Latest / The Crest Report / The Experts Were Wrong by 3x, Texas Made Gold Legal Tender, and Iran Captured a Submarine

Transcript

The Experts Were Wrong by 3x, Texas Made Gold Legal Tender, and Iran Captured a Submarine · The Crest Report

• 0:18
  SPEAKER_00: From Golden Crest Metals, this is the Crest Report, where markets meet reality.
• 0:23
  SPEAKER_00: Your weekly briefing on the economy, gold, silver, and protecting what you've built.
• 0:28
  SPEAKER_00: And now, here's your host, Jeremy Harrell.
• 0:34
  SPEAKER_01: Well, good morning, good afternoon, good day.
• 0:37
  SPEAKER_01: It depends on where you're watching, but one thing is for sure.
• 0:42
  SPEAKER_01: You're locked and loaded right here on the Crest Report.
• 0:47
  SPEAKER_01: Your one-stop shop for all of your precious metal information to help you decide what's best for you is now the time for you to diversify your portfolio with gold, silver, platinum, and platinum.
• 1:04
  SPEAKER_01: I can tell you what, news coming out of Florida and other states are saying they're about ready, or they already have plans to make gold and silver legal tender.
• 1:16
  SPEAKER_01: Why would they be doing that?
• 1:18
  SPEAKER_01: There is so much brightness in the future of precious metals, and it's only getting brighter.
• 1:26
  SPEAKER_01: Folks, we have got one heck of a show lined up for you today.
• 1:30
  SPEAKER_01: And at any time during this podcast that you want to talk to somebody here at Golden Crest Metals, you can do that.
• 1:39
  SPEAKER_01: And you can do that by calling 888-991-6222.
• 1:46
  SPEAKER_01: Now, if I had a good singing voice, there would be a jingle there.
• 1:49
  SPEAKER_01: Call 888-991-6222.
• 1:53
  SPEAKER_01: But that is the phone number.
• 1:54
  SPEAKER_01: You can also go to myfreegoldinfo.com.
• 1:58
  SPEAKER_01: That's myfreegoldinfo.com or text the word report.
• 2:02
  SPEAKER_01: That's report to M-E-T-A-L-S.
• 2:06
  SPEAKER_01: Text the word report to Metals or 638257.
• 2:12
  SPEAKER_01: Again, you're listening to the Crest Report.
• 2:15
  SPEAKER_01: And we're very excited to have you here today.
• 2:17
  SPEAKER_01: Let's go through some of the topics that we're going to be discussing today on this beautiful Saturday.
• 2:23
  SPEAKER_01: In segment number one, we're going to be talking about the jobs report that we got this past week.
• 2:29
  SPEAKER_01: What a great number that we got there.
• 2:32
  SPEAKER_01: We're also going to be talking about the Iran conflict and where we're at with that, because that really is the, it seems to be the key to all the news that we get every week.
• 2:44
  SPEAKER_01: Because, you know, the price of energy, the price of oil, gas, diesel, uh, it makes the world go round.
• 2:50
  SPEAKER_01: You know, they say money makes the world go round, and I would agree with that to a certain extent.
• 2:56
  SPEAKER_01: But absolutely, energy, gas, diesel, fuel, whatever, oil, heating oil, it makes the world go round.
• 3:04
  SPEAKER_01: We're obviously going to dig into gold, into silver, talking about though the uh the prices of them both right now, and what has uh is the driving force behind those prices, as we do every week.
• 3:17
  SPEAKER_01: Um, we're then gonna step into segment three of today's show and talk about, like I said, Florida and Texas just made gold legal tender.
• 3:31
  SPEAKER_01: Will silver be coming next?
• 3:34
  SPEAKER_01: Speaking of silver, we're gonna talk a little bit about silver and China's hidden hand in reshaping the gold, the uh global supply, and the rise of data centers, and what is going to be needed from silver.
• 3:47
  SPEAKER_01: And to be honest with you, um all through the week, while I report the news, data centers, flock cameras, these things are the talk of the town.
• 3:59
  SPEAKER_01: Negatively or positively, mostly negatively, when it comes to the perception of data centers and flock cameras, more negatively on the flock cameras than the data centers, but there's a lot of negativity out there about the data centers as well.
• 4:11
  SPEAKER_01: There's a lot of misinformation out there about the data centers.
• 4:15
  SPEAKER_01: And uh, you know, the one thing is for sure is that silver is gonna be in a higher demand than any time in the history of silver, which is, I don't know, always.
• 4:28
  SPEAKER_01: Then we're gonna get into the rate hikes.
• 4:31
  SPEAKER_01: And are they going to happen?
• 4:34
  SPEAKER_01: Is the Fed is Kevin Worst gonna hike up those rates?
• 4:37
  SPEAKER_01: Uh, because the president is calling on him to drop those rates, especially with that new jobs report we got.
• 4:44
  SPEAKER_01: That and much more here on the Crest Report.
• 4:47
  SPEAKER_01: Again, folks, my name is Jeremy Harrell.
• 4:49
  SPEAKER_01: At any time that you want to talk to somebody here, Rich Jacoby and the Golden Crest Medal team are at their desks.
• 4:58
  SPEAKER_01: They're on their phones, and they're waiting for you to reach out to them.
• 5:02
  SPEAKER_01: Again, 888-991-6222.
• 5:06
  SPEAKER_01: Myfreegoldinfo.com.
• 5:10
  SPEAKER_01: Or text the word report to medals, which is 638-257.
• 5:15
  SPEAKER_01: And not the medals that you win in the Olympics.
• 5:18
  SPEAKER_01: We're talking M-E-T-A-L-S, that precious metal that we are all talking about here.
• 5:25
  SPEAKER_01: Now, one good thing about the reaching out to Goldencrest Medals now is the major offer that they are giving you free portfolio review, free investor kit, up to$25,000 in free silver with qualified purchases.
• 5:46
  SPEAKER_01: So if that sounds like something that you're ready to pull the trigger on, especially when you see what they're doing to 401ks, I know they look good right now, but don't, you know what?
