August 29, 2025 • 21 mins
Kerry Lutz and Robert Kientz dig into the U.S. government’s new designation of silver, copper, and potash as critical minerals—a move that could fast-track projects and shift the global resource race. Robert explains why silver is the centerpiece of this policy change, pointing to deepening supply shortages, five straight years of mining deficits, and the growing risk of a historic short squeeze. Industry legend Rick Rule also weighs in with insights on where silver could be headed. The discussion exposes how Wall Street banks are sitting on massive short positions, why Eastern markets are creating their own pricing systems, and how U.S. strategy is scrambling to secure critical minerals for both industry and defense. Robert also outlines smart investment angles in silver royalty companies and junior miners, and highlights the growing movement for gold legal tender laws that could redefine money in America. Find Robert here: https://x.com/freedom_rpt Find Kerry here: http://financialsurvivalnetwork.com/ and here: https://inflation.cafe Kerry's New Book “The World According to Martin Armstrong – Conversations with the Master Forecaster” is now a #1 Best Seller on Amazon. . Get your copy here: https://amzn.to/4kuC5p5
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Silver is probably the single most important individual mineral element
that we have right now, mostly for the fact that
it's used in everything in small quantities, and it means
that the price can move a lot and people will
still demand it.
Speaker 2 (00:14):
You are listening to Carrie Leutz's Financial Survival Network, where
you get valuable information you just can't find anywhere else
to thrive in today's trying times. You need the Financial
Survival Network now more than ever. Go to Financial Survivalnetwork
dot com and get your free newsletter and gift. Financial
(00:35):
Survival Network now more than.
Speaker 3 (00:38):
Ever, And welcome you are listening to and watching the
Financial Survival Network. I'm your host, Carrie Letz. Robert Kings
is with us from the Freedom Report. Robert, it's great
to have you back. I know you caught the news
that silver, copper and podash have been placed on the
critical minerals list for basic by the US government and
(01:03):
that they're vital to infrastructure to defense, and that clears
away for expedited permits for these projects as we like
to say north of the border, and that includes candidate
as well, and it has a lot of effects. I
think it will even qualify it for aid under the
(01:24):
IRA Act, which was probably the only good thing that
the former administration did for mining while they were there.
Could this be like the Manhattan Project for the resource sector?
Speaker 4 (01:36):
Yeah, silver is.
Speaker 1 (01:38):
I'm glad that they did it for silver because silver
is probably the single most important individual mineral element that
we have right now, mostly for the fact that it's
used in everything in small quantities and it means that
the price can move a lot and people will still
demand it. And the resource markets, the trading markets have
(01:58):
including former CFTY Commissioner Roston Benham, have controlled the prices sover,
admittedly in public because it is so critical that the
government wasn't doing the markets any favor by not putting
it on the Critical Minerals List and announcing to the
public that essentially sober is so important that we need.
Speaker 4 (02:15):
To guard it.
Speaker 1 (02:16):
The markets were already guarding it. They wouldn't let the
price rise too high. There have been a lot of
there's been a lot of work done quietly by the
administration about getting mind supply. And there was an article
that came out, I want to say, in zero Hedge
or maybe it was in Twitter, I can't remember, last
week that talked about the US very quietly going to
(02:39):
minors to secure supply the how that may violate certain
laws like free trade to the laws or business laws
in the United States, and they can do it by
simply striking a contract. They don't have to nationalize or
take over. You simply go to whatever the biggest silver
minors are. They're going to be out on Labada, Utah,
California mostly, and you say, hey, we want to buy
(03:02):
your output, and you give it to us and you
make a deal with the refiner. So the US government
wants to get into the silver business because it's so critical.
And what you saw before was the market sort of
protecting the mechanics of the silver trade up until the
point where it forced the government to do something. And
finally we've got recognition on silver that it's so critical
and it's in such shortage. We're going to be running
(03:22):
five years straight of mining shortages to what's needed for production,
which is drawn down global inventories. You saw earlier this
year we had the report on the LBMA that they
were almost out of free silver. That came out from
David Jensen among some other analysts. By the way, off
long you mentioned substack. So if anybody goes to substack
and looks up David Jensen. You'll see his reports, and
(03:43):
he documented how the London silver inventories were so thin
run and Manly, who writes for Billia involves done the
same thing. And so you're seeing these commentators out of
the UK say there is a big shortage. And I
think that's why Solber now is firmly above thirty bucks
because thirty dollars was that sort of rubicon where back
during silver squeeze four years about fours years ago, you
(04:06):
remember that they limited the price of sober at thirty
But now it's been above thirty for a while. So
the market's taken over and it's like, we don't care
what circuit breakers you put on the markets. Silver is important.
So that move by the market very quietly pushed the
hand or force the hand of the US government to say, okay,
we finally got to come out publicly and admit and
the fact that they're doing it on potash, you know,
and copper copper is so critical to infrastructure that over
(04:29):
the next fifteen years we do not have the end
ground discoveries of copper that we need to electrify the world,
including India, China and what people aren't talking about Africa.
Africa has an amazing amount of investment going into it
and they need copper for industrialization and electrification. So you
could take all the minds of the world, including Grassburg
with known friven and problem reserves, and it's not enough.
