happy holidays to everybody i've got jeff clark on the line with me the chief precious metals analyst at goldsilver.com jeff how are you doing great mike and happy holidays to you two and to all our viewers it's been uh quite an interesting year huh totally bizarre just the the freakiest year ever uh but i feel like uh i've spent the last uh 10 years sort of getting prepared for this and uh um i actually more than that uh the last 15 to 20 years uh getting prepared for this and so um


i feel like i'm in a better position and that gives me a little bit of comfort i hope a lot of our viewers out there feel the same way uh with the decisions that they've made over the past uh few years so yeah yes uh i'm sure many people have so yeah well mike for me as far as questions yeah let me throw one news item out at you and then we'll kind of get into some holiday themed things but uh the big news right now this week was the new stimulus bill was passed um and there's an article that we'll


throw up on the site about this but i want to bring your attention mike to one particular thing that i thought was very interesting and that is uh even though this bill is passed before the ink is even dry joe biden is already saying he's going to ask for more he wants funds now for state and local governments included and the quote is many economists and experts warned that without money for states and cities the the recovery will be longer and slower as places are forced to cut uh jobs and services like this this


is a rubicon moment where we're crossing into something that's uh completely unchartered where we're actually gonna print currency and give it to states and cities as well now we don't know if that's gonna happen um but that's what he wants if he gets in office so uh mike what do you what do you make of this am i bringing too much attention to this or is this like a rubicon moment where we're actually going to completely destroy our currency well i think uh it is that rubicon


moment there's uh you know they made one big mistake the reporters they said that the uh uh states and uh you know local governments need money to get through this and it's currency you couldn't do this with money you can't right money has to be a store of value you can't create the uh unlimited quantities of it uh with you know it's it's just not possible uh to create unlimited quantities of money without destroying its value uh the difference you know this was a viewer that put this


in the comments of one of the youtube uh things i believe um videos uh he said the difference between one and one trillion is twelve zeros and now that we can just we don't print currency we type it into existence so it's 12 key strokes i mean one two three four five six seven eight nine ten eleven twelve that is how long it takes to create a trillion dollars uh add one more digit you know i had three more digits and you got quadrillions and and then uh quintillions and sextillions and uh yes we're going down this road we


have crossed this rubicon because we have not yet reached a point where something breaks where something snaps and we will in my opinion i just don't think that they're going to be able to paper this one over they're going to try and they're going to dilute the currency and dilute the currency and dilute the currency but there will come a point where something in the economy snaps um and i am worried about this uh um you know we're coming up on a new year and one of the resolutions that i have is to


become more resilient and to try to become anti-fragile and i'm you know my greatest wish for all of our viewers is is that they um consider doing i never give advice but i i think they should consider doing the same you want to try to make it so that you can really survive on your own the uh threats out there you know it's it's uncomfortable to even think about these things i was just watching a preview of a new documentary that's coming up called black start and it's about the


vulnerability of the u.s power grid and and how the entire thing could go down and if it goes down uh a black start where they start it up when there's is no power is practically impossible it'll take years which bombs us back into the dark ages uh this is and then on top of that recently uh there was um uh hacking of two very important uh uh cyber security companies uh one being fireeye that has you know teams of white hat hackers white hat hackers are people that you hire purposely to


try to hack your website hack your company get into the financials get into all of the emails stuff like that find vulnerabilities and back doors you're paying them to discover this before the blat hack hackers the black hat hat hackers uh the bad guys steal identities uh shut off things abscond with all of your company funds or personal funds and uh fireeye was hacked and because they have this group of top-notch hackers developing all of these tools to hack all of the companies that hire them


to test the security of their websites all of these tools they believe have been downloaded and copied and at about the same time a huge company called solar wind i believe it is is um i may be mistaken on that one but they are a company that protects more than 400 of the 500 s p 500 companies this is a software that you download and you run and it protects your uh systems from all these different vulnerabilities and hacking and so on and it's not just the s p 500 companies it's the defense department it's the


