[music] uh we got to get into a euphoric phase and then it creates a sharp drop and the question is you know is it going to be the start of a bigger sell-off or or a bull market and so the euphoric phase it I have tools and indicators and and ways to identify this and when we see it man it is like get ready manage your positions because things turn around on a dime and uh price price can drop and collapse, but no, I'm not selling my silver yet. I'm still holding on to it. I'm still think we're going to make a lot more on it. I think gold is a must own asset, and I wish I didn't have to say that. Uh gold has served its purpose for at least a thousand years, but likely longer, as being both a medium of exchange and a store of value. Gold does well during periods of time when people are concerned about the maintenance of their purchasing power in fiat denominated instruments. We've already talked about why people need to be concerned about that because there's a guarantee that your purchasing power in fiat savings instruments deteriorates with gold at least you have a chance. When you look at some of these other pullbacks they're like 88% uh depending where you want to grab them 70%. So there there's no doubt even in 2008 uh when the gold pulled back 34% silver fell over 60%. It's just a really fastm moving asset, right? It's more speculative. And in general, something that's more speculative is more volatile, which means it sparks more emotions, which means, and this is the number one problem with traders and self-directed investors, is emotions get the better of them, and they chase prices. They buy high and then they panic out as it sells off. They make difficult emotional decisions. And so, it creates more volatility, bigger bigger gains, bigger losses, these these volatile assets. And so I do think eventually we could see a fairly big pullback. Uh I mean I you know you could potentially come back all the way down to the 27 which nobody wants to see but that's that's what's happened you know in the past many times. Uh a lot of people are going to say this time is different which every time it's different. Um but definitely the central banks loading up is obviously a big concern that um people know something that we may the general public may not although we already know everything's corrupt and and broken. So physical metals is a good store of value compared to fiat currencies. But um there will be a bigger percentage pullback probably nearly twice as much of gold. And the question is just where is the top and how does price play out over the next few months here. >> The biggest enemy for most investors isn't the market itself but human psychology. People chase prices higher when momentum builds then panic when markets pull back. This behavior fuels exaggerated booms followed by sharp corrections. Market tops are rarely quiet. They usually form during periods of euphoria when doubt disappears and even mild caution is met with hostility. That's often a sign markets are nearing exhaustion. We've seen this pattern repeatedly in precious metals. Powerful rallies followed by necessary pullbacks. Those pullbacks don't end bull markets, they reset them. The key is knowing when healthy optimism turns into irrational certainty. >> I'm look I'm looking I'm getting ready to I have I have Sprout on speed dial. [laughter] So I'm not there yet. I have talked to them. I'm like just make sure I have everything set up. So when I want to just, you know, start to liquidate some of my physical metals, it's super easy, which it is. It's just a quick phone call. Um I haven't sold any yet. I'm I'm waiting for the blowoff move. We're still actually in a full-on rally mode, right? like I'm excited about higher pricing. I want to see higher pricing. But when things start to when you cut the air with a knife with a sentiment and if you say one little thing negative about precious metals, you get your head sliced off. You we're not quite there yet anymore. We're believe it or not, we actually had that scenario right um we had that when gold and silver were trading right at this phase here not that long ago. So we had gold hit our measured move target right here. And this phase right here was a crazy FOMO phase. And I was telling everybody, I'm like, listen, we're we're about to see some sharp pullback because everybody is going nuts right here. Uh, everybody's piling in. It's the crowded trade. And if you say one little thing about metals, you're you're a dead man online, right? And so then we we had that correction. And so now we're nowhere near it. The market has just cleansed itself. And now we need another big run which is about an 18 19% run in gold which is probably who knows how high that is in silver but we need to get back into this euphoric phase and you and I have touched on this a few times in the past that the market participant emotions here. uh we got to get into a euphoric phase and then it creates a sharp drop and the question is you know is it going to be the start of a bigger sell-off or or a bull market and so the euphoric phase it I have tools and indicators and and ways to identify this and when we see it man it is like get ready manage your positions because things turn around on a dime uh price price can drop and collapse but >> no I'm not selling my silver yet I'm still holding on to it I'm still thinking we're going to make a lot more. >> One signal continues to stand out clearly. Central banks are buying gold at an aggressive pace. That fact alone speaks volumes. Gold tends to perform best when confidence in fiat systems begins to weaken. Inflation, rising debt, and ongoing currency debasement all point toward a long-term erosion of purchasing power. Gold doesn't promise quick profits. It offers protection. For more than a thousand years, it has preserved value through wars, financial collapses, and monetary elites. Today's environment is no different. Gold functions as financial insurance. It doesn't remove risk, but it provides a safeguard against systemic instability that paper assets simply can't match. >> I think gold is a must own asset, and I wish I didn't have to say that. Uh, gold has served its purpose for at least a thousand years, but likely longer, as being both a medium of exchange and a store of value. Gold does well during periods of time when people are concerned about the maintenance of their purchasing power in fiat denominated instruments. We've already talked about why people need to be concerned about that. Because there's a guarantee that your purchasing power in fiat savings instruments deteriorates. With gold, at least you have a chance. uh and it has evidenced uh itself as a superior store of value for at least a thousand years. Importantly too, with the advent of technology, gold is becoming at once uh a medium a store of value and a medium of exchange. And let me explain. When you, Daryl, go to buy physical gold at a dealer, uh, whether or not it's in the state of Washington or not, you're probably paying a 3% premium on the buy side and a 3% premium on the sell side. In other words, your transaction cost is 6%. uh but increasingly with the availability of uh digital coins representing gold deposit receipts at places like Tether and elsewhere uh you will be able to do that same transactions for fractions of a percent which means that you will again be able to use gold as money you'll be able to go to Starbucks uh and buy a cup of coffee in in gold and Starbucks will be able to aggregate all of those fractional payments and if they wish uh surrender those coins for physical gold which means that gold increasingly in the future will be at once a medium of exchange and a store of value which is another reason why I think you have to own gold on the one hand uh to defend yourself and on the other hand as a recognition of the fact that gold will once again fulfill a role in societ society that it hasn't fulfilled since the 1800s, which is to say simultaneously a medium of exchange and a store of value. It's very difficult for me to understand why a rational human being wouldn't have a substantial gold portfolio. >> Don't miss what comes next. Subscribe now.