Silver’s $50 Comeback (Uncut) 01-28-2025

Silver’s $50 Comeback: Is 2025 the Year It Finally Happens?

Hello, everybody, and welcome to VRIC Media, the most trusted voice in junior mining. We just wrapped up our flagship event, the Vancouver Resource Investment Conference. A lot of those videos are going to be coming to this channel.

We did do a silver panel, which I think you’ll find highly enlightening with one of our guests today. But it is with great pleasure that I continue the Vancouver Resource Investment Conference after it’s over. Here we are with a bonus online panel for you guys on the silver space.

We’ve got David Morgan, author of The Silver Manifesto and founder of The Morgan Report, and Peter Kraut, author of The Great Silver Bull, editor of Silver Stock Investor, as well as a new free service, Silver Advisor. Gentlemen, it’s great to have you back on. This is part three of our silver discussion, and I’m looking very much forward to it.

Well, thank you, Jesse. Appreciate it. In here, looking forward to it as well.

Well, let’s start by zooming out, and I want to ask both of you what has been on your radar so far here in 2025 when it comes to the silver market, and what are the main catalysts you’re watching that you think could drive prices higher from here? David, I’ll start with you. Thank you, Jesse. Well, I just did an interview actually yesterday on kind of a big picture thing, and the audience was able to interact, and one of the questions that came in was, I don’t care this, that, or about the other thing.

The main thing that I’m concerned about is the debt, and I acknowledge that, and it doesn’t matter which administration is in power in the United States. The debt problem remains a problem, and it really cannot be overcome. If you look at the math, and you take away all of the extraneous services that we could say are not required, and you leave only the required, like military, social security, Medicare, and keep those alone, you still have a deficit going.

So, that’s the facts. So, then on top of that, the other catalyst, of course, is inflation, and we can get further on with that later, Jesse, but what’s interesting is that the Fed has, during the FOMCs, they’ve lowered interest rates, yet the bond vigilantes are back, and they’re saying, huh, that’s nice, but the interest rates on the long end have gone up, which means they say, look, we don’t trust the value of the dollar in the future. Therefore, you’re going to have to pay us a higher interest rate in order for us to keep playing your game.

So, those are the two things, the debt bomb and the inflation rate. Peter, what are you paying attention to right now? Yeah, so, some similar things. If I may, I’m just going to maybe provide a little more detail in terms of what I see on the debt and the interest rate side to take it a little bit farther.

David, you’ve probably seen the 10-year yield is way up, and it’s up in the face of, so, it’s up about 100 basis points in the face of 100 basis point rate cut by the Fed, which is something we’ve never seen before, and you alluded to the bond vigilantes, and they’re basically telling us that they think that the market thinks that the Fed is wrong, and it should not be cutting rates. At least it should probably be holding rates, and it basically is providing juice to the economy that the economy doesn’t really need right now. And so, by rates going up in the face, sorry, it yields, 10-year yields going up in the face of rate cuts, the bond traders are basically telling us that they do see higher inflation coming.

And I really think that the Fed’s got a major dilemma. It’s either going to stop cutting to help fight inflation. We know that’s going to worsen the debt because the government, its interest payments on debt are through the roof, becoming the single biggest line item in their budget.

It’s not good for Wall Street. It’s not good for Main Street. Or they’re going to ultimately continue cutting rates.

That’ll make the government’s budget situation a little bit easier to digest. That’s going to juice the economy further. It’s going to make more room for them to eventually hike rates in the future.

We’ll see how long that takes. But it’s obvious that’s going to lead to more inflation. So, to me, it’s obvious the path of least resistance is the second option to eventually keep cutting rates.

They can say that they don’t pay attention to the government’s budget issues in terms of what it faces with high rates, because obviously it becomes unsustainable. But I don’t believe that they don’t take that into account. That’s my quick view on the macro side.

On the more immediate side with silver, one of the things that we’ve seen happening, and I’ve been following pretty closely, is the Trump tariff threat, which we’ve seen traders start to act on going back probably, I’m going to say, since December. There’s no clarity. There’s no certainty.

That leads to volatility for sure. But anyone who has an obligation with silver in the U.S. is looking at trying to get its hand on the physical silver if they happen to have to make a delivery. We’ve seen quite a bit of metal flow out of London.

