➡ The yen carry trade, a financial strategy where banks and hedge funds borrowed cheap yen, converted it into dollars, and invested in US assets, is collapsing. This is due to the Bank of Japan increasing interest rates, causing the yen’s value to surge and forcing these trades to unwind. This is causing instability in global financial systems, with stock markets fluctuating and bond yields increasing. Additionally, the physical silver market is showing signs of a severe shortage, and the price of silver is predicted to skyrocket.
➡ Financial panic has led to a spike in Japan’s government bond yield and a sell-off in the U.S. bond market. This has caused a global issue, with the U.S. treasury market struggling due to high deficits and reduced foreign demand. Amidst this chaos, silver is gaining value as a safe investment. A giveaway of physical silver is being organized to promote the Silver News Daily Telegram, a platform for discussions and insights about precious metals.
➡ Silver prices are rising rapidly due to increasing demand and a decrease in supply. This is caused by factors such as economic instability and a growing interest in silver as a strategic asset. The physical silver market is facing a supply crisis, with inventories falling drastically. This situation is causing concern among investors, who are buying and holding onto physical silver, further straining the supply.
➡ The global financial landscape is changing as silver disappears from institutional vaults and retail shelves, and Japan raises its interest rates. This shift is causing investors to rethink their strategies, potentially leading to falling prices. Meanwhile, BRICS nations are moving away from the US dollar, using a gold-backed system called M Bridge, which could lead to a rise in the value of silver. As these changes unfold, it’s important to buy from reputable dealers to avoid counterfeit coins and bars.
➡ Powerful financial institutions are buying gold as a safety measure due to increasing global economic instability. However, silver is also becoming a valuable asset due to its smaller market size and potential for high demand. This demand could drastically increase silver’s value, especially as physical silver becomes scarcer. The article suggests that this could lead to a significant reevaluation of silver’s worth in the financial world.

The selling pressure will trigger falling prices and these falling prices will start to really, really very quickly put some of these trades upside down. And this is how you get this unwinding, this spiraling. And I think we’re right there, right now because you know that this yen trade represents trillions globally and hundreds of billions of it sitting in the US stock market alone. I think leading into the end of the year could be some massive fireworks. You’re watching Silver News Daily. Subscribe for more. The 1.1 trillion yen carry trade isn’t just a financial strategy. It’s a ticking time bomb.

And it’s already started to detonate. For decades, global banks and hedge funds borrowed dirt cheap yen, flipped it into dollars and gorged themselves on US assets, all under the illusion that Japan’s zero rate party would never end. But now the bank of Japan has slammed the brakes. Interest rates are rising, the yen is violently surging, and trillions of dollars in leveraged trades are being forced to unwind in real time. As this monster trade collapses, the shockwaves are tearing through the global financial system. Stock markets are wobbling, bond yields are spiking and liquidity is vanishing. But here’s where it gets terrifying.

While the financial elite scramble to cover their losses, the physical silver market is flashing red. COMEX is in deep backwardation. A rare signal that silver available for immediate delivery is more expensive than future contracts. This doesn’t just happen, it screams of a catastrophic shortage. Inventories are vanishing. The disconnect between paper, silver and physical metal is exploding. And now, with BRICS nations activating their gold backed M bridge payment system to sidestep the dollar, a perfect storm is forming. When this chain reaction hits full force, silver isn’t just going to rise, it’s going to detonate past $500. And it will happen faster than anyone is ready.

For the chief Analyst of Bank of America. They’re talking to people above, not the successful money managers who are managing $3 billion and are at the top of their game on retail. They’re talking to the people who are bringing in all the metal into the United States. They’re talking to the massive traders that are doing so. And they’re saying gold and silver are being, in essence, by their actions reintegrated into the system. To me that, that caught my attention. So don’t pay attention to what they’re saying, pay attention to what they’re doing, unless you’re listening to the very, very top analysts who are speaking to the institutional traders.

One other thing that caught my attention was The Ethereum Ethereum, excuse me, Ethereum founder Vitalik Buterin. Now I’m butchering that, butchering that name. But it’s interesting because he was giving a speech the other day and he says, he says they’ve highlighted quantum resistance as a key element of the network’s long term roadmap. He says this comes amid a risk of quantum computing advances that could potentially undermine current cryptographic systems. Ethereum raises go to quantum safe. Speaking at de DevConnect conference in Buenos Aires, he says the roadmap for Ethereum includes goals for the next two years. Warned that cryptography securing Ethereum and Bitcoin could be vulnerable to quantum computing breakthroughs by 2028.

