➡ Consumers currently have a lot of silver items like candelabras and tea sets. This silver is being pushed back up the supply chain, causing a strain. Eventually, the supply chain will try to push it back to the retailers, but there may not be enough minters to turn it back into coins. This could cause a drop in silver prices until the coins start being produced again.
➡ The text discusses the manipulation of gold prices and its impact on the economy. It suggests that gold prices are kept low to make other investments like T-bills and cryptocurrencies more attractive. However, if gold prices rise, people may abandon other investments and return to gold, causing a potential economic bubble. The text also questions whether this is a conscious process or a subconscious market reaction, suggesting that it might be a mix of both.
➡ The text discusses the relationship between gold and the economy. It suggests that if the price of gold rises or falls, other prices follow suit. The text also mentions that if gold is removed from the system, prices would decrease, while adding gold would cause prices to increase. The authors believe that the price of gold will continue to rise, affecting the price of other goods, and that this process is part of the boom and bust cycle of the economy.
➡ The discussion revolves around the recent fluctuations in the value of gold, silver, and other currencies. The speakers speculate on various reasons for these changes, such as people needing to pay off debt, speculators abandoning their positions, and possible manipulation of the market. They also discuss the potential for future volatility and emphasize the importance of holding onto precious metals despite these fluctuations. Lastly, they mention iridium as a potential hedge against a crash in silver’s value.
➡ The discussion revolves around the current situation in the silver market. There’s a high demand for pure silver bars from industries, causing a backlog at refiners who are struggling to convert items like coins into the required bars. This has led to a decrease in buying from retailers. The speaker predicts that the industrial demand for silver will drop, but the monetary demand will increase, causing a potential supply issue.
➡ The speaker is grateful that his wife isn’t overly concerned about money. He discusses a scenario where selling a valuable item, like a tea set, can be influenced by whether a refiner is buying or not. If the refiner isn’t buying, the seller might go to a pawn shop instead. The speaker also mentions that having more power can help good people make a positive impact, especially if their goal is to get the economy moving again.

Retail silver that is already in the hands of consumers. Like people who have candelabras and junk silver and tea sets or whatever that’s already on the consumer level. And it’s going, it’s trying to force its way back up the supply chain. Upstream, opposite direction. Right? Yeah. So. And then you’re saying, but when the end game comes, all this stuff that’s forcing silver up the supply chain into the bars is going to come reversing itself down from the bars into the money. But that’s not there yet. Because we’re not there yet. But like right now, like we’re playing hot potato with this stupid silver brick and it’s like really hot.

And the retail and the, the consumers are like throwing it back up the supply chain and the supply chain can’t handle it. And then eventually when the ending comes, the, the people at the top of the supply chain are going to try to force it back to the, to the retailers. But we’re not going to have the, the minters ready to fire it up and make dimes again. It’s, it’s, it’s gonna be, it’s gonna really mess up the supply of silver that’s gonna be needed for. Which is why. Exactly. Why the prices of everything in silver terms is going to plummet in the immediate aftermath at the end of the game until the coins start coming out from the bars and into the mints.

Can you imagine being the refiner who’s been like melting down coins for like a year at a furious pace? And you got to reverse everything. Turn it back, turn it back. It’s okay. Normally you would not be going 65 down the wrong way of a one way street. Apply the brakes. Put it in reverse. I can kill a bird. I don’t, I just don’t think I can like kill a goat in front of the temple. You’re not going to kill it. The priest is going to do it. Oh, the priest does it. I don’t, I don’t have to like.

No, no, no. All you have to do is, is push your hand on its head. Oh, okay. I can do that. Okay. All right. All right. So you build the third temple. I’ll come sacrifice a goat there with you. I’m serious. I’m not joking. I’ll sacrifice a good at the temple. Good. Okay, this is, this is recording. So I’ll put this in. I’ll put this in the appendix. Hey guys, Rafi here from the end game investor. And we’ve got Phil on the line with this month’s edition of the Bitter Endgame draft. And the Phil’s getting a little antsy and a little bit nervous and you have to try to calm him down in the comments below because he thinks that this might be his last show here because he thinks the world’s about to end.

I’m not so sure. And even if the world ends, it doesn’t mean we’re gonna stop recording. It seems we’re gonna stop recording until the power is back on. But I don’t know. Phil will do what he wants, and you can encourage him in the comments below. Phil, how are you doing? Are you palpitating? Are you calm? Are you on any drugs? Any Xanax lately? No, no, no, I just, I, I. If thing. If. I’ll tell you what, if things calm down, like if silver goes maybe sub 30 again and stays there for a while, then I’ll, I’ll come back on and sheepishly admit I was, I was, I was jumped the gun there.

But this looks really in gamey. So I don’t think we’re going below 30 and staying there. And if we go below 30, then that’s probably going to be the final crunch. And then from. Yeah, so there you are. So there’s no reason to be. So we are at the end game, Ravi. That’s it. If you just think about the perspective here, you know, was it two or three months ago, we were thinking about 85. 85. So that’s impossible. All right, that’s not impossible, but it’s like it’s. It’s in a different universe. And then all of a sudden it happened and we’re like, oh, my God.

