Andy Schectman: Golds Back Over $2500 As Money Starts Going Back Into ETFs | Arcadia Economics

Gold ETF flows experienced their strongest month since April of 2022, attracting 3.7 billion in July, 3 consecutive monthly inflow. Well, hello there, my friends. Chris Marcus here with you for arcade economics on what has started off as a rather exciting week in the metals. On Monday, we had the gold price in the December, futures back over $2,500 an ounce. Silver rallying, too, and sky not falling completely in precious metals world. So hang in there, everyone. And I mean, I think still, when you think back to where we were at the beginning of the year, I think it’s been a good year all in all, and this is before the Fed rate cuts, which we will talk about, as well as some other things happening in gold and silver.

Also excited to get an update on the premiums, which I know Andy Schechman mentioned, had seen signs of starting to tick up last week. And we will touch on all of that and a lot more. And joining me, as you may have imagined, is Andrew Shekman of Miles Franklin. So, Andy, good to have you back here. And how are you doing today? You too, my brother. I’m doing good, thank you. Yeah, you know, it’s, it’s interesting the, the world didn’t fall apart. That’s, that’s good to know. And it sure seemed like that last Monday and, and cooler heads have prevailed.

And, but, you know, I think that there could certainly, I think it’s that kind of environment, Chris, I really do. I think it’s the kind of environment where there’s so many things spinning right now. It’s such a, you know, out of control and so many different things all over the place that things can go from calm to crazy in a matter of a moment, or in the case of former President Trump, an 8th of an inch. Or, I mean, it’s just, I just think we’re kind of like walking on really thin ice, you know, and you can hear it cracking underneath you.

Every step you take, it cracks but doesn’t fall. I fell through the ice once living in Minnesota. Let me tell you how scary that was. And I wasn’t planning on saying this, but since I kind of led down this path out of nowhere, I don’t know why I did. But you go from sound footing to bang. You’re underwater, and it’s scary as hell. And actually, I also did this on a snowmobile once in the state of Minnesota. Went through open water, and it’s scary when you hit the water. And I think that’s something that we could draw an analogy to here with the markets and how it happened on a Monday morning and a Sunday night.

And there are so many things where look what happened in the UK. They try to raise rates a little bit and they blow up the pension system. They have to reverse course. Try to raise rates in the United States a little bit, you start to blow up the banks, and now they’re talking, begging to reverse course. Same thing happened in Japan. Try to strengthen the yen a little bit and raise rates, and bang, you set off a chain reaction globally. And this is what happens when you mess with Mother Nature and you suppress interest rates for a very long time, and you create all of these distortions and all of this debt that was accumulated because rates were so low.

So yeah, it is calm right now, but what’s the next ice to break or crack or, you know, I don’t know. But I will say, I just have this feeling, I bet a lot of people do, Chris. They have feeling that something’s not right. They’re not maybe as well read in this stuff as you are, and they can’t articulate it maybe the way you could. But I think that there’s a tingling sense, so to speak, that on so many levels, it’s all as calm right now and quiet in the metals industry. But I will tell you that you could take a step, or in my case, go around the wrong corner and bang, there’s open water.

And there you go right into it, you and two buddies with your snowmobiles in open water. And it’s scary when you hit the water. I think that’s an analogy that I would say is apropos for the state of affairs in our economy and in our country right now. So dont know how I went down this way, but I kind of like it. And I would say its accurate. Ice hasnt broken yet underneath the premiums or underneath the industry. But very, very quickly. It could, and lets hope it doesnt. But I wouldnt bet against it. Preston well, yeah, I love your analogies.

In fact, if anyone can make one of those calendars where you get different Andy analogy each day of the year, I think that would be nice. I love your one legged, ass kicking cowboy contest, personal favorite of mine, and a lot of wisdom that you have there. And I know what you mean, because traditionally, many, not necessarily everyone, but I think a lot of us think of metals pricing in geopolitical uncertainty, currency risk. And I try to be careful of not just every time things in the world look rocky that assume that that’s going to be the factor to drive the metals higher at some level, you do think, you do wonder if there’s a breakpoint somewhere in there.

