hi this is mike maloney and i've got jeff clark with me here again for uh another frequently asked question jeff what do you got hi mike great to be back with you again and yes i've gotten this question a few times now so i thought i'd throw it out to you here in in a video and that is this went mike when will our big payday come a lot of us gold and silver investors have been invested for a while uh so when is our big payday gonna come do you have a sense for how much longer this is really gonna take


and uh could it even happen in 2021 could that be the the beginning of the big run up in gold and silver uh the short answer answer to the second part of your question is yes it could happen in 2021 i have a fee you know it's going to coincide with everybody getting scared and that coincides with the stock market not doing well usually uh so there there will be a day when it comes now the federal reserve uh is and the other world's central banks are all working on digital currencies and digital uh phone


wallets that will store the currencies and they'll be able to put currency directly into those wallets they're trying to control velocity and quantity directly they want a much you know the fed and the uh ecb and the bank of japan and so on uh they have influence over the quantity of currency and uh they have influence on velocity through interest rates and currency creation uh but the majority of currency is created by the banks it's created by all of us going and taking out a loan


um now uh when the day comes where uh everybody gets scared velocity slows again and they will start upping the quantity to try and counteract that because you know with with the digital phone wallets too they can go negative on interest rates and they can go severely negative where your currency just starts to vanish they're basically charging you interest to have the currency in your wallet yes i mean this is just so immoral it's just they're char they are you've got currency in your wallet like imagine


your regular old wallet and paper currency and the federal reserve is now going to reach into your wallet and steal a little bit of it every month this is crazy it's an insane world uh but our day comes when everybody stops uh trusted there and and this will come there is going to come a day where people stop trusting all of this currency creation that the fed is this expert and they know how to control the economy that day absolutely will come and when people start turning their backs on the dollar then you can see this


enormous rise but again you know um in our last video that we did uh i showed a chart of the performance of uh gold versus the stock market over the last century our day is you know the the we've gotten a taste of it it has been coming uh anybody that's been invested in this as long as i have i've been buying gold since october of 2002 and it was only 315 an ounce of the spot price on that first day that i bought it and i've been uh adding to my uh holdings ever since then uh i did buy you know


there's a little bit of silver that i bought at prices that are higher than today but not that much because i dollar cost average in over this long period of time i really did expect uh that this payday the big payday would have already been here by now but you know i've shown many times a chart of uh the uh greatly amplified echoes of the past it's uh the it's history repeating uh with a twist is the way i say it or mark train would say it that history doesn't repeat but it often rhymes and this


rhyme is so close it's incredible it's just that it's taking 2.42 times longer or 2.24 i can't remember uh and 1.8 times greater in magnitude the the target then is late 2023 if it if it stays on track and history uh has such a uh a close rhyme to the bull market of the 70s i'm not saying it's going to but that's also predicting a price over eleven thousand dollars an ounce in late uh 2023 uh so i think between now and then uh that there's going to be something that's hitting the fan


and when it does and when people get scared the rush into precious metals especially by like the institutional funds and stuff we were talking about in the last video and the big money that's going to take this astronomical because gold and silver gold is a tiny market but silver is a microscopic nano market i mean it is a tiny tiny tiny and it just can't take a lot of cash flooding into it without prices going astronomical so as i've said many times there will come a day where gold


and silver become unaffordium and unobtainium you won't be able to get it and if you can get it it's going to be at astronomical prices yes good point and since i'm uh confident in the big picture uh i'm content to just continue to accumulate now you know waiting for that because panics can happen fast and i i think that's probably what's going to happen at some point with all the overvalued markets that we have and debts and all the reasons that we've all talked about


i think a penny could happen relatively quickly and suddenly uh like we saw in 2000 when the nasdaq bubble burst in 2008 here in 2020 so it can happen quickly and suddenly and i want to be prepared before that because once that happens not only are prices going to be higher but premiums are going to be higher and soon after that we could get into this unaffordium and unobtainium you know situation that you've talked about so for me i just want to be prepared because i am confident in the big picture yes um


