Latest / Financial Survival Network / Urgent Warning from Andy Schectman -- Your Cash is Quickly Becoming Trash #6149

Transcript

Urgent Warning from Andy Schectman -- Your Cash is Quickly Becoming Trash #6149 · Financial Survival Network

• 0:01
  Speaker 1: You were listening to Carrie Letz's Financial Survival Network, where
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• 0:28
  Speaker 2: Well, hello everybody, I'm Andy Schackman. I suppose you all
• 0:32
  Speaker 2: know that by now. To my right is Carrie Lutz,
• 0:34
  Speaker 2: and I'm sure all of you know that by now.
• 0:37
  Speaker 3: And for a.
• 0:37
  Speaker 2: Long time I've been going on everyone else's show and wondering, well,
• 0:42
  Speaker 2: maybe I should attempt to do my own. So Carrie,
• 0:46
  Speaker 2: my new neighbor, was kind enough to come over and
• 0:50
  Speaker 2: help get me set up, and we figured we.
• 0:53
  Speaker 3: Launch show number one.
• 0:55
  Speaker 2: I don't even have a name for the show yet,
• 0:57
  Speaker 2: but it's something I've been meaning to do.
• 0:58
  Speaker 3: With the Miles Franklin Report.
• 1:00
  Speaker 2: Oh oh, all right, the mild strengthening part there it is,
• 1:02
  Speaker 2: so yeah, little by little. Maybe we'll call it little
• 1:06
  Speaker 2: by little then all at once. That's my favorite mantra.
• 1:09
  Speaker 2: In fact, I got a picture over there that speaks
• 1:13
  Speaker 2: to that. I had it made Little by Little then
• 1:15
  Speaker 2: all at once. It means a lot to me. There's
• 1:17
  Speaker 2: a lot you could say for logarithmic decay and how
• 1:21
  Speaker 2: it feeds into the world these days, whether it be economically, socially, morally,
• 1:28
  Speaker 2: you name it.
• 1:29
  Speaker 3: Things just seem to be.
• 1:30
  Speaker 2: Changing little by little, and then you wake up one
• 1:32
  Speaker 2: day and it's all at once. And so anyways, so
• 1:35
  Speaker 2: too is my aspirations of starting a show.
• 1:39
  Speaker 3: Little by little by little.
• 1:40
  Speaker 2: I've been attempting to do this, getting pieces and having
• 1:44
  Speaker 2: them sit unopened on my desk and finally carry twisted
• 1:47
  Speaker 2: my arm enough to get this going. So we figured
• 1:51
  Speaker 2: since we just got everything set up, we talked a
• 1:53
  Speaker 2: little bit about silver. Carrie was prodding me to ask
• 1:58
  Speaker 2: me why silver wouldn't get above thirty. I mentioned that
• 2:01
  Speaker 2: it did today, and he was saying, do you think
• 2:03
  Speaker 2: it would stay there? And why the hell hasn't it
• 2:05
  Speaker 2: gone higher?
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  Speaker 3: Is that about right? Yeah? I think that pretty much
• 2:09
  Speaker 3: sums it up.
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  Speaker 4: But before we get into that twenty five hundred dollars gold,
• 2:14
  Speaker 4: So technically twenty five hundred means nothing, but psychologically in
• 2:19
  Speaker 4: the world that's a quarter of ten thousand. I mean
• 2:22
  Speaker 4: it's a big, big number, okay, And we finally breached it,
• 2:28
  Speaker 4: and we're met universally with yawns all across the globe
• 2:33
  Speaker 4: except for the people who know.
• 2:36
  Speaker 3: Yeah, I find that crazy.
• 2:37
  Speaker 2: Actually, to be honest with you, the lack of any
• 2:41
  Speaker 2: media participation, in the lack of any fanfare whatsoever, is
• 2:47
  Speaker 2: shockingly quiet. I mean, coming from someone who's done this
• 2:51
  Speaker 2: for thirty five years almost. You know, when gold was
• 2:55
  Speaker 2: two hundred and fifty two dollars, if you told me
• 2:57
  Speaker 2: it would be ten times that price, and it would
• 2:59
  Speaker 2: have virtually no attention and virtually no investment by the
• 3:05
  Speaker 2: United States mainstream. Rick Ruhloffen talks about one half of
• 3:09
  Speaker 2: one percent allocation from Joe and Jane six pack all
• 3:13
  Speaker 2: the way up to the Harvard Endowment Fund, and something
• 3:15
  Speaker 2: that you follow, perhaps a little bit more closely than
• 3:17
  Speaker 2: I do, the mining shares.
• 3:19
  Speaker 3: Now.
• 3:19
  Speaker 2: I have a mining share portfolio because I've worked very
• 3:22
  Speaker 2: closely with sprot USA for a very long time, and
• 3:25
  Speaker 2: out of respect, since they have been kind enough to
• 3:28
  Speaker 2: trust me with their clients, I haven't managed to count there,
• 3:31
  Speaker 2: and I don't even know exactly all the shares that
• 3:34
  Speaker 2: I own. I trust my broker there, who's a friend
• 3:38
  Speaker 2: well enough to represent my best interests and that might
• 3:40
  Speaker 2: not be the smartest way to do things. But the
• 3:42
  Speaker 2: bottom line is is that I know I have a
• 3:45
  Speaker 2: nice allocation to mining shares. And what's even more startling
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  Speaker 2: to me is that if you told me gold would
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  Speaker 2: be twenty five hundred dollars and the mining shares would
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  Speaker 2: be beaten down the way that they have, I would say,
• 3:56
  Speaker 2: there's just no possible way that that could happen.
