Silver Breakout Coming? Michael Oliver on the Midterms Metals the Road to 2027

➡ In this podcast, financial expert Michael Oliver discusses his predictions for precious metals prices and the current state of the bond market. He believes that the ongoing increase in money supply and the potential collapse of government bonds are the main factors affecting gold and silver prices, rather than day-to-day headlines. He also dismisses the popular belief that Federal Reserve rate hikes negatively impact gold prices, citing historical instances where gold prices rose significantly despite rate increases. Oliver emphasizes that the current jeopardy of government bonds in major countries is a significant issue, potentially leading to an acceleration in money supply as governments print more money to support a collapsing bond market.
➡ The text discusses the fluctuating nature of the stock market and commodities, highlighting the role of the Federal Reserve in these changes. It suggests that rising commodity prices are not necessarily a sign of inflation, but rather a reflection of monetary inflation. The text also warns of potential financial crises due to the instability of government debt markets in major countries. It emphasizes the importance of precious metals as a stable asset and warns of a potential collapse in the financial sector.
➡ The article discusses the potential for a significant drop in the stock market, comparing it to previous market trends and crashes. It suggests that while the market may try to bounce back, breaking certain structures could lead to a major downturn. The author also mentions that similar structures are seen in major banks, which could also face a downfall. The article ends by discussing the potential impact of oil prices and Federal Reserve actions on the market.
➡ The speaker predicts a potential crash in the housing and commercial real estate markets due to historical patterns and current financial issues. They also discuss the resilience of precious metals like gold and silver, which have doubled in value despite predictions of a crash. The speaker suggests that government interventions in the market are not effective and that the real impact will be felt by everyday people. They also hint at a possible increase in oil prices and the subsequent impact on people’s lives.
➡ The text discusses the fluctuating value of silver and other metals over time. It suggests that silver’s value has been artificially kept low for a long time, despite its historical significance and demand. The author predicts a sudden and dramatic increase in silver’s value due to market corrections and other factors. He also discusses the performance of gold and anticipates a potential rise in its value.
➡ The article discusses the potential for a significant increase in the value of silver. It suggests that despite recent declines, there has been consistent buying activity around the $4,000 and $60 marks for gold and silver respectively. The article argues that if silver’s value surpasses $75, it could trigger a major upward trend. This is due to a pattern in momentum, which could act as a launch pad for a significant increase in value.
➡ The text discusses the current political and economic instability, suggesting that it could lead to significant changes in the future. It highlights the fragmentation within both major political parties and the potential for the rise of third parties. The text also mentions the possibility of states like Texas considering separation due to political and economic shifts. Lastly, it emphasizes the importance of being prepared for unexpected changes and owning tangible assets.
➡ A man mistakenly chose a Hershey’s bar over a 100-ounce silver bar, showing that wisdom doesn’t always come with age. The incident was discussed during a podcast, where the host thanked Michael Oliver for his insightful analysis. The podcast is sponsored by Noble Gold, a company that offers precious metals and financial services, including 401k and IRA conversions. They are currently offering a promotional gold gift for qualified accounts.

Hi everyone and welcome to the podcast. We have a returning guest, Mr. Michael Oliver, financial experts, service industry expert, particularly and notably most notably in precious metals King and gold and silver S P dollar index. And he has some charts that we talked about yesterday on our Noble Gold Channel podcast that we’re going to break down today with specificity so you can see what his price predictions are for the month of October for precious metals as well as the remainder of the year going forward. So if you’re new to the podcast please do like subscrib and share.

Helps the channel grow into others to gain in the knowledge are currently being afforded. As you know, Michael entered the financial service industry in 1975 on the future side, joining E.F. hutton’s international commodities division in New York City. In the 80s he began developing his own momentum based method of technical analysis which you know, he still uses today. Nearly 40 years later in 87 he technically anticipated and caught the insider trading crash. It was then he decided to develop his own structural momentum in 92. He’s the financial VP and head of Wachovia Bank’s trust department and they asked him to provide a soft dollar research for Wachovia.

He is the author of the New Libertarianism Anarcho Capitalism Marriage of the Concepts between the Ayn Rand and the Murray Rothbard, written in 1972 and published in 2013. And you can reach him at Michael OliverOliverus Excuse me, Michael OliverOlivermsa.com, which we will leave below in the description. And I am pleased to have the one and only Mr. Micha, Michael Oliver joining us back again. How are you? Good, sir, I’m doing well. John, thanks for agreeing to come back. We really appreciate it. You are, you’re definitely back by popular demand. So we’re going to show those charts at the end and some other things.

But let’s dig into the questions that we have. Let’s talk about what we saw Michael at the markets last week because we saw a fascinating intraday whipsaw Friday morning. A weaker than expected U.S. job reports dropped, which initially triggered a brief pop in gold and silver as traders anticipated a pause in the Fed rate hikes. But almost instantly that entire rally was sold off. As you know, silver and gold turned right back around in US treasury yields which briefly dipped, charged straight back up, forcing the 10 year yield towards fresh 24 year highs. The broader context here is crazy.

The US 10 year yield just wrapped up its worst quarter performance over three decades on a rolling 10 year basis. That’s practically the Worst the bond market has looked in almost a century. Yet, because the government structurally underreported actual CPI price inflation, the real 10 year yield is technically sitting at about 3% above its official numbers, as you know. So investors are taking an historic and an unprecedented bond market risk just to chase a measly supposed 3% return. As a precious metals expert, what did last week’s near instant reversal tell you about market positioning? When investors are willing to aggressively dump hard assets to lock in a 3% yield and a crumbling bond market, in essence, are we seeing a fundamental disconnect from reality? And how much longer can this real rate pressure keep a lid on gold and silver? Silver? I don’t think the rate pressure is keeping the lid on gold and silver.

I think there’s far bigger things that drive gold historically and therefore silver and the gold and silver miners. And it’s not day to day headlines. It is this government bond crisis. And this is a major event in, I’d say in the last hundred years. We’ve got European debt in jeopardy, we’ve got Japanese, they led the pack. And then we joined Japan in terms of having a government debt crisis or highly questionable view of that supposed safe asset. And it’s going to get worse. And they’re not in control of anything. I know that Besant said a month or so ago, I’m the boss now.

And then the other day he sort of admitted, well, I’m not meaning. The bond market has its own life. That is a huge nuclear event. And it is more directly connected to what drives gold than a lot of other news stories like Iran or things like that, things that come and go. It’s the ongoing degradation in the money units, the quantity of yen, the quantity of euros, uk, British pounds, quantity of dollars increase every year, every decade. In fact, over the last 12 months, I think the M2 has grown about 6 or so percent annually. And usually in any given decade, go back 50, 60, 70 years if you want, and measure where the M2 was, and then 10 years later, et cetera, and do that.

