[Music] I'm Charlotte McCloud with investing news.com and here today with me is David Morgan publisher of the Morgan report thank you so much for being here great to have you as always Charlotte I always enjoy our conversations really good to be speaking with you and I think it's it's a perfect time and what I want to mostly go into with you today is is silver I've been seeing over the last week or so probably longer than a week at this point but these posts on Twitter about the silver


squeeze and I'm hoping that you can help me dig into what's going on here so from what I can tell this is a movement that originated on Twitter and the plan is essentially to buy silver on March 31st but what what are you seeing can you help us understand sure well first of all the original silver squeeze came after the GameStop I guess they'll call Fiasco where this one gentleman uh really put out the word that uh there was a huge short position in GameStop and uh got a a big following and people kept buying


and buying and the shorts really got creamed a lot of them and so after that happened and that was on I think Wall Street bets um there became a entity called uh Wall Street Silver I believe it was and whole idea was basically to perform a similar situation with silver but silver is a different animal I mean you're looking at a commodity versus stock you're looking at different rules you're looking at different leverage there's a lot of different things but anyway that that took place so long came


silver squeeze and I forget the year it wasn't that long ago but it actually did have quite an effect it moved the price I forget the exact price thing moved up back and a half or so and it really started touching into you know some into the 30s into the higher ranges than what had been for some time people got excited lots of buying lots of retail buying lots of commenting back and forth and then ironically Roston benam who was a temporary I believe interim cftc chairman if I recall correctly and


he was in the cftc forget his exact position basically came out and said well we need to T down the silver market these are the things that seem to only happen in the silver market you know it doesn't happen in weed or you know the t-bond market or you know cocoa or cotton but silver always seems to get attention of some of the more uh important members of the cftc so basically it did have a run it did have an effect it may have even scared uh some participants that were on the short side and so basically what's


happened is that cooled off it it kind of popped it up and then it fell away and not too much was talked about it you'll see the hashtag silver squeeze from a lot of you know silver people on X and other places so now it's resurrected and it's coming back and it's supposed to be the 31st of March which is Monday and honestly I don't think it's going to have that much in effect this time Charlotte um from where I sit and I've been looking at the silver market as you know most of my life I don't


think there's the first of all the facts are the retail market and silver is is languishing to put in polite terms I mean to be dead on I'd use were dead there's hardly any uh activity in silver in fact I talked to one of the main wholesalers doesn't mean all of them so don't miscon through what I'm saying people but one of the main ones had a net negative meaning more sells than Buys in the silver market the last couple of weeks so people are seeing you know 33 $34 silver maybe they bought it


for you know 24 and a pretty big premium and now they're you know four bucks ahead it's going sideways Gold's outperforming hey I'm out you know I I bought too much or it's not moving like Bitcoin or whatever so that's just a point of fact the other part is I think that most of the momentum in silver squeeze one I'll call it just seemed to be the right time place in condition this one to me doesn't seem that way now I hope I'm surprised that there is a huge move in


silver uh you know on Monday and that uh you know it does something but these type of things are kind of like looking at the other side of the coin where people really want to manage the price in let's say a certain range uh usually their the effects can last for a while but not indefinitely and I think it's the same thing here I really don't think there's new members in the silver Community they're gonna say yes silver squeeze too I'm on let's do it it's a higher price uh most people


are upset about the high premiums that lasted more than six months and there just doesn't seem to be enough momentum in here so I'll leave it at that Charlotte uh silver short squeeze one good short squeeze two remains to be determined if it runs flat it wouldn't surprise me if it takes off it would but itd be smiling if it did yeah it's a really interesting situation and I'm glad that we took a look at that kind of 1.0 situation it is important I think to note that this is kind of the second


iteration of silver squeeze so we'll keep an eye on it we'll we'll see how it plays out I think also important to mention when we have these movements come up there's always that undercurrent of wanting to address Market manipulation and of course that's that's a Hot Topic in silver and we've talked about it many times before and I think what you've told us in the past is kind of like yes it's a problem for silver market manipulation but all markets or most markets are manipulated to some


extent so do you see you know I guess you said that this probably won't have any major effect but can we see real change there I think eventually we will uh My overall statement I've made several but the one I like to stick to the the most is a market cannot be manipulated for the long-term Trend so if you I made that statement back in the early 2000s and gold was 252 at the bottom and some somewhere around five and so you know so the major trend for both Metals is up it's apparent both metals are up from


