you know they may not be recommending gold but they are recommending silver and one of the reasons gold is money silver is money and a commodity it's both and it's it's a big time commodity it's the second most useful commodity known to man behind oil hi this is mike maloney i've got jeff clark with me once again and we've got a lot to talk about today how are you doing jeff i'm doing great mike great to be with you again today and yes we do have a lot we want to try and cover today so to


help us out we brought adam tagger back with us this week uh the co-founder of peak prosperity so adam thanks for jumping on a call with us hey my pleasure thanks for having me back on i had a lot of fun last week with you too yeah so we're going to start with a little bit of fun here because we're going to point out that you got honked four times last week when you referred to currency as money so uh we're just passing the baton i got honked a lot adam when i first started with mike


uh it's easy to do but uh we're gonna uh refer to currency uh not as money but just as currency and gold and silver as money going forward right got it got it yeah it's funny i think that term fun is all relative in the eyes of the beholder but uh but yes i'm very chagrined and hopefully we'll have a lower honk count this week you're right very good well this first article guys is from zero hedge and it's highlighting that goldman sachs is saying that they're going to


double down on the commodity super cycle that they're going to double down on their bet buy more commodities because they think inflation is coming and they claim in this article that commodities are the actually the best inflation hedge and not necessarily gold and silver in fact they're reducing their exposure to gold based on this so mike you first what do you think about goldman sachs uh and this article on commodities versus gold well i think they're great that it's great that they're finally on the


bandwagon here and uh figuring out what happens when the entire world is creating currency at a pace that has to drive asset prices up you know every dollar has to go somewhere and the dollars that have been created mostly went into the stock markets uh for a number of years uh now it is leaking out and in the article they talk about you know china's credit creation affecting the world and they've got australian real estate in there and a whole bunch of different factors with the delay time and so they


are expecting some big inflation in the future um you know i i've never in all of the monetary history uh that i've looked at i've never seen an instance where the entire population is on one side of the boat such as in debt you know borrowing uh currency into existence and then you go right into inflation and wipe out the debt of it's it's rewarding mass stupidity basically when you go right to the edge of debt where you couldn't take a deflation uh using leverage there's


nothing wrong with that so a certain amount of debt can be good but for most of the population they live off of debt they live far beyond their means and uh in all of the episodes i've seen in history usually there has to be some event that sort of clears that out first and then allows the big boys to win the banks uh end up uh on the winning side and that would require some deflation first and deflation here that i'm talking about is a contraction of the currency supply and it doesn't


necessarily mean base currency i'm talking about the currency that the banks create when people borrow it into existence because when you sign a credit card when you uh borrow on a house or or borrow for a car you're creating currency for the bank and then the bank has the goal to charge you interest for it but uh the one thing in that article you know they may not be recommending gold but they are recommending silver and one of the reasons gold is money silver is money and a commodity it's


both and it's it's a big time commodity it's the second most useful commodity known to man behind oil it's got more uses than anything else except oil so anyway um adam what do you think about the article you're actually the one that brought it to our attention yeah well you you just stole my main point which was uh goldman sachs is actually recommending uh people go long sober and that they have a it's a sizable long silver position in their general commodity index that


they're sharing which i think is a a title shift for long-suffering precious metals holders um where so many of the big commercials um have been short of the precious metals but particularly silver so now that goldman is going long um and let's also note too that that the report uh the article we're talking about the goldman report comes on top of a similar jp morgan report making essentially the same premise so um you know it's very interesting to see these big commercials now being pro


commodities going forward and i think that is a seismic shift that is uh we should all take uh take notice of um mike you said something else about how um you know what's happening here is there we've taken on so much debt and now we're basically sacrificing the currency uh to try to you know get out of the burden of all that debt and i just want to underscore that that is not a an accident of nature that that is the playbook um i'm sure you're familiar from your your study of monetary history mike with


the term financial repression and that's essentially what the financial repression playbook is is you take on debt until uh you you know begin to feel the the burden of the debt service and then you just try to bring that down by devaluing the currency and placing the burden of servicing and paying off the debt or dealing with the debt on the populace uh via inflation of their currency and depreciation of their currency um versus actually having to deal with the real consequences of servicing


