hi this is mike maloney and i've got jeff clark with me jeff how are you doing i'm doing great mike it's great to be back with you this week again of course and we've got lots to talk about uh this week but we have a surprise for everyone we've brought on our president of gold silver.com alex daly so alex thanks for joining us and i understand we have uh a couple exciting announcements to make here uh but before you make those announcements can you give us an update on the status


of the bullying industry and bullying availability and all that yeah sure jeff thanks for having me on always great to be on thanks mike too um yeah it's an interesting bullying market right i think everybody's relatively aware that ever since covid hit there's been an increase in demand for bullion in particular silver and gold right we've seen prices go up we've seen demand go up pretty consistently from this time last year what's really interesting is since january i think everybody's heard about


the reddit silver squeeze and stuff we've really seen an increase in demand for physical silver and it's driven up premiums in the silver market pretty significantly anybody who's gone and shopped around for say a silver eagle or silver maple leaf has probably seen the increase in those spreads i say premiums just because the spot price has not been affected nearly as much right i think what we're seeing here is an interesting phenomenon in the silver market where sustained demand over the course of a year and


an increase in a decrease in the supply from the mints right we've seen the royal canadian mint the u.s mint a lot of the private mints having trouble staffing fully getting out their normal allocations that those two things have combined to sort of drive up premiums in the silver market but not drive up wholesale costs so three months ago um a silver eagles premium in the wholesale market was about a quarter of what it is today it's up 4x over the course of about three months now that said you know if you are trying


to buy say a thousand ounce bar from comex or just on the wholesale market directly for spot delivery it's the same price it was three months ago right what we're seeing is sort of a disconnect between physical silver and spot silver and that at some point is going to have to shake out right other spot prices are going to come up to follow as these mints try to buy more capacity try to buy more silver on the market or premiums are going to decrease as a result we are as you said jeff trying to put in some interesting new


products into our product mix to help people um you know get better prices on silver than what they're seeing in the market today while i'm sure it is great for somebody to take say two day delivery on a silver coin that's available i don't think anybody wants to do that at a 50 premium over spot right with with wholesale silver with thousand ounce bars much much cheaper the first product that we're announcing right now is that we're actually going to bring the ability for people on goldsilver.com


to buy industrial weight silver in individual ounce increments you'll actually be able to purchase fractional ownership of silver bars comex bars stored in a vault with gold silver we call it instavault silver we also have instava gold silver is available in one ounce increments gold's available in one one hundredth of an ounce increments and when you purchase these products you have instant availability in our vault that means you're getting today's price you're benefiting from what is a low


spot price compared to premium physical silver today you're getting it available for instant liquidity so if you buy now and you know your your credit card is settled or your payment is settled and it's in your vault you can then sell immediately right so an hour later if the silver price hops three bucks because there's another big movement in the market or scary economic news and you want to take a little bit of profits off the table or you want to purchase more you can buy more instantly you can sell more


instantly and the great part is this is real physical silver you own so you can also take delivery anytime you want so with instavault silver you can purchase now at much much lower premiums benefiting from the price of these thousand ounce bars and then you can take delivery anytime you want today or six months from now or six years from now when premiums have changed right if you if you get to a point where say silver eagle prices drop much closer and you want to take delivery for just the cost of the spread between those two


products on the ask side and a simple insurance and delivery fee you can actually take delivery we're also going to be introducing some other large format silver for direct delivery purchase so we have made a purchase of a pretty significant quantity of kilo silver bars which are really becoming the new standard and fixed weight bars out there i think you're seeing them take over 400 ounce bars they're a great price point just below a thousand dollars at today's silver spot price and we can


get them frankly at much lower premiums than where we're seeing kilos today on the market so we've made a pretty significant purchase of kilos for delivery out of a mint from hong kong they're coming to us at the end of april and we're going to be making them available for pre-order this week so between instavault silver and in and the new silver kilo products which are going to be from hereas one of the best known mints in the industry i think we have a great set of options for people to buy


