Expert Speaks on Shortages, Silver, Trump, Musk, Rates (Uncut) 02-07-2025

“Gold is Sounding the Alarm”: Expert Speaks on Shortages, Silver, Trump, Musk, Rates | Mike Maloney

This is normally an inverse correlation. It’s now a positive corporate correlation saying something is wrong. There is something happening right now.

It’s big and you need to be paying attention. China secretly buying up massive amounts of gold 10 times more than officially reported and this is according to Goldman Sachs. 10 times more.

Remember, China lies. If these things are actually happening, all these big positions, that there’s something crumbling behind the scenes and the big players know it and they’re getting positioned, then $3,000 gold before the end of the month is not unreasonable. $5,000 gold before the end of the year could happen and who knows where it could go from there.

Look at this 44 or 45 year cup and handle that has developed and you see that the projected move on this is that triple digit silver. It’s coming. It’s there.

It’s within sight. Silver is set up for the, you know, technically for the most bullish move I’ve ever seen anything. There’s nothing that has a pattern like this on it.

How is this not the greatest investment opportunity of a lifetime? So this is the paper silver ounces that have been created through the commodities exchanges, the futures contracts. There’s 380 people dancing for every chair that exists, but the music hasn’t stopped yet. Overnight in Asia, gold rose to $2,860 an ounce.

Asia is now cleaned out. COMEX participants are demanding physical London is cleaned out and there’s a run on the Bank of England’s vault. 53 years of fiat is coming to a shuddering halt.

I want to thank Alistair McLeod. He’s a great analyst and a great writer, but what’s he talking about? Something really, really big is happening right now. Big smart money investors are awake and taking positions while the small retail investor is sound asleep.

So what’s happening right now? This is the Brinks depository. So it’s a COMEX vault. So this is the New York Brinks depository of eligible gold stocks.

And Rafi Farber writes, this is insane. Eligible gold stocks at the Brinks vaults have rocketed to 4.92 million ounces in two weeks, way past the previous all-time high of $3.5 million peak of the COVID lockdown panic. So this is the line of where, you know, this is just a couple of weeks here.

So you can barely even see that line, that it’s right up here at 4.9 million ounces. Where was it in November? About 490,000 ounces. It is up tenfold since November.

And all of this accumulation has happened in just a couple of weeks. Holy dollar sign pound exclamation point plus. So what is eligible gold stocks? I’m going to talk about that in just a minute, but something is going on and it’s big.

Something extraordinary is taking place in the gold vaults below Manhattan. There’s an unprecedented shortage of bullion in London. And the weight to withdraw bullion stored in the Bank of England’s vaults has risen from a few days to between four and eight weeks, according to people familiar with the process, as the central bank struggles keep up with demand.

So liquidity in the gold market is drying up. Margin calls on gold swaps triggered the 1990 bankruptcy of Drexel Burnham Investment Bank. Central banks that had swapped gold to Drexel lost it all.

Gold swaps are the unreported secret vulnerability of central banks. This is from Kathleen Tyson responding to Chris Marcus. The bullion banks have to borrow gold from the central banks in order to meet deliveries.

This is from Reuters January 29th. London bullion market players are racing to borrow gold from central banks which store bullion in London following a surge in gold deliveries to the United States. So there is really something big going on.

I promise to define the difference between eligible gold stocks, the blue, and registered, the red. Eligible. For any COMEX vault, commodities exchange vaults are vaults that are that pass certain standards that are within a certain radius of the commodities exchange.

I believe there’s like 12 of them. I think there’s eight current participants, something like that. But the registered is gold that is currently registered and available for delivery into a futures contract.

The eligible is any gold that flows into that vault that meets the requirements to be delivered into a futures contract. A certain hallmark, you know, it’s got to be from an eligible list of refineries. It’s got to be a certain purity and it’s got to be a certain weight, like kilo bars and hundred ounce bars of gold are deliverable into these contracts.

So what you see here is that 2017, 18, 19, the registered stocks got very, very low. And I believe this was an area, there was one time where the number of ounces being traded on these exchanges. Now everybody thinks that they have the right, that they are entitled to take delivery when they’ve been promised a futures contract.

They bet on this futures contract. They can either take delivery or settle in cash. And there was one time when I believe the ratio was like 500 ounces of paper gold sold into the market compared to when maybe that was on silver.

But sometimes these ratios are incredibly high. So what you’ve got is a musical chairs game going on. And very often, there are tens or even hundreds of people dancing for each chair that exists.

And luckily for the Comex, the music did not stop playing. They were able to keep the music playing during this COVID panic. Now, this has happened before.

