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 I believe that gold has entered the third and final stage of this amazing bull market. The stage in which it makes the greatest gains in the shortest period of time. And in the rest of this video, I'm going to present the evidence. Uh remember, I have been waiting for this bull market for 20 years. I started investing in gold back in 2002. I became a precious metals dealer in 2005. I released the best-selling book on the subject in history in 2008. I released the uh current best-selling book on the subject

in 2023. So, I've been waiting a long time for this. And the evidence is there. What we have to do is take a little trip down memory lane and look at where we are in this bull market compared to the last time gold and silver were in a bull market back in the 70s. And so we're going to be looking at media attention here. So, uh, gold and silver have been making some headlines. Gold was on the cover of Barons in April. So, this April sort of to me marks the turning point from the end of the second phase of the bull market into

the third phase. And then uh you know so covers of magazines front page on newspapers, Financial Times with gold. Even the Wall Street Journal is now telling people how to invest in gold that uh many Wall Street professionals now recommend having at least a small portion of gold in your portfolio even though it has been the number one performing asset class of this century. And so to present this evidence and give you just a little inkling, a partial understanding of how big this thing could be, I need to read you an excerpt

from my book, The Great Gold and Silver Rush of the 21st Century. And we're going to start with chapter 7, Enormity Squared. I'm going to read you the last seven. And in those last seven pages, you're going to get a glimpse of why this thing is going to be so big. This will give you just a little inkling of where things could possibly go in this explosion that lies ahead. The laws of supply and demand are fairly simple. As the price of a good rises, demand will fall simply because people can't afford

as much of it. So, they will seek an alternative item that is cheaper. Conversely, when the price of something falls, people will buy more of it because basically it's on sale. But in 1890, the Scottish economist Sir Robert Gifin proposed that there exist certain special types of goods that exhibit properties that violate the laws of supply and demand. Gifin theorized that these items always create more demand as their price rises. There is still a debate among economists as to whether GIF goods actually exist, but I'm going

to put a stake in the ground right now and say that gold and silver are the ultimate GIF goods. Gold and silver sometimes exhibit supply demand properties that are the exact opposite of other goods. When the price falls, nobody wants them. But when their prices rise, everybody wants them. They also exhibit fear and greed dynamics that are the exact opposite of the stock markets and simultaneously exactly the same. I know this I know this sounds weird, but hear me out. If the price rises a little, some people see other people

making gains and they want in on the action too. This is the greed-driven portion of the price rise and emotional dynamics are still the same as the stock market. But if the price rises beyond a certain point, some people will still be buying out of greed while a few people start to get worried about the economy and they buy because of fear. This is the portion of the price rise where the polar opposite emotions of greed and fear exist simultaneously. It is also the portion where gold and silver begin to exhibit

gif and good properties. If the price continues to rise or if there's a stock market crash or a problem in the economy or the currency, then a fear-driven panic can take over causing more people to buy which causes the price to rise more. This is the point where all of the sellers, the people who would normally sell and take profits because of the high prices, completely vanish from the market. They hold on to their gold more tightly because of their own fear, causing supply shortages, which causes

many more people to panic. So they buy a lot more, causing the price to skyrocket, and so on and so on. The shape of fear. Now, this is important also. Now, I'm going to present you with a couple of charts, but I don't want you to read them like you would read a normal chart. In fact, I'm not going to put dates, numbers, or scales on the chart on these charts. Instead, I want you to look at the shape of these charts and try to see the emotion in them. What is the emotion in these pictures? Yes,

charts don't always have to be cold, analytical things. Many times they convey the visceral emotions of greed and fear. This is a chart of one of the most popular stock market indexes. Notice that it has smooth rounded tops, but when the markets are crashing, fear takes over and the chart makes these sharp Vbalance bottoms. The run-ups and rounded tops are a picture of greed. Whereas the sudden crash and the Vbalance bottom that looks like a spike, a nail, or a knife is a picture of fear and panic.

Here's another chart. Do you see the similarities? The same rounded tops and the spiky feard-driven bottoms. The first chart was the S&P 500 index adjusted for inflation. But the second chart is not a chart of the stock market. It's a chart of gold. The reason it doesn't look like a chart of gold is because I've inverted it. I flipped it upside down. Here's the same chart of gold viewed right side up. That big fear-driven spike that starts on December 3rd, 1979 when gold surpassed

its all-time high of $426 per ounce set the pre previous October, hitting $428 an ounce. That was the day gold took on the characteristics of a gifing good. Although some people were feeling greed and just chasing the price, you must remember that the US dollar had only been a fiat currency for a little more than eight years. And many people were concerned that the US dollar could actually fail. Their fear and panic caused gold to soar from $428 on December 3rd to more than $873 per ounce over the next 29 trading

days, peaking on January 21st, 1980. To give you an idea of the motion, the emotion and psychology that was driving the gold price in 1979 1980, I've included an excerpt from an early draft of my first book. So what I'm going to read you next, I wrote probably in 2006 and then 50% or 70% of it was edited out of my first book. So this is basically the original draft. Gold had started rising from $35 an ounce almost immediately after leaving the dollar. But in 1971, anyone who said gold could

reach $50 an ounce was considered crazy. And anyone who said that $100 per ounce was possible was tied up, hauled away, and placed in a rubber room. But in late 1978, gold broke through the $200 barrier, and something changed in the character of how gold was being traded and how gold was viewed by the public. Gold was once again acting like money. Ingot we trust. Time magazine. June 11th, 1979. In the past two years, a new brand of buyer has flocked to the market. American institutional investors. Some