(04:52):
And so the whole world is now moving to protect
copper China and to Russia. I've been doing things in
order to secure it. The United States is just reacting.
So in short five years ago I gave a presentation
at Money, Metals and Minds and said, we're got the
inner resource wars, and now we're firmly in them. We
went through trade wars and currency wars, and now we're
into resource wars and everybody scrambling for the resources. And
(05:15):
so I think you've also seen Russian nationalized the third
largest gold mine. You've seen Mexico say that they're going
to limit amount of new permits to foreign entities. So
you're starting to see protectionism around certain key commodities around
the world start to take shady.
Speaker 4 (05:29):
Interesting.
Speaker 3 (05:30):
Interesting, So you know the fact that the governments finally
acknowledge this, are we going to see a short squeeze
in silver?
Speaker 4 (05:39):
And then we got because Rick Rule.
Speaker 3 (05:41):
When he was on my show, when I caught him
right after his conference, he said that the entities doing
sophisticated shorts and hedging in silver are going to be
utterly destroyed.
Speaker 4 (05:55):
To paraphrase him, Yeah, yes.
Speaker 1 (05:58):
And if you look at some of whose were If
you look at Scotia Bank, Scotia Bank a couple of
years got out of gold, or at least they said
they were getting out of go. I think they got
rid of their service because they were overextended in gold,
and when gold started rising, they had so many shorts
that put tremendous pressure on them and they had major issues. Recently,
Bank of America, with their silver short position has come
(06:20):
under a tremendous amount of fire. If we ever got
to true one hundred percent price discovery, it could put
Bank of America out of business. Not just this mental
trading desk, but the liability they have because it's a
leveraged investment, could cause Bank of America to actually have
substantial financial trouble. That's how big their silver position is.
If you look at go to gold charts arrests and
that wonderful service that was done by Nick Leared, and
(06:42):
you look at the top four largest, and all he
does is pulls data off of comets, his all public data,
but he collects it all and puts it into a
massive database that's been going for decades. And so he's
got these tying charts which are awesome. And when you
look at silver shorts and gold shorts, there's a top
four billion banks that are shorting, and we know who
they are because if you go to the Office of
(07:04):
the Control of the Currencies report on derivative positions, it
calls them out. It's a city bank, it's Bank of
America JP Morgan and I'm forgetting HSBC, I think is
the fourth. If I recall, those are the big four
shorters in all derivatives and specifically derivatives on comes and
that's not just golden silver, but they do call precious
metals out and it's also been proven. So we know
(07:28):
the names of the banks. Can if you go to
the clared chart, you have the history of these banks
and kyliod happened to Lehman as they were involved in
this trade. So banks that have tried to maintain any
short positions for a long period over time have periodically
when the market moves up and gone into trouble because
if the price moves too far against you and you're short,
you either have to deliver or you have to cash
all these contracts and you can lose tremendous amounts of
(07:48):
money and for the longest time to see if youc
and the banks work together. I think, particularly in sober
to protect that market because I think it is a
critical mineral and you can say it's manipulation fraud, and
I think I've proven that. I think my channel why
it got so popular was we proved to Pertmint was
running a scam. I had to see a thing or
looking at for financial reports. Their CEO got fired. That
(08:09):
was a big thing. A couple three years ago. We've
seen scams on the comes. We've uncovered other scams, and
that's kind of what I'm known for as a former auditor.
And you could see, you could see all of this
leading up. You could see them the internal mechanics. And
now you just can't cover it up anymore. And so
instead of them trying to cover it up and not
make it an issue and pretend and try to protect there,
(08:32):
it's changed to the comes. It's pretty clear two things
are happening. One they can't anymore. And yes, it could
blow up on these major banks, it could blow up
the balance sheet. The next block swam banking crisis could
originate from the silper short position market. That could happen.
It's possible. I don't know if it's probable. But the
second thing that's happening is nobody's believing the London and
(08:52):
the US markets anymore and the trades moving over east.
So the Chinese hier Jack Morgan to help them, have
helped them less four or five years as craade their
Shanghai market. Across all commodities, but in particular the metals.
You've had Dubai come out and say we don't care
about the LBMA system.
Speaker 4 (09:09):
We're going to run our own.
Speaker 1 (09:10):
And they have a lot access to a lot of
African minds.
Speaker 4 (09:13):
You have India.
Speaker 1 (09:14):
Russia also sort of coalescing around a new pricing structure
and a new derivative trading market, which happens to have
a heavier physical component, So to me, it has more
credibility at least in tons of the amount of physical assets.
I don't know about the trade because I haven't followed,
but you can tell if there's a shifting away from
these Western markets and they're losing control their pricing scheme.
Alistair McLeod, who's been covering these for a long time,
(09:36):
has come out and said he thinks that that they're
losing control of My friend Andy Maguire over It Live
from the Vault, has been talking about the fact that
London may be isolated right now. The whole conversation around
tariffs and gold into the US was thought to have
been isolating London and separating, breaking up that sort of oligopoly.