• 5:55
  SPEAKER_01: You can also put lipstick on a pig.
• 5:58
  SPEAKER_01: It doesn't make it a different animal.
• 6:01
  SPEAKER_01: Do you know what I'm saying?
• 6:02
  SPEAKER_01: All right.
• 6:04
  SPEAKER_01: Let's get into this.
• 6:05
  SPEAKER_01: Um, thank you again for joining in.
• 6:07
  SPEAKER_01: And at any time you want to reach out, you know the line, you know the number, you know the website.
• 6:13
  SPEAKER_01: So let's get to it.
• 6:15
  SPEAKER_01: August added 62, excuse me, 162,000 jobs.
• 6:22
  SPEAKER_01: 162,000 jobs.
• 6:25
  SPEAKER_01: Do you want to know what that number represents besides the amount of jobs that we've saw that we saw added in in August?
• 6:32
  SPEAKER_01: It represents three times what was expected.
• 6:38
  SPEAKER_01: So, let's talk about that, shall we?
• 6:41
  SPEAKER_01: First of all, I never understand why people are called experts that never get it right.
• 6:49
  SPEAKER_01: Especially when the markets, which are very real and have a very real impact on your life, my life, and the world economy, especially when those markets hang on every word that the quote experts unquote say.
• 7:09
  SPEAKER_01: Which is why I think Kevin Warsh is actually very smart by not saying much.
• 7:16
  SPEAKER_01: Because if the markets hang on every word the experts, and again, using that word loosely, say, then what do you think the markets will do when Kevin Walsh, the head of the Fed, the Fed chair, says?
• 7:31
  SPEAKER_01: And I think he's very right in not in keeping his cards close to his tech, uh close to his chest.
• 7:40
  SPEAKER_01: Okay?
• 7:41
  SPEAKER_01: So we'll see what Kevin Warsh does here in the near future.
• 7:47
  SPEAKER_01: But because of that jobs report, President Trump is calling on Kevin Warsh to lower the rates.
• 7:57
  SPEAKER_01: And he's also uh talking about in between two and three dollar gas very quickly.
• 8:04
  SPEAKER_01: And so the markets are responding, but not as much as they would if Kevin Walsh came out and spoke.
• 8:11
  SPEAKER_01: So getting back to the so-called experts here, let's talk about these experts.
• 8:17
  SPEAKER_01: How are they experts when they get at this wrong?
• 8:20
  SPEAKER_01: Isn't their job supposed to be to somewhat accurately predict what's going to happen?
• 8:30
  SPEAKER_01: I mean, you would think there'd be some kind of a uh an equation or something to, you know, tangibly point to and say, this is why we predict this.
• 8:40
  SPEAKER_01: Okay?
• 8:42
  SPEAKER_01: But they were wrong by a lot.
• 8:45
  SPEAKER_01: They predicted 53,000 jobs.
• 8:50
  SPEAKER_01: So the market responds to that number, 53,000.
• 8:58
  SPEAKER_01: And then all of a sudden we get 162,000.
• 9:02
  SPEAKER_01: That's a very big difference.
• 9:05
  SPEAKER_01: They got it wrong by a lot, and it was ended up being three times what they thought.
• 9:11
  SPEAKER_01: So what do we, so how do we um how do we reconcile this?
• 9:19
  SPEAKER_01: How do we stop this from happening?
• 9:22
  SPEAKER_01: Because this can't be the norm, and it seems to be the norm all the time.
• 9:26
  SPEAKER_01: It seems to be like, and and again, this might be the conspiracy theorist in me.
• 9:33
  SPEAKER_01: But it almost seems like they do it on purpose.
• 9:37
  SPEAKER_01: Because how could you be this wrong?
• 9:40
  SPEAKER_01: Anyway, let's get to that number.
• 9:42
  SPEAKER_01: 162,000 in August alone.
• 9:47
  SPEAKER_01: Three times the forecast.
• 9:49
  SPEAKER_01: The unemployment rate held steady at 4.1%.
• 9:54
  SPEAKER_01: Trump called it beautiful.
• 9:57
  SPEAKER_01: The bond market called it a rate hike.
• 10:01
  SPEAKER_01: Okay.
• 10:03
  SPEAKER_01: So, one thing that a lot of people aren't talking about outside of the jobs report is the is the foundation of what this administration has been doing to actually fix the problem at the core and not put a band-aid on a bullet hole.
• 10:23
  SPEAKER_01: What am I talking about?
• 10:24
  SPEAKER_01: Well, one thing that you probably one thing that you probably have not uh heard from your mainstream media is the fact that manufacturing just hit a four-year high.
• 10:41
  SPEAKER_01: Manufacturing hit a four-year high.
• 10:44
  SPEAKER_01: Manufacturing wages are up seven percent.
• 10:47
  SPEAKER_01: Bottom earners in America wages are up 5.8%, and median home and median income earners are up four point six percent.
• 10:57
  SPEAKER_01: In August, those 162,000 jobs that were added, a majority of those jobs are occupied by women.
• 11:10
  SPEAKER_01: The workforce is getting stronger.
• 11:13
  SPEAKER_01: Manufacturing is coming back.
• 11:18
  SPEAKER_01: Folks, these are the foundational blocks of building a strong and long-lasting economy.
• 11:26
  SPEAKER_01: It may not look that way when you pay at the pump, it may not look that way when you pay for certain groceries, but in the end, you have to do these things in order to have a strong, viable economy that isn't that isn't a manipulated market the way China does.
• 11:44
  SPEAKER_01: So, strong jobs plus an elevated inflation equals the Fed has to cover raise rates.
• 11:56
  SPEAKER_01: The two-year Treasury yield spiked immediately after the report.
• 12:00
  SPEAKER_01: September rate hike odds jumped 60%, and that was per CME Fed Watch.
• 12:08
  SPEAKER_01: Every meeting is live now, or said so, and this report confirmed it.
• 12:15
  SPEAKER_01: So, even though we're seeing strong jobs and a strong job report, there is still massive negative speculation.
• 12:23
  SPEAKER_01: Okay.
