Latest / Financial Survival Network / Record Highs: Unprecedented Surge in Gold and Bitcoin Prices - Craig Hemke #6014

Transcript

Record Highs: Unprecedented Surge in Gold and Bitcoin Prices - Craig Hemke #6014 · Financial Survival Network

0:00
And if you know, you open these ETPs, if they're to be real,
0:03
you know, not just simply owing going futures. But if they're to
0:07
be real, then they have to you know, cash flows into them,
0:10
and then they got to go buy bitcoin. Right. You can't just say,
0:13
ah, we know, we're just going to take our chances. So
0:15
that's what's been happening. There's been a surge of demand for bitcoin. We're
0:20
on a daily basis. There's not that much supply, and so if you've
0:22
got more demand than supply goes up. That's why you're listening to Carrie Let's's
0:26
Financial Survival Network, where you get valuable information you just can't find anywhere else
0:32
to thrive in today's trying times. You need the Financial Survival Network now more
0:38
than ever. Go to Financial Survivalnetwork dot com and get your free newsletter and
0:44
gift. Financial Survival Network now more than ever, and welcome you are listening
0:54
to and watching the Financial Survival Network. I'm your host, Carrie Let's say.
0:58
We're just in the first week of March. Gold has broken out,
1:00
Bitcoin's broken out, silver has not, the miners have not. What does
1:06
it all mean? You know, my next guest when he was on the
1:08
last time, he said gold twenty three hundred for the year. Now people
1:14
are looking for multi thousand dollars ounces and hey, is it really coming?
1:21
Craig Hemke Tfmetalsreport dot com is with us now, questions comments kl at Carrielouds
1:27
dot com. Craig, Hey, good to be back here. I assume
1:32
this isn't an AI representation of you, that it's really you, right it
1:37
is? AI would be much better looking and what's much less wrinkles. All
1:42
right, Well, next time I have you on, i'll ask you to
1:45
prove it. This time i'll take your work for it. So, but
1:52
the stock market's obviously being levitated by AI. And who knows. I mean,
1:59
I use it my self to do jobs that I hate to do,
2:02
like write show notes. It does it way better than me, and then
2:06
I just hate. Right, It's all good. But getting back here,
2:10
there are some real assets still left in the world, the gold among them.
2:15
Gold trading over twenty one hundred dollars now. The euphoria is kicking into
2:23
high gear. Bitcoin hit over sixty eight thousand. All time high was sixty
2:30
seven seven if I remember correctly, And now they're well Bitcoin's pulling back gold
2:38
is adding to its gains. What are we to make of this? Well,
2:44
in a big picture carry I think it's kind of confirming my pieces.
2:51
And not to make it sound like, oh that Craig is sure smart,
2:53
I just study history and I've told you this lots of times. Paradigm change
2:59
in two thousand and eight, okay, March about this time, I think
3:02
it was March the eighth or ninth or something like that. In two thousand
3:05
and nine when the ben Burdanc came out and started QI one right, and
3:12
it was a one off and oh no, no, no, we're not
3:15
monetizing the debt. No no, no, and we'll never do the regina
3:17
right. Okay, that's when the paradigm changed. That's when the FED suddenly
3:21
became, you know, the buyer blast resort, the provider of liquidity to
3:24
keep everything moving, right. And so unless that's wrong, or unless that
3:29
is shifted back, this notion that the FED, you know, higher for
3:32
longer and they're going to drown out inflation and they're serious this time, I
3:38
think it's folly because they've always they've proved as recently as last March, as
3:43
soon as the regional banks got in trouble, they had to come up with
3:46
a new alphabet soup thing, you know, that near term funding facility,
3:50
and you know, all this other stuff said, and they'll do it again.
3:53
And so I've always maintained that, and a lot of people think,
3:58
oh no, but whatever, we got the first hint of that. Then
4:00
back on Friday, I call them goons people, the Fed governors you know
4:05
that are all biblicity hounds, and if there's an open mic, they're going
4:09
to grab it. Goon Waller in a speech last Friday, said a couple
4:15
of things that have That's what is what is driving gold, and that is
4:19
basically he wants to do a new operation Twists as they call it, moving
4:26
the what they're buying into the short end of the yield curve. Okay.