US pension funds, mutual funds, and bank trust departments are putting a portion of their assets into bullion. In 1979, people started lining up in front of coin shops, and the phones were ringing off the hook at the commodities exchanges. The glitter that is gold. Time magazine. October 1st, 1979. From Zurich to Chicago, from London to Hong Kong, gold bugs are scurrying once again to buy into their favorite hedge against disaster. With people battered by inflation and recession, worried about oil and lacking confidence in leaders

and cures, the gold rush of 79 has turned into a stampede. In the past month, silver has risen 65% while gold has gone up 23%. The popularity of such tangible assets reflects a fast deepening distrust of all paper currencies. Essentially, the price of gold is an index of anxiety and a barometer of fears. Gold had begun September of 1979 at $315. And by October 2nd, the day after this article, it hit $426, a 35% rise in one month. Gold languished for the next two months, but then on December 3rd, gold surpassed its

previous high and it was off to the races. Stampede for precious metals, Time magazine, January 28th, 1980. Last week, gold left even its most frenzied boosters gawking in astonishment. In five wild and erratic trading days, it leapt by an incredible 34%. It was one of the most dazzling run-ups in history, and it underscored the enduring psychological lure of the yellow medal as the most consistently sought after possession in times of strife and uncertainty. Harvard social psychologist Roger Brown compared the

panic to the rush on the gates of the WHO concert in Cincinnati that left 11 dead. Says he, "The fear that they are going to be too late and left out causes people to stampede." In cities throughout the US and Europe, people by the thousands lined up at jewelry and coin shops, lured by newspaper headlines of eyepopping new prices for gold and silver and even by hourly news broadcasts on the radio. Of course, the rise reflects intensifying anxiety over the world situation, particularly the crisis in Afghanistan

and Iran. In times of such great concern, people are moved to switch out of paper currencies and into objects that seem immune to political travail, observes Alan Greenspan. Gold is a store of value that governments cannot seize, devalue, or easily confiscate. Still, the US eventually may pay a high price if bullion keeps leaping. If a dollar is only worth 1800th of an ounce of gold, then it seems to be worth almost nothing. I remember this fairly well. I remember watching the local news broadcast and being amazed at the

helicopter shots of the line of people waiting to get into a local coin dealer. This dealer was only a few miles from my home located on a major city street in the center of the block with sidewalks about 15 ft wide. And the line of people went out the front door stretched down the block filling the sidewalk around the corner and up the side street. the news media were interviewing people in line and the lines were being compared to those for Star Wars and Apocalypse. Now, now we really get to So, that's how

the media uh reflects what's happening today is just the beginning of the media waking up and noticing this. And that's what starts the stampede, adding it all up. So now let's add it all up and try to estimate just how much currency could come chasing gold and silver in the great gold and silver rush of the 21st century versus 1980. Today we have 18 times more people around the world that can buy precious metals. 55 times more currency, 56 times more millionaires, 200 times more billionaires, 220 times

more available consumer credit, 31.5 times more assets under management, and 49 times greater global stock market capitalization. It's actually impossible to add all of this up. It really doesn't matter if there's 18 times more people who can buy gold and silver. What matters is how many people will buy gold and silver. It really doesn't matter that there's 55 times more currency in the world. What matters is that almost all of the newly created currency went to people who are already well off.

People who have significant assets to protect and therefore have an investor's mindset. These are the people who will seek the safety of gold and silver in the next crisis, driving their prices to unimaginable heights. Now, as I said before, I don't want to double count anything or anyone here. So, to make this easy, I'm just going to lump currency, credit, assets under management, millionaires, billionaires, people with an investor's mindset, and the people with significant assets to

protect all together and just pick a number the best I can. Let's say there's probably 50 times more currency available today for investment in gold than in 1980. Yet the amount of available gold in the world has only about doubled. So that's 25 times more currency per ounce. Then to that 25 times more currency per ounce, we must add the speed of light news and market dynamics and that gold and silver are given goods that create more demand as the price rises and the fact that their price

responds positively to war, geopolitical crisis, economic crisis, and just about anything else that causes human anxiety. And you can still only get a tiny little inkling of just how big this thing is going to be. If the bull market of the 70s drove gold up 25 times and silver up 41 times with only 125th the amount of currency per ounce chasing them and then you add fear to the mix. Just what do you think will happen this time around? I'm not cold-hearted. Yes, I'm concerned for the plight of the average worker,

the average citizen, and the average investor in the crisis I see coming. They are the ones that are going to end up taking the punishment for our immoral monetary system. I'm sorry for them and I'm trying to help. That's why I wrote this book. But please, somebody pinch me because I must be dreaming. I mean, I'm a precious metals investor and this is just too good to be true, isn't it? I've gone over this hundreds of times and I keep coming to the same conclusion. No, it's not too good to be true. It's

exactly true. or even better, enormity squared indeed. But remember, price means nothing. Value is everything. I believe that for every ounce of gold and silver you own today, you are going to be able to buy many, many times more stocks, bonds, real estate, businesses, and just about anything else you want or need. One day, the precious metals are going to amaze everyone. Make sure you come back and read this chapter once gold goes soaring past 3,000 5,000 $10,000 per ounce and never looks back

because the great gold and silver rush of the 21st century is absolutely going to take your breath away. I want to thank you for watching.