And one thing that came out over the weekend, I saw a couple of places reporting that their July 28 was an assassination attempt on Putin now being reported. Then you have Nancy Pelosi saying it didn’t sound like Joe Biden, which I continue to feel seems a little odd the way that went down. One day he’s adamant not dropping out, a couple days later he’s sick. There were reports on Twitter, for whatever that is worth, that might not make it through the night. We hear reports that the emergency room in the Las Vegas hospital called. And then really all we’ve seen since then was the statement, which Pelosi is saying doesn’t sound like him.

And then the press conference. And nowhere in there has he explained what the change was that went from drastic not dropping out to now. So a lot of things happening, of course, in Israel and Iran. And I very much know what you mean. Although, Andy, I’m going to pull up real quickly, the golden silver charts, something you mentioned last week that you did see one wholesaler, I believe it was in Switzerland raising some premiums. And I’m curious now that we’ve had that week where we did have the big decline in the Nikkei last week, down 12.4% on Monday, up 10% on Tuesday.

But anyway, a week later we stand here with $28 silver rallying again on Monday, and the gold future is above 2500 now. So, curious, anything you could tell us about premiums and what you’ve seen in order flow? In the last week, order flow has been strong. Premiums have really not budged too much, not enough to even comment on. It’s not material, but the demand is higher. I think people are concerned. But yet the people that are concerned are the pimple on the elephant’s ass. They’re the people we’ve been talking to for a long time. One of the growing trends that I saw over the last several years since really since the outbreak of the pandemic, was a widening of what is a very small sample size, if you will, of people who understand whats happening and its bigger than it was in 2019 and its grown to a level that has woke people up.

But as Rick Rule says, the allocation in metals from Joe and Jane Sixpack to the Harvard Endowment Fund is one half of 1%. Now, im not sure where he gets that info, how he comes up with it, but it’s probably relatively accurate. And that’s one of the things that I was thinking about just the other day. So, I mean, to answer your question, Chris, premiums haven’t done a ton, but they will. And I was thinking the other day, the way that they came in, and you got the finance minister, japanese finance minister, backtracking, well, we won’t raise rates.

We’ll collide it down. And. And you see things calming down, whether it be Silicon Valley bank and signature bank failing, where we added 14,000 clients in 45 days, and then it just was calm. And the bank failures that have failed have just been reorganized under a different company name or were consolidated, consolidated by JP Morgan or whomever else fades away into the ether. All of these things that keep happening, that’s one of the hallmarks of it, is that they just fade away and everything’s okay. And I don’t know if it was more intervening, but Mother Nature hasn’t had her pound of flesh yet.

When you realize that the balance sheet of the Fed in zero eight was 800 billion, and even with quantitative tightening, I’m not sure what it is now. Maybe you know, but it’s still somewhere in the neighborhood of 8 trillion, a tenfold increase in their balance sheet since 2008. Most of it, almost all of it in bonds. All of it in bonds, which forms, whether they be mortgage backed securities or treasuries, which suppress interest rates, which create all of these distortions. And so the question is, when we have a crack in the ice and 1ft goes through like we saw on Monday, is there more intervening? Are they coming in and papering it over, only ultimately making the final outcome worse? I’m not sure.

But I will tell you in my soul, I know we have not seen the end of problems, but I think it goes to show how close we are to falling through the ice all the way, and just a little bit of an increase in the yen and a little bit of increase in their interest rates. And now you have guys like what’s his name, the guy from Wharton. He wrote it. Jeremy Siegel. Yeah. Thank you. Thank you. God, you’re smart, Jeremy. Yeah. Begging for 150 basis point decrease, which would only further exacerbate the unwinding of the carry trade.

So I don’t know, man. I think we’re damned if we do. We’re damned if we don’t. Do we succumb to inflation? Do we let the system implode? I don’t know. But, yeah, it’s calm right now, but I think very quickly that’ll change. And I see there being a time, I really do. I see there being a time Chris. And I mean, this is God as my witness, where gold and silver have the same type of demand that securities have had for a long time. Maybe there’s some event where the very, very wealthy people just get on the phone and they say, I’ll take everything you have.

I don’t care what it costs. Give it all to me. What do you do at that point, as a business owner? Someone says, you got 300 million worth for me, 500 million. I’ll take it all. All of it. And I think that will happen when people wake up to something and there’s going to be something to reset this system. And I don’t know if it’s by revaluing gold or the whole system imploding because of Operation Sandman, the dollar’s dumped, or something far less dramatic, but we cannot continue down a path of creating $100,000 of debt per second, because, as Putin said, and would it really surprise anyone if we tried to assassinate Putin? I mean, who in the hell could ever say that the ineptitude of the Secret Service in protecting President Trump, so much ineptitude that it becomes more than that.

