Investors are waking up to the silver story and last but not least is
the silver.
Psyop, why did all this money?
The potential in the silver going to cryptocurrencies because they
were there but it doesn't take much of a shift out of cryptos into the
safety and Sanity of silver to push the market even higher.
Well hopefully it's a very probable but it is always probable that
there could be some Miss patch and just to further that idea this
first date depository that didn't responsible for hoarding holding
precious metals for many gold and silver Ira accounts has gone into
receivership.
So that would kind of say, oh, well, David's somewhat right now.
Did that really disrupt the market?
Well, no did
Really disrupt the entire silver market.
But all those people that had precious metals Ira Hayes, it certainly
disrupted them to a great extent so that's kind of what I was more or
less trying to imply but on a bigger scale you're still correct.
The could be something large enough that it affects the market at
large but you know that's a Black Swan.
I think it's more important to focus on the overall trend then you
know, a particular Black Swan.
But nonetheless we have to bear that in mind.
Another word.
What you've said, what I've said, what your brothers have said, you
know?
If you don't hold it, you don't know that.
And that's really the smartest place to be even in an IRA and I just
want to jump on that a little bit more.
I mean when people ask if they want to know, they asked David what's
your opinion on having the gold and silver in an IRA versus outside of
an IR?
I always have the same answer, it's best to have it outside in an IRA,
but for many people, their only savings or the bulk of their savings
is in an iron.
So on that are or some type of vested, you know, government-approved
Savings Program as sep IRAs, Roth IRAs in whatever.
So in those cases and say, absolutely it's better to have it, you
know, are some of it anyway in precious metals and not at all.
But as far as safety is concerned,
You want something that's that precious outside of any government
intervention?
If at all possible?
Sure.
The I've had about three consultations people that had metal through
an IRA in the state first.
A depository and two of them were in segregated account.
So if you read the contract, what it says about segregated in theory
and I want to emphasize the word theory, they should be able to get
the metal back.
Because it's been you know segregated exact coins they put in on the
exact coins I get out.
That's a segregated mean.
Now I don't expect that to happen.
At least I asked them to make reference to it and send it to both the
IRA and also to the first date depository, receivership website.
And at least they have it on record whenever you go on that allocated
or unallocated you're playing with fire even allocated.
Allocated this amount of silver over there in this pile.
It's still a pile of silver.
So, whatever you put in,
To that pile of not, doesn't necessarily mean you're going to get it
back out.
You'll get silver out of the pile but not what you put in and a lot of
cases that wouldn't matter like kind of industrial user.
But on an investment basis I would always go for segregated and pay
the more expensive amount for storage and be safe than I would on an
allocate unallocated is
Just what it says.
It's just silver, flying around here.
At can be paper, it can be physical.
It could be a mishmash of loaned out silver.
That's do, could be partially options on Futures.
It could be a number of things and it's all legal, you know, by the
letter of the law, but it's the worst way to hold a position, it's or
so, or Coral gold.
So, I would just reiterate what you and I have.
I said so many times that's the general breakdown set on many channels
that there's been a huge draw down, both the comex in the lbma and
again going back to what I was talking about with this first
depository and on previous interview that, you know, something could
break again.
What just think about this first date deposit?
Or is that the only one that's doing some Shenanigans?
Well, call it with the precious metal centers in their vault and the
answer is no.
There could be another one or two or five or ten, I don't know.
But I do know that there's the high probability of more than this
first a depository.
So that's the kind of information I was trying to convey on the last
interview.
It's not necessarily something breaks on the comex or the lbma which
could it's more subtle than that it's more about.
Let's say storage facility that's well-regarded first date.
Ah story well
Well, known has been in business for quite some time and highly
trusted.
That's why these Ira custodians used because you know, it was fine
until it wasn't.
So I think there's more of that to come and as far as the stockpile
decreasing, it's going to be interested.
I've seen the comex down to the level, we're at right now and then all
of a sudden out of nowhere, I should say, out of nowhere.
Out of somewhere, comes a very substantial.
The amount of silver to replenish the register category but I'm not
seeing it this time.
Yeah to get anyway.
And I also looking at the lbma, I know they have a different attitude
with the association.
That's not quite as restrictive as what the comex is, meaning that
you're not sure what that bar sitting on a shelf somewhere.
How many real potential owners are in a bar?
And so even though the inventory may be there, there could be an
overage of claims against it versus what the physical properties are.
So I do think that we are getting close.
I do think that the investment Community, that's moved into precious
metals, will continue to add to their stock.
Piles that are their investment and the fact that Wall Street, Silver
and others, have started to educate many people that were unaware.
Of what happens at the end of the great Empires.
When the inflation experiment comes to an end again and all Fiat fails
and knowing that it will fail probably within their lifetime.
At least for those that are, you know, certain age group.
So I think I've said enough but it's really important to realize that
there are these subtleties going on behind the scenes.
In fact, I talked to somebody that's really pretty grounded and
well-known in the silver community and they were unaware of this first
state depository going.
Under and never said, I know what all I don't.
I'm not a know-it-all and alert at all, but that's when I was aware
of.
But, you know, it's not front-page news, at least not right now.
I think it's done enough damage to really hurt the whole crypto Sphere
for probably a few years.
I mean, not that they want some will climb up from this, you know,
where they're at right now.
But overall, they'll be a lot.
Lot of skepticism going into any crypto currency for quite some time.
And a lot of people Pension funds, major, brokerage houses, leverage
players hedge funds notables that are, you know, Financial
quote-unquote.
Experts that have backed ft x or cryptos in general.
I think it's been significant enough to impact it again for quite some
time.
And I again think that they'll be some let's say, wise individuals
that really
Lies the difference between metal disc that's proven to be outside.
Is the most decentralized Finance available far.
Superior to any purported, decentralized Finance that's with dependent
on a blockchain computer, the electrical grid and also the
counterparty.
Whereas if you hold it known it's been good for, you know, 45 thousand
years is probably going to be good for the rest of your life time.
So I think we'll see a shift.
some of that money, that's salvageable will come out of the crypto
sphere into the precious metals and particularly silver because
It's the most undervalued asset on a relative basis of any other
financial asset that you can make.
That's not the most popular stance but it's mine.
I really do.
Believe that we have hit the bottom.
I called the bottom of 1850 was proven wrong but not by much enough a
very long when I if you go to the time I said it I was a little early
but like in a couple of weeks or less and as far as price.
Yeah.
Close enough to me.
So I think with what we've seen with the volumes and now, you know
what this article that just came out as far as I know yesterday from
the silver Institute that the they're looking for a deficit of 200
million ounces.
That's significant.
Solars taking 10% of the the industrial side industry isn't slowing
down and silver uses because of the alt energy push and investors are
waking up to the
Silver story and last but not least is the silver psyop, why did all
this money that potential in the silver going to cryptocurrencies?
Because they were there but it doesn't take much of a shift out of
kryptos into the safety and Sanity of silver to push the market even
higher.