hi i've got jeff clark the senior precious metals analyst of goldsilver.com on the line with me for another what the fact the frequently asked questions that's what fac stands for so how are you doing jeff i'm doing great mike it's great to be back with you too so yes here's another question we've got some for some uh or excuse me from some long time readers and and viewers and that is this you've talked about there being uh some type of emergency meeting over the u.s


dollar uh because the system is breaking down has to be revalued and the dollars are losing so much value that they have to meet and decide to do something about it the world leaders have to meet so one question is we've talked about this for a while um how much longer do you think it's going to be though before this emergency meeting is held about the u.s dollar is this something that's going to be in the near future or could this even be another decade away so do you have any sense for the timing of


all of all of this mike well you know one of the things that i also said is that when you try and pick you can you can have like a price target on something or you can have a date that's a but when you try and say two things you're gonna say this is gonna happen and it's gonna be by this date then you're most likely going to be wrong and i've said that before and i said that you know when i made this prediction but um i i did say at the beginning of the decade that by the end of this decade that there


would probably be some emergency meeting of the g20 finance ministers or something like that to hash out a new world monetary system uh well the the end of the decade is the last day of 2020 so i still have some time left but uh i'm probably not going to be accurate on that point the g20 meeting but you know what we're already in the transition to new monetary systems bitcoin is a transition you know distributed ledger blockchain technology is a transition to a new monetary system it's happening now


uh with all of these different crypto currencies um we just heard that there's going to be digital uh wallets uh for fedcoin basically a blockchain-based uh federal reserve uh dollar and uh that is basically a new monetary system negative interest rates that this is um i don't know if that's a new monetary system or if that's just this one falling apart i think that's more this one disintegrating it's a symptom of a monetary system that isn't working uh and you know i did a video about um


11 250 gold and basically that was a video just about uh echoes of the past it's the uh 1970s bull market overlaid with today's bull market and my chart maker made this wonderful tool where i could compress the time on this bull market and compress the amplitudes that i could line up what's called the a wave of uh it's an elliott wave analysis the a wave is from like from the very lowest price the beginning of a bull market up to a peak and then it pulls back and then it continues on


in an abc pattern and so uh lining up the peaks on the a waves from the very lowest price from 1980 until today and the the lowest price and then the peak back in 2011 uh if the the echo continues and the correlation is astounding it's unbelievable how close uh we are when it comes to tracking what happened back in the 70s it's this greatly amplified echo of the past and that would end in november of 2023 so who knows i i think it just feels like it should happen in some time in the next three years it


really does i mean they're having too many problems uh the global health problem that we're having i call it the batman wu flu uh or the or c 1984 uh and um the the fact that this time we're starting from massive bubbles in in stocks real estate and bonds uh in the 1970s when when gold hit 873 uh was its peak in 1980 according to stock charts and silver hit 53 something when that was happening we were hitting a low when it came to the overvaluation of stocks stocks were very undervalued uh in 1980


real estate was undervalued it was precious metals that were overvalued this time uh we're we're going into this crisis of the monetary system with i mean in 1971 when there was a crisis of the monetary system when we had the last shift uh the markets had had peaked in over valuation and in 60 back in 66 and they had been uh reverting by means of the markets moving sideways while we were having raging inflation and so they did not keep up with the inflation p e ratios and all of that came down to where the markets were not


uh in hyper bubbles when we made this transition today we've got all these hyper bubbles we've got this giant pullback in the gdp of the world and uh a shift in world monetary system and then the fact that uh we're going from a monetary system that was based on you know the last times the monetary system shifted it was uh baby steps off of something real gold that had never failed in all of human history and uh two something that always fails so this time we're going from the monetary system


based around only something that always fails to this gigantic step of back to something that doesn't fail gold and silver and that's what it looks like gold will be used in the next monetary system according to some people from central banks uh and if it is then we're talking about some spectacularly high gold prices but the timing on this i don't know maybe i'm wrong but i'll tell you if this uh digital uh fed coin wallet the uh digital currency of the us dollar that's issued by the


fed if that comes out uh one of the things that i read said january 1st 2021 then that means at the end of the current monetary system is the end of december of 2020 and so then i will have been right otherwise i missed it by a few years i tend to be early but you know i i've also tended to be mostly right and so uh i'd rather be early than uh than uh late and wrong right another hint that the monetary system is beginning to shift is simply the price of gold i mean gold uh bottomed at 700 an ounce


in i believe it was october 2008 so it's roughly tripled here as you and i speak so that's another hint that just in in less than 12 years the price of gold has tripled uh tells us that something else is is underway and this process is really just getting started now yeah so the timing is less important to us the fact that we think this is something that is coming is what is really important and to make sure you have you know proper exposure and proper protection with physical gold and silver


which we think will also be uh something we will profit on as well so well mike thanks for addressing this i hope that helps some individuals is there anything else you wanted to say on that topic well uh some you know in the question somebody was saying that they were worried that this is going to take another 10 years it certainly doesn't feel like that to me it feels like there's an emergency going on right now that they're trying to put patches on things and gets things not to fall apart they don't want to go


back to gold gold puts a constraint on what central banks and what the governments can do and they don't like those constraints they like to be able to inflate as much as they want and yeah gold is a signal uh the price of gold is definitely you know alan greenspan called it a canary in the coal mine it tells you when something is going wrong and when the federal reserve in the world central banks are not doing their jobs properly i don't think their jobs should exist but i really don't think that that it's


possible for this to go on for another 10 years we have had a world has had a new monetary system every uh 30 to 40 years and this one is already 49 plus it'll be 50 years august 15th of 2021 will it make it to its 50th birthday that is the big question so the echoes of the past uh video with uh the uh eleven hundred and eleven thousand two hundred and fifty 250 gold in november of 2023 that's if the egg i don't think it's going to follow the exact route but if a crisis happens before


that that will speed that up and uh the the bull market uh won't repeat but it'll still rhyme really well you're right very good uh the a shift in the monetary system will be one heck of a rocky road so we do encourage everyone to make sure you have proper exposure to real money uh in this period ahead we think it'll not only protect us but give us like i said some profit opportunity as well so so mike thank you again for addressing this frequently asked question we hope it's


helpful for everyone and i'll see you at the next one thank you jeff