You’ll find that, you know, 80% increase in money supply every decade is almost a norm. Well, therefore, that explains why, for example, your granddad when he built the house was $4,500, your father 45,000 and now median homes, 450,000 is simply the ongoing decay in the real value of that which we call money. It is not money. It is fiat paper, okay? Gold has proven over thousands of years to hold its value, period. Yes, there are ups and downs. If you look at a chart going back to just say 50 years or so when gold was, quote, legalized in the US 1975.

Yeah, there’s some big drops, but basically it’s a major up, a surging arc, okay, which very much looks like the surging arc of an M2 chart money supply. Okay? And yes, a lot of little events will come and go in the process of these major advances in gold, silver, and not so much silver, though lately. It’s gonna, it’s gonna change. And the miners, it’s really the main issue is the ongoing decay in the money unit. And therefore another connectivity to that now is the pending what in the bond markets. You know, we didn’t have this in 2008.

It was a mortgage crisis. We didn’t. That wasn’t an issue. Now suddenly we have the government bonds of the major countries of the world in jeopardy. This is a, this is a nuclear event. And yet it’s, it’s still a, it wasn’t even talked about until about a month or two ago. We were talking about it a year ago, explaining this is, this is a time bomb written, ready to go. That is a major issue because the governments have no choice. What are they going to do? Say, oh, well, we’ll default? No, they can’t do that, of course.

So they got to print. And therefore that money supply is going to accelerate as they print more to buy this, buy that, buy bonds, buy whatever they have to buy to support a collapsing government bond market. Gold knows this. This isn’t an issue of mortgages going bad. This is a government debt going bad. And that is a bigger market than the entire US Stock market. Okay? So anyway, that’s what we’re facing. So when people like to turn their heads on, oh, what’s going on in Iran, oh, what’s going on with the Fed policy? If you go back and study, and we do this often, you get a subject, people think, oh, this is a truth.

You go back and examine it through time and find out whether it’s a truth or not. A correlation. For instance, when the Fed raises rates, does that hurt gold? Popular wisdom is, of course it does. Well, it’s total nonsense. You go back through history and some of the biggest moves in gold occurred when the Fed was going ape on the upside in raising Fed funds rate. Go back and look. From 1975 through 1980, fed funds went from 4% to 19%. Whoa. And yet gold went from, let’s see, it’s 77, about 100 bucks in 76 to 1980.

It was 850, went up Eightfold. And yet they, they increased the rates off the page. Okay, so that doesn’t seem to fit. But people ignore that. And there’s other instances of this, such that when you raise that alleged linkage, you don’t have correlation to prove that. This might as well flip a coin. Okay, now the Fed also raising rates. Are they going to raise rates? Well, we know that the President doesn’t want that and he appointed a guy, hopefully, who would not do that and therefore cut rates. But that guy faced a real problem because so many members of the Fed are, you know, they don’t like Trump.

But two, they’ve got an excuse to raise rates because a, quote, inflation, as they wrongly define it, is rising. Well, of course inflation is rising. It is always rising because the money’s always decaying and it always goes here or there or here. It doesn’t stay in the same place all the time, but it, the money flows. Sometimes it favors the stock market, sometimes commodities. I think that shift is now underway. Right. That’s what you got to look at is the decay in the money unit, ongoing, potentially a collapse in the money units and the bonds that are linked to those.

Those are the events that really matter, because those are, those are. They speak of a century of manipulation of what we call money and debt that is gone wrong. That’s what gold knows. So I don’t think the Fed is necessarily going to raise rates because I suspect, and this is a suspicion, one of their excuses is they blame it on rising commodity prices. Commodities go up just like stocks do. They don’t call rise in the stock market inflation, yet it’s promoted by increase in the money supply. That’s one of the benefactors. But then there’s times when the stock market has priced itself way too high for too long and suddenly money says, oh, I’m a little nervous.

I’m going to go to some other asset category that offers better reward, less risk, and they perceive it to be commodities, like they did in the late 70s. So they abandoned the stock market and all that money flow goes over to commodities. Well, recently, over the last year or so, especially since October, we put out a buy signal on the commodity complex. Tom, We’ve had a sharp upside in commodities way before the Iran event. By the way, we put out a buy last October. Bloomberg commodity index was 107. Right now it’s in the 140s. Okay, 107.

Yeah, it’s in the 140s now. And that’s a pullback. And Oil wasn’t a participant in that. Up until March, end of February, beginning of March, oil said, oh, I’ll join you guys because of the event in Iran. But the Fed likes to pinpoint these things like, oh, rising food prices, rising gas. But that’s inflation. No, it’s not. It’s merely a reflection of the monetary inflation you guys have been doing for a century. Okay. That’s the world we live in. So focus on the big issue is what I’m suggesting on the bullseye, the target. Yes, yep. The focus on money, because that’s what gold is.

That’s why gold goes up is because money’s going down. Yeah, exactly, Michael. It’s like you said, what is money? That was the premise of the conversation. Precious metals is the underlayment of it all. You’re absolutely right. A couple little things for my next question, Michael, just to piggyback on what you shared. We even. And you’re right, you’ve been talking about the bond yield for a while. We’ve had, as you know, other guests like yourself of a high caliber. Greg Mannarino comes to mind, has been talking for years about watching the Treasury 10 year bond yield. Some data sets suggest a 10 crash by next year, which will, as you know, be catastrophic.

Never mind when the 100 goes down, which is inevitable. Not to create fear, but the reality of preparation. To your point. And it’s almost like bad news is good news and good news is bad news because like you said, when you raise rates, by their theory it should drop metals, but it’s doing the inverse. So like you said on our first podcast last month, the thing I took away that was for me meaningful and hopefully the audience as well, is it isn’t about how high will precious metals go, but the speed and the velocity. You still feel that way.

Yes, I think we’re at that point now where the bull market in gold, this particular bull market began 11 years ago in 2015. The gold had gone from $1920 in 2011. We turned bearish shortly after that until 2015 low and it got to 1050. Right now gold is only four times that price level. And it’s done it in layers with pullbacks and layers and pullbacks. Late in many bull trends, especially dynamic, was you’ll see a, an acceleration phase. Well, right now gold has the fundamental for that acceleration, namely potential collapse, huge doubt about this viability of government debt markets.

Not, not in, in guinea or you know, some other third world country, but in the U. S, Japan, U.K. france. Now France is, you know, In a dire straits. This is, this is bigger than big, okay? And yet it’s a secondary issue of conversation like, oh well, the Fed will do this or the treasury will do that and this will pass over and bonds are a great buy and you know. Yeah, nobody’s have lunch in golf. Yeah, let’s go. Yeah, right. You know, this is an opportunity. Yeah. For what? Okay, Anyway, sometimes errors finally reach a point that you can’t play the game anymore.