4:30
By doing that, the idea would be that they would bring short term rates
4:36
down, okay, because they're buying short term buds, more buyers and sellers,
4:41
higher price, lower rate. Second degree thinking off of that then,
4:46
is if that then uninverts the yield curve. I mean most people know,
4:50
you know, inverted yield curve means there's going to be a recession. But
4:55
the recession begins when it uninverts. Hey, So secondary consideration here is if
5:02
they by short term notes and uninvert the yield curve, well, then now
5:08
the recession is starting. And then Waller also said by doing so, that
5:12
opens up our ability to buy longer dated stuff the next time we need to
5:17
do QE. Wait a second, I thought they were never going to do
5:19
it again, Carrie. People were telling me that just a couple of months
5:21
ago. So I'll say, when Waller said all that on Friday, that's
5:27
when gold took off. It was already up about ten dollars at rallied another
5:30
thirty. It followed on with thirty dollars. Game yesterday is now breaking out
5:35
to new all time highs. That's it is, you know, fine,
5:40
that's I couldn't be more excited. But I really I just cannot cautioned strongly
5:46
enough as someone who has invested fifteen years a lot of his life into this,
5:50
please do not allow yourself be ruled by your emotions over this stuff.
5:56
I mean, it was Carriy. Just a week ago. People were like
5:59
suicidal because gold wasn't going anywhere, and the stocks were down and this is
6:02
going to be worthless and I'm wasting my time you get an eighty dollars rally
6:08
and all of a sudden, if gold's not three thousand by the end of
6:10
this year, I'm an idiot. And it just doesn't work that way.
6:15
Okay, not in this pricing scheme. I mean, the true value of
6:18
gold, if we're just going to exchange actual above ground ounces with clear title
6:24
for dollars, that true value is multiples higher than two thousand. But as
6:29
long as we have this pricing scheme where price is determined off the trading of
6:32
the derivatives, then price is going to do what it's always done, which
6:36
is move up in stages, not to the moon. And I just want
6:41
to really caution people against buying into that hype exactly. And you know,
6:46
we don't want suicideal gold miners because they have access to cyanide, so we
6:51
can have a lot of dead miners really quick. You know, I always
6:56
keep it right in my pocket. But seriously here, you know, well,
7:03
and a lot of people and you could say that, you know,
7:06
a case for a low is in you know, and like neumont is just
7:12
this. I caught a lot of flak on Twitter because I was like,
7:15
I'm never going to own that. I sold my I had a whopping three
7:18
hundred shares of Newmont in my portfolio when I blew it out and bought something
7:23
else. But I blew it out because Newmont and Barrick Terry are both lower
7:28
today than they weren't oney years ago. How can that be? And it's
7:32
not, And it's not like there have been five splits on a split adjusted
7:36
basis, they're lower than they were. I mean they gold was four hundred
7:41
dollars and they're earning less money and they have a lower share price now than
7:45
they did then because it's terrible management. You're not controlling your costs well enough,
7:49
you're not controlling your bloated corporate structure well enough, right, and so
7:56
you're not making any money, and so the companies all go anywhere. So
8:00
it doesn't mean you don't own the mining shares like you just don't own pig
8:03
dog shit stocks like Newmont. You own others, which is what I've done.
8:09
But you look at her, that was a low and maybe it was,
8:11
and the stocks haven't broken out yet. Well, Newman is restructuring their
8:16
divesting. They want to raise two billion dollars. You know, yea,
8:20
they bought the gold Corp. They did a lot of them, you know,
8:26
a lot of buying and the you know, well Nukefrest went. Now
8:31
what they bought, I mean, they're the biggest miner in the world now,
8:35
Yeah, And Barrack bought Wooden. Barrack bought Angle Gold as Chante or
8:41
whatever and not Angle gold. Ashante ran gold. They boy ran. But
8:46
anyway, it doesn't matter. You're right that the shares themselves are way undervalued.