• 12:26
  SPEAKER_01: Now, one good thing is we saw some good reports yesterday on inflation, and it looks like inflation is ticking downward, although, albeit very little, it is ticking downward.
• 12:40
  SPEAKER_01: And so when you get these strong job reports and you get these numbers coming out of the manufacturing and all the new jobs that people are starting to occupy, uh that's why President Trump is calling for Kevin Warsh to lower the rate.
• 12:55
  SPEAKER_01: Now, what will that do to gold and silver if he lowers that rate?
• 12:57
  SPEAKER_01: Well, that well, that's that's a whole nother conversation, but something that should be talked about, something that should be thought about.
• 13:07
  SPEAKER_01: So, where did the jobs come from?
• 13:09
  SPEAKER_01: Public schools accounted for nearly 42,000.
• 13:13
  SPEAKER_01: Teachers returning from 26 to 27 school year, food services, 59,000.
• 13:19
  SPEAKER_01: Construction, 22,000, healthcare, 12,000.
• 13:24
  SPEAKER_01: The information sector lost 23,000.
• 13:27
  SPEAKER_01: Scripps TV and Zillow both had layoffs.
• 13:30
  SPEAKER_01: Financial sector lost 12,000.
• 13:33
  SPEAKER_01: You know another big loss that's actually good news?
• 13:35
  SPEAKER_01: Government jobs.
• 13:37
  SPEAKER_01: That's one thing that the last administration like seemed to be on a mission to grow the amount of government jobs, and they were calling those jobs created.
• 13:47
  SPEAKER_01: You can't really call government jobs jobs created because they're taxpayer-funded jobs.
• 13:51
  SPEAKER_01: They don't really add anything to the private sector at all.
• 13:55
  SPEAKER_01: Now, when you look at President Trump's overall job numbers for his first year in office, it came through that he put a million private sector jobs.
• 14:05
  SPEAKER_01: A million private sector jobs were added in his first year.
• 14:10
  SPEAKER_01: Now, coming from the news side of me, this is only going to translate to good things coming to fruition.
• 14:16
  SPEAKER_01: But good things, especially when you're attacking the root of the problem and trying to rebuild the foundational blocks of a country, uh of a nation's economy, it takes a little time.
• 14:27
  SPEAKER_01: And unfortunately, we live in a microwave society and people don't like to wait.
• 14:33
  SPEAKER_01: And I understand why.
• 14:34
  SPEAKER_01: Some people can't afford to wait.
• 14:38
  SPEAKER_01: Now, July revised sharply higher.
• 14:42
  SPEAKER_01: July originally reported to have lost 23,000 jobs, but it was revised up by 44,000 to a plus 21,000.
• 14:54
  SPEAKER_01: So we didn't actually lose the jobs in July as we thought we did.
• 14:59
  SPEAKER_01: This is the difficulty trying to balance between a real number coming out in real time and then a revision the next month.
• 15:06
  SPEAKER_01: And it happens with every president in every term.
• 15:08
  SPEAKER_01: There's revisions up or down.
• 15:09
  SPEAKER_01: This time the revisions were up.
• 15:11
  SPEAKER_01: So June revised up 11,000 as well.
• 15:16
  SPEAKER_01: The labor market is strong, and it's stronger than the summer numbers suggested.
• 15:21
  SPEAKER_01: That makes the Fed's job harder.
• 15:25
  SPEAKER_01: Wages are still losing to inflation, but those numbers are starting to kind of, you know, mirror each other a little bit more than they were even a few months back.
• 15:37
  SPEAKER_01: But, however, average hourly earnings rose, but still lag behind inflation.
• 15:43
  SPEAKER_01: NBC News headline said, quote, wage growth continued to lag inflation, unquote.
• 15:50
  SPEAKER_01: Real purchasing power is still negative for most workers.
• 15:56
  SPEAKER_01: A job market that grows while wages lose to prices is stagflation, just with a few extra steps.
• 16:04
  SPEAKER_01: Now, our job here is to report to you what is happening, not so much what we forecast.
• 16:10
  SPEAKER_01: But the reason when you're listening to me do this podcast is that I am also a reporter and an investigator.
• 16:20
  SPEAKER_01: So my job daily is to not only report the facts of policy, much like I'm reporting the facts here with gold and silver, but my job is also to understand the underlying agenda and the mission at hand, read between the lines and understand what this administration is doing, what they want to do, and what must happen from now until then.
• 16:47
  SPEAKER_01: Now, mainstream media won't report all of that, which is why so many people tune into us and we show receipts.
• 16:53
  SPEAKER_01: They don't like the posity.
• 16:55
  SPEAKER_01: Negativity sells, positivity doesn't.
• 16:57
  SPEAKER_01: But I'll tell you what, anybody out there who owns a little gold and silver right now, you're probably feeling a little good, probably feeling a little positivity.
• 17:07
  SPEAKER_01: AI is driving this.
• 17:10
  SPEAKER_01: Kiplinger cited a Michael Casper analysis saying AI infrastructure investment could account for 2.5% of GDP in 2026.
• 17:22
  SPEAKER_01: Also, I'd like to report to you something that I reported this week during my news program, is GDP is coming in higher as well.
• 17:32
  SPEAKER_01: So we are seeing an increase to GDP.
• 17:35
  SPEAKER_01: Is that increase enough to cover the inflation number?
• 17:38
  SPEAKER_01: Not yet, but it's getting there.
• 17:40
  SPEAKER_01: And what I mean by that is a report came out two days ago that said GDP is expected to have a 4% growth.
• 17:52
  SPEAKER_01: Well, that's really close to the inflation number.
• 17:56
  SPEAKER_01: Those are good numbers.
• 17:58
  SPEAKER_01: Those are massively positive numbers.
• 18:01
  SPEAKER_01: But really, in the end, a lot of this re relies on the consumer and their confidence.
• 18:12
  SPEAKER_01: Do they have a lot right now?
• 18:14
  SPEAKER_01: Unfortunately, the wall between confidence and positivity and the consumer understanding what's on the other side of that wall is gas and some groceries.
