hi everyone i've got jeff clark uh the senior precious metals analyst at goldsilver.com on the line with me for another conversation how you doing jeff thanks mike and it's great to be back with you we haven't done these videos in a while so it's really great to be back talking with you and we have a lot to talk about the first thing is the election we've had an election there are projections out there but i basically want to ask you and i think people want to know what do you


think about what we've seen so far with the election and does it change anything for you in terms of investing in gold and silver uh no it doesn't change anything and it really doesn't matter what party ends up in office they're going to be doing massive currency printing which is very good for gold and silver but you know the two parties tend to spend the currency that they uh create differently but it's still you know there's going to be huge deficit spending we are in for a


crisis uh the crisis will probably end up being a banking crisis also because you know that we've had the forbearance on uh mortgages and you know people not paying their rents and so on well that comes to an end one day the the forbearance the forgiveness and then you owe those back payments plus the payments that you you need to make so there's going to be a wave of bankruptcies uh foreclosures uh and when people are not making their payments uh this leads to an upset in the bank's


balance sheets so we've got banks that are probably on the verge of insolvency right now and one day we're going to wake up and it'll just be like the lehman crisis they kept everything under the rug for a long time they did they kept any news of it suppressed and we just learned that you know we woke up one morning and learned that there was this huge bank you know global financial crisis of 2008 was this big huge surprise to us one morning same thing's going to happen this time


uh you're not going to know that it's coming uh and then suddenly uh you know they're the secretary of the treasury and the head of the federal reserve and all of these people with the the you know head of the european central bank they'll all be on television and trying to moderate this crisis that we're we will suddenly be in but it isn't sudden you can see it coming it's creeping up on us now i'm getting ready but ultimately the big winners in this i think are still going to be


gold and silver and it doesn't matter what party is in office right that's a good point it isn't who occupies the white house so much as it is this mega trend this crisis that's barreling down upon us and that we need to be prepared for it so yes great yeah and they're going to do deficit spending that is just massive uh you know and now they're preparing with it uh to so that the federal reserve can create currency and give it directly to citizens through these digital wallets that uh they're going to you


know they'll have uh the fed cryptocurrency that they're going to deposit into the digital wallets uh which that that's really going down a very dangerous road this is uh you know a form of enslavement um and being able to track everybody you know i've been saying that a shift in the world monetary system uh is coming and i've been saying that for more than a decade and we're here it's happening right now you know over the next couple of years there's going to be a tremendous shift


in the way everything operates and the global economy right now the chinese economy is growing and we've shrunk an awful lot and so um this uh shift of power from the west to the east is also taking place at the same time yes the point being don't stop your financial preparation so uh well the the next article i wanted to talk to you about mike was an article the news that came out on monday that pfizer supposedly has come up with a vaccine that is 90 effective now that has since been questioned the efficacy of that the


effectiveness of that has since been questioned but the idea of a vaccine coming out for the virus uh and this article talks about um that it could speed up the economic recovery and dim the hopes for additional stimulus so mike is that what you see coming that a vaccine uh comes and is widely distributable and so therefore there's no more need for further stimulus either monetary or fiscal no i don't think that there's any way that they can prevent the banking crisis whether we have a


vaccine or not and this vaccine i you know how well tested is it does it have any side effects this was really rushed into place and i hear that it's a fragile vaccine that it's not a stable robust vaccine it requires uh refrigeration at very specific temperatures to remain to to retain its efficacy uh and uh so uh how effective is it going to be when it's actually out in distribution there's there's a whole lot of questions here and i'll tell you what i don't want to


be the first person to get it that's for sure but they're the way that they're engineering things they're going to be able to limit travel for people that haven't been vaccinated and stuff this government control sort of scares me i don't like uh that i i believe that this is a plan endemic at this point not a pandemic uh you know there's you there's a lot of investigation that you would have to do but uh you know there was one company that filed for a patent one


year before the lockdown it was march of 2019 citing uh the uh potential of an accidental or uh uh intentional uh release of a coronavirus uh and you know they wanted this patent rushed through because they thought that this might happen that's pretty suspicious that somebody files for a patent well before this uh whole thing has has happened so anyway um i think that the uh global monetary system is on its last legs and the keynesians that are running things they don't truly they may understand all of the


uh microeconomics they understand they can see the trees but they can't see the forest for the trees they're into these little details and formulas and and they make up numbers so high that only dogs can hear them but that's from the movie tucker um and uh uh but they just don't understand the very fundamentals of economics the foundation i'm gonna have some videos on this early next year and therefore they they i think they see that they are starting to lose control you look at the


charts of federal reserve the repos the uh t-bill purchases and they're flipping this stuff on and off like a light switch these days instead of dialing it up and dialing it down they're trying this emergency maneuver and then they go well that didn't work we'll try this thing and uh it's it's actually when you start looking at the charts it's actually pretty scary yes good point and a vaccine if a vaccine does speed up the recovery as this article is claiming uh be aware of inflation setting it even


faster uh based on uh the amount of currency printing and stimulus that's been instituted i'm actually doing some research conversation right now so that article will be out this week so you can uh you can watch for that so excellent because uh what this is is if if you watch hidden secrets of money episode seven this is the beginning of that cycle where you know they panic because if you replace uh the term baby boomers with the plandemic uh they're responding to some emergency and that emergency is frightening people


