GOLD: Dollar COLLAPSE Is A Process (Uncut) 03-08-2025

GOLD: Dollar COLLAPSE Is A Process, It Is THAT Obvious | Taylor Kenney

If you truly believe, again, that gold is true money and that the U.S. dollar is failing, which is a proven fact, that it is losing its purchasing power, if you buy 100 U.S. dollars and hold those U.S. dollars, they’re never going to be worth more than what they were today, right? But gold will be worth more. Dollar collapse, the collapse of the dollar, which again, I think there’s a lot of misunderstanding around that it’s this event that the United States is going to default tomorrow and the dollar is going to collapse, and anyone who says that is alarmist and extremist. Hello and welcome to Soar Financially, a channel where we discuss the macro to understand the micro.

My name is Kai Hoffman. I’m the Ed.J.R. mining guy over on X and of course, your host of this channel, and I’m looking forward to welcoming a new face to the industry and a new face on the interview circuit here. It’s Taylor Kenney.

She’s the economic journalist over at ITM Trading, and I’m excited to have her on. I briefly met her in Vancouver at the Vancouver Resource Investment Conference. I watched quite a few of her videos, so I’m excited to have her join us today.

Topic wise, we will be focusing a little bit on the macro, what is happening in the U.S., what’s happening in the economy, and then we’ll focus on gold. More on the micro side today. What’s shaping gold price right now? Which way is it trending? What’s the overall outlook? What are some of the most exciting trends in gold right now? And Taylor will put some color around that for us, so I’m really excited to have her speak to us, speak to you today.

Before I switch over, please hit that like and subscribe button. Helps us out tremendously, grow the channel, invite fantastic guests, and we just appreciate it. So thank you so much for that.

And now, Taylor, it is great to have you on the program. It’s good to see you. Thank you so much for joining us.

Awesome. Thank you so much for having me, Kai. I’m very excited to be here.

Yeah, really excited for this. As I’ve mentioned, you’re a bit of a fresh blood, you know, fresh breath, or new breath, or whatever you call whatever the saying is here in the industry. All of the above.

It’s great to have you. Taylor, maybe before we dive into, you know, status of the economy, gold price, and all that, maybe we’ll start with your personal gold journey first, because I’m curious to learn more. Who’s Taylor Kenney and why gold? Yeah, absolutely.

You know, it’s funny, because I grew up actually with a family that was big believers in sound money. I actually bought my first truck, a funny story, with a gold coin, which was a great decision, because at the time for the person I bought it from, right, if I’d paid US dollars, they’d be worth a lot less now than that gold coin is from the time when I bought my first beat up old Chevy. But that being said, it wasn’t until a couple of years ago, I have always had a passion for emergency preparedness, kind of led me down this rabbit hole of financial preparedness, because the two overlap quite a bit.

And again, that really kind of reinvigorated my passion around gold, silver, and sound money. And the more I started kind of going down that rabbit hole and pulling on different threads, I just started to realize how big and interconnected the world is. And I felt this burning desire to make sure that I could help other people understand, because I feel like a lot of times people may get overly complicated.

And ultimately, most people just want to understand what’s going on and how they can protect themselves. So that’s kind of my, I guess, quick summary background and why I’m passionate about what I do. It’s not getting easier out there either.

So it is easy to go over complicated things, leave emotion out of it. And just every every morning waking up, it’s really difficult to make sense of what is happening and trying to figure out what what direction things are headed as well. Which leads me to my real first question here, Taylor is like, what’s your assessment of the economy right now? What’s the state? How are you feeling about it? Yeah, absolutely.

I mean, something I’m really passionate about that I talk about a lot is dollar collapse, the collapse of the dollar, which again, I think there’s a lot of misunderstanding around that it’s this event that the United States is going to default tomorrow, and the dollar is going to collapse. And anyone who says that is alarmist and extremist. And of course, I say, it’s a process, a process that is happening right now.