• 3:58
  Speaker 3: What do you think?
• 4:00
  Speaker 1: Good?
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  Speaker 4: And little by little, you know, but Neumont just to
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  Speaker 4: just announced it a couple of weeks ago, like record earnings,
• 4:12
  Speaker 4: and I almost bought options on that stock, but doesn't
• 4:15
  Speaker 4: count didn't do it, but it was at forty forty
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  Speaker 4: one forever and it didn't move, and then all of
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  Speaker 4: a sudden, hey they had four hundred million dollars a
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  Speaker 4: higher profit.
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  Speaker 3: And Numont went up.
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  Speaker 4: So the quality juniors are going to get bought up.
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  Speaker 4: There is no other choice because the majors, the Nuance,
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  Speaker 4: the Achnigo's, the the barracks, they're all seeing declining reserves.
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  Speaker 4: So that's the argument for it. Why it hasn't gone up. Well,
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  Speaker 4: I think that there's a lot of people have lost
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  Speaker 4: a lot of money in the sector over the years,
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  Speaker 4: and they're they're literally going to have to be dragged,
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  Speaker 4: kicking and screaming get back into it. But that's the opportunity.
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  Speaker 4: You know, Hey, how long do we sit around and
• 5:05
  Speaker 4: wait for gold to get this point?
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  Speaker 2: I think that's really it, though, Carrie's I mean, I
• 5:09
  Speaker 2: think that is really hitting the nail on the head
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  Speaker 2: is that it's like the little boy you cried wolf
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  Speaker 2: and the market doesn't believe it. I think that's what
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  Speaker 2: it is. In fact, I think even the bulls don't
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  Speaker 2: believe it. That we've witnessed so many pullbacks that are
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  Speaker 2: counterintuitive that were so far past when this should have
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  Speaker 2: all happened, and it's happened.
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  Speaker 3: So many times, and how many times do I need
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  Speaker 3: to hear it?
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  Speaker 2: And I think the market just doesn't believe it. And
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  Speaker 2: that's what to me potentially makes this so very strong.
• 5:43
  Speaker 2: Rick was talking about Rick rule about in this environment
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  Speaker 2: he would expect to see the majors go first, the
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  Speaker 2: ones that you mentioned, the barracks and the numents, and
• 5:55
  Speaker 2: the the mid tier majors, and then the juniors, and
• 5:59
  Speaker 2: then the explorations and of course also the maybe my favorite,
• 6:03
  Speaker 2: the royalty stocks that royalty is for sure, but it's
• 6:08
  Speaker 2: interesting when you put it in that light. And I
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  Speaker 2: think the same thing is true about Silver. People just
• 6:15
  Speaker 2: don't believe that it will go. And I think that
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  Speaker 2: that that's fair. That's a fair point. We've watched it
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  Speaker 2: get hammered for so many years and so many times
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  Speaker 2: when the fundamentals would say that it shouldn't. And yet
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  Speaker 2: Gold here we are showing or leading the way. Now
• 6:35
  Speaker 2: that's also typically the way things go. Gold typically leads
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  Speaker 2: the way in these moves and Silver follows suit, oftentimes
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  Speaker 2: outpacing percentage wise, Gold's gains.
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  Speaker 3: He said something to me.
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  Speaker 2: This afternoon that made me say, well, why didn't I
• 6:50
  Speaker 2: show the PowerPoint that I did at Rick's show, at
• 6:54
  Speaker 2: least a few of the slides to explain in my
• 6:57
  Speaker 2: mind why Silver has been back. I'm going to share
• 7:01
  Speaker 2: my screen if you don't mind, Carrie, and I'm going
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  Speaker 2: to show people here.
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  Speaker 3: Gre England. So we go.
• 7:09
  Speaker 2: I'm still a rookie year, all right. I hope we're
• 7:12
  Speaker 2: sharing our screen. I think we are all right of it.
• 7:15
  Speaker 2: So we're going to skip past this one. We don't
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  Speaker 2: need any of that nonsense. But here's a smoking gun,
• 7:22
  Speaker 2: as far as I'm concerned, Right, So let's start here. Now,
• 7:26
  Speaker 2: this you can google all of this. This is and
• 7:29
  Speaker 2: this is courtesy of the pickaxe. And John Little is
• 7:31
  Speaker 2: a hell of a hell of a researcher. I will
• 7:36
  Speaker 2: give him that. And he's he's brought a lot of
• 7:38
  Speaker 2: things to the market that a silver bug should be
• 7:42
  Speaker 2: thankful for, and this is one of them. There's a
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  Speaker 2: subcommittee in October of nineteen forty two, a subcommittee subcommittee
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  Speaker 2: hearing on banking and currency. You can see at s
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  Speaker 2: dot two seven sixt eight, And it was a bill
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  Speaker 2: to authorize for war purposes the silver held are owned
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  Speaker 2: by the United States. And as you can see here
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  Speaker 2: just by reading the first couple of paragraphs here, the
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  Speaker 2: present consumption of silver for war purposes is at a
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  Speaker 2: rate of about one hundred million ounces a year and
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  Speaker 2: is growing rapidly. According to the War Production Board, it
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  Speaker 2: is only a matter of months before war demands will
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  Speaker 2: have increased sufficiently to require at least two hundred million
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  Speaker 2: ounces a year. All right, So that's nineteen forty two, right,
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  Speaker 2: And if we think about where we are now, I
• 8:26
  Speaker 2: gave a speech where at Jay Martin's conference in Vancouver
• 8:30
  Speaker 2: two years ago where I said to the audience, there's
• 8:34
  Speaker 2: five hundred ounces in the tip of a Tomahawk cruise missile.