and slowing down velocity and they're trying to print to compensate for that but all of that excess printed currency is basically stored up energy and when we get to a point where there's enough out there to where people feel comfortable spending it and it starts coming out of hiding that's when you see retail price inflation and i think it's going to be massive because i do not think that you know vaccine or no the crisis is not over and uh when there's an inevitable market


correction because right now the stock market compared to the gdp gdp just you know it collapsed and we've had a rebound in gdp but people forget that if you or many people just don't understand if you lose 50 of something and then you gain 50 back you're only at 75 percent you you lose 50 percent so you're down at 50 from 100 50 gains on 50 brings you to 75 not back to 100. we're nowhere near back to the gdp that we were at at the end of last year so our economy has shrunk significantly while we're


probing these all-time highs on the stock market it's totally insane and so the value of the stock market compared to the gdp is in these insane levels that are completely unsustainable can't last and it there will be a correction and when the stock market uh starts its next leg down there will be a response from the federal reserve to that so uh and and there's going to be a banking crisis some time or another there will be a response to that so the vaccine this really doesn't uh


enter into the picture um the in in the long term they never should have shut down the economy uh sweden and all of the economies where they basically told people uh what was happening they've had an informed population uh they told them what some of the protections are and then they made people self-responsible it's your responsibility to protect yourself and your family from uh you know what this pandemic and uh and those countries have done the best without damaging their gdp the damage that they've sustained to


their gdp their economies uh is caused because they trade with other nations that close down their economies in puerto rico here i mean there was there were weeks i've got a view of a free that may one of the major freeways out one of my windows and during a rush hour when people would normally be going to work you'd see one car going by where normally it was like stop and go traffic just packed you got this freeway that's like eight lanes wide and one car going down it it was just uh


absolutely horrific what they did to the economy here it was horrific you're right and on a happier note hopefully we have the holidays coming up mike and we've talked about gold jewelry before and how much you own gold silver's offering our gold bullion jewelry sale now um but you've mentioned that you own quite a bit of gold jewelry uh they make beautiful gifts uh yeah i buy it for a completely different reason though i don't buy it because it's uh pretty and because i want to


give it as gifts i buy it uh because it doesn't have a history of uh confiscation throughout history when a country is in trouble and they need to print a lot of currency they may make gold illegal to own but that's coins and bars usually um and then uh uh the people that if you try to nationalize the jewelry now you're pissing off the women and politicians don't want to do that and so uh it's a it's a rare event that they try to nationalize or confiscate the jewelry and also when you fly from one country


to another there's a landing card that you've got to fill out it asks you if you're bringing in any cash or cash equivalents financial assets such as stocks and bonds doesn't mention jewelry elizabeth taylor used to fly around the world with like a quarter million dollars worth of jewelry all the time and that was back in the 60s and 70s and so yeah i've got a whole bunch of neck many ounces of gold necklaces gold bracelets and it is you know if they did do a nationalization


what happens is uh you have to turn it over and they buy it from you but then shortly after that the price will change big time um but if you if if you sell it to them it means that you know the price you will have already had some performance this will be at much higher prices than today probably north of ten thousand dollars an ounce gold and so uh you don't try to become a criminal you sell them your coins in bars you get to keep the jewelry and so that's the reason i have the jewelry is


it's it's uh portable wealth that is uh private and uh usually not something that governments will try to nationalize yes so that's a very good reason to own some gold bullion jewelry in addition to it being beautiful um and again we are specifically talking about gold bullion jewelry not costume jewelry uh this is the impurity as a gold eagle and right there is a cost to form the gold into a necklace or a bracelet uh but typically when you're buying at a a retail outlet like a store a jewelry


store you're paying two three four times even five times the spot price uh you're paying for the art value and then the uh the the labor that it took to do this plus a chain of you know the the manufacturer of the raw chain the manufacturer where they take spools of raw chain turn it into a necklace or whatever a distributor and then the retailer and so we went directly to the chain manufacturer right to the source and had them make up some very standardized necklaces and stuff for us that are much much closer than


the spot price than you're going to see from a jewelry store so i would stay away from uh jewelry where you're you're paying so much over spot because it's going to take a lot of gold performance uh as far as the percentage move to make up for that but you know if you at the movie seven years in tibet with brad pitt uh there was a time where he had some watches and some rings and he was able to stay alive because he had those watches and rings that he could trade for necessities


so uh that's the reason that i have the jewel the rest of my precious metals i have in storage uh at brinks which is makes it highly liquid it's fully insured so that's the vast vast majority of my holdings but the the jewelry uh is sort of nationalization proof and uh and very very portable and under the radar i mean you can wear it underneath your shirt and fly to a different country if need be yeah that's great and we do have a sale going on right now you'll see that on our website we encourage you to check


that out there are some discounts we're offering a pre black friday sale if you will so uh there's also a good guide to buying gold bullion jewelry on our site we'll uh link that below this video here so we do sell out every year so if you do have some interest it's probably better to check that out sooner rather than later so well mike thanks for joining me for this video that was a great conversation we'll see you next time and goodbye everybody okay thanks jeff