➡ The precious metals market is facing a crisis as people are not buying gold and silver as much as before. This is causing problems for those in the coin and bar industry. The lack of upfront money is causing delays in payments, which is hurting the industry. The situation is different from previous years, with less scrap metal coming in and fewer businesses buying gold. This is due to a generational shift away from owning gold and silver items.
➡ The younger generations are not as interested in owning gold and silver jewelry or silverware as previous generations were, leading to a decrease in the amount of these metals available for refining. This shift, along with other factors, has resulted in a different market for gold and silver compared to the 1980s. The lack of gold and silver ownership among Americans could lead to problems if the dollar collapses, as there would be less real money available. Despite the decrease in available scrap metal, refineries are still struggling to process what they do receive.
➡ The two major metal refiners, Metal Ore and ACAI, primarily supply the industry, not the investment market. ACAI, the only Comex and LBMA rated refinery, has been backed up for months, not due to people selling silver, but because of deals with entities extracting metal from Latin America. This has led to less recycling and a focus on refining new ore. The speaker theorizes that this shift in focus is causing delays in the supply chain, which could lead to a shortage of tradable silver in the event of a dollar collapse.
➡ The bullion market, which includes gold and silver bars and coins, started in the 1980s. In 2011, there was a surge in selling these items, but the current market is not as active, even though prices are higher. Many Americans don’t own gold or silver, possibly due to reliance on mainstream media for financial information. The speaker suggests that the COVID-19 pandemic has led some people to question mainstream narratives and consider alternative investments like gold and silver.
➡ The coin and bar industry is facing a crisis due to issues with hedging. A major player, Metal Ore, has stopped hedging gold, causing a ripple effect in the industry. This has led to a lack of immediate funds for precious metal dealers, causing potential business failures. The situation is already affecting the retail gold and silver industry, with many products becoming impossible to buy or sell.
➡ Comics make money from large banks that deal with billions of dollars. The discussion suggests that the U.S. is subtly returning to a gold and silver standard, as seen in the design of the $100 bill and the minting of gold and silver eagles. The speaker also mentions a case where an employer paid his employees with silver eagles, which he sees as a form of a silver standard. Lastly, the speaker suggests that in the future, taxes may become worthless and the financial system will restart on new terms.

Despite the fact that this is just epic prices in gold, silver and platinum, the public is totally clueless. Pretty much totally clueless. They don’t own gold and silver. These precious metal guys will go out there and they’ll take their millions of dollars or hundred thousand, whatever it is, and they’ll buy gold with it and they’ll immediately send it to the refiner. And when the refiner gets it and looks and says okay, we got this weight, it appears to be this carat. You want front money? So they were able to get their front money. They were able to get some of their money back real quickly that they could put back out on the street.

Well, guess what? They’re not getting that front money. There’s no front money anymore. So you wait seven to ten days for your lot to get done and then you get paid. This is devastating for the coin and bar industry. Retail ain’t buying the silver. You know, we’re selling a little bit. We had a big busy day last week right after the drop. In fact last Friday after that drop was the busiest day I’ve ever had in my store, ever with buyers. They use the term de dollarize, you know, but what do you call de gold eyes? Desilverized? I mean I’m not sure a term for that.

But I believe America has been de gold eyes. It’s called being broke is what it’s called. Hey guys, Rafi here from the end game investor. I’ve got Brian Kuzmar on the line of commercial rare coins and precious metals of Lauderdale by the sea, Fort Lauderdale, Florida. And he’s going to inform us as to what is going on at the ground level. Because as you know, I am in the ether and I try to talk to people who are more at the ground level or can more detail what is going on in the nitty gritty of the actual silver market rather than in the high flying concepts of what is money and what isn’t money and all this other nonsense.

So Brian, you’ve been through 1980, you’ve been through 2011, you’ve now been through 2025 and 2026 and the crash of 2026. What is going on at the ground level? How is it different from anything you’ve seen? How are people behaving and the buyers and the sellers and I heard you had to shut down your acceptance of scrap or junk silver for a while. What’s going on with our Just, yeah, just describe the chaos or order or anything in between that you’re seeing going on and what does it mean. I’ll kind of go from the first question you had asked, the differences between the 80.

What I’ve noticed in, you know, my, my, in my view was the difference between 1980, 2011 and this current market is I was a young man in 1980. I was, I don’t even know how old I was, to be honest with you. I was probably working for my father as a teenager after school or something like that when I kind of started. And he started in a small, small place. But, you know, there was a lot of the primary difference. I don’t want to get off and jump down rabbit holes. But the biggest difference was the amount of scrap at the time.

The amount of scrap coming in from the public. The amount of gold and silver was just incredible, which is something that I have never seen since 1980. And when I say incredible, we literally would have people standing out in front of our door. My father’s small store in Boca Raton, it was a Florida currency, coins, to be specific. I worked for him and I think I got a picture of me back here in 1977 in the suit. Actually, believe it or not. You can see it to the right of me. But maybe we’ll make that to the thumbnail.

We’ll see. Yeah, here I even. Here, let me just reach around. I don’t know if this is appropriate, but there is I right there in 19. Might be a little hard to see, but that’s me working at my father’s store. There’s an old teletype system that’s probably after 1977. They were asking me about Platinum, the local newspaper there, you know. But the amount of scrap coming in my father’s store, everywhere in the country was just phenomenal. People standing outdoors with giant tea services and trays and, and bags of jewelry and bags of gold. I mean, literally we had people pulling their teeth out.