85. Silver crashed. Oh, my God. It’s all we’re all doing. It’s all over. Yeah, pack it in. You know, it’s funny. I was, I was skiing that day. So on Friday, I took the day off work and I took. My son was off school, so we just went ski and I, I wasn’t checking anything at all. And then suddenly, you know, I finished, finished the skiing and we’re driving home, I’m checking. Oh, my goodness. Down 40 bucks. Yeah, that’s exactly what happened to me because I couldn’t. I was offline. I didn’t check the Internet. All Shabbos all Friday night and Saturday, I.

I’m offline. I don’t have any devices or anything like that. I’m disconnected from the world, thank God. And then I opened the phone and my kids are, where’s Silver? I’m like, oh, my God, what’s funny is like, we don’t. Because we know that. Because we know what we know. Like, I’m not worried at all. It doesn’t concern me at all. I’m not like, oh, my gosh, I just lost a third of my savings. Well, I think I did. No, no, not a third. Maybe I lost like a fifth. I don’t know. I didn’t, I didn’t do the numbers.

But yeah, I lost. I lost a sizable chunk of, of $. Of notional dollar value on Friday. I, you know, I’m not gonna hide that. It’s pretty obvious, but that’s the point. The point of our shows was to tell, you know, to teach people the volatility is absolutely expected. So, like, that way, you don’t feel, you don’t feel this. I don’t, I don’t feel anything. I feel. Consider this. You were skiing downhill while Silver was also skiing downhill. And on my way back, I was at my, I was at my brother’s a little bit south of here on my way back from his house.

I went the wrong way in the highway about 26 kilometers. I lost. And I just took the wrong exit. And then I, I, I, I went south 13km. I was supposed to go north, so I had to go north another 13 kilometers. So I lost 26 climb. I was like. So I said to my wife was like, it’s okay. Like, it’s symbolic. Silver went down. We’re going the wrong way for a while. We’ll turn around and we’ll go back home. Yeah. Yeah, There you go. I don’t want to alarm you, but we, we went to the gas station, and they were out of gas, so we had to go.

No. Yeah, I, we, we had a big snowstorm here, and like, the grocery stores do not have standard stocks, so it’s definitely, definitely can see it. Yeah. Even the roads are not as, like, the roads are not as well plowed as they were before. There. There’s definitely some structural problems happening. Okay, so the first thing we wanted to talk about today was the fact that gold, silver could be in a bubble, maybe of some sort, but gold cannot, Cannot be in a bubble. And in order to explain why that is, we have to define what gold is and what a bubble is.

Phil, I wrote about this on the in game investor. No. Or did I make a video on it? Or did I do. You made a video. You did both. You did both. Okay. I kind of like, I’ve lost track of what I’m doing. I’m kind of on autopilot. So, Phil, how does your brain categorize this information? How do you express it and your way? So what everyone has to remember is that gold is the price matrix. So when the price of gold goes up, the price of all other things in the gold derivative, when the price of gold in its own derivative goes up, the price of all other things in the gold derivative also goes up.

The system to, to keep this thing going, the system needs gold as cheap as possible, which is why it was legalized in 1974, I think it was. 74, yes, 1974, right. So one of the things about something being illegal is that it’s more expensive. So when they, when, yeah, look at drugs. Yeah, when they made gold, when they took us off the, when they took us off the gold standard in 1971, gold was starting to shoot off to the moon. So what did they. One of the things they did was to psychologically help convince people that, you know, you don’t need the gold to say, oh, you know what, you don’t need the gold anymore.

I mean, you can have gold if you want. Now we’re going to make it legal again, but you don’t really need to think about it. You can have our T bills instead. You should put your dollars into our T bills, right? Keep, keep the Ponzi going. And so that made that made gold quite a bit cheaper than it was when it was, when it was legal. But it still, it still started shooting up until, until Volker was able to really get the Ponzi going in 80. I think Paul was, was one of the, one of the motivating factors behind the legalization of gold.

I think I might be making that up. I think it’s true. But that was absolutely part of the scam. Making it legal again was part of it being like, oh, yeah, you can have those pet rocks. We don’t, we don’t care about, you know, of course they’ll use Ron Paul for their own purposes if they can, and they did, and okay, fine, but you know, what are we going to do? Yeah. And then, so like I said, like saying, gold was the price matrix and the system needs. Or gold is the price matrix and the system needs gold to stay as cheap as possible.

So the other way that they were manipulating the gold prices with gold futures contracts, right? So to, to, you know, the, in the comex, they issue a bunch of futures contracts that artificially increases the supply of. Supply of gold and causes people to think there’s more gold out there than there is. And that, of course Lowers the price. And then, of course, people start doing the physical redemptions. And then it’s revealed that there’s too many notes and the price, the price shoots back up in a panic. Right. Um, so it is the gold. Because gold is money.

