That's where the top of the market was and that's where the crash began. There's few people out there that were as bullish on precious metals as I have been. But there's also a risk of a big blowback coming up where a lot of people could lose a lot of money. The gold prices could drop significantly the miners specifically. We'll get into all that. And the questions coming in usually are very similar about one kind of thing or one concept. And then sometimes like now all the questions


coming in are across the board spectrum from am I too late to buy gold all the way to should I be taking profits on this stuff now. So I'm going to do my best to try and talk you guys through this and tell you my opinions about where I see things going. And in that we also talk about a lot of other stuff to do with the economy etc. And just ignore all the noise in the background. There's only eight workers here today which is a slow day I guess. That's also why I'm trapped in here.


Like, I have to I was going to go to the library. I can't get out the door. Here's a question. I want you to tell me how I'm wrong. Why I'm wrong. You guys know what I think if you watched any of my videos recently. Then, how am I wrong about this stuff? And I'm not trying to argue my point. I want to see what I'm missing. I want to look at all the bogeies. That's the same thing as when we do 29 point leads analysis. That's why it's so involved because you have to


when you're buying a used car, you have to look at all the factors, all the variables, not just the color. Especially when you're dealing with smaller companies, one wrong thing, one lawsuit, one loss of a client can absolutely derail the company. And the one thing that takes more companies out than people realize is growing too fast. When something clicks and it's going really well and they expand too quickly. So, you've heard of confirmation bias. Maybe I'm seeing what I want to see.


Maybe I'm missing something. Maybe I'm just flat out wrong. I'm wrong plenty of the time. So, I'd love you to tell me in the comments below what do I have wrong. If I have something wrong, please give a few details about why you believe that. So, what are the risks in gold? Why am I saying this? because there will be a time when precious metals prices drop and then in my opinion likely turn around start going up strongly. There's been historical precedents where gold mining stocks


dropped significantly but not as much as the rest of the overall market and they've recovered soonest and strongest and if you could wait about a year and a half through that you were totally fine. So people say, "Well, shouldn't I sell and then try to get back in and things drop?" That's trading. You decide if you're going to do that. Maybe it works out, maybe it doesn't. But what I'm going to do is continue to hold my investments in precious metals mining companies as long


as they continually irresponsibly multiply the amount of American dollars in existence. And I'll remind you quickly one last time, the only place to get Peter Lead's app now with images is through my website. All the stuff's through my website. But if you want to decide between silver and gold, silver is actually safer overall in terms of the years now going on fourth year, I think it is, of an imbalance of hundreds of millions of dollars of ounces per year, greater demand than produced to


supply. And there's a little bit of silver that gets used up every year, about half of it. There's a little bit of silver that gets recycled every year. But overall, there's a massive silver squeeze going on over all these years, and it still has a couple of years to go. So, are you too late? No. You won't look like you're too late as soon as things start going even higher. But with any kind of panic or risk on trade or chaos, there will be maybe thrown out the bath water. People will sell the companies that have


been doing better. Some of them are the precious metals and penning companies and maybe a margin call makes them forced to sell some of that. Gold mining companies, silver mining companies will decline in value in that situation. If you need to take profits, do that. Make your own decisions. But I had to also clarify something big and I'm glad one of you caught it. Thank you so much. What I said in the last video, I wasn't saying that the stock market's going to decline 80% in 2026.


What I'm saying is that when the stock market declines, it'll take a long time to do it. And just like the crash of 1929, what was similar to then and now? In 1929, they were in the great stock market crash for months before they even realized it. And washing machines and refrigerators and ovens were new and people were buying them. And for the first time, you could buy on credit. There's a massive leverage expansion. Everyone just had all this credit to buy the thing that everyone was buying that we were


manufacturing. So, there's a lot of good manufacturing jobs. And now you've got, it's not the same thing exactly, but it's the same effect. You've got all these Robin Hood traders, and the majority of them are newer or less experienced investors. Some great investors on Robin Hood, but you pay no commission, and all of the sudden there's all these retail investors who are driving around the stock market as if it's a collection of different meme stocks. So what I am saying is that early 2027,


