[SPEAKER_01]: Make no friends in the pits and you take no prisoners.
[SPEAKER_01]: One minute, you're up out the minute and soybeans in the next pool.
[SPEAKER_01]: Your kids don't go to college and they've registered mentally with me.
[SPEAKER_00]: The revolutions start now, staunch.
[SPEAKER_01]: We have to pass the bills so that you can find out what is in it.
[SPEAKER_01]: Cardinals machine back off!
[SPEAKER_00]: You are about to enter the Peter ship show.
[SPEAKER_00]: If we lose freedom here, there's no place to escape to.
[SPEAKER_00]: This is the last stand on Earth.
[SPEAKER_00]: The Peter ship shall be solved.
[SPEAKER_00]: I don't know, when they decided that they wanted to make a virtue out of selfishness.
[SPEAKER_00]: You're money.
[SPEAKER_00]: You're storing this.
[SPEAKER_00]: You're freedom.
[SPEAKER_00]: The Peter ship shall.
[SPEAKER_01]: Well, happy Hanukkah, everybody.
[SPEAKER_01]: I think we're what, fourth or fifth night.
[SPEAKER_01]: I kind of lose track with all those candles.
[SPEAKER_01]: But we are kind of in vacation mode, almost I'm leaving tomorrow, flying back up to Connecticut.
[SPEAKER_01]: I'll be up there for the rest of Hanukkah and the Christmas New Year's holidays.
[SPEAKER_01]: So I wanted to get this podcast in before I leave.
[SPEAKER_01]: And by the way, I'm not going to be doing any more of the shift gold Friday market wraps until I get back from vacation, which will probably be around mid-January.
[SPEAKER_01]: My kids have to be back in school on the 11th, so I think we'll be back on the 10th.
[SPEAKER_01]: Um, and so between now and then, I'm not going to be doing any of those.
[SPEAKER_01]: If you've been watching, uh, those Friday market wraps, uh, I'm going to be doing them.
[SPEAKER_01]: I'm just going to resume after the winter break, but I'm going to be doing some of these podcasts.
[SPEAKER_01]: I don't know how often I'll do them, uh, but I'm going to do something.
[SPEAKER_01]: If something big happens, believe me, if there's a big move, if there's something that's important.
[SPEAKER_01]: I will try to do something while I'm away, either a podcast or also a space is on X.
[SPEAKER_01]: So if you're not following me on X, you know, make sure you do that in case I do an impromptu space to talk about a big event that happens over the holidays.
[SPEAKER_01]: I am expecting that we could have some big moves on Christmas Eve, New Year's Eve,
[SPEAKER_01]: uh... in thin volume uh... that i might want to talk about so make sure you know you're following me oh and before i forget you know you know i always do this at the end people say you got to do it the beginning uh... subscribe to this youtube channel like it comment
[SPEAKER_01]: because apparently not everybody stays on for the entire thing and I'm going to tell you right now those of you who only watch the beginning of these YouTube's or listen to the beginning if you don't stick around to the end you're missing out because sometimes I actually saved the best stuff for last.
[SPEAKER_01]: And so if you don't have a long enough attention span, you're missing out.
[SPEAKER_01]: But you know, so subscribe to the video.
[SPEAKER_01]: In fact, go over to the channel.
[SPEAKER_01]: And you go over the shift goal and subscribe to that channel.
[SPEAKER_01]: So that when I am back in Puerto Rico doing those regular weekly market wraps, you'll know about them.
[SPEAKER_01]: But you know, the big story, I think this week is silver.
[SPEAKER_01]: And we'll see what happens tomorrow.
[SPEAKER_01]: Tomorrow could be another big day.
[SPEAKER_01]: I think we've got an option expiration coming up.
[SPEAKER_01]: But silver prices hit $66.
[SPEAKER_01]: And I think $77 almost $68.
[SPEAKER_01]: I mean, we closed last week.
[SPEAKER_01]: I think it was $62.
[SPEAKER_01]: Now, we're off the highs.
[SPEAKER_01]: But as I am recording this, Thursday evening here in Puerto Rico,
[SPEAKER_01]: but silver is above sixty five dollars in fifty cents I mean we just broke through fifty now if you recall from what I was saying on my podcasts I I said that I expected silver to take out fifty because that was the big double top and that once it did I thought we would have a
[SPEAKER_01]: I didn't think we would hit a hundred this year, but I thought we would hit it next year, and we're on track.
[SPEAKER_01]: In fact, it's actually moving up even faster than I thought.
[SPEAKER_01]: Now, I'm not surprised that this is happening.
[SPEAKER_01]: what's actually surprising to me is that it took so long for this to happen.
[SPEAKER_01]: I mean, how long was silver at 30 bucks when gold was 3,000?
[SPEAKER_01]: And higher, in fact, at one point, it was not only a hundred to one, it was like 108 ounces of silver.
[SPEAKER_01]: for an ounce of gold.
[SPEAKER_01]: It was extremely absurd.
[SPEAKER_01]: Now it's back around 65 or something like that.
[SPEAKER_01]: It's still cheap.
[SPEAKER_01]: It's just not as ridiculously cheap as it was.
[SPEAKER_01]: But what's really been happening is silver is just catching up to gold.
[SPEAKER_01]: Right?
[SPEAKER_01]: It's taking a long time, but now it's making up that law scroun quickly because gold hasn't really gone anywhere as silver has been rising, but it hasn't gone down.
[SPEAKER_01]: Gold is around 4,330 50.
[SPEAKER_01]: The key is.
[SPEAKER_01]: It's holding, it's not going down.
[SPEAKER_01]: I think what is happening to is people that were long-gold and short silver, because that's obviously been a popular trade.
[SPEAKER_01]: That trade is being unwound.
[SPEAKER_01]: And so that means that you have to sell your gold and buy back the silver that you short it.
[SPEAKER_01]: So that's probably keeping a lid on gold, but gold's not going down, because there is still substantial buying of gold.
[SPEAKER_01]: beneath the market.
[SPEAKER_01]: So we have very strong support now, above 4,000 for gold.
[SPEAKER_01]: And we're not going to get anywhere near 50 on silver again.
[SPEAKER_01]: I doubt it.
[SPEAKER_01]: I mean, it's, is it possible that we can go back down and retest 50 again?
[SPEAKER_01]: I guess so.
[SPEAKER_01]: But I think the odds are that we're not going to get down there.
[SPEAKER_01]: Well, it's also been a bit surprising, but again, nothing surprises me is that the mining stocks have gone nowhere this week.
[SPEAKER_01]: They've been steady, even the silver stocks, even with this explosive move in silver.
[SPEAKER_01]: The silver stocks are not making new highs yet.
[SPEAKER_01]: Uh, and maybe, uh, you know, people are thinking that this is a fluke, right?
[SPEAKER_01]: That, oh, well, you know, this is just some kind of speculative blow-off.
[SPEAKER_01]: And so they're not paying up for these silver stocks.
[SPEAKER_01]: Well, they're going to because this is not a speculative blow-off.
[SPEAKER_01]: This is a long overdue catch-up.
[SPEAKER_01]: In fact, one of the places where there is in a bubble, I mean, there's so many bubbles that have been inflated by the Fed and it's, you know, loose monetary policy.
[SPEAKER_01]: The one thing that's not in a bubble is gold and silver.
[SPEAKER_01]: It's not even close.
[SPEAKER_01]: It doesn't even have any of the characteristics that would qualify it as a bubble.
[SPEAKER_01]: kind of watching in disbelief as silver prices have surged, I think you're going to see a delayed reaction in those mining stocks.
[SPEAKER_01]: And I think they're going to sort a new highs before the end of the year.
[SPEAKER_01]: So I would encourage people.
[SPEAKER_01]: Tomorrow, tomorrow morning, I would be buying more of these stocks or if you don't own them, buy them, or get into my gold fund, the Europe Pacific gold fund, E.P.G.I.X.
[SPEAKER_01]: Of course, if you buy that tomorrow, you get filled with the clothes, right?
[SPEAKER_01]: But that's still gonna be okay, because I think the big moves, again, are gonna happen next week.
[SPEAKER_01]: Just like, you know, it started just like I said last week on Sunday night, silver gaped up to three dollars.
[SPEAKER_01]: on Monday had a big move, but you had all weekend to buy it and again, you got to go to shift gold and buy some gold and silver.
