gold news

 I'm here at Rebel Capitalist Live once again and I just got asked a question by a couple of attendees and it's an interesting question. But first, uh, tell the audience your names. Jim and Teddy Woodhouse. Okay. And they're from Australia and there has been both the US dollar price rise in gold and silver and exchange rate changes. So tell us about what has happened and then ask me your question. Oh, well, I think we've certainly seen a good uptick in in silver and gold, especially gold compared to the

Australian dollar. So, it's uh it's good to see. Yeah. And I was I was just saying to Mike before um you know, my father put me onto his videos way back in 20145 and uh from an Australian point of view, that was the the very bottom. Uh that really convinced me to start putting some money into into gold especially. And certainly as as Australians, we've really benefited from that over the last 10 years. It's been fantastic. Okay. So, in 2015, wasn't the Aussie dollar and the US dollar almost at

parody? Close to. Yes. Yeah. Yeah. And uh since then, uh that was December of 2015 was like the bottom of this I call it a cyclical correction. Uh a lot of people say that there was a gold bare market from 2011 to 2015. I disagree. It was just it's part of the giant bull market, but gold needed to take a rest. uh so it bottomed in December of 2015 but the rise that it's had in US dollars is uh that times the devaluation of the Aussie dollar compared to the US dollar uh during that time frame. So uh do you know roughly

how much the Aussie dollar has fallen? It it's basically an extra 50%. So you know about a dollar a$150 since then. Uh so you know whatever the price has gone up in gold and US dollars add 50% in in the Australian currency. Wow. So it's currently over 50 Aussie dollars an ounce at that at this point right around 50 5,000. I'm sorry I'm talking about silver. Silver is about 50 as well. Yeah. Yeah. About 50. Yeah. So, gold is 5,000 Aussie dollars an ounce and it would have been I I

think we were down I don't know if we were down below $2,000 in 2015, but I think we were. What was the question? Uh I I think we want to know uh it's on everyone's mind. When when do we see that uh price rise in silver? Okay. So what happened in 1979 and I think it's going to be similar this time is gold is going to take off first but there's going to be a certain price level where gold is perceived as too expensive. In the 70s bull market uh gold when gold hit $400 an ounce uh

people would look at uh the price you know the average person in the United States back then uh made less than $10,000 a year. So, if you've got a guy in his 40s or 50s, he went rushed to the bank and took out $500 or $1,000 and that may have been the majority of his savings, his life savings. Rushes into a coin shop and says, "I want to buy gold, too." And they plop one or two coins in his hand, and he, oh, is that all I can get? How much is the silver? Oh, you can get 50 of those for one of these. And

it's when the public changes their preference from gold to silver. I believe the same thing will happen probably around somewhere between this 3500 and but I think 5,000 is really the barrier. Uh but it happens at the very end. This happened in November of 79 where the public changed their preference and it took off like a rocket and it way surpassed gold. Gold had gone up uh 25 times its original price. silver went up 41 times, but all of that happened right at the very end. So, uh, my prediction isn't exactly when, but

it's when against gold. That's that's my prediction. I can't give you an exact date, but it sure does feel like a whole lot is happening with the global economy that should accelerate the time frame. What do you guys think? Yeah, I think that's, you know, pretty close. I think it's more ratio based, isn't it? and uh you know uh wonder if there's any cultural or or or you know gen gen uh sort of demographic changes that can uh you know change that. The demographic changes have been huge.

I could comment on that, but what's your thought? Well, I think I' I've heard you say this before. Um you know, why complain that silver's still cheap? That just means that you can buy more of it. Excellent point. You can buy more of it because it's cheap. So, uh, anyway, thank you very much for watching and we'll see you next time. Thank you. Thank you.