one thing that I wanted to point out so so we're currently up here at about five and a third percent is I don't know if you can see this but there's a like our our little tiny herd of horses walking right behind me here adorable I love it that's the place to [Music] be hello from the ranch I've got Alan Hibbard with me once again and we're trying something new it's a weekly wrapup Allan how are you doing I'm great Mike thanks how are you great great so what have you you're the one presenting


this and I haven't seen any of it yet so go ahead and and uh hit me yeah all right Mike sounds good you just sit back and relax at the ranch I I'll tell you I'll tell you what happened this week so so so first of all I want to start with the number of the week and that is 2,000 2000 because because gold hit $2,000 an ounce this week uh we're recording this uh Friday afternoon markets still haven't closed so it it remains to be seen whether gold will close higher or lower but gold did touch $22,000 a


couple times this week any thoughts on that well I would imagine uh that they'll I you know if it's manipulated they're going to try and smash it down so it closes below 2,000 they don't want to close higher than that but you know they the real um number to get past is I believe 270 right is that the there's the to to start setting new highs we got to get to 2802 2080 2090 uh to start setting new Highs but we are so close to those highs uh if anything goes wrong in the world and


there's a lot going wrong then uh we could be seeing some uh brand new highs and that and we're already seeing new highs in almost all currencies except measured in US Dollars and so uh the US dollar is like the last one we need to uh join the party here and I think you're going to see gold giving some spectacular returns I'm actually hoping it does a further pullback everybody hates it when I say that but uh I would like some time yeah exactly if you're not done buying you want lower prices so you can finish


allocating uh before a big slingshot move and that actually is exactly what central banks are benefiting from and that leads us to the Tweet of the day this comes from David Morgan he says central banks bought 77 tons of gold in September 337 tons in Q3 that comes from the world gold Council uh so yeah central banks are buying they have not finished allocating their position and this is a major turnaround from a trend of several decades ago when central banks were unloading gold now they're


stocking up so what are your thoughts on that well this is all the uh this this isn't the West doing this this is usually the the East the West isn't buying they're not really selling either they're just uh uh sitting tight but uh you know I think Dave's uh tweet there says that what else needs to be said you know this is it they're buying and uh so you know I I wish I had more extra cash right now I don't uh but I'm I'm pretty fully invested at this point so uh but


yes it it shows that um the central banks view gold is now a tier one asset for central banks it's uh you know considered as safe as Sovereign bonds but it's it's even safer there's no counterparty so it is the foundation and there's a lot of central banks that don't have enough gold so anyway any thoughts that you've got on it um I agree with you and uh speaking of extra cash that actually leads us in there this really fun F because you didn't know any of this ahead of time but it


leads nicely into the news of the week the headline of the week Japan approves 110 billion dollar stimulus package to fight inflation which I just think is just so fantastic I mean it's like we're living in a a dystopian fiction novel um this is 1984 and newe I think they called it I can't remember but uh you know this is they're twisting the language uh to where I mean how much of the language has been Twisted since 2020 began I mean we have it's like a a totally different world uh so


yeah everything is crazy it is everything everything is crazy um okay next thing I want to show you is the chart of the week and this is a chart of the FED funds rate so we've seen this plenty of times and the reason I'm bringing it up this week is because the Federal Reserve decided to keep R where they are um and one thing that I wanted to point out so so we're currently up here at about 5 and A3 per is I I don't know if you can see this but there's a like our our little tiny herd of horses walking right behind


me here adorable I love it that's the place to be yeah so um okay so any anyways um one thing I wanted to point out with with the FED funds rate is that they when they raise rates they do so slowly and in a controlled fashion and then you know they're sort of a rounded top or a flat top and then it descends quickly and chaotically in the middle of a recession and it it feels very out of control to me that's what it feels like I I want to point out something too on that same spot that you're looking at hi