Gold moves in the opposite direction of everything else in terms of bubbliness. Right. So when everything else is in a bubble, gold has to be suppressed because it is, it is the price matrix. So to, to make, to make people go, you know, invest their money in T bills or put their money in dot com companies or put their money in cryptocurrency, they have to make gold look as unattractive as possible. So people do not put their wealth back into gold and start raising the prices of consumer goods. So that is where they move in opposite directions.

You cannot have. If the price of gold goes up in dollar terms, people abandon the other bubbles, the bubbles, and move back into gold. So the price of gold must be kept down as low as possible. And the price of gold shooting up right now is a sign of the bubbles popping. So let me ask you something challenging. Sure. Do you think this is a conscious process or a market, subconscious process. And if it’s subconscious, how does it work? Because I would doubt that it’s conscious, because I, I don’t think that anyone in power really understands that gold really is money.

They wouldn’t be able to tell you why or how or whether it really matters. So if it’s subconscious, how does it work? The subconscious part comes from just people demanding the physical at some point. And it doesn’t have to be. There’s people like you and me who are like, we demand physical. We don’t want to trust your notes. But there’s also jewelers or who else takes delivery of gold. I guess just maybe banks who want to have real assets on their side of the balance sheet instead of more T bills or whatever. Speculators say the price is going to go up, and so they want to have the physical and they don’t want.

The way my cousin, when he worked for the CME explained it is that a speculator will take a warrant to take ownership of 5 of a specific bar instead of a notional bar. When he thinks that the price will go up long term and he doesn’t want to have to pay rollover costs of constantly renewing his contract. So we’ll just hold the warrant until he thinks that the price is ripe and then he’ll sell it again. Okay. Yeah. So there you go. There, there are, there are market forces that will. And then, of course, you know, if the price really starts going up, he will, that, that he’ll be sitting on the bar, he’ll change his mind, and he won’t want to sell it because he’s like, well, it’s going to go up even further.

Even if he’s, Even if he’s not thinking about gold being money, he’s like, well, gold’s going parabolic, so I might as well hold on to it until, until later where I can get even more dollars for it in the future. So, yeah, there are market forces that will pressure people to, to take and hold physical. It’s not just, it’s not just us. It’s not just the sound money people, but the sound money people certainly have an effect. I mean, I’m, I’m hearing total normies talking about gold and silver now, now they’re not panicking yet. They’re, they’re just in the.

Hey, this might be a goodbye phase. Yeah. Actually, I was in, in, in shul, in synagogue on Saturday morning, and, and the, the, the guy I would. Is he a rabbi? I don’t know. I just call him the rabbi. The rabbi. The. And he was, he was talking about the portion where this is right after the sea split. Right? And then after the sea split, we get manna from heaven, the saying man from heaven, we get bread, some kind of thing falling from the sky every morning. And that’s our breakfast, lunch, and dinner. So he was saying that the pasig, the, the verse on the falling of the manna says that we were only allowed to take what we needed for the day.

I mean, we’re not allowed to hoard it or save it. If we did, anything left over would rot. So, like, God was trying to, to train us not to save specifically and to rely on him exclusively. And that takes a lot of faith to only take what you need for the day and then rely on another miracle happening the next morning that, you know, food falling from the sky in the middle of a desert and happened 40 years straight on a rhythm. Six days, yes. One day, no. So you’re saying, like, what’s the point of, of discouraging saving? You want to save.

Saving is good. But his, his point was that, that we can’t, we can’t constantly think that we know exactly what’s going to happen in the future. And this is especially important for gold and silver bugs. We know what’s going to happen eventually, but to think that we know the timeline of how we’re going to get from here. To the end game is ridiculous. We don’t know. I didn’t know that, that gold and silver were going to crash on Friday. I had no idea. I just knew it was going to happen. I mean, I, I was, I’ve been saying that on the end game investor and here on, on every video, like it’s gonna happen.

I don’t know when, I don’t know to where, but it’s gonna happen. And okay, it happened. I don’t know if it’s over yet. Maybe it is, maybe it isn’t, but. And then he said, like, we don’t know what’s gonna, we don’t know what’s gonna happen with Iran. We don’t know what’s gonna happen with this. We don’t have the next war. We don’t know what’s gonna happen with anti Semitism and Jew hatred. These are things that are going on in Israeli’s heads. And then he says, we don’t know what’s going to happen with the price of gold.

I’m like, whoa, where did that come from? Like this guy, he’s just a guy and he’s talking about the price of gold. Okay, fine, good. No, it’s great. Just get into everybody’s head as much as possible. I mean, the sole point is to spread this out as much as possible. But the. So as I said, back to, back to gold being in a bubble, it’s simply not possible for it to be in a bubble because it is the thing that determines the bubbles of all other things. The bubble comes from fake notes for gold being printed and those notes being put into something like cryptocurrency.

So the holders of the derivative, of the derivative, like cryptocurrency, think themselves very wealthy until the crash when they realize they are not. I would point out, Phil, one thing, I’ll point out and then one thing I’ll challenge you again. One thing did not move. While Gold fell about 11% on Friday, Bitcoin price in gold did not move almost at all. Bitcoin now is like 78,000. I think it was down from like 92,000 on Friday or 90,000, whatever it was. But the, the, the bitcoin price in gold is about 16 and a half ounces. And it was about 16 and a half ounces on Thursday.

