hi everyone i've got jeff clark and adam taggart with me once again jeff how are you doing i'm doing great mike it's great to be back with you we have some interesting things to discuss today and hopefully some useful things too so adam we're glad you're with us too same here guys let's get started great well this first for the article today this first thing we want to bring to your attention is an article on our website we actually wrote it's called the stock market crash prep


kit for gold and silver investors and this is uh the reason i wrote this is because this is one of the number one questions we get from gold and silver investors is hey if the stock market is going to crash aren't gold and silver going to suffer too and if so should i sell my bullion and rebuy it back then so this article kind of addresses that and this chart as we show here is how gold and silver have performed during the specific time period of stock market crashes going all the way back to the mid 1970s


and you can see gold actually fares pretty well silver struggles a little bit but usually actually does better than the stock market so there's some useful information here and i give three strategies at the end that gold and silver investors can use to kind of prepare for a stock market crash so mike what's your reaction to this article here and these ideas i think you're being very modest you said that we wrote and you wrote this article and it's a great article it's good analysis


uh one of the things that you know it shows how well gold does it doesn't show silver doing as well but one thing i want to point out to everybody all of the viewers is that this is the spot price that's based on the commodities exchange and you do mention that premiums soared during this period of time now i was on i was speaking at an event uh at marco island florida when the bottom of the 2008-2009 crash happened and uh it was i believe in uh october that the markets that gold and silver bottomed and then


uh the stock market did not bottom until the fall until the following march so it kept on crashing for a long time they both fell and then precious metals reversed and took off like a rocket while the stock market kept on falling for quite a while but on the day that gold and silver were bottoming and silver was below nine bucks it had crashed from 21 down to below nine and uh i was putting together my presentation and one of the things i did was i went to ebay and snapshotted a bunch of gold and silver eagle


offers now my hard drive crashed after that and my backup system which was this max door one touch drive uh it hadn't alerted me that it had failed three months before and uh about two or three months after this event um my hard drive developed a problem and it scraped all the material off of the drive and was not recoverable but i wanted that presentation so bad because uh silver eagles were being offered at 35 on ebay i heard from a friend that was an investor that went into a dealership in chicago


and 100 ounce bars were going for 18 an ounce while silver was below nine on the commodities exchange so all of these uh the the yellow boxes here on silver most of those when you're talking about physical were actually green boxes and the uh the one green box that says 1.1 that was i mean hugely north because that's the crash that i'm talking about uh the the premiums just exploded uh much larger than uh what you've got recorded in the in the article here but i don't have i wish i had this


presentation so i could show you the snapshots and stuff but this is a great article and it's true and we have to get ready for what i believe now is going to be just an implosion and the further they pump this thing the further the bigger the implosion is going to be because there's nothing behind our monetary system anymore it is air and you look at what we what they've done is it's crisis after crisis after crisis and with each one of those crises the uh monetary system goes from


something that has some sort of foundation to it to just air and the federal reserve is just this giant fan this blower that is turning the wind up and down and then we get to hurricane speed once in a while but you take a look at what just happened i mean uh alan greenspan reduced rates ben bernanke created uh just a whole bunch of currency and we haven't stopped doing that we're still doing it 1.9 trillion dollars just passed and then on top of that there are no reserve requirements the banks can create unlimited


quantities of currency based on loans they just have to make sure their balance sheets uh are okay to where they've they have enough performing loans so that they don't get into trouble otherwise they make up currency from nowhere based on your signature or anyone's signature and when you look at the levels of debt that the world is taking on this is just a recipe for disaster that's my two cents you're it's a great yeah adam what do you think uh sell your bulletin because the stock


market might crash and rebuy it later what do you think of that strategy i think yeah pretty much the opposite of that um so first off yeah i was going to say man whoever wrote that article what a brilliant writer um but secondly uh you know i just want to point out the dynamic for folks and mark it might give a quick nod to this but um what tends to happen especially in these sharp severe market drops is that all the players who are long get caught by surprise and uh at that beginning they're getting