8:52
And maybe you know, as price accumulates, and as price does go
8:58
to twenty three hundred, the profit mark will widen out enough that even Barrick
9:03
and Numont will participate. But for now, I mean, why would you
9:07
anybody own I just picking one out of my portfolio. Why would you own
9:11
Numont or Barrick when you could own like egg Nigo Eagle, which has an
9:16
all in sustaining cause of like under one thousand dollars so they're making twelve hundred
9:20
dollars an ounce or whatever here. Yeah, yeah, and there's still time
9:24
to be in that sector. But there are just some that I just don't
9:30
want to own. Yeah. Well, you know, you know what these
9:33
big companies do, though, they take these humongous write offs when the stock
9:39
is depressed, everything but the kitchen sink. And then when the profits really
9:43
do turn around, it looks like their geniuses. But all they did was
9:48
write off everything but the kitchen sink could prepare for that day. So it's
9:52
just another form of financial engineering. And so they're trying to raise two billion
9:58
a. You can't knock them because they still produce a lot of ounces,
10:03
but it seems like they're more expert at turning over dollars, you know.
10:07
Yeah, yeah, And again, like any other company, man, you
10:11
got to be mean and lean. You can't have all these divisions and executive
10:16
vice presidents of such and such. You know, you got to be more
10:20
responsible in your management style. And I and again I'm I don't know any
10:24
of these people, but if it was any other company, I mean,
10:28
how many other companies are in public companies in general, right, that have
10:33
been around for twenty years now. I'm not talking like tech and AI or
10:37
anything like that. I'm just go back and look at it. I mean,
10:39
you just go down the list that their stock is down. I mean,
10:41
it goes up and down. But you know, you can pull up
10:45
a chart from two thousand and four and five and see Barrick and Newmont in
10:48
the forties. So I just it augurs for you know, what you do
10:54
and the people that you interview, you know, and the research that you
10:58
do, and the people that write news. Let that really pour their time
11:01
and attention into finding the right ones to own, because I'm right, and
11:05
gold going to twenty three hundred and then maybe pulling back, and then boy,
11:09
when they open the floodgates next year, look out. You can you
11:13
know, you can leverage your FIAT and you know, make multiples of what
11:16
the metal itself is doing. But you've got to be smart about it.
11:20
And to me, smart is not owning just the big miners. Hey,
11:24
you want to be suicidal. Look at the short for the GDXJ and that's
11:30
after they manipulated the index and put in bigger companies and everything else. Man,
11:35
it is like it is like the worst looking chart or the SILJ Carrie
11:41
that oh yeah, your silver. So there's still again, there's still plenty
11:46
of time. If you think, you know, to the moon after the
11:50
last four days, there's plenty of time to position yourself to capitalize on that.
11:56
I just again, I'm just amazed the human emotions, particularly within our
12:03
sector that can go from oh, we're doomed to oh if we don't go
12:07
to three thousand. If you're not forecasting three thousand dollars an ounce this summer,
12:11
you're an idiot. Hey, you know that'll the saga Mark Twain said
12:18
to rumors of my death have been greatly exaggerated, right, right, right?
12:24
So so what's the best way to play it besides physical? Uh?
12:30
You know, I don't see how you can make money and options with this?
12:33
Oh no, yeah, unless, yeah, how is I'm just trying
12:39
to think metaphorically. It's like you can't make money playing blackjack long term either,
12:45
right, might occasionally get a hot shoe or two, right, and
12:50
when you do, you know, you start pressing your bet, you know,
12:52
and you get the tower of power of green ships out there like this,
12:56
you know, and you make a boat load because you just caught light
13:00
in a bottle. And back in twenty ten to eleven, I did that
13:03
trading silver options and made into the six figures just on a couple of handful
13:07
of silver options at a time, because price went from eighteen to twenty eight
13:11
to thirty eight to forty eight. Yeah, but if I'd been sitting there
13:16
playing calls NonStop ever since. Yeah, you wouldn't do too good, right,
13:22
And that was you know, actually carry that was something I discussed in
13:24
my podcast. I do a daily podcast for everybody on my site, and
13:28
that was something I point out yesterday. Now, granted, price has moved
13:31
very quickly to the upside over the last three or four days, and when
13:35
that happens, or when it goes down really quickly, you get into new
13:39
territory where price hasn't been for a while, and the volume of open interest
13:45
in comex options will explode in whatever direction price is going. So like a
13:48
price is just plunging and you get down to where you know, previously there
13:52
was nobody buying or selling the puts at fifteen hundred or something, and all
13:56
of a sudden you're at fifteen hundred. Well, you're gonna get a lot
13:58
of people buying put same is true on the other side, you know,
14:01
when price is soaring like this, there's not a lot of people buying puts.