It’s a fact, right, that the dollar is losing its global reserve currency status, that the dollar is going to be weaker, that BRICS nations are growing in power, all these different things that are happening. But the biggest clue, of course, in my opinion, right now, what we’re seeing, too, is gold, gold in the mainstream, gold and legacy media, gold in the White House, all these other things. I know we’re going to dive into more detail a little bit later.

But ultimately, the writing is on the wall that I think that a new monetary system is being ushered in. And I think we’re only going to see more cracks, especially with the current administration. I think that they’re really not afraid of taking risks and pushing the boundaries.

I don’t know if you saw like the latest today that job report came out that we had, I think 175,000 job cuts in February in the United States, the most since 2020, and the most this year, since 2009. And again, I think these are things we’ve all been feeling over the last couple of years, but that might have been kind of covered up by government spending and our debt problem. And if we’re starting to really roll that back and cut spending or find ways to maybe cut government jobs, whatever it is, we’re going to really start to see this pain that I think so far has just been a game of kick the can down the road.

Yeah, absolutely. There’s a lot going on. Doge is having already an impact.

Jobless number, job cut numbers here jumped up dramatically. When you looked at the numbers, do you see how much of that was Doge related, meaning government layoffs? Do you have a breakdown for us? Yeah, I believe it was about 41,000 of that 175 in February. Now, I know there will be a lot of people out there who might say, okay, well, wait a second.

That was all just these government cuts, right? Like that’s not really a true representation of the labor market. But ultimately last year, when we were seeing all these positive job reports, and we were seeing these insane revisions come out, right? I was at that time saying, hey, where are all these new jobs coming from? It’s not making sense. We have all these bankruptcies.

We have companies closing, like, how is it possible that we’re having these positive job reports? And it’s because the majority of job creation was coming from healthcare and government. And I think it’s easy to say now some people on one side might say, well, hey, like, all these jobs that are being cut, we need them. And maybe we do.

I’m not saying we need to go in there and just cut every single job, by any means. I’m not trying to be extremist. But I am saying, there was a reason all these jobs got out of before.

Maybe it was because we wanted the numbers to look a little bit better in the past. I don’t know. Did we really need them all? Or was this just another way of keeping the machine running? Yeah, no, your your guess is as good as mine, to be honest.

And it’s, it’s up for others to decide who we need and who we don’t. But even if I take the 41,000 out of the equation, that’s the job cuts are still massively higher than the average that we’ve seen over recent months here. Definitely points or paints a picture or points in the direction that the underlying economy is struggling massively.

And we’re seeing that in the stock market the last few days here, under under underlining that scenario. What do you look for when you wake up in the morning? What’s the first thing you look at Taylor? Well, I know we’ve talked about this before that it’s kind of like everything is so interconnected in today’s world. There’s a lot to look at.

So of course, I look at what’s going on the stock market, I look at gold, I look at everything that’s really happening. I look at news, because again, too, I think more today than ever, if you look at the macroeconomic picture, right, everything is so interconnected. If there’s a new threat of tariffs, we’re going to see a movement in the stock market, we’re going to see a movement in gold, which is exactly what we’re seeing right now.

So any kind of announcement, we live in an era where just a tweet can change everything. And I think, again, it goes to speak towards the fact that we have extreme volatility. And I know that’s a word that’s been used so much, sometimes it loses its impact.

But I think we can expect to see more volatility, not less, which just goes to show how weak the foundation really is. Yeah, it is definitely crumbling. And let’s talk dollar, like you touched on the dollar collapse is one of your main themes.

And I really want to talk about timing of it. And since the 70s, the dollar has been collapsing, like we lost what is it 95 96% purchasing power, probably even more. Right now, my problem with the whole theory is and I’ll give you a bit of background is, like, I sat together about a year and a half ago, some smart minds around the dinner table.

And we talked about what is our biggest fear? Mine was, we’ve been predicting something to happen, it just doesn’t happen. So the dollar has been collapsing since the 70s. That’s over 50 years.