It becomes plan. And who’s to say we didn’t do it? Just like the, you know, the pipeline under the ocean, the Nord stream pipeline. Who’s to say that we weren’t involved in any of this stuff? I’m not trying to go down that road of being conspiratorial, but. But what I am saying, there will be something that wakes people up, and I do believe that. And if and when there is a wake up call, I think very quickly it goes from being calm to chaos, just like that. And it happens in a point where one or two or three wealthy people can blow up this entire industry, literally a billion dollars, there would be nothing left on any online company in America.

And when you realize that everyone is ordering product from around the globe, how fast can that shut off? I don’t know. I’m just simply saying to wait for confirmation is the dumbest thing you could ever do, if that’s what your intentions are. And maybe it’s not even people waiting for confirmations. It’s more a statement that I think by the time the public realizes that you and I have been right for a long time, just way early, there’s a high probability you won’t get product. And I say that from witnessing this happen, when no one wanted gold, where the mints run out of product for whatever reason, and there’s nothing left.

And then you put into the equation possibilities of war and supply chains being shut off and being more of a protectionist environment. All of these countries who are selling gold to the west, maybe they say, no, we’re going to keep it for ourselves. People talk about nationalizing the mines, what about nationalizing the mints? What about nationalizing the country’s assets? If Zoltan Pozar is right and this is about he or she who has a commodities wins, at some point that has to happen. So I guess I’m saying that I don’t think this will be something that we comment on week after week where it’s rising premium as much as it goes from a zero to 100 miles an hour.

I would say there’s a higher probability in this environment. And I would say if anyone, if people could raise their hands watching this video, and I would say how many people think that there will be something that shocks people between now and end of the year, before the election, how many people do you think Chris would raise their hands out of ten? 8910 or less? I don’t know. I think it might be all of them. So when you talk about premium, yeah, it’s as good as it’s been for the last couple of years, it’s up a little bit.

But silver eagles are still basically as cheap as they’ve been in four years, as is junk silver and availability as good as it’s been in four years. And it makes zero sense to me at a time when ETF’s in China are up 85 90%. But here it’s like the people in the west, because of the media that doesn’t tell us what’s happening, are being led to the pen with the rest of the sheep. And that’s the truth. And I try so hard to be passionate about this stuff. So you can take the fact out of the equation that I own a metals company because I did an interview earlier today and some people say it sounds like silver pumping, but it’s nothing, it’s just not.

It’s just actually trying to do the right thing and run a good business. A lot of people think they have to be mutually exclusive, but I do believe, Chris, there will come a time where it goes from zero to 100, where there are such large sales by people who are so scared that the premiums go parabolic. And that’s why they say there’s no bull market like a metals bull market. Because in that environment, who the hell is going to sell back into dollars for a huge profit? For what? And people, the higher the metal goes or the scarier the world gets only reinforces people’s mentality for ordering in the first place.

So yeah, that’s when the secondary market’s gone. And if you’re only reliant upon the US and the canadian mint and a handful of domestic refineries, good luck. So yeah, it’s a good time to buy it now. Premiums are attractive and for the life of me I don’t understand that. I think they should be much higher and I think products should be much tougher to get. But that just comes from someone who drank the kool aid a long long time ago. And I believe every word I say to you. I believe in my soul. So hopefully people will take me at face value on that.

As good as it’s been since I started talking to you, premiums and availability. But in a flick of a switch that changes. It’s changed when times were normal. These aren’t normal times. So I anticipate some sort of an event like on a Monday morning, just like we saw last week with Japan. Something waking the public up to reality. A reality you and I understand and most people unfortunately dont. Yeah well I hear you. And speaking of anticipation, one thing I anticipate is federal reserve interest rate cutting. And I might add im not alone on this one as you see.

51.5% chance of 50 basis points by September. And if we ever get to that point where I get one of those videos like the. Peter Schiff was right. Would in my case like to point out that for the last couple of weeks, ever since Vince talked about that Goldman Sachs report where they mentioned maybe what’s going to draw the western buyers back in is when we get the rate cuts. Which again I think on the face of it is not rocket science yet. Makes sense when you think about how everything so far has been driven by the east, primarily by the east, we’ve seen outflows that has reversed as we will find out right here.

