(7/18/2025) | AUDIO CHAT 182 | SG Sits Down w/ Patriot Metals Expert Kirk Elliott: Silver Cup and Handle Biggest in History

➡ The Q News Patriot Rumble Channel discussed the rapid changes in the financial world, particularly the economic landscape. They highlighted the increase in Swiss gold exports and the potential for 401K and IRA markets to open to crypto gold, private equity, and other alternative assets. This could significantly change how Americans save for retirement. The discussion also touched on the demand for physical delivery of gold and silver, indicating a shift in trust away from traditional banking systems.
➡ The speaker advises against buying commemorative or rare coins, as they are often overpriced and difficult to sell. Instead, they recommend buying bullion, a globally recognized commodity used in manufacturing, which is easier to liquidate. They also discuss the current market trends, highlighting the potential for silver prices to rise due to high demand and low supply. Lastly, they express concern over banks’ liquidity and the potential for a financial crisis similar to 2008, due to changes in the bank’s supplemental leverage reserve.
➡ The text discusses the potential economic downturn and its political implications, emphasizing the importance of economic growth. It suggests investing in tangible assets like gold and silver, which have shown significant growth, as a way to navigate through this situation. The text also mentions the possibility of returning to a gold-backed currency and the increasing interest in cryptocurrencies, which can be backed by real-world assets. The author believes this could lead to a paradigm shift in our financial landscape, moving away from centralized banking towards a digital world.
➡ The world is changing and paper currency might soon be replaced by digital or physical bartering due to potential economic collapse. It’s important to invest in tangible assets that can grow and thrive in such times. Dr. Kirk suggests reaching out to him for advice on investing in metals, which can help create a stable portfolio even in uncertain times. You can contact him through the provided link or phone number.

Good afternoon, patriots, and welcome to the 182nd audio chat on the Q News Patriot Rumble Channel series. I’m the Q News Patriot, joined again today by Dr. Kirk Elliott from Kirk Elliott Precious Metals. My name is SG and on. Well, Patriots, I have to say, you know, I’ve been underwater for four or five weeks now managing some difficulties in the personal world sphere and some of those are well in hand and others are still needing a little bit more babying and tlc, as they say as we continue to go through the rest of the summer. But the changes happening in the geopolitical and especially in the financial world are so intense and so rapid fire at this present moment in time that I thought it was really important to come up for air, at least for a discussion on this very important issue.

We’re seeing a lot of changes coming to the economic landscape. We’ve seen a lot of changes stimulated now by the passage of this one big beautiful bill and the weeks and months to come to see how that affects the economy. So a lot is in transition. To Dr. Kirk, I appreciate you taking the time to come on the show and talk with the audience again today. I’ve got a couple of articles that I’d like to start us off with, if that’s all right. Perfect. First article coming from mining.com Swiss June gold exports jump 44% month over month as bullion returns to UK Gold exports from Switzerland jumped 44% month over month in June to the highest level since March as bullion flew back to the vaults in the United Kingdom from the United States via Swiss refineries.

And then Another article here, Dr. Kirk finance.yahoo.com Trump plans to open for a 1K and IRA markets to crypto gold, private equity, equity and other alternative assets, a move that could fundamentally change how millions of Americans save for retirement. Thank you for joining the show. Take it away, sir. Well, both of those are really amazing articles that you brought. Right. And of course that would be. I mean, you’re a fantastic researcher. But, but those are just the tip of the iceberg. So what is the first article? Tell me. Gold leaving Switzerland, going to London. Okay, what’s in London? Lbma.

What’s lbma? The bank of England is the largest vault for gold and silver in the world. Basically, they’re the ones that store metals for central banks. So, so the numbers just came out three days ago on LBMA vaults. The amount of free float silver, for example, in London is the lowest it’s ever been, ever. Like they’re truly running out. So this is a problem. Now the gold leaving Switzerland, going to London tells me that, that there’s probably a lot of people SG that are wanting physical delivery. You know, it’s called RFP request for physical. So you have to have it in the depository system if you’re going to deliver it.

