Is Silver Set to Outperform Gold by 9X? (Uncut) 02-08-2025

Is Silver Set to Outperform Gold by 9X? | Mike Maloney & Alan Hibbard

We are up at a gold silver ratio of about 90 to 1 and I’m expecting it to go to like 10 to 1. In other words, if gold rises 200% or 300% you can take that times at 9 would be the performance of silver. The borrowing fee on SLV ETF has just gone vertical up 10x since this morning 10x. Wow.

Look at that green bar at the end. Hi everyone. I’ve got Alan Hibbard with me once again.

And this is sort of a continuation of the last video I did about the gold and the gold alarm ringing. So Alan take us through this a little you’ve prepared a pretty nice follow-up to that very very detailed video. Yeah, your video was awesome.

First of all, so if anyone hasn’t seen it, I would encourage everyone to check it out. But yeah, big moves are happening in the gold market and the silver market actually, so I want to share some things about delivery deliveries lease rates just buying volumes, you know, things are moving big time. So wanted to bring it to everyone straight away.

So first of all, I want to start with this from TF metals report. Frankly, I think they’re out of gold. So yeah, right and that is pretty much the theme of the previous video is showing that there is a real tightness in this market right now.

However, the tightness isn’t, you know, the the general public the retail small retail investor has sort of been sleeping this whole time. The big smart money is awake. And so what they’re buying is the stuff off the Commodities Exchange.

What is tight right now is kilo bars and hundred ounce bars. That is the thing that is becoming hard to get and then there’s wait times on so yeah. Yeah, exactly.

So we’re going to dive into that throughout this video. But first for anyone who does want to go back and watch the previous video. This is what it looks like the gold and silver alarm.

So I believe that video is about an hour long, but it is chock full of amazing contents, very comprehensive. So I would encourage people to check that out. Yeah, you did a great job Mike as always.

Thanks. Yeah. Okay, so a lot of work.

Let me tell you. You know, I know. I know.

Okay data from the World Gold Council in the final quarter of 2024 when Trump won the US election buying by Central Banks accelerated by 54% year over year up to 333 tons massive. Wow, 333 tons in just the final quarter. That’s amazing.

Okay. Yes, exactly. So Central Banks a major source of gold demand bought more than a thousand tons for the third year in a row in 2024.

So over a thousand tons in a year and that’s three years in a row. They bought that much. This is absolutely tremendous.

That’s where a lot of the gold is disappearing to and that’s also a big reason why the price is going up so much. Yeah. Yeah.

So yeah in 2025 we expect Central Banks to remain in the driver’s seat driver’s seat and gold ETF investors to join the fray. So, you know, I said it in the video that I really think that anybody buying ETFs if you if they think they’re buying real gold and silver on their brokerage platform. I think they’re fools.

I’m sorry. I just got to say it that this is a foolish thing to do the cost difference of actually having gold that is in your name in a vault that is not connected with the Comex. I mean think about it.

If you’ve got if there’s problems and they’ve got pallets of gold and some of its commodities exchange and some of its not it’s just eligible. Can they double count? I don’t know. I just don’t like the idea of holding any of my precious metals in a Comex depository.

So and all of this when it’s an ETF would be held in those depositories. It’s a bad idea. And then right in the in the prospectus.

It says that under certain market illiquidity conditions, which is what we have right now the price of the shares can diverge from the price of the metals and fall and I mean they’re admitting it that this is not gold and silver, you know, so go ahead. I’m sorry. Exactly.

You’re absolutely you’re absolutely right. It’s a good reminder for everyone. Yeah.

Yeah, there’s no substitute for physical, right? So so let’s look at the price here North Star here says gold. I am telling you for the third time. Are you listening a 45 year resistance line is now acting as support a new gold bull era is opening up in front of our eyes in real time.

So here we go. We’re going back to the the peak at the end of the the 1970s bull run and you can see this 45 year resistance line, which is now support. We’ve broken through and you know, I guess we’ll see if that acts as support, but if it does this is this is incredible a slingshot move is coming I can tell from looking at this chart though that it’s monthly data and that’s not an $873 high in 1980 because it didn’t spend very many days up near that high.

It was a super spike and so you could redraw that line and the support would actually be at a much lower level. It’s still valid that when you’ve got gold in in 1980. Looking like a double top whenever you see that it’s so the first spike should be a lot higher than the second spike.

