gold news

 This one person has taken almost half a billion dollars of delivery of silver in just the last three months. Suddenly there are massive gold inflows happening right now in the United States. Uh you've heard probably that they've proposed auditing Fort Knox and so on. Have you heard that? Okay. So I think that this is actually the bullion banks trying to cover their butts. The Federal Reserve, they have a lean on all of that gold. It was used as collateral. The economic result will be akin to giving

oneself a root canal with a shotgun. Effective but fatal. We have this giant cup and handle that is predicting tripledigit silver. So we're in the low30s right now. Probably somewhere between $150 and $500 an ounce for silver. Let me just introduce uh a gentleman who changed the course of my investment career because he woke me up to the ideas that precious metals could be somewhere in my portfolio. And just like you wish you had bought Bitcoin when it was $3, I'm thankful that I bought gold and silver when it was a lot

less expensive than it is now. It's not an investment in my mind. It is absolutely insurance. Uh it's a hedge, but it also lets me sleep at night. He's not here to talk about gold and silver even though he's the bestselling author in the world on gold and silver. He really is uh driven by paying attention to uh macroeconomics. So with that, please welcome our good friend Mr. Mike Maloney. Okay. So um that video that he was testing out uh this happened just yesterday. real quick. Uh what they

discovered is that the Treasury General account, there's like, he's going to mention it, 580 different agencies in the United States. Each of them has a checkbook and they just send an order to the to the Treasury to pay this bill and the Treasury does it right away. No questions asked. There is no accountability. There's no u payment number. There's uh nobody that they can call to ask what was this payment for? uh who authorized it and that makes the federal government not auditable. It's

this is a scary situation but there is uh over half a trillion dollars worth of fraud that has been going on. Uh and it's been going on for years. You know, when I first got back into the when I first got into precious metals, I think about 2003 was when I first started downloading the financial statement of the United States every year and going through every page of it and putting tabs on it and highlighting stuff. And um it always David Walker the the uh controller general of the United States

back then uh head of the government accountability office would always start the thing with he cannot give op an opinion because of uh the lack the material weaknesses in the uh accounting of the government especially the military. It's like they just spend and they uh don't tell you what for. And so um this was yesterday they are changing these rules and the problem with all of this you know the doge agency the department of government efficiency Elon Musk they found all of this fraud. So

now there's already half a trillion dollars that has been discovered that they are going to cut out and they're going to save us all wasting all of this tax money. But the problem is they haven't uh lifted regulations quick enough on business to grow GDP uh faster through private business taking up the slack before they cut out all of these payments. And even though it's fraudulent, it goes to somebody that's going to go buy groceries and gasoline or invest in the stock market if if

they're rich off of the graft that they are uh taking from us all. So, we're going into a recession anyway. And then they're going, you know, we the government spends about $6 trillion a year and they're going to cut that to 5.5 just like like that. And that means that GDP has to shrink. And hold because I think we have this. Okay. Well, I'll try it first. I'll try it here. And it is alarming how the financial operations and financial management is set up today. There is actually really only one bank

account that's used to disperse all monies that go out of the federal government. Talk about one bank account. It's a big one. It's a big one. It's a big one. It's a big one. Um a couple weeks ago it had $800 billion in it, but it's the treasure the the Treasury general account. So when you hear, you know, some of my colleagues here what they're talking about in terms of the fraud, you have to ask, well, why is this allowed to happen at a financial level? Well, it's actually quite simple

but alarming. The Treasury up until now, and thanks to President Trump, uh we're fixing this. In fact, there was an executive order that he just signed uh the other day, which is protecting America's bank account because it really is the taxpayers's money. You know, one, we're changing the culture. The culture is been not a lot of caring and not a lot of commitment to doing what's right relative to financial operations. There's a $500 billion dollars of fraud every year. There's hundreds of billion

dollars of improper payments and we can't pass an audit. The the consolidated financial report is produced by Treasury and we cannot pass an audit. We have material weaknesses. What that means is that if I was a public company CFO, I would effectively be removed. I couldn't file financial statements. I couldn't issue securities, which of course we depend on. Can't pass an order, right? The the federal government cannot pass an order. It's impossible. In fact, um um the the in order to pass an audit, you need the

information necessary to pass an audit. Um you need to have the payment codes, you need to have the payment explanation, and you need to have a person you can contact to understand why that payment was made. None of those things were mandatory. Yeah. Until until just recently, just a few weeks ago, in fact, maybe last week. Yeah. We're serving 580 plus agencies. And up until very recently, effectively, they could say make the payment and Treasury just sent it out as fast as possible. no verification. And so what we're doing is

what any household would do. But imagine you're a household, you have a bank account. Everyone has an ATM card connected to that account. Everyone has a checkbook connected to that account. It's not just your children. It's not just your parents. It's your in-laws. It's your extended family. And they all can go to the account and disperse funds. No questions asked, no justification, no verification. Okay. So, uh, like I said, this half a trillion dollars that they're going to