These are what we call exchange of futures for physical premiums. They’re exchanging their futures for physical. The scrambling to get the metal into the U.S. to avoid tariffs.

Again, we don’t know if or when they will come, but if they do, it’s looking like odds are pretty high that unless he makes an exception, that gold and silver would be affected by that. We’ve seen the metal flowing in. That’s hurting inventories in London that have gotten quite tight.

We’ve seen inventories go up in the COMEX and in Shanghai. We’ve also seen deliveries go up on the COMEX. The metals moved to New York, but then participants have also been taking delivery.

That’s really also narrowed the number of ounces that are available for delivery. What we’ve seen too is if you look at both short and long term futures, the spreads of futures versus spot indicate that the market is seeing higher prices coming. This is what I’ve been watching.

Before we move on, David, I’d like to get your outlook on the inflation picture because core inflation remaining stubborn around 3%. Do you think the Fed will be able to get inflation down to their 2% target? Do you think they’re going to now start to convince people that 3% is the new 2%? Do you think we’re going to see higher inflation up ahead? Obviously, these inflation statistics are ridiculous. John Williams in Shadow Stats has a more accurate view of where inflation is at.

How do you think things are going to play out? Thanks for giving the caveat with John Williams. Let’s just go by what the government will do. In that context, I think they’re going to say 3% is the new 2%.

And they could change the metrics as they do often and say, well, this doesn’t count for this. We don’t really mean it. We’re going to change the way we measure it.

And therefore, whipped you do, we’re at 2%. But I think it’s more likely what you said. I think it was like, we’re close to our target and away we go.

Yeah, let’s call it a day. Well, I want to talk about one interesting aspect of silver demand that isn’t discussed a lot and that is silver’s use in military applications. We’ve heard a lot about the solar side of the story, not so much the military side.

I want to read a quote from an article on Mining Newswire from October of last year. It said, a new analysis posits that the use of silver by the military may be significantly higher than demand from investment, solar panels, and electronics combined. This echoes something I’ve been hearing from Andy Schekman, as he believes one of the main reasons the price of silver is being suppressed is because of how much it’s needed in military applications.

What are your thoughts on silver’s use in the military? David, I’ll start with you. Oh, it’s huge. And it’s been frustrating for all these years that it isn’t reported.

It is and it isn’t. It is not reported as military use. So if you see like brazing batteries, electronics, it’s all buried in there.

If you look at a mil spec, a military specification for certain, like a radio, for example, or a battery or anything that’s a mil spec, those are very high standards because they have to be able to weather any kind of weather conditions, combat conditions, and what have you. So that means that there’s a lot of silver used in applications in the military. But again, it isn’t broken out.

So it’s not like it’s being hidden when you read the report from CPM Group or the Silver Institute or Metals Focus. I think pretty much the amount of silver is accounted for. It’s just no one’s telling you that the amount of silver used in batteries is two-thirds military use, as an example.

I’m not saying it’s two-thirds. I’m just giving you an idea that a lot of that usage in those categories are military uses. And Peter, have you been watching the military side of things when it comes to silver demand? Yeah, I mean, I think David, with his background, probably has more to contribute to an answer here.

My only thing, all I would say is that something maybe specific, and it doesn’t change anything that David has said, but something specific where there’s potentially a fair bit of use that, again, is not broken down or specified is Tomahawk cruise missiles. I’ve read accounts of where it could be using up to as many as 500 ounces of silver for a single missile. And so there’s a couple of aspects to that when you think about the consumption.

It’s not just using it in the missile one time. You’ve got replacements for the missiles as they age. You’ve got sales of missiles to other militaries outside of the U.S. where there is some friendliness and where they are buying that stuff from the U.S. So these are kinds of things that I’ve come across sort of unconfirmed things over the past sort of year or two.

Nothing is, I can’t really substantiate anything, but there are people that seem to have some insight and allude to some of these things. And I think that for whatever reason, it may explain some interesting things. In the talk that I gave actually a couple of days ago at BRIC, I mentioned how You’ve Got Russia Now has done two things with regards to silver.

The first is that they said that they would now start adding silver to their reserves beyond gold, platinum, and palladium. This is the first time they’ve ever done that. And the second thing is they’ve said that, this was I think in November, they said that from December 1st last year until May 31st of this year, they were going to ban the export of scrap and waste precious metals.

