Jamie Dimon Admits Peter Schiff Was Right - Ep 1046

[SPEAKER_01]: Make no friends in the pits and you take no prisoners. [SPEAKER_01]: One minute, you're up half a minute and soybeans and the next bull. [SPEAKER_00]: Your kids don't go to college and they've registered mentally. [SPEAKER_00]: With me? [SPEAKER_00]: The revolutions start now. [SPEAKER_00]: Start. [SPEAKER_01]: We have to pass the bills so that you can find out what is in it. [SPEAKER_00]: Cardinals machine back on! [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]: A 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]: Your money, your stories. [SPEAKER_00]: Your freedom, a Peter ship shall. [SPEAKER_01]: Welcome everybody.

[SPEAKER_01]: Well, it's been one week since I did my last podcast and when I did my last podcast, it was also on a Wednesday. [SPEAKER_01]: And what prompted me to do it that day was the fact that it was the first day that gold broke 4,000. [SPEAKER_01]: And there was a lot of media attention, of course, they missed the bigger picture as to why gold was at 4,000 and what it pretended. [SPEAKER_01]: But they did cover it.

[SPEAKER_01]: Media had pretty much ignored gold all the way up to 4,000, but when it got there all of a sudden it was a bit of a story. [SPEAKER_01]: And now it's kind of slipped back on the back burner again. [SPEAKER_01]: But here we are a week later, and gold is now over 4,200. [SPEAKER_01]: So gold has added $200 in one week.

[SPEAKER_01]: Silver closed today above 53 dollars. [SPEAKER_01]: Remember, $50 was resistance. [SPEAKER_01]: It was a big double top. [SPEAKER_01]: And what was I saying on this podcast? [SPEAKER_01]: I thought that we would blow through that double top and that 50 would become resistance, which is now the case. [SPEAKER_01]: And in fact, if you get a chance to buy silver anywhere near 50, do it. [SPEAKER_01]: But again, I got no problem buying it at a 53.

[SPEAKER_01]: I said the same thing when silver broke above 30. [SPEAKER_01]: I said 30 is the floor. [SPEAKER_01]: So if you have to pay 32 or 33, what's the big deal? [SPEAKER_01]: You don't have a lot of downside risk. [SPEAKER_01]: So even though silver might pull back to 50 and a half or maybe 49 and a half, so what? [SPEAKER_01]: By it now, it's not that much downside, and it may never pull back. [SPEAKER_01]: We may never see sub 50 silver again. [SPEAKER_01]: Now, maybe we will.

[SPEAKER_01]: I don't know. [SPEAKER_01]: We're no only $3 above it, but we may be at 60 before we're back at 50. [SPEAKER_01]: Look at the momentum. [SPEAKER_01]: In fact, if gold continues to rise, $200 a week, [SPEAKER_01]: will be at 5,000 a week before Thanksgiving and if we keep rising by $200 a week, which percentage wise would be a smaller percentage if we're at 5,000 and 4,000, but if we keep going up at 200 a week, goal will be at 6,000 before Christmas.

[SPEAKER_01]: Now, I don't expect gold to be at 6,000 before Christmas because there's got to be pullbacks at some point, although maybe not, who knows? [SPEAKER_01]: But it's clear that gold is going up. [SPEAKER_01]: I mean, year to day, gold is now up 60%. [SPEAKER_01]: Silver is up 84% in 2025. [SPEAKER_01]: We still got two and a half months left of the year. [SPEAKER_01]: We have not had,

[SPEAKER_01]: a year like this in precious metals since the 1970s, and that's not a coincidence that what's happening now hasn't happened since the 1970s because we are living through a similar economic period. [SPEAKER_01]: It's not just that we got stagnation, which we had in the 1970s, and we're going to get [SPEAKER_01]: 1971 we kicked off that decade going off the gold standard.

[SPEAKER_01]: That's what set all this emotion that resulted in a major dollar depreciation and gold went way up during the 1970s. [SPEAKER_01]: Well, something is happening now that is just as significant and maybe more. [SPEAKER_01]: So back then [SPEAKER_01]: we went off the gold standard. [SPEAKER_01]: So we told the world, hey, we're still on the dollar standard, we're just gonna not back it by gold anymore.

[SPEAKER_01]: So we're gonna renegut our commitment, we're not gonna give you gold for your dollars, you could just hold on to your dollars. [SPEAKER_01]: And the world basically did just that. [SPEAKER_01]: The world stayed on the dollar standard, despite the fact that we pulled the rug out from under them [SPEAKER_01]: for their their paper, but they continued to, you know, keep the dollar as the reserve.

[SPEAKER_01]: Now they marked the dollar down the dollar lost two thirds of its value against other currencies, but they still held it as their primary reserve asset.

[SPEAKER_01]: What's happening now over 50 years later is now the world. [SPEAKER_01]: is taken action. [SPEAKER_01]: They're pulling the rug out from under us. [SPEAKER_01]: They are now moving off the dollar standard. [SPEAKER_01]: And this probably has even bigger implications for us than going off the gold standard, did either for them or us.

[SPEAKER_01]: Because our entire economy, our entire way of life, [SPEAKER_01]: over that time period has evolved to become dependent on the dollars reserve status, dollars that we can create out of thin air, not that we have to backed by gold or anything. [SPEAKER_01]: We just conjure into existence and we use those dollars to buy consumer goods that we don't produce. [SPEAKER_01]: so we get to live beyond our means.

[SPEAKER_01]: And then the world is in a relationship where they loan us back the dollars they earned selling us stuff that we did make at low interest rates. [SPEAKER_01]: So now we can go into debt and buy more stuff and we can buy assets and the stock market goes up but the real estate goes up. [SPEAKER_01]: But our whole phony economy is completely built on the foundation [SPEAKER_01]: that's what's happening. [SPEAKER_01]: That's why gold is doing this.

[SPEAKER_01]: It's not just a random coincidence. [SPEAKER_01]: And of course, this significance is being lost on just about everybody when I hear the discussions on [SPEAKER_01]: admissions that I've heard was from Jamie Diamond, who is a highly respected guy, and Jamie Diamond was quoted as saying, gold can easily go to 10,000 easily, and I agree, it can easily go to 10,000, and it very well will go to 10,000, and a lot higher than that.

[SPEAKER_01]: But here is the more significant aspect of the Jamie Diamond quote. [SPEAKER_01]: Jamie Diamond said, quote, this is one of the few times in my life. [SPEAKER_01]: It's semi-rational to have some gold in your portfolio. [SPEAKER_01]: This is one of the few times in his life. [SPEAKER_01]: I mean, he's my age, I think. [SPEAKER_01]: He's been around for a long time.

[SPEAKER_01]: But he's saying in his entire life, [SPEAKER_01]: This is one of the few times that it's semi-rational, like not completely rational, but at least there's a modicum of rationality where you might want to have some of your portfolio and gold. [SPEAKER_01]: Now, first of all, clearly, if gold is above 4,200. [SPEAKER_01]: And 20, 20 years ago, it was 25 years when it was below 300. [SPEAKER_01]: And that was certainly within Jamie Diamond's lifetime.

