Latest / Financial Survival Network / Chaos Ahead -- Nick Santiago #5808

Transcript

Chaos Ahead -- Nick Santiago #5808 · Financial Survival Network

0:00
The banking system is going extinct. To say what is Nobody wants to say
0:03
that it's going away. And that's why I told my members we're not touching.
0:06
We're not touching these banks. I want nothing to do with them.
0:10
The pattern is so bad, it's so broken. There is no reason to
0:14
get involved in these names. We have no edge over that market right now.
0:18
And I know some people on TV they're saying, hey, you got
0:20
the banking system is going extinct like the way of the fake dinosaurs. You're
0:26
listening to Carrie Letz's Financial Survival Network, where you get valuable information you just
0:32
can't find anywhere else to thrive in today's trying times. You need the Financial
0:37
Survival Network now more than ever. Go to Financial Survival Network dot com and
0:43
get your free newsletter and gift. Financial Survival Network now more than ever.
0:53
Welcome. This is Financial Survival Network. I'm your host, Carrie lets We
0:57
got Nick Santiago with us today. Nick. Hey, well, first we'll
1:02
do our daily market to wrap up it's actually three times per week, but
1:07
and then we'll get into more of the macro type view of the world,
1:14
the economy, etc. So first off, the markets looking choppy, today.
1:19
Yeah, the markets are very choppy today, and in fact, they've
1:23
been choppy for you can make a case for the last six weeks. You
1:26
know, we go up for a couple of days, we go down for
1:29
a little bit. But one thing I've noticed carry and that's this is something
1:32
that should be very important to the listeners, is that the volume trends have
1:36
been extremely light since late March, and that's what's helped keep these markets buoyant.
1:41
A lot of people think when markets go up on light volume that that
1:45
is just the retail investor or the retail trader pushing it up. But it's
1:49
not. It's the institutional trader pushing the market up and keeping it up.
1:53
And when you get selling pressure and you get high volumes, say one hundred
1:57
million shares of more in the spiders, that's telling you this real, real
2:00
institutional sell side pressure on the market. If you don't get that, just
2:06
to expect the markets to remain buoyant. And you know, I try to
2:09
explain that a lot of times to my listeners in there almost like program to
2:14
think that, oh, it's just a retail trader pushing the markets up.
2:17
It's never the retail trader that ever moves markets. You can go back to
2:23
the mean stocks and know those Reddit boards, that's still institutional traders. So
2:28
just remember, light volume keeps a buoyant upside market. Heavy volume almost every
2:32
time except at a major low, you're going to see downside action. Yeah,
2:38
yeah, yeah, we've seen that over and over past years that we've
2:40
been doing the show. Exactly what you're describing. And light volume is easier
2:46
to manipulate the market up or down for that matter, absolutely, and it
2:50
just there's no selling pressure, so you only have to have, you know,
2:53
a small buy program of SMP futures contracts to move the market anyway you
2:59
want. And now they got this ODT which expires the same day, same
3:04
day vix. I mean, there's just so much manipulation going on are intra
3:07
day it's rather remarkable. I can't tell you how many times I see the
3:13
markets have a hard sell off and then by twelve twelve o'clock in the afternoon,
3:16
one o'clock in the afternoon, they just flow right back up to the
3:20
high. It's like nothing ever happened. And that's why I always tell you
3:23
it's not how they opened, it's how they close. And that's what you
3:25
have to watch for right. Hey, so Twitter, Elon has hired a
3:30
new CEO for Twitter, and she looks to be a well I don't know
3:37
what she is, but she's the former head of NBC Universal. So what's
3:43
this about. Well, I've been getting videos sent by her all day long,
3:47
actually started last night, and I must have watched ten of them.