I remember. I mean, that’s not a made up story, you know, because they, you know, we had an old guy come in that sold his gold, whatever, you know, I don’t know what he was going to replace it with or if he cared. But I love gold so much that I even lost my genitalia in an unfortunate smelting accident. Hence the name Gold Member. That’s how crazy it was. It was that amount of scrap coming in. All right, let’s move on to 2011. We saw some of that scrap business. I would say if I were going to put it in a percentage, we saw about one third of what we saw in 1980.

All right. That’s probably not a bad assessment of the amount of scrap coming in and the amount of people. However, 2011, 2012, that bull market we seen, remember Cash for golds, I don’t know if they popped up in New York, but they were everywhere, everywhere. Every corner had a cash for gold business that was kind of busy. Cash, cash. Cash for your bones. Too many bones, not enough cash. Call cash gold, which I did not anticipate as a businessman, you know, I’m thinking my next bull market in 2011 after 1980. I said, oh man, I’m all ready.

I’m going to get all that business. And then those guys started popping up everywhere. So it kind of diluted my business a little bit. But to make a long story short, I saw probably about a third of the material come in 19, I mean 2011 than we did 1980. Let’s fast forward to currently take a look around folks. Do you see any, have you seen any cash for gold businesses? I haven’t. And one of the world’s most epic. This is strange. This is strange to me. This is what I’m going to tell you, what the difference is in these markets that I’m seeing right now.

1980, tons of material coming in on the recycling end. This is, you know, you were asking me as a front soldier, frontline soldier, what I do. I buy, you know, we buy from the public scrap, we refine stuff. We buy from other dealers as well. In my business, I buy from pawn shops and jewelries and other. So I don’t just buy from the public as well, but tons of stuff coming in 1980, 2011, about a third of the stuff, if that. And tons of shops still popping up everywhere. You know, even 1980 during that market, there were tons of, they weren’t called cash for golds.

Tons of precious metal and coin stores popped up everywhere towards the end of that market, you know, 25, 30, 40, 50$. Now say popped over, same thing in 2011, this market again, I don’t see them. They’re not out there, period. You don’t even see the TV ads that we were seeing before. You know, hey, we’re buying gold. You know, this such and such jewelers are buying gold. Newspaper ads again, signs everywhere. We just haven’t seen it. And the reason is, and here’s the reason, Generational and through the generations, the scrap is gone. Americans, I’ve been saying this for a long time, Americans own even on the level of personal goods like silverware and jewelry, our father and grandfather’s generation own that stuff, the stuff’s gone, it’s melted, it’s finished, it’s gone.

There’s not as much out. And this is why we don’t see the cash for gold businesses out there. The recycling end of America at least is done. It’s done. As far as scrap metals like silverware, gold, even gold jewelry, you know, was real popular through the 80s and stuff. But we’re seeing a generational move away from gold jewelry. Look at prices of diamonds. So we’re seeing even less gold jewelry by the newer generation. I mean, look at these kids that are worth millions and millions of dollars, billion dollar. You know, wait, I have a quick, quick question on that.

I don’t know if this is your expertise, but are we seeing a move away from jewelry entirely or a move away from gold jewelry specifically? We’re seeing a move away from. Tough question. I mean, the best way I can answer that is, you know, I live in an area with kids that have, you know, families are worth millions. You know what I mean? These kids are. I go out in my boat and I see these kids driving boats with four motors on the back that are worth 2.5 million and they’re like 16 years old, you know, so.

And what are they wearing? They’re not wearing gold chains, not like, you know, the earlier generations. They’re wearing a rubber band around their wrist or a little piece of string tied with their girlfriend. Seriously. So the generations of gold, you know, people, kids that work, they’re gone. I mean, I even talked to this about other jewelers, the younger generations. And I’m not sure what generation is kind of given up on jewelry, but it’s happened more or less. And this is kind of same thing. What happened with silverware, which silverware and flatware, which is one of the, you know, the biggest scrap items that people owned at one time.

You know, every wedding service from my parents and earlier, you know, they got a silver set and for a gift for weddings. It was a common thing back then. Even if you didn’t own silver, you owned silver plated stuff. Well, those, those generational type things have gone. So the use of silver is not there for that. So it is a completely, completely whole different market from 1980 to now as far as scrap. And this goes into the refining issues and things that we’re talking about, refineries as well. Probably one of the reasons that we have, you know, and actually just just occurred to me because I’ve been, I’ve been ranting on the refining problem here in the United States however, if there’s less and less to refine every year because of that generational not owning gold and silver to refine, then maybe it’s the reason we are in the situation we’re in right now with refineries.

But again, I’m jumping tracks here, you know, I’m saying. But it all ties. Brian, could we say this is just speculating how these mechanics are working? Could we say that part of the, the peak of 1980, the fact that so many people were lining up to sell, to sell you gold and silver, that meant that that price was too high for that time because brought in the demand to sell, right? But this time it’s not too high for this time because there is no demand so because there’s no supply left. So it has to keep going higher and higher until here’s, here’s my contention.

