➡ The article discusses the potential impact of the weakening yen on Asian economies, suggesting it could lead to competitive devaluations and trade imbalances. It also mentions the possibility of a financial crisis in Asia, contradicting itself at times. The article also talks about the silver market and the performance of Fortuna Silver Mines, which is preparing to increase production in the second half of the year. Lastly, it criticizes the lack of consistency in financial reporting and highlights an instance of journalistic integrity.
➡ The bankrupt cryptocurrency exchange, FTX, plans to repay most of its customers their lost money, according to a court filing. However, customers will not benefit from the appreciation of their missing tokens during the bankruptcy process. This means they will receive the dollar amount they had in their account when their cryptocurrencies were stolen, but not the increased value those cryptocurrencies may have gained. Despite this, the repayment plan is being hailed as a great deal, although some argue it’s not as beneficial as it seems.
➡ Miners are now leading the rise in metal prices, a trend that could continue due to potential financial crises. This situation is similar to January 1979 when silver prices skyrocketed. This significant change, which we’ve been anticipating for years, could happen soon. For more insights, check out the Endgame Investor on Substack and Patreon, where you can also find advice on silver savings and improving your diet.

$50 times the multiple four point six two would be a top of two hundred and thirty one dollars assuming the Fed doesn’t print any More money at all. Of course it will Well, hello there my friends Raffia from the endgame investor with this week’s silver report for arcade economics It looks like silver is starting to pull away a little bit We are very near the triple top of $30 and I found something very cool about the $30 top Compared to the 1970s top of six point five or six dollars and fifty cents I’ll show you that in a couple of slides You have the yen breaking to new lows in many Asian currency terms and people are now speculating that this could kick off a competitive devaluation because if the yen gets too weak relative to its Asian peers Then you have a trade imbalance in Asia and you have competitive currency devaluation Which is a great thing to do in a time of increasing price inflation But don’t worry They all say the Asian financial crisis of 1998 is not gonna play out because everyone’s always fighting the previous war just like generals Do so to financial policymakers.

It’s all the same stuff. I’m gonna show you an instance of actual journalistic integrity from the left which I haven’t seen in a while, but it’s about FTX and Axios versus CNBC and things to watch out for in the mainstream media and when you see some signs of honesty in the mainstream media is Cause for optimism because maybe somebody’s waking up over there We have the miners very near a triangle break out from 2011 a triangle that was established in 2020 with the August 2020 top in gold and silver at 30 We’re not quite there yet, but we’re very very close and once we break out of this triangle I think things are going to take off in the miners and instead of being dragged up by gold and silver the miners are going to lead gold and silver and that’s when we will know that we are in the Sustainable durable phase of this bull market.

So let’s begin with our sponsor Fortuna silver mines Which is taking off along with the rest of the mining complex symbol FSM Fortuna is coming off a record quarter last quarter So we had a little bit lower production per first quarter 2024 But that’s because there is a player was a planned slowdown in production to develop some more parts of their mines So he says here coming off a record fourth quarter lower production was in line with plan as Segella prepared the on-scene pit for mining A maintenance shutdown was completed at Yaramoko and then as they focus on underground preparation with site production waited to the second half Of the year, so there was a little bit of a slowdown in production as they prepare mines to ramp up production in the second half Of the year, you know, they paid down 40 million in debt return capital to shareholders And if we check out the chart and if we check out the chart, we can see here We’re resting now at 518 zoom out to a weekly view here a five-year view.

We are at final resistance here from October 2021 And then we should have clear skies until about six dollars and forty cents Exactly what’s gonna happen with these things? I don’t know miners can be very very volatile here But we see we jumped above the 200 week moving average has basically been flat since October 2022 and silver bottomed here. I think it was like sixteen dollars So the 200 week moving average is now headed back up along with the 50 week moving average Justice heading up as well. So from the basic technicals It looks like this rally is sustainable and we have a long way to go This as for tuna prepares to ramp up production for the second half of the year and let’s continue with this week’s silver report Brought to you by fsm first thing I wanted to get into today Is that the yen is not just weak against the dollar it is weak against every asian currency The reason I focus on the yen so much is that it is a keystone of the entire global kenzian System which was set up between the united states and japan after world war ii after breton woods Uh, and the japanese became the most dedicated money printers and debt accumulators in the world relative to their economy It’s about like 265 percent or some insane number like that So you can see all of the aging not all the aging countries But the major asian currency is the major trading partners of japan in the asian area You can see it’s at uh, all-time lows Relative to all a lot of these currencies you have here the chinese yuon the korean one the tai bot and the philippine peso When you have the japanese currency at a low relative to all these other currencies, it really pressures the other economies Uh to embark on competitive devaluations Because it disturbs their trade balances and then they get upset and when you have competitive devaluations In an environment where consumer prices are already rising in all these countries pretty fast Uh, you have the the recipe for really dying currencies and japan’s currency is going to get a lot weaker Pretty quickly and you’ll see why in a second.