It was about the same thing. The, the challenge I want to issue you is you’ll say the price of everything is gold is the price matrix and everything is priced in gold. But you know, gold fell about 10 yesterday. But the prices of everything didn’t fall. 10. The prices of everything in dollars is about the same. And I think you’ll know the answer. And I’ll give you an answer after you. You give your crack at it. Sure. It. It’s the. It’s kind of like if you imagine a pond, right? And suddenly you throw a stone in the pond and things start doing, you know, the matrix of the pond is doing this.

So yeah, if gold stays down, prices will. Will start to come down again. I mean, prices of other goods as well. In fact, if you look at the deflation. So gold is the stone, right? Gold is the stone, right? Yeah. It’s, you know, if. If it moves up, everything else moves up. And if it moves down, everything else moves down as well. The dollar is sea level and gold is the stone that causes the. Okay, exactly. And you can. I mean, you can. It takes time. It’ll take time. If you were to suddenly remove a whole bunch of gold and gold from.

From the system, and gold got extremely expensive prices and gold terms would go way, way, way, way up whether or not we’re printing more dollars or not. If you. No, no. If you take gold away, then prices go to way, way, way down. Down. I’m sorry, down. Yes, right. Prices would go way, way, way down. You add a bunch of gold and prices would go way, way, way up. Right, exactly. Right. But it does take time for these things to filter through. It’s just like. It’s just like in the button. I will say this. The market.

The market will try. If there is a. If there is a discrepancy in gold, like if one place has more gold than other places, the market will try to extract that gold as fast as possible. That’s why in the gold rush, like, all the hookers and stuff ran straight to San Francisco. What to do? What to do? $1 300 hooker. But $300 one hooker bots. Because they’re like, well, we’ll charge, you know, we’ll charge 50 bucks a night. And in gold terms, increase. An increase in gold demand in. Equals an increase in demand for sex. That’s what you’re saying? Yes.

Yeah. Okay. Well, I think, well, at least it would maybe increase the supply just trying to extract the. Extract the gold. Yeah, yeah. There’s more supplies. Right, right. They’ll just follow the men. Okay, got it. Yeah, exactly. Yeah. Yeah. Anyway, we’re getting a little bit off topic there, but it’s. It’s just a. It’s just a matrix. If. If the price of gold continues to plummet, Then yes, I would absolutely expect to see the price of things like food continue to plummet and we’ll end up in a deflationary crash. But I don’t think that’s going to happen.

I think, I think the price of gold is going to, maybe not tomorrow, maybe not even next week, but the price of gold is going to continue rocketing up higher in dollar terms and we should see the price of everything else follow. So what I would add, not to displace your explanation at all, but to add to it, I would say that the delay between dollar prices and gold prices is what makes the boom and bust cycle work. Yeah, I think that’s true. Yeah, I would agree with that. If there were no delay, there would be no boom.

And if there’s no boom, there’s no bust. The delay, the delay, the fact that if that, that things can be so wildly mispriced in gold allows the boom to happen because that’s what makes people think that they’re rich through market forces that, that travel up from gold to everything else. And, and as fans of this channel will know, the price matrix is gold because for logical reasons, let’s not, it’s taken puritanism out of it that prices began in gold terms, therefore they are still in gold terms because you have to link up back to that past.

They’re in distorted gold terms. And, and as the price of gold heads higher, it takes however long, however long it takes for prices to filter from the beginning of the structure of production to the end of it. And that’s however long the, let’s say the limiting reagent, the, the longest thing it takes to manufacture filters from digging metals out of the ground to mine until you get an, let’s say an iPhone or whatever it is. I think that’s going to take years. It’s going to take years. But no, no, this, this isn’t going to take years.

I think the, the delay here until we, we, we feel the bulk of it will probably take months, but not much more than that. Yeah, the rebuilding is going to take years. Oh, okay. I think we’ll see. The trouble, you know what, what discourages me somewhat is that it takes, it apparently takes a very small subset of people of pretty high IQs to understand this. A normal 100 IQ guy is just not going to get this, that, that gold is money and that, you know, he’s being lied to. And so the scam can just be perpetrated.

I mean, you know, the scam will blow up, but they can start A new scam in the future. I don’t think it has anything to do with iq. I think IQ can confuse a lot of people. The smarter are, the more you overthink things. The, the biggest problem I think is overthinking everything we’re trying to say. Like it’s very simple. Prices used to be gold, therefore you have to go back to the past. And therefore prices are still gold. They’re distorted gold like but, but then, then all of their current experiences get in the way. But the current experiences we’ve had for the past 80 years are all messed up.

