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 I just show the scale of all of the bubbles that are out there and that we have been in the bubble century and people think it's normal the markets and real estate have a lot further to go to crash not a little people that say well I'll go down another 20 or 50 percent no it's going to be a lot worse than that hi everyone I'm Mike Maloney from goldsilver.com and I just released a book The Great gold and silver Rush of the 21st century I want to thank Adam for putting on yet another great uh

seminar and I've got a presentation for you that I think you're really going to enjoy I think you know I'm going to show a little bit of the banking structure uh the the bank crisis then how uh the Banks Banks are structured so that you understand a little bit more about this banking crisis and why it's happening I'm going to give you a little preview of my book and I'm sort of going to close by showing you that yes we sort of have passed the point of no return our politicians can no longer borrow their

way to Prosperity uh they we're at a point where there's going to be major major changes in the future we're not going to just recover out of this recession that is coming and then go on like like it was after 2008 and we had this big debt-based party uh and then I'm going to make an airtight case for gold and silver I think you're going to enjoy so Dan if you can put my screen up for me uh these are the unrealized gains or losses on investment Securities at the banks and this is all of the FDIC

banks in total now I did a little research and it said that there were uh there was uh 4 200 FDIC insured banking institutions but of those 4 200 last year 4 800 of them reported and so there's about 4 800 a little less than five thousand but if you take a look at this this was the crisis of 2008 but with Powell's rate increases it has cost law losses all banks hold in their portfolio a certain amount of bonds and the Securities that they're talking about here are U.S treasuries and

mortgage-backed securities uh not all of them hold mortgage-backed Securities pretty much every Bank holds some sort of U.S treasuries but these are the losses there so instead of 75 billion it's 675 billion so I'm going to move on to the next thing here this was a report that a bunch of PhD economists did after it was done uh after uh the Silicon Valley bank failure and when everything hit in the news so they did that over the weekend they came out with it in the 15th I'm sorry the 13th so it's it's

basically analyzing something after the fact and you really want to start following people that anticipate what is going to happen in the future and the only way that I've found to do that is to look at the fundamental fundamental structure the numbers uh to stare at balance sheets and charts on the Federal Reserves uh banking so you know on their educational system the Fred and uh try to figure out how things work and what instabilities are in the system but anyway they say that the banking

system's market value of assets is two trillion dollars trillion lower than suggested by their book so this is all of the banks in agrid Mark to market the assets have declined by an average of 10 percent across all of the banks with the bottom fifth percentile which is the bottom twenty percent experiencing a decline of twenty percent ten percent of the banks which is a little bit I put this in here that's a little bit less than 500 banks have larger unrecognized losses than those at Silicon Valley Bank

so their their uh U.S treasuries and possibly mortgage-backed Securities are underwater even further than at SP svb with 10 percent of banks that's again a little less than 500 having lower capitalization than to back them up than svb so these banks are in worse condition that way on the other hand svb had a disproportional share of uninsured funding that means they weren't hedged for this interest rate risk where uh most banks are only one percent of banks but that is still 50 Banks and those 50

banks are most likely inside these 500 that have worse balance sheets than svb so we potentially it's it this is I'm not saying this is going to happen but there is potentially this wave of bank failures coming so let's take a look at two thousand uh the financial of 2008 and how that played out April 2007 New Century Financial went bankrupt September 2007 there were Bank runs at England's Northern Rock uh then in March of 2008 bear Stearns collapsed this was the inflection point so the other two

were just considered these uh accidents that happened that were annoyances they weren't at the time we didn't consider them canaries in the coal in the mine uh now uh with bear Stearns we can see that these were little precursor events leading up to something and there was something genuinely wrong in the whole financial sector and uh then in July IndyMac and Countrywide Financial collapse and they were actually Bank runs at Countrywide which is uh in the west where I was and that really started

the ball rolling so you have here uh five months six months and three or four months and then the next month uh in on I'm putting the day in here now because this is going to speed up Fannie Mae and Freddie Mac were nationalized and it was because of this Countrywide IndyMac uh collapse they had to nationalize Fannie Mae and Freddie Mac uh September 15th so you're only talking about one week later Lehman Brothers largest bankruptcy in history the next day AIG gets bailed out a little over a

week later my Washington Mutual collapses uh a month later now it slows down a little but look at how these things just keep on coming month after month October fed uh unveils its troubled asset relief program and commit 700 billion dollars in taxpayer funds now this is a private Corporation committing taxpayer funds somehow to the banks this always just cracks me up I'm sorry November the next month citigroups get it gets bailed out December General Motors and Chrysler get bailouts of 80.7