you know your reckless uh debt build-up so the only other thing i want to mention on this i think is notable is goldman talks about this as uh demand pull inflation and this is something that we see from echoed by a number of at least the experts that i've been interviewing on my programs recently where they do see an awful lot of uh new infrastructure spending coming forward you know with a lot of these stimulus programs particularly on the fiscal stimulus side where you know governments like the us


and congress and there's going to be spending multiple trillions on both repairing our badly neglected infrastructure but also you know sort of under this new deal trying to rebuild more green oriented infrastructure so that is going to be demanding a ton from the physical commodity space and uh you know i think that's going to be um just a big factor going forward those investments need to be made one way or the other whether you agree with the logic behind them or not um and so i think we are


going to see commodities including precious metals particularly silver having a really strong tailwind going forward which again very different from the past 10 years yes very good i agree but i i still think that there's going to be some sort of financial crisis that will cause banks to get scared and then when they stop rolling over short-term rolling debt that creates a contraction of the currency supply the government can be expanding uh base currency hugely and they can be doing all of this deficit spending


during that period of time but there's a a time lag before that starts causing real infl you know maybe i'm wrong maybe we just go straight into inflation here i don't know well that's the that's the i would say trillion dollar question but multi-trillion dollar questions at this point right and i i don't disagree with you mike and i hate to say that i mean we almost kind of hope for this deflationary wave because it's going to take some of the crazy excess out of the system and give us a chance


to maybe do things a little bit differently going forward but but i don't know it's kind of a crap shoot right now yeah jeff very good okay on to tweet of the day and this is from daniel larimer and he says here my new book is available in print and ebac ebook formats more equal animals and mike you actually know dan and you actually wrote the forward to this book so uh tell us a little bit about this well it's a brilliant book yeah he's dan larimer is really a super smart guy and he has


built his life around uh making sure that we reach consensus and he's got a mission of securing life liberty and property uh and you know freedom for everybody and um one of the things he came up with is just brilliant and it's the first half of the book roughly um and that's uh you know we have a 70 percent dissatisfaction with government uh currently the the government approval rating is below 30 percent and it uh it's almost always below 30 sometimes it goes uh very low and so we're not getting what we've got


a system currently that elects these uh megalomaniacs these people that uh they they aren't necessarily qualified to run things but they're the people that shove themselves to the front and say elect me and i'll tell you how to live you know uh they're just good at selling themselves uh to get elected you know vote for me um and his idea is just absolutely brilliant if if you are randomly assigned a to a group of say 10 people in your area and you have a meeting a couple of meetings over a period of a


month or whatever you know get together four times you all discuss things and then you pick a representative from your group to sort of go up to the next level and everybody gets the opportunity to run whether it's for president or for mayor or whatever it the greater the voting population the more levels that you have to go up but basically what you're doing is you're you're taking 100 million people that are potential voters and you're eliminating 90 of them so now you're at 10 million


people having meetings the next month to try and figure out who the best people are who what the best ideas are the people that are that are the most organized uh the people that are basically like the best chess players uh and they pick and now you're down to one million people and then a hundred thousand people and ten thousand people and one thousand people and when by the time you get to the the next level of just 100 people you could just randomly pick any one of those what this does is


you can't big money you know currency big currency revenge is so sweet the the big currency from all the corporate interests and and from them and i mean who is the media gonna follow when it's at a thousand people the media can't pick a winner the the big currency the corporate interests the lobby groups none of them can pick a winner you could randomly pick when it gets to a thousand but the minute that uh each one of these thousand pick uh one to go to that next level or you could wait until it gets to ten you


could pick you could make uh once you get to the hundred level you could uh have everybody just go in a room and not come out until they've picked ten people and then a random person is selected out of the best 10 the most qualified 10 people in the entire country and now you would have it since it was selected by the people with no input from special interests from big tech from big media everything else uh you get a government that would have and each level it's a group of ten meeting


and seven of ten or greater have to pick uh a person and if they can't come to that consensus of seven out of ten they're they don't have anybody that goes to the next level and therefore you're going to end up with roughly a 70 approval rating of government you're going to get a fair honest government that actually does something for us so this is a way of fixing most of the ills of society by addressing the root cause of 90 of the problems that we've got so it's a brilliant book everybody should