That’s what people don’t want to accept, right? People overthink everything. And the fact like if, if everyone lived, but this is the importance of culture. If everyone lives in a world where we operated more or less on logic, right? Gold is money. And you can’t just create it without distorting the entire structure of production. And that’s because that’s stealing. You don’t do that. Then people would have a, an innate understanding that gold is money. They don’t have to think about it. Problem is that everybody thinks too much now. And that’s the problem. So the smarter you get, the dumber you get too.

It just, well, it just discourages me that like, we can’t seem to just out think this problem, like this is going to keep happening over time as it has been happening since, since ancient Rome. It’s really, it’s really watching humanity chase its tail. Except right now we’re spinning so fast that our brains are coming out of our eye sockets. My brains are going into my feet. Yeah, it is. It is. I, I don’t want to say. Is it unfortunate that we are in this time? I don’t know. Maybe we’re just here to be in this time.

We wouldn’t have been sent here and, and we didn’t, you know, we were sent here because we didn’t ask to be born. I don’t remember asking to be born at least, but somebody put my consciousness in this time. Not saying that it didn’t exist beforehand, but we’re here for a reason. We have a job to do. So let’s just do it and stop complaining. There you go. All right, so go. I think you agree, Gold, it’s impossible. The viewer should not worry. Gold is not in a bubble. Can silver be in a bubble? Maybe. I think it’s tethered.

It’s tethered with gold. So wait, so, so wait, one more question on this. If gold is not in a bubble, Then how would you describe what happened on Friday? Not, not in terms of the mechanics on it, of it. But what is a goal? What is gold going down 10 even mean? That’s a good question. I’m, I’m not. We can talk about it during the, the puke, the, the puke phase of this conversation. The, the monetary. Okay, so let’s just, let’s just go there. Yeah, we’ll get a segue right into it. We’re gonna slide right into the barf.

Okay. Yeah, Okay. Sorry. All right. I’m not sure, I’m not sure what exactly caused the puke, but I’m also not sure what has been causing gold and silver to be going up, you know, 10% every week, you know. No, I’m not even asking about the cause. I’m asking about. Okay, given that this has happened, forget about what caused it. Right. What is it, what is it saying that now gold is 10% lower than it was yesterday or on Thursday in dollars, therefore, what is it? What does that even mean? I’m guessing it’s a paper sell off, but I’m not sure.

I mean, I don’t, I don’t think a bunch of people are running to, to with their physical gold in their hands and trying to get it into the dealers and the dealers were turning them away and dropping their prices. No, you’re, you’re still talking mechanics. I’m saying, like, okay, I’ll give it, I’ll give an example of the sort of answer that I want. Okay. And then you can improvise from there. But. Okay, so if gold is down 10 or 11, whatever it was in dollar terms, the, the, the dollar is. There was more demand for the dollar on Friday than there was for gold.

For some reason. A lot of, a lot more people wanted more dollars than gold. They had more gold than they wanted. They had less dollars than they wanted. They needed dollars for some reason. If they needed, if they needed dollars for some reason. We could speculate as to why it could be. It could be maybe they’re just stupid. That’s a, that’s possible. Or it could be that some of them needed to pay down some debt that they had that they didn’t have enough dollars and they had a lot of gold or silver. What happened to the Dixie on Friday? Did dollar spike against other currencies as well? I don’t think it went up that much.

I think it was like, I think it was like a mild rise. Yeah, I know that the shekel went up to like 3.1, but that’s like, yeah, the weakest that it’s been a long time. It could be speculators abandoning their position as well. I mean there could have been people, there could have been people saying like, you know, gold is gonna go. Gold is going parabolic. So I’ll get it, I’ll jump on the rocket now and I’ll write it to Parabola Town. And then, you know, for whatever reason, Parabola Town didn’t show up and they had their margins to cover so they, you know, they got out of their leverage school positions.

That could be too. Okay, well, mechanically, I, I think just, I, I’m not sure about this, but I’m waiting for Keith Wiener to come out with his report because he’s, he’s pretty reliable and I think he understands markets, the depth of what’s happening in each layer more than most people. But I think what might have happened, judging by the trading volume I saw an SLV and gld, they were, these were huge volumes. Like GLD was the second most shares traded in a day ever. The only, the only day that exceeded it was April 2013 when, when gold crashed.

It was also about 10% I think. But that wasn’t from a high. This was from an all time high. So I think, I think what might have happened is that, you know, retail retailers, you know, came in and, and said, okay, well this is going up, so I’ll, I’ll buy it here and I’ll set a sell stop at some, whatever level it is. And as it went higher, more people came in and multiplied that move higher in the, in the ETF and the ETF dragged up other, other, other markets like futures and other countries. And you know, because everybody looks at us for an arbitrage.

Not us, the U.S. i mean that spells us, but that’s not what I meant. And, and then what might have happened is that, you know, a selling wave started and then the first, the first level of cell stops were triggered which triggered even more selling. And then again it just kept unwinding and unwinding. And the reason that I, that I’m speculating that is that the pre, the, the discount on SLV, which is like $73 now to, to silver is at an all time record high. So SLV shares are trading at a record discount to the value of the silver that’s supposedly held in the fund.

