gold news

 hey everyone welcome to bald guy money as the old saying goes history doesn't rhyme but it sure does repeat and the words to the current rhyming economic poem have been shown to us multiple times since 1971 when Richard Nixon took the United States off the gold standard and probably unknowingly introduced the world to the new rules of money as Robert kosaki has so eloquently put it when he Nixon turned the US dollar which had been hard sound money up to that point as it could be converted into gold

and silver into a currency backed by the United States government promise that hey we're good for it don't worry about a thing Elvis nothing can go wrong I cannot tell a lie fast forward to 2023 and you have former Federal Reserve chairman Alan Greenspan going on National Television saying things things like this the United States can pay any debt it has because we can always print money to do that so there is zero probability of theault and as much as I hate what he said I at least respect him for being

honest because that's exactly what the US government and governments around the world have done they've borrowed huge amounts of money just like you see here while exploding the money supply and making the dollars euros and Yen that we use every day predictably worthless while creating boom and bust cycles that are getting progressively worse as time goes on so in this video I want to cover a couple topics the first one being what signs I am seeing that suggest we are on the precipice or the edge of an economic

downturn you're really going to want to see these signs and then I move from that to directly address the possibility of gold reaching parody with the S&P 500 is it possible if so what prices are we talking about now just before I get into it if you're in the USA and want to Stack some gold and silver gold and silver from a reputable dealer please check out channel partner pinck it doesn't cost a thing to visit their website and you will be impressed by their prices like this 1oz Krueger and

probably my favorite gold coin which they are offering for quite close to $2,000 a piece right now which if you think about it was the spot price of gold as recently as Halloween I will leave the link to this great deal in the video description for those of you who are interested and if you want to check out the rest of what they have remember that's pin.com you can reach them at the number on the screen just please let them know you came from bald guy money now digging into the first topic and I

promise to be as brief as as possible but what are the signs in November 2023 that the economy is headed for big trouble well the first is that we are fighting the highest rates of inflation I have ever seen in my lifetime as a result central banks around the world have increased the cost of borrowing money with the hope that less people will borrow money economic activity will slow down and inflation will naturally correct on its own this type of environment has historically led to something I have spoken about a couple

times on the channel and that is when short-term yields on bonds rise above the long-term yields that is called a yield curve inversion and to keep it as simple as possible it happens when long-term investors lose confidence in economic conditions and as you can see here on this great chart I took from Game of trades on Twitter this has been the most reliable predictor of recessions since the new rules of money came into effect in 1971 and looking at 2023 we have reached levels comparable to those seen in the

70s and early 80s during a period known as Stag flation and we are currently sitting at a 60% chance of seeing a recession in the United States a recession that I argue has already started and just been temporarily paused by the Contin Ed debasement of the world Reserve currency the US dollar as the US federal government spends crisis level amounts of money despite the fact that there is no crisis and knowing that this spending is unsustainable paired with the yield curve telling us that the private sector

is bracing itself for a downturn it's all but obvious that either we will inflate till the dollar is worth nothing in which case I hope you have gold and silver or the spending slows down and is no longer able to bolster the economy anymore at which point I also hope you own gold and silver because you will not like the way your 401k looks for a few years and I will talk about the timelines when I get to the second part of this video moving on to point three which is a decline in global manufacturing I have pulled up here the

PMI Global Manufacturing Index something I closely follow to tell me when I should buy silver in that when this index is low and in Decline that is usually a good indication it's time to buy silver and I've spoken about it multiple times on the channel and apart from telling us that Silver's a good deal right now this index is clearly telling us that we are in the worst period of manufacturing globally in the last 25 years that is a sign of weakness that is not a sign that the consumer is

strong but that is a sign that the consumer is weak that is a sign not that good jobs are being created but it's a sign that the jobs that are being created are not productive their service jobs their government jobs that is not a sign of a healthy economy that is the sign of a totally sick economy once again being masked by fake government statistics and massive government spending so moving on to number four on the list what are smart people doing as they look at the situation unfold and I