So clearly they want to keep their silver at home. And you have to wonder, they don’t need that many excuses, but I would not be surprised that military is one of those factors. Well, Trump has just been inaugurated a couple of days ago.

He signed a flurry of executive orders. Sadly, he also launched a scam crypto token. What a way to start your tenure as President of the United States.

And then his wife launched a follow-up scam crypto token. This brings his credibility under question, in my opinion, at least to some extent. He’s campaigned a lot on being a crypto president, but how do you think his tenure could have an effect on gold and silver, if at all? David, what do you think? Well, a couple of things.

One is that I did a whole series on what we call the crypto conspiracy. There’s 30 podcasts or almost all videos on the various aspects of Bitcoin. And I looked at the other side of the coin, not just the pro, but the con as well.

And so point number one is that the crypto world has taken funds that would have normally gone into gold and silver into the crypto sphere. Having said that, the amount of market cap of even Bitcoin versus gold is an order of magnitude. In other words, round numbers, gold market’s 10 times the size of the other markets.

So it’s only one-tenth as big as the gold market. So if you look at the gold market as being about 1% of the financial markets, and you realize that Bitcoin’s one-tenth the size of that, how much influence does it have really? And this is something that just my math mind goes on and says, well, let’s look at it from an objective perspective. Because if you look at it based on social media and the word and how often it pops up in the vernacular, you think that the world’s running on Bitcoin now, but it’s not.

So that’s my first point. My second point is I’m not a big Bitcoiner. I think that the amount of energy used to produce a Bitcoin is not commensurate with its value.

I mean, if it takes $100,000 from Marathon or Riot, the two largest Bitcoin manufacturers or mining entities in the United States, and they’re at a breakeven, it’s not a good business decision. In fact, one of them just put out very recently that they’re kind of rethinking how much expansion they’re going to be doing. So I think maybe the facade of this is a cure-all, be-all, know-all, end-all solution to a monetary problem is starting to tarnish a bit.

And Peter, your thoughts on Trump’s direction when it comes to cryptocurrencies? He hasn’t mentioned gold and silver, I believe, at all in the run-up to his presidency. Could any of his policies end up being good for the gold and silver markets? Well, you know, we talked about inflation early on, and I would say that’s probably the main thing you want to point to because, you know, they can talk all they want about cutting expenditures and, I mean, there’s just such a small dent only that they could possibly make. Musk has already backtracked on his $2 trillion cut that’s going to likely be closer to $1 trillion, and he hasn’t even gotten started yet.

So I think, if anything, that’s what this new administration will do. Like David said at the beginning, I don’t see it making a difference who’s in office. This is well beyond anything that we can reverse at this point.

You know, when it comes to crypto, sure, he’s positive on crypto. What can that do? Well, potentially, you know, sort of short-term attract hot money if something particular comes along or whatever it may be. But beyond that, I was looking at some numbers comparing the Silver Institute’s forecasts back in April when they put out their world silver survey, and then I looked at the comparison with when they put out their updates back in November, which is, you would assume, more real-time or more realistic for 2024 because they’re closer to the end of the year.

And so what I found interesting was that they thought that physical investment, they revised it downwards, and that revised the market balance downwards. In other words, it was going to be a smaller deficit by, I think, about maybe 30 million ounces. Not huge.

So let’s say from, I think, about 215 million ounce deficit to 182 million ounce deficit. But still, it’s, according to them, less of a deficit because they expected lower physical investment. However, they have a separate line item that is net investment into ETPs or ETFs, which, you know, we know silver ETFs more commonly as.

And that actually doubled from 50 million ounces flowing into silver ETFs to 100 million ounces flowing into silver ETFs. And we’ve started to see that. If you look at a chart of SLV, the silver ounces held by SLV bought in about July of last year and have been trending very steadily upwards.

We see, you know, people are buying it, that the fund, the ounces are flowing into that. And, you know, the interesting thing is you, if you include, so they show it separately, but if you look at the very bottom line where they show market balance, including flows into ETFs, you actually have forecast for 2024. So, you know, we’re going to probably find out in the next sort of month or two.