So when you take the registered and the eligible, put them together, there’s about 30 million ounces of gold in those vaults. These are the inflows during COVID. These are the inflows in this chart is already old.

So I don’t know where this is now, but it’s probably up here somewhere. It’s happening at lightning speed. And this has happened before.

This is an echo of the past. If you really want to understand it, you need to read chapter nine out of my book, The Great Gold and Silver Rush of the 21st Century. And I’m going to make this chapter available for free.

So you can go and read it. It’s only three and a half pages long. This takes a few minutes to read.

It is a very in-depth investigation as to what was going on at the time, but things were changing very fast at the time. But when you read it, there’s these charts in it. This is total gold stocks.

So it’s the eligible and the registered, and then what flowed onto the exchange in those massive inflows. And this is all data that was provided. Nick Laird of Gold Charts R Us.

I have to thank him once again. He sends us his raw data so that we can make these charts in any format that we want. And then here, what we did was we took the gold stocks with the massive inflow, and then the inflows stop.

And so from that date, we just took the outflows, we put them down here and put a little flat spot in there, pretending like there were no massive inflows. And so it shows what would have happened. They would have reached zero had there not been those massive inflows.

If they reach zero, back then gold was, it started 2020 at, I believe, about $1,500 per ounce. And during these inflows, it was $1,700 to $1,900 an ounce. So I picked $1,800 as a median.

And that means that $55 billion worth of gold just suddenly showed up in the commodities vaults. $55 billion. And then I’ve got the outflows in here as well, measured in ounces and in dollars.

But I sort of extrapolate from there and come up with theories as to what was going on. Now what this doesn’t have, there’s a bunch charts that we generated that did not make it into the book. This one shows the registered, so available for delivery into futures contracts.

There used to be far more registered than there was eligible, going way back here. And then it dwindled to almost nothing, which was a very dangerous situation for the commodities exchange to allow themselves to get into. And that’s what required this response.

If this had kept on going, gold would have shot up from under $2,000 to over $5,000 instantly. It would have happened very, very quickly. Now the reason I show this Chinese gold reserves chart is I just want you to remember throughout this video, the Chinese officials, the Chinese government, so China, lies flat out.

This is proof. This chart has the lie is written all over its face. It’s saying that they accumulated some gold back in the late 70s, and then it went flat, and they accumulated a little bit more in the early 2000s, and it went flat.

And then they accumulated almost 500 metric tons of gold in 2008, and 600 in 2015 or 16. Well, that would have caused the gold price, if that had actually happened, the gold price would have shot up huge. So from this chart, you can just say, it’s a lie.

Everything they’re telling us is a lie. And what’s really happening is they’re accumulating, and they’re accumulating, and it’s actually way off the top of this chart. You’re going to see how this plays into all of this in a moment.

This is Nick Laird’s data once again. This is one of his charts. It’s Chinese gold imports.

Now to write that chapter, I did a very in-depth analysis of all of the world flows based on Nick’s data of where gold was flowing from and to, and it was interesting. During those massive gold inflows, the entire flows of gold around the world just suddenly went into reverse, and everything from all over the world was going to the United States. A large part of that came from China pausing its gold purchases.

Now you see the gold purchase imports in 2020 here, and so in February, March, it just like almost shuts off. Now I can hear a bunch of people out there saying, well, that’s just the lockdowns, that’s COVID. Okay, well, then it should have affected silver as well, and these are the silver imports, and what you see here is a big spike in the last half of 2020 versus, you know, take a look at the difference in those.

Now there’s another chart that didn’t make it into the book. Nick Laird said we annualized the data. He sent us all the data, but there’s more data in this chart.

Those are China, the Shanghai exchange, and so on. We included Hong Kong as part of China now, and we included Hong Kong, which does do export. Mainland China exports almost no gold.

There’s just a little bit that comes out of a trickle. They import massive amounts all the time, and so what we’ve got here, this is probably a lie. There was a lot more that flowed in, but for the first time in the history of all the data, there were net outflows from China.

So who has the power to convince China? Since they were importing silver during those months, and silver was no problem, who has the power to convince China to stop buying gold so that it can all flow over to the commodities exchange to prevent a force majeure, a default on the commodities exchange? Well, you know, there’s some big bullion banks. One of them that comes to mind is like J.P. Morgan. They have offices on Wall Street.

They are a bullion bank, so they are a supplier. They know everything that is going on. Now they’ve also got offices in Shanghai and in Hong Kong, and so could it be? This is speculation, but this wasn’t like the President of the United States calling up China and saying, hey, pause your gold purchases.

