the market will overwhelm all of the manipulations all it takes is enough people waking up and going toward the market and once uh all of the shorts are exposed and and all of that stuff it'll explode to the upside and the people that are currently doing all of the raping and pillaging will end up on the other side of the situation hi everybody this is mike maloney and i have jeff clark and chris martinson with me again so jeff take it away you're the moderator here well it's great to be back with you


again mike and chris how are you doing i'm doing very well thanks it's great to be back with both of you guys here today yes this will be fun let's dive right into it because there's several topics i want to try and bounce off you guys the first is i did get a lot of attention a lot of feedback on the article i wrote on currency creation versus boolean production and we'll throw the first chart up there but basically i was amazed at how much currency creation the fed just the fed not even the other


countries are gonna um the fed is going to do it's gonna be 120 billion dollars per month um so i thought i'd com pardon me i thought i would compare that to how much gold and silver we produce on a monthly basis and you'll see from that first chart it's not even close we produce 13.6 billion per month in gold based on last year's production levels only 1.2 billion in silver per month again compared to 120 billion in uh currency creation so mike what what's your reaction to that it just


flabbergasted me but what do you think about that yeah it's it's absolutely amazing that uh the especially when you look at silver basically silver is running at a rate of 1 100th of currency creation and one of the things that i don't think you just covered jeff was that the gold and silver this is global production am i correct it is that is global production so it's not even an apples to apples comparison right and this is the the currency creation is only the us it's not global if you made this global


uh the silver production wouldn't be 1 100 to be what like 1 300th or 1 500th of the uh of the total currency creation that's going on on this planet uh what this chart really brings out for me is uh the the very high value of silver and how it's it currently undervalued it you can see in this chart that it should have far greater value and the day that we have monetary demand when people are going back to silver to protect their assets you know when gold reaches a certain price level and people think well that's


really expensive compared to what it was just a few years ago they're going to start rushing towards silver and that monetary demand is going to just make a huge difference i'm expecting an explosion what do you think chris i would agree i'm a big fan of all kinds of hard assets because the the currency printing that's that's a lot of fun right uh it uh gets you invited back to davos if you're a central banker and the billionaire crowd claps for you and says job well done


thank you very much all of that uh but we all know how this story ends uh you you print you print your print and eventually the claims which is what a printed currency unit is it's a claim on on what right we're talking about gold and silver but all of a sudden the psychology shifts and people say i don't really want to hold um what would just got auctioned yesterday with some sovereign government maybe austria i forget 30-year bonds zero zero percent interest like why even hold an auction like it


just makes no sense right so that nonsensical stuff continues until people finally realize and they wake up and they go wow there's way more claims than there is real stuff out there i think i'd rather own some real stuff for a period of time that's everything you've talked about for a long time mike myself as well i think we're getting closer to the time though where people um recognize that and uh do what they can to get into real stuff yeah you said it was nonsensical it'll


be the day that the public figures out this is nonsensical it's that simple yeah okay thanks guys so let's jump to the next topic and that is are we living in a completely unethical world at this point in time a completely manipulated world and i want to draw your attention to two specific articles this first one shows that several global banks were moving large amounts of illicit funds over a two decade period of time that investigation is still ongoing and then there's this other one from


deutsche bank where a spoofer tells the jury that his bosses actually showed him how to manipulate gold and silver prices and it was so common that he thought it was okay to do so mike what do you think about all these events that are happening is this just devolving into a completely unethical manipulated world or am i overreacting well i would say that it's getting worse but i would say that we've pretty much never lived in a completely ethical world that that's like a fantasy it doesn't


really exist and we took a big step down the minute the federal reserve act was passed but yes uh what these articles and and that one about um all of the money laundering that deutsche bank and and uh all of the big banks around the world have been doing for the past two decades this exceeds a trillion dollars it's enormous and they're aiding and abetting criminals meaning that these are criminal institutions themselves and then when it comes to manipulating gold and silver yes but thank god or


there wouldn't be an opportunity here very good point that's right it goes market will overwhelm all of the manipulations all it takes is enough people waking up and going toward the market and once all of the shorts are exposed and and all of that stuff it'll explode to the upside and the people that are currently doing all of the raping and pillaging will end up on the other side of the situation that's right that's a good point the market as a whole is much bigger than the manipulators are


