Latest / The Paul Barron Crypto Show / Silver & Gold Bloodbath🔥with Chris Marcus

Transcript

Silver & Gold Bloodbath🔥with Chris Marcus · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Silver and gold are taking a bloodbath right now. Today
• 0:02
  Speaker 1: we want to break into a little bit more about
• 0:04
  Speaker 1: what's happening in the market. You don't want to miss
• 0:07
  Speaker 1: this one today, guys. Let's just jump right into it.
• 0:09
  Speaker 1: Let's go over to Google Trends, and if you look
• 0:12
  Speaker 1: at what's going on with Google trends right now with
• 0:15
  Speaker 1: silver price, gold price, and bitcoin price, you can start
• 0:19
  Speaker 1: to see a lot of things centering around, but all
• 0:23
  Speaker 1: very interesting in terms of the amount of people that
• 0:26
  Speaker 1: are starting to look at this, And we wanted to
• 0:28
  Speaker 1: bring in an expert to kind of really break this
• 0:31
  Speaker 1: down because there's been a big retraacement here. So Chris
• 0:34
  Speaker 1: is joining me, coming over from Arcadia Economics. If you
• 0:37
  Speaker 1: guys have not checked out his YouTube channel.
• 0:39
  Speaker 2: Right here, it is, jump over there. He's got a
• 0:41
  Speaker 2: lot of videos that are.
• 0:42
  Speaker 1: Very dialed into what's happening in the precious metals market.
• 0:46
  Speaker 2: So welcome to the show, Chris.
• 0:47
  Speaker 3: How are you, Paul, I'm doing great, Thanks so much
• 0:50
  Speaker 3: for having me here, And like you quite well pointed out,
• 0:53
  Speaker 3: it's not only a fascinating time in the silver market,
• 0:57
  Speaker 3: but really a historic time which I think things have
• 1:01
  Speaker 3: happened so quickly that. I mean age just what we've
• 1:03
  Speaker 3: seen over the past two years with the gold and
• 1:06
  Speaker 3: silver rally, and then that has been stunning in itself,
• 1:09
  Speaker 3: and then sure enough, there are people who've been waiting
• 1:12
  Speaker 3: forty five years to see silver break through fifty.
• 1:14
  Speaker 4: We finally saw that happen last week.
• 1:17
  Speaker 3: Obviously, there's been a correction this week, which I think
• 1:20
  Speaker 3: some people.
• 1:21
  Speaker 4: Are a little concerned about, and as we.
• 1:23
  Speaker 3: Can dig into, I think anytime you have something move
• 1:26
  Speaker 3: as much as it has, you might want to be
• 1:28
  Speaker 3: prepared for additional volatility.
• 1:30
  Speaker 4: But it's it's wild what's happening right now.
• 1:32
  Speaker 1: Do you feel that the commodity market right now is
• 1:37
  Speaker 1: topping or is this just a normal correction and you
• 1:40
  Speaker 1: feel like there's more more life left in this.
• 1:43
  Speaker 3: I mean, I guess in that context that would lead
• 1:45
  Speaker 3: more towards the topping. I suppose it depends on what
• 1:48
  Speaker 3: timeframe someone's looking at.
• 1:51
  Speaker 4: Well, we've seen the.
• 1:52
  Speaker 3: Silver price come down a little bit, we've seen some
• 1:54
  Speaker 3: of the indications of and as we can get into,
• 1:58
  Speaker 3: I think it's safe to say that the silver market
• 2:00
  Speaker 3: a degree broke on October ninth, So we're seeing some
• 2:04
  Speaker 3: of that get resolved. Although if you take a step
• 2:07
  Speaker 3: out of the precious metals for a second and think
• 2:10
  Speaker 3: about what is happening with the Trump administration in response
• 2:15
  Speaker 3: to the fact that we're now at that point where
• 2:18
  Speaker 3: because of what's happened with manufacturing over the past twenty
• 2:21
  Speaker 3: five years and we're seeing it playing out with the
• 2:23
  Speaker 3: rare earths, that it's that situation that's not so ideal
• 2:27
  Speaker 3: where it's like, China, can we keep having some material
• 2:31
  Speaker 3: if we want to go to war and use it
• 2:33
  Speaker 3: against you? So we've reached Paul, I know you've heard
• 2:38
  Speaker 3: it for year as well. One day, you know, the
• 2:40
  Speaker 3: kicking the can down the road. We've finally gotten there
• 2:43
  Speaker 3: where this system is now preventing the military from doing
• 2:49
  Speaker 3: what the government wants it to do. So that's why
• 2:52
  Speaker 3: we're seeing a broader shift, which is being signified by
• 2:55
  Speaker 3: what's happening with the metals as we speak.
