hi everyone i've got jeff clark with me jeff how are you doing i'm doing great mike and we wanted to jump on a call here this evening didn't we because of what happened in the markets today so i'm going to give you a brief rundown of what happened and then i want to get your reaction and a few questions for you so uh basically as i think uh most of our viewers know the silver price really spiked today it opened the day and went up as much as 6.8 percent what was its biggest one-day gain uh


since last august since almost half a year ago um it ended up the day at four point um a 4.8 percent gain when it closed so what happened was basically the reddit community and this is i think a lot of our viewers are probably familiar with it the internet chat rooms there on reddit uh decided to do something similar to what they do with gamestop and some of the other stocks and that is to um drive the price higher and for some short covering and we're going to talk about this a little bit and we're also going


to i'm also going to talk about first majestic silver because they had a short squeeze today as well uh but mike just in general terms what's your reaction to um the reddick community taking on silver and driving the price higher well it's a much much bigger market than gamestop i believe uh but it is a tiny tiny market uh you know um eric spray years ago i mean i put this in my book eric sprott of sprott asset management says that wall street needs the little guy wall street needs the little guy


to feed off of in order to survive and that the uh the little guy the small investor is the plankton of the financial world and then my book i wrote i was writing about leverage and that you're in a professional's game if you're using leverage so if you want to be the plankton of the financial world go ahead and use leverage without an education but if you do just know that it is quite likely that they will slaughter you carve you up and die on your financial carcass right well uh um there are people


that are using leverage to play this game stop thing now i think it is great what they have done with gamestop because they're sort of uh teaching you know i i very often see these big funds and the wall street elite is sort of raping and pillaging their way through the economy uh they get to uh they con a lot of people and they take things i mean most retail investors end up losing or retail traders and on the other side of those trades is the wall street uh elite they get the inside uh scoop they get to know


what's happening they get to keep what they're uh talking about their trades a secret when it comes to hedge funds and the private wealth management and so on and there is a phenomenal uh interview on cnbc that is i believe a must watch for everybody there's a guy named chama pala hepatia and uh he's being interviewed by scott wapner and boy does he wallops scott wapner and gives wapner a whipping nice and now scott wapner is is a journalist he's not like uh a big wall street guy or anything


but you can see that he was sort of coming to the party with a view point from that wall street angle and since then uh we've seen people chime in uh on this like uh alexandria casey or cortez this is unacceptable we need to know more about the robinhood apps decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit as a member of the financial services committee i'd support a hearing if necessary and that's a reply


to a motherboard say saying more than half of all robin hood users own at least some gamestop stock now they are unable to trade it to freely trade it the app is only allowing users to close out their positions well that is the same thing this this happened to the hunt brothers uh during the run-up on silver in 1980 the comex the commodities exchange put in place a rule saying there was liquidation orders only so they could only close out the positions there was no new orders that were allowed that were long


you know so you could close out a position well if all there is is sellers and there's no buyers the stock has to go it has to go down and after that this stock has crashed uh it went down significantly the thing that started this there's something called wall street bets and basically uh on reddit.com there's people that are chatting about it and they found this stock that is one of the most shorted stocks that there is i think it's the most shorted stock or was and they were short 140 percent of the


shares now when you short a stock the brokerage house is lending you shares of stock that you then sell into the market so you're now short those shares you don't have them you've sold them you owe them back but you don't have them and if you if it goes down you get to buy them back at a lower price than you sold them for and you make the profit but but here they sold say there's 100 shares that exist and the broker goes and borrows those shares and gives you 140 of those hundred


shares that exist and you sell those 140 shares into the market and that's exactly what happened this is the wall street magic how they are able to uh rig these rules and stuff so that they can actually sell 140 of the existing shares of a company uh short and i mean uh these rules are so warped and so tilted toward the advantage of these big funds and they're using leverage so when that stock rises if they've used leverage at uh if it was just as a picking a wild number if it was 10 to 1


leverage if it rises a buck they're losing 10 bucks when that stock rises well all these little investors got together and started buying they just went long now you know i if you don't know what you're doing you shouldn't use leverage but i really like this that the small investors ganged up on the the wall street elite that has been raping and pillaging them for years for decades and for a short while they gave them a weapon right that's that's good uh mike i personally like it i like the small guy


being able to succeed like this of course i like the action and the silver price today but uh mike is this sustainable do you think this continues uh the reddick community seems pretty committed to this at least as far as silver goes but is this sustainable do you see this continuing well the problem is the um the friends of the wall street elite uh are changing the rules of the game robin hood which is supposed to be the app for the small guy has uh shown their true colors and uh not allowing the small investor to


