hi this is mike maloney and i've got jeff clark the senior precious metals analyst of goldsilver.com and chris martinson from peak prosperity with me jeff you're the mc so take it away hi guys it's great to be back with you happy holidays and this will be the last video of the year i believe with chris so chris uh thanks for joining us this year it's been great having you well thanks and uh 11 to 17 inches sometime tonight is the snowfall count so mike i'm very jealous wow 11 to 17 inches yeah well here in


san juan it gets down to about 75 degrees at night [Laughter] that's terrible jeez yeah sweater territory well our first topic of the day is um this article that i saw that i want to talk about with you guys and kind of get your input and that is there's a new warning that the international pandemic responses are eroding freedoms and this isn't actually new of course there's been a lot of reports of this going on this year but this one is just yet another agency and it's actually a


very informative article it goes into some detail about how our freedoms are eroding so what i want to ask you guys is this after 9 11 we saw tighter airport security majors we saw more cameras on street corners and things like that so uh chris i want to ask you first but but to both of you what do you think is going to be the outcome or the societal changes that we're going to see as a result of the pandemic well that's a really great question and and things are moving a lot faster than i expected and i think


faster than most people can really absorb so normally i think in a usual society you might have a robust conversation around where that line of encroachment on people's rights actually would happen but there is no conversation this time you just have governors signing executive orders it's a pandemic it's an emergency don't you understand there's nothing we can do we saw the la times decry people who are talking about you know communities want to organize and say we're not shutting down we don't


want to destroy all our small businesses here and uh the la times has branded them resistors uh they call them conspiracy theorists and so now you're a resistor and a conspiracy theorist if you open up a clinical trial report and you go oh my gosh people could you know this is uh really avoid uh the worst of this with these treatments that we now know about and it's maybe not a lot worse than a lot of other diseases but somehow we have to get on with our lives and that's not what's happening so i'm a


believer that this is both a real virus that's pretty bad and i don't want to get it but we have good treatments now and government is using this to really overstep their bounds and just steamroll over rights including i think everybody maybe most people saw this if you haven't check it out this video of this woman she's crying she owns a restaurant in la outdoor pavilion under a tent shut down by executive order can't run a restaurant very annoyingly right in the same parking lot right next


to her thing uh that's shut down all these tents got set up for a movie company so they can feed their workers and production crew while they're shooting a movie because the movie is essential to something right that's just it's not just uh injurious it's insulting so that's what i had to say about that yeah that's a good good point i saw that clip too it was actually heartbreaking to see what happened to that lady but but mike what do you think what are the any long-term societal changes we see as


a result of the pandemic um well complete loss and freedom and the rise of socialism but one thing i do want to mention is in that clip what she's complaining about is that the mayor of los angeles has her shut down while he approved uh this movie company said it so it's the government that decided this the government decided the movie industry gets these special breaks because they're his friends and then she has to go out of business that's what she was crying about uh the government has decided to put her


out of business uh so you know what i'm really concerned about uh you know chris has been censored lately a long time ago i lost my wikipedia page i used to donate a lot to wikipedia because i used them a lot in my research and so i was giving back i you know i've sent them i think my first donation to them was a thousand bucks uh and then i send them a hundred bucks periodically but then they took down my wikipedia page they took down chris's wikipedia page uh a few months ago and recently there's a


man named dan larimer who developed the the most used blockchains that there are in the world are all developed by dan lirimer and this is a guy that had conversations directly with satoshi nakamoto and told him what was what the problems uh were that were going to be inherent in the way bitcoin had been engineered and everything he said turned out to be true uh and he designed uh steemit uh bitshares and uh and eos and these make up about 80 of all the blockchain traffic so he is somebody that has done something that is


it it's not like a self-promotional thing or anything he's he's really changed the world and yet his wikipedia page was recently deleted and we're seeing people with all of the you know there's a group of doctors that want to they're trying in in germany a group of doctors and i can't name the uh the way because we have to be afraid of censorship here too so i can't name the uh current health problem the world is experiencing right now uh but they have information about this and


this is like 500 doctors their youtube channel has been deleted they no longer have a youtube channel for these videos so the censorship that is going on right now you know uh recently our episode 10 of hidden secrets of money was taken down now this was supposedly for copyright infringement and there isn't a single second in any of our videos that isn't either shot by us or uh animated by us or purchased and licensed and that includes all of the music we we purchased and licensed everything