3:52
So you know, she was one of those people mask up and ship out
3:55
and all of this stuff. So I think Twitter's on even going to revert
4:00
back to the way it was. Elon came in, you got everybody excited
4:04
thinking it's going to be a free speech platform. I'm not so sure that
4:09
I wouldn't wouldn't buy into that one. We'll see how she is when she
4:13
gets on board, but I have to think she's a lefty all the way
4:16
through and through. And you know, again, all you want is just
4:19
somebody to be fair. I mean that's all people want. They just want,
4:23
you know, somewhere where they can share and expressed vevues without being shadow
4:27
banned or without being blocked or you know. But again, you know,
4:31
all of these platforms have an agenda. If you ask me, yeah,
4:34
no doubt. Well hopefully it won't go back to the way it was because
4:40
whatever you say about Musk is opening the platform up has led to higher and
4:45
higher viewership and more importantly, people spending more time on the site. And
4:50
if they switch, if they keep it open and they switch and start doing
4:55
videos and video advertising, they will crush all the pettitors just by being a
5:00
free and open platform. So hopefully they won't revert. But I'm not convinced
5:05
the proof of the pudding is in the tasting, as they say. So,
5:11
energy today is looking better. Huh, Yeah, Energy's firmed up today.
5:15
I mean, we have some news out there, I think by the
5:17
Department of Energy. They basically came out and said they're gonna fill up the
5:20
Strategic Petroleum Reserve in June. Now, why haven't they done that already when
5:26
the price has gone you know, even we went to sub seventy recently is
5:30
beyond me. But you know, that's giving energy a little bit of a
5:34
bump. I don't know if that news is going to be long lasting.
5:39
I still think oil is in a very very tough position here. If it
5:43
loses the recent pivot low from this month, the oil is going to go
5:46
down to fifty dollars now. When it gets down to fifty though, if
5:49
it should or should it get there, that's going to be a monster buying
5:54
opportunity. We'll see who is willing to step up when that happens. All
5:58
right, And goal, the goal dipped yesterday and today, what's going on
6:01
with it? Yeah, gold kind of is flat right now, but he
6:05
had a little bit of a sell off. The bigger story though, was
6:09
silver. Silver really got hit hard yesterday, that had a big, big
6:12
decline and today silver is on the weaker side as we speak right now,
6:15
So that's something I would have to watch for. But I'm open for silver
6:20
two fold back. As you know, I'm looking to get back into silver
6:24
soon and I'm welcoming this fall in the commodity. What do you think at
6:30
entry point? What is the entry point you're looking for for silver? Rein
6:34
Well, I'm thinking if if it can. I forget the key levels I
6:39
had, um, I don't have them in front of me, But what
6:41
I would say is if we could get down into that twenty dollar area,
6:46
I really think that's probably a starting entry point for a long pole. And
6:50
when I mean a long fall, I'm ultimately looking for silver to go into
6:54
the to the load of mid thirties. Okay, and yeah, well you
6:58
called the load to vantine and you know you haven't backed off up to this
7:03
point. You've been very bullish on it. You think there's a consolidation here
7:09
or something. Yeah. So I think the latest run up that we had
7:13
in silver and in gold was really on the back of fear was it was
7:15
really on the back of the central bankers, you know, making a bad
7:20
blunder with the inverted yield curve and all these banks, you know, original
7:24
banks are in trouble and they still are. Nothing has changed there. So
7:28
I think now you're starting to see because the markets have held up so much,
7:31
everybody's thinking the Fed he's done. You know, the Fed fundrated way
7:35
above the two year Treasury note yield. So I think gold and silver just
7:39
ran up on the fact that, hey, there's uncertainty out here, I'm
7:43
going to own precious metals. But that is telling you what's going to go
7:46
on in the future. What's going to go on in the next couple of
7:48
years. Everybody's going to run to a hard asset. They're not going to
7:51
look to be in X y Z. They're gonna say Hey, I want
7:56
to be in gold. I want to be in silver. I want to
7:58
be in oil, I want to be in neck gass, I want to
8:01
be in weak. I want to be something that I can take possession of.
8:05
And now we're not going to totally take possession of it, but that's
8:07
what things that people are gonna need, and that's where you're going to see
8:11
going forward. That's going to be the theme. I think we're in the
8:15
infancy of that of those moves, and you're going to get a giant commodity
8:20
breakout. That's what will take place, and where we're already up on the
8:24
cusp of that happening. Now. Okay, So and one other thing,
8:28
Bitcoin back under twenty seven thousand. Is this the beginning of the end for
8:37
bitcoin? It could be. It could be, But I had bitcoin making
8:41
one more surge, making a nominal high, and I think that's it.