14:05
Everybody's like, oh, give me the twenty two hundred dollars calls and
14:07
the twenty three hundred dollars calls. There was as of yesterday, there are
14:15
options on the April gold contract they're going to expire three weeks from yesterday.
14:20
The twenty two hundred dollars calls were trading at seven bucks, which means for
14:26
anybody that bought that, the price of the April contract got to be above
14:30
twenty two oh seven if you're going to do that math that way on Monday,
14:35
March the twenty fifth, Okay, otherwise it's worthless. There were seven
14:41
thousand, two hundred of those calls. That's insane. Yesterday you know how
14:46
many puts there were one hundred and fifty. What does that tell you?
14:50
So? Well, what did our last commitment of traders report to tell us?
14:56
By the way, well, again, these are all just these data
14:58
points can use to kind of discern the short term trend that one tells you.
15:03
Okay, maybe all hell breaks loose and gold does go to twenty two
15:07
fifty or twenty three hundred by three weeks from now, but probably not okay,
15:13
because of that, that's a short term little market thing that's got to
15:16
work itself out. The commitment traders is another. Again, if the CFTC
15:22
wanted us to have this information in a timely manner, they would provide it
15:26
in a timely manner, and on the surveys are done every Tuesday at the
15:33
comex close. They could crank all that all the stuff out by Wednesday morning
15:37
at the open. That's like the unemployment numbers, the employment numbers. They
15:41
could be giving us that real time, right, But no, not that
15:46
they do a survey, not how they roll. So if last week,
15:50
if we'd gotten the commitment of Trader's number on a Wednesday morning, we would
15:56
have seen that once again, the hedge funds that trade Comac silver had moved
16:00
dramatically net short, leaving the banks net long, and you'd go on Wednesday
16:07
morning, go hey, this might be a good time to buy some Yeah,
16:11
and that's exactly what happened. Price skyrocket and Wednesday Thursday, Friday Monday.
16:15
But again, because they didn't give us that report until after Friday's close,
16:19
the information was already stale and a lot of that net short by the
16:22
hedge funds has already been covered. That's why price has gone up, right
16:26
right, right? Yeah, Well, the games continue. So as far
16:33
as what the government has to do, so we're going to get we're going
16:37
to get like, well, the banks, let's look at the banks.
16:41
So the emergency lending facility. I haven't looked at it, honestly in three
16:45
weeks, but it just went up, up, up, every single I
16:49
assume it has for the past month. Yeah, what I don't know.
16:55
You're talking about that bank term funding facility, the open last March, he
17:00
said, FED came out a couple of weeks ago and said we're going to
17:03
discontinue that on they said, they said it will be around for a year.
17:06
They said they're going to discontinue. What I don't know is when we
17:08
get to about a week from today, whether it goes away or if they're
17:11
just going to stop taking new money or it gets replaced by something else.
17:17
Yeah, yeah, that's my guts ends they can obviously stop. Well yeah,
17:23
and and so they're gonna and it wouldn't be interesting to see, Okay,
17:26
So, uh is that problem fixed? Has it been papered over?
17:30
You know that ETF of the regional banks that KRI would suggest, no problem.
17:36
Yeah, I'm watching more that reverse overnight reverse repo balance. Uh.
17:42
Goon Bostic said yesterday that they're watching it too. That if that what are
17:51
you what was the word you use? If it trends toward a flow that
17:55
is unhelpful or something like that. Didn't say it has to go to zero.
18:00
He just said if that flows down to an unhelpful number, that's going
18:03
to impact how much of their quantitative tightening they can do. Well, that
18:07
thing's gone from two and a half trillion down to four hundred and thirty billion,
18:11
and I don't know, I don't think it has to go to zero
18:14
to no longer be helpful in terms of providing liquidity. So that's hanging out
18:17
there too. Yeah, well, it's amazing they've kept all these dishes in
18:21
the air for as long as they had, but until they stop, you
18:25
know, this is what we're dealing with. Yeah, right right, and
18:29
it gets worse obviously, right, just like the expanding debt. So carrie
18:33
it, you know, I would let's watch where gold goes this week.