• 2:57
  Speaker 1: But when you look at gold and silver right now,
• 3:01
  Speaker 1: was do you feel like that was the reason that
• 3:03
  Speaker 1: we saw the big crash and pullback. Why would we
• 3:07
  Speaker 1: not see more strength in these metals with this kind
• 3:11
  Speaker 1: of tension going on and also the fact that we've
• 3:13
  Speaker 1: got the dollar devaluing at the same time.
• 3:15
  Speaker 3: When you see the crash and the pullback. Are you
• 3:17
  Speaker 3: talking about just the last couple of days?
• 3:19
  Speaker 4: A couple of days, yeah, I mean gold.
• 3:20
  Speaker 3: Was thirty three hundred bucks on August eighteenth. It'd gone
• 3:24
  Speaker 3: up one thousand dollars in two months. These are haven't
• 3:29
  Speaker 3: measured the exact pace against twenty eleven. I think this
• 3:34
  Speaker 3: last leg may have out done it. You could take
• 3:37
  Speaker 3: any market in any scenario blindly, and if you see
• 3:41
  Speaker 3: a move like that, there's going to be days where
• 3:44
  Speaker 3: it sells off.
• 3:46
  Speaker 1: So more just profit taking is kind of what you're
• 3:48
  Speaker 1: getting at.
• 3:49
  Speaker 3: I mean, there's I guess you could, Yeah, you could
• 3:51
  Speaker 3: call it that. I mean, there's going to be corrections,
• 3:53
  Speaker 3: and especially we saw what happened when silver cross thirty
• 3:56
  Speaker 3: dollars and then just bust right through. There were a
• 3:59
  Speaker 3: lot of fireworks around that, and I thought when we
• 4:01
  Speaker 3: get to fifty, you were likely to see that.
• 4:04
  Speaker 4: Sure enough, we have.
• 4:06
  Speaker 3: Nothing has changed in terms of the underlying reasons, and
• 4:09
  Speaker 3: there still is not just what I was starting to
• 4:13
  Speaker 3: say and others were starting to say, but now Bloomberg,
• 4:16
  Speaker 3: according to them, references and someone familiar with the LBMAS,
• 4:20
  Speaker 3: thinking that the LBMA doesn't think this is just the
• 4:25
  Speaker 3: silver is.
• 4:25
  Speaker 4: Here and we need it here.
• 4:27
  Speaker 3: Bloomberg cited them as saying a genuine shortage.
• 4:32
  Speaker 1: So you believe there is one, You believe the shortage
• 4:35
  Speaker 1: is real. We're starting to see this play out in
• 4:38
  Speaker 1: the markets, even though there are some corrections for it.
• 4:41
  Speaker 1: Is this supply shock actually going to continue going forward?
• 4:46
  Speaker 4: Well, it's nuanced. So let me be clear. We are
• 4:48
  Speaker 4: we actually running out of silver?
• 4:51
  Speaker 3: No, because a lot of silver went over to the
• 4:54
  Speaker 3: Comax earlier this year, So right now they're playing a
• 4:57
  Speaker 3: silver in the US. Although India has to halt new
• 5:00
  Speaker 3: additions into their silver ETFs back beginning on October ninth,
• 5:05
  Speaker 3: articles set at the time that they expected the silver
• 5:08
  Speaker 3: in the next shipment, although in Bloomberg article they said
• 5:12
  Speaker 3: bloom JP Morgan was telling clients they're not going to
• 5:16
  Speaker 3: have any silver for India until at least end of
• 5:19
  Speaker 3: October into November. Then last week we saw the Royal
• 5:24
  Speaker 3: Mint talk about delays and getting the silver that they need.