these are not cheap an episode of hidden secrets of money may cost a hundred thousand dollars or more i mean it's shot in 18 different countries two full-time animators this isn't cheap to produce we've got them on uh youtube and episode 10 had well over a million views so it does significant damage to our channel when uh they when somebody uh makes a claim and they take down the video uh and and send you a a warning you know if you do this copyright infringement again or whatever now chris was censored


outright just because of uh some of the science that he is presenting and so this censorship basically uh is the end of freedom um you know uh dan larimer wrote something that i want to quote here pay attention to any content that is censored it almost always indicates a threat to those in power and knowledge you likely need to know truth does not require censorship however lies depend upon censorship of the truth and so with all of this censorship and uh trying to promote the official narrative or the


narrative that uh google facebook twitter and youtube want us to hear uh the censorship is to support their position this is the way hitler came to power sorry i rambled but this is a threat it's like goodbye to freedom this is you know i am uh uh one thing that i do fear is socialism socialism is uh the meanest cruelest these people in order to uh have their ideals uh in order for it to work out they have to force everybody into their system and they do this through theft and fraud and uh enslavement and murder they have to kill


those or send them to re-education camps at my age i don't want to end up in every education camp i've worked uh all of my life uh i'm about to get a farm i've got a farm and it's beautiful and uh i i want to be able to sit by my little river i want to be able to have a campfire with a view and a steak grilling on it and a beer in my hand and enjoy some of life because i've worked all of my life to try to get some of these things i didn't start out rich i started out


my family was upper middle class but i had to do all of this on my own and socialism is a threat to taking away all of that when you don't have private property rights you destroy all incentive so i've rambled on too much here but but socialism is a recipe for poverty and this is the direction that we're going and censorship is what supports it right i think the message is that greater censorship is is on the way and it's definitely a trend in motion so yeah okay on to the next topic um we


said last time that you know i asked you guys should we just buy stocks because they keep going up the fed is just going to keep printing currency all these stimulus efforts and chris you kind of admitted that well maybe we should but this article shows and he doesn't have a chart which is kind of frustrating but he said the setup for selling overvalued us equities and buying undervalued precious metals particularly gold and silver today looks exceptional the gold to s p 500 ratio ratio just posted its worst


decline in 37 years meaning gold went down and the s p went up during this 30 day period he's measuring more than any other time in 37 years the obvious implication is that if you're looking for value the better value is clearly with gold and silver and not stocks chris what do you what do you make of that well i'm increasingly jeff of the mind that uh that this it's all kind of rigged everything's been been rigged right we found out that last year jp morgan got fined nearly a billion dollars


for rigging the gold market and they their presence in the gold market wasn't impinged on in the slightest and we still see the same shenanigans day after day so i'm of the mind that that a lot of what we call markets need air quotes two sets because they're so perverted my grandfather my father would not recognize him heck my younger self doesn't recognize him because they're not markets anymore they're not price discovery mecha mechanisms where free people come together and free prices are


determined we now live in this socialist environment where there is a group of people stop me if you've heard this story before there's a small cabal of unelected people who think they know the right price for everything right that's the soviet model it's also the federal reserve's model right so they think they know the price of everything but i'm also a big believer that uh they can't possibly get that right they're gonna make mistakes the complex thing machinery of the


economy is not something you can control because you know you know the right price for money and they set every every dial on that so i got to be honest you know we a lot of people talk about stocks they want to know about stocks i'm all about that but i'm going to say this if you don't have your larger uh hard asset portfolio already in place first do that before we talk about stocks so i'm talking where's your food coming from what kind of you know how's your soil growing um


things like that so at any rate i'm a i increasingly think that this thing we're experiencing right now is like a kabuki theater it's just show and i think they're going to get it wrong i think they're going to get it really wrong and when it breaks i think you got to know honestly we're at the bottom of your maslow's hierarchy of need remember down there food shelter safety warmth right you got to kind of know where that stuff is first then we can start talking about other


things so that's it i think it's just rigged and for show at this point in time we know the the price of everything but almost the value of nothing as a result yeah good good point excellent yes so mike what do you think stocks versus gold uh better values with gold right now i'm still of the opinion that gold will win out on this thing gold and silver will win out over other financial assets but uh i am uh you know i'm purchasing this farm i am going to most likely take out a mortgage and uh because


if i wrote in my book back in uh 2000 5 6 and 7 when i was writing my book that gold and silver will be the big winners or if you go into debt at just the right time just the right time means when interest rates are about to reverse before hyperinflation or huge inflation takes hold you want to lock in a fixed rate long-term uh debt uh however there's people out there you know clive mon wrote an article recently it's a bit on the conspiracy theorists side so i don't want it but it's in


