➡ The Federal Reserve is expected to reduce interest rates by 50 basis points in July. This comes after a period of rate increases in 2022 and 2023, which took longer to pivot than anticipated. The change is attributed to various global events, including tariff wars, real wars, and central banking wars. The speaker, Tom, is known for his expertise on these topics and predicts the rate cut based on his analysis of the current economic conditions.
➡ The article discusses the current economic situation, focusing on the potential for interest rate cuts. The author suggests that Powell, presumably Jerome Powell of the Federal Reserve, should have cut interest rates by 25 basis points in June, but didn’t due to lack of data. Now, with more data and wins from Trump, the author believes a 50 point cut in July is possible, and perhaps another 50 in September. The author also discusses the Hong Kong dollar and its significance in the global economy, questioning why it needs to exist.
➡ The article discusses the potential economic impact of tariffs and inflation on global markets, with a focus on the Hong Kong dollar, European Union, and the U.S. dollar. It suggests that certain individuals or entities may be trying to manipulate the Hong Kong dollar, which could affect European markets. The article also discusses the possibility of increased tariffs on the European Union and the potential for this to impact the price of goods, such as BMW cars. Lastly, it explores the potential for supply shocks and inflation to disrupt the economy and the possibility of changing the 2% inflation target.
➡ The speaker believes that silver is set to enter a significant bull market, potentially reaching between $80 and $150 per ounce in the long term. He advises against daily or weekly monitoring of silver, gold, and copper prices, suggesting a focus on monthly, quarterly, or annual charts instead. He also mentions the potential for silver to reach its all-time high of around $50 per ounce in the near future. However, he warns that the market is unpredictable and manipulated, so these predictions are based on his experience and not hard data.

Fed to cut by 50 basis points in July. And Tom, if I can just set the context for one moment here, obviously when, or maybe not obvious to everyone, but when the Fed was raising rates back in 2022, 2023, and everyone, especially in the gold and silver community, was saying, all right, well, we’re going to get the pivot soon. Took a lot longer to arrive than most of us thought. You were quite adamant that it wasn’t going to come as quickly as people thought. So you were certainly correct on that. Which makes what you’re saying here that they’re going to go 50 in July, which I’ll pull up the futures pricing, but.

So seems like something has changed. And with that said, anything you could share about what you’re seeing now? Well, hello there, my friends. Chris Marcus here with you for Arcadia Economics. It is Monday, June 30, and as you might be able to tell, I’m damn excited because look who I have on the other end of my zoom communication, already warmed up with his cigar in hand. And I guess with everything going on in the world, gee, I guess was probably late last year when we talked, Tom, before we had, might have even been before Trump was elected.

And now we have tariff wars, real wars, central banking wars and a whole lot of other stuff. And I know that you’re one of the more well versed people on a lot of these topics. And actually I saw you had a forecast out that we’re going to get a 50 basis point rate cut in July, which sounds exciting. So, Thomas of Gold, Goats and Guns, fan favorite legend in the industry, how are you today, sir? I’m good, Chris. That’s a, that’s way too much praise for what I do, but I appreciate it. Thank you very much.

Well, you were kind enough to put up with my music questions, inventing about life for a half hour before we hit record, so. That’s true. You know that I, at this point, to be honest with you, dude, I’d almost rather talk about that stuff than what is actually going on in the world, because that actually brings a smile to my face as opposed to what I’ve been saying so. Well, with that said, let me pull this one up first because this came into my inbox and as we’re on June 30, one day away from July, there’s Tom Luongo saying World War 3 now averted.

We will certainly dig into some of the military escalations that are going on right now as well. Although fed to cut by 50 basis points in July And, Tom, if I can just set the context for one moment here, obviously when, or maybe not obvious to everyone, but when the Fed was raising rates back in 2022, 2023, and everyone, especially in the gold and silver community, was saying, all right, well, we’re going to get the pivot soon. Took a lot longer to arrive than most of us thought. You were quite adamant that it wasn’t going to come as quickly as people thought.

So you were certainly correct on that. Which makes what you’re saying here that they’re going to go 50 in July, which I’ll pull up the futures pricing, but. So seems like something has changed. And with that said, anything you could share about what you’re seeing now? Sure, it’s a good question and it’s a fair point. At some point you have to say, you have to read all of what’s going on. Like, so we have Trump, and now even Scott Besson came out this morning and said that, you know, he’s finally starting to throw Jerome under the bus a little bit.