all into all sorts of trouble and uh oftentimes they're getting hit with what are called margin calls where um they they are forced to cover positions that have been losing value very quickly and in that case you're you're you're forced to start selling what whatever assets you have that have still retained value to meet those margin calls and precious metals fare quite well at this point in time and so they start getting force sold because these guys are just having to liquidate


whatever they have and that usually does bring the price of the precious metals down but it's usually very temporary until those margin calls start dissipating and then the capital that's left rushes back into the precious metals for safety right so there is this oftentimes a little bit of a dip but then it comes generally roaring back and we've seen that in a lot of the in several of the past really big price drops and so what you don't want to do is sell your precious metals beforehand


um you know have this dynamic happen and you really don't have time to to play it exactly and if those precious metals bounce back up you're very likely going to be selling beforehand at one price and then buying back in at a much higher price and that's just talking about the paper part and then mike mentioned what happened to the premiums so you really don't want to put yourself at risk of really missing the great opportunity there you've got to be positioned beforehand very good point adam that does


frequently happen in waterfall declines of stock market crashes so uh i can tell you that all three of us oh go ahead and add one quick comment here when when it comes to the portion where you say so what should we actually do the plans i mean i do all of the things i hold i don't i don't sell my precious metals build cash i have done that right now i've got a bunch of cash sitting on the side uh waiting for premiums to come down and waiting for the a potential uh crash but if you wait for the bottom


you'll see those premiums explode once everybody starts rushing in and then dollar cost average i've been doing that for a long time so i i i follow exactly what you wrote here yeah there's some good strategies there everyone so check them out see if they're useful to you i can tell you none of us will be actually selling because uh precious metals may temporarily go down in a stock market crash but see if that information is useful to you so well on to tweet of the day here and


this is one that we all talked about uh before we came on the air here that we feel is important enough uh in light of current events that we actually want to read this to you this is an ann rand quote from her book atlas shrugged and this tweet is from uh seth meister when you see that trading is done not by consent but by compulsion when you see that in order to produce you need to obtain permission from men who produce nothing when you see that money or currency is flowing to those who deal not in goods but in favors when you see


that men get richer by graft and by pull than by work and your laws don't protect you against them but protect them against you when you see the corruption being rewarded and honestly becoming a self-sacrifice you may know that your society is doomed again that's a very true and rand quote and mike i'm sure you have a reaction to that quote in relation to where we are today well this comes from the money speech it's called in atlas shrugged ein rand's uh masterpiece that took her i believe


14 years to write when you read atlas shrugged for the first hundred pages you're going oh my god this is boring it is such a slog it is so outdated why am i reading this dumb thing and then right about page 100 this hits you now this was so important that i actually did a whole video about this and this particular section which uh comes toward the end of the uh this is about five pages uh francis dianconia uh francisco d'anconia is uh at a party and uh he overhears somebody saying that oh you know money


is the root of all evil and then he gives this amazing speech and when you once you've read that sp speech you realize that a medium of exchange but especially money which does not leak currency does leak but a medium of exp of exchange is one of the no most noble creations of mankind it allows us to deal with one another without killing and stealing from each other uh this is it gives you a reference reverence for money i have a contempt for currency but a reverence for money and when you get to the money speech you


just go oh my god this is the reason i'm reading the book and it just sucks you in and you've got to finish this like 1300 page book or whatever it is once once you read this maybe this happens at page 400 i can't remember it's a long way into the book but this is very important we'll put a link up here with the video uh going back to the video that i made several years ago reading the money speech and it's something that everybody should hear so adam have you got any comments on this


uh quote well i've got lots of comments because uh you know the book featured uh my great aunt dagny right and as a current shareholder in taggart transcontinental i've got a big stake in this story um but no just a couple quick things so ayn rand um she fled soviet russia when she was very young literally fled illegal border crossings getting shot at by the communist guards and obviously a lot of her writing was influenced by the evils of communism that she grew up under right and she talks a lot in this book


about the there's two classes of people they're the producers and they're the looters and the whole story of atlas shrugged is the looters taking and taking and taking forcibly what the producers are are making and at some point the producers just go on strike right and it's scary if you read that book today because you're going to see an awful lot of parallels in today's world where you know those that are trying to create value um are are just getting um set upon by the parasites of the