much lower cost much lower premium silver on today's sort of softer spot prices i think it's a really great product out there and and it'll really help consumers get a a better selection of silver for their dollar that's very exciting alex i can't wait to see those products that's very good um mike so do you have some questions for alex too well i'm just so glad that we've uh done this because i just did not feel i don't feel comfortable uh selling anybody a product where it's


uh 50 over the spot price uh buying something now where you've got real silver not uh an ex a paper exposure to silver but you've got real silver in a vault and waiting for the spreads to come back down right now uh for every silver eagle that you buy you can get an ounce and a half of this silver basically and then you can wait for those spreads to uh come back down and it you know it might take 1.1 ounces or 1.2 ounces instead of 1.5 to convert that into silver eagles in the future once the spreads uh relax again and you


know demand is always going up and down and up and down supply is rather constant so these spreads are the supply demand uh they're they're setting the balance between supply and demand uh and uh they're just they're unavoidable and the only thing that you can do is come up with the best plan to get around them and this is that plan so i'm so glad that we've done this so alex how does everybody find out about this it's not on the website yet i mean do they have to sign up for the newsletter to get the


information when this comes out and the other question i've got is does this qualify them for the insiders program yeah absolutely mike the best way to find out about any of our deals sales new products promotions is join the email list we always let those folks know first what's new on the site give them the first crack it's a limited inventory like those horres kilo bars only have so many of those coming uh and new pro new products like instavault and yeah every purchase on goldsilver.com qualifies for insider


status whether that is the new insta vault silver or horres bars eagles maples everything we sell counts towards insider stat great so uh jeff what else have you got for us today well i just wanted to point out i jumped on our website this morning uh before this call and alex i see that we have um a lot more products available now uh silver maple leafs are back the philharmonic the 100 ounce silver bar we have gold eagles back in stock gold buffaloes the krugerrand um the kangaroo the philharmonic the


gold maple leaf is back so alex this is great to see all these products that are back and available for purchase now how would you describe the industry right now what's the status of of the boolean market right now with availability and also premiums are premiums coming down too yeah the bullion market is definitely catching its breath a little bit right i think the peak started around january 30th with the reddit silver squeeze that frankly brought in enough business that we had to close down our store for the


first time in years i think it's been more than 10 years at this point that we've actually had to shut down and say we can't take any more orders right now and that's because we sold through you know weeks worth of future allocations of deliveries right gold silver maintains some inventory of its own we also sell on allocation just like every other dealer in this industry does and when we get out to a few weeks out we start to get uncomfortable selling to people right we want to have people get


rapid delivery and then right on top of that we saw the dallas winter storms a huge amount of the distribution uh network that we rely on whether that's fedex or ups or the u.s postal service runs through texas tennessee that area of the country that was hit really really hard fedex has been talking about delays in its infrastructure pretty publicly you can go search on the wall street journal in bloomberg and see where they have two three four week delays at the tennessee sorting facilities


so we got really uncomfortable sending packages through to have them sit in a warehouse in tennessee and not get delivered to our customers right we have insurance policies to worry about we're not selling sweaters we're selling money it's a very different business so we try to be conservative about what we offer for sale only things that can be delivered within a few weeks time and what we're seeing right now is the wholesale deliveries to our warehouses are speeding up a little bit we're seeing more metal


come out of texas where there's a couple of very large wholesalers we're seeing more make it through the fedex hubs in tennessee and ups hubs around the country that have been very backed up and so we're able to put more up for sale because delivery timelines are tightening spreads have been a little slower to fall than delivery timelines so i think you'll find especially on the silver side that the eagles and maples are a little more expensive relative to the spot price than they have been


in the past as i said that has a tendency to sort of rubber band back right either those premiums fall or the spot price rises to catch up one of the two has to happen right they can't stay disconnected for for long periods of time but because the spot price is based on on futures markets and industrial demand that doesn't move up and down quite as quickly as consumer demand does it takes a little bit of time for that to happen um so definitely catching up jeff i think i think what we'll see over


