gold news

 thank you I'm Charlotte McLeod with the investing News Network and here today with me is Peter crandidge of Peter kranich and company thank you so much for joining me always great to have you here same here Charlotte thank you for having me as well of course really nice to be catching up with you our last conversation was just over three months ago but a lot has happened since then if we look at the gold price we've seen it really take off it's been a decent amount of time above 2 000 although we've pulled back a

little bit since then I want to get your take on that price activity do you think we are just taking a breather right now before we go higher well in the short term the gold market has been actually a descending wedge formation since the highs near 2060. and that Apex where the two Trends meet is just about the end of June so we still could basically go back and forth but we should get a major decision between now and June 30th and usually about eight out of 10 times they break out to the upside in in a falling wedges we've seen

longer term what's real interesting now is we're over 10 years in what's been known as a coupling handle formation both in gold and silver no longer a technical formation builds a base when it does move one way or another the more powerful that move is going to be so with fingers and toes crossed that move us to the upside there are a lot of fundamental reasons to justify why one would believe that and even though we've kind of paid a price with pain going sideways it's actually

going to benefit the longer term move if I'm correct about it being to the upside okay very interesting and maybe we can talk about some of those fundamentals when it comes to Gold I remember in that previous conversation you are really highlighting the importance of Central Bank gold buying which I believe has continued into the first quarter so any thoughts you can share there yeah that still remains perhaps the number one issue but a close second is the continuing movement away from the United States as

a whole and the United States currency in part uh is clearly uh going to be a dividing up of zones in the world it may not all fall under the brick there may be separate ones that deal trading one with another but it's not going to include either the dollar and or the U.S uh as as a trading partner this is not idle chat this isn't rumor it's fact it's developing it's moving faster now than most believed it could and I suspect that it will continue in that manner and that is a lot another very

long-term bullish factor for the goal because the dollar going higher is always pretty much a negative for gold and that that I believe is seeing its best day so between the both of them and other reasons feel political and others the argument for gold Still Remains very very strong and let me just point this out to you what happens in the paper Market doesn't spill over to the physical Market when we have these rate days where we have these big one day down dates if you talk to dealers they'll tell you no it wasn't

that a bunch of people called up and wanted to sell and we had to sell into the market actually the opposite happens when we have those hard down days people step up and be in buyers paper Market still has an influence on the price of gold but I think it's a dwindling influence and the longer physical bullion is purchased by central banks and and serious investors which it looks like it is the more bullish I believe we can be for the long term okay a couple of really interesting points there that I think we should

maybe pull on a little bit the first one is this theme of dedolarization or brics currency or other the rise of other types of currencies this is something that I've been hearing more and more about and as you said I've heard a lot of people saying you know this is something we may have heard talked about for quite a while but now it really seems like it's gaining legs so any thoughts you can share there further about how we might actually see that play out well we've seen it already in

actual shrinkage of US dollar reserves around the world it's been fairly significant and it and it's actually increased in speed uh the rhetoric is being backed by substantiations by those who oppose the US dollar uh it's one thing to say it's another to actually take actions and we're seeing hot Creed actions the surprise may be how fast and and I'm not I'm not in the camp that thinks they're going to come out with a currency to replace the US dollar as a real currency but I do believe they're

going to come out with something that'll be competitive and certainly allows them not to have to deal with the U.S they've seen what the U.S has done by weaponizing the dollar against Russia no one would want that to happen to them either that's another incentive but I think the real key player the waterfall event that made this a true reality to car to occur was Saudi Arabia's action Saudi Arabia to openly speak about joining that group and also basically make peace with it was a far more enemy

than we could have ever been considered Iran and who's also all in that group in the new Trading Group is just further evidence that this is a reality coming to bear the other thing that I was interested in that you just were talking about right now is the lessening influence of the paper Market when it comes to code I'm curious as to what you see as being behind that well we we still don't see the I can't speak for Canadians because I don't have really any actions into Canadians at

this point but in the U.S market where I'm still active in a Planning Group we still see the retail investor the typical retailer best of having no exposure or little exposure to goal and if they do it's through some sort of paperway it's not an actual physical ownership yet dealers in the U.S are reporting tremendous buy-in we're seeing certain mints run out of certain so somebody or groups past the typical normal investor is buying it now one of the reasons why Charlotte I don't believe the retail