• 18:25
  SPEAKER_01: Not all groceries, but some groceries, like protein, like meat.
• 18:30
  SPEAKER_01: That's the wall that people are stuck behind.
• 18:33
  SPEAKER_01: And it's very difficult to see around it or climb above it.
• 18:37
  SPEAKER_01: The AI build-out is creating jobs and keeping the comp uh economy running, but it also keeps inflation elevated.
• 18:46
  SPEAKER_01: The AI boom is both the economy's engine and its inflation problem simultaneously.
• 18:54
  SPEAKER_01: But if we're not leading in that AI boom, I can promise you I know a country by the name of China that does not care about arguing over data centers and dominating the world with artificial intelligence computing power.
• 19:14
  SPEAKER_01: Now, the one problem I think the world does is they see artificial intelligence and they think Terminator or robots taking over or jobs being lost to technology and to robots.
• 19:27
  SPEAKER_01: And there's real fear there because that is happening as we speak.
• 19:32
  SPEAKER_01: A lot of people, a lot of industries out there are losing jobs because of AI.
• 19:38
  SPEAKER_01: But instead of saying looking at the glass half empty, the key here is to look at the glass half full and say, okay, how can we use AI to generate other jobs and shift the way we work in this country?
• 19:51
  SPEAKER_01: Because that's happening with or without your approval.
• 19:54
  SPEAKER_01: So get ahead of it.
• 19:56
  SPEAKER_01: Okay.
• 19:58
  SPEAKER_01: So what's next?
• 19:59
  SPEAKER_01: The August CPI.
• 20:00
  SPEAKER_01: That's what's next.
• 20:01
  SPEAKER_01: The August CPI report is the last major data point before September 15th and 16th.
• 20:09
  SPEAKER_01: FOMC meeting.
• 20:11
  SPEAKER_01: Morgan Stanley's chief economist said this, and I quote, if those numbers come in cooler than expected, the Fed will likely feel comfortable discounting potentially inflationary signals from the labor market, unquote.
• 20:27
  SPEAKER_01: And we're going to watch that number closely.
• 20:29
  SPEAKER_01: All right?
• 20:30
  SPEAKER_01: Let's get into our second talking point in our second segment here today, which is now going to shift the conversation to Iran and what's going on there.
• 20:41
  SPEAKER_01: So, what we did find out over the last week and a half, or I should say, since the last crest report, is that deal was officially signed, by the way.
• 20:56
  SPEAKER_01: That deal for Venezuela's 65 to 90 billion barrels worth of oil over the next 25 to 100 years of this beautiful energy partnership with America and Venezuela, that was officially signed.
• 21:07
  SPEAKER_01: So that's good news.
• 21:09
  SPEAKER_01: Another thing we found out is that if you combine both what's going through the Strait of Hormuz right now with the pipeline that they opened up that they're now exporting and bringing out that oil, we are now combined those two.
• 21:25
  SPEAKER_01: We are now at pre-war, pre-conflict levels.
• 21:28
  SPEAKER_01: So there is no supply disruption.
• 21:30
  SPEAKER_01: There never really was because America filled the gap through the Gulf of America.
• 21:36
  SPEAKER_01: But I digress.
• 21:37
  SPEAKER_01: Let's get to the matter at hand here.
• 21:38
  SPEAKER_01: There is plenty of oil flowing from that strait.
• 21:43
  SPEAKER_01: So President Trump had a meeting since our last show with the um the oil to gas refineries.
• 21:52
  SPEAKER_01: And we talked about how they were operating at a 90% um operation rate with 0% buffer, really.
• 22:00
  SPEAKER_01: And so they're price gouging like crazy, just like ExxonMobil, just like Chevron.
• 22:04
  SPEAKER_01: If I had any criticism of a President Trump, it would be stop trying to negotiate with these people and put the screws to them quickly and say, if you do not stop price gouging and lowering these prices right now, then you're going to have a DOJ investigation on your hands that is going to cost you time, money, and energy.
• 22:21
  SPEAKER_01: Do you want that?
• 22:22
  SPEAKER_01: However, President Trump took the more diplomatic approach and had them into the White House in a closed press meeting and then came out, and a day later, truth social doubt that gas is going to drop very quickly.
• 22:36
  SPEAKER_01: Hang on.
• 22:38
  SPEAKER_01: So we'll see where that goes.
• 22:40
  SPEAKER_01: However, Iran did capture a U.S.
• 22:42
  SPEAKER_01: submarine, and oil is back near$100 a barrel.
• 22:46
  SPEAKER_01: The strait is as is at its lowest traffic since May because of that one thing.
• 22:58
  SPEAKER_01: Because of that one thing.
• 23:00
  SPEAKER_01: It slowed everything back down again.
• 23:03
  SPEAKER_01: So I don't know what President Trump's plan is, but he said when we win this war, and it will be very soon, gas will drop dramatically, and you're going to see$50 or less a barrel.
• 23:19
  SPEAKER_01: I, like you, pray that comes to fruition.
• 23:22
  SPEAKER_01: But Iran's Revolutionary Guard announced that it captured one of the most modern, intelligent, and unmanned submarines of the terrorists' U.S.
• 23:30
  SPEAKER_01: Navy.
• 23:32
  SPEAKER_01: That's their quote.
• 23:35
  SPEAKER_01: U.S.
• 23:36
  SPEAKER_01: War Department has not confirmed, whether true or partially true.
• 23:42
  SPEAKER_01: Whether true or partially true, it's significant escalation in the information war and a sign that the conflict is entering a new phase.
• 23:49
  SPEAKER_01: Now, I don't believe that that is true.
• 23:51
  SPEAKER_01: I believe that's Iran's propaganda.
• 23:54
  SPEAKER_01: However, it doesn't matter what I think, it matters what the markets think when they hear news like this.
• 23:59
  SPEAKER_01: Iran declared declared a maritime exclusion zone.
• 24:03
  SPEAKER_01: The head of Iran's Supreme National Security Council said Tehran is planning to announce a maritime exclusion zone outside of the strait where it intends to stop vessels attempting to transit without Iranian permission.
