➡ Rafi from the Endgame Investor had a chat with John Lee of Silver Elephant, a small silver mining company in Bolivia. They discussed the nature of currency, with Rafi disagreeing with John’s view that currency is a token issued by leaders, instead believing it’s a derivative of existing money like gold and silver. They also talked about the impact of political ideologies on money printing and global stability, suggesting that both Democrats and Republicans have positive and negative effects on gold. Lastly, they touched on the potential de-escalation of the China-Taiwan situation under a Republican administration.
➡ The text discusses the concept of money printing and its distribution, suggesting it’s often done unfairly and can lead to economic collapse. It also touches on the decline of marriage rates globally and the rising interest in gold as a safe investment among younger generations. The text further discusses the underperformance of mining companies and the potential for a resurgence in gold’s value. Lastly, it questions the understanding of these economic issues among the average Chinese citizen.
➡ Gold and silver markets are heavily controlled, affecting their prices and dividends. Gold and silver mining companies are risky due to their depleting assets and volatility. Despite this, they can be a good investment when bought at the right time. The investors in these companies are different from those investing in physical gold and silver, and there’s little overlap between the two groups.
➡ The speaker discusses the dynamics of silver trading, attributing its underperformance to China’s financial crisis. They believe silver will eventually catch up to gold, despite current market pressures. They also discuss their silver mining company, Silver Elephant, which is a cash flow producing company with a vast resource to be explored. The speaker predicts that gold will rise by at least $400 this year and that silver will break out, but the exact height of its rise is uncertain.
➡ The demand for silver is expected to rise due to its use in various industries like television, medical robotics, and solar panels. This could lead to a situation where not only speculators but also industrial users start buying silver. However, it’s advised to invest in physical silver or silver mining companies rather than relying on ETFs or paper markets, as these can be manipulated. The speaker suggests that the shift towards physical silver could lead to a more accurate reflection of its true value.

Hey, guys. Raf here from the endgame investor. I just had a great conversation with John Lee of Silver Elephant. It is a small silver miner with a mine that is on the verge of production in Bolivia. I just wanted to clarify that at the end of the interview, John Lee says something about currencies being a token distributed by the leader or the sovereign of a society, the king or what have you. I didn’t mention this while I was talking with him because I wanted him to complete his point. But I just wanted to say that I respectfully disagree with John Lee about currency being a token.

I believe that currency is really a derivative of an existing money, which is gold and silver. And all that kings or sovereigns can do for their society or to their society is to issue derivatives of an existing money rather than issue tokens ex nihilo out of nothing. This is just an academic point. John Lee, I think, is very knowledgeable in his industry and he knows a lot about money and mining. I know less about mining. So he should fill you in on that data whether or not you are interested in his company. Silver elephant symbol e l e F in Toronto or.

Or s I L e f on the. Over the counter in the US. The conversation is very interesting in either way. And I hope you enjoy this interview with John Lee. Money printing is stealing. And so when. When Democrats steal money, they only like to give it to people who are very close to them ideologically. Exactly. And like, let’s say like an 80 to 90 level of insanity on a level on, you know, on a scale of one to 100. Whereas when republicans steal money in print, they distribute it a little bit more evenly to people who are between 31 hundred.

Insanity. And while the rest of us just try to stay out of it and stay out of their way and wait for everything to collapse. You got it. Hey, guys, Rafi here from the endgame investor. I’ve got John Lee on the line. He is CEO of Silver Elephant and he is in Mongolia right now, not too far from me in Israel. So if you’ve never witnessed an interview between Mongolia and Israel, well, now is your opportunity. You can tell all your friends about it. They’ll be very excited. So let’s get going with John Lee. John, how are you doing? Well, it’ll be good afternoon for you or early mid morning.

Glad to be on your show. 03:00 03:00 I’m a big fan of yours and I watched a couple of your channels, so I’m glad we got to connect the first time. Yeah, good. I like your shirt, too. I ran other shirts. So did I. Mine’s in the laundry. All right, so you wanted to talk about just the craziness of the movie that is planet earth and everything that is going on and how it affects the silver market. Really, everything has gotten so insane. I don’t really know what is part of the script and who are the actors and who are the directors and who are the extras and who just has no idea what’s going on anymore.