8:45
So either way, there's still that chance of one more pushing bitcoin. But
8:50
it's already starting to look top heavy here, so I would be very very
8:52
cautious with it. But if you get one more pop, one more maybe
8:56
just a nominal new eye. I don't have the exact number was in front
9:00
of me, but that that would be it for Bitcoin. If it could
9:03
even do that, I'm not sure it's even gonna happen. Okay, I'm
9:07
with you on that, just seeing it very looking, very weak, and
9:13
without a doubt this the last few weeks, we've seen so much chop,
9:16
so much volatility. You know, you're seeing that the rally that's taking place
9:22
for the last couple of months is in jeopardy, and that that is certainly,
9:28
you know, but a lot of times what these markets do, and
9:30
not just Bitcoin, it's any market for that matter, they'll have that period
9:33
and then they'll get one more move back up and they'll get everybody on board,
9:37
and that's when they pull the rug out. So I would watch for
9:41
that pattern, and that's what I've told my members. You know, we're
9:43
looking for that. Okay, I think that's reasonable, all right, So
9:48
let's get into a more global macro perspective. First, the banking crisis,
9:54
which has really been sucking up all the oxygen in in the news cycle for
10:01
weeks now. I think we're onto like six weeks. This thing's been going
10:05
on with no let up in sight. Where does it end? How does
10:09
it end? Well, it's not going to end pretty because you've already had
10:13
three major bank failures. You know, a lot of people are saying this
10:18
is like the savings and loan crisis, but I think it's a little bit
10:20
more severe, and I would be very very careful here with these financials.
10:26
Now. We know that there was a discount window opened up by the Federal
10:30
Reserve allowing these banks to say, very very liquid. But we're seeing so
10:35
much money now going into money markets right everybody's you know, running in there
10:39
to get some yield. This is just not healthy. The inverted yield curve
10:46
is still in place between twos and tens, so yes, yields have gone
10:50
down. Maybe the spread is tightened between twos and tens, but it's still
10:54
there. It's been there for over a year. So you know this,
10:56
this is a big problem. This is not going to end any time soon.
11:00
I would avoid all financials. I am not touching them. I have
11:03
told my group already we have no edge in the financial game, because what
11:07
happens is if there's really a calamity here, you're gonna see the central banks.
11:11
What are they gonna do a QE. They're gonna cut rates. That's
11:16
gonna cause a rally. In fact, you could make a case that since
11:18
March thirteenth, the markets have gone up on the expectations that the FETE is
11:24
gonna cut. So again the central bankers have their nose in the event,
11:28
in the business. And you know, honestly, these banks are not looking
11:31
great. And you've seen a ton of money flood over to JP Morgan.
11:37
But when I look at a chart of Bank of America, where a chart
11:41
of city group, where Wells Fargo, those three don't look that good.
11:45
JP Morgan seems to be the only one holding up. So there's more of
11:50
a problem than is meeting the eye. I'm not a good person to tell
11:54
you the catalyst. I'm never good at that. I could just tell you
11:58
what the charts are saying, and they're not saying anything good right now,
12:01
right And there was a report I think I saw two days ago and then
12:05
it like disappeared off the screens that deposits in the major banks were down half
12:13
a billion, half a trillion dollars, that's five hundred billion. That's not
12:18
a good indicator that ball as well with the banking system. No, no,
12:22
it's not good. And you know, after we saw what happened when
12:26
First Republic get bought out for nothing, right, it was just basically taken
12:31
over by JP Morgan. Now we got pack West. Now you have Western
12:35
Lines, you have so many others. It's like a domino table, right,
12:39
one's going you know, one goes down, the rust go down.
12:43
We have four thousand regional banks, I think we used to have a ton
12:46
more, and you know, by the time this is over, we'll probably
12:50
have two thousand. Who knows you think? Is this setting the table for
12:54
the central bank digital currency? Is that what this is all about? Oh?
