WEBVTT 00:02.545 --> 00:05.068 [SPEAKER_00]: Make no friends in the pits and you take no prisoners. 00:05.148 --> 00:07.391 [SPEAKER_00]: One minute, you're up half a minute and soybeans in the next pool. 00:07.491 --> 00:09.833 [SPEAKER_01]: Your kids don't go to college and they've redesessed your fence here with me. 00:10.194 --> 00:12.917 [SPEAKER_01]: So, revolution starts now, starts. 00:14.038 --> 00:18.063 [SPEAKER_00]: We have to pass the bills so that you can find out what is in it. 00:18.163 --> 00:19.805 [SPEAKER_01]: Cardinals machine back off! 00:20.446 --> 00:24.030 [SPEAKER_01]: You are about to enter a Peter ship show. 00:25.664 --> 00:28.290 [SPEAKER_01]: If we lose freedom here, there's no place to escape to. 00:28.370 --> 00:29.854 [SPEAKER_01]: This is the last stand on Earth. 00:29.874 --> 00:31.277 [SPEAKER_01]: A Peter ship shall be solved. 00:31.838 --> 00:35.466 [SPEAKER_01]: I don't know when they decided that they wanted to make a virtue out of selfishness. 00:35.627 --> 00:36.208 [SPEAKER_01]: You're money. 00:36.709 --> 00:38.814 [SPEAKER_01]: You're storing this for your freedom. 00:38.994 --> 00:40.618 [SPEAKER_01]: A Peter ship shall. 00:53.643 --> 00:55.228 [SPEAKER_00]: Well, welcome everybody. 00:55.268 --> 01:04.497 [SPEAKER_00]: This was an incredible, although I'm not sure that is the best way to describe it day to day. 01:05.270 --> 01:15.405 [SPEAKER_00]: And, you know, I've been saying that what's happening in golden silver is the financial story of the year of the decade. 01:15.565 --> 01:17.849 [SPEAKER_00]: It should have been a big story last year. 01:17.909 --> 01:20.993 [SPEAKER_00]: It should be an even bigger story this year. 01:21.474 --> 01:32.931 [SPEAKER_00]: In fact, it should be the only thing that they are talking about because it's the only thing that really matters right now to the global economy and to finance. 01:32.911 --> 02:01.348 [SPEAKER_00]: yet you look at CNBC its business as usual if they mention gold and silver it's in passing and they don't even care and it was mentioned at today's fed press conference and i'm going to talk about that uh... in a few minutes what i get to it uh... but gold as i am recording this live podcast 02:01.497 --> 02:13.655 [SPEAKER_00]: this evening after being up $235 during the day, $235 gold clothes earlier today at 54 14. 02:15.738 --> 02:20.625 [SPEAKER_00]: But an hour ago, gold was up more than another $150. 02:22.488 --> 02:26.053 [SPEAKER_00]: We almost got to 56 hundred. 02:27.198 --> 02:32.297 [SPEAKER_00]: Gold was up $400 within a single day. 02:32.851 --> 02:35.774 [SPEAKER_00]: Now, I mean, it's not midnight yet. 02:35.814 --> 02:39.598 [SPEAKER_00]: So who knows, maybe it'll make new eyes and it'll be up even more. 02:40.118 --> 02:45.063 [SPEAKER_00]: Silver made a new all-time record high, an hour ago. 02:45.124 --> 02:48.187 [SPEAKER_00]: Silver got above 119. 02:48.567 --> 02:54.633 [SPEAKER_00]: It almost hit 120, but it got above 119 dollars announced. 02:54.653 --> 03:00.259 [SPEAKER_00]: It's now trading at just over 117, which was the record high we set on Monday. 03:00.239 --> 03:06.266 [SPEAKER_00]: And because we sold off, everybody thought, oh, the top is in, silver was up a couple of bucks today. 03:06.527 --> 03:08.549 [SPEAKER_00]: Most silver stocks were down today. 03:09.050 --> 03:10.231 [SPEAKER_00]: That's how insane it is. 03:11.012 --> 03:15.497 [SPEAKER_00]: Gold stocks were barely up some, yeah, hit new highs, but it wasn't a big day. 03:15.538 --> 03:19.322 [SPEAKER_00]: If you just looked at gold stocks, you would have no idea that gold was up $235. 03:19.382 --> 03:19.622 [SPEAKER_00]: Right? 03:20.764 --> 03:21.625 [SPEAKER_00]: You'd think, oh, what's it up? 03:21.645 --> 03:22.706 [SPEAKER_00]: $50, $40? 03:23.027 --> 03:24.188 [SPEAKER_00]: No, right? 03:24.168 --> 03:26.130 [SPEAKER_00]: Investors are clueless. 03:26.451 --> 03:29.093 [SPEAKER_00]: The financial commentators are clueless. 03:29.113 --> 03:37.563 [SPEAKER_00]: The Fed is clueless about what is going on right now with gold and silver and what it portends. 03:37.623 --> 03:46.853 [SPEAKER_00]: That is why you listen to the Peter's shift show because I understand what this means because I was predicting this. 03:47.434 --> 03:49.416 [SPEAKER_00]: I knew this was going to happen. 03:49.736 --> 03:52.099 [SPEAKER_00]: I can see it coming from a mile away. 03:52.805 --> 04:01.721 [SPEAKER_00]: The mainstream media, which had no idea that this was going to happen to the price of gold, they don't understand why it's going up because they didn't expect it. 04:02.182 --> 04:10.557 [SPEAKER_00]: If I've been predicting this for years and now it's happening, okay, I know why it's happening because I expected it to happen. 04:10.998 --> 04:13.783 [SPEAKER_00]: I actually expected it to happen sooner. 04:13.915 --> 04:19.685 [SPEAKER_00]: But the mainstream financial media didn't expect it to happen at all because they don't know what they're talking about. 04:20.426 --> 04:23.371 [SPEAKER_00]: They are clueless as is the Federal Reserve. 04:23.551 --> 04:26.977 [SPEAKER_00]: It's the blind leading the blind over there at the Federal Reserve. 04:26.997 --> 04:33.949 [SPEAKER_00]: But before I get to the FOMC decision announced today and the press conference, 04:33.929 --> 04:48.815 [SPEAKER_00]: which I don't know if this is, they keep topping each other in absurdity, but I don't know if this one contained the most blatantly absurd comments from Powell, but maybe it did. 04:49.316 --> 04:51.600 [SPEAKER_00]: But before I get to that, let me just kind of... 04:51.580 --> 05:13.082 [SPEAKER_00]: go back to yesterday because yesterday was a big day yesterday was the biggest day for gold until today dollar wise gold was up like 135 dollars yesterday which I guess is nothing compared to today but gold made a record high yesterday but what also happened yesterday the dollar got 05:14.733 --> 05:18.779 [SPEAKER_00]: The Swiss Frank, the dollar fell to an all-time record low. 05:19.180 --> 05:24.889 [SPEAKER_00]: The dollar has never been lower against the Swiss Frank than the level of yesterday. 05:26.631 --> 05:31.659 [SPEAKER_00]: We also got consumer confidence that came out at a 12-year low. 05:33.783 --> 05:38.530 [SPEAKER_00]: So the dollars at a four-year low, consumer confidence is at a 12-year low. 05:38.550 --> 05:43.137 [SPEAKER_00]: Golds at an all-time high, and Donald Trump is out there saying we have the hottest 05:43.842 --> 05:46.546 [SPEAKER_00]: How is that possible? 05:46.566 --> 05:46.686 [SPEAKER_00]: Right? 05:46.706 --> 05:47.727 [SPEAKER_00]: Voters are buying it. 05:47.807 --> 05:53.856 [SPEAKER_00]: The public, if we had such a hot economy, people would be more confident in the strength of the economy. 05:54.877 --> 05:58.582 [SPEAKER_00]: If we had such a hot economy, capital would be flowing into America. 05:58.923 --> 06:02.628 [SPEAKER_00]: See, Trump keeps talking about all this money that's being invested in America. 06:02.648 --> 06:05.011 [SPEAKER_00]: Well, if that were the case, the dollar would be going up. 06:05.552 --> 06:05.712 [SPEAKER_00]: Right? 06:05.732 --> 06:09.597 [SPEAKER_00]: If you're going to make investments in America, you're making them in US dollars. 06:09.745 --> 06:19.656 [SPEAKER_00]: So if there was trillions being invested in America, the dollar would be going up because people all around the world would have to buy dollars to make those investments. 06:20.437 --> 06:24.882 [SPEAKER_00]: The fact that the dollar is tanking, shows you that Trump is lying. 06:25.402 --> 06:26.924 [SPEAKER_00]: They aren't investing in America. 06:27.164 --> 06:29.407 [SPEAKER_00]: They're divesting from America. 06:29.847 --> 06:31.048 [SPEAKER_00]: They are selling America. 06:31.229 --> 06:34.833 [SPEAKER_00]: They are getting out of America because we don't have the hottest economy in the world. 06:34.853 --> 06:37.896 [SPEAKER_00]: We have the coldest economy in the world. 06:37.876 --> 06:42.641 [SPEAKER_00]: The consumer knows it, investors knows it, just that Trump doesn't know it. 06:42.701 --> 06:50.310 [SPEAKER_00]: And all the Trump ass-kissers in the Republican Party don't know it, because they keep parading the lie that we have this great economy. 06:50.330 --> 07:00.621 [SPEAKER_00]: And they're just going to go down with the ship, and they're going to take the whole party and capitalism down with them, because it's going to elevate the credibility of socialism. 07:01.122 --> 07:03.765 [SPEAKER_00]: So all this stuff happened 07:03.897 --> 07:09.350 [SPEAKER_00]: yesterday and also by the way, can it caters prime minister, I didn't mention this, but he gave a speech, right? 07:10.252 --> 07:18.852 [SPEAKER_00]: And in his speech, he said that the global political order had been ruptured. 07:19.253 --> 07:22.978 [SPEAKER_00]: And Ray Dalio talked about how there's going to be a new political order. 07:23.479 --> 07:24.179 [SPEAKER_00]: Right? 07:24.200 --> 07:25.201 [SPEAKER_00]: What are they talking about? 07:25.221 --> 07:27.924 [SPEAKER_00]: They're talking about the end of US dollar dominance. 07:28.345 --> 07:31.189 [SPEAKER_00]: That is the political order that's being turned upside down. 07:31.850 --> 07:32.711 [SPEAKER_00]: Right? 07:32.731 --> 07:36.836 [SPEAKER_00]: And that's what's going to topple America's economy because we depend on this order. 07:37.297 --> 07:39.500 [SPEAKER_00]: This is the order where we get to buy everything. 07:39.880 --> 07:40.000 [SPEAKER_00]: Right? 07:40.020 --> 07:41.002 [SPEAKER_00]: We don't have to work hard. 07:41.022 --> 07:43.124 [SPEAKER_00]: We don't have to produce, but we get to consume. 07:43.545 --> 07:45.768 [SPEAKER_00]: We get to write checks that nobody ever cashs us. 07:46.229 --> 07:48.872 [SPEAKER_00]: We had a great deal going. 07:48.852 --> 08:07.958 [SPEAKER_00]: and Trump blew it right now it was going to happen eventually anyway right whether Trump escalated or not and I went over on prior podcast how Trump had poked the bear and and brought this out but now it's out and the order is being turned on upside down. 08:07.938 --> 08:10.841 [SPEAKER_00]: and central banks are remodetizing gold. 08:11.461 --> 08:14.324 [SPEAKER_00]: They don't want dollars, they don't want treasuries, they want gold. 08:15.325 --> 08:19.669 [SPEAKER_00]: And this is a game changer for America because now we can't write those bum checks anymore. 08:20.249 --> 08:21.350 [SPEAKER_00]: Now they have to clear. 08:21.931 --> 08:23.332 [SPEAKER_00]: Americans have to produce again. 