energy department it's the white house it's the pentagon it's the nsa it's the cia it's everybody and uh the their the hack that was done was they planted a they they hacked the system planted a back door in it so that information could be seen and downloaded emails uh without anybody knowing and this was done way back in like march or something and so since march all of these sites the information has been open for somebody else to see and the level of this hack was so high that it looks like only a


government that the technology behind this it looks like only a government could uh fund something like this so this was a very very sophisticated thing and um between all of these different vulnerabilities this is one of the reasons that i own kryptos but i also own gold and silver and i've got some gold and silver at home uh very little compared to what i've got in storage that's instantly uh you know it's very liquid and it's very very secure but um if the internet goes down


and your phone wallet isn't working uh you know recently uh something happened at google and for about an hour there were entire sections of the world where google wasn't working no google products so uh all the uh meetings that were you know uh google meetings the email anything that was hosted by their servers youtube it was all down uh there was billions of dollars of commerce that uh was affected and there was uh schools that shut down there was uh you know and it it sort of got buried in the news cycle it


this is a really big big thing and uh uh there's a great um uh series out there degogo is the guy that produces it and i'm trying to think of the uh name of the video series we'll post a link below this video but his last video was about the google outage uh these things are all coming at us very quickly and when you consider the fact that where we are today in the world with the monetary system we're making ourselves more and more and more fragile to some big huge event that can take everything down


and we keep on building this thing bigger and bigger and bigger and make it more and more complex every single day we add layers to the way society is constructed the way we all communicate with each other the way business is done the way the financial system operates everything gets these added layers nobody is checking the foundation to see if it is still intact we just keep on building this thing taller and higher and heavier and more more top heavy and make it more and more complex and fragile


and uh it so my wish for everybody this holiday season i've made a new year's resolution to become more resilient uh you may want to check out our friends over at peakprosperity.com chris martinson and adam taggart this they've wrapped their life around becoming more resilient by tuesday uh you know i bought a little ranch uh i've got it was there was no habitable structures because of the hurricane but by tuesday there are going to be two little tiny homes i mean the place i'm


gonna move into is only like 400 square feet but it's temporary until i uh build my house where i want to build it but it has solar panels and a tesla powerwall battery backup so we are completely off the grid uh we've got seeds i've got emergency food we've got our own water water supply there's a river going i mean my little house is about 30 feet from a beautiful river that just has some of the most pure water in the world in it because it's up near the very top of puerto rico


um and uh so i'm personally trying to become much more resilient but this thing with expanding the currency supply and you know it can't work what they're doing all it can do is cause more imbalances to build up and stresses in the system they want to you know uh biden announces he just wants to place an order for more currency i want to place an order for more currency let's double the currency supply let's quadruple it when something breaks they're going to be typing not


12 zeros but 15 18 21 zeros i mean the look for the currency supply eventually we will go into hyperinflation even though because there's uh you know there's the standard measures of inflation the consumer price index but they're only measuring a few things they're measuring stuff you buy at the grocery store and a few other things they eliminate food no they eliminate food and energy out of the core cpi the things we need to survive they only include the things we don't need


um but um i have a when i wrote my book so that i came up with this and i never published it i should have it was cut from the book but there was a piece where i started going through it's comical when you go to the bureau of labor statistics and other places in the government all the different measurements of inflation because they've got a couple dozen and uh then there's the the uh when you go to social security the way they calculate the uh increase in social security each year they


take the cola and they deduct it from the pia and then they use the cpi u6 or whatever and i don't know what it is it's just crazy insane so i came up with my own measurement of inflation that covers uh everything and it's based on this premise every dollar created has to go somewhere and so i came up with cup inflation c-u-p-p currency units per person uh so you take the quantity of currency all the dollars that they create divided by the number of people that exist and that is the true measure of