• 5:28
  Speaker 3: And then a couple of days after that was when
• 5:30
  Speaker 3: Bloomberg put out the articles saying that the LBMA folks
• 5:33
  Speaker 3: are suggesting because I was trying to distinguish specifically what
• 5:38
  Speaker 3: you're saying there, is it just you could say there's
• 5:41
  Speaker 3: a shortage in India. We're seeing products shortages and other
• 5:44
  Speaker 3: areas around the globe. We're seeing there's clearly a shortage
• 5:48
  Speaker 3: in the London market. Now some metal has started leaving
• 5:52
  Speaker 3: the Comax which is presumably going to London or maybe
• 5:56
  Speaker 3: even directly to India. And it was very talking to
• 5:59
  Speaker 3: see that LBMA comment that they are calling Bloomberg referred
• 6:03
  Speaker 3: to them as saying a genuine shortage.
• 6:05
  Speaker 4: So, okay, the evidence is piling up on that.
• 6:09
  Speaker 1: What would it take right now for to create an
• 6:12
  Speaker 1: Andy Scheckman who comes on our show a lot.
• 6:14
  Speaker 2: He's a big silver.
• 6:15
  Speaker 1: Guy and he's been talking about this with me over
• 6:18
  Speaker 1: the past six months, is that there there is a
• 6:21
  Speaker 1: problem or could be a problem on a failure to deliver.
• 6:24
  Speaker 1: What would it take for a failure to deliver occur,
• 6:28
  Speaker 1: especially in silver.
• 6:30
  Speaker 3: Well, there's a school of thought that that actually did
• 6:32
  Speaker 3: occur back on October ninth. It does appear that something
• 6:36
  Speaker 3: of that nature happened. Normally the futures trades over the
• 6:40
  Speaker 3: spot price right right, that got inverted with the London
• 6:44
  Speaker 3: spot price going over the futures price, and on October ninth,
• 6:50
  Speaker 3: I mean if it goes over by thirty or forty
• 6:52
  Speaker 3: cent sets a lot. Morning of October ninth it was
• 6:54
  Speaker 3: about a buck twenty over, and by eleven o'clock that
• 6:58
  Speaker 3: morning it had gone up to two fifty sold out
• 7:00
  Speaker 3: in India. Panic in London how the silver market broke.
• 7:04
  Speaker 3: So what you're seeing is that they do have a shortage.
• 7:07
  Speaker 3: And as that price went up, metals started coming from
• 7:11
  Speaker 3: the comacs again, presumably back to London, although I don't
• 7:16
  Speaker 3: see that as a long term fixed because what ultimately
• 7:19
  Speaker 3: got us here in the first place is that and
• 7:21
  Speaker 3: I know Andy's probably told you plenty about this, yeah,
• 7:25
  Speaker 3: is that you have the free float in London has
• 7:28
  Speaker 3: been declining, and now we've had banks writing about it.
• 7:34
  Speaker 3: I've been talking about it, other people have been speaking
• 7:36
  Speaker 3: of it, and we finally hit the danger zone where
• 7:38
  Speaker 3: the amount of silver to underpin the physical market.
• 7:41
  Speaker 4: Is too low. So right now we're going to see
• 7:43
  Speaker 4: where else it comes from.
• 7:45
  Speaker 3: But that still will not address the longer term issue
• 7:48
  Speaker 3: if we keep running deficits and growing and midst growing
• 7:52
  Speaker 3: industrial demand.
• 7:53
  Speaker 1: It appears that a lot of the countries are also
• 7:55
  Speaker 1: trying to lock it in, as well as some of
• 7:57
  Speaker 1: these exchanges that are trying to sell it, and then
• 7:59
  Speaker 1: you've got the situation with the ETFs that also play
• 8:03
  Speaker 1: into this. You would think that silver would still be
• 8:06
  Speaker 1: on maybe just a short correction and a track back up.
• 8:10
  Speaker 2: Do you feel like we have hit.
• 8:12
  Speaker 1: The bottom on silver just yesterday or do you think
• 8:15
  Speaker 1: that it has a shot to go back to forty dollars.
• 8:18
  Speaker 3: I think you're in an environment where people should not
• 8:20
  Speaker 3: be surprised by extreme moves in other directions.
• 8:23
  Speaker 4: Okay, because as we've.
• 8:24
  Speaker 3: Learned over the past couple of years, decades, for some
• 8:29
  Speaker 3: there is what's happening in the physical market, and there's
• 8:32
  Speaker 3: also what's happening as priced by the COMEX futures.
• 8:36
  Speaker 4: And despite the times of what we.
