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 This bull market isn't done. People are going, "Oh, $4,500 an ounce. Gold is really expensive. I missed it." No, you didn't. This is the beginning. This is evidence that is like 100% irrefutable. This is it. Uh LBMA is nothing but a gold price suppression scheme. You know, it's going into triple digits and I've been saying that for years and this is proof that it should be there. And this is actually the reason for the structural deficit. When it doesn't pay to mine the stuff, you have not enough

coming to market to fill demand. And that's what we've had for many years now in a row. Uh a huge structural deficit. There already is a major corruption scandal that's existed like almost forever. It's just that people don't know about it yet. But this actually should be major news. Hi everyone, it's Mike and Allan again with the Gold Silver Show. Allan, you've got some five predictions that you want to go through. You want to show us that? >> Yes. Thanks Mike. So this tweet comes

from VBL's Ghost and he's got five predictions up here that I thought were really interesting and our viewers would really like us to go through because some of them are plausible, some of them maybe not so much. So we'll go through each of the five. So let me read the five and then we'll go through them. Number one, the LBMA and London precious metals market will be exposed in a major corruption scandal. Okay. Number two, the US government has been quietly accumulating gold since December 2024.

Number three, the United States is executing a new bilateral soft devaluation strategy, a decentralized version of the Plaza Accord. Number four, the US will revalue its gold holdings to a higher price level to support fiscal objectives. And number five, the US will hedge its gold to retire debt and stabilize trade relationships. >> Does it mean hedge or um >> It does not mean hedge. I think he means leverage like they'll use it gold to to retire debt and stabilize trade relationships. So it's not it's not

hedging in a in a hedging sense. It's leveraging. >> Okay. So LBMA, that's the first one, right? >> Yeah. Are we going to get a major corruption scandal? Let's see. Well, we've seen for a long time that there certainly looks like there's price suppression. And I've got a couple >> there already is a major corruption scandal that's existed like almost forever. It's just that people don't know about it yet, but this actually should be major news.

>> Exactly. So, this is decades old. I mean, you could say 50 years. 50 years they they've been using the London markets to suppress the price of gold globally. Um, and the data just supports that overwhelmingly. >> So, so this is basically from the AM fix to the PM fix when London trading is open, what that percentage price difference is uh connected to the previous day of the PM fix. So, it ignores the um the data that happens overnight in London where the rest of the world is trading. So if if the only

market that existed for gold was London trading, the price would currently be $3.76 cents an ounce. >> Exactly. >> Insane. >> It's unbelievable. >> Did I explain that correctly? >> Yeah, I think so. If people didn't get it like Yeah. If gold only traded during London hours and you know when the markets closed at night, if you pretended that overnight trading didn't happen at all and when it opens up in the next morning, you just kind of paste the gold price back to back and keep

going, you would see that it keeps going down and down and down and down and down day after day after day whenever the London market is open and go an ounce of gold would be $3 right now. Not 4,000, >> three. >> Yeah. So the LBMA is nothing but a price suppression scheme, but it happens little tiny increments every single day going down and down and down. Okay, let's let's move on. >> Exactly. So the flip side of the coin is what's happening in the other markets. So when London is closed, so overnight,

if you take all those gold prices and paste them back to back and look at the cumulative return, you'd see that the price of gold goes up and up and up and up and it's just shy of $40,000 an ounce. So 10 times higher roughly than today's price. >> So all of the percentage change of the hours where London is closed, London is not trading. And so you're taking uh the percentage change uh today, you're pasting it to yesterday of when London was not open. And uh yeah, this is

amazing. And it is this is evidence that is like 100% irrefutable. This is it. Uh LBMA is nothing but a gold price suppression scheme. >> It the whole Yeah. LBMA is a scheme spelled SAM. >> Yeah. Yeah. Scam. Exactly. Yeah. So, big thanks to James Henry Anderson for for providing these charts from Gold Charts or Us. Nick >> Lar. >> Um, so amazing. So, looking at those two together on the same chart, it kind of looks like this. So, the first line is this black line, price going down a lot.