So the timing of it all, like, is this the endgame that we’re witnessing right now? Are we privy to that endgame right now that we’ve been probably forecasting for 50 years? I don’t have a crystal ball. So I can’t say with certainty. And I think to your point, right, people have been predicting dollar collapse as this event for a long time, which is why I am always very passionate about saying it is a process that is marked by important events, moments where we might look back and say, hey, that was a pivotal turning point, right? Like sanctions on Russia, that was a pivotal turning point that ignited half of, you know, the population essentially to band together.

And we look at BRICS, and again, these other nations saying, no more, we don’t want to be underneath the dollar some, the United States some, Uncle Sam some, right? We are moving and we are expanding, we are growing. Back at the VRIC conference, actually, in January, it was on President Trump’s inauguration day, I had a discussion about if BRICS would be stopped or slowed, which ties back into dollar collapse. At that time, I said, absolutely not, right? This is something that’s going to continue to accelerate.

We just might hear less of it in the news, which is what I think is happening. You look at countries like Brazil, and they’re kind of playing both sides saying, hey, we’re not pursuing a new currency, but they absolutely are still pursuing different ways to maneuver around the dollar. You look at the tariffs with China.

Do we really think that China is going to ease up on their gold buying and trying to figure out ways to move around the dollar? Absolutely not. These countries are more motivated than ever. And we’re only going to see this continue to grow.

If you look at Brazil this year, actually, they’re going to be hosting this year’s BRICS Summit. And they’ve invited Mexico, a country that right now maybe we’re not as friendly with as usual, right? So we know that we have this huge group of countries that are actively working on moving away from dollar dominance. That’s going to have a massive effect.

And then on top of that, you talked about the 70s to now, people say, okay, well, the United States has always had a ton of debt, right? We’ve been screaming about debt forever. What makes now different? Well, what makes now different is that we’re paying over a trillion dollars annually, just on interest on that debt, right? It does reach a breaking point. Now, I’m not saying that breaking point is tomorrow.

But I’m saying, when you have one fire, you can kind of put it out. When you have 20 fires, it’s going to take a lot more water. And I just don’t know if we have the resources right now to really stay afloat with what’s going on.

You’ve raised some excellent points there, Taylor. Absolutely. It feels like Ernest Hemingway saying little by little and all at once.

I know Andy Shackman uses that term a lot but it’s true. When I started the podcast about three, three and a half years ago, the pace was already fast. It was brisk.

There was lots going on. It feels like it’s completely accelerated over the last six months with the change in the White House and very many other factors, BRICS, de-dollarization, now war in the Ukraine being resolved, Europe is waking up, or apparently waking up, we’ll have to find out about that. But it is so fast paced.

And it’s difficult to keep up. I mentioned that to you before. It is really difficult to keep up.

Every morning I wake up, there’s a new scenario. It feels like there’s a black swan hitting us every single day. Is that something you see as well? I’ve been doing this for three and a half years.

It’s ridiculous to keep up. I need a whole staff sometimes to figure that out. Absolutely.

I couldn’t agree more. And there are people who have been doing this a lot longer than I am. And they’ll pull up all the numbers, all the charts, all the facts.

Not that I don’t dig into that, too. But the simplest way I explain to people is I just ask them, do you feel it? Which, again, might sound kind of funny when we’re talking about finances and numbers and dollars. But I just say, can you feel it accelerating? And the answer is yes.

Everyone out there knows, whether you have been studying this for years or whether you’re brand new to this space, whether you’re talking to your aunt or uncle, whoever it is, because, again, my passion is trying to help people understand who might not know what’s going on. And they say, yes, they can feel it. They just don’t know what’s going on, but they know things aren’t good.

And that’s that acceleration. That’s the simplest way I always explain it. Yeah.

No, it makes absolute sense. It’s way too much almost to keep up. And I have to admit, GPT is a good help.

Just helping me summarize things. It’s really staying on top of it. It wouldn’t be possible watching all these videos and context.

It’s insane. Big help, AI here, which is probably helping accelerate things. I’m not saying productivity is a big topic that we discuss here on this channel.

It is making me more productive. So it is an interesting topic. And I don’t know, since I raised AI, let’s side note.