13:00
Absolutely? I mean ye had Christine Lagarde get pranked by somebody that acted
13:03
like voldemire Z Lensky. I didn't know if it was true or not.
13:07
And apparently it's true. And she's already talking about a digital euro coming out
13:13
in October that's going to have spending limits on it. Then in July we
13:18
have fed Now. So if you look at the fed now program, I
13:22
mean thousands of companies have already signed up to that. That's basically eliminating all
13:26
banks, right because you could just have a money transfer immediately, you don't
13:31
have to do any clearing, any anything like that. It's just going to
13:35
be instantaneous transactions, much like it is on the blockchain. So this is
13:41
all set in the stage up for central bank digital currency. I don't think
13:43
the US is going to roll that out immediately, but with FED now they'll
13:48
get more and more companies involved, and then then then they'll start with the
13:52
saving of me. See, so if there's no banking sector. Now,
13:56
going back to the beginnings of capitalism and America, the purpose of the banking
14:01
sector was to allocate capital. You would deposit your money in there to keep
14:05
it safe, to earn a return, and they would find worthy borrowers and
14:11
basically make loans. Now that's all changed. They don't even make any money
14:16
off of that stuff anymore. They make more money on fees like bounce check
14:20
fees, which some of them are creditive now because there is no reason for
14:24
a bank check a bounce check fee, because when your check bounces, it's
14:28
all digital anyway. It doesn't cost him anything. You know. That used
14:33
to be like the clerk had to stamp it and then they had to mill
14:35
it back to you or call you on the phone to make good. None
14:39
of that happens anymore. So it's a really they don't allocate capital anymore.
14:46
So there's the Central Bank just going to make loans, direct loans to borrowers.
14:52
Is that how they're going to make mortgages. I mean they're doing it
14:54
now. All real estate mortgages, as a practical matter, except for huge
15:00
bumbos, are guaranteed by the government. Effectively, they're making government loans,
15:05
right, And essentially the banking system is going extinct. Just say what is?
15:11
Nobody wants to say that it's going away. And that's why I told
15:13
my members we're not touching. We're not touching these banks. I want nothing
15:18
to do with them. The pattern is so bad, it's so broken.
15:22
There is no reason to get involved in these names. We have no edge
15:26
over that market right now. And I know some people on TV and you're
15:28
saying, hey, you got the banking system is going extinct like the way
15:35
of the fake dinosaurs. Yeah. Hey, So you know, I was
15:39
talking with my friend John Rabino about this, and you know, he was
15:43
dollar collapse. He's really knowledgeable. I'm saying, well, maybe we'll go
15:46
back to the days so the FED to get you to buy in to the
15:50
CBDC, they'll start giving out toasters and coffee makers so open account at the
16:00
CVDC account window at the FED and get a free flat screen TV. Right,
16:07
yeah, yeah, that's you know, I remember those days. They
16:08
weren't that long ago. I know, I remember people and young people don't
16:15
know those days. They don't remember those days. Yeah, I remember,
16:18
like I got all this money from on bar mitzvah, and we opened like
16:21
ten different accounts and ten different banks. I had like radios, and there
16:26
were such things your own crazy eddie. You could start your own little client
16:32
store. Hey, if we only had eBay then I could have sold it.
16:34
But I mean it's absurd. But you know they're gonna incentivize you.
16:40
Maybe it'll be a gift card to best Buy or a card accredited a whole
16:48
Soon. If you wanted to get a vaccine, they gave you a free
16:51
Crispy Creme donut, or in New York they gave you a French fries.
16:53
Right, I mean, yeah, well that's worth it. So you know
16:57
they'll be giving up McDonald's a big acts. They have to do something right.
17:03
They have to make people want to do this. They always have a
17:07
way though. Um listen, they're twenty steps ahead of everybody else, you
17:12
know, I can't think that people act like the Federal Reserve is stupid.
17:17
These guys have MBA's, PhDs, mathematicians, statisticians, you name it.
17:23
They got everybody at their disposal there. How could they miss this? Just
17:27
like transitory inflashing, they possibly miss that. Yeah, well yeah, I
17:33
always say the best things in life are transitory. But but you know,
17:38
like, yeah, they've got and they've got the direct data feeds from everything.