Because you see the gold ETF flows experience their strongest month since April of 2022 attracting 3.7 billion in July. 3 consecutive monthly inflow. So as these rate cuts I guess till the rate is cut it’s not actually cut. But as the market is believing that the rate cuts are coming, we’re seeing that also we did have central bank gold buying record in for the first half. As you see central banks added 483 tons of gold through the first six months of the year. And that’s 5% above the record of 460 tons in the first half of last year.

So a record for the amount of gold purchased by central banks in the first half of the year. And also we saw global gold demand rises 4% in the second quarter. So we’ve heard the indications, China not reporting additional gold holdings, a lot of data points that might suggest otherwise. And at the end of the day, let me pull. Yeah, this one. There you go, another record. I believe we had a record in the first quarter record this year. Now, we’ve had a first half record this year, so on pace, at least for a full year record, which we’ll see in due time, but seems like it’s going to be a lot of gold, shall we say? Yeah, but it.

Numerically precise terms. Yeah, 100%, 100%, completely agree with it. And I read that article and talking about Turkey and India and Poland being at the top of the food chain in terms of purchasing. And when I heard that, I went back through some notes that I had maybe a year ago, two years ago, and it was in 2021 that the head of the Polish National Bank, Adam Glopinski, he was talking about why they were expanding their gold holdings. He said gold will retain its value even when someone cuts off the power to the global financial system, destroying traditional assets based on electricity, electronic accounting records.

Of course, we do not assume that this will happen, but as the saying goes, forewarned is always insured and the central bank is required to be prepared for even the most unfavorable circumstances. That’s why we see a special place for gold in our foreign exchange management. Of course, in that article, I think they talk about the head of the Dutch national bank, who talks about if there’s a financial crisis and gold price will skyrocket and the official gold reserves can be used to underpin a new gold standard, according to the Dutch National bank. So when you talk about the central bankers, they know the playbook, and that’s the truth.

And I think most of the numbers that are reported in these central bank holdings are massively understated. But that’s okay. It’s still quite obvious that they are the ones that have been leading the charge in gold’s rise. I don’t know how much investor demand really factors into it in North America, I really don’t, because, quite frankly, I’ve never in 34 years, seen a period of time where, you know, anything more than 1% is, is invested in, in metals. And as Rick says, it’s a half a percent or less. So what happens if it’s 5% or 10% or an allocation on average of 10%, you know, I mean, is that really that outlandish when all hell is breaking loose.

Well, that’s a 20 fold increase, then, if Rick is right. So what does that do to the supply demand numbers? What does that do to the availability? This has been an industry where getting product for many, many times in my career has been very challenging in a period of time where, you know, no one’s buying it, really. So, yeah, I think it’s interesting. This is misdirection. The smart people misdirect everyone else with rhetoric, with price and with what’s happening in other markets. And at the same time, that leaves them unfettered access to accumulate without being crowded out of the trade, without being outed, if you will, for what they’re intending to do.

So, yeah, those numbers, I bet they’re much higher than what they say. It’s like you and Vince talking about the silver concentrate endore, that has been purchased in Latin America. All of that has been done so as to not trade off of an exchange, to not move the price. How much is that is done around the world in gold and silver? I don’t know, but I would simply say that when you have the head of the IMF come out and say that China is well understating the amount of gold that they’re buying. When you have the import export data, when all the banks are going through, I think in the UK, they have to use the banks or whatnot to go through the export data to the refineries or to the end user.

It shows that China did not stop buying for two months in a row, as we knew that they didn’t. It’s interesting they turned down the premium on the Shanghai exchange for gold, not on silver, but make the west price slightly higher than Shanghai to make people think, yeah, they stopped buying gold. Yeah, that’s real. But they didn’t. And look at the effect that it had. But here we are right back up again. So, yeah, I think this is a trend that will continue until something breaks and then it accelerates. If this is really true, where they are trying to misdirect, they are trying to accumulate.