that point but within that market you can certainly manage the price back and forth you know at at times but the overall trend really cannot be manipulated now if there wasn't some management of price over time would the price be higher probably but I think the important point is to know and the second one is in my book The Silver Manifesto you know proved to me that it's manipulated and you have to look this up on the web people but if you go to Sharp's R ratio s RP and you look at what it is when it


defines and you look at the sharp ratio for the madeof Scandal the fix between London and New York is a higher Sharps ratio than the made off Scandal so I think I could convince a jury that the silver price is manipulated but again the the overall trend cannot be so I hope I'm clear on that I I don't want to rely on just manipulation as the only thing that is and again Drew come back to you Charlotte you're right there there really isn't a market out there I mean you look at cotton or cocoa the


soft these are Commodities that very few people really pay attention to they buy them but they don't think about the price of cotton when they buy us you know some underwear or t-shirt the point is that all these markets are run on algorithms computer trading and all that stuff so there really isn't a through free market hardly anywhere I mean there there is but the real free market is when you put an ad for your truck in a newspaper and you're asking 6,000 bucks for it and somebody comes along and says


they'll give you 5,000 I don't know I won't take that all right well how about you know and that's a free market sorry I digress no no totally fine and so we have seen this week some movement in the silver price and I think there's you know excitement on social media maybe this silver squeeze is having an effect but I think then also important to look at what's going on with gold so we have gold setting new record prices this week so I'm wondering what you see as Silver's main drivers at the


moment well comment on gold first the main driver for gold is it's a a very accepted uh monetary base I mean even though the central banks really don't come out and talk about it they've all been buying gold hand over fist the last couple years it treat has a tier one asset and as a monetary metal Silver doesn't have that luxury I mean no Central Bank holds silver as a monetary asset Russia's bought some more or less as a strategic asset uh but what it will drive the silver market one is the


industrial demand is keeps increasing so we've gone from 25 years ago 35% of the market was industrial 20 25 years later 2025 we're looking at 60% or greater uh industrial demand for silver so that's one the second one is aware Ness of the economic conditions on a global basis are deteriorating and that the all the currencies are debasing the US dollar debasing at a less rapid rate than some of the others but nonetheless they're all becoming work less and work less all the time so as gold continues to move up


I think it'll get out of the reach of a lot of people that are waking up to I better do something and that will that money that may have gone into gold will spill over into the silver because it's better value and they feel like they're getting more uh you know more for their money and so I think that uh silver will hit both the industrial side that won't go away and the investment side will come back in and it is but but not strongly as I mentioned earlier it's pretty languishing retail wise um


commercial wise it's pretty robust yeah I think that's a little surprising to me about that weaker in uh sorry retail demand for silver right now because the gold price is already so high you would think some of that demand would already kind of be spilling over there into silver I agree if I could just interject and this is my take I I think it has to do with these really high premiums I mean the premiums in Gold got higher but not crazy high you know gold premium if you're buying in pretty good size th


2,000 you know three four% silver maybe seven you know but it got that these astronomical I think it really kind of put a bad taste in the mouth to use the expression of silver investors that are current so a new investor that would come along and say well you don't know anything about premiums they pretty low right now they're very low and they're getting you know more less premium to pay but there isn't a new market out there that I could see that's my point is that you know there's not fresh blood in the


market saying you know I need to buy silver now there could be some institutional money suting on the sidelines waiting to see what takes place and then coming in I don't know but regardless it just seems like the silver market was um has been messed with so much that people on both sides are just kind of giving up that's my take it's obviously there's industrial demand continuing but as far as retail buyers I just don't understand it but they're not there talking about the premiums so can


you can you mention why they are kind of at those elevated levels right now yeah well they're not not now now they've come down but at the time that they were so elevated it was because there's really two silver markets there's the silver market and when I say the silver market I'm referring to the derivatives Market which is commercial bars that are roughly poured th000 ounces they're stamped with the exact weight and the Hallmark on them and there's only so many uh refiners that are proved to be


comx delivery bars that's the silver market so you get a price on a derivative from that derivatives price you get a price that's used in the retail Market where you buy silver coins silver bars uh you know kilo bars 10 ounz bars 1 oce Wafers government mted coins silver medallions silver rounds and all of that now without markets a separate market and that market can get very tight at times and it was so it was very difficult to procure a lot of retail silver product at for quite some time