I’m not going to argue about whether it’s there, that assuming it’s there, then, then SLV is trading at an all time record discount to the silver that it owns. What does that mean? The people are, people don’t want, people want physical and they don’t want notional silver. I don’t think it has to do anything with people. 1 I think it just has to do with, I think they set sell stops and at market and then at market you only buy not based on what the fund is worth but whatever offers are up there. Yeah. Okay, so no one, no one’s, no one’s interested in taking it.

Yeah, I guess, I guess not enough people. But I think that’s going to reverse on Monday and Tuesday as arbitragers see or whoever can, whoever can acquire enough SLV shares to redeem those shares, take the bully and sell it to China for a premium. You know they’re going to take advantage of that. Now here’s, here’s a tinfoil, tinfoil bit tidbit for you. Chris Jansen was pointing out on his sub stack that the cme, the comex has stopped market stops. So when price crashes you’re supposed, the trading is supposed to stop for, for like an hour or something, right? Yeah but that never happened.

They, they overrode, they overrode their fail safes to let the crash happen. What do you think that was about? Could be. I, I, I don’t get that deep into these kinds of theories. Not because I think they’re false but because I just, I don’t see the benefit of trying to get that deep into the structure of things to try to figure out what’s happening because in the end I realize that I don’t really give a. Because I know we’re going anyway. I do sort of feel the same way but anyway the theory was that J.P. morgan was, was covering their shorts then they needed the price to dip a lot so they could just get, get out of their short positions.

So that maybe, but then the only way they could do that is to have a bunch of futures created because that’s the only way they could get the price to drop on their, that’s the only way they could, that’s the only way they can manipulate the market is to have a bunch of futures dump onto the market. And maybe that, maybe they did that to start, and that started a, a, a sell sell cascade because everybody had stop loss orders set up on their accounts. So they start it with that avalanches into a stop loss cascade and then they can sell at their bottom.

Look, if somebody, if somebody wanted to do this they need, they need a lot of data where the stop losses, where the stop sells are you know, and this is private information. They’d need something to spy on where all the numbers are. They could trigger without people. They wouldn’t do that. Yeah, I don’t, I don’t know how it would be done. But, but open interest went down. Yeah. Way down in gold yesterday. That means like the contracts were covered. They weren’t created, they were destroyed. So I, okay, so like my problem is like, okay, fine, any one of these period theories could be correct, but I’ve never seen anyone back any of them up.

Like with, with Hard Day. I’ve never seen it. But anytime this happens, like the, the big names, they say, oh, J.P. morgan’s behind it. Maybe they are. The thing is, I’m not saying they are, they aren’t. I’m saying I don’t care. It doesn’t matter. It’s all chasing phantoms. Yeah. At the end of the day it’s just going to be the medal holders who are the winners and everyone else can be the losers. So it doesn’t like the day to day doesn’t matter. And you, once you understand that, you can detach yourself from it once again. That’s why I did not, I hadn’t, I had zero emotional reaction to, to Friday.

Oh, come on. At zero. I’m sure you had an emotional reaction. No, zero. I was, I knew this was coming. I mean I would, I probably wouldn’t even have emotions until like 40. Yeah. If it did below 40 and I got to go tell my wife like, oh yeah, we’re back to 40, you know. Okay. Yeah. No, I knew this was going to fly around. I, I made videos on this. I said, expect extreme volatility. It would not surprise me at all if silver goes up to 200 and then back down to 70. Like this doesn’t.

It’s going to happen. All I know, all I know is at the end of the crash, the gold and silver holders are going to have money. But you have to, you have to, you have to, you know, dig, dig very, very deep and not get bucked off, not get bugged off this pony because it’s, it is going to be kicking. Especially silver. Silver’s really going to be kicking. Yeah. Well, I just wanted to say in this video, you know, I think you know the answer to this because I told you, but what precious metal did is the only one that did not crash on Friday.

It’s iridium. Okay. Yeah. You have. I have, I have one ounce of iridium because I knew that silver would crash. But iridium. So iridium. Yeah. Iridium. Is the counter trade. If you’re worried about silver crashing and you want to. You want to hedge that this is the farmer hedge. Is that what you called it? I don’t know, but I leveraged iridium position. I think I’m going to start an iridium ETF with your one ounce? Yeah. Yep. Everyone can own fractional atoms in my. In my, in my ounce of iridium. I don’t even know how to sell the thing.

What am I gonna do with it? I don’t know. Okay, how’d you buy it? I got it from this site, Lucitaria. They can. Yeah, but he said, like, my price spreads are horrible, so you’re not going to get a good deal. Like, he’s warning you because he knows that nobody else is going to offer to buy it. Like, I could offer. I could buy it to. I could sell it maybe to a. A company that manufactures spark plugs, but I don’t know where that is. They could barrier with it. Yeah, no, no. I don’t want to be buried with my.

Somebody who’s going to inherit it. Okay, wait, what’s our third topic? Oh, it was the. The clog and the silver refiners. Oh, okay. Yes, yes. So this week, hopefully I’m gonna have a silver retailer, gold and silver retailer Brian Kuzmar on the channel to talk just about what’s happening at his level. Because I really. I don’t know what’s going on in the retail level. I’m not. I don’t operate a store. I’m not anywhere near retail. I’m up in the ether and I try to get down somewhere in the. In the troposphere, but I never end up on ground level.

