Rafi Farber: Silver Remains Above $30 Despite Low Physical Demand

➡ The article discusses the current state of the gold and silver markets, noting a recent rally since June 27th but advising caution due to high open interest. It also mentions that gold and silver are at record highs in platinum terms, suggesting it’s a good time to buy platinum. The article also touches on potential economic threats behind closed doors, such as Japan potentially selling US Treasuries if interest rates aren’t lowered. Lastly, it discusses Fortuna Mining’s increased gold production and the potential for precious metals to become more recognized as money by the public.
➡ The value of silver is rising compared to other commodities, indicating a healthy bull market. This is due to silver’s monetary demand, which increases as the dollar weakens. Currently, it’s a good time to buy physical silver or gold as premiums are low. There are also speculations about behind-the-scenes negotiations between central banks, like the Bank of Japan and the Fed, which could impact currency values.
➡ Rafi, the Endgame Investor, suggests that current leaders involved in the issues from 2020 to 2022 should be replaced. He believes they can’t lead a country that’s become overly focused on medical matters. Rafi thinks we need new leaders, whether chosen democratically or not, as things are getting tough. He plans to discuss this more in his next Patreon video.

Cargo pants, and I don’t know what the hell kind of shirt he’s wearing. He looks he always looks like an idiot in my opinion This guy’s a much better dress. That’s a nice kaffir there. Look at that Well, hello there my friends Rafa here from the endgame investor with this week’s solar report for Arcadia Economics. I’m sorry. I missed you guys last week. I had fallen slightly ill and Chris gave me a week off Thank you guys. Thank you Chris and Yara I am better now and we can continue it looks like we have a little bit of a rally since around June 27th I would be a little cautious of it though We could get whipsawed here because it looks like open interest has gone too high too fast in the gold market Which is reflected of course in the silver market It doesn’t necessarily mean that this rally won’t be sustained But it does mean to stay cautious here and not to buy fully emotionally into this rally since June 27th We could see a few more drops from here in the short term though Compared to commodities in the silver and gold to commodities ratio We look to be in a healthy bull market that continues with a decisive break of the 200 week moving average And we should continue higher and higher into eventually the endgame silver keeps hitting new highs Relative to platinum and yes platinum is also at all-time lows relative to gold So both gold and silver are at record highs in platinum terms Which means if you’ve always wanted some platinum and you’ve always wanted as part of your stacks Now is a good time to get a little bit silver premiums have been dead on arrival for a while now The markets the physical markets have calmed and still despite that Prices hover near all-time highs in gold and above 30 in silver So imagine what happens at the price when physical demand comes back into the picture.

We have word out from Bloomberg that Saudi Arabia threatened to sell a bunch of European bonds if Russian assets were confiscated which has me thinking What is going on behind closed doors between Japan and the US? Very easily Japan could threaten to sell a whole bunch of Treasuries if the US does not lower interest rates and erase the spread between the yen and the dollar which is weakening the yen which is now near 162 yen per dollar a 1986 low there’s a lot of threats going on behind closed doors.

We just don’t know what they are Make a move and the bunny gets because we’re not part of the world something organization of whatever What is it called the new world order who knows and finally as I wrote on the endgame investor on sub stack the Unemployment numbers show that we should be in the next and I believe final recession any time now Because it’s been 14 months since the unemployment rate bottomed And that’s usually how long it takes between the unemployment rate bottoming and the next recession to become Official and this one is going to be a nasty one because we’ve got a lot of banks that are hundreds and billions of dollars Underwater where we get to the slides this week silver report is brought to you by Fortuna mining symbol FSM with the s4 It’s a legacy letter for silver because we all know where they came from and we all know where they’re going The latest dudes from Fortuna mining is good news symbol FSM Vancouver British Columbia July 9th Fortuna mining reports production results for the second quarter 24 from its file operating mines in West Africa and Latin America gold equivalent production of one hundred and sixteen thousand five hundred and seventy ounces a 25% increase compared to quarter two of 2023 and a 4% increase increase Sequentially compared to last quarter q1 of 2024 gold production was ninety two thousand seven hundred and sixteen ounces of 44% increase over q2 of 2023 and a 3% increase sequentially from last quarter Silver production is down But it is more than made up for by the increase in gold production as we see Fortuna is becoming more of a gold miner as we move into The months ahead.

Well, yeah, of course, it’s gonna be ahead can’t move behind And if you look at the five-year log chart, we can see here that we are at One of the final resistance zones of the last five years that we touched in October 2021 If we can break through here and sustain it We could be in a new trading range for a Fortuna in the medium to long term And we won’t have to deal with the three dollar to five dollar zone anymore As we head into an environment where precious metals become more and more recognized as money by the public I did notice yesterday meaning Wednesday of this week that there was some pretty good signs of Strength in the miners in general and fortunate being one of the stronger mining companies I think this stock will continue to outperform and as full disclosure I do own FSM and so with that, let’s get to today’s Presentation.

