hey everyone welcome to bald guy money I am bald guy and on Friday we got confirmation that as of February 1st so yesterday the United States will Implement tariffs of 25% on Goods coming from Canada and Mexico as well as 10% on Goods coming from China now there are of course many consequences to these tariffs and not all of them are necessarily bad for the United States but one major Market reaction we've seen as a response is a massive gold and silver importation effort by dealers mints Banks and the comex to get
precious metals into the United States before the tariffs become official draining a lot of gold and silver out of the global market specifically the lbma which stands for the London bullion Market Association which has acted as an official Global Hub for precious metals since 1987 but has Origins going all the way back to the 1800s now I know many of you have heard about what's going on but I also know that not everyone fully understands why these tariffs have such a massive impact on the precious metals
Market but as you can see here and this is just one layer to the story and I posted this on X back on January 26th the largest silver Miner and producer in the world is Mexico in fact they produce 6.3 times more silver in Mexico than in the United States and with a 25% tariff on things coming out of Mexico into the United States that silver just got 25% more expensive I to import at least for now and although you might be thinking this could become a problem for industry in need of silver and maybe an
inconvenience for silver stackers who will be chasing less supply of cheap American silver with the same amount of US Dollars which will drive prices up and potentially premiums up as well the real problem is for banks who have large short positions on Metals so banks that are betting against metal prices because the cost of covering those shorts or buying back the silver once they want to close the bet against it could potentially increase by 25% and this not only applies to Silver it also applies
to gold as a result of these tariffs and this is really one of the major factors that has been driving a shift of gold and silver stocks so inventories out of places like London and into the United States creating what some are calling with the stock market looking Poise to roll over a perfect storm for precious metals prices to significantly increase over the next 2 to 4 years now this is an extremely complicated topic it has multiple layers to it and no YouTuber out there is qualified or fully informed
to talk about all of the things that are happening especially behind the scenes when it comes to this gold and silver drain the supply crunches that we're seeing and the impact that tariffs are going to have on future gold and silver prices so instead of trying to connect the dots to create a picture of what's going on for you all I went straight to the source this week and I met with Josh fa who is the founder and CEO of the Scottsdale mint we sat down together in Berlin Germany at the world money fair
and discussed If there really is a gold and silver shortage on the market right now or if this is just more of the same nonsense about shortages that we've been hearing for years now we discussed if shortages are disproportionately impacting one precious metal over the other then we talked about commercial Banks and the impact this is having on their short positions with the cost of borrowing metals Rising right now and we finished the discussion on the topic of the market top for metals and I asked
Josh if he thinks we are closer to the market bottom today or if we are closer to the top now just before we dive into the discussion if you're taking action and staying on a purchase schedule as prices move up please remember to go to www.summit.com they have everything you need from incredible prices on one10 ounce Krueger as you can see here for less than $35 per piece as well as a promo price on the popular 2 oz Scottdale mint stackers and while you're there remember that firsttime customers
still get 5 ounces of silver at spot by using Code new customer and I will leave the links to those great deals from Summit medals in the video description below but without any further Ado here is my conversation with Josh fa of the Scottdale mint hey everybody Welcome to bald guy money and I've got a really special guest today this is Josh fa he's the founder and CEO of Scottdale mint and this is a guy who's not only really in the know about what's going on in the precious metals business and Community
but he's a guy who's really in tune with finance and Mining and you know we're really seeing prices in gold and silver take off Josh right now and uh I think we're seeing a lot of news that people are worried about the supply being crunched people are talking about shortages at the lbma and so on I want to ask you are people making too much of this because you know in the precious metals Community we've been hearing about shortages they're going to run out for for years and years now but is this
the real deal is this is this really happening uh I I think uh if anything we're maybe under uh paying attention uh the Market's just now I think waking up to what's happening um it's it's not so much a shortage of of metal but is it in the right form with the right brand in the right location and right now metal is moving all over the world to where it's treated best this has been going on through with the brick countries have been pulling insane amount of gold uh essentially out of a lot of the banks