The second line is this blue line going up super high. And then the actual price of gold that we're familiar with, that's this red line up, you know, around 4,000 4,000 an ounce. >> Wow. So that's what it looks like. And it's a similar story with silver, by the way. Um just just looking at the same kind of lines. Um you know, silver during during London hours is down. It's a few cents. 23 cents. Silver would be 23 cents an ounce. >> Wow. >> So that's unbelievable. it'd be about

almost $400 an ounce outside of London hours. And then of course >> at that uh price where we say that it's it's you know it's going into triple digits and I've been saying that for years and this is proof that it should be there and this is actually the reason for the structural deficit when it doesn't pay to mine the stuff you have not enough coming to market to fill demand and that's what we've had for many years now in a row. uh a huge structural deficit. >> Yeah, exactly. And and one thing people

might say to kind of argue against this point just broadly speaking in terms of gold and silver is that well there's a flow of metals from west to east and so if there's selling pressure in the west and buying pressure in the east that could cause the the difference in price here and that's true in a small way there's no way it could be this extreme for 50 years. There's no way. So, >> exactly. And the other thing is that uh the LBMA um is that blue line incorporates COMX trading

hours and the LBMA is only uh open, you know, they're running like 5 hours earlier uh in the day. So, there's only a couple hours overlap in that PM fix. So, the COMX is also, you know, it's a fractional reserve scheme whether it's a price suppression. Well, it is a price suppression scheme. People from JP Morgan uh went to jail over it. For years, the Gold Antitrust Action Committee has been screaming foul, screaming that uh there is a manipulation going on and they've been

laughed at and called uh conspiracy theorists and then somebody goes to jail for it and they still people still call them con conspiracy theorists and then another person goes to jail for it. And so, uh, what does it take to wake everybody up, uh, that this is price suppression? And it's happening in both gold and silver. And it's the LBMA that is one of the main culprits. And, you know, if you look back over the last uh decade, you'll find there are banks that pulled out of the price fix. Uh the

price fix is just a group of banks that uh decide gold and silver will be they look at market prices and they decide this is the fix and then a lot of dealers are selling off of that fix all day long. Then at the close of the day there's a PM fix and um uh this this is the proof that they are uh the key culprits here. >> Exactly. So, getting back to our five predictions, will um the London precious metals market be exposed? I I mean, depending on your standard, they already have been. It's sort of hiding in plain

sight. >> Well, who knows if it'll take another form? >> They were running out of gold a while back and then gold flows started h happening from the United States. It's interesting if you look at since co these the way that world gold flows just suddenly like switch like it's an emergency and it was uh the comx was going to uh have a force majour basically if they didn't get refilled and and a whole bunch of gold flowed out of England and then the Swiss refineries all stopped shipping to anybody else on

the planet and shipped only to the United States for a few months. We wrote about it in uh our book uh the great gold and silver rush of the 21st century. But then recently uh the LBMA was running very very low on silver and all of these exchange exchanges are just nothing but fractional reserve schemes. The number of contracts that exist, the ounces of paper, gold and silver which sets the spot price can be so many multiples of the actual physical that's there. and the LBMA uh became very dangerously low on silver. They became

low on gold back during CO, but they really became low on silver recently. So anyway, let's move on. >> Exactly. So that that leads us into number two. The US government has been quietly accumulating gold since December 2024. Not so much of a prediction if it's going backwards, but that's okay. Um so let's look at that. But first, let me give you a quick announcement. I'm doing a live Q&A on Zoom with our viewers. That's going to be Tuesday, December 9th this year from 12:00 to