So first of all, we have this chart of open interest that I got from Gold charts are us as usual and it’s a little bit doctored I doctored it because I wanted to bring it to update with the CME website This chart is usually on a one-day lag. I wanted to show you today’s open interest numbers and today is Thursday as I’m recording This it is right now. It says here 116,324 contracts, but the actual number is 529,950 if I remember correctly So I put in the candlestick over here a little bit taller by adding in this color and I did it all in paint I am an amazing modern artist and you can ask me for paint tips in the comments below I’ll be glad to answer any questions So anyway, we have this open interest chart You can see here that open interest has really climbed since the June 27th bottom in gold And of course silver follows gold here.

I’m using the gold chart as a proxy. So June 27th We had a low of about twenty three hundred dollars and now we’re at the close to twenty four hundred I think twenty three eighty last time I looked at wherever it is now when you’re watching this I don’t know So we had a low here of about four hundred and forty thousand contracts on that low in the in the gold market and now We’re at five hundred and thirty thousands. That’s ninety thousand contracts not much of a price move But a big move in open interest that’s making me a little bit nervous This open interest is making me nervous I’m not really nervous.

It’s more than I’m just being cautious here. I don’t quite trust this rally in term in dollar terms At least I’ll show you the rallying commodity terms, which is much more promising I still think there could be some whipsawing action the days maybe week or two ahead Just stay cautious here and expect it and play Play nice basically, so That that doesn’t mean that is this is a fake rally it could be real But because you look here in March and we did have a major rally in price here and a huge rally in open interest and Then what we really want to see is this though, right? This is price moving up from about 2150 It looks like to a high of a 2450 so we had about three hundred on move here and open interest didn’t really do much At all that keeps the bullish Fuel alive as long as you don’t keep rising and rising in open interest We saw remember when open interest hit an all-time record of eight hundred and fifty thousand contracts That was in the eve of the March smash which took a lot of people out of the game Unfortunately, so for that reason just stay cautious here if you’re trading especially if you’re stacking doesn’t really matter that much because premiums are very low right now And you can still get a pretty good deal on physical call miles Franklin and mention Arcadia economics Of course, I’m don’t remember if I talked about this previously two weeks two or three weeks ago But silver has that an all-time high relative to platinum This is actually the platinum to silver ratio how many ounces of silver it takes to buy one as a platinum now I don’t recommend stacking platinum I never did but if you’ve always wanted some platinum just to diversify just to have it because it is a really cool metal to Own now would be the time to exchange some silver if you have any extra or too much in your safe Or it’s too heavy or whatever you want to free up some room Then you can take some of your silver and buy some platinum at a very good deal right now It’s about 32 ounces see how the ratio is 32.07.

That’s what it is today as well So it takes 32 ounces of silver to buy one ounce of platinum and we’ve only gone below that one time in history And that was in 1980 When we’re about 18 close to 15 to 1 and there was that 15 to 1 ratio again in an endgame I guess it also goes that way in platinum as well But yeah, you’re not gonna get much better prices than this I don’t think in terms of platinum for silver if you want to do some trading or Maybe miles Franklin will take your silver and give you some platinum could be ask Chris.

He knows he would know it’s his channel Gold at all-time high versus platinum one more thing about platinum. You can see that if you want to trade some of your gold I am NOT trading gold or platinum I don’t have that much gold and I want to keep it But if you have a little bit more than you want and you want some platinum is said it’s a good time to trade Some gold for platinum if that’s what you want Silver premiums are dead on arrival. We’re at 7.96% Premium on junk silver relative to the spot price This is prior almost prior to silver squeeze silver squeeze is right here Where I am circling and the beating of 2021 there was this big jump on silver squeeze and then we moved up from there to about 50% Right before 2023 about October November 2022.

We’ve been going down ever since Demand is kind of soft right now and I see that on my channel as well So this is gonna wake up Pretty soon. I think after the next banking crisis is gonna wake up very powerfully And we’ll see what happens then But if you want to get a good deal on physical silver or physical gold right now Now’s the time to buy because premiums are very very low Silver versus commodities continuing healthy bull market So we talked about how I don’t trust the dollar rally so much or the current ones this June 27th very minor Short-term rally here.

But what I am seeing on silver versus commodities is that we have broken decisively through the 200 week moving average we broke through it once here and we settled back down to test again And now we broke it through it again. So it looks like we’re decisively above the 200 moving average This is a very rare signal as it goes silver bull markets relative to other commodities It means that the value of silver is rising relative to other commodities because it’s a moneyness is starting to wake up again And the logical way that work is that other commodities do not have monetary demand silver as monetary demand and everyone needs money therefore everyone needs silver as the moneyness of silver is recognized so this bull market should continue higher and higher as The moneyness of silver becomes recognized as the dollar fails because as the dollar fails people with currency are gonna realize they have nothing And they’re going to need a money and there is no spontaneous agreement on money It has to go back to the past and the past is gold and silver and silver is the public and gold is the banks That’s how it is.