quietly out of out of London uh that's been going to China in particular and a few other countries and those Central Bank buying are record levels We Have Been Under reporting that uh as a media uh and now with the Tariff risk now facing uh precious metals in just we've never we've never seen this amount of metal move this fast uh out of certain jurisdictions and and into the US Okay so we're hearing about gold shortages at the lbma their delivery time being extended now from usually just a couple
days to now 4 to 8 weeks is this problem disproportionately hitting gold or is this a problem we're seeing with silver as well and is that maybe not yet fully reflected in the the in the spot price yeah uh both so it's not really reflected in the spot price at all uh really this is this is purely in What's called the efp exchange for physical uh premium so that's that's where that's essentially going from a paper contract into the into the raw material so this is at the bank level so we l uh we
closed out Friday um just yesterday over a dollar premium extra over the paper price uh for you to get a a comx deliverable brand so what's happening is uh the banks are buying that raw material all over the world and they're getting it to the states as fast as possible before the tariffs May or talking commercial Banks or central banks we're talking uh commercial banks at this level got to remember though those commercial banks are the ones feeding the central banks uh so it's it's there's not many players in the
world I'd say there's less than 10 uh at least in in North America that are that are heavy or active in both uh both North American and and London Market traditionally you know after World War II you know Bank of England was really set up as the gold that's where all the gold was settled that's where it was at and you know obviously London has has is not with the EU uh after brexit uh it didn't did you know kind of split from from that Center there's not as a lot of industry in the UK uh that's consuming
precious metals it's almost as if and I think there's going to be a new term called repatriation oh okay is repatriation happening and the answer is yes I mean Germany asked for its gold back uh you know a number of years ago and it's been going pretty slow uh China is pulling metal into their again jurisdictional uh it looks like we're bifurcating the world you got the brics Nations right and you got the others everyone is it's a global arms race uh to where to get that that physical gold
and silver and right now the US is is starting to kick some uh pretty high gear here where it really started in December just incredible amounts of metal was flown on airplanes and you got to remember gold is quite heavy just think on a commercial uh on on a passenger plane you could put about four tons of gold that's flown a lot of people have no idea how much gold is flown on just regular flights uh but during Christmas season those planes are full so you're competing with cargo and passengers for weight so this started
into the Christmas season in just the amount of gold that's coming into the United States really on the on the daily right now uh and then Trump just announced you know tffs and we're about to find out more at least on Canada and Mexico and that was confirmed yesterday from what I saw and saw an immediate spike in the dxy index so the US dollar Index but you really didn't see much of a softening in the prices of precious metals the gains that they had they had both gold and silver had put in for the
week still held up it was a positive week for both medals uh Gold's an alltime high so it's probably again I I I don't know where we're going to be shortterm uh but yeah I I I think this could be going a lot higher uh because again uh as as markets are clamoring for the right metal in the right in the right locations uh this is not and it's not just in Precious Metals right now this is impacting Industries all over the place it's just that the precious metals are so uh it's it's the value is
so high and so big it's starting to get get attention but this has been really under reported until just recently like the last week or two what do you think that is people don't see this uh and the retail Market's asleep cons consumers do not know what's going on uh if anything they've been selling their gold and silver really worldwide uh but you know thinking hey it's kind of high let let liquid I'm going to buy it back at a lower price right and the opposite is true so a lot of this a lot of this
metal is being sucked out of the I call it the retail consumer's hands and it's going to the banks and the banks are then melting down a lot of that uh consumer consumer retail product turning it into an lbma or comx deliverable brand and they're putting it on in the exchange or uh or covering some of their shorts as well do you think this is being accelerated by a loss of faith in Fiat currencies as a reserve since obviously not only the 2008 financial crisis when we saw central banks become