You can’t deliver something you don’t have. Right. So the, the point of all of this metal going back into London is probably not because it’s going to sit there and it’s coming home to roost. It’s probably not going to be there very long because of the request for physicals and people wanting physical delivery. I mean this is such a change from the way that futures markets have worked in the past, right. Where you have a futures contract and they usually expire, they just settle in cash. Right. Nobody ever wants physical delivery in futures unless you’re a manufacturer and you’re saying, yeah, I need the silver, I need these pork bellies, I need the sugar cane or whatever you have need physical delivery for if you’re a manufacturer, investors, hedgers, speculators, generally they just settle in cash.

Right. But, but now we’re starting to see something completely different and people wanting physical delivery. Now there was something that happened. Well, actually I want to cover this 401 case. This is massive before I get into the next thing, but. So 401ks unlocks so much more demand for crypto. And in this article you’re talking about gold and silver as well. Right. And private equity and things of that nature. So what’s this going to do? Normally these have not been available in 401ks. They just haven’t been. But imagine the amount of money sitting out there in people’s retirement plans.

It’s way more than people have in cash. Way more. It’s more than people have in IRAs. So with this and the fact that you’ve got crypto and gold and silver both being going to be able to be added to 401ks tells me that people are going to take advantage of it for one, because you wouldn’t have to provide something if there was no demand for it. Like why, why would it even matter? But, but here’s where when I look at crypto, I look at gold and silver. Fundamentally they’re the rationale behind them is the same meaning people go into crypto and to the centralized blockchain, not centralized like central bank digital currency, which, which was part of the genius bill.

Right. It’s like this unlocks the door for CBDCs. But, but decentralized blockchain. People go into that because a, they think it’s private, like Bitcoin, Solana, Ethereum, xrp, whatever, and they want growth and so they want privacy. They want growth and they think that it’s safe. Why do people go into gold and silver? Because they want privacy. They see, see growth and they think that’s safe. Same reason. Right. But now fundamentally, they’re completely different. One’s digital, one’s tangible. Right. So, so, but the rationale of this bill, of this, what Trump is wanting to do, tells me that people everywhere, you’re starting to hear noise, you’re starting to hear chatter of we don’t trust the system, we don’t trust the banking system, we don’t trust the Federal Reserve, we don’t trust the government.

Right. And so adding these options into 401ks, I think is going to be massive. When you have this much more demand and already diminishing supply, you’re going to see the prices go up. So in my mind, I’m thinking, ding, ding, ding, let’s allocate into what the demand is going to be going into. That would be. Right now, I would do silver. Why? Why silver as opposed to gold? Well, because it’s in way short supply. Like literally, like we just talked about a few minutes ago, London has less free float silver. Free float silver is the amount that’s available to purchase, like these vaults all over the world.

It could be depositories in the United States or in Europe or anywhere. They’ve got a lot of silver and gold that’s stored there. That’s not part of free float. That would be like you and me storing something. It’s not for sale, right. We’re keeping it. Free float is stuff that’s for sale so investors, manufacturers actually can have access to it and buy it. That’s the lowest ever. Like, literally the lowest ever. Well, in one day last week, 483 million ounces of silver were shorted. And in Comex, in one day. This is so. It’s like Kirk, is this a big number? Is this a small number? Right.

It’s like you don’t know the context. You don’t know the context, but this is massive. So 483 million ounces SG equates to 57% of all the silver mined in the entire world in a given year. So all the mines everywhere, all throughout the world, 483 million ounces is 57% of that. That was shorted in one day. Here’s what comes next. There’s not enough ounces out there to cover that. There’s not enough ounces to actually cover this. This has short squeeze written all over it. Right? So as your viewers here have heard us talk over the last couple of years, right.

About the gold and silver ratio, which you have on the screen right now. Okay? So. So this is what tells us, should we be in silver? Should we be in gold? Well, the ratio a week and a half ago was 93 to 1. Today it’s 87 to 1. In a week and a half, it’s come down six points. See, historically, the number has been in, you know, distant history, 20 to 1. In 2011, we had 30 to 1. But let’s just go to a 40 to 1 ratio, right? Which is not even the average. Right? Let’s just go to a 40 to 1 ratio.