• 8:37
  Speaker 3: Excuse me.
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  Speaker 2: And the man came up to me after the speech
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  Speaker 2: and he said, you know, I'm a consultant for the DoD.
• 8:46
  Speaker 2: I worked on the team that developed the Tomahawk, and
• 8:50
  Speaker 2: I know that they're silver, and I don't know how
• 8:52
  Speaker 2: much I'll let you know. And I never heard from
• 8:54
  Speaker 2: him again. But I went back there this year in January,
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  Speaker 2: gave a different speech, and there he was and was
• 9:00
  Speaker 2: standing there with a handful of photos. Said you remember me.
• 9:03
  Speaker 2: I said, I do, and he showed me a bunch
• 9:06
  Speaker 2: of photos said, don't worry, this is all declassified. He said,
• 9:08
  Speaker 2: but you're right. There is between thirteen and fourteen kilograms
• 9:12
  Speaker 2: of silver in the tip of a Tomahawk. And he
• 9:15
  Speaker 2: showed me all sorts of pictures and how they had
• 9:17
  Speaker 2: difficulty getting it to launch vertically because it was meant
• 9:20
  Speaker 2: to design to come out of torpedo tubes of a
• 9:24
  Speaker 2: submarine and all sorts of stuff.
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  Speaker 3: It was an interesting conversation, but what I took.
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  Speaker 2: Away from it is that in these high tech weapons,
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  Speaker 2: silver is used and copiously at that. So in any case,
• 9:34
  Speaker 2: keep that in mind as we move forward. Here in
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  Speaker 2: nineteen forty two, where told two hundred million ounces would
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  Speaker 2: be need for military equipment, and the level of sophistication
• 9:43
  Speaker 2: is exponentially higher. Now so here are the supply demand
• 9:48
  Speaker 2: numbers that come out of the Silver Institute. And if
• 9:51
  Speaker 2: we look at the demand section here, first of all,
• 9:54
  Speaker 2: we see once again there's one two hundred and sixty
• 9:56
  Speaker 2: million ounce shortfall projected between supply and demand. But look
• 10:01
  Speaker 2: at the demand totals. We have industrial demand which is
• 10:06
  Speaker 2: solar nine percent, electrical and electronics, of which photovotalics twenty percent,
• 10:12
  Speaker 2: raising alloys and solders three percent.
• 10:14
  Speaker 3: By the way, I have a client who is.
• 10:16
  Speaker 2: A mechanic for United Airlines, is said, the amount of
• 10:21
  Speaker 2: silver solder inside these airplanes is extraordinary. Anyways, other industrial
• 10:27
  Speaker 2: three percent or nine percent, photography negative three percent, jewelry
• 10:31
  Speaker 2: for silverware seven net investments sol Nowhere in here do
• 10:35
  Speaker 2: we see military applications at all zero And yet we're
• 10:39
  Speaker 2: told there is a two hundred plus million ounce shortfall.
• 10:42
  Speaker 2: We are told that we are running out of silver
• 10:46
  Speaker 2: in above ground. And when we look at the supplied
• 10:49
  Speaker 2: demand numbers, nowhere on there does it mention military and
• 10:52
  Speaker 2: in nineteen forty two we know they were using up
• 10:55
  Speaker 2: to two hundred million ounces a year.
• 10:57
  Speaker 3: And as a.
• 10:58
  Speaker 2: Result, take a look at this and maybe this chart
• 11:02
  Speaker 2: will help unders go or what's happening.
• 11:07
  Speaker 3: I don't know.
• 11:07
  Speaker 2: If that's in your way, it is to get another
• 11:09
  Speaker 2: micro good here. So this is the comax market. And
• 11:13
  Speaker 2: if you can see, the red line represents the four
• 11:16
  Speaker 2: largest commercial banks short and the green line represents the
• 11:21
  Speaker 2: eight largest. So the four plus the other four. So
• 11:24
  Speaker 2: there are eight banks in essence right now, eight banks,
• 11:27
  Speaker 2: all Western banks, and we can say they would be
• 11:29
  Speaker 2: Standard Charter, Deutsche Bank, HSBC, JP, Morgan City Bank, Bank
• 11:35
  Speaker 2: of America, Goldman Sachs, and I don't know who else.
• 11:39
  Speaker 2: But the point of it is is that there are
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  Speaker 2: eight commercial banks right now that have the largest concentrated
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  Speaker 2: short position of any commodity ever traded in the history
• 11:48
  Speaker 2: of the comex market period. And you have to ask yourself,
• 11:52
  Speaker 2: why the hell would eight banks be shorting silver wind
• 11:54
  Speaker 2: Countries like India have imported over seven hundred million ounces
• 11:58
  Speaker 2: last year over the last two years. Rather, why would
• 12:01
  Speaker 2: they do that when China right now, according to Shan
• 12:05
  Speaker 2: Kun Kun from Dali Varden and according to others that
• 12:08
  Speaker 2: I've talked with who have publicly told me in videos recently,
• 12:12
  Speaker 2: that China is going all around Latin America buying up
• 12:15
  Speaker 2: the dore bars and the silver concentrate, paying way more
• 12:19
  Speaker 2: than the West will pay, and doing so to get
• 12:22
  Speaker 2: it in unrefined fashion, send it back to China and
• 12:25
  Speaker 2: refine it there so it's not pulled off of an exchange,
• 12:28
  Speaker 2: it isn't factored into any pricing mechanism, it's in essence invisible.