This all just seems like a big, bad movie directed by some guy on crack or something, and I can’t really make it out anymore. What do you think is going on? Where does silver fit in? And at the end, we’ll get a little bit into your company. Silver elephant. I know that’s a very broad question, but really, everything is so crazy right now that I don’t really know what else to say. Yeah, Rafi. I traveled 47 countries and lived in three different continents. In North America, in Asia, and also in South America. The world is really run not so much by monopoly, but oligopoly.

So you have four or five different factions that’s running the show behind the scenes. They do have a set of common agenda, but they’re not sort of in agreement at all times on all the details. And secondly, they’re vastly outnumbered. There are maybe a dozen or two dozen, if at all, so they really don’t have the apparatus to be micromanaging. But it certainly is a surprise with the WEF agenda of own nothing and be happy and deliberate attempt to really jack up the interest rate. I was a little bit surprised on how well the equity, the housing market, and just how the world is held up reasonably in general, sort of given a threefold rise in interest rates.

I do think that with almost the imminent return of President Trump back in action, the accelerated path of the 2030 agenda may be delayed somewhat. It’s still inevitable, but that path is probably disrupted and delayed somewhat. And what that means is, in my view, would be a benign market for equities and potentially lowering of the short term interest rates. But that doesn’t necessarily mean any revert of the euro curve back to normal, because the long term is going to. The euro curve is going to trend back positive, given the inflationary run rate of the deficit spending, and oil is going to trend down, given Trump is pro fracking.

And I think, all said and all depending on who is in charge, either the Democrats or Republicans, both have positive attributes towards gold. So I think for the Democrats, it’s more geopolitics uncertainties. I think the Russia may get and then for the Republicans would be more runaway inflation, lowering of interest rates, the Ukraine situation also get resolved. I think the chinese situation with Taiwan will get de escalated with the Republicans. It’s all in all, it’s one dimensional. It’s not one dimension. It’s more check and balances on both ends. Wait, so you think the situation between China and Taiwan is going to be de escalated and worked out? Oh, not necessarily worked out, but necessarily worked out.

But it just seems like the Democrats are more keen to wreak more havoc across the world because their agenda is to all the work agenda, the equality issues. And it just seemed like they’re just out there to create more disturbance around the world. And I think if you just look at the records of the four years under the republican administration versus Democrats, you can see how the geopolitics have played out. And I think we’re going to return to a bit of a commas calmness in the next four years under a different reign under the Republicans. And that might spell sort of, as I said, right.

That might still, that might spell pressure for precious metals given the calmness and tranquil nature. But then at the same time, Republicans are known to have a big deficit spending and also bearish on interest rates. So that’s positive for gold. Yeah. So I was going to say that, that I really don’t see much of a difference besides just rhetoric and maybe a little bit of like administrative style between Democrats and Republicans. And Trump is just as big of a money printer as anyone else, and he’s just as big of an inflationist as anyone else. The only real practical difference I see between him and any other democratic administration is that he’s slightly less of a warmonger.

Slight slightly less of a warmonger. And that’s good. I mean, I would vote for him if I did vote. I don’t vote anymore. I’ve given up, forget I don’t care, but I would vote for him just on that because there’s a slightly bigger chance of him calming down the situation with Russia. And maybe he can get Putin to not nuke the planet, which would be a good thing. But in terms of monetary policy, there’s no difference. It’s not like, and respond to this if you think I’m wrong, but it’s not like any administration really controls monetary policy.

It’s work. It’s that the economic situation that we have dug ourselves into because of our monetary policy is necessitating more and more and more money printing, regardless of the administration. It’s not like any administration can stop it at this point. Well, I think there’s two points I want to bring up. If you look at, if you pull up a 40, 50 year chart of the ten year interest rates or the 30 year mortgage, you can clearly see the bear market for interest rate had ended around 2021, when ten years and 1%. So the direction of the interest is heading up.

