gold news

 hey everyone welcome to bald guy money it's good to be back making videos I've had to take a small break not because I went on vacation but because I had a pretty nasty case of the flu but I'm feeling much better right now and I'm feeling well enough at least to make this video because I want to talk to you all about 2024 and why I think it's going to be a very big year for gold and silver because from where I'm sitting a lot of what I expected to play out in 202 23 has done just that and I know

some of you are expecting fireworks crashes and $5,000 gold and don't get me wrong those things can happen but on what timeline now if we think back to the beginning of the Great Recession it started at the end of 2007 and it triggered a massive market crash in 2008 which sent gold on a 4-year Journey where it went went from about $800 an ounce all the way up to nearly $2,000 an ounce but it took a total of 4 years to do that journey and that's really why I'm showing this all to you right now

because I want everyone to maintain perspective because as far as I see it we are here right now the early days of economic recession gold and silver are poised to do very well but the party is just getting started and if few things have to happen still before Marilyn Monroe pops out of the cake and we politely tell the people closest to us the ones who've told us that we're crazy for buying gold and silver that hey we've been right the entire time so in this video I want to keep it simple and

show you all exactly what factors I see pushing us towards a recession or should I say a deeper recession because I think we're already in recession now then I want to show you all why gold and silver silver will do well in this environment and to top it off I want to say a word on when in 2024 I think we will start to see this all play out now just before we get into it if you're in the United States and trying to get some of your hard-earned wealth into gold and silver before the next blowoff top please check

out channel partner pinck they've got these wonderful quar ounce gold Maple Leaf coins on the site right now and they are about $20 cheaper per piece versus their main competition including another site famous for cheap prices and I will leave the link to this great deal in the video description if you want to take advantage of it and if you want to see what other great prices they've got visit them at pinex dcom or call them at the number on the screen they can also help you convert your IRA to a gold and

silver IRA without charging you an arm and a leg like some companies do who have famous spokespeople just please if you contact them be sure to let them know you came from bald guy money so what are the signs what is the evidence that we are in fact moving towards a recession that will send the price of metals higher similar to what we saw during the 2008 financial crisis leading into the 2011 blowoff top well let's start here chapter 11 bankruptcy filings so bankruptcy filings for businesses

that give them a last chance to restructure and keep the business afloat filings for chapter 11 bankruptcy are at their highest level since 2018 and this tells us that we are only starting to see the impact of higher interest rates Ripple through the market right now as more and more businesses struggle to fund their operations in a market where borrowing money isn't as cheap today as it used to be and to be frank it's sad I'm a business owner myself I don't like to see people fail but with bad business

models having been propped up by cheap money for so long many are now having to face the hard truth that business is tough in a normal interest rate environment and the consequences of this reality are starting to be felt not only by the people running struggling businesses but also for the people who have to live with the consequences of failed businesses people like retirees with corporate Bonds in their portfolios who lent these businesses money that are not going to get paid back as well as

the good hard workking people who will have to go home one day and wrestle with the fact that they no longer have a job because if we look at a 5-year time Horizon only about 20 to 30% of businesses that file for chapter 11 bankruptcy make it out to continue doing business thereafter and as in the case of iconic American Trucking Company yellow many of the companies that file for chapter 11 bankruptcy end up getting sold off in bits to Rivals with only a portion of the lost jobs ever coming back and as bankruptcies start to pile

up given the international nature of business in the 21st century we are seeing the unemployment rate in developed countries countries where I have the majority of my viewers tick up significantly and you can see that in the data here I've covered it for Canada Germany you can see is hitting 5.9% unemployment there's a clear uptrend in unemployment in the USA as well as in the UK and if you're watching from any of these places please leave a comment let me know if you're seeing worsening

labor market conditions in your area because from my point of view I don't even need the Labor Statistics to see that unemployment is going up or to understand that inflation is crushing the average person all I have to do is look at Rising credit card delinquencies which today at least in the USA are at the highest level since 2012 and to anybody dismissing this and saying it's a small part of the credit Market I say this and this is something you're not going to hear on other YouTube channels

but credit card delinquency is a leading indicator of issues in the credit Market because when money is tight and you have to choose between paying your mortgage Ag and paying your credi t card bill you always choose to pay your mortgage and that's why delinquencies on mortgages usually lag behind credit card delinquency rates by about 6 to 9 months but rest assured all is not well in the mortgage credit Market mortgage defaults are on the way especially as new homeowners find themselves owing more on

their property than what it's actually worth a frightening statistic I covered in my latest patreon newsletter driven once again by an unsustainable environment created by low interest rate policies so with business bankruptcy spiking unemployment Rising credit card debt not being paid and a high likelihood of all of these issues spilling into the real estate market how does this impact gold and silver and when can we expect to see this start to take effect to answer that here's a chart from the Cleveland Federal Reserve

showing the probability of a recession calculated from the yield curve and the yield curve is inverted right now I've spoken about this on the channel before but just to bring everyone up to speed an inverted yield curve which we have right now with short-term rates being higher than long-term rates and I've added the two and 10year rates to The Graphic for you all to see here you can see the interest rate is higher for the 2-year than the 10-year and this indicates a recession will come in about

a year and it's important to note that yield curve inversions have preceded each of the last eight recessions so this is not witchcraft I'm talking about this is the free market this is the real Market trying to tell the manipulated Market what's happening and what to expect and what this is telling us by the very admission of the Cleveland Federal Reserve is that there is a 60% chance we will enter recession in January 2024 and a 78% chance we will be in recession by April 2024 recessions by