• 24:16
  SPEAKER_01: Because of the blockade that the U.S.
• 24:19
  SPEAKER_01: Navy has, Iran's plan is to go further outside of that and stop ships before they even get to that blockade.
• 24:28
  SPEAKER_01: Now, this is a formal assertion of a sovereign sovereignty over international waters.
• 24:34
  SPEAKER_01: Oil back near$100 a barrel.
• 24:40
  SPEAKER_01: The crazy thing about oil and its price is that when oil was$155 a barrel at a time under Obama, gas never got to as high as it is right now.
• 24:54
  SPEAKER_01: When oil was$120 plus dollars a barrel during the Biden administration, gas got to$5.10 a gallon average.
• 25:06
  SPEAKER_01: So you ask yourself, how is gas at the pump the cost that it is when we're under$100 a barrel?
• 25:18
  SPEAKER_01: Even when we were in the 70s a few weeks back, it really didn't move much.
• 25:23
  SPEAKER_01: Ask yourself why.
• 25:25
  SPEAKER_01: Now, the biggest misconception out there is that this is a president's fault.
• 25:29
  SPEAKER_01: But if you remember when the last administration was in, people were blaming the gas prices on the president.
• 25:37
  SPEAKER_01: And the biggest, you know, opposition to that was presidents don't control the gas prices.
• 25:44
  SPEAKER_01: Well, guess what?
• 25:45
  SPEAKER_01: They might not, but they do, their policy definitely affects gas prices, right?
• 25:55
  SPEAKER_01: Joe Biden's policy was to come in on day one, sell off all of the reserves that President Trump had accrued in his first term, kill the Keystone pipeline, stop fracking, put in massive environmental regulations, and ban offshore drilling in Alaska.
• 26:15
  SPEAKER_01: At the same time is funding$200 billion of cash and ammunition to Ukraine.
• 26:24
  SPEAKER_01: So there was a definite policy position that raised the price of gas then.
• 26:30
  SPEAKER_01: And our return on investment was absolutely nothing for that.
• 26:34
  SPEAKER_01: Now let's pivot to President Trump.
• 26:37
  SPEAKER_01: His policy decision to go and have a military conflict with Iran was the perfect opportunity for the gas and oil companies to immediately raise their prices.
• 26:49
  SPEAKER_01: This was before any refineries were shut down because of uh because of um, you know, missiles hitting or U.S.
• 27:01
  SPEAKER_01: ammunitions destroying the region or whatever.
• 27:04
  SPEAKER_01: Bombs and ammunition targeted at refineries in the area.
• 27:08
  SPEAKER_01: This was before any of that happened.
• 27:10
  SPEAKER_01: And gas immediately went up.
• 27:12
  SPEAKER_01: This was before there was a supply disruption or anything.
• 27:16
  SPEAKER_01: And even when there was a what do you want to call it, a temporary supply disruption, the Gulf of America ended up filling that gap.
• 27:24
  SPEAKER_01: So no country could ever say, and you didn't hear it any time, that any country said, we're not getting oil, we're not getting enough, you know, supply for our for our needs.
• 27:34
  SPEAKER_01: That never happened.
• 27:36
  SPEAKER_01: So this was a 100% escalation and increase in price by these oil and gas executives at OPEC.
• 27:48
  SPEAKER_01: So, what is our ROI on Trump's policy that caused gas to go back up?
• 27:53
  SPEAKER_01: Well, we ended up doing a 25 to 100 year deal with Venezuela to secure 65 to 90 billion barrels worth of oil.
• 28:03
  SPEAKER_01: That alone, even if we weren't producing, and we just operated off that, is 15 years day-to-day of the United States' need for oil.
• 28:14
  SPEAKER_01: That's a big return on investment.
• 28:17
  SPEAKER_01: Now we'll wait to see what happens with Iran in the strait, but if the United States ended up controlling that, as well as getting the deal with Venezuela, as well as becoming the largest natural gas and oil export uh exporter, then I'd say our ROI is huge if we can get gas back down to where Americans feel comfortable.
• 28:38
  SPEAKER_01: Then we've got then it was all worth it.
• 28:40
  SPEAKER_01: But let me get back to this.
• 28:42
  SPEAKER_01: Shipping data.
• 28:46
  SPEAKER_01: Two vessels passed through the strait on Saturday, six on Sunday, the 10-day average, 10 ships per day.
• 28:53
  SPEAKER_01: Now we were seeing 130 ships per day pre-war.
• 29:01
  SPEAKER_01: And just three weeks ago, with the ships that were going through in the pipeline that was pushing oil out, we were back to the output that we were pre-war.
• 29:09
  SPEAKER_01: But that one submarine conflict, or that one three-day, you know, Iranian excursion, you might want to call it, kind of reversed all that within a few days.
• 29:31
  SPEAKER_01: Crude exports are down 47%.
• 29:33
  SPEAKER_01: Gulf region crude exports have dropped nearly half.
• 29:37
  SPEAKER_01: And I and and but remember what I said though, okay?
• 29:41
  SPEAKER_01: Remember what I said.
• 29:43
  SPEAKER_01: The United States of America's exports increased to cover that.
• 29:47
  SPEAKER_01: So even though we've seen a 17 million barrel a day down to 9 billion barrel a day reduction coming from the strait, it still had been the gap had still been filled by the United States of America.
• 30:06
  SPEAKER_01: These are things, these are this is information that you're not getting from the mainstream media.
• 30:10
  SPEAKER_01: So that I it doesn't really help you or I to have a blame game.
• 30:16
  SPEAKER_01: Like this person did this, so I'm gonna point my finger at this person.
• 30:20
  SPEAKER_01: But at least you know why.
• 30:23
  SPEAKER_01: And knowledge is power, and the more knowledge that you have over stuff like this, the better off you'll be when you make decisions about whether you want to diversify your portfolio or not with gold and silver.
• 30:36
  SPEAKER_01: Trump secured 65 to 90 billion barrels with Venezuela.
• 30:41
  SPEAKER_01: That's great.
• 30:43
  SPEAKER_01: These are long-term moves, like I said.