[SPEAKER_01]: tomorrow this weekend just don't wait till Sunday night because that's when Asia wakes up and they start buying you want to buy before they do that right and I think with the thin holiday trading next week we can see even bigger moves we can see a bigger short squeeze.
[SPEAKER_01]: There's still shorts out there in silver holding and hoping that the market comes down
[SPEAKER_01]: That is, in scarce supply, you know, Trump declared in a strategic metal silver, right?
[SPEAKER_01]: I mean, there's a lot of real industrial use big buyers need silver.
[SPEAKER_01]: And there's just not a lot of silver there that is the problem now.
[SPEAKER_01]: It's not a problem for me.
[SPEAKER_01]: I own a bunch of silver.
[SPEAKER_01]: I don't a bunch of silver mining companies, right?
[SPEAKER_01]: So to my clients now, but it's a problem for the people who have short they shorted silver that they don't have and good luck trying to get a hold of it.
[SPEAKER_01]: So I would be loaded up on silver.
[SPEAKER_01]: uh, over the weekend, Friday, you know, at shift goal for physical delivery.
[SPEAKER_01]: And if you don't want to take delivery, you go to tgold.com and you can buy silver, you know, close the spot and we stored for you.
[SPEAKER_01]: Eventually, we'll tokenize it if you want to withdraw it in the form of a token.
[SPEAKER_01]: But for now, you just need to get a get a hold of it.
[SPEAKER_01]: You've got to own it.
[SPEAKER_01]: And we're working on the app, too.
[SPEAKER_01]: Right now, you have to go on a desktop.
[SPEAKER_01]: You got to go to the, or I guess you can access it through a phone, but you got to go to the website.
[SPEAKER_01]: But we're building now, and it should be up in January, a new app, one for shift, gold, and also one for T-goal to make it easier.
[SPEAKER_01]: to buy a T-Gold and sell T-Gold, but ultimately I want to have people be able to transfer their gold using their phone to other people who have accounts at T-Gold, so the gold can go back and forth.
[SPEAKER_01]: This silver can go back and forth, so it can be used as a meaning of exchange, which is how gold and silver should be used.
[SPEAKER_01]: They are money.
[SPEAKER_01]: And this platform is going to make it a lot easier to use golden silver and not just as a store value, but as a meaning of exchange.
[SPEAKER_01]: As as money, and ultimately, we'll have the debit cards, the credit cards, the tokens, all this stuff is going to be built on top of this.
[SPEAKER_01]: But, you know, the first stage is to get everybody on board and get the golden silver purchased before the prices
[SPEAKER_01]: at shift gold and and and T gold.
[SPEAKER_01]: Now, we got some news.
[SPEAKER_01]: They came out this week.
[SPEAKER_01]: You know, we actually got a jobs report and an inflation report that we got.
[SPEAKER_01]: The jobs report, I think came out yesterday, right?
[SPEAKER_01]: So everything is kind of coming out at the wrong time, you know, because of the government shut down.
[SPEAKER_01]: But we got the November non-farm
[SPEAKER_01]: Now, I take these numbers with a very, very small grain of salt, but we got 64,000 jobs created.
[SPEAKER_01]: That's not a lot of jobs.
[SPEAKER_01]: And the forecast was 40,000.
[SPEAKER_01]: That's also a pretty low forecast.
[SPEAKER_01]: So I guess people focused on the fact that we had a really low bar and we cleared it.
[SPEAKER_01]: But I doubt we cleared it.
[SPEAKER_01]: By the time they revise this number, I expect it to be negative.
[SPEAKER_01]: Now, where we did get bad news officially was on the unemployment rate, which ticked up to 4.6%, which is like a four year high.
[SPEAKER_01]: So this is the highest the unemployment rate has been since Trump's been president.
[SPEAKER_01]: And of course,
[SPEAKER_01]: This doesn't capture all of the people who are unemployed.
[SPEAKER_01]: In fact, when Trump ran for president the first time, he was honest about how dishonest these numbers were.
[SPEAKER_01]: He said the unemployment rate was fake.
[SPEAKER_01]: When it was, you know, five percentish under Biden, he said it was really 20%.
[SPEAKER_01]: Well, the same applies now, right, Donald Trump said all the numbers were fake until he was elected and then they were real.
[SPEAKER_01]: Then he touted the numbers that he claimed were fake when Biden was president to show how great the economy was when he was president.
[SPEAKER_01]: Well, I mean, the numbers are either fake or their real.
[SPEAKER_01]: They're not fake under Biden and real under Trump, but according to Trump,
[SPEAKER_01]: They were, right.
[SPEAKER_01]: That's how that's how he rolls.
[SPEAKER_01]: And I'm going to talk a little bit more about the the talk that Trump gave last night of to fantasy Description of the US economy After I get finished going over these numbers, but so the unemployment rate is 4.6 officially unofficially, it's a lot higher than that, but the direction is also important.
[SPEAKER_01]: Unemployment is rising.
[SPEAKER_01]: It is not falling
[SPEAKER_01]: and manufacturing, even there, the payrolls dropped another five thousand, after dropping six thousand in October.
[SPEAKER_01]: So the president is claiming that all of this investment is coming, all of this reshoring, all of these factories and production, it's all coming back, right, because of his wonderful terrorists that are making us rich.
[SPEAKER_01]: Yet manufacturing continues to contract.
[SPEAKER_01]: People continue to lose jobs in manufacturing.
[SPEAKER_01]: So none of this is happening.
[SPEAKER_01]: This is all fantasy.
[SPEAKER_01]: All the tariffs are doing is making the stuff that we import more expensive.
[SPEAKER_01]: And they're also allowing companies that produce some of the stuff that might compete with the imports to raise their prices too.
[SPEAKER_01]: So that's all Trump is accomplishing with the tariffs.
[SPEAKER_01]: is higher taxes and higher prices.
[SPEAKER_01]: That's it.
[SPEAKER_01]: We're not getting rich.
[SPEAKER_01]: We're not revitalizing our manufacturing.
[SPEAKER_01]: Nothing.
[SPEAKER_01]: And the numbers, you know, as, you know, rigged as they are, I guess bear that out.
[SPEAKER_01]: So we had a week, a week jobs number.
[SPEAKER_01]: Private payrolls up 69,000, you know,
[SPEAKER_01]: You know, not a lot of government.
[SPEAKER_01]: I mean, at least, that's one good thing.
[SPEAKER_01]: Maybe the government lost some workers, which is a positive, but it's still a slow down from the prior month.
[SPEAKER_01]: And again, I don't even believe these numbers.
[SPEAKER_01]: Nobody should believe these numbers, they're going to get revised again and again.
[SPEAKER_01]: And we know the direction that the revisions are going to come in, and that's down.
[SPEAKER_01]: And in fact, even the Fed, Powell admitted at his last press conference that the numbers are exaggerated and that they're probably always maybe 60,000 less than what the government claims.
[SPEAKER_01]: And if that's the case, they claim 64,000.
[SPEAKER_01]: So that's pretty much a push, meaning no jobs.
[SPEAKER_01]: But again, I still think it's going to end up being job losses.
[SPEAKER_01]: Now today we got to CPI numbers and a lot of people want to celebrate these CPI numbers because they were lower than expected.
[SPEAKER_01]: So prices rose by 0.2 for the month and that was better than the 0.3 that was expected.
[SPEAKER_01]: Right, he's still around two and a half percent inflation.
[SPEAKER_01]: You're still above the Fed's target because 2% per month, you know, adds up year over year, we're at 2.7.
[SPEAKER_01]: CPI.
[SPEAKER_01]: Now the consensus was 3.1.
[SPEAKER_01]: So the number came out below consensus, but it's still substantially higher than 2.
[SPEAKER_01]: And I think that, you know, we're going to go back the other way.
[SPEAKER_01]: I think the next, the next report is probably going to be a higher number.
[SPEAKER_01]: But still, well above 2% annualized.
[SPEAKER_01]: And year over year, Core CPI came out of plus 2.6.
[SPEAKER_01]: Now, better than the 0.3% or the 3% expected, but it's still higher than what you would want when the Fed was cutting rates.
[SPEAKER_01]: But remember, right?
[SPEAKER_01]: The Fed, and I talked about this on my last podcast, the Fed cut rates again and returned to quantitative easing.