That ultimate deficit for the year is going to be the second highest deficit on record. 282 million ounces versus 2020’s 300 million ounces. Second highest record deficit.

So, you know, the money may not be going into physical or not as much, but it’s going into silver investments that are, let’s say, versions of physical, if you want to call it that. And maybe a little bit, if I may, a little bit of color on kind of what I’m hearing anecdotally is that the bullion dealers, not all, but many, are really seeing that. They’re seeing that their sales of physical has gone down a lot.

They’re buying, they’re admitting that they’re buying a lot more silver back than they’re selling. But at the same time, it looks like the sales are happening through Costco and Walmart. Costco has said that they’re at a pace for about 1.2 billion dollars of gold and silver sales per year.

Walmart, I haven’t heard, but I’ve even heard that some dealers are potentially buying from Costco and Walmart because the margins are so low and then reselling. So, you know, it may just be that the demand has shifted from one source to another and perhaps it has lessened as well because the markets have been maybe less exciting. Both metals have done well, but sentiment is still not great.

We know that. So the physical buying looks like it has trailed off somewhat or shifted to suppliers that are a lot more concentrated. And some of the looks like it has also shifted to the ETF world.

But if you look at, like I say, at that ultimate market balance, I think that’s really the number that we need to look at. And it’s really quite telling about the state of the silver market. I want to talk about the BRICS narrative, BRICS versus the West.

Trump has been threatening all of these nations with 100 percent tariffs if they try to operate outside the U.S. dollar. He’s recently posted on social media that Putin had better follow his terms to ending the war in Ukraine or he’s going to impose sanctions and tariffs and we can do this the easy way or the hard way type of attitude. Is this rhetoric from Trump going to work or is this just going to accelerate the BRICS alliance and their move to launch a trade currency outside the dollar? David, what do you think? Well, I think a lot.

Let me go back a couple of steps. And those couple of steps are when this war started, the United States basically null and voided Russia’s deposit, you know, the 300 billion. That was the worst decision ever made in the monetary authorities probably in centuries.

So what did that do? That ignited the central banks around the world to say, hmm, what’s to prevent them from doing that to us? And that’s been basically the spark that’s caused at least one of them, I’d say the major one, for the run to gold that started with the central banks, because gold is ubiquitous. It’s money. It’s been money for thousands of years.

Everything Peter and I say almost every interview, but it’s true and it’s important because if you fear that the sanctions could take place on you next and you’re holding the anti-dollar gold, you put yourself in a pretty good position. And that’s what’s taking place. So coming back to your question, it’s certainly not a moot point, Jesse.

I’m not trying to make light of it. But in context of the bigger picture I just tried to outline, I think it only strengthens the BRICS because now it’s currency to currency. Screw the dollar.

I’m going from the real to the ruble, the ruble to the yuan to the peso, and we’ll trade amongst ourselves. And that’s working out pretty well. On top of that, they’re all pro-gold.

You look at China and Russia in particular, and then even some of the lesser BRICS countries, and the philosophers are a lot more than five now, are looking at what is their reserve requirement going to be. And it’s certainly not U.S. dollars. It may be a reserve in their major trading partners, say it’s Russia or China, so they might hold some ruble or yuan.

So it’s significant in two ways. One, the big picture I just outlined at the beginning. Secondly, the more trading amongst the BRICS countries, the more vibrant it becomes.

And the more participants they have, the better it becomes. If it was just you and I trading Canadian dollars for U.S. dollars, and that was my only other currency, I may have a problem because now I can’t use that currency. But if I’ve got 12 currencies, 15 currencies, I got a lot of options.

I could trade that currency for a lot of other product services or whatever. So I think I’ve said enough, but it really upsets me that such a almost sinister, in my view, I’ll use that word, sanction took place to really disrupt probably the financial stability in the long run. Yeah, I agree with everything you’ve said, Peter.

Any thoughts you have on the BRICS? Do you think that this is going to accelerate their alliance? Yeah, I mean, you know, I don’t have a lot to add to what David said. My thinking was similar in the sense that the bigger the BRICS get, the easier it is for them to trade with each other, because as he said, it just gives them options. I mean, if Russia doesn’t want to hold on to yuan or rupees or whatever it might be, they could use these to trade with each other.