And it’s interesting to me that the guy that designed Ethereum is saying that quantum computing can do this. And he was inspired to say this because the test was conducted by Google Quantum AI using their Willow quantum processor. We’ve talked about the Willow chip caught my attention about two years ago. And you know, Google previously stated that the Willow chip could do in under five minutes what the world’s fastest supercomputer could do in 10 septillion years. Now I didn’t even know what that meant. It’s 10 to the 25th power. And so when you talk about reasons to, you know, I think more than ever to consider having something outside the matrix, outside the system.

You got the guy that developed Ethereum where it seems like everything trades on the Ethereum network. All of these, all of the, it’s the rails of so many of the crypto tokens and really the rails of the entire system. Much of it anyway goes to show how naive I am with cryptocurrency. But the point of it is, is that when you get the guy that is the designer saying that within two years you could see problems or the ability of quantum computing to hack and, or steal Bitcoin and Ethereum. I found it to be very, very concerning and interesting.

These things you don’t hear about in the mainstream. But whatever. Nonetheless, I think that’s really about it other than, you know, we, we also talked a little bit. Well, I think we should talk about one last thing and that is I don’t think we talked enough about the, the carry trade. Right. And, and I want people to understand the scale of what’s unfolding. We need to break down the heart of the problem. The yen carry trade. For most people this sounds like financial jargon, but it’s actually one of the most dangerous leverage schemes in the global economy.

Here’s how it works. For decades, Japan kept its interest rates near or below zero, making it incredibly cheap for big institutions to borrow yen. Investors would then convert that borrowed yen into dollars and use the proceeds to buy higher yielding assets like U.S. treasuries, stocks or even emerging market debt. On paper, it was free money. Borrow low, earn, earn high. But underneath the surface, this trade created a multi trillion dollar web of interconnected positions, all hinging on one dangerous assumption, that Japan would never raise rates and the Yen would remain weak. And that’s where everything started to unravel.

In March 2024, the bank of Japan shocked the world by ending its negative interest rate policy. This wasn’t just a policy tweak, it was a seismic shift. Suddenly, the cost of borrowing yen started to rise and the entire foundation of the carry trade began to crack. Investors who had leveraged up for years now faced margin calls. To cover those losses, they began dumping the very assets they’d been holding. U.S. treasuries, stocks and corporate bonds. This isn’t a slow unwind, it’s a fire sale. And as these positions get liquidated, it sets off a chain reaction across global markets.

The unwinding of this $1.1 trillion trade isn’t just financial noise. It’s the detonation of a global time bomb that could take down everything from equity markets to banking systems. But it gets worse. Because this wave of forced selling is now colliding with one of the tightest silver markets in modern history. Significance of that, in order to take gold out of China, it has to come out of Hong Kong. So the first one was built in Hong Kong. So in an example like this, the UAE could sell oil as an example to China, China for the digital Y1 over Enbridge, which settles in seven seconds, 98% reduction in fees.

No US or Western intermediary banks, no Swift. And then they can settle imbalances in gold first without converting into dollars and take possession in Hong Kong. And of course the second vault is under construction or will be very shortly in Hong Kong, Saudi Arabia. This is where it is heading and I think that’s a important piece. Couple other things I noticed. Ubs. And again, these banks are so full of BS at ubs, they’re all full of it because they continue to raise their, their price targets and their price targets are as useful as a mud wall because they’ve been wrong continuously yet.

Okay, fine. And they acquiesce and raise it. So now UBS says well you know, we’re going to raise our mid year price target to 4,500. Previously 4,200. Well, geez, thanks. I think that these banks that continue to raise their targets, if you go back and look what they were a year or two ago, it’s almost kind of laughable. A lot of people will talk about it. I don’t even think it really bears much consideration at all. They, they really don’t want people to know what their real belief is. And that’s why you have, you know, it’s funny because I have a, I have an account with Morgan Stanley and the guy that I work with, he’s a very good friend of mine and he manages, you know, a lot of money with Morgan Stanley is one of the biggest in Florida and he lives in my neighborhood.

And he wouldn’t know a gold coin if it fell on his foot. Yet his chief investment officer has advocated for 20% holdings in gold. Sell half your bonds. And so, you know, it’s, it’s, to me, these banks and the people who work underneath them really have no clue. But when you’re getting. Michael Hartnett, when you’re getting again, another comment from Jeffrey Gundlach, the bond king, saying that 25% gold is not overweight. And then of course, Michael Hartnett, as we’ve talked about, these are. He’s a c. The fuse that was lit back in March didn’t just fizzle.

It’s now burning faster than anyone expected. In October 2024, the bank of Japan doubled down, hiking rates again and sending a clear message. The days of free money are over. Almost overnight, the yen snapped back with ferocity, surging from over 160 to the dollar to the mid-150s and triggering waves of panic across the financial system. Institutions caught on the wrong side of the trade scrambled to unwind their positions. But the damage was already spreading. Japan’s 40 year government bond yield spiked to their highest levels in over a decade, sending shudders through the derivative markets tied to long term interest rates.