08:23.512 --> 08:24.173 [SPEAKER_00]: We can't do it. 08:24.493 --> 08:25.614 [SPEAKER_00]: We don't have the factories. 08:25.894 --> 08:27.135 [SPEAKER_00]: We don't have the infrastructure. 08:27.275 --> 08:28.577 [SPEAKER_00]: We don't have the supply chains. 08:28.817 --> 08:30.198 [SPEAKER_00]: We don't have the train workforce. 08:30.719 --> 08:31.900 [SPEAKER_00]: We're up, shit's creak, right? 08:31.940 --> 08:33.021 [SPEAKER_00]: Without a paddle, right? 08:33.041 --> 08:34.562 [SPEAKER_00]: Because they don't, we don't make paddles anymore. 08:34.582 --> 08:37.945 [SPEAKER_00]: They're all made in, they're all made in China. 08:37.925 --> 08:45.479 [SPEAKER_00]: This is a major collapse that we're going to go through, in the dollar, in the bond market. 08:47.021 --> 08:48.384 [SPEAKER_00]: Gold is just telling you that. 08:49.185 --> 08:50.147 [SPEAKER_00]: This does not happen. 08:50.187 --> 08:53.112 [SPEAKER_00]: I've been buying gold in silver for 25 years. 08:53.874 --> 08:54.755 [SPEAKER_00]: I've never seen this. 08:55.536 --> 08:57.520 [SPEAKER_00]: So something broke. 08:57.837 --> 09:05.858 [SPEAKER_00]: But if you don't know what to look for, if you don't realize that we're in a bubble, you don't see the pin, you don't know. 09:06.720 --> 09:14.260 [SPEAKER_00]: And by the way, and I apologize for this, but somebody on my exit count, 09:15.134 --> 09:22.147 [SPEAKER_00]: Posted, hey, Peter, nobody's answering the phone, it's shift-gold, and no one's returned my voicemails. 09:22.167 --> 09:28.419 [SPEAKER_00]: So I looked into it, and we had about 150 voicemails that we hadn't returned yet. 09:28.459 --> 09:33.088 [SPEAKER_00]: Now, some of them may have been the same guy calling twice, who are three times who knows. 09:33.769 --> 09:36.214 [SPEAKER_00]: But the fact of the matter is now, 09:36.683 --> 09:39.728 [SPEAKER_00]: the phones are ringing and we can't even answer them. 09:39.828 --> 09:45.056 [SPEAKER_00]: Now, I've been told that every single one of those voicemails will be returned by tomorrow. 09:45.296 --> 09:51.426 [SPEAKER_00]: The problem is gold could be three or four or five hundred dollars an ounce higher than it was when people called in. 09:51.867 --> 09:52.848 [SPEAKER_00]: This is the problem. 09:53.009 --> 09:53.169 [SPEAKER_00]: Right? 09:53.369 --> 09:57.175 [SPEAKER_00]: This is why I've been telling people to buy for so long, right? 09:57.215 --> 10:01.662 [SPEAKER_00]: Because all of a sudden you want to buy and you can't get through to the gold companies. 10:01.642 --> 10:05.007 [SPEAKER_00]: right because they're not they're not set up for the volume. 10:05.448 --> 10:08.933 [SPEAKER_00]: Now fortunately we have the online shopping cart now. 10:09.574 --> 10:16.865 [SPEAKER_00]: So the best thing to do when you go to shift gold and you should go to shift gold is use the online cart. 10:17.265 --> 10:19.228 [SPEAKER_00]: Don't wait for a person to call you back. 10:19.609 --> 10:23.074 [SPEAKER_00]: It's a long line now just buy the inventory. 10:23.234 --> 10:25.978 [SPEAKER_00]: Whatever inventory we have, just buy it. 10:25.958 --> 10:29.905 [SPEAKER_00]: because we're going to run out, especially silver, we are going to run out of silver. 10:30.066 --> 10:31.568 [SPEAKER_00]: Everybody is going to run out of silver. 10:31.849 --> 10:32.690 [SPEAKER_00]: That is the problem. 10:33.051 --> 10:36.137 [SPEAKER_00]: And what do you think is going to happen to the prices silver when there is no silver? 10:36.537 --> 10:36.678 [SPEAKER_00]: Right? 10:36.918 --> 10:39.543 [SPEAKER_00]: So you got to buy it while it's here. 10:39.583 --> 10:41.547 [SPEAKER_00]: Again, this is not a bubble. 10:41.887 --> 10:43.410 [SPEAKER_00]: This is the pin. 10:43.390 --> 10:44.694 [SPEAKER_00]: The bubble has been prepped. 10:45.155 --> 10:47.361 [SPEAKER_00]: The bubble is in the US bond market. 10:47.602 --> 10:49.748 [SPEAKER_00]: The bubble is in the US dollar. 10:49.929 --> 10:52.957 [SPEAKER_00]: The powers that be, the feders of, they are clueless. 10:53.098 --> 10:58.834 [SPEAKER_00]: They are more clueless now than they were in 2008 on the eve of the financial crisis. 10:58.814 --> 11:03.462 [SPEAKER_00]: They couldn't see that, and they can't see this. 11:03.482 --> 11:08.431 [SPEAKER_00]: But anyway, as crazy as yesterday was, today is even more insane. 11:08.952 --> 11:17.127 [SPEAKER_00]: God knows what's going to happen tomorrow, tomorrow I get on a plane and I'm headed for El Salvador for the Bitcoin Conference. 11:17.647 --> 11:20.211 [SPEAKER_00]: But by the way, you got Bitcoin. 11:20.511 --> 11:21.894 [SPEAKER_00]: You had better sell it. 11:22.555 --> 11:26.240 [SPEAKER_00]: I'm telling you the risk of the market in bloating. 11:26.541 --> 11:27.983 [SPEAKER_00]: Bitcoin did not go up today. 11:28.444 --> 11:29.405 [SPEAKER_00]: Where is Bitcoin? 11:29.786 --> 11:32.189 [SPEAKER_00]: It is 89,000, right? 11:32.510 --> 11:38.479 [SPEAKER_00]: That the biggest day, gold added more value today than the entire market cap of Bitcoin. 11:38.499 --> 11:40.482 [SPEAKER_00]: But Bitcoin shouldn't even have 11:40.462 --> 11:42.986 [SPEAKER_00]: the current market cap because it doesn't really have any value. 11:43.426 --> 11:45.449 [SPEAKER_00]: Yeah, it's an 88,687. 11:46.070 --> 11:46.671 [SPEAKER_00]: It's down. 11:47.172 --> 11:51.038 [SPEAKER_00]: Gold's up $400 in a single day and Bitcoin is down. 11:51.678 --> 11:53.241 [SPEAKER_00]: You think that's digital goals? 11:53.261 --> 11:54.763 [SPEAKER_00]: You think that's gold 2.0? 11:55.204 --> 11:56.566 [SPEAKER_00]: That's bullshit is what it is. 11:57.507 --> 11:59.550 [SPEAKER_00]: But if you have it, 11:59.530 --> 12:22.956 [SPEAKER_00]: get rid of it now I know if you sell it that means some other fool has to buy it from you so if I help you avoid losing money I'm making somebody else take the loss for you but I'd rather have people who listen to my podcast not lose money right the people who don't listen okay well you know they're on their own but if you're if you got Bitcoin and you listen to this podcast you know funny I 12:22.936 --> 12:32.693 [SPEAKER_00]: I join this what's app chat today's a friend of mine put me in this what's that group it's an investment group and they said hey, we got a new member Peter shift And the first guy says oh Peter ship. 12:32.713 --> 12:35.438 [SPEAKER_00]: I want to thank you You told me about Bitcoin. 12:35.478 --> 12:40.287 [SPEAKER_00]: I learned about Bitcoin from you in 2011 when you talked about it and I went out and bought it 12:40.452 --> 12:48.868 [SPEAKER_00]: You know, so I thought he said I was a big gold bug, but you start talking about Bitcoin and I looked into it and he bought it in 2011. 12:49.209 --> 12:54.599 [SPEAKER_00]: Now imagine how much money I made that guy, right, you know, but I hear this all the time, right? 12:54.639 --> 13:01.212 [SPEAKER_00]: People want Bitcoin because of me, but I said, okay, well now sell it because of me because it's it's it's going to go down look. 13:01.192 --> 13:03.978 [SPEAKER_00]: The whole digital gold narrative is falling apart. 13:04.860 --> 13:06.845 [SPEAKER_00]: The bottom's going to drop out any day. 13:07.206 --> 13:08.228 [SPEAKER_00]: People are just waiting. 13:08.268 --> 13:11.255 [SPEAKER_00]: People keep saying, well, it's eventually going to go into Bitcoin. 13:11.435 --> 13:12.878 [SPEAKER_00]: All the money going into gold is over. 13:13.339 --> 13:14.041 [SPEAKER_00]: It's going to go into Bitcoin. 13:14.101 --> 13:14.682 [SPEAKER_00]: No, it's not. 13:15.304 --> 13:16.787 [SPEAKER_00]: It already would have done it. 13:16.767 --> 13:17.628 [SPEAKER_00]: Right? 13:17.648 --> 13:21.573 [SPEAKER_00]: The problem is everybody who wants to buy Bitcoin already owns it. 13:22.094 --> 13:22.234 [SPEAKER_00]: Right? 13:22.334 --> 13:23.656 [SPEAKER_00]: Everybody knows about Bitcoin. 13:23.996 --> 13:25.117 [SPEAKER_00]: Everybody's heard the story. 13:25.438 --> 13:28.081 [SPEAKER_00]: And if you don't already own it, it's because you don't want to buy it. 13:28.522 --> 13:29.343 [SPEAKER_00]: That is the problem. 13:29.983 --> 13:30.704 [SPEAKER_00]: Everybody is in. 13:30.744 --> 13:39.595 [SPEAKER_00]: Now, when some of the people who are in want out, there is nobody to take the other side of the trade, Michael Salor can't buy all the Bitcoin. 13:39.936 --> 13:41.037 [SPEAKER_00]: So that's it. 13:41.017 --> 13:46.585 [SPEAKER_00]: You know, and a lot of the money in the Bitcoin ETFs, that money came from the gold ETFs. 13:46.605 --> 13:48.247 [SPEAKER_00]: It came from the gold mining ETFs. 13:48.808 --> 13:59.002 [SPEAKER_00]: I said that at the time that the month, the first couple of months, we're all these inflows came into the Bitcoin ETFs, all the outflows were from gold ETFs, and gold mining stock ETFs. 13:59.242 --> 14:00.684 [SPEAKER_00]: What an ass-in-ine trade, right? 14:00.704 --> 14:02.887 [SPEAKER_00]: The most bone-headed trade you could have made, right? 14:02.907 --> 14:06.332 [SPEAKER_00]: You lost a fortune on that trade, but you're going to lose even more. 14:06.312 --> 14:18.308 [SPEAKER_00]: when the Bitcoin crashes when you try to get out, but it's not just a money that you're losing in Bitcoin, it's the money you didn't make in the gold ETFs and the gold mining stock ETFs that you sold, right? 14:18.328 --> 14:20.691 [SPEAKER_00]: So that's the other word of advice. 14:20.711 --> 14:26.438 [SPEAKER_00]: So go to shift gold, buy some gold to silver, online, don't call us, and sell your Bitcoin. 14:26.498 --> 14:33.888 [SPEAKER_00]: And you could do two birds with one stone, it's shift gold, because you could pay with Bitcoin using the checkout with BitPay, right? 14:33.908 --> 14:35.290 [SPEAKER_00]: But the better buy, 14:36.080 --> 14:37.101 [SPEAKER_00]: are the mining stocks. 14:37.442 --> 14:41.488 [SPEAKER_00]: It is incredible how cheap they still are. 14:41.528 --> 14:43.311 [SPEAKER_00]: They've never been this cheap. 14:43.331 --> 15:02.138 [SPEAKER_00]: You know, I used to say that gold stocks were never as cheap as they were a year ago and that was true except now they're even cheaper despite the fact that they've tripled or quadrupled because their earnings are going to go up so much more than this stock price because investors are in disbelief. 