So he’s going to talk about that. The what. What he said was that he stopped his. His store is commercial precious metals. I forgot what it’s called. It’s in Fort Lauderdale. Commercial rare coins and precious metals in Fort Lauderdale. And he stopped buying gold and silver from clients. Like, people will come in and say, here’s my coin. Give me cash. And he was doing that for a while, but he can’t do it anymore because the refiners have stopped buying what comes in. He doesn’t resell those coins to people. He sends it into a refiner and they refine it into whatever and that.

Then it ends up at Coffee Comex, back in contract maybe. Who knows? But they stopped. But the refiners stopped buying from them because they’re so clogged. So your contention is that the clog in the Refiners doesn’t, isn’t bullish and isn’t bearish. How is that? Well, it’s, we don’t know because the, the, the reason there’s a clog is because people on the, on the demand side industry is demanding unbelievable amounts of silver. In fact, they want to stack their, they’re, they’re stacking up vaults of their own silver because they, they are worried the price is going to keep going higher.

So that is causing the. But they need, you know, 0.99 pure bars in certain sizes. So the refiners need to make that for them. So they’re taking, you know, grandma’s candelabra and you know, people’s junk constitutional silver and trying to refine that into point nine nine nine bars that they can go use in the industrial process. But the, the, the difference between the two because every, because you know, a lot of people are unfortunately trying to cash in their silver now because they think, they think they’ve reached the top or near the top. And so they’re trying to cash in their constitutional silver right now.

But it’s hard to refine that into 0.999 bars and there’s a lot of it coming in on that side. So the, the dealers, the refiners don’t necessarily want that stuff and they’re not taking it. They’re offering low premiums to the dealers for it. So the dealers are offering very low premiums to the, the retail sellers and that’s, that’s causing the clock. But there is, there is a unbelievably strong demand on the, on the industrial side right now for this very pure bar silver that they can use in the processes. Now further wrinkle in the crash. All that industrial demand is going to go away very quickly because nobody can afford solar panels and electric cars and solid state batteries.

But the monetary demand for silver is going to absolutely explode. So all the silver that’s being applied into these big bars for industrial processes is being misallocated. Oh my God, you’re right. I didn’t think of that. Yeah, you know, wait, hold on, hold on. Keep on that thought. But you know how we were talking about the delay between gold prices and the effect the, and affecting the, the consumer price level in dollars. That, that delay, it seems to be mirror image in the, in the demand to sell on the retail level silver and the demand to buy on the industrial level with a common clog going in the opposite direction up the supply chain instead of down.

Elaborate. You see the, the I See it visually, I’m trying to explain it in words. We’ve all heard of the benefits of intro rectogestion and so making foods that can easily be inserted into the is essential. Now everyone knows that some foods are simple to shove up the puddings, soups, raisins. This is a nice raisin pudding right here. But we can also still eat our favorite foods. What we’re going to do today is prepare a Thanksgiving turkey for intro retro that you. We had the silver crashed 11. My question was well, why doesn’t the price, why don’t the price of everything.

Why doesn’t the CPI go down like 11%. Yeah. In a day if this, if the gold price goes down 11%. The answer is because there’s a delay between the gold level and the consumer and the consumer level which are on the opposite ends of the production structure. Right. But retail silver that is already in the hands of consumers like people who have candelabras and junk silver and tea sets or whatever that’s already on the consumer level and it’s going, it’s trying to force its way back up the supply chain upstream, opposite direction. Right? Yeah. So, and then you’re saying but when the end game comes, all this stuff that’s forcing silver up the supply chain into the bars is going to come reversing itself down from the bars into the money.

But that’s not there yet. Because we’re not there yet. But like right now like we’re playing hot potato with this stupid silver brick and it’s like really hot in the retail and the, the consumers are like throwing it back up the supply chain and the supply chain can’t handle it. And then eventually when the ending comes the, the people at the top of the supply chain are going to try to force it back to the, to the retailers but we’re not going to have the, the minters ready to fire it up and make dimes again. It’s, it’s, it’s gonna be, it’s gonna really mess up the supply of silver that’s gonna be needed.

Which is why. Exactly why the prices of everything in silver terms is going to plummet in the immediate aftermath of the end of the game. Until the coins start coming out from the bars and into the mints. Can you imagine being the refiner who’s been like melting down coins for like a year at a furious pace. Turn it back, turn it back. It’s okay. Normally you would not be going 60, 65 down the wrong way of a one way street apply the brakes. Now put it in reverse. Wait, don’t you think that’s a, That’s a good idea, like, to invest in a, in like a mint or like a producing mint right now? Right.