[SPEAKER_01]: It was within his career, not just his lifetime. [SPEAKER_01]: But obviously, if Gold is gone from 250 to 4,000, that means it's always been rational to have gold in your portfolio. [SPEAKER_01]: Not just semi-rational, 100% rational. [SPEAKER_01]: Gold is outperform the S&P 500 since then. [SPEAKER_01]: So if it was rational to hold stocks, it was certainly rational to hold gold.

[SPEAKER_01]: The significance is that even though it was rational to hold gold 20 years ago, 10 years ago, five years ago, Jamie Diamond didn't realize it. [SPEAKER_01]: See, what he's actually saying is not that this is the first time that it's rational to hold gold. [SPEAKER_01]: This is just the first time that he understands the rationality. [SPEAKER_01]: You see, up until, [SPEAKER_01]: Recently, it was just guys like me.

[SPEAKER_01]: I would come out and I would try to explain the people when goal was 300, 500, 800, a thousand, twelve hundred, fifteen hundred, two thousand, why they needed to own it. [SPEAKER_01]: And people didn't see the rationale, right? [SPEAKER_01]: They thought I was nuts. [SPEAKER_01]: They thought I was crazy because I was worried about the dollar.

[SPEAKER_01]: I was worried about the deficits, the budget deficits, the trade deficits, all of the things that Jamie Diamond is now finally worried about. [SPEAKER_01]: Finally, with $4,000 gold, the problems that I was worried about at $400 gold suddenly concerned Jamie Diamond. [SPEAKER_01]: Now, the truth of the matter is, they were a problem back then. [SPEAKER_01]: The difference is it's a much bigger problem now.

[SPEAKER_01]: And the more significant difference in that is had people like Jamie Diamond, recognized the problem that I recognized 20 years ago, maybe we could have done something about it. [SPEAKER_01]: Maybe we could have diffused this bomb before it went off. [SPEAKER_01]: But because we waited as long as we have, there's nothing to do. [SPEAKER_01]: I mean, it's going off the matter what. [SPEAKER_01]: It's impossible to diffuse it.

[SPEAKER_01]: And so we're going to have to have this massive crisis that I have always been concerned about. [SPEAKER_01]: I've always been warning about it. [SPEAKER_01]: But it is very significant that now you have a major Wall Street figure. [SPEAKER_01]: acknowledging that, yep, I guess it makes sense, it's not completely nuts to buy some gold.

[SPEAKER_01]: In other words, he's also validating the fact that I was recommending it because if it makes sense to buy gold at 4,000, [SPEAKER_01]: Then was it nuts to buy it in 400? [SPEAKER_01]: Was it nuts to buy it in a thousand? [SPEAKER_01]: Obviously not, because if you're gonna buy it now and you're not crazy, then you weren't crazy to buy it then. [SPEAKER_01]: Now, everybody thought I was crazy, right? [SPEAKER_01]: But I knew I was the same one, right?

[SPEAKER_01]: In an insane world, right? [SPEAKER_01]: It's the same man that looks crazy. [SPEAKER_01]: Everybody else was irrational. [SPEAKER_01]: my view on gold was the rational one. [SPEAKER_01]: It just wasn't understood by enough people. [SPEAKER_01]: And the problem is the people who are now gradually waking up to the realities that I have known about and warned about for pretty much my entire career. [SPEAKER_01]: They still don't get it.

[SPEAKER_01]: They still don't understand really the severity. [SPEAKER_01]: of of what's going to happen, but at least they recognize now that yes, there is a problem. [SPEAKER_01]: I hear people talk about the dollar debasement trade, right? [SPEAKER_01]: Well, yeah, I've been in the dollar debasement trade for decades, because I knew the dollar was going to be debased. [SPEAKER_01]: In fact, it was being debased.

[SPEAKER_01]: It's continuing to be debased, and it's going to be debased at an even [SPEAKER_01]: But the point is that now, more people are coming in to buy gold. [SPEAKER_01]: What is that going to do to the price of gold? [SPEAKER_01]: What is that going to do to the price of silver? [SPEAKER_01]: Clearly, they're going to keep rising. [SPEAKER_01]: And the interesting thing about the rise. [SPEAKER_01]: So I did the podcast a week ago. [SPEAKER_01]: And there was one day last week.

[SPEAKER_01]: I think it was [SPEAKER_01]: maybe on Thursday, but we had a $2 drop in silver. [SPEAKER_01]: On the way to 53, there was a silver initially jumped above. [SPEAKER_01]: I made was 52, and then it sold all the way back down to 49 and a half, like in the same day. [SPEAKER_01]: So there was an intranet shakeout, but the problem was if you blinked you missed it, there was so much money waiting to buy that dip that before you knew it, we were at new highs.

[SPEAKER_01]: And I saw the same action in the mining stocks, which of course were on fire today. [SPEAKER_01]: The gold silver stocks, most of them hitting new record highs or 52 e-c highs at GDX was up almost GDX. [SPEAKER_01]: It was up a 5% today. [SPEAKER_01]: GDX. [SPEAKER_01]: I haven't even calculated the gains on the year on a 440% or whatever it is.

[SPEAKER_01]: But a lot of these stocks are double, triple, quadruple, [SPEAKER_01]: what they were in March right after Liberation Day right that's when they all bought them out and you know so starting from you know March April is when the whole rally in the stocks began even though the gold rally began earlier the stocks initially you know went down before before they they moved up but a couple of times when they not golden silver down the mining stocks gaped

[SPEAKER_01]: You know, 2% 3% 4% but they opened on the lows because the minute they gap down, the buying rushed in, right, I haven't seen buying like this during the entirety of this bull market. [SPEAKER_01]: I've been buying these golf stocks now for 20 years. [SPEAKER_01]: I've never seen so much buying on an opening gap down.

[SPEAKER_01]: It's almost like it's orchestrated, like they hit [SPEAKER_01]: the futures to drive down gold and silver prices just to gap down the mining stocks so they can swoop in and gobble them up. [SPEAKER_01]: Right? [SPEAKER_01]: And that's what's going on. [SPEAKER_01]: It is incredible strength as money is trying to move into the sector for the first time.

[SPEAKER_01]: Because again, if Jamie Diamond can now see the rationality of buying gold, whereas he never [SPEAKER_01]: And now you have a lot of other people on Wall Street who for the first time see that it makes sense to own gold and they want to buy some

[SPEAKER_01]: This is a game changer and again, it's a bigger game changer for the mining stocks because what has kept these valuations so low is when the Wall Street analysts look at a gold company and they try to make a recommendation as to whether or not people should buy the stock. [SPEAKER_01]: They try to assess the future earnings of the gold mining company.

[SPEAKER_01]: and what they've always done, regardless of the current price of gold, the assumption is the price of gold is much lower in the future, because they have no idea why it's up, and they assume it's just a mania, and that gold's gonna go down, and so that impacts their evaluation of the companies, because it means the earnings are gonna go down, not up.

[SPEAKER_01]: But if Wall Street now recognizes that $4,000 gold is not just here to stay, but that in the future it's going to be $5,000 gold or $10,000 gold, right? [SPEAKER_01]: You have to totally redo your valuation on these gold mining companies because now you have to factor in much higher earnings in the future and now discount those to the present.