I think you’ll disagree with this, but this is. We know, we know where we each stand and we’re both pretty, you know, secure where we stand. Doesn’t really matter if we agree or disagree. But, but what I would say is that because nobody has any, the price is going to have to go so high that it’s going to have to knock out the dollar entirely to get any amount of gold circulating as well. If this, if the end of the monetary system had happened in 1980, according to my thinking, then, then people would have been much better off because they would still have real money around.

They would have gold and silver scraps and they could make it into money pretty easily or they could just trade the scrap and then weigh it or whatever. But now it’s, if the dollar collapses, people are going to be in a much worse off situation because they don’t have anything. All the entire gold supply is stuck in the comex, in the vaults there. And silver too. Silver is like still at 400 million ounces in New York. I wouldn’t disagree with you at all, Rafi. I think that’s a very good assessment if you ask me. What I what.

And it kind of plays in exactly what I was just talking about is purposefully or non purposefully, the United States has become a non gold holding. The, the, the people of the United States don’t own gold or silver. When you do, when the polls are done, and I’d like to actually see the polls, but when the polls are done, you know, when you see, you know, do you own gold and silver? In a certain amount of Americans say yes. They don’t specifically ask, do you own gold bars? Do you own silver? You know when they say, do you own silver or gold? Yeah, I still got my mother’s ring, my gold, My mother’s ring.

You know what I mean? As far as the generation that doesn’t wear jewelry, they still may have mom’s rings, you know, some of mom’s jewelry, mom’s still alive, that kind of stuff. But they’re not buying it, they’re not owning it. Even in the regards to. When I take a look at the analytics on my X videos, for example, I was kind of, it was just kind of interesting. I was looking at the analytics and who my target, who my audience is. They’re not 20 year olds and they’re not, you know, I mean they’re not teens, 20s and 30s and even 40s for the most part.

My, my, the analytics of me, what I’m talking about, which is very specific sales and gold and silver kind of like I’m not sure about, you know, your audience, but my audience that’s listening to me about buying hard assets, about me as a dealer, they’re in their 50 plus, they’re in mostly in their 60 plus, actually. Yeah, same with me. Same with me. 50s, 60s. Yeah. So the generation, I seriously believe that we’ve, you know, they use the term de dollarize, you know, but what do you call de gold eyes? Deep desilverized. I mean, I’m not sure a term for that, but I believe America has been de gold eyes.

It’s called being broke is what it’s called. Being paper rich. Yeah. Or, or seemingly paper rich. But we, the Americans don’t own gold and silver. It’s called owning nothing and being happy. That’s what it’s called. Yeah. Taking over the un, Taking over Klaus Schwab’s plan, all that stuff. Yeah, yeah, it’s, it’s, it’s interesting. But you know, making the comparisons from 80 to 2012, and again, you know, I can eas, you know me, I can jump down rabbit holes. But huge differences in between those. That’s just one of them. As far as the recycling goes, as far as the buying activity.

Now I’m going into the selling. I just mentioned the differences between 80, 11, my, my observance and now. So we got very little scrap coming in. Very, very little scrap. And again, I, I can certainly say with much confidence that that’s a generational thing and that slowly over the years a lot of this stuff has been melted. It’s not out there anymore. And I’ll just add that despite the fact you have very little scrap, you still can’t fit what you’re getting to the refineries because they won’t buy from you because they’re clocked. Yeah. Which one of them with.

Well, this is interesting, but in my opinion. All right. And I’m on the boots on the ground with refiners. You know, a lot of guys out there that aren’t, you know, I mean, I deal directly with refiners for many, many years. I’m on the phone with them, I talk to them, I query them. And let me tell you one thing about refiners. They are absolutely dark when it comes to giving out any information on who they’re getting metal from and where it’s going. Dark how? The Silver Institute, by the way, who blocked me? They don’t talk to me anymore because I questioned their numbers one day.

I did, I questioned their numbers and in a polite way I was questioning there. And again I’m sidetracking myself. But I thought a lot of their numbers during COVID when I had too much time on my hands to look into this stuff were way off. You know, I don’t know if they were just repeating or just copying or assuming. And a lot of industries use the Silver Institute as a guideline and I’m not dissing them at all. But I sure like to see. And I did query about, you know, hey, can we look at your data? And that’s when I kind of pissed some people off, I think.

And I wasn’t trying to, but I was curious, can I look at your data? You know, we’re not using silver for photographs like we’re used to. So why does this number seem excessively high? We’re not getting the scrap in. I mean, think of a whole year. We’re closed. Why does this number seem excessively high? Where is the data from this. But I did find out through other sources that through people that query the refiners that they’re very tight lipped and they are indeed tight lip. Rafi. I mean, I, I tried to say, hey, listen, where’s all this metal coming from? Nice talking.

I did get information, I’m not going to say, which because I’m involved with the two major refiners out there. I did get some minor information out there from somebody that was doing compliance. I shouldn’t say that, but compliance checks. But that’s what they’re doing. And they did kind of confirm that it’s mining and it’s probably Latin American mining. That’s stuffing. My assumption is that they’ve seen the writing on the wall that they can’t be that stupid, that over the years that Comex and the banks, I mean they’ve been called out on it for how long about having contracts that weren’t covered in silver.