be cutting out of the federal budget, all fed into GDP. Somebody was getting that and buying groceries and gasoline with it. And we, it looks like we are already in a recession at this point. So, uh, Luke Groman, a friend of mine, uh, unless Doge follows the correct order of operations, devalue the debt to GDP significantly and and quickly via negative real rates, gold revaluation and etc., then cut costs. So, let the economy grow first and then start cutting out all of this. the economic result will be akin to giving oneself a

root canal with a shotgun. Fatal but effective but fatal. And so what I what you're going to see is I think that there is you know everything is a bell curve of probabilities. Uh the best outcome is a mild recession and then we've got a bad recession and then we've got total economic Armageddon. It is anything is possible. uh but they have to be very careful and they're not being careful enough. Uh let's balance the budget by crashing the economy into a recession and then we can e uh run even higher

deficits and t as tax revenues collapse. Now when I my first book uh guide to investing in gold and silver uh was released in 2008. It predict it was just before the global financial crisis. It predicted a lot of what happened. uh everything ended up being actually Ben Bernanki's response to the global global financial crisis. I had predicted that there would be uh massive currency creation but what he actually did exceeded my wildest nightmares. Uh so in my book I was going through I I spend a

lot of time on the St. Louis Fred. So, if you uh just do a search for that, you could they've got uh more than like half a million databases and you can generate your own charts. And I looked at the chart of tax revenues and I went, "Oh my god, that looks like the stock market." And so I brought up the tax revenues and the Wilshire Wilshire 5000 index and look at how they follow each other. And notice that the stock market crash of 1989, it was a reverse correlation. There is no correlation until you go

back to 1929. That is the last time that tax revenues collapsed with the stock market. And I called this the dangerous fog, FOG, the financialization of government. Government revenues rely on the stock market doing well these days. So, uh, one-third of government spend, one-third of GDP is government spending. And so if they cut down on government spending, they're cutting down on GDP. Uh they're getting ready, it seems like, for something big. Uh the FDIC ends disclosing the total assets of banks uh

on the problems banks list as disclosure might suddenly trigger a disorderly run. So there are some banks right now that are in some pretty bad condition. Uh this is uh the Atlanta Fed is the uh white line and they are predicting a uh contraction of GDP of 2.8%. So uh if you get two quarters in a row of contraction that is officially a recession at that point and uh this is this data uh this happened in February. And and so this is their uh projection. So that's the Federal Reserve projecting

that at the same time that they're going to cut out all of this fraud spending. Americans fall behind on car payments. It's up over 6%. Now in Do I have a laser here? Yes. Ah okay. So we have uh the um this is the first Gulf War and a recession that happened uh right after the first Gulf War. And then we go along and this is the global financial crisis. We're above the peak of the global financial crisis, the crash of 2008. Uh this is all the payroll protection uh schemes and checks getting sent directly

from the fee the uh treasury to consumers and they actually paid down. They became less late on their payments. But uh defaults like this signal that we're in a weak economic uh situation. These are people that uh plan to take a vacation and uh you know we've this is the global financial crisis. This is the lockdowns so nobody could really take a vacation. Uh but look at that sudden fall that happened right now. Um then we've got uh privatelyowned housing units under construction units in

buildings with five units or more. Now, I was talking with Derek and Robbie and they see, and this is very positive for apartment building owners, but if you're single family, right? I know nothing about real estate. You're at a a a conference with the experts, but I would probably take a look at what I'm doing if you're into single family. uh you probably don't want to have be overleveraged and you probably want to wait for another year or two. After the global financial crisis of 2008, stock

market uh crashed uh and it took two years for real estate to bottom and then you had two years to go shopping. Uh so there should be some phenomenal deals out there. I don't know that much about how real estate interacts with the rest of the economy and the best time to go shopping, but Dererick and Robbie are saying that it feels like it's 2013 again or tw you know 2012 and that was the bottom in real estate. Um this is the US trucking index and so suddenly goods and service goods being shipped

from here to there is collapsing. Uh this is uh you know if you bought European stocks in 2000 you've finally broken even after 25 years. Congratulations to everyone. We did it. This isn't inflation adjusted. They're actually like 20 25% down still and they're going at least I've broken even. Uh this is US households uh now have a bigger allocation to stocks than at any time in history. So the households are very invested in the stock market. So this is going to hurt the average investor, the people with uh