And so when you see it looking like a double top that’s always like monthly data. And so if he if this was drawn on a daily what you would see is up where it says three where where the line is acting as support that line would actually be a little bit lower because the starting point would be higher on the left-hand side of the line. So yeah, okay, there’s some very important stuff here.

So why don’t you show us this CRE indicator? Yeah, absolutely. So the price is interesting. The resistance becoming support is interesting.

The potential of a slingshot move is interesting. But to your point Mike the CRE indicator here is the most interesting. So there’s a if you guys see this there’s 16 colored boxes here.

The first 10 of which have turned red. These are indicators and the remaining six of which are still green. So these are these are indicators like what the S&P is doing what the DXY is doing the Russell like a whole bunch of indicators that you’d expect in the economy and I want to read the significance of these indicators turning red and what happens once once they all turn red, so I’m going to zoom in here on this gray box looks like this when all the boxes turn red a CRE is confirmed.

That’s a capital rotation event basically capital rotating from risk assets into safe Haven assets. They only all turn red together during a capital rotation event one by one. They turn red as the capital rotation process continues leading to the eventual event confirmation.

This leads each time to gold rising hundreds of percent stock markets. Hang on one second gold rising hundreds of percent in the video that I just did I talk about silver and we are up at a gold silver ratio of about 90 to one and I’m expecting it to go to like ten to one. In other words, if gold rises 200% or 300% you can take that times at nine would be the performance of silver.

Yes, sorry. I interrupted. No, it’s a good reminder.

Thank you. So in this capital rotation event, what else happens? Well stock markets fall 50 to 80% over a one to two-year period that is fast falling 50 to 80% in one to two years, right? And if it falls 80% that means only 20% of your capital is left and so it has to grow by a factor of five to get break even it has to increase by 400% over that 20% that is left. A 400% gain in the stock market is very difficult to get and takes years and years and so you really want this is I believe that this is a time to be protecting your capital.

Absolutely. I agree completely. Yes, stock markets then take many more years to get back to their previous highs and make a new high that marks the next rotation in favor of stock markets and risk assets.

While stock markets slowly claw their way back to previous highs gold silver commodities energy oil massively outperform rising hundreds and in some cases thousands of percent. Wow. Yes, so this is that big capital rotation that we see that sometimes takes decades to swing back and forth, right? So could the stock market fall 50 to 80%? I mean, is there is there a precedent for that? Are we are we lining up in a way that is anything similar to a crash in the past? Yes, this year is the Dow Jones comparing the current set up to 2008 and it’s a huge warning.

So the bottom half of this chart is the Dow going from 1997 to well, basically the 2008 crash and the top half of the chart looks scary similar. It’s going back to basically the covid crash until today. And you can see that we’ve got this this rounded top.

We’ve got some volatility a tight trading range shoot up to a double top and then a giant crash and it looks the exact same in the top half of the chart. It’s kind of strange how similar it looks right? These things sometimes can be self-fulfilling to where enough people see this and so this is going around and it causes them to get worried and they sell and it begins. So yeah, so what was the size of that crash in 2008? Well, we were at about 14,000 on the Dow and it went down to about 7,000.

So it got cut in half 50% 50% just like it said in the rotation that they were talking about. Yes, exactly. So if that were to happen today, you know around we’re around 44,000 that could go down to 22,000 50% over the span of maybe a year and a half two years.

Well, you know the last time around Ben Bernanke printed and printed and printed. So that bottom in 2009 wasn’t what a free market bottom was. He caught it at 50% and made it bounce a tremendous QE and and all of that capital that they create has to go through.

They can only buy assets the Fed. They can only create currency by buying an asset and when they buy that asset, they are forced because of the the Federal Reserve Act to buy it through the open markets. They have to buy it through their network of primary dealers, which is all the big brokerage houses.

And so it all ends up in the markets and so the the QE the printing cause that big bounce there in 2009 and it that would have been if it was free market, it would have been a lot deeper, but we would be on stable footing today instead of a crumbling Foundation. Ben Bernanke, I believe he made these decisions very very fast and he’s a super smart person and when a super smart person makes a mistake, it is a doozy. And I believe that the next big crisis is going to be called.

I’m calling it the Bernanke bust. He set it up. There is no way for any Powell or Yellen or anybody running things to do anything but react to the problems that he created and so the printing that we will have to have the next time around because you know now instead of starting with 0.8 trillion dollars of base currency.

We’re starting with three point something. It was a high of four point something and so they have to create the same like percentage increase. I wrote about this in my update to my first book, which was back in 2015.

And so there is a big big print coming and the and it’s all going to be in reaction to what Ben Bernanke did the big print. I just had yesterday. Excellent.

