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 uh very seldom uh it's it's too peculiar to be you know on accident uh that that's not our expertise at MSA we analyze markets via their momentum structural behavior uh technically in other words um but these these events are just bizarre uh and when they occur is bizarre and and how limited it is it wasn't the whole CME went down you know right it's just silver gold and oh natural gas too We can't just say it was well they were manipulating silver because natural gas got shut down too.

Well anyway um any attempt by any force whether government brokerage firms whatever to restrain a market from doing what it otherwise would do in reality uh merely compresses the explosive effect. Whereas if you hold something back and it it should have been there but you're keeping it back when you finally crumble as the enemy overruns you. Okay. Yeah. It it's probably even more compressed then with explosive behavior in the case of silver upside explosive behavior than it would otherwise be. Uh markets make errors.

Markets aren't always rational. That's a it's a false assumption. And whenever markets do make an error, you know, we we see this in bubble stock market tops for example, where the market gets overpriced for too long, like the dot top, let's say, uh and and when it unleashes, it unleashes itself even more than it probably should. You know, if one error, it goes to another. Well, silver has been irrationally in a range for 50 years from four bucks to 50 to four bucks to 50, you know. And

if you looked during that same period 1970s through uh 2011 peak and silver when it hit 50 again until now re just recently a couple months ago broke through that. Uh no other market's been restrained like that. Copper hasn't. >> Copper lived in a range from 50 cents to a buck 50 a pound. during multiple decades, 70s, 80s, 90s, 2000, and in the late 2005, it said no more. Boom. It went to four and a half bucks in a matter of a couple quarters from a zone that on average was a dollar. It's

silver still in this 50-year range, though. Lead, another exciting market. Uh 2007 did the same thing. It had been in a range for many decades and suddenly quadrupled basically in price in a matter of a couple of quarters. And once it did, it lived in a new reality of price level compared to that old reality. Well, silver on a net price basis, if you're just a stupid price chart looker, okay, you got a breakout a couple months ago, getting above 50. Okay, fine. First thing it did is go 122. Bam. Oh, more than doubled the

range. You know, the range was what? Four bucks to 50. Four bucks to 50. It was like a $45 range, let's call it. we'll add 45 bucks to 50 and it says well the swing objective would be 95 right thickness of the range added to it the orthodox well it went past that so that that notion good anymore so silver sober said no I'm not going to be confined by old rules if co if silver does what copper did in 20056 or what lead did in 2007 what gold has done repeatedly at each of its bull market peaks it goes way beyond the old

peak we project and have projected for months now that when this thing unleashes to a new reality we call silver uh it's probably going to be you know three to 500 bucks and only then would I think Eric Sprat pointed this out in an interview he did some months ago that if you factored in just the decay in the money unit and it was the increase in the quantity of the money unit M2 and factored that back to 1980 or 2011 silver well be in the hundreds just to get even to those equivalent price levels and reflect the

decay in the and the real buying power of the dollar. Uh and the fact that there might be entities that try to restrain this process and obviously it hasn't been working. We're not still in the 50s again, you know. Okay. Uh they only accelerate it and they create these boom effects. So, it wouldn't shock me somewhere down the road here in the next couple months even to see something like, you know, a couple $10 days in silver or $20 days. So, on the upside, bam, bam, bam, you know, where just gas, okay? Uh, while it

seeks its new reality, >> you know, um, Michael, I I we've known each other now for a couple years. I remember when we were talking last year and so you know gold had already taken off and silver's starting to play catchup and it was about then you started talking about you not just going through 50 but you know going through 100 and 200 and beyond these targets that you're talking about and I you know I've been preaching against this fra I call it the fractional reserve and

digital derivative pricing scheme right where you're not really trading physical metal you're you're swapping these derivatives back and forth and I and I would sit there and look and go >> I okay can see where he's coming from, but how do we get there without blowing up this pricing scheme, without making it obsolete because the metal's not there backing the derivatives? And then you get things like Wednesday the 25th and I I start to think, well, heck, maybe that's how we're going to get

