gold news

 I want to move back slightly because you make such profound points that are obvious to most precious metals investors but uh and I know you've said it many times because you'll probably work fairly closely but I think there's three things that you say and I want you to expand on one is currency and money which I don't think we really need to talk about if anyone's quality work the difference the other ones that really strike home is the amount of funding money that's out

there compared to the 1970s bull market and the availability for the general population to get into this Market I think those are the two keys that if we don't talk about anything else uh we want the general public that's unfamiliar with medals and money and currency to understand can you please expand on that yeah well that you know that is what that what chapter seven is about uh it is the whole point of the book and the other chapters leading up to it uh are so that you understand the

current situation when you get to the point where it's explained to you that in the bull market of the 70s gold went up 25 times from its lowest intraday price to its highest intraday price silver went up 41 times from its lowest price to its highest price and that was with a very very small percentage of the planet participating to drive the price up now there are about twice as many ounces of gold above ground but in uh China under Mao and in the USSR there were no investors not one there

were no exchanges that you could buy gold on that would change that would help to propel the price up uh and it was illegal to own gold in the USSR or Mouse China and most of the rest of the world it was either illegal or there was some encumbrance or the population was so poor that they were worried about what to eat to you know how to get food tomorrow versus what to invest in uh you know I remember you remember this all the commercials back in the 70s and 80s of starving children on TV in the

Caribbean Mexico South America Africa southeast Asia it was all over the world and it was true there were children starving to death and today there are billionaires in all of those countries and so the facts are that today there are 18 times more people that can buy precious metals than there was when gold hit its peak back in January of 1980 they have 55 times more currency the there are 56 times more millionaires there are 200 times more billionaires people don't know it but there's countries in Africa that have like six

or eight billionaires in these countries same in South America southeast Asia all these countries that were starving to death now have billionaires in them uh there is uh 220 times more Consumer Credit available that can buy that people can buy gold and silver with and the uh stock market the global stock market capitalization is 49 Times Higher and um I believe the assets under management is I think it was 39.6 I don't have that data right in front of me it's not memorized yet but it will be

uh but there's about twice as many times uh twice as many ounces of gold available now a lot of those things I just listed uh are the same people uh a billionaire is the same guy that has some of those stocks that are 49 times greater stock market capitalization and he's got bank accounts and so on so uh not to double count out of anything I take all of this data and distill it down and I say there's no possible way of really coming out with a hard number here so I'm just going to take a wild

guess there's probably only about 50 times the amount of currency that can come chasing each ounce of of gold that the amount of ounces of gold and silver have doubled there's 50 times more currency therefore it's 25 times more currency per ounce that can come chasing gold and silver this time around and gold went up 25 times in silver uh 41 times back in the 70s well they had come off of of years and years and years of Crisis suppression by the fact that there was a face value on Silver because it was our

coinage and the Bretton Woods system which pegged a gold at 45 dollars per ounce of gold uh this time around we haven't had that price suppression but we have had other price suppressions and we've had it's not this isn't in the book this is in uh um I think it is my number two or three reason there's a video of the top 10 reasons I buy gold and silver and in there I show that in there was this there's this myth that in ancient Roman times uh a man could buy a suit of clothes from head to clothe himself from

head to toe toga about a nice pair of sandals uh and it's always been that way and that it's actually not true it's buried in this price range and in the Great Depression an ounce of gold at 35 an ounce could buy you a very nice suit but by the 1970s at 35 an ounce try and get a suit shoes and a belt in in uh 1971 just before uh Nixon took us off of the Bretton Woods system for 35 bucks and you had to go to like some secondhand store to do that so it's not the absolute truth but there is some

truth in that myth in that it varies in this range and right now what we've had is all of these other Financial Assets in ancient Roman times there was one place to store your wealth and that was gold and silver the coinage that was in circulation now we've got bonds and we've got stocks and we've got I mean there's a multitude we've got cryptocurrencies there's a multitude of alternatives and we have so much more stuff per person it is just Amaze mind-boggling the amount of stuff per person the

average person back in ancient Roman times was lucky if they had a good bed to sleep in and a pair of shoes to wear today we've all got cell phones and refrigerators and multiple TVs and it just goes on and on and on multiple cars uh and so if some of those alternative Financial assets to come chasing gold and silver in a world where there's 25 times more currency per ounce of gold than there was in 1980 when when it hit uh it was actually 873 dollars an ounce uh on I can't remember which exchange

that was but that was an intraday High um and it just adds up to a mind-boggling potential for a future Gold Rush and all it takes is uh the next big crisis to trigger bigger the next great gold and silver rush and I believe the FED is like in the process of actively trying to trigger that right now they may not know they're doing this but they've raised rates at the fastest Pace in history in to all of the biggest bubbles in history chapter five was all you know when you talked about bonds

that was the uh end of a list of all of the gigantic bubbles that exist and how big and how distorted the global economy is and it's all the central bank's fault when they create currency wherever that currency flows to first goes into a bubble but it's at the expense of the rest of the economy that's the reason we didn't see inflation in retail prices is energy was all being pulled over into the other assets and so anyway uh that's I want to pause you there Mike for a second I um reading chapter seven and

you went to the billionaire and I forget I know it's more in 2000 is it around 2 700 billionaires I forget now I believe it's 2755 billionaires and even that was low after the book was printed uh wealth X came out with their estimate it was just over 3 000 billionaires back so here's my point a bunch that Forbes missed I want to make this point I did either an article or a interview I forget which but you know my brain a little bit I said okay how many real billionaires are so if we were back on the silver

standard and you had a dollar it hasn't changed is about 0.77 troy ounces a lot of people think that a dollar is a troy ounce because the treasury doesn't know what a Troy that what a dollar is because they don't know what a troy ounce is right so they print they punch out a one ounce coin and put one dollar on it which is wrong the Dollar's a weight and it's not a full ounce it's 77 percent of our point being this there's roughly and you get different numbers you could take my number up or down it's

the idea that's correct four billion ounces of silver so how many dollars is that well multiply it by 1.25 that's 5 billion dollars weight of silver which means you can only have five billionaires on the planet in terms of silver that's it not three thousand I just thought that was fascinating because I think I put on my Twitter feed how many real billionaires are there and I use that example and you could comment on that or not we can move on but I just it just it re-vivifies what we have both talked about you more

than me is there's money and then there's everything else and if you look at it in terms of money there is a lot of it for your viewers uh go to ggsr21.com and read and download chapter three of the book and you'll see the difference between currency and money vividly portrayed as uh how many cans of Campbell's Soup you can buy uh for a certain for a given a quantity of currency and before 1971