My boy Powell, as it were. Under the bus, as it were, for not having cut. So let’s go back to last summer. I kept saying last summer, like, Powell’s not going to cut until at least June. Hopefully he won’t be able to. He will be able to hold off until after Jackson Hole, because, you know, depending on if economic conditions started to deteriorate, he did hold off until September. If you know what? I remember what he did then. Everybody wanted him to cut at the July meeting 25 basis points. He refused to give them that cut.

Then he cut 50 basis points into September. And the reason he cut 50 points, I said cut 50 points in September. Two things. One, he didn’t want to cut in July because any effect, any good effect would then cascade to help Kamala Harris win. I was on the other side of the trade saying, look, Powell’s not cutting in order to torpedo Harris’s ability to win the election by keeping credit really tight and, and whatnot. But then once we get into September and it’s too late for anything he does to affect the economy that the Democrats would be able to run on, then he can cut 50 to let everybody know.

Yeah, no, things are bad in the credit market. So in the bank, you know, so. So it’s what he did. And then he cut twice more into the end of the year, cutting a full percentage point last year from five and a half down to four and a half. Perfectly reasonable. I might have been off by 25 basis points. @ the end of the year or whatever. Now what I did say back then was that I thought he would cut more aggressively under Trump because Trump’s plan was to fix the fiscal position and fix everything else and fix things faster than he would have cut under.

Harris won. Had Harris won, he probably would have raised rates, to be honest, because you knew that they would be inflationary and as in they wouldn’t fix any of the fiscal stuff. So now here we are six months into the Trump’s administration. He hasn’t cut yet because frankly, Trump hasn’t put any wins up on the board. Real wins. From a fiscal perspective, from the perspective of the Federal Reserve, has he put up any, any wins on the board? Not really. Like as of June 18th, you have it. You can argue that Powell is the one that’s cut inflation, that Trump hasn’t actually cut in the inflation.

What Trump has been doing has been laying the foundation for the future. And that’s great. And what Trump, I’m, I’m not trying to throw Trump under the bus or anything. I’m like, I agree with 90% or nearly 95% of what he’s done so so far. But from Powell’s perspective, there’s got to be a little bit of show me at this point because the build the big beautiful budget reconciliation hasn’t passed yet. Probably going to pass this week or at least voted on. This week we were in the middle of a 12 day war between Israel and Iran which could have easily turned into a 12 year war.

It didn’t happen. That’s to Trump’s credit. But as of June 18th, if I’m Powell, I’m like, yeah, dude, sorry, no win yet. You haven’t fixed anything fiscally like you’ve started the process of fixing stuff fiscally, but we still have a situation where oil could go to $150 a barrel and inflation goes, you know, goes haywire. And what am I supposed to do? And moreover, you’re throwing me under the bus publicly and I’m supposed to be independent. So. And I still think that what Powell’s been doing has been putting pressure on the dollar mark, the offshore dollar markets by keeping rates high.

Now is that delaying the breakout of the American economy under what Trump investing are trying to do? Yes. Agreed. Does it matter if you’ve got that level of investment coming in? No. So there’s two things that are going on here. If we’re getting close to a kind of sovereign debt crisis, this is where the PM guys, the precious metal guys in the AUDIENCE WILL ALL START TO CHEER Excuse me, I’m still on their side, right. PM being precious metals. Go ahead. I’m sorry, Tom, just because you said if we are getting close, could you take that a step further? Do you think we are getting close as you, I mean, I mean, Martin Armstrong and I have been, and others have been talking about this for quite a long time now, but I think we’re getting, I think we finally have the catalyst for it, which is that the United States has really begun to change the investing environment here.

We just had Trump cleave the Gordian knot, at least the beginnings of cleaving the Gordian knot of Iran and Israel. And so now the Middle east can begin to repair itself. There are people out there who don’t believe this and I think they’re frankly not coping with the facts on the ground and they’re continuing to invent facts that aren’t true, meaning that Iran wasn’t beaten and that Israel, you know, didn’t get hurt as badly as people think they did and blah, blah, and, and look, at the end of the day, the United States put the hammer down and said, we’re in charge of the situation here.