IRAs and so on. Whatever happens next is going to be very painful for the average person and the stock markets. And there is there's only um one way that I could find recently to measure the stock market that doesn't show it in the biggest bubble in history and that was PE ratios. uh but uh here we are. This is the uh sale the sales to the price of the stock. So the sales of the company compared to the price of the stock and it's at the most expensive in history and more of the public is invested than

at any time in history. I'm sorry if I'm talking fast, but I'm trying to get through a lot here. This is sort of scary. Uh this the um blue line is the Dow Jones Industrial Average in 2008 and the black line is today. Dow Jones. Uh talk about a echoes of the past. Uh fund managers are rotating out of US stocks at the fastest pace in history. And this is capital rotation. So, this is um when measured in uh gold, they're seeing if gold is outperforming every one of these. Oops, I'm sorry. Every one of

these uh sectors of Dan, my producer used to bet me you're going to make a mistake on that. You're going to go back a frame accidentally. energy, financials, healthc care, industrials, materials, real estate in the S&P, uh technology, all of them have flipped into uh two months ago, uh there were two of them that were not in the red yet. So if we close uh March which is the first quarter and all of them are still where gold is still outperforming all of them it confirms capital rotation where

currency is flowing out of speculative uh high gain investments and flowing toward a safe haven which causes precious metals to explode. So there's Jerome. Do you see any similarity? Swiss. This is our friend George Gammon. Swiss na Swiss National Bank takes rates down to 0.25. Why? The rest of the world is already going into a recession. We're next. And economies, you know, I did a study on this and it's in my book. They used to be all the people that uh the countries that the US ex imported from

um they would uh um we would have a recession and then 6 months to two years later the countries that we buy from would have a recession. And so I had a a time graph and these red boxes going down and the United States at the bottom and you could see this little delay. And then uh with every advancement in technology they became more and more aligned. And then with the global financial crisis and covid they are hypers synchronous. They all happen at the same time. So it doesn't really matter if there is a uh real estate

crash in China or if it's in Australia or somewhere in Europe. It gets transmitted around the globe through all these derivatives very very quickly. Uh so this is suddenly there are massive gold inflows happening right now in the United States. Uh you've heard probably that they've proposed auditing uh Fort Knox and so on. Have you heard that? Okay. So I think that this is actually the bullion banks trying to cover their butts there. The that the uh Federal Reserve who actually um has title they

they have a lean on all of that gold. It was used as collateral to borrow 11.2 billion at 44 and29th dollars. 29th dollars. That's a irrational number because it ends up at uh 2222 and it goes on like that forever. There is no end to it. Leave it to the government to pick something like that. But uh uh these massive gold inflows, it seems like the bullion banks are trying to return least gold so that there is actually gold there when they audit it. And the the noise about auditing has sort of dwindled lately uh because of

the I think because they're trying to put it off until they've actually got all the gold returned. Uh and this is silver. And what you see is that you know there was inflows and outflows inflows and outflows and then suddenly all of this accumulation this is uh published repositories. So the commodities exchange vaults plus mutual funds and ETFs. So all of the transparent uh gold and silver holdings. Uh this is commodities exchange deliveries where instead of settling for cash, if they've made a profit, instead

of settling for cash, they go, "Oh, no, no, I want my gold. I want my silver." And they're taking delivery of it and uh what you see here, sorry again. Uh you know, this is business as usual and then this is COVID and everybody thought the world was going to end and people started taking deliveries and it went down and look at where we are today. This is these are historic times. It's if you're protected, uh it's very entertaining to watch all of this. It's worrying. It's scary, but it's

nonetheless entertaining. Uh this guy that says my last delivery, this was $438 million worth of silver. This is though he took delivery like three months in a row. So this one person has taken almost half a billion dollars of delivery of silver in just the last three months. Uh this is something uh called a cup and cup and handle. I've been watching this bowl develop for years and I reported on on this and then it did a a double top here and then it started pulling back again and when it turned up I said this is making an

inverse head and shoulders. If you know anything about trading, that's one of the most reliable patterns. You can take that pattern uh flip it upside down and uh so normally you see a head and shoulders uh right side up. This is upside down and it I said that there's going to be a slingshot move coming and I was saying that way back here. Get ready. There's a slingshot move. So the people that were listening to me bought back here and then as soon as it was able to break this triple top

resistance, bam. Uh we got this huge move and it is making this measured move from the size of the cup and handle. Well um this is the cup and handle uh viewed from the entire bull market starting in 2001 to today. So that's the cup and handle and the slingshot move. But in silver, there's a cup and handle inside of a cup and handle. And the big cup and handle is 45 years long. It goes back to 1980. And this is, you know, this is charting is only right about 60% of the time and it's wrong 40% of the

time. Uh it but humans do make decisions in hurting patterns. And so when you see a pattern on the chart, there is uh a probability that it will be fulfilled whatever it's predicting. And so we have this giant cup and handle that is predicting tripledigit silver. So we're in the low30s right now. And there are people saying stuff that I've been saying for years. We are destined for triple digits, probably somewhere between$150 and $500 an ounce for silver. Uh, and so there you have uh the

national debt and what you will owe. And so that was the first part. Well, I ended up eight minutes early. How about hand for Mick Maloney, ladies and gentlemen? [Applause]