and uh yeah we do i i like that you're saying that you've got patience and you're i'm actually grateful for the extra time to accumulate because uh they have pushed this thing so far you know i really thought that the meltdown was going to come in 2008 when it started then i thought it was going to continue and they papered over it they didn't let it continue and so the problems are still there but they're festering even more the and they just blew every bubble that there was


even bigger and the banks the too big to fail banks are now even bigger every problem that existed and caused the crisis of 2008 still persists and it has been magnified and so they've pushed this thing you know if it if there was a meltdown then they would have been able to patch things up without the economy completely uh collapsing without them like having to start over from scratch from the beginning uh this time around i just get the feeling that they've pushed this thing so far that when it breaks this is going to be


a real calamity that this is going to be horrific and i am uh you know i've recently purchased a a farm and i've got my solar panels and and my own water source and uh i mean it's got me um i'm grateful for the extra time because i don't think uh pushing this thing further down the road is going to cause the results to be any worse than that what they're going to be already uh they're going to be bad i mean super bad whether it happens now or whether it happens uh three years


from now uh and uh the only thing that will the only difference that will happen is uh the greater the quantity of currency in the system the greater the amount of units of currency that will come chasing precious metals and the greater their ultimate price and if there is a complete collapse then you have to take a look at um how many people you know i wrote about this uh in my book but you have to take a look at how many people own gold and silver like in your city any significant quantity of it


and then imagine like if the currency actually went away and that we started using gold and silver or they backed the currency with gold and silver again basically the if if the people holding currency they've got assets but their currency becomes worthless they've got to sell their assets for something that has value that's the gold and silver and potentially cryptocurrencies and uh that means that the scale of the wealth transfer if there's a thousand times more people that don't


own any precious metals compared to each one that does this is a wealth transfer that could border on like a thousand to one uh ratio of uh it's it's it's enormous when you really think about it uh also uh there's one more thing um everybody compares uh a monetary meltdown to something like uh the weimar hyper inflation or hyperinflations that have taken place around the world and the wealth transfer is astounding then i can't remember the prices in gold that you could buy a


house for in berlin during the weimar hyperinflation or a city block i think it was 25 ounces of gold could buy you a city block in downtown berlin something like that i can't remember the exact amount so don't quote me on that but um it was an enormous wealth transfer however that was just happening in one country and it's a small country this is if if the u.s dollar has a problem and the euro has a problem it's going to cast doubt on all fiat currencies and i do believe that this


time it will be global and so you don't have you can't run to the fresh french franc the italian lira the us dollar and the british pound like the germans could you can only run to gold and silver and so that takes whatever wealth transfer we have for historical references it takes that and magnifies it many-fold yes very good point and you bringing up uh what gold would buy back then i had to pull this article up real quick uh back in 1980 at the peak you could buy the average priced home in the us


with 106 ounces of gold um back then and for silver it was 2 000 just over 2 000 ounces so uh i think that was not with a currency failure that was that you're talking about in the u.s in the last precious metals bull market and right now uh gold and silver compared to other assets are incredibly undervalued they're not purchasing single-family median price home anywhere near what they were back in 1980 and a lot of people will put up charts that show that gold did almost reach that uh with its value in 1980


back in 2011 when it peaked in 2011 but they're using monthly or annual data and if you put in data daily data we haven't come anywhere close so that that's another indicator that i use to show that this bull market is nowhere near being over yet these things have to when you're comparing stuff against stuff the stuff has to balance the currency is nothing but an illusion right a good point so that one wasn't the entire world rushing into it it wasn't uh a currency failure


uh it wasn't global uh it was uh that you're talking about what happened in the united states uh when we went off the bretton woods system and gold was equalizing itself with you know it was revaluing itself to account for all the currency that had been printed since we started the bretton woods system and well since 1934 when gold's price went to 35 bucks an ounce and it had been suppressed since then and so gold was just it was the free market revaluing gold uh to balance it against the other uh real stuff in


society well we've created a lot more real stuff and the prices of those the real stuff is a lot higher than it was back in 1980 and uh and gold still has an accounting to do yes and that accounting by any measure will be bigger this time around than it was back then so oh gives me shivers thinking about it mike exciting days ahead so well thanks for weighing in on this topic mike it was fun to talk about so thank you and i'll see you on the next one okay see you later jeff