It wouldn’t do them any good to be forthright about their accumulation. It wouldn’t do them any good to be very honest about it and especially if we revalue gold and it underpins a new system. It’s funny because no one talks about how much gold does the US have. Where did the gold go from the Ukraine? The 12 billion that they sold? Where did Gaddafi’s gold go and his silver? Where did Hussein’s gold go? I mean, where did it all go? Do we have it? Did we confiscate it while we were there? Are our numbers right? Who knows? We don’t tell.

So to expect any of the numbers that these central banks are telling, it’s probably all fugazi, but probably much higher than what they’re actually saying. Well, I’m personally just waiting for Don run spell to tell us that he found the missing 2.3 trillion that disappeared on September 10. And the audit now that was blown up in the Pentagon, but nonetheless, back to some more gold and silver related matters. Andy, as I had mentioned a couple of weeks ago, we’ve been taking notes from the in gold we trust report and we still have a couple left to go through.

And I’ve only gone through one. I got through the first quarter. It’s a 400 page report. So I got little ways to go. But let’s pick it up here because they mentioned a key element of the new gold playbook is that the western financial investor is no longer the marginal buyer or seller. Significant demand from central banks and private asian investors is the main reason why the price of gold has been able to thrive even in the environment we’ve seen of rising real interest rates, although technically, depending on what inflation rate you use, could make the case that we don’t have positive real rates.

But that aside, how can it be explained? In their opinion, it seems western investors are stubbornly sticking to the old playbook. Rising real rates translates into a lower gold price and therefore leads to net negative gold sales. Now I might add that when, and let’s pull up the chart. We’re good at the videotape, as the great Warner Wolf used to say. And here you can see, this is your tips. Real yield, so inverted. So as the blue line gets a higher yield here, typically gold would follow that go down. And I don’t think it’s shocking that the diversion, this occurred right after Russia got kicked out of the swift system, which really has just continued to escalate.

I sent you that email last week, the write up I did about how the treasury has now ordered us banks to report assets that was supposed to be reported by August 2. So about ten days later. Now well see how that goes. And, but I mean, every sign possible that this is being exacerbated. And in either case though, now you have the rates going down as well or about to go down as well. So well see how that adds into the eastern demand. And they had a few other notes here since the IPO of gold in August 15, 1971, when Nixon took us off the gold standard, average annual increase in price of gold has been 10%, annualized growth rate 7.8%.

And lastly, of course, we had World Bank Gold investing handbook for asset managers, which was unusual. I still think the Federal Reserve doing a study on whether gold stabilizes prices, it stabilizes prices in the long term was a bit unexpected. But either case I think were going to see that tested. Now where you have this pattern, it broke down. But now in addition to whats going on in the east, you have the west as well. And I suppose in due time, well find out. Well, let me comment on that just a little bit and read just a couple of paragraphs.

It’s from Forbes of all place and the article is titled it’s hard to believe, but the world is beginning to lurch toward a gold based monetary system. It’s exactly what you’re talking about. He says this despite the fact that the historical gold standard is held in almost universal contempt by economists and financial officials. Contrary to numerous myths based on ignorance, the system worked. The US was on a gold based system for 180 years, until the early 1970s. You mentioned 1971. There, we had never had inflation when the dollar’s value was tied to the yellow metal. And the US experienced the greatest long term economic growth in human history.

However, the signs of changes are here. One is that the central banks in recent years have been purchasing gold at record levels. Buyers include China, India, Russia, and a number of other nations such as Poland. These countries are reacting to growing doubts about the long term value of the dollar, which in turn is a symptom of the perceived decline of the United States. And one thing that was very interesting was the comment they made about India. They said India last year began experimenting with gold based government bonds. And this is exactly what Judy Shelton is talking about, who I think if Trump wins, will be the head of the Federal Reserve.

She is advocating for 30 year bonds backed by gold or redeemable in gold. And the article says, monetary expert Nathan Lewis, who co authored our book, inflation what it is, why it’s bad, and how to fix it, observes, these would probably be very popular with investors worldwide. From the start of the floating currency era in 1971 to the present, a gold bond paying 4% would have outperformed all stock and bond markets worldwide. And so when you talk about what you just said is exactly what Forbes is saying, and defined it in a western based publication, is one of the first times in years that I’ve seen anything that is pro gold in a western publication that doesn’t have a yeah but a yeah, but there is no yeah, but here.