looters and um you know i live in california and we're seeing that in real time right now where with all the taxes all the regulations et cetera we are seeing our productive class flee to where they are better treated you know they're going to texas they're going to puerto rico i mean mike you had a company that was based in california left you know this story right so this is really playing out in real time yes it is uh it's it's sad really sad to see because all of this has been predicted


it's all mapped out we're just following this this playbook uh and uh you know if for all the viewers out there go and watch the money speech it is something that you need to know and if you haven't read atlas shrugged it's it's still very worth a read because it sort of maps out everything that has happened and is going to happen and uh jeff i believe uh we've got a couple of tweets here that sort of tie into this yes mike here's another quote uh tweet from michael bury cassandra which


is michael bury tweeting and getting in the news lately apparently has caused the sec to pay us a visit lovely what do you think of that mike yeah well you know this is the men of the bureau the regulators the people in atlas shrugged that slow everything down stop business from happening uh it's exactly the people that uh francis the anconia is talking about in the money speech and here uh michael bury uh made some tweets saying you know and he was he was right about the uh 2008 crash and and he made these huge bets against


it suffered tremendous adversity you need to watch the big short if you haven't already seen it and you'll see what he was up against to try to make sure that all of his customers his his uh clients that were letting him manage their uh their investments uh he made sure that they all ended up with a profit but they all wanted to abandon him thinking that he went through tremendous adversity but he could see the future and he could see it very very clearly and he said something about it he made


his bets on it and he was right and here now he says that we may have hyperinflation in our future and the men of the bureau show up on his doorstep to shut him up the tweets that he had made about hyperinflation have been removed so some of his tweets have been taken down uh adam you had some uh theories on that what do you think was going on adam yeah i actually think my theory proved to be right um where i had said that uh those those tweets may have been taken down um by nervous compliance officials in his firm


fearing that they might get them into hot water and it looks like they were exactly right they take the tweets down a few weeks later knock knock knock there there's regulators at the door so yeah just underscoring everything you talked about mike from the atlas shrugged which is the the heavy hand is pressing further and further on those trying to tell the truth yeah great input guys the next is chart of the day and this chart is from crest cat capital uh this was out last week i passed it


around you guys we wanted to talk about it today real quickly but it shows trading volumes in the us all u.s exchanges plus all the various uh pink sheet and over-the-counter volumes as well and millions of shares and you can see that it fluctuates between oh about 1 and 4 billion there until this year and you can see how trading volumes in the us on stock exchanges has just completely exploded historic highs what's your reaction to that mike uh this is just another indicator that we're in the greatest uh


stock market bubble the greatest paper bubble that the world has ever seen we've got a blizzard of paper and a tiny little pile of gold and silver that it's one one day it's going to try and land on that and kryptos and this is to me this is another one of these indicators that says run for your life what do you think adam absolutely history is replete with this chart right it's an exponential chart uh it is by definition unsustainable every bubble that we've seen has looked


like this before it collapsed upon itself um i just i i think it's easy at this point to make the call this is not going to end well well on to some reader feedback and this is madison says would you do a video on standards of living for today compared to the 1950s at the time you were born that would be really interesting that's a great idea mike uh but you've kind of already done that haven't you uh yeah well i have and one of the things that people don't realize is that today our standard of living is


as high as it's ever been the the uh the there is a lot more prosperity however back in the 50s it was distributed a little bit more evenly than it is today our monetary system uh this wind that i'm talking about that the federation you know because it's all based on air there's nothing there anymore there are no reserves there's no foundation it's nothing and the federal reserve and the world's central banks just dial the wind up and down but it's just this stuff


that's being created it flows into the uh the the economy and when it does it when whenever central banks and the banks create currency from nothing it gets its purchasing power by stealing it from the currency that exists it enslaves future generations and uh and it causes a wealth transfer from the poor in the middle class to the ultra rich whoever uh it has their um the the majority of their net worth is determined by paper assets uh whatever assets the currency flows into when the central banks create it and