the coming weeks is probably a slight softening of spreads but a definite decrease in delivery timelines but right now demand just remains much much higher than it was a year ago right before the covid pandemic right we're coming up on the anniversary of the lockdowns and the surge in demand the u.s mint still shows no real taste for increasing allocations any significant way canada is still way off what it was in 2019 and early 2020 delivery volumes so i i think these premiums are here to stick around for a little while but i


definitely see delivery timelines tightening that's great to hear so very good and silver is up this morning if you don't know we're almost back to 26 so still uh within a very reasonable buying range as far as mike and i are concerned so okay great well let's uh switch gears real quick and talk about an article of the day we have here and it's an article i wrote on one of our most popular articles that's ever been on our website and that is how much gold and silver does it take to


buy a home or a vacation home and you can see this chart here how many ounces of gold it takes to buy the average priced home in the u.s now i'll point out that mike and i had a discussion here after this article came out about the sources used and you'll see i use the fred data for average home prices uh and then you can see how many ounces of gold it has taken there historically and currently uh but if you use the u.s census bureau data that mike pointed out to me uh the average price home is actually


lower than what the fred source reports these two different government sources actually have different data on the average price of a home but if you do use the us census bureau data going back to 1980 at the peak of the market it only took and if you scroll down to the silver ratio there it took actually less than 1 000 ounces of silver coins to buy the average price home in the u.s it actually took 944 at the peak of the market if you use u.s census bureau data so mike thanks for pointing that out to me


yeah that was the us census bureau data but uh the uh the guy that made the charts uh was using monthly uh average for the gold and silver price if you actually use the if you were able to catch the peaks you're talking about 890 ounces of silver for a single family median price home and you're talking about only 50 ounces of gold um and so uh it's it's actually i mean the scenario here is pretty spectacular because you know if you look at it we're at uh 15 000 ounce price right now for a home of


uh of silver eagles or silver ounces i mean and um if you uh if it gets back down to that 19 where silver was at its 1980 high 1464 is what's in the chart well that's that means if you sold a home today and you put the proceeds into silver and if these ratios do get back to where they were you're going to be able to buy more than 10 homes that are similar to the home that you sold and when when you go to that 890 ounce price the the winnings get even more spectacular but it's a great article i suggest that everybody


reads it because it gives them the idea of pricing things not in currency but in real money and there's a big difference because real money will maintain its purchasing power throughout the centuries uh fake money uh fiat currency that's debt based cannot it's by its very design yes very good alex what do you think uh buy a beachside condo someday with uh three cases of silver eagles or maple leafs that sounds good to me i will add a wrinkle to what you guys are saying that it's sort of


you know even more in favor one of the issues with average home price data media and home price data is probably the right word to use is that median homes have gotten bigger right so one of the factors in median home price increasing is obviously the deflate you know the inflation of the currency the devaluation of the dollar right another factor really cheap rates right now right so so home prices relative to say you know average incomes are as high as they have ever been right now and that's something


that will have to come back down and that median home size has gotten significantly larger so when you go back you know 40 50 especially 70 years and make that comparison it's probably worth jeff crunching the numbers and seeing what that looks like in terms of how many square feet of house a silver coin buys i bet that number turns out a lot better to be frank because at this point right we're up to like 1400 plus square feet from what used to be 1100 on those median home price measures


yeah that's a good point right homes are much bigger so uh very good that'll be an exciting thing we can do i'll do that someday well on to tweet of the day here and this is a chart that is from chase andrews and he shows here that gold is holding on to its 61.8 percent fibonacci retracement so mike you've talked about fibonacci trends and things like that uh before in the past this chart shows that gold has uh retraced 61.8 percent which is a major fibonacci level so mike what do you think is uh this may be the


bottom for gold or how do you interpret this chart yeah this is an amazing chart but what's even more amazing is the resilience that silver has shown during this pullback in gold now if gold does break this fibonacci support i would expect that it would pull silver through its support zone and that we would see a further pullback but this could very well be the bottom in gold and gold and silver may start rising again from here so i'm i'm set with certain targets and i've got a little bit of extra cash