18:37
The last time goal caught a surgeable menum was at the end of November and
18:41
price closed above two thousand dollars an ounce for the first time ever. To
18:45
wrap up. November surged again then on Friday, the first of December,
18:51
and at that point every bank short ever created was underwater. I mean,
18:55
if you're in an all time hye, every short position is now a loser,
19:00
and the banks deliberately painted the charts on Sunday night, the third they
19:03
stood down. They let price run up fifty dollars and then immediately reversed it
19:08
down fifty dollars and created this ugly reversal candle of the chart. Freaked everybody
19:12
out, killed the momentum. And now for a good month they've tried to
19:18
rally in late December. And now you know we've been correcting with rate cut
19:21
expectations and everything else here this year, well right back up there again.
19:26
Price got right back up those same levels and making new all time highs this
19:29
week. I would just be mindful of what happened in December, not on
19:33
an intra day reversal like they did to us that Sunday night, the third
19:37
of December, but a weekly basis this week, because we got Powell's going
19:42
to be on Capitol Hill Wednesday and Thursday doing his semi annual Humphrey Hawk and
19:47
stuff. We got the Jolts job openings day tomorrow, and most important,
19:51
we got the latest jobs numbers coming out on Friday. By the time we
19:53
get to the end of this week, if we can just go sideways carry
19:56
and finish the week up here twenty one to thirty or something, be a
20:00
tremendously successful week. My concern is that they'll flip it and instead of painting
20:04
the daily chart, they'll paint the weekly chart with a double top, you
20:08
know, and a red candle, just kill the momentum again for a while.
20:12
So I would just, you know, a long story short, I
20:15
wouldn't be I'm very optimistic obviously about where gold prices are headed this year and
20:19
next. I would be reluctant to chase on emotion today. Okay, I'll
20:26
buy that eight. So what do you make of silver? Like silver is
20:30
barely moved with this for this big move in gold, that's generally not a
20:36
good sign, right well, this is kind of a sign of a laize,
20:41
you know. And I think even kind of there are other things that
20:45
have kind of siphoned off investment interest in owning silver for fund because again it's
20:52
the price of silver is going to go up. People got to be buying
20:55
the silver futures, right and the banks are just printing money, the bank
21:00
proprietary descer just printing money by letting price go up, sucking the spec funds
21:03
in on the long side and then jamming it back down they dumped, they
21:07
get short, and then ripping it back up on the upside. Yep,
21:12
so it's kind of stuck. I when I wrote my forecast this year,
21:18
I had a lot of people unhappy with me because I said, look,
21:22
silver start in the year at whatever it began. I had twenty three.
21:26
I don't even shit I carry, I don't even remember. Tell me two
21:30
months ago, and I clowed them up. But anyway, you look at
21:33
the long term chart, you can plainly see it needs a breakout of of
21:37
twenty eight to get people excited. But it's gonna make twenty eight until it
21:42
gets above twenty six. And these are significant hurdles, and so gold can
21:49
keep moving higher and silver can just kind of, you know, be struggling
21:52
to catch up at some point, though it will if anything, because of
21:56
the math, if gold goes a twenty three hundred, and I don't think
22:00
the gold silver ratio is going to be one hundred with silver at twenty three,
22:06
you know, if gold goes to twenty five hundred, you know next
22:10
year silver is not going to be trading at twenty five. So if gold
22:11
goes up eventually it will just magnetism almost for silver up through twenty six and
22:18
twenty eight, and then when that happens, it might be able to take
22:21
on a life of its own. Yeah, but we we're certainly not there
22:23
yet. Yeah, all right, I'll buy it. I'll buy it.
22:27
And hey bitcoin finally, I know we're not big bitcoin traders, but you
22:32
got to be following it. It's in all time high. You know,
22:36
it's coming coming off from you know, had a fifty percent retracement from its
22:41
all time high down to the thirties and then now back was it sixty eight?
22:48
Now it's pulling back a little bit after making its high, which is
22:51
kind of the way one expects. Right, Yeah, and if you know,
22:55
you open these ETPs, if they're to be real, you know,
22:57
not just simply only the futures, but if they're to be real, then
23:02
they have to you know, cash flows into them, and then they got
23:04
to go buy bitcoin. Right. You can't just say, ah, you
23:07
know, we're just gonna take our chances. So that's what's been happening.