[SPEAKER_01]: So there is going to be a wave of money that's going to discover the value in these gold mining stocks and as money exits the AI trade or the crypto trade, where is it going to go? [SPEAKER_01]: I mean, where can you get the kind of momentum that you've got in gold stocks now? [SPEAKER_01]: nowhere. [SPEAKER_01]: Plus, the gold companies are earning a ton of money. [SPEAKER_01]: It's not just buying the sky, well, maybe they're going to make money in the future.

[SPEAKER_01]: They are making a ton of money right now, and they're going to make even more in the future than they're making right now. [SPEAKER_01]: And it's pretty much a certainty. [SPEAKER_01]: It's not just betting on the come.

[SPEAKER_01]: So it's about the safest, momentum, growth, [SPEAKER_01]: investment that I think anybody can possibly make so a lot of money is going to be coming in to the sector which is why again I've been pound in the table you got to buy these stocks you never in April I came out with my special report the best way to buy gold which was don't buy gold above ground by in the ground because of how cheap these mining stocks were

[SPEAKER_01]: Now, yes, they're not as cheap as they were, but they're still cheap, especially considering how much higher the price of gold is. [SPEAKER_01]: And in fact, even though a lot of these stocks have doubled in tripled, I think when we get their earnings. [SPEAKER_01]: And we're going to start to see two, three earnings later this month. [SPEAKER_01]: I think the earnings are going to go up more than the stock price. [SPEAKER_01]: And where do we get Q4 earnings?

[SPEAKER_01]: Because, you know, and then next year, Q1, the earnings are going to keep going up and up and up. [SPEAKER_01]: And so it's going to suck in capital from all over the world.

[SPEAKER_01]: uh... right now you know you got these central banks that are buying gold uh... but now it's not just a central banks uh... it's it's investors but they're not done buying they're just getting started and in the scheme of things so with a central banks they have a lot more gold to buy than they've already bought uh... so the prices got nowhere to go but up i got a quick commercial break stick around like a lot more talk about uh... so we'll be right back

[SPEAKER_01]: All right, you know, I'm doing this podcast, what Wednesday, it's about eight, 30 here in New York. [SPEAKER_01]: So, Asian trading, it's still early on. [SPEAKER_01]: Gold is already up another 1750 new record high territory. [SPEAKER_01]: It's trading at 4,225. [SPEAKER_01]: And silver's up another 16 cents it said 53 at a quarter right new records every day a new record This is a train that can't be stopped.

[SPEAKER_01]: All you could do is hop on board So again, you know, if you haven't bought any gold or silver by it right now Don't even finish this podcast put it on pause and ain't going anywhere

[SPEAKER_01]: go to shift gold by your gold and silver and then come back and watch the rest of it because if you wait till the end of the podcast and go back it's going to be even more expensive right so yeah you have to recognize this is a real gold rush what is happening is what I've been predicting what happened for years and now it's happening [SPEAKER_01]: Most people don't understand what it means because they weren't predicting it.

[SPEAKER_01]: It is happening for the precise reasons that I said it was going to happen. [SPEAKER_01]: And it's also going to result in a crisis, a dollar crisis, and a sovereign debt crisis.

[SPEAKER_01]: Again, this is just like 2007 with the blowup of subprime. [SPEAKER_01]: I was predicting that for years, I knew it would happen, and I knew why it was going to happen, and I knew what the consequences were. [SPEAKER_01]: That's how I knew when it happened that a financial crisis was around the corner. [SPEAKER_01]: But the mainstream media, the Fed, Ben Bernaki, subprime is contained. [SPEAKER_01]: They didn't know what happened because they weren't on the lookout for it.

[SPEAKER_01]: I knew it was happening because I expected it. [SPEAKER_01]: It happened just the way I thought and we had the 2008 crisis, the way I scripted it. [SPEAKER_01]: Well, that's what's going on now. [SPEAKER_01]: And you know, the problem is when you live in a bubble, you don't see the pin. [SPEAKER_01]: Gold is the pin. [SPEAKER_01]: it has tricked the bubble.

[SPEAKER_01]: The US dollar bubble and the US credit bubble, the whole global system of the US dollar reserve and dollar hegemony is going down the drain. [SPEAKER_01]: That's what gold is saying. [SPEAKER_01]: And yes, I mentioned Larry Cudlow dismissed it. [SPEAKER_01]: Hey, we don't have to worry about it because the dollar's not going down. [SPEAKER_01]: The bond market isn't going down. [SPEAKER_01]: They will be by the time they're going down is absolutely too late to do anything about it.

[SPEAKER_01]: The same way they were dismissive of subprime because they said, hey, it's only subprime. [SPEAKER_01]: now they're saying oh it's only gold or it's only silver or precious metal so we don't have to worry right gold is just going up but nothing else bad is happening. [SPEAKER_01]: Yes gold going up like this is telling you these other bad things are going to happen. [SPEAKER_01]: And they're going to happen suddenly when they do, right?

[SPEAKER_01]: The dollar is going to fall through the floor and it's going to take the bond market with it. [SPEAKER_01]: And you know, we got the base book today and the Federal Reserve is basically officially now ended quantitative tightening.

[SPEAKER_01]: which is something I said they would do they still have a massive balance sheet but this is just the first step to launch quantitative easing it is coming I thought it would have happened already they managed to avoid it but it's coming and it's going to be bigger than ever it'll probably start by next year sometime maybe even by the end of this year because you know it depends on when the bottom drops out of the bond market it's going to happen any

[SPEAKER_01]: But it's it's it's going to happen. [SPEAKER_01]: Goals are going to keep on going up until the dollar breaks until the bond market. [SPEAKER_01]: breaks, but before that happens, right? [SPEAKER_01]: You do something to protect yourself. [SPEAKER_01]: And one of the things you could do is just buy some gold and silver. [SPEAKER_01]: Now, we had another, I guess, a significant interview. [SPEAKER_01]: I was listening to our Treasury Secretary, Scott Bessett, and he was interviewed.

[SPEAKER_01]: He was at some invested America conference [SPEAKER_01]: uh... which of course misses the whole point that it's divest from america that's actually going on uh... you know my international dividend pair strategy now my is up almost fifty percent on the year and that's because of the money that's now being sucked out of the u.s.

[SPEAKER_01]: and there's a lot more left to come out of the u.s. [SPEAKER_01]: and that's being reinvested internationally but Scott bessett is there at this investor america event and he was interviewed on c.m.b.c. [SPEAKER_01]: And one of the questions that he was asked was about gold, why was it going up and was he worried about it? [SPEAKER_01]: And his answer first was when she asked him why is gold going up. [SPEAKER_01]: He said, well, more buyers and sellers, very simple answer, right?

[SPEAKER_01]: Didn't want to talk about why there are so many buyers, just the fact that, well, there's buyers, and there's not enough sellers, so the price is going up. [SPEAKER_01]: But she asked him if he was concerned that [SPEAKER_01]: gold going up was awarding that it somehow reflected a loss of confidence in the US economy and the dollar and his answer was absolutely not.

[SPEAKER_01]: Now of course, you know, [SPEAKER_01]: Even if he recognizes it, the last thing he wants to do is admit it, he just wants to put a positive spin on everything. [SPEAKER_01]: But he just came out with a BS answer and he said, no, everything is great.