They create results that have been pent up errors, pent up debt issues, pent up. And finally when they break, they break so big that you can’t put them back together again. And what I’m talking about is a century of central bank control over money units where money is nothing but paper. Okay? We all laugh at the Weimar Republic, you know, when people wheel their money around in wheelbarrows, okay. But in effect, you know, we’re all junior Weimar Republics right now. Look at an M2 chart and you’ll see, you know, the loveliest parabolic bull trend chart you’ve ever seen, okay? It means that which is in your wallet is decaying day by day, month by month.

And now they have an excuse to decay it even more rapidly in order to put the fire out, which won’t succeed. So that’s where we are. And there’s some other waves that will be created that people aren’t watching so much. And I don’t know why we’ve been watching instead of AI so much, which everybody’s totally focused on. We know that’s all that matters. About five stocks, the S&P and about five stocks in the Nasdaq 100 explain what’s going on. The remaining 95 in Nasdaq and 495 in the S and P don’t explain what’s going on to those indexes.

It’s, it’s a weird world and it’s about to come to a head. But there are certain things within the stock market and I got one chart that would be good to show. Yeah, we’ll show that at the end. It’s the financial sector. We’ve been focused on the financial sector, unlike most people for the last handful of months because we’ve noticed a, a relative performance deterioration in most financial related stocks. Banking stocks, xlf, which is the broad vista of the financial sector, includes banks, broker dealers, all credit card companies, etc, it’s a broad. And insurance companies. It is not puking on the downside, but it continues to ooze and ooze like it’s in A different world.

It doesn’t even look like an S P chart. And there’s a problem with that because when we do our momentum structural work, not just looking at a simple price chart, we see something that’s very malevolent and once broken, you could have an event that suddenly takes all of their headlines and shoves them off the page. And the public says, oh my gosh, I didn’t know that. Well, you should have known it. It’s bleeding obvious we have a debt crisis, therefore there’s going to be some connectivity to the financial universe. Okay, so quit looking at AI that’ll follow its own pace and ultimately will lead the way down, but not necessarily at the beginning.

It might be something else that creates the top in the broad market. And then AI joins in. Anyway, that chart is very informative. Yes. Do you want, do you want me to show that now? Yeah, show it. Okay, let me, let me pull that up here. And I believe. And we also, we don’t show it here, but we’ve done this. There we go. The top chart is a monthly price chart of XLF financial sector ETF goes back to 2020, so six years here and you can see up wave, down wave, up wave and so forth. And then over the last year or so it’s been sort of congested up there in the mid-50s generally, but with lows, low closes under 50 a couple times.

And now we’ve punched out a month or so ago to a new high up there in the high 50s. But you can see that the pace of the upside that we saw between 2020 and 2022 was pretty solid. The pace of the upside in 23 to 25, it’s pretty solid. And all of a sudden it got sluggish. Something happened here. Somebody’s selling. So it’s, it’s a advance. Now the chart below is what we call a momentum chart. And we use it. What we’re doing there is we take each of those price bars you see on the top chart, monthly charge, and we oscillate them in their relationship to that 36 month average that’s red on the price chart.

Okay. Crossing the average itself doesn’t necessarily mean anything. A lot of people think, oh, it crossed to 200 day or this. It’s nonsense. Sometimes it’s important, sometimes not. It’s the structure you build on momentum that matters. So when we plot those monthly bars on XLF in their relationship to above or below that 36 month average and on the bottom chart, that zero line you see there on the left it says zero. That’s where the average is. You’ve gone above it, you’ve gone below it, but you’ve created, look, a lovely three point uptrend line. As of early this year in March you sold off and sat on that line again and then you rallied.

Now look at the price chart. You just made a new high a month or two ago, right? Okay, look at the momentum chart. You didn’t make a new high. It was a little hump, okay? And bouncing off of that three point black line, the uptrend structure that goes back six years. It’s a six year momentum trend. There’s also a red line. We’ve plotted at 10% over the zero line. And you’ll see that all the lows that have occurred on momentum have halted at that 10% over level which happens now to correspond to the black uptrend line.

So you have two structures linked at the same point now. Well, you’re, you’re challenging them this month. Now we, I suspect you’re not going to hold. Now that doesn’t mean you can’t try to bounce one more time off these lines. But when you break these structures, the red line and the black line, watch out. That is a major top and you’re going down. And it’s likely that the first phase of that will be somewhat dramatic. And I don’t mean a crash necessarily, but something that turns heads, okay, like a 10, 20, 30% drop pretty quickly. Not in a few days or weeks.

But you get my point. Enough to jar people loose, right? This is what we call vulnerable structure. Now you look at the price chart and go back five years and try to draw a trend line. Six years, it comes through way down, about 40 or something, you know, if you tried to draw one. So it’s meaningless, you know, not even near it. But on momentum, you’re there, you’re on Bridge over the River Kwai and somebody’s about to light the dynamite. Okay, good analysis. But we’re watching because when this event occurs, and I think it will, and we also study the major banks, by the way, constantly update about a half a dozen of the major big name banks, not regionals big banks.

And they have structures highly similar to this. And they are, some of them have already are intramonth below key levels. Most of them are hanging around about where this chart is, namely on the structure. So if these guys break, that’s going to turn heads and surprise people what the banks, you know, suddenly all else will become nothing. And Gold knows this is Going to on and silver. Yeah, and silver which we’ll be talking about in a moment. Golden silver and. Yeah, yeah that’s, yeah. Okay, thank you Michael. Great, great point. I’m going to come back to you here.

Before we go to the next question, I did want to ask you this. Another interesting development happened today as you are aware, but I think it’s important to talk about the elephant in the room. One of our team members who helps us prepare for our podcast with you, particularly these coercion questions, hopefully you and the audience are enjoying had pointed out to on our channeled for years to be watching the Dow and particularly the S and P. Today the S and P is at all time highs of 7840. His prognosis is to be watching between 8000, 8500 before a crash.

What are your thoughts on that and why are people so more open minded to a stock market crash but they’re ignoring the housing market crash? That part I don’t understand. What are your thoughts on that? Well, you know, because the indexes we’re dealing with are so distorted by front end weighted symbols that constitute really the top five stocks in NASDAQ or five in the S P, you know, explain the majority of the entire index movement. So if you’re in the back end of those indexes you can be collapsing. You know that the index doesn’t reflect it and we know that a lot of people are aware that oh this is a very narrow advance but oh it’s a party, I’m going to join it.

And they ignore the fact, the bleeding obvious fact, fact that this is not true to the broad market in any way. Like that XLF chart, it ain’t making new highs. It’s, it’s about to jump off the ledge. Okay. So it’s, that’s, that’s one of the main problems. Go ahead with the question again was well I mean I lived through 2008 like you did. Oh yeah, I got hammered with that. I mean do people forget their history? It’s going to be much worse. It doesn’t have to crash. Okay. And even 2008, let’s go back to that because I know a lot of people have distorted views of reality by what happened in one month in that year and a half collapse.

