hi this is mike maloney and i'm joined with jeff clark once again and uh jeff we got a lot to talk about so what do you got for me yes we do have a lot to talk about this time mike news of the day tweet of the day two charts of the day some wonderful viewer feedback and a great meme of the day so stick around for that so away we go mike in this first article um appeared on reuters and it talks about how gold is edging higher because the dollar is going lower and yields are going lower so if you look at 2021 a lot of the


reason that gold and silver have been weak is because yields have been rising and the u.s dollar has been rising now the mainstream is pointing out those things are kind of reversing or at least softening so mike this begs the question is the bottom in for gold and silver who knows i mean uh this is always a tough one um you know lately it seems like everybody is paying attention to bond yields controlling the price of gold and gold and silver are a crisis hedge and we haven't reached the crisis yet but


believe me there's going to be a crisis sometime or another uh it's it's coming i don't know exactly when but it's been a long time since the last major crisis and they happen every few years and uh and so bond yields you know it used to be inflation was the thing that caused gold to go up and then uh you know it was uh did it was the dollar going down that would cause gold to go up now it's bonzi bond yields but i look at the commitment of traders report and i look at charts and i look at


at sales of precious metals and the sales of precious metals are definitely saying that the price should be going higher when you look at transparent gold holdings though there have been outflows so retail sales a lot of it the gold holdings in uh in the major depositories and stuff uh there's been outflows so that's suggesting that the price should go down to trying to do technical analysis on charting it's it's like a guessing game right now what is your take on this jeff well


the point of the article is that instead of these being headwinds these could actually be tailwinds for gold and silver and so if that becomes the case if that trend takes hold then yes the bottom would be in but like you say who really knows there's a lot of other issues that can impact gold and silver prices uh and the biggest one of which is going to be some type of monetary crisis or shift and that's when we're our payday is really going to come so one do a tweet of the day here mike


this is actually from you something you put out a survey and it says which do you think we'll see first 50 silver or 127 000 bitcoin and basically when you put the survey out this was roughly a double in each asset from their price at the time so basically which one was going to double first and you can see that uh while silver got a fair amount of votes bitcoin got the majority of the votes almost two-thirds of the votes so the sentiment seems a lot stronger on bitcoin right now so mike what's your reaction to the results


of your survey uh i think it's interesting uh i do think that um you know typically when you bet on something that's already risen by a huge magnitude uh there's the potential for loss and when you bet on something that uh that has been suppressed and hasn't really moved there's a a large potential that it's going to uh but you know sometimes um you know usually the crowd is always wrong however there was a gaming i can't i don't know if it's still around but there was a online betting


system where they would take bets on just about anything and uh there was something that the wisdom of the crowd would very often uh be right when it came to like calling elections and a whole bunch of other uh different things that where the crowd was better at picking what was at what the future was going to be than all of the professional analysts and commentators and stuff and so uh you know over the long run uh i you you can't have uh currency creation on this massive scale and have uh silver at half of its 1980


high that's just not possible and so uh it will exceed its 1980 high and once it does uh it it's i believe that it's just really off to the races then and uh we'll have triple digit silver i also believe though that uh 127 dollar bitcoin is entirely uh possible and um it it could happen uh you know in the next year or two uh could happen even in an even shorter time frame uh you take a look at bitcoin's runs in the past and so far this is nothing extraordinary yeah the great thing is


uh we have exposure to both right mike so but i think that's absolutely right yeah when monetary issues really rear their ugly head though uh my bet's probably a little more favored on silver but well if you're liking this video please hit the like button below there for us and subscribe to our channel so you make sure you get our videos so on to chart of the day and we actually have two charts here mike uh this first one is from dave collum and he says this plot shows the actual price of a ford f i


think it means f uh 150 or uh something like that and the toyota toyota camry and it also shows the 24 weighted hedonically adjusted contribution of cars to the cpi so if you look down here at the price increase of a camry and the price increase of a ford pickup truck and by the way those are the two most popular selling vehicles excuse me in america the most popular selling truck is the ford f-150 the toyota camry is arguably the most popular selling sedan in the u.s and yet look at the cpi price of new


vehicles it's hardly risen at all so mike what do you make of this uh this is just confirmation that when i called the cpi the cp lie in my book i was correct yes exactly right and then there's this other chart uh from u.s global investors uh this week in no inflation question mark corn prices are up 85 percent compared to the same time last year and yet could double before we even see a retreat uh so that just shows you uh uh the price of bitcoin as i like to call it uh just rising dramatically so