• 8:37
  Speaker 3: Think would be logical and how they should be correlated,
• 8:41
  Speaker 3: you have a lot especially now, you've had mainstream money
• 8:45
  Speaker 3: piling in now, so that is really started over the
• 8:49
  Speaker 3: past two months, the commodities and the stocks.
• 8:53
  Speaker 4: So you have a lot of people that know very
• 8:56
  Speaker 4: little about.
• 8:56
  Speaker 3: Anything we just said here that are pushing money back
• 8:59
  Speaker 3: and forth. Similar to how we saw silver go to
• 9:02
  Speaker 3: twelve dollars when COVID broke out, and then a couple
• 9:06
  Speaker 3: months later finally broke through twenty was at twenty nine
• 9:09
  Speaker 3: bucks a couple of weeks later. I would suggest that
• 9:12
  Speaker 3: we're in an environment where it would be wise to
• 9:15
  Speaker 3: be prepared for big swings. I think it's possible the
• 9:20
  Speaker 3: price of silver is lowered than it is today five
• 9:23
  Speaker 3: or ten years from now. I think that's pretty unlikely.
• 9:26
  Speaker 3: But in terms of saying that the bottom is in
• 9:29
  Speaker 3: or it can't go lower, not saying that it necessarily will.
• 9:33
  Speaker 3: But you have a lot of hot money flowing around there,
• 9:36
  Speaker 3: and you're I would suggest not to be surprised by
• 9:40
  Speaker 3: the types of moves that we saw this past Friday
• 9:43
  Speaker 3: and yesterday, because you are going to see that.
• 9:47
  Speaker 1: Yeah, and you look at the market tenacity that we're
• 9:50
  Speaker 1: dealing with right now. A lot of people look at
• 9:52
  Speaker 1: these rotations that seem to be occurring.
• 9:55
  Speaker 2: Some people said gold.
• 9:57
  Speaker 1: Some analysts are saying we're seeing gold rotation, coming out
• 10:00
  Speaker 1: of gold into bitcoin, some saying we're coming out of
• 10:04
  Speaker 1: digital assets and into precious metals. There's a lot of
• 10:08
  Speaker 1: money on the sidelines as well as into some of
• 10:11
  Speaker 1: these critical assets that are starting to move around to
• 10:13
  Speaker 1: your point. One thing I want to kind of clarify
• 10:16
  Speaker 1: because a lot of people are trying to figure out
• 10:18
  Speaker 1: how do you get silver, and in many cases they
• 10:21
  Speaker 1: might just go out and buy, you know, SLV or
• 10:24
  Speaker 1: another alternative. What would be the best way if you're
• 10:28
  Speaker 1: not looking to say, take physical delivery for silver, what
• 10:32
  Speaker 1: would you say is the best if.
• 10:34
  Speaker 4: You just wanted price exposure.
• 10:36
  Speaker 2: For a price exposure on silver?
• 10:38
  Speaker 3: I mean, in that case, I think SLV is fine
• 10:41
  Speaker 3: to use it for that if you're concerned about how
• 10:44
  Speaker 3: does this unravel when the debt loads are actually addressed,
• 10:49
  Speaker 3: and certainly I think silver is more appropriate for that.
• 10:52
  Speaker 3: But you know, if you think you want to put
• 10:55
  Speaker 3: a trade on because silver is going to go up
• 10:56
  Speaker 3: a dollar tomorrow, I mean you don't want to do
• 10:58
  Speaker 3: that with physical silver because you're going to.
• 11:00
  Speaker 4: Be paying exhibtion. We're going to heat that up.
• 11:03
  Speaker 3: So shorter term stuff, yeah, solb or it's also AGQ,
• 11:08
  Speaker 3: which is a leveraged one. I probably should have said
• 11:10
  Speaker 3: that because not appropriate.
• 11:11
  Speaker 4: For most people. But yeah, the etf.
• 11:14
  Speaker 3: OK for a short term move, but I think physical
• 11:17
  Speaker 3: has its rightful place for what most people are trying
• 11:21
  Speaker 3: to capture or likely watching this, Chris.
• 11:24
  Speaker 1: Do you think we're going to see more bleeding of
• 11:26
  Speaker 1: gold into bitcoin if in fact that is what is happening,
• 11:30
  Speaker 1: because it's kind of you could go either way right
• 11:32
  Speaker 1: now because gold and bitcoin are both down this week.