Okay, the first year down in the stock market was very significant but there was no crash. You’re just down, down, down, down. No crash. Crash being definable is something like 30 or more percent in a matter of a couple weeks. Okay, 87 crash 29 crash. They all meet those attributes that didn’t. The S and P was a full year off its high, a major decline. Gold at that point didn’t even care, was in an uptrend. And finally in October, one full year off the October 2007 high when fed cut rates. By the way, that should help the stock market.

Right? Okay. You had a crash event in October 2008, meaning in a matter of about two weeks in that month, there was a 30% drop in the S P. Okay, so finally, a year after the high, it did a puke. Okay. That wasn’t the end of the decline because the Fed did QE at that point. Month after that crash in October, they instituted quantitative easing. Did that help the market? No, it continued down. November, December, January, February, March of the next year. Gold meanwhile, exploding. Okay, but most people are still fixated on that’s how a stock market must go down.

No, it doesn’t. The 2000-2002 major decline in the markets, S P went down 50%. Nasdaq 100, the.com index went down 82%. Almost a full wipeout, you know, might as well go to zero. Okay. It no crash. There was no definable point where you could say, oh, 35% matter a couple weeks. No, it didn’t happen. So a lot of people are afraid of that. Maybe you don’t get that. Maybe you get it here and there, but not in the broad market necessarily. The issue is will it top? And we’ve been hoping. In fact, in our latest week report, we did a analysis of a price chart pattern that we rarely focus on price.

But this one we did because we invented a pattern decades ago called the power thrust with three humps. Okay. What it is, is when the market soars, it has a pullback that’s first. First pullback, then has another shot up. But it’s not a power thrust. It’s just made a new high, number two, then it pulls back again, doesn’t collapse and goes up, makes that third high. If that third high doesn’t launch in a big way, instead is just another little hump, watch out, that’s a topping pattern. And momentum right now suggests that the S P has the structure to go down on.

It’s not near it at the moment. Structure meaning momentum structure that if you break it, you’re going down. Okay. And it won’t be evident on the price chart. You don’t see the same structure. So if you look at a price, you say, well, I don’t see anything particularly Wrong there. But you look at momentum and say, oh gosh, but we’re now with today’s action. We’ve pumped up to that new high and it wouldn’t be surprised. We stay up here for another week or two and maybe get some good news. I have a suspicion that oil’s about to give us some good news for some reasons in Iran that aren’t necessarily a treaty deal, but something else.

I won’t talk about it because people laugh at you if you make a prediction. But my oil market right now got to 86 and change today, West Texas, you see 85, you could get a drop that could be pretty significant. I don’t mean that down to 20 bucks or anything, but I mean a ten or fifteen dollar drop that will be associated with some likely surprising development in the Iran thing, obviously positive thing. And of course, what will stock people do with that if that happens? Oh boy, it’s party on time. Right. Okay. And a lot of assumptions about the Fed raising rates.

If oil breaks down through that 85 level, which is technically important, on some weekly momentum we run, not on the price chart then and breaks hard and there’s a new story associated with it that’s interpreted as positive. But also you get a drop in oil price, then that takes some of the pressure off the Fed to what, raise rates. Ah, then all kinds of assumptions about, well, that’s bad for gold if they raise rates, which is not valid anyway. But all of a sudden that argument gets sidelined because, oh, maybe they’re not going to raise rates because commodities are going down, oil especially.

And so they have an excuse not to. And therefore all kinds of things get flipped over. Truths that people think are true and that could affect a lot of markets, such as the people who sell gold thinking that the Fed raises rates, that’s bad for gold, they lose their argument. You know, you get the point. Anyway, I crash event I don’t think is it could always happen, but I don’t see it right now. Well, I mean, you’re right, it doesn’t have to happen. But just, you know, you look at historical patterns, we also have the Fibonacci effect that’s still in play.

And I, I just, I, I see, I, my own personal thing is I see a stock in a housing market going, crash going or major correction, whatever you want to call it. Yes, yes. Yeah, you know, I think it’s, yeah, that’s part of the financial problem too, you know. Yeah, it’s all correlated. Also, there’s another area in the real estate Area that we watch very closely. Not the housing, but it’s commercial real estate. Commercial real estate is much like that XLF chart, that financial sector chart the momentum situation there is horrendous and there are some symbols within that sector, the commercial real estate that have the technicals that could crash, meaning that one symbol could.

I’m not going to name it, but there’s some big heavily weighted symbols within vnq, which is a commercial real estate ETF or rwr, two biggest commercial real estates that if they get triggered it will cause headlines in an area and people haven’t even been thinking about and it’s all what debt related. So anyway, that’s, it’s going to be an interesting next quarter or two to say the least. And I have some questions about that too in the first quarter. Some, some things you said on a previous podcast about that. We’ll get to that in a minute.

A lot of this feels a lot, Michael, like musical chairs and the music’s about to stop. Like some of the financial movies have said, it’s not slowing, it’s just completely coming to a grind. And if you’re not holding a seat, you’re. You’re in, as you say, dire Straits. Let’s take a look at the, excuse me, absolute breakdown of the traditional playbook here. For the last four and a half years, mainstream analysts have told us that the positive real yields on the 10 year treasury should crash precious metals, as you said. Yet during that exact time frame, the US dollar spot price of gold has more than doubled.

This just shows you how massively successful and resilient precious metals have always been. More and more market onlookers are now warning that we are headed towards a permanent policy of yield curve control, not just for a few years, but for decades to come. In fact, President Trump has essentially spelled out that the end game in a most recent interview with Time magazine. He basically admitted that the primary method Western authorities are looking to use to inflate away their record debt and liability quagmire is to deliberately run price inflation at rates much higher than bond yields for a very long period of time.

The question is, as you know, can you tell us what happens in your opinion, to the market when financial repression becomes the official long term state policy if gold has already doubled while yields are supposedly positive in real terms? And what kind of explosive move do you see for gold and silver when the investing public finally realizes that real yields are being engineered to stay deeply negative for decades? Yeah, well, it’s. We don’t examine the yield curve that much, and I know a lot of people focus on that, but that’s not a real issue for us.

It’s these, the, the validity and the public acceptance and government acceptance of government debt. Like a lot of governments are abandoning the art, purchasing bonds, they’re selling dollars, selling bonds. And in fact, Bessant a couple months ago went in and bought the yen, intervened in the forex market. Why? To support so the Japanese could not dump their bonds, you know, at the same time. And so there’s a lot of interventions here and there and they ultimately don’t work because these markets are way bigger. Governments, they’ve created monsters and they can’t paper them over because people don’t understand the papering over.