the way which will be announced retrospectively meaning that we will already have been in the recession for a while before anybody officially announces that fact and when you add up all the macro data what the yield curve is telling us the high odds of a recession this is why the Federal Reserve is Shifting its tone this is why they're talking about lowering rates even though inflation is far from being defeated and when they lower rates and I suspect this could happen as soon as April and that's the timing I'm looking

for that's the timing I mentioned at I mentioned at the start of the video look for this to happen around April coinciding with Peak recession expectations as well as the reverse repo Market balance expected to hit zero around that time we are going to see a continued drop in the US dollar on the dollar Index a drop that started back in October and has been a big theme on the channel as to why I am convinced gold and silver are going to perform well all the way through to 2026 a drop in the

dollar mind you that since October has boosted Gold by nearly 11% helped Along by geopolitical uncertainties and has boosted the price of silver since then by 5.3% as it bounced off its second second half of the Year lows and ladies and gentlemen lower rates will continue the dollar along this downtrend just as I've been saying it will and again look for the next big leg down in the dollar to happen coinciding with rate cuts that I really sincerely think are going to happen in April 2024 as the FED fights to Stave off a

depression to help Joe Biden get reelected as president and as I said in my last video before I got sick I am expecting this to boost gold and silver to the following price levels in 2024 and for those of you expecting higher just remember higher prices than these are on the way but it will take time and it's why in many of my videos since 2021 I have been speaking about a timeline out to 2026 because mark my words another credit crisis is on the way it will be made up part L of corporate debt it will

be made up partly of sovereign debt and it will be made up partly of household debt and I wanted to share this tweet from VC ramaswami with you all to illustrate that bad lending practices the practices that led to the 2008 crisis are still abound and as the issues I've covered in this video become larger here I'm talking about higher unemployment higher delinquency rates on uh on debts people will lose loose faith in the credit market and they will look for safety in things that have intrinsic

value and don't come with loads of counterparty risk and the best things that fit that bill are gold and silver and it's why I have positioned myself the way I have in preparation for these long-term inevitabilities now I want to move over to this video's viewer question because it ties in really well with the topic that I'm talking about and it comes from a viewer named named C fips and he asked if you were holding a lot more silver than gold like 100 o of silver per 1 ounce of gold and wanted to

convert some silver to gold what do you think would be a good silver to gold ratio to do this and he added thanks love the channel and I think this is a great question because again for those of us who are trying to prepare ourselves for the next few years where there are going to be some turmoils in the global economy there are clearly going to be issues in the credit Market I think it's a good idea to refresh everybody on these fundamental stacking principles and kind of at least where I stand with respect to having a good gold

to Silver ratio in your personal stack now just before I answer the question I want to say if you have a question you want answered on the channel drop it in the comment section of this video now I choose one question for every video I do and you never know no your question just may be answered next so Mr fips you have a 100 oun of silver to 1 oce of gold ratio and I'm going to break it down as simply as possible as I can for you and then give you a little bit of information as to why I do it this way

so in your position what I would do again this is not advice this is simply what I would do I would slowly work my way and try to get at least to a 60 to1 ratio with a longer term goal of getting to a 40 oun of silver to 1 o of gold ratio over the long term again and I want to explain a little bit about why I would like to be heavier gold than Silver versus your current ratio and the reason for that is simple with central banks stacking gold at a record Pace in anticipation of the Dollar's Reserve

status diminishing over time and notice how I say diminishing over time and I don't say disappearing overnight because this will be a slow process that diminishes over time and what central banks are trying to do right now is they're trying to put more gold on their balance sheet to prepare for the inevitability that the dollar again will diminish in reserve status over time and what that's resulted in is gold handily beating inflation over the last 15 years delivering a solid lowrisk return over

that period of time and this is data that I presented to you all in a video from a few months ago and I've updated it for this video to show you all that when you execute a dollar cost average strategy you almost can't lose with gold even if you bought the highest price of gold each year for the last 15 years that's that data set right here you still would have beaten inflation by 4% and these are inflation adjusted numbers and if you're like me a more patient stacker a person who likes to focus on

buying the dips your inflation adjusted performance is likely closer to a 17 to 30% inflation adjusted gain over that same time period and silver with its volatility cannot make the same claim in fact I saw a community post just today by two is one highlighting the performance of gold versus silver in 2023 and please check out 2 is one Channel if you haven't it's called two is one written all together number two is one and although there are some nuances in the situation for silver that

I would argue held it back in 2023 the point he is trying to make with that Community post is that gold has been the shest most reliable wealth protector over the last few years at least that's what I assume he's trying to say and the fact of of the matter is I agree with him and I've put out countless videos agreeing with that fact and I say that as a silver stacker who still sees big upside for silver especially in 2024 but if you look at these numbers again what you see is that with gold you are not

only buying a real asset with no counterparty risk which is the case with silver as well and it's why I own it too but you are also buying stability and reliability and that's why I think stacking at a 40 to1 ratio makes a lot more sense than stacking at 100:1 ratio it's just a better way to do it if you ask me with that said thank you all for watching this video remember if you want to know more about my purchase price targets for gold and silver so you're not dcing in at that at those high

prices every year um if you also want to know what I think about the real estate correction Bitcoin what I think about mining stocks which mining stocks I have in my portfolio and more join me on my patreon it doesn't cost much it's only $9.99 and it will definitely give you a glimpse into how I view the wider market and how I protect and build my wealth until the next time we see each other everyone take care of yourselves and always always always please take care of each other I would like to wish you all

an early happy New Year I will see you in 2024 and until the next time we see each other everybody goodbye