They almost went through it in the Silver Squeeze or the Reddit Silver Squeeze. They had to see the writing on the wall. And about that time, shortly after that time after the silver squeezes, when the refiner started getting backed up. My assumption, and my guess is that you got your two major, only two major refiners out there and the reason they’re the only two out there is because again generational, we don’t recycle as much scrap as we used to. So why would you have a ton of refiners out there? All of a sudden this happens whoom right through the roof, all right? And we got a confluence events.

All of a sudden we’ve got maybe entities saying you know what we have to fulfill. And the two major refiners that I’m talking about are metal ore and Acai metal ores. Most of their metal goes to industry. Not many people know that they don’t make thousand ounce bars for comex, alright? Their primary metal goes to making industry products that are used in industry. And if you look at a metal ore website, you’ll see that they’re not making bars for investment. ACAI is a different story. ACAI is a huge operation. ACAI is the only Comex rated and LBMA rated refinery out there.

And ASAI is backed up for months and months and they have been for a long time. This refinery backup is not a result of huge numbers of people selling their silver which is a huge confusion with the public. And most people that aren’t in this industry, you know, and aren’t in the boots on the ground like me, don’t realize this is not bags of 90, this is not 100 ounce bars that are stuffing up Acai in my opinion because the backups happen way before all this fury and silver. Okay? This is a result I believe of deal making by some entities.

Again speculative on my part, but I think I’m safe on saying this, that went to the only LBMA or two, maybe lbma, but let me say just one because again metal ore is mostly what I know of products, industrial products. So I believe a major entity went to ASAI and said listen, we’re gonna pay you what needs to get paid to make this metal from Latin America that we’re pulling up. And they are pulling up, it’s going somewhere, it’s got to Be going to a side coming through trucks through Mexico. We’re gonna make a deal with you that you gonna work.

And they work two shifts too. I don’t know if many people know this but you know, Asai works two shifts. They’re going 24 hours a day. In my understanding right if I’m wrong someone will correct me out there. But I’m pretty sure that’s true. But they’ve been running this, this ore through ASAI to produce 1000 ounce, you know, 1000 ounce bars comics now be M rated. I believe that this has been happening for a while and this is why ASAI has backed up and that they’ve been doing. They, they’ve been working for an entity or entities that are producing a ton of ore, you know, or refining ore out of South America.

And this is what has put us recycling on the back seat. You know, I’m saying so if you’re the biggest refiner out there and an attempt and entity comes up to you and says hey listen, you don’t need to deal with you know, these small guys and these big guys will make you that much money or more if you lock in us in a contract that you’re going to take all this mining stuff and push it through. Now again speculative on my part but I can’t figure any other reason why this is happening. And it all locks together to me with.

I wrap my mind around it. So the reason that we’re not seeing a psy run my lots through and a lot of other lots through is because I think they’re backed up with or just non stop coming through Latin America now. Now that’s, that’s my theory on that whole thing. Any, any questions on that? I mean I don’t want to kind of keep rambling what, what I would say. I’m just going to take what you said and reflect it through the higher level exospheric view of things which is where I reside mostly. And the air is pretty thin up here.

Yeah, the air is pretty thin up here. I might be hallucinating but I was talking to Phil about this in my last video. The bitter draft guy silver is being forced back up the supply chain from retail to bars or from retail to industrial. But, but in the, in, in a collapse of the dollar scenario you’re not going to need the silver up there. You’re going to need it down at ground level so people can trade things at least for a while. I don’t think we’re going to be in a world where people are Trading silver coins for years or decades at a time.

But I do think that in the immediate collapse of a, of the dollar, which is going to happen in the immediate aftermath, and that you’re going to need silver coins for maybe a few months, maybe a year, something like that, just for emergencies. And if we, if we take. What causes the boom and bust cycle? The what, what makes a boom and a bust happen is the delay between gold prices and the consumer price index. That’s the, the delay is what makes the boom. Right, because monetary conditions change and gold and silver pick up on that immediately.

But it takes time for the supply chain to filter down from gold prices all the way down to the end consumer product, which might be an iPhone or whatever that has the gold and silver in it. And in the meantime, before prices catch up, everyone feels richer. But then the bus comes and then, and then gold goes. Gold and silver go up relative to everything else. Yes, gold and silver go down in dollar prices too, in the bust, but they still go up, they go up extremely relative to everything else, which crashes much more than gold, mostly gold.

So what we’re talking about here is what it, it verifies what my theory is as to the immediate aftermath of the end game. For a few months, maybe a half a year, maybe a little bit less, assets are going to go very, very cheap. In terms of silver, specifically, because, because we, we have this huge bet because the structure of the market doesn’t make any sense for what money should be. There’s only two refineries and they’re going the wrong way. Marshall is running the wrong way. Think he scored a touchdown. He scored a safety, right? They’re taking coins and they’re, and they’re making them into bars or they’re making them into industry applications or whatever.

Maybe not. That’s, that’s my point. Maybe they’re not making coins. They’re not mints, right? They’re not. Oh no. For retail. Right, Whatever. Even for the mining stuff, whatever they’re doing. Exactly. They’re not, they’re not distributing silver for monetary purposes. They’re doing it for industrial purposes. And this, this reflected in what the business cycle really is, because as inflation progresses, it concentrates capital. So you have these huge corporations, these huge, huge conglomerates, Monsanto, these insurance conglomerates that control blocks and blocks of hospitals and they make everything very stilted so that you can’t have any personal decisions in anything, right? When, when everything becomes so centralized.