We need all the gold. That’s not going to fly, but the bullion bank is saying, hey, if you don’t help us out and slow down your gold purchases, and you’ve been accumulating all this gold, if you want to be able to continue accumulating gold at sub-$2,000 prices, you better help us bail out the COMEX, because if it has a force majeure, you’re going to see gold $5,000 plus, and then all your plans of accumulating these big gold reserves are going to cost you 10 times as much. And once that happens, there probably would have been a runaway.

So let’s dig into this a little bit further. This is 2024 Swiss gold exports. Why Swiss gold? Swiss gold has a lot of refineries for gold there.

It’s one of the major hubs of the world. So the rest of the world that mines gold sends gold to Switzerland to be refined and poured into bars like PAMP Swiss, Credit Suisse, stuff like that. So for all of 2024, China, 154.8 metric tons of gold went into China.

And I’m just going to round, 155 tons, it’s close, I’m sorry, 355 tons. U.S., 100.5 tons. Now this is for the entire year.

Now let’s take a look at just December. So in December, 64.5 tons went to the United States. Now, that leaves out of that 105 tons, there’s 36 tons left for the other 11 months.

Divide the 36 tons into the months of January through November, and you find that the U.S. on the average imports 3.3 tons per month. China only imported four tons in December of 2024 from the Swiss refineries. So Swiss refineries exporting four tons to China.

Now, if you take that number of 354.8 minus the four tons for that last month, you’ve got 350.8 tons divided by the 11 months, and you’ll discover that China on the average imports about 32 tons of gold every month. We import 3.3 tons. So the 32 minus the four that they actually did import means that they gave up importing 28 tons of gold.

So of this 64, 28 tons came from China pausing their purchases so that Switzerland could send it all to us. Now when I analyze this for the 2020, the entire world, Nick has data that shows every country that’s where Switzerland is importing gold from, and normally like the United States, is always a net exporter to Switzerland. We send them a lot of gold ore and bars that are not in some hallmark type of bar, some commodities exchange bar.

We send them all of those bars of refined and dore bars and things like that. Dore has some pollutants in it. It’s not pure gold.

It’s like 92 percent, and the Swiss refineries refine it, and they send some back. And we are always, when you take what we get back, you take what we’ve sent minus what we get back, we are always, always, always a net exporter, except for those months of those huge gold inflows at the beginning of the COVID panic, and right now. Something big is happening right now.

You can get all of this data and dig further into it if you wish. Gold charts are us. Sign up for a subscription.

Nick could use the help. This is another one of his charts, and this is weekly transparent gold holdings. So it’s the published repositories.

These are the COMEX vaults, mutual funds and ETFs, and what you see here is mostly outflows until this year, and then inflows, and then big inflows. Now you look at what the, you know, these are purchases. The blue is investors purchasing gold, and it’s being stored.

The red is investors selling gold, and so this is flowing in, and you look at these lines, and typically, you know, they would average somewhere, if you average all the blue lines together, with the exception of this one that exceeded one million ounces, it’s like the average is about half a million ounces. So this week here, which is the week ending January 24th, is six times the normal purchases that are going on. Now, you know, gold was going sideways while falling, but you look at this price increase here led to this accumulation here.

The price increase normally leads the accumulation on the exchanges and in the ETFs. This price increase led to this, so it’s this accumulation leads to this increase in ounces in all of these vaults, but it was triggered by this price increase, and then gold went sideways, and then it starts going up. Price increase, while it’s still falling, reaches a minimum, and gold has been going sideways.

Yes, it’s almost up at 2,900 now, but look at the scale of this increase, these inflows. The big smart money is taking positions, and we see this at my company, goldsilver.com. Just like the whole rest of the small investor retail industry, the sales are down 30 to 50% of what would normally be happening this time of year, where our wealth division is making these enormous sales to just a few investors. So the big smart money is taking a position, the small retail investor is going to get slaughtered because he’s asleep right now.

I’m going to be very blunt here, and I just think that anybody that actually thinks that they are investing in gold, buying it on their brokerage platform, if they’re buying it through their brokerage house, it’s most, I mean, these ETFs, right in the perspectives, it says that under certain market illiquidity conditions, the price of the shares may diverge from the price of the metal and fall. And so that’s an admission that they are not the same thing. Look at this high correlation of the metric tons and the price.

The price is in blue, and the tons in these vaults that are supposed to be owned by the ETFs tracks it. The correlation is extremely high until late 2022, when it’s diverging. And I think anybody investing in these ETFs is an absolute fool.

I’m sorry, but look at what is happening right now. This is big. Why did gold decouple from gold ETFs in 2022, just as central banks unleashed a record gold buying spree? Central banks are also big smart money, except Canada and England selling half their gold at the very bottom.