• 12:32
  Speaker 2: And this from the second largest producer of silver in
• 12:35
  Speaker 2: the world, China, who has just become a net importer
• 12:40
  Speaker 2: instead of a net exporter. So when you look at
• 12:43
  Speaker 2: countries like China and India who are voraciously accumulating silver
• 12:47
  Speaker 2: using this stupidity, this brain dead weaponization of the commodity market,
• 12:52
  Speaker 2: where eight banks are suppressing the price of silver to
• 12:55
  Speaker 2: this degree, to the degree of the largest concentrated short
• 12:58
  Speaker 2: position ever seen. And look when we contrast it to
• 13:00
  Speaker 2: crude oil way down here. Remember how they put crude
• 13:02
  Speaker 2: oil and negative forty of barrel in twenty twenty. The
• 13:05
  Speaker 2: fact that you have eight banks shortening this price tells
• 13:07
  Speaker 2: you there's something important about silver. Now, think about what
• 13:10
  Speaker 2: we were just saying. Think of all of the weapons
• 13:14
  Speaker 2: that are being created, the high tech weapons and aerospace
• 13:16
  Speaker 2: and stealth bombers and all of this stuff that the
• 13:20
  Speaker 2: military industrial complex is involved in.
• 13:23
  Speaker 3: We just voted to.
• 13:24
  Speaker 2: Give another I don't know, one hundred and fifty million
• 13:26
  Speaker 2: dollars or so on top of all the billions they've
• 13:29
  Speaker 2: given the Ukraine, and almost all of it is in weaponry,
• 13:31
  Speaker 2: all of it. They're giving all of this money to
• 13:33
  Speaker 2: the military industrial complex to make high tech weaponry. And
• 13:36
  Speaker 2: the only way that they're able to create this stuff
• 13:40
  Speaker 2: and to sell it all around the world is to
• 13:42
  Speaker 2: keep the price of silver down. And what is interesting
• 13:46
  Speaker 2: about that when you see this and then look at
• 13:48
  Speaker 2: this frame, we can see that the people around the world,
• 13:53
  Speaker 2: like China and India are using this suppression against us.
• 13:56
  Speaker 2: They understand what we are doing, They understand that we
• 13:59
  Speaker 2: are holding down the but they were never motivated, coordinated, sophisticated,
• 14:03
  Speaker 2: wealthy enough and to stand for delivery.
• 14:06
  Speaker 3: But that's what they are doing.
• 14:07
  Speaker 2: And this is the LBMA and the London Bullion Metal
• 14:09
  Speaker 2: Association who said it's the second lowest or nearly the
• 14:13
  Speaker 2: lowest amount of silver they have ever had in their
• 14:15
  Speaker 2: vaults since they.
• 14:16
  Speaker 3: Started keeping records. You're seeing the same thing on comes.
• 14:19
  Speaker 2: Massive deliveries and rehypothication on comex of over fifteen hundred percent,
• 14:25
  Speaker 2: where fifteen people think they own the same contract. If
• 14:28
  Speaker 2: everyone stood for delivery, one may get the silver, the
• 14:32
  Speaker 2: rest get cash settled. It was like Bernie Madoff had
• 14:34
  Speaker 2: a good deal going until people said, give me my
• 14:36
  Speaker 2: money back. So this is what I wanted to show
• 14:38
  Speaker 2: you and get your opinion. You're feeling on it. So
• 14:42
  Speaker 2: the question really to me is if silver is it
• 14:46
  Speaker 2: more or less? Not even industrial? To me, it's strategic.
• 14:49
  Speaker 2: It's needed in so many things, including military, and they
• 14:52
  Speaker 2: strip it from the supplied demand numbers. We have eight
• 14:55
  Speaker 2: banks shortening it to the degree that no one's ever
• 14:57
  Speaker 2: seen in any commodity ever. And then we see this,
• 15:00
  Speaker 2: We see the vaults being bled dry, and they're being
• 15:02
  Speaker 2: bled dried by the countries who are now smart to
• 15:06
  Speaker 2: our Khan and are using it against It's kind of
• 15:09
  Speaker 2: like jiu jitsu, where you use your opponent's leverage against them.
• 15:13
  Speaker 3: This is why silver hasn't gone.
• 15:14
  Speaker 2: And this is what I think when we talk about
• 15:16
  Speaker 2: little by little, by little by little bit bang all
• 15:18
  Speaker 2: at once. The all once moment is when there is
• 15:20
  Speaker 2: no silver left to be delivered on these Western exchanges,
• 15:23
  Speaker 2: and then it moves to the Shanghai. So this finished
• 15:26
  Speaker 2: one more thing, and I'll let you jump in here.
• 15:29
  Speaker 2: Shanghai silver has been priced four bucks and an ounce
• 15:31
  Speaker 2: higher for the past couple of months than LBMA, and
• 15:34
  Speaker 2: then by COMEX. It's continuing to go higher. And in
• 15:37
  Speaker 2: the past roughly three months, the combined volume of the
• 15:43
  Speaker 2: Shanghai Metals Exchange and the Shanghai Futures Exchange has gone
• 15:46
  Speaker 2: up over two hundred percent, and that volume now surpasses
• 15:49
  Speaker 2: the COMEX, effectively making it the second most highly traded
• 15:54
  Speaker 2: exchange in the world behind the LBMA. It is gaining legitimacy.