get it and read it uh it's it's uh not a really easy read but it is absolutely brilliant uh very good adam do you have a reaction to this kind of system is very interesting yeah no i i i love it i love the idea and i i think it's probably going to put it in the it makes so much sense it'll probably never be allowed to see the light of day given how corrupt and captured our system already is by the minded and special interest but i certainly hope i'm wrong and uh mike you had suggested that i bring


dan on my interview program and i'm you know now that i know more about his uh his proposal there i'm definitely going to reach out to him well he's the creator of uh steemit uh bitshares and uh eos uh so he's he's really built his life around reaching consensus and recording it permanently uh so that everybody can see that this is what we decided um but uh the the thing about this is it can be run in a parallel party it's it's sort of like uh you know bitcoin now that it's out there


and and being run on processors all over the world it can't really be smashed or suppressed very easily by governments so there really isn't any way that they can can uh not allow it if you because you can still be a democrat or a republican or a libertarian or whatever you want but you can also uh join this party and vote this way and once even if it's just to elect a mayor once it's the example is set like in a small community or something and within a small community it wouldn't


take any more than a month or uh two months to to be able to elect a mayor or a city you know city council stuff like that and once the example is set and people have done it and uh they see the results i think it would spread like wildfire so yeah very good um the book is available now and it's only if you click on the link there it's only 4.99 in ebook form so if you're interested in reading it you can do so very inexpensively and again my growth forward to this book so okay well on to chart of the day and


this is from wall street silver and basically he's including a chart in his tweet from our friend nick laird at gold charts r us and basically what nick did in this chart was he showed what the price of silver would be if you excluded comex trading and you only bought af closed and you held until the comex opened the next day this is what the price action would be and you can see that going all the way back to 1970 but notice when it really took off was in 2018 since then you can see how the silver


price would be in the triple digits if it just traded if we excluded the comex trading so it's very interesting so uh this has been out for a while this has been shown before but what's interesting now is that just how much silver has risen you know the past couple years uh because of all the things that have happened so mike what's your reaction to this chart my reaction is it's it's absolutely amazing i've seen this before but i haven't seen it going all the way back to 1970 so this is very


interesting and what strikes me is how different this looks than the a chart of just the silver price that includes the comex trading during the day when it is this is the absolute proof this chart is the proof that there is manipulation going on when the commodities exchange isn't open it it has to make up for the difference between this chart and the real price and so uh most of the action on the comex over this time period is suppressing the price uh it's interesting that when you eliminate


the commodities exchange trading in the united states from the equation uh that you end up with a silver price today of 230 bucks an ounce that's huge what do you think adam um i totally agree i think the only compliment i want to add to this is um we do see a similar effect in the overall stock market where over the past 10 years the vast majority of the gains and there have been great gains have been coming in the overnight markets but i think it's still for the same underlying reason which is


it's a lot easier to manipulate prices in these smaller thinner overnight markets and so i think you know it's just another way in which the manipulators are engineering the outcomes they want and uh and that just means higher stock prices for us but it means lower silver prices well we're going to close this video out here mike with the meme of the day we'll have you read this to us but if you've not read mike's book the link is below and you can do so for free it's there available for anyone to


read so click on that link if you've not read mike's book so mike take it away with the meme of the day okay i'm going to read this one from bottom to top you've got regular taxpayers and then you've got government employees that pay tax because it's a very frictional system uh you uh take taxes away from everybody and then you pay government employees that then have to pay taxes and it has to go through the government and uh the people in the government have to get paid the


irs and the treasury and everybody that's going to handle that currency before it gets paid to them again so the taxes they pay come back to partially pay themselves again later but a whole bunch of people have to take it along the way and then there's another one that i want to close with here and it's just a picture and uh like our producer director dan rubock uh said uh it's it's just like this extension cord uh this outlet strip being plugged into itself but on the cord you need to insert a big resistor


because there's an energy loss that happens every time it makes that loop so that's it okay great thank you mike and adam thanks for joining us again this week i'll see you both next week