That’s what’s coming. That would be the most important. Anyone that can, even a backyard mint, if you can just like accurately dollop out, you can melt down silver and dollop them into little coin shapes or bar shapes. Yeah. Who cares about permits and whatever and counterfeiting? Because, like, if, if, if the government even stays intact at all. And then they’re going to try to locate everyone who can melt silver into coins and say, well, now we’re going to adopt you and we’re going to put, you know, I don’t know, Biden’s face on the dimension. Something I tell people all the time, if the, If Trump.

If, when the end game hits, if Trump melts down all the gold coin, all the, all the bars in Fort Knox, he can put his face on him. If he starts distributing out the coins, I, I think he would deserve to have his face on the coins at that point. All right, he can have his face. I don’t care. Yeah. Yeah. But anyway, so, yeah, that, That’s. That explains it. The, the refiners. The refiners are a bottleneck. Like, just like you said, it’s going upstream into the industrial processes to come back down as consumer goods in other forms.

That’s gonna, the, the streams are gonna wildly reverse in the end game, and then we’re gonna be. Everyone’s gonna be having a monetary panic for silver, and everyone that’s getting rid of their silver now is going to deeply, deeply regret it. Oh, my God. There’s so much volatile. This is nothing. Yeah, this is. I tell. As I said, don’t. Don’t even think of, like, don’t even look. It helps if you don’t look on. I know. We all look. I look. I look every day. But I mean, I didn’t. Like I said, I. I have no emotional reactions to this.

It’s fine. No, I had an emotional reaction. Like, I was thinking like, oh, well, on Thursday I was worth X and now I’m worth Y. And then I did the difference and like, whatever, you know, it didn’t affect me for long. Okay. I would only ever. You should only have an emotional reaction if, like, you need at that moment in time to disgorge some silver or gold to get, get food or something. But, like, if it, if it can sit there until it recovers in a couple weeks. Then, yeah, my kids are like, are we poor now? I’m like, no, no, everything’s fine.

No, we’re going to depression mode immediately. Be like, all right, we’re having one potato for dinner. No, my wife doesn’t, my. Thank God. My wife doesn’t care that much about money. Okay, But I, I mean, I can say that because we have enough. I mean, if we didn’t, then she probably would. But like, her, of course, her, her saturation point for like, okay, this is enough money is pretty low compared to other women. So I’m very blessed in that. Good, good. Yeah, I, I, we. I have no problems. It’s, it’s fine. It’s like, I did not have to go and explain to my wife, because you know why? Because we bought it like 20, you know, so I don’t have to say like, oh, dear, I had a, I made a bad investment.

It was like, no, I did. I made a great investment. It just, it just took a temporary dip from ballistic highs near the moon. Well, first of all, you made a great die investment. But in, in order just. We’ll close this off here. But I wanted just to finish on that, on that thought that it, it’s not bullish or bearish if a, if a refiner shuts down. The, the simplest way to explain the mechanics of that is if, let’s say the guy with the T said is going to the coin shop to sell his, his tea set to the coin shop, then that’s selling demand and that’s going, that is either going to be picked up by the refiner or not.

If it’s going to be picked up a refiner by the refiner, then he’ll sell it. If it’s not going to be picked up by the refinery, he won’t sell it. And so the, the absence of the buyer takes out that seller. So it evens out the volume. Right. Even the price. Right. Was it was, is that it might not be perfectly even. Right. He might try to, he might try to sell it at a pawn shop if he really needs the liquidity. Instead of going to the coin shop, we’ll go to the pawn shop which will get, get it at a discount.

Yeah, get it. Yeah. So that might happen. But I would assume that most people with T sets are selling their, their tea sets or whatever silver they have, their family silver. Not because they desperately need to. Some might, but it, but those that are most, most of those that are looking to sell are looking, are looking to sell because, wow, it’s like 120 an ounce. I. I better just get. Get rid of this stuff. Yeah, but then if. If, if the, if they’re lowballing, then you don’t actually get 120 ounce when you get there. So hopefully that turns some people away too.

They’re like, what do you mean? I’m only getting 90. Yeah. Or whatever. 95. You know, so I think it might be slightly bearish, but I don’t think it’s overwhelmingly bearish. Yeah, I’m. Again, I’m not. The only thing I’m worried about is that it’s sucking silver out of the retail. So there’s going to be even less silver in retail when. When the, when the. When the big one hits. But that’s good for us because we’ll have it. Yeah. Okay. You know, I. I’m willing to. I’m willing to save humanity at the sake of my own enrichment. No, no, but I, but, but if you think about it this way, the.

The more power we have and the less power the bad people have, the more likely we are to be able to save humanity, because that is the less power for them. It’s not about us having power. Like, I don’t want any kind of power, but the more that we have, the more that stackers like us have that there, our only goal is to get the division of labor moving again. Then the more power we have, the better, because we. The. The thought of abusing it makes us sick. Yep. All right. Any final thoughts? That was my final thought.

All right, There you go. I’m still thinking about you slipping in barf. All right. Take care, Rafi. And this may or may not be the last one. I don’t know my last bittering graph. We’ll find out. But, you know, comments below. Tell Phil not to go. Okay, bye. Gently extend your arm. Extend your middle finger. Very good.
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