So Kobayashi letter, keep watching gold. Gold prices are now up 40% in 12 months as the US dollar and interest rates are up sharply. This is normally an inverse correlation.

It’s now a positive corporate correlation saying something is wrong. There is something happening right now. It’s big, and you need to be paying attention.

So China secretly buying up massive amounts of gold 10 times more than officially reported. And this is according to Goldman Sachs, 10 times more. Remember, China lies.

And so this is a very good article that you should also read. I’m not going to go through it. A lot of the charts are duplicates from the first article that I showed you on Zero Hedge.

Moving on. So from Egon von Greyer, if you’re wondering why 400 metric tons of gold has left London for the Comex warehouses since the November Trump victory, the answer is simple. The post Basel III Comex needs more physical gold to meet rising investor demand for physical delivery rather than the standard cash rollover plays of the past.

So it’s that demand for physical. Everybody is positioning themselves for something. They don’t want to be one of the people that still dancing when the music stops.

They’re taking their seats right now. Trump says a deal reached to delay tariffs on Mexico. Same thing happened with Canada for one month.

However, the tariffs on China were implemented. It was 10% tariffs, and China retaliates with tariffs on some U.S. goods and a probe into Google, which doesn’t really matter. But tariffs on some U.S. goods, and they retaliated with 15%.

So this is a tit-for-tat thing. Now, this is extremely dangerous. Trump, you know, with Canada and Mexico, his negotiating tactics and trying to gain some leverage has worked for whatever deal he’s trying to reach.

Now, the markets think that this will be temporary too, and I hope it is. Tariffs, he doesn’t understand economics. The people that like tariffs think, oh yeah, China’s been stealing this industry or that industry.

We need to tax China. You’re not taxing China. You’re taxing, I mean, you can’t impose tax on Chinese citizens.

You can impose a tax on the goods they ship over, meaning you’re the one that pays the tax. Your televisions and your stereos and your iPhones are going to all rise in price. Everything made in China that we’re trying to tax is going to rise in price.

You are the one paying for it. Now, there is a quote. I’m going to paraphrase the great Frederick Bastiat.

He basically said, borders which goods and services do not cross armies will. This is the second reason that we don’t want tariffs. It not only violates some fundamental economic principles, it makes a world far less likely to be peaceful.

If you want peace, you want international trade. It’s very hard to get in a war with somebody whose economy you are also depending on. When you’ve got this international trade going on, war is less likely, peace is more likely.

We want international trade. The last reason is that when the tariffs are imposed, trade slows down. That is global GDP.

Do you want a global recession? Because that’s what this can trigger. If we get into this situation where the whole world is doing these protectionist tactics, because this is what happened, this is part of what triggered the Great Depression, what made it so bad. I mean, Milton Friedman said that the Great Depression should have been just a very severe but short recession.

It was the Federal Reserve and the actions of the U.S. government that turned what should have been that short recession into the Great Depression. Part of it was all of the beggar-thy-neighbor currency devaluations, they are called, and all of the tariffs that were imposed as country after country became more and more protectionist. World trade slowed down.

Now, the percentage of our trade that is global is far, far greater than it was in 1929 and 1930. It was a small percentage of trade that was international. Now, it is huge and doing this can cause a global recession.

If it’s coupled with a recession that was going to happen here at the same time, then it’s really bad. So, Trump crying wolf on tariff over tariffs already convinced Wall Street that threats will be short-lived. So, they’ve already priced into the market that they think that this is a negotiating tactic that Trump is pulling here and that it will be short-lived.

I hope so because this is incredibly dangerous. Everyone should listen to this interview. Trump is telling you exactly what’s going to happen and it confirms a few things.

Interest rates will rise. The dollar will strengthen. He’s cutting off dollars from nations who work hand-in-hand with China.

It will get worse. This is very dangerous. Jim Rickards says Trump threatens 100% tariffs on BRICS members who replaced the U.S. dollar with a new currency.

Flash! They already replaced the dollar, not with a new currency, but with an old one, gold. Trump and his advisors don’t understand the gold part. Too late.

Okay, the gold part that they’re talking about is as a reserve currency. All of these countries have been accumulating gold in their reserves. So, Elon Musk, reducing the federal deficit from $2 trillion to $1 trillion in fiscal year 2026 requires cutting an average of $4 billion a day in projected 2026 spending from now to September 30.

It would still result in a $1 trillion deficit, but economic growth should be able to match that number, which would mean no inflation in 2026. Super big deal. Now, Elon Musk understands economics a whole lot better than Trump does.