Excellent. That’s exactly what this is about. I can’t wait to read it.

Okay, a big print. I think it’s coming to matter what. All right, let’s let’s keep rolling here.

So thinking in terms of the capital rotation basically between risk assets and safe haven assets. The Dow gold is like the ultimate way of summarizing the two explaining what happens, right? This is it. This is the demonstration of you know, people going into risk assets when the you know, this looks at this must be monthly data because on a daily 1929 was actually 18 the 1966 was 28 and then 45 was the year 2000.

So this may even be annual data to be honest. Yeah, probably is right, but we’re at around 60 and then in 1980 that should be a spiky bottom at one. And today we’re at 16 and I am expecting one again or even less meaning that the that gold will outperform stocks by a factor of 16 times.

Yeah, exactly. So gold outperforms stocks by a factor of 16 and then silver gold by a factor of 9. That’s like that’s so much math. I can’t even do it.

It’s like a hundred fifty X outperformance between silver and box. I mean that is that is wild. Yeah, but yeah, let’s move on this.

That’s the rotation that they’re talking about. Okay, exactly. And so there is something else that’s that’s troubling in the markets here yesterday.

I posted a tweet that said we will find out in the next one to four weeks. If the LBMA is out of gold, this chart is another indicator that it might be true. Yeah, so let’s zoom in here.

This these are the steep borrowing costs for gold, right? Which indicates tightness in the market. So this is the bullion banks borrowing from central banks. So it’s gold that goes out of the central bank vaults and I had an article in my first video where they said that Drexel Burnham was a brokerage house that when I went under back in I think 1990s and they had a bunch of gold that was leased from the Bank of England that was lost.

It never, you know, never got returned and it said that this is the dirty secret of central bank vulnerability that they lease gold and we have an unstable system so they can lose their their gold reserves. With all of this gold leasing and rehypothecation that goes on. But this is insane.

Look at the size of that spike up to over 5%. Yeah, very quickly to I mean, right, it’s like a couple months. So right at the end of December, you know, a lot of the stuff that I was showing, we didn’t even have January’s numbers yet.

The amount of gold imported to the comics that float into the United States was just huge in December and we don’t have January’s data. This whole rise it was there’s there’s that blip in December, but on January 1st, we went through an interactive chart on this and it was actually negative on January 1st. It was below zero and then it went up above 5%.

This is just mind-boggling how quickly that happened. Yeah, super fast and we’re not necessarily done yet. Like who knows what’s going to happen over the next few days the next month.

I mean, it could go could go way higher, right? So yeah, something’s not adding up here. Yeah, here’s an article from Bloomberg gold dealers sell Bank of England bullion at a discount in tariff turmoil. So there are weeks long queues to withdraw bullion from the Bank of England and the size of the divergence is extremely unusual amid a rush to ship gold to the United States.

So there’s one thing from this article. I wanted to highlight. This is the same chart.

We were just looking at a second ago, but it is interactive as you mentioned. So there’s the negative bit in January and we are up over 5% on February 4th. It came down just a smidgen after that.

Yeah, this paragraph here. I know you wanted to read that what I noticed is the typical 400 ounce bars that are traded in London can’t be shipped directly into New York to deliver onto the Comex exchange. Instead, traders must re-refine the bars into 100 ounce or kilo bars in places like Switzerland.

Well, I covered this in the gold flows in detail in the previous video. But what what really sticks out to me here is those 400 ounce bars are the old central banking bars from the old gold standards. So these 400 ounce bars in London are from when London was the hub of the gold standard, you know before World War one and then it shared being the hub of the gold standard with the United States in the interwar standard and London and England pulled out.

I believe it was 1932. They pulled out of the gold standard. And so what we’re talking about here is the central bank dipping into these ancient gold bars so they can be melted down re-refined.

And so they’re loaning this stuff out that is, you know, these are the types of bars that were in Fort Knox when there was the gold nationalization in 1933 and so on. They are a remnant of international gold standards where either either the Federal Reserve in New York or the Bank of England were the hub and there was pallets of gold in the basement and that, you know, they’re constantly doing settlement between countries. So this is not your normal public gold that’s traded on exchanges.

They’re dipping into something that is strictly central bank gold. It’s being loaned out. It’s going to Switzerland.

It comes back as hundred ounce bars and kilo bars that can be delivered into a futures contract. And so this just shows the desperateness of what’s going on. If they’ve actually if they’re out of all of like the normally traded consumer gold and they’ve got to dip into this ancient central bank gold and the that one article that I covered where when Drexel Burnham went under the central bank lost that gold.