[SPEAKER_01]: He says, we are our bond market is great, our interest rates are down, the dollar is not down that much. [SPEAKER_01]: You know, he kind of refuted the idea that the dollar is falling because it has stabilized [SPEAKER_01]: But he had no worries whatsoever about the price of price of gold. [SPEAKER_01]: Completely ignoring it. [SPEAKER_01]: Again, just like Ben Bernaki claimed not to worry about the subprime market.

[SPEAKER_01]: Now again, I saw an interview and I wish I could find it online. [SPEAKER_01]: I've looked for it. [SPEAKER_01]: But there was an interview with a Molly Fool, where they interviewed Ben Bernaki. [SPEAKER_01]: And this is when he's no longer fed chairman and in the interview, they played clips of him downplaying the significance of the subprime problem. [SPEAKER_01]: He was saying, you know, subprime is contained in the economy as strong, housing as strong.

[SPEAKER_01]: And so they played these clips and they asked him, well, how do you feel? [SPEAKER_01]: You know, listening to this because you were clearly so wrong, you know, how do you [SPEAKER_01]: And you might have expected to say, yeah, I mean, I really got it wrong. [SPEAKER_01]: I, you know, I missed it completely, right? [SPEAKER_01]: I don't know why, you know, I mean, I guess I'm not as smart as everybody thinks I am, right?

[SPEAKER_01]: You would expect some contrition or maybe some excuse that, well, you know, everybody else got it wrong. [SPEAKER_01]: I hear that all the time. [SPEAKER_01]: Nobody could have predicted this. [SPEAKER_01]: Nobody, you know, saw it coming like, you know, what am I chopliver? [SPEAKER_01]: I not only saw it coming, I wrote a whole book about it, right? [SPEAKER_01]: It was so obvious that it was coming. [SPEAKER_01]: But no, that's not what Ben Bernacke said.

[SPEAKER_01]: He said, and I am I'm making this up. [SPEAKER_01]: He said, well, you know, to be honest. [SPEAKER_01]: I really couldn't speak my mind back then, because I was a part of the Bush administration. [SPEAKER_01]: And so I had to maintain the narrative that the administration was advancing, which you know, I couldn't believe that he said this. [SPEAKER_01]: And I also couldn't believe that nobody picked up on it. [SPEAKER_01]: Ben Bernacke's excuse for why he was so wrong.

[SPEAKER_01]: Wasn't that he got it wrong and that he wasn't smart. [SPEAKER_01]: It was that he lied. [SPEAKER_01]: He basically said, look, yeah, I knew it was pretty bad, but I couldn't say that. [SPEAKER_01]: I couldn't mess up and tell the truth because George Bush wouldn't have liked it, right? [SPEAKER_01]: I was part of the Bush team and he was talking about how great the economy was, how strong the economy was, and so I didn't want to undercut him.

[SPEAKER_01]: I didn't want to tell the public the truth about how bad things were because it wouldn't have reflected well on Bush. [SPEAKER_01]: And so I lied. [SPEAKER_01]: Well, first of all, he was not a member of the Bush administration. [SPEAKER_01]: He was the chairman of the Fed. [SPEAKER_01]: He was completely independent. [SPEAKER_01]: But that was an admission that Fed independence was a pretence.

[SPEAKER_01]: Because you know what, he was acting like he was a member of the Bush administration. [SPEAKER_01]: That's what these Fed governors knew. [SPEAKER_01]: They always act as if they're working for the president because that's who reappoints them. [SPEAKER_01]: But now it's even worse because now they don't even pretend that they're independent.

[SPEAKER_01]: I mean Trump is clearly calling the shots now and influencing what the Federal Reserve [SPEAKER_01]: But another thing that Scott Besson said was that [SPEAKER_01]: He praised Alan Greenspan. [SPEAKER_01]: He called on the Maestro and he said he was a great fed chairman because he kept interest rates low and he wasn't concerned about inflation. [SPEAKER_01]: He knew that there was productivity gains and so he resisted the temptation to raise rates.

[SPEAKER_01]: He kept them low and that's why we had this good economy under [SPEAKER_01]: Greenspan was because he kept rates low, basically saying that we need more of that now. [SPEAKER_01]: We need central bankers not to worry about inflation, but to keep interest rates low. [SPEAKER_01]: Completely missing the point that the reason we had a housing bubble and a financial crisis was because Alan Greenspan did exactly what he's now praising him for having done.

[SPEAKER_01]: he kept interest rates too low for too long and inflated a housing bubble that when it popped we had the two thousand eight financial crisis he doesn't get that or he's lying about that but interestingly enough you know if he's gonna praise uh... the architect really of the two thousand eight financial crisis and he thinks that allen green span is a great fed chair right

[SPEAKER_01]: He told this reporter that he's not concerned about 40,000, you know, $4,000 old, irrelevant to him, not nothing, nothing to see there, right? [SPEAKER_01]: Alan Greenspan, one of the things that he said as Fed Chairman in Congressional testimony when he was asked. [SPEAKER_01]: about going back to a gold standard because he was known for his advocacy of a gold standard. [SPEAKER_01]: You know, he was an iron ran disciple.

[SPEAKER_01]: He wrote a piece called Golden Economic Freedom and, you know, Ron Paul once told me that he asked [SPEAKER_01]: uh... Alan Greenspan personally while he was fed chairman hey if you had you know now that you know you all this time is gone by and now that you're fed chairman you know if you had to go back and rewrite that essay on golden economic freedom what would you change

[SPEAKER_01]: and Alan Greenspan told Ron Paul, I wouldn't change a word. [SPEAKER_01]: In other words, he's still believed as Fed Chairman, everything he wrote long before he got that job. [SPEAKER_01]: And so he was an advocate for the gold standard. [SPEAKER_01]: So when he was asked in the, you know, by annual, you know, congressional testimony, [SPEAKER_01]: He was asked, should we go back on a gold standard? [SPEAKER_01]: Do you support going back on a gold standard?

[SPEAKER_01]: His answer was, well, we don't really have to because we're on one anyway, kind of de facto, because he admitted that as Fed Chairman, he used gold as a key barometer of whether or not he had the right interest rates. [SPEAKER_01]: That was an indication that interest rates were too low. [SPEAKER_01]: If gold was down at 300, that meant interest rates were too high. [SPEAKER_01]: So in other words, at the time, gold was around 350.

[SPEAKER_01]: And he was kind of trying to keep gold price stable around 350. [SPEAKER_01]: And so if he saw the price rising up to 400, that would be a market-based signal that he's too loose and he needs to tighten up. [SPEAKER_01]: on the other side, if he saw the price of gold falling and getting down to 300, then that would be a sign that he's too tight and needs to ease up. [SPEAKER_01]: So he said, look, we're still using gold.

[SPEAKER_01]: We're not officially on a gold standard, but gold is still providing discipline because it's helping to keep interest rates to reflect a real rate of inflation because gold is very sensitive to inflation. [SPEAKER_01]: much more so than just a CPI. [SPEAKER_01]: So if we want to maintain price stability, we need to maintain gold price stability. [SPEAKER_01]: And this is what Alan Greenspan said.