They can swap currencies and then they can use another currency to buy something from a country that does have something that they want. But it just gets easier as there are more members to the BRICS. The other thing I’d want to add is that someone who’s, let’s say, selling oil to China, for example, because China is a big consumer.

If they don’t want to hold yuan, they can simply take that, go to the Shanghai Futures Exchange and take gold in exchange for the yuan. And then they can sell that gold and get the currency that they want. So in particular, at least with China, which as we know, is the world’s factory, even if it’s just China, there are so many options once you’ve sold something to China.

And even if there is something that you don’t want from them, you still have that final out of swapping for gold and then doing what you want with the proceeds. So there are a lot of options. It’s definitely something that others need to be concerned about.

The West should watch that. There’s one question I want to throw in here that I didn’t have prepared, but it just came to mind. In this scenario where silver does go ballistic, as many people have been calling for at some point, let’s say we get to triple digit silver.

Is that a situation where you would personally sell a portion of your bullion? Would you sell a great portion of it? Would you sell all of it? Or would you look at that as kind of an indication, let’s say if gold soars along with it, that the fiat system is failing, perhaps the Keynesian experiment is coming to an end, as Craig Hemke likes to say, and that would maybe make a stronger case for holding on to the bullion and not selling at any price. I’m wondering what both of your thoughts are there. David, I’ll start with you.

That’s a very tough one. First of all, you have to measure it not in terms of paper price, although we all do. You have to look at what the value is.

In the gold example we’re all familiar with, if a gold coin buys a fine-min suit, hat, and shoes, and the gold value gets where you buy 10 min suits, hat, and shoes, it’s overvalued. Now you’re going to take that and do what with it? Fill in the blank, sell it for fiat, maybe not. I would look to exchange it for something that’s undervalued, maybe land, maybe improved real estate, maybe a business, perhaps a stock market, I don’t know.

But if it was quite overvalued, I would look to sell some. But it could very much be an indicator of the move into a new system, or the collapse, but the potential readjustment in the financial system. I wouldn’t be anxious to sell it all, but if it gets overvalued, I’d be certainly looking to diversify out part of it.

That’s kind of what I would consider, and I won’t speak for Peter, but he may agree with me, probably one of my hardest jobs is when I get to what I think is the top, call it a top or near top, so I’ll have people that say I’ve turncoat, I’ve joined the Illuminati, I’ve become a trader, there’s something really wrong if we call the top silver, so that’s number one. And then to say, yeah, you ought to sell some and put it into raw land or the oil market or whatever, but I have a duty to my readers and to myself, and I call them as I see them. When I actually call the top in the end of April 2011, I won’t name names, but there were some pretty well-known people in this space that wrote me a rather curt email saying, you’ve lost all credibility, you’ll never be able to put your face in public again, you’re shaming us and the industry, silver’s going to at least 100, I’m so sorry about what you did.

And of course, I called it within three days of the exact top. Never got an apology from that person. And I never said I’m going to get the top.

I’ve been lucky to get the top, but that’s why you do the valuation I did. I don’t want to over-talk this, Jesse, but you got to do some common sense. So, an ounce of gold buys eight men’s suits, and at the top it buys 10 men’s suits, and you got out at eight.

Are you going to beat yourself up for the rest of your life if you didn’t get the tippy top? I don’t think so. If you’re a mature adult, you said it was overvalued, I took advantage of it. Yeah, very interesting analysis there.

Peter, what are your thoughts? Would you be selling silver and gold if it got to these outstretched valuations by your metrics? So, the first thing I can say is that it’s hard for me to follow David on this one and have something of value to add because he basically said what I think. And the one thing I can say is that, and it’s probably just restating what David said, is that it’s all about context. If silver did go to $100 tomorrow or two years from now, I can’t answer the question because I don’t know what the environment will be like at that point.

So, that’s what determines what I would do at that point in time. So, yeah, like I said, I can’t add anything to it. It may very well be that I would sell most of it at that point if, like David says, if I felt it was very, very overvalued, or sell almost none of it if I thought that it was fairly valued or even still potentially undervalued.

If you had some kind of hyperinflation or some kind of massive economic crisis, then it may seem very cheap and people may be clamoring for it. So, you may not want to let it go. It really is all about context.