[SPEAKER_01]: Now, of course.
[SPEAKER_01]: The Fed and everybody has been doing damage control, trying to reassure everybody that what they're doing is not QE, right?
[SPEAKER_01]: Now, of course, why don't they want to admit that because that's admitting that there's a big problem because we did QE in the financial crisis and during COVID, right?
[SPEAKER_01]: When we had a great recession, and we had this pandemic and a shutdown of the economy, those are the times we did QE.
[SPEAKER_01]: And so if we're doing QE again, well, that must indicate that there's a real big problem.
[SPEAKER_01]: Otherwise, we wouldn't be doing this emergency measure.
[SPEAKER_01]: So the Fed has to make sure that people don't realize that QE is in fact QE.
[SPEAKER_01]: So they say, no, no, no, we're just managing our reserves or whatever, whatever.
[SPEAKER_01]: I don't care how they want to dress up this pig, right?
[SPEAKER_01]: They can put all the lipstick on if they want.
[SPEAKER_01]: It's still QE by any other name or whatever.
[SPEAKER_01]: They haven't even come up with a name for it.
[SPEAKER_01]: But they are monetizing debt.
[SPEAKER_01]: They're printing money and buying treasures, right?
[SPEAKER_01]: Just because they're buying tea bills and not tea notes or tea bonds, still quee, they're doing it to artificially suppress interest rates and they're doing it because they have to.
[SPEAKER_01]: They're not doing it because they want to.
[SPEAKER_01]: In fact, the only reason they stopped quantitative tightening is so they can start quantitative easing.
[SPEAKER_01]: That's exactly what I said.
[SPEAKER_01]: Right.
[SPEAKER_01]: The minute they announced that they were going to end QT, I said, well, that's just the first step that actually, you know, they're going to crank up QE, which they did almost immediately, but they deny it.
[SPEAKER_01]: Now, the question is, how much longer will they be able to deny it?
[SPEAKER_01]: Because what the Fed is going to be doing going forward is ramping it up.
[SPEAKER_01]: So they're going to start buying more
[SPEAKER_01]: And they're going to start lengthening the maturedies.
[SPEAKER_01]: They're going to start going out the yield curve.
[SPEAKER_01]: And eventually they're going to be down at the long end, right?
[SPEAKER_01]: There's no doubt in my mind that that is what's going to happen.
[SPEAKER_01]: And one of the reasons is because yields are going to spike.
[SPEAKER_01]: at the long end.
[SPEAKER_01]: And they're going to want to do something.
[SPEAKER_01]: I mean, right now, we're hanging out around, you know, the four, 15 area above four, right?
[SPEAKER_01]: The Fed is really cut rates now.
[SPEAKER_01]: What's six, six times three and three, like, you know, three sets of cuts.
[SPEAKER_01]: But the the yield on the long bond has not gone down at all.
[SPEAKER_01]: Ah, fact has gone up.
[SPEAKER_01]: And I think we're getting ready for another spike, especially if we could take out 2% on the 10 year JGB.
[SPEAKER_01]: As I'm speaking right now, the 10 year Japanese government bond yield is 1.96.
[SPEAKER_01]: We're almost there.
[SPEAKER_01]: Remember, I started talking about 2%.
[SPEAKER_01]: When the yields were still under half a percent, because the bank at Japan was kind of drawing a line in the sand, like we're not gonna let the yield go above a half a percent.
[SPEAKER_01]: And I was like, you know, it's not gonna work.
[SPEAKER_01]: You know, it's like, King Kenook, you know, trying to stop the tide, right?
[SPEAKER_01]: Doesn't matter, you can yell at the tide all you want.
[SPEAKER_01]: It's gonna come in, right?
[SPEAKER_01]: And there was a huge flood coming in the Japanese bond market.
[SPEAKER_01]: And we're almost a 2% and I kind of identify 2% as where I thought things would really start to unravel.
[SPEAKER_01]: Meaning that once the yields get above 2%, they're going to start moving up 2.1, 2.2, 2.5, right?
[SPEAKER_01]: This is going to be a problem in Japan, but it's also going to be a problem here, and it's going to put pressure on our yields.
[SPEAKER_01]: And maybe on a lot of other assets too, not just treasuries, but tech stocks and stuff like that crypto.
[SPEAKER_01]: And and so the Fed is going to do more QE.
[SPEAKER_01]: And that's why I'm expecting an even bigger rally in golden silver next year.
[SPEAKER_01]: I mean, it's hard to imagine it's going to be bigger than this year, but it might be.
[SPEAKER_01]: But I think we're going to continue it and what's going to really fuel it is going to be the weakness of the dollar.
[SPEAKER_01]: The dollar kind of stopped falling.
[SPEAKER_01]: We had that initial decline after liberation day and that it's kind of been steady dollar index around 98.
[SPEAKER_01]: But it's going to tank now that the Fed is basically shown its cards.
[SPEAKER_01]: And the markets are going to react to that.
[SPEAKER_01]: And you're going to see a weakness of the dollar, especially as this not QE ramps up and more and more people recognize it.
[SPEAKER_01]: Anyway, the other thing that's going to be driving the dollar lower and gold higher is the new Fed Chairman.
[SPEAKER_01]: Yet to be announced, I think Trump has said he's supposed
[SPEAKER_01]: But Trump talked about his pick last night and what Trump said was that he is going to appoint a fed chairman who wants lower interest rates.
[SPEAKER_01]: Now, that's just scare the hell out of anybody that has US dollars, right?
[SPEAKER_01]: He didn't say, I'm going to appoint the best man for the job or gal for the job, best person.
[SPEAKER_01]: I'm going to appoint somebody who's determined to maintain the purchasing power of the dollar, maintain price stability, be a good steward of the dollar and it's
[SPEAKER_01]: be above the political fray, be independent, no, no, he didn't say that.
[SPEAKER_01]: He said, I am going to put somebody in charge of the Fed who is going to lower interest rates, whether the economy calls for lower interest rates or not is basically what he's saying.
[SPEAKER_01]: I am sending somebody to the Fed with a directive to cut interest rates, right?
[SPEAKER_01]: That's it.
[SPEAKER_01]: And if you're not going to give me your
[SPEAKER_01]: that you're going to cut rates and if I don't trust that you're going to do it because obviously you know you can change your mind right once you get the job you're there right the guy president can't fire you meet he's trying so he wants to make sure he's got a real Trump supporter
[SPEAKER_01]: that won't stab him in the back, right?
[SPEAKER_01]: By doing what's right for the country, that it's gonna be loyal to Trump above all else, right?
[SPEAKER_01]: That is the one criteria that Trump has.
[SPEAKER_01]: You will do exactly what I ask you to do, right?
[SPEAKER_01]: And if you say yes, you got the job, right?
[SPEAKER_01]: I think that's who he's gonna put in charge.
[SPEAKER_01]: The one key things is most likely not to, you know, disappoint him, not to knife him in the back
[SPEAKER_01]: And say, you know what, sorry, Mr. President, you know, now that you appointed me, I take this job too seriously.
[SPEAKER_01]: I got to do what I got to do.
[SPEAKER_01]: And, you know, we can't cut rates.
[SPEAKER_01]: You know, that's not the guy.
[SPEAKER_01]: Trump does not want that kind of guy.
[SPEAKER_01]: He wants a yes man.
[SPEAKER_01]: He wants a team player.
[SPEAKER_01]: And he's making that pretty obvious, right?
[SPEAKER_01]: That the Fed chairman is going to be the puppet and he's going to be the puppeteer.
[SPEAKER_01]: And it's not just going to be
[SPEAKER_01]: rate cuts, it's going to be QE.
[SPEAKER_01]: All Trump wants to do is blow air into this bubble.
[SPEAKER_01]: That is his only goal to prevent everything from collapsing while he's still there, right?
[SPEAKER_01]: Just like a lot of bad things that happened.
[SPEAKER_01]: under Biden started under Trump, like all the inflation that he wants to blame on Biden.
[SPEAKER_01]: He's responsible for most of that because he did the policies in 2020 under COVID.
[SPEAKER_01]: The massive increase in deficit spending and all the money printing Biden just happened to be there when the consequences of all the inflation showed up in prices had Trump been reelected.