[SPEAKER_01]: So if you're going to praise Alan Greenspan, you can't just selectively praise him. [SPEAKER_01]: You can't ignore what he said about gold. [SPEAKER_01]: So, what would Alan Greenspan say today in the face of $4,000 gold? [SPEAKER_01]: Right? [SPEAKER_01]: He went dismiss it, the way Scott Bessett is dismissing it. [SPEAKER_01]: He would say $4,000 gold means monetary policy is much too loose because Alan Greenspan said $400 gold meant he was too loose.

[SPEAKER_01]: Well, what does $4,000 gold mean? [SPEAKER_01]: It's 10 times as high. [SPEAKER_01]: Gold is screaming, the Fed is too loose. [SPEAKER_01]: Yet the Fed is about to cut rates again, ignoring the warning that rates are too low, and need to be higher, the Fed is going to lower them again. [SPEAKER_01]: And so the price of gold is just going to keep on rising and the pace of the rise is more likely to accelerate. [SPEAKER_01]: It's not going to slow down.

[SPEAKER_01]: It's going to speed up. [SPEAKER_01]: which is why you have to buy it now, which is why you have to load up on these golf stocks, especially look, you've got a gift to buy my golf fund, the your Pacific Golf fund, EPG IX, about a third of the fund is small companies, very small exploration companies that haven't moved nearly as much as the big companies.

[SPEAKER_01]: But we think that those companies actually have the most potential, and we'll move the most, they're just going to move last. [SPEAKER_01]: Now, maybe that'll start next week, maybe it'll start next month. [SPEAKER_01]: I don't know. [SPEAKER_01]: But for now, you've got an opportunity to get into the fund and acquire part of that portfolio. [SPEAKER_01]: Yes, we own the best quality big names.

[SPEAKER_01]: and the mid-caps and the royalty companies which have been underperforming recently as money has been moving to the more speculative side of the gold trade out of the royalty companies into the producers. [SPEAKER_01]: The next one is going to be to the juniors in the expiration. [SPEAKER_01]: So before those things really explode, you got to go and you got to buy my gold fund.

[SPEAKER_01]: Obviously a gold fund is a different [SPEAKER_01]: uh... in in the stocks then there is in the metal now there's a lot of upside in the metal there's even more in the stocks uh... so you know you can buy my funds directly on our website at europeac dot com you can buy it no load in any discount brokerage firm e p g i x is a symbol you can read the prospectus understand the risk right invest money that you could afford to lose uh... but

[SPEAKER_01]: You know, again, as I've been saying, the payoff is asymmetric to the risk, right? [SPEAKER_01]: These stocks can go up 10 times, 20 times. [SPEAKER_01]: The worst cases they go to zero, but in the diversified portfolio, there's no way it's going to zero. [SPEAKER_01]: So let's say somebody invest 10 grand, worst case scenario, they lose 7-8 grand. [SPEAKER_01]: I mean, that would be a complete disaster, but you don't lose everything.

[SPEAKER_01]: best case, your 10 grand becomes a hundred grand, 200 grand. [SPEAKER_01]: So if you compare the seven or eight thousand dollars, you can lose versus the 200 thousand that you could gain, right? [SPEAKER_01]: You want to make that bet, right? [SPEAKER_01]: You have an opportunity for this asymmetric a bet where you make so much if you're right and lose so little if you're wrong, you got to do that every time.

[SPEAKER_01]: Now, I mean, if you absolutely [SPEAKER_01]: Well, then I guess you can't do the trade. [SPEAKER_01]: But there's an amount of money that everybody can risk. [SPEAKER_01]: And so figure out what your risk tolerance is and then make the investment. [SPEAKER_01]: And it's not just wild random chance. [SPEAKER_01]: It's not like I'm telling people, hey, put your money on black and spin the wheel or pick a number, bet 32. [SPEAKER_01]: There is a logic behind this.

[SPEAKER_01]: This is not just random guesswork. [SPEAKER_01]: it makes sense that gold is going to go way up. [SPEAKER_01]: And then it makes more sense that these mining stocks will go up even more. [SPEAKER_01]: So we are making investments. [SPEAKER_01]: We're not just making random speculations, like the role of a dice. [SPEAKER_01]: Now that doesn't mean that the outcome is 100% certain, but it's a lot better than just raw gambling. [SPEAKER_01]: I'm not just throwing darts, right?

[SPEAKER_01]: There's a method to this. [SPEAKER_01]: Um, anyway, one of the things that, um, best I talked about was China. [SPEAKER_01]: And I've been hearing a lot of stuff from the, um, Trump administration about how China's economy is imploding, how China is losing the trade war that, you know, they're hurting themselves more than they could hurt us. [SPEAKER_01]: This is all a bunch of BS. [SPEAKER_01]: In fact, we got, uh, data earlier this week. [SPEAKER_01]: I think it was Monday.

[SPEAKER_01]: or was he yesterday, but import export data out of China, and imports and exports are a big, seven, eight percent or so, year over year, right? [SPEAKER_01]: So Chinese trade is not contracting, it is expanding. [SPEAKER_01]: Now trade with America has gone down a lot, but overall trade has gone up. [SPEAKER_01]: So what does that mean? [SPEAKER_01]: That means China is trading more with other nations as it's trading less with America.

[SPEAKER_01]: And that's good for China because the nations that it's trading with can actually afford to buy their stuff. [SPEAKER_01]: And when I talk about affording it, I don't mean can print money. [SPEAKER_01]: I mean they have products. [SPEAKER_01]: The reason that you export is the import. [SPEAKER_01]: That's what comparative advantage is about, right? [SPEAKER_01]: A nation will produce an excess of what it can produce efficiently.

[SPEAKER_01]: And then it will trade the excess with other countries to import what they produce more officially than they do.

[SPEAKER_01]: And that way everybody wins, right? [SPEAKER_01]: Everybody specializes in certain things and then trades and everybody wins. [SPEAKER_01]: because of trade. [SPEAKER_01]: But what China's been doing is they've been trading with us, where it's a one-way street. [SPEAKER_01]: They send us products and we just write a print-up some money and give them that because we don't have the factories to produce the stuff that the Chinese want. [SPEAKER_01]: But you know what?

[SPEAKER_01]: There are a lot of other people in other countries that produce stuff that the Chinese could use. [SPEAKER_01]: A lot more than our Treasury debt. [SPEAKER_01]: And so they're trading more of those countries. [SPEAKER_01]: In fact, there was a huge increase in trade between China and Africa, right? [SPEAKER_01]: So apparently, they found some stuff that they could use in Africa. [SPEAKER_01]: And so they're trading more of Africa. [SPEAKER_01]: But all of this is good for China.

[SPEAKER_01]: They need us like a hole in the head. [SPEAKER_01]: They've been vendor financing us, right? [SPEAKER_01]: The best thing we could do for China is, you know, [SPEAKER_01]: in this relationship, which is really parasitic, where we've been the parasite, and they've been the host, and we've been feeding off of them.

[SPEAKER_01]: And a lot of people, including the president, just don't understand that the nature of this relationship, the idea that [SPEAKER_01]: You know, we, the world's been taking advantage of us when we've been taking advantage of them. [SPEAKER_01]: We've been riding on a global gravy train and, and that ride is coming to an end. [SPEAKER_01]: And that's what that, that trade data is showing you.

