gold news

 here's what i know is silver silver really should be triple digits and it will be one day hi this is mike maloney and i'm joined today with jeff clark and a special guest dave morgan who has so graciously uh stepped in to cover for adam taggart who was on vacation in hawaii jeff what have you got for us today i've got lots of very interesting things for you guys today david silver guru thanks for joining us we really appreciate it oh my pleasure always thanks well this first item is our

news article today and it's an article i wrote that we posted yesterday that's been getting some attention uh in various circles including twitter and that is that i think a new inflation era might be upon us and in this article what i liked about it is is that i go back and do quote a lot of research that has been done a lot of historical studies that show why inflation is virtually guaranteed at this point that it can ignite suddenly that most investors have no experience with high inflation

and that the traditional inflation hedges are actually overvalued now and so may not offer the same kind of inflation hedge they otherwise might leaving us with just one option but mike what do you think of this article about inflation may be ahead here this year i think you're absolutely right uh you know and you're quoting official statistics and it's really interesting you know um there's a chart in here of the u.s federal deficit being the largest in history but uh that's that's nowhere near what it's

really going to end up at you know uh a while back uh i did something called early warning and i had my researcher add up the cumulative uh budget deficit surplus each year and then the uh cumulative the the uh change in national debt for each year and uh we were at about a 19 trillion dollar national debt then and the cumulative budget over the same period of time from 1967 to today uh over the same period of time the budget deficit only added up to about there was about a seven trillion dollar

lie they always lie this is part of the uh job requirements if you're looking for a job in government parts what you've got to be able to do is lie convincingly and so uh it's going to be a lot worse than this and i think this is a great article because it does show that energy gets stored for a little while they can create all of this currency and it inflates this asset class that asset class it might inflate savings but after a while it's all going to come out of hiding and then you've got raging

inflation what do you think dave yeah i agree i was thinking about um katherine austin fitz and professor skidmore that showed there was like 20 20 or 21 trillion that really wasn't accounted for so we can add that on and the thing that i've been trying to stress over the last few interviews on this topic is the unfunded liabilities i was on a national radio show and i said well we just kept spending you know like we get with and i say no because we have promised future payments to social security

medicare medi-cal the military pensions and all that and that if you do the math it's and it's arithmetic is so astronomical there's no way it can be paid in real terms and nominal terms sure you can get that you know four thousand dollar five thousand dollar check every month but as alan greenspan said some time ago we have no limit we can always fund it what we can't do is guarantee the purchasing power of it yes very good point well i did tweet of the day here this is from deborah

robinson of silver squeeze and she shows a chart here from solidus max and this is basically gold priced in the turkish currency the lira and you can see how astronomical it's risen here from since 2016 it was under 4 000 lira it went up to over 16 000 lira uh at the end of last year uh since pulled back a little bit but deborah's point here in her tweet is saying this is the u.s gold price in the next few years david do you first what do you think is this the gold price over the next few

years i do believe so i know we're in a trough now we're in a trading range but you know one thing that we have discussed for years is that you know gold is like a hedge insurance it's a discretionary you know if you've got a big portfolio you should hedge it with gold but there's going to be a day where it's mandatory and absolutely everybody has to have it or they don't have anything and that's what we're seeing with the lira and that's gonna happen the dollar

there'll be a day where you don't want dollars period you want anything that has value in the future and you don't want the dollar and that's the idea is that it becomes from a discretionary investment for the rich or whatever it's for everybody absolutely everyone but the idea that it becomes mandatory everyone knows that the time has come and when that trigger point that tipping point that consciousness that shift in ideology changes and it can happen overnight you're going to go from you know one out

of 100 people wanting precious metals to 99 of 100 people want it and that's when you can't get through the door i just want to give a real quick one and this goes back i'm looking at my old stuff but you know what every um austrian ought to know about the hard money movement for mark skousen i mean this stuff is built on principle and the principles are there regardless of the day-to-day week-to-week month-to-month buzz and mainstream jibber-jabber i want to comment on that you said like