However, this is still dangerous. The thing that he shouldn’t be worried about is inflation. He should be worried more about deflation.

We’re overdue for a recession. I’m going to show you that in a minute, but I love the fact that this administration is cleaning house, that our government is being turned upside down. I love the fact that Elon Musk and the Department of Government Efficiency is cutting out all of this idiotic government waste and graft and everything else that has been going on, because we’ve got a lot of crooked stuff going on.

It’s all being unveiled right now, and we’re seeing this stupid, wasteful spending. But that stupid, wasteful spending is still paying people, and those people buy groceries and gasoline. So, it all ends up as part of GDP.

And if you cut a trillion dollars a year out of GDP, as we’re vulnerable for a recession, what has to happen is they need to unleash business, the power of the private sector, especially small business, all those small businesses that folded during COVID. We need to bring those back by getting rid of a whole lot of regulations, a whole lot of stupid laws, a whole lot of compliance, a whole lot of tangled up taxation laws that make it very, very difficult for businesses to start and to be in business. And we especially need to do this for small business.

We need to grow the private sector at a faster rate than we’re cutting the stupidity and the waste and the graft out of government. If we can do that, we will avoid a recession. But, you know, right now, all countries on earth are so interconnected that if China has a big recession, we are too.

If we have a big recession, so is China. Every place is vulnerable right now and like teetering on the edge. And so, this could cause these next things to actually happen.

So, this is, I’m going to go full screen with this chart. This is the 10-year treasury yield minus the two-year treasury yield. So, this is the yield curve.

The zero line is where they’re yielding the same. And when it goes below, the people loaning the government currency for a long period of time are less worried about the economy and and demanding less interest than the people that are loaning their currency for a short period of time. That means that they call these the bond vigilantes.

They’re very good at looking into the future and predicting what the future is going to be. And so, that means that they are worried about what is going to happen in the economy in the short term whenever this goes below zero. And it goes below zero.

And back here in the 80s, you see that that predicted the recession. The recession happened and then it reverted back to positive yields in the middle of the recession. It goes below.

It predicts another recession. The recession happens and it reverts in the recession. But then in the 90s, it changed.

It goes below, predicts a recession. It goes back above. It reverts.

And then the recession comes along a little bit later. It goes below. It reverts.

The recession comes along a little bit later. It goes below. It reverts.

The recession comes along a little bit later. And amazingly, it went negative. It says zero here.

But if you zoom up on this, it actually does go negative in 2019. And then we have this short recession. Well, this is one of the longest inversions in history.

And I’m pretty sure that there’s a whole lot of different treasury spreads that can be measured because there’s a whole bunch of different maturities. And you’ve got to measure one against all the rest of them, the 30-year bond, against the 20, the 10, the 7, the 5, the 3, the 2, the 1. And then there’s notes that are in months. And you’ve got to compare each one to all of the rest of them.

And I believe that this is the only inversion where all of them were inverted. Every spread that you could measure had an inversion at some time or another. And so this was very, very severe inversion.

And we are just six months from the reversion. So look at that period of time. Look at this period of time.

Look at this period of time. This is about nine months or something. Yeah, that’s three months.

This is about four months, I think, three or four months. And so we are due for a recession starting like now or next month or the month after. And we are pushing these things with cutting all of this waste out of the government, but that waste does feed into GDP.

And so they’re walking a tightrope here. They have to be very careful. People don’t feel like buying a home, buying conditions for housing as surveyed by consumers.

So the consumers are doing the survey. This isn’t labeled correctly. Buying conditions share reporting good conditions minus share reporting bad conditions plus 100.

I don’t actually get it. But what I do get is you can look at the recessions going all the way back to 1960. And every time this thing falls, recession, it falls, recession, it falls, recession, it falls, recession, it falls, recession, it falls, false flag.

One false flag in all of this data going back to 1960. It falls, recession, it falls, recession, it falls, little tiny short-lived recession, and it falls, and it falls, and it falls, and it falls, and it falls. What do you think happens next? Moving on, where am I here? Single family houses sold per year measured in the millions.

U.S. home sales tanked to the lowest number since 1995 when the U.S. had 80 million fewer people. And so if you adjusted this to account for the difference in the population, if this was measured as a percentage of the population, this would be the lowest bar on record. And so moving on.

Holy crap, this is third world kind of stuff. Powell is going to be forced to start the big print. Yes and no.

So this is the amount of debt that’s maturing this year that has to be paid. But what happens? They will issue $10 trillion worth of treasuries and roll a bunch of this over, and all of these years will grow. And by the time we get to 2026, this bar will be way up here.