The question is how fast the risk going to go up. And that is my view. And I think under the four years with the Republicans in charge, the trajectories would be not as steep on the hike of the interest rates. Now, in terms of money printing. I lived in Mongolia, where I am right now, and I was living in South America. I also lived in Europe for four years when I went to school there. The difference, the money printing style is different between Republicans and Democrats, between the socialists and capitalists. The capitalist is more free market, where, you know, they’re really not so much have a problem with other people making money.

But the socialists have a, has a, they have an issue with people that’s outside of their circle making money. So I think that money printing does happen, but to the way the money gets distributed, the distribution of the printing is quite different, in my view. Yeah. So I guess you could put it this way. In my jaded, cynical way of putting it, money printing is stealing. And so when Democrats steal money, they only like to give it to people who are very close to them ideologically. Exactly. And like, let’s say, like an 80 to 90 level of insanity on a level on, you know, on a scale of one to 100.

Whereas when republicans steal money in print, they distribute it a little bit more evenly to people who are between 31 hundred insanity. And while the rest of us just try to stay out of it and stay out of their way and wait for everything to collapse. You got it. You got it. I think Republicans are less concerned about the protocols where the socialists, right, they’re very particular about their social protocols and have to be really fitting to that niche to join the club. Well, really, everyone’s a socialist now, just by different degrees. And what’s really going to wake us all up is that when we run out of everybody else’s money, then we’re not going to be able to be socialists anymore.

So we’re either going to starve, you know, as in, you know, under Mao with 45 million people in China who just died and starved to death, or we’re going to have to go back to actually producing things and we’ll have to go back to producing things and it’s just a question of how many people are not going to make it. And you know, in the end you’re right. In the end it’s all respect to this easy and fiat money without. Without money printing. We don’t, we won’t have this divide on politics on all the different issues because there will be no sponsors, right? Because the sponsors are borrowing somebody else’s money to advance their agenda.

But if you have to take the money out of your own pocket to advance the cause just for the sake of it, nobody is going to do that. So I really don’t see an issue between sort of socialist or capitalist or different. Between different ways of doing business. I think the root of all cause and issues are, is to do with. With the printing and even distribution of that. I mean, I can’t help but notice you’re chinese, right? At least ethnically. Right? I’m Chinese. I was born in Taiwan. Yes, I’m Taiwanese. So I mean, I’ve always wondered.

I don’t quite understand. I know you can’t really say the average like you can’t say the average jew or the average chinese guy, but I’m trying to look for an idea as much as I can get a. Do the people in China, the average Chinese, do they understand what is going on monetarily at all? Do they understand where they fit into it? Do they understand the corruption of it? Are they even aware of the need to overthrow it? Or are they just going to a phone factory and just putting phones together and trying to survive for the next day? We are at a very early infancy of gold and silver renaissance in my view.

I happen to think the youngsters, the Gen Zs and the millennials are lichen gold more than my mother and anything. Everybody’s over 30 or even 25 already well brainwashed. And the gold is a barbaric relic and of no utilities, doesn’t yield any interests and never talked about and old fashioned. And other than Lunar new year or weddings, you might sort of buy up an ignorant or nugget to hand out. People don’t even get married anymore. So the concept of having gold rings are really sort of out of China. In China, people aren’t getting married or in Taiwan or both or.

I think that just marriage rates across the world are declining at a very fast rate. But given. I was quite encouraged because if you watch a lot of the channels, the young people are the one that’s buying gold because they really don’t have any preconceived notion of what legitimate investments are. So they have different channels of surfing social media. They’re nothing fixated on the official, sort of the official channel of what is right and wrong. And they buy everything under the sun. Like, we have shareholders that buy two or three shares. Right. So they’re willing to try everything.

They like the mobility of gold. They like the idea they can carry nuggets and they can travel, whether in their suitcase. They like the idea that it’s quite safe, it’s apolitical, it’s not subject to interest rates or that the helm of somebody else’s does. So I’m quite encouraged, I think, over the next generation, it’s going to be a reconnaissance renaissance in gold is money, because it is money. It’s just being disguised and it’s being surprised, being managed. Yes, that’s exactly my second generation. Still is money today. Yeah. I mean, I don’t think the Chinese or the Taiwanese are any more fond of gold than the Americans.