• 15:58
  Speaker 2: And when these exchanges are viewed for the scam that
• 16:01
  Speaker 2: they are. This leveraged, rehypothecated game where no one ever
• 16:06
  Speaker 2: stood for delivery allowed us to fool the world into
• 16:10
  Speaker 2: thinking our bond market and our currencies and all of
• 16:13
  Speaker 2: these commodities we needed. You know, one was of strength
• 16:17
  Speaker 2: and the other is to suppress the price. All of
• 16:19
  Speaker 2: this will be exposed and you will see I believe
• 16:22
  Speaker 2: a repricing of metals and repricing of commodities off of
• 16:26
  Speaker 2: these exchanges to exchanges across the globe where the people
• 16:30
  Speaker 2: who run these exchanges are the ones who produce it,
• 16:33
  Speaker 2: accumulate it, and understand it. And we have really squandered
• 16:37
  Speaker 2: I think the privilege of being able to set these
• 16:40
  Speaker 2: prices with a fair exchange, because the concept of a
• 16:43
  Speaker 2: fair exchange, in my opinion, through rehipoplication through the LBMA
• 16:49
  Speaker 2: able to trade almost three billion ounces of silver per day.
• 16:53
  Speaker 2: That's three and a half times annual global mind supply.
• 16:56
  Speaker 2: It's coming to an end, and that's why I think
• 16:59
  Speaker 2: silver hasn't on yet.
• 17:00
  Speaker 3: And this is what I wanted to show you. So
• 17:02
  Speaker 3: what do you think. Am I on something or on something?
• 17:05
  Speaker 4: Do you remember the guy Beerman and he was around
• 17:08
  Speaker 4: like when I first started in the space, and he said,
• 17:13
  Speaker 4: silver is the worst investment in the world, and it's
• 17:17
  Speaker 4: going to continue to be the worst investment in the
• 17:19
  Speaker 4: world until one day you're going to wake up and
• 17:22
  Speaker 4: silver is going to be the best investor.
• 17:24
  Speaker 3: Yeah, in the world.
• 17:25
  Speaker 4: And it seems to me that that's where we're we're heading.
• 17:31
  Speaker 4: I don't know if those the actual military consumption is
• 17:35
  Speaker 4: hidden in those numbers. I don't know if they're sitting
• 17:38
  Speaker 4: on a huge, huge mountain of it someplace in the US.
• 17:43
  Speaker 4: Very possible because my understanding was for World War Two
• 17:48
  Speaker 4: they accumulated way more than they ever needed. They needed
• 17:51
  Speaker 4: it from the atomic bomb, I believe, and they were
• 17:54
  Speaker 4: sitting on, like, you know, billions of ounces of it.
• 17:58
  Speaker 4: I have no idea how much. And you know, I
• 18:02
  Speaker 4: think it's very likely though, that there's an awakening coming here.
• 18:07
  Speaker 4: And just like we figured out the emperor had no cortex,
• 18:12
  Speaker 4: we're going to figure out that the emperor's jewelry is
• 18:16
  Speaker 4: is eight carrot gold filled fake stuff right that the
• 18:20
  Speaker 4: crown jewels got hopped a long time ago with the crown.
• 18:25
  Speaker 2: Well, you know, Big Sweir did a great interview last year.
• 18:28
  Speaker 2: I remember I was out in the backyard. You know,
• 18:31
  Speaker 2: I do a lot of research for my podcast, and
• 18:33
  Speaker 2: so i'll listen to your show. I listened to the
• 18:35
  Speaker 2: one with Martin Armstrong recently and which was fantastic, and others,
• 18:40
  Speaker 2: and to gather information to talk about I spent a
• 18:42
  Speaker 2: lot of time researching, and I remember laying on the
• 18:45
  Speaker 2: raft and my swimming pool listening to Big Squear's three
• 18:48
  Speaker 2: part interview with Jack Sermon, and he's the man who
• 18:53
  Speaker 2: developed really the silver eagle program for the US Mint.
• 18:55
  Speaker 2: He seventy five years old, and I don't know if
• 18:57
  Speaker 2: he was clearing his conscience or what, but I literally
• 18:59
  Speaker 2: fell almost into the pool after he said what he said.
• 19:03
  Speaker 2: And I think it's an interview people should really listen
• 19:05
  Speaker 2: to and ask yourself, you know, is there a fine
• 19:08
  Speaker 2: line between conspiracy and reality? And I have a hard
• 19:11
  Speaker 2: time believing that there isn't And I don't look at
• 19:15
  Speaker 2: myself as being conspiratorial, but when you look at the facts,
• 19:19
  Speaker 2: it just continually all around us. And one of my
• 19:23
  Speaker 2: favorite lines lately is is it too stupid to be stupid?
• 19:26
  Speaker 2: Or is it too stupid to not be planned? But
• 19:28
  Speaker 2: when we listened to what Jack Sermon said, he said, look,
• 19:32
  Speaker 2: this was in twenty twenty and twenty twenty one, he said,
• 19:36
  Speaker 2: you know, the Mint came to me and they said,
• 19:38
  Speaker 2: we want you only to release as few silver eagles
• 19:42
  Speaker 2: as you possibly can to hold back public outcry. And
• 19:48
  Speaker 2: in all of twenty twenty, twenty twenty one, twenty twenty two,
• 19:51
  Speaker 2: twenty twenty three, most of it the US MINT was
• 19:53
  Speaker 2: the model of inefficiency, where I could import coins from Australia,
• 19:58
  Speaker 2: South Africa, United Kingdom at fractions of the price of
• 20:02
  Speaker 2: silver eagles, which we were buying back from the public
• 20:05
  Speaker 2: at eleven bucks over spot, twelve bucks over spot selling
• 20:08
  Speaker 2: for thirteen overspot or fourteen overspot. Massive premiums, massive spreads,
• 20:14
  Speaker 2: not enough silver to go around. And he said he
• 20:17
  Speaker 2: was told to do that from his superiors. Well, who
• 20:19
  Speaker 2: would his superior be. That'd be Janet Yellen.
