hi everybody i've got jeff clark with me once again and we've got a lot to talk about today jeff how are you doing i'm doing great mike and yes lots to discuss we're going to jump right in but we've got an article of the day tweeted the day chart of the day some good fewer viewer feedback and a great meme of the day so stick around for that so let's jump in mike this first thing is an article of the day and it's uh basically saying that the biden infrastructure and job spending plan


could total a whopping four trillion dollars like i remember when this first came out i think it was around two two and a half trillion then it was going to be three now they're talking about four trillion dollars just for the infrastructure spending plan mike what's your reaction to this breathtaking amount of currency that's going to be spent uh well you know we don't have to spend a lot of time on this there this is like if you had a plan to destroy the currency system the global monetary system because


uh you know the global monetary system is based around the us dollar and uh to destroy a currency what you do is you create a lot more of it you keep on in increasing the rate that you're creating new currency and this is exactly what they're doing i mean they just you know the 1.9 trillion dollar bill this is on top of that isn't it this is like spending for infrastructure and stuff this isn't the uh personal uh uh you know the stimulus checks by the way defibrillation of a of a dying patient


somebody that has had a heart attack and is going to die defibrillation is a form of stimulus and that's a good point and this is what they are doing they've got a patient that uh you know you can see that this is uh if it's not gonna you know i've said this many times it's just not gonna end well uh the the with what they're doing the direction things are going and it reminds me of a great ludwig von mises quote ludwig von mises uh there is no means of avoiding the final collapse of a boom


brought about by credit expansion and that's what we're doing this is all based on credit they're going to create new currency to support this the alternative is only whether the crisis should come sooner as a result of voluntary abandonment of further credit expansion now we know that that won't happen if they did the free market would allow prices to stabilize in all of the different sectors some things are being blown into bubbles some things uh are deflating we've got in deflation happening right now


but if they just stop eventually the free market will balance things but that's not going to happen the other alternative here is or later as a final and total catastrophe of the currency system involved notice he says currency not money this was many many many decades ago uh he knew the difference and it is going to be a total catastrophe of the currency system involved so that's my opinion on it what's your opinion on all of these crazy spending plans um it's just breathtaking to me mike how


much currency they're really going to push to these programs and you're right this is on top of the stimulus bill that's already passed this is an infrastructure clean energy green energy uh climate bill and uh it's just a staggering amount of currency that's gonna uh you know go to all these programs and the point is you know there is no free lunch i i still believe in that even though gold and silver have been soft recently i still believe in no free lunch and there will be consequences to


all this like you've been pointing out for years so uh well on the tweet of the day mike this is from our friend david morgan he says how far back do we go to see monetary demand for a silver greater than industrial demand oh yeah when silver was known by all to be money so he's making a great distinction there too and what he's showing here is a chart from srs rocco that that uh physical demand actually just passed is projected to pass in 2020 the demand for industrial use of silver


the first time in a long time i believe the last time i i saw that mic was back in 2009 we all know what was happening then so what do you make of this idea that physical demand for silver for investors is actually surpassing that for industrial demand yeah well i've often said that the day that we're really going to see the fireworks in silver is the day that we have monetary demand when people are trying to protect their wealth and they're all rushing towards it at once um i don't really think that we've seen


anything yet i do think that uh you know lately if you look at it we're in a very weird spot where things go up things could go down there's no clear direction however when you take a look at the commitment of traders and the inflows and outflows of transparent gold and silver holdings you see that there's been more selling than buying lately but the commitment of traders the big commercial uh banks have not uh sold their short visit they haven't covered their short positions they haven't bought them


back i'm sorry yet not all of them they've reduced them a little bit but they're still quite short and so i think that there could be further uh consolidation here and pullback but what we're doing as far as technical analysis goes we're building something called a cup and handle which is one of the most bullish patterns that there is and all it says is that things will one day explode to the moon very good if you like what you're watching here be sure and hit that like button for us and subscribe with the


button below there so on to chart of the day and this is from nick jones steel prices good grief i like that because look at that chart look at the price of steel of all things and this of course corresponds to many other commodities that are going up so i'm going to start calling it bit steel mike what do you think of that well we've gone you know the the dip was down at around 500 it looks like even below and we're up uh 1355 here so you know more than double in uh this is about half a year this looks


like a monthly chart here and we have one two three four five six seven eight nine up months in a row um there's two things that i get from this it it might be a good uh short if if you're into that kind of thing i don't short stuff i i just uh i'm not a great trader i am an investor and i look at the fundamentals of things but this is also people uh feeling there's inflation ahead uh once when a fundamental commodity that's used throughout society more than doubles in price in nine


months uh this is uh just a that that is a sign that there is inflation ahead sometime uh will it do a pullback first who knows right good i think it's pretty clear some level of higher inflation is ahead so well under some viewer feedback mike this is from blue max he says we aren't coming into just another stock market crash or dip or decline where we are coming into the popping of the everything bubble finally so mike what do you think is the timing about here that the stock market's going to pop


well you know they've got everything so artificially inflated with all of the currency creation for the pandemic for the regular deficit spending they were doing every time government just does not have a concept of building a savings account they do things like they lie to us like they tell us that social security is going to be a savings account where you know you pay into it now and you're going to be able to we're going to hold this for you and you're going to make interest on it and then we'll uh


we'll give it back to you later and you know this is gonna be tax-free well they keep on changing the rules but it's the system is totally bankrupt because they've borrowed everything out of it and uh and now there are uh there's they're paying out more than they're taking in so it's not going to last very long and uh the government just doesn't have a concept of saving up for a rainy day it's just the a family cannot run their finances like this uh until just this century a business


could not run their finances like this but now we've got all of these zombie businesses that when the next crisis hits it's going to not just be a popping of the everything bubble the currency system the that quote from ludwig von von mises that uh that it's could be a final and total catastrophe of the currency system involved with all of these bubbles popping one of the bubbles is our currency system and that's going to pop along with it uh it's uh it's scary yet it's one of


the greatest opportunities uh ever presented in human history that's a good point not a lot of people talk about the monetary or currency system when they talk about the everything bubble and you've talked a lot about that especially in hidden secrets of money so remember you can get mike's book for free uh the link is below if you've not read it give yourself a treat so we'll wrap it up with a meme of the day here mike so tell us about this meme you have for us this is uh very simple and basically you know there


is no free lunch and uh this is just a a billboard outside of some trucking company it looks like and it says there is no such thing as government funded it's all taxpayer funded and that's the truth i want to thank everybody for watching we'll see you next time bye jeff thanks mike see you next time