and that so that day is coming so chris what do you make of all this though yeah you know this is equivalent to what i've been tracking in uh in all the covid stuff you know where where like fauci comes out and and in an interview with jennifer garner i guess he was a little starstruck forgot his talking points and said oh yeah i'm taking vitamin d and vitamin c of course he is and he never suggested the public should do that and i don't know how to make sense of that but it's it's in the same vein


is what we're seeing with with uh this financial scandal going on here with all the banks and everything right and so look at this though david sued head of head of research at is concilium writes there is no better mechanism in the world for laundering money than gold this is his response to this to that thing and i tweeted that right out and i said actually there's no better mechanism than corrupt banks and a lack of enforcement um for laundry money i mean gold can't even hold a dim candle but you can see them


circling the wagons it's like it's not us it's the it's honest money that's what's making us go bad it's it's not our corrupt ways you know looking like ubs gets dinged over and over and over again right you know uh you know the hsbc gets dinged over and over and over again they were taking money through windows and suitcases in mexico got caught for that right but no criminal penalties right and so it just keeps going on and on and on so so this to me is all in the context of


the fourth turning we're in the crisis turning which is all about loss of faith and institutions and all of that so yes these are corrupt organizations and and they're they're on they've they faced no legit enforcement in my adult lifetime and uh so so i think that's why we're gonna get more of it not less one of the things that gets me about this is that like at the end of uh one of the articles i read it was talking about how uh they're actually trying to go after the bitcoin people and stuff saying that


that is the uh you know the opportunity for money laundering and now you're showing me that they're blaming it on gold 99.99999 of all of the criminal activity that takes place that has a a transaction a monetary transaction is done in u.s dollars and when you're talking about those suitcases chris you're talking about 100 federal reserve notes it's the federal reserve that is the intermediary the the medium of exchange they create the medium exchange that all it isn't gold how much gold is used in


any illicit transaction that can't be one one millionth of one percent on this planet uh cryptocurrencies it might be a little bit larger but it's hard to do an illicit transaction in gold it's something that you've got locked up somewhere or in some storage account you have to get it has to be shipped uh the cryptocurrencies are a little easier but even those it pales in comparison to the transactions that are done in u.s dollars so if you want to limit the the crime that's going on eliminate


fiat currencies go back to honest money yeah right and in the end honest money will win maybe a torturous road to get there but we will get there at some point so okay thank you guys on to the next one real quick there's an interesting article from mish uh this week where he talks about the consumer mood um in the u.s in particular seems to be darkening that many people are coming to this conclusion that gee this this recovery is going to take longer than we thought it's not going to be as


quick or as robust as we thought and one of the charts i want to draw your attention to is the number of job offers that are out there in the us right now they're not increasing they're decreasing so my question to you guys is mike if it's going to take longer for this recovery and it's really settling into people that this could take a while the idea of resilience which you and chris have talked about is going to be increasingly important so uh mike you've bought a rancher buying a


ranch chris you've started a farm but what can the average person do if this recovery is really going to take a lot longer than we had hoped for well uh you know i think actually chris chris should start this one because he's got all of the different forms of capital i'm sort of a specialist in precious metals economics uh finance uh and you have to have those but uh chris why don't you take it away on all the different forms of capital that can make you more resilient during these periods


well it's no secret that i and thanks for that um intro both you guys but um i know everybody can't do what i'm doing here uh the very first thing that i think we learned from 2008 is for most people your very first form of resilience has to be around the financial capital that you have one of the eight forms and the very first thing you should do is trim your expenses way before you have to we saw a lot of people get in trouble that they lost their jobs in 2008 they thought for sure they'd get one soon


then 2009 came and they're eating through their savings and then they're scrambling you know the lesson here is that if you think your your job's in peril at all just just tr skinny everything way back you know as soon as possible so that's part one part two is everybody's got to figure out how to have multiple income streams just to stick to this one financial capital form and that's something that i'm doing here is i'm trying to figure out all the different ways to have different income


streams i've got a property that's too big for me to work so i'm inviting young people in but i'm inviting entrepreneurs in i don't just want somebody who's good at growing cabbage or something i want somebody who knows how to turn that cabbage into dollars or gold or silver or a fair barter exchange or whatever the story is and so but we have the opportunity to do lumber here maple syrup maybe they could start a heirloom seed company i don't actually care what the story is i just i'm looking for


people who can come and have that entrepreneurial spirit because i think we're going to have to scramble for a while because i actually think the dark side of this period we're in is the failure of our currency system i don't see any evidence that the authorities are going to stop until they just blow that thing up and at that point you're going to need a lot of resilience and that would include social capital living capital material capital your emotional capital all these forms of capital uh which is uh