months and so what happens is the premium goes up so in order to get somebody to sell it the price goes up someone sells it and now they don't have that much so they put a higher premium to say if you want it you got to pay this price happened particularly in the government mted coins the silver eagle for example to the best of my memory and I'm sure there's a different price we going to qu quote but the price was X and the premium was like $14 which at the time I think was like a 4% or more premium on a government


minted and you know in the 10 rules of silver investing I wrote in the early 2000s I said you really don't want to chase a market secondly you don't want to pay high premiums get the most silver you can for your money because if you buy a silver round it's 1 oce of silver if you buy a silver eagle it's still 1 oce of silver so when you go to sell it back and very few people talk about this enough in my opinion the premiums disappear if I went into my local coin shop here in my hometown and I put a


silver eagle on the counter and I put a silver round on the counter I would get spot probably for the silver round which we'll call it 33 today I don't know the exact price and I might get 30 350 or 34 for the silver government minted eagle so the premiums evaporate but you know the coin dealers that were selling these weren't telling the public that at all and now that people have discovered it on their own uh I think they've been burnning on the stove they're really not that


anxious to come back to the market say you know what burn me once shame on me burn me twice you know uh I mean bur me once shame on you me twice shame on me I'm not g to get burned again now you're not getting burned now but the price is high and even with a low premium is like well is it going to go higher I guess there's a lot of disbelief that silver is not performing and I'm upset by it or may be obsess not the right word but it's concerning but then I've studied the market for so long it's not unusual


in the Final Phase which we are in to see gold lead the way for quite some time and then silver plays catchup because of you know sh silver squeeze silver shortage fail to deliver problem in the comx lbma doesn't deliver um silver of a incorrect grade 90% instead of 999 fine I mean there's all kinds of things that could happen not predicting any of them but um it wouldn't be surprising in the next year or so that something along those lines does occur and Sparks a silver market and all of a


sudden it's off and running silver surprises anyone even years truly and I've been in it for a very long time because something that you don't think of or of a sudden it's just a sleepy Market not going anywhere and all of a sudden it shoots up and no one knows why yeah yeah it'll be I think it's so important to keep a close eye on things but sometimes something that you don't even expect as you mentioned comes out of nowhere so taking a little bit more of a look at the price I know it's


pretty hard to make a prediction about the price when times are very volatile and uncertain like they are and when you can have these Black Swan things going on we had talked back in November you mentioned maybe $40 or so silver in 2025 are you still feeling like that's the right number for this year I think it could get there I it could not would really you know in stocks and commodities particularly in stocks there what's called overhead resistance this is what technical analysis or charting is all about but if


you sold a bunch of uh stock at 10 bucks and it drops to five and when it went from 10 sold a lot at at the 8 level and then it went to six and sold a lot the $6 level that would be upside resistance as it goes through five to six a lot of people that bought it at six will sell it to break even and that's resistance to move it back up and then gets to eight a lot of people that bought it eight will sell it because a break even and then it gets to 10 people are now where they started so they're probably


going to hold maybe sell a little bit once it goes above 10 it's at 11 it's an all-time high people have no resistance people hold it say my goodness I am I going to profit how high is it going to go they start to get a little bit greedy it goes to 12 and I'm a selling it's going higher and so there's no upside resistance any new buying takes the price higher and higher and higher until finally people start to cash out or some market conditions change or whatever that's the situation for silver above 34


or so and we're there uh we're just starting to get there but there hasn't been that move that I expect where there is there's some resistance for very low resistance practically not for practical purposes so this is something I'm anticipating that could take it from 34 to 40 maybe not stay there maybe go beyond it I don't know but uh it's not acting like a market that has very little resistance and the reason for that is there's massive uh short positions in the silver


market not only in the Futures but also in the ETFs and there's a lot of borrowing going on uh in the ETF markets to short the silver I think the short to me I don't want to be too enthusiastic here Charlotte but it appears as if the shorts may be getting a little bit sweaty a little bit right now big short positions no real ability to cover because it can't seem to get the price down substantially enough to cover their positions when they do want to cover it pops the price back up and I'm not


saying it's different this time I mean I've been through this so many times and so many people get excited and it will happen it's going to happen on and on it goes but the setup looks very interesting especially going back to the beginning of our conversation you know silver squeeze what if 31st some big players by the way I forgot to mention forget his name he's on X I popped up to my feed this morning uh this individual bought a large amount of physical silver I actually uh typed something to