[SPEAKER_01]: same thing right but he conveniently can say hey there was no inflation when I was president of course there was money supply exploded it's just showed up uh uh on drop and in fact you know I meant I made this point on Tucker Carlson I did to Tucker Carlson interview by the way uh did that uh when uh Tuesday they haven't they haven't put it up yet
[SPEAKER_01]: But I made the point that the CPI really started to increase in the last four or five months of the Trump administration, maybe three or four, and into the first few months of Biden before Biden had a chance to do anything before any of his policies took effect.
[SPEAKER_01]: And it's not a coincidence that the highest year of inflation under Biden was the first year because that was caused during Trump.
[SPEAKER_01]: You can't hold Biden responsible for the 2021 inflation.
[SPEAKER_01]: Now, 2022, 2023, okay, right?
[SPEAKER_01]: But Trump also bears some responsibility for that.
[SPEAKER_01]: But inflation under Trump in his last year is probably going to be the worst year.
[SPEAKER_01]: It's going to be up from here.
[SPEAKER_01]: It's all uphill, I think, when it comes to inflation.
[SPEAKER_01]: And by the way, I was very happy to reconnect with Tucker.
[SPEAKER_01]: I kind of lost touch with them after he less Fox news.
[SPEAKER_01]: And now we're kind of back in touch.
[SPEAKER_01]: And it was a good discussion that we had for a couple of hours.
[SPEAKER_01]: I was it as critical as I think I should have been of the current fiscal and monetary policy and I really didn't warn like I think I should have and I normally do about the impending dollar crisis and sovereign debt crisis and how important it is for people to prepare and and how all this nonsense they're being told about the strong economy is all BS.
[SPEAKER_01]: I mean I didn't get into that as much as I spoke more, we spoke a lot about gold.
[SPEAKER_01]: I did get to tell my story about the bank at the end.
[SPEAKER_01]: We probably spent too much time on that, but you know, I wanted to get that story out there.
[SPEAKER_01]: I want people to know what happened to the bank and my customers, so that they appreciate the unbridled corruption in the US government, how they act above the law, and how they just trample on our individual rights, and how the media covers it up.
[SPEAKER_01]: So we cover that at the end.
[SPEAKER_01]: uh... but we talked more a lot about a lot of uh... you know macroeconomic stuff which is good and entertaining and people will learn uh... but you know i hopefully i can go on the show again and and and approach it from that angle uh... i hope it may be over the summer or something i can go up to uh... uh... the house in main and do and do and interview uh... from up there but anyway get back getting back to what i was uh... uh... discussing
[SPEAKER_01]: Trump, when he gave his talk right last last night, he repeated.
[SPEAKER_01]: what he posted on truth social about me, right?
[SPEAKER_01]: He accused me of being wrong and being a hater and being a loser and being a jerk.
[SPEAKER_01]: Because I claim that prices were rising when in fact, they are rising.
[SPEAKER_01]: In fact, the CPI numbers that we got today confirm that prices are in fact going up.
[SPEAKER_01]: Trump still insists that they're going down.
[SPEAKER_01]: And not only does he say they're going down, they're going substantially down.
[SPEAKER_01]: Not just a little down.
[SPEAKER_01]: They're a lot down, right?
[SPEAKER_01]: And he went on to talk about that last night saying that prices have come way down.
[SPEAKER_01]: and that they're continuing to come down.
[SPEAKER_01]: And he focused on Thanksgiving, turkey, eggs, gassed, you know, a couple of things where, yeah, I'm sure that some things the prices went down.
[SPEAKER_01]: But for other things, the prices have gone way up.
[SPEAKER_01]: But in aggregate, in total, right?
[SPEAKER_01]: If you look at all the prices, they've gone up, in total, right?
[SPEAKER_01]: Trump is kind of a claiming that the opposite
[SPEAKER_01]: is happening.
[SPEAKER_01]: But, you know, he told a lot of, you know, basically fantasy, when he talked about, you know, he inherited this big mess, right?
[SPEAKER_01]: And he's cleaned up the mess.
[SPEAKER_01]: He didn't just inherit a mess.
[SPEAKER_01]: He helped make the mess, right?
[SPEAKER_01]: Yes.
[SPEAKER_01]: Biden made it even messier than the
[SPEAKER_01]: But he is responsible as our presidents that preceded him, right?
[SPEAKER_01]: We've been passing this baton from president to president as we continue to compound the mistakes of running up bigger deficits and having the Fed monetize it and keep interest rates artificially low.
[SPEAKER_01]: But that's exactly what Trump wants to continue.
[SPEAKER_01]: He wants to continue kicking this can down the road and hoping that the bubble doesn't pop until the next president.
[SPEAKER_01]: So he can say it's not my fault.
[SPEAKER_01]: We had the greatest of coming to history of the world.
[SPEAKER_01]: And now we elected somebody else and they ruined it.
[SPEAKER_01]: You know, we went from the worst of coming to history of the world.
[SPEAKER_01]: in a few short months to the greatest economy in the history of the world.
[SPEAKER_01]: And in fact, you know, Trump said that everybody tells him how great the economy is.
[SPEAKER_01]: All the world leaders tell him like how America is doing the greatest.
[SPEAKER_01]: We got the hottest economy in the world.
[SPEAKER_01]: Now I don't know if they're actually telling him this.
[SPEAKER_01]: or he just thinks they're telling them this, you know, maybe it was in a dream or something, but it's also possible that people know how to suck up to Trump, right?
[SPEAKER_01]: You just kiss his ass.
[SPEAKER_01]: You tell him how great he is.
[SPEAKER_01]: And you know, you can probably get what you want.
[SPEAKER_01]: So they know how to play him.
[SPEAKER_01]: But there's no way, if we had the hottest economy, the Fed would not be cutting rates, right?
[SPEAKER_01]: The Fed would be paying attention to higher than target inflation.
[SPEAKER_01]: See, the reason the Fed,
[SPEAKER_01]: is looking past the higher inflation that they're uncomfortable with is because they're worried about the economy.
[SPEAKER_01]: They're worried about the labor market.
[SPEAKER_01]: They're worried about a lot of things.
[SPEAKER_01]: Well, if we have the strongest economy in the world and in the history of America, what the hell are they worried about?
[SPEAKER_01]: Why do they have to cut rates?
[SPEAKER_01]: Why can't they raise rates?
[SPEAKER_01]: In this super strong economy, why can't they raise rates so we can bring inflation down?
[SPEAKER_01]: Right?
[SPEAKER_01]: No, no.
[SPEAKER_01]: We have to risk inflation going up because the economy is so vulnerable.
[SPEAKER_01]: It's so weak that if we don't cut rates and go to QE, the whole thing is going to explode.
[SPEAKER_01]: Right?
[SPEAKER_01]: That is the truth.
[SPEAKER_01]: Right?
[SPEAKER_01]: Not this fantasy that Donald Trump is promoting of this, you know, golden age in America.
[SPEAKER_01]: The only thing golden about the golden age is gold.
[SPEAKER_01]: or silver right those prices are going up because the markets understand that a currency crisis and a sovereign debt crisis is coming.
[SPEAKER_01]: He not only aren't things fantastic the way Trump explains, but we're ahead of for a crisis that's much worse than 2008 because in 2008 the government was able to bail everybody out.
[SPEAKER_01]: That was a mistake, but it's soft in the blow.
[SPEAKER_01]: at the expense of making it worse later.
[SPEAKER_01]: Now, I am surprised that we've been able to delay the consequences for as many years as we've had, but because we've succeeded in doing that, we've also exacerbated the consequences, right?
[SPEAKER_01]: Because there's a lot more that needs to be unwound.
[SPEAKER_01]: It's a much bigger bubble.
[SPEAKER_01]: We've made far more mistakes.
[SPEAKER_01]: We've taken on a lot more debt.
[SPEAKER_01]: then we have.
[SPEAKER_01]: So this is going to be much worse.
[SPEAKER_01]: You know, Donald Trump claimed, you know, I got $17 trillion of investment in the US.
[SPEAKER_01]: That's like two thirds of our GDP.
[SPEAKER_01]: I mean, that that's not even close to a true statement.
[SPEAKER_01]: I mean, but we're getting, we're getting crazy from both sides, right?
[SPEAKER_01]: There was, I posted on, on X today, Bernie Sanders came out, right?
[SPEAKER_01]: And he was, he was all upset, you know, we got to stop AI, we got to stop the robots, right, because they're taking our jobs.