• 20:21
  Speaker 3: Yeah, the Secretary of the treasure.
• 20:22
  Speaker 2: Right And so Janet said, you know, just as few
• 20:25
  Speaker 2: as possible. This went on for three years. He said,
• 20:28
  Speaker 2: you know, before I was working for the MINT, I
• 20:32
  Speaker 2: was on the supply side. I was an authorized purchaser
• 20:35
  Speaker 2: for one of the big companies, and I know how
• 20:37
  Speaker 2: this side works. And they came to us at the
• 20:39
  Speaker 2: end of last year. At the time, it would have
• 20:41
  Speaker 2: been twenty twenty one. I probably are twenty twenty two
• 20:44
  Speaker 2: he was talking about, and he said, we'll take another
• 20:46
  Speaker 2: thirty six million, or they said we'll take another thirty
• 20:49
  Speaker 2: six million coins, and we gave him like another twelve million.
• 20:52
  Speaker 2: The point of it is is that the US MINT
• 20:54
  Speaker 2: is supposed to issue as many silver eagles as is
• 20:56
  Speaker 2: demanded by public. It's in the chartered law, and they
• 21:00
  Speaker 2: didn't one hundred percent.
• 21:02
  Speaker 3: They didn't.
• 21:02
  Speaker 2: So were they Are they stockpiling silver? Were they putting
• 21:06
  Speaker 2: it away and viewing it as strategic? And when you
• 21:09
  Speaker 2: look at at the goal that went missing, uh, from
• 21:13
  Speaker 2: Saddam Hussein and from Kadafi? Where did all of that
• 21:16
  Speaker 2: gold and silver? And what about the twelve billion that
• 21:19
  Speaker 2: that the Ukraine sold to fund the war? My point
• 21:22
  Speaker 2: is is that we don't update any of these numbers
• 21:25
  Speaker 2: gold and silver. But I will tell you they, in
• 21:27
  Speaker 2: my mind carry the military industrial complex is probably the
• 21:30
  Speaker 2: ones pulling the string.
• 21:31
  Speaker 3: Uh not not Biden? And sure everything right.
• 21:35
  Speaker 2: And so if you need silver to make these weapons
• 21:38
  Speaker 2: and to make high tech aerospace and weaponry and even
• 21:42
  Speaker 2: you know, even things like you know, nuclear submarines, you
• 21:45
  Speaker 2: need lots of silver. You have to keep the price
• 21:48
  Speaker 2: down or very quickly you end up in trouble. I mean,
• 21:51
  Speaker 2: and maybe it is a conspiracy, maybe I am off base,
• 21:54
  Speaker 2: but when you see them take it out of the
• 21:56
  Speaker 2: supply demand numbers, and when you see seven Western banks
• 22:01
  Speaker 2: shorting a commodity that is globally demanded and running out
• 22:05
  Speaker 2: of availability. In terms of its geologic footprint, it's at
• 22:09
  Speaker 2: a seven to one ratio right now, meaning seven ounces
• 22:12
  Speaker 2: of silver for every one ounce of gold mine. It
• 22:15
  Speaker 2: was sixteen to one for five thousand years. So it's
• 22:17
  Speaker 2: decreasing in nature really at the same time it's accelerating
• 22:21
  Speaker 2: and its uses take military out of it. You have
• 22:23
  Speaker 2: green and digital applications and ed copious amounts of it.
• 22:27
  Speaker 2: You know, this green new deal. Without silver, you're in trouble.
• 22:30
  Speaker 2: And of course the new Samsung battery. As someone who
• 22:35
  Speaker 2: you know, I think you might drive at Tesla and
• 22:37
  Speaker 2: now they're talking about state. Yeah, they're talking about these
• 22:40
  Speaker 2: new batteries that will charge in nine minutes and will
• 22:44
  Speaker 2: you know, go like six hundred miles or whatever it is,
• 22:47
  Speaker 2: And that's a game changer. But they will take over
• 22:50
  Speaker 2: a kilo of silver per car, And so, you know,
• 22:56
  Speaker 2: is a conspiracy?
• 22:57
  Speaker 3: I don't know, but I do know that there was
• 22:59
  Speaker 3: a whole.
• 23:00
  Speaker 2: Disortium of companies in Canada that have petitioned the Canadian
• 23:03
  Speaker 2: government to reclassify silver as a strategic metal. In my mind,
• 23:07
  Speaker 2: there on to something and we ought to do the
• 23:10
  Speaker 2: same thing too. Maybe we have we just haven't been
• 23:12
  Speaker 2: honest about it and instead are doing the shenanigans like
• 23:15
  Speaker 2: this in order to fund the ever, ever increasing war
• 23:19
  Speaker 2: drum that we see all around the world.
• 23:22
  Speaker 4: Yeah, well it's definitely beating loudly now, that's for sure.
• 23:27
  Speaker 4: You know, it's hard to know. It's kind of like
• 23:32
  Speaker 4: going to have to connect the dots after it happens,
• 23:35
  Speaker 4: because we're not able to connect the dots as it happens.
• 23:39
  Speaker 4: We get some glimpses here and there, we get some indications,
• 23:43
  Speaker 4: but we never really know for sure until the dam bursts.