• 30:46
  SPEAKER_01: American consumers, they care about today.
• 30:51
  SPEAKER_01: And Brent being near$100 means above$4 a gas nationally.
• 30:56
  SPEAKER_01: That's gotta change.
• 30:58
  SPEAKER_01: Period.
• 30:58
  SPEAKER_01: All of this that I'm telling you is good information to have, but information doesn't fill your gas tank, does it?
• 31:08
  SPEAKER_01: But it does help you decide your future.
• 31:12
  SPEAKER_01: Let's look at gold.
• 31:15
  SPEAKER_01: Gold is up six percent in 30 days while stocks went down.
• 31:19
  SPEAKER_01: The world's biggest money managers are rebuilding gold positions.
• 31:25
  SPEAKER_01: 6% in 30 days while stocks are down.
• 31:31
  SPEAKER_01: Again, at any time, folks, that you want to get a hold of somebody here at the Crest Report at GoldenCrest Medals, myfreegoldinfo.com.
• 31:39
  SPEAKER_01: I highly suggest that you call today and at least have a conversation with somebody on the team.
• 31:48
  SPEAKER_01: Having that first conversation is a step, is the next step to you deciding, okay, should I take a little bit more of my savings and invest in silver and gold?
• 31:56
  SPEAKER_01: And I can tell you, as a as an investor myself, there is nothing like holding it physically in your hand, knowing that you have a secure future in your hand.
• 32:06
  SPEAKER_01: And trust me, when you go to liquidate that, you're not gonna have a problem selling it.
• 32:12
  SPEAKER_01: And you're not gonna get ripped off or hosed.
• 32:14
  SPEAKER_01: It's not gonna be the case.
• 32:16
  SPEAKER_01: Especially not what Golden Crest Medals is in your corner.
• 32:19
  SPEAKER_01: 888-991-6222.
• 32:23
  SPEAKER_01: That is 888-991-6222, or text the word report to METALS medals.
• 32:31
  SPEAKER_01: And that is 638-257.
• 32:33
  SPEAKER_01: Text the word report to 638-257.
• 32:38
  SPEAKER_01: Let's get into that great news, the gold.
• 32:41
  SPEAKER_01: As of the first week of September, gold was up 6%, silver's up 10%.
• 32:46
  SPEAKER_01: The Dow Jones down 1.5, or excuse me.
• 32:49
  SPEAKER_01: Yes, the Dow Jones down one uh 1.45%, SP 500 down 0.33%, Nasdaq down 0.43%.
• 32:58
  SPEAKER_01: In the last 30 days, gold and silver made money, the stock market lost money.
• 33:02
  SPEAKER_01: Period.
• 33:03
  SPEAKER_01: It doesn't get more cut and dry than that.
• 33:05
  SPEAKER_01: It doesn't get more straight from the hip cut to the chase than that right there.
• 33:09
  SPEAKER_01: Not at all.
• 33:11
  SPEAKER_01: Those are real numbers.
• 33:14
  SPEAKER_01: Bloomberg reported on September 4th, the world's largest institutional money managers are actively rebuilding their gold positions.
• 33:23
  SPEAKER_01: Why?
• 33:24
  SPEAKER_01: Look at the numbers.
• 33:25
  SPEAKER_01: I just gave them to you.
• 33:27
  SPEAKER_01: This is not retail buying.
• 33:30
  SPEAKER_01: This is hedge funds, pension funds, sovereign wealth managers, the people that move the markets, the people that sit there and hang on every word or every information that comes out from the White House or from the Pentagon or from you know any financial news whatsoever.
• 33:47
  SPEAKER_01: That's them.
• 33:49
  SPEAKER_01: And guess what they're doing?
• 33:51
  SPEAKER_01: Rotating back to gold.
• 33:53
  SPEAKER_01: Goldman Sachs expects central banks to purchase 50 tones per month in 2026, up from 17 in 2022, from 17 to 50 in four years.
• 34:08
  SPEAKER_01: Why?
• 34:11
  SPEAKER_01: I think we know the answer to that.
• 34:13
  SPEAKER_01: Kind of a rhetorical question.
• 34:14
  SPEAKER_01: Didn't mean to have you answering your radio or your phone while listening to that.
• 34:20
  SPEAKER_01: But AP News.
• 34:46
  SPEAKER_01: When a country moves its physical gold and calls it crisis preparation, that tells you something about the environment central bankers think that they're in right now.
• 35:02
  SPEAKER_01: A Baron's writer put it perfectly when they said, quote, I wish I jumped into gold the last time I had an uh had a FOMO around the start of the year.
• 35:14
  SPEAKER_01: Fear of missing out.
• 35:15
  SPEAKER_01: Is it too late?
• 35:16
  SPEAKER_01: That's what I'm wondering.
• 35:18
  SPEAKER_01: But it's the wrong question to ask.
• 35:22
  SPEAKER_01: Unquote.
• 35:25
  SPEAKER_01: Gold is up 15% just in August.
• 35:31
  SPEAKER_01: But the reasons to own it are debt, debasement, central bank buying, geopolitical risk.
• 35:41
  SPEAKER_01: All of those things are not going away because a price went up two bucks or down two bucks.
• 35:50
  SPEAKER_01: So let's look at the five-year comparison.
• 35:53
  SPEAKER_01: Here's from Forbes data.
• 35:56
  SPEAKER_01: Five years ago, gold was worth a hundred and forty-five point six nine percent less.
• 36:08
  SPEAKER_01: I always tell you, look at the gold and silver chart in five-year increments.
• 36:13
  SPEAKER_01: Every week you hear me say that.
• 36:17
  SPEAKER_01: From five years ago today, gold is up a hundred and forty-five point six nine percent.
• 36:32
  SPEAKER_01: Is real estate up a hundred and forty-five percent in five years?
• 36:39
  SPEAKER_01: Are your investments in the stock market up a hundred and forty-five percent in five years?
• 36:48
  SPEAKER_01: Have you overdoubled your investment in the last five years?
• 36:56
  SPEAKER_01: Double and a half?