billion dollars the next month Bank of America gets bailed out for 20 billion dollars the next month President Obama and approves a 787 billion dollar stimulus then we get a little bit of a break before General Motors who had just gotten bailed out files for bankruptcy and closes 14 factories laying off thousands of workers which were a small contributing factor to October's 10 percent unemployment report and to end the year there was a record of 2.9 Million real estate foreclosures that year nothing close had ever happened

before now why is all of this happening let's take a look the it's it's basically because we're inside of this really evil monetary system and you have to really dissect it and understand what's going on uh to be able to see why it's evil but it's sort of like uh everybody is in The Matrix and the only way to take the red pill and get it out of the Matrix and be able to see the Matrix from the outside is to dig way deep into things like the Federal Reserve Act so here is their section 14

on open market market operations this is a page from my book and it says hint if you want to know the true meaning read only the red words to buy and sell bonds and notes of the United States issued in anticipation of collection of taxes this is the biggie this is what underpins what backs our currency the whole currency system is backed by the extraction of work hours out of you the public in the future so uh the they're issued in anticipation of collection of taxes or other obligations which are

direct obligations of the United States or which are fully guaranteed by the United States as to the principle and interest so that that's what the Federal Reserve buys to back the currency but what if the United States is guaranteeing it I mean how does the United States guarantee it they guarantee it by extracting taxes out of you so it isn't the United States guaranteeing it it's you guaranteeing the dollars in your pocket uh and then those bonds now there's a big opportunity right now in bond eventually

the FED will pivot and bonds will go way up and it'll there will be a big payoff and a U.S treasury is the safest bond that there is uh because the reason it's safe it's different corporate bond Corporation says loan me some cash right now and I promise that I'm going to create goods and services that are going to help the economy people are going to want to buy this and with the profits I'm going to pay you back in the future when the treasury issues a bond they're saying this is the safest uh investment

that you can make we are absolutely going to pay you back because if you learn us some currency now we're going to hold a gun to somebody's head in the future and extract taxes out of them they may not hold a gun but they still threaten you with jail time uh and remember that the root word of bond bond is the root word of bondage and um this is a market that I can't participate in uh simply maybe my moral compass is turned up too high but I just I think everybody should know what they're doing when they do it and when

you buy a U.S treasury any sovereign debt you are buying the enslavement you're participating in a market you're making a market for the enslavement of a population because the the payoff out of it has to come from your future work hours your children's Futures work hours and your grandchildren's future work hours that's what supports our national debt that's what supports all of the that's what backs the currency um so in your bank account the bank of England says this our remind reminder

digits that remind the bank that it owes you a certain number of ious and the ious that it owes you are Central Bank ious the paper notes and so uh uh what what backs those paper notes what are those treasury bills notes and bonds they're an IOU which promises to pay the bearer of the IOU your future taxes uh the entire world monetary system can be summed up in just six letters i o u y o u so i o u u the whole system is totally insane investigate it for yourself dig as deep as you can buy my book got the great

gold and silver Rush of the 21st century there's only about the last third of it that is about uh gold and silver everything else is about what's wrong with the economy the study of currency is what uh John gonna John Kenneth Galbraith meant but the study of money he says above all other fields of Economics is one in which complexity is used to disguise truth or to evade truth not to reveal it this is absolutely true but you can dig deep uh by my book and verify all of these things for yourself

there's it's got a whole bunch of endnotes it was researched for years and years by you know it was me and the team I had people working with me this is out of the end of chapter four showing that the stock market we're on life support for the entire time since 2008 and the stock markets fool the economy into thinking well the economy's back but this was all Financial engineering no goods and services created no true wealth uh and so what you have here is the the monetary base so that's base

currency paper dollars in your wallet and Bank Reserves interest paid on reserves when they did QE all these massive quantities of reserves got stuck in the bank's Reserve accounts and Ben Bernanke decided we had to pay interest on them uh and then uh treasury bill purchases during the uh the repurchase agreement crisis in late 2019 and what you see here uh is these things line up perfectly and then the correlations now this is Microsoft Excel making these core correlations 0.989 point 0.97 for it now remember

that a correlation of one means they're exactly the same correlation of Zero no discernible relationship correlation of minus one means they're the opposite so 0.989 means it's 98.9 percent the same uh this is QE 1 2 and 3 at 97.4 percent the same in other words when they created ten percent more base currency the stock market Rose by 10 percent if they've created 20 more base currency stock market Rose by twenty percent point nine four four point nine seven six the lowest is point nine two nine

because uh during the covid crash they pumped a bunch of currency into the system and for a little while they went opposite directions but if you stop start your measurement after that uh where where things were going opposite directions it's 0.961 so they say that correlation is not necessarily causation but I want to say that conflation of correlation with causation is worth consideration this is um sorry I've got to do something here this is the Fed funds rate is the blue and the gross federal debt as a