(09:56):
That Trump didn't do it because all the market observers
told him if he did it, it would crash. It
would cause major issues if you tear iff gold, and
it would highlight the fact that maybe the US doesn't
have all the gold it says, and it would highlight
the fact that each of them markets has shortages because
if you look at the colusion between the comics and LBMA,
they have to work together in this Ponzi system, and
(10:18):
when that stops is when one of the two crashes.
Speaker 4 (10:22):
So it's as cesstrus.
Speaker 1 (10:24):
The US can't onlly pull away from London without consequences,
and so I suspect that the US now is doing
the critical mineral on silver. I strongly suspect that the
Sovereign Wealth Fund is a cover for the US to
go into the markets and get as much solver and
gold as they can go hold for financial reasons to
(10:44):
help back the dollar charge RECISTM, because Trump knows it's
in serious deep stuffs and silver to protect that industrial
component of that metal that we need, especially if we're
going into a war cycle. You know, with the regional wars,
you definitely need silver. It's in all major military components
including lasers, missiles, guidance systems. And the same thing has
(11:07):
kind of helped happen with rare earths. The US has
made rare earth production and US bas rare earth miners
a priority and appliantly working with rare earth providers to
get rareers because rare earths are needed not only for
the military but for industry. Because at the same time
that you want to bring chip production from Taiwan, because
you're worried about China and Taiwan, and China saying that
(11:29):
Taiwan's hours, they basically said it in public, They're going
to go after CHAINI one. The US now knows it
needs to build up its chip manufacturing, but you need
silver to do that and rare earth to do that.
And so now you're seeing the commodity wars that were
held in the shadows before now come out in public
with all of these governmental pronouncements, all the things that
we've been talking on the channel for the last five
(11:49):
years is what's going on behind the scenes is not
very public, and now you're seeing that in the news cycle.
And it's not surprised to those of it's been falling
it in detail for quite a while.
Speaker 3 (11:57):
Hey, so all this is happening. How do you make
money off of this? Obviously if you're holding the physical
like you and I are big, big fans of. But
there are asymmetric silver bets out there because at some
point I think Robert like, when silver breaks forty dollars,
(12:19):
it's Katie bar the doors. I hate that expression, but
you know what I'm saying, forty dollars silver is that
line in the sand hasn't been there since twenty eleven,
and from forty fifty and above, I mean Eric Sprout
saying three hundred dollars silver. Eric knows a little something
(12:39):
about resources, doesn't he.
Speaker 1 (12:41):
That was and it's a good segue into some something
else at Eric and Dustan, which is mining stock. So
if you're looking for leverage and you're just the average man,
that's one of the easiest ways to get in because
you're not going to have the money to go to
Comes and play the contracts or go to London that
that's the big boy game, unless you have a really
good sized financial office and a few hundred thousand discretionary
income that you wanted to get dedicated solely to that trade.
(13:03):
I would not advocate anybody getting rid of their portfolio
and going heavy into that, But if you want to
get speculative and that's something you decided to do, the
mining stocks is a good way to do it. I
always say that royalty companies are the easiest way for
newdies that don't want to analyze companies. But beyond that,
you can get into the junior miners. You could broadly
(13:25):
do it and like the GDXJ or some of the
other junior miners. Now you're going to get little bit
gold exposure and stuff like that. Base metal, but that's
a way to do it. But the miners is probably
the easiest leverage bet, and I would say impact silver
is kind of a penny stock usually trades you know,
a round a few bucks, but it has more silver
content and even First Majestic in terms of its total output.
(13:47):
So it's almost a proxy for leverage proxy. So anytime
I think silver's going to move up, I could put
money into Impact Silver and it goes up as a
function of or a multiple of the silver a price.
Now it also is going to come down that way,
so it's a you know, mining stocks, especially highly focused
ones like Impact or First Majestic, move a lot. They're
(14:07):
very volatile. But if you want a leverage play, you
could do like a there are like leverage index funds
on the solber price. It will take like the sold
price and they'll triple it something like that. But those
are super risky. They're easy to play for the average person,
but they're risky, right, yeah, So I think that there's
a risk there. But if you want, if you want
(14:29):
to take on that risk, any of those options, I
would say, personally, I would do a silver based royalty first,
it's safer. Then I would do a collection of like
junior mining stocks if I were doing it, and then
I may look at some other strategies if.
Speaker 4 (14:43):
I wanted the big boom.
Speaker 1 (14:47):
I think there's going to be enough room that if
you've bought silver any time to last or four years
when it was down ten to twenty five or whatever,
you're going to do, just find and to your point
when you when you look at the charts, silver I
think is sitting at thirteen year high something like that,
and we're getting to the point where it's almost reaching
that point where it got in twenty eleven the aftermath
of the financial crisis. So and it's in this massive
(15:09):
fifty year cup and handle pattern which looks like silver
just wants to go bonkers. And if you look at
supply shortages, you look at it being on a critical
minerals list, you look at the lack of mining input,
you look at the situations that happened with the exchange,
the Western exchanges being short, you know, and that becoming
public silver. You know what people thought was going to
(15:30):
happen in twenty twenty one with silver squeeze. Probably it's
more likely to happen now in the next couple of
years because of all those factors, and.