Meanwhile, Japanese insurers and pension funds who for years quietly hoarded U.S. assets, began dumping Treasuries to hedge their currency exposure, accelerating the sell off in America’s already fragile bond market. This wasn’t just a Japanese problem anymore, it was a global contagion. The US treasury market, already reeling from historic deficits and fading foreign demand, suddenly found itself drowning in unwanted paper. Yields shot up, liquidity dried up, and across the banking sector, stress signals started flashing red. But while most eyes were glued to the volatility in bonds and equities, all, another market began to move in a very different way.

Silver. Unlike tech stocks or long duration bonds, silver thrives in moments of chaos. It doesn’t just reflect monetary stress, it absorbs it. And in this environment, with carry trades collapsing and safe havens in high demand, silver is being rediscovered not just as a metal, but as a monetary lifeboat. The pressure is building, and as capital begins to flee risk, it’s starting to flow toward the one place that still has truth written into its weight. Physical metal. Just before we get going, we just launched the official Silver News Daily Telegram. To kick things off, we’re running a 10 ounce silver giveaway.

Yes, real physical silver. Not a voucher, not digital credits, actual bullion. This telegram will be our new home for real time silver discussions, market insights, collection picks and everything precious metals. It’s where the community truly comes alive. Here’s how to enter the 10 ounce silver giveaway. Be subscribed to Silver News Daily on YouTube. Turn on the notification bell comment 10 ounce giveaway on three separate videos. Be an active member of the Telegram group and say hi. Once we hit 500 Active Telegram members, we’ll pick one lucky winner to receive 10 ounces of silver shipped directly to you.

So get in early, stay active. Monday we’re doing this Monday before Thanksgiving. We have the Comex options expiration in both gold and silver. And then tomorrow is the big day as far as I’m concerned. It’s the large traders that are or are not standing for delivery in their December contract and if they’re not, they have to roll over their contracts or sell them which keeps them as futures contracts of course and if not, they’re going to stand for delivery. And I think this is one of the big deals when you see silver in backwardation still meaning that the cost of silver today is worth more than it is out into the future.

It’s supposed to be opposite of that tells you that there’s stress and strain within the market itself and that there’s a greater demand for physical metal than there are is for the paper contracts that stand behind them. And this is what we’ve talked about for quite some time now. It started to really come to fruition and this is a big one here. This December contract is certainly a big one. A couple other things that caught my attention over the weekend done again. One of which we talked about, I don’t know if I talked about on your show, but talked a little bit about on others, was that the Enbridge, which is kind of up from the shadows over the last several years, the information that I would use or find to talk about the bricks was easier to find than it is now.

It’s kind of in the fog right now, if you will. And I think that’s by design. They’re keeping it quiet so as to not attract the attention of this administration and draw the, you know, the cross eyed look of President Trump. And one of the things, however that did come to light was that uae, United Barrack Emirates and China conducted another successful test of Enbridge. A real time test for those people that don’t remember, Enbridge is the cross border payment system that was designed by China, Hong Kong, Thailand, UAE and of course the fifth full participant who came in a little bit later, Saudi Arabia.

They’re the big five. Originally designed with the assistance of the BIS innovation hub. We talk how that went sideways when the BIS pulled out at the 12th hour. But one of the things that I find interesting and I don’t think should be overlooked is this first trade was between China and uae. Well, I don’t think it should be overlooked that China, Hong Kong and the UAE all run advanced precious metals markets where gold is traded in local currencies. And this enables Enbridge members to convert trade surpluses, as we’ve talked about, directly into gold. And this bypasses the dollar entirely.

This is the ultimate plan with the Shanghai Metals Exchange expansion of their vaulting system, the one that was just completed in Hong Kong. As the yen carry trade collapse tightens its grip, its ripple effects are hammering straight into the heart of the U.S. bond market. And it’s here where the next domino is already toppling. The United States is buried under over $2 trillion in annual deficits. And foreign buyers, especially Japan, the largest holder of U.S. treasuries, are pulling back hard. Why? Because they’re being forced to sell just to stay afloat. Japanese institutions aren’t just hedging against a volatile yen, they’re dumping treasuries en masse to unwind their exposure.

And this is happening at the worst possible time. Throughout Q3 and Q4 of 2024, treasury auctions for 10 year and 30 year bonds have been flashing warning signs. Weak bid to cover ratios, massive tail events and lukewarm demand from the primary dealers. Investors are spooked. Long term yields have stubbornly hovered between 4.2% and 4.8%. Despite the federal Reserve quietly beginning a new rate cutting cycle. The market is no longer listening to the Fed. It’s reacting to raw unchecked supply and the brutal reality that the US Government is running out of willing lenders. And here’s the kicker.

