later on in this video i am going to show you the most amazing chart that you have ever seen and if you have any interest in precious metals whatsoever this chart will make you drool and you're going to want to forward this video to all of your friends anyway i need to give you a little bit of background before i show you that chart so i've generated this chart on stock charts and it's the price of gold from 1970 until today so it incorporates both of the bull markets the famous bull market of the 70s in


this red rectangle here and the current bull market in this blue rectangle and notice one thing right away this rectangle here is very tall and skinny and the current one is sort of short and fat now one of the things that i'm going to talk about here uh i'm going to i'm incorporating this bull market all the way back to 1999 because the price of gold sort of put in a double bottom but if you take from 1980 until today the very lowest price was uh 253 dollars in 1999 and then it was 256


in 2001 and so uh i'm including 1999 in this bull market also notice that these bull markets have a couple of phases here this is what i i call this an entire bull market i don't break it up but within this secular bull market there is a cyclical bear market and i call this a mid-cycle correction i don't call it i believe that this is one bull market if if i had any inclination of where gold and silver could go at the beginning of the 70s i just would have been buying all the time because i'm just not


smart enough to trade these things and know that that is the peak when it comes and sell or go short and then buy back in or go along right there and ride this up and i you know if anybody does they're lucky if they tell you they can do it they're lying uh it's just it's not possible uh you know you can measure whether gold or silver are overvalued or undervalued when you measure them against other assets but trying to guess where the top is when they're sort of their value is not uh when it when they're still


undervalued compared to other assets trying to guess these tops is almost impossible so anybody that was able to sell their gold in august 2011 or their silver in april of 2011 good for you if you were able to buy back in in december of 2015 good for you uh you're better at it than i am uh i just you know i i use this whole thing i know there's something wrong with the world economy and that we've got something really big coming at us and i want to be protected from it and benefit financially from it


i am not looking forward to the world uh the future as it's going to be after this next crisis happens but uh so we've noted that there's this uh three phase cycle in this run-up in this bull market in the 70s and if you know anything about elliott wave i am not an expert on on charting i dabble at it and i know that there's some different wave configurations uh there's a three-way three waves and there's five waves uh this would be called an a b c wave so you've got the a wave the b wave


the c wave notice that the sen the peak of the a wave here uh and the beginning of the b wave is centered right in the middle of this uh rectangle in both time and in magnitude and here in this blue rectangle it's way up near the top actually i drew the top of this blue triangle up too high because it goes way past further past this price the peak price than it does here so it's way near the top and it's a little bit over toward the right side of this uh the price action here now if we were to put that in the dead


center that would mean this rectangle would go way up here and it would go a little bit further out and so if that were the center and you took this a b a wave b wave and c wave the end of the c wave would be way up here somewhere and so um with that elliott wave uh analysis in mind and the fact that we're picking the beginning of this bull market as the very lowest price between 1980 and the year end today which was 253 dollars in the year 1999. it was 256. this is slightly higher in 2001 so for elliott wave analysis i'm


picking the absolute lowest price between 1980 and today in this cycle and so we're going to go to the other chart now the amazing chart this was put together by my uh chart guru the chart master alan hibbard and uh it's it's you're going to find this absolutely amazing um so what we've got here oh i'm going to go back to the other chart for just a second notice that this is on a logarithmic scale from 100 to 200 is the same distance as from 200 to 400 and 400 to 800. so we are measuring the


percentage of change with the you know if the uh price doubles then it'll be the same distance for the next price doubling and the same distance for the next price doubling so we're not measuring the amount of change we're measuring the percentage of change basically so we go back to the amazing chart the chart that will make you drool it just you got to watch the rest of this video and this is also logarithmic and what we have here is on the bottom scale you've got the 1970s bull market


from 1970 to 1980 and from 35 bucks an ounce to 800 and it actually peaked at 8.73 but the scale goes to 8.75 and so uh in that bull market we went up 25 times the original price now here there's a question mark is it going to be 36 times so there's there's something uh amazing that you're gonna see here now up here we have the scale of the current bull market and this you'll notice only goes to 2009 and then from 250 this is also a logarithmic uh price scale but alan made me these really slick