him what his remarks reminded me of what bunker hunt said early on and I really believe bunker at least in the beginning you know he wasn't there to try to you know control the silver market he was worried about inflation he was worried about the depreciation of the US dollar and he just wanted to protect his savings and that's basically what this guy said and so wrote him and said hey that sounds familiar to me so yeah I think I saw the same post as you so pretty sure I know what you're talking


about there so that gives us kind of an idea of what's going on with the silver price I want to look at the gold price as well because as we mentioned it's it's at all-time highs this week it's getting pretty close to that $3,100 level and I'm wondering where you see you talked about support resistance for silver how's it looking for gold do we need to take a a breather here or what are you thinking well it's always good to take a breather in any market futures or stocks whatever but gold is


continuing to make nominal new highs and there's just what I outlined you know everyone's holding at a profit now and any currency so there's reluctance to sell back so there's not any real resistance going up so any new buying is going to take it higher and higher the banks certainly aren't selling uh the lbma situation looks like it's been pretty much resolved basis uh activity that we're seeing from London and New York currently and yet uh you know we keep seeing more and more price pressure


to the upside so you know where's it going to go no one knows for sure I mean lots of people in our my peer group are looking at you know 4,000 5,000 you 10,000 couple books $10,000 gold you can't rule these things out you know you're not going to get to 10,000 so you make it past 4,000 that's the way I look at it but gold has certainly got the Limelight and this is not unusual for the end of a great currency crisis where the reserve currency the world I.E the US dollar is starting to lose its status


I mean all transactions globally used to be I think was 72% basis the US dollar now I think it's less than 60% you've got the bricks intervening they're trading goods and services be of Beast their own current IES circumventing the US dollar you can buy oil outside of the US dollar now um the treasury market is not as robust as it once was people of means you know looking at the banks and the International Community Sovereign wealth of big big players in the monetary sphere seeing that maybe the US


dollar at a long-term basis a 30-year Bond 2010 even maybe even shorter durations five would say you no I don't really trust that thing for that many years I don't think I really want want to buy much so all these factors and where's the one safe sound uh long proven investment to protect the purchasing power and that's gold and because of that fact you're seeing as I said central banks buying it robustly the last couple years and that's filling over into some of the Pension funds


which spilling over to some of uh you know family offices that maybe were putting it off you're seeing probably a rotation out of the stock market into hard assets gold being probably one of the leaders and so on and on it goes case for gold really couldn't be better than it is right now but having that knowing that and looking at sentiment that drives markets more than most people think to me it's like well Go's actually due for a breather here but that doesn't mean it will't continue to


go higher and higher I think it will whether it'll take a breather or not we'll have to wait and see we'll have to wait and see and yeah I always feel a little bit better when when things take a breather or a pause it just makes me feel a little bit more secure but we'll see what happens and okay talking a little bit more about this shift away from the US dollar we've got so many things going on right now in the US now that we've got Trump beginning his his second term is that shi from the dollar


do you see it accelerating right now in these next four years or or how do you see that playing out oh great question yeah I think it will accelerate the next four years years I'm glad you said four days or something no I really think within four years that we may see some type of new monetary system or maybe a dual system where we keep the current digital dollar with our Visa cards and all that and at the same time see perhaps a privately issued digital currency that you could use it's


um issued by let's say a major bank and not necessarily the Federal Reserve maybe run them in par parallel and then uh get people to switch over because it's more efficient there's less friction you're not paying a 2% Merchant fee if you use your Visa card you're only paying 0 2% if you use the new digital currency issued by JPM JP Morgan whatever or um just move the system away from the current one and move it into some type of uh digital currency fedcoin you know whatever it


wouldn't be fedcoin that was more or less an experiment proved to work pretty well and so this is what I anticipate a change in the monetary system and I think I would say it's imminent like it's a week from Tuesday but I think it'll be before Trump's term is up I think there'll be some type of financial crisis major bank that goes down um maybe a major hack to a money center Bank something along those lines that will be that moment in time where the monetary authorities on a global basis


say we've got to fix this problem here's how we do it go get a digital ID now that you have your digital ID connected to your present bank account that will be moved into the new system um it may not be that exact scenario but there'll be some situation that will take place that will force most of us to move into a more centrally controlled monitored system where basically uh cash becomes meaningless which it almost is now anyway but it'll probably be where that's that's the plan