• 23:47
  Speaker 4: But clearly something isn't right. Why silver, of all the
• 23:52
  Speaker 4: commodities in the world, is there that kind of short position.
• 23:55
  Speaker 4: Is it just oh, we make so much money at it?
• 23:58
  Speaker 4: And remember remember what happened to bear Stearns right, and
• 24:03
  Speaker 4: then they had to hand off the shorts because they
• 24:06
  Speaker 4: were gone. So it seems like something is a miss. Well,
• 24:11
  Speaker 4: that's another video that people need to watch. That's probably
• 24:13
  Speaker 4: the most important video I've ever watched in this industry,
• 24:17
  Speaker 4: and that's Chris Marcus Arkadie Economics. His video with Bart Chilton,
• 24:22
  Speaker 4: who was the former head of the CFTC, the Commodity
• 24:24
  Speaker 4: Future Trading Commission the Commodity Police, where he admitted to
• 24:28
  Speaker 4: Chris in an interview, he said, yeah, bear Stearns failed
• 24:31
  Speaker 4: and we called we being Hank Paulson and Ben Bernanke
• 24:37
  Speaker 4: called Jamie Diamond into the office and said we need
• 24:40
  Speaker 4: you to take over bear Stern Short position. I think
• 24:43
  Speaker 4: the way it happened was, hey, Jamie, it's great to
• 24:46
  Speaker 4: see you. You are now the proud owner of bear
• 24:50
  Speaker 4: Stern's silver short position, right, welcome to Wall Street.
• 24:53
  Speaker 2: Well, and that's pretty much the way it went. And
• 24:55
  Speaker 2: Jamie said, well, listen, guys, I'll do it, but I
• 24:57
  Speaker 2: don't really want it. I'll be in violation of position limits. Okay,
• 25:01
  Speaker 2: that's fine. Just to get your house in order. You
• 25:04
  Speaker 2: have like ninety days to do so, and all is good.
• 25:07
  Speaker 2: While at the end of the ninety day period, he
• 25:09
  Speaker 2: said he went into his superiors and said, well, Jamie
• 25:12
  Speaker 2: didn't in fact didn't shorten his position. He's increased it.
• 25:14
  Speaker 2: He's in violation of our agreement in antitrust law. They
• 25:17
  Speaker 2: need to be prosecuted. And he said this on Chris's
• 25:21
  Speaker 2: podcast and google it Chris Marcus Arcadia Economics Part childon
• 25:25
  Speaker 2: he said he was told to back down that it
• 25:28
  Speaker 2: was a political decision, whatever that means. And he died
• 25:33
  Speaker 2: about a week later. And I'm not saying there's a
• 25:35
  Speaker 2: coincidence there.
• 25:36
  Speaker 3: But he did. He died, and he admitted this.
• 25:38
  Speaker 2: In Chris's show. Maybe he was clearing his conscience. I
• 25:41
  Speaker 2: don't know. But when you think of of JP Morgan
• 25:45
  Speaker 2: receiving a nine hundred and twenty million dollar fine for
• 25:47
  Speaker 2: suppressing the metals market, they're head trader Michael Noak, who
• 25:50
  Speaker 2: I had lunch with in New York City a few
• 25:53
  Speaker 2: years back. He didn't even know I was at the table.
• 25:56
  Speaker 2: There were about twenty guys there, and he's in prison.
• 26:00
  Speaker 2: And yet that year their medals desk, JP's metals desk
• 26:04
  Speaker 2: made a billion dollars. They were fined nine hundred and
• 26:07
  Speaker 2: twenty million, they get to keep the eighty million, and
• 26:09
  Speaker 2: they're still allowed to be the custodian of the world's
• 26:12
  Speaker 2: largest silver trust.
• 26:13
  Speaker 3: Something is wrong.
• 26:14
  Speaker 2: But when you think he was then told the back
• 26:17
  Speaker 2: down was a political decision, And now think about what
• 26:20
  Speaker 2: I was saying about suppressing the price of silver to
• 26:22
  Speaker 2: fund military industrial complexes, acquisition and development of high tech weaponry.
• 26:27
  Speaker 2: So this is a lot bigger than it just being
• 26:29
  Speaker 2: a commodity that is used for solar panels. And there's
• 26:34
  Speaker 2: a lot that goes on that we don't know about,
• 26:36
  Speaker 2: but I will tell you this. Martha Stewart went to
• 26:38
  Speaker 2: jail for insider trading and JP Morgan is handed the biggest,
• 26:43
  Speaker 2: the biggest fine the Justice Department ever laid out, and
• 26:45
  Speaker 2: yet they're still allowed to be this custodian of the
• 26:47
  Speaker 2: of SLV talk about the filest guard in the henhouse
• 26:50
  Speaker 2: in trust shaving. Well, that's the point. And I just
• 26:54
  Speaker 2: think people when we talk about connecting the dots, it's
• 26:57
  Speaker 2: you know, I've been doing this for four years publicly
• 27:00
  Speaker 2: saying this is what I think a lot of it's
• 27:01
  Speaker 2: come true, which is very scary, and I'm out here
• 27:04
  Speaker 2: saying this.
• 27:05
  Speaker 3: It's too stupid to be stupid. Wake up.
• 27:07
  Speaker 2: And you know, maybe I'm wrong, maybe I'm stupid per
• 27:10
  Speaker 2: saying it, but I will tell you this carried nothing
• 27:13
  Speaker 2: I have ever heard would would explain why you have
• 27:16
  Speaker 2: eight banks shorting a commodity like this that is in
• 27:21
  Speaker 2: a massive you know, this is a shortage now going
• 27:27
  Speaker 2: on three years.