inflation because if it's not inflating things at the grocery store or the gas station it's inflating real estate or the stock market or if it's not inflating any of those things it's inflating savings every dollar has to go somewhere and there is such a thing as savings inflation and you can see it right now on all of the monetary statistics mzm went north now it's going south because people that have money market funds are starting to get worried that they may need instant access to their


currency so thanks to a uh youtuber named uh you know he showed that uh that what is happening isn't that you know the fed's balance sheet hasn't been increasing with the quantity of uh m1 that has increased what's happening there is currency is flowing from mzm to m1 it's flowing from certain currency aggregates where uh it takes time to get your currency if the bank or the federal reserve wants to impose this time restriction right now they don't so it's called money of zero maturity it's currency of


zero maturity which means it's instantly available but some of those aggregates that are in there some of the money market funds and such uh they can it during a bank run or something like that they can impose restrictions and uh and delays on getting your funds and so uh you can see big well-informed people financial entities that are now uh moving their currency from uh monetary aggregates that may become encumbered to ones that they think are instantly available just regular deposits at the bank and that's the


reason that uh that m1 has exploded recently not because the fed created those dollars but because big well-informed entities are getting ready for something so uh between all of this i just want to suggest to everybody that they may want to consider becoming more resilient to everything because we could end up in a position where we're truly on our own and you want to make sure can you survive on your own what happens if the grid goes out what happens if the internet goes down what happens


if there's a solar flare and we have you know a magnetic storm and the grid goes down because of something that isn't a hacker or it's just a a natural thing there was one in the 1880s that if that was to ha that took down the uh the telegraph system if that was to happen today it would blow all the transformers in uh in the you know whatever hemisphere that it's that is pointing toward the sun at the time and so if that happened to the united states all the transformers would go and


it would take years to uh rebuild the system if you had the energy to create the transformers and move the transformers and without the energy you got some problems so for everybody i would say you know these are tail risks but we're getting to the point we've made this thing so fragile i'm preparing for potential tail risks i'm going to be ordering bags of like silver dimes for myself just as an emergency currency and in the rural area that i will be living soon i should be able to organize


local farmers and stuff to trade amongst themselves and we do have our own water source and uh so um become more resilient that's so this thing with uh the government requesting more currency and i say the government because it doesn't matter which party is in power when things get bad they're going to create a bunch of currency and it doesn't matter what party it is there's going to be a bunch of currency created and something one of these days with everything that's happening


and their response to the uh the global health problem that's out there right now was the wrong one they shouldn't you know it when you look at the um yes it is many times more contagious it's like three point something times more contagious um it's a 1.4 is the r naught of uh the regular flu and this new global health problem is uh 2.5 uh meaning for each person that catches it they get 2.5 people more people sick so that's the contagion but you have to eliminate yourself out


of that equation so you're taking um 1.5 and dividing it by 0.4 i think you end up with something like 3.75 times more contagious and then it is more deadly uh for people that are over 70 but not for people unders when it's it's something that we should not have closed down the global economy for uh what we've done is introduced just for the profit of some big drug companies we've introduced something that will cause something to break sometime soon and when it breaks it's not it's


not gonna be with warning it's gonna snap suddenly and the whole system will be shut down uh so get ready for it you know i am so anyway that's it you can count on them creating more currency lots more currency yeah wow higher prices for gold and silver yeah that was a great rant mike sorry it went so long there so thank you um uh i just want to point out that you know there is good news in all this there's always opportunity in crisis right and we can all take positive steps to prepare for these


things and you're no worse off if they don't happen so we can all get out of the fiat currency system to a certain degree we can all you know become more resilient start a garden something for all of us to think about again the good news focus on the things that you can do that you can control so that's yeah i mean i wish everybody a happy prosperous uh new year coming up but um you know i heard uh there were there was an old bewitched episode back in the 60s or maybe that was the early 70s i don't