Speaker 4 (15:40):
Could be happening right now.
Speaker 3 (15:42):
If what we're seeing before our very eyes is any
indication Robert just tell us where do we find you,
how do we connect with you on the web.
Speaker 1 (15:50):
So you just follow me the freeom Report. I renamed
my channel from Goldzilver Pros because we focus on some
things other than just the metals, but we do. I
do typically do a weekly mails report at the Freedom
Rep on Twitter and on YouTube, and I'm also a
board member of Citizens for Sale Money, so I just
pluged that real quick. We're the ones that have been
behind or been assisting with these gold tender legal gold
tender bills in various states, including in Florida, Texas, and Missouri.
(16:13):
The best one is with Zouri. We like that one
the best, but we're We've also gone to conservative meetings
like ALEC where you suggest legislation, and we our bill
has been adopted by ALEC as like the official bill
for gold legal tender, and so now each state that's
interested can go grab that model and basically come down
and just negotiate out the details. So we're doing a
(16:35):
lot of stuff behind the scenes to facilitate gold as
legal tender.
Speaker 4 (16:37):
It can as well.
Speaker 3 (16:38):
Just tell us again about ALEC. It's the Association of Locals.
I can't remember it exactly.
Speaker 1 (16:45):
ALEC yeah, it is essentially a conservative it's almost like
a think tank. But what it is is fifty percent
of legislators and fifty percent of industry participants and they
go and they basically talk about in craft legislation, and
that legislation becomes part of a national platform. Any lawmaker
can go look at and say what laws are popular,
what laws are being suggested, and do you have like
(17:06):
a template, And so it's like a trial run or
a prayer for going either state or national level and
saying what the legislation do we want?
Speaker 4 (17:15):
What is popular?
Speaker 1 (17:15):
And the gold the goal legal tender one is the
hot bill in the US right now in finance and economics.
So the fact that it's gotten this attention is good
because now everybody's looking at like, oh, we don't have
to use the dollar if the dollar is having issues.
And when state's passing this, it allows people to do
goal cluses and contracts. It allows people to go pay
(17:36):
with gold and silver if they want. Now it's you're
not going to do it at the grocery store right now,
because businesses have to adopt rules and the you know,
and they have to put it within their existing regulatory schema.
So all of that rulemaking has to be worked out,
but it will start the process of the state and
individual actors being able to transact in gold being completely
(17:58):
protected the US Constitution and the state law, which is
reaffirming the clause it says states can make no thing
other than golden center the Golden Silver legal tender. So
that clause is still in effect, and what the tenth
Amendment allows the states to reaffirm that and say we're
taking that and making it official law. Because anything not
(18:20):
specifically called out, you know, is to the states or people,
and it's even called out in the Constitution, so it's
really the legislation shouldn't be needed, but it is to
offer legal protections for people that want to do it
on a state by state basis. So it's what it
should have been undone a long time ago, and we're
on the gold standard. It wasn't and so now we're
bringing that back, and so that effort is at least
(18:41):
getting the states to acknowledge. And then some of the
states are starting their own depositories and they're storing it
for their own wealth funds because it stabilizes the value
of their holdings and allows them to build bridges and roads.
One of the reasons we got passed in Florida was
we talked to their financial office in Governor Dessantz's office
been at Lettle office around finance and technology, and they said,
(19:04):
we can't finance roads and bridges because by the time
we get to year three and four of our project,
the dollar has lost so much value. We have covery
finance and take on more day and so the states
are strangling in their own budgets and so that's why
they're they're passing it because they want to use gold.
Speaker 4 (19:18):
So that's really we're.
Speaker 1 (19:20):
Not the point in the financial system some where inflation
has forced the states to now do this. And what's
going to happen is where we've got eleven states that
have legal tender laws. There were twenty seven states that
introduced that last year, four or five passed. They're probably
going to be another five or six a year going forward,
and once it gets to the point of critical mass,
(19:41):
it's going to force the federal government and the states
into a big legal battle row what is money, and
it's going to challenge what the US has planned, which
is stable coins, I believe is the next money in
the US, and it'll it'll interface with the CBDCs and
the bricks. And this is going to force the FEDS
(20:02):
and the STAKES to talk about what is money, because
if you look at it, they're dotting the stable points
without asking people. And we know that they're going to
turn into money because all these think takes are telling
us they're going to do it, and so all the
policy papers written are saying that that's what they want
to do, even though some of the FED has come
out and supported that. So people at the FED and
so you know that the government is going to try
to do it. So we're working at the state level
(20:24):
to say, well, there's a scene called the Constitution, and
there's a scene called gold and silver, and you haven't
rescinded that. And by us forcing the issue, it's going
to force it into the public, and it's going to
force that eventually probably go the Supreme Court. So either
the federal government is going to have to sue to
maintain their monopoly of money, or we're going to have
dual currencies floating around the US, which either way I
think benefits people.
Speaker 4 (20:47):
All Right, interesting times ahead.
Speaker 3 (20:49):
It's got a question for Robert myself, shoot me an email.
Speaker 4 (20:53):
What are your thoughts.