15:02.118 --> 15:05.543 [SPEAKER_00]: they just think gold is going to crash because they don't know why it's going up. 15:05.563 --> 15:06.304 [SPEAKER_00]: They don't get it. 15:07.446 --> 15:07.886 [SPEAKER_00]: I get it. 15:07.906 --> 15:08.787 [SPEAKER_00]: I understand this. 15:09.989 --> 15:16.098 [SPEAKER_00]: And so, there's going to be a huge payday for the people who buy gold stocks now. 15:16.218 --> 15:17.119 [SPEAKER_00]: I'm confident of that. 15:17.460 --> 15:21.085 [SPEAKER_00]: This is they are mispriced as mispriced as gold and silver were. 15:21.105 --> 15:23.248 [SPEAKER_00]: That's why they're moving up so rapidly. 15:23.228 --> 15:24.431 [SPEAKER_00]: They're just getting reprised. 15:24.892 --> 15:28.301 [SPEAKER_00]: They were underpriced for so long, silver even longer. 15:28.802 --> 15:37.525 [SPEAKER_00]: And now that's being corrected, well, gold mining stocks are way underpriced, even though they've gone up because they've gone up from absurdly low levels. 15:37.758 --> 15:43.025 [SPEAKER_00]: They're still cheap, they're just actually their cheaper than they were before, even though the price is higher. 15:43.526 --> 15:58.767 [SPEAKER_00]: So yes, it would have been better had you take in my advice and went all in on gold stocks six months ago, a year ago, like when I was pounding this desk, telling everybody, you know, I put out a special report in March, April of last year, the best way to buy gold and I said buy gold mining stocks. 15:58.787 --> 16:06.297 [SPEAKER_00]: Now as it turns out, you may just as much as staying in gold and silver, right, because they went up by about the same amount. 16:06.277 --> 16:09.122 [SPEAKER_00]: that the best goal to buy is the golden still in the ground. 16:09.443 --> 16:10.725 [SPEAKER_00]: Now, I don't know how much longer. 16:11.065 --> 16:14.872 [SPEAKER_00]: You see how much golden silver went up in such a short period of time? 16:15.112 --> 16:18.078 [SPEAKER_00]: Well, that's going to happen even bigger in the mighty stocks. 16:18.378 --> 16:25.470 [SPEAKER_00]: So, as fast as golden silver are going up right now, you're going to see a proportionate increase in the mighty stock. 16:25.490 --> 16:26.412 [SPEAKER_00]: So, get it! 16:26.392 --> 16:26.793 [SPEAKER_00]: Right? 16:26.973 --> 16:32.984 [SPEAKER_00]: My goal fund, EPG IX, if you want to buy that, the earliest you could buy it is tomorrow's close. 16:33.405 --> 16:35.308 [SPEAKER_00]: So you have to wait all day to get in. 16:35.649 --> 16:39.896 [SPEAKER_00]: But if you're just going to buy the individual stocks, you know, obviously you could buy them, you know, near the open. 16:40.718 --> 16:45.166 [SPEAKER_00]: The pattern has been, you know, they open higher, they sell off, they rally a bit to the close. 16:45.186 --> 16:46.348 [SPEAKER_00]: You know, there's this volatility. 16:46.669 --> 16:49.053 [SPEAKER_00]: But at one point, they're just going to go straight up, right? 16:49.073 --> 16:50.796 [SPEAKER_00]: There's going to be a wall of money. 16:50.776 --> 16:53.399 [SPEAKER_00]: trying to come in to the gold mining stocks. 16:53.419 --> 16:59.006 [SPEAKER_00]: And what are the reasons that so much money is going to go into gold silver and mining stocks happen today? 16:59.587 --> 17:11.342 [SPEAKER_00]: What Jerome Powell said today at that press conference should make everybody run as fast as they can to buy as much gold as they can right away, right? 17:11.582 --> 17:14.666 [SPEAKER_00]: Because what he said is very scary. 17:14.686 --> 17:18.471 [SPEAKER_00]: If you're in dollars and if you're in bonds and if you heard 17:18.451 --> 17:20.935 [SPEAKER_00]: But what Jerome Powell said, right? 17:21.296 --> 17:24.141 [SPEAKER_00]: It should scare the big Jesus out of you. 17:24.361 --> 17:29.070 [SPEAKER_00]: You should have zero confidence that this press is quick, commercial breaks. 17:29.090 --> 17:29.731 [SPEAKER_00]: So stick around. 17:29.771 --> 17:30.512 [SPEAKER_00]: We'll be right back. 17:30.893 --> 17:31.274 [SPEAKER_00]: All right. 17:31.594 --> 17:39.548 [SPEAKER_00]: Now before I go into what happens today with the Fed, I want to remind everybody or just get it out there before I forget. 17:40.118 --> 17:49.994 [SPEAKER_00]: Part one of my Tucker Carlson interview went live on Monday on Tucker's XX channel. 17:50.014 --> 17:57.486 [SPEAKER_00]: So if you haven't seen the interview, go there and watch it and you can give it a like and share it with people. 17:57.466 --> 18:01.471 [SPEAKER_00]: The reason I say it's part one is because, you know, it's about half the interview. 18:01.511 --> 18:07.859 [SPEAKER_00]: And it seems it cuts off kind of like in an abrupt way because, you know, it's not over. 18:08.320 --> 18:12.685 [SPEAKER_00]: At the end of the interview, you know, he thanked me, thank you's great, everything was so we say all that. 18:12.926 --> 18:13.827 [SPEAKER_00]: But none of that is there. 18:13.907 --> 18:15.749 [SPEAKER_00]: But it doesn't say part one. 18:15.849 --> 18:16.751 [SPEAKER_00]: It just is up there. 18:16.771 --> 18:22.778 [SPEAKER_00]: But I assume that the rest of it's going to come out at some point, you know, he just didn't say part one. 18:22.818 --> 18:24.561 [SPEAKER_00]: But what he posted is already there. 18:24.621 --> 18:26.443 [SPEAKER_00]: You got, you know, the first half. 18:26.423 --> 18:37.602 [SPEAKER_00]: And I know it's about half because we spoke for about two and a half hours, and what he posted, including his commercials that he inserted after the fact, is about an hour and 15 minutes. 18:38.003 --> 18:45.816 [SPEAKER_00]: So it's about half of the discussion, that is up there, but make sure and check it out. 18:45.796 --> 18:53.184 [SPEAKER_00]: But a lot of people, hopefully, that didn't know who I was, you know, because Tucker's got 17 million Twitter followers. 18:53.224 --> 18:55.066 [SPEAKER_00]: I've only got 1.3 million, right? 18:55.086 --> 18:57.528 [SPEAKER_00]: So he's got a much bigger platform than I do. 18:58.329 --> 19:01.773 [SPEAKER_00]: And so maybe there are some people that follow him that don't who I am. 19:01.873 --> 19:06.337 [SPEAKER_00]: And so hopefully they know who I am now and maybe they'll, you know, maybe they're tuning in now. 19:06.578 --> 19:11.142 [SPEAKER_00]: Maybe I got some Tucker fans who are listening to this podcast for the very first time. 19:11.222 --> 19:12.183 [SPEAKER_00]: So welcome. 19:12.203 --> 19:13.845 [SPEAKER_00]: Welcome to the 19:13.825 --> 19:18.180 [SPEAKER_00]: Anyway, so let me get to the press conference. 19:18.201 --> 19:22.957 [SPEAKER_00]: So first of all, the Fed left interest rates unchanged after three consecutive cuts. 19:23.760 --> 19:24.563 [SPEAKER_00]: That was expected. 19:24.583 --> 19:25.928 [SPEAKER_00]: There were two dissents. 19:26.465 --> 19:31.633 [SPEAKER_00]: You know, shocking who these guys were, but two people wanted to cut again, right? 19:31.654 --> 19:36.762 [SPEAKER_00]: But the rest of the board, uh, voted to stay where they are. 19:37.143 --> 19:46.939 [SPEAKER_00]: And of course, in his normal prepared remarks, Palo and all, about how good everything is, and how great the economy is, and they got everything under control. 19:47.359 --> 19:49.583 [SPEAKER_00]: And monetary policy is in a good place, right? 19:49.903 --> 19:50.665 [SPEAKER_00]: They're very happy. 19:50.685 --> 19:52.067 [SPEAKER_00]: They're very pleased. 19:52.047 --> 19:53.731 [SPEAKER_00]: with the work that they've done. 19:53.952 --> 19:56.418 [SPEAKER_00]: They think that everything is great, right? 19:56.438 --> 19:58.825 [SPEAKER_00]: And of course, they want to claim credit for that. 19:59.466 --> 20:03.998 [SPEAKER_00]: So the real gems come out in the Q&A, right? 20:04.957 --> 20:11.485 [SPEAKER_00]: And I mean, there are so many ridiculous things that were said, I only want to focus on the most ridiculous, right? 20:11.505 --> 20:16.611 [SPEAKER_00]: Because, you know, I don't want the podcast to go on and on and on, I got to get ready. 20:16.631 --> 20:19.695 [SPEAKER_00]: You know, I got, you know, flying as I said, I'll salvage or in the morning. 20:19.755 --> 20:21.197 [SPEAKER_00]: So, and I'm already tired. 20:21.257 --> 20:22.618 [SPEAKER_00]: I had a very long day. 20:23.399 --> 20:24.761 [SPEAKER_00]: I was doing a lot of interviews today. 20:24.901 --> 20:27.504 [SPEAKER_00]: Maybe if I look a little tired, that's why. 20:27.745 --> 20:30.508 [SPEAKER_00]: But anyway, so, 20:31.552 --> 20:34.862 [SPEAKER_00]: One of the first questions he got was on the dollar, right? 20:34.882 --> 20:37.510 [SPEAKER_00]: Which is, you know, just plunged to a four year low yesterday. 20:37.770 --> 20:40.077 [SPEAKER_00]: Oh, and by the way, I forgot to mention this. 20:41.201 --> 20:44.751 [SPEAKER_00]: But earlier in the day, before the FOMC decision, 20:46.520 --> 20:54.476 [SPEAKER_00]: Scott Bessant, Secretary of the Treasury, came out and said the U.S. is committed to a strong dollar. 20:54.937 --> 20:58.905 [SPEAKER_00]: They rolled out the strong dollar policy, right? 20:59.306 --> 21:04.617 [SPEAKER_00]: That started way back when I think Clinton was president, right? 21:05.619 --> 21:08.224 [SPEAKER_00]: We had this strong dollar policy. 21:08.693 --> 21:10.816 [SPEAKER_00]: Now, what was the strong dollar policy? 21:11.076 --> 21:15.322 [SPEAKER_00]: The strong dollar policy was reciting we have a strong dollar policy. 21:15.342 --> 21:17.044 [SPEAKER_00]: That was the extent of the policy, right? 21:17.064 --> 21:20.108 [SPEAKER_00]: It was just talking about the strong dollar. 21:20.148 --> 21:21.009 [SPEAKER_00]: That's all we had to do. 21:21.990 --> 21:30.682 [SPEAKER_00]: But I wrote about it even in my old books that it was like ridiculous because everything we were doing was weakening the dollar. 21:31.303 --> 21:38.532 [SPEAKER_00]: Despite our policy to have a strong dollar, I said it was like a kid who cuts class, 21:39.203 --> 21:42.009 [SPEAKER_00]: Smoke's dope doesn't do his homework, right? 21:42.570 --> 21:45.557 [SPEAKER_00]: And telling his parents, he has a straight A policy. 21:46.379 --> 21:48.684 [SPEAKER_00]: You know, okay, great, you have a straight A policy. 21:48.744 --> 21:53.735 [SPEAKER_00]: Well, you're not gonna get A's if you cut class, if you're always stoned and you don't do your homework, right? 21:54.076 --> 21:57.904 [SPEAKER_00]: Your policy is inconsistent with your actions. 21:58.255 --> 22:05.704 [SPEAKER_00]: Well, I can't think of policy that's more inconsistent with a strong dollar than what Trump is doing. 22:06.144 --> 22:09.989 [SPEAKER_00]: Yet somehow they thought, well, let's just roll that policy out. 22:10.329 --> 22:13.593 [SPEAKER_00]: Let's just say the US is committed to a strong dollar. 22:13.613 --> 22:15.215 [SPEAKER_00]: And the dollar actually rallied on that. 22:15.475 --> 22:16.856 [SPEAKER_00]: What it is, right? 