And the Russians said the same thing. Israel, Iran is for the most part solved as long as you can get rid of any old Davos City of London influences in both governments, which I think is pretty clear at this point in my mind, my reader of the world, that there are influences on both sides. And I honestly think that this was meant to be one of another, one of those endless conflicts that was never supposed to resolve itself and be a kind of blackmail from the entire world that these two could always like, start, go nuclear tomorrow and then.

And at the point now where I’m like, anybody who’s blackmailing me with nuclear fire, yeah, they need to be like slapped down and I don’t care who they are. I’m at that point. So that’s part of the situation there. But what we’re seeing now, this is a long way winded way of saying Powell probably should have cut by 25 basis points in June. Right. But the data wasn’t there, the winds weren’t on the board. None of it was really settled. We’re now starting to get settled. We’re now starting to get wins from Trump. We’re probably going to get some data in.

Oil’s back in the 60s, war has been quote, unquote, averted. Oil’s in the 60s, inflation’s still light and probably going to continue to be Light. Because the data is pretty clear that we’re in a commodity cost push inflation environment where the CPI is still directionally tied to the price of gasoline, which I’ve talked about a thousand times, and it’s been going on since 2021. Until that relationship breaks, you have to consider that we’re in a cost push environment, not a demand pull environment. Now Trump is selling this demand pull that’s coming, and that’s why we can cut interest rates down to 1%.

Like, that’s nice, Don, you’re jumping the gun. We’re not there yet. Sorry. That’s the data. So, and if I’m Powell, I’d be telling Trump the same damn thing. I’m like, that’s nice, dude, but put some wins on the board. Oh, you put some wins on the board. Now I can cut. And to make Trump happy, which I think he wants to do, I think at the end of the day, Trump, Powell, should do is signal, yeah, we can cut by 50 now because we’re starting to see the right demand pull and we’re getting. And we’re starting to see some softness in the housing market in certain areas.

And the labor market’s not as. I mean, Trump wants to sell that the economy is doing great. We can lower interest rates. That’s not what you do when the economy is doing great, dude. That’s the whole point of monetary policy. It’s like you try to stay close to the neutral rate relative to growth. Well, Trump is literally. It’s dumb. So, fine, if Trump wants to get rid of the Fed, that’s fine. I’m okay with that. But if that, and if that’s his overall goal, which is to change the role of the Fed in our economy, that’s great, that’s fine.

I have no problem with that. This idea that he’s going to strong arm the Fed chairman into going back to 1% and not ignite a amount of inflation. Well, you know, okay, dude, you’re not, you’re not there yet. Like, because the budget reconciliation bill isn’t that, isn’t that thing. Okay. There’s a lot more work that needs to be done to fix the fiscal side of the equation permanently. We’ve got some things. He’s got to negotiate a trade deal with the European Union or finally put the full tariff weight on them and break them. So there’s all these cross currents I see happening.

And the solve at this point is, yeah, no rate cut in June, keep the, keep the offshore dollar markets tight, and then go for a 50 point cut in July and possibly and if he needs to, you can go another 50 in September. But I’m still targeting around, you know, three and a quarter to three at best. I said at the beginning of the year I thought we would be at 3% at the end of the year. We can still get there. I can say three and a quarter, I can say three and a half. But you know, I saw, I said 3% at the end of the year and I think that’s what Powell’s, you know, still on pat on the, you know, on, on the path for so and it may be more aggressive than we wanted it to be.

But here’s the thing, and this is the reason today that I’m really thinking 50 basis points in July is have you been watching the Hong Kong dollar? This is the fun one. I know this is going to sound like a gish call up, but it’s not. There are two significant currency pegs left in the world. The Hong Kong dollar and the Saudi Riyal. The Hong Kong dollar has been pegged at the top of the range now for over three weeks. In the 20 years I’ve been watching markets, I’ve never seen it. Okay, and Tom, that’s also right as they are increasing their gold infrastructure to ahead of the BRICS summit as well.