It wasn’t paid back. We’re getting into situations like that where that can happen again. Now, you know the thing that I mentioned earlier what’s becoming tight though is only the hundred ounce bars and the kilo bars so far.

I do believe that in just a couple of months weeks months that you’ll see tightness in the more consumer oriented coins and bars the small bars and coins. So yeah, we’ll keep an eye out. Definitely definitely possible.

And by the way, it’s not just gold. It’s also silver. Well, the borrowing fee on SLV ETF has just gone vertical up 10x since this morning 10x.

Wow. And look at that green bar at the end. Unbelievable.

It dwarfs the entire chart. You can’t even see what was happening before that because the move today was so humongous, right? So we want to point out to everybody that we’re not tracking the gray bars here. It’s those green and red bars there at the bottom of the graph.

That is the difference between what just happened and what’s been happening in the past the explosion. And so yeah, so there is something going on right now and we don’t know exactly what but people are getting prepared. That’s for sure.

Absolutely. It’s cool. And it’s the big boys.

This is what bugs me. You know, I said in that video that I hate it when I’m selling people precious metals near a top, but the public tends to chase price. I really love it when I can get somebody in at a low price like, you know, during the covid crash, the gold silver ratio went up to 120 to 1 and I was able to buy when it was at like 110 to 1 which put me in at around 12 or $13 and look at where it is now.

33, so the gains in such a short period of time have been phenomenal and I discussed it in my Insiders report and I just hope the public is waking up because it looks like there’s going to be a huge move coming up and I, you know, I used to joke. I’d say you look like a $5,000 an ounce guy and they’d say what you’re going to wait until gold is $5,000 an ounce before you buy. And there are people like that.

You know, they’re in the stock market. They’re just stuck with it and they’re going to lose 50% and then they’re going to buy $5,000 gold in that rotation that capital rotation that you were talking about. So yeah, you know, there’s a there’s a saying in the in the Bitcoin community that I think applies to gold and silver.

It’s everyone buys Bitcoin at the price. They deserve and everyone buys gold at the price. They deserve everyone by silver at the price.

They deserve. That’s it, you know, so anyways, all right, let’s keep moving here. CME gold deliveries.

This is a fascinating chart here. Yeah. Do you want to talk about this one Mike? Well, yeah, Nick Laird at gold charts are us sent these out in an email and I saw this and I went, oh my God, because the thing that is amazing is that those other two big spikes during the covid panic right there.

Those are the highest spikes on record, but that’s for entire months. And this recent spike is for the first five days of this month, just five days and we’re already higher than this the second highest spike in history of gold deliveries. And this is the problem.

This is the reason for the emergency. This is the reason people are that the Bank of England is selling those 400 or loaning out those 400 ounce bars at a discount to spot because people are paying 50 bucks to send it to to Switzerland and get them refined into and I would imagine Switzerland is way backed up at all their refineries right now to melt down these 400 ounce bars, refine them into hundred ounce bars and kilo bars so that the the Comex can Continue their deliveries without a force majeure without, you know, running out and saying cash settlement only which would cause gold to just like practice. I would feel that it would almost instantly double in price.

There would be a scramble around the world for gold. If that happened, it’s probably not going to happen. They patched it up last time.

They kept somehow kept the music playing. Well, everybody is dancing around thinking that they can you know, in the musical chairs that they’ve got a seat when there’s actually only one seat for every 10 20 50 hundred people dancing and so this exposes all of the vulnerabilities when this stuff happens, but five days that is an amazing spike. Yeah, exactly.

And I just want to add this table here like you can see we’re up over 50,000 contracts just just five days into February. So we still have the entire month of February and this spike will climb higher and higher and higher as more people take delivery of their gold. So yeah, we’re going to break a record for anybody that wants to do the math.

It’s 50,000 contracts. A contract is a hundred ounces of gold times $2,800 an ounce so you can figure out how many billions we’re talking about in just five days. Yeah, that’s that’s 5 million ounces of gold.

We could round it off to 3,000. That’s 15 billion 15 billion dollars worth of gold in five days. Wow, it’s crazy.

Yeah, staggering. So we’ll see what happens, you know, throughout the rest of February. Okay, so yeah, let’s let’s compare the current bull market to that of the 1970s.

You know, we’ve presented this chart before you can see how crazy similar they are. However, the current bull market is taking about twice as long to play out as the decade of the 1970s. However, it is larger in size.