What are your thoughts on AI? Is that the savior the U.S. makes it out to be? I think that it’s revolutionary. Do I think it’s the savior the U.S. makes it out to be? Not necessarily, right? I think that right now there’s still so much we don’t know. And I just think that we’re in a technological arms race.

And I don’t know if we’re going to be the ones who come out the winner. That’s how I kind of look at it. I think that’s been proven really over the last couple months, too.

We’re putting so much funding into AI as our savior, but we don’t even know yet if we’re going to be the ones winning the race, right? There’s so much happening in the dark of night that we don’t know. We’re talking internationally. We’re talking other countries.

We’re talking advancements. And ultimately, it’s going to be interesting how it shakes out. But we’re already seeing this kind of overvaluation play out.

The same way if you look at the .com bubble, right? It’s not to say the internet didn’t revolutionize everything. Obviously, it did. It changed everything.

But there’s a lot of overvaluation happening at that time, because people didn’t understand how to value it. It was new. And I think that’s exactly what’s happening with AI right now.

Yeah, it seems like the US, especially the new administration, is putting a lot of emphasis on AI. And it seems like they want to be the front runner. And right now, I see the US definitely in the lead.

Others are catching up. We’ve seen DeepSeek come out. It seems like the infrastructure, the investments in the infrastructure seem to be that lifeline to the industry.

And we’ve had that conversation, debt-to-GDP ratio. You can’t really change anything about the debt. The only thing you can do is delete it.

So you’ve got to focus on the GDP part, meaning you have to grow it. And how do you do it? Productivity increase. And I think that’s where my question is coming from.

Is that even possible? Do you even see a pathway for productivity to increase in a meaningful way that it could, I wouldn’t say even balance, that’s too strong of a word here, but reduce the debt-to-GDP level? There’s always hope. I think anyone who says there isn’t, that’s not a way to live, right? Do I think it’s a high probability? Sitting here today, I’m not confident. But that’s not to say that couldn’t change, right? That’s my honest answer.

If we look at GDP too, right now, I know the Atlanta Fed came out and revised their predictions down from I think it was a positive 3.9 to what is it now? Correct me if I’m wrong. I think it was negative 3.6 or something growth for Q1 of 2025. Obviously, we’re a consumer-driven economy, 70%.

Everyone knows that. That’s not new. But what’s driving all of that right now is the wealthiest 10% of Americans who are making all their gains off the stock market.

And if that’s drying up and liquidity is drying up, I mean, we don’t really know what’s going to happen, but we do need something to change. Now, AI might be the thing that changes that. I just think, again, like you mentioned, deep-seek, right? We didn’t even know.

Everyone was caught like, oh, my gosh, we had no idea this was even coming. What’s the next thing that’s going to come out where we think we are the frontrunners and it turns out people are miles ahead of us and we didn’t even know. I do think, though, that being said, America has always had a lot of ingenuity.

And I think that we’re good at developing new things. And I think if we can be the ones to push this forward, it’s going to put us miles ahead. We just have to be the ones to do it.

And that’s the part that remains to be seen. Yeah, no, it’s too early to tell, for sure. It’s interesting to watch, to be honest.

I think the number, by the way, the Atlanta Fed was 2.8%, minus 2.8%. I had to quickly look it up because I had a graphic lined up earlier. We’re already talking about a Trump session, which almost is a bit unfair, to be honest. He’s been in office, what is it now, six weeks and it’s his recession.

I struggle with that part. But, you know, you’ve been doing this for a year and a half or so with ITM now. And we talked about things accelerating.

What is the trend that is weighing the most on gold? Not weighing, but in a negative sense, but what’s pulling on gold the most in either direction right now that you’re witnessing? I think, again, it’s funny, right? I’m sure we’re going to talk about revaluation as well. But when we think about gold revaluation, the reason why I’m saying this is because it ties to what you’re asking. A strong gold is a weaker dollar, historically, right? There’s a reason, again, that we see central banks buying gold in record quantities.