There’s that as well, but there’s a lot going on in that. If you watch the cross, if you watch the, the currency crosses with the Hong Kong dollar, you realize that the Euro is still rising rapidly, the pound is still rising rapidly, but the Hong Kong dollar and the Singapore dollar are falling. And the dollar index is falling because most of the Hong Kong dollar, most of the dollar indexes, the Swiss franc, the euro, the pound, the yen and the Canadian dollar, that’s like 90% of the Hong Kong, that’s like 95% of the US dollar index.

So precious metals guys looking at the dollar, looking at the USDX going, oh, the dollar’s failing gold, no, it’s not about that at all at this point. Gold’s part of it, right? But it’s a reflection of this. But what’s really happening is that there’s a massive demand for dollars out there. Powell’s keeping dollars tight, making them expensive to go get, right? And that’s putting upward pressure on the European bond yields. You’re seeing the two things happen at the same time right now. You’re seeing the Euro rise and the German 10 year refusing to fall no matter how much the ECB cuts rates.

The German 10 year is pegged between 2.5% and 2.6%. And it’s creeping higher. Guess what’s creeping lower in yield? The US 10 year and the US 30 year. So the long end of the US yield curve is falling because there’s demand for dirt, because demand for duration is coming and, and, and, and duration trades are on and a lot of trades are unwinding and Lagarde is making the euro more, you know, more available. And she can’t go, and she can’t get the, she can’t get the long end of the curve to come down. Right. She’s lowering rates and the German tenure sitting there.

And this is what’s happening now. Powell needs to do the same thing. That’s another reason why he needs to go to 50 basis points. Because right now we have a dip in an emergency. We have a concave yield curve. So I can see 50 basis points in July in order to alleviate that. As a matter of fact, I’m like, what the, the, the, the return of that concavity in our yield curve, I think it’s very clear, was coming from our European partners. And we saw this in the tick report, buying tens and selling tens and thirties and buying twos, doing exactly the same thing that Janet Yellen did when she was Treasury Secretary.

But once Yellen left the scene, Powell got the yield curve back to almost normal. And then it’s inverted again in order to try and sell a recession narrative in the United States. The tariffs are evil, blah, blah, blah, blah, blah, and it’s failing. They’re going to have to unwind those trades. Long end of the curve is going to fall. The belly of the curve is going to start to rise a little bit, and Powell will be able to cut rates by 50 to 100 basis points. And we have a normally up sloping yield curve. That’s what I think is coming.

I may be wrong, but that’s what I think is coming. And, you know, all that Powell needed was for Trump to put up some wins to, to say, yeah, okay, fine, now I can cut rates because you’re starting to fix the fiscal side of the equation. And, you know, and I’ve starved Europe of all their capital while the Treasury Secretary, I think, is clearly, I think, is running a, an operation to drain the LBMA and bring all the gold into the United States, which has been happening. Right. We’ve been importing hundreds of tons a month of gold into the United States.

Where’s that coming from? It’s coming from London and Zurich and, or Singapore, and we know that they’re importing gold into China. So the big question I think everybody should ask themselves, and I don’t have a good answer for this, but this is the question that started to creep into my head a couple days ago, which is, why does the Hong Kong dollar even need to exist? Why does the Hong Kong dollar exist? Why Hong Kong’s China? Right? Why do we have three Chinese currencies except that one of them is controlled by City of London? So watch the Hong Kong dollar.

I think somebody is trying to break the peg. And if you want me, if you want my honest opinion, I think it’s Scott Besson. And I think they know that they can drain Hong Kong and break that peg. And when they do, that will be the last source of easy carry trade money to dollars to keep the European markets liquefied. Because at some point, Trump is about to put 50% tariffs on the European Union. With the euro at $1.18, that’s like the ultimate win. Like, no one in America is going to buy a BMW ever again because BMWs are going to be.

Because, you know, M3s are going to be a hundred thousand dollars. Okay, so. Or, you know, the price of the BMW is going to go up and they can’t, they can’t export the thing or BMW is going to sell BMWs at a loss in the United States, one or the other, they hold the prices steady. They’re gonna have to take the loss. I’m okay with that. Like, I’m at the point now where I’m like, the Germans, the French, the British, the Dutch, these people, like, they’ve just, they’ve tried to destroy. They’ve tried to destroy my country.