If yields keep rising, the cost to service America’s debt becomes unmanageable, risking a full blown credit spiral. At this point, the Fed is cornered, cut rates aggressively and they stoke inflation. Do nothing and the bond market disintegrates. The only real solution left is the most direct intervention, potentially yield curve control or another round of quantitative easing. But those moves come at a cost confidence. And once confidence is broken, investors run, not walk, toward hard assets. This is exactly the environment silver was built for. As the system strains under the weight of its own leverage, silver isn’t just a hedge, it’s becoming the escape valve.

And as trust in paper markets erodes, that escape valve is being pulled wide open in terms of the amount that he manages. And he wouldn’t know gold coin if it fell on his foot. We talk about it all the time. Yeah, he’s okay, fine, but he doesn’t implement it at all. And his chief investment officer says no, 20% should be in metals. The point of it is that when you have these beliefs and these feelings about being a contrarian, it’s something that takes, not only conviction, but it takes effort to make sure that your beliefs are right.

And that’s why so few people do it. Not again. Because it’s an inordinate amount of time and effort and, you know, trust in yourself that you’re right. So that’s why, you know, I think what you and I do, and when we talk about this to people, that carries a lot of responsibility. And that’s why when people say you’re talking your book, now that’s not true. In a world where I’m out there talking to millions of people, I’m not talking my book, I’m talking my heart and my soul. What I truly do believe I have better things to do than talk my book and, you know, bastardize my family name by, by going ahead and doing something like this that I wouldn’t believe in or wouldn’t recommend to my friends and family to do.

So I do the work for you, I do the reading for you. And if you choose to follow it, understand that I’m only going by what I believe and, and what I do myself. So I don’t know what brought me down that, that lane. But other than to simply say that I think most people don’t succeed in investing because they able to separate themselves A, from the herd and B, doing the effort and taking the time, doing the effort and the work involved with formulating your own opinion. And that’s a Scary thing to do for most people.

When chaos grips the system, money moves differently. It doesn’t chase growth, it flees to safety. And right now, as markets convulse under the weight of rising yields, soaring deficits, and central bank confusion, capital is stampeding toward tangible assets. Gold is already breaking out. But silver. Silver is the sleeper, the slingshot, the overlooked giant that always lags until it doesn’t. Because when silver moves, it doesn’t climb. It erupts. History has proven it. In 1980, as inflation spiraled and trust in fiat currencies crumbled, gold soared. But silver skyrocketed from under $6 to nearly $50 in a matter of months.

In 2011, we saw it again. Gold approached $1900. Silver exploded from $9 to nearly $50, outpacing gold’s gains by a massive margin. Why? Because silver is gold’s shadow, trailing behind in calm times, but violently outpacing it when panic takes hold. And that panic is setting in again. This time, it’s not just inflation or monetary easing its structural instability. A decaying bond market collapsing carry trades and geopolitical fragmentation are converging into a once in a generation storm. And unlike past bull markets, silver today is facing a whole new level of demand. Institutional money is waking up. Sovereign wealth funds, pension managers, even family offices are beginning to see silver not just as a commodity, but as a strategic asset in an unraveling world.

ETFs are piling in. Derivative volume is swelling. But beneath it all, the real story isn’t in the paper, it’s in the physical. Because just as the monetary storm reaches a fever pitch, the silver market is facing a supply side crisis unlike anything we’ve seen before. The COMEX is sounding the alarm. The numbers don’t lie. And what they’re telling us is that the breakout isn’t just coming, it’s already begun. I mean, because in order to do what Rick is saying, which is true, that’s the whole thing we learned as little kids, buy low, sell high, is that buying low takes not only conviction, which is hard enough to muster up when you’re out alone from the crowd, but it also takes the time to analyze and build the conviction.

Right? So if everyone’s saying you’re an idiot, why would you do that? Well, you better be well read and educated on your, your position or you’re just throwing money away if you just buy something undervalued without understanding it. The point of it is, is that most people don’t want to take the time to, to Protect their money the way that the, the way they do and the amount of time that they put towards earning their money, if people put just half as much effort into keeping it and saving it and preserving it as they did making it, they’d be a lot better off.

And that’s the problem, is that the people who understand this understand it better than their financial advisors do. Because why accept information from a very, very polished financial advisor if the financial advisor looks at the world diametrically opposed to the way you do? In other words, if you believe that there is something coming for whatever that is, if you believe the dollar’s in trouble, the markets are in trouble geopolitically, whatever it may be, and the people that are managing your money don’t, isn’t that a conflict of interest? Isn’t that silly? Because isn’t what you’re seeing globally macro big picture? Isn’t that really more important really in the scheme of things as to how it affects the markets? And so that’s the frustration that I face all these years when the mainstream poo poos it.