23:11
There's been this surge of demand for bitcoin. We're on a daily basis,
23:15
there's not that much supply, and so if you've got more demand than supply,
23:18
it goes up. That's why, you know, I wish I've known
23:21
Max Kaiser and his wife Stacy for I don't know a decade. And I
23:26
mean they were harping on bitcoin, you know, in twenty even at twelve
23:29
and thirteen, and I you know, if i'd well one, if i'd
23:32
been smart enough to buy it at ten, I'm sure i'd have blown it
23:33
all out at one hundred, right, Oh my god, I mean it
23:37
times my money, right, So it's not like i'd be a billionaire.
23:41
Same here, but I was smart enough in two thousand and sixteen to buy
23:48
some at about six hundred dollars. Not much enough that I don't really yeah,
23:52
yeah, and it's just enough that it's just I just hold on,
23:56
hold on for dear life. I don't, you know, I don't really
23:56
pay that. I don't watch it every day. I'm not looking to sell
24:00
it. But anyway, so I mean, I'm I'm a believer of the
24:03
mat and that's why I finally bought it in sixteen because I was like,
24:06
I finally understood it. I was like, okay, wait a second,
24:08
if awareness is going to be increasing annually, meaning demand for it then maybe
24:15
is increasing and a time where supply is always decreasing, you know with these
24:18
havings. Yeah, which we're coming up on one short one. Yeah,
24:22
how does that dog not hunt? Yeah? I mean anything that's just you
24:26
know, that's your demand curve and your supply curve that they teach an econ
24:30
one to one, right, I would think, yeah, welles decreasing.
24:33
Well, demand's increasing leads to a higher price, a higher equilibrium price.
24:37
And so that's why I bought it. And now you know, I mean
24:38
it's up one hundred you know, one hundred times from where I bought it.
24:44
Anyway, that should continue to work. Now the financialization of it,
24:48
you know, where the banks are getting involved in black rock and stuff like
24:52
that, that makes me nervous because you know, usually anything they touch,
24:56
they're only doing it so they can get their talents into it. And yeah,
25:00
of course that concerns me. But I do think the long term chart,
25:03
and I mean I'm and of that. Anybody do this. Go to
25:06
a site like a bar chart dot com and pull up a monthly make it
25:11
logarithmic, because otherwise it'll be all out of whack, you know, to
25:14
go from ten dollars to sixty thousand. You gotta do alarm chart. But
25:17
you can see it goes through these kind of cup periods of two or three
25:22
or four years, and then it breaks absolutely and then it does another cup,
25:26
and then it breaks out and then and then I'd just done it repeatedly.
25:30
And so the cup level, the top of the cup now is those
25:33
all time highs around you know, sixty eight, sixty nine thousand, and
25:37
so I don't carry Why wouldn't it break out and surge again? I had
25:41
the laws of supplying demand, I don't think have been waved off. So
25:48
I just continue to hold it. I mean, and why can't you hold
25:52
both? That's what it was that just drives me. Why can't you and
25:55
bowl? I do? Yeah, I do. One thing I'd just point
25:59
out is these ETFs technically are ETPs, and ETPs are tracking securities. Now
26:06
supposedly Fidelity swears up and down that they're going to be holding physical well,
26:12
yeah, for lack of a better term, I want to say physical bitcoin.
26:17
But that's a bit of about moron. But you know what I'm saying,
26:21
Like I know what you're saying, and they have to now, I
26:23
mean, maybe they can just buy the futures and think, okay, we
26:26
got our exposure to price and so we're hedged and covered. But I man,
26:33
that would be a pretty shaky business model, I think. So I
26:37
got to figure that that. And again that's just an increasing awareness as that
26:42
becomes normalized these products. Over the next couple of years, all of a
26:47
sudden, you know, Fidelity will put a Bitcoin ETF in their investment options
26:52
and all the four one K plans for which they're you know, custodian,
26:56
And so I don't get I don't know, see why doesn't keep going up?
