Is what's happening on the exchanges where quietly?
Where prices blurring?
What's happening is running cover there.
It's disappearing every single day.
We see more and more and more metal drawn off of the exchanges.
Now, when I try to give answers to questions, like that so many things
are going through my mind, like, what you just said and in my adult
life, I don't remember there being so many things that were so chaotic
from.
So many places in the world, all at once coming out of a pandemic
coming out of massive money creation and low interest rates and price
Discovery, that's next to Impossible and supply.
I chained dislocations.
And, and a political Sideshow, if you will, where the decisions that
our politicians are making seemed just to be the wrong ones.
How we're continuing to go to countries like Venezuela and Saudi
Arabia and beg for oil when we all, but, shut down oil production here
in the states where we draw down our strategic petroleum reserves,
You super, super low levels and it's therefore time of war or need.
When the decisions that are being made by this country are by this
Administration.
A by our leaders are are creating havoc and simple questions like that
that should have direct answers are impossible to answer because of
what you just said there are a million reasons.
Why all hell could break loose and everything could fly off the tracks
all at once.
And
It's not just the diesel shortage, that's just one of many.
How about the fact that the whole world is waking up to inflation
about the fact that that, you know, you got Fox News that just came
out and said, Russia, and China may be preparing for gold-backed
currency.
But experts are sure dollar safest currency today, the point of it is
that all of these things are happening at the same time and now you
got the mainstream media saying what I've been saying to you guys for
two years that you're going to
A gold-backed currency in the brics Nations, what does that mean?
What happens?
If that happens, what happens to the dollar, what happens to trying to
get precious metals, what really is concerning me about everything
that is happening and you can see things, spinning.
And every different direction is what's happening on the exchanges
where quietly, where prices blurring, what's happening is running
cover there.
It's disappearing every single day.
We see more and more and more.
Metal drawn off of the exchanges.
What 80 tons of gold were purchased by China in July?
Where
Million ounces of silver were purchased by India last month.
That's more than there's it in the in the comex reserve when I did
this interview with you, a week ago, I said there was 36 million
ounces in the registered category.
Now it's down that 34, it's being bled down every single day.
It is being bled down by the biggest money in the world.
Has the price is doing nothing and what does that mean to your
question?
Which was simple and straightforward.
It means that everything that goes into answering that question has
Variability to it from interest rates to, to geopolitical issues, to
political issues, to everything that's happening.
Supply chain issues, the diesel.
The I mean everything.
It's all coming together at once and this is why I believe there will
be a moment, a moment of Reckoning.
Where people realize that the road to retirement, may not be paved
with stock certificates and mutual funds.
Like it has been
For the past 40 years.
And I just think that a question like that is very difficult to
answer.
This is why I've been telling people please get some get a Core
position.
Now cost average once you get a Core position because it's not getting
any easier.
Like for example, when I have to be told that the refineries in Turkey
are having a hard time getting product out because of geopolitical
issues.
When I have to be told that the refineries in Switzerland, can't
really guarantee too much because they don't know if they can keep the
power on.
Throughout the winter.
These are things that are adding into the equation, not just what's
going to happen.
If we run out of diesel what's going to happen?
If you know, there's an escalation of war in the Ukraine, what does
that do to the rest of Europe?
Were?
We're four of them six minutes in the world.
Are, you know, you put on your conspiratorial hat and you put that
together with the mint being completely inefficient.
A meant that has the capacity to produce roughly
Lee 5 million, silver eagles.
A month is is producing, you know, eighty five thousand a month where
I meant that hasn't sold much in the way of Gold Eagles.
For the last few years now is is curtailing production of all gold by
50% pushing premiums on Gold Eagles up above a left hand 11, 12 %.
I've never seen that in my career.
So then you pull that step back.
Say, well, the banks are making it hard to get your money out becoming
very intrusive making it difficult to wire the whole system.
It's almost as if in a coordinated fashion, it's to forestall a run on
the currency to, to forestall people creating a run on the banks and
destabilizing more than they already are.
The banks, which already have very little in the way of reserves and
are overextended.
Then they are capitalized.
You know, that's my conspiratorial hat.
I can tell you that these bank tellers are obviously told you need to
do this, these bank tellers if they feel something is even a little
bit offer told to fill out a SARS form which is a suspicious activity
report, which you know, Dunnigan Kaiser came in and asked for seven
thousand dollars and ten dollar bills and I found that to be on
Unusual.
So I'm going to report it and most more often than not that's probably
just going to fly by but you know, you come in every single week taken
out seven thousand dollars or maybe it becomes something bigger than
it is, I think it's real.
I just think it's more of what I was saying earlier.
There's just so many things that keep happening that never happened
before that.
Make you start to wonder, was not really a run on the bank, but it is
a run on the bank.
It's a psychological run on the
It's not a physical and yeah, it goes from One bank to another.
But if I mean, what do you hear over and over and over and over again?
I hear it everyday.
I just don't want my money in the bank.
I don't want my money in the bank, I don't want my money in the bank.
I wanted out of the bank now, and if I had a dollar for every time I
heard that I could buy a gold eagle and that's that's no joke.
And I know you understand that you here, too.
So there is a general unease, so pulling money out of the bank to buy
metal in my mind.
And is a psychological run on the bank.
It is not a physical run on the bank, if all the money is in the
banking system fine.
But if it's held by, you know, you understand what I'm saying is not
as broadly held as a form of safety in all the years past people used
to say, well, you know, the dollar, everyone's running to the dollar
right now because the dollar is a safe haven and people feel people
feel safe there.
And I would question whether or not that really is the case.
Yes, the
Are a super strong right now because the rest of the currencies around
the world are a basket case, but let's talk about what that will.
What that means, just for one second, all these countries continue to,
you know, jump into the dollar and to by bombs and create more
strength for the dollar.
And as we see rates continue to rise, it's going to at some point.
Create an a uncontrolled selling of bonds, it has to at some point.
Point that the the business game is going to end badly.
Because at some point, the insurance companies, the Pension funds, all
the manage money that is loaded up on bonds, that have been buying
bonds for years because it's been a 30-year bull market, will have to
start selling more.
They're going to be eviscerated and as that happens as as they sell
and bond prices fall, you can see rates go higher and higher and
higher.
And so,
This is a very bad process.
A very, it's a reinforcing Loop that, that very quickly can get out of
control that very quickly, can end this this Folly, that the dollar is
so strong, its strong in relation to the other basket case currencies.
And yeah, it's working until it completely and totally breaks.
And when does it break its gonna break?
I think as the FED continues to raise rates, or we see a more
concerted effort by countries to move away from the dollar,
And it's going to happen like that, and it's going to snarl a lot of
people who have been holding dollars because of its strength.
But the relative strength here at home, at the same time, couldn't be
less.
It's a weird situation with dollars, but I see we're very close to
that moment.
They're talking about another 75 basis point hike, and at what point
did the to the fund managers start to sell bonds because they are
getting eviscerated.
I don't know, it's coming and that's when this whole
Auction ends.
Very, very, very badly.