There’s a reason that there’s tens of millions of ounces flowing into New York right now. There’s a reason that gold, again, is not just that ancient relic that they’ve been saying it is forever gaslighting us to say it’s not important, it doesn’t matter. Why is it the center of conversation today? Why is everyone talking about gold? It’s because the people in the top, they understand that the dollar’s days are limited.

Again, going back to dollar collapse. And I’m not saying, again, the dollar’s collapsing tomorrow. I’m just saying the current monetary system we have obviously is living on borrowed time.

It’s fueled by debt. It cannot go on the way it has been forever. And I think, finally, for once, all these people, all these people in power around the world are waking up, pulling their heads out of the sand and saying, we can’t go on the way we’ve been going on.

Something has to change. And I think trust, fundamental trust in the system, was broken a long time ago. But as more trust collapses and it becomes clearer and clearer this can’t go on, you have to put trust and faith in something.

And it’s not the credit of the United States government. It’s going to be a tangible commodity, an asset like gold. No doubt.

There’s very few tier one assets as the BIS describes them. What is it? It’s cash, it’s bonds, and it’s gold. Correct? Correct.

Correct. And there’s a reason that they moved gold to that tier one asset. I think, again, everything’s interconnected.

And if we look at the reason why things are done, they’re not just done by accident, by coincidence, at random. There’s something going on. And I’m not trying to be a conspiracy theorist by any means.

I’m just saying that there is a global move towards gold. And it’s because the dollar, we’ve never really had a situation like this. If we look at the dollar, it is so interconnected in everything that touches everyone in the entire globe.

There’s not a person who’s not impacted by the dollar. So if the dollar days are numbered, you’re going to need something else. Gold and silver, gold and silver, hard assets, real assets, 100%.

What puzzles me a little bit, and I’ve asked other guests as well, especially last week before gold started turning, because it felt overhyped, overbought, and maybe overheated, and just overhyped. I called it meme gold, quite honestly, just from a gut feeling. Just looking at how the chart moved since the beginning of the year in particular, it reminded me a lot of the Fed crypto reserve discussion.

I was like, okay, we need to bring this back. Similar tone, similar momentum. I couldn’t shake that.

And if I was a trader, I probably would have gone short sometime early last week. Might have covered already, maybe not. Maybe I’m sitting on losses.

I don’t know. I’m a terrible trader. But what do you make of that? I know you don’t typically comment on daily price action.

I’m not asking you for daily price forecasts. But the move in gold really, really accelerated. And does that just have to do with mainstream media paying attention, Fort Knox, Trump? What do you make of that? The short answer is yes.

Yes. I absolutely think that there’s a lot more attention around gold, like I was just saying. It is now mainstream conversation.

So there’s naturally going to be more hype around it. That being said, if I look at the fundamental value of gold as true money, in my opinion, it is much higher than the spot price, right? So if I see gold going up, I’m not looking at and saying it’s overvalued, right? No matter what gold’s price is today, whether it’s 2,900 or 3,900 or 10,000, in my opinion, gold is undervalued. So for me, I’m not really in the process or the habit of speculating or kind of if I see gold going up or down, it doesn’t matter to me because I would have bought gold a year ago, I’ll buy gold today, and I’ll buy gold a year from now, right? Expensive or cheap is all relative.

And I think, you know, what, if you look at January 1st, 2024, gold’s gone up 50% since then. There’s a reason why, again, and I don’t think it’s just hype and speculation. Whereas talking about the US Crypto Reserve, I actually think that that is something that’s very interesting that’s been going on.

It’s different, in my opinion, because I think there’s a lot more potential for manipulation there. Whereas gold, yeah, maybe there’s some extra hype around it right now. But I also do think there are real fundamental reasons why we’re seeing it go up the way it is.

You touch on the revaluation of gold, which could be another one of those fundamental reasons. We don’t know how much hype it is, how much truth there is to potential revaluation. Scott Besant recently said he won’t touch that part.

But if he talks about activating the assets on the balance sheet, he doesn’t have many options left unless he starts selling Nevada or so, or a lot of public land. What do you make of that discussion? What do you think is fair value? What makes sense? I know you broke that down recently in one of your latest videos. Maybe you can give us the cliff notes here.

