hi this is mike maloney with jeff clark once again jeff what have you got for us today hi mike great to see you this week and yes we got a very full schedule for this video so we're going to whip through some things really quick here two articles of the day tweeted the day chart of the day some viewer feedback and a fun meme you're gonna share with us so stick around for that one so first our article of the day is one that's just coming out today and it's basically our quarterly report on


how gold and silver performed in the quarter and year to date versus other major asset classes along with a litany of catalysts that could potentially push prices higher this year so the chart there shows that uh gold and silver had a good q2 you can see they were up there despite having a bad june they were down both hard in june which by the way you predicted in your article about the seasonality of precious metals that's true yeah that's true uh june is a weak month and it played out right on


schedule so uh you can see there in the next chart that gold and silver are down year-to-date uh but the real crux of this article in my opinion is just the catalysts that are listed there that are very compelling that could push uh prices potentially higher including seasonality so mike what was your reaction to this data through q2 here well my basic reaction is that uh people tend to chase price they're uh they want to buy when it's going up and uh to me the time to buy is when it's down


and uh you had just pointed out in your previous article i don't know how many articles ago it was about the seasonality and that there's usually a bottom in the uh june july time frame something like that and uh i made a purchase and you know we we saw a big slide in both precious metals and uh i made a purchase uh when it it hit some certain fibonaccis and and moving averages and so um the thing is if you want to get ahead you need to buy the dips or just dollar cost average in on a long-term plan


you've created that you don't violate just stick with your plan so that's those are the things that i do for me but uh it's interesting what this article contains and it's interesting that the masses the majority of people buy at the wrong time not the right time but that's markets yeah good point that's exactly what happens so buy when prices are weak that's the idea and keep the big picture in mind so well this next article mike is from bloomberg and it's quite amazing something you've talked


about years ago venezuela is preparing to once again lop off zeros from its national currency in an attempt to simplify daily transactions uh this article is worth reading because it gives you a a very good insight into what can happen to a country when hyperinflation really hits um what they're going to do basically is is lop off so many zeroes that uh one dollar would equal 3.2 bolivars their national currency instead of 3.2 million boulevards that's how many zeros they're gonna lop


off and mike before this they lopped off eight zeros the last time they did this so it's really getting crazy and you've uh talked about this the sad situation down there before yeah actually i predicted all of this including the revaluation of the currency and it was uh six seven eight years ago we'll we'll put a link in here to the video where i predicted all of this and it is pl it's taking longer than i thought but this usually ends in some sort of revolution and you know they've just got


a one million boulevard note is now going to be worth one new boulevard so it's a you know there it's a it's a uh one million to one uh readjustment of the currency and it says that um you know the one million boulevard note is the their largest denomination of currency is now worth just uh 32 cents u.s and it's not enough to buy a cup of coffee one of the things i said in my book is if i told you that a million dollars was you know i was i was stressing price versus value if i told you that gold was going to a


million dollars an ounce you'd want to rush out today and buy some as quickly as possible but if i said in the same sentence and coffee will go to two million dollars a cup you would want to sell your gold well it was you know this was back when gold was 700 or something like that you'd want to sell your gold well it was it was 700 an hour so worth something than to wait until it's a million dollars an ounce and worth nothing well uh that's what we have here but with the currency this isn't going to


happen to gold the exact opposite is happening to gold and this forces you know now people have a choice they can go over to things like bitcoin and other cryptocurrencies and uh they have alternates even though the government is making it harder and harder and harder to use alternates because they want to uh continue being able to transfer the wealth from the population they are stealing all of the wealth of the population by running their country off of just deficit spending funded by printing currency


this is the result and further down in the article uh it says that uh last year they had 300 000 inflation in 2019 i'm sorry 2019 was 300 000 and this year it's supposed to be it's it's on track or last year let me see following 700 yeah annual inflation is on track to be 2 339 so 20 2500 instead of 300 000 according to bloomberg's cafe con leche so coffee with milk index so that's a big reduction but still 2500 loss in purchasing power in your currency every year is still


hyper inflation and then you know there's a an economist that makes some comments here and the closing comment in this i find particularly amusing that an economist could make this statement everyone has been affected by the huge lag in providing cash for the country this has been the problem it's not the solution it is the problem to the situation they've been providing too much cash so they've got to stop increasing the amount of currency and you know it wouldn't be bad if they