[SPEAKER_01]: In fact, look what happened in Spain didn't want to increase their military spending. [SPEAKER_01]: by the amount that Trump wanted. [SPEAKER_01]: So he got really mad and he says, well, we're going to have to put tariffs on them. [SPEAKER_01]: If they're not going to spend more money on the military. [SPEAKER_01]: Yeah, you know what? [SPEAKER_01]: Fine, you know, they're better off fine. [SPEAKER_01]: Put the tariffs, because the tariffs are not on Spain.

[SPEAKER_01]: The tariffs are on us. [SPEAKER_01]: And one way to show that, I posted this on X. But my wife had bought me a pair of shorts, a couple of pairs of shorts. [SPEAKER_01]: And I ended up really liking it, I thought they were very comfortable, they fit nice, I enjoyed wearing these shorts, not that I, you know, I got plenty of shorts, I live here in Puerto Rico. [SPEAKER_01]: So I'm not in desperate need of more short pants, but I liked these particular shorts.

[SPEAKER_01]: And so I asked my wife, hey, get me a few more, get me some different colors, right? [SPEAKER_01]: I got white and I got like tan. [SPEAKER_01]: But I've, you know, give me a few more colors of these shorts. [SPEAKER_01]: So she tried to buy him and they won't ship them because the company that makes these shorts is in France and they just said, look, we're just not shipping anything to the US. [SPEAKER_01]: It's too big a hassle with the tariffs.

[SPEAKER_01]: So even though I'm willing to pay the tariffs, they won't even ship it. [SPEAKER_01]: But that proves, it's all like they're eating the tariffs. [SPEAKER_01]: Oh, don't worry, sure. [SPEAKER_01]: We want so desperately to sell you these shorts that we're going to pay the tariffs. [SPEAKER_01]: No, they've got plenty of other customers who can buy these shorts. [SPEAKER_01]: They don't need our business, right?

[SPEAKER_01]: Nobody needs it because they have to vendor financials, right? [SPEAKER_01]: The key is producers. [SPEAKER_01]: If you can produce it, you can consume it. [SPEAKER_01]: If you can't produce it, then you can't consume it. [SPEAKER_01]: We are the weaker position. [SPEAKER_01]: We are overplayed our hand. [SPEAKER_01]: That's Trump keeps thinking that China doesn't have the cards. [SPEAKER_01]: We don't have the cards. [SPEAKER_01]: We're bluffing. [SPEAKER_01]: We've got nothing.

[SPEAKER_01]: And we're going to find out that we got nothing. [SPEAKER_01]: Now, what other thing, too? [SPEAKER_01]: I wanted to talk about that's going on. [SPEAKER_01]: is what's happening with Bitcoin. [SPEAKER_01]: Because the people in crypto, I think you've already lost a ton of money, they just don't know it yet. [SPEAKER_01]: Gold is not just pricking the dollar bubble, it's pricking the Bitcoin bubble.

[SPEAKER_01]: The whole false narrative that Bitcoin is digital gold, [SPEAKER_01]: is being destroyed right now. [SPEAKER_01]: It's being exposed as a fraud. [SPEAKER_01]: Bitcoin is in a major bear market. [SPEAKER_01]: It is down by more than 25 percent. [SPEAKER_01]: I haven't done the calculations today. [SPEAKER_01]: Maybe it's down 26, 27 percent. [SPEAKER_01]: Priced in gold since August. [SPEAKER_01]: This is a massive decline.

[SPEAKER_01]: And the trade is obviously [SPEAKER_01]: And Bitcoin is down way more than text stocks, which recently made new highs. [SPEAKER_01]: Now, obviously not priced in gold. [SPEAKER_01]: They didn't make new highs, but Bitcoin is weakening. [SPEAKER_01]: And it's not a text stock. [SPEAKER_01]: Even though it's highly correlated to the text stocks, because it will never have any earnings.

[SPEAKER_01]: So even text stocks now that may be losing money, at least there's the potential that they may make money in the future. [SPEAKER_01]: And that's of course why you're buying these companies that are losing money now because you're betting that they'll make money in the future that will offset today's losses. [SPEAKER_01]: But Bitcoin will never make money in the future. [SPEAKER_01]: It doesn't make money now and it won't make money then because it is impossible.

[SPEAKER_01]: It just sits there. [SPEAKER_01]: It doesn't generate any kind of income. [SPEAKER_01]: Now, you could say, well, the same with gold. [SPEAKER_01]: Yes, gold just sits there, storing the value of the precious metal. [SPEAKER_01]: You know, gold has a lot of uses. [SPEAKER_01]: Bitcoin has none, right? [SPEAKER_01]: Yes, you can give it to somebody else. [SPEAKER_01]: I get that. [SPEAKER_01]: I don't count that as a use.

[SPEAKER_01]: That is completely separate from the fact that you can exchange it. [SPEAKER_01]: Yes, I can exchange my gold. [SPEAKER_01]: But ultimately, somebody could use the gold for something real, right? [SPEAKER_01]: But again, I don't want to make this podcast about exposing the flaws of Bitcoin. [SPEAKER_01]: The purpose of my bringing it up is that the price is going down and I think the risk of a complete collapse in Bitcoin has never been greater.

[SPEAKER_01]: And said, I'm going to have 100% tariffs on China, 100% as in addition to the 30 or 40% tariffs that are already there. [SPEAKER_01]: Now he had already teased earlier in the day that I don't like the way the Chinese are dealing with us on on critical minerals, they have some export controls, they're not playing nice. [SPEAKER_01]: I'm going to get tough on China. [SPEAKER_01]: We're going to have some really big tariffs that are going to come out.

[SPEAKER_01]: So he talked about that. [SPEAKER_01]: and then about a half hour after the stock market closed, maybe 15 minutes, he puts out a post on true social 100% tariffs on China. [SPEAKER_01]: Now as soon as he does that, [SPEAKER_01]: Bitcoin crashes. [SPEAKER_01]: Now, he went down to like 104,000. [SPEAKER_01]: I mean, different on a different issue. [SPEAKER_01]: Eat it down a lot more. [SPEAKER_01]: And the all coins got obliterated.

[SPEAKER_01]: And there was massive margin calls and liquidations. [SPEAKER_01]: Some people lost everything, depending on how lever they were. [SPEAKER_01]: Now, of course, I did a podcast on Friday.

[SPEAKER_01]: on the SHIFT Gold YouTube channel where I discussed this and I said on Friday, you know, we'll see what happens because I expected that Trump would check it out, you know, the taco would strike again and he would come out and reverse course and sure enough, on Sunday, it started with Scott Bessant who went on the Sunday morning talk shows.

[SPEAKER_01]: Not Scott Bessant, Vice President of JD Vance basically went on the talk shows and [SPEAKER_01]: We're not hoping that we're going to actually impose these tariffs, it's more of a negotiating tactic, which, of course, you don't say that. [SPEAKER_01]: I mean, how can you negotiate if you tell the other party that it's all a bluff, right? [SPEAKER_01]: Because if you're saying, look, we don't really want these tariffs. [SPEAKER_01]: They're just a negotiating tactic.