net buyers again in 2010 as you know I I think they lost faith in the US Dollar's ability to be properly managed but also since covid when the money supply around the world for basically all Fiat currencies exploded at record Paces yeah there there's no doubt um I'd say faith in government has probably never been lower uh so everything's being stressed uh it maybe it may have been completely broken a long time ago I think not only not only did we see the monetary Supply expand after after covid uh but we also
saw some really big impact of what happened with the Ukraine war so when central banks uh and other nations start to seize assets of other countries uh whether that was right or wrong the other countries start paying attention so I think what's happening is the brics nations are are really looking at it going well uh if we can get kicked out of Swift and we can't use the banking system or we can have our assets seized in other we've never seen this in the modern modern history they're trying to
create a competitor to the US dollar and this is why now Trump is really pushing back quite hard he tweeted before before Christmas uh warning the bricks don't back a new currency he didn't say with what but I can tell you what it is it's gold um he said something again just this week on X um so I think there's there's a big there's a big deal so this actually this repatriation this is going to be a new term that you're going to hear about why is the metal is the US Government even
may be involved in this and this is I'm going to throw that out there this is not being uh discussed a lot uh we just put out a report on on scotts.com on our website that's kind of talking about this is is the United States government itself possibly involved in bringing some of its gold that it might have had in Europe uh I think you're quite aware obviously the US is swinging politically uh to to a much more conservative uh more traditional uh the UK is not right and so that there's kind of a trend within Europe um
who's going to kind of follow the path of the United States um I had a friend joke uh can you make the UK the 51st state before Canada uh I I I chuckled but the reality is is I think there's going to be kind of a battle between economic powers and you're either going to be part of team Team USA and call it the re the reorganization of of of Finance um is going to be quite interesting here going forward for my viewers definitely check out the Scottsdale mint website remember that all Scottdale mint products are also
available at Summit metals.com which is fantastic Summit Metals has a great relationship with Scottdale mint but you know for the people who are looking at this and and watching this video and saying okay you know prices are a bit high does that mean I should remain on a buying schedule I would like to ask you what you think the impact of these tariffs which again Trump has confirmed I mean today is Saturday where it's early morning we're here at the world money fair in Germany so it's not you
know quite Sunrise yet in the US but once the sunrise those tariffs are in place what impacts tangible impacts is that going to have happen have sorry on the prices of precious medals for the regular people who are watching this video right now yeah the I'd say the value of metal could could overnight go up a lot so it's it's I don't really view it as a uh a negative for price if anything it's going to it's going to cause the metal prices to go up in the event there's an exemption for
precious metals um with the Mexico Canada things might ease and so in that case maybe maybe Metals kind of ease back a little bit um but if there is no exemption for silver in particular uh but also gold coming out of Mexico and Canada this is going to be impact very impactful because Mexico is the largest Miner of silver in the world in the world biggest producer uh the biggest importer of silver into the United States us Imports roughly 80 82% of its of its silver consumption every year from foreign countries so if I can just
stop you there does that mean with a 25% tariff that we could expect the market price of what silver is selling for to go up 25% well what's going to happen in the short term the United States uh importers and my company included is going to try to buy metal that's not so we're talking incredible dislocation so instead of instead of uh importing from Mexico right people are going to be going all over the world and that's why you're seeing the the the supplies in in the UK dwindle because right now there
is no there's no uh tariff um threat in in the immediate um but we're hearing talks about un tariffs uh meaning all countries so what would that look like even major producers like kghm out of Poland would be subject could could be all of them yeah and my company uses a lot of their silver uh so yeah I would say almost like when you show up at a gas pump um in the US and other places it's usually all in like your taxes all in uh the you the especially Europe Europe your prices taxes are included
you're you're looking at clothing when you're at a rest at a a store yeah whereas the US kind of breaks it down and so it's possible that we may get just a new kind of pricing mechanism that that especially let's say in the United States silver and gold might be just let's call it tariff inclusive uh so this this would say it's going to be a pressure of of prices going higher uh definitely in the short term and long term okay so then looking at the situation would you say right now in the