• 11:37
  Speaker 1: What what's your thought on that?
• 11:38
  Speaker 3: Oh, I mean, I guess that's possible with the way
• 11:41
  Speaker 3: a lot of stuff is.
• 11:42
  Speaker 4: I'll go programmed right now.
• 11:45
  Speaker 3: Yes, there's an overlap, although I find the bitcoin and
• 11:50
  Speaker 3: precious metals markets very often tend to do their.
• 11:54
  Speaker 4: Own thing as well. Yeah. Yeah, And as you well know,
• 11:58
  Speaker 4: there's also a lot of peopleeople who are one or
• 12:01
  Speaker 4: the other.
• 12:01
  Speaker 3: I don't know that it has to be that way,
• 12:04
  Speaker 3: and I see people getting all angry and or out
• 12:07
  Speaker 3: of fighting about it. Yet slightly different profile between the two,
• 12:11
  Speaker 3: So I would not think that that's going to necessarily
• 12:14
  Speaker 3: be driving gold further.
• 12:16
  Speaker 1: We had an expert on the show yesterday, and this
• 12:21
  Speaker 1: was a company called Denario. They are a tokenized silver
• 12:25
  Speaker 1: and they basically hold that against a token that goes
• 12:30
  Speaker 1: against backed you know, physical back silver, which is industrial grade.
• 12:33
  Speaker 1: They's you know, kind of an interesting scenario there with Donario.
• 12:39
  Speaker 1: But the point I wanted to bring up was is
• 12:41
  Speaker 1: I asked him what he thought silver's top could be,
• 12:44
  Speaker 1: and he felt like we could see triple digits on silver.
• 12:49
  Speaker 2: What's your opinion.
• 12:50
  Speaker 4: I think that's really good happen.
• 12:51
  Speaker 3: I mean, if you have a break and an overt
• 12:53
  Speaker 3: shortage where you don't have you have manufacturers that can't get.
• 12:58
  Speaker 4: What they need to use. Probably the comp I look to.
• 13:01
  Speaker 3: I don't know if you have a cocoa chart handy there,
• 13:03
  Speaker 3: but they finally ran into those supply issues and been
• 13:07
  Speaker 3: trading around. I think it was like two thousand dollars
• 13:10
  Speaker 3: a contract for the last two decades and then.
• 13:12
  Speaker 4: It shot up to nine or ten thousand.
• 13:15
  Speaker 3: Also, we saw in the nickel market briefly a few
• 13:18
  Speaker 3: years back what happens when someone gets caught off side
• 13:21
  Speaker 3: with a short position. So I mean hundreds of big price.
• 13:24
  Speaker 3: So can it get there?
• 13:26
  Speaker 4: Yes?
• 13:26
  Speaker 3: See, like we've gotten to the point where there's an
• 13:28
  Speaker 3: issue in LBMA, does it get resolved?
• 13:31
  Speaker 4: Does it get resolved for half long? But you know
• 13:34
  Speaker 4: metal's going back there.
• 13:35
  Speaker 3: But if we're a month from now and that issue
• 13:38
  Speaker 3: has gotten worse and people are starting to realize that
• 13:40
  Speaker 3: there's a shortage in a scramble, I think that or
• 13:44
  Speaker 3: if you finally have the treasure, you get to the
• 13:47
  Speaker 3: point where they just run into a problem they can't
• 13:50
  Speaker 3: get out of. I think you kind of need something
• 13:53
  Speaker 3: like that before you're going to see triple digits.
• 13:55
  Speaker 2: Triple digits.
• 13:56
  Speaker 1: Okay, all right, So there's a couple of things that
• 13:59
  Speaker 1: are happening in the gold market. This has mostly been
• 14:02
  Speaker 1: looked at in terms of token ized commodities. We track
• 14:05
  Speaker 1: this one pretty heavily, obviously, tether gold, paxos.
• 14:08
  Speaker 2: Holding in there.
• 14:09
  Speaker 1: But you can kind of see the growth that we've
• 14:11
  Speaker 1: seen a very short period of time of assets rolling
• 14:15
  Speaker 1: into xaut paxos gold.
• 14:18
  Speaker 2: But yet we have not seen this in silver.