when the banks created those assets go up other things uh uh you know the the purchasing power from the currency that's in your bank account uh is stolen if you don't own those assets that are rising everything else is just getting more expensive from your point of view from other people people's point of view that own all of those assets they're getting wealthier and wealthier and so uh um i have done this everybody's uh you know all uh i've got some charts on this but all of the different income groups


the poor are getting richer the middle class are getting richer the rich are getting richer faster than everybody else and that is caused simply by capitalism and then the socialism and and redistribu distribution of wealth is causing the uh inequality the the huge uh gaps between wealth but uh you know your average poor person back in the 50s uh barely had enough to eat they lived in a shack with no indoor plumbing and no no electricity and today your average poor person has a cell phone we are all getting richer just at


different rates and the the difference is caused by the central banks and our banking system that's based on vapor adam got a comment yeah real quick um i agree with everything you said michael though i think that um we we are that that prosperity is being increasingly poorly distributed uh as time is going on uh today and i just want to give a quick um nod to it interview i just did last week with ed butowsky who publishes the chapwood index which sort of like john williams's shadow stats attempts to be a much more


realistic measurement of the increase in annual cost of living and he tracks it for the 50 largest metropolitan areas and he calculates it's around 10 percent when you factor in all the things that people really spend their money on um and you compare that number 10 percent to the cpi which the government publishes which basically says the cost of living has grown less than two percent uh every year for the past 10 years so those are hugely different numbers and the problem is is that wages are


increases in wages are based upon the government cpi so wages are not increasing nearly as fast as the underlying cost of living so the middle class is just getting squeezed and squeezed and squeezed which is why we've gone from back in the 50s where you could have one wage earner support a middle class lifestyle to then we needed two wage earners to do that so now we need two wage earners with multiple jobs to do that you were having to run faster and faster just to stay in the same place yeah true and that's


the reason i call it the cp lie not the cbi the cp line i came up with my own measurement of inflation when i was writing my book i was on the uh the government's websites and so on and when you go to social security and these other places you see all the different ways that they calculate inflation and they have dozens and dozens of them and they've all got uh different acronyms from for them and so i came up with my own it's pretty simple it's i call it cup inflation c-u-p-p currency units per person and


i have a feeling the chaplet index uh much more closely tracks my cup inflation it's real how many what's the size of the population how many units of currency do we have and you can sort of predict if if you were able to take everything into account is savings inflating is the stock market inflating you know they're only tracking certain things they don't include the stock market in inflation but where are the dollars that they're creating going and uh so if you took everything into


account uh in society you would see probably an exact match to cup inflation yes very good by the way uh it is hidden secrets of uh money episode six toward the end of that video where mike talks about this comparison and uh the difference in the standard of living between that and today so you can check that out we can provide that link to that video it's also on our website so well thank you guys we're gonna wrap this video up with the meme of the day remember if you've not read mike's book


you can do so for free we'll put the link below here so uh well mike what is our move of the day well actually there's a quote that i want adam to read first and then i'm going to show you the meme all right i'll get through this as quick as i can um the quote is from a 17th century historian alexander fraser titler a democracy cannot exist as a permanent form of government it can only exist until the voters discover that they can vote themselves largesse from the public treasury


from that moment on the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy always followed by a dictatorship the average age of the world's greatest civilizations has been 200 years these nations have progressed through this sequence from bondage to spiritual faith from spiritual faith to great courage from courage to liberty from liberty to abundance from abundance to selfishness from


selfishness to apathy from apathy to dependence from dependence back into bondage and i gotta say mike that feels like the it's mapping the trajectory that we're heading through at this time of history absolutely and so i want to go to this meme and this is a modified uh meme we've seen this this meme before but somebody uh replaced uh weak men and strong men with capitalists and socialists uh or you know they replaced strong men with capitalists and weak men with socialists hard times


create capitalists capitalists create good times good times create socialists and socialists create hard times and it just ties so well into the quote that you just said thanks you know at some point mike we're going to have to get um neil howe back on to talk about fourth turning because that's exactly the type of material we're talking about here well thanks adam and thanks mike for joining us you guys thanks everyone for watching and we'll see you on the next video see you later jeff and adam take care


guys was fun as usual