little tools here i can compress the timeline and i can i can expand or compress it and i can expand or compress the uh the magnitude of this move the price and so let's uh um compress a little bit of you know this is going in in 10 increments of compression and so what we're seeing here there is the peak of that a wave and what i'm going to do is line it up with this peak the highest price of the a wave of the 70s bull market and that requires 2.42 is the number that gets them to line up


exactly and so i've got to change this from 0.1 to 0.01 now and there's 2.42 and these peaks are exactly lined up as you will see in a second and then i'm going to start compressing the price scale and this amazing thing happens and when you get to 1.8 times they line up exactly and look at this this is you know like i said mark twain is often quoted but there is no evidence that he ever said this that but he has said to have said that history never repeats but it rhymes really well


and then eugene o'neil said that there is no past or present only the future happening over and over again now and look at the correlation here this is like totally insane the correlation in the 70s bull market and and today's bull market is just absolutely scary this is so spot on um i didn't have a correlation run on this but this would be in the very high 90 you know the nine uh seven something or point nine eight something or i have no idea but it would be almost uh a perfect fit


and we're actually where we you know this includes the price data to the end of last month so to september 30th i believe and we are actually a little bit lower than the you know if this was history repeating uh we'd be way up above 2000 right now and we will be in the future so if you're watching this in the future sorry i just dated the video uh but we've got a long ways to go and this is suggesting that the target date that this the that if history continues to repeat so exactly


that the target date will be november 9th 2023 so sometime in late 2023 but wait there's more i'm going to delete something i did here to cover that up the price target is 11 250 dollars per ounce if history repeats we've just got this greatly amplified echo of the past so it's taking 2.42 times longer in duration but it's 1.8 times greater in magnitude now there's even more to this that means that the time remaining the remaining gains and the remaining yield there's you know


this is as ups of september 25th 2020 the price was 1866 dollars then uh and uh we've got 3.1 years remaining six times the gains remaining you know uh dave morgan says 90 of the move comes in the last 10 of the time i've said it many times other people have said this uh so uh we and and what's interesting you know this is the remaining yield 77.8 per year per year this is like totally insane uh now i'm not saying this is going to happen this is just if uh the you know we've got uh 21 years


of time in this uh the green bull market here the current bull market uh and it's echoing the uh 10 years of time in this the the 70s bull market now that may not continue but in the 70s bull market we didn't have the world's central banks printing their currency into oblivion we didn't have uh the global stock markets all uh so incredibly overvalued they were overvalued in 66 they had been deflating actually they were going sideways while the well inflation was raging uh causing the stock markets to become


very undervalued so they were undervalued at this point in time real estate had bled off a lot of its value it hadn't kept up with inflation the precious metals were the stars of the show in the 70s because of that dramatic inflation while real estate and stocks went sideways precious metals turned in this amazing performance i'll make a video on that later but if this echo continues to play out we'll see this 11 250 gold but that's if you don't have countries printing their currencies into oblivion


and you don't have everybody rushing toward the safety of gold if the markets crash or collapse and if they do start to crash or collapse the world's central banks will rush in to save not us to save the markets and cause a wealth transfer from the poor in the middle class to the uber rich so i want to thank you for watching this and i want to thank alan hibbert again for making this amazing tool for me that i could share with you so will gold go up 36 times from its bottom to its top if history


repeats it will however there's you know i used to say history always repeats but with little twists and what are the twists markets are overvalued we've got currencies doing emergency maneuvers because of the global health problem and we've got this printing into oblivion and so i think that this is probably going to be a low side target what do you think what does this all add up to you so i want to thank you so much for watching and please if you got anything from this if you enjoyed it if you were blown away by it


if you're drooling over it like i do then please share it with anybody you think might be interested uh our channel is being throttled lately and we could we could actually use the help i want to thank you for watching we'll see you next time