• 14:20
  Speaker 1: Obviously, there's not a token ised silver available at least
• 14:23
  Speaker 1: that we know of outside of these you know, very
• 14:26
  Speaker 1: obscure ones like what we saw with the DSc token
• 14:28
  Speaker 1: we were talking about yesterday, And you look at this,
• 14:31
  Speaker 1: Is this a better opportunity to maybe hedge these markets
• 14:36
  Speaker 1: by going into these digital versions who are physical, you know,
• 14:39
  Speaker 1: buying physical assets to back that token. Is that a
• 14:44
  Speaker 1: better hedge going in versus just going in and buying
• 14:47
  Speaker 1: you know, physical and trying to take delivery for.
• 14:50
  Speaker 4: Gold and silver.
• 14:51
  Speaker 3: One of the advantages that you can have is that
• 14:54
  Speaker 3: if it is designed correctly and you want to actually
• 14:57
  Speaker 3: send someone one hundred dollars worth of to another part
• 15:00
  Speaker 3: of the globe. Yeah, that what I think could be useful,
• 15:04
  Speaker 3: and I think we'll see more of that. There's certainly
• 15:08
  Speaker 3: some of those out there now. Of course, in today's environment,
• 15:12
  Speaker 3: like with any investment or any company, you want to
• 15:15
  Speaker 3: be careful because certainly we have seen than when money
• 15:19
  Speaker 3: is flowing into a market, especially like is happening in
• 15:22
  Speaker 3: gold and silver. Now, I imagine we'll continue to see them.
• 15:25
  Speaker 3: So it would just be very careful with the research
• 15:28
  Speaker 3: and unless you can't hold it or you're going to
• 15:30
  Speaker 3: need to be sending it, you know, at least think
• 15:33
  Speaker 3: of physical as a first step.
• 15:35
  Speaker 1: Yeah, I understand, and you know, I hear it so
• 15:38
  Speaker 1: much from a lot of the silver guys, is that
• 15:40
  Speaker 1: they're really pushed the physical attribution of precious metals in
• 15:44
  Speaker 1: general when you look at the benefits of where gold
• 15:49
  Speaker 1: and silver kind of play, especially when you throw bitcoin
• 15:52
  Speaker 1: into the crowd, because this seems to be the discussion
• 15:56
  Speaker 1: right now, is bitcoin silver gold? Those are the discussions
• 15:59
  Speaker 1: that investors are looking at in terms of alternatives could
• 16:04
  Speaker 1: silver benefit from gold actually losing to bitcoin? So if
• 16:09
  Speaker 1: gold starts to slide, bitcoin starts to move, do you
• 16:12
  Speaker 1: think we could see a rotation into silver.
• 16:15
  Speaker 3: I would think if you have a significant downfall in
• 16:18
  Speaker 3: the gold price, silver would probably most likely to match.
• 16:21
  Speaker 2: That on Okay, so I'd follow along, all right? Interesting?
• 16:25
  Speaker 1: Last question I have for you is silver price prediction.
• 16:28
  Speaker 1: Do you have an end of year I know yours
• 16:30
  Speaker 1: is a much longer time horizon around the silver market,
• 16:34
  Speaker 1: but if you were looking at this by end of year,
• 16:36
  Speaker 1: is anywhere you're kind of pointing to on the silver chart.
• 16:40
  Speaker 3: Oh, let's see if we're in October twenty second. Now
• 16:45
  Speaker 3: I'll pick my end of year unofficial target of let's
• 16:49
  Speaker 3: say fifty eight. With the possibility that you could find
• 16:55
  Speaker 3: out we have another flare up with what's happening at
• 16:58
  Speaker 3: the LBMA and any what happens there again, that that
• 17:03
  Speaker 3: is the type of thing that could.
• 17:05
  Speaker 4: Leave you with a triple digit silver.
• 17:07
  Speaker 3: Price if what Bloomberg is quoting an LBMA person is
• 17:13
  Speaker 3: saying is accurate and turns out to be the case.
• 17:17
  Speaker 3: And I will add to that that I have heard
• 17:20
  Speaker 3: that especially even not just retail or you know, bullion dealers,
• 17:25
  Speaker 3: but on the banking side that people are legitimately concerned
• 17:30
  Speaker 3: about what is happening in silver. So I do think
• 17:32
  Speaker 3: this is a significant situation. And if you get an under,
• 17:37
  Speaker 3: you get a real not like well some metals coming over,
• 17:41
  Speaker 3: But if you get to that point where it's not there,
• 17:45
  Speaker 3: then you.