continue buying so that it pushes up the stock price and causes more pain on the short side causing these big funds to have to lock in their enormous losses and cover and when you buy when they cover when you buy the stock goes up even more but you know when uh this thing with ted cruz and alexandria casio cortez came out and they were in agreement our producer director dan rubock wrote neil degrassi tyson's voice this is how black holes are formed and iron mclemons who people don't know who he is but he runs


a whole he's responsible for a whole lot of the inner workings of goldsilver.com and he does a fantastic job so a big shout out to ryan but he said yeah something in the universe just broke and something in the wall street financial elites universe did break today when they found themselves losing to the uh small investors the plankton of the financial world were suddenly ganging up and eating the sharks yeah that's good uh so robin hood claims that it was more of a clearinghouse issue and some of the


other and there were other brokerages that were impacted as well um they also claimed they're going to open up trading again tomorrow uh friday for that but hopefully possible is it a clearinghouse issue because i mean was it the clearinghouses doing something that needed to be done to stop the bleeding of these big hedge funds right now i'm on ino.com that does quotes and stuff and i'm at gamestock.com and it's got this crazy number that i don't understand maybe somebody that's better at math


than i am can explain it to me it says that the stock is currently down one thousand three hundred and thirty point two five percent which is impossible right if it's at a hundred and it it's down one hundred percent from a hundred if it's at a million it doesn't matter what the price is if it's down one hundred percent you've lost everything it's at zero right how can it be down one thousand three hundred and thirty percent but that's what it says i mean there's


there were huge declines so any of these big funds that were short that didn't have to cover uh that still hadn't reached their margin margin limits and stuff they could put on more shorts uh and then there's uh mysteriously the the what did you say was the problem again the uh they say it was the clearing house issue then suddenly the clearinghouse that works with these big funds all the time has a problem has a problem so my my biggest fear mike though is uh just today um nancy pelosi came


out and said we're gonna have to look into the uh gamestop issue uh us and congress she actually said congress and hurricane have to look into it so my fear is that the government is going to get more involved even though us retail investors are on the right side of this are and are in the right and have been very transparent by the way or the reddit users have been very transparent about what they want um yes and they're going to use it never let a good crisis go to waste they're going to use


this uh to create rules that that limit the retail investor more instead of giving him more freedom in this interview he's really standing up for the little guy and one of the things that he's talking about is how opaque all of the big hedge funds are and the private investor uh money these big accounts uh they don't have to disclose any of their positions uh and so all he wants is a level playing field for everybody but what they're going to do yes you're absolutely right jeff they're


going to use this as a way to limit the small investor even more and tilt the rules even more toward the institutionalizing the rape and pillage of the small investor yes yes that that's my biggest fear and i don't want to see them get any more involved than they already are in the markets you know especially the gold and silver markets of course but um any other advantages to this or disadvantages or anything else you want to comment on this movement that seems to have sprung up here just


suddenly mike well there's a couple of things you know this it's this is stuff to learn from and you've got to look at things like this that have happened in history and there are a number of them uh first you know pelosi says we'll be uh reviewing the issue they they changed in order to stop this they changed margin requirements restricted assets as access uh blocking position building and widespread common condemnation of it and this is caused so after they change the rules the the price of this stock has has


plummeted and any of these hedge funds that added more shorts at the top are probably now in a profit and that profit comes at the expense of the small investors that were uh you know they were uh switching the tables they were they were the shoe was on the other foot for a little while the small investor got to rape and pillage the uh the big hedge funds and so on just for a little while it's very exciting to see and then uh there's it led to discussions on the biggest short squeeze in the world


is basically silver and uh you know they're talking about slv and uh some of these other funds and stuff but one of the things that i see is uh the this article on reddit where they're trying to encourage a silver short squeeze uh they're saying that the amount of physical silver the the uh ratio of physical silver to the paper trading that's going on and all of the um the manipulation is the manipulation is many many many many it's a bigger short opportunity than gamestop was


actually and this is true but it is a lot bigger market and it takes uh it would take a lot more catch from the uh small investment community than it took to do this with gamestop and so uh for me and i'm not saying this as a precious metals dealer i'm saying this as an investor in the position that i've always taken is i don't play with any of the uh derivatives of physical gold and silver such as slv gld uh futures options uh well gld isn't silver that's cool but i stick with physical silver and the


more physical silver you can take away from the market the more vulnerable that this manipulation becomes to a penetration like this and when it does it'll skyrocket and they're talking about silver going from 25 bucks to 1 000 here uh you know and i've basically been saying this for many many years back in uh 2005 i think it was i went up to an event in dawson canada up in the arctic circle where the klondike gold rush was it's called gold rush 21 and there were representatives from many