That’s half of where we are today. Half. So if we’re in silver and that ratio gets squeezed and we go from 90 to 1 to 40 to 1, we could sell our silver roll into gold. We get twice as many ounces of gold then as what we could have purchased today. That’s what happens. It’s not. It’s not magic. It’s just math, right? You’re. You’re allocating into the one that’s outperforming, which. The ratio at these high levels of 86 to 1, 87 to 1, 90 to 1, where we’re floating around right now, that tells us you go into silver.

When it comes down to 40 to 1, start liquidating yourself or going into gold. And then at the bottom of the trend, we’re going to be 100% into gold. So it’s not that I dislike gold. I just want to be in the one that’s outperforming so we can get you more ounces down the road. That’s wisdom. That’s being a wise steward with what you have. That’s identifying the trends in this market that we can’t change. We can’t change these trends, but we can identify them. And when we identify them, we act accordingly. And this is how you can profit during wild situations where everybody right now is operating out of this point of fear and uncertainty.

They don’t know what to do, and they can’t say that I blame them. Right. The world is crazy right now, but there are things that we can. I mean, absolutely, you just identify and you don’t operate with fear. See, this is what really bugs me about the. The industry that I’m in and the precious metals, right. People operate out of a point of fear all the time. You watch, you watch any different podcast out there and you’re going to have a hundred different gold or silver dealers pitching some kind of a weird rare coin collectible commemorative high priced garbage.

Well, this is what makes me sick to my stomach, literally disgusted because I had a client that shared with me an invoice from another firm from back in silver was like $25 an ounce. Okay, so this wasn’t too long ago, just like last year. Well, when at $25 an ounce we do bullion, right? So this is what we do. It’s 8% cost of ownership, zero. When you liquidate, you could have gotten 1 ounce of silver for literally less than $30. So where do we think silver is going? 75, 80, 100. You know, over the next 12 months it’s probably going to be in that range.

Well, at that time when silver was 25 and you should have gotten bullion for less than 30. The invoice that this client showed me, they got some commemorative coin, right? With, with somebody, the conservative figures face on it that you know, we all, it’s a hero in the movement or whatever, right? And it’s like because this is rare, because this is a special thing, we’re going to load you up with these things and they’re $70 an ounce. Okay? So here’s where what happens when you’re at the top of the market and that firm can’t afford to buy back these metals because they’re under capitalized, right.

Everyone’s selling and there’s not enough people buying. They’re going to just sell them to the depository. What’s the depository going to pay for these things? 4% less than spot. That’s melt price, right? Because they don’t want them. They don’t. The depository doesn’t want some kind of a commemorative or rare coin, they’re going to melt them down to make them into a coin or a bar. So here’s what makes me so disgusted when you look at these things. Somebody paid $70 an ounce. When silver hits 70, that’s when those clients are breaking even. To get to 70 to break even.

People who bought bullion have doubled more than 100% gain on their investment, right? So it’s like, this is disgusting to me. And I don’t think that people are actually going to see the fallout of buying rare and collective and commemorative coins until it’s time to liquidate. That’s what hurts. And you see so many commercials out there about these things. This is why the point I bring this up is to tell people not all gold is good gold, not all silver is good silver. Right? Just like you know that not all car manufacturers are good car manufacturers.

There are some that are better than others, right? Some that are more reliable than others and blah, blah, blah. Well, I would only. Which is why we do that this way. Only buy bullion only because a, there’s always liquidity on it. It’s, it’s a global commodity, right? It’s used for manufacturing. When you want to sell it, all we do is press a button at the depository because you’ve got people in line, Samsung, Boeing, Lockheed Martin, Sony, whoever that are buying it to make their components, right. Rather than something that’s a commemorative and you have to have some salesperson on the phone saying, hey, have I got a deal for you.

We just got this inventory in and we want to, you know, blah, blah, blah. We all, we’ve all heard those, those pitches, right? So, so to me, liquidity is key. Don’t pay, don’t overpay for your stuff. Be in the right place at the right time. But when you’ve got the stories that are happening right now, sg, with LBMA running out of silver, with Comex having the largest short positions ever, like literally ever, somebody’s going to get squeezed out of this, right? And when you’ve got big banks that have to cover their short positions at some point down the road.