Speaker 3 (20:54):
Are we heading back back to the future where the
future has a gold standard and a silver standard? How
are we heading for a silver short squeeze of biblical
proportions all.
Speaker 4 (21:05):
That, Let me know your thoughts. Put them in the
comments below. Robert, always a pleasure, Thanks for stopping by.
Speaker 1 (21:11):
Thank you so much for having me on Carrie.
Speaker 2 (21:12):
Thanks for listening to Carrie Letz's Financial Survival Network, your
solution to today's trying times. For the latest, go to
Financial Survivalnetwork dot com. Financial Survival Network now more than ever,
Silver is probably the single most important individual mineral element
that we have right now, mostly for the fact that
it's used in everything in small quantities, and it means
that the price can move a lot and people will
still demand it.
Speaker 2 (00:14):
You are listening to Carrie Leutz's Financial Survival Network, where
you get valuable information you just can't find anywhere else
to thrive in today's trying times. You need the Financial
Survival Network now more than ever. Go to Financial Survivalnetwork
dot com and get your free newsletter and gift. Financial
(00:35):
Survival Network now more than.
Speaker 3 (00:38):
Ever, And welcome you are listening to and watching the
Financial Survival Network. I'm your host, Carrie Letz. Robert Kings
is with us from the Freedom Report. Robert, it's great
to have you back. I know you caught the news
that silver, copper and podash have been placed on the
critical minerals list for basic by the US government and
(01:03):
that they're vital to infrastructure to defense, and that clears
away for expedited permits for these projects as we like
to say north of the border, and that includes candidate
as well, and it has a lot of effects. I
think it will even qualify it for aid under the
(01:24):
IRA Act, which was probably the only good thing that
the former administration did for mining while they were there.
Could this be like the Manhattan Project for the resource sector?
Speaker 4 (01:36):
Yeah, silver is.
Speaker 1 (01:38):
I'm glad that they did it for silver because silver
is probably the single most important individual mineral element that
we have right now, mostly for the fact that it's
used in everything in small quantities and it means that
the price can move a lot and people will still
demand it. And the resource markets, the trading markets have
(01:58):
including former CFTY Commissioner Roston Benham, have controlled the prices sover,
admittedly in public because it is so critical that the
government wasn't doing the markets any favor by not putting
it on the Critical Minerals List and announcing to the
public that essentially sober is so important that we need.
Speaker 4 (02:15):
To guard it.
Speaker 1 (02:16):
The markets were already guarding it. They wouldn't let the
price rise too high. There have been a lot of
there's been a lot of work done quietly by the
administration about getting mind supply. And there was an article
that came out, I want to say, in zero Hedge
or maybe it was in Twitter, I can't remember, last
week that talked about the US very quietly going to
(02:39):
minors to secure supply the how that may violate certain
laws like free trade to the laws or business laws
in the United States, and they can do it by
simply striking a contract. They don't have to nationalize or
take over. You simply go to whatever the biggest silver
minors are. They're going to be out on Labada, Utah,
California mostly, and you say, hey, we want to buy
(03:02):
your output, and you give it to us and you
make a deal with the refiner. So the US government
wants to get into the silver business because it's so critical.
And what you saw before was the market sort of
protecting the mechanics of the silver trade up until the
point where it forced the government to do something. And
finally we've got recognition on silver that it's so critical
and it's in such shortage. We're going to be running
(03:22):
five years straight of mining shortages to what's needed for production,
which is drawn down global inventories. You saw earlier this
year we had the report on the LBMA that they
were almost out of free silver. That came out from
David Jensen among some other analysts. By the way, off
long you mentioned substack. So if anybody goes to substack
and looks up David Jensen. You'll see his reports, and
(03:43):
he documented how the London silver inventories were so thin
run and Manly, who writes for Billia involves done the
same thing. And so you're seeing these commentators out of
the UK say there is a big shortage. And I
think that's why Solber now is firmly above thirty bucks
because thirty dollars was that sort of rubicon where back
during silver squeeze four years about fours years ago, you
(04:06):
remember that they limited the price of sober at thirty
But now it's been above thirty for a while. So
the market's taken over and it's like, we don't care
what circuit breakers you put on the markets. Silver is important.
So that move by the market very quietly pushed the
hand or force the hand of the US government to say, okay,
we finally got to come out publicly and admit and
the fact that they're doing it on potash, you know,
and copper copper is so critical to infrastructure that over
(04:29):
the next fifteen years we do not have the end
ground discoveries of copper that we need to electrify the world,
including India, China and what people aren't talking about Africa.
Africa has an amazing amount of investment going into it
and they need copper for industrialization and electrification. So you
could take all the minds of the world, including Grassburg
with known friven and problem reserves, and it's not enough.
(04:52):
And so the whole world is now moving to protect
copper China and to Russia. I've been doing things in
order to secure it. The United States is just reacting.
So in short five years ago I gave a presentation
at Money, Metals and Minds and said, we're got the
inner resource wars, and now we're firmly in them. We
went through trade wars and currency wars, and now we're
into resource wars and everybody scrambling for the resources. And
(05:15):
so I think you've also seen Russian nationalized the third
largest gold mine. You've seen Mexico say that they're going
to limit amount of new permits to foreign entities. So
you're starting to see protectionism around certain key commodities around
the world start to take shady.