people will get in until we get substantially above new highs is Wall Street creates create create treats sorry gold like Kryptonite it is it is not something we're ever going to turn on and see mainstream Wall Street or the typical Financial networks speaking more than a minute or two about it because it flies in the face of what they do make the living off Financial assets plus once one acquires physical bullying it's hard for them to turn money on that because they're not going to collect the

fee basically to manage it they're not going to be able to easily switch it into other things so it's not a product uh that the typical Wall Street person wants but clearly we're seeing large-scale physical buy-ins so people either in the know or highly speculative or seems to be in my view ahead of the typical crowd accumulating recognizing some of the things we just discussed most importantly about the likely downfall of the dollar and the U.S as the ultimate Superior nobody even close

country in the world anymore and I'm curious also about you know something that's happened since we last spoke is the banking crisis in the U.S how do you think that plays into gold buying and also what do you think is coming next there because I think people are looking at this situation and they're wondering is there more to come well I think it aided it it is no question uh listen one of the things that they talked about if they ever do it I think would be the one of the most bullish things ever for gold there was

some chatter at the height of the fear that this could be a contango that would really cause a problem was that they were going to ensure all deposits now the main reason people have to understand why this was a hundred and then moved up to 250 000 insurance was to give the small investor who doesn't have millions upon millions of dollars Peace of Mind instead of keeping the money under the under the bed under the pillow to put it in the bank but if we start to ensure all deposit is if I'm a

bank officer I would say to my committee hey it doesn't matter what we do let's take whatever chances we have to the worst case scenario is the government has to bail out the positives so I think that'd be a very poor decision but I think the bigger issue now that's related to the banking is what's developing in the commercial real estate and Market in particularly office space we are seeing just all over major cities uh office space being abandoned or sold for far less than was even originally

purchased years ago and that also plays into what's happening in the major cities as well as people not going into major cities leaving them to lawlessness and what have you but the next problem for banks if there is going to be and that'll be for the small regionals is the commercial real estate loans a couple trillion dollars I believe are due in the next 12 months or so and it's going to be very hard we we deal just on a side note in another business of mine is a Planning Group and a lot of our

clients are small to mid-sized businesses around the country and what they've all said to T since the banking crisis is their Banker isn't as available as they once were and the ability to get credit or renegotiate loans that they've they've tightened dramatically and they have to because the regional small banks are not going to be bailed out in the same way as the Mages were the Mages ever since the JP Morgan have you have become too big to fail but not the local regionals I think you're always really good at

relating how these big events affect individuals so I wonder if you have any thoughts that you could share there on on the banking crisis and what it may mean for each each person what's not talked about and it said again because I deal with a lot of them the small business owner in America has been the backbone for the economy for a couple hundred years it's nice to hear about all the big things the major corporation is doing especially you listen to a financial network but it's Mom and Pop and small uh entrepreneur

people who've been the backbone and to a t in all surveys back it up never hasn't been more difficult for them to be a small business owner a lot have under tremendous pressures whether it's labor shortages outrages cost increases that they can't pass on a whole lot of host things so if the stock market which it really isn't anymore and I'll explain in a second but if the stock market is a place where you buy and sell part ownerships of businesses and the key to businesses the small businesses and

they're having a tough time then you really shouldn't be that bullish on the stock market the trouble is Charlotte 40 years ago when I first entered Wall Street 90 of the trading was retail now over half the trading is in passive funds that don't even trade and the remaining half about 75 to 80 percent of that is some computer-driven programming whether it's using algorithms of various strategies and straddles and all a lot of those people implementing those programs they don't even know the name

of the company or the presidency or what they do and they don't care so it has changed in that regard and I think that's a concern for the people that are still investing like it was 20 or 30 years ago this is not your mom and dad's Market anymore this is a high-tech Casino like operation that at times uh can have a major burnout and and can cause a lot of problems for a lot of people if the machines and all suddenly don't do what they were supposed to do it was very easy when it was one way

going up but now that we have somewhat of a two-way Market those machines could bear steal troubles down the road now Charlotte I'm not in the camp that hasn't been that's still looking for a 30 or 50 percent the client but I'm also not in the camp that's looking for a 30 or 50 percent increase I'm kind of like Switzerland which really makes me popular among nobody but uh I I do think that one of the big things people need to understand is the market is dramatically different than it was just