• 36:58
  SPEAKER_01: Gold did.
• 37:01
  SPEAKER_01: Gold did.
• 37:02
  SPEAKER_01: Let's look at some of the stocks.
• 37:03
  SPEAKER_01: SP up 70.60% over the same period.
• 37:09
  SPEAKER_01: Gold more than doubled the stock market's return over five years.
• 37:13
  SPEAKER_01: Through a pandemic, through rising rates, through a war.
• 37:21
  SPEAKER_01: The track record is public, too.
• 37:23
  SPEAKER_01: Don't take my word for it.
• 37:24
  SPEAKER_01: Go look.
• 37:27
  SPEAKER_01: If that's not the biggest reason that you should be calling Gold and Crest Medals right now, I don't know what is.
• 37:35
  SPEAKER_01: Goldman Sachs maintained its bullish thesis, too.
• 37:38
  SPEAKER_01: Gold up nearly 30% year over year, and the firm seems more uh the firm sees more room to run.
• 37:48
  SPEAKER_01: Their structural argument is rising global debt plus underallocation in central bank reserves equals the second half gold rally is just getting started.
• 38:04
  SPEAKER_01: You know those numbers that I tell you every week where these quote experts expect to see gold by the end of December?
• 38:12
  SPEAKER_01: None of that has changed.
• 38:14
  SPEAKER_01: None of it.
• 38:17
  SPEAKER_01: Let's move to the next segment here.
• 38:19
  SPEAKER_01: 401ks.
• 38:22
  SPEAKER_01: More Americans today are rating their 401ks for emergency.
• 38:27
  SPEAKER_01: And the tax traps are getting worse.
• 38:30
  SPEAKER_01: Every time they do it, you're paying.
• 38:34
  SPEAKER_01: Bloomberg reported this summer that more Americans than ever are taking early withdrawals from their 401k accounts to cover emergency expenses.
• 38:43
  SPEAKER_01: Inflation, higher bills, stagnant real wages are forcing people to treat their retirement savings as a checking account.
• 38:51
  SPEAKER_01: Every early withdrawal carries a 10% penalty plus income tax.
• 38:55
  SPEAKER_01: Now, if you borrow against it, I believe the tax is free.
• 39:00
  SPEAKER_01: I'm not 100% sure on that, but when I borrowed from my 401k years back, before I drained it and bought silver and gold, which I did, before that, I borrowed from it and it was tax-free.
• 39:14
  SPEAKER_01: Now I don't know if that still applies today.
• 39:16
  SPEAKER_01: I don't have a 401k anymore.
• 39:18
  SPEAKER_01: Kind of wish I did as a diversification, but my I diversified in two precious metals.
• 39:23
  SPEAKER_01: So that's my that's my secret.
• 39:32
  SPEAKER_01: A 750,000 traditional 401k can cost beneficiaries$120,000 in XX taxes that never planned for it.
• 39:42
  SPEAKER_01: The money grows, tax deferred.
• 39:44
  SPEAKER_01: But the government's cut comes when the money comes out.
• 39:48
  SPEAKER_01: At whatever income tax rate are at that time.
• 39:51
  SPEAKER_01: With a$40 trillion national debt, those rates are not going down, period.
• 39:58
  SPEAKER_01: Let's talk about the Social Security insolvency.
• 40:00
  SPEAKER_01: Fortune confirmed Social Security and Medicare are heading towards insolvency simultaneously.
• 40:05
  SPEAKER_01: This is a double whammy here.
• 40:09
  SPEAKER_01: Congress has had six years to act.
• 40:12
  SPEAKER_01: Has six years to act, excuse me.
• 40:15
  SPEAKER_01: But yet no plan exists.
• 40:18
  SPEAKER_01: The automatic benefit cut when the trust fund runs dry, 22 to 28%.
• 40:26
  SPEAKER_01: For the average couple, that is$10,000 per year gone overnight.
• 40:33
  SPEAKER_01: Your 401k is not a retirement account.
• 40:36
  SPEAKER_01: This is the reframe.
• 40:38
  SPEAKER_01: A traditional 401k is a tax-deferred account.
• 40:41
  SPEAKER_01: Every dollar in it is deferred tax liability.
• 40:45
  SPEAKER_01: The government is a silent partner in every dollar.
• 40:48
  SPEAKER_01: And the partner shows up when the withdrawals begin.
• 40:51
  SPEAKER_01: Hey, remember me?
• 40:54
  SPEAKER_01: At whatever rate they set at that time, by the way.
• 40:57
  SPEAKER_01: So with a$40 trillion debt and rising, ask whether tax rates are more likely to go up or down over the next 20 years.
• 41:09
  SPEAKER_01: When you look at it plain and simple like this, the answer is clear what you need to do.
• 41:17
  SPEAKER_01: A self-directed IRA is a little different.
• 41:19
  SPEAKER_01: Physical gold and silver held in a self-directed IRA can be structured as a Roth account, meaning growth and withdrawals are tax free.
• 41:27
  SPEAKER_01: It is not subject to the same Social Security tax trap.
• 41:31
  SPEAKER_01: It cannot be rated for emergency expenses without triggering the same penalties.
• 41:36
  SPEAKER_01: And it holds an asset that the government cannot print more of.
• 41:39
  SPEAKER_01: I think you know what that means.
• 41:42
  SPEAKER_01: Gold and silver.
• 41:55
  SPEAKER_01: Unemployment rises, or financial pressure increases?
• 41:59
  SPEAKER_01: The 401k as a retirement vehicle is showing its structural weaknesses right now in real time.
• 42:04
  SPEAKER_01: We can see them.
• 42:06
  SPEAKER_01: Now let's go to talk about Texas and Florida.
• 42:08
  SPEAKER_01: Texas and Florida, effective September 1st.
• 42:11
  SPEAKER_01: Texas officially recognizes gold and silver as legal tender.
• 42:14
  SPEAKER_01: Florida Senate Bill 1588 did the same effective July 1st.
• 42:18
  SPEAKER_01: Two of the largest states in the country have now formally recognized precious metals as actual money.