Yeah, absolutely. So do I think the revaluation is possible? Absolutely, 100%. And again, I think people often say, well, if they were going to revalue it, why wouldn’t they have done it a long time ago? Because they focus on the positives.

Oh, it’s going to help US liabilities. It’s going to help the balance sheet, blah, blah, blah, which is all true. But again, a stronger gold means a weaker dollar.

So there’s a reason that they haven’t done it officially since, you know, it’s been almost 100 years. And then in the 70s, right, right before we went off the gold standard and shortly after they tried to do it again a couple of times, didn’t stick free market value went way up. Do I think that it could be an official revaluation? Yes.

Do I think if I’m Scott Besant, I’m saying, oh, I’m not going to touch that. That’s what I’d say, whether I was going to revalue it or not. Absolutely.

I mean, I think he’s not going to come out and say, oh, I’m going to do this. I think he would just do it if that’s what’s going to happen. So I don’t put much stock in saying I’m not going to touch that.

I think that that doesn’t mean anything to me. That being said, I don’t think it necessarily has to be an official revaluation. I think that it could come from the United States.

It could come from somewhere else. The world is so interconnected. I’m curious to see how it’s going to play out.

But the fact it’s even being floated, in my opinion, it wouldn’t even be out there in this way if it wasn’t a true possibility. As far as how high it could go, I mean, I know that people speculate from everywhere, again, from 10,000 to 150,000. No matter what it was, it would help.

I think that it will be curious to see. I mean, I don’t know for sure what it will be. I could speculate, but.

I was going to say, your guess is as good as mine, especially on the dollar value, if it even happens. I think you mentioned in your video that back in the 1930s, they revalued gold from $38 to $42. And what was it before from $36 to $38, I believe, if I recall correctly.

Small moves. Yes, small movements. If you wanted to equate the dollar value or the gold value to the debt on the books, it would have to be closer to $100,000.

I didn’t do the math. I’m just quoting top of my head here. $140,000 something, I believe.

Yeah, it’s actually much higher. It depends on what you want to throw in there. It’s a ridiculous number.

It’s definitely six digits. And it’s not the $2 move. It’s more of a $138,900 move.

So very, very different. You keep saying strong gold, weaker dollar. That’s a topic that I’m being stuck with lately.

It seems like Trump and Besant, they want the dollar to stay the world reserve currency, but it seems like they’re trying to weaken it at the same time. So the question in that regard is, what does that have to do with the gold price? It’s a really complex topic that I’m trying to wrap my head around, and I’m trying to break down a little bit, because gold broke out. So we’re at $29.50. It broke the cartel, as Gary Savage said, and they couldn’t control it anymore.

Dollar is still hanging in there. It’s still the reserve currency. But at $3,000 gold, it’s losing that aspect a little bit.

There’s other alternatives present now. What do you make of that? It seems like they’re trying to have cake and eat it too. Yeah, absolutely.

It’s interesting because President Trump has been very outspoken, actually, about supporting a weaker dollar. That’s something that he’s been vocal and said point blank. He said that he thinks the dollar is too strong.

So I think that it makes sense that we see that gold is rising, that he’s calling for an audit of Fort Knox and all these things about gold, while at the same time, he’s on through social firing off tweets saying, I want to make a US crypto reserve and do this and that. Because I think, again, he understands that if there are other options, if these other things are strong, then the dollar doesn’t look as strong at the same time. Now, he also, though, is the one who’s saying anyone who moves away from the dollar, any BRICS nation, 100% tariffs across the board.

I think that what he’s trying to do is, he’s always kind of done this, right? Poke in a lot of different areas, throw a lot of things out there, kind of see what sticks, kind of see what works, pull one lever and see what happens over there, pull one over here and see what happens over there. I think that there is a big plan. But I also think he’s kind of in this initial stage of poking and prodding and seeing what the best option is kind of seeing how the initial reaction is.