Speaker 4 (05:29):
Interesting.
Speaker 3 (05:30):
Interesting, So you know the fact that the governments finally
acknowledge this, are we going to see a short squeeze
in silver?
Speaker 4 (05:39):
And then we got because Rick Rule.
Speaker 3 (05:41):
When he was on my show, when I caught him
right after his conference, he said that the entities doing
sophisticated shorts and hedging in silver are going to be
utterly destroyed.
Speaker 4 (05:55):
To paraphrase him, Yeah, yes.
Speaker 1 (05:58):
And if you look at some of whose were If
you look at Scotia Bank, Scotia Bank a couple of
years got out of gold, or at least they said
they were getting out of go. I think they got
rid of their service because they were overextended in gold,
and when gold started rising, they had so many shorts
that put tremendous pressure on them and they had major issues. Recently,
Bank of America, with their silver short position has come
(06:20):
under a tremendous amount of fire. If we ever got
to true one hundred percent price discovery, it could put
Bank of America out of business. Not just this mental
trading desk, but the liability they have because it's a
leveraged investment, could cause Bank of America to actually have
substantial financial trouble. That's how big their silver position is.
If you look at go to gold charts arrests and
that wonderful service that was done by Nick Leared, and
(06:42):
you look at the top four largest, and all he
does is pulls data off of comets, his all public data,
but he collects it all and puts it into a
massive database that's been going for decades. And so he's
got these tying charts which are awesome. And when you
look at silver shorts and gold shorts, there's a top
four billion banks that are shorting, and we know who
they are because if you go to the Office of
(07:04):
the Control of the Currencies report on derivative positions, it
calls them out. It's a city bank, it's Bank of
America JP Morgan and I'm forgetting HSBC, I think is
the fourth. If I recall, those are the big four
shorters in all derivatives and specifically derivatives on comes and
that's not just golden silver, but they do call precious
metals out and it's also been proven. So we know
(07:28):
the names of the banks. Can if you go to
the clared chart, you have the history of these banks
and kyliod happened to Lehman as they were involved in
this trade. So banks that have tried to maintain any
short positions for a long period over time have periodically
when the market moves up and gone into trouble because
if the price moves too far against you and you're short,
you either have to deliver or you have to cash
all these contracts and you can lose tremendous amounts of
(07:48):
money and for the longest time to see if youc
and the banks work together. I think, particularly in sober
to protect that market because I think it is a
critical mineral and you can say it's manipulation fraud, and
I think I've proven that. I think my channel why
it got so popular was we proved to Pertmint was
running a scam. I had to see a thing or
looking at for financial reports. Their CEO got fired. That
(08:09):
was a big thing. A couple three years ago. We've
seen scams on the comes. We've uncovered other scams, and
that's kind of what I'm known for as a former auditor.
And you could see, you could see all of this
leading up. You could see them the internal mechanics. And
now you just can't cover it up anymore. And so
instead of them trying to cover it up and not
make it an issue and pretend and try to protect there,
(08:32):
it's changed to the comes. It's pretty clear two things
are happening. One they can't anymore. And yes, it could
blow up on these major banks, it could blow up
the balance sheet. The next block swam banking crisis could
originate from the silper short position market. That could happen.
It's possible. I don't know if it's probable. But the
second thing that's happening is nobody's believing the London and
(08:52):
the US markets anymore and the trades moving over east.
So the Chinese hier Jack Morgan to help them, have
helped them less four or five years as craade their
Shanghai market. Across all commodities, but in particular the metals.
You've had Dubai come out and say we don't care
about the LBMA system.
Speaker 4 (09:09):
We're going to run our own.
Speaker 1 (09:10):
And they have a lot access to a lot of
African minds.
Speaker 4 (09:13):
You have India.
Speaker 1 (09:14):
Russia also sort of coalescing around a new pricing structure
and a new derivative trading market, which happens to have
a heavier physical component, So to me, it has more
credibility at least in tons of the amount of physical assets.
I don't know about the trade because I haven't followed,
but you can tell if there's a shifting away from
these Western markets and they're losing control their pricing scheme.
Alistair McLeod, who's been covering these for a long time,
(09:36):
has come out and said he thinks that that they're
losing control of My friend Andy Maguire over It Live
from the Vault, has been talking about the fact that
London may be isolated right now. The whole conversation around
tariffs and gold into the US was thought to have
been isolating London and separating, breaking up that sort of oligopoly.
(09:56):
That Trump didn't do it because all the market observers
told him if he did it, it would crash. It
would cause major issues if you tear iff gold, and
it would highlight the fact that maybe the US doesn't
have all the gold it says, and it would highlight
the fact that each of them markets has shortages because
if you look at the colusion between the comics and LBMA,
they have to work together in this Ponzi system, and
(10:18):
when that stops is when one of the two crashes.
Speaker 4 (10:22):
So it's as cesstrus.