I do think that what’s driving gold, especially right now, are not the ordinary retailers, but. But strictly the diversifications of central banks. Actually, more specifically, you have the politicians. I see the writing on the wall, and they’re pre running the purchase central banks. So you have, say, even the Jeff Bezos and the founder, Zera, the LVMH, the Koch brothers. The guys just don’t want to get their hands into politics if they know the imminent adaptation of the digital currency and the micromanage to come of when you can buy and what you can buy and how far you can buy it, they don’t need any part of that.

So they’re out there not to make capital gains they preserve, but to preserve their. Preserve their way of being. And that’s why, for the first time in 15 years, my family and myself started buying physicals again. It’s not to do with calculating gains on paper, on how much money has gone up. And that’s what you said. It doesn’t matter. Relentless. You’ve seen this relentless rise in gold after it’s packed $2,000 in January. You’re not seeing some of these wash like we saw before, Rafi. You know, like certain days before the holiday gold would go wagged to $40 for consecutive several days in a row.

You don’t see that anymore. So you clearly have some physical buyers that come in at different times of the day, undeterred of all the paper dumping in the market, and they are just making a run at gold. I don’t think it’s going to stop here, especially given just taking out 25th, 24, 50, and it’s going to go on its way to 2800 this year. It might be. So you are the CEO of a mining company, Silver Elephant. And before we talk about that specifically, I just wanted to get your take on why have the miners just underperformed so badly? And as gold and silver keep edging higher and higher and higher.

Okay, so you could say for the past few months, gold miners have been doing okay and they’ve recovered some of their losses. But really, this is, this is just bad. And it’s been frustrating to me. I mean, I haven’t given up on my thesis that I think miners are going to seriously outperform using the precedent of the post Great Depression crash of 1929. In the 1920s, the stock market was going up and up and up, the equivalent today of, let’s say, the Nasdaq or the bubble stocks. And then gold miners were doing pretty much nothing. And then the stock market crashed, but miners were still doing nothing.

They didn’t really go much. And then all of a sudden, 1930, 219 33, once the bubble market deflated, then the gold and silver stock started to really climb and stayed higher. So if you had mining stocks in the 1920s, let’s say, and you didn’t participate in the climb or the crash, and then they just started going up in the 1930s, you would have been extremely rich during the Great Depression, which is. I think it’s going to be the same thing now. I just don’t know when it’s going to start. Yeah. You know, I run a mining.

I’ve been in the mining industry for almost 20 years. I started out as the.com industry in the Silicon Valley in the late nineties, where I made my money, and I promptly give it all back to mining. So, you know, even being an insider, I haven’t made money in the mining industry. I can write a book about it. I know more than what I need to know. I want to know it. And I ever sort of should know about the industry. There are three or four main reasons, and let me share them with you. And I mean, towards the end, just remember, I want us to talk about the underperformance of silver and some of the reasons for that.

Okay, first for talk about mining companies, they are not making money. Some of the mining companies are mismanaged, but right now, gold and silver prices just hasn’t caught up to inflation. And so if the company is not delivering profits and cash flow dividends, they are just not. They’re just not getting that share of interest from the general equity investors. Secondly, gold and silver markets are heavily managed. I am emphatic about it. I am convinced about it, because the real money needs to be managed so the fiat money can continue its agenda. And it’s been carried out and well documented by James Turk, who’s my mentor.

Gadda, Bill Murphy, I was there since their inception with Chris Powell. They go through a combination of siphoning of the money through ETF’s, of which they might have been double, triple, counting on the gold in the vault. If there’s any gold at all, they may be dumping the gold, taking the gold out of four knox and the swap or swap of gold with Bundesbank, and then dump it in the fiscal market. They also are shorting enormous amount of paper gold in the market and gold and paper silver in the market, of which they are very lenient in their rollover policies.

And overlooking some of the details in allowing this scheme to perpetuate all the commercial banks is an extension of the power that be. They have absolutely unlimited power and margin to achieve their ultimate agenda. And theyre not profit driven and money seeking. So the first of all is theyre just not delivering cash flow dividend because gold and silver prices are not touch top inflation. And the reason theyre not because of the fundamentals, but because theyre just so heavily managed. And I think the third point is, Rafi, I think third point is that gold and silver mining companies, they are very volatile and risky and dangerous business.