22:16.897 --> 22:19.480 [SPEAKER_00]: But that's how the algorithms are programmed. 22:19.700 --> 22:21.922 [SPEAKER_00]: Oh, he said the strong dollar policy. 22:22.123 --> 22:23.484 [SPEAKER_00]: Oh, we better buy the dollar, right? 22:23.664 --> 22:24.946 [SPEAKER_00]: That's the whole policy. 22:25.326 --> 22:26.828 [SPEAKER_00]: It's bullshit. 22:26.808 --> 22:29.698 [SPEAKER_00]: Trump has a weak dollar policy. 22:30.520 --> 22:33.410 [SPEAKER_00]: He is jaw-boating the Fed to cut rates. 22:33.751 --> 22:35.497 [SPEAKER_00]: Do you think that's going to strengthen the dollar? 22:36.039 --> 22:37.283 [SPEAKER_00]: Slashing interest rates? 22:37.724 --> 22:38.607 [SPEAKER_00]: No. 22:39.059 --> 22:41.622 [SPEAKER_00]: what Trump wants will weaken the dollar. 22:42.523 --> 22:47.129 [SPEAKER_00]: By definition, Trump is running massive deficits. 22:47.149 --> 22:48.331 [SPEAKER_00]: He's running up the debt. 22:48.491 --> 22:50.113 [SPEAKER_00]: You think that's good for the dollar? 22:50.794 --> 22:52.215 [SPEAKER_00]: No, it's bad for the dollar. 22:53.016 --> 22:56.841 [SPEAKER_00]: Everything that Trump is doing is bad for the dollar. 22:56.861 --> 22:58.163 [SPEAKER_00]: That's why the dollar is going down. 22:58.563 --> 23:03.109 [SPEAKER_00]: You can't erase all that by just saying, whoa, we've got a strong dollar policy. 23:03.089 --> 23:03.890 [SPEAKER_00]: What the hell's that? 23:04.390 --> 23:13.060 [SPEAKER_00]: Now, the next time maybe, the Fed says we got, I mean, the Secretary of the Treasury says we got a strong dollar policy, maybe the dollar will go down. 23:13.080 --> 23:16.464 [SPEAKER_00]: You know, like the e-sub-fable, the boy who cried wolf, right? 23:16.524 --> 23:22.251 [SPEAKER_00]: Maybe if we roll out that strong dollar policy once too often, no one's going to believe us, right? 23:22.571 --> 23:23.913 [SPEAKER_00]: And the dollar is going to tank. 23:24.273 --> 23:25.274 [SPEAKER_00]: And it's going to tank. 23:25.795 --> 23:28.998 [SPEAKER_00]: Gold is telling you that the dollar is going to tank, right? 23:29.018 --> 23:30.480 [SPEAKER_00]: That's one of the messages. 23:30.460 --> 23:36.528 [SPEAKER_00]: Anyway, I'm going to get to that in a minute, but so let me just go back to the question that Palagot on the dollar, right? 23:36.588 --> 23:37.689 [SPEAKER_00]: Now I'm not making this up. 23:37.709 --> 23:41.334 [SPEAKER_00]: If you think I'm making it up, go to YouTube and watch the interview, right? 23:41.594 --> 23:43.477 [SPEAKER_00]: There's some people in my thing, I just know why he said that. 23:43.657 --> 23:44.518 [SPEAKER_00]: That's ridiculous. 23:44.699 --> 23:46.020 [SPEAKER_00]: He can't be that dumb. 23:46.040 --> 23:46.421 [SPEAKER_00]: He is. 23:46.701 --> 23:47.442 [SPEAKER_00]: He is that dumb. 23:47.502 --> 23:47.903 [SPEAKER_00]: Trust me. 23:50.486 --> 23:52.789 [SPEAKER_00]: So anyway, so... 23:53.157 --> 24:02.331 [SPEAKER_00]: The reporter said the dollar has been diving recently as falling a lot, are you concerned about this? 24:03.794 --> 24:08.341 [SPEAKER_00]: And what's behind it is it's something we should worry about. 24:08.381 --> 24:09.242 [SPEAKER_00]: So that's the question. 24:09.883 --> 24:11.887 [SPEAKER_00]: Are you concerned about the dollar going down? 24:12.888 --> 24:14.330 [SPEAKER_00]: He refused to answer the question. 24:14.631 --> 24:16.313 [SPEAKER_00]: He never said whether it was concerned. 24:16.334 --> 24:19.198 [SPEAKER_00]: He simply said, that's not my business. 24:19.297 --> 24:44.055 [SPEAKER_00]: right he says we don't you know the dollar that's not our belly week that's that's the secretary that's the treasury department he said it's not our role right he said that we do monetary policy you know we don't comment on the dollar and i'm like what the hell's this guy talking about what does he think the dollar is the dollars are money i mean looking at dollar bill take one out of your pocket 24:44.170 --> 24:46.595 [SPEAKER_00]: read what it's written on the very top. 24:47.316 --> 24:49.180 [SPEAKER_00]: It says federal reserve note. 24:49.441 --> 24:50.964 [SPEAKER_00]: He's the chairman of the Federal Reserve. 24:51.645 --> 24:52.867 [SPEAKER_00]: Those are federal reserve notes. 24:53.128 --> 24:54.170 [SPEAKER_00]: Those are his notes. 24:55.092 --> 24:56.515 [SPEAKER_00]: It says dollar on the bottom. 24:57.036 --> 24:57.517 [SPEAKER_00]: Right. 24:57.537 --> 24:59.941 [SPEAKER_00]: The Fed gets top billing over dollar. 25:00.322 --> 25:02.246 [SPEAKER_00]: But it's written on the same piece of paper. 25:02.747 --> 25:05.773 [SPEAKER_00]: So dollars are federal reserve notes. 25:05.973 --> 25:31.778 [SPEAKER_00]: issued by the fed he's the chairman of the fed and he can't comment on his own notes i mean what kind of nonsense is this what kind of crazy twilight zone world are we living in when he says that he can't comment on money he's just in charge of monetary policy well what's the monetary policy about if it's not about our money this is asked about and first of all he wasn't even asked to comment 25:31.758 --> 25:34.722 [SPEAKER_00]: about, you know, does he think the dollar should go up or down? 25:34.802 --> 25:36.905 [SPEAKER_00]: He wasn't asked to comment on the dollar policy. 25:37.225 --> 25:40.850 [SPEAKER_00]: He was just asked, was he concerned about dollar weakness? 25:41.411 --> 25:44.475 [SPEAKER_00]: Can he even, you know, express a concern? 25:45.016 --> 25:47.079 [SPEAKER_00]: Is he just supposed to ignore the value of the dollar? 25:47.359 --> 25:50.203 [SPEAKER_00]: How are you going to conduct monetary policy? 25:50.743 --> 25:54.188 [SPEAKER_00]: The Fed claims that it wants low inflation. 25:54.168 --> 25:57.892 [SPEAKER_00]: Well, if the dollar is tanking, you're not going to get low inflation. 25:58.292 --> 26:02.496 [SPEAKER_00]: If our money is losing value, that means prices are going up. 26:03.096 --> 26:07.200 [SPEAKER_00]: If the dollar is going down, it's going to cost more to import everything that we buy. 26:07.360 --> 26:11.084 [SPEAKER_00]: Does he not think that this is going to impact the prices? 26:11.684 --> 26:17.590 [SPEAKER_00]: If the dollar tanks and the price of everything we import goes up, does he think that's not going to show up in the CPI? 26:17.930 --> 26:22.875 [SPEAKER_00]: How can he not look at that? 26:23.125 --> 26:25.470 [SPEAKER_00]: Part of his job is to value the dollar. 26:26.071 --> 26:27.233 [SPEAKER_00]: I mean, think about it this way. 26:28.135 --> 26:32.784 [SPEAKER_00]: He claims that his mission is 2% inflation, right? 26:33.646 --> 26:40.560 [SPEAKER_00]: That means he wants to make sure that the dollar only loses 2% of his value every year and no more. 26:41.121 --> 26:45.049 [SPEAKER_00]: Okay, well then, how can he say I'm not concerned about the dollar? 26:45.485 --> 26:49.811 [SPEAKER_00]: How are you going to control the purchasing power of the dollar if the dollar is irrelevant? 26:50.252 --> 26:58.625 [SPEAKER_00]: If you pay no attention to it, if it doesn't matter to you, what the exchange rate is, that is ass-in-ine, he can't comment on it. 26:58.865 --> 27:02.811 [SPEAKER_00]: You know why he can't comment on it because he doesn't know, he's afraid to talk about it. 27:03.031 --> 27:11.003 [SPEAKER_00]: He doesn't want anybody to know that the dollar's taking, right, that defense is failing, that there's no way inflation is going to be 2%. 27:10.983 --> 27:13.226 [SPEAKER_00]: But the media lets him get away with this nonsense. 27:13.266 --> 27:21.538 [SPEAKER_00]: I might be the only one that could see the absurdity of somebody saying that our money has nothing to do with monetary policy. 27:22.279 --> 27:25.103 [SPEAKER_00]: I mean, it has everything to do with monetary policy. 27:25.343 --> 27:28.848 [SPEAKER_00]: It's the only thing that is relevant to monetary policy. 27:31.051 --> 27:35.117 [SPEAKER_00]: Now, just when you thought it couldn't get any stupider, 27:35.249 --> 27:36.511 [SPEAKER_00]: He got a question on goal. 27:36.611 --> 27:39.876 [SPEAKER_00]: Now, the gold question happened second to last, right? 27:39.896 --> 27:41.578 [SPEAKER_00]: It was the second to last one, right? 27:41.939 --> 27:46.946 [SPEAKER_00]: Somebody said gold and silver have been surging recently. 27:46.986 --> 27:53.396 [SPEAKER_00]: And the reporter said, are you watching this, paying attention? 27:53.516 --> 28:02.910 [SPEAKER_00]: Is there any message that is being sent by the precious metal's market that maybe you should pay attention to? 28:03.329 --> 28:08.357 [SPEAKER_00]: And pal basically said, no, absolutely not, you know, like, we don't care. 28:08.397 --> 28:09.900 [SPEAKER_00]: We don't pay attention to it. 28:09.960 --> 28:11.462 [SPEAKER_00]: We don't think it has any relevance. 28:11.502 --> 28:14.968 [SPEAKER_00]: So we don't care what happens to the price of coal. 28:15.889 --> 28:19.796 [SPEAKER_00]: Now, gold is a monetary medal. 28:20.517 --> 28:24.343 [SPEAKER_00]: It is the most important monetary medal in the world. 28:25.285 --> 28:29.151 [SPEAKER_00]: He said that he is in charge of monetary policy. 28:29.789 --> 28:34.536 [SPEAKER_00]: Well, isn't a monetary medal relevant to monetary policy? 28:35.418 --> 28:36.319 [SPEAKER_00]: How could it not be? 28:36.359 --> 28:40.025 [SPEAKER_00]: Yet according to Powell, he doesn't care. 28:40.065 --> 28:41.287 [SPEAKER_00]: It means nothing. 28:41.688 --> 28:42.809 [SPEAKER_00]: Go go to 10,000. 28:42.849 --> 28:44.492 [SPEAKER_00]: Go to go twice on the matter, Powell. 28:45.253 --> 28:47.697 [SPEAKER_00]: How could it not matter? 28:48.352 --> 28:51.957 [SPEAKER_00]: You know, I pointed this out on his podcast. 28:51.977 --> 29:02.069 [SPEAKER_00]: But when Alan Greenspan was fed share, same job as Powell, he said gold was the most important indicator that he looks at. 29:03.571 --> 29:10.680 [SPEAKER_00]: He said that we're not on a gold standard, but we're on the next best thing because he uses gold to guide his decisions. 29:11.335 --> 29:16.267 [SPEAKER_00]: He said gold is how he knows if he's got the right monetary policy. 29:16.347 --> 29:25.629 [SPEAKER_00]: If he's too loose or too tight, he said if gold is getting above 400, I know we're too easy and we need higher rates. 29:26.331 --> 29:29.057 [SPEAKER_00]: He said if gold falls below 300, 29:29.037 --> 29:30.079 [SPEAKER_00]: then I'm too tight. 29:30.159 --> 29:30.960 [SPEAKER_00]: We need lower rates. 29:30.980 --> 29:34.085 [SPEAKER_00]: Now it shows you, you know, gold is 5500 now, right? 29:34.386 --> 29:37.170 [SPEAKER_00]: It's 10 times higher, more than 10 times higher. 