Um, so you have here. This is uh snippets of an article from bloomberg This is not the title of the article, but I wanted to show here how uh bloomberg is contradicting itself Uh, so you have an idea of the dishonesty in financial reporting and i’ll follow this with some honesty so you can get some Sense for what to look for here. So we have asian financial crisis from competitive devaluation This is bloomberg writing about this suspected intervention to drag the yen off a 34 year low against the dollar It’s already seen as unlikely to have lasting effect if japan continues alone Raising this prospect of another bout of weakness in the beleaguered currency that could push competitive tensions With exporting neighbors south korea and taiwan to a peak and heat pressure on china where chatter is already growing about the potential for yuwan devaluation so yeah, we’re headed towards yuans valuation the point I want to emphasize in this article is that they’re saying That japan the yen is going to continue to weaken There’s not much that the bank of japan can do but here later in the article This is not the next paragraph.

This is lower in the article It says to be sure there are signs that japanese authorities may not allow the country’s currency to slump further So you have a complete contradiction between the first paragraph and that later paragraph the reason i’m putting them back to back here is to show You the open contradiction here, which is not in the article. It just confuses you in the article It says here after falling below the psychological milestone of 160 per dollar for the first time over three decades last week Two rounds of suspected official intervention have helped it stabilize at around the 155 level I noted in the endgame investor on substack that the bank of japan spent about 60 billion dollars pushing the yen higher from 160 to 155 per dollar and they did this by basically selling their dollar cash They have on their balance sheet and buying yen with it.

That’s basically all they do They exist to buy yen and sell yen and manipulate currencies. That’s why they exist But existing is basically all I do On the one hand the bank of japan could do nothing on the other hand They may not allow the japanese yen to fall below 160 and here it says in this paragraph A yen slump to the 170 to 180 per dollar level could not only cause problems for Asia But also impact emerging market currencies more broadly That’s in large part due to the yen’s role as a funding currency for carry traders Who borrow where rates are low and invest in developing nations where they are high the final quote here? Is important because we are in an environment where it’s hard to see why Treasuries would rally but here is the reason why they would briefly rally in a little bit of an earthquake out of Asia It says here if Asian currency is devalued because of the strong dollar the funds that invest in local markets will have to pull out He said the whole em market will crash and that’s going to cause a risk off event where treasuries will rally and equities will sell off This again contradicts what it said early in the article that a financial crisis will not repeat itself in Asia There’s going to be no not repeat of 1998 But here says the whole em market will crash another contradiction these articles make absolutely no sense And they just kind of spitfire different positions at you But don’t weigh them and they just kind of like put together by ai it seems Okay.

So here I wanted to go into an instance of actual journalistic integrity of axios versus cnbc So this on the right is cnbc talking about the deal in ftx The crypto exchange that went kaput a few months ago Was it a year ago already? I don’t remember Uh, so it says here ftx says most customers of the bankrupt crypto exchange will get all their money back. That sounds great That would be great. Okay So it begins by saying this almost all customers have collapsed cryptocurrency exchange ftx will get their money back and more According to a court filing.

Well, that’s that’s wonderful. And then it gives you a a sum of the cash they have on hand Um about 11.2 billion dollars. That’s amazing. So customers will get fifty thousand dollars Uh with fifty thousand dollars or less will receive 118 percent keeps going going on how great this deal is And then later in the article this is later. It’s not immediately after this It says accordingly the debtors have not been able to benefit from the appreciation of these missing tokens during the chapter 11 cases So basically that means that they will get the dollar amount that they had in their account when their uh cryptocurrencies were stolen by san bangman freed and company But they will not get the appreciation that would have accrued had they still had that bitcoin But it only says this in quoting a press release and wants to emphasize how great the deal is Where they’re getting their their dollars back but not their assets back that were stolen from them But here axios is actually a lot more honest and emphasizes what you need to know here So it says fdx plans to repay customers in full Quotation marks.

Here’s why they still lose So it says here in the first sentence fdx took a significant step in its bankruptcy case filing reorganization plan That touts to repay customers in full plus interest why it matters customers Still don’t stand to recover what they lost in the cryptocurrency collapse between the lines bankruptcy lawyers for fdx announced a plan tuesday night In which customers with fifty thousand dollars or less where the vassas on the platform Which is about 98 percent of users would get 180 percent of the value of their assets But if someone had a bitcoin and fdx at that time, it was worth eighteen thousand five hundred sixty two and now It’s worth what is it? 62 000 so uh the recovery plan Is about equivalent to a bitcoin price of twenty nine twenty one thousand nine hundred and three dollars.

Um, They’re losing about uh, they’re getting about 33 percent On the dollar or on the bitcoin. So, uh, you have perfect example here of honest reporting by axios versus dishonest reporting by cnbc If there is honesty anywhere in the mainstream media, that’s a good sign. I don’t know if it’s a trend I don’t know if this is just uh crypto Enthusiasts being honest, uh because they’re enthusiastic about crypto or whatever it is, but it’s an important example Now I wanted to get into silver. This is the silver report Of course and I saw something pretty exciting going on in the technical action here I’ve shown this chart before I wanted to get through it through another angle here This is not a contiguous chart.