remember but ben franklin was in it and he was saying you know that he's not an optimist or a pessimist he always pref hopes for the best but prepares for the worst right that's a good that's a good theme exactly right well mike let me throw one more uh question out at you before we end this video and and that's this i know you don't like to to make predictions and we've talked about some different things you think might be coming but mike is there anything that you're


fairly confident is going to happen next year in 2021 maybe not a prediction but something that wouldn't surprise you uh to see happening in whether it's society or with our our currency or or money um with the market i don't know if things will snap you know if this thing that i'm talking about where the financial system uh the electrical grid uh the internet where something just completely snaps all of the sudden uh i don't know if that will happen in 2021 or not i do believe that it is out there and


it'll probably happen within the next three years however i can almost guarantee you that they're going to keep on expanding the currency supply this is going to happen so the original question ties right into this question the prediction is that the currency supply is going to be a lot larger by the end of 2021 than it is at the end here of 2020. it's going to be a lot larger will it be multiples most likely yes and gee i wonder what asset we should own to protect against an ever expanding grossly diluted


currency right mike as long as we have electricity and uh and the internet in a stable robust condition uh i do believe that cryptos will do well and that's simply because uh the crowd that's under 40 especially the ones under 30 they see virtual assets as real as physical assets and you know i don't i still like something that has weight and volume to it that i can hold in my hand uh but precious metals have been money for the last uh 2500 years they've been the pro predominant currency for 5 000 years


they have never gone to zero they vary in a range of purchasing power and right now their purchasing power is very low compared to all the stuff that we have on this planet simply because we've created so many other places to store our wealth bonds stocks currency cryptocurrencies there's competing you know it used to be the gold and silver by relatively the same amount that they used to uh you know back in ancient roman times a little more a little less right now it's less however the amount of stuff there is per


person is a thousand times more and uh and if you've got the same amount of gold per person roughly then gold should be purchasing a thousand times more stuff or at least a few hundred times more stuff uh why had why doesn't it because uh value purchasing power is being stored in all of these competing uh financial assets liquid financial assets and uh uh there if we have any of these technical issues breakdown of the monetary system uh a disruption of the internet or power then all of those


uh financial assets the hocus pocus financial assets go poof and all of the uh wealth is transferred to the holders of the precious metals at that ratio you know might be 201 might be a thousand to one i have no idea i believe it is it is episode two or it's episode three i think of yeah episode three of the top ten reasons i buy gold and silver so watch it it's a countdown it starts at number 10 goes all the way down to uh number one and i did make just to let everybody know it's one thing i


i forgot when i did that countdown i think number two or three i mean i'm sorry number uh seven or eight or nine is that gold and silver come with the central bank guaranteed yes and i forgot to say that the guarantee is that they're never going to stop printing currency they will always print more currency and so until the system breaks right yeah we'll link to that video series it's a great series they're two or three minutes each as all each one is it's a great countdown


and yes that it's a few years old now but that's exactly what you said that it comes with a central bank guarantee gold and silver so yeah that's great so well mike um as we wrap this up i'm gonna i'm gonna grant you a wish for 2021 okay so i'm going to give you one wish and you can say whatever you want but this this question is if there's something you could change in society or the markets or with our currency whatever it is that would come true what would it be what would your one wish be that you


would hope uh would happen wow um that's a biggie uh and you know you can you can have a wish that's uh impractical and it's not going to come true um you can also have a wish that that does have that possibility of coming true where it's within the uh realm of of possibilities uh and there's a brilliant man out there dan larimer he has developed the most useful cryptocurrencies on the planet his whole life is built around consensus people agreeing to say that what is is uh that you know even if you


disagree you can say okay we all agree that 49 disagree and 51 agree you can set that in stone his whole life has been built around uh consensus fair consensus and he wrote an article uh a few months back uh outlining a new way to organize society basically right now uh the governmental approval is less than 30 percent more than more than seven out of 10 10 people think the government is doing a bad job uh congressional approval and so on his he came up with a system where we can reverse that and we can get much better government