29:37.451 --> 29:38.332 [SPEAKER_00]: What does that tell you? 29:38.533 --> 29:41.297 [SPEAKER_00]: Monterey policy has been too loose for too long. 29:41.898 --> 29:55.821 [SPEAKER_00]: But the point I'm making here is that a prior Fed chairman said gold was his most important economic indicator as to the efficacy of Fed policy. 29:55.801 --> 30:18.383 [SPEAKER_00]: a check on whether or not he was doing his job right it was the free market you know check on the central bankers did you get interest rates right or wrong because the central banks are just picking interest rates right it's not the market so what what feedback do you have how do you know if you're a fed if you're the fed and you you said interest rates how do you know that you got it right 30:18.363 --> 30:22.188 [SPEAKER_00]: Well what Greenspan said is we know because I look at gold. 30:22.208 --> 30:26.214 [SPEAKER_00]: Gold is the free market's way of telling me whether I got it right or wrong. 30:26.234 --> 30:35.948 [SPEAKER_00]: Now here you have a drone pal in the exact same job that Greenspan have and he says he couldn't give a shit. 30:36.168 --> 30:36.789 [SPEAKER_00]: He doesn't care. 30:36.829 --> 30:38.271 [SPEAKER_00]: He doesn't look at gold at all. 30:39.032 --> 30:40.995 [SPEAKER_00]: Now what are these guys as wrong? 30:41.549 --> 30:41.829 [SPEAKER_00]: Right? 30:42.631 --> 30:49.222 [SPEAKER_00]: Powell says gold is irrelevant, Greenspan said it was the most important, you know, signal he had. 30:49.703 --> 30:50.204 [SPEAKER_00]: Who's right? 30:50.845 --> 30:51.065 [SPEAKER_00]: Right? 30:51.286 --> 30:54.972 [SPEAKER_00]: Because they were both fed chairman, they're both supposed to be so great, right? 30:54.992 --> 30:57.657 [SPEAKER_00]: They're supposed to be, you know, the gods of the economy, right? 30:57.677 --> 31:04.789 [SPEAKER_00]: They're all knowing and all powerful fed chairman, yet they have diametrically opposed positions on the exact same thing. 31:05.107 --> 31:07.751 [SPEAKER_00]: Now, I side with Greenspan, right? 31:07.771 --> 31:08.993 [SPEAKER_00]: Greenspan had it right. 31:09.494 --> 31:10.456 [SPEAKER_00]: Gold is important. 31:11.397 --> 31:14.242 [SPEAKER_00]: Powell just doesn't understand how important it is. 31:15.284 --> 31:19.270 [SPEAKER_00]: Gold, soaring, is saying, you got it wrong. 31:19.531 --> 31:21.774 [SPEAKER_00]: You better hike race ASAP. 31:22.195 --> 31:23.738 [SPEAKER_00]: Rates are much too low. 31:24.319 --> 31:26.963 [SPEAKER_00]: In fact, the whole time gold's been going up. 31:27.297 --> 31:45.981 [SPEAKER_00]: to from 2000 to 3000 to 4,000 to 5,000 gold's been screaming you're too easy you're too loose you got to tighten up yet what did the fed do they loosened into gold's warning that they were already too loose by the way you'll notice 31:45.961 --> 31:52.193 [SPEAKER_00]: I did the Tucker Carlson interview less than a month ago, the price of gold was 4,000. 31:52.754 --> 31:54.698 [SPEAKER_00]: It's 5,500 by the now. 31:55.199 --> 31:57.925 [SPEAKER_00]: That's how fast it's moving up. 31:59.407 --> 32:00.950 [SPEAKER_00]: This is a big, big deal. 32:01.431 --> 32:06.822 [SPEAKER_00]: This is just not a little move, but Paul could not care less. 32:06.886 --> 32:07.407 [SPEAKER_00]: about it. 32:08.007 --> 32:09.610 [SPEAKER_00]: It's like, you know, you're a fireman. 32:10.230 --> 32:13.775 [SPEAKER_00]: And someone tells you, hey, there's this, you know, the house is a big fire. 32:14.376 --> 32:16.218 [SPEAKER_00]: And, you know, you're just, oh, I don't care. 32:16.539 --> 32:16.979 [SPEAKER_00]: Not big deal. 32:16.999 --> 32:17.620 [SPEAKER_00]: Let it burn. 32:18.181 --> 32:21.705 [SPEAKER_00]: I mean, how much clearer could the warning be? 32:21.746 --> 32:25.010 [SPEAKER_00]: The dollar is going to collapse. 32:25.831 --> 32:26.492 [SPEAKER_00]: Gold is telling you. 32:26.532 --> 32:31.999 [SPEAKER_00]: Now, pal, you know, did say in the same response where gold means nothing, right? 32:34.055 --> 32:41.551 [SPEAKER_00]: he said some people might argue that gold going up represents some kind of loss of confidence. 32:41.571 --> 32:43.775 [SPEAKER_00]: Yeah, some people get the smart people, right? 32:43.795 --> 32:45.359 [SPEAKER_00]: There's a lot of people that know this, right? 32:45.579 --> 32:54.257 [SPEAKER_00]: So he said some people might jump to the wrong conclusion that there's some loss of confidence, but he said, that's not true. 32:54.997 --> 33:01.123 [SPEAKER_00]: And he said, the reason I know it's not true is because I'm looking at the bond market and the bond market is well behaved. 33:01.504 --> 33:05.989 [SPEAKER_00]: And if there really was a loss of confidence, bond prices would be falling. 33:07.430 --> 33:08.932 [SPEAKER_00]: Yes, they will be falling. 33:09.693 --> 33:18.802 [SPEAKER_00]: But the loss of confidence is being expressed first in gold and now silver, because those are the most sensitive. 33:19.523 --> 33:22.506 [SPEAKER_00]: Just like with the financial crisis, 33:22.486 --> 33:36.357 [SPEAKER_00]: subprime blew up before the rest of the mortgage market because it was the most sensitive and that's why when the Fed said don't worry about subprime it's contained right it wasn't contained I knew it wasn't contained. 33:36.738 --> 33:38.742 [SPEAKER_00]: I knew it was gonna spread to the rest of the mortgage market. 33:39.023 --> 33:42.250 [SPEAKER_00]: So what what power is basically saying is 33:42.230 --> 33:43.691 [SPEAKER_00]: Gold and silver are contained. 33:43.832 --> 33:44.592 [SPEAKER_00]: Don't worry about it. 33:44.792 --> 33:46.174 [SPEAKER_00]: It's not a loss of confidence. 33:46.234 --> 33:47.695 [SPEAKER_00]: It's contained in gold and silver. 33:48.156 --> 33:49.277 [SPEAKER_00]: No, it's not contained. 33:49.797 --> 33:51.839 [SPEAKER_00]: Gold and silver are just moving first. 33:52.300 --> 33:53.581 [SPEAKER_00]: That's your warning sign. 33:54.342 --> 33:56.744 [SPEAKER_00]: You're going to see a crash in the bond market. 33:57.024 --> 34:05.612 [SPEAKER_00]: But of course, by the time the bond market crashes, well, just too late to do anything about it, it's too late to preemptively do something to prevent the crash. 34:06.073 --> 34:06.974 [SPEAKER_00]: Oh, it's already happened. 34:07.514 --> 34:10.617 [SPEAKER_00]: You can't stop the horses 34:10.597 --> 34:16.903 [SPEAKER_00]: Close the barn doors when the horses are long gone, but that's what Powell wants to do. 34:16.963 --> 34:21.488 [SPEAKER_00]: He wants to wait till every horse is gone to say, okay, like, yeah, we better shut those doors. 34:21.748 --> 34:24.551 [SPEAKER_00]: What good is that going to do you? 34:24.571 --> 34:31.258 [SPEAKER_00]: And meanwhile, there already is some evidence that the bond market is not right, because yields are about four and a quarter and a ten year. 34:31.718 --> 34:34.060 [SPEAKER_00]: They were four before the last rate cut. 34:34.621 --> 34:39.726 [SPEAKER_00]: In fact, the Fed has cut rates now, I think six times. 34:39.706 --> 34:45.232 [SPEAKER_00]: treasuries are quite a bit higher over a hundred basis points higher than they were before the first cut. 34:46.013 --> 34:48.596 [SPEAKER_00]: So the Fed was not able to lower long-term rates. 34:49.277 --> 34:52.261 [SPEAKER_00]: That's already a sign that confidence is being lost. 34:52.281 --> 35:00.090 [SPEAKER_00]: But you can't wait until it's completely lost and there's a bond market crash to think, oh, maybe I should do something because it's too late. 35:00.911 --> 35:02.693 [SPEAKER_00]: And the same thing with the dollar. 35:03.331 --> 35:05.233 [SPEAKER_00]: up, but that is exactly what is happening. 35:05.974 --> 35:10.119 [SPEAKER_00]: Central banks are moving out of the dollar, right? 35:10.139 --> 35:12.862 [SPEAKER_00]: They are replacing it with gold, right? 35:13.283 --> 35:21.993 [SPEAKER_00]: Gold, you know, just like the US went off the gold standard, the world is going back on. 35:22.774 --> 35:26.398 [SPEAKER_00]: The world is going off the dollar standard. 35:26.418 --> 35:30.823 [SPEAKER_00]: Now they should have done it a long time ago, but they're doing it now. 35:31.748 --> 35:36.594 [SPEAKER_00]: And it's not a coincidence that they're doing it now, because look at what Donald Trump has done. 35:37.195 --> 35:43.424 [SPEAKER_00]: He finally gave the world a reason to do what they should have done anyway, right? 35:43.444 --> 35:48.630 [SPEAKER_00]: Trump has antagonized the entire world and united the world against the United States. 35:49.251 --> 35:53.517 [SPEAKER_00]: We have vilified all of the people who have been propping us up. 35:53.557 --> 35:56.040 [SPEAKER_00]: We have bit every hand that has been feeding us. 35:56.401 --> 35:59.545 [SPEAKER_00]: We've been talking about how we're the most important economy in the world. 35:59.525 --> 36:25.060 [SPEAKER_00]: We're the strongest economy, we can invade who we want, we can take what we want because we've got this big military and everybody owes us, everybody should pay for the privilege of doing business with us, everybody should pay tariffs, if you want to sell products to America, you better pay, we're going to have external revenue, we're going to tax the whole world, the world is going to bow down to us, you know, you think the world wants to be told this 36:25.040 --> 36:26.663 [SPEAKER_00]: I mean, he's a hypocrite too. 36:26.784 --> 36:31.674 [SPEAKER_00]: I mean, the US is far from an example of fiscal responsibility. 36:31.694 --> 36:33.537 [SPEAKER_00]: We got the biggest deficits of anybody. 36:33.798 --> 36:37.485 [SPEAKER_00]: We're running these huge trade deficits, huge budget deficits, who are we to talk? 36:37.846 --> 36:38.027 [SPEAKER_00]: Right? 36:38.067 --> 36:41.894 [SPEAKER_00]: When you live in a glass White House, you can't be throwing stones at everybody else. 36:43.117 --> 36:45.141 [SPEAKER_00]: And so the world is fighting back. 36:45.121 --> 36:50.933 [SPEAKER_00]: You know, our closest allies are now aligned with our supposed enemies, and this is it. 36:51.234 --> 37:03.079 [SPEAKER_00]: This whole thing is unraveling, just like I said, I didn't know exactly when it was going to happen, obviously, but I knew it was going to happen because I understood what was inevitable. 37:03.228 --> 37:04.350 [SPEAKER_00]: and now it's happening. 