on the side so that i can make some purchases during this pullback uh most people chase price and what you want to do is buy when the price is down not when it's up uh and so and we see this with our sales when the price is soaring that's when when we have the most sales but when the price falls when people should be buying they stop and so i'm trying to do the opposite i've got cash set aside right now waiting for the signal that this is the bottom and the reversal has come yeah very good um uh alex what do you


think a good buying opportunity here maybe for gold and silver i'm not much of a technical analyst jeff but i am with mike that it's a good time to own gold and silver from a macro perspective and a good time to have some cash on the side for sales right we've never seen a stock market quite at these levels we've never seen you know a currency stimulus quite at this level you know i i think there's just a great setup to be cash heavy right now especially if we see what mike has long


predicted which is deflation which they will fight tooth and nail followed by a large large inflation that that's the time you want cash on hand and so i think you know whether it's short-term or mid-term thinking here you know whether you're buying next week on a dip or buying you know like a lot of people piled into silver when it was you know approaching 15 levels last year have uh have seen a great return on their on their money i think this is you know good time to be in cash uh


alongside of your uh your your metals um but don't forget your metals can be used as cash too right they're highly liquid available for sale anytime that's one of the reasons to keep them in storage it's one of the reasons to use something like instavault i'm sorry for the shameless plug but uh you know it's a good time to keep your metals very very liquid because there's going to be something you want to buy when uh when real estate comes back down as rates go up which they're already


starting to do mortgages back over 3 10-year treasury yields are up you know we're already starting to see what looks like the beginnings of some form of of deflation and they're going to fight it tooth or now we're going to get that 15 minimum wage and we're going to keep getting currency air drops and and so it's going to be really interesting a couple of months and years ahead of us yes very good it has been very weird with the uh you know some things inflating and uh other things you know for a while we


were seeing oil in negative territory and uh and so you know it's it's trying to figure out are we going straight into inflation or is there going to be that deflationary dip first it's very difficult i've just never seen any example in history where a society that's all on one side of the boat where the boat writes itself it usually capsizes right now the entire population i mean most of the population is out on credit we use a lot of leverage and so for for the way for the uh


the big players to win the guy the people that run the game is for a deflationary dip first so that uh some of the assets are foreclosed on and and then inflation after that but going straight into inflation rewards the public for mass stupidity for going out on credit cards and just mortgaging everything where the bank owns their life not themselves you're right good point mike i like that uh well on to reader feedback here and this is from braden stator statters braden i don't know if


i'm saying your name right i've been stacking for years but honestly i'm starting to have my doubts the market is so manipulated will we ever have our day what if it really is different this time what if the reset takes us fully digital with no cash why couldn't they just keep the manipulation going i want to be wrong so mike how do you respond to someone who's kind of frustrated that the manipulation he believes is the reason for holding the price down right now is it gonna break i've got two responses


uh one is i'm grateful for the manipulation because that's the only reason you can buy silver at a much lower price gold and silver both are are manipulated enough to where the price is suppressed and you can buy them uh at a much lower price than they really should be if gold was three thousand to five thousand an ounce right now there wouldn't be as much of an imbalance in the world in a whole lot of things uh the the other thing is and they always lose control of these things eventually


and they have been if they uh weren't losing control gold would still be 250 an ounce like it was back in the year 2000 and silver would be about four bucks an ounce um so they are slowly losing control but when they really lose control is going to be in the next big financial crisis will they be ready with digital currencies i don't know but thank god for the manipulation because without it we couldn't buy silver at these prices and uh and i and throughout history uh what you see is the cure for low


prices is low prices if you have low prices it's less economically viable to go out and create more of it whatever it is it doesn't matter what it is but mining gold and silver is a very expensive uh undertaking and uh low prices prevent uh new exploration new finds and as you are well aware of jeff the amount of new discoveries out there is dwindled to this tiny little trickle and there's no large discoveries and uh and and so the cure for low prices is more low prices and then you'll get