again this all ties into your theme of the cp lie the cpi although it rose last month is clearly not accounting for the dramatic rise in all of these things what do you think no it's it's not accounting for this stuff at all like i you know i've got my own measurement of inflation cup inflation currency units per person cupp and every dollar has to go somewhere and the things that they the major components that they aren't measuring here are equities uh bonds and savings those are the major components


where currency can go and you can inflate savings which the federal reserve and the treasury have done with all the stimulus you can inflate the stock markets which they keep on doing with uh with quantitative easing and such and uh eventually that does leak out but what i find interesting you know you're talking about a change since uh a year ago april except it hangs out around the zero line until august so really this change is you know it's it's up uh about 80 85 percent it looks like 85 percent


from last august so it's actually happening much at a much more accelerated rate than uh the same time last year so uh yes we we have inflation in certain sectors however i still expect some sort of major deflation that comes along with a crisis and that deflation you have to measure the stock markets and real estate as part of the deflation and then overall you'll see that dollars are vanishing from the economy you will see m2 contract as banks stop writing new loans and don't roll over old short term loans


i still believe that that short term deflation is coming over the long term though there's no way that you you you have to have uh inflation because basically it's you know it's the quantity of currency times the velocity of the currency and we've had uh the pandemic slow velocity while they increased quantity but the velocity is artificially low there's pent up demand uh as we you know there was another article that dan pointed out to us about uh all of the uh the ships that are uh


the congestion in the port of los angeles and the ships that are waiting that are sitting at anchor out off of the port waiting to get in and offload their uh goods uh the consumer this is one of the things that's hilarious we print all this these stimulus checks create currency out of thin air send it to people and what do they do they buy stuff that's made in asia so the stimulus is going over to asia toward the end of the article it says that you know the cost for a container uh coming from asia to the united states


is about four thousand dollars but going from the west coast of the of north america to asia uh to china is 630 because they're all empty going back they need to fill them and uh and and the rate coming here is quite high uh because there's so much demand right now so that means velocity is picking up that there that dollars are changing hands more often and so that will cause consumer price inflation inflation of things like food and televisions and and uh all of the stuff this stuff that


isn't isn't counted in the cpi right it seems pretty clear the cpi is going to be heading higher here at least in the short term and uh gee i wonder what asset you could buy to protect against the rising inflation mike huh so uh well mike here's some great viewer feedback this is in response to your video last week with dan larimer it's from glenn chapman this is the most important discussion in the world today and this is the most valuable interview so far in 2021 having loads of gold silver crypto or


fiat is completely worthless if we've lost our freedom our rights and our ability to communicate openly and control even over our own bodies this young man deserves all of our collective help support and assistance i bet you probably agree with that don't you mike absolutely and uh you know that's it's all about dan larimer and his new book more equal animals and i would suggest to anybody watching this video you know you're uh you're watching it because you're interested in precious metals


and you're interested in the economy but go take a look at last week's interview with dan larimer because this is one of the most important topics that there is uh how to range you know he's come up with ways to arrange society so that uh when we elect somebody we select for the very best traits in a human being to be able to make decisions and and to honestly be able to control things and be fair and our current system selects for the worst properties in in people and we end up with very


very low uh satisfaction ratings for our our own government after we've elected people the ratings you know positive ratings for government people uh the level is below 30 most people 70 more than 70 percent believe the government is doing a horrible job uh and i you can count me among them uh this is discussing uh ways to fix most of the major problems in society or the problems that that any problem that it doesn't address it fixes the problem that that problem flows from so uh we we have the opportunity


to do something great here i would suggest that everybody watch that video is very very important yes it is it's well worth your time if you've not seen it we'll put the link below the video here so as well as mike's book the link is also below you can read mike's book for free he talks about the cp lie as he dubbed it way back then there's a section on that in his book and you can read it for free so uh well mike on to our meme of the day so i i've seen this one i know what's coming so


tell us about this well you know it's ben bernanke uh sort of hugging uh janet yellen and it's a recreation of the scene from titanic but it's interesting that she's got her eyes closed and you know this is the titanic the ship is going down now i sort of imagine this with alan greenspan hugging ben bernanke hugging janet yellen hugging uh william powell uh and and then there's another janet yellen at the helm and they've all got their eyes closed what amazes me is that they've been able


to paper over things and pull rabbits out of hats now for 20 years and uh and but in doing so they've pushed us to an imbalance that when this thing uh does unravel it's going to be a complete enclosure so i want to thank everybody for watching we'll see you next time jeff thanks mike see you next time