countries and uh this was to try and end the gold manipulation and john embry was speaking john amber i loved john ambry he used to be with sprott asset management he was one of their and chief investment strategist at spot spot asset management and um uh he had was finishing up a talk and at the end there were some questions and answers and i stood up and i said uh john could the men in this room by buying physical gold uh and the gold manipulation he said no and i said could the men in this and one


woman stood up and said hey men and women could the men and women in this room uh end the gold manipulation by buying silver and exposing the silver manipulation and therefore it would overflow into gold and he said yes we could absolutely do that except this was a meeting on how to expose the gold manipulation and nobody else in the room liked that idea because it had to do with silver but it was interesting i mean that goes back to 2005 trying to end this now one day it will come to an end we're getting to


a very tippy point in this uh economy that's a total illusion at this point uh the the federal reserve has created this uh this chimura shamira whatever you call it uh this illusion of an economy that's doing well and it isn't um you know one of the things uh in this uh short squeeze the limits on trading that they put where you can't go along you can only close out position i want to encourage everybody to go and watch a video that i did a while ago called the surprising truth about 50 silver


and the hunt brothers and in this interview i did make a couple of mistakes and i said gold and my mind was thinking silver but gold came out of my mouth but basically the hunt brothers i believe were used as scapegoats i interviewed jeff christian years ago a cpm group he said and he's one of the experts on this and he said the han brothers at most uh added 50 to 75 cents to the silver price so when people say oh yeah 1980 that was when the hunt brothers drove silver up to 50 bucks no that was watch this video there's


lots of evidence of this the hunt brothers used were used in scapegoats to stop the runaway in gold which threatens all fiat currencies and we did come close to losing the u.s dollar way back then and um another video that i would really like to point people to i did a video a little while back called 1929 versus now and john hussman tweeted out today and he wrote about the tragedy of how the fed is encouraging a market where investors don't consider price in the event investment process anymore


so they're not considering what the value is and he put up a quote from benjamin graham who was a famous stock trader back in the 20s and 30s and david l dodd securities analysts and this is from 1934 and it says during the latter stage of the bull market culminating in 1929 the public acquired a completely different attitude toward the investment merits of common stocks why did the investment investing public turn its attention from dividends from asset values from the average earnings to transfer it


almost exclusively to the earnings trend the trend being on to the change in earnings expected in the future the answer was first that the records of the past were providing an undependable guide to investment and that's exactly what's going on today this was written in 1934 so to analyzing things logically has no uh correlation with what the stock market is doing these days and second that the rewards offered by the future had become irresistibly alluring and that is exactly what is happening today


and that's exactly what led to the crash of 21. that led to the blow off top the peak of the stock market and then the crash and so we're seeing all of this and what will happen is as investors seek safety it's going to cause gold and silver to go up and silver has such a short interest compared to the amount of available inventory to deliver it's it's uh it's one of the great opportunities so uh give me your thoughts on that well yeah i agree um and short covering for those who don't know basically there


are investors that have went short on a security or a stock or whatever and a short squeeze is when enough people go long and drive the price up some of those shorts are forced to cover which means they have to buy the stock and like that's awesome their losses because they're bleeding and they got to stop the bleeding so they have to buy it back and that causes it to go higher when they buy right and and then other people that are short have to cover because it keeps on going up and up and up right so that's what a


short squeeze it it can push the price higher of any security than it would otherwise normally go so just real quick on first majestic silver i said we would mention that they had a short squeeze as well today now we're bullion dealers uh full disclosure i own the stock but we don't recommend it to anyone or anything like that but it had a very interesting short squeeze you can see in the chart i think dan will throw up for us that it was at record high levels in its short positions and it got on the reddit boards as well


last night it jumped in the after hours it jumped up today uh big time it ended the day up uh 21 so with such a large short position that can drive the stock as well and and that's what happened to them they also had a favorable uh ruling down in mexico they have a tax issue there um i tweeted out about that um it's just round one but they said they're not going to be criminally charged that was a positive for the stock because when that probably added to the momentum so again we're not recommending this stock


but that's what happened to it and i know a lot of people own it um and so we thought we'd comment on as well so well mike we don't want to go on too much uh longer here it's been a long video but uh thank you for joining me and um uh we live in interesting times don't we we definitely do jeff thank you so much uh it's it has been a phenomenal day and it has been rewarding uh seeing the small investors uh suddenly take control and cause wall street to be in a defensive position and i mean


we we have shaken up their world uh ryan was right when something in the universe just broke yes right and uh that process is probably not over so okay mike thank you very much and we'll see you on the next video okay thank you jeff