Speaker 1 (10:24):
The US can't onlly pull away from London without consequences,
and so I suspect that the US now is doing
the critical mineral on silver. I strongly suspect that the
Sovereign Wealth Fund is a cover for the US to
go into the markets and get as much solver and
gold as they can go hold for financial reasons to
(10:44):
help back the dollar charge RECISTM, because Trump knows it's
in serious deep stuffs and silver to protect that industrial
component of that metal that we need, especially if we're
going into a war cycle. You know, with the regional wars,
you definitely need silver. It's in all major military components
including lasers, missiles, guidance systems. And the same thing has
(11:07):
kind of helped happen with rare earths. The US has
made rare earth production and US bas rare earth miners
a priority and appliantly working with rare earth providers to
get rareers because rare earths are needed not only for
the military but for industry. Because at the same time
that you want to bring chip production from Taiwan, because
you're worried about China and Taiwan, and China saying that
(11:29):
Taiwan's hours, they basically said it in public, They're going
to go after CHAINI one. The US now knows it
needs to build up its chip manufacturing, but you need
silver to do that and rare earth to do that.
And so now you're seeing the commodity wars that were
held in the shadows before now come out in public
with all of these governmental pronouncements, all the things that
we've been talking on the channel for the last five
(11:49):
years is what's going on behind the scenes is not
very public, and now you're seeing that in the news cycle.
And it's not surprised to those of it's been falling
it in detail for quite a while.
Speaker 3 (11:57):
Hey, so all this is happening. How do you make
money off of this? Obviously if you're holding the physical
like you and I are big, big fans of. But
there are asymmetric silver bets out there because at some
point I think Robert like, when silver breaks forty dollars,
(12:19):
it's Katie bar the doors. I hate that expression, but
you know what I'm saying, forty dollars silver is that
line in the sand hasn't been there since twenty eleven,
and from forty fifty and above, I mean Eric Sprout
saying three hundred dollars silver. Eric knows a little something
(12:39):
about resources, doesn't he.
Speaker 1 (12:41):
That was and it's a good segue into some something
else at Eric and Dustan, which is mining stock. So
if you're looking for leverage and you're just the average man,
that's one of the easiest ways to get in because
you're not going to have the money to go to
Comes and play the contracts or go to London that
that's the big boy game, unless you have a really
good sized financial office and a few hundred thousand discretionary
income that you wanted to get dedicated solely to that trade.
(13:03):
I would not advocate anybody getting rid of their portfolio
and going heavy into that, But if you want to
get speculative and that's something you decided to do, the
mining stocks is a good way to do it. I
always say that royalty companies are the easiest way for
newdies that don't want to analyze companies. But beyond that,
you can get into the junior miners. You could broadly
(13:25):
do it and like the GDXJ or some of the
other junior miners. Now you're going to get little bit
gold exposure and stuff like that. Base metal, but that's
a way to do it. But the miners is probably
the easiest leverage bet, and I would say impact silver
is kind of a penny stock usually trades you know,
a round a few bucks, but it has more silver
content and even First Majestic in terms of its total output.
(13:47):
So it's almost a proxy for leverage proxy. So anytime
I think silver's going to move up, I could put
money into Impact Silver and it goes up as a
function of or a multiple of the silver a price.
Now it also is going to come down that way,
so it's a you know, mining stocks, especially highly focused
ones like Impact or First Majestic, move a lot. They're
(14:07):
very volatile. But if you want a leverage play, you
could do like a there are like leverage index funds
on the solber price. It will take like the sold
price and they'll triple it something like that. But those
are super risky. They're easy to play for the average person,
but they're risky, right, yeah, So I think that there's
a risk there. But if you want, if you want
(14:29):
to take on that risk, any of those options, I
would say, personally, I would do a silver based royalty first,
it's safer. Then I would do a collection of like
junior mining stocks if I were doing it, and then
I may look at some other strategies if.
Speaker 4 (14:43):
I wanted the big boom.
Speaker 1 (14:47):
I think there's going to be enough room that if
you've bought silver any time to last or four years
when it was down ten to twenty five or whatever,
you're going to do, just find and to your point
when you when you look at the charts, silver I
think is sitting at thirteen year high something like that,
and we're getting to the point where it's almost reaching
that point where it got in twenty eleven the aftermath
of the financial crisis. So and it's in this massive
(15:09):
fifty year cup and handle pattern which looks like silver
just wants to go bonkers. And if you look at
supply shortages, you look at it being on a critical
minerals list, you look at the lack of mining input,
you look at the situations that happened with the exchange,
the Western exchanges being short, you know, and that becoming
public silver. You know what people thought was going to
(15:30):
happen in twenty twenty one with silver squeeze. Probably it's
more likely to happen now in the next couple of
years because of all those factors, and.
Speaker 4 (15:40):
Could be happening right now.
Speaker 3 (15:42):
If what we're seeing before our very eyes is any
indication Robert just tell us where do we find you,
how do we connect with you on the web.
Speaker 1 (15:50):
So you just follow me the freeom Report. I renamed
my channel from Goldzilver Pros because we focus on some
things other than just the metals, but we do. I
do typically do a weekly mails report at the Freedom
Rep on Twitter and on YouTube, and I'm also a
board member of Citizens for Sale Money, so I just
pluged that real quick. We're the ones that have been
behind or been assisting with these gold tender legal gold
tender bills in various states, including in Florida, Texas, and Missouri.