• 17:47
  Speaker 4: Have a much bigger price in fifty eight.
• 17:49
  Speaker 1: All right, Well, you're talking about a twenty percent correction
• 17:53
  Speaker 1: that would have to occur if that, in fact did happen.
• 17:56
  Speaker 1: And I'm just looking at this, you know, flowing through
• 17:58
  Speaker 1: mid November, but if you stretch that out into end
• 18:01
  Speaker 1: of year, if we do see you know, activities around that,
• 18:05
  Speaker 1: that would be a pretty significant move on silver in general.
• 18:09
  Speaker 2: And we have not seen. I mean, this has been
• 18:10
  Speaker 2: a you.
• 18:11
  Speaker 1: Know, a metal that has had a lot of sideways,
• 18:14
  Speaker 1: even though it's been coming up slightly since all the
• 18:17
  Speaker 1: way back in March, after that dip back in March
• 18:20
  Speaker 1: of twenty twenty three, trading what at that time was
• 18:23
  Speaker 1: around twenty bucks. So the asset itself has more than
• 18:26
  Speaker 1: doubled in just a very short period of time. So
• 18:30
  Speaker 1: maybe this is a continued Maybe this is finally a
• 18:33
  Speaker 1: cycle in which the raw materials are at a critical
• 18:37
  Speaker 1: breaking point to your you know, kind of to what
• 18:39
  Speaker 1: you're alluding to, and if that does happen, oh, this
• 18:43
  Speaker 1: could be a big one for sure. Do you feel
• 18:45
  Speaker 1: like silver could be the breakout trade versus gold if
• 18:49
  Speaker 1: you were going precious metals, go with silver versus gold.
• 18:53
  Speaker 5: In terms of an investment, I think having a mix
• 18:56
  Speaker 5: is good, although if I had to say over the
• 19:00
  Speaker 5: next big move, if I only had one, I think
• 19:04
  Speaker 5: that would be silver right now, because big is that
• 19:09
  Speaker 5: the gold isn't used industrially and we have this silver now.
• 19:14
  Speaker 1: Chris, we have to be clear as you're a silver
• 19:16
  Speaker 1: guy though, right, I.
• 19:17
  Speaker 3: Mean I guess more silver guyle, though I have updated
• 19:22
  Speaker 3: that and used to have only silver, and then in
• 19:24
  Speaker 3: the last couple of years with thinking that if we
• 19:27
  Speaker 3: do have to go to some sort of revaluation, there
• 19:30
  Speaker 3: are a couple of reasons why I think.
• 19:32
  Speaker 4: It's more likely to be gold and gold and silver.
• 19:35
  Speaker 3: But with that said, I think the supply issue is
• 19:39
  Speaker 3: a problem.
• 19:39
  Speaker 1: Right, So supply issue on silver if you want to
• 19:43
  Speaker 1: hedge against that. Gold is more of evaluation reposition where
• 19:47
  Speaker 1: we're seeing the weakness to the dollar of the dollar
• 19:50
  Speaker 1: versus gold. A lot more countries now starting to seek
• 19:53
  Speaker 1: out gold in terms of a reserve asset, upgraded a
• 19:56
  Speaker 1: Tier one obviously a lot of those kind of benefits
• 19:59
  Speaker 1: for play into this. So, man, this is getting kind
• 20:02
  Speaker 1: of crazy. I'm going to be very closely watching this.
• 20:05
  Speaker 1: We've just started recently, i'd say, in the last year,
• 20:09
  Speaker 1: trying to cover what's happening. We met Andy Shackman, who's
• 20:14
  Speaker 1: kind of educated us a little bit of where this
• 20:16
  Speaker 1: market is going. So it's been fun learning more about
• 20:19
  Speaker 1: silver and gold as terms of an asset. We'll definitely
• 20:22
  Speaker 1: get you back in on the show soon. Okay, thanks
• 20:25
  Speaker 1: for coming in. I appreciate it.
• 20:27
  Speaker 3: I appreciate that, Paul, thanks so much for having me.
• 20:29
  Speaker 3: Great talking with you.
• 20:31
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• 20:36
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• 20:42
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• 20:43
  Speaker 1: you next time right here on The Paul Baron Show.