But you look back at it and we’ve destroyed the mainstream, right? Gold and silver have been beat the mainstream for all of these years and they won’t even acquiesce or say you’re crazy. But wait, alas, you’re getting at the highest level, 20, 25%. That’s good, right? They never even gave in 5%. But that hasn’t trickled down to the advisories yet. Like I said, my friend who is is, he’s in the Forbes Top 50 Money Managers in the United States. The paper market is cracking and the COMEX is ground zero. Right now, silver futures are flashing a signal so rare and so alarming that only seasoned metals traders truly understand its implications.

Backwardation. When the spot price of silver trades higher than the futures price, it’s not just a technical anomaly, it’s a blaring siren that something is deeply wrong with supply. And that’s exactly what we’re seeing now. As of late 2024, COMEX inventories have plunged to multi year lows, with registered silver falling to just 35 to 40 million ounces, down from over 120 million ounces just a year prior. That’s not a drawdown, that’s a collapse. This kind of inventory freefall doesn’t happen in isolation. It’s a result of persistent physical demand that’s stripping the exchange bare. And when you combine that with backwardation, you get the most dangerous cocktail in the precious metals market.

A physical Delivery crisis. Traders are rushing to take delivery instead of rolling their contracts forward. And that only deepens the pressure on comex vaults. The December 2024 contract has already witnessed increased tension, with fears mounting over whether sellers will even be able to deliver on time. If this pattern continues, we could witness an unprecedented decoupling between the paper and physical markets where futures prices no longer reflect the real world value of actual silver. But here’s the part that should make every investor sit up straight. When a futures market like comex starts showing signs of physical stress, it’s often too late for average buyers to act.

The professionals are already moving. The smart money is already pulling metal out. And retail investors still trusting spot prices and ETF tickers are being left behind. This isn’t just about price anymore, it’s about availability. When silver enters full blown backwardation, the message is clear. The metal is worth more today than it will be tomorrow because there might not be any left to buy. And so at some point the Japanese will say, geez, you know, we can buy our own bonds instead of getting. And the 30 year treasury is what, barely 4%? Right around 4, yeah, US.

And when you figure in the fees and everything for switching, it doesn’t make sense anymore. There’s 1.1 trillion in US treasuries that Japanese own. And so they’re going to have to liquidate them to, to keep their accounts from blowing up, which pushes our rates up. And that’s why the Fed keeps talking about, you know, they’ve lowered rates but the ten year Treasury’s not moving. Why? Because they’re strained. The rest of the world is selling Treasuries and when our largest creditor, Japan, decides to do this, and they have no choice but to do it and unwind what amounts to the greatest piggy bank that the world has ever seen.

And part of this distortion, you know, We’ve talked about U.S. interest rates, but you could argue a 0%. For 30 years, nearly interest rates in Japan has been the greatest distortion. Where you borrow it, zero take the proceeds and buy things at higher levels. But all it’s unnatural. It’s unnatural because the money borrowed at zero is unnatural, which then flooded into our equity markets, our crypto markets, our bond market. And the unwinding of that is, is, is very dangerous. It’s like, you know, a balloon that’s had constant air blowing into it and all of a sudden there’s a little tiny hole that.

But the amount of air blowing in keeps it inflated. You pull that out and the whole thing could potentially collapse. I don’t want to say that’s what’s going to happen, but it’s that real. It is that real. When you talk about what valuations are based upon taking that, that continuous injection of liquidity and speculative liquidity into our markets, pulling it out, it’s something people should pay very close attention to into the end of the year, especially into the next meeting in Japan where they are, I think there’s a better than likely chance that they’re going to raise rates again.

They have to defend their own country and have to kind of let go of that peg that has enabled the United States and many emerging markets to experience a boon that wasn’t natural. And Mother Nature always gets her pound of flesh in the end. While Comex inventories drain from the top, something just as powerful is happening at the bottom. The retail market is quietly pulling the rug out from under the entire silver supply chain. We’re not talking about traders flipping contracts or hedge funds hedging portfolios. This is grassroots demand. Everyday investors, coin collectors and hard asset savers are buying physical silver with an intensity that never lets up, even during price pullbacks.

And it’s not just a trickle, it’s a constant wave. In 2024 alone, U.S. mint sales of American Silver Eagles hit nearly 18 million ounces by October. That kind of demand acts like a slow bleed on the wholesale supply. Even as premiums have cooled slightly from their 2023 extremes, major bullion dealers are still reporting extended delivery times and shortages on popular products. When premiums were surging above 20%, it showed a complete disconnect between the futures market and physical availability. Now, even with premiums in the 8 to 12% range, buyers haven’t backed off, they’ve just adapted. Promotions like at Spot or under Spot are used to spark even more buying.