27:02
Yeah? Yeah, well as long as and you know, as long
27:06
as the demands there, people keep more and more people keep discovering it,
27:11
right right, yeah, and a loss of faith and in traditional investments,
27:18
you imagine if there's a stock market decline, what will happen? I mean,
27:22
yeah, you know, yeah, so stock market, let's just end
27:26
it with that. We've had these magical AI stocks, artificially inseminated shares,
27:34
and you know, it's all the rage. You know, Wall Street loves
27:38
a good story, they love a good meme, just like the rest of
27:42
us. Where does this end? I Kuri, I looked just an example,
27:48
I looked at that SMCI, that super micro computer they make RAC based
27:52
zebers for artificial intelligence, and that thing has gone from three three share to
27:59
nine undred dollars a share in like four weeks. In January, I was
28:03
like, oh, this is going to be a chance to buy some puts.
28:06
Well, then on options expiration day in February it went, which was
28:10
a third Friday of the month, which is like the sixteenth, it went
28:14
from one thousand to seven hundred a day, and I thought, well,
28:17
I missed that. Well maybe you'll come up and double top and I'll be
28:18
a chance to buy some puts then, And it did, It went back
28:21
up to a thousand. But I was like, eh, I just kind
28:23
of have an odd didn't one? And then all of a sudden it gets
28:26
included in the s and P five hundred. Uh, it's all over the
28:29
weekend, and now it's you know, up another twenty percent. I think
28:33
it's you know, what's the old Changian line about the market being irrational.
28:37
Longer than you all, you can remain solvent, right, perfect example,
28:41
isn't it? Yeah? And I and I would and I have been discussing
28:47
more and more frequently over the last year when it comes up the idea and
28:52
reminding everybody that old whatever it is, Austrian economics or whatever, of the
28:56
crackup boom. Yeah, you know that you get to this point. It's
29:02
like here, it is on my desk, brother, I keep this right
29:06
there. Yeah, is replete with examples where you get to this point where
29:11
the money printing becomes so extreme, keeping those plate spinning. As you said
29:15
that basically everything goes up. It has to Germany. Yeah, you know,
29:21
every You know, I I've tried to out smart myself a couple of
29:26
times, even last year, thinking okay, the stock market is really rolling
29:30
over this time, and all I did was bounce back. And so maybe
29:33
we're in that crackup boom phase, you know where all the just get bought.
29:38
But until I'll give you one last thing carry And I might have said
29:41
this before. You know, remember the old fear and greed index in the
29:45
stock market, you know, and oscillates back and forth. The only fear
29:49
I see in the stock market is fear missing out. Yeah till yeah,
29:55
till that changes. All right, Well we'll leave it at there. So
30:00
Fomo rules will be the line of this interview. And now a little of
30:06
that's spreading to metals, which isn't a bad thing. Maybe it'll spread to
30:10
silver and the miners and then we'll see a real rally here. But until
30:15
certain things happen, until silver starts to move, you got to wonder how
30:19
long this rally is gonna last. But hey, I'm optimistic. Hey,
30:25
make sure you go over to craigsite TF metalsreport dot com and hey, sign
30:30
up for the forum there. It's I think it's inflation has hit even TF
30:37
metals. I think it's now the cost of a latte. It used to
30:41
be the cost of the cup of coffee. I went to Dutch. You've
30:45
ever been to a Dutch Brothers, No, we don't have them here.
30:48
I want to go check it out. And I got a small little espresso
30:52
thing and it was six briggin bucks. Hey, okay, well this better
30:56
be good episode For two and a half of those you can joined my side
31:00
from month. Hey, I'm in the process of setting up a site and
31:03
a newsletter called the Inflation Cafe where money goes to Die, where dollars go
31:11
to die. So if you want to sign up for that, shoot me
31:15
an email kl at Carrie Lifts dot com. Along with any questions you might
31:18
have for Craig. We will get you on the list and the link to
31:23
craig site is in the show notes to this interview on Financial Survival Network dot
31:29
com. Sign up for that newsletter, you'll automatically be signed up for the
31:32
Inflation Cafe. Craig always a pleasure, Matt. We'll check in with you
31:36
in about the six weeks or so and see what the circus is doing.
31:40
Then you got it, my friends, always fun. Thanks for listening to
31:44
Carrie Letz's Financial Survival Network, your solution to today's trying times. For the
31:49
latest, go to Financial Survivalnetwork dot com. Financial Survival Network now more than
31:56
ever, CRUs