started using money instead so those are my comments on on this article but please go and watch my predictions from so many years ago like i said i tend to be early on a lot of these things any comments on this jeff uh no just we'll put the link down below there's from 2013 it's well worth watching and as mike says he predicted what was going to happen in venezuela and uh a lot of people disagreed with him at the time and yet it's been proven true so uh well mike on to our tweet of the day here speaking of


inflation this is from the white house and it says planning a cookout this year ketchup on the news a little play on words there according to the farm bureau the cost of a fourth of july barbecue is down from last year it's a fact you must heard hot dog the biden economic plan is working and that's something we can all relish a little play in all the words there uh mike i did this was uh uh struck me as uh frankly dishonest uh 2020 was a pandemic year uh everything was down last year so to


compare it to you know last year isn't quite the most honest thing and of course inflation their own gauge is up almost five percent 4.99 la as of last month the most recent reading inflation is clearly heart i don't think this is most people's experience that a barbecue this year uh is cheaper what do you think right well it's just a flat out bold-faced lie this reminds me very much of nazi germany how they their propaganda machine worked uh if the lie is big enough and you just


repeat it often enough it becomes the truth for the people i remember as a kid uh seeing newsreel clips uh from russia about the bumper crops in wheat and and they were the when the government has to advertise how good a job the government is doing you know it's doing a lousy job i was in china recently and in tiananmen not recently a few years back for hidden secrets of money and in tiananmen square they had these giant tv screens that were probably 20 feet high and maybe 100 feet long each huge huge screens


that uh very long and uh you know only 20 feet higher so but um they were just advertising what a great job the chinese government was doing and how great it is to be a chinese citizen and in russia uh from lenin to uh brezhnev and uh you know every from from the beginning of the soviet union to the the point where the soviet union was completely collapsing they were always just creating a lie on how much better everything was getting year after year and this is it and you said that 2020 was a deflationary year well this is the


cause it says the cost of a cookout in 2021. so this is supposed to be from fourth of july 2020 when prices would have been depressed until today uh so this should be incorporating all the inflationary data and uh and it's saying that it's just down down down across the board uh and so yeah this is government propaganda trying to convince us that they're doing a good job when they're doing a lousy job i'm not convinced mike right well if you're liking this video please hit the like button down there for us


and and subscribe to the channel as well on to our chart of the day and mike this is a very simple chart it's from sal the argust c-span created a poll would you pay more taxes for free education and health care and you can see two-thirds said no one-third said yes but i like the words that he underlined would you pay more for free stuff right that's quite interesting how much more would you pay to get this for free it's and two-thirds of the people uh said uh no they would not pay more but a


third said yes so uh there's a third of the people there that like this sailed right over would you pay more for something free right over you know what i have to say that i love the one below his tweet just before uh this one and that's socialism idea is so good they have to be mandatory and it shows uh you know those generic image for a human and one human holding a gun to the head of another human the one that's holding the gun is obviously government and i'm going to buy one of those


t-shirts yeah we will always err on the side of freedom here at goldsilver.com so uh well here's some viewer feedback mike this is from just a sneaker funny how people buy buy buy when prices go up and stop when prices start dropping yep except you know i i waited for the drop i was not buying i was seeing some little bit of weakness in the markets uh even with the wall street uh silver uh movement causing so ben silver has shown absolutely pretty uh surprising its resilience uh you know um


it's i expected silver to drop a lot more than it did uh but uh you know i was waiting for the drop that we've had but it is interesting uh people stop buying when the price drops when they uh when it's probably a good idea to buy i took advantage of it i don't know if it's going to go lower or not but if it does i didn't deploy all of my cash i still have some left over to take an even deeper position but when it when it falls that's when you want to back up the truck


what do you think yeah you want to buy when prices are down like we've been saying for years really uh and and this kind of highlights the idea that once this thing really gets going more and more investors are going to crowd in and rush in to buy gold and silver and that's why bull markets last so long regardless of the asset but with gold and silver it's probably going to be a panic like you've talked about mike into precious metals when the monetary system really takes a some type of hit or some event happens


to it so well on to our uh meme of the day uh this is a fun one mike so share this meme with us yeah this one doesn't really require any comment all i have to do is read it dad how did you get so rich and he says i realized that the financial system was a ponzi scheme and made a big bet on silver while everybody called me crazy and then the sun says freaking legend i think it's awesome that's what i'm trying to do i want to thank everybody for watching thank you jeff thank you mike and i'll


see you thursday