1:00 p.m. Eastern, live via Zoom. It's $20 per person and you can register at goldsilver.com/hsov. And if that URL doesn't work, if you can't register there, stay tuned. We we'll get a different URL that that does work. Just want you to be able to get this date and put it on your calendar. So if you want to ask any questions about HSOV or anything that we talk about, we can answer them face to face live over Zoom. Should be really exciting. >> Yeah. So for anybody, this is isn't just

a Q&A. You could actually, if there's not a bazillion people there, you're going to be having conversations with people. So if anybody wants to sit down with Allan and ask him some questions, this is the opportunity. >> Exactly. And this was inspired by the great experience we had at the New Orleans Investment Conference. I was talking to our viewers pretty much constantly for 4 days. It was absolutely wonderful and I basically said let's just put it in an online format nice and

intimate. So it should be wonderful. So hope to see you guys there. So has the US been quietly accumulating gold since December? Well, if we look at US gold imports and exports with the world, we can see that this big spike here that's kind of unprecedented that happened in December of 2024. And you can see a few bars here around that area. And net imports, if you if you subtract out the exports, we do have massive net imports into the United States. So it certainly could be the case that the US is is hoarding gold.

>> Um I also have done longer term charts of this going back a lot further. And if you go back before co CO isn't in here. It's a shame because there were also enormous uh bars the red bars going up and then you look before that and there's almost never a month where we are a net importer. Uh it's almost always exports. So uh this is after COVID but before CO it it's it's just almost never. uh the US mines gold and then we've got to ship it somewhere to get refined and a lot of those

refineries are the Swiss gold refineries and so it is typically um net exports. So this is highly unusual. Uh now this was when uh Donald Trump was threatening to audit Fort Knox. This was uh during a uh rush and uh I I believe COMX stocks were getting low again. Uh because the COMX is another uh fractional reserve scheme. Uh you know, 300 people dancing around the room and only one chair to sit in, the actual ounce of gold that exists on the exchange for delivery. And so they've uh changed those ratios. And

whenever they're doing this, they're getting ready for something that might happen. So, they're getting ready for a potential event. I want to point out that this chart is from July. So, it'll be interesting to see what happens over the coming uh few months here. So, >> yeah, exactly. We'll have to uh keep following this. >> Yeah. So, there was some gold inflows into the United States in July. So, show us that next chart. >> Yeah. The next one is the Comx Depository Warehouse Gold Stocks. So,

basically, this is a chart we put in the book, Mike. Uh, this is in chapter nine, which was called somebody big is getting ready for something really big. >> Yeah. >> Now, this goes back a lot further. >> Um, and yeah. >> Okay. So they basically saved the comx from a force majour and they uh stopped gold from like just leaping to five6 $10,000 an ounce uh by um having all these gold inflows from uh the Swiss refineries and from London and even from China which had never happened before. So it's like the

whole world was coming to the rescue of the COMX to keep the fraud of their fractional reserve scheme from being exposed which would have caused gold gold to just suddenly leap into the stratosphere. And what was gold's price back in 2019 and early 2020? Was it still below 2000? >> Yeah, you can see Yeah, right here. This is the 2000 line. So it just peaked above 2000 barely. Well, that's with those big inflows, but before the inflows happened, we were down at 1,700,500. >> Yeah. Amazing.

>> Yep. >> Yep. And so, you're right. There was a force majour that was prevented with all this gold and now we have another spike similar to the COVID spike where we're up at higher levels. So, >> they're getting ready for something. >> Exactly. >> Some big event, right? Okay. >> Exactly. So, getting back to our prediction, is the US government quietly accumulating gold? I mean, what we just looked at, it's not government gold, right? But we're seeing gold flow into

the United States, which is unusual. That's kind of the point. So, >> no. Um, you could, and maybe we should do this for a future video. If we, uh, get the raw data from Nick Larid of those, uh, gold flows and then deduct uh, what actually went onto the COMX. any excess that did not end up in Comx vaults could have been accumulated by the government. So, it'd be very interesting to create that. >> It would be. And just for anyone curious, if you look at any of the official numbers for gold holdings by

the New York Fed or um Fort Knox or any of these places, they haven't changed. They're all flat. And so, part of the the prediction here is that it's happening secretly. Maybe they're replenishing old amounts that aren't there. So, it's very hard to get data about those exact numbers, but it's possible that this is happening. >> And uh the you know, all of the gold that the US does have has been pledged to the Federal Reserve and is used to back Federal Reserve notes at 44 uh