And by the time we get to 2027, this bar will be way up here. And by the time we get to 2028, this bar will be way up here. And so that’s the way this works.

So it’s a yes and no thing. The big print, this absolutely is third world kind of stuff. I have no idea what… I mean, it is great that we finally have somebody in there cutting costs, getting rid of waste, and getting rid of graft and the stupidity.

But we are walking a dangerous tightrope, and we are overdue for a recession. Real-time picture of a guy who sold all risk at the top and is in $350 billion of cash right now. Old man outfoxes young quants once again.

So I started putting together this presentation five days ago. And back then, Gold had broke $2,800. And now we’re about to break $2,900.

I mean, I would not be surprised to see $3,000. If all of this stuff that I’ve been putting together here, stringing together for you, if these things are actually happening, all these big positions, that there’s something crumbling behind the scenes, and the big players know it, and they’re getting positioned, then $3,000 gold before the end of the month is not unreasonable. $5,000 gold before the end of the year could happen, and who knows where it could go from there.

So this is Tavi Costa once again. I consider him a friend. He’s a great guy.

World is experiencing a real-time history lesson on the significance of gold. And what he’s done here with this chart is he’s listed the fundamentals that were under this bull market, the fundamentals propelling this bull market, and the fundamentals right now. Now, the one thing that I disagree with with a whole lot of analysts is, like Tavi is considering this one bull market, I consider it one bull market as well.

A lot of analysts say this bull market, and then this bear market, and this bull market, and they will say this bull market, and this bear market, and this bull market. I believe, just like Tavi listed here, first gold cycle, this is just a mid-cycle correction. To me, this is also a mid-cycle correction.

I’ll have an update for you on this in the next video, but gold is storing a whole bunch of energy right now. And he’s got this question mark right up at $5,000. And I think that this is sort of a minimum target, actually.

It all depends on what happens, how big the panic is. You need to read. I’ll get to that in a second.

But so here is the lunatic conspiracy theorist end-of-worlder investment, gold, as compared to the investment that you’re supposed to be in. The sound, standard, rock-solid investment of the S&P 500 that has counterparty risk and is vulnerable to everything in the economy. Gold is up over 1,000%.

It was 253 bucks back at its low in 1999, and now it’s pushing 2,900 bucks. The S&P up a little over 300%. So gold has outperformed the stock market by a factor of three in this century.

If you bought the right stocks, the ones that are propelling all of this while the other ones are dragging it down, then you have done well in the stock market. I have been in this. I started buying right here.

I continued buying. I discovered silver in here. And I’ve been a buyer, and not a seller, the whole time.

And I was pretty much 100% in precious metals until I started buying Bitcoin as well in 2014. And then I started buying gold stocks and Tesla. And I have some Tesla Roadsters, which I believe are going to be 10 baggers.

It’s a car that changed the world, and people don’t realize it yet, but they will one day. So I have Tesla stock, Tesla Roadsters, some gold and silver exploration and mining stocks. But my biggest position is precious metals.

And look at what has happened here. I’m doing very well. This was really hard to take.

It was hard to get through. But then when I saw the patterns, this was making this cup, the triple top. And when it made this top and pulled back, I told everybody, this is probably making a cup and handle, one of the most bullish formations.

It made this top and pulled back. And then it made this top. And when it started to pull back again, I went, oh my God, triple top.

And this is probably making an inverse head and shoulders pattern, which it completed. I showed that to everybody. And I said, once it breaches the neckline, it’s going to be a slingshot move.

And that is exactly what we got, the slingshot. So here’s a 20-year chart of gold, cup and handle again, and the triple top and the slingshot. Here is from the bottom, just to show you the move from the bottom in 2015, the bottom of the cup, the end of 2015.

Gold was $1,050, and now we’re approaching $3,000. So it’s almost a triple since the end of 2015, beginning of 2016. This is some pretty amazing stuff for a tinfoil hat investment.

I urge everybody, I’m not going to go through this article, but it’s an excellent article. I urge everybody to read it. You could either do a search on the name there, but just go down into the notes below this video, and we’ll include a link.

So read that. It’s very, very important. Silver demand.

So I’m turning a little bit more towards silver, and you’re going to see why toward the end of this video. This is 2015 versus today. And we’ve got electrical and electronics up 20% roughly.

Photovoltaics up almost 300%. Net physical investment. So where is this supply coming from? Net physical investment.

Investors down 31.5%. Jewelry, I don’t really care about, up 4.5%. Other industrial demand, I do care about, up almost 30%, because these things are all going to expand, and they’re the biggest part of the market. I don’t care about silverware, brazing alloys and solders, and photography. This doesn’t have that much of an impact anymore.