And every wave of demand drains more metal out of the system. This is what analysts call strong hands buying. Investors who don’t sell on dips, don’t trade on margin, and aren’t flipping coins for profit. These are long term holders stacking physical ounces and taking delivery. They’re immune to market noise and immune to price corrections. And that’s what makes this type of demand so dangerous to a system built on leverage. Because unlike speculative money, these buyers aren’t putting silver back into circulation. They’re removing it permanently. Every bar shipped, every coin stored in a safe is another ounce that won’t be there when the next Comex contract goes into delivery.

And with registered inventories already scraping the bottom, this retail driven Supply bleed is like death by a thousand cuts. It’s slow, it’s quiet, but it’s relentless. And when the breaking point comes, it will be the retail crowd, not the institutions who already hold the metal. To understand just how significant this carry trade truly is, because for years the world was able to borrow a Japanese yen at 0% interest rates. So investors would borrow the yen in trillions of dollars. It’s the biggest trade in terms of arbitrage that the world has ever seen. For a very long time, Japan kept interest rates at zero, and investors would borrow cheap yen and then they convert it into dollars, and they use that money to buy US Stocks and bonds or emerging market assets or whatever they wanted in Europe or wherever, and whatever they earned in dividends and interest, these gains were pure profit because the loan cost them nothing.

But now Japan has raised interest rates and their currency is, you know, the rates and the value of the dollar. Strengthening the trade has become uneconomical. You have 1.1 trillion in Japanese pension funds that are sitting there now, in essence, in a trade that doesn’t make sense. And what’s interesting is that in order to now that the yen is strengthened, in order to convert back, they would have to buy yen at a higher rate when they bought it at the low, at a lower rate. And as they liquidate bonds in the United States, the Treasuries that they’re holding, 1 trillion of them to bring it home to cover these positions, not only will interest rates go up here in the States, but all of that money going into the yen will push the yen up higher.

And now you have a big, big problem. It’s systemic. It’s a chain reaction. And what the higher rates can do to this economy and all of that money that is poured into Treasuries and crypto and into equities is now beginning to unwind. And I think it’s something people need to understand that the selling pressure will trigger falling prices. And these falling prices, I think will, will start to really, really very quickly put some of these trades upside down. And this is how you get this unwinding, this spiraling. And I think we’re right there right now because you know that this yen trade represents trillions globally and hundreds of billions of it sitting in the US Stock market alone.

So I think people should watch this very closely. Their next meeting is coming up in December, and a lot of people think that they’re going to raise rates again. And if that’s the case, you know, I think leading into the end of the year could be some massive fireworks. So those are the couple of things that I saw that caught my attention and happy to take it. As silver vanishes from both institutional vaults and retail shelves, another tectonic shift is reshaping the global monetary landscape. And it’s happening almost entirely under the radar. BRICS nations are no longer just talking about de dollarization, they’re executing it.

And at the center of this move is M Bridge, a gold backed cross border settlement system that threatens to upend the very foundation of global finance. Developed by China, Hong Kong, the UAE and Thai Aitab island, with support from the bank for International Settlements, Enbridge has officially entered its minimum viable product stage. That means it’s no longer theory, it’s active, tested, and on the verge of real world deployment. This changes everything. For over half a century, the US Dollar has been the undisputed king of global trade. Not because of inherent strength, but because there was no alternative.

That monopoly is cracking. By facilitating transactions in local currencies or potentially gold, Enbridge offers BRICS members a way to bypass the dollar entirely. No more swift restrictions, no more dollar reserves, no more reliance on western financial infrastructure. This is a seismic shift. And while most headlines focus on gold, silver is quietly poised to benefit in ways few are discussing. Why? Because monetary shifts never happen in isolation. When central banks and sovereign nations start rethinking their reserve assets. The spotlight may begin with gold, but it doesn’t end there. Silver, long considered the poor man’s gold, carries similar monetary properties with even greater upside potential.

And here’s where it gets interesting. If M Bridge succeeds, it doesn’t just chip away at dollar dominance. It accelerates the global race toward real assets. Countries that no longer need dollars won’t want dollar based debt or dollar backed paper promises. They’ll want physical reserves, tangible wealth, metal in vaults. The world is pivoting slowly but decisively toward a multipolar monetary system. And in that system, trust is no longer placed in fiat, but in physical. As BRICS scales and bridge and global confidence in Western finance continues to erode, silver stands to gain not just from investor demand, but from monetary relevance.