All they understand is my prices are going up. And there’s a point at which, and it’s always after a stock market peak, by the way, that all these data points that people like to say, oh, the economy’s looking good, oh, unemployment’s okay, those data points don’t go south in a big way where you could say, oh, they’re real negative. When the stock market’s at its highs, you go back and look at the top in 2000, 2007, and then look at the data points like unemployment, yeah, they went dark, but they went dark after the market went down.

So they’re not leading indicators, they’re lagging indicators. And so why the Fed focuses on that as some kind of leading economic data point, I have no idea. Most of these numbers are distorted anyway. I don’t trust the source. And if you look at inside, for example, the job market reports over the last year and go sector by sector and see where the job growth is, it isn’t in the industrial sector or things like that, or transportation. It’s in hospitality. We need waiters and bartenders and hospital care, especially in home hospital care. We need to take care of our old people.

Okay, fine, but it’s not, it’s not primarily in the sectors that are, you know, we consider as oak or. And it’s also an increase in state government payrolls. You know, so it’s. Do what you want with those data points. I suggest you ignore them. The real thing is going to happen in the streets where people are hurting. They don’t know why, they don’t understand the intricacies of what we’re talking about. All they know is it’s not stopping. And I’m going to suggest this if for some reason, and I won’t talk about why, because everybody will laugh at Me.

But if the oil does break down and there’s some very positive development out of the Iran situation and oil goes down and yet oil then a couple weeks later makes a low and starts back up again without the Iran event being the excuse because we’re major bullish on oil and goal will go to a couple hundred. But not because of the Iran thing, it’s because of oil pricing, commodity, asset receiving, flow of assets from other breaking categories. And oil is one of them. And it will go up too because it’s dirt cheap, it’s not expensive. You look at oil history, 140, 130 a barrel.

Right now we’re 80 something and everybody’s screaming at its all time highs. No, okay, anyway, these events will occur and they will change people’s lives and they will wonder, well, if the war ended and oil went down and now it’s going back up, who’s in charge here? And then you have a sense of panic because they don’t understand it and it doesn’t quit and it hurts. And then finally your wife gets laid off or you get laid off and you’re late on your mortgage and your credit card’s way past due, all these things will suddenly cascade.

And I think we’re building toward that. And we’ve, we’ve talked about the reasons why, you know. Well, I mean, great point Michael, because you look at the, you look at things like Disney telling the public that in first, second quarter next year they’re gonna have massive layoffs. So there, there’s kind of like little shock indicators if you will. So on before my next question, the question want to ask you on the side about you were doing a podcast with a, another good podcast channel and I remember, I saw the article where you were alluding to, if I remember correctly, you thought by January of next year, which is only a couple months away, you were seeing silver at about 180.

What is that based on? And where do you see silver for the remainder of this year? We have ceased our predictions because too many people laugh at them. That doesn’t matter. Back in 25, silver was in the 30s and 40s and rising up toward the old 50 level. Late in that year we argued that silver could be C80 to 100 by the end of the year. Well, it did. It’s 120 in January. Okay, but then at other times we’ve said also silver could easily see 3 to 500. And those are not targets that are. We put a clock on.

I think they’ll be achieved rapidly once you get this next leg going very rapidly and I hesitate to say, you know, but anything but it’s not going to take a couple years. It’s probably going to take several quarters. Silver is a pent up monster. Gold is not bent. If you look at or even copper or lead or zinc or steel or aluminum, go back to 1980 and look at where these metals were in 1980. They were all making highs and gold made a high. Then, you know, in 80 it went, had an Eightfold bull market, went from 100 to 850.

During that time, silver went from under 10 to 50. Okay, 1980 went to night again. In 2011 it went to 50. Well, heck, gold by 2011 was 1920 way above its eight hundred and fifty high of 1980. How come silver wasn’t above 50? And if you look at a copper chart back to 1980, you know where it was on average about a buck. Where is it now? 650. And it hasn’t done it in one big swoop, but it’s done it in layers, you know, this decade, a little higher, a little higher. Reflective of the ongoing decay and the money in it.

The same is true with a lot of other metals that have, you know, hardly are exciting. And yet you look at their charts and they’re four times where they were in 1980. And silver’s what, 10, 11 bucks above where it was in 1980, like 20%. What’s going on here? How come the one metal that’s linked to gold that is historically for 3,000 years been money just like gold, how come it was restrained in a 50 year range when no other metal was? Why? What’s going on here? Well, we know there’s been manipulation, okay? And ultimately that doesn’t work because reality wins.

And if you, if you try to confine reality, you compress it so that when it finally does come unloosed, freeze itself, it says I’m out of here and it has a tantrum. Well, the thing that happened in December, January last year, January this year, the surge, 120 was merely a first statement that I’m out of the hole, I’m going to join you guys, okay? That wasn’t the end of something. That was a statement that I’m finally born, okay, but I’m still cheap, okay? If it matched to the decay in the money unit, if it matched the ongoing rise in gold, if it matched where copper is, you could do the math.

You come up with 5, 500 bucks or so, that’s just matching. But the thing I’ve learned over the years is that often a market when it’s made an error and kept in that error in place for a long time like been priced too high for too long like a bubble top in the stock market or in the case of silver, way too low for way too long. I mean, jeez, we have a, a five to six year supply demand deficit and, and these other metals don’t and that they’re four or five times higher. And silver. Okay, you get the point.

Yeah. When they get compressed like that, either too high too long or too low too long, often the compensation for that is savage. It’s, it’s not incremental, it’s, it’s a sudden lightning bolt type event that upsets and surprises people for some reason. So why would it be outlandish to merely say gee, I think silver’s going to do what copper’s already done over the last five decades. Oh gee, I think it’ll do what lead did, I think I’ll do what gold did. You do the math. And these numbers are there. And we’re arguing technically that when we examine the long term momentum factors of silver and gold like their annual momentum, this pullback is just a pullback.

It doesn’t break anything. It did not break any trend structure showing momentum. It jolted people in the market who got in late, you know, bought at 100 silver to 120, our buy signal. Our last buy signal was we had three of them in the last couple years. One was at 26 bucks in 2024, one was at 35 in summer of 25 and one was at 56. Our last buy signal. Major long term based buy signal in November last year. Yeah, you gave back a lot of profits but you’re still as an investor you’re doing pretty well.

Go back three years, two years, one year, you know, you’re doing fairly well. You’re beating the stock market despite the pullback. Even so that’s the reality we’re dealing with. And I strongly expect to see silver catch up to a reality that is deserved measured so many ways versus M2 growth versus comparison to gold. All kinds of ways to measure and just simple analysis of its long term momentum says hey yeah, I could go there, I go there quickly, you know, so. But I’m not going to stick a number on it. I’m just going to say that when we come out of this congestion and that’s what I regard this as being a violet drop then 7 months wide congestion, if you look at the charts, it’s really mostly Sideways gold insult over that.