percentage of GDP is in red and what we see here is uh chairman Powell trying to raise rates at the fastest Pace in history nothing like this had ever happened he thinks he's going to be able to get tough on inflation and be a pole Volker well look at where the federal debt to GDP had dropped to it was 31 to 33 percent when Powell decided to slam interest rates and on a daily this goes up to like 22 percent uh not Powell uh Paul volcker and uh now uh Powell is is absolutely trapped one of the reasons

that he's strapped at these uh when there wasn't that much debt it was easy uh to raise interest rates without causing the payments that we make on the national debt to basically break the bank break the treasury uh here is the interest on the national debt the size of the yearly payments and it was 600 billion before Powell started raising this and now it's 850 billion so he added 250 bill by raising rates the amount that the U.S government has to pay out of our taxes went up by 250

billion but let's zoom in on that a little bit and what you'll see is that data this is quarterly data and we have yet to even get the final uh this is quarterly as of the end of their fiscal year September 30 but we don't have data to the end of 2022 yet the rate then was at three percent so we've piled on all every day they roll over treasuries that are coming due there's about two auctions every single day so this thing is going exponential right now uh they are absolutely trapped he's going to

have to Pivot uh something I you know I've been saying for about eight months that something will break and then I will say it looks like that that uh Powell is just going to continue raising until something does break and I've been saying that for about six months uh check out some of my old YouTube videos especially the uh the last three of 2022 that's a series that started it's part of a warning to the fed this is the stock market versus current government tax receipts in my book update in 2015 I

came out with SEP with something called the financialization of government the dangerous fog fog uh and most people don't see this stuff and so anyway um before this is the crash of 1987. if I zoomed up on that you'd see that this is huge there was no relationship with the uh revenues that the government gets from taxes in fact taxes Rose the year after that crash but since the financialization of government whenever the stock market crashes now this is the crash of 2000 uh tax revenues go right

along for the ride and then this is the crisis of 08 then there's this disconnect here where the stock the wealth in the stock market is running way ahead of the tax revenues but the problem is our politicians when they decide to create a budget and they extrapolate the growth in those tax revenues infinitely out into the future they have never plugged in well what happens if tax revenues fall that has never happened so the next chart is basically the same chart but I've added the budget deficit slash Surplus this

Surplus wasn't real if you look at the change in national debt it wasn't real it's Creative Accounting but as soon as the stock market crashed in tax revenues fell Surplus the the deficit exploded same thing in 2008 it exploded uh the coveted crash and uh and the contraction of GDP uh is uh causes this to be skewed a little bit differently but the next time we've already planned the politicians are planning on spending 100 1.4 trillion dollars more than their income that's the budget deficit the

actual Surplus or deficit fiscal deficit will be much much much worse than that at the end of the year so the Federal Reserve is about to launch an instant payment service called fed now in July and this is the gateway to their Central Bank digital currency which I believe is uh just an evil beyond all evil uh get my book uh great gold and silver Rush of the 21st century a lot of what you have seen is in my chapter four which is free online just go to ggsr Great gold and silver Rush 21.com ggsr21.com uh read it there or download

it as a PDF send it to anybody you want it's free chapters three and four uh quick a couple of uh charts from chapter five which is in the book not online for free I just show the scale of all of the bubbles that are out there and that we have been in the bubble century and people think it's normal the markets and real estate have a lot further to go to crash not a little people that say well I'll go down another 20 or 50 no it's going to be a lot worse than that uh this is how many work hours to buy the s

p this goes all the way back to 1860 and you can see yes we were in the bubble century and you've gotten used to it this is the Buffett indicator a lot of people look at this this was made yesterday on the fed's website uh but a lot of people look at this and say well the up tilt over time is because the markets are getting more efficient baloney uh I have data that goes back further this is also from the fed's uh data and this goes back to I think 47 and uh I want you to notice the three

bubble peak in this century and then the dip in 1980 and the bump in the 70s and 60s uh because you'll see it in other charts now this is the the data that most people have access to uh this is as far back as anybody has been able to create a Buffett indicator but I had my researchers uh one of them was we just had to go really deep to find data going back further than this this is 74 years we can get a better perspective if we add another 70 if we add another 70 years to it sorry about that this is uh two uh European

economists that did a study on 17 advanced economies going back to 1870 and yes we are in the bubble Century the market this is going to change it's going to come back down to reality so strap in for this because this is going to be some the coming recession that we're going into and the banking crises are going to lead to a loss of confidence in the financial system in all of these uh overpriced Investments but what one of the things to worry about zombie companies are companies that can't afford to pay the interest on

the debt that they own not just the principal but the interest out of current cash flow before 2000 it was about three and a half percent and then it exploded with the contraction of GDP after the crash of 2000 that's what causes this to go up and then the economy gets better companies start making profits again and then the crisis of 2008 caused this to explode but then zero percent interest encouraged all of these companies during this time when they should have recovered to just walk a really dangerous line to where now