17:42
Believe me, you don't think in every at one Liberty Plaza there in
17:48
New York, which they used to work right around the corner for it,
17:51
they don't have a direct feed and they don't see every single unemployment claim coming
17:56
in. Of course, they do everything, all data everything. And you
18:00
know something, I've watched like the not just JAYE. Powell, but I've
18:04
watched all of these FED chairmen over the years, old press conferences, and
18:10
there have been times when the market is just plunging and then they could just
18:12
automatically say something and turn it right back around. They flip a switch.
18:18
Right. That's like we're calling in our trading when we call it the magic
18:22
wand yeah, weave the magic wand without anybody knowing, and it goes right
18:26
back up and levitates. So you know, this stuff's been going on for
18:30
ages, but you we're at a time now where, um, if you're
18:34
gonna tell me that they couldn't these so cold bankers out there with an inverted
18:41
yield curve couldn't make adjustments earlier, I just don't buy it. I don't
18:45
buy it. Maybe I'm just a skeptic. But you know, they knew
18:48
there would be problems with their current investments because all they're doing is parking money.
18:53
They're, like you said, they're not making money elsewhere, They're just
18:56
parking money. So it none of it makes any sense to me. I
19:02
don't buy into any of it. Maybe I'm just too much into skeptic.
19:04
All right, So interest rates they're gonna well first housing stocks, and this
19:10
is intimately tied to interest rates. They've been going higher recently, right,
19:15
they've been on a tear on a tear. You know, I bought puts
19:18
on Kabe Holmes, had a couple opportunities to make some money and have my
19:22
put options. They're gonna expire worthless because they've just gone higher and higher.
19:26
So it's on the anticipation that the feed is going to start to cut rates.
19:30
But they can't. They really can't cut rates because we're gonna get in
19:34
We're gonna get inflation back in droves. You've got wars going on, got
19:40
a war going on in Sudan, nobody's even talking about. It's like a
19:42
proxy war for Russia in the United States. Besides what's going on in Russia
19:48
and Ukraine. Then as you get China going into Taiwan, I mean you're
19:51
gonna get bank supply disruptions. What's gonna happen with the inflation right then we're
19:56
gonna we're gonna soar. The Fed knows this, they're not dumb. So
20:00
but maybe they're done raising for now with the whole under the guise of the
20:03
banking crisis, without a doubt. And they can be done because the Fed
20:08
funds rate is at five percent and the two year Treasury note yield is just
20:12
under four. So you know, they as long as they're above that two
20:17
year, that's what the market is looking at saying, hey, they could
20:19
be, they could be done. They could cut without about a point in
20:22
between the two year and the Fed funds rate. The Fed funds rates at
20:26
five, you know, we don't even need a central bank. If we
20:29
just let the Fed funds rate track the two year mind, it's natural rate,
20:34
right, that's right, There is a natural rate of interest rate on
20:38
money, and we don't really know what it is because the Fed manipulates it
20:44
because it's all part of central bank central planning. They're the ultimate central planners,
20:48
the central banks. Right, that's absolutely correct. All you have to
20:52
do is just let that so called Fed funds rate track the two year Treasury
20:56
note yield. Every veteran trader in the world knows that, and that's you
21:02
know, and that's why you know, we can tell when there's liquidity in
21:06
the system and known there's liquidity coming out of the system. Right now,
21:08
there's still some liquidity in this system, and with this banking crisis, that's
21:12
been the reason why we've had a rally, right yeah, because they've been
21:18
priming the presses, pumping up money. That's it. Boo commodities, you
21:23
mentioned that new commodity super cycle does that for everything, all commodities, for
21:30
everything, everything, so from coffee to a corn to gold and silver platinum.