So this silver market faces third consecutive deficit in 2023, despite 7% price increase. Now as prices go up, it causes more people to go out and look for gold and silver, and it causes more mines to start operation, but it can be somewhere between like 7 to 20 years from discovery to production. It doesn’t happen right away.

And that delay is what causes these super spikes. There’s just not enough, and the supply can’t possibly meet demand until the price sets an equilibrium. And this shortage, here’s the supply, here’s the demand, and 2024 was higher than 2023.

I know it was. Those numbers aren’t in yet, but we are set up for something really spectacular. So weekly transparent silver holdings, what is happening? So it was mostly being sold up until April of last year.

So these sales and these outflows from all of the depositories and the ETFs is what was supplying that extra industrial demand. And now there’s an accumulation going on, but the price has not really reflected it yet. And the accumulation that was going on in gold, if you recall, dwarfed any previous accumulation.

That hasn’t even started yet in silver. And so where do you think the big opportunity is? Tavi Costa again, traders are currently swapping futures contracts for the actual physical asset at record levels, and he’s talking about silver here. People are asking for deliveries and it’s gone.

Before this spike, these charts are usually auto scaling. And so the chart would have ended at one. So this spike was actually off the charts for the previous chart before that week’s spike.

And so now this is scaled. But is this going to stop or is it going to increase? If it increases, the silver and gold isn’t actually there. And so we can see some very big moves very quickly.

Now, back in 2008, this is 2008-2009, when the stock market crashed in 2008, so did gold and silver. They went along for the ride. The futures, this is the spot price, which is set by continuous contract, end of day, it’s the commodities exchange.

So it’s the contracts. That’s what sets the prices, the paper ounces that are sold into the market. People were liquidating positions.

The spot price went down below $9. A friend from Chicago called me and goes, oh my god, I was just at the local coin dealer and they’re selling 100 ounce bars for $18 per ounce, a 100% premium over the spot price. I then went on to eBay and checked all of these prices.

And there were silver eagles going for more than $30 each, $30 an ounce while the spot price is below $9. That is the difference between futures contracts, ETFs, all of this fictitious gold and silver and the real physical stuff. When the real physical stuff is running out, when it’s in shortage, the spot price has nothing to do with the price of gold and silver anymore.

It’s sort of guidance. But you see these huge divergences. So Rick Rule put up this, now these are monthly averages of the gold and the silver price, but they’re overlaid here.

And you don’t see a cup handle, but you see this giant cup and handle in silver that didn’t exist in gold. Here’s the cup and handle that was over the past 12 years for gold. And then it broke that triple top neckline and did the slingshot move.

Silver has a very tilted cup and handle and it broke that. There’s not that much resistance and it’s really old resistance here. This is 12, 13 year old resistance, but there are people where the silver gets up to a price they bought at like 35 bucks an ounce, 40 bucks an ounce, and they go, oh, I’m back to even.

And they sell after that 13 years, not realizing they’re not back to even, there’s been inflation since. But they should just hang on because if they do, they’re going to be rewarded. Once this shoots up and it’ll bounce off of the 48, $50 price area, and once it exceeds that, we are in for that triple digit silver that I’ve been talking about for so long now.

But when you look at this, look at this 44 or 45 year cup and handle that has developed, and you see that the projected move on this is that triple digit silver. It’s coming, it’s there, it’s within sight. So how is this not the greatest investment opportunity of a lifetime? So this is the paper silver ounces that have been created through the commodities exchanges, the futures contracts.

There’s 380 people dancing for every chair that exists, but the music hasn’t stopped yet. So the silver, the tilted silver cup and handle, this is a 20 year chart. The end of 2015, just like that gold chart.

Now, the gold was the lowest here. Silver had a deeper crash during the COVID crash, it was affected more. But the gold silver ratio spiked all the way to 120.

So silver’s value was 1 120th of an ounce, 1 120th that of an ounce of gold. Now, I did not catch the very bottom, but I did make some purchases at about 1 110th of an ounce, which puts me down in. So those purchases, I was able to make right in this range and look at where we are already.

And you ain’t seen nothing yet. But baby, you ain’t need to forget it. 50 year chart of gold, no cup and handle.

50 year chart of silver, giant cup and handle. Silver is set up for the, you know, technically, for the most bullish move I’ve ever seen anything. There’s nothing that has a pattern like this on it.

So for technical analysts, so gold at new all time highs. So gold is set in the its price is measured in dollars. And then for every country.

So this is countries experienced gold at new all time highs, you have to do the currency conversion. If the dollar is gaining, it means that gold is even more expensive in their currency. So the latest was 155.