That is monetary reality and there’s no arguing it really I mean you could it just doesn’t make any sense So anyway, we had the break of the 200-week moving average in 2008 which led to a huge rally up to the $50 top This top relative to commodities was not as high But this was the $50 top around here in May 2011 We had another break of the 200 moving average around here in 2015 at the end of the gold bear market That sealed the end of the bear market that break of the 200 moving average Another break of the 200-week moving average relative to other commodities right here Prior to the all-time record high of silver relative to other commodities at about point two two point two three or something like that And we have another break over here.

This is the fourth break since the 2008 financial crisis These are very rare signals pay attention to it now because even though you might be whipsawing relative to dollars I think we are on the next leg up relative to other commodities in silver This is an interesting story, and I wanted to transpose it on something that might be happening in the currency markets I don’t have any direct evidence of this But I don’t see why it wouldn’t be happening especially if the Bank of Japan would be panicking so we have this is from Bloomberg This the title is Saudis warned g7 over Russia seizures with debt sale threat The Saudis did not want Europe to seize Russian assets from its central bank anything It was stored in other European central banks like the European Central Bank touche And so apparently this made the mainstream media Read the first paragraph here Saudi Arabia privately hinted earlier this year that might sell some European debt holdings at the group of seven Decided to seize almost two hundred billion dollars of Russia’s frozen assets people familiar with the matter said so Saudi Arabia is playing both sides here.

It’s on the US’s side and it’s on Russia’s side and let’s see what move they make when The US eventually falls monetarily It’s gonna be an interesting story in Saudi Arabia, and why doesn’t this guy Zelensky is his name Why doesn’t he ever wear anything respectable? He looks like a bum Or like a like a street bum with the cargo pants, and I don’t know what the hell kind of shirt He’s wearing he looks he always looks like an idiot in my opinion this guy’s much better dress That’s a nice Kefir there look at that But anyway, it says the bottom here the Saudi specifically mentioned debt issued by the French Treasury they threatened They threatened they threatened the French to sell their debt Wow so my point here is to Speculate that if this goes on behind closed doors, and that’s how they stop Europe from selling From seizing Russian assets basically what is going on behind closed doors with the Bank of Japan and the Fed it could very well be that That if the yen starts to really collapse it could be that The Fed will lower interest rates in order to save the yen because otherwise the Bank of Japan is gonna have to sell a lot Of treasuries, and I don’t think the Fed wants that so we could be having these same threatening conversations between those two central banks You could ask yourself question Do I feel lucky I don’t know if this is happening But if I were the Bank of Japan and I had a collapsing currency And the only thing I could do was sell you as debt or watch my currency collapse.

I would let the Fed know And tell them to lower interest rates so they would erase the spread between the dollar and the yen and save my currency This is just rational thinking here Finally, I wrote about this on the endgame investor on sub stack Please subscribe there at endgameinvestor.substack.com You can subscribe for free and of course if you want to support me become a paying subscriber for a very small amount of dollars We have here unemployment numbers by unemployment numbers. The final recession should be due At any time I put here the unemployment rate.

So we have here I highlighted here each time the unemployment rate bottom pre prior to a recession we have here may march 1989 at 5% 16 months later we had the first gray area here. That is the 1990 recession April 2000 unemployment rate bottom of 3.8% 11 months later 2001 recession and that accompanied with it the dot-com bubble burst, etc. Etc. May 2007 That was the low in the unemployment rate prior to the 2008 great financial crisis Seven months later 60 months 11 months 7 months I’m discounting this because it was locked down induced and people tell me that I shouldn’t discount it But I am because this was a special case here.

This was artificially Induced unemployment. So we have here April 2023 a bottom in the unemployment rate at 3.4% And now we are at 4.1%. The trend is clearly up now It’s been 14 months since the unemployment rate bottoms the longest we have here is 16 months So it could be two three four months out ahead. It’s measured in months is the point here The next recession has to be months away. I don’t know how many months I don’t know what other wrenches are in the system to help prolong it But it’s not going to be many years from now and once we hit the final recession We will hit the final printing round and once we do that I personally believe we will be on a beeline for the endgame You can disagree with that.

You could say maybe there’s one more cycle ahead I don’t think so because I’m looking at the curves and they look more vertical and closer to that stage And maces is cracker boom should be ahead This is rough of the endgame investor if you like this video and subscribe to the endgame investor on sub stack where you can get this stuff three to four times a week to have a front row seat to the endgame as it occurs And you can also become a patreon patreon for as little as three dollars a month to get my biblical ideas regarding money and government And other topics that we discuss on our channels all the time on the next patreon video We’re going to talk about why the entire leadership needs to be replaced because everyone who was involved in the crimes of 2020 to 2022 Cannot lead any country if it became a medically obsessed country And we all know what i’m talking about then all those leaders have to go Because they are incapable of leading their people and we need an entirely new slate Of leaders whether it will become democratically or not We’ll see what happens because things are getting rough.

This is rafi endgame investor. I’ll see you guys next week Foreign
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