22 42 42.2222 on into infinity. Uh 42 and 29th dollars. uh central banks lease gold. Period. This is a a fact and if that gold is all leased and they want to do something with it, they would have to unwind a bunch of those leases. Uh and if they unwind those leases, it causes the price to rise. So this is part of could be part of what is causing driving the price. >> But yeah, so is the government accumulating gold? Um, it wouldn't surprise me because China has been doing it secretly. They're they they report a

certain amount, but it is suspected that the actual amount is more than double what they're reporting. >> Exactly. And remember the golden rule. He who has the gold makes the rules. >> Right. >> So, I I do think that's happening. All right. Number three, the United States is executing a new bilateral soft devaluation strategy, a decentralized version of the Plaza Accord. So, let's see what that looks like. So back in March, so so kind of old at this point, there's been talk about a possible

meeting in Mara Lago for a new currency deal, sort of maybe a new monetary system or at least as a precursor, maybe just some globally cooperative uh moves to cause the the value of different currencies to fluctuate. So what happened in the Plaza Accord? Well, that was back in 1985, and finance ministers from France, Germany, Japan, the UK, and the US came to an agreement in the Plaza Hotel in New York City to intentionally devalue the US dollar. In the 5 years leading up to the Plaza Accord, the US

dollar had doubled in value. So, double in value in 5 years, threatening to upend global trade and destabilize the international financial system. So, today we could do something similar. That's kind of the idea here. So, um, just to show you what that looked like in a chart, the DXY is here in green. So, we can see that the dollar relative to a basket of foreign currencies basically doubled in value from roughly 80 to 160 in 5 years. So, that's that's a lot of value gained in a short period of time. And that basically

disincentivized manufacturing and the US had to do something about it. So they basically encouraged all these other uh countries to allow the dollar to fall in value. And so Mike, do you want to jump in here? >> Well, I remember this um uh pretty well because uh 8 sometime in 84 or early 85. Uh my father had a heart attack uh and he was hospitalized to have quadruple bypass surgery. And it was uh just before he was supposed to leave on a trip where everything was paid for. All the airline tickets, the hotels,

everything was booked uh ready to go and he was supposed to uh tour uh several different countries. And uh we were our our dollar was so strong that uh it was very profitable to be an importer. And so he sent me in his place. Now, I was young then and really didn't know what I was doing, but uh it it was interesting. I was in the Netherlands uh first and I bought a fulllength pigkin suede trench coat, beautiful trench coat that, you know, if you bought it in New York City would have cost at least $1,000. Bought

it for 27 bucks. I bought these beautiful ties for like five bucks a piece, three bucks a piece uh in in the Netherlands. I couldn't believe how inexpensive things were. But there was a mirror image of that for anybody traveling to the United States from abroad. Everything was astronomically expensive uh including our exports to other countries. And so uh this was uh needed and sort of countries it had it had gotten so that their goods were so cheap that uh compared to ours that they wanted uh

things to be devalued but um uh the the dollar to be devalued. So this was a cooperative effort where they sold their currencies and they bought the dollar and we uh sold the dollar and bought their currencies and it's all just uh you know it's a balance sheet accounting gimmick basically uh a trick uh to adjust this but what is interesting is that they started five months before the plaza accord. So actually uh they had a game plan, they started executing it and then they signed the documents. Do you

agree? >> Yeah, exactly. So we can see this this was a sharp upward trajectory in the green line and then it just turns around and goes the other way. So definitely that's when they started but then they didn't actually get together and sign the paperwork and make it official until this second line here. So So yeah, there was a gap here. >> So yeah, definitely a coordinated effort. It's not a conspiracy theory or anything like that. This is this is known fact. This is historical fact. So