That is, that’s the symptom of a very inflated economy. And then when everything reverses itself, there’s not going to be enough infrastructure. When the demand for coins comes from like industry demand, I think is going to collapse. And once industry demand collapses, because in a hyper deflate or hyperinflation industry demand collapses for everything. And the prices of all capital go way, way down and the prices of consumer and consumer prices go way, way up. So you’re going to have all this demand for coins and none of this demand for industries. So all the, all the silver that’s being forced up the chain right now is going to have to be sucked back down.

It’s Megamate, she’s gone from suck to blow. What? Well, we don’t have the infrastructure to deal with the demand for money. And that’s why things are going to get so cheap in terms of silver, because there’s not going to be enough tradable silver around because it’s on bricks in, in the LBMA or in industrial applications that are going to be useless in the end game. When, when silver was climbing up week after week, tens of dollars and then hit a high 121, whatever it was, and then crashed down on Friday and Now we’re like 85 or whatever it is.

What, what, what were you seeing in the market in your store leading up to 120 and what were the changes that you’re seeing now? Now that we’ve crashed back down to somewhere in the troposphere. All right, this brings us back to the 2000, I mean 80, 20, 11, 12, which is sales. I talked about buying in the store for Those, you know, three different types of markets. Sales. 1980 sales were pretty good. Once we started breaking into that, it was a FOMO moment. The public started coming in. Not only were now they starting to sell us tons of stuff, but they were coming in and buying 100 ounce bars.

Product was being made. That was the first real. That was when bullion products really came out. There were no makers, you know, Franklin Mint, a few other people were making bars and stuff. But Engelhardt started producing 100 ounce bars and their different products. And you know, 1982 prospectors, remember and then the US Mint came out with the 1980 half ounce gold because I think they wanted to compete with the Krugerrand. So really 80s is when the whole bullion markets, retail bullion, coin and bar market started before then you had to deal with 90% coins, Mexican 50 pesos, that kind of thing, you know.

So that was the birth of the bullion coin and Bar Market 1980 because there was a market There was a need for it. 2011 was off the hook. One third of the amount of scrap coming in. Very little scrap coming in, which is telling, but tons of silver flying out the door. I mean, we sold so much silver in that 2011-12 market that run up to 50 bucks. It was crazy. I mean, it really was crazy. We weren’t buying anything either. It was selling, just selling. And then this market, nothing. Not crazy, not crazy. I mean, you know, I expected a lot more people this market compared to 1980, on.

On buying scrap. You know, I said that 2011 was like one third on buying scrap coming in the door. This is not even close to 2011. So the intake of scrap and metal is not even close. Even though we’re double the prices we were then. All right, the intake. The intake is not there for this market rise. Which again tells me generationally, Americans don’t own scrap. I mean, that’s in my opinion. They don’t own gold and silver. They’ve been de. Goldized. De Silverized. All right. Over the years. Generational purpose or not, this market as well, when it comes to selling.

1980s was the birth of the bullion market. So there weren’t a lot of stuff. 2011 was crazy on selling gold, silver and bars. I mean, it was just coins and bars, which is crazy. Everyone was buying it until the market got whacked. And we know why it got whacked. JPM got fined $920 million for whacking that market. Not many people remember that. The fine for JPM was because they whacked that 2011 market. All right, it took a while, 2016, before the investigation stuff, but I don’t want to go into that. But this market, again, when it comes to gold and silver bars, we’ve seen an uptick.

But I would say that compare the sales to this market compared to 2011-12, it’s probably half, you know, half the customers may be that, you know, so despite the fact that this is just epic prices in gold, silver and platinum, the public is totally clueless. Pretty much totally clueless. They don’t own gold and silver. And we’re in the end times and they’re all going to be stuck holding paper, you know, and they are stuck paper. The zombies don’t know it. They just don’t know it. They’re zombies, you know, and friends of mine, you know, friends and family, when I talk to them, most of them all get their, you know, there’s a small percentage of us that go out and search news and we search truth and we look for different sides.

But a majority, the vast majority of people in the world, their news and their, their economy and everything they learn financially comes from turning on that television set. When they get home, they turn it on or in the morning and they get there. And we know this because guys like yourself and I, we do research. We’re online mostly. We get a lot of information online. We don’t. I haven’t turned on mainstream media since 2000 when they cheated Ron Paul out of the election in 2008. I turned off all. I haven’t watched the news station since. And I don’t, I don’t.

Occasionally I’ll see it up on the gym or something like that. I haven’t turned on news station since. And I’m smarter too. I’m telling you, I feel smarter because of it. But the vast majority of my friends and family, that’s where they get all their data, all their information. Jim Cramer, you know what I mean? Walking around lawfully unvaccinated, that’s psychotic. So it’s time to admit that we have to go to war against Covid. Require vaccination universally, have the military run it. But, you know, they’re not like us. They’re not like. And I don’t mean that in a bad way, but a vast majority of people out there, good people, you know, all their data is, is derived from that half hour of news from CBS.