So instead of a roughly 25x, it’s a 36x if it if it finishes this pattern. So yeah, what do you anything you want to say here? Well, when we made this chart, I asked you to we’re basically doing what is called something similar to Elliot wave analysis where you’ve got up cycles that are in one, two, and three waves, sometimes five waves up. And what we did was we took the lowest price of gold after its 1980 high to today.

What was the lowest price was $253 in 1989. So we did the blue line is the 70s bull market the entire thing from the lowest price to the high of 873 in January of 1980. And then we took the current bull market starting at in 1999 to today.

And that first wave up where it they both hit a high. I just had you line up the lows and the highs so we had to take the current bull market and squeeze it and then squeeze it this way to get those to line up just to see and the correlation we’re going. Oh my we could not believe the correlation between these two.

It was just astounding. And then the last time we reviewed this you pointed out that something happened right there. Yeah, what happened where it just started going sideways and it didn’t match up anymore.

It didn’t correlate to the it was a perfect correlation. And then something diverged. So what was it that you said with covid covid the covid crash everything sold off.

Okay, and what happened during covid we created massive quantities of currency. Well, this went sideways, which means this sideways move. It’s just storing energy.

So the explosion that comes later because it’s both is storing energy now in both magnitude of the move and time because we were past the time limit. When this thing should have peaked and it was predicting $9,000 announced then. So I actually think that there’s there’s a possibility that that might be a low estimate.

I don’t know. It’s possible. Silly anybody talking about $9,000 gold is considered a lunatic.

But you know, if you went back to the beginning of this century when gold was 250 and said that gold is going to be 2,500 is going to go up tenfold. You would have been called a lunatic then so, you know, because it had been going down every everybody was saying I was saying you got to look at gold and everybody goes gold. It’s been going down for 20 years and I’d say exactly the biggest sale ever.

It’s right. Yeah. Yep.

Well, I agree with you. So let’s let’s see. I mean, I do think 9,000 could end up being a low estimate.

And just out of curiosity, I added something to this chart that I haven’t had on here before I basically said, okay, where are we in comparison to the 1970s Bull Run and basically we’re at the time when gold was $319 an ounce and it only had this, of course, it didn’t know nobody knew ahead of time that it was going to do this but what it ended up doing was basically going up like a rocket up to 873 as you mentioned and that was a multiple of 2.7 X in 144 days. Well, that’s less than five months. So that’s absolutely massive unbelievable.

And so you might wonder, okay, does that mean that gold is poised to do 2.7 X in 144 days starting today like is that what we’re going to see with the continuation of the red line and not exactly and the reason it’s not exactly the same is because of what you mentioned a minute ago, which is that this bull market is taking a lot longer to play out and it’s also actually rising a lot more than it did in the 70s. So the appropriate analogy is actually to multiply that time by about two and a half 2.47, I think and to multiply the magnitude by the difference in the logarithmic scales here, which is just a 20% increase. So the chart on the left here is base 5 the chart on the right is base 6 for anyone who’s interested in the logarithms there.

So a 20% increase is warranted. So what that would look like is a gain of 3.3 X in just about one year 355 days. And if you want to do the math on that like where does that where does that put us in terms of dollars per ounce? Well 3.3 times today’s price 2893 just multiply that and that’s over 9,000 tell you that much.

You like 9400 maybe. Okay. Well, yeah, except for that extra stored energy and all the currency printing.

Yeah, I don’t know. Maybe I’m but I see when it when it went sideways during covid well Bernanke created 4.2 trillion dollars of base currency and then that all went through the Bernanke and Powell basically since then have created all of that. Well, not Bernanke.

This is just pal but it ended up at 4.2 trillion of base currency and that went into the stock markets. It created the bubbles. Then we did the mail the checks to people and we’ve had huge inflation and so gold is just catching up here.

The expansion of the currency supply has been an absolutely enormous since the beginning of the red line starts in 1999. And so the expansion of the currency supply during the in fact, let me see. I’m going to just read the there’s a chapter that I believe is extremely important.

If anybody wants to know how high you know, they if they want to know the fundamentals under this bull market compared to the bull market of the 70s since January of 1980 when gold peaked there is now 18 times more people around the world that can legally buy and afford precious metals. There’s 55 times more currency on the planet. There’s 56 times more millionaires and 200 times more billionaires, but basically those first two things 18 times more people that can participate and 55 times more currency.

That’s all you have to know to realize that perhaps 9,000 is way low. Yep. I totally agree.