[SPEAKER_01]: And you know, it's like, yeah, that's the whole idea behind progress.
[SPEAKER_01]: So we can eliminate work, right?
[SPEAKER_01]: We don't, we don't work because we enjoy it.
[SPEAKER_01]: We work because we want the goods and services that are produced by that work.
[SPEAKER_01]: And if we don't produce them ourselves, we work so that we can afford to buy what other people produce.
[SPEAKER_01]: But if robots and AI can bring down cost, then we don't have to work so hard to buy the stuff we need.
[SPEAKER_01]: Like Sanders just looks at everything from the perspective of the worker and he forgets that all workers are also consumers.
[SPEAKER_01]: And if I can consume more and work less, that's a win, right?
[SPEAKER_01]: If the goal is to work more, I mean, if I can consume more and work less, if I said it, that's a win.
[SPEAKER_01]: If your goal is to work more and consume less, well, that's easy to accomplish, right?
[SPEAKER_01]: Just any socialist government accomplishes that.
[SPEAKER_01]: But if you're of the opinion that labor-saving devices are bad,
[SPEAKER_01]: because they destroy jobs and we'll let's you know why stop at robots and AI get rid of all the tools everything we've invented since the Stone Age and then we'll have nothing to do but work we'll work every day from sunrise to sunset
[SPEAKER_01]: seven days a week, no weekends, no holidays, no we'll be doing forging, right?
[SPEAKER_01]: Total water around, building huts at a grass, trying to kill animals with a spear that we crafted by ourselves, by hand, uh, and then trying to make
[SPEAKER_01]: clothing out of the pelts.
[SPEAKER_01]: Right.
[SPEAKER_01]: I mean, if all you want is work, that's easy to create.
[SPEAKER_01]: Just destroy all the tools.
[SPEAKER_01]: Everything that makes our lives better just get rid of it.
[SPEAKER_01]: Right.
[SPEAKER_01]: But the problem with Bernie Sanders is he said that he said, guess who's behind this AI?
[SPEAKER_01]: Guess who's making all these investments in AI?
[SPEAKER_01]: It's the billionaires.
[SPEAKER_01]: It's the rich people.
[SPEAKER_01]: Well, who else can afford to make the investments?
[SPEAKER_01]: You think the poor people are going to make the
[SPEAKER_01]: Bernie Sanders is that people are going to get rich, making our lives better.
[SPEAKER_01]: I don't mind if somebody gets rich, improving my life, great.
[SPEAKER_01]: I'd rather have lots of rich people because they made my life better.
[SPEAKER_01]: But Bernie Sanders would rather have no rich people, as long as we're all poor.
[SPEAKER_01]: If everybody is equally poor, Sanders is happy with that.
[SPEAKER_01]: Although, I don't think he wants to be poor himself.
[SPEAKER_01]: But if all the rest of us are poor, that's okay with Sanders.
[SPEAKER_01]: Just so long that nobody makes a buck, right?
[SPEAKER_01]: Nobody can get rich solving a problem, curing a disease, right?
[SPEAKER_01]: No, no, no, no, right.
[SPEAKER_01]: Let's all, let's just stay sick.
[SPEAKER_01]: We don't, I want the guy who cares cancer to get really, really rich.
[SPEAKER_01]: I hope somebody gets stinkin' rich, curin' cancer, right?
[SPEAKER_01]: don't you want that because that's why somebody's going to cure cancer because they know if I can cure cancer I can get rich think of all the money I can make if I have cancer cure yeah I want people thinking like that right I want people motivated to cure a disease that might kill me right if you say well you know you shouldn't make any money cure and cancer you shouldn't profit from other people's diseases okay that no one's going to cure cancer and we can keep dying of it right these guys just don't
[SPEAKER_01]: Oh, also about Trump.
[SPEAKER_01]: I actually got called by a Wall Street Journal reporter.
[SPEAKER_01]: I guess I'm going to get quoted.
[SPEAKER_01]: I'm really getting on the president's bad side.
[SPEAKER_01]: Now, he's already blown up by me once.
[SPEAKER_01]: You know, wait, I'll read this Wall Street Journal because I don't know what they're going to quote me on.
[SPEAKER_01]: But Trump media, Donald Trump media, was up 40% today.
[SPEAKER_01]: The stock was on a 52 leak low.
[SPEAKER_01]: Like the stock had been getting killed because it doesn't have a viable business.
[SPEAKER_01]: You know, first it was, you know, truth social, but that's not making any money.
[SPEAKER_01]: I mean, it's an echo chamber for Trump to go out and post his, you know, what is ravings to his loyal fans, but it doesn't make any money.
[SPEAKER_01]: And so then they pivoted to a Bitcoin treasury company.
[SPEAKER_01]: And of course that's not working out because all the Bitcoin treasury companies are getting killed because Bitcoin is getting killed and it's got I'm going to talk about that because it's going to get decimated very soon.
[SPEAKER_01]: So it pivoted to that and now it's just announced a merger with a fusion energy company.
[SPEAKER_01]: Now of course nuclear fusion, we don't know if we can do that yet.
[SPEAKER_01]: I mean, it's a it's a it's a goal that they're working on, I guess, but what the hell
[SPEAKER_01]: with a social media company that's losing money or a Bitcoin treasury company that's losing money.
[SPEAKER_01]: I mean, what is this energy company have to gain by this merger that on paper has now made billions for Trump based on the appreciation, right?
[SPEAKER_01]: Clearly, the only value that Donald Trump
[SPEAKER_01]: Right?
[SPEAKER_01]: Is that the name of a DJT, a Trump media and technology?
[SPEAKER_01]: Well, I guess they added technology, right?
[SPEAKER_01]: But so Trump media and technology, the only value that it has is the president is the fact that the president of the United States, who sits in the oval office, who has all this political power to tilt the playing field in your direction, it's his company.
[SPEAKER_01]: So what this company had to
[SPEAKER_01]: Right.
[SPEAKER_01]: So Trump was able to sell that to leverage that power to get this deal done.
[SPEAKER_01]: And obviously now the the merged partner expects that they're going to get to leverage this that they're going to get something from the government that they might not have got had they not merged.
[SPEAKER_01]: with Trump, how can that even be legal to do stuff like this?
[SPEAKER_01]: And of course, who knows?
[SPEAKER_01]: I mean, maybe because Donald Trump is president, right?
[SPEAKER_01]: He won't do something directly with this company.
[SPEAKER_01]: He'll have somebody else do something for this company and then reward them somehow with a presidential favor, right?
[SPEAKER_01]: He is in a position to make billions or take billions, right?
[SPEAKER_01]: He's got all this power and he's using it.
[SPEAKER_01]: who rightfully criticized Joe Biden and Hunter Biden for the penny-annies stuff that they were doing.
[SPEAKER_01]: You know, compared to the billions, I mean, Trump has taken this thing to a whole new level, right?
[SPEAKER_01]: And out in the open,
[SPEAKER_01]: I said, at least the Biden's had the decency to try to hide this with shell companies and they were laundering the money.
[SPEAKER_01]: I mean, Trump figures, you know what?
[SPEAKER_01]: Let's just do it right out in the open.
[SPEAKER_01]: That way nobody can accuse us because it's like we're being so open about it.
[SPEAKER_01]: And I guess it started, you know, the trial balloon was Milan, you coin and Trump coin.
[SPEAKER_01]: Got away with that and he's like, hey, you know, I might as well keep going press my locks.
[SPEAKER_01]: He would also like to get away with him.
[SPEAKER_01]: He's parling this office into a huge windfall.
[SPEAKER_01]: So at least, you know, at least the Wall Street Journal, you know, is looking into this, right?
[SPEAKER_01]: That's why they contacted me.
[SPEAKER_01]: But it's interesting.
[SPEAKER_01]: They saw my post on X.
[SPEAKER_01]: That's how they they contacted me.
[SPEAKER_01]: to talk about it.
[SPEAKER_01]: So the president now's going to start to hear my name a few times.
[SPEAKER_01]: He's really going to start getting pissed.
[SPEAKER_01]: I hope, you know, I hope, I hope it doesn't sick the IRS on me anymore than they already have, right?
[SPEAKER_01]: And stuff like that because, you know,
[SPEAKER_01]: Uh, I joked on X when I was flying, uh, to Florida to meet with Tucker.