I really don’t look at them as an enterprise company per se, like Coca Cola or like goodyear tires, or like McDonald’s, or like Amazon even for that matter. Because gold and silver mining companies are asset depleting business. The first majestic you buy today, or newman you buy today is completely change over makeover in different fund. They were 1520 years ago because the average my life is only ten to 15 years. So a majority of the asset reserves have been depleted. So then if you have a company that’s not making money and then also have that, but also have an asset that’s depleting, not like it’s not growing, right? Not like a farm, you bring cow and more cow and more cow comes.

So the end result of that is really you got to be very choosy and picky in your entry point because you got to treat mining companies like call options. It’s a derivative, the way I look at it is a derivative to the underlying gold price. Sometimes you had the black show model, you have the volatilities like the VIX are high, in which case mining companies trading at a premium to gold prices. But sometimes at the times like what we have right now, mining companies are trading at historic all time low compared to the underlying gold and silver prices.

So if you look at from the VIX perspective, the VIX are extremely low because theres no volatility, theres lack of interest in the gold mining sector. But you know what, funny enough though, this is the time you want to buy. You want to buy when the VIX is low and then when volatility increases then the mining companies will are start to outperform gold and silver in the long term. I think the fourth reason I also want to share with you and your audience consider watching this again because these are the conduct information that I’ve sort of accumulated over the last 25 years.

Observing the market is mining company investors are different from gold and silver investors even though they are related. But they are not the same gold investors right now. Like I mentioned, you are the billionaire, the Senti billionaires, they are buying physical gold, they’re not playing with the paper market. And then followed by central banks the likes of Russia, China and Japan and Saudi Arabia. The guys are at odds with the BRICS country, at odds with the United States. But the mining companies, if you look at silver company, the silver mining universe, for example, I think the collective market cap valuation of all silver public listed silver company under the sun across all world stock exchanges is probably less than $20 billion.

So that’s a drop in the bucket. That’s not even 100th of Nvidia. So you’re looking at a very substantial investor that are speculative driven, mostly gold bugs out of Germany and United States to some extent, not even Canada. I know our shareholders majority, almost 80% concert in North America and parts of Europe. So if you look at the participants of the mining stocks versus the participants of the gold and silver, they’re very different. So eventually the spillover, the overlap will have to be the rise of the gold prices driven by one side of the investor to the high enough level that the profit delivered profit.

Then you’re going to have a different set of investors who are dividend seeking or speculative driven than getting to the mining company. So there’s not a whole lot of overlap right now between those two sets of investors. So overall, like I said, in conclusion, the price is not high enough, the prices are heavily managed and the gold and silver are highly speculative with depleting reserves. And then eventually the different investors of gold and silver mining companies and metals are different participants. Right. So you said you wanted to talk about silver. Before you go into that, I just wanted to just put by you my thesis here on miners in terms of the end game dynamics of it.

100% sure this is going to happen, but I cant see any other way out of it. If you have a world where gold and silver prices really are catching up to inflation, were already in a money supply, dollar supply world, were already at the hockey stick going vertical, and the next money printing round is going to have to be even more extreme, because thats how they always happen. They get more and more extreme every time. Yeah. And have to be rising interest rate. You have to pay more interest after more. There’s no stopping of it. So the point, what I’m trying to say here is that once we have a point where gold and silver prices in dollar terms are catching up to inflation, I think very shortly after that we will be in a world where the dollar doesn’t really function anymore.

And then what happens is gold and silver miners, people see their purchasing power in their bubble portfolios of Nvidia and all this other stuff, they see it going down and down. They see gold and silver miners increasing. But you have something even more fundamental than that, that if the dollar isn’t really working anymore, then what companies can really pay dividends because you pay dollar dividends. If the dollar isn’t worth anything, what’s the point? But gold and silver miners, they produce gold and silver. They could actually pay in gold and silver certificates of their own product, and they could actually function in a world where the dollar doesn’t function because they create money literally.