And they’re trying to. And they’re trying to turn the world into their ever more technical, perfect, technocratic superstate. And I’m like, no, you don’t get to do that anymore. We’re in charge of the dollar and in charge of the pricing of the dollar. And it’s. That’s. That’s what’s happening. And we’re watching the power of that start to creep its way into the world. That’s what I say. For better or for worse. Take it or leave it. I don’t care. That’s what I think. I like it. And I can picture the ticket sales for Tom’s European summer tour just flying through the roof right now.

Though, Tom, I think you’re holding back a little bit there on your true feelings. But. Well, a few things that we’ll touch on. I’d love to get more insight into what Mr. Besson may or may not be doing. And we’ll also talk about the imported gold. But let’s finish up with a few thoughts here on Powell, because I’ve been looking at this one for the last month. This was a speech he made on May 15. I’ll pull up the date in case anyone really wants to see if I’m telling the truth there or not. Didn’t see much coverage of this, although there were two comments in particular that could be factoring into what you’ve just been saying.

First, he mentions higher real rates may also reflect the possibility that inflation could be more volatile going forward than in the inner crisis period of the 2010s. Then he says we may be entering a period of more frequent and potentially more persistent supply shocks, a difficult challenge for the economy and for central banks. Like you pointed out, he keeps going doing these press conferences saying the economy is strong. Doesn’t sound like quite what he’s saying there. Although also in this article how. What. What is he going to do about that? Well, reflecting these concerns, we adopted a policy to make up for persistent shortfalls from the inflation.

Hopefully we’ll get the plan soon of what’s going to happen with the surplus we’re still paying for, but given downside risk to employment and inflation to the lower boundary we said that following periods in which inflation has been running persistently below 2%, we’d like to aim to achieve inflation above 2% for some time. Are we getting ready for the explanation of why 2%? Which by the way did you know that was actually Bernanke who came up with the 2% mandate? I do at least formalized it. I had not known that. I have heard the clip of Judy Shelton talking about how Paul Volcker said it was bullshit and that his mother would have called it skimming and had seen right through it.

So I guess two main questions from all this. A are you concerned that we will see? I’ve heard the phrase empty shelves in July or supply chain disruptions and B we getting ready to hear how 2% actually isn’t what came down on the tablets and it needs to be higher. We are still dealing with supply shocks. Right. Great article out of Zero Hedge the other day about beef prices for example. Right. Which was obvious from COVID that once we started slaughtering heifers out of our herds that there’s a five year replacement cycle on cows. So five years to the day the herd sizes are finally starting to creep back higher.

This is why We’ve had massive, massive food inflation. There’s going to be a reorganization of the global economy. Like tariffs are going to, aren’t going to make that easier. They’re actually going to affect that. So you have to, you know, they’re going to put that into effect and that means that we have to spin that production up. We have to reorganize those people. We have to get them into those jobs. We got to get the capital allocated and you know, the earth movers built and this and all that stuff. Right. So yeah, like I can see what, what Powell saying, simply put that you’re going to have periods where you’re going to have.

It’s where you’re going to see supply shocks happen in fits and starts. Like as capital, you know, as the limited supply of the stuff. We need to actually re. Reorganize. The economy gets pulled away to different places. So you’re going to have one industry do well, but that’s going to keep another industry from growing and blah, blah, blah, blah. Right. So we’re see a lot of that stuff and we’re still seeing. And we’re going to see it for a while until we can rebuild all that. Until John Deere can then make more freaking tractors or Komatsu can make more backhoes and Bob, all of that.

Right. Okay. Do I think that Powell is going to do away with the 2% inflation target to go to 3%, which is what the precious metals guys all want to believe? I don’t know. I don’t think that’s necessary. I know for. I know. I don’t want to believe that. For what that’s worth. I mean. Yeah, no, no, I mean I’m talking about not, not you. I’m talking about like the general, the general PM crowd wants to be right about everything as opposed to like accept the fact that gold’s up 50% over the last freaking year on like can’t you, can’t you take the win? Should be higher.