high prices suddenly and it'll happen with a crisis yes very good um alex you've had some good comments you've told me personally just about this manipulation topic so what's your reaction to braden's comments here oh i mean you know one person's manipulation is another person's fiscal policy right i mean at the end of the day you're dealing with the largest forces on the planet today right you're dealing with huge central banks you know the the banks the private banks


that own them and control them and help set that policy and the influence of nation states trying to get up from one another on imports and exports and you know these are big forces and big forces don't sort of just roll over and die right these are people who are going to fight to preserve what they've built today uh and so you know i think mike's absolutely right you have to look at it on the on the long term right you can't gold and silver are not trading vehicles we're not trying to buy


you know some covered calls or some some you know we're not trying to sell puts on an earnings release here this isn't something where we're trying to you know earn on the next quarter right what we're trying to do is preserve people's purchasing power their wealth what they've worked so hard to accumulate over their lives uh with a hedge to the dollar and to all of the risk that people in the euro zone or in the u.s or any of the economies that depend on our two major currencies


you know have effectively accumulated um as their governments have tried harder and harder and harder to manipulate currency to do things it wasn't really meant to do right so you know we're in this this really unique situation where i think you know sure there's some level of manipulation in the market or some level of policy fighting against higher gold prices whether that comes through sort of a natural um you know self-preservation type of uh you know policy within the us or whether that comes from an active


uh attack on certain commodities that are going to ultimately drive um you know their price is ultimately going to sort of you know dictate and be the barometer by which people understand inflation is happening so there's a little bit of passive and a little bit of active in there but i think ultimately it's sort of you know fingers in the hole on the dam right you know you can you can put a hole here you can put a hole there but but ultimately we know where gold and silver are going if you purchased


gold 20 years ago you're very very happy if you purchase gold in the 70s you're very very happy right the trick is own it own precious metals um own them for the long run and and use them to decrease your reliance on policy and and how much that affects your bank account because the more you are reliant on policy for the value of your bank account the more they know they can just borrow from you to pay for today's programs right and you own gold and silver you take away the politicians


powers to just borrow right out of your savings account that's great input alex and alex thanks for joining us today we really appreciate your input and update on the boolean industry here so we're going to close this video out mine's good mike's going to read us the meme of the day here but first make sure you sign up for our free newsletter no spam involved or anything like that at all because when we announce the instavault program and when the horace bars can be purchased those look pretty exciting i'm going to


get some of those myself we will release that uh by email and also of course if something happens to youtube we still will be able to stay in touch with you via our email uh subscription so so do that and of course mike book mike's book is available for free you can download it the link is below this video here so so mike what's our meme of the day today well uh this is awesome i don't know what year this was taken but it's prices if you pay in u.s silver coins uh dated 1964 or earlier


and so this is a restaurant that's uh got prices and then and a lot of people actually did this uh back in 19 late 1970s uh early 1980s they had uh and all of the uh us silver coinage went out of circulation very very quickly gresham's law kicked in but you know i just went to coinflation.com and a silver dime today is a buck 88 worth of silver at melt value and so it's 18 and 80 cents is is a dollar you can get 10 hamburgers here uh i i think that um this is actually a little bit under


priced here but but you know i remember this very well uh hamburgers when i first started going to mcdonald's hamburgers were 15 cents and so i've lived long enough to see this uh where we were going from uh gold and silver as money to fiat currency and the inflation it causes so it's not really a meme uh it's an observation and it's great it is good uh and uh the reason 1964 is because silver coins were made with 90 silver back then so they have a high silver content and i do remember by the


way just real quick back during the financial crisis 2008 2009 there were some gas stations in my hometown that would accept some junk silver coins uh for payment of gas so so that could happen again if things get rough so yeah was it like 25 or 35 cents a gallon when gas was selling at five cents i mean five dollars a gallon yep exactly yeah right right so this this could be uh a a restaurant menu priced in silver today uh and uh it's interesting i've been thinking that more people should do


this right very good yeah this has been great you guys thanks so much for joining us everyone alex thank you and mike i'll see you on the next video okay see you later jeff see you later alex thanks guys