21:37
Yeah. Yeah, they're not gonna go. They're they're not going to
21:40
all go at the same time. They'll be different starts and fits for different
21:44
things, because you know, money rotates, but it's they're all gonna rise,
21:48
they're all gonna I mean, they'll probably be one or two groups that
21:52
won't participate. But you're gonna see oil two hundred dollars a barrel. You're
21:56
gonna see neck gass go to new all time eyes in three years. You're
22:00
gonna see gold forget about it. Goal's going to go, you know,
22:03
to the moon. Silver too. Silver is gonna go back and test,
22:07
you know, the thirties, and then then it goes to its old eye
22:10
of fifty. So you know, this is this is all in just the
22:15
minute beginning stages here. But you could see that the accumulation, that's what
22:19
I watch. I watch these patterns and how they accumulate, how they accumulate.
22:25
And it's like a tea kettle. You know, you put the pot
22:26
of tea on the stove and the stove is burning, and then all of
22:30
a sudden that tea starts to boil and then the whistle goes off. Then
22:33
it's too late. It jumped. It has already jumped, all right,
22:37
but it's a little too early for that. Now, how are we going
22:41
to know for sure what's going to be that the tip off, the indicator
22:47
that you follow that says, hey, the commodity supercycle is back with a
22:52
V. It's already begun, right, so you've already had the moving silver
22:56
take off already. Gold is going to do some more starting and fitting,
22:59
but it's it's very range bound. The low in gold will be in the
23:03
fifteen hundreds. That's it. That's the bottom you're seeing in an oil.
23:07
Right, oil is going to have its pull back now it gets down to
23:10
fifty. That thing's taking off. Now, they're not just going to jump
23:14
to these level high levels. It'll take time to work up. Nothing goes
23:18
up in a straight line, nothing goes down in the straight line. But
23:21
it's already begun. It's already, it's already underway. And you know,
23:23
if you've been around this business as long as I have, you see those
23:26
patterns, you realize that it's already started. The key is going to be
23:32
you know, do you look for the breakouts? Are you're just willing to
23:33
sit in it, you know, but I like to trade it. So
23:37
for me, it's gonna be, Hey, we get a high volume breakout
23:41
day, that's it. That's kind of a tell that it's it's on.
23:44
You know, the move is on, and then you'll get pullbacks and you
23:47
play those retraces and you know you continue to do that until you know twenty
23:52
twenty eight. All right, so that gas has been in the cellar.
23:56
I mean you look at the chart. It is like the old Tromp bear
24:00
market chart, like eighty percent loss of value. I guess going back like
24:07
back to well it hit when did it hit its peak? Ten bucks?
24:11
So it hit ten bucks? Just what was that? It was not my
24:15
sharts in front of me, but they're behind me. Yeah it wasn't that.
24:18
We think, yeah, it wasn't that long ago. But but gad,
24:22
I want to hear what you have to say and then I'm gonna be
24:23
my comments on it. So, oh, that gas seems to know the
24:29
weather before any meteorologist or climate expert has a clue. That gas goes up
24:37
and then it's like, oh wait a second, it's a really hot summer
24:41
or it's a really cold winter. Nat Gas anticipates, always anticipates it.
24:45
I've been watching it for ten fifteen years, and it will know when it's
24:52
gonna get when we're gonna have a heat wave before anybody knows. Markets know
24:57
a lot. Markets are very very efficient. They always know something. But
25:03
here's my theory on that gas. So we went up to ten and that
25:07
was a monster, and press and drive higher. Now we've come back down
25:12
to two and everybody hates it. Here, that's the funniest thing. You
25:18
were at ten, now you're at two and everybody hates it. So when
25:22
I see something like I'm in that gas, I own it. I'm long
25:26
so and I'm long. I'm hoping to be long for years. I'm hoping
25:30
to be long for years. And if I get stopped out by some chance,
25:33
I'm just gonna re enter lower. So I'm going to keep getting back
25:37
into nat gass. But what I would say is, right now, if
25:41
you look at the monthly chart, you're going to notice that nat gas has
25:45
made a fire low. So in the big big scheme of things, I
25:48
think that the lows were already put in. You had that run up to
25:52
ten, and now we're seeing nat gass come back down and challenge the two
25:56
dollars level, which is what I call. First leg up to ten was
26:00
one wave. You're getting your wave two right here. It's in the start
26:06
of a three wave. Three wave is one of the most powerful waves in