99 out of 100 and i think even that last person is go that last person that misses the boat is going to be out at an intersection shaking a cup hoping for a silver dime the other thing is uh silver is tremendously undervalued still compared to gold even with the recent change in the gold silver ratio and it's a much more rare commodity because we use so much of it up and uh because it the vast majority of it comes as a byproduct of mining uh base metals that require a good economy that require an economy that's using up

a lot of copper a lot of zinc a lot of lead and uh so when all of that supply goes away just when one of the things that you said years ago it's monetary demand that is going to be the thing that lights the fuse under silver the the and you know where it really takes off from the launch pad and goes to the moon uh and i absolutely believe that and the day that everybody needs gold this is the day that everybody is going to want silver but they won't be able to get any right very good point well if you like

what you're seeing here please hit that like button below and be sure and subscribe so you get our videos on the chart of the day here and this is from goldventures on twitter uh he's a good follow on twitter if you're you're on that and this chart basically shows that silver just this morning hit its 200-day moving average and bounced off of it so david what do you think this is some compelling evidence that gold may have hit a bottom here maybe what do you think i do i do jeff i also think that silver

as much as it's managed is showing great resistance i know the price isn't where it really should be in a true free market but i think it's showing such resistance with all that's going on that i'm pretty happy actually with the fact that it you know it resists it's being powerful even though the price again is not reflective of what it should or could be it's saying it's staying strong and i like that and i'll stop there what do you think mike is uh bouncing

off its 200-day moving average is this maybe the bottom for silver what do you think um it's possible uh nobody knows we're at this inflection point where the the entire world has gone crazy basically and but silver has a big history of uh it doesn't necessarily respect the 200-day moving average as much as gold does when it pierces it it pierces it by a lot and you have to look at other support resistance factors and so you know if we right now it has made a bit you can't see it on this uh

chart but it has made a bit of a head and shoulders pattern it's violated the head and shoulders next stop should be right around 22. uh if it breaks that support level which is a long term i mean it goes back more than a uh about a year now that support level a little less than a year i guess um but if it breaks that then the next stop is uh you know there's round number support of 20 and then there's like high 18s low 19s potentially nobody knows but here's what i know is silver

silver really should be triple digits and it will be one day there's no other asset that's still selling it is at a discount to its 1980 price everything is 10 times its 1980 price at a minimum and so uh well not gold yet but it will be so gold and silver are not they were in a bubble in 1980 but to be in the same relative type of bubble you would have to have at least five thousand dollar an ounce gold if not forty thousand dollars an ounce gold and then you'd have to have a gold silver ratio that's somewhere below

20 you know like 10. so now you're talking about five that would be 500 silver that sounds crazy i'm saying that silver's destined for the triple digits what do you think dave i agree i don't know where it lands and i'll just back you up i mean silver surprises everybody it doesn't adhere to the charts or technical analysis as well as some other commodities but yeah the future is higher and brighter and i'm just gonna chime in off topic real briefly that there's you know there's signs right now that

are visible like the perth mint having issues and there's another bullion place in australia i'll be doing an interview here shortly about that but you know the headlines that are in the australian paper is it's like the perth mint versus the conspiracy theorist and i'm sorry to digress mike but i think it's important because the whole idea about conspiracy theory is a meme that's generated basically by the cia at least that's what a lot of us have researched and it's a connects your neurons it's

kind of a mind control mechanism if you use those two words then people automatically slough it off so i'd like to say this it's either true or it's false it's not a conspiracy it's either true or it's false and the truth is that the perth mint is unable to deliver now whether it is one person or a hundred or a thousand it remains to be determined but i don't have to make my case in court that there's a non-delivery and have a thousand i just have to prove one and so i'm a little upset by this

because i've seen it so many times we saw the northwest territorial mint go down we saw talvin go down we saw morgan stanley got a big fine for buying silver and pain people are paying storage didn't have any at all i think they did it twice ubs did the same thing so i went on a kind of a twitter frenzy last night and went back in the history i think i shoot three four or five of these instances in the past where these mints and also brokerage houses that purportedly was storing physical silver for you weren't doing it

and this is something that really really irks me because it's fraud and i think it should take more than just a fine i think there should be people that actually pay the price like maybe not behind bars but they cannot do business in the silver market anymore that's what they did to the hunts so what's good for the goose is good for the gander if you're manipulating the market mr hunt and you can never get in the silver market again how about ubs never in the silver market again how

about you know so i'm sorry i'm on a rant honest to goodness you know i i am about fairness and honesty and i really dislike what's happening mike so do i and i have to say that uh when fines are issued they need to exceed the profits that you made by stealing because that's what they're doing when you know uh the commodities exchange and the manipulation that has taken place uh by the big brokerage house houses and even the uh the uh people that set the london fixes being able to know what the