They got their favorites. We call them NPCs. We call them NPCs. At least my generation of, of our thinking calls them NPCs. Non blame. They are NPCs. Yeah. And they’re good people. But unfortunately, you know, the, And I can’t blame them. Who wants to go and really dig into the meat of certain things like this? Some of them might, you know, they got a life to live. But again, a lot of this reasons that Americans don’t own gold, silver and they’re oblivious and they don’t know they’re zombies is because of that, in my opinion. Well, that’s another rabbit hole.

I’ll close it off this way and then I’ll ask you one more question. Um, we. The, the way I can put it is before we started recording, we were talking about COVID Right. I got a new book in my background, the Covidiot. And as bad as. As. As much of a nightmare as that was. And it, it changed my life forever. And I will always refer to my life now as, as BC and, And ac. Before Corona and after Corona. That’s Before COVID After Covid. Because that, that was a really, a watershed moment in my life.

But as many as that was the evidence of end times. Yeah, yeah, it was, it was. Now we’re just, we’re just coasting into the end game now. We can debate how far we’re into it, but we’re definitely headed there. So with, with COVID what happened was there was a phenomenal opportunity here because as we all know, they made, they made billions of people. Not us, but we, we held our ground. But they made billions of people inject stuff into their bodies and that. And it killed a lot of people. We don’t know how many, but it, it killed a lot of people and a lot of other people.

It really maimed and injured. And the, and now the, There was a situation where a lot of NPCs listened to the mainstream media, injected something into their bodies and got permanently maimed for it. And now some of them have woken up and said, what the hell did I just do? A lot of them haven’t. A lot of them are fine. Most, most people are fine, but a lot of them got seriously hurt. So that changed things in that, that, that, that made listening to mainstream media actually dangerous for your personal health in a very real way.

Right? So those, those people are more open to listening to gold foil, silver foil hat types like us because we, we’ve, we didn’t know that cove was going to happen, but we saw exactly what was happening as it was happening because we didn’t trust the system to begin with. So NPCs can wake up. They are waking up the ones that don’t wake up and they take the mainstream media seriously. A lot, some of them are going to die, unfortunately. A lot of them are going to get permanently injured, and so a lot of them have already.

So there’s a, there’s a good side to Covid. It does wake some people up and we’re gonna, and not everyone’s gonna wake up, but enough people will and humanity will continue and everything will be fine eventually. It just depends how rough it’s gonna be going through it. So the, the last, the last question I’ll ask is pretty technical, but go off on it however you want. Has. How are you, Edge? How are you hedging your inventory? Has it been any more difficult lately with the craziness in the comex? And how have you been protecting yourself against these crazy swings? Well, it’s funny you mentioned that, because I’ve been putting the message out there in my industry and in my industry we have a form of communication like a teletype.

It used to be called teletype system. Now it’s get shown my age teletypes. We have a system we communicate on. And I’ve been putting out there pretty much that. You know, right now I’m going to tell you how I do it, which is going to surprise a lot of people. But yeah, there are a lot of dealers out there that use hedging and leveraging. You know, hedging primarily to hedge their positions and stuff. Otherwise they’d get whacked really bad because of day to day operations. And my understanding there’s a big issue with hedging even amongst the dealers out there.

Hedging is costing a fortune. They’re not even hedging some of the largest wholesalers out there that are that buy and sell gold and silver. This is a dangerous time by the way too. You could have a completely a good entity that meaning, you know, meaning not a bad company go belly up because of someone else. And that’s what we could potentially be looking at in a. In the coin and bar market right now in this industry. Not coin rare coins, but in the bullion industry. Right now we could be looking at some people going belly up because of issues with hedging.

In fact metal or just announced that they will not metal or buys my gold. I still sell a lot of gold to metal or scrap. All right. They had to close down for a week, you know. And I didn’t realize it was because of the snow, you know. They had to close down for a week. So they’ve stopped. That’s what they said. They stopped for a week taking in any new metal and metal or is a huge operation again. And they’re not hedging. They said on gold they’re not going to hedge. I don’t think people realize that aren’t in this industry how important that is.

Because what happened is metal ore was being the bank. They’re the bank for all these big precious metal guys out there. Because these precious metal guys will go out there and they’ll take their millions of dollars or hundred thousand, whatever it is and they’ll buy gold with it and they’ll immediately send it to the refiner. And when the refiner gets it and looks and says okay, we got this weight, it appears to be this carat. You want front money. So they were able to get their front money. They were able to get some of their money back real quickly that they could put back out on the street.

Well, Guess what? They’re not getting that front money. There’s no front money anymore. So you wait seven to ten days for your lot to get done and then you get paid. This is devastating for the coin and bar industry. People that, that don’t have deep pockets, even the deep pocket guy are loaded to the gills and use that hedging too. So not the ability not to lock in this metal. And again think about the risk on that. You just spent $10 million on scrap gold and scraps, you know, scrap gold. We’ll talk about scrap gold because that’s the only thing you can send into a refiner right now.

And you call up your refinery and you overnight it, you drive it over there, you get it into them the same day and they look at it and typically in the past, that day or next day they’d say okay, how much front money you want. And then you’re covered for the most part because you don’t have to worry about market risk no more. This has profound effects in the coin and bullion industry that most people don’t know. Especially if you, unless you’re in this industry. I don’t think people know how serious bad it is right now.