don't care if you like these people the fact is that they're smart they know when the bottoms are in and they know when the tops are in I'm going to touch on why in a moment but I am starting from a 2021 article this article is not from 2023 and the reason I'm starting here will be obvious in a moment because people like Jeff Bezos and Elon Musk were selling their stock stock that they own in their company in December 2021 actually all throughout 2021 at record levels and in the last 3 months of 2021

as these stories started to come out in the Press remember I was calling for the stock market to correct and of course we got that 25% correction from 4800 on the S&P 500 down to 3,600 as you can see here I talk about it a lot because I called this one exactly in an October 2021 video so here we are again in 2023 my patreon members will recognize this because it appeared in yesterday's video where I showed everyone exactly what my portfolio looks like right now but we have Smart money people like Warren

Buffett I I mentioned Jamie Diamond in my last video you have people like this selling stocks not because they have a gut feeling but because they have access and here it is this is why they know because they have access to data that we do not have they know that unemployment the fifth point on our list is rising and they know this official number of 3.9 is total fantasy just check out the Ludwig Institute if you're curious which pegs this number at about 23% in the United States today smart money knows

people are working multiple jobs to make ends meet and they also know that more layoffs are coming and the exact scale of the layoffs because they're the ones making the decisions on the hiring and the firing and once that official unemployment number goes above 5 or 6% that is when we will start to feel the pain real estate prices will come down just as you can see on this chart which clearly indicates the relationship between unemployment and house prices this will add an additional layer of

pain to the already increasing rate of delinquencies on commercial real estate loans which banks are holding and will just as it has during seven out of the last eight recessions result in a dramatic correction in the ratio of the S&P 500 Index versus the price of an ounce of gold we are already seeing the correction take place we may even call this the sixth sign and judging by how the S&P 500 performed in very similar economic conditions of the 1970s not only do I think gold parody with the

index is possible I suspect the S&P 500 will not make a new high for about 8 years just as we saw in the period between 1972 and 198 80 so there's that timeline point that I was mentioning earlier now how much do I think the market will crash here are some updated numbers that I've cranked out based on the same analysis I did that gave me the exact drawback level for the s&p500 that we saw in 2022 and this method indicates that we could hit a bottom range for the S&P 500 between

2746 and 3518 meaning if history were to repeat itself we could and really should see gold above $3,000 an ounce within the next 8 years with my short-term Target still at $2,353 per ounce which I think we could see as soon as mid 2024 and that's a great segue to this video's viewer question from Matt alderton hello Matt and remember to all you viewers out there you can submit your questions in the comment section of this video I may just feature it in the next video but Matt basically asked when this blowoff

top moment happens for medals when the correction that I'm talking about in this video happens what should I do well the first thing is I wouldn't necessarily worry about selling it or not being able to sell it as the increase in price the rapid increase in price clearly suggests number one that there's demand number two that there's been some C cyst to have people move from paper assets into metal so I wouldn't worry about that too much and although I can't tell you exactly what

to do I can tell you what I am preparing myself to do and that's a simple one to answer and I have spoken about it in a video where I talked about converting Metals into real estate because that is exactly what I'm planning to do because remember this should be accompanied by higher rates of unemployment and dropping real estate prices I am not going to trade my hard monetary assets my silver my gold for devaluing currency I will rather sell it and convert it to real estate if my tax situation allows

me to or consider borrowing against it to avoid triggering a taxable event and buy the dip on real estate by doing this I will add to my portfolio of rental properties which if you ask me are the key to Financial Freedom and I have a tool that helps you identify when the moment to sell is and when the moment to get into real estate is it is on my patreon link to join my patreon is in the description and pinned comment if you want access to that tool by joining you get access to tons of videos My

Weekly Newsletter where I talk about what good price targets are for purchasing things like gold and silver even Bitcoin I talk about it on there so if you're interested please take a look again in the description and pinned comment join me on there and join us in the in the patreon Discord where we have chats and sometimes even live discussions live calls with that said everybody that's it for this video I'm wishing you a fantastic day ahead and I will see you in the next one but until

then take care of yourselves and as I always say the most important pillar of bald guy money is to take care of each other take care of the people in the community you live in and I will see you you in the next one goodbye