In fact, they end it with Zimbabwe, which must hold the record for hyperinflation, recently announced the launch of a new currency fixed to gold. Deep skepticism is warranted that this government has the discipline to make such an argument work. But the move is a sign of things to come. So maybe people are waking up, maybe the elite are waking up. When you hear Senator Loomis from Wyoming talk about funding this bitcoin strategic fund by revaluing the feds gold, I mean, youre hearing the word gold and revaluing more than I ever have in my career from western entities.

And maybe the public wakes up, but this is why so few people succeed in investing, Chris. And as an options trader, you have to understand that they follow the herd. The herd is yet to catch on. There are a few stragglers who are waking up and haven’t woken up the herd yet. But when that happens, things can get very crazy. But to see this in a western publication like Forbes, I found it to be enlightening and actually somewhat, for me, I was somewhat optimistic that maybe indeed there is a gradual shift to a different way of thinking instead of recency and normalcy bias.

Yeah, well, speaking of enlightening moments, I know I said we’re about to wrap up here, but did have to release this news that turns out, remember all that talk about the trillion dollar platinum coin and most people, or maybe not most people, but a lot of people were saying, well, that seems a little bit of a fraudulent way of balancing your budget. Just make this one a trillion. Although it turns out I was reading Luke Grohman’s column on Friday and he had found an article. This actually was seriously considered. There was the author, Jason Leopold, obtained a series of freedom of information request acts that were submitted to the Justice Department and we won’t go through the details today.

Maybe I’ll review it again and we can dig into it next week. But was considered, there was actual high level discussion during the years in the debt ceiling debates of Jess Mint, a trillion dollar platinum coin, which fortunately, I decided that I’m going to take a couple of my ounces of silver here and I’m going to make my own trillion dollar silver ounce. That’s how crazy it is, brother. Although there’s more because I thought, what’s the one thing better than a trillion dollar ounce of silver, Andy? Come on, what do you think? Say that again. What’s the one thing better than a trillion dollar silver coin? A trillion dollar silver chopper Ben.

I gotta believe that’s what it is. It’s a good guess, but the correct answer is a $2 trillion silver. So I figured I’ll, maybe I’ll mark it up to three or four. I’ll give you a trilly. Anybody who’s watching at home, write in, take advantage of this week’s special, and we’ll add a trillion evaluation to my silver coin there. And we’ll just give out trillions for everyone. Why stop it? That’s the part I don’t get. Why stop at one? And I mean, are they going to make 35 of these? But was just, well, I just think what it does is it tells the whole world we’re full of shit.

And instead of doing it that way, why not just revalue gold dollar, 120,000 an ounce and it benefit every central bank on the planet. You’ll have less people complaining and then everyone’s balance sheet looks better. Instead I read an article, I don’t remember who was talking about, but they’re like, take a paperclip and make it worth a trillion dollars. The fact that it’s a platinum coin is stupid. I because a platinum coin, 1oz platinum coin is worth $1,000. So how big is that coin? Are they going to make that coin the size of my house? I’m not sure.

But if they plan on doing that, it just goes to show the whole system is full of crap. Instead, revalue gold like you’ve been hearing about in the gold revaluation account. Make it 100,000 an ounce. It’ll never come back down. It’ll be pegged to a new system and every central bank in the world benefits rather than doing something stupid like that, which makes everyone think we’re just a bunch of idiots. Although I think the trillion trillion dollars silver chopper Ben makes a lot of sense too. So I like where you’re going with that. I think Ben would approve too.

So I’m sure Ben would approve. And it is. That is, he is a handsome guy. And that is a great, a great figurine if you want to call it. I proudly own two of them. But like I said last time, you need to have a whole set of these. You need to have Janet along with Ben. And you could probably go much deeper. Go all the way to what’s his name, Greenspan and Bernanke. And you could have Hank Paulson and you could even have the Jamie Dimon. The central bankers, I mean the commercial bankers. And I mean you could really run with this.

It could be fun. Yeah, be like Gi Joe finance. And by the way, we do have a list if anyone is interested in finding out more about that. When we do have details. That’s in the description field below, and we’ll keep you posted there. So, Andy, uh, with all of that Ben Bernanke silliness out of the way, um, before we wrap up anything that is on special for people who are looking to add to their gold and silver stacks. Yeah. For in the. In the heart of, or in the. In the spirit of a trillion dollar platinum coin, I have platinum maple leaves for only $80.