the makeup of it than just 10 to 20 years ago I think that's definitely important and I'm going to go on just a small tangent here for a moment but you know this year has really brought the rise of AI and people are looking at how can I use that when I'm investing so what are your thoughts there because that seems like it can be possibly a dangerous path for people I think it's a very dangerous path I mean if I was a lot younger uh I'm 67 so it may not impact me as somebody that may be 27 or 37 but any

mankind has always found to take wonderful inventions and turn them into bed as well as good but this bit going bad is really concerning I mean you you're talking about uh things that not only are we going to see a lot of typical jobs replaced uh but also no one knows it's amazing how things that were just we've used as science fiction when we watched the 30 40 or 50 years ago and how it's playing out now I mean if you look at the Jeffersons now I'm giving my age away but growing up watching them and if

you watch them now how correct whoever those people or those cartoon makers how many things that were shown there like mobile phones and all the other things that ended up basically happening and a lot of the past science fiction things where machines would take over ended up not well and I you know at the moment it's helping because it helped the stock market rally a lot of money went into these things well no we're reaching to Peak when we hear a junior resource companies gone from mining into AI so

that that probably would be the peak of that run but uh but all overall from from a Pure Life impacting there's some serious questions and you know Moscow I've been kind of impressed with him just so you know Charlotte he's supposed to be the richest man in the world but he seems to be more of a common man than the typical rich person and he has been absolutely clearly very concerned about artificial intelligence and what it may be so I he will always have my year and I think she should be respected on the

things especially when it comes to technology okay very interesting point thanks for sharing your thoughts on that topic so if we look again more at the General market so you said not expecting a huge crash not also expecting a huge upturn I want to look at what may be coming next from the FED we have the FED meeting Midway through this week we'll get the results we'll find out if they hike or if they pause or whatever they may choose to do it seems like people are looking for that pause but I'm I'm

wondering what you think we might see from the fed this week I think the market rallies even if they raise a 0.25 so long as the the speech or the comments after that is hey we did raise it but there's more chance of us pausing now in the near term than there was just a couple months ago the only way the market could sell off if somehow I think this is near impossible especially as we speak it's going to raise it you know 50 basis points or speak about a continuing even though earlier a few weeks ago

there were some fed Governors saying that we may still have to go higher but I think all the things are right now for them to hey say let's let's raise a 0.25 you know we help show that we're still Mindful and all but let's also put out wording because the BLS are the greatest magicians since anybody that's ever played in Vegas what they've been able to do with the monthly employment numbers listen I know economists can be wrong but they're just not wrong bat wrong 14 months in a row and that's how

badly the BLS monthly number has been missed and the reason is they've done such massaging of seasonals and other factors and when you see the household survey have such a discrepancy from their employment numbers I think the last when we had the weekly jobless claims and other factors I think the next surprise would be a suddenly weakening the employment numbers I think these numbers were overstated and they'll eventually show up months later and that'll play into the fed's hand of

not having to continually keep their foot on the brakes now what I think the mistake would be is but the Don't Worry Be Happy crowd will will talk about it is that they're going to go from tightening to suddenly loosening and that I don't think is happening I I clearly would bet that there's no cut barring something totally unforeseen in the world in the year this year the earliest possible cut and that's if there's a fairly significant recession which is still questionable would be in

2024 but I do think we're going to get a pause or a stronger indication that a pause is coming okay and since he mentioned recession let's get your thoughts on that as well I'm curious as to what you see coming because we do or we did earlier this year have the FED admit okay maybe we will get a small recession this year how are you seeing it I think two things are important in my book the first year in America is what will be the extent of the commercial real estate market the loans and

everything about it and how will that spill over into the day-to-day economy the other and I think as equally as important is China is on the fence now economically there's a both camps have good arguments there's a camp this is no they're recovering the worst is behind them they may not go back to nine percent but they're gonna they have the ability to ease a lot they don't have a lot of inflation this that the other that is a camp the same boy China has not only seen its best days but they got

some serious problems and and their caving could really take the world down with them so what I like to say to people right now is watch China because how China goes over the next six twelve months I can tell you pretty well sure that's how the world economy would go so I think watching China and also watching our commercial real estate market over the next few months will go a long way to be able to tell us whether we're going to have any recession or and if we do how deep it may be okay I think that makes a lot of sense

so those are some points for us to watch I want to get your thoughts moving in a completely different direction or at least a little bit of a different direction on uranium so this is a sector that we know that you're quite bullish on and prices are moving free uranium slowly but surely they're going up and I've been watching on Twitter the commentary there looks like people are getting a little bit excited what are your thoughts on the market what are you seeing well you bring up Twitter that