there. Maybe maybe that's how it combines all of this together into your price targets. What do you think of that? >> Yeah, I these things are compression effects and they're wrong. In other words, they're not they're not they're trying to keep reality from happening. And ultimately, once the market unleashes itself, as it has, even on a net price basis, it said, "I'm not going to live in that old range again." Okay. Well, our momentum work said that before

that even occurred in price. Momentum said, "Yeah, you're accelerating." In fact, June of last year, silver was coming back up to 35 again. It already been there a couple times in late 24 and early 25, just above 35. and it dropped hard into April if you recall last year. It came roaring back up and when it was about 34 plus, we said, "Okay, this time it's different. We're going to accelerate." >> And sure enough, we went from 35, bam, up to over 50. >> Uh, and then something else happened.

And there's there's it's it's a metric we're watching that most people aren't, but we see it as a dynamite metric. And I' I've sent you some charts that make this point. You know, a lot of people like to look at a price chart. And obviously, if you if you just look back a year or two or three and what's happened, then you see this verticality and you think, "Oh my gosh, I that's I can't get in that. That's I missed it." You know, it's

>> Welcome to Gold Silver News, your go to destination for all things economics and finance. Whether you're an experienced investor, an inquisitive student, or just someone who wants to stay ahead in today's everchanging economic landscape, you've come to the right place. I've been working on a private road map for viewers who are more focused on protecting their wealth than speculating in uncertain markets. I'll share it at the end for those interested. Now, we'll

show you the best clips of the latest interview. But first, smash the subscribe button, hit the like button, and send us super thanks if you find our daily recaps valuable. Enjoy the episode. And then when we review the silver producers, that's a graph at the bottom of that page. You'll notice silver producers have broken out relative to gold producers, mirroring the breakout of silver versus gold. Conclusion, stay in the monetary metals. Be more concentrated in silver and the silver producers. I'm calculating that

in my mind. I the gold chart since the breakout around this time 2 years ago has followed. I mean, anyone can pull up a weekly chart, just a price chart, and observe it. It rises 20% and moves sideways. Rises 20% and moves sideways. Another 20% takes it to 6,000. Uh 3.1% of 6,000 is 10 what? 83. Yeah. Well, gold in its previous bull markets, by the way, it typically doesn't execute that layered pattern all the way. You'll see that intriguing uh four steps up, two steps back pattern during the bull

phase, but then abruptly in the later stage of the bull phases that carry you to the new paradigm. You move more vertical. The behavior shifts which deceives people because they're accustomed to the old layered pattern and they assume it's going to, you know, once you've made a high, you're going to remain there for four, five, 6 months. Yeah. In a band or you're going to retrace. Don't anticipate that this time if gold matches its bull market peaks of 1980 2011 in terms of the ratio

dimension of the bull market from bare low to that bull high bare low to the bull high. Those were both eight-fold advances. Gold's bare market low was a 50 in 2015. Eight times that implies I could reach $8,500 gold just to equal the dimensions of the prior two bull markets. And what's especially interesting is that we we've had this assessment for quite a few months now. Not saying we're merely going to go to 8,000 plus. That's simply the baseline. We likely go well beyond. Suddenly now

some major brokerage houses, bigname houses have issued similar projections stating, "Hey, we could see $9,200 gold JP Morgan." and they just released that uh based on certain mathematical relationships to monetary debasement and so forth and so on. But you a lot of large firms are now releasing our numbers for various reasons uh which is noteworthy. But uh I believe that this bull market advance is now in the acceleration stage where we're going to capture most of what you're going to

witness. Most of the gains you're going to receive if you're long will occur between now and Michael, what um what would need to occur? I mean, you've been on this like you said since June, restating points last year. I remember you mentioning, yeah, it's going to reach 80 by the end of the year. And I was like, my goodness, I appreciate you, Michael, but wow. And then here we were um and now, you know, so what? This is all very persuasive. And then you look at the figures for the metal and you