I hear your point, Rafi. My view on the dollar is a bit different from the sort of some of the. Some of the. Our pundits on our side of the aisle. The way I look at the dollar is the coupons that the king prints for the peasants. And so for the. For the society to function as normal, for the farmers to yield crops, for the cattle grower to deliver the cows, for the. For the people, for the restaurants to cook, to produce the meals, you have have some sort of world that resembles a bit of normalcy.

So I think that to turn the dollar upside down will be wreaking such a havoc that is not to the best interest, the power that be so much to the contrary, I think there’s a consolidation and subordination of all the other fiats to the dollar and the image the dollar needs to maintain to resemble a bit of norm. For at least you cannot just like everybody go like upside down, right? You have to just feed them enough, like the communists, like Xi Jinping, you have to feed them just enough. And then you feed them a little bit more so that they feel like they are grateful.

But you cannot just, you cannot just, you know, turn the world upside down with the repudiation of the dollar. I want to briefly touch also on the mining shares a bit more, people. The discussion for the managing of gold and silver is a well documented, like I talked about, through the ETF’s, through even the cryptos, through the shorting of the paper commercial markets. However, in the last five years, especially what I have observed looking at the trading of silver elephant and other mining companies, which I own, like Hecla in particular, first majestic is, I believe, in a typical day absent of, say, earnings release or discovery of a drill hole, 80% of the volume of mining companies with the silver in it.

And are algo driven, including silver elephant, we are one of the largest top 50 OTC trading over the counter in the United States in 2021. And even today, I would say 80% of our volume are algo driven. For example, if somebody were to place 100,000 share bid, which is around $50,000, you’ll see the dynamics of the death chart change in a split of a second. And this is nothing. And the reason for that is you cannot be holding down gold and silver and then have first majestic or silver elephant run away. People is going to be scratching their head as to what’s happening and start asking questions.

And that’s the last thing the cartel wants. So these kind of things, eventually the dam will break already, like gold did at 2000, never look back. I’m of the opinion you’re not going to see 2000 again. You might see silver briefly, go down below 30 briefly, but then eventually it’s going to catch up to around $50. Now let me just spend about 60 seconds, talk about my beloved subject, silver, of which I studied over 25 years under David Morgan, who’s a very good friend of mine, and read over everything under the sun, David Butler. And I would say, I know probably silver, better than anybody else on this planet is silver is underperforming because of China.

China has gone through what the Uniteds go through, the financial crisis in the last 18 months. And China had. The equity market is back to 2021, pandemic levels. In the Shanghai stock market, it had a bit of a dead cap bounce in March and April, where the market bounced around 20%. And thats why you see silver went from 22 to around dollar 30 in the last four weeks. However, Shanghai just had a relapse of that decade bounce. That’s why you’re seeing silver just very lethargic, right? It’s just like gold is that making that daily highs and silver just all of a sudden getting whacked, especially in Asia.

You’re not seeing follow through in Asia. If there’s a physical demand across the board. And if you people are talking about shanghai market and then all the passions of silver bugs in Asia, you should see a follow through in Asia. But in fact, what happened is you had the physical dumping of producers from China with a gold silver producing dump into the market. So that’s why they sort of pressure in the market. But those books are following the silver market. I think we’ll still eventually catch up to gold. But the asian economies, especially in China, got a stage of rebound.

And so sometimes you see silver trend closely, gold. But right now, silver is getting whacked alongside with copper. So it’s got that dual personality do sort of two face about it. Unfortunately, silver is 70% industrial. And that’s why if copper is a down day, or the asian market is on a down day, then you’re seeing that pressure on silver, which is what we’re seeing right now, the last couple of days. Right? I mean, I’m waiting for us to go into a world where silver is not 70% industrial. Because again, I know we disagree on this, but that’s okay in a world where the dollar doesn’t function, which is, I see, as an inevitability.

And the only thing to go back to for the public is silver. There’s no other commodity to go to, because silver is much more liquid than any other commodity in a world where the silver is the money, which is, I think, where we’re going back to eventually. A lot of things could happen until then. But that’s what I’m holding out for. Rafi, you are in the 1%. Even my mother just said, son, I’m almost 80 years old, and my money is your money, and let’s do some estate planning. I just say, well, look, buy gold in the guy, buy gold, put in a bow, and then, you know, put the key somewhere and then putting the notes.