metals market for people who are really uh a little bit guny and they're saying yeah you know prices are high again I don't want to buy do you think we're closer to the bottom of the metals Market when it comes to Fiat pricing or do you think we're closer to the top right now considering the big moves we've made up over the last year yeah obviously silver and gold did move up pretty nicely in 24 so I don't know I wouldn't look at it so much if we closer to the top or the bottom
it's like where we where are we going if you're not in and you're not you don't have your bags packed to the level that that you want we're about to enter a a new a new phase in the market this should be an incredible Drive uh driving force here uh through this decade you know they're talking about you know you hear terms about great reset what does that mean and I think we can all kind of agree that it's at least there's a monetary uh need of some sort of reorder
some sort of reconfiguration and is gold going to be part of that um is silver going to be part of that we just saw uh Russia put out their their draft um uh Finance uh review budget for 2025 and they're talking about adding silver their balance sheets and no again very few people are talking about this there's not enough silver world for central banks to say hey let's put 1% in uh it would suck it all up so here we are faced with uh I call it the tech movement AI is going to consume a an
incredible amount of silver so we're silver Institute just put out a report this week we're running going to run another deficit and so that means there's less new freshly mined silver being consumed than we're cons sorry being produced and we're consuming so that means stock uh draw downs and so this has nothing there's no assume no investor hoarding or going into it uh this could get pretty Rowdy if if investors uh actually step back in retail's been dead it's probably been
and I mean by Dead uh it went it went boom right investors clamored for the metal after the co the co drop uh in 2020 and they've been piling in you know 21 22 uh 23 and then we've seen it kind of cool off in 24 so I don't think um we've really seen the fireworks show yet well guys listen if you're interested in what Josh has to say follow him on X he is on X now since two weeks right two uh two weeks ago I even got a shout out on the Alex Jones Show last night I had no idea so this is kind of yeah kind of
interesting what's going on follow on X and obviously check out the Scottdale mint products also available at Summit medals Josh thank you so much for sitting down with me man absolutely thank you cheers brother
hey everyone welcome to bald guy money I am bald guy and on Friday we got confirmation that as of February 1st so yesterday the United States will Implement tariffs of 25% on Goods coming from Canada and Mexico as well as 10% on Goods coming from China now there are of course many consequences to these tariffs and not all of them are necessarily bad for the United States but one major Market reaction we've seen as a response is a massive gold and silver importation effort by dealers mints Banks and the comex to get
precious metals into the United States before the tariffs become official draining a lot of gold and silver out of the global market specifically the lbma which stands for the London bullion Market Association which has acted as an official Global Hub for precious metals since 1987 but has Origins going all the way back to the 1800s now I know many of you have heard about what's going on but I also know that not everyone fully understands why these tariffs have such a massive impact on the precious metals
Market but as you can see here and this is just one layer to the story and I posted this on X back on January 26th the largest silver Miner and producer in the world is Mexico in fact they produce 6.3 times more silver in Mexico than in the United States and with a 25% tariff on things coming out of Mexico into the United States that silver just got 25% more expensive I to import at least for now and although you might be thinking this could become a problem for industry in need of silver and maybe an
inconvenience for silver stackers who will be chasing less supply of cheap American silver with the same amount of US Dollars which will drive prices up and potentially premiums up as well the real problem is for banks who have large short positions on Metals so banks that are betting against metal prices because the cost of covering those shorts or buying back the silver once they want to close the bet against it could potentially increase by 25% and this not only applies to Silver it also applies
to gold as a result of these tariffs and this is really one of the major factors that has been driving a shift of gold and silver stocks so inventories out of places like London and into the United States creating what some are calling with the stock market looking Poise to roll over a perfect storm for precious metals prices to significantly increase over the next 2 to 4 years now this is an extremely complicated topic it has multiple layers to it and no YouTuber out there is qualified or fully informed