was actually what got me out a year ago because every poster was putting up rocket ships going off and talking a hundred dollars and to me there was reason to take you know profit taking the fundamental argument has never been better for uranium my saying has always been how goes Comico so goes the uranium Market they're the most bullish ever they're quarterly reports are the most bullish ever their outlooks are the most bullish ever and there's no way the world can go and have all the things it claims it

wants over the next 10 or 20 years and not have nuclear energy be a major major player in that so like you so long as not every other post is a rocket ship going up and everybody starts talking about a hundred or you know when I had a target from when it was under 20 at 75 and when it first got up into the 50s people laughed and said 75 that'd be 75 next week you know we're going 150. slow but steady the turtle wins the race right now all things look good they got a little ahead of themselves I mean if

you're short-term oriented there's a chance for a little pullback but if you still if there's anybody still that invested for years that market still has a very long way to go before you can call it over valued yeah that was definitely going to be my next question because you have told us before it's the turtle in the race it's so unsteady but I was wondering if we're getting to the point where people if they are not in they should consider getting in right now so any thoughts there further or maybe

we can talk a little bit about portfolio construction as well when you look at uranium because obviously you would include camaco how else might you structure that I think the first way is is to the few companies now that actually have physical ownership of it you know whether it's brought there's a couple new ones that have been introduced is not yet because there's just not enough publicly and won't be publicly producing companies to even have a mutual fund or exchange trade in front

of them they're still mostly expiration and development companies and all I've errored I guess because I lost enough money over 40 years especially the further you go down the food chain that I was going to stick chemical was going to stay mine I wasn't going to trade it so much there are a few Juniors out there just keep in mind that even if they're fortunate enough to find something and develop it it may be eight ten years before that actually becomes a producing mine and by then the cycle

could be over so uh I I really just think that it has a lot more safety than some other metals but it's a more difficult one to play because there's not a lot of different vehicles on how to play it still that's very true and I have kind of the same question when it comes to Copper it's another sector that I remember you're feeling bullish about but it's another one where how should you approach this right because it is very slow if you look at an Explorer there's a coming supply and

demand crunch that a lot of people see coming for copper but I would imagine you want to be involved with companies that will actually produce something in this this cycle yeah so I would have I've certainly said I didn't think of going to 350 and it got down to that level so anything substantially lower than that then I was completely wrong uh I think what here's what it is if you're investing criteria is six months or less there's still an opportunity to possibly buy them a little cheaper there's two

things pressing against Copper at the moment still the talk of recessions they're seeing the oil price come down the scene a lot of reasons copper has always been viewed as just a in normal cycle times a canary in the coal mine that you know when economies get weak copper goes out and that was true from the past but if and it's even this is being questioned out but if we're having this truly great electrification of the world there is clearly nowhere near the amount of copper readily available to supply

the needs for that in fact there's probably been less significant new discoveries in Copper that I can recall that can come on in the next five ten years since I started 40 years ago so if there isn't a bad recession or better yet there is no recession or even a slight pickup in economies and electrification movement continues they're going to need five or six dollar copper price to really drive the tens of billions if not hundreds of billions of dollars that's going to need to go into

capex to go out into a world where miners now go listen there's a whole lot of safe places anymore Charlotte I like to say this all the time 30 years ago we could have spun a globe here Point our finger it out looking and go yeah it's okay to go to that country not anymore a lot of places in the world that just miners are going to think twice or not even consider going that they would have 20 or 30 years ago and what the copper mine is doing right now are smarts what the oil companies did instead of going

spending and borrowing like crazy to explore for new stuff they're trying to acquire all they can of existing and then once that's dried up then they're going to have to go out into that that's why emerging producers in Copper in good areas for me good areas is North America I still don't have any I might be fearful of California but the United States as a whole and most the calendar as a whole uh mid X come in producers or small producers but likely to increase higher they're going

to be the targets of of increased M A we just saw it this morning a lady put out a very good statistic of how little money went into new expiration in 2022 and looking back several years how much less than it was 10 or 20 years ago and suddenly the world's going to wake up and go yeah we want all this stuff but we don't have the medals to deliver on it and that's probably when we get the explosion that we've all been waiting for in mining chairs and metal prices it makes a lot of sense and going back