37:04.470 --> 37:20.617 [SPEAKER_00]: And again, if you haven't read the real crash, which I wrote in 2013, get a copy on Amazon if they're still around and read it because it is more relevant now than it was 12 years ago, because what I wrote about is happening now. 37:21.519 --> 37:25.686 [SPEAKER_00]: It I didn't think when I wrote the book that it was going to take this long. 37:26.287 --> 37:28.611 [SPEAKER_00]: But you know what, at this point, it doesn't matter. 37:29.148 --> 37:35.234 [SPEAKER_00]: because everybody that's followed my advice is prepared and they're gonna make a ton of money. 37:35.895 --> 37:37.016 [SPEAKER_00]: They are making a ton of money. 37:37.856 --> 37:41.700 [SPEAKER_00]: In fact, I've already now making up for 10 years of underperformance. 37:41.760 --> 37:44.623 [SPEAKER_00]: I mean, my strategy is beating the S&P now for the past 10 years. 37:44.943 --> 37:48.186 [SPEAKER_00]: Wait till next year, it'll be beating it for the past 20 years, right? 37:48.427 --> 37:48.967 [SPEAKER_00]: Doesn't matter. 37:49.588 --> 37:54.953 [SPEAKER_00]: It doesn't matter that last year, I was behind the S&P because I caught up and I passed it. 37:55.473 --> 38:05.935 [SPEAKER_00]: And the important part about positioning people early is that at least I got your position, because most people are not gonna be positioned at all. 38:07.057 --> 38:13.009 [SPEAKER_00]: So yes, I saw the disaster coming from a mile away and I got people prepared too early. 38:13.900 --> 38:22.181 [SPEAKER_00]: and you know what's been the most difficult part of my job for the past 10 years was keep a people on board, keeping people from throwing away a winning hand. 38:22.883 --> 38:24.807 [SPEAKER_00]: I knew that we would win. 38:25.409 --> 38:29.479 [SPEAKER_00]: I knew that at the end of the day, everybody's chips would be in front of us. 38:29.459 --> 38:36.111 [SPEAKER_00]: I knew everybody was going to go home broke and we were going to beat the game because I knew what the rest of the investors didn't know. 38:36.312 --> 38:41.542 [SPEAKER_00]: I understood the problems and how they were going to ultimately manifest. 38:42.143 --> 38:43.826 [SPEAKER_00]: I knew the government would do everything wrong. 38:44.527 --> 38:51.400 [SPEAKER_00]: Now, I'm not happy that the government did everything wrong, but because I knew they would do everything wrong, that's what I bet. 38:51.599 --> 39:00.329 [SPEAKER_00]: Now, of course, the whole time I was betting on the Fed and the government doing everything wrong, I was advocating that they do everything right. 39:00.689 --> 39:11.280 [SPEAKER_00]: I was critical of all the policies that were going to make me rich and that we're going to make my clients rich because I didn't want the government to destroy the country. 39:12.382 --> 39:20.070 [SPEAKER_00]: I did everything I could to prevent it, but it didn't matter. 39:20.540 --> 39:30.118 [SPEAKER_00]: But I did have the power to profit from it because there's either two choices, the country's going to collapse and I can either go broke with everybody else or make money. 39:30.739 --> 39:33.704 [SPEAKER_00]: And if those are my two choices, I choose making money, right? 39:34.085 --> 39:34.546 [SPEAKER_00]: What the hell? 39:34.606 --> 39:34.746 [SPEAKER_00]: Right? 39:34.766 --> 39:35.528 [SPEAKER_00]: Better than losing it. 39:36.409 --> 39:37.812 [SPEAKER_00]: And it was difficult. 39:38.253 --> 39:39.595 [SPEAKER_00]: And the hardest part, 39:40.300 --> 39:52.973 [SPEAKER_00]: was late last year, late 2024, right after Trump won, early 2025, I've said record amounts of people pulling their money out of my accounts right before the best year I've ever had. 39:53.573 --> 39:55.315 [SPEAKER_00]: And this year is going to be better than last year. 39:55.475 --> 39:57.057 [SPEAKER_00]: This is already the best January. 39:57.077 --> 40:00.180 [SPEAKER_00]: Gold is up like 30% in January. 40:01.681 --> 40:04.904 [SPEAKER_00]: We have a couple of days left, silver is up over 60%. 40:05.645 --> 40:08.468 [SPEAKER_00]: Look, now Gold's up 103 dollars. 40:08.448 --> 40:09.149 [SPEAKER_00]: It said 5517. 40:09.309 --> 40:12.052 [SPEAKER_00]: I mean, we just hit 5,000. 40:12.232 --> 40:16.056 [SPEAKER_00]: We're 10% higher than 5,000, 5500. 40:17.037 --> 40:18.458 [SPEAKER_00]: And silver is above 118. 40:18.498 --> 40:25.946 [SPEAKER_00]: I mean, go, I mean, it seems like just yesterday, I was telling people to buy $30 silver. 40:26.146 --> 40:27.007 [SPEAKER_00]: And it almost was. 40:27.727 --> 40:38.438 [SPEAKER_00]: It's almost $120 an ounce. 40:38.823 --> 40:39.890 [SPEAKER_00]: How much this means? 40:40.112 --> 40:41.179 [SPEAKER_00]: He thinks it means nothing. 40:41.360 --> 40:43.011 [SPEAKER_00]: It means everything. 40:43.396 --> 40:52.109 [SPEAKER_00]: It means everything, and he's gonna find out, look, just like they had no idea what was coming after the blow up a subprime. 40:52.389 --> 41:00.581 [SPEAKER_00]: I knew exactly what was gonna happen, because I knew what the problem was, and I knew that the first sign would be subprime. 41:01.142 --> 41:05.067 [SPEAKER_00]: And when they were saying it was contained, I was saying it's a tip of an iceberg. 41:05.548 --> 41:07.291 [SPEAKER_00]: I knew what was beneath the surface. 41:07.831 --> 41:12.458 [SPEAKER_00]: If nobody else had a clue, 41:12.742 --> 41:16.660 [SPEAKER_00]: What's happening in gold and silver is the tip of an even bigger iceberg. 41:17.416 --> 41:22.301 [SPEAKER_00]: And, you know, the mainstream is gonna be just as surprised. 41:22.561 --> 41:23.342 [SPEAKER_00]: You know what they're gonna say? 41:23.542 --> 41:25.183 [SPEAKER_00]: Well, nobody could have predicted this. 41:25.564 --> 41:26.945 [SPEAKER_00]: Nobody could have seen this coming. 41:26.965 --> 41:28.867 [SPEAKER_00]: Oh my God, what a black swan, this one. 41:29.027 --> 41:30.248 [SPEAKER_00]: This was in a black swan. 41:30.588 --> 41:34.172 [SPEAKER_00]: This was a big, fat, white swan, right? 41:34.452 --> 41:40.137 [SPEAKER_00]: It's just that if you don't know what a swan looks like, you know, if it's seen a swan, then you know, maybe you had no idea what was going on. 41:40.558 --> 41:46.123 [SPEAKER_00]: But this was the most obvious crisis hiding in plain sight. 41:46.103 --> 41:49.087 [SPEAKER_00]: talk about like an elephant in the living room, right? 41:49.107 --> 41:58.539 [SPEAKER_00]: This was not just an elephant, it was like a dinosaur in, you know, in, you know, in, you know, in a, in like, not even a living room, like in the den, like in a, I mean, and you still couldn't see it. 41:59.600 --> 42:06.829 [SPEAKER_00]: Now, the good news is, despite all of this, you could still profit from it. 42:07.366 --> 42:11.071 [SPEAKER_00]: The goal mining stocks are cheaper than I've ever been. 42:11.132 --> 42:16.920 [SPEAKER_00]: The price is not lower than they've ever been, but the valuations are, so you can buy. 42:17.741 --> 42:20.105 [SPEAKER_00]: If you don't have enough, buy tomorrow. 42:20.485 --> 42:23.269 [SPEAKER_00]: You can get into my goal fund, EPG IX. 42:23.390 --> 42:27.375 [SPEAKER_00]: I mean, because we've got all these small companies that have really not moved that much. 42:28.016 --> 42:28.737 [SPEAKER_00]: What a bargain. 42:28.998 --> 42:31.742 [SPEAKER_00]: We've got some private deals that we did. 42:31.922 --> 42:35.888 [SPEAKER_00]: We've got words that have a lot of value that are priced at zero. 42:35.868 --> 42:38.213 [SPEAKER_00]: So, you know, it's a gift, right? 42:38.453 --> 42:43.843 [SPEAKER_00]: So you want to get in to the fun EPG IX, tell your friends, right? 42:43.923 --> 42:47.671 [SPEAKER_00]: If you've already all in on my strategy, great. 42:47.791 --> 42:48.673 [SPEAKER_00]: You're in great shape. 42:48.953 --> 42:50.837 [SPEAKER_00]: What about your relatives, right? 42:51.117 --> 42:52.560 [SPEAKER_00]: Your family members. 42:52.540 --> 42:56.630 [SPEAKER_00]: your coworkers, your friends, you know, are you going to let them go broke? 42:57.191 --> 42:57.712 [SPEAKER_00]: Don't do it. 42:58.133 --> 43:00.138 [SPEAKER_00]: Why would you want to do that, right? 43:00.158 --> 43:05.390 [SPEAKER_00]: As I said, I think on my last podcast, you don't want to be the only person in your family that has any money. 43:05.932 --> 43:11.224 [SPEAKER_00]: You don't want to be the only person in your friend group that didn't go bankrupt, because that wasn't going to do, right? 43:11.204 --> 43:14.749 [SPEAKER_00]: I mean, you can just do everything by yourself, or you're gonna pick up the check for everybody else. 43:15.190 --> 43:20.498 [SPEAKER_00]: And you know, when people find out that you got gold and silver, you got mining stocks, right? 43:20.658 --> 43:24.143 [SPEAKER_00]: You got an account with Peter Schiff, and they're broke, what are they gonna do? 43:24.163 --> 43:26.747 [SPEAKER_00]: They're gonna be calling you up, they're gonna be acid for loans, right? 43:26.787 --> 43:30.232 [SPEAKER_00]: Everybody you know is gonna be trying to borrow money for you and mooch off you. 43:30.713 --> 43:31.354 [SPEAKER_00]: What are you gonna do? 43:32.135 --> 43:35.760 [SPEAKER_00]: But if you can make sure that the people that you care about, 43:36.179 --> 43:41.685 [SPEAKER_00]: are also gonna be rich or gonna preserve their wealth, but you're not gonna have to loan them any money, right? 43:42.126 --> 43:44.108 [SPEAKER_00]: So you don't have a lot of time, right? 43:44.869 --> 43:45.950 [SPEAKER_00]: To get this done, right? 43:45.970 --> 43:48.473 [SPEAKER_00]: I don't know how much time do you have a week? 43:48.493 --> 43:49.274 [SPEAKER_00]: Do you have a month? 43:49.494 --> 43:50.235 [SPEAKER_00]: Do you have a year? 43:50.895 --> 43:52.577 [SPEAKER_00]: I don't know, right? 43:52.898 --> 43:58.424 [SPEAKER_00]: But gold is telling you, silver is telling you, time is running out. 43:59.225 --> 44:01.427 [SPEAKER_00]: And so you gotta act. 44:01.593 --> 44:31.093 [SPEAKER_00]: right because if you don't you can't you know turn back the clock right once the dollar completely implodes you can't buy any gold and silver anymore with your dollars right so you got to move you got to get into these foreign stocks look what's happening to my foreign stock funds look at my dividend payer fund that was up 62% last year it's already up probably another I don't know 13 14% this year in January you're talking about 44:31.343 --> 44:34.048 [SPEAKER_00]: in a year, in a dividend paying fund? 44:35.992 --> 44:38.638 [SPEAKER_00]: This tells you, have I ever seen that fund do that before? 44:38.698 --> 44:40.181 [SPEAKER_00]: No, right? 44:41.082 --> 44:45.672 [SPEAKER_00]: And this is not just one off event, but you could just say, well, it just happened one time. 44:46.112 --> 44:47.395 [SPEAKER_00]: It's too big. 44:47.560 --> 44:48.962 [SPEAKER_00]: to be insignificant. 