26:11
markets. So anybody that follows Elliott wave or any other kind of wave theory,
26:15
the third wave. Everything comes in threes. The third wave is the
26:18
big one, and that's going to last a long, long time. And
26:22
I think it's in the very very beginning of that happening right now. All
26:29
right, Well, inclined to agree with you there. And one another thing
26:33
too, seasonality wise, Natural guests almost always puts its low end at the
26:40
end of the first quarter right now, back at the charts, Yeah,
26:45
and we are now in the second quarter. All right, Well, interesting
26:49
times ahead. Anything else that you're looking at, anything else you're doing planning,
26:55
because there's going to be turmoil, going to be complete and utter chaos
27:00
throughout the markets, throughout the world. We're heading towards it. It's obvious
27:03
any that you personally are doing to prepare for the inevitable. Well, I
27:10
own silver and gold coin, saying joke, silver and bullion, and you
27:15
know, I even have some pieces on my desk right here, so you
27:19
know, I always tell everybody you know, you have to that's how you
27:22
prepare a little bit. I mean, I don't think it's going to save
27:26
us ultimately, but what I do think it's going to help us out for
27:30
a little while. So I would definitely have some of that available and you
27:34
get a pullback, I would tell everybody, you know, go out there
27:37
and get yourself a little bit of silver. It's not going to hurt you.
27:41
And if you don't ever use it, you give it to children.
27:45
Yeah, And this is what I keep on my desk right here, so
27:52
always as a reminder that the that the real wealth and the world comes from
27:57
the ground. I mean, the intellectual property has value, no question,
28:03
but ultimately all wealth comes from the ground. That's right. And you know,
28:07
we're moving into such a wild time carry with all this AI craze,
28:12
right, I mean, you can't I care for walk ten feet without somebody
28:17
asking me about AI. And you know, it's it's almost like a hysteria.
28:22
Reminds me a little bit of the dot com bubble, But it's really
28:26
just getting started because these these computer modules or what do you call them,
28:30
artificial intelligent projects there, they get smarter and smarter, right, They just
28:36
keep you know, the more memory give them, they can just do so
28:38
many things. But in my opinion, they're never gonna outsmart the man.
28:45
And you know where the creation. You know, these things are being created,
28:49
and you know they're still just a glorify fight algorithm in my opinion,
28:53
they do some incredible stuff and they're going to take over a lot of jobs
28:57
out there. I even saw post where Wendy's is going to get rid of
29:02
the drive through guy over there answering and AI is now taking it over.
29:07
So you know, get ready for that paradigm shift where you're going to see
29:11
a lot of a lot of jobs go by the wayside because of this new
29:15
AI technology. And I don't know, you know where this country thinks or
29:21
where this world thinks they're going to, you know, get people to work,
29:25
you know, so you have to think outside the box now, and
29:27
it might be time to own some precious metals because things can get very very
29:33
crazy in the world if you have massive unemployment. Yeah, yeah, no
29:37
doubt. And that's the big fear. Too many people out of work in
29:41
China, too many people out of work in the United States, in Europe,
29:45
and it's a recipe for chaos for sure. So having some precious metals
29:52
is always a good idea, but especially now, and if you get in
29:56
it. You can't always get in at the bottom unless you're a trader like
30:00
Nick, and you can't always get out at the top. But you don't
30:03
need to. They don't need to, So all right, Well, hey,
30:07
I appreciate your perspective. We'd like to check in with you every so
30:10
often besides the regular show and see your take on things and well, interesting
30:17
times ahead. As the Chinese proverb goes, may you live in interesting times?
30:22
Well, we're beyond interesting here, that's for sure. And make sure
30:26
you go over to nick site in the Mooneystocks dot com link in the show
30:30
notes and see always beaten the averages for decades. The Twitter feeds at ims
30:37
at Nick Santiago zero one at carry Lutz. Emails are welcome, Kale at
30:41
Kerry LUTs dot com. Nick, we will talk to you again soon.
30:45
Sounds good, Jerry, Thank you, thanks for listening to carry Lutz's Financial
30:49
Survival Network, your solution to today's trying times. For the latest, go
30:55
to Financial Survival Network dot com. Financial Survival Network now more than ever,