That’s my take on what he’s doing right now. Yeah, he’s trying to shake the tree and see what comes out. Honestly, see what the reaction is globally.

China is trying to devalue the yuan versus the dollar by pumping more money into the system. It’s an interesting global chess game. Absolutely.

Absolutely. How about silver? We haven’t talked silver at all. I know ITM Trading looks at silver as well.

What are your thoughts on silver? Why is it so disconnected from gold? Yeah, I mean, I love silver. I own silver. So I always start by saying that because I do mainly talk about gold.

And I think again, it’s easy to with gold being the focal point right now. But I know there are a lot of people who feel kind of sidelines and say, well, what about silver, right? Silver, gold to silver ratio, it should be closer to 10 to one, or it should be this or that we should be closing the gap. I think that a lot of people get really hung up on the gold to silver ratio and try and say, well, this is what it’s been historically, this is what it’s going to be today.

But the ratio doesn’t prove anything. It doesn’t force silver to move in a certain way. I think gold and silver move together until they don’t, right? Obviously, silver is dual use.

I think that if gold continues to go up, and I believe it will, yes, silver will go up. Do I think the gap will close? Absolutely. But do I think it’s ever going to be one to one? No, I mean, I actually see that a lot.

People will say, hey, it’s going to be the same silver is going to prove itself. And I say, you know, since the dawn of time, like going back to the Roman Empire, I think gold to silver ratio is 12 to one. So gold has always been worth more.

I think that there’s a reason that central banks are buying gold, because when they’re looking at the reset, gold will be at the crux of it all. But should that happen? Are we going to see silver move up substantially in that gap close? Absolutely. Yeah.

How does it look for supply and demand at ITM? I know I love talking with bullion dealers, in particular, because you can see it on a daily basis, like where’s the demand coming from? Are there sales happening sales meeting? Are people selling their gold back to you? What does that look like that dynamic dynamic? Yeah, I mean, I think ultimately, here at ITM, again, I kind of mentioned this earlier, we don’t focus so much on the daily, because we don’t view gold and silver as a trade, right? We don’t it is it can be a trade, it can be an investment that you buy, and then you turn around and sell. But ultimately, we go back to the why? Why are you buying gold and silver? Right? Why are you buying gold? What are you preparing for? Are you preparing for a currency collapse? Are you preparing for a currency reset? If that’s the case, there’s really no reason to be turning around and selling it because what you’re preparing for hasn’t happened yet. It isn’t in process.

And of course, sometimes it makes sense, right? If you look back at 2008, and you’d purchase gold and silver, and then, you know, after everything that happened a couple years later, you want to go buy a house, you’re going to be in a much better position to do so. If you want to take your gold, take your silver trade in a fiat currency, and then go buy your house and do whatever you need to do. That being said, right now, what we’re preparing for on the other side, right? Like if there’s a gold revaluation, and silver jumps up dramatically to, you’re going to be wishing you hadn’t sold it now, right? Because again, what you’re preparing for hasn’t happened yet.

So that’s our official stance. That’s how I feel about it, too. And that’s why any gold and silver that I’ve accumulated, I just keep stacking personally.

No, that makes sense. That makes sense. But you know, given the economic times and people potentially looking at their, you know, Kitco app or something on the phone, it’s like, Oh, it’s $3,000.

I bought during COVID, maybe I’ll sell again. Right? Maybe pocket $1,000. I’m not saying trading is the right thing to do.

Like, that’s really, I’m neutral on that. I’m just trying to gauge, like what investor sentiment is like right now, we’re about to hit $3,000, which is another, you know, milestone for gold here. It’s more about the psyche of the I wouldn’t even call them investor gold owners or bullion owners.

Yeah, when when they look at it is like, Oh, is it expensive? Is it cheap? Do I have holes in my financial in my budgets to fill? Given the underlying economic conditions that we discussed earlier? Absolutely. I mean, it’s a tough time for a lot of people. So the temptation is obviously there.

I’m not going to say it’s not. And everyone’s situation is different. But I’m actually glad you brought that up.