And when that shift happens, it won’t be gradual. It will be a repricing event. One that resets everything. You just have to buy from a reputable dealer, period. I mean, the machinery that we use is expensive. I haven’t looked online. I’m sure there are some that you can buy that are if you’re gonna, you know, really start to go down this road or have a lot and questioning it. You can, sure, you can buy some sort of machinery that I don’t know how much it costs, but there are ways to check it. But if you look, first of all, gold and silver are very hard to mimic if, if they’re in your hand.

I mean they are in, in coin form. It’s one of the reasons to buy coins. You’d have to be one hell of a metallurgist to hollow something out and make it look real and it wouldn’t feel real. And so I think that’s why gold has been money for so long. It’s very difficult to mimic. Now you could say tungsten has similar properties, but in a 400 ounce gold bar, okay, you can drill it and hollow it out, but 1oz gold coin’s not the case. You never really hear about coins being fake as much as you do bars.

And that has a lot to do with counterfeiting laws. You get caught with those and it’s a whole different deal. It’s legal tender. You’re messing with the treasury of the United States or of these countries. Easier to do a bar and there are videos out there of Pamp Swiss 10 ounce fake bars. In the jewelry district we don’t really see much in the way of fakes, although we do have the high tech machinery to check it if we need to. Coming in from the secondary market or other dealers you had mentioned to me off camera. What about the numismatics? Now it’s a little bit harder because they’re certified.

One of the first things to do is you can go to PCGS or NGC and type in the serial number on the coin that you own. And it has a registry on their websites. You can see indeed that it is. Now I guess if it were really sophisticated, I don’t know how they would copy those or find those numbers and be able to put coins in them that represent that. I guess they could. But look, this is why you buy from reputable companies and don’t be penny wise and pound foolish because it’s very important that what you buy is real.

And if, you know, like I’ll read, I don’t remember what platform I was on, I think it’s X or something. And all of a sudden I get this thing that pops up and says you can buy a complete date set of the Silver eagles and they’re 39 a piece and they’re in, you know, proof condition or something. And they look at the ad I scoured. It looks so real, right? But I’d buy every one they had if that were real. But people, unsuspected people will buy that stuff because they should be a lot more than that.

And at 39, you’re not even just 2/3 of the way to spot, let alone the value of some of the older dates and in proof. So it’s a fair question. I don’t know what the machinery costs would be on on a place like Amazon or something. It’s worth looking. Just buy from reputable companies. It’s not just Miles Franklin that’s reputable. There are a lot of good ones out there. And buy from a reputable company and you won’t have those issues. That’s the the easiest answer I can give you. And there will be some fakes out there.

So you know, if the deal is too good to be true, it is. Just stay away from it. While most of the world still clings to fiat illusions, the central banks are moving like they’ve seen the writing on the wall. And they have. For the past 18 consecutive months, China has added to its official gold reserves, pushing global central bank gold buying to historic highs. Poland, Singapore, India, they’re all stockpiling at a blistering pace. But ask why would the world’s most powerful monetary institutions be hoarding gold at record levels if everything was fine? The answer is they know the game is changing.

The dollar’s reign is faltering, the debt spiral is accelerating, and the need for real, uncorrelated assets has never been greater. Gold is their hedge, Gold is their vote of no confidence in the system they once helped build. But here’s the part no one is talking. Silver’s time is coming. Central banks aren’t buying silver yet, not officially, but the conditions are being laid brick by brick. The same forces driving record gold accumulation, de dollarization, inflation, risk, sovereign distrust are even more explosive for silver. Why? Because silver’s market is tiny, a mere fraction of gold’s. It wouldn’t take much for institutional demand to send silver into parabolic motion.

And while central banks are quietly repositioning with gold, retail and private investors are already cornering physical silver from the ground up. If silver is gold’s shadow, then the footsteps are already echoing. The mechanisms are aligning. A collapsing paper market, strained inventories, surging retail demand, and a global shift toward asset backed monetary systems. All that’s missing is the spark, the moment when silver’s monetary potential is no longer hypothetical, but critical. And once central banks catch up, once even a small number begin to consider silver as part of their long term hedge, it won’t Be a bull run.

It’ll be a repricing one that leaves today’s prices looking like rounding errors. Why? I’ve been so close with Rick all these years too. You know, I’ve seen it with my own eyes and he’s done a lot for me as a, as a, as a businessman, and I’ve learned a lot from him. It just as someone trying to gather information. And he’s authentic. You know, at these conferences I go to, I’m not kidding you, he is the first there and the last one to leave. And this is a guy who doesn’t need to be there. He does his talks at most of the shows.