What comes on the other side will be very dramatic because of some of these other events we’ve been talking about that weren’t in play late last year. Like, oh, trouble in the financial sector. Oh, we have a government bond crisis. Oh, you get the point, right? We’re in an O world, okay. And a lot of markets will behave in a violent way. Well, I mean, you’re, you’re in a safe place, Michael, because we’re, we’re in total agreement with you here. I mean, the whole thing is disparately upside down and disproportion to your point. Silver and gold are going to be, as Bill Holter says, the last man standing.

And if people think that 120 was the pinnacle for silver, I say it’s just getting started. That’s just a warm up, as you said, you know, picture coming out of the bullpen. Let’s take a look. Since we’re talking about silver, if you don’t mind, Michael, let’s go to your chart analysis with respect to over here. I believe it’s page eight, if I’m not mistaken. Those are some of the big banks there. Go ahead, keep rolling. Did you want to. Do you want. No, that’s okay. They. I’m just arguing. They look like that. Here’s gold. Yeah, there’s gold.

So we’ll start with gold and then, and then back on silver. So I’ll let you talk about that. That’s the gold peak you see on the left side up there. Just short of 5,600 in January. Okay. Then you collapsed within a month. Now the 40. Let me get my glasses on. What’s that 40? Almost 4400. Okay, so your first low was 4, 400. Okay, look at that. Then you had a rally back up to 54. Then you came down, made another low at 4100. Then you rallied big again. Whereas every time you took out a low on this chart, you rallied instead of keep going down.

It’s kind of funny, normally when you take out a popular low and run the stops, you go down this time. Every time gold took out a low, it turned up. Then you did it again in the summer, in June, July, under 4000, 3950 area. And then what’d you do after that? After taking out that 4,100 low that occurred back in March, the war sellers, you exploded up to 4, 700. And we’re focused on the price chart for the moment. Okay. Now if we examine, we plot what we call a parallel channel which is one of very few pop price chart tools that we respect.

Most people don’t use it. We do. You take the low closes since the beginning of the year and I’ve circled them. There’s four low weekly closes and they all line up at an angle of decline, very gradual angle of decline. And if you take a parallel ruler and run it through the top tick back in January, then the rally high in early March and then the rally high a month ago, they line up at the same angle of descent, meaning what you have here is a parallel channel. Look at the declines in the first part. The first two declines, they hit the bottom of the channel.

They lived in the bottom half of this broad channel, this decline. And right now we’re back above 4200 as we speak. This is as of last week, by the way. This bar on the right, the extreme right bar, that’s last week’s close, you were still in the upper channel, meaning, yeah, I’m going down for the last five weeks. But in the prior drops that were four or five weeks, I collapsed. This time I’m just oozing, I’m not collapsing. And I’m in the upper half of the parallel channel. And I’ve now got a three point channel top, which is optimal.

You’ve got a perfect structure here. This chart says that top line, you ever cross it, they’re gonna blow your head off. Okay, this entire process will be over. Right now that requires something like above 45.50, but it declines a bit each week. So keep that in mind. You don’t have to take out that last high, which is 4, 700, but you get up to about 4550 and you can blow this nine, 10 month channel out. Okay, that’s price. Now we look at weekly momentum where we measure each week. Where is it in relation to a three week average? And you’ll see for the prior five weeks, including this week, which isn’t shown here.

So for six weeks we’ve been confined below that black horizontal line, which is a zero line, meaning price has been confined below the three week average. Simple little average nobody uses. We do you ever get a week that gets out above that black little line and it says, oh, the recent multi week decline is over, we’re going back up again. And that’ll occur this week at about 42, 70, 80 level. Next week that’ll drop a bit. So about 70, 80 bucks above where you’re trading right now, you’re gonna break that oscillator out which says you’ve likely seen the low of this particular decline which was tepid compared to the other declines that hit that channel bottom.

When they went down, they went down. This one’s had a lot of time to go down and hasn’t collapsed. It’s oozed. Somebody’s buying this decline. And if you look to your left on the price chart, you got a fourth just above 4,000, 4,400 low. Then you get a low 4,100. Then you got a low 30. So there’s a range there where these low trades occurred. And this low is not below them. It’s right in between all those prior lows. Meaning it tells me somebody, somebody’s have been buying gold in the low 4000s repeatedly. They don’t care about the decline.

They’re buying it. They must be thinking long term. Right. Okay. Most people are scared to death and yet somebody’s been buying this market, give or take either side of 4,000 for nine months now. Okay, Silver’s on the next page. Now let’s take a look at that. Similar charts in that we’ve got a weekly price of silver but this time we’re measuring it versus a bit bigger average, a 10 week moving average. It’s like a 50 day average about in, in duration in timescale. And that’s weekly price action Silver. And it also has a channel. This we plotted the channel bottom through low weekly closes.

Again three low weekly closes since the first collapse. And then across the high weekly close back in January which intersects with the next two rally highs that you see there. That channel top now comes through at about 70 week or so. It’ll be below 70. Now. The recent rally high was 71. This channel tells you you don’t even have to take out that lot. That Last high at 71 to turn this picture up. Price picture. All you got to do is take out that channel top and close a week out around 70 or so. Now look at the momentum chart below.

We measure each week how, how much above or below the 10 week average is it. We have created an oscillator. You’ll see the waves of decline since the January peak. That wave that ended in June, July where silver was 55 low in price. Look at the momentum chart. It was not making a new low. Price was making a lower low than had in March, but momentum was making a higher low. So we had a divergence, what we call a positive divergence, meaning momentum says I’m not going with you Price, you’re wrong. And sure enough, what happened after that you got a rally.

There’s a green line on the momentum chart. That is a triple top, meaning if you ever take it out, it’s a quadruple top breakout. This gives you a different number than the price channel takes the mid-70s, like 75 area. You see that number in the next handful of weeks. In other words, you get a rally going that challenges that price channel. It takes out the 70 level on the price channel, and you get up to 75, then this momentum chart is going to blow a cork. It’s going to register a quadruple top breakout with a lot of room to run on the upside.

So I’m arguing that 70 on price getting above there is important. And on this momentum chart, you get in the mid-70s. Game over. The downside game is over. We’re back into the full bull thrust. And I suspect that what’s going to come on the other side of this is almost verticality. And I’m a fan of a couple quarters. Absolutely. I did want to ask you a question, Michael. This is a very important thing that I’d like to establish. And maybe some of the audience may as well it it and you’re the perfect person to ask. It’s seemingly the banks like to keep silver at or below 75 so they can paper it down for control.

Why is it so important that it gets above that 75 mark? What is it? The momentum will have. Have a structure that breaks out that if you looked at that bottom chart and that were a price chart, let’s say, okay, you’d be. You’d be quite excited if you went through that green line, wouldn’t you? You say, oh, boy, I gotta buy that. Well, momentum is going to do that. You don’t have the similar pattern on price. You don’t have this triple top pending break, quadruple top breakout pending. But on momentum, you have a price pattern. You have a pattern that should excite anybody.