something honestly i could drone on about forever so that's kind of my approach right now buckle up yeah you've got uh uh build a circle of friends that you can rely on right and uh you've often told people to start a garden um you know uh this is a time where people have to get prepared i believe for the absolute worst and then if it doesn't happen that's great and one of the things about a period of time like this is the safe havens are actually the things that return the that have the biggest return in


absolute purchasing power when you're buying gold silver and if it turns out that cryptos are going to be a great place to be they're going to have growth that like you've never seen it's going to make the nasdaq bubble and the bubbles that the fed has created over the past 20 years it's going to those are going to pale in comparison toward the rush that you see toward gold silver and then another uh thing is the hard assets such as land and um i was uh lucky enough i just last weekend uh sold some


properties that i had at the beach and i got what i had in them out of them and i was happy with that i just wanted to unload them uh and because they're in the city they're right in uh the middle of a tourist uh um uh uh one of the areas that the the better end area is doing the more it's going to suffer from this collapse one of the things about puerto rico that i've noticed they have had so much adversity they are used to being to having to deal without power i've had five power outages in the past


week they're used to having things shut down for a while and you know no banking system this and that and so what i'm amazed at is the number of restaurants that reopened after they closed the economy here because they kept it completely closed for like three months i expected uh you know sixty percent of the businesses are seventy percent to open probably eighty ninety percent of them reopened i was amazed uh but the knock on effects that happen you know right down right now they're


doing um uh forbearance where people banks are agreeing to put off payments on mortgages and leases for a certain number of months but then when this is declared like over with and everybody's back to work they owe their current month's rent plus the the months that they did that they were forgiven so they're going to owe all of that and they've got lower income coming in from their businesses which means they've got to cut way back on their expenditures which feeds into the economy the


expenditures are somebody else's income and this whole thing is this downward spiral that the common most commentators uh the the st the regular financial media the government they're not they're they're i think they know this and they're trying not to admit it because they'll know they know that everybody will just stop spending and start saving and and get scared if they know what's going on but i agree uh this is uh potentially total financial collapse and buying silver is something that


almost anyone should be able to do even on a low budget i think is your right mic so yeah and uh you know a little bit of gold i buy uh one ounce of gold for every 500 ounces of silver but uh somebody if they're just starting out uh might want by want to buy like an ounce of gold in a tube of silver and go from there uh gold is going to be in a crisis uh silver isn't going to be the thing that people go toward first they're going to go toward gold and so it will be in high demand it'll


be something that even if they're the currency doesn't work anymore you're going to be able to trade that gold for real stuff well that's great advice mike and chris thank you very much and by the way both of you are going to be speaking at the upcoming peak prosperity conference which is titled how to prosper in the post-covered future not how to survive i love this title it's how to prosper in the post covet future so can we get a sneak peek from each of you about what you're going to be talking


about at the upcoming conference well one of my topics will be you know the shift in world monetary system because i've been you know i wrote about that uh back in 2000 five six seven uh and i've been giving uh um presentations on it live presentations on the shift in the world monetary system uh since 2009 i believe and uh it's taking longer than i thought but it is playing out like i thought it would play out it's just sort of stretched out over time but the bigger this is in magnitude and


the more they do to put it off the worse it's going to be that's great chris what are you going to be talking about can you give us a sneak peek sure thing it's uh really pleased to be uh having this conference uh you know in a post covered world we're doing it online obviously this year and so what i like to do at the outset we have so many great experts coming in like mike just a really big list this year so what i like to do is provide the framing i talk about things in a 3e framework which is economy energy


environment that's a it's a systems view i'm a kind of a systems thinker i think there's a lot of value in understanding how these systems come together so i'll have some data from each one of those sort of putting it together that hopefully provides a some nice context for what everybody else is going to say from demartino booth and what she might say about the fed to joel salatin what he's going to say about farming right so everything fits under that 3e framework so that's what i do i like to get some


current data and make sure we're all on the same page so that everything else going on uh just fits in nicely that sounds great it's going to be exciting we're going to put a link up here that you can sign up for the conference there is an early bird discount you can get for that so uh check that out i'll be speaking there as well on gold and even some mining stock so we hope you join us there so mike and chris thanks so much for joining me again this week and we will talk to you next time thanks


and bye everyone thank you jeff it was a great conversation