to talk about all of the things that are happening especially behind the scenes when it comes to this gold and silver drain the supply crunches that we're seeing and the impact that tariffs are going to have on future gold and silver prices so instead of trying to connect the dots to create a picture of what's going on for you all I went straight to the source this week and I met with Josh fa who is the founder and CEO of the Scottsdale mint we sat down together in Berlin Germany at the world money fair
and discussed If there really is a gold and silver shortage on the market right now or if this is just more of the same nonsense about shortages that we've been hearing for years now we discussed if shortages are disproportionately impacting one precious metal over the other then we talked about commercial Banks and the impact this is having on their short positions with the cost of borrowing metals Rising right now and we finished the discussion on the topic of the market top for metals and I asked
Josh if he thinks we are closer to the market bottom today or if we are closer to the top now just before we dive into the discussion if you're taking action and staying on a purchase schedule as prices move up please remember to go to www.summit.com they have everything you need from incredible prices on one10 ounce Krueger as you can see here for less than $35 per piece as well as a promo price on the popular 2 oz Scottdale mint stackers and while you're there remember that firsttime customers
still get 5 ounces of silver at spot by using Code new customer and I will leave the links to those great deals from Summit medals in the video description below but without any further Ado here is my conversation with Josh fa of the Scottdale mint hey everybody Welcome to bald guy money and I've got a really special guest today this is Josh fa he's the founder and CEO of Scottdale mint and this is a guy who's not only really in the know about what's going on in the precious metals business and Community
but he's a guy who's really in tune with finance and Mining and you know we're really seeing prices in gold and silver take off Josh right now and uh I think we're seeing a lot of news that people are worried about the supply being crunched people are talking about shortages at the lbma and so on I want to ask you are people making too much of this because you know in the precious metals Community we've been hearing about shortages they're going to run out for for years and years now but is this
the real deal is this is this really happening uh I I think uh if anything we're maybe under uh paying attention uh the Market's just now I think waking up to what's happening um it's it's not so much a shortage of of metal but is it in the right form with the right brand in the right location and right now metal is moving all over the world to where it's treated best this has been going on through with the brick countries have been pulling insane amount of gold uh essentially out of a lot of the banks
quietly out of out of London uh that's been going to China in particular and a few other countries and those Central Bank buying are record levels We Have Been Under reporting that uh as a media uh and now with the Tariff risk now facing uh precious metals in just we've never we've never seen this amount of metal move this fast uh out of certain jurisdictions and and into the US Okay so we're hearing about gold shortages at the lbma their delivery time being extended now from usually just a couple
days to now 4 to 8 weeks is this problem disproportionately hitting gold or is this a problem we're seeing with silver as well and is that maybe not yet fully reflected in the the in the spot price yeah uh both so it's not really reflected in the spot price at all uh really this is this is purely in What's called the efp exchange for physical uh premium so that's that's where that's essentially going from a paper contract into the into the raw material so this is at the bank level so we l uh we
closed out Friday um just yesterday over a dollar premium extra over the paper price uh for you to get a a comx deliverable brand so what's happening is uh the banks are buying that raw material all over the world and they're getting it to the states as fast as possible before the tariffs May or talking commercial Banks or central banks we're talking uh commercial banks at this level got to remember though those commercial banks are the ones feeding the central banks uh so it's it's there's not many players in the
world I'd say there's less than 10 uh at least in in North America that are that are heavy or active in both uh both North American and and London Market traditionally you know after World War II you know Bank of England was really set up as the gold that's where all the gold was settled that's where it was at and you know obviously London has has is not with the EU uh after brexit uh it didn't did you know kind of split from from that Center there's not as a lot of industry in the UK uh that's consuming
precious metals it's almost as if and I think there's going to be a new term called repatriation oh okay is repatriation happening and the answer is yes I mean Germany asked for its gold back uh you know a number of years ago and it's been going pretty slow uh China is pulling metal into their again jurisdictional uh it looks like we're bifurcating the world you got the brics Nations right and you got the others everyone is it's a global arms race uh to where to get that that physical gold