loving memory of freedom 1949 to 2019 rest in peace so freedom rest in peace uh and in there he's uh proposing that the method that they will that the authorities those in power the uh he believes in the new world order conspiracy um that they will use debt to basically send everybody back to debtors prison and impose a futile system uh a feudal system i mean feudal system uh on all of us now klaus barbie i mean klaus schwab world uh economic forum from klaus barbie sorry i did that on purpose


uh he says that in the future nobody will own everything and we'll rent everything and i have one question for him who will be we will be renting it from right now the world's central banks are on this rampage of legally buying printing counterfeiting currency into existence and buying up everything and uh if they are able to use debt uh then debt can be dangerous if they're you able to use debt to enslave people and like student loans you can't get out of that with bankruptcy and stuff


a whole bunch of laws have been changed uh you people should take only take on debt if they have other assets that exceed the debt that can counter balance it you have to be able to erase your debt at any given moment uh if you believe that debt could enslave you and debt you know you are enslaving yourself when you take on a lot of debt unless you have this big exit and your timing is good and you think interest rates are going to change uh i think gold and silver will outperform stocks the gold silver ratio


has uh i mean the gold the dow gold ratio uh has gone back up to 16 point something uh historically the reversions have been in 1933 or 34 it went uh to a two to one ratio uh meaning that uh the dow jones industrial uh the points on it was twice the price of gold uh in 1980 it went to a one one ratio where the points on the down the price of gold were the same and that i believe if you look at the charts is because uh it's it's more energy being released it went from an equilibrium up to a place where it was in a bubble


down to a place where it was in a bigger bubble and down to one and then the greatest bubble in history in the year 2000 and we're in the process of reversion i believe that it's probably going to be where the price of gold will be double the points of the dow but even if it only goes to two it means that gold will outperform stocks by a factor of eight if it goes to one like it did in 1980 if history repeats then you uh you're talking about the gold outperforming stocks by a factor of


and if it goes to one-half which would be history repeating but with a twist based on the fundamentals that exist right now then you're talking about gold outperforming stocks by a factor of 16 times and i expect silver to outperform gold significantly at least by a factor of four so take that those gold figures and multiply them uh stocks are just not the place to be i do believe that chris is right uh chris when did they uh move the uh servers what year was that that they moved the servers


closer to the uh exchange i think that was uh 2015 i believe okay 14 it was in the aftermath of hurricane sandy and they are manipulating the market more and more but still in march we got a 50 crash a 50 retracement of the market that's a huge crash and the servers were already located where they can manipulate things where they're ahead of all of the other trades by microseconds they're that much closer the the speed of electricity is and and uh and so they have the advantage of manipulating the markets


but what i think we're going to see is much greater volatility uh we will see them create trillions of dollars to manipulate the the markets uh but i don't think they can do it instantly or we really wouldn't i don't think we would have had that march crash so i do believe that eventually we will see uh gold the dow gold ratio uh will go back to uh two or you know at least like four at minimum two one one half somewhere in there and so i plan on converting my precious metals into other


financial assets in uh tranches as we get near this top measured by things like the dow gold ratio of the gold real estate ratio uh the value of the gold held by the federal reserve compared to the uh quantity of currency that they've created there's a whole bunch of different measurements that i'm using to try and figure out where the top is here in this but i think we've got the greatest crisis in history coming so i think we're going to see the greatest relative uh asset ratios


happen they're going to go to extremes never before seen so that's that's my story and i'm sticking with it okay very good and just for some perspective in that article he's referring to the gold s and p ratio is what he's talking about it's currently at 16. um it's oh that's the dow gold the gold s p ratio is he he says s p in the article the gold is at six dow gold isn't 16. what chris the s p must be a two right yes yeah the s p is uh the problem with using the s p for this


is a lot of periods of time it reads in a ratio of point zero or point zero zero something um and people don't think that way so i always use the dow gold and then i had my research assistant alan hibbard uh do a correlation on the dow and the s p all the way back to the year 19 you know the s p only goes to the uh 1950 but robert schiller recreated it going back to the year 1880 or something so he did a correlation from 1900 until today and it's correlation correlated at 0.98 something so they're


almost an exact match so it doesn't matter which one you use uh they're going during different periods of time they will diverge a little bit but then they come right back so um uh the s the article he says the s p but if he quoted 16 that's the dow gold ratio right i misspoke that 16 is referring to the doubt 16 and a half something right now uh but the point i wanted to make is that back in 1980 the dow gold ratio was one and we're at 16 now um and by the way just coming off a high of 45 in the year 2000


