My way is to look at what has happened to the various Assets in the
past, see where they are now, try to figure out why, and try to figure
out if that's going to change and things are going to get better a
year.
To know, the more you're rarely, has any fear.
The market can be influenced by if you are all the central banks doing
the same thing, it certainly influences.
Has the Markham.
But no, the market never has any fear, the market does, what reality
tells it to, and if things are good markets, go up.
If things are bad markets, go down.
If governments are doing foolish things Market, react markets, react
accordingly, as you know, Patrick communities, many countries
throughout history.
There's a natural system has collapsed that money has collapsed often
throughout history when they give really bad it.
Totally collapses because the market knows certain in the 30s.
I just wasn't there, but I've read about it.
Certainly in the 30s, it was even worse.
Certainly in the 70s, there were countries.
They were getting in serious trouble, you know, not long ago, we had
the clothes, he called the Arab Spring, you know, when countries in
were getting out of control in the Middle East, not maybe not.
Well, yeah, we've had several countries at the same time before but I
mean, this is the countries you mentioned are all All small and small
players in the world economy.
You have to worry when it's somebody like Italy, not suggesting it is
going to have problems.
But you know when you have bigger countries, that's when you really
have to worry, well it's somebody's going to have to because inflation
is going to get worse and worse and worse either.
The central banks are going to have to go to double-digit interest
rate.
So, the market is going to take it was the inflation and the money
printing in the dead.
We have never seen it in world history like this.
So, Is going to have to be do something drastic, whether it's a market
or you or Central Bank somebody and back in that time we touched on
the inflation slashed stagflation.
And today we're hearing that word more frequently.
That weird being stagflation.
Can you, you know, again revisit these 70s and 80s where we experience
the stagflation and can you share your thoughts about that, period?
The gonna come again because even more printing money, man.
More more more, Or debt now than ever before and more government
spending now, then even then and as I said, one difference is America
was a creditor Nation it back in those days and now it's the largest
debtor nation in the history of the world.
No things got very, very serious invest Equity markets, stock markets,
were terrible place to be for a decade or so Bonds were terrible
everything.
The terrible place to be except gold and silver and real assets oil
real things.
A great place to be.
That's what happened.
It's happened before in history, it will happen again.
Despite what the Central Bank in America tells you?
So by economics in the you if there's too much of something, the price
goes down and never in world history of governments printed as much
money of these been turning in recent years.
So all of this gigantic amounts of paper money is going to continue to
have effect in the value of paper money is going to continue to go
down.
Well, there always are For instance, if you have a lot of oil in the
price of oil goes through the roof, you're better off than the people
who don't have oil, you have a lot of week.
Nobody else has week.
You're better off if the price of wheat is going through the roof.
Even if you do have a badly managed to Cana me because you have
something that can save you, or help you get through the hard times.
But everybody who does Every country which has huge, huge, huge debt,
and massive money.
Bernie is going to have a bad time even if they have real assets, the
ones with real assets will do mess badly, but they'll all do badly.
We haven't had a serious bear Market in the US, for instance, in for
13 years.
That's the longest in American history.
Now, maybe it'll go for 30 years, I don't know, but it's already the
longest in American history, but no, no.
We're certainly going to have bad Economic Times again.
So in two thousand, eight and nine, we had a big big economic problem
because of too much debt, Patrick, since then the debt is Scott, look
out the window.
The debt has skyrocketed everywhere in the world.
So the next economic problem is going to be the worst in my lifetime
because there are staggering amounts of debt like has never happened
in world history, in some places.
And we will, I mean in Korea they had a bubble New Zealand.
They had a bubble in property that was partly because interest rates
were so low interest.
For nothing around the world.
When it's interest rates have started going up.
Some of those bubbles have starting to slow down a bit and when
interest rates get high again it's going to destroy the property
markets.
It always has you know and if you have what even if you don't have
debt, if your neighbors have debt, it's going to hurt their property
Market to.
It's gotten worse.
I mean, more people in America, study, public relations, and study
agriculture.
No, no, the average age of Of farmers in Japan is 66 in America's 58.
I mean, I can go on and on, well, people in the UK commit, suicide and
agriculture than any other field.
So, no, we don't have enough armor.
You, you probably went to school, any of your friends, become Farmers.
No, nobody very few people could become Farmers yet.
Probably I've, of course, just because it's been such a disaster.
But I mean, you know, I own gold and silver, I'm going to buy more.
Of both sometime, I don't know.
When
It's been going down correcting.
I if they correct enough, I'll buy more both.
It just depends on how the world develops energy.
If industry comes down enough, I'll certainly buy more energy to put.
The market will tell me what to buy Patrick Patrick, if you can answer
that question we'll all be rich.
You know what it doesn't matter what you're talking about.
If you're talking about Ten Cent or Amazon, whatever you're talking
about you there are various and Three factors which go into the price
of any asset including silver and gold and commodities agriculture.
I said before it's been a disaster so it may be cheaper only historic
basis but Silver's on what 60 or 70 percent from its all-time high.
That's not a bubble.
I'm sure that's not a bubble.
My way is to look at what has happened to the various assets and the
past.
See where they are now.
Try to figure out why and try to figure out if that's going to change
and things are going to get better a year or two.