• 42:24
  SPEAKER_01: Not just a commodity or an investment, but as legal currency.
• 42:28
  SPEAKER_01: When states start passing laws like this, making gold and silver money again, this is a signal of what you better be doing.
• 42:34
  SPEAKER_01: Folks, this might be the largest and the most important, biggest news, huge news, as somebody would say it's huge news.
• 42:43
  SPEAKER_01: Excuse me.
• 42:44
  SPEAKER_01: Excuse me, I know huge news.
• 42:46
  SPEAKER_01: This is huge, huge news.
• 42:48
  SPEAKER_01: That's what he'd say.
• 42:52
  SPEAKER_01: That's what he would say.
• 42:53
  SPEAKER_01: But here's what Bernie would say.
• 42:55
  SPEAKER_01: I think that the oligarchs, the tech oligarchies, and the millionaires and the billionaires out there need to pay their fair share.
• 43:09
  SPEAKER_01: And I think that Florida and Texas making gold and silver legal currency is huge news.
• 43:21
  SPEAKER_01: That'd be Bernie Sanders.
• 43:23
  SPEAKER_01: Excuse me.
• 43:23
  SPEAKER_01: Just had to get my impersonations out there real quick.
• 43:26
  SPEAKER_01: But honestly, this is huge news.
• 43:29
  SPEAKER_01: It means gold and silver can be used to pay debts.
• 43:32
  SPEAKER_01: It means gold and silver can be used to pay taxes and other obligations within those states.
• 43:37
  SPEAKER_01: Hello, McFly.
• 43:41
  SPEAKER_01: More states will do this too.
• 43:42
  SPEAKER_01: You watch.
• 43:44
  SPEAKER_01: It means the state government is acknowledging that physical metal is a legitimate store of value and medium of exchange.
• 43:54
  SPEAKER_01: It's the first step in what some analysts call a return to sound money at a State level, and I think that's where it's gonna have to happen.
• 44:02
  SPEAKER_01: It's gonna have to trickle up.
• 44:06
  SPEAKER_01: This is the biggest news of the day.
• 44:11
  SPEAKER_01: And now let's dive into silver before we end today.
• 44:14
  SPEAKER_01: Silver's at 65 to 66 bucks an ounce, as of right now.
• 44:21
  SPEAKER_01: Now, when this airs, it might be a few bucks higher, but and China's buying all of it.
• 44:28
  SPEAKER_01: Silver's up 10% in the last 30 days.
• 44:32
  SPEAKER_01: While stocks lost money, silver gained 10%.
• 44:35
  SPEAKER_01: And China is buying the most of it.
• 44:38
  SPEAKER_01: Why?
• 44:39
  SPEAKER_01: Data centers.
• 44:40
  SPEAKER_01: Data centers, data centers, and data centers.
• 44:43
  SPEAKER_01: And when you top on solar, EVs, semiconductors, medical devices, and every AI data center need for silver, folks, the supply and demand is going to stretch even further.
• 44:58
  SPEAKER_01: Year over year, gold is up 73%.
• 45:03
  SPEAKER_01: A year ago it was 38 bucks.
• 45:07
  SPEAKER_01: That's huge.
• 45:10
  SPEAKER_01: Now it got up to 120, which it's gonna go back to.
• 45:15
  SPEAKER_01: But what we're seeing right now, folks, there is not enough silver in this world for everybody to do what they're doing.
• 45:23
  SPEAKER_01: So what does that say to you?
• 45:25
  SPEAKER_01: I'll tell you what it says.
• 45:26
  SPEAKER_01: It says, hey, you.com.
• 45:33
  SPEAKER_01: Very easy.
• 45:34
  SPEAKER_01: Myfregoldinfo.com.
• 45:37
  SPEAKER_01: Free portfolio review, free investor kit, up to$25,000 in free silver with qualified purchases.
• 45:46
  SPEAKER_01: We just talked about what gold and silver looked like five years ago.
• 45:49
  SPEAKER_01: Imagine what$25,000 of here it's free is going to do for you.
• 45:54
  SPEAKER_01: Imagine with qualified purchases.
• 45:58
  SPEAKER_01: $888-991-6222.
• 46:03
  SPEAKER_01: That's my jingle.
• 46:04
  SPEAKER_01: 888-62 uh 991-6222.
• 46:07
  SPEAKER_01: That's 888-991-6222.
• 46:11
  SPEAKER_01: Or text the word report to medals, M-E-T-A-L-S or 638-257.
• 46:16
  SPEAKER_01: Do this today.
• 46:18
  SPEAKER_01: Do it now.
• 46:19
  SPEAKER_01: Don't wait any longer.
• 46:21
  SPEAKER_01: Don't be the don't be of the FOMO.
• 46:25
  SPEAKER_01: Fear of missing out.
• 46:28
  SPEAKER_01: Folks, thank you very much for watching Golden Crest Metals, or I should say, listening to Golden Crest Metals today.
• 46:35
  SPEAKER_01: Thank you for listening to the podcast.
• 46:36
  SPEAKER_01: Thank you for allowing us to be here every single week so that we can all become more knowledgeable about our investments.
• 46:46
  SPEAKER_01: Having said that, I will see you next week right here on the Crest Report.
• 46:51
  SPEAKER_01: Thank you very much for listening, and I pray you have a wonderful week.
• 46:56
  SPEAKER_01: Get to investing and call now.
• 46:59
  SPEAKER_01: See you later, guys.
• 47:00
  SPEAKER_01: Have a good one.
• 47:01
  SPEAKER_00: Listening to the Crest Report, where markets meet reality, brought to you by Golden Crest Medals.
• 47:06
  SPEAKER_00: For your free portfolio review and free no obligation investor kit, plus up to$25,000 in free silver with qualified purchases.
• 47:15
  SPEAKER_00: Text the word report to M E T I L S.
• 47:19
  SPEAKER_00: That's report to 638-257.
• 47:22
  SPEAKER_00: Or call 888-991-6222.
• 47:26
  SPEAKER_00: Or visit GoldenCrestmetals.com.
• 47:29
  SPEAKER_00: See you next week.