And then she just, like she’s 80, she’s not believer in gold. Unfortunately, like I said, because I lived in 47 countries and actually spend majority of my time outside of North America, even to this day, is. You’ll be surprised to see how badly, right. How ill managed the other countries are. I was in Turkey for holiday this time last year. And then that’s just the time when the erdoan just got reelected. I arrived Turkey at a 22 turkish lira to a dollar. And by the time I leave, ten days later, it was 25 lira for a dollar.

Like 32, 33, something like that. Yes. And then if you look at the. And if you look at sort of the new darlings of the new darling policy figure of this guy out of Argentina, right? Oh, yeah, I like him. He is. Well, I mean, he’s debasing the money. Like, you know, how can you print. How can you. How can you debase your economies to success? So I think it’s just different, uh, it’s a different, uh. It’s a different. It’s the same people, different hats, right? Telling different sound bites. But the. But it’s the same. It’s to debase the base, debase the currency, rid of the middle class, and.

And further drive the divide between the two tier system. Oh, you think. You think that Javier mila is part of the bad team? You know what? I really don’t hear the rhetorics, but I let actually speak louder than words. Since it’s installed in Argentina, the currencies debate is 50%. Right. So I’m just. I’m not sure how that is good for. Good for economy. And, I mean, well, the way I see it is that he’s just revealing the debasement that already happened. He’s got to get rid of the peso entirely, and he wants to go back on the dollar, but I think that’s also a trap.

He’s got to go back to gold and silver, which is economically impossible without starving a lot of people. But there’s nothing else to do. Well, I’m glad I’m not a politician, so just running a little silver mining company. All right, so you want to talk about silver elephants for a little bit? Yeah. Well, Rafi, I appreciate the opportunity. We are. Silver elephant is actually a producer. We’ve gone with our stocks slaughtered back from 2021 to where we are today. Not different from. From, say, first majestic. Right? We are about. We’re about 30%. We’re about double from what we were from the bottom start of the year, but we’re still 70% from the top that we were three years ago.

We are cash flow producing. We’ve got 100 millionoz in the silver. We’re trading about $20 million market cap. So the company is trading at around $0.20 in silver, $0.20 an ounce of silver in the ground. And we’ve been in Bolivia for the last 20 years and we do have a very good partner by the name of NDN Mining who is the offtaker for our silver. And in the last nine months, the company produced around 700,000oz of silver. The contract we have with NDN is a fixed contract based on the tonnage we deliver. So all the companies is due to receive $2.5 million in the next six months and then further half a million dollars towards the end of the year.

And the optic contract only scalped about 8% of our resource in the ground. So we have a vast resource to be explored. I encourage our volume established all time record in May. And I think the company is getting started, getting notice and recognition again. And I think for some of the audience with high risk tolerance and stomata volatilities and sort of some discretionary money to spend and recommend, you take a look at us and feel free to get in touch with us. I’m pretty active in Twitter. I’m a chartered financial analyst. Just search me out at John Lee Silver Elephant.

I’m a very technical chartist and married and fundamental analysis with what the charts are telling us. And for me, gold is going to go at least $400 higher this year. And then silver sometimes going to break out this $32 handle and then from there, nobody really knows how high it’s going to go, right? Because once silver breaks through a certain level, we’ve seen it before. We saw it three times this century. And my thesis is we’ve saw it three times a century. We’ll see it once more in the 21st century. It was 1919, 1968 and 1980 when the ratio went to 15 to one.

And that is the numeric definition of a monetary panic. We’re going to see it again. And when we do, the world’s going to change. It’s not going to settle down this time. You know what, though? Like my favorite book, reminiscent stock operator. There are a lot of people that can catch the bottom, but they don’t make money, right? It’s about sitting tight. Keep in mind that you have only 300 millionoz of stock investment demand for silver. So that’s around less than $10 billion. And when the train comes, when the guys have started doubling down, it’s going to run away.