But most people don’t see this because they don’t. They don’t know how to plot momentum. This is a very exciting situation when momentum, by the way, when momentum builds structures like this that you can’t see the same structure on price chart. Usually you do it for a purpose. It’s not just to build a structure and then wave goodbye to it. It’s to build a structure for future use as a launch pad or a topping pattern, in this case, a bottom. So I think what we’re looking at now is you get silver up just above that last high, 71 or even 70 looks good.

But 75 in particular can blow your head off. Yeah. And everybody who’s been taught to believe or disbelieve in silver again and think that was the top, that 120th surge is going to miss it. And that’s the way markets behave. You know, if you’re, if you don’t buy the weakness like somebody apparently is because look at the silver lows. Made a low in January at 64, made a low in March, 61, made a low at 55. Right now we’re trading at 71. I mean so you got a whole bunch of lows in the 60s either side.

Somebody’s been buying silver repeatedly in the zone around 60 bucks. This is four times now. So nobody sees it that way. All they see is the down. They don’t see the accumulation which is going on, which, which interestingly enough, Michael, if I may, is that, that last low that you said, I think of 56. So somebody has recognized your pattern and taken advantage of it. I hope it’s could be more retail people, but so is your contention ultimately, Michael, we get out of this slide here that once it gets to 75 and beyond it’s. Is it fair to say it’s not going to stop from there? I think what’s going to happen on the other side of that will be the collapse of the disbelief.

There was all the people who’ve been poo poo and silver because they focused on intermediate transaction instead of long term trend. Correct. And don’t see silver as we discussed earlier as where is silver in relation to reality compared to copper, lead, gold, you know, you name it. Why is silver down here? It’s got a supply demand deficit six years now, you know, not as much produce as we need. What’s going on here? And as far as the control by banks, all I can say is it didn’t work because they, they tried to do it at 50.

Okay. So they got, they got sort of reamed very quickly there and first surged 120. I suspect that if that’s still going on and I’m not, I have no opinion on that or not. It doesn’t matter. All they do is help compress things so that when you do break free, it’s far more violent in its revenge to seek a new price reality because it’s been contained for so long. So you know, I somewhat applaud them. Thank you. All you’ve done is help speed up the process. Right. You better not be in the way or you’re going under.

Exactly. It’s like A freight train coming. Yeah, momentum. I mean, how my, my confusion for the public is, is silver is in virtually everything we own, everything we do, everything we consume. The military, AI, Robotics. Yeah, the AI needs it. Yeah, yeah, you want to focus on AI, as you said, but you’re neglecting the fact that it’s heavily backed by silver solar panels. Solar panels, yeah. The, The Chinese produce 80, 90% of the world’s solar power and it grows constantly. The demand for that and silver is an ingredient in that and, you know, it’s all kinds of things.

It’s not just that it’s. Oh yeah, everywhere, like you said, mirrors. A lot of the everywhere places it is, are not recyclable because it’s so micro that it is worth the trouble to try to recycle it. So a lot of that silver is gone. You know, blow up a Tomahawk missile as a perfect example. You get in the back. So, I mean, yeah, it’s. Yeah, it’s crazy. I don’t. Yeah, it’s going to be. The disbelief will be finally the mask will come off, as you said. One other question, Michael, just to respect your time and the audience’s time, with just about a month, just actually a month as of today of the podcast, with crucial midterm elections incoming political economic rhetoric heating up, we recently saw headlines capturing warnings that a shift in congressional control to Democrats could plunge the country in a severe 1929 style depression.

While political campaigns often use high stakes economics predictions to rally voters, it also furthers to underscore the intense anxiety surrounding fiscal policy. How do you evaluate the stark political warnings and potential shifts in congressional power against the broader structural trends of the macro economy? When political divisions reach a point where 1929 style collapse is part of the public conversation, does the specific outcome of an election after the trajectory for precious metals, or are the systemic forces driving gold and silver already set in stone? Regardless of who holds a majority, that’s the last thing they’re already set in motion.

The politics, yes, it helped create the problem because both parties, not just one, helped create this ongoing debt crisis. Okay, We’ve just now reached massive bubble proportions and is breaking. Oh my God. You know, they think it wouldn’t break. It could go forever. Okay, finally it breaks and you have real world consequences that people are hurt. And finally that hurt effect will start to show up in employment and so forth and so on. Politics itself will be part of the change because so many things will change because I think we’re facing. You go back to 2008 even people who weren’t in the stock market got hurt very badly.

They got laid off, they went bankrupt, you know, and so forth. It, this is far bigger and its wave effects will be almost everywhere you look. And so it won’t just be markets adjusting, collapsing, exploding because of this new dynamic that’s actually not new, it’s just finally unfolding. But other aspects of reality will change too. People’s lives, the debt, market implosion, failure to pay the debts, and politics. And right now, what we’ve got fits with this scenario of maybe we’re going to have a tabular raza time, but we’re going to wipe the deck clean of so many notions institutions that didn’t work or weren’t what we thought they’d be in all of our sense of what reality was out the window.

It didn’t work. Well, politics is one of those. And if you look at the two parties, they’re both severely broken in half. You’ve got the old Reaganites, Goldwater rights and the Republican Party, most of whom have retired from Congress, who don’t like Trump, including a lot of the talking heads on podcasts who loved him a couple years ago now want him gone. You’ve totally destroyed that party as a homogenous party. And the Democrat Party is equally split, where a lot of the Democrats don’t like what they lefties are doing to the party and lefties don’t like that you have a party that’s split and the outcome of this election, no matter which way it goes, is going to further that because let’s say for some reason something happens between now and then, such as in Iran, that suddenly changes things and makes it look, oh, okay, it went away.

And then the Republicans don’t do so bad, and the, the lefties running for the Senate and House don’t take over the House in the Senate like it looks like they might do now. Then the other Democrats will think, what of that, that left wing of the party, we need to get rid of them. We need the old Democrat party. In other words, you have total fragmentation going on. No matter which way things turn out, one party is going to be hurt more than the other, fragmented permanently. So it would not shock me, and I think this is true right now, that neither party is a majority party anymore, which each party, instead of being able to garner really 55% of the vote, can now only get 45.

45 because even the party members are abandoning the party. So it wouldn’t shock me to see the ascendancy of extreme Third parties or what people would call extreme. Wouldn’t surprise me to see some Libertarian Party emerge. And I don’t mean the LP that exists now, but you know, Rand Paul and so forth. Do something in the Republican Party to shift it or create a new party. And in the Democrat Party, if the socialists don’t win this thing like they expected to do, then that party is going to be totally ripped apart in terms of sense of direction.