much better uh protection for all of us and uh you know less self-serving politicians uh less uh cronyism and skimming off the top and and uh all of that and uh so i wish that uh that we could uh have a fairer more moral society and uh and i do believe that this is possible so um when uh dan larimer is going to be coming out with a book and when he does uh everybody should buy it in the meantime uh do a search for his articles maybe we'll be able to post a link below the video here and and you can see how this election


process eliminates all corruption it eliminates uh you know right now what we do is we get the best politicians the politicians that are at the bet the best at telling us what we want to hear uh and we have all of these special interest groups funding everything and plowing tons of funds and then the media skewing things and picking our candidates for us and a two-party system that just isn't working and uh this is a system that will work and it will get us the most qualified people to run things because we do need a


system where we delegate the responsibility of voting for every law and and so on we nobody has the time uh to do all of their work that we all do and still know everything about every law that is going to be passed everything that you know the way society is going to be organized so a representative government is uh pretty much necessary in order to have a government but how do you have a fair government where uh it doesn't get corrupted dan larimer has come up with these brilliant answers to the


the root the the problem that is the root cause of most of the really large problems in society and so i would urge people when he comes out with his book uh buy it uh and then take a look at the uh his articles on uh how to organize elections so and become a part of it when i read his article i tweeted him right away and i said uh uh i said uh sign me up i'm in right you're uh kind of writing the forward to that book i think with your comments there mike so yeah i'm just not very good well actually he asked me


to write the forward so i am i'm just about done with it yeah oh good that's great great well that's very good input my wish is very simple and that is that i i wish uh more and more people would own physical gold and silver because like you said for years mike and and i've worked with mike side by side here for years since i've come over to gold silver and i can tell you firsthand that uh he's very genuine he really does want to educate people he really does want to help people


he really does want to save as many people and help them prepare for what's coming as possible and that's kind of the idea the more of us that are prepared maybe the worse it is and maybe the more we can help other people and be part of the new society that is going to come whatever that may be and whatever it may look like so my wish is that we make sure all of us are fully prepared and then help as many others be fully prepared starting with owning physical gold and silver so that's my plan anyway we used to have a


saying at goldsilver.com i mean i started this to try to save the middle class our saying was saving the middle class one investor at a time because uh the middle class determines how the the middle class usually is about 70 percent of any uh modern society any uh prosperous uh first world society and uh as the middle class votes so goes the nation and so uh when you see uh really bad economic times that's one of the things that leads to the rise of dictators and despots and so in order to save the country


in order to save capitalism in order to save prosperity we have to save the middle class and so that was one of the reasons for gold silver and one of the things i want to say to all of my insiders out there is you know i often talk about investing investing being a team sport and i feel like it's a team when you have uh a bunch of a group of people we all we've been buying gold and silver in the anticipation that they're going to go up and they have i mean i started buying when uh the spot price was 350


an ounce on gold so it's been the best performing asset this decade but uh as this uh goes forward the more people and my insiders are a group of people that are mostly buy and hold people they don't get spooked out of it easily they they uh accumulate more and uh i'll be making one more insider video before the end of the year here but i feel like we are a team and when people accumulate it does drive the price up when there's more buyers than sellers the price rises so uh this is a team effort there will


come a day where you want to take some of your profits and and convert that into uh other asset classes that would be undervalued but right now we're nowhere near that day yeah so that is get to know what i'm doing and we should start telling them what you're doing too jeff so anyway yeah sure that's it well this has been great mike this is a little long video uh more longer than we usually do so thanks for uh uh weighing in on all this and thanks for watching and i just want to say thanks to everyone out there


for um taking responsibility and making sure that you're prepared for what's ahead so we can help other people so mike thank you for such a great year thank you for 2020 and all the good things that the company did so i wish you a happy holiday season and i wish that same to everyone every single viewer and customer of ours so happy holidays mike and everyone happy holidays to everyone out there all the viewers i wish you a prosperous and happy and healthful new year we'll see you next time


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