to when you're first answering that question you said if the electrification story ends up happening so I'm curious by what you meant by that are you seeing what threats are you seeing there I don't know if I'm ever buy an electrical car to tell you the truth uh so long as I think there'll be gas maybe and I'm old-fashioned the younger younger people think different than that but we are starting to hear Rumblings of not everybody's satisfied there's a lot more issues with the cars themselves the

cost which nobody thought of if a battery goes uh it's not a couple hundred dollars the ability to deliver electricity think about this Charlotte both I don't know I was watching Canada but in the last couple years in the US there have been many brownouts and blackouts because you just couldn't deliver electricity well if we're going to go from whatever the number is now double a triple the amount of cars will be Electric in the next five or ten years if we don't increase that power production and the

structures to deliver it I I was told one time about four or five years ago by somebody that knows a lot about the electrical grid system this his joke was it's so old that Thomas Edison installed some of it and it's true we have some very we have a broken way in the United States and again I can't speak for Canada the grids are not all connected uh there's a lot of money that's going to be need to spend and it's great for politicians who who just proved again with our debt crisis that they can spend

money that we don't have but there's a lot a lot of money that's going to be needed so there is I think a pause that one should have that it's not going to be just like that but even if it's not just like that it's clearly made a bet it's moving to a more like that and even if it's just more like that there's going to be a great need for copper and other type of you know phosphates to go along with the lithium things of that nature for the batteries and all so that's but you need

to keep that in the back of your mind it may not happen as fast or as big as everybody thought just a year or two ago right okay that makes a lot of sense and I know for some people because of that type of trend they're now looking a little bit more closely at oil and gas or even coal and seeing opportunity there because people are trying to abandon them faster than they actually can so do you see opportunity in those areas as well during this transition time so when when the Russian crisis

started and oil was well over a hundred what little knowledge I had and I said to people listen this is a great price if you own them get out this is the best it can be but now we're getting to the other side with it the pendulum is swinging to where it's starting to get really attractive again now that's because you know there's great concern about recession still at the sorties didn't get more than a day or so bounce on their their latest news and natural gas you know it's completely collapsed

again but what's crazy about this is here in the United States we went from totally dependent uh independent from the first time in decades to having to send a guy over to kind of beg and and kind of Po the the sorties and then we're selling off our strategic Reserve which shouldn't be this we should be building it not selling it in case there is another shortage so I I believe there's another energy crisis coming I like you you may you made a very good point people have abandoned

the thought that suddenly No One's Gonna need this and it's not true especially outside of a few major countries there are countries that just aren't going to be able to switch like that and so when Obama major oil company right now why do I want to go out and spend billions to find new oil fields when I'm being punished in every simple way by my government I'm being called the bad person uh you're taking away my ability to explore you want to charge me extra because I make profits and I ran my

business well all of that let's just stick with what we have why do we got to go out and find any new stuff so there's going to be another energy crisis and probably on on another 10 or so percent pullback I myself I think it's going to be time to look back at those type of Investments I certainly don't think they're overpriced anymore so if you're willing to give up being a little bit early that's the type of Market that maybe needs to be Revisited at this point right it seems like we're heading toward

kind of a bad mix of situations where countries want to become energy independent for example but they also don't want to spend money on exploring within themselves for those resources so it seems like a bad match up there yeah and you know the self-sufficiencies you know take Canada Canada really has forgetting all the political stuff for moments it could be self-sufficient on natural resources there's enough energy and water and a land to grow food and things of that nature at all the problem is is that

certain countries now are seeing a big mocked increase in Immigration and what have you and no one's thinking about you know how do we Services people here in the United States the one of the most UN talked about story and it's something that my wife and I do in our personal life we work a lot with food banks the amount of people that are appearing at food banks now and the level of where they work has increased dramatically so it's no longer just somebody really on hard times or you know working very

middle class working people you know they're two-thirds of Americans are working paycheck to paycheck so any little swing impacts their their line we saw a tremendous increase in people borrowing and using their credit card to pay for Necessities like food it's it's a story that doesn't get a lot of press I guess because it's you know it's not something the typical Wall Street firms are going to talk about but the underlying economy which most people live in is impacting that and and it's

only getting worse and it it it it'll bring in a social issue among other social issues and I'll just add what will rival our debt crisis in the United States is the coming retirement crisis you cannot have two-thirds of Americans working paycheck to paycheck and expect them to enter a retirement phase they're not going to have the ability to save enough money to do that that's a problem that's for down the road but that road is getting closer by the day but that maybe we'll talk about another time