Why do companies, banks, financial institutions short anything? Well, they expect the price to go down. This is how banks have manipulated the silver market for decades is they just short it, right? And they make money hand over fist in multiples when the price goes down. But what happens if the price goes up? They lose money in multiples hand over fist because it went the wrong direction. They were expecting it to go down. That’s what a short does. If it goes up, they’re losing money hand over fist. What happened last week? So you’ve got all these short positions and silver still went up a couple bucks.

I mean, still this tells you how resilient the markets are. Normally that would have caused the price to come crashing down. That many shorts in one day? No, didn’t. Price went up. This just tells you the how much strength is behind this market. And what’s going to happen when banks have to cover their short position? They need to buy it. Well, what if there’s no availability? The people who own it can start driving up the price and say, okay, you need it, we’re going to offer you 40 or 50 or $60 in it. Right. It’s like, okay, then they’re going to have to buy it.

They have to cover short positions. And when there’s no supply and high demand, prices go up. So now that’s one reason why banks are in such a pickle. The second reason is, and I covered this on some shows that I was doing a couple weeks ago, banks are running out of money. I think they’re on the verge of being illiquid. Right. And why would I say that? Well, Jerome Powell, chairman of the Fed, floated an idea two weeks ago to change what’s in the bank’s supplemental leverage reserve. Which means after 2008 and 2009, the big crisis that we had.

Right, right. Stock markets Both came down 50%. The S&P 500, the Dow both came down 50%. Why? Because banks had too much liquidity. What did they do with that liquidity? They started giving out loans willy nilly to anybody who could basically fog up a mirror. Right. It’s like this was the subprime lending crisis. People were getting loans that shouldn’t have because the banks needed to do something with all this liquidity. Right. And so that caused a financial meltdown. So after that they tried to put a bandaid on this, say, okay, all these toxic assets, these toxic loans, these toxic portfolios that these banks have, you have to have cash on hand to help protect against your toxic assets.

That’s the supplemental leverage ratio. Cash is what was used. Jerome Powell two weeks ago floated the idea. Let’s change what this ratio can include, what the reserves can include to US Treasuries, like, hmm, okay, I see what’s going on here. Treasuries are Basically, they’re down 10% year to date. It’s only halfway through the year. We’re on pace to lose 20% in U.S. treasuries this year alone. Is that a safe haven asset? Is that a risk free asset that banks should leverage or hedge their leveraged assets with? No, it’s going to, it’s on pace to lose 20% this year.

That’s not risk free. That’s silly. Right, but why would they have to do that? Well, because of the de dollarization of the world with the BRICS nations and Russia and all these countries de dollarizing, dumping their U.S. treasuries. Oh, how about if we have built in demand for these Treasuries and we allow banks to now bring them in? This is going to provide liquidity. This is going to be 2008, 2009 all over again, in my opinion. Too much liquidity. They’re allowing dollars or US Treasuries, not dollars, US Treasuries to come in. And this is a problem to me.

This has 2008, 2009 written all over it. This is probably one of the reasons why Trump wants Powell out of there. I mean, they’re, they’re just at odds with each other constantly. And Trump is saying, powell, you gotta lower interest rates, stimulate the economy. We’ve got this big, beautiful bill, and it adds deficits to the economy. We have to grow the economy to pay for those. Powell, nobody’s fool, right? And I think he’s playing political games here. And it’s like, well, what if I don’t lower interest rates? What if we keep them the same or even raise them? You drive the US Economy into a recession, there’s not enough money to pay off these deficits that are coming.

We go into a recession. Trump only has literally eight or nine months to turn this ship around. Why do I say that? He’s only in his first year. Because eight or nine months, there’s another election. The midterms people, it was during the Clinton administration. What did they say? It’s the economy, stupid. People vote with their wallets, and they do. We don’t turn this ship around economically by the midterms, the conservatives lose the House, the conservatives probably lose the Senate, right? And then it’s a stalemate. And who’s gonna get the blame for a recession? It’s not gonna be Jerome Powell.

It’s gonna be Donald Trump because he’s in charge. He’s the president. Jerome Powell is not going to get the blame for that. In fact, he might not even have a job at that point. So you keep this going on and on and on. Don’t lower interest rates, don’t stimulate economic growth. Rather, your policies are doing the opposite. It’s very political, in my opinion. This isn’t rocket science, which means it’s just a political game that’s being played. So all of this we’re looking at, how do you respond? How do you navigate through this and, and get through this maze of complexity? To me, it’s not that hard.