I just wanted to take a moment and thank you for subscribing and mention that if you'd like to help our Channel please consider my company goldsilver.com the next time you buy precious metals we're one of the most trusted names in the industry our prices are sharp delivery is fast and we have an insiders program where you find out exactly what I'm doing with my own Investments thanks for making goldsilver.com your dealer and now back to the video they know that a recession is coming they started uh


cutting rates uh long before the gray bar there the the official recession bar and so they knew that the econ there was something really wrong in the economy and they started bringing them down in an emergency can you go back to the year 2000 also take the slider at the bottom and yeah because I think it shows the same thing that um it didn't update taking a minute to load here yeah yeah see it started they they start lowering rates before uh the recession actually starts so they know that something is going wrong in the


economy so they pause it knowing that they've probably gone too far and that they're they're going to cause a recession and then when it finally happens they uh start slamming rates down ahead of the official announcement of the recession it's been look at that I mean even the coid crash uh they knew that something was up and that have there was something I can't remember what it was but something happened in the repo markets the repurchase agreements that the Fed was intervening in and um and they


started taking down rates because the FED caused a big problem there and um so anyway yeah phenomenal so exactly is if that same pattern emerges here and and the FED holds rates constant for maybe the next year or so and then starts lowering rates we can anticipate that we're headed for a recession so or some sort of giant crisis because that's what I think it's going to be it's not just going to be a regular recession there's going to be a full-blown you know financial crisis currency crisis some


sort of big crisis uh and it could be accompanied by uh even larger scale Wars than what we've got going on right now I hope not but anyway yeah yeah exactly all right well moving right along I have the website of the week which of course is goldsilver.com everyone can find uh all the latest news uh Cameron spends a lot of time and energy compiling all these for us um there there's great things here you know China spearheads verious central bank gold buying to cut dollar dependence so like you said Mike um countries in the


East are buying gold um just like what we talked about and here's what might happen next as $2,000 gold is just the beginning there's all kinds of great articles here I encourage everyone to check them out excellent okay and finally the last thing is the product of the week uh in this case it is the 1 o American Gold Eagle coin the 1 o American Gold Eagle coin this is the first bit of gold or silver that I ever bought myself many years ago I think it was 2015 and it was only 1,200 bucks now


it's now it's 2100 this is this is how I got started with precious metals it's such a classic uh way to get started I I just had to choose it as as the first product of the week I got started with a whole tube of gold the spot price was uh 315 and the the Gold Eagles that I bought cost me $325 each and so that was October of 2002 I believe and so I've been riding this thing for a long time there was a um I think I mentioned it in a previous video but there's a a channel called


financial sense.com and they've got a YouTube channel as well well and Jim pava uh said that the toughest thing is to not let when you discover a brand new bull market the toughest thing is to ride that bull and not let it Buck you off its back and I just was determined from the and so I'm still uh riding this thing uh through every pullback and uh you know so from $325 Eagles to $2,000 Eagles I've done pretty darn well yeah that's almost 7X yeah right but like Dave Morgan always


said 80% of the move comes in the last 20% of the time and I think we're there this is going to happen in just uh the next couple of years the 80 and I really believe that we're going to be seeing uh gold well north of $5,000 an ounce probably up 10,000 or even higher and uh that will put silver up in the triple digits so uh it's going to be a wild and fun ride over the next couple of years yes and as you say uh at that last end of the bull market gold and silver become unaff forum and unobtainium so


definitely I would encourage everyone not to wait until there's crazy upward momentum take your position now because otherwise you're not going to be able to get get a hold of these things and before investing in any paper goals uh futures or options or uh the ETFs investigate them fully and then you're going to buy physical want something that you can hold in your hand if you want I mean it's fine to have it in an insured storage account but uh you don't want uh something where a whole bunch of


different people think they own the same ouns of gold because when the Music Stops there's only a couple of chairs left that's right okay well yeah that's it Mike don't want to take up any more of your time I'll let you get back to the ranch thanks I want to tell everybody like And subscribe and thank you very much for watching this video we'll see you next time hi I just wanted to tell you about gold Silver's 111 ounce silver giveaway where you can win win win 11 one one 1 oz silver bar one


10 oz silver bar and one 100 o silver bar so enter today and win