I believe there’s like 163 countries. And you can see that there were a couple of times where it exceeded 160. But we’re we’ve got this cluster going on, like we had back in this was when gold peaked in January of 1980.

This is all countries on earth, it was setting record highs, when it came off of being manipulated in the 70s. And we ended the Bretton Woods system, record highs in every country on the planet. 155 out of I believe 163 or 165 countries.

So this is big news. What about silver? Latest? Zero. No record.

There were some last year. And then there were some during the spike that happened in 2011. And this super spike from January of 1980.

Lots of I mean, every country on the planet experiencing all time highs measured in silver. This year so far, none. Where do you think the opportunity lies? I believe that silver is destined for the biggest things.

I believe that you are going, you know, let’s take a look at the gold silver ratio. Now I made these charts. This is the end of January.

That’s how long I’ve been working on this presentation. Silver is back up at about 90, right? 190th of gold’s price. So it’s lagging gold.

But you got to look there was like a couple of days here, maybe a week there, a couple days here and here and a week there. And so let’s take a longer term. Look at this.

I’m going to go to macro trends. And for their chart, it’s up at above 90. And you see these few weeks and these few weeks and maybe a year there.

So you’re talking two years of opportunity. This chart is 110 years of the gold silver ratio. And only two years of that had this opportunity where you can buy gold at 190th of silver at 190th of gold’s price.

Now, there’s a mean in here. And there’s always mean reversion. And it’s been storing energy and tilted out of that mean for a very long time.

Now, if you add the thousand years before this chart, you go into when we were using gold and silver as money, and it was at 15 or 16 to 1. It was pegged all around the world in the US. It was 15, 16 to 1. And it hit 14 to 1 in 1980, I believe, because it’s been so skewed for so long. And because of all these charts that we’re probably in for 10 to 1 or even higher valuations of silver.

And so at 90 to 1, that means silver will outperform gold by a factor of 9. And gold will outperform the dollar because the dollar, the currency supplies around the planet have been so expanded, but gold is limited. So there’s this chapter to really understand what is going to happen in this gold bull market. You need to read chapter 7 in Normandy Squared and take a look at all of the evidence and the data.

And then you try and add it up at the end here. And I’ve read this before. I’m going to have to put on some glasses here.

Hang on one second. So January of 1980 versus today, we have 18 times more people around the world that can legally buy or afford precious metals. We’ve got 55 times more currency on the planet, 56 times more millionaires, 200 times more billionaires.

And all of this can come chasing a pile of gold that’s just a little bit bigger than it was back in 1980. So the final paragraph of this chapter, I believe that for every ounce of gold and silver you own today, you are going to be able to buy many, many times more stocks, bonds, real estate, businesses, and just about anything else you want or need. One day, the precious metals are going to amaze everyone.

Make sure you come back and reread this chapter once gold goes soaring past $3,000, $5,000, $10,000 per ounce and never looks back because the great gold and silver rush of the 21st century is absolutely going to take your breath away. And it will. You need to see the body of evidence, that list that Tavi had of the things that are propelling this gold bull market is only a fraction of all of the things that should propel gold to these astounding heights.

And so don’t get the book, get the book, but it’s available on Amazon. I really do think that if you haven’t read it, this is information that anybody interested in preserving and growing their wealth really needs at this moment in time. So overnight in Asia, gold rose to $2,860.

Asia is now cleaned out. COMEX participants are demanding physical. London is cleaned out, and there’s a run on the Bank of England’s vault.

53 years of fiat is to a shuddering halt. The alarm is ringing. The general public is asleep.

The big smart money is awake, taking a position. Something is going to happen. Something is up.

It is time to wake everybody up because the alarm clock, the alarm bells are ringing. Some people are deaf to it, but for the ones that can hear, it is a deafening volume. And so anybody that you care about, your friends, your relatives, if you care about them, wake them up.

Try and get them to watch this video. There’s something happening. There is a wealth transfer going on, and you will not be on the sidelines.

If you are just sitting in cash and you think that means you’re on the sidelines, you’re not. If you’re in cash and that same cash is now, if gold is $3,000 or $5,000 an ounce, and silver is $300, $500 an ounce, your cash has lost value compared to that silver, and there will be other things that it loses value against. Not as dramatic as what is about to happen with gold and silver, but there is a wealth transfer nonetheless.

It is impossible to stand safely on the sidelines. You are exposed no matter what decision you make. And so I hope that you investigate this and that you make a decision and that the alarm is going off.

It’s time to wake up and protect yourself and prosper. I hope that you do well. Please investigate this.

This information is really important. I want to thank you for watching. We’ll see you next time.