(16:13):
The best one is with Zouri. We like that one
the best, but we're We've also gone to conservative meetings
like ALEC where you suggest legislation, and we our bill
has been adopted by ALEC as like the official bill
for gold legal tender, and so now each state that's
interested can go grab that model and basically come down
and just negotiate out the details. So we're doing a
(16:35):
lot of stuff behind the scenes to facilitate gold as
legal tender.
Speaker 4 (16:37):
It can as well.
Speaker 3 (16:38):
Just tell us again about ALEC. It's the Association of Locals.
I can't remember it exactly.
Speaker 1 (16:45):
ALEC yeah, it is essentially a conservative it's almost like
a think tank. But what it is is fifty percent
of legislators and fifty percent of industry participants and they
go and they basically talk about in craft legislation, and
that legislation becomes part of a national platform. Any lawmaker
can go look at and say what laws are popular,
what laws are being suggested, and do you have like
(17:06):
a template, And so it's like a trial run or
a prayer for going either state or national level and
saying what the legislation do we want?
Speaker 4 (17:15):
What is popular?
Speaker 1 (17:15):
And the gold the goal legal tender one is the
hot bill in the US right now in finance and economics.
So the fact that it's gotten this attention is good
because now everybody's looking at like, oh, we don't have
to use the dollar if the dollar is having issues.
And when state's passing this, it allows people to do
goal cluses and contracts. It allows people to go pay
(17:36):
with gold and silver if they want. Now it's you're
not going to do it at the grocery store right now,
because businesses have to adopt rules and the you know,
and they have to put it within their existing regulatory schema.
So all of that rulemaking has to be worked out,
but it will start the process of the state and
individual actors being able to transact in gold being completely
(17:58):
protected the US Constitution and the state law, which is
reaffirming the clause it says states can make no thing
other than golden center the Golden Silver legal tender. So
that clause is still in effect, and what the tenth
Amendment allows the states to reaffirm that and say we're
taking that and making it official law. Because anything not
(18:20):
specifically called out, you know, is to the states or people,
and it's even called out in the Constitution, so it's
really the legislation shouldn't be needed, but it is to
offer legal protections for people that want to do it
on a state by state basis. So it's what it
should have been undone a long time ago, and we're
on the gold standard. It wasn't and so now we're
bringing that back, and so that effort is at least
(18:41):
getting the states to acknowledge. And then some of the
states are starting their own depositories and they're storing it
for their own wealth funds because it stabilizes the value
of their holdings and allows them to build bridges and roads.
One of the reasons we got passed in Florida was
we talked to their financial office in Governor Dessantz's office
been at Lettle office around finance and technology, and they said,
(19:04):
we can't finance roads and bridges because by the time
we get to year three and four of our project,
the dollar has lost so much value. We have covery
finance and take on more day and so the states
are strangling in their own budgets and so that's why
they're they're passing it because they want to use gold.
Speaker 4 (19:18):
So that's really we're.
Speaker 1 (19:20):
Not the point in the financial system some where inflation
has forced the states to now do this. And what's
going to happen is where we've got eleven states that
have legal tender laws. There were twenty seven states that
introduced that last year, four or five passed. They're probably
going to be another five or six a year going forward,
and once it gets to the point of critical mass,
(19:41):
it's going to force the federal government and the states
into a big legal battle row what is money, and
it's going to challenge what the US has planned, which
is stable coins, I believe is the next money in
the US, and it'll it'll interface with the CBDCs and
the bricks. And this is going to force the FEDS
(20:02):
and the STAKES to talk about what is money, because
if you look at it, they're dotting the stable points
without asking people. And we know that they're going to
turn into money because all these think takes are telling
us they're going to do it, and so all the
policy papers written are saying that that's what they want
to do, even though some of the FED has come
out and supported that. So people at the FED and
so you know that the government is going to try
to do it. So we're working at the state level
(20:24):
to say, well, there's a scene called the Constitution, and
there's a scene called gold and silver, and you haven't
rescinded that. And by us forcing the issue, it's going
to force it into the public, and it's going to
force that eventually probably go the Supreme Court. So either
the federal government is going to have to sue to
maintain their monopoly of money, or we're going to have
dual currencies floating around the US, which either way I
think benefits people.
Speaker 4 (20:47):
All Right, interesting times ahead.
Speaker 3 (20:49):
It's got a question for Robert myself, shoot me an email.
Speaker 4 (20:53):
What are your thoughts.
Speaker 3 (20:54):
Are we heading back back to the future where the
future has a gold standard and a silver standard? How
are we heading for a silver short squeeze of biblical
proportions all.
Speaker 4 (21:05):
That, Let me know your thoughts. Put them in the
comments below. Robert, always a pleasure, Thanks for stopping by.
Speaker 1 (21:11):
Thank you so much for having me on Carrie.
Speaker 2 (21:12):
Thanks for listening to Carrie Letz's Financial Survival Network, your
solution to today's trying times. For the latest, go to
Financial Survivalnetwork dot com. Financial Survival Network now more than ever,
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