this is what happened. However, uh this isn't really the setup that we're in right now. So you can see that the dollar doubled in 5 years. And the price of gold, by the way, fell by 2/3 because the dollar was so strong. And here's where we are now. The five years leading up to today, the dollar has been basically flat. So it hasn't been doubling in power relative to foreign currencies. It's flat. And gold hasn't been selling off by twothirds. it's actually basically tripled. So the setup

is not the same and the incentives are not the same. So even if the US does want to devalue the dollar and try to incentivize onshoring of manufacturing, other countries aren't on board with that. They they want to do the same thing for their their own countries. So the situation we're in now is basically a race to the bottom where everyone wants to devalue their own currencies. Not uh not necessarily. And uh you know that um that reason in your list of five predictions uh the reason said that uh

that we're trying to reach a bilateral uh accord to do this which the last one was. Uh we were selling our currency and buying other currencies and and the uh other governments were selling our currency and buying their own currency uh to uh make their currencies go up and the and the US dollar go down. But this isn't going to be a bilateral uh soft devaluation strategy. The only way it's going to happen is unilateral. The US will just make the decision to print. And print means inflation, which means

gold at, you know, this bull market isn't done. People are going, "Oh, $4,500 an ounce. Gold is really expensive. I missed it." No, you didn't. This is the beginning. Sorry. >> I agree. I agree. >> Right. because it's it's when they start uh hitting when they start typing more currency into existence because they don't print anymore. They type uh and it's going to be massive and they do want a a weaker dollar but none of the other countries want a weaker dollar.

The other countries want to keep their currency weak. So yes, it's a race to the bottom. If we start printing, they will start printing. So, it's it's whoever is able to um print the most as a percentage of their currency supply that will be able to maintain their exports. >> Yep. Exactly. Exactly. So, getting back to number three here, the US might be trying to do it, but they're not likely to get cooperation from other countries. So, >> Right. >> So, it's unlikely if that's going to

happen. So, number four, the US will revalue its gold holdings to a higher price level to support fiscal objectives. And so this idea came because the Fed actually published an article on their website back in August and everyone picked it up and there's all kinds of speculation about it. So basically with public debt at high levels, some governments have begun to explore financing additional expenditures without raising tax while also not increasing public debt outstanding. Sounds great. One

possibility is using proceeds from valuation gains on gold reserves as has been floated in the US and Belgium. Coincidentally, so what that would mean is you raise the statutory price of gold from 42.22 per ounce to current market prices, which were around 3,300 at the time, 4,000 or maybe even 5,000 by the time they decide to do it. >> I want to point out something. They were 3,300 at the time, and this is dated August 1. How fast we've gone to 4500 from 3,300. Uh it it's quite amazing. And you know

even here we had gone from 2,000 to 3,300 very quickly. >> Yeah. Just to talk about like how do they do that? Is this like created out of thin air? I mean it all is created out of thin air but but anyways here's a uh stylized example of what would happen on the balance sheet. So if you revalue it from the historic cost um you increase the asset of the gold reserve by whatever the difference is in price multiplied by how many ounces you have uh and then the government the central government account would go up by an

equal number. Okay. So the math stays the same. And if the central government were to use the proceeds, what would happen is the gold revaluation account would drop by a certain amount and the central government account would just be credited an equal amount. So that's what would happen there. It's really just a balance sheet trickeration and then the Treasury would get to spend roughly a trillion dollars at at today's um price of gold. If they do it at a higher rate, they could potentially get more than

that. >> Yeah, it's a balance sheet trick. And the operative word here is trick because they've been doing this voodoo scam. This is the monetary system. This is the way our our monetary system works is this balance sheet stuff that sort of hides what is actually happening. Uh the actual purchasing power if they increase the currency supply is going to come at the expense of inflation. So the purchasing power is stolen from the public and given to the government uh to spend by doing there's a lag time but um

also we did the calculations before and it required to this doesn't even cover the deficit because we're going to have a deficit of a couple trillion dollars. That revaluation that they uh were talking about from 42.22 22 up to which you may as it's close enough to zero to just say 0 to 3,300 bucks. Uh and that is like finding a trillion dollars uh suddenly. So you find this magic trillion dollars that comes from nowhere. You uh type these new numbers into existence on your balance sheet by