which is insane the last peak before that was 28 and peak before that was 18. the 1929 before the 1929 stock market crash the high in the dow gold was 18. so we're coming off this insane valuation where paper assets were overvalued uh ridiculously and gold and silver forgotten about nobody even wanted to hear about them in the year 2000 and uh and so tremendously undervalued we're in the middle of the reversion and the reversion will continue i believe now it's going to speed up over the next three years


uh you'll see this reversion complete i believe sorry over over the next three years there's a long way down for the dow and up for the gold in that ratio um doesn't have to go down i mean chris is talking about a melt up because of a rigged market that if they do that they're going to be creating trillions and trillions and trillions of dollars and as they do that people start fearing the the purchasing power of the dollar falling so they move toward hard assets like gold and silver to protect their


uh their purchasing power and so you could see the dow going up but gold going up at twice the pace and so this measurement of dow gold the price means nothing value is everything and and chris just said today everybody knows the price of things and nobody knows the value and yes but yeah i know this i know that more than 37 percent of all the currency ever created in u.s history was created this year and most of that happened in just the last 10 weeks right a huge amount of that so yeah give that what you will people like oh the


fed's not really expanding its balance sheet oh but m1 is exploding baby you know and that's that's all you really need to know that's what they care about super high correlation between m1 creation and financial assets going up and we all know who the fed really cares about they have their lnb program the leave no billionaire behind program that's who they care about they get invited to davos they get the hobnob you know let's be clear about this the federal reserve is not serving the average


person they're working for the billionaire class and they're doing a great job at it i think i think they deserve a golf clap they're doing fabulous at it but the rest of us got to make other planes you know uh it's it's it most the average person just does not realize that they're mad that these billionaires are getting so rich uh a lot of people out there and they don't realize that it's the federal reserve stealing from them and giving their wealth to the billionaires


that's the process it's it you don't see the dollars coming out of your pocket but what you see is a devaluation of uh some assets against others and the assets that are gaining in valuation are the ones that the billionaires own and it's all caused by the federal reserve redistributing wealth yeah hey we got to rent all our stuff from somebody i guess right yeah world central banks alone everything and we'll rent it from them and we'll be happy according to klaus barbie


uh got you again well listen you guys talk about this it really just reinforces that i feel so much more comfortable being in gold than i do in stocks right now and like you said mike i i sleep better owning gold so well as we uh wrap this video up and it's like i said earlier it's our last one with chris for the year so um i just want to ask you guys how are you celebrating the holidays are you doing anything creative or different this year or fun in a year of lock downs and shutdowns so chris


any fun or creative things you're doing this holiday season oh yeah we're having a blast first up we're opening up all sorts of subsidiary accounts on different platforms so that we can evade the sensors that's who doesn't who doesn't associate that with christmas uh but otherwise this is our first year here what we're calling honey badger farms and and we're oh we had a really big year here and we worked so hard so this is all about rest relaxation and just really taking the time to


to reflect on what we have accomplished which is a lot um so evie and i are just happy as can be being here in our our new home for our first christmas in it so it's pretty special oh that's great so mike are you doing anything fun or different or creative for this particular year holiday season yes i am uh the piece of property that i bought uh is is very very hurricane damaged so i got it at a special deal there are no habitable structures on it like chris was able to just move into his farm he's able to do it himself so i


have a manager uh up there uh full-time so that i can continue to work down here there is no internet up there uh phone services sketchy uh no places to live you basically have to live in a tent uh but um i'm planning on taking the week off between christmas and new year's and going up there when a bunch of friends were cutting a road there's a peak in the middle of the property where i can see both sides of the island at once the north and the south side of the island at once and i want to sit up there with a


campfire i have a big old new york stake aging right now i've got a i turned my wine refrigerator in this apartment that i'm at in san juan uh and i'm not a big wine drinker into a meat aging locker by adding bricks of salt and in a fan and keeping it below 40 degrees and down around 30 humidity uh and it does a phenomenal job so i'll be up there cooking aged new york steaks over a campfire there's this great brand of beer here called medallia i'm gonna have a medallion in my hand


campfire a steak and a view and friends and it'll be great oh that sounds great i want to join you mike my first vacation in years actually so yeah yeah absolutely for me i'm just uh i i do write i write all the time but over the holidays i'm going to do some more writing that i want to do personally so that's how i'm going to spend my uh shut-in year here for the holidays so well guys this has been a great video thanks so much for weighing in all these topics chris we will see you again next year and uh


happy holidays guys all right happy holidays and have a happy new year bye guys thanks chris thanks jeff