and silver and right now the US is is starting to kick some uh pretty high gear here where it really started in December just incredible amounts of metal was flown on airplanes and you got to remember gold is quite heavy just think on a commercial uh on on a passenger plane you could put about four tons of gold that's flown a lot of people have no idea how much gold is flown on just regular flights uh but during Christmas season those planes are full so you're competing with cargo and passengers for weight so this started
into the Christmas season in just the amount of gold that's coming into the United States really on the on the daily right now uh and then Trump just announced you know tffs and we're about to find out more at least on Canada and Mexico and that was confirmed yesterday from what I saw and saw an immediate spike in the dxy index so the US dollar Index but you really didn't see much of a softening in the prices of precious metals the gains that they had they had both gold and silver had put in for the
week still held up it was a positive week for both medals uh Gold's an alltime high so it's probably again I I I don't know where we're going to be shortterm uh but yeah I I I think this could be going a lot higher uh because again uh as as markets are clamoring for the right metal in the right in the right locations uh this is not and it's not just in Precious Metals right now this is impacting Industries all over the place it's just that the precious metals are so uh it's it's the value is
so high and so big it's starting to get get attention but this has been really under reported until just recently like the last week or two what do you think that is people don't see this uh and the retail Market's asleep cons consumers do not know what's going on uh if anything they've been selling their gold and silver really worldwide uh but you know thinking hey it's kind of high let let liquid I'm going to buy it back at a lower price right and the opposite is true so a lot of this a lot of this
metal is being sucked out of the I call it the retail consumer's hands and it's going to the banks and the banks are then melting down a lot of that uh consumer consumer retail product turning it into an lbma or comx deliverable brand and they're putting it on in the exchange or uh or covering some of their shorts as well do you think this is being accelerated by a loss of faith in Fiat currencies as a reserve since obviously not only the 2008 financial crisis when we saw central banks become
net buyers again in 2010 as you know I I think they lost faith in the US Dollar's ability to be properly managed but also since covid when the money supply around the world for basically all Fiat currencies exploded at record Paces yeah there there's no doubt um I'd say faith in government has probably never been lower uh so everything's being stressed uh it maybe it may have been completely broken a long time ago I think not only not only did we see the monetary Supply expand after after covid uh but we also
saw some really big impact of what happened with the Ukraine war so when central banks uh and other nations start to seize assets of other countries uh whether that was right or wrong the other countries start paying attention so I think what's happening is the brics nations are are really looking at it going well uh if we can get kicked out of Swift and we can't use the banking system or we can have our assets seized in other we've never seen this in the modern modern history they're trying to
create a competitor to the US dollar and this is why now Trump is really pushing back quite hard he tweeted before before Christmas uh warning the bricks don't back a new currency he didn't say with what but I can tell you what it is it's gold um he said something again just this week on X um so I think there's there's a big there's a big deal so this actually this repatriation this is going to be a new term that you're going to hear about why is the metal is the US Government even
may be involved in this and this is I'm going to throw that out there this is not being uh discussed a lot uh we just put out a report on on scotts.com on our website that's kind of talking about this is is the United States government itself possibly involved in bringing some of its gold that it might have had in Europe uh I think you're quite aware obviously the US is swinging politically uh to to a much more conservative uh more traditional uh the UK is not right and so that there's kind of a trend within Europe um
who's going to kind of follow the path of the United States um I had a friend joke uh can you make the UK the 51st state before Canada uh I I I chuckled but the reality is is I think there's going to be kind of a battle between economic powers and you're either going to be part of team Team USA and call it the re the reorganization of of of Finance um is going to be quite interesting here going forward for my viewers definitely check out the Scottsdale mint website remember that all Scottdale mint products are also
available at Summit metals.com which is fantastic Summit Metals has a great relationship with Scottdale mint but you know for the people who are looking at this and and watching this video and saying okay you know prices are a bit high does that mean I should remain on a buying schedule I would like to ask you what you think the impact of these tariffs which again Trump has confirmed I mean today is Saturday where it's early morning we're here at the world money fair in Germany so it's not you