He is the very first one to talk in the morning, sometimes as early as 7am or earlier, because the people that get up and go there are the ones that are serious and. But he’s there and he’s got more Energy at 70 plus years old than the people, most of the people combined in the audience. And then he stays there till the end. And I became friends with the brokers at Sprott along the way. And it’s funny, you know, we’d have these conferences in Vegas and they’re young guys, they’d go out and party and they’d come back and they’d be like, oh, no, Rick is here today.

And they would be sitting, you know, lovingly, because they knew they had to be there before the sun came up, and they knew they would be there until the sun went down. And that’s, that’s, that’s a testament to a guy like Rick. And, you know, I, I say that out of respect, but he’s earned it. And to your point, he spends the time and he doesn’t need to do it anymore, but he does. And I think that’s very telling. The stage is set for silver’s most violent repricing in history. And at the heart of it lies a truth that Wall street has spent decades trying to bury.

Silver’s price isn’t just undervalued, it’s suppressed. For years, a complex web of short positions, derivative contracts, and synthetic supply has kept silver trapped beneath its true value. But the system is breaking. Comex inventories are imploding. Backwardation is flashing, and the physical market is draining faster than anyone can replenish it. This is no longer about potential. It’s about pressure. And pressure always finds release. The coming silver short squeeze won’t look like anything we’ve seen before. This isn’t Gamestop. This is systemic. The paper silver market, where billions of ounces are traded daily without a single bar ever changing hands is being exposed.

And when just a fraction of those holders demand delivery, there won’t be enough metal to go around. Not even close. Analysts like Ted Butler have warned about this for years. The ratio of silver traded on paper to silver available for delivery is grotesquely distorted. And now, with retail investors, mints, and industrial consumers all pulling from the same shrinking pool, that distortion is approaching its breaking point. Here’s what happens. As availability dries up, premiums explode, spot prices disconnect from reality, dealers go out of stock, ETFs, struggle to source metal, and eventually the price suppression game collapses under its own weight.

What follows isn’t a rally. It’s a repricing event, the kind that launches silver not to $30 or $50, but to levels that force the financial world to reevaluate everything they thought they knew about the metal. Because once confidence in paper silver evaporates, only the physical will matter. And when that moment comes, the scramble won’t be polite. It will be a global rush into the smallest major market on the planet. And silver, long ignored and manipulated, will finally be free. They think that these companies then are completely inept. And are they doing it because they’re inept or are they doing it because they’re dishonest? And that’s another issue.

This is, you know, look, when I moved to Florida, I could have brought Miles Franklin corporate office to Florida too. We’ve had an office in Florida for almost 20 years, a satellite office. But I left corporate there because we’re held to a higher standard, because we’re licensed and bonded. That’s what differentiates Miles Franklin from the competition is simply in a world where gold is gold is gold wherever you buy it, right? It’s the same thing. It’s homogenous. But were licensed, bonded and background checked held to a higher standard in the state of Minnesota, the only state that does it, most companies won’t do business in Minnesota because of this licensing and bonding.

And so when you bring your coins to a coin dealer and he says, yeah, they’re fake, is he trying to rip you off or is he just inept? I don’t know. But it just goes to show that working with a company that is legitimate, I think is the only way to do business in this industry. And it’s funny because this industry too often lends itself two people being pennywise and pound foolish, either in form or with companies that their only determining factor is price. And that’s never a good idea, especially when we can usually match or beat just about anybody.

It should be about reputation and in our case, accreditation. So people don’t need to worry about that stuff. Silver isn’t just reacting to chaos, it’s being catapulted by it. The perfect storm is no longer forming. It’s here. A 1.1 trillion yen carry trade is unwinding in real time, flooding global markets with forced selling and sending yields surging. Japan is dumping treasuries, the US bond market is breaking, central banks are hedging with gold. And the COMEX silver market, it’s running on fumes. Registered inventories are scraping multi year lows, backwardation is flashing red and physical silver is vanishing into the vaults of investors who see what’s coming.

Add to that the rise of the BRICS gold backed M bridge system and the acceleration of de dollarization and the message couldn’t be clearer. Trust in fiat is evaporating and only real assets will survive the reset. This isn’t just about speculation, it’s about survival. As institutions scramble for liquidity and confidence craters, silver is emerging from the shadows. Not as a commodity, but as a monetary juggernaut. A hard asset with a fuse already lit. All the forces we’ve explored, monetary panic, physical shortage, systemic unwind. They’re converging on a metal with a microscopic market and a history of explosive catch up moves.

The breakout isn’t coming, it’s happening. And when it rips, Silver’s move past 500 won’t be gradual, it will be vertical. If you’ve been waiting for a signal, this is it. Make sure to subscribe if you want to stay ahead of the financial reset. And remember, this isn’t financial advice. Speak to a licensed professional before making any investment decisions. Sam.
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