44:49.163 --> 44:56.255 [SPEAKER_00]: When you get moves of this magnitude in the financial market, this is a major change. 44:56.776 --> 44:58.519 [SPEAKER_00]: The momentum has turned. 44:58.860 --> 45:03.187 [SPEAKER_00]: The trend should continue for years and years and years. 45:03.468 --> 45:06.734 [SPEAKER_00]: Look how many years the U.S. market outperformed the rest of the world. 45:07.275 --> 45:09.519 [SPEAKER_00]: That's how many years it's going to underperform. 45:10.140 --> 45:12.083 [SPEAKER_00]: And the dollar cycles. 45:12.350 --> 45:14.432 [SPEAKER_00]: happen over extended periods of time. 45:15.233 --> 45:16.454 [SPEAKER_00]: This is a new cycle. 45:16.735 --> 45:26.365 [SPEAKER_00]: When the dollar hits a new all-time record low against this was Frank, that is the beginning of a new downturn in the dollar. 45:26.745 --> 45:30.610 [SPEAKER_00]: That is going to go on for many, many years if not a decade. 45:31.230 --> 45:34.173 [SPEAKER_00]: And we're still early in this decline. 45:34.454 --> 45:36.636 [SPEAKER_00]: The dollar index is 96. 45:36.616 --> 45:38.058 [SPEAKER_00]: The record low is 70. 45:38.559 --> 45:44.669 [SPEAKER_00]: I bet we break that record low by next year and then go to 50 or 40 or maybe lower. 45:45.931 --> 45:48.796 [SPEAKER_00]: We're going to make new lows in the dollar by far. 45:49.397 --> 45:52.562 [SPEAKER_00]: So, yeah, you know, it's still early in that respect. 45:53.283 --> 45:53.764 [SPEAKER_00]: Now, 45:54.824 --> 45:58.429 [SPEAKER_00]: is it as good as doing it last year? 45:58.609 --> 46:01.954 [SPEAKER_00]: No, okay, well, but it's better than not doing it at all. 46:02.495 --> 46:08.403 [SPEAKER_00]: And you know, basically, if you stayed in the US stock market the last 10 years, you're still did pretty good, right? 46:08.764 --> 46:15.594 [SPEAKER_00]: Even if you ignored my advice, even though you would have been better off following my advice, you still just don't make dollars, right? 46:15.614 --> 46:16.315 [SPEAKER_00]: You're still ahead. 46:16.795 --> 46:21.422 [SPEAKER_00]: Oh, and by the way, you know, the S&P made a new high today, but not the Dow, right? 46:21.442 --> 46:22.924 [SPEAKER_00]: The Dow didn't quite make a new high. 46:24.608 --> 46:29.316 [SPEAKER_00]: But the media Donald Trump, I think, was posting about the new record high in this stock market. 46:30.378 --> 46:34.605 [SPEAKER_00]: The Dow Jones today fell to just nine ounces of gold. 46:35.246 --> 46:40.896 [SPEAKER_00]: Nine ounces of gold buys you the entire Dow Jones and 46:41.129 --> 46:44.998 [SPEAKER_00]: I think the last time the Dow was this low, right? 46:45.038 --> 46:48.225 [SPEAKER_00]: This cheap in terms of gold was 2013. 46:49.468 --> 46:57.265 [SPEAKER_00]: So the Dow actually sunk to a 12 year low today if you price it in real money. 46:57.683 --> 47:04.953 [SPEAKER_00]: Yeah, if you price it in federal reserve notes, that the Federal Reserve doesn't care about, thinks it's none of its business. 47:05.514 --> 47:08.739 [SPEAKER_00]: If you price it in federal reserve notes, yes, it's at a record high. 47:09.219 --> 47:13.385 [SPEAKER_00]: But if you price it in gold, it's at a 12 year low. 47:13.926 --> 47:19.033 [SPEAKER_00]: In fact, if you price the Dow Jones in gold, it's almost 80%. 47:19.013 --> 47:22.579 [SPEAKER_00]: lower than it was at its peak in 1999. 47:24.202 --> 47:24.543 [SPEAKER_00]: What's that? 47:24.563 --> 47:25.825 [SPEAKER_00]: 27 years ago? 47:26.486 --> 47:27.688 [SPEAKER_00]: Down 80% right? 47:29.652 --> 47:34.521 [SPEAKER_00]: That is a major, major secular bear market. 47:34.781 --> 47:38.367 [SPEAKER_00]: Probably one of the biggest bear markets we've ever experienced in this country. 47:38.788 --> 47:40.431 [SPEAKER_00]: Yet nobody knows it. 47:40.563 --> 47:41.725 [SPEAKER_00]: right? 47:41.745 --> 47:44.109 [SPEAKER_00]: Because inflation hides it. 47:44.150 --> 47:50.902 [SPEAKER_00]: That's one of the reasons that the government loves inflation, because it creates the illusion of prosperity even as you are going broke. 47:52.144 --> 47:59.297 [SPEAKER_00]: So you still have the opportunity to get out of dollars, get out of Bitcoin again. 47:59.598 --> 48:06.345 [SPEAKER_00]: Bitcoin is in 125,000, but 89,088,500 actually is going down more. 48:06.946 --> 48:09.769 [SPEAKER_00]: That's still a pretty high price for Bitcoin, right? 48:09.789 --> 48:13.092 [SPEAKER_00]: Somebody that's worthless, and you can sell it to some idiot for $88,500. 48:13.213 --> 48:15.015 [SPEAKER_00]: Do it, right? 48:16.476 --> 48:24.405 [SPEAKER_00]: And think about how much money you've lost sitting on Bitcoin for the last year while gold and silver have soared, right? 48:25.185 --> 48:29.470 [SPEAKER_00]: Bitcoin is melting down in terms of gold and silver. 48:29.787 --> 48:32.811 [SPEAKER_00]: But, you know, that is kind of been a slow melt. 48:32.831 --> 48:35.335 [SPEAKER_00]: It's gonna turn into a fast burn, right? 48:35.355 --> 48:39.722 [SPEAKER_00]: So before that happens, before they really turn up the heat, get the hell out. 48:40.843 --> 48:46.552 [SPEAKER_00]: Yes, sure, yeah, you know, it was a big bubble and I warned about it too early. 48:46.852 --> 48:48.795 [SPEAKER_00]: Yeah, I warned about everything too early. 48:49.336 --> 48:50.738 [SPEAKER_00]: That's the problem, right? 48:51.098 --> 48:57.668 [SPEAKER_00]: I see everything early because if you understand something, you understand it right away. 48:58.002 --> 48:58.262 [SPEAKER_00]: Right? 48:58.963 --> 49:02.488 [SPEAKER_00]: Now, if I know something is going to happen, right? 49:03.089 --> 49:04.491 [SPEAKER_00]: I don't know when it's going to happen, right? 49:04.531 --> 49:05.913 [SPEAKER_00]: I'm not a God, right? 49:06.354 --> 49:07.436 [SPEAKER_00]: I'm not clairvoyant. 49:08.197 --> 49:09.779 [SPEAKER_00]: I just think clearly. 49:10.280 --> 49:16.669 [SPEAKER_00]: You know, maybe I got a few screws loose somewhere, but I'm able to see 49:16.919 --> 49:21.865 [SPEAKER_00]: what's obvious to me, but that's not obvious to others, right? 49:21.885 --> 49:28.792 [SPEAKER_00]: Other people are more susceptible, I think, to popular delusions and the madness of crowds, of group think. 49:29.173 --> 49:41.847 [SPEAKER_00]: I'm kind of, you know, a square, pegging around whole, um, I kind of just don't, you know, go with the flow, um, and, and so things occurred to me. 49:42.518 --> 49:45.863 [SPEAKER_00]: that don't necessarily occur to the masses, until after the fact. 49:46.023 --> 49:53.194 [SPEAKER_00]: Yes, things that are obvious to me in foresight, only become obvious to most people in hindsight. 49:54.235 --> 50:00.084 [SPEAKER_00]: So yes, was I early in calling up Bitcoin as a pyramid, as a Ponzi, as a bubble? 50:00.104 --> 50:01.426 [SPEAKER_00]: Yeah, because it got really big. 50:02.307 --> 50:11.901 [SPEAKER_00]: But just like I was right on gold early and gold is now blowing up, I was right on Bitcoin early 50:12.607 --> 50:21.501 [SPEAKER_00]: So get out, right, there's this, you know, because all the people that got into the ETFs, they're gonna get out, who's gonna buy nobody. 50:22.122 --> 50:31.057 [SPEAKER_00]: Michael Salor doesn't have the buying power to prop up the entire market single handedly, although he's trying, but he will go bankrupt in the process. 50:31.097 --> 50:33.501 [SPEAKER_00]: I don't know if he's gonna be down in El Salvador. 50:35.067 --> 50:59.870 [SPEAKER_00]: Over the weekend, but it should be interesting because maybe Bitcoin will crash while I'm down there But it already is crashing and slow motion right is crashing in terms of gold right as gold keeps going up and Bitcoin is is drifting is drifting lower But again, it's gonna speed up, but the point I was making is I saw this coming just like I saw the housing bubble coming I was warning about it in 2002 in 2003. 51:00.631 --> 51:02.813 [SPEAKER_00]: I knew immediately 51:03.046 --> 51:07.511 [SPEAKER_00]: The effect of green span dropping interest rates to 1%. 51:07.811 --> 51:08.832 [SPEAKER_00]: I knew that was too low. 51:09.213 --> 51:12.557 [SPEAKER_00]: I can see what it was doing in housing in the mortgage market. 51:12.977 --> 51:14.459 [SPEAKER_00]: And I knew it was gonna end badly. 51:15.099 --> 51:18.723 [SPEAKER_00]: And by 2005 and six, I knew it was gonna end really badly. 51:19.544 --> 51:20.786 [SPEAKER_00]: Right? 51:20.826 --> 51:23.349 [SPEAKER_00]: Go watch my mortgage bankers beach from 2006. 51:24.710 --> 51:25.951 [SPEAKER_00]: Well, the same thing now. 51:26.652 --> 51:30.977 [SPEAKER_00]: Yes, I knew we were gonna have a dollar crisis years ago. 51:31.632 --> 51:37.678 [SPEAKER_00]: But now the dollar crisis I knew was coming is going to be much bigger because it happened so much later into the future. 51:37.938 --> 51:48.229 [SPEAKER_00]: I didn't know exactly what it was going to happen, but believe me, when I was writing my book, The Real Crash in 2013, I did not think that it would be 2026 and it wouldn't have happened yet. 51:48.529 --> 51:49.931 [SPEAKER_00]: I would have thought it would have happened by now. 51:50.571 --> 51:59.901 [SPEAKER_00]: But because it took so long, it's that much worse. 52:00.421 --> 52:12.893 [SPEAKER_00]: And we've, all of our policies has contributed to making it worse, including the policies of Donald Trump, both in his first term and now again, even more so in his second term. 52:13.253 --> 52:17.063 [SPEAKER_00]: And think about this, you know, the midterm elections are coming up. 52:17.802 --> 52:24.088 [SPEAKER_00]: This year, Donald Trump knows if the Democrats get the house, he's getting impeached almost the next day, right? 52:24.128 --> 52:25.189 [SPEAKER_00]: I mean, that's what they're gonna do. 52:26.571 --> 52:28.072 [SPEAKER_00]: So he doesn't want to have to go through that. 52:28.352 --> 52:29.253 [SPEAKER_00]: So what is he gonna do? 52:29.473 --> 52:31.836 [SPEAKER_00]: He's gonna try to goose the economy and even more inflation. 52:32.176 --> 52:35.039 [SPEAKER_00]: He's getting ready to mail out tariff dividend checks. 52:35.479 --> 52:36.961 [SPEAKER_00]: They're putting pressure on the Fed. 52:37.141 --> 52:39.684 [SPEAKER_00]: They're gonna put their new cronies in there mid-year. 52:41.145 --> 52:44.248 [SPEAKER_00]: And this whole thing is going to implode. 52:44.667 --> 52:48.974 [SPEAKER_00]: And it's probably not going to buy the Republicans the house. 52:49.014 --> 52:50.857 [SPEAKER_00]: They're going to lose it anyway. 52:51.458 --> 52:57.627 [SPEAKER_00]: They're going to pull out the stops, but we're going to pay the price after. 