yeah I think that's a great one to save for another time you could have a whole discussion just around that and as we are finishing up a little bit here I have a couple of questions on the Juniors so we've talked before about the challenges that the Juniors face they face a lack of interest from generalist investors it's hard for them to get money they have long time Horizons they aren't able as you've told us before to Market themselves as effectively as they could so I'm wondering you know what do

you want to see them doing how can they address those issues and when you're looking at companies that you're considering what do you want to see so we were having a great conversation if you could have stopped here and not talk about Juniors I would have been a real happy I'm so sorry but I will talk to you I just literally just wrote a couple of days ago a commentary called Junior resource stocks goodbye or goodbye the the two there are a lot of reasons why they have challenges but let me discuss

the two here that are most important the biggest single one is this a junior Resource company 10 or 20 years ago marketed their Wares mostly through retail financial advisors and stock Brokers what we call 20 or 30 years ago and there were thousands if not tens of thousands in Canada and the US whose book of business each day was buying and selling individual stocks and several of them specialized in resource stocks so if the junior was able to get he or she interested in their company they got

their 100 200 400 500 clients interested those are dinosaurs there may be a handful of financial advisors still doing that but each state is less and less so now that same Junior company or same type of Junior company has to get to if those end users still exist has to get to them in a different avenue or more direct not in one big punch with it with a hand that that the broker had the second issue that they have challenged in is regulatory in the United States if it doesn't trade on the major NASDAQ or the New York Stock

Exchange even discount brokers aren't allowing retail people to buy that stock even though it has an OTC symbol and then The Regulators Who oversee the exchanges they basically said to a junior you can't say anything that's sizzle well the only thing a junior normally has a Sizzle it has a lot of hope it's hoping they found something there to hoping it found something there so their ability to sell their Wares and that doesn't mean to sell an ending wrong it's just to conduct their

business it's changed dramatically and none of it's been for the better so with all of that discount commissions where people can now trade for little or no so you used to buy it maybe cost you a couple hundred dollars to buy your position that you were buying in the junior now it's costing nothing to fight dollars people tend to trade them more as well now uh so the and and the competition the the Cannabis the cryptocurrencies where a lot of money is gone it's disappeared it's been lost uh

that was areas that might have seen a good sum of that money flow into the junior resource market so it's it's the most challenging time and that's one of the reasons why I think there's such a discrepancy in why they're so low price compared to where the medals are and I think it's going to take medals making new highs goal getting above fits old high being there being on regular Financial loses that'll bring some people back we haven't seen really mocked increases in the number of mutual

funds or fund managers that invest in juniors the real challenges if they're not in an exchange traded fund they almost can't get any institutional interest now so there's a lot a lot tougher for a junior Resource company all things being equal all of them still saying that they're going out trying to do an honest day's work than it was 20 or 30 years ago okay well sorry to hit on that point but I think these are really valuable insights for people because I know many of our audience may be out there looking

at their portfolios and wondering what is going on with the metals prices really doing quite well in many cases and and still waiting so it makes a lot of sense so they know there is one person from the financial advisory size who clearly admits they're in the same boat you may not know that by reading or listening to a lot of these folks that still do this stuff but I'm in that same book too if you would have had this interview six months ago I would have told you there's no way the junior

Market's going lower but it has and that's why I had the right to report because either they running a bell and I didn't hear it and it's all over or it is as compelling as it's ever been in 40 years and I'm hoping it's the latter okay okay so it is it is a good buy it's in good to buy right now instead of goodbye please God please all right I will wrap it up there unless you've had any other thoughts that you wanted to share with the audience well I I would say that and and

why one of the reasons why I wanted to come on with you is the service that you're providing now is far more useful than turning on a typical Financial Network though Financial networks have become so one-sided and so much against many of the things we spoke about the markets that we spoke about so I only hope that people like myself help contribute to your viewership and the work that you kind of do because if you if you if you only can count on the major Financial networks at least here in the U.S you're really going to be up

up the boat up the creek without a paddle so thank you for being who you are and the group that you represent well thank you as well so much for coming on to share your thoughts I think it's always so valuable for the audience to hear what you have to say about the markets it's really great to have you God bless all right thank you and once again I'm Charlotte McLeod with the investing News Network and this is Peter grundich with Peter grundage and Company [Music] foreign