Where It's All Digital every transaction is seen every transaction can be traced taxed at point of sale and uh what you're doing with your money could be monitored I think that's the direction we're going yeah and I like how you outline ways that this could play out because when we talk about these monetary shifts I always struggle to visualize what that actually means and of course it can be different but it it helps me to see how you think about it and I remember when we talked back in November you had


mentioned this this increasing government control and oversight and essentially threats to Freedom that you see developing I wondered if there's anything that you might add there I was going to ask if you feel better or worse than you did then and it sounds like maybe a little bit worse about that whole situation well some days I'm more cynical than others but there are states that you know basically put up legislation to be anti cbdc so they don't want a central bank digital currency I haven't read read them so I'm


speaking off of a educated guest that I don't think that they restrict a private digital currency but perhaps they do but there's a push back I mean there are people that want and value freedom and of course some of the bankers say well we're going to remain you're going to retain your privacy but I don't believe them I mean they might keep your transactions private until it's necessary for them to open them up in other words they'll know every purchase that you make and let's say for example


they tie it into a carbon credit score as an example and all of a sudden they determine that I'm traveling too much seeing you know my my aunt and uh they restrict that because you know you're just burning too much carment going to visit her every other week uh therefore you can't do that well how private is that you know it's really none of their business in my opinion how often I visit my but it is to them that can make it their business so these things really upset me Charlotte you know I mean I'm


also freedom of free markets I'm not for you know Big Brother telling what I can and can't eat where I can and can't go and that type thing and I may be off on that I mean I may be a bit extreme but you know I've been around so long I've seen What's called the slippery slope and once you give them a little bit of power it never goes away and they keep adding to it and that's the same thing with inflation you know you start off well just a little inflation well that's


good there really isn't such a thing as good inflation but in the beginning it looks like it then it gets bigger and bigger and bigger and finally gets to the point where people don't know what to do they don't trust the currency at all and a new system is installed yeah I can see certainly the the level of concern there and just going back again to that November conversation that we had you you told us about your upcoming silver Sunrise documentary so I wanted to check in with you on that as well and see where you're


at with that thank you yeah well all the filming is done and uh it's being put together in the final phases right now so we're still uh looking for donations I've fund a lot of it and we'll get done one way or the other but uh I'm really anxious I've seen the B- rolls meaning you know the rough cut final version and pretty happy with it I think it gives a new idea about you know how much fear and control the monetary Powers have over us and that really we in and of ourselves have a lot just by being just


by The Human Experience and we money's important we can't get around it we can't do without it but there are other ways to think about it and there are other ways to think about ourselves and realize that maybe the most important value isn't what we have outside of ourselves to make us feel better with a big house or big car you know certain clothes or you know dining out or whatever the case may be to look more interior into what we already have and how powerful we really are what our


creativity need means and what our communication and connections with other means and the old adage it sounded corny to me when I was a greedy little you know 20 year old but now at my age you know it is better to give than to receive you know it doesn't have to be monetary it can be lending a helping hand or helping somebody move or being there when they needed or listen to somebody when they're Hur or whatever so I the point of the film is to kind of reset what what's the most valuable


what's the least valuable was how valuable is money is it you know has it become your God and you don't even realize it and so those kind of questions I don't have a lot of answers Charlotte although I POS a few but I think the main ideas what I want is for people to walk out of the documentary and say wow that guy really made me think and not me but all these people that have helped contribute to this film well I will I will look forward to when that comes out and we can put the link in the video description so that


people can learn more about it I'll let let you go for now but before I do any final thoughts that you would leave investors with I know it's very interesting times right now I think the number one is is the allocation model shifting and these are big changes you know U Mike Maloney refers to as wealth Cycles there's a time when you should be in real estate and then there's a time you should get out of real estate and switch out of real estate into say the precious metals and then there's time to


be in precious metals and ride that and be out of stocks and then there's time to be precious vental and into stocks and I think we're in an allocation shift now Charlotte where it's going to be a time to be out of stocks and into gold and silver maybe Commodities generally so i' I'd leave with that I think that's a really good place to wrap up so thank you so much for for coming on to explain what's going on in silver and gold as well always really good to talk to you


thank you Charlotte of course and once again I'm Charlotte McLoud with investing news.com and this is David Morgan with the Morgan report thank you for watching if you like this video make sure you hit the like button and subscribe to our Channel we'd also love to hear your thoughts so leave us a comment below [Music]