That’s really the most I can say. Yeah, interesting thoughts from both of you. I wonder if we could hone in for a moment here on the silver mining sector and ask if you’re both seeing any value there at present.

And if so, which areas of the market you find most favorable? Obviously, pure play silver miners, there’s not very many out there. But even ones that maybe produce silver as a byproduct, any play in the silver space without naming names specifically, because I know you both do that in your services, but just areas of the market that you’re currently watching that you think might look undervalued. David, what are your thoughts? Well, I just added one in the junior space, which we don’t, we spend a lot of time there, but we don’t put a lot of money there.

Because I learned the hard way. I was probably a bit younger than you, Jesse, and I was going to strike it rich and boy, I put all this money into the juniors and got killed. And so, when I developed the Morgan Report, it was blue chips first, mid-tier second, and speculate.

Speculate was some type of plan. And so, that’s worked out pretty well for us. But I’m a big believer that the grade is king.

And we have one that is the same management team we’ve had in the past that’s got a great track record. They have a good treasury and they have a very high grade position. So, we’re happy to add that.

It gives you a slight advantage of those things. But there’s a lot of opportunity to the leverage in silver with the miners. And actually, the juniors do give you the most leverage.

But I’m not that content to move into that sector yet. I think it’ll come in later in the cycle. But when you got something kind of, I don’t know if it fell into my lap.

One of our new hires went and did the mine tour. I know, again, the people from previous dealings. I’ve been in this for a while.

And everything lined up. And it’d be kind of stupid on my part not to put it out there. And as far as I know, we’re the first to do a full report on that particular project.

Being first is not always best. It’s always best if you’re the first and it works out. Then you have bragging rights and oh, I wish I bought the Morgan report.

But I’ve been first on basically a technology situation. It was called, oh, I forget the first name. It changed its name to EnviroLeach.

It changed its name to EnviroMetal. It’s still legit. The fluid does work.

There’s no hocus pocus, but the company’s basically bankrupt. And I was first on it and last. I mean, really, no one really seemed to come on board with that company for whatever the reasons are.

So you can be first and correct and still lose money. And I look in the camera and say, I did. I mean, in a way, I never want to hurt anyone that follows my work.

And if you obey the rules, which are speculations are just that until they prove themselves otherwise, money can afford to lose. So if people follow that advice, they’d be okay. And I don’t want to drone on too much, but there’s a lot of opportunities out there in silver.

A silver mine is a rare find. I mean, as you said, Jesse, 70% of the silver comes to above ground because of copper, lead, zinc, or gold. I mean, 13% of the silver supplies from gold mining.

So you’ve got a good silver project and you got a high grade where you’ve got, oh, I’ll make up a number, 120 to $250 rock. If you’re a hard rock mine, I’m interested. And that’s kind of where this one that we just featured is at.

So I’ll turn it over to Peter. Yeah. So from my view, I think that given the action that we’ve seen in the last couple of quarters, I mean, there were two really big mergers.

I was saying for, I’m going to say since at least late 23, early 24, that this was going to start happening. And then within like a week or a few weeks of each other in September, we had first Majestic buyout Gatos and then we had Kerr buyout Silvercrest. So I think that, I mean, the space is already small.

It’s just gotten smaller, especially on that end of it. I think that the, although there’s room, I still think that these larger players are maybe not, there’s value, but less than there was. I would say that I see a lot more value in smaller producers, mid-tiers and smaller producers and developers at this point.

And that’s where I see potential because I think that M&A is going to probably start to move down the food chain and they’re next in line. And there’s so few of any of these, we talked about true Silver deposits or even high grade and high percentage Silver deposits. So many are masquerading as Silver when they’re really Silver equivalents.

And then if you really look at, that’s why, that’s one of my first filters when I look at a so-called Silver company. If the Silver is, you know, somewhere below 30, I’m pretty much out. If the Gold, I’m favorable, I’ll be more lenient if the Gold makes up a portion of the deposit and helps bring the Gold-Silver value to somewhere close to 40%.

I still want to see more Silver than Gold. But yeah, I mean, these things are a rarity. And so I think that they’re going to really drive a premium at some point in the market.

And so you need to be positioned for it. But like I say, the middle sort of area of the market in terms of size, in terms of advancement of projects is really where I’m looking right now, where there’s the most meat. There’s no question that many of the juniors are dirt cheap, stupid cheap.

