The silver's bull run hit a CME circuit breaker, but the cycle won't stop. Money is unraveling, confidence is eroding, price signals are returning, and silver is leading the way. The bull run didn't pause, the [music] exchange did. That tells you everything you need to know about where this cycle is going. [music] And he has nailed it here. Wow, what a day. Trading was halted across many of the CME markets. This is a Chicago Merkantile Exchange. This includes futures, derivatives, uh


currencies, and uh gold and silver. And uh right away after this happened, whether this is the issue or not, it doesn't really matter. I'll show you later. uh all the uh silver people came out and said it's silver that broke the system. They shut all of this down because silver is out of control. And that is a reasonable possibility. We've got very very low stocks in London and so on. the the supply demand fundamentals for all of this is so it was blamed on a cooling issue that this


uh data center had exceeded its capacity to cool. Now uh there's some good evidence that that uh may be the the truth. Uh but I'm going to show you later that it does not matter. But this was an exciting day and there's some other things. Silver has basically done a breakout. So you need to watch this to the end. Uh anyway, uh we need to cool off the silver market reposition to avoid silver exploding higher. So this is the translation a cooling issue. Uh actually I'm not sure if it was uh


silver that caused this. I don't think so. But like I said, it doesn't matter. But uh all of the silver people came out and immediately attributed it to silver breaking the system instead of the si system just breaking. Anyway, uh gay rabbit finance, Hanza Churnney, uh and he could be right. Hanza has had some great information lately. Uh Shanaka says that it it wasn't the uh silver breaking the market. It it wasn't a cyber attack. Uh it was basically that and oh and by the way 90% of global


derivatives trading stopped not hacked not manipulated the cooling system failed in a single data center in Illinois. And he goes into the amount of power that this is sucking and that these these uh servers this data center was actually designed for 2015 capacity and it really hasn't changed and here it is 2025 and the amount of data going and processing going through this far exceeds it. But this is the tweet that I would like you to read. It is long. We will uh try to include the link at the


end or down in the uh notes below, but uh Silver's bull run hit a CME circuit breaker, but the cycle won't stop. And basically Ben Rickard is putting out the evidence here of why this cycle won't stop. And the great part is down at the end here. He says, "Money is unraveling." He means currency here. Money is unraveling. Confidence is eroding. price signals are returning and silver which is money uh is the underestimated monetary metal. Monetary means money is leading the way. Uh the


bull run didn't pause, the exchange did. That tells you everything you need to know about where this cycle is going and he has nailed it here. Please read his tweet. It's it's long, but it's not that long. It's going to take you two minutes. So, um, now they haven't even started the the shenanigans, uh, yet this month that they were doing, uh, last month and the month before. So, uh, this is from Nick Lair at Gold Charts or Us on 913. Gold margins were raised by 6.7%. If you remember back then, uh,


gold was moving first. Silver wasn't taking off yet. it wasn't breaking into brand new all-time highs like it is now. So that was 913. Then 9:25 they raised gold margins by 6.3% and silver by uh 6.7%. And then 109 they raised gold margins by 5.9 and silver margins by another 9.4%. Then 10:16, just a few days later, a week later, they raised gold by another 5.6% and silver by another 8.6%. And then on 10:23, uh, gold and silver by another 5.3%. They haven't even started this shenanigans yet. You're going to want to


hang on until the end here because I'm going to show you how this reflects on the 70s bull market. Now, uh, in looking at the price here, you know, we are up at, uh, some amazing territory here. We're right near the highs while while this is being recorded. But if you look at this, the the orange line is the 50-day moving average. And look at the support that it has given this all the way across. The green line is the 10day moving average. And the 10day moving average, you'll notice on uptrends like


this that it gives great support on uptrends and when it breaks it, we're in a little pullback. Uh well, it's given great support now every once in a while. Gold and silver and almost everything else in the markets needs to come back and visit its 200 day moving average, but that is a much more rare event. Uh so we've we've visited the the 50-day three times here. We've visited the 50-day. Uh it's worked off. It's overbought condition. So now it's sort of free to run and it looks like it is.