And I can this this timeline here messes with my head more than anything else. Like could this really could this bull market really finish in one year? It doesn’t feel like it to me. I feel like the bull market is going to go on a few years.

It all depends on what kind of crisis, you know, what’s going on right now could end up becoming a crisis that propels gold vertical like that. A if we actually go into some sort of currency crisis or something and then when you look at what they’re doing, they are doing a lot of good things in in this, you know, they’re doing some real housecleaning in the government, Elon Musk and Trump, but Trump doesn’t really know economics that well. And if they do more cost-cutting, then they unleash business, then they could cause a serious recession and China is set up for it.

We are set up right now for a global recession and these tariffs if we get into trade wars and tariffs that will cause it. That’s one of the things that caused the what should have Milton Friedman said that the Great Depression should have just been a deep but short-lived recession and it was the government and these policies and the Federal Reserve that turned it into the Great Depression. And so we’re set up for that again and they did all these protectionist policies back in the 30s and that’s what caused the Great Depression part of it.

And so if a crisis happens that’s big enough, you know, I talked about a slingshot move from the cup and handle and the inverse head and shoulders here and we got that already the slingshot move, but this is going to this could end up being like a cannon. Yes. Yes, right.

I can’t wait to see what happens. So a lot of people ask, okay, you convinced me. I’m going to buy gold.

But how much gold should I buy and you know, obviously a lot of a lot of advice out there is all 2% 5%. Okay, I think this I think this chart kind of illustrates why those percentages don’t make a lot of sense. They’re extremely low and what I want to show everyone is is this basically what we’re looking at here is the percent return you would get vertically.

Okay, so however high you up however high you are on this chart is the percent return you’d expect. So higher is better and going across the bottom here is risk which we’re measuring by volatility. So like the standard deviation of the returns in a portfolio and so the volatility, you know, is the choppiness of the price and the magnitudes of the drawdowns.

And so this is interesting. This is from CPM group and CPM. They tend to be very conservative.

Their numbers are accurate and this goes all the way back to 1968 to 2020. So they’re taking a 6040 portfolio of stocks and T-bills, which is the standard recommendation and then they’re keeping their adding gold and keeping the remainder of it 6040 stocks and T-bills. And what’s interesting is 20 to 30% is incredibly low risk, but incredibly high return.

If you want to take a little bit more risk and be able to ride out the roller coaster of the bumps and dips then this is showing that the higher you go with gold the better your return has been from 1968 to today. I mean, you know you I’m just amazed that you know, the Wall Street will still be saying stuff like, oh you want to be careful with gold. You only want like 5 maybe 10% in your portfolio.

You know, this is incorporating the bear market from 1980 to 1999. If you take if you took this and you only looked at the bull market that started in 1999 to today. This would be a the percent returns on the side scale here would be a lot higher than what you’re seeing in this graph right now because this also incorporates that giant bear market that was 20 years long.

Yes, and a huge takeaway from a chart like this. I know a lot of people watching this aren’t they’re not chart people, but a big takeaway here is that any two points that are directly on top of each other the higher one is strictly better than the lower one. Yes, so so any two points that are directly on top of each other that means they both have the same risk.

So your portfolio would have the exact same risk for any two points that are on top of each other. So if you know somebody who has 0% gold in their portfolio, they could get an extra 1% return on average every year by going up to 35% gold, which seems like a big jump but wouldn’t increase risk over the long term. Right? It’s the same risk then as the 60 40% as you know stocks and t-bills portfolio with an extra percent return every year compounded exactly exactly compounded right and similarly if you have 5% gold you could go up to roughly 30% gold with the exact same risk but get almost another full percent return maybe three quarters of a percent return every year compounded.

Yeah, this is the chart that where when I hear somebody say, oh just five or 10% gold at drives me nuts. So yeah, the tinfoil hat, you know, end of world investment is actually the investment of a lifetime. And then, you know, if you look at where silver is right now, and then the number of paper ounces that have been sold compared to the actual physical that exists.

I mean right now is the setup for precious metals. It is this is what I’ve been waiting for for a long time. I mean, I’ve done spectacular because I started buying at 315 dollar an ounce gold.

So I’ve done very very well over the years, but the best is yet to come. I agree get your hands on gold and silver. Keep calm, but all the gold and silver is gone.

Oh, no. Yep. Yeah, the point of this video.

So thanks for sharing all of this Alan and thank the audience here for watching and we’ll see you next time. Thanks everyone. Bye.

Bye.