Not really a maze of complexity. It’s almost like a straight and narrow. It’s like you allocate into strength. You allocate into something that’s real. Silver is up almost 40% year to date. 40. This is fantastic, right? And it’s like, that’ll put a smile on anybody’s face. Anybody. But the best is still yet to come, Right? Because when you look at what causes gold and silver to go up, it’s a supply and demand. Get rid of all the noise, all these other stories, everything that you’re hearing, it’s always supply and demand. Low supply, high demand, prices go up.

High supply, low demand, prices go down. I mean that’s as basic as it can get. But now add to that geopolitical consequences of the wars and the rumors of wars and, and add that to the supply and demand that we have at Comex. Add that to the unsustainable historic short positions in silver. Add that to the inflationary pressures that we’re seeing with tariffs and with the printing of money and QE and everything else. Right? And send. And then those are the fundamental forces that cause gold and silver to go up. Now let’s look at the technical ones.

If you look at a technical chart of silver, a long term one like a 40 year chart, obvious cup and handle formation, I mean 40 years in the making. And what happens, you have a price of 40 years ago in the 70s, silver was like 50 bucks an ounce. It comes down, it looks like the Big Dipper, right? It comes down and then it goes back up. We’ve finished the cup formation which it took 40 years to do. Now what comes next is the handle. That’s where prices start to reach stratospheric levels, I mean, and go up really fast.

This is, it’s like picture like the Big Dipper. What we’re entering into right now is the handle on a technical chart. It’s like oh my word. We’ve got fundamentals and technicals all converging at the same time and we happen to be alive. This cup and handle formation is something SG that is a once in a generation opportunity. I mean it took 40 years to create. I mean what you’re going to be around another 40 years from now to see maybe something hand happen again. This is a once in a generation opportunity and you’ve got fundamentals and technicals all playing into it.

Our goal is to minimize risk and maximize return. To me, I don’t see any other better options given the world that we’re living in right now. I think that’s very well put, Dr. Kirk. And that’s going to lead me into my very last question for our conversation today. And that ties into reimagining, redefining or transfiguring our current financial landscape into one that’s based on solidarity and real value and tangible worth that can be measured across international boundary lines. That of course is the world that we all have to work towards if we’re going to restore trust and commerce.

And so we’ve seen several US States actually come out and either outright legalize, within the case of the state of Texas, or going through the process of legalizing currency or, excuse me, gold and silver to be used as currency like in Missouri and in Florida. Is this a harbinger of a reinterpretation of the gold, silver, platinum and other metals markets from an asset market into a currency market or perhaps a blended landscape? And what would that do to the long term impacts, the long term valuations of those markets? Yeah, two parts to that question. The first part is in, I don’t think it’s a reimagined world.

I think it’s the imagined world that we’re now starting to live in. You know, it’s been planned out for a long, long time. We’re at the point now it’s like going back to once, what once was, right, Gold backed currency. You know, but that’s how the founding fathers envisioned it, that currency has to be gold or silver coinage. Right. So we got away from that in 1913 with the Federal Reserve act and then the IRS and all this other garbage that came. Now we’re going back to what once was, which is stability, it’s accountability. Because when you can play with other people’s money and you can print money willy nilly because you have a printing press, you’re going to get inflationary pressures, you’re going to get problems.

And this is where people are seeing, I don’t trust the government, I don’t trust the central banks, I don’t trust my local bank, I don’t trust anything anymore. And we’re going back to what’s real. So, and what does this new landscape look like? Yeah, I do think it’s going to be gold backed currency, which is why you’re seeing central banks around the world allocate into hundreds or thousands of tons. That’s why the BRICS nations are, it’s why Russia dumped all of its US Treasuries and they have this massive amount of gold hoard, you know, backing up the ruble.

That’s why you’ve got the Fed, why you’ve got all these, you know, what’s, what’s in Fort Knox? Well, we’re going to find out. Hopefully they can audit this place finally. Right. And so, but you’ve got countries that are looking at gold and silver to back individuals like you and I and many of your viewers, right? Who are taking matters into their own hands and doing what the central banks are doing. And it’s like, yeah, we don’t trust the government, we don’t trust the banks, we don’t trust the central bank either. We’re going to actually allocate into physical silver for barter.