Because that’s another thing I hear a lot from people as they say, Is it too late to buy gold? And so you know, is it too late? Did I miss the window? Oh, I should have bought in 2020. Oh, I wish I had bought blah, blah, blah, blah, blah. But again, if you go back and look, it’s, in my opinion, never too late.

Because if you truly believe, again, that gold is true money, and that the US dollar is failing, which is a proven fact that it is losing its purchasing power, if you buy 100 US dollars and hold those US dollars, they’re never going to be worth more than what they were today, right? But gold will be worth more. Silver, in my opinion, will be worth more. So it’s kind of like, ultimately, again, the temptation might be there.

But it’s not too late to buy. It’s not too late to buy more. If it were me, that’s what I’m doing.

Again, everyone’s situation is different, though. I understand it’s tough for a lot of people out there. Yeah, I’m just looking at ETF flows, for example, in Europe has been selling while the US and or North America and Asia has been buying gold on the ETF side, which could be an indicator that the underlying economies are doing slightly or faring differently, meaning Europe is doing way worse.

Germany is apparently in a recession. Officially, nobody’s nobody’s admitting to it. The US is not in one.

So there’s potentially some free liquidity that could pour into gold. So I’m just looking at those trends and trying to figure out what is actually happening. Why would Europe be selling gold with everything that’s going on? Taylor, maybe as a, you know, as a contraindicator, not contraindicator, but a question to sort of prove the bull case is like, do you see any bear case for gold and silver? Is there anything that you think could derail the current price moves and the hype around gold and silver here? That’s a really good question.

You know, I never say never. I think that there’s, again, a lot of play that we don’t know. There are a lot of people in power making different moves.

But personally, I’d have to go with no. I mean, I’d have to go with no. And even maybe there’s something short term.

But again, I look at the big picture. You talk about the macro and the micro, right? I think everyone always gets really focused on, again, these micro movements, what’s going on today. I look at the big picture.

And I think the train left the station. I think that we are absolutely in the dawn of a commodity super cycle. I think that gold is going to be at the center of this new monetary system.

And I think when you look at all of these things put together, the momentum is too strong. Right. And I think, again, if we go backwards and look at history, anytime there’s been a currency reset, anytime there’s been a currency collapse, gold has been at the center of it, what they’ve used to revalue.

So I just feel like this is where we’re going when you look at history, and you look at what’s going on right now, and you look at what’s coming in the future. But that’s a great question. I don’t see many cases besides world peace, quite honestly, which is not going to happen tomorrow.

I hope we’re on the right track here that at least it calms down. But I don’t see a lot of cases. The US is not going to rid of its debt tomorrow.

There’s not going to be world peace tomorrow. There’s so many. No, I agree.

I have a hard time with it. But I just need to ask that question. Maybe there is something because we’re always doom and gloom about the economy, trying to be a bit doom and gloom about gold, just to test the case a little bit.

To be fair. Yeah. Yeah, just to test the case and see what is happening, what’s driving things and what could hit us from left field that we might not expect.

So no. Taylor, really, really enjoyed this conversation with you. Where can we follow your work? Where can we find more of your work? Yeah, absolutely.

So I am an economic journalist at ITM Trading. I have my own show there, Taylor Made Economics. So if you go to YouTube and search ITM Trading, you’ll be able to find me there.

And you can follow me at x at Taylor Kenney, ITM. Fantastic. Taylor, thank you so much for your time.

It was a great pleasure to catch up with you. We’ll have to have you back on very soon, just to discuss the latest trends and movements because you break them down phenomenally well on your channel. And we appreciate that here as well.

So thank you so much, Taylor, and everybody else. Thank you so much for tuning in. We tremendously appreciate you watching, liking, commenting, and of course, subscribing.

Although that said, 80% of you watching are not subscribed. Let’s please change that. It helps us bring phenomenal guests on the program.

It helps us increase our reach. So we do thank you for that. And of course, stay tuned, hit that bell icon.

We’ve got lots and lots more coming up. So thank you so much for tuning in, and take care.