Let me say it in my words and tell me if I’m right. There could be a situation at X volatility in the futures markets. That hedging will become impossible and the price and the, the price differentials will just seize up the entire retail gold and silver industry and nobody will be able to buy or sell anything anymore. And that’ll. That’s already what happened right now. It’s happening right now. It’s already happened. For example, I’m going to look at one of the major wholesaler sheets right now. All right. And a bunch of them ready from 90% when it comes to the buy side.

Ready. It doesn’t give a bid. Price filled. 40% filled. Hundred ounce bars filled. One ounce bar is filled. Ten ounce bars filled. Kilo bars filled. U.S. morgan. Dollars filled. Peace. Dollars filled. Filled. You know what that means? They’re not buying. It’s we’re here. We’re here already. There is billions of dollars worth of product right now that just sitting in dealers hands. All right. So the lights are already flickering. It’s. Yeah, they’re off. The lights are off. What products are they buying? I tell you there’s two products that they’re buying right now. Silver Eagles and Silver Maple leafs.

Because there’s still a liquidity form right now. Now we’re epic levels. You would think that I could sell my gold or silver anywhere. No, there’s a lot of people out here right now that can’t sell their 100 ounce bars anywhere. They come to me, they go to the other guys, everybody’s saying no. You know, this is not just me that’s saying no. And that’s not just that particular wholesaler. The entire industry saying no to most these products. Right now we’re sending people home. I have never ever in my lifetime itself felt so foreign to me to tell people I’m not buying that I’m a businessman.

Doesn’t that mean to you, doesn’t that mean to you that silver prices are going to go down soon? No. No. Because your first instinct, your first instinct is that were loaded up with so much damn silver. That’s so many sellers. But that’s not the case. We don’t even see, we’re not seeing even a fraction of the sellers we saw in 1980 and 2011. The reason that there’s such a backlog and so filled up because they’re not taking it from us. They’re not taking it from bullion and scrap, they’re taking it from mines probably, you know. And then people say, well there’s other, there’s Scottsdale and there’s all these other refiners out there.

But the problem with that is that even all these refiners out there, there’s more than refiners than just a side metal ore. Alright? But they’re the only two that produce Comex and LBMA rated products. And the only big demand right now for silver is for lbma, Comex, thousand ounce bars. It ain’t retail. Retail ain’t buying this silver. You know, we’re selling a little bit. We had a big busy day last week right after the drop. In fact last Friday after that drop was the busiest day I’ve ever had in my store, ever with buyers. They all flooded in.

Seasoned smart guys. Okay, that’s, that’s important. And then Monday, Monday, yesterday was quiet, so. But we were packed out the door buyers. We had plenty of silver. You know why we had plenty of silver? Because filled, filled, filled. I have nowhere to go with it. I’m sitting, I’m, I’m the holder. I’m a bag man. And if I’m a bag man and my size, so are the other guys. Yeah, right. So, so, so what, what, what you’re describing is, look, if, if people are gonna flood your store on the drop to 75 or whatever it was, that means, it means like we’re probably never going back to sub 50 prices ever.

I don’t think so. That’s it. We’re, we’re in a new, we’re in a new plateau. Not plateau, we’re in a new level here. And it’s going to take a while for the market to figure out where to settle, if it ever does. I don’t even know if it ever will because I, I think we’re, we’re right now next to the silver parabola that goes to infinity in dollars and then that’s it. Then you have to make a new currency. Well, we’ll, we’ll see if I’m right about that. I think, you know, we’ll both see. We’ll both live to see that day if I’m right about soon too.

And you know what? Here, here, here’s a recognition or a pattern that I recognize that was healthy in 1980 in a pattern that was healthy in 2011. A pattern that was healthy now is, and I call it the three steps forward, two steps back in. In all three markets, 1980, 2011 and now is. I notice up until we got to 50 bucks, we were going three steps forward, two steps back. There was a pause, we were moving in these five dollar increments slowly. But you know, we’d move up to, for example, we’d go from 40 to 43.45 and back down to 43.42.

So we had these measured movements that again, I like to call it three steps forward, two steps back up till 50, $55 when we hit that $60 market, went Candlestick. And I recognize that. I said, well, and I recognize it in the 2011 market. I recognize in the 1980 market when we hit that candlestick pattern, you know what I mean? Because what we, after a certain time, like I said, so I think we’re back to that three steps forward, two steps, you know, back pattern again. Right now maybe the speculative longs have been washed out. There’s so many reasons why people talk about the, where silver’s at right now.

But I think we’re back in that and I think we’re going to see, I think we’re going to see over $100 silver sooner than later, in my opinion. I don’t, I don’t think we’re going to see $50 silver, you know, but again, people got to remember we’re not dealing with a free marketplace and a free organic marketplace. We’re not, we’re dealing with a marketplace that there’s a lot of power and a lot of money that can really move things around. And in my opinion, the comics is pretty probably one of the most, I call it the crooked casino that caters to whales.

And, and if you think about it, comics, where do they make all their money? They don’t make it out. You and I necessarily make it off these huge banks that, that take these billions of dollars worth of paper that don’t exist and they make their percentage. That’s how comics makes their money. So they’re going to encourage it when anyway demand goes back. When demand goes back to the retail because you need silver to transact, then all of those bars in the COMEX will be forced into mints and then made into coins so that people can trade.