Are you selling trillion dollar platinum coins? Well, these aren’t trillion, but they are only $80 over spot for 1oz platinum coins. 1oz krugerrands at 60 over and 1oz silver philharmonics at 310 over spot are the specials today. But like I keep saying, I’m dead serious. Everything’s on sale right now. Everything is special. It has been, and for a while. Until it’s not. But it is still, and living on razor’s edge the way we are. It surprises me that things are as available as they are and premiums are as attractive as they are. So. 310 over spot for all the silver bugs out there on mint condition.

1oz silver. Austrian philharmonics. Sorry I’m giggling. I was thinking about the trillion dollar coin again. It’s just so wild. I mean, it’s like what? What? Distinct. I mean, if. I guess you shouldn’t put it in a roll, because what if you get it confused with the other ones? I mean, how to, like, do you. Oh, shit. I gave away the trillion dollar coin. You get like a case like it, like for it. Like Scrooge’s uncle Scrooge’s lucky dime. Or is it stored in the fed vault? And the whole thing is just stupid. It just seems funny to me to arbitrary.

It just goes to show the whole thing about money creation. You can arbitrarily say, okay, here’s a trillion dollars, and deem an asset is a trillion dollars, when nowhere else in the world would it be that it’s not fair, it’s not right. And I think it just underscores the stupidity of our administration, of our leadership, our bankers, and instead revalue gold and benefit everyone. You’ll have far less people bitching about it than you will about doing something dumb like that, which, in my opinion, would only destroy confidence in the dollar. Maybe I don’t understand it well either, but I’ll have to research it and see how they plan to get around that little hurdle where they can just declare that this can of almonds is now a trillion dollars.

We’re going to give a trillion dollars to the treasury because this is worth a trillion dollars. It’s nuts. But anyways, I digress. Well, while you’re doing that again, I’ll go mint up some silver coins for the audience. Everyone can trillion here, trillion there. Why not? So anyways, thanks for joining me, as always, to go through some of the interesting things happening in the financial markets and around planet Earth. And we will see what happens by next week. So nobody better than you, Chris. I look forward to it, and I’ll see you real soon, my man. Well, thank you, Andy, as always, for this week’s call.

It’s fun to catch up in the gold and silver news each week and hopefully enjoyed that at home. Thank you for watching and being a part of the show. And I, before we wrap up, I did want to mention that today’s episode was sponsored by Dolly Varden Silver, as they just had some great drill results out on Monday. And Sean Cuncken, who has been on the show several times before, stopped by and for a quick update of the drill results that they had there. Well, here’s Sean. The team’s done it again. They’ve stepped out 40 meters from the wolf vein and they’ve expanded it with an extremely high grade hit.

And what looks like it’s happening here, Chris, as we continue to chase this deposit down, plunge, grades and widths are intensifying. So it’s getting richer and it’s getting wider. It’s not uncommon for these high grade epithermal deposits to have a kilo of silver, but it’s typically over like half a meter, a third of a meter. Uh, it’s quite rare to have 1000 grams per ton over almost 10 meters. It’s truly spectacular. So really, really proud of the team. So we’ve been able to demonstrate a kilometer now of strike length. And so it’s been. Look, it’s. The numbers speak for themselves.

We’ve got high grade silver. We’ve got it up in a part of northwest BC that’s been producing gold and silver for the last hundred years. There’s been about 1.2 billionoz of silver discovered up in northwest BC in the golden triangle. And we’ve taken a past producing mine, one with a really rich history. It was the richest silver mine in the british empire, Canada’s third largest silver mine. We’ve taken that rich history and we have brought in a team, some capital, some good science, and we’re finding a lot more around the past producing mine. Sean, perhaps just before we wrap up, you can let folks know how they can find you if they’d like to get in contact and talk about silver projections or drilling results or anything else.

What is the best way to find you guys? So we’ve got a website, dolly vardensilver.com. we’ve got a toll free number, 800 321 8564. We’re on xilvervarden. Email us infoelyvarden.com. we’ve got a just like we have a team of scientists, we have a team on the communication side and happy to talk to shareholders with silver or other companies as well. Well, thank you to Sean, and we’ll have that full clip available tomorrow. Hope you’re having a great day out there, and we’ll see you then.
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