You see here on the left side. You have january 1974 on the right side You have january 1978 So there is a gap here that i’m not showing but I wanted to zoom in and show The uh the triple top here that happened in the 1970s and compare it to what’s happening now So we see here in 1974 silver had a parabolic top of six dollars and fifty cents We repeated very closely that top here in may of 1974. This is the equivalent of august 2020 and in february 2021 silver squeezed top where we Got very close to the the second top here and finally in 1978 January 1978 four years later four and a half years later actually because this is february and this is november Uh almost five years later.

Uh, we had the final triple top at six dollars and fifty cents almost exactly Um, it’s it’s a very near perfect chart here and I want to show you what’s going on today So we have 2020 2024. This is a very not exactly equivalent, but there is no exact equivalence in technical analysis here I just wanted to show you this and then compare it Uh to the cpi when I came up with something pretty fascinating. So we have here the triple top Here is the 1974 equivalent. Here is the later 1974 equivalent and here is the january the november 1978 equivalent um at 30 Dollars same triple top now usually in triple tops if the triple top holds you have a collapse in asset price I do not think that’s going to happen now.

I think we’re going to break through that triple top just like we did in only 1979 Um, now note here the top at 30 dollars and note back there the top at 6.5 at six dollars and 50 cents Now what does that remind you of here? I did the math So we have six dollars and fifty cents top in the 1970s versus the thirty dollar top now in silver sound familiar Indeed it does because if we take 30 divided by six and a half dollars six dollars and fifty cents I don’t like keep saying that the ratio is four point six two And now I know that the cpi is bull I get it, but it doesn’t mean that it’s completely invalid There is some information being related in the cpi Interestingly here we have the cpi of november 1978 when that triple top was hit was 67.4 And the cpi now if you look over here in this red box 312.332 Now you take 312.33 divided by 67.4.

You have the ratio of the increase in the cpi factor. That’s four point six three Same number almost exact same number as the difference in the ratio of the silver top 30 now six and a half dollars then 4.62 now if silver had a top of 50 dollars in 1980 Just after it broke through this triple top about a year after it broke the triple top at six and a half Then 50 times the multiple of 4.62 Would be a top of 231 assuming the fed doesn’t print any more money at all. Of course it will So if we’re looking for 50 silver, we’re looking for a 231 dollar top and it is looking very much like we are in the late 1970s Close to 1979 now in silver and silver is just starting now to Get moving once we hit 30 and rise above it.

We will be in space Who knows how high we can get and the panic should be very soon after that uh in real money terms Uh, last thing I wanted to show is that we have what looks like an imminent miners breakout Uh in mining stocks and of course fsm for tunis silver mines is participating in this This is the triangle trend line from 2011 the all-time high in mining stocks. It’s the hui gold bucks gold bugs index I’m going to show two indices here. Uh, we have the top here in september 2011 at about 570 We have here a trend line established in 2020 hit again in 2022 and we’re uh Just below it here.

We’re at this resistance over here Uh at uh about what is it? 270 or whatever it is and miners did very well yesterday So once we break through this resistance, we have to break through this triangle trend line And then we should be off to the races going back to 2012 Uh where this precipitous collapse began a humongous bear market Which we are still struggling to get out of if you’re counting it by uh old highs zoom in here How close we are to this triangle is the same triangle zooming in from 2020 on a five year chart So we have here a touch here a touch and uh here we’re just pinned below this resistance We’re gonna break through it.

Uh, maybe in the next few days, maybe the next few weeks But pretty soon and once we hit something around 290 we should be out of this triangle formation and off to the races Uh gdx is even closer and I think gdx is a little bit more valid than the hui because you can’t really buy the hui It’s just an index the gdx is actually an ETF that people buy and sell So I would say it’s slightly more accurate when it’s reflective of buyer conditions or seller conditions market conditions, basically Uh, so we have the top here in 2011 in the gdx and a touch here a touch here and we’re very very close The triangle trend line looks to be at around 36 or so and we could break through that any day Uh, we’ll see what happens if we zoom in Uh, yeah, it’s about 36 just above 36 here and the further we go out the lower it will be So i’d say once we break through 36 We are through this triangle and off to the races on miners and we go into a situation where miners are leading The metals instead of following them reluctantly higher which has been the case Uh since I think the 2011 top basically, uh more or less there were instances where miners would lead But they weren’t sustained.

I think now it will be sustained as we enter into a monetary Financial crisis that could be triggered by asia and the yen Who knows what’s going to happen in the bank system the next few weeks and months stay put I do believe we are very close to January 1979 when the previous triple top was broken out in silver and then we headed within a year to 50 This could happen very quickly and then we’ve been waiting for the beginning of it for many many years It is I believe imminent in the next few months This is roffy the endgame investor If you enjoyed this video then sign up for the endgame investor at substack link in the description below And you can also become my patreon patreon where I give a biblical angle on what is going on in the monetary markets and next week we’re going to go into silver saving advice and In what ancient incomes one should improve their diets In silver terms.

I found that check that out at patreon.com slash endgame investor and i’ll see you guys next week So You
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