52:58.609 --> 53:04.718 [SPEAKER_00]: And it's going to cause the Republicans to lose the White House and the House in the Senate in 2028. 53:05.845 --> 53:10.132 [SPEAKER_00]: And as bad as it is now, it could be a hell of a lot worse. 53:10.733 --> 53:20.307 [SPEAKER_00]: Remember, you know, I was recommending that people vote for Trump as the lesser of the two evils between Trump and a comma to Harris. 53:20.768 --> 53:22.811 [SPEAKER_00]: Now, I'm maybe I'm starting to second guess that. 53:22.831 --> 53:24.273 [SPEAKER_00]: Maybe he wasn't the lesser. 53:24.634 --> 53:26.116 [SPEAKER_00]: I mean, they were both evil in my mind. 53:26.156 --> 53:31.785 [SPEAKER_00]: I didn't like either of the candidates, because I knew they weren't going to be good. 53:31.883 --> 53:33.867 [SPEAKER_00]: The next president is going to be worse. 53:34.388 --> 53:35.030 [SPEAKER_00]: I'm sure of that. 53:35.050 --> 53:47.597 [SPEAKER_00]: I don't even know who it is yet, but it's going to be worse because I think it's going to be like a man-dami kind of guy, like I'm, because since capitalism is going to take the fall for this, it always does. 53:47.864 --> 53:52.050 [SPEAKER_00]: And the Republican Party has got no credibility, right? 53:52.070 --> 53:59.139 [SPEAKER_00]: They would be complete hypocrites criticizing democratic socialism after their own Republican brand of socialism. 53:59.159 --> 54:05.748 [SPEAKER_00]: Like, once you've accepted that the free market doesn't work, then you have no basis to argue against socialism. 54:06.569 --> 54:15.762 [SPEAKER_00]: And that's what they've been supporting, and they've been cheerleading, this horrible economy as it's about to implode. 54:16.113 --> 54:29.494 [SPEAKER_00]: want to wrap up this podcast member, you know, again, I should have said this at the beginning, but subscribe to my channel if you're not now a subscriber, like it, leave a comment, share it with your friends, right? 54:29.534 --> 54:36.606 [SPEAKER_00]: It's important that people know what's going on and more important that they do something about it, right? 54:36.626 --> 54:39.330 [SPEAKER_00]: And again, it used to be easy to get through the shift gold. 54:39.670 --> 54:40.652 [SPEAKER_00]: Now it's hard. 54:40.632 --> 55:02.016 [SPEAKER_00]: right so buy online fortunately i've got the online uh... where you can just go and and fill up your cart right don't wait for some of the call you back you you know gold can be up and other five hundred dollars just get yourself in there get yourself into your silver before we run out contact the representatives at europe specific asset management get in the count 55:01.996 --> 55:07.968 [SPEAKER_00]: set up transfer over your 401, your IRA, your brokerage account, let us manage it for you. 55:08.068 --> 55:14.561 [SPEAKER_00]: We have the portfolios that are specifically designed to profit from exactly what's about to happen. 55:14.641 --> 55:17.727 [SPEAKER_00]: What's already happening, but what's going to continue to happen? 55:17.909 --> 55:19.330 [SPEAKER_00]: How come I am prepared? 55:19.370 --> 55:20.952 [SPEAKER_00]: How come I have the right portfolios? 55:21.132 --> 55:22.673 [SPEAKER_00]: Because I knew this was going to happen. 55:23.154 --> 55:25.456 [SPEAKER_00]: I'm prepared for what I knew was inevitable. 55:25.956 --> 55:27.578 [SPEAKER_00]: And now the inevitable is happening. 55:27.878 --> 55:30.521 [SPEAKER_00]: But most of the people don't understand what is happening. 55:30.541 --> 55:34.845 [SPEAKER_00]: So if you've got an account with your typical advisor, that advisor is Clueless. 55:35.065 --> 55:41.231 [SPEAKER_00]: He does not know he has no idea what's happening now and he is even more clueless as to what's going to happen next. 55:41.591 --> 55:45.975 [SPEAKER_00]: So before he loses all your money or your purchasing power, 55:45.955 --> 55:51.521 [SPEAKER_00]: Take the account away, transfer it over to your Pacific asset management. 55:51.541 --> 55:57.347 [SPEAKER_00]: If you're doing yourself or just load up my funds, you got to swap account, a fidelity account, just buy my funds. 55:57.447 --> 55:57.847 [SPEAKER_00]: No load. 55:57.867 --> 56:01.371 [SPEAKER_00]: You get all the symbols on your opact.com website. 56:01.491 --> 56:03.453 [SPEAKER_00]: EUROpaC.com. 56:03.473 --> 56:06.456 [SPEAKER_00]: You can get my Mergey Market Fund, which I think is going to kill it this year. 56:06.996 --> 56:12.402 [SPEAKER_00]: My foreign value fund, my foreign dividend pair fund, foreign bond fund, and my gold fund, right? 56:12.742 --> 56:15.405 [SPEAKER_00]: These are the funds, there's five funds. 56:15.385 --> 56:22.576 [SPEAKER_00]: You know, they keep talking about the Magnificent 7, you know, the Magnificent 7 are Goldstocks. 56:22.656 --> 56:23.958 [SPEAKER_00]: It's the Magnificent Miners. 56:24.319 --> 56:25.260 [SPEAKER_00]: That's what you need to own. 56:25.741 --> 56:28.685 [SPEAKER_00]: Forget the Mag 7 that everybody else is buying, right? 56:28.705 --> 56:30.348 [SPEAKER_00]: That's yesterday, right? 56:30.768 --> 56:33.412 [SPEAKER_00]: Tomorrow are these miners. 56:33.432 --> 56:35.876 [SPEAKER_00]: So you got to get your portfolio set up. 56:36.016 --> 56:36.958 [SPEAKER_00]: I can help you do that. 56:37.038 --> 56:38.260 [SPEAKER_00]: My team can help you do that. 56:38.600 --> 56:39.722 [SPEAKER_00]: We're ready to do it. 56:39.702 --> 56:44.888 [SPEAKER_00]: Also, if you're doing yourself or subscribed to my newsletter, go get strategic assets. 56:45.068 --> 56:53.117 [SPEAKER_00]: You know, you're at shift sovereign, and we give you stock ideas, great ideas that you can implement on your own in your own brokerage gap. 56:53.137 --> 56:58.744 [SPEAKER_00]: But however you want to do it, I can help you, I can manage your money, I can give you some stock picks. 56:59.064 --> 57:05.271 [SPEAKER_00]: There are a lot of ways that I can help you avoid going broke, which is what's going to happen to most Americans. 57:05.251 --> 57:07.166 [SPEAKER_00]: and actually make a lot of money. 57:07.690 --> 57:10.553 [SPEAKER_00]: And remember, this is a U.S. crisis. 57:10.735 --> 57:13.818 [SPEAKER_00]: It's not really a global, it's going to be global relief. 57:13.979 --> 57:23.209 [SPEAKER_00]: Remember, on Liberation Day, I said the irony of it is that Trump is liberating the world from having to carry the burden of America. 57:23.229 --> 57:24.450 [SPEAKER_00]: The world's getting liberated. 57:24.890 --> 57:27.854 [SPEAKER_00]: The world is going to reclaim their purchasing power that we lose. 57:28.494 --> 57:33.099 [SPEAKER_00]: Everything is going to get more expensive for Americans and everything is going to get cheaper for the rest of the world. 57:33.580 --> 57:37.384 [SPEAKER_00]: So the rest of the world is going to consume more and we're going to consume less. 57:37.364 --> 57:42.669 [SPEAKER_00]: and the rest of the world is going to have more capital because they're going to keep their savings to themselves. 57:43.190 --> 57:46.533 [SPEAKER_00]: We're going to have less capital because the world's not going to loan us what they've saved. 57:47.094 --> 57:49.116 [SPEAKER_00]: So we're going to be star for capital and goods. 57:49.436 --> 57:51.378 [SPEAKER_00]: We're going to have high prices and empty shelves. 57:52.019 --> 57:56.103 [SPEAKER_00]: The world is going to have fully stock shelves and low prices, right? 57:56.363 --> 57:59.146 [SPEAKER_00]: So this is not a global financial crisis. 57:59.366 --> 58:03.270 [SPEAKER_00]: So you can make a lot of money investing internationally. 58:03.250 --> 58:09.141 [SPEAKER_00]: bet on the winners right be invested in the economies that are going to gain what we lose. 58:09.241 --> 58:11.065 [SPEAKER_00]: This is a giant transfer of wealth. 58:11.505 --> 58:19.039 [SPEAKER_00]: It is, you know, we're redefining the global economic pecking order and the US is going to be chopped down unfortunately quite a few notches. 58:19.180 --> 58:23.107 [SPEAKER_00]: Again, this is not what I want, but this is what I know is going to happen. 58:23.568 --> 58:25.832 [SPEAKER_00]: And since I know what's going to happen, 58:25.812 --> 58:29.057 [SPEAKER_00]: between losing money and making money, I choose making money. 58:29.518 --> 58:33.825 [SPEAKER_00]: And of course, if you lose money, there's not the patriotic about that. 58:33.845 --> 58:35.908 [SPEAKER_00]: People can say, oh, Peter, you know, you're betting against America. 58:35.949 --> 58:37.371 [SPEAKER_00]: That's not being patriotic. 58:37.391 --> 58:39.795 [SPEAKER_00]: What's being patriotic about going broke, right? 58:40.316 --> 58:42.860 [SPEAKER_00]: If you want to help the country, don't go broke, right? 58:43.401 --> 58:45.404 [SPEAKER_00]: Get your money out of the US now. 58:45.845 --> 58:48.529 [SPEAKER_00]: So after the collapse, you can bring it back. 58:48.509 --> 58:49.730 [SPEAKER_00]: And you can be a value. 58:50.031 --> 58:53.334 [SPEAKER_00]: You can do something productive to help the country. 58:53.695 --> 58:55.176 [SPEAKER_00]: If you're broke, what are you going to do? 58:55.537 --> 59:06.108 [SPEAKER_00]: It's like, I want to get all of my followers in a lifeboat so that when the ship sinks and most Americans are drowning in the water, you can lend a hand, right? 59:06.288 --> 59:08.671 [SPEAKER_00]: You can pull them out into your lifeboat and you can help. 59:09.151 --> 59:11.454 [SPEAKER_00]: If you're drowning alongside them, what can you do? 59:11.814 --> 59:14.297 [SPEAKER_00]: Nothing, you're just, you know, you're all doomed. 59:14.277 --> 59:17.662 [SPEAKER_00]: So the most patriotic thing you could do right now is to save yourself. 59:18.103 --> 59:19.886 [SPEAKER_00]: So then you can come back and help save others. 59:20.166 --> 59:28.239 [SPEAKER_00]: And you can only do that by getting out of dollars, getting out of US stocks and bonds, getting into gold, silver, foreign assets, commodities. 59:28.540 --> 59:32.426 [SPEAKER_00]: I've got the exact portfolio that you need to save yourself and your country. 59:32.446 --> 59:34.429 [SPEAKER_00]: That was this subtitle of my book. 59:34.409 --> 59:39.341 [SPEAKER_00]: America's coming bankruptcy, how to save yourself and your country. 59:39.361 --> 59:40.524 [SPEAKER_00]: Well, this is how you do it. 59:41.005 --> 59:43.090 [SPEAKER_00]: Anyway, thanks a lot for listening. 59:43.311 --> 59:47.681 [SPEAKER_00]: I'll be back again next week with another podcast after I get back from El Salvador. 59:47.902 --> 59:54.257 [SPEAKER_00]: Bye for now.