And, and then once they do, then we’ll be able to make a new currency and hopefully this time it won’t be inflated and we’ll have some honest money for, you know, a few decades before people start stealing it again. The next generation starts corrupting itself. But, or not, maybe we’re headed into some new era where humanity will be honest because the change in human nature or something, I don’t know. I want to say that the United States has gone to a gold and silver standard. We’ve gone back to a golden standard. Silver, Silver standard. When did we do it? When the silver eagle came out and the gold eagle we are, that’s a gold standard.

That is a gold, it’s a, it’s a gold coin with a denomination of $50 on it. It is a real, you know, so we are back on the gold standard in a small, small, small kind of way, which is interesting as well if you think about it. I don’t know if they purposely did that, but really they put us back on a gold standard by making gold and silver eagles. You know, Brian, if you, if you look, if you look at the hundred dollar bill carefully, you’ll see that on one side of it there’s a quill that’s being dipped into a golden inkwell.

Right. There’s gold standard imagery all over the $100 bill that wasn’t on the hundred dollar bill before it. The right side of the bill has all this gold imagery on it. The left side of the bill is more like the old kind of dead federal reserve note bill. And it really kind of goes back to, we’re going to have to go back to a gold backed currency rather than the just paper money system we have now. And this is almost like a takeover of the old system. So what you’ve got here is you’ve got the ink well down here, the gold ink well.

And inside the gold ink well, you can see the Liberty Bell shines through in the right light. And it’s sort of a gold Liberty Bell. You’ve got the gold hundred dollar mark there. You’ve got the gold quill pen right here. And you’ve got this gold watermark. You can see there’s a picture of Benjamin Franklin inside of the gold watermark. And the quill is actually crossing the blue line into the Federal Reserve Note side. And it denotes that Congress has the ability with the stroke of a pen to get rid of the Federal Reserve System and the gold ink well.

It’s not. The pen has not been dipped in the gold ink well yet because the Federal Reserve System still exists. But, man, the imagery suggests that something is going on. And this is, this is. It’s about 10 years old now. I don’t. I haven’t seen $100 bill in a while. But it’s, it’s gold. There’s like gold ink on it. It’s. It’s very obvious that somebody who works. Yeah. Somebody who works at the mint is a gold bug. It’s. It’s strange. Yeah. So I mean. Yeah, we are kind of a. And you know what it kind of be.

Well, I’m moving on. I’m going in rabbit holes. But there was a case many years ago where a guy paid his employees with silver eagles based on the dollar value, not the silver value. And he got taken to court and he lost. But I heard he won his appeal eventually at some point. But there was an employee that gave it, paid his employees like 25 Silver Eagles, and then they would be taxed on the dollar value, the $25, not. And this is a true story, not the value of the silver. So that’s kind of a gold standard, isn’t it? Silver standard.

So, yeah, that’s. That’s one of the ways the IRS cheats. It counts legal tender in terms of the silver value and not the dollar value. So if they allowed that, then nobody would have to pay taxes anymore and be done. But we’ll get there because in the end game, no one’s gonna, no one’s gonna pay taxes anyway because taxes will be worthless. And then, then we’ll restart the system on our terms. But Brian, it was, it was good talking to you. Always a pleasure. Commercial rare coins and precious metals at Lauderdale by the Sea. Fort Lauderdale in beautiful Lauderdale by the Sea.

Yes. So if you’re in Fort Lauderdale or you’re checking out Florida, anywhere near there. It’s on Commercial Boulevard in Lauderdale by the sea. You can find it on Google pretty easily. And if you’re not. If you know, Brian, I’ll tell you that if. For hedging, you might want to talk to Keith Weiner. I have a whole. I have a bunch of silver in, in my monetary metals account. Right. And I, I’m affiliated with them. So if, if anyone wants to, you know, sign up to Monetary Metals, check the link in the description. But you can lease silver there and through that you can hedge your inventory and you pay.

And you as a merchant would pay, would pay interest on a certain many ounces, whatever your deal flow is or whatever. Yeah, yeah. And you could, you could hedge that way. And that’s how Keith makes markets and how he keeps coin shops and other silver and other silver merchants in business without having to mess around with features. So check it out. I’ll introduce you. He’s a nice guy. I’ve actually conversed with him online a couple times. And him and I have, you know, are, you know, about different things. But yeah, I like Keith a lot. And actually one time he said he’d do a video with me at some time.

So I’d like, I’d sure love to talk to him at some point because I would like to talk to him about mining and I like to talk to him about his business and things he do, which is, you know, again, my specialty is. I’m never going to pretend I know that kind of stuff. My specialty is what I do. So, you know, I talk with conviction and strength when I talk about my industry and the kind of things I do. But I’m. I’d love to learn more about that kind of stuff. And Keith is certainly. And his business is certainly pretty cool.

So. Thanks. I’ll try to make it happen. Yeah. All right. All right, Robbie, have a good day. And I will speak to you again, I’m sure. Cash. Cash. Cash for your bones. Too many bones. Not enough cash. Call Cash. Bones, ribs, skulls, spies, even certain tiny ear bones. The leg bones connected to the cash bone. It.
[tr:tra].

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