know quite Sunrise yet in the US but once the sunrise those tariffs are in place what impacts tangible impacts is that going to have happen have sorry on the prices of precious medals for the regular people who are watching this video right now yeah the I'd say the value of metal could could overnight go up a lot so it's it's I don't really view it as a uh a negative for price if anything it's going to it's going to cause the metal prices to go up in the event there's an exemption for
precious metals um with the Mexico Canada things might ease and so in that case maybe maybe Metals kind of ease back a little bit um but if there is no exemption for silver in particular uh but also gold coming out of Mexico and Canada this is going to be impact very impactful because Mexico is the largest Miner of silver in the world in the world biggest producer uh the biggest importer of silver into the United States us Imports roughly 80 82% of its of its silver consumption every year from foreign countries so if I can just
stop you there does that mean with a 25% tariff that we could expect the market price of what silver is selling for to go up 25% well what's going to happen in the short term the United States uh importers and my company included is going to try to buy metal that's not so we're talking incredible dislocation so instead of instead of uh importing from Mexico right people are going to be going all over the world and that's why you're seeing the the the supplies in in the UK dwindle because right now there
is no there's no uh tariff um threat in in the immediate um but we're hearing talks about un tariffs uh meaning all countries so what would that look like even major producers like kghm out of Poland would be subject could could be all of them yeah and my company uses a lot of their silver uh so yeah I would say almost like when you show up at a gas pump um in the US and other places it's usually all in like your taxes all in uh the you the especially Europe Europe your prices taxes are included
you're you're looking at clothing when you're at a rest at a a store yeah whereas the US kind of breaks it down and so it's possible that we may get just a new kind of pricing mechanism that that especially let's say in the United States silver and gold might be just let's call it tariff inclusive uh so this this would say it's going to be a pressure of of prices going higher uh definitely in the short term and long term okay so then looking at the situation would you say right now in the
metals market for people who are really uh a little bit guny and they're saying yeah you know prices are high again I don't want to buy do you think we're closer to the bottom of the metals Market when it comes to Fiat pricing or do you think we're closer to the top right now considering the big moves we've made up over the last year yeah obviously silver and gold did move up pretty nicely in 24 so I don't know I wouldn't look at it so much if we closer to the top or the bottom
it's like where we where are we going if you're not in and you're not you don't have your bags packed to the level that that you want we're about to enter a a new a new phase in the market this should be an incredible Drive uh driving force here uh through this decade you know they're talking about you know you hear terms about great reset what does that mean and I think we can all kind of agree that it's at least there's a monetary uh need of some sort of reorder
some sort of reconfiguration and is gold going to be part of that um is silver going to be part of that we just saw uh Russia put out their their draft um uh Finance uh review budget for 2025 and they're talking about adding silver their balance sheets and no again very few people are talking about this there's not enough silver world for central banks to say hey let's put 1% in uh it would suck it all up so here we are faced with uh I call it the tech movement AI is going to consume a an
incredible amount of silver so we're silver Institute just put out a report this week we're running going to run another deficit and so that means there's less new freshly mined silver being consumed than we're cons sorry being produced and we're consuming so that means stock uh draw downs and so this has nothing there's no assume no investor hoarding or going into it uh this could get pretty Rowdy if if investors uh actually step back in retail's been dead it's probably been
and I mean by Dead uh it went it went boom right investors clamored for the metal after the co the co drop uh in 2020 and they've been piling in you know 21 22 uh 23 and then we've seen it kind of cool off in 24 so I don't think um we've really seen the fireworks show yet well guys listen if you're interested in what Josh has to say follow him on X he is on X now since two weeks right two uh two weeks ago I even got a shout out on the Alex Jones Show last night I had no idea so this is kind of yeah kind of
interesting what's going on follow on X and obviously check out the Scottdale mint products also available at Summit medals Josh thank you so much for sitting down with me man absolutely thank you cheers brother
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