twenty percent this is one in every five companies that could be going bankrupt in this next Crisis can you imagine driving down a downtown Street in your area and one out of every five stories is boarded up uh I'm not saying that's what it's going to look like but that's the picture I have in my mind when I see this chart are we past the point of no return uh I asked my researchers uh if for every dollar we borrow how much do we get back and for every dollar we borrowed after World War II we used to

get between six and eight dollars worth of growth but that has declined as we built up debt and we owe so much interest since 2008 its average of 50 contraction we get we borrow a dollar we get 50 cents worth of growth but we're a dollar deeper in debt this is a formula for bankruptcy have we passed the point of no return absolutely uh now the 70s bull market in Precious Metals was the biggest bull market in history to that date cryptocurrencies have outshined that since but not by a whole I mean yes

by a whole lot but uh before that was a brand new asset class uh it's the first new asset class I believe since the year 900 when bonds started being traded uh and so uh yeah yes when you're starting at Zero from zero to one is an infinite return and so that has been the biggest bull market in history but before that it was gold and silver in the 70s and in just eight and a half years gold went up 25 times its original price silver 41 times this is real estate uh here and this is the stock market here and what I

did was I started all of these not at a specific date but at their very lowest price of that decade to give them the maximum advantage and then I ended them all the day that gold and silver peaked in January of 1980. so gold has been the best investment of this Century as far as something that is a a total asset class that is uh solid that and you can hold it in your hand it has no counterparty risk and it can't go bankrupt so here it is compared to the S P 500 so so anybody that thinks anybody

that invests in gold is wearing a tinfoil hat well break out the tin foil I want to make as many hats as possible this is today versus 1980 so in 1980 from 1982 today there are 18 times more people around the world that can buy gold and silver uh under in in the USSR uh the Warsaw Pact Eastern Bloc countries China undermount it was illegal to buy gold and uh to own gold and there were no exchanges the people that drove the price up 25 times on gold 41 times on Silver are the people that had access to buy gold where it was

coming off of an exchange because the exchange sets the worldwide spot price in the first half sorry in the first half of the 70s it was just Western Europe and Canada then in 75 it became legal to own gold in the United States 76 uh so it's 76 Australia and so um by 1980 10 of the world's population could participate um and today uh we've got billionaires in Africa in India South America everywhere around the world there are now billionaires and everybody except for North Korea can participate in this

market it is 18 times the size of the population they have 50 according to the uh Organization for economic development and cooperation the oecd there is 55 times more currency on the planet that can come chasing gold and silver there's 56 times more millionaires 200 times more billionaires 220 times more available Consumer Credit 31.5 times more assets under management 49 times greater stock market capitalization there's only two times more gold and so when you take I a lot of these like

these millionaires are part of the people that have 55 times more currency and so are the billionaires and they're both part of the people that have assets under management and stocks and so uh to eliminate double counting I just took this and rounded it down to 50 and said if 50 there's 25 times more units of currency per ounce of gold that could come chasing gold and silver this time around so this is going to be huge um so go to ggsr21.com and get my book and look at those free chapters first if you want

um so this is a roadmap to both protection and I believe profit now I am the only the only way to get what I offer here I have an insiders program where I tell all of my customers so you have to actually go to goldsilver.com create an account and uh if you buy from us then one of the things you get is this insiders program if you make a qualifying purchase and The Insider's program is I come out with videos once in a while if I make any move in my personal Investments I let you know what it is and why I did it

I don't give any advice ever I just tell people what I see and what things are and I've done very well on my precious metals purchases and I have 23 different indicators that I'm evaluating right now as to uh looking for when to sell that's the important thing you do not want to allow emotion to guide your investment decisions it's got to be based on numbers and by back testing these uh indicators I've already found a few that just it's like oh you you see January 1980 or that particular week and it's

just like oh my God it's it was uh and so what I'm trying to do is when gold and silver go into their blow off top I'm trying to catch uh tranches of sails around that top 20 percent then 20 of the remainder 20 of the remainder by doing that I will never run out there's always a remainder and if you can catch that if anybody catches that top exactly they were lucky if they say they can right now they're lying uh but I do believe using numbers that I can get people in and out and capture most of

this gigantic move that is ahead of us so and to get that the only way that you can get it is by creating account on goldsilver.com and buying something there this insta Vault program uh you're buying we we offer uh gold and silver in your IRA gold and silver delivered to your door or we can open a storage account for you at Brinks secure in several locations around the world and uh and it's guarded with guys with guns these are the highest security vaults that you can have that have lasers and

seismic detectors and everything else but it's also got a bunch of guys with guns guarding it so that's what I do with mine makes me feel safe more than half of my net worth is in Precious Metals I want to thank you for watching and thank you very much Adam for hosting this conference we'll see you next time