price is going to be and front run things but all of the uh the the uh spoofing that they do on the markets to manipulate the price this way and that way and then just vacuum up all of the the pennies you know they just they manipulate the price constantly and they've been doing this for decades and then they get this little slap on the wrist they get a 300 million dollar fine or something when they've made 10 billion so it's like okay let's go out and do that again but yes you know one of the things you

pointed out was people uh selling silver that doesn't exist and then uh then uh charging their customers for storage and this has gone on for a long long time a lot of people have sort of forgotten about this but uh it it shows you why you should be storing with a third-party uh vaulting service like brinks when when somebody buys a storage account at gold silver when they buy metals and they choose to put it in storage they're putting it in storage with bricks brinks does the auditing we don't have

anything to do with it brinks just wants us to do the billing for them that's all they just don't want to have to bill 10 000 people they uh want to build one and then it's our job to send out the bills to the individual but it's not us storing it it's brinks security and nobody has ever lost a penny with brinks it's not a brokerage house it's not part of the banking system it's fully insured and this is one thing that people regardless of what dealer they buy from

if they buy they should be buying physical and if they're going to store it needs to be stored with a third-party vaulting service that has insurance and a reputation so i'm done with my rent but uh yeah it you know and when these big entities can sell you silver that doesn't really exist you know they've sold you physical silver they're charging you for storage but actually they've just got futures contracts they've got some price exposure and so they're raking in on storage that

doesn't exist when they do that they didn't actually have to go out and buy the physical and take it off of the market and so if you're buying something that they can create in unlimited quantities you're not causing the price to go up right very good well good rant you guys and yes third party fault story just very critical so well on to some reader feedback here mike this is from jedirai if i'm saying that right i still remember when people were outraged at the first bailout

and it appeared it was a one-time only caper fast forward 10 years and look at us now five years ago i found hidden secrets of money thanks mike i'm all in a physical in the minors the countdown is still ticking and i'm buying every dip i can what do you think mike so one thing that he did say is that he's all in on physical and the miners and when you introduce mining stocks you're introducing leverage and all forms of leverage can be dangerous and here miners if you're an amateur there's a whole bunch of

unknowns one of the things that robert kiyosaki used to say is that investing is a team sport and it is especially when you're going into more dangerous waters miners can do things like they can have a mind collapse epa restrictions they can be in a jurisdiction that's uh dangerous where the government actually nationalizes the mines they can have labor strikes there's a bazillion things and they can have a bad team bad management you have to have your own team when you're introducing leverage and that comes with

things like newsletters and there's lots of great newsletters out there there's great advice that you can get you need somebody that knows how to analyze a claim a mine and to be able to look at the team and see what experience all of the people in the management have had and uh so that's what dave does at the morgan report and if you there's a whole bunch of them out there so you're not just it's not just silver investor there's a whole bunch of different uh reports out there that you can get

but you definitely want these people on your team if you're going to go into the miners don't just go into it blindly that's you know i rarely give advice i tell people what i'm doing uh but here is one thing i always say the only advice i give is that you want to increase your financial education and having a team is part of that you're learning from them so uh if you're going to uh dabble in the mining stocks which does introduce a lot of leverage and you can make some huge gains

please go in it with your eyes open and go in it with a team uh so that's all i've got to say on on on that one so do we go to the meme next jeff the meme that's great let's get david to weigh in on that uh okay what do you think about uh you know gold and silver versus the miners well i've always said physical first and then the minor second and you know i was a newsletter junkie in my youth there's a lot of good ones out there no one in the industry gets it right 100 of the time it's very structured top

tier mid-tier and speculations keeps it in a risk-reward profile that's beneficial to the investor and that's my basically my mantra that's what i've been doing for you know many many years and i continue to do so yeah very good uh david's letter is great i can personally attest to that he and i love the investing in the minors but like mike is warning it is risky so you have to be aware of what you're getting involved in so if you haven't read mike's book uh the link is below you can do so for free

do yourself a favor and check it out so on to meme of the day so mike what is our meme today our meme is that the best stimulus package would be a zero percent income tax and it's absolutely true so i want to thank everybody for watching and we'll see you next time thanks mike thanks david thanks guys