So I wouldn’t be surprised that it fragments. So again, you have another horizon that we’re dealing with here that’s not directly connected to markets, but it will be because we’re dealing with a monster this time. We’re dealing with the government debt crisis, political crisis. We don’t have majority parties anymore. Wow, the world could change is what I’m saying. Yeah. And I’m not cheering or anything. I’m just saying, hey, these things happen. You got a major problem here. It’s going to have wave effects. Well, maybe that’s the maybe. Thank you, Michael. Maybe that’s the overall point is the public has to decide who are we going to become as a country? Are we going to be this Coke Pepsi mentality? Are we going to start free thinking, bringing the Constitution back and start getting off our button or something else? I mean, you know, let’s say the socialists win and not only win the off year, but for some reason the economy goes south in the next two years.

Trump gets full blame for that because every president gets blamed for the current economics, which is ridiculous. It’s an ongoing process. But that they win in the next election. A left wing Democrat party, they win the national election. Think about this. You think Texas is going to remain part of the country? Okay. We know there’s already discussion there in some other states as well. The whole U. S could change. Not interrupt, not just interrupt, but Tennessee and Texas as you know, have been gold and silver back since 1801. Joined at the hip. And Texas is now trying to become the new Wall Street.

They’re separating from the, hey, heck with New York. We’re going to build a new financial center. So there’s a lot of things that are going on out there that I’m not going to cheer or boo or, or anything. Right. I’m just noting these things are going to happen and they’re going to be kind of events that nobody thought was on the horizon. Yeah. Just get used to it, prepare for it, be on the right side, be prepared. Expect the unexpected. Yeah. Own money. Yes. Not just paper stuff. Own money. The real thing. Amen, brother. Well, this whole thing reminds me of that movie War Games back in the day when I was a kid.

Matthew Broderick, you know, where they tried to. To reprogram the computer and it just, it just was going to do its own thing. No matter what they tried to do, it was going full steam ahead. A foresightful movie. Yeah, yeah. Almost predictive programming by Hollywood. I want to show you one last video before. Before we wrap things up. I was alluding to you in our prep discussion. This is a video that I’m going to show you. It’s an older video to be precise, but it just shows you that future proves past. This is a gentleman named Mark Dice who is a conservative patriot American.

He’s kind of a street team person. He goes a man about the people and he queries the public on different subject matters. And he years ago several times queried the public on a social experiment of do you want a 10 ounce bar of silver or a 10 ounce bar of Hershey’s chocolate? And this is a sad commentary disparity on the public of the choices unfortunately that they made in doing so. Let me know when you can. You can see this. Okay. And I’m just gonna play this video and let it speak for itself. Go for it.

Free Hershey bar or a free bar of silver. 20, would you like. You want the Hershey? Go ahead, it’s yours. You don’t want it? Which one would you like? Just take one, please. Whatever you want. Okay, I’ll take this one. You take the Hershey bar? Yeah. Oh, you’d rather the chocolate? Okay, well, take it. It’s free. Whichever one you want. Thank you. Okay. I’d rather have a Hershey bar. You’d rather have a Hershey bar? Okay. All right. Well, it is a thing, but you’ll figure it out someday. Thank you. I’m sorry, I’m busy. Oh, okay. Free Hershey bar or free silver bar? Hershey’s.

Oh, okay. Well, it’s yours then. Thank you. Thank you. Have a good day as well. Take one of these, please. Oh, no, thank you. Just take whichever one you want. I don’t even put that one in. You don’t know what this is? No. A brick of hell. It’s a brick of silver. Well, you just take one of them, whichever one you want. It’s a chocolate appreciation day. You want the chocolate bar? What are you gonna do with them? Whether you’re gonna do this heavy bar of silver, it’s just too burdensome to carry, I guess. Right? Use it As a doorstop.

A doorstop? Yeah, I guess. Or paperweight. Yeah, something like that. Got too many doorstops laying around. Which one would you like? I would take the chocolate bars. Well, go ahead. Yours. Okay. Oh, just one. Just one. Just one. Whoops. Yeah. Okay. Thank you very much. Pawn shop. Oh, it’s Pawn shop. Yeah. If I were to offer you one of these for free, which one would you take? That looks like a chunk of gold, so I’d have to take that. But it’s probably just nothing metal. I can see it’s no good. You just got to take the Hershey’s.

Well, you want the Hershey bar? I’ll take the Hershey bar. Okay. It’s yours. Thank you. Take it. That’s close one. Why, dude? Well, it’s a 100 ounces bar of silver. Cut it out. Yeah. So. No. Really? Yeah. Oh, you’re kidding me. Dude. Is it really? Yeah. Too bad losing, dude. Keep chalk. You get to keep the chalk apart. It’s okay. For real? Yeah. Dude. Is it really? It is. Oh, my. Thanks, man. Wow. I mean, wow. You just shake your head. I’ve seen it a million times. People are going to live to regret that. And it just proves that wisdom is not equated by age.

Clearly. It’s. That’s amazing piece of film. That’s really amazing. It’s a sad commentary. I could see people fighting on the street over that silver bar the next year or two. Oh, I mean, it’s. It’s unbelievable. I mean you. You can’t make this stuff up. And that was 10 years ago. Imagine, like you said, what’s going to happen between now and next year. Yeah, remarkable. Well, thank. Thank you, Michael for being here. As always, we really appreciate your cogent deep analysis. Please let the know where they can find your work. It’s Oliver, MSA.com MSA for Momentum Structural analysis.

And please do sign up folks for his newsletter. He does, as you can see, great chart analysis. It’s not just, you know, guessing. It’s very, very detailed quantitative analysis that he puts forth with his team. We certainly enjoy it and share it with some of our audience members as well. And folks, as you know, the primary sponsor for our channel is Noble Gold, who shout out to Micah and Colin, the owners there who have sponsored our channel for a number of years, this podcast can be possible. So if you’re looking to get said precious metals, whether it’s physical or you want to do some partial full conversion, 401k, IRA, pension annuity, etc, or a combination of the through 2, 3 or 4.

They’re the experts in that Money Metals magazine, excuse me, has ranked them as one of the top two companies with which to work. And you can Simply go to noblegoldinvestments.com forward slash. JDMetals is my promo code. No pressure or anything like that to give you a lot of consulting, ask you a lot of questions. You really try to understand you. I purchased from them, had some family, purchase from them, had great experiences. I’ve queried some of our subscribers that have worked with them and have had good experiences and they do exactly what they say. You can also go to mike@noble ira.com if you want to query him privately and not have to make a phone call, for example.

You just want to have a in depth conversation. Right now they’re giving a promotion of a 110 ounce of gold. So the gold eagle coveted eagle for the month of October as a free gift for all qualified accounts. So we’ll leave that link in the description. Michael Oliver, thank you for joining us sir. We really appreciate your time and attention. Pray you have a great rest of your day and we will look forward to hopefully having you on again shortly. Thank you. John thanks Michael.
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