convert that to the producers with their leverage versus their margins and you think well I can definitely see why then the gold equities and the silver equities should be breaking out as well as a ratio. I suppose my final question is what would trigger all of this to reverse in your view to say ah you know what we're going to have to reassess this. We don't observe the technical dynamics for a peak and what we when we identify a peak and by the way we do call peaks in gold 2011 two months 3

months off the high. We said that's it. It's finished. Bare market ahead. Well, the bare market really didn't begin to unfold till 2013, right? You drifted off that $1,920 high in late 2011, slid lower, and in December of 2011, we said we're bearish, and it wandered for a year and then finally plunged. But there were causes for that, not just the price chart. There was a momentum configuration when you plotted the M annual momentum gold versus its 36-month average, for example, oscillated. You

had an eightoint uptrend line that you violated. You couldn't detect it on a price chart, but momentum said, "God, you just blew the bridge over the river." K, man. Okay. And now we said, "That's it. You're finished." And it took time to unravel. Eventually did. We don't have any comparable structure set for gold and silver right now. In other words, before you truly peak and have a substantial pullback, you know, like silver reaches 500 and then retreats to 300, let's say, probably you're going to

see momentum structures form and they're not present. Now, you haven't even formed the structures beneath the market where if you slip off the high, you're going to fracture the structure right now. Any structures we have that you could breach and review a momentum chart, say, "Oh, it violated its trend. They're not even close to the market." Understood. So therefore, we do not believe there is any significant downside risk here. They haven't formed yet, huh? Yeah. Period. Well, uh, my

friend, uh, you know, consider me a supporter. I know, Eric. When Eric and I did our year- end summary a couple months ago, he was praising the work you do. Um, tell everyone more about momentum structural analysis where they can access your research. It's oliverza.com. Olivermsa.com. request some sample additions. We describe our unconventional methodology there quite clearly. Uh it's not what you're accustomed to seeing typical price chart analysis, you know, uh and we've been practicing it since 1992. So,

you know, and we examine all four primary asset classes. Don't just examine gold and silver, although right now that is our table pounder. That is the asset to concentrate on. And I've observed Michael uh in your routine reports because you publish a weekend report and then during the week there are updates that come out uh you highlight some of these same irregularities that you notice in individual equities as well. Yeah. Now we attempt to identify the outperformers. You know anytime a sector

is as advancing or declining there going to be stocks within the sector that are outperforming the sector and underperforming or equal. And what we attempt to do is every month we filter through most of the mining symbols and we attempt to determine their relative performance to GDX for example. Which ones are performing better than GDX or not? And we chart that and we technically evaluate it. And so there are always going to be producers that surpass GDX on the upside. And that's where you you know you'd prefer to

select the stronger ones. Although frankly right now I think you could toss a dart at the entire sector and then walk away grinning widely uh in 3 to 4 months you know. So I suppose you recognize how it all interrelates. Like you said if the metals are going to continue climbing and those margins just keep expanding well the producers are back to their highs. Then why would you overlook that right? The silver producers are back to their highs. Gold producers back to their highs. So, the producers have abruptly said, "Hey, you

know, we're leaders now. We're not followers and we're undervalued relative to what we extract from the ground." Yeah, intriguing material, Michael. Uh, hopefully you've been paying attention, my dear reader. Uh, and that you bookmark this and return and listen a couple of additional times. Um, obviously, thank you, Michael. We've arrived at the end of February. I can't I mean, we're already 16th of the way through the year. They say time accelerates as you age. Michael, you

agree with that? Oh, yeah. And sometimes things become really positive. This is a This is a significant event we're witnessing here in the monetary medals. This is a once- ina-lifetime event. If your priority right now is not chasing returns, but protecting what took decades to build, I've put together a private road map linked below. If your priority right now is not chasing returns, but protecting what took decades to build, I've put together a private road map linked below. Oh.