[SPEAKER_01]: I put it, I said, I hope the president doesn't shoot down our plane, uh, because they've been, well, they've been shooting down boats or blown up boats.
[SPEAKER_01]: But, uh, that was, I don't, I didn't expect them to shoot me down, but it was kind of like, I know I'm getting under a skin, right?
[SPEAKER_01]: I struck a nerve when I told the truth on, on Fox, on Fox news.
[SPEAKER_01]: Well, I don't think that I miss, what did I try to remember what Trump said out his speech about the economy?
[SPEAKER_01]: Um, oh yeah, he talked about the big, beautiful bill.
[SPEAKER_01]: many times about this massive tax cut, biggest tax cut in US history.
[SPEAKER_01]: Yes, irresponsible, right?
[SPEAKER_01]: He inherits a big problem from Biden.
[SPEAKER_01]: And the biggest problem he inherited was the deficit, right?
[SPEAKER_01]: Because that was the source of the inflation.
[SPEAKER_01]: So he inherits this big deficit.
[SPEAKER_01]: And what does he do?
[SPEAKER_01]: The biggest tax cut ever.
[SPEAKER_01]: Why do you do that?
[SPEAKER_01]: What we needed was the biggest spending cut ever.
[SPEAKER_01]: What we needed was doge.
[SPEAKER_01]: on steroids.
[SPEAKER_01]: And initially, yeah, Elon Musk came to town.
[SPEAKER_01]: He had little ex on his shoulders.
[SPEAKER_01]: And he brought his team in there to the White House.
[SPEAKER_01]: And was going to cut spending.
[SPEAKER_01]: And the minute he started trying to cut it, they ran him out of town.
[SPEAKER_01]: Like, hey, come on, we're not really cutting.
[SPEAKER_01]: It's all bullshit.
[SPEAKER_01]: This is all part of the Trump show.
[SPEAKER_01]: We're not cutting anything, right?
[SPEAKER_01]: Nothing got cut.
[SPEAKER_01]: But we needed more than just to cut the fat.
[SPEAKER_01]: We needed to cut into the bone.
[SPEAKER_01]: The government is much too big, you know, you want to know why we have an affordability crisis because we're spending so much money on government.
[SPEAKER_01]: There's not much left over for everything else.
[SPEAKER_01]: Because the big beautiful bill wasn't a tax cut.
[SPEAKER_01]: It was a tax hike.
[SPEAKER_01]: And the reason it was a tax hike is because government spending went up.
[SPEAKER_01]: And because the big beautiful bill resulted in a bigger
[SPEAKER_01]: The public has to pay for it.
[SPEAKER_01]: We don't get all this government for free.
[SPEAKER_01]: And so if Trump is not going to be honest and take our money, he's going to be dishonest and take our purchasing power.
[SPEAKER_01]: So because we have to print all this money and spend all this borrowed money in the circulation,
[SPEAKER_01]: The cost of living is going up.
[SPEAKER_01]: So everything is less affordable because we're spending so much of our purchasing power on government, we're buying all this government, whether we realize it or not, that doesn't leave as much left over to buy the things that we really want or the things that we really need.
[SPEAKER_01]: Anyway, I wanna talk about the crypto.
[SPEAKER_01]: I think that we are very, very close.
[SPEAKER_01]: to a meltdown, a big crash in Bitcoin.
[SPEAKER_01]: And I say that mainly looking at microstrategy stock.
[SPEAKER_01]: Because look at that chart, look at this stock.
[SPEAKER_01]: It's hard to find a worse looking chart than microstrategy.
[SPEAKER_01]: I mean, it closed at 150, eight today.
[SPEAKER_01]: The 52-week-low is about 155.
[SPEAKER_01]: We'll probably take that out tomorrow.
[SPEAKER_01]: But I think at a minimum, at a minimum, in the very short run, it's gonna get cut in half.
[SPEAKER_01]: Maybe around 80, right?
[SPEAKER_01]: And...
[SPEAKER_01]: There's no way that micro strategy stock is going to go down by 50% and Bitcoin not go down.
[SPEAKER_01]: You know, maybe not quite as much, you know, so the discount that it trades at relative the Bitcoin will widen, but Bitcoin's going to go down at least of 50,000.
[SPEAKER_01]: You'd have to say at least 50,000 if micro strategy goes down to 80.
[SPEAKER_01]: And it could do that before the end of the year.
[SPEAKER_01]: Now.
[SPEAKER_01]: 50,000 is still a high price for Bitcoin, because you know, it's nothing, right?
[SPEAKER_01]: You're buying nothing, and you're paying 50,000 for it, right?
[SPEAKER_01]: So it's a lot.
[SPEAKER_01]: But what I think is gonna happen if we crack 50,000 in Bitcoin, I think that a lot of the loans that were taken out against Bitcoin, a lot of the, you know,
[SPEAKER_01]: people, a lot of the people this year, earlier this year, we're so convinced that with the Bitcoin president and the Bitcoin strategic reserve, which is really the Bitcoin bailout fund, but with a Bitcoin strategic reserve.
[SPEAKER_01]: with all these countries supposedly buying Bitcoin with the president behind Bitcoin with sailor buying, I mean, he's bought now over 50 billion and he's buying as much as he can.
[SPEAKER_01]: He's going to have to stop because he's now destroying shareholder value.
[SPEAKER_01]: He's selling stock below its NAV to buy Bitcoin.
[SPEAKER_01]: He should be doing the reverse.
[SPEAKER_01]: He should be selling Bitcoin and buying back stock.
[SPEAKER_01]: That would maximize shareholder value, but he can't do that because that would destroy the value of the Bitcoin.
[SPEAKER_01]: uh, to shrink the Bitcoin per share in order to sell stock to prop up the price of Bitcoin because the minute he stops buying, uh, you know, it can, it can, it can implode, but people I think were very confident when Bitcoin was over a hundred thousand.
[SPEAKER_01]: that it could only go up right with and especially with all the other copycat bitcoin treasury companies right buy and bitcoin announcing their bitcoin buys
[SPEAKER_01]: And so that's what made a lot of the Bitcoiners feel that they can borrow against their Bitcoin.
[SPEAKER_01]: I mean, they didn't want to sell the Bitcoin because A, that would generate attacks, right?
[SPEAKER_01]: You bought Bitcoin $1,000, $500, even $10,000, who wants to sell it at $100,000 and pay that big capital gains tax, right?
[SPEAKER_01]: I'm just going to borrow and pay no tax, right?
[SPEAKER_01]: You can borrow the money out.
[SPEAKER_01]: You haven't made a sale.
[SPEAKER_01]: You technically don't have any income.
[SPEAKER_01]: So you can borrow that money out tax-free.
[SPEAKER_01]: Number one.
[SPEAKER_01]: Now number two, I don't want to get off this train, just there's no stopping it.
[SPEAKER_01]: Bitcoin's going to 200,000, 300,000, 400,000.
[SPEAKER_01]: Why should I sell it at 100,000?
[SPEAKER_01]: I'm just gonna borrow and that's gonna keep going up and I'm gonna keep on borrowing and I'll never have to pay any taxes because my Bitcoin's gonna go up forever.
[SPEAKER_01]: I'm just gonna be rich and whatever I want I'll just borrow.
[SPEAKER_01]: That was the mindset.
[SPEAKER_01]: Now my thinking is that below 50,000 is when a lot of these margin calls are gonna get triggered.
[SPEAKER_01]: Right?
[SPEAKER_01]: We're okay.
[SPEAKER_01]: I borrowed money against my Bitcoin when it was worth 100,000.
[SPEAKER_01]: But now that it's worth 50,000, there's not enough collateral left for the lender.
[SPEAKER_01]: The lender's getting real nervous.
[SPEAKER_01]: Right?
[SPEAKER_01]: And so the lender is going to contact the borrower and say, look, I don't know.
[SPEAKER_01]: You got 24 hours, 48 hours.
[SPEAKER_01]: You got to send in some more money.
[SPEAKER_01]: you got to send in some or Bitcoin, you got to do something because you got too much loan value here.
[SPEAKER_01]: So you got whatever and of course they probably don't have the money because they they spent it, right?
[SPEAKER_01]: That's why they borrowed it.
[SPEAKER_01]: They had money.