[SPEAKER_01]: You've blown whatever negotiating leverage. [SPEAKER_01]: You thought you had. [SPEAKER_01]: because you've told the you're the counterparty that you don't want the tariffs either okay fine. [SPEAKER_01]: Oh, so if Trump was really serious, he would have imposed the tariffs right then and there. [SPEAKER_01]: He wouldn't have had some arbitrary deadline that he can cancel.

[SPEAKER_01]: But once the market started to tank, [SPEAKER_01]: You know, people went to the president and said, hey, you got a backtrack. [SPEAKER_01]: And in fact, later on in the day, he put out on true post social. [SPEAKER_01]: Don't worry about China. [SPEAKER_01]: Everything's going to be fine. [SPEAKER_01]: I love China. [SPEAKER_01]: I love G's. [SPEAKER_01]: That's a wonderful leader. [SPEAKER_01]: I, I've got respect for him or buddies, right?

[SPEAKER_01]: And basically, he's kissing his ass, right? [SPEAKER_01]: Trying to, you know, backtrack on what he said. [SPEAKER_01]: Now look, I am sure that a lot of people close to Donald Trump.

[SPEAKER_01]: got short crypto and who knows what else before that initial truth social post and they reversed and they went long and I mean people are cleaning up front running these truth social posts that they all know we're going to move the market right obviously so I think there's massive market manipulation that's going off but of course nobody's going to investigate it because Trump controls the people who would be investigating it.

[SPEAKER_01]: But the point is, and what I really wanted to make is that Bitcoin and other cryptos collapsed based on this post because of lack of liquidity. [SPEAKER_01]: It shows you that there's not a depth in these markets. [SPEAKER_01]: What I think is going to happen next is the real crash, not a just a flash class that gets reversed. [SPEAKER_01]: I think that a lot of the hot money and I'm not talking about the die hard Bitcoin Macsies.

[SPEAKER_01]: I mean, yeah, you guys will go down with this ship. [SPEAKER_01]: I know that, right? [SPEAKER_01]: You guys are true believers and nothing is going to turn you from your Bitcoin, right? [SPEAKER_01]: So you guys are there. [SPEAKER_01]: But. [SPEAKER_01]: I would say that the majority of money that has entered Bitcoin over the last two or three years are not the die hards they got in a long time ago.

[SPEAKER_01]: It's mainstream investors who bought Bitcoin through the ETFs, they didn't open up their own wallet, they bought it in their brokerage account, just where they have all their other stocks. [SPEAKER_01]: And their goal was a profit. [SPEAKER_01]: They bought Bitcoin ETFs and then Bitcoin Treasury companies or micro strategy. [SPEAKER_01]: They bought these things because they believed that the price would go up because there was so much hype. [SPEAKER_01]: There was so much phomo.

[SPEAKER_01]: You got to buy these. [SPEAKER_01]: The financial media was shoving these things down your throat. [SPEAKER_01]: And then, of course, when a Trump was elected president, now they had the government pumping it up. [SPEAKER_01]: And everybody was saying, you got to buy Bitcoin because Trump is going to make America the Bitcoin capital of the world. [SPEAKER_01]: They're going to have a strategic reserve. [SPEAKER_01]: Idiot. [SPEAKER_01]: Buy Bitcoin now.

[SPEAKER_01]: How could you lose? [SPEAKER_01]: It's a can't lose. [SPEAKER_01]: In fact, [SPEAKER_01]: The most consensus trade out there, I think, is that you can't lose buying Bitcoin. [SPEAKER_01]: How can you lose? [SPEAKER_01]: There's only 21 million of them, and everybody's going to buy them. [SPEAKER_01]: All these governments are going to be racing to buy them. [SPEAKER_01]: It's an arms race for Bitcoin. [SPEAKER_01]: There's not that many there.

[SPEAKER_01]: I mean, it's going to a million. [SPEAKER_01]: It's going to 10 million. [SPEAKER_01]: I mean, just ask Michael Seller, he'll tell you it's a lock, mortgage your house, buy Bitcoin. [SPEAKER_01]: Right? [SPEAKER_01]: So, a lot of speculative money. [SPEAKER_01]: But into this nonsense and got into a Bitcoin ETFs, where do they get the money?

[SPEAKER_01]: A lot of the money and I mentioned it on this podcast, a lot of the money that went into Bitcoin ETFs came out of gold ETFs, came out of gold stock ETFs.

[SPEAKER_01]: There were huge outflows all last year and most of this year, [SPEAKER_01]: the money went into Bitcoin related investments now had they left it in their gold investments they would be better off in fact had micro strategy had michael sailor had he just bought gold or silver every time he bought Bitcoin he would have a bigger profit now than he has on Bitcoin [SPEAKER_01]: And the bigger difference is he can actually sell his gold and cash out with the profit.

[SPEAKER_01]: There's no way he can sell his Bitcoin. [SPEAKER_01]: If he tried, all the profits would be gone and he'd be caching out with big losses. [SPEAKER_01]: But my point is, gold is going up every day. [SPEAKER_01]: Gold stocks are going up. [SPEAKER_01]: I think the people who sold their gold and sold their gold stocks and moved in the crypto are going to want to reverse those trades. [SPEAKER_01]: You know, it's kind of like you're in traffic and you're in one lane.

[SPEAKER_01]: And the lane next to you is move in and move in and move in and you sit there for a while. [SPEAKER_01]: And you're hoping that your lane moves and it doesn't move and you keep watching the other lane. [SPEAKER_01]: And then eventually okay, I'm going to switch, I'm going to switch lanes. [SPEAKER_01]: And then you get into that lane. [SPEAKER_01]: starts to move. [SPEAKER_01]: And now the lane that you move into is now stuck in traffic.

[SPEAKER_01]: And you're like crap, you know, I got to get back into the other lane. [SPEAKER_01]: Well, that's what happened. [SPEAKER_01]: People were in the slow lane for gold because gold went nowhere for over 10 years. [SPEAKER_01]: Right. [SPEAKER_01]: When Bitcoin came on the scene, right, gold was going sideways. [SPEAKER_01]: It was in a consolidation and a lot of people were frustrated because gold wasn't moving.

[SPEAKER_01]: The lane was, they were stuck in traffic, but then they looked over to the Bitcoin lane and it was zooming along and Bitcoin was going up, going up, going up, and gold was nowhere. [SPEAKER_01]: And in fact that was the big selling point. [SPEAKER_01]: Hey, look how much money you would have made if you just bought Bitcoin. [SPEAKER_01]: You're not making anything in gold. [SPEAKER_01]: You got to buy Bitcoin.

[SPEAKER_01]: And so some people after waiting in the gold lane for years for gold to speed up and it never did, they switched over to Bitcoin. [SPEAKER_01]: Well, now they're in the Bitcoin lane and the gold lane is now moving fast. [SPEAKER_01]: and they're going sideways or down in terms of gold, Bitcoin's going nowhere and gold is going somewhere fast.

