It’s been a while since I chatted with Patrick Vierra, so it was nice to discuss what is happening in the Global Markets and Precious Metals. Patrick had been doing interviews at Silver Bullion PL in Singapore, but has now moved to Auctus Metal Portfolios, also in Singapore.
I really like Patrick as an interviewer because he tends to stay away from the hype, even though he interviews most of the same people in the precious metals community.
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Nice Interview Steve .. alot of sense
Definitely enjoyed the interview. Well done, sir.
Steve,
Fabulous memes!
Best meme for me is your meme of “This is a preview.”
I just want to mention that Au and Ag are real money. Why buy and sell them when you can trade them?
I hope to see more shows like this one,
Doug.
“I just wanted to mention that Au and Ag are real money. Why sell them when you can trade them?”
Trade them how, and for what?
One can “trade” them for the currency of the country you live in, then trade that currency for other things you want or need.
Maybe you can find a personal service dealer that will accept one as credit for the other. But you may end up selling one, then buying the other, with the dealer making profits on both transactions.
I trade silver for gold and vice versa. Usually buillion.
I use a PM mint nearby.
D.
You are approved to do business with a recycler/refinery?
A friend is a jeweler with business license that allows him to transact with Elemetal. The public can’t transact with them.
They have a numismatic front door.
Doug.
Steve — as you pointed out, USA citizens are the highest quantity silver investors in the world — stashed in homes, vaults, backyards. Indeed — I was recently on a road trip to the Pacific NW, visiting friends, some of my land, mountain climbing. My backyard includes US National Parks, Mountain peaks, Wilderness areas, the Wonderland Trail