[SPEAKER_01]: They wouldn't have taken out a loan.
[SPEAKER_01]: And so a lot of this Bitcoin is going to get sold.
[SPEAKER_01]: And the market's going to implode.
[SPEAKER_01]: Then it's going to trigger mass liquidations from the ETF investors who are not die-hard Bitcoin Macsies.
[SPEAKER_01]: They just bought this thing because they were told they'd make some quick money.
[SPEAKER_01]: A lot of them unfortunately sold their gold ETFs and their gold stocks to buy Bitcoin.
[SPEAKER_01]: They're going to cash out.
[SPEAKER_01]: There's no way to take the other side of that trade.
[SPEAKER_01]: They've been getting out, right?
[SPEAKER_01]: The OGs and the whales, they've been selling.
[SPEAKER_01]: They don't want to buy it back.
[SPEAKER_01]: Meanwhile, even Tether that used to be a big buyer, they're buying gold.
[SPEAKER_01]: They're even done by Bitcoin, right?
[SPEAKER_01]: They want real gold, right?
[SPEAKER_01]: That's what they're buying.
[SPEAKER_01]: So we are, I think, on the verge of a major crash in Bitcoin.
[SPEAKER_01]: And, you know, even if it doesn't happen, the safe thing to do is get the hell out now.
[SPEAKER_01]: Just wait, just wait a while, just see.
[SPEAKER_01]: It's not gonna run away to the upside, right?
[SPEAKER_01]: It's either gonna crash, or maybe it's gonna go down a little or go sideways.
[SPEAKER_01]: There's very little upside.
[SPEAKER_01]: The upside's in golden silver, right?
[SPEAKER_01]: Get rid of your Bitcoin, go to shift gold, cash in your Bitcoin, buy some golden silver.
[SPEAKER_01]: Because this is going to be a epic decline.
[SPEAKER_01]: And it's ironic too, because I do think we're going to have a dollar crisis.
[SPEAKER_01]: But the Bitcoin crisis is going to happen first.
[SPEAKER_01]: And a lot of people who bought Bitcoin thought that they were protecting themselves from a dollar crisis.
[SPEAKER_01]: They were wrong if they wanted protection.
[SPEAKER_01]: They should have bought gold or silver.
[SPEAKER_01]: They gambled right they were told that they were going to this was going to be the fastest horse in the race Well first of all, it's not even in the race anymore.
[SPEAKER_01]: It's out in the pasture, but pretty soon is going to be in the glue factory So you got to get out, but Bitcoin crashing is actually going to be a problem for the economy All right, there's actually a lot of risk associated with a Bitcoin crash
[SPEAKER_01]: Because not only are the networks of the Bitcoin holders going to be wiped out.
[SPEAKER_01]: So a lot of young people are going to lose everything.
[SPEAKER_01]: Unfortunately, some of the older people who bought Bitcoin, they could be wiped out if they put too much of their retirement money in there, they put their IRAs in there.
[SPEAKER_01]: The lawyers are going to have a field day, because I think all the Bitcoin IRA companies are going to get sued for sure, because they're going to say, you never should let me put my retirement money into something like Bitcoin.
[SPEAKER_01]: I mean, I don't have a problem with the young guys losing money in Bitcoin, you know?
[SPEAKER_01]: Because if you're going to lose money, when your young is the best time to lose it, A is because you don't have a lot of money when you're young, right?
[SPEAKER_01]: Um, you have a lifetime to not only earn it back, but to learn from your mistakes.
[SPEAKER_01]: And believe me, people made big mistakes, and it's a valuable lesson when they lose all their money and Bitcoin.
[SPEAKER_01]: But if you're my age and you lose all your money in Bitcoin, it's a big problem.
[SPEAKER_01]: Because A by the time you're my age, you should have a lot of money.
[SPEAKER_01]: You should have saved, you know, you're basically knocking on the door of retirement.
[SPEAKER_01]: So you lose the money, you don't have the years to make it back.
[SPEAKER_01]: And you don't have anything to learn from it because you're most of your life is gone, right?
[SPEAKER_01]: So you don't get a lifetime of benefit from a valuable lesson learned, you know, that believe me, you young guys that lose your money in Bitcoin,
[SPEAKER_01]: these losses are a valuable lesson that will prevent you from losing more money later, right?
[SPEAKER_01]: And of course, one day you'll probably be in the same position at all, man, you got some kids that are doing something stupid, and you're going to try to convince them not to do it, and you'll be able to use your experience with Bitcoin as an example.
[SPEAKER_01]: of how you lost money when you were young and you did something dumb and they're going to say what do you know you know funny daddy you know you don't get the new thing right because you get it right everybody thinks they've reinvented the wheel everybody thinks that they're no more than their parents and their great grandparents and you know they're the first to ever do this but but that's coming and I look at this I think this is going to be a meltdown then again so not only is it going to be a wealth effect
[SPEAKER_01]: because people are going to lose their money in Bitcoin.
[SPEAKER_01]: A lot of people are going to lose their jobs, because a lot of these crypto companies are going to go out of business.
[SPEAKER_01]: And a lot of the people that work for crypto companies own a lot of crypto.
[SPEAKER_01]: So not only are they going to lose their jobs, they're not going to have anything to fall back on to tie them over because they're going to lose that too.
[SPEAKER_01]: They're losing their jobs, they're losing their portfolios,
[SPEAKER_01]: So there's some systemic risk here.
[SPEAKER_01]: There's lenders that are going to lose who've loan money against Bitcoin collateral, you know, Michael sailor, keep talking about how Bitcoin is this great collateral.
[SPEAKER_01]: It's horrible collateral.
[SPEAKER_01]: We're going to find that out.
[SPEAKER_01]: uh... landlords are gonna lose money when they're tenants these crypto companies don't pay the rent anymore uh... it's gonna cascade right there's gonna be uh... some ramifications better just gonna worsen the economy that was going to weaken anyway so this is what's this is what's coming so get out of it quite a lot of people's out Peter you know you've been you've been wrong on bitcoin
[SPEAKER_01]: Yeah, I have been wrong in the past when I've said I thought the price was going to go down, although I have been right and I've called many big Bitcoin declines.
[SPEAKER_01]: The thing is that Bitcoin is always recovered from those declines.
[SPEAKER_01]: Now, maybe it will recover from this big crash.
[SPEAKER_01]: I wouldn't want to bet on it.
[SPEAKER_01]: And
[SPEAKER_01]: Eventually, it's going down for the count.
[SPEAKER_01]: It's going to be knocked down, and it's knock out.
[SPEAKER_01]: It ain't getting back up.
[SPEAKER_01]: Everybody is complacent, right?
[SPEAKER_01]: They think, well, it's always going to come back, right?
[SPEAKER_01]: All I have to do is hold on.
[SPEAKER_01]: All I have to do is ride it out, and I'm guaranteed to be rich, right?
[SPEAKER_01]: Michael Celer, volatility is not a bug.
[SPEAKER_01]: It's a feature.
[SPEAKER_01]: We want volatility.
[SPEAKER_01]: Yeah, right.
[SPEAKER_01]: One of these days, you just don't know when, right?
[SPEAKER_01]: the crash is the last one and this might be the last one.
[SPEAKER_01]: That's coming.
[SPEAKER_01]: Right.
[SPEAKER_01]: We made, you know, we may have seen the highs.
[SPEAKER_01]: We have seen the highs.
[SPEAKER_01]: I said this and I was right about this Bitcoin is like 40% below where it was priced in gold four years ago.
[SPEAKER_01]: That is big.
[SPEAKER_01]: That is significant because that's the best way to price it.
[SPEAKER_01]: And if Bitcoin couldn't make new highs this year, we'll all that had had going for it.
[SPEAKER_01]: The whole might of the White House, the presidency, the cabinet, all being Bitcoin, and the Bitcoin's are.
[SPEAKER_01]: And all the Bitcoin treasury companies, and all this stuff, if Bitcoin went down in that environment, imagine how much lower it's gonna fall, right?
[SPEAKER_01]: As it becomes less popular, right?
[SPEAKER_01]: And everything going for it,
[SPEAKER_01]: yet it couldn't go up.
[SPEAKER_01]: Right.
[SPEAKER_01]: That's it.
[SPEAKER_01]: It has exhausted.
[SPEAKER_01]: And there's a very good chance that it's going down.