[SPEAKER_01]: And so I think a lot of those people who had given up on gold and decided to take a chance on Bitcoin, they're gonna say, you know what? [SPEAKER_01]: Bitcoin's not doing anything for me lately, it's not going anywhere. [SPEAKER_01]: Gold is, gold stocks are, I'm gonna get back into that trade, right? [SPEAKER_01]: for a significant number of people who have invested in these crypto-related stocks. [SPEAKER_01]: The problem is they can't get out, right?

[SPEAKER_01]: Because [SPEAKER_01]: The money that came in to these ETFs came in over years. [SPEAKER_01]: It's going to try to come out in days. [SPEAKER_01]: You're going to see some mass liquidations and the market can absorb it. [SPEAKER_01]: We saw that on Friday. [SPEAKER_01]: But what's coming is going to dwarf that. [SPEAKER_01]: The selling that's going to come.

[SPEAKER_01]: If you get 10, 20% of the ETF money trying to come out in the same day, in the same week, [SPEAKER_01]: look out. [SPEAKER_01]: It's going to be a complete implosion of the market. [SPEAKER_01]: And there's a lot of leverage in crypto. [SPEAKER_01]: People think that we flushed out the leverage on Friday, not even close. [SPEAKER_01]: There's so much leverage that is yet to be flushed out. [SPEAKER_01]: That will hit in a much bigger decline.

[SPEAKER_01]: Because Bitcoin still stayed above 100,000. [SPEAKER_01]: You know, so we never really got to margin calls in Bitcoin. [SPEAKER_01]: Maybe we flush some people out of some, some altcoins, you know, some shit coins or whatever, but the Bitcoin leverage is the big gohona and a lot of that is going to be flushed out. [SPEAKER_01]: So I think we're dangerously close to a Bitcoin collapse, because gold has prick that bubble. [SPEAKER_01]: Gold has shown that gold is the store of value.

[SPEAKER_01]: Gold is the anti-dollar trade, is the anti-feat currency trade. [SPEAKER_01]: If you're worried about dollar devaluation, budget deficit trade deficits, gold is what you buy, not Bitcoin, because gold is going up or silver. [SPEAKER_01]: Not only is Bitcoin not digital gold, it's not even digital silver. [SPEAKER_01]: It's digital nothing. [SPEAKER_01]: So I think that any day, [SPEAKER_01]: you can see Bitcoin drop. [SPEAKER_01]: I mean, right now it's at 111,000.

[SPEAKER_01]: So it's still hanging out above 100,000. [SPEAKER_01]: I think holders are very complacent. [SPEAKER_01]: What most Bitcoin people think is like, well, you know what Bitcoin is going to catch up. [SPEAKER_01]: Gold is the first mover. [SPEAKER_01]: Bitcoin is going to follow gold and then surpass gold. [SPEAKER_01]: You know, we're just going to wait. [SPEAKER_01]: It's going to happen.

[SPEAKER_01]: right, but when it doesn't happen, when it goes the other way and said, it's going to be mass a liquidation. [SPEAKER_01]: So again, you know, if you're watching my podcast or my YouTube videos, if you have a lot of Bitcoin, sell, you don't even have to sell it all. [SPEAKER_01]: I'm not telling you to sell everything, but sell something. [SPEAKER_01]: And what you sell by gold, by silver, go to shift gold, [SPEAKER_01]: I was one of the first companies to partner with BitPay.

[SPEAKER_01]: We make it very easy to take your Bitcoin, your fool's gold, and to go to shift gold, and use it to accumulate real gold, real gold, and real silver that are going up. [SPEAKER_01]: You know, when gold hits 6,000, silver should be at least 75. [SPEAKER_01]: If you're going to stay at 80 to 1, right? [SPEAKER_01]: And silver's 53. [SPEAKER_01]: That's a big move, percentage wise, even if you stay 80 to one, which we won't.

[SPEAKER_01]: I think gold, I think silver is going to close that gap, and so the gains are going to be even bigger. [SPEAKER_01]: So if you want oversized gains, you can buy silver instead of gold, and if you want even bigger gains, you can sell your Bitcoin and you can invest in gold mining stocks. [SPEAKER_01]: you can buy the your Pacific Golf Fund. [SPEAKER_01]: You can have a separately managed account at your Pacific asset management and will manage a portfolio of gold mining stocks.

[SPEAKER_01]: You've got much more upside potential in gold mining stocks than you have in Bitcoin and a lot less downside risk. [SPEAKER_01]: Yes, these stocks can go down, but they ain't going to zero. [SPEAKER_01]: Bitcoin can go to zero. [SPEAKER_01]: And of course, look.

[SPEAKER_01]: Even if it doesn't go to zero, even if there's always a bid, because there's always some fanatics that are going to want Bitcoin, even if Bitcoin can hold 10,000, which I doubt, you know, maybe 1,000, maybe you'll have a better chance of staying at 1,000. [SPEAKER_01]: But even if it goes to 10,000, that's more than 90% down. [SPEAKER_01]: So if you lose 90% of your money, it's almost like losing all your money, right?

[SPEAKER_01]: And of course, if Bitcoin goes to 1,000, then you've lost 99% of your money, and that's basically all your money. [SPEAKER_01]: And so when that happens, like most people are going to give up on Bitcoin, right? [SPEAKER_01]: They would have been burned too badly to want to stick with it. [SPEAKER_01]: So you have an opportunity to convert it into real gold, take advantage of that opportunity while you can. [SPEAKER_01]: Anyway, that's it for now.

[SPEAKER_01]: I'm going to Orlando, I'll see some of you at the Orlando Money Show. [SPEAKER_01]: I got a 10, I think 10, 15, or 10, 30 keynote, and then my workshop is, I think, 4 o'clock in the afternoon. [SPEAKER_01]: So I'll be there. [SPEAKER_01]: We're going to have a boot there.

[SPEAKER_01]: I'll be talking about gold, I'll be talking about silver, I was there last year and I did the same thing and so I'll be able to take a victory lap because I was probably the only person at the money show that was telling people to buy gold and silver and to buy mining stocks and I'm going to be saying the same thing only the stocks are a lot higher but they should still [SPEAKER_01]: Uh, be bought.

[SPEAKER_01]: Anyway, so I might do another update on Friday or Saturday on the shift gold YouTube channel. [SPEAKER_01]: In fact, my last video I did on Friday had over 80,000 views. [SPEAKER_01]: That's the most I've gotten on the shift gold Friday market wraps. [SPEAKER_01]: So make sure you subscribe to that YouTube channel. [SPEAKER_01]: We're up to about 30,000 subscribers.

[SPEAKER_01]: I'm still not quite at 600,000 [SPEAKER_01]: uh... to the peer shift uh... channel subscribe tell your friends to subscribe and while you're subscribing go over to shift sovereign and subscribe to our newsletter in fact we have a newsletter also uh... paid one strategic assets

[SPEAKER_01]: We've been killing it with some of our small mining picks. [SPEAKER_01]: It not just in gold, but in other precious metals. [SPEAKER_01]: We've had some really big winters over there. [SPEAKER_01]: So check out not only the free newsletter, but the subscriber base letter where we provide research for you into new ideas that you can incorporate into your own portfolios if you're a do it yourself investor. [SPEAKER_01]: at shivsovereign.com. [SPEAKER_01]: Bye for now.