calling gold a higher price, but there's a $2 trillion deficit that year. So it doesn't even cover the deficit. They were talking about reducing the debt. No, it's not going to reduce the debt. So you go from 3,300 to 6600. Now you got 2 trillion and that offsets. So if they revalued to 6,600, that'll just offset the budget deficit the which would be the increase in national debt at the end of this year, not next year and the year after. And so you and I calculated this and I think we came out

with something like 142 or $147,000 an ounce to wipe out the national debt. Uh and that would upset the entire global economy. Plus if you try and pay down the debt and pay it off, you're destroying so this currency would come into existence and then you're uh destroying the dollars, the principle that goes to pay back the treasury bonds. Uh and so uh you know I don't know if that this would be hugely deflationary inflationary but what it will create I can guarantee is a roller coaster that will uh hit everybody. Uh

you know it'll just blindside everybody. Nobody will be able to predict what's going on. And uh um it's it's all a bad idea. And you know what? It's too late. We really should have been using gold and silver as money as the Constitution mandates. Uh for this entire time uh we've been uh the the rug has been uh pulled out from under us. The wool has been pulled over our eyes. Uh we have been tricked. This all this uh slight of hand balance sheet account accounting gimmickry gimmickry is um uh how this is

concealed that it's just a wealth transfer that's going on. So anyway, >> exactly. And to your point, any realistic number that they might pick like the market price to revalue it, it's not even the deficit for one year. It's and and then then you're out of options. Then you like you can't revalue it again. >> People don't understand a lot of people the difference between deficit and debt. The debt is the accumulated deficits year after year after year. Uh so if if

the deficit is going to be tr$2 trillion dollar just to not have a deficit and do and have no change in the national debt uh we would have to revalue gold to roughly if it was $3,300 to gain that $1 trillion. Then we'd have to revalue it to $6,600 just to offset. And they're they're talking about trying to reduce the debt uh with this. And so they they can't they're trapped. There's going to be some horrific eventually. Uh and the free market will be trying to figure this out and it will be better

than all of the politicians and the people that think they're masters of the economic universe that run the Federal Reserve and so on rushing in to save us. And every time they do something, it only makes the problems worse. Exactly. I agree completely. All right, let's do our fifth one here. Um, our fifth prediction, the US will hedge or leverage will leverage its gold to retire debt and stabilize trade relationships. We just talked about that. It's it's unlikely. Um, the numbers they would have to revalue to

are astronomical and the debt is running away. So, it seems like the only way out is inflation, probably controlled inflation if they can to inflate away the real value of the debt, >> try to grow our way out. Um, but it seems unlikely. They would have to take the price of gold to 140,000 150,000 an ounce to pay off the national debt. That's so laughable we shouldn't even consider it. It's just ridiculous. >> Or get us into uh CBDC where they've got complete control over everything and

there is no escape uh and then try and make payments in gold illegal. Um uh or allow gold to go to any price. Um, but once they've got us trapped in a CBDC, uh, they can inflate and inflate and they can, uh, steal half your wealth every month, uh, or or more, you know. >> Yeah. >> So, yeah. >> Yeah. Don't fall for it. So, the first couple predictions here seem plausible to me. Uh, the last one seem unlikely. So, that's kind of my take. Any last words, Mike, before we do our meme of

the day? I think this uh number three is inevitable except you've got to change the word bilateral to unilateral. It's going to be uh the the other countries aren't going to help us devalue the dollar. Uh the US is going to try to devalue the dollar and if they don't have the help from other countries, then the only way to do that is type. Type as fast as you can. >> Exactly. And that leads us to the meme of the day. Government has your best interests at heart and other hilarious

jokes you can tell yourself. Volume two. >> Volume two. I want to thank everybody for watching. We'll see you next time. Thanks, Alan. >> Thanks, Mike.