You don’t know how the, you only know the topping hindsights. You know, every time silver take out dollar 35, the top is established within a two week window. And so you really don’t know how high it’s going to go. And honestly, nobody knows. And secondly, I want to talk about industrial demand, which is playing a headwind. But when the silver start to run up, they will become tailwind. And the reason for that is silver is used in critical industrial application, television, medical photobotics, with the solar. So when you start singing, and especially with this real time supply chain, when you start seeing silver that run away and you have to supply procurement, it’s like, holy shit, I need.

I need 10 million. I need 3 millionoz, right? In six months from now, they will absolutely like apple going after Cobol. When Cobol went on that craze from five dollars to thirty dollars a pound, they’re going like, holy cow, I got it. I got to go. They call Glencore. Glencore said, I’m sorry, I don’t have anything property. And Glencore may be short, right? They call JB Morgan. JB Morgan say, hey, get in line, buddy. I got a short. I got a short position of 500 million houses. I could get a cover. I have nothing offered for you, so you’ll have a situation.

Not only are the speculators coming in, grabbing silver, but you will have the industrial user becoming our friend. You know, the apples, the solar panel producers, the GE mad, the GE medicals and the like, all this, like they are going to be going after silver mining companies. Just like Elon musk the last five years, going after Nickel mining company. It is the same playbook. And then one more thing I want to, while I’m talking about nickel, is you got to buy physical gold or mining silver mining companies. You cannot put all your baskets on IAU EtF’s.

This gold passport offered by the banks or the Perth min and allocated storage or even worse, a comex or LME paper market, because it’s happened already three years ago, two and a half years ago with nickel. Nickel went from $8 a pound to 50. This is unfathomable. Rafi, I want to share with you the LME, the Linden Metals Exchange Exchange, who’s owned by the Hong Kong Stock Exchange, which thing in turn is owned by the Chinese Communist Party. They hold the market. Sounds wonderful. They hold it, the nickel market for a week. Then they roll back all the trades over $30 when the price was at $50.

So they repudiated hundreds, like hundred, I don’t know how much. I think there was like a $30 billion loss right now to this day. And they are. They just be real. Like the trades. They settle all the trades on $30, which is an arbitrary number. And then they roll back that trade and then they just put also the contingencies. They allow the shorts to roll over without settle. Basically they rewrite the book, rewrite the rules. As a silver investor, you don’t want to be stuck in your sober comebacks position. Have Argentina, they will convert your us dollar bank holding on a Friday market close.

On one, I wanted the peso, and then on Monday they readjust the exchange rate to three pesos to a dollar. And then they then convert your pesos back to the dollar. So you got 30% less. Like this will happen again, you know, when the things got really, really out of hand. So you just, you got to absolutely make sure you have the physical. That is the last line of defense. Yeah, yeah. So that’s the way I put it is people tell me that they’re going to cheat. I say, yes, they’re going to cheat. They’re going to keep cheating and they’re going to keep cheating until people just repudiate all of the paper derivatives of silver and just say, oh, you’re going to cheat? Fine, forget it.

I’m not playing this game anymore. And they go into physical and that’ll be the end. Yes, well, not so much the end. Well, you know, it will be an end. I mean, you’re right. Like, again, like the nickel market is a good indicator right to this day, which is two years from, since the, since the episode took place, the volume on the nickel Linden metals exchange is around a fraction, about 5% of what they were. So what you’ll see is the utility and the vehicle speculation for paper markets start to wane, but then the physical market wouldn’t start to take over and then the true fundamentals and the clearing price would then be reflected.

All right, well, John, I really appreciate the conversation. Thanks for contacting me and coming on my little show here. If you’re interested in silver elephant, check it out. The symbol is, it’s E l e f. Yes. Okay. And there’s also an OTC symbol. We’ll put it on the screen here and check it out if you’re interested. And John, I hope to have you on again at some point. And this is very interesting conversation. Thank you. You know, such a pleasant, such a pleasant show. That’s, that’s sustaining too. That’s if gold takes out 2800 and silver over, over 35 in the month, in the following months.

Okay, thanks for coming. Okay, see you soon.
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