We have done a breakout and uh this is a you know we are over uh 3% above the previous highs here and that is confirmation of a breakout. Uh here it is on my own website golds.com 5653. Uh and then I the the main point though isn't to pay attention to all of the shortterm noise. Yes, some servers probably overheated. It probably wasn't silver breaking the market, but I don't know that. I can't confirm it. Maybe it was silver. And maybe this is all an excuse. Uh I doubt it. [clears throat]


Uh but because they didn't pull the other shenanigans yet, I'll get to some even greater shenanigans that they can pull when I do a comparison of today's market to the 1970s. Uh but keep an eye on the big picture. In September, I drew you these charts. Uh this is the big 45year cup and handle pattern that I believe I was the first one to identify, but it hadn't broken this yet and confirmed that we were off to the races. Uh here it is in linear format instead of log just to show this is the big old


beerstein. Cheers. [laughter] But in keeping an eye on the big picture, I want to compare this to the 700s bull market. So here you've got 1979, the last year of the '7s bull market because it ended January 18th, 1980. So th this is to January 19th, 1980 and it was 49.45. uh all of these because stock charts doesn't have the intraday data. Uh but that was the close. Uh it actually reached 5250 intraday. But if you look at what's going on here, it was rising and rising and rising. Now the Hunt


brothers had a major concentration in the silver market. And [clears throat] it is my total belief that the because the Federal Reserve was involved in some of these decisions, Paul Vulkar, but it it is my belief that the that gold was in a runaway and that threatens the survival of the dollar. The dollar had only been a fiat currency for 8 and a half years. Uh and uh they were trying to get gold under control. But gold is a huge market. it takes uh a a lot. Now in the silver market it was one I I don't


know the exact size back back then but I it was around 130th of the size of the gold market something like that. Um there are times though where it's only like uh 130th of the gold market instead of 130th. It was much easier to control and then the Hunt brothers had a major concentration. So they had basically a scapegoat and they had somebody that had a major concentrated position that they could break if they kept on changing the rules. So they went up and they they kept on increasing margin requirements


and increasing margin requirements, but still it did a breakout. So here we have roughly six bucks at the beginning of 79 and then we've got 1750 that higher than 1750 here uh in September and then at the end of November just like today. This is uh what was that 43 years ago? Um uh something like that. um it it did a breakout and uh started a run and they would increase margin requirements and increase margin requirements and then they put in position limits. Uh a futures contract is 5,000 ounces. Uh


they put in a position you could only hold so many futures contracts and that caused major players that had very large positions to have to dump a whole bunch of their silver. But that didn't stop it and it kept on running and running and running and then they finally had to put in a rule liquidation orders only. Now we haven't started any of this shenanigans yet. Now, in my study on this, I mean, I'm dyslexic, uh, and I couldn't read this many books, but I bought a stack of books this high. And


the uh best one of them was called uh manipulation on trial. And it was a study of how the government and the uh the commodities exchange broke the Hunt brothers uh with all of these changes, especially the position limits. And this actually caused the bankruptcy of Englehard refinery. Um it it was a huge scandal and there were trials afterwards. Uh but they couldn't prove anything but during these trials it was found that most of the people running the commodities exchange were heavily short silver and they were uh they were


being dri basically if they hadn't stopped it they eventually would have gone bankrupt. Uh, so the people that make the rules of the game were short silver and something had to be done. But also gold was in a runaway and we came very close to losing the US dollar back in January of 1980. And so if you can crush uh the uh silver, a whole bunch of people that trade silver also trade gold. All of the brokers that do gold and silver trades do both. The in in the commodities exchange back then in


Chicago, in the Chicago Merkantile Exchange, there were pits, circles of guys uh doing hand signals and screaming at one another and doing all of this trading and uh the silver pit is right next to the gold pit. And don't you think like on a bathroom break or something they talk to each other? And don't you think that uh the gold guys go, "Wow, if they can do that to silver, we're next." And gold and silver peaked on the same day. They put in a rule called liquidation orders only on


silver. And that is a rule that says until this rule is lifted, the price of silver can only go down. It means that you can close out existing futures contracts, but you cannot buy a new futures contracts. If there are no buyers and all you've got is sellers closing out old deals, that means the price has to fall. Period. And so this is a rule that says until this rule is lifted, the price must fall. And don't you think the gold traders go, "Oh my god, we're next." And they all said


sell. And that's when gold and silver peaked and the dollar survived. Now history is repeating and it is interesting that this breakout is coming on approximately the same day 40ome years later uh um as it did back in November of 79. And we may be off to the races. So, it's possible by next January, we could be seeing some very, very high prices in silver. But to account for the expansion of the currency supply, to account for the growth in GDP, perhaps we need to move this decimal one place to the right. I


want to thank you for watching. We'll see you next time.