But obviously there’s more risk. And until we have, you know, maybe until we start to see the Silver price start a new rally cycle, then, you know, I would still be interested in that space. I still am interested in that space.

Again, the most compelling part right now is right in the middle. Great. Well, this has been a fantastic conversation.

David, tell us about the Morgan Report. And also, I know that you have an Ask Me Anything event, a free event coming up. It’s actually going to be airing two hours after this airs on the VRIC channel.

So for those who have just watched this, you can jump right over to David’s AMA. It’s free. So tell us about that as well.

All right. The best thing to do is go to the main landing page, which is TheMorganReport.com. Give me a name and an email. You’ll opt in for our free letter.

Of course, there is a paid service. You can investigate that. There’s an op, there’s a button at the top of the website you can explore.

And then I would like to say that I decided to do an AMA because I think this is the year where we’re going to see a bigger transition, not just politically like we just witnessed, but in the markets themselves. Stock market’s overvalued by any metric you want to use. It wouldn’t surprise me to see some kind of decline rather significant this year.

Bonds are already painting a different picture than they have in the past, as we outlined earlier in your show. And then a shameless plug for the documentary I’ve worked so hard on for more than a year now. It’s at SilverSunrise.tv. The filming is complete.

The editing is taking place. And there are several trailers up on that website that you can view and kind of get a flavor for what the movie’s about. Really taking a little bit of a different cut on the monetary problem.

And I’m looking more or less at the spiritual side of money. Why money has so much control over us and why a sound, honest system is superior to a control mechanism to basically subjugate the people at large. And I’m not talking US or Canada, I mean on a worldwide basis.

So, you might want to take a look at that. Thank you for having me on your program. Yeah, I’ve seen some of those preview clips for Silver Sunrise.

It looks amazing. But just real quick for the Ask Me Anything, they can find that at the Morgan Report? Yeah, the way to get it, I’ll put it up on my Twitter. But you have to be on the free list to be able to sign up for it.

So, if you get to the landing page, you get the first name and an email. We’ll mail it about three or four more times before the actual event. That’s the easiest way to sign up.

I will probably cut and paste the URL, stick it on my Twitter a couple times. But there are advantages to being on the free list. I mean, every now and then a dealer will want to use the list to come on board and offer a discount on.

It’s hard to be overstocked in silver, but whatever. They got, you know, some off Bitcoin, they want to, you know, discount and I’ll use my list and they’ll sell out or whatever. Doesn’t happen often, but it does happen.

And then, of course, you get insights that, you know, I’ve been working on most of my adult life. So, it doesn’t cost much. And it does have value to it.

Great. Well, I’ll put the link in the description below to Morgan Report as well as Silver Sunrise and your Twitter so people can find that link if they need to. Peter, tell us about Silver Stock Investor and also your new service, Silver Advisor.

So, Silver Stock Investor is, from what I know, the only silver-only focused investment newsletter. And I cover the whole space from, in some times, in some ways, from physical and physically-backed ETFs to silver ETF equities, and then the royalties, the large producers, right down through the mid-tiers, the developers, and the juniors. And I’ve got some proprietary research in there also from time to time.

And that’s actually moving now from being published from a bi-monthly schedule to likely to a weekly schedule to shrink down the volume of data and reading for subscribers and make it a little more digestible. And then Silver Advisor is something that I launched just about three weeks ago. It’s a free service.

So, people can go to thegoldadvisor.com slash registration. They can sign up right there for Silver Advisor. And really what we’re doing is we’re following companies that, in some cases, may be graduating from Silver Stock Investor to this new service.

And in some cases, I’ll be adding companies that are not already being followed in Silver Stock Investor. But this is a way for people to get investment analysis, quality research on companies for free. What I do is follow their press releases, any material news.

I will review, summarize, explain, and comment on, usually same day. So, people have a chance to react to that news the same day, and if not, the next day. So, that’s something that people can get for free now.

And that’s the easiest way. Great. Well, I’ll put links to both Silver Stock Investor and Silver Advisor, that registration page, in the description below.

Thank you so much, gentlemen. Always love talking silver with you guys and can’t wait for the next time. Thank you.

Thanks, Jesse. Always a pleasure.