Gold is a protection against a collapsing dollar. But here’s where the mood is shifting and I can see it because we talk to hundreds of people a day at our firm where gold and silver used to just be an insurance policy against a collapsing dollar. People only look to it for safety. The psyche of America is starting to change and the fear of missing out. People are now starting to look at the growth because gold is at an all time high, because silver’s even outperforming that. And it’s like, I don’t want to miss out. So doesn’t mean that you don’t have safety.

You still have the safety of a tangible asset. But the mood is shifting towards, I don’t want just safety, I want growth. I’m afraid I’m going to miss out when the public gets behind this. This is where you really start to see massive increases in price. So yes, I think we are on the verge of a paradigm shift now. We’re also seeing it in the move towards cryptocurrency. Right? And, and the ability, you know, to build smart contracts on decentralized blockchain with like xrp, Etherium, Solana xlm, you know, the stellar Lumens network. So what does that mean? It means you can have real world assets backing up a token.

Look at, look at Paxos gold and look at Tether gold, right? I mean, for people who like decentralized blockchain and cryptocurrency, you actually have an option to have something that’s backed with gold that’s held in storage. Right. You can now add real estate to a token. You can add almost pretty much any asset. You can add art to a token. Right? So the world is moving away from centralized banking into a digital world. And this is where I start to see massive demand. When you’ve got people who just want physical gold and silver to be held in storage, but you’ve got maybe a younger generation says, I like cryptocurrency and I like it a lot.

And you can blend the old with the new by, by adding or latching onto real world assets to a cryptocurrency token, which is still going to create even more demand for physical gold and silver. Now some of the silly meme coins and whatever that actually have no value whatsoever other than what people place on it. That’s no different than fiat money. Right? It’s like, but something that has real world application, that has tangible assets backing it. I see the world as shifting and two years from now we might not even have paper currency anymore. SG maybe it’s only going to be digital or maybe it’s just going to be the physical that people are bartering with because everything collapses completely.

Either one, I would say start looking at tangible backed things because I think the world as we know it is about to change. And things that don’t have value, things that you can depreciate just by going over to the printing press and pressing the red button and printing as much money as you want, those days are numbered. I don’t think that’s going to happen too much in the future. And so we have the immense blessing of being at the front of the curve where even though it’s like, well Kirk, I could have gotten into silver when it was 17, it’s now pushing 40.

What are we going to do? Right? It’s like, well you haven’t missed, you’ve missed, yes, you’ve missed that move. However, what comes next I think is going to be even greater than where we’ve come from because you get the acceleration and the extreme part of things when economies and currencies are about to collapse. And I think we’re entering into that danger zone in the economy. Well, we’re entering danger zone. How can you have a smile on your face? Because there’s so much opportunity, the ability to be able to transact and allocate into tangible assets that grow and thrive and prosper during times like this.

It’s like, yeah, that does put a smile on my face. It truly is about having the right information. Dr. Kirk, I won’t take any more of your time. I appreciate you coming on the show. How can people reach out and contact you if they’d like to learn a little bit more about allocating into metals? So you can go to the link that you provide, aepm.com forward/sg. Or you can just call us 720-605-3900. Just say SG sent you. We make it really easy. Some people like to put it fill out a form because it might be three o’ clock in the morning when you’re watching this or just give us a call and we’ll call you right back.

Or we’ll answer the phone. I mean our phones are really busy right now so we might be an hour before we call you back. But we’ll call you back. We’ll get you scheduled. We’ll hear your concerns, your dreams, your aspirations, your goals, your fears, all of them. And help you model and put together a portfolio that’ll stand the test of time and put a smile on your face and grow and thrive. Even though seems like the world’s falling apart, your portfolio doesn’t. And that’s what we’ll help you with. Powerful indeed. Dr. Kirk, thank you very much for joining the show again for Midsummer’s Conversation.

For the audience out there, if you’d like to learn a little bit more, you can navigate down to the links in the description box below the video. This is SG and on. I’ll be back with each and every one of you again soon on the Q News. Patriot Rumble. God bless everyone. Stay safe today. Thanks. Bye bye.
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