I don’t know. Sorry. It’s hard for me to argue with that knowing full well that silver’s gonna. Silver’s on its way to freaking $50 at this point. It’s just going to take it. This is going to take its own sweet time getting there because it’s a bull market. Coughing There a second. Come on, Tom. Don’t try and sneak that in there. Let’s rewind. Clearly what you just said for this old time. No, seriously, I look at, looking at the silver charts. Not hard. We’re doing this on the last day of Q2, silver’s at 36, 36 an ounce.

It’s a massive breakout on the monthly and quarterly chart for silver. Massive breakout. Like if I’m, if I’m a strategic investor, silver’s clearly in a breakout. So is copper, by the way, because copper is going to close today about five bucks a pound. Like so that’s part of this supply, that’s a part of this inflation problem. If you’re talking about the need for silver and copper to build out new electricity grids and more chips and all the technology, remember I see silver as the leading indicator is like Dr. Silver for the technology sector and Dr. Copper for the industrial sector.

Right? That’s the way I see the two metals. And gold is clearly a geopolitical and inflation hedge. It rises in the short term on geopolitical risks and then holds on to those games to reflect long term inflation. That’s the way I see gold and gold, the way gold trades generally comports with that. So we’ve had a big geopolitical risk of war between Iran and Israel and Ukraine, Russia, and we moved up to $3,500 and then they solved themselves and now everybody’s raiding the gold market for dollars that they’re desperate for because now there’s, now we’re rotating out of now.

Now the, the people who were hedging with gold on geopolitical risk are now using it as a piggy bank to go get dollars because now they got other, now they get real problems in, you know, and trying to make payroll or service their debt or whatever it is and then that kind of dance. The older I get this is, the more I, the way I see gold being the way gold runs and then all the, the rest of it is, is just, you know, kind of, you know, conspiracy theory nonsense. I didn’t say conspiracy theory. I know they’re manipulating the markets.

I’m not stupid. I don’t disagree with that idea. I mean, when you watch Silver close at 35, 999.5 on a Friday afternoo on futures exploration, I’m like, you think somebody was going to go broke if Silver closed at 36.50? I think so. I’m not dumb. I get it. Right? But that’s not ultimately what drives the market in the long term. Silver and gold and copper, really looking at them on a weekly or daily basis is just dumb. Unless you’re actively trading in the markets as investors and as people are trying to think strategically, you should never look at anything less than a monthly chart for any of these things.

Monthly charts, quarterly charts, annual charts. And Silver’s clearly getting ready to put on a massive bull market. To what number? I don’t know, but I’m going to go back to the all time high at around 50 bucks. It’s certainly the first place where people are going to set up. It may, it’s gonna, you know, there may be interims tops at like 41 and 46 or whatever. But you know, this run is going to take us to 50. I, I don’t even, I’m not even worried about that. You know, and you can go over the supply and demand numbers and you have other people on who follow that stuff far more closely than I do.

And I’m sure you do. I don’t. You know what I mean? And that’s great, but just looking at it from a technical perspective, I’m like, no, this is, Silver’s clearly going where it needs to go and where it should have gone ages ago. But if you care to answer this one, feel free to deflect it. But for, let’s say for our average 60 to 65 year old silver investors starting to feel a little less agitated. But what do you care to put a range even on before it’s all said and done? Like do we get to some of the bigger numbers that people have suggested or like five years from now, ten years from now? What do you think is realistic that people might see? Yeah, I mean, I hate to answer questions like that simply because you don’t take it and make the title Tom.

I know, I know that, I know that, Chris. I know that, Chris. But I also, I also don’t want to give you like cheap headline material either ounce. I’m like, don’t. If you want my number out of me, I, then you have to promise me that you won’t use that as the tagline on the video either. I won’t put it as the headline. We’ll leave this in the middle for the people who are watching. Fair enough. Okay, then I’ll give you the number. I think, I mean my long term target on silver is somewhere between 80 and 150 an ounce and it’s a big wide range based on, based on the thing shooting and overshooting and internal volatility.

Like if you thought if you go back to 2011, really silver was, the move was done in the low 40s or the high 30s, low 40s. And then there was a spike up to 49, 30, then we killed bin Laden and then it Collapsed. That’s what happened, right? That is literally what happened over a weekend. And I know because I got my ass handed to me because I was long silver in the week on the weekend, and then I was caught on the other side of it the time, you know, on that Monday and I’m like, I don’t, I’m like, I’m thinking about retirement on Friday and then I’m thinking about how am I going to make my mortgage payment on Monday.