[SPEAKER_01]: In fact, the only reason that Bitcoin even had that last big rally to 100,000, because people make fun of me, because I said it will never get to 100,000, had Trump not been elected.
[SPEAKER_01]: I would have been correct.
[SPEAKER_01]: It never would have hit 100,000.
[SPEAKER_01]: But it only got to 100,000 because of Trump.
[SPEAKER_01]: But now it's back below 100,000, and it may never get back up there again, right?
[SPEAKER_01]: So you want to get out.
[SPEAKER_01]: The last thing I want to leave you with, a couple things, remember, you know,
[SPEAKER_01]: Gold and silver especially silver makes a good stocking stuff for you know, you can buy you know some silver rounds silver coins You know keep some for yourself, but you can you can put some As presents for people you could also give me the subscription why was it free subscription to ship sovereign so you should sign up for that But you know we also have a paid newsletter that you can take a look at after you sign up for for the free one
[SPEAKER_01]: Make sure and contact the representatives at your Pacific asset management to set up your managed account to get as far away from the U.S. dollar as you can far away from the U.S. stock market, you know, in the 2008 financial crisis, everybody fled to the dollar.
[SPEAKER_01]: This crisis is gonna be because everybody is fleeing from the dollar, and it's a whole different ballgame in how you need to be invested.
[SPEAKER_01]: Golden silver will do much better than they did in 08, but so we'll foreign stocks emerge you markets.
[SPEAKER_01]: So you need to load up on these things now before the new year.
[SPEAKER_01]: And I do think that when the new year starts,
[SPEAKER_01]: And people look back at where the good returns were in 2025, they're going to see the performance.
[SPEAKER_01]: In fact, you know, our dividend payer strategy is up about 60% on the year.
[SPEAKER_01]: I mean, that dwarfs the S&P.
[SPEAKER_01]: I mean, so people are making a lot of money investing internationally.
[SPEAKER_01]: And I think in January, people are going to look back at 20, 25.
[SPEAKER_01]: In fact, I think we're going to win some lip or awards for our funds for the best performing funds.
[SPEAKER_01]: We'll see.
[SPEAKER_01]: I think my value fund is going to win the number one fund over the past 10 years, best in best in class over 300 funds, best return over 10 years.
[SPEAKER_01]: I think my dividend pair strategy is going to win best fund of the year in its category.
[SPEAKER_01]: Again, 300 or so funds.
[SPEAKER_01]: best return of the year.
[SPEAKER_01]: And I may even get some best returns three or five year time.
[SPEAKER_01]: I'm not leading there yet, but you never know the last couple of weeks I could gain enough extra distance to actually be the tops for three years or five years.
[SPEAKER_01]: We're close.
[SPEAKER_01]: We're just not at the top.
[SPEAKER_01]: So I think you know what people look back.
[SPEAKER_01]: they're going to see how good these returns are and they're going to want to put more money into foreign stocks and that's going to obviously push prices up higher.
[SPEAKER_01]: So before they have a chance to do that, top up your own position, invest more in our strategies or you don't have any money you know, talk to the representatives and do something.
[SPEAKER_01]: And then finally, you know, I forgot to mention this on my last podcast, because I meant to, but I mentioned, I mentioned it on the shift-gold market wrap, which I did on Friday.
[SPEAKER_01]: But a lot of you follow my wife, Lauren Chiff.
[SPEAKER_01]: She's been making music kind of as a creative outlet.
[SPEAKER_01]: She was a stage actress before we got married in New York and now she's a wife and mother.
[SPEAKER_01]: But she is very artistic and very creative.
[SPEAKER_01]: And so she started writing songs.
[SPEAKER_01]: And her partner is a guy that was the lead guitar player for third eye blind right so going back.
[SPEAKER_01]: And Tony was a fan of mine and reached out to me just kind of because he was a fan of the podcast and I kind of introduced him to Lauren and they can, you know, work together on these songs and Lauren actually helps, you know, arrange the music as well, but he does a lot of the music, you know, and Lauren writes the lyrics and then sings the songs, right?
[SPEAKER_01]: And so their album was called Funny Money, which is kind of, you know, and nod to me, uh, and they've been releasing these songs, uh, and the, the first one was GYB, uh, and, um, she hadn't released one now.
[SPEAKER_01]: It's been a couple months.
[SPEAKER_01]: She's still got about at least a half a dozen of these things in the queue, like waiting to drop, but she, you know, she keeps working on them, improving them.
[SPEAKER_01]: But the most recent one called yesterdays came out last week, and so I wanted to encourage
[SPEAKER_01]: If you're on YouTube and you're seeing this on YouTube, they've got a YouTube channel, a laughing cat, if you go laughing cats music, you search that, you'll find laughing cats.
[SPEAKER_01]: And you can also subscribe to the channel, so you'll get notified when the next song comes out on YouTube.
[SPEAKER_01]: She's also on Spotify, but people have to have an account there, right?
[SPEAKER_01]: You have to pay the count on Spotify.
[SPEAKER_01]: But if you look up on laughing cats,
[SPEAKER_01]: uh... you'll see uh... you'll see her um... you know you'll you'll come up but not only listen to yesterday's but listen to um... her other songs if you have a list on the first one was GYB her favorite song is jerk uh... and we have a video there a lot of people think what did she name not one after me yeah she claims it wasn't it wasn't after me but you know who knows but the title of that song is jerk you know what are my favorite songs that she has that it's on the internet is not part of laughing cats if you want to hear it
[SPEAKER_01]: You got to go on Spotify and under her maiden name, Lauren McCourt.
[SPEAKER_01]: She has a song that she actually sang and helped write and it was in the last Bruce Willis movie and they played it in the closing credits.
[SPEAKER_01]: You can listen to that song.
[SPEAKER_01]: It's a beautiful song.
[SPEAKER_01]: I think she did a really good job.
[SPEAKER_01]: a singing.
[SPEAKER_01]: It's called goodbye and there's a regular version and there's an acoustic version, but you can listen to that one too.
[SPEAKER_01]: But I think it's good to support the music.
[SPEAKER_01]: I actually, it's really good music.
[SPEAKER_01]: I mean, it's catchy, you know, sometimes I find myself singing these songs and a lot of people that I run into tell me, yeah, they really, they really like her music and they listen to it.
[SPEAKER_01]: And, you know, this is just a hobby.
[SPEAKER_01]: I mean, we don't make any money.
[SPEAKER_01]: In fact, I spend money, right?
[SPEAKER_01]: I help it, or help it, or record all this stuff.
[SPEAKER_01]: You know, she uses the podcast here, the studio.
[SPEAKER_01]: It's also a recording studio.
[SPEAKER_01]: So Tony comes out sometimes.
[SPEAKER_01]: They work on this stuff.
[SPEAKER_01]: And sometimes they perform live, you know, here.
[SPEAKER_01]: But so anyway, so go either, go to Spotify, go to YouTube, and have a listen.
[SPEAKER_01]: The most recent one is called Yesterdays.
[SPEAKER_01]: But they're all good songs more coming and you know, leave a comment, you know, let her know that you know what you think of her of the of the work and and the songs anyway have a wonderful rest of your Hanukkah for those of you who celebrate that.
[SPEAKER_01]: If I don't do another podcast before Christmas, I mean, I might, but if I don't have a happy Christmas or Merry Christmas, rather, I'm sure I'll do one before the new year.
[SPEAKER_01]: So I can hold off on the happy new year because I'm pretty sure something big is going to happen and I'll end up doing another one before then.
[SPEAKER_01]: And again, watch out for an impromptu space.
[SPEAKER_01]: where I just feel like talking and the thing about the spaces that I do is you have a chance to ask me questions, right?
[SPEAKER_01]: On these podcasts, you know, it's just me talking, there's no real interaction, but when I do an x space, you can interact.
[SPEAKER_01]: You can agree with me, you can disagree with me, you can make a point, you can ask a question, and so, and sometimes I'm on there for like three hours at a time, right?
[SPEAKER_01]: So, you know, I get going and then, you know, I never stop because
[SPEAKER_01]: and so make sure to look out.
[SPEAKER_01]: And again, you know, I already said this, but if you like the video, give it a thumbs up, leave me a comment, and make sure and subscribe to the channel if you're not currently a subscriber.
[SPEAKER_01]: Bye for now.