• 27:27
  Speaker 3: This is a structural shortage.
• 27:29
  Speaker 2: It's not getting better in an asset that is, it's
• 27:32
  Speaker 2: depleting in nature, it's increasing in industrial applications and monetary applications,
• 27:37
  Speaker 2: and yet you have all these banks shorting it, with
• 27:39
  Speaker 2: countries like India and China voraciously accumulated.
• 27:42
  Speaker 3: It seems as dumb as a mud wall to me.
• 27:45
  Speaker 4: Well, our government has never been the brightest, that's for sure,
• 27:49
  Speaker 4: and they certainly haven't gotten smarter over the years.
• 27:53
  Speaker 3: So there and they're they have.
• 27:55
  Speaker 4: It's run by sociopaths, so they have no limits, no
• 28:00
  Speaker 4: constraints to anything they do. So anything you're telling me
• 28:04
  Speaker 4: would not surprise me. It's true. It seems more likely
• 28:08
  Speaker 4: than not something is going on there. Something's amiss, something,
• 28:12
  Speaker 4: doesn't they add out, you know, the biggest commodity market
• 28:16
  Speaker 4: in the world energy, right, and the hedges out there
• 28:20
  Speaker 4: are like mini school compared to this.
• 28:23
  Speaker 3: So that's the point.
• 28:24
  Speaker 2: That's that's the point in silver is such a small
• 28:26
  Speaker 2: market why And I think that if it were one
• 28:30
  Speaker 2: or two banks, fine, but eight banks holding down the
• 28:32
  Speaker 2: price of the way that they are, it's just something
• 28:36
  Speaker 2: is silly about all this. And like I said, when
• 28:38
  Speaker 2: you see China flying around the world paying way more
• 28:41
  Speaker 2: than the West will pay for unrefined silver and concentrate
• 28:44
  Speaker 2: and sending it back and refining it there. That means
• 28:46
  Speaker 2: all of that silver they're buying directly from the from
• 28:49
  Speaker 2: the miners themselves isn't coming off of an exchange, and
• 28:53
  Speaker 2: so the price isn't affected. And not to mention, how
• 28:57
  Speaker 2: many people know, they're the second largest producer of silver
• 28:59
  Speaker 2: in the world behind Mexico, and the largest producer of
• 29:04
  Speaker 2: gold in the world. And they were always net exporters
• 29:07
  Speaker 2: because of all the by product mining they do of
• 29:09
  Speaker 2: other metals, and they would have tons of extra silver
• 29:12
  Speaker 2: if they're smelters. That's now all being kept in house,
• 29:15
  Speaker 2: and they are a net importer. I think Zolty and
• 29:18
  Speaker 2: Posar would be the guy that I would like to
• 29:20
  Speaker 2: have on your show if I were you and someday
• 29:23
  Speaker 2: online doubt because he's talking about Bretton Wood's three he
• 29:27
  Speaker 2: or she who has the commodity's wins, And I think
• 29:29
  Speaker 2: China and India and the bricks nations are trying their
• 29:31
  Speaker 2: best to show us that without.
• 29:34
  Speaker 4: Showing it to us. If you will, Yeah, what is
• 29:36
  Speaker 4: Celeni say? Went in doubt to start a laurer right?
• 29:39
  Speaker 2: And he also says when people lose everything, they lose
• 29:41
  Speaker 2: it is it? Well, Harry, I really do appreciate you,
• 29:46
  Speaker 2: you know.
• 29:46
  Speaker 3: I know this was a little bit raw for our
• 29:48
  Speaker 3: first first goal. We didn't have anything really to talk about,
• 29:52
  Speaker 3: or I always got things glad to talk about. My
• 29:54
  Speaker 3: wife tells me, and I never shut up. I can
• 29:56
  Speaker 3: always go.
• 29:56
  Speaker 2: Just put a quarter in me, but I know, yeah,
• 29:59
  Speaker 2: she should. I do appreciate you hooking me up like
• 30:03
  Speaker 2: this and nourice. This will be number one of a gazillion,
• 30:06
  Speaker 2: and I'll make sure that you're back again sometime soon, Joshua.
• 30:09
  Speaker 3: But thank you brother, anytime, eh, pleasure? Thank you. So
• 30:12
  Speaker 3: that's it. We'll see you again next time. They give
• 30:14
  Speaker 3: them your website. Oh that's right.
• 30:17
  Speaker 2: For any information, best to send an email to info
• 30:20
  Speaker 2: at Miles Franklin dot com, where we will provide our
• 30:23
  Speaker 2: priceless We keep close to the best one that is
• 30:26
  Speaker 2: really tough to beat.
• 30:27
  Speaker 3: Any questions you've heard on this or anything else.
• 30:30
  Speaker 2: Info Atmiles Franklin dot com and we will be sure
• 30:33
  Speaker 2: and with no obligations, send you what you're looking for.
• 30:36
  Speaker 3: If it's just a priceless that's great.
• 30:37
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• 30:40
  Speaker 2: down and thanks for listening.
• 30:42
  Speaker 3: We'll see you next time.
• 30:43
  Speaker 4: Make sure you subscribe to the Miles Franklin newsletter because
• 30:47
  Speaker 4: it's got the vital information that you can't live without.
• 30:51
  Speaker 3: This is number one. Won't be so rusty next time.
• 30:54
  Speaker 1: We're good, all right, all, thanks for listening to carry
• 30:57
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• 31:02
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• 31:06
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