Like, that’s what happened. I would have loved to have been in the Luongo household that Sunday night. That, yeah, it wasn’t fun. It wasn’t fun. But that being said, okay, you know, 40 was the top that it should have been in 2011. What’s the top for this? This, for this, this phase in 2025 through 2027? I don’t know, 65, 70, $80 maybe. Fine. Big top. Correct. Down into the 65 range. Hold that for a little while. I think we’re going to go through at least one or two more iterations of this before we get to the big top.

And I think the big top is somewhere around 125 an ounce. And again, I’m just picking a number here. I could see it. You know, this is just, this is just me picking a number out of the back of my brain. And I’m dead serious when I say that I’m not. I don’t have like hard data numbers because there is no hard data number on a, on a market as manipulated as silver. Like off, like this is where you have to just, you know, take experience and time and go, yeah, 150 by 2030 or 2032 sounds about right as of top.

Whether it’s, you know, whether it holds that price or not is a different story. And I can tell you flat out, folks, that if it ever hits that number, I’m not going to own, I will not own an ounce of silver at that point, period. I will have sold it all and probably converted it all to gold. Okay, but I’m gonna silver. But I’m gonna watch the silver to gold ratio for spikes and troughs in it because they seem to correlate really nicely with big geopolitical events. I’ve been tracking the silver gold, the gold ratio for.

I have a 20, something like close to 20 year chart of it now with like all the monthly closing prices. And it just charted the silver to gold ratio is on a monthly closing basis. And then I’ve gone back and I’ve looked at it and all the peaks and troughs and the ratio seem to correlate with really big events in. In history. So for whatever that’s worth. So, yeah, that’s what I use a ratio for. You know, you just, with that, swap it into selling the silver into gold. You just made half of the audience watching really happy.

And then there’s like another half. It’s like, although I. I like this, I feel I got some good silver nuggets and I’ll behave myself in the titles. And I won’t put that as the intro. We’ll see it at the intro clip. But I’ll behave on that one. I would appreciate it. So, I mean, I. Look, dude, I know it’s your business, everything else, but I’m like, it’s just one of those things. Like, I know that if I were in your position, I’d be like, oh, that’s juicy. I’ll use that as the intro. I get it. Well, to be fair, I mean, I.

I don’t know if people, everybody else would agree with this. Hopefully most would. But I mean, I time I’ve been doing this, I try to, like, avoid doing things like that because I’m not trying to click bait, just. So, anyway, although you mentioned the Golden Silver Deads come from London. And you also mentioned Scott Besant, which, first of all, most importantly, Tom, tell me that you’ve. You’ve never watched Scott Besson speak and you’ve never had this pop into your mind or. No matter how silly the idea of having a queen might be to us. I can’t help myself.

Every time he makes like I’m not trying, maybe he’s being critical. Although he doesn’t seem very comfortable often in front of the camera, especially for those people who saw Tucker Carlson ask him about gold. And at one point he was saying how his friend’s grandmother traded her currency for bicycles. And Tucker says, how’d that work out? He’s like, oh, great. And I’m thinking, the guy in charge of the reserve currency, did he just tell me to trade for bicycles now here. But what are they doing? When you were on last time, it was. Right. I guess it was in this year.

It was this year because it was February 3rd when Besson said they’re going to monetize the assets on the US Balance sheet. I appreciate that. He even gave us a timeline on it. 12 months. That’s now five months ago, you said that he was not talking about gold. He later came out and said that that’s not what he was referring to. Any updated thoughts on what is going on and what they are actually planning. I know, I know it’s unfair to leave it there. Although fortunately, you will get to hear what Tom had to say about the Besson plan in just one more day.

And just in case you can’t contain yourself until then, well, you can always pick up a silver chopper. Ben Bernanke, come spin my propellers and I will cut your interest rates for you and bring home the man that Trump probably wishes was his current Federal Reserve Chairman. I’ll even cut everybody else’s interest rates available with multiple spinning propellers and 26 ounces of 3:9 fine silver. And to get your very own, just click on the link in the description field below. And in just another day, we’ll be back with part two of Tom Luongo.
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