you look back, you'll probably be able to look back several months to October 4th or November 22nd and say that's where the top of the market was. That's where the crash began. And if this everything bubble pops, then everything will get taken down together. But gold will be holding up better than everything that falls around it. Gold will always increase in value. And if you have a piece of gold that declines in value, that's temporary until it continues its ascension. The other day


you saw the war breaking out in the Middle East and there's a flight to safety to the dollar because all of that flight to safety into the dollar overrode the flight to safety into gold. But this is why it's such a good idea right now to keep some powder dry to be ready to jump on opportunities. You guys know if you're my newsletter subscribers, I just made a trade yesterday where I sold one of all of one of the stocks that I own. And I usually scale in and scale out. Not this time.


And I'm going to say again that there's still an underestimation in risk premiums. Straight of Hormuz, the price of oil should be a lot higher than it is right now. There's a ship on fire right now in the straight. There's over 300 ships on pause waiting to pass through. They're just floating there, loitering around. And where is all that oil going? China. This is going to be causing so many follow on effects and diplomatic repercussions that you're going to want to keep an eye


on this. This is how wars expand. You can keep expanding. They never unexpand. Just remember, if you're going to make a trade, you don't have to do the whole trade at once. If you're feeling like you want to take a little bit of profits, I would suggest do that. You can't go broke making a profit. And who knows? I don't know what I'm talking about. Maybe everything blows back and declines significantly. So sell a little bit of what you hold if it makes you feel better. Make all your


own decisions and lower cost average. Go buy a silver coin. Next month go buy another silver coin and just keep on doing that so you don't have to worry about the price fluctuations. You're just trying to make a big pile of silver coins just like in the cartoons. But I told you guys for ages now about the oil wars and the oil depletion clock I made that actually got picked up by Stanford and they put it on their website for a while. We use about 85 million barrels of oil per day. Second most common


liquid on the planet and I've told you that as we approach the day that we run out of oil. That's when all the posturing and war start. And now you're seeing it. A lot of the military move that was going on for a while have been about oil, but more so now than ever. And you watch how the closure of the spirit of Hormuz affects China, which then affects America. And they're talking about military escorts for these ships coming out of the straight of Hormuz and ensuring them. Both of those will backfire in a


big way. We're talking about getting a American military ship to escort a big slow lumbering oil vessel through the straight of Hormuz. A narrow choke point is what 20 km, whatever it is, and drive along the coast of Iran. There's mountains and caves and rapid gunships and mines. This is not a good idea for the safety of the crew of the military ship. And I'll remind you that Pearl Harbor was partially an attack initiated because of Japan being choked off from oil. And I know that all this stuff is very heavy. And


I'm going to remind you again that it's a lot. And I'm not complaining. I don't complain anymore. The more I see, the less I complain. There's so much going on that's horrible and horrendous in the world right now. And I just keep saying there's nothing you can do about it. But I thought, well, maybe there is something you could do. I thought, why don't I buy a 305 ton steel tugboat and use it as a stage to generate attention, but focus on the right kinds of causes,


help people weaker than ourselves. So, I'm in the process of that. That's why there's 11 people, eight people in here right now sawing and chopping up stuff. We fixed the fireplace. I don't want to move now. Anyways, when I realized that was the purpose of the boat, that's when I knew that was the boat I needed to buy. I hope to be on there by May, late May, and live on it for the next couple decades. But I'll remind you again, the purpose of the whole purpose of it. It's


not about me. It's beyond either of us, all of us. I think I'm good at dancing for nickels, getting some attention, telling a complicated concept in a simple book that people can understand that they might benefit from. That's all the game is. That's it. So, this boat is just a floating stage. I'm going to make some noise, kick up some dust, and help a lot of people. People always pay money to go on a boat. They love it. People hate people who own a boat, but if you're going to a charity event on a boat,


you'll bang out 500 bucks. So, just a reminder that the only place to get my newsletter even I think I think it's true and join Peter Leads team or get the Peter Leads app now with images is through my website at peterleads.com. I'd love it if you guys would join us there or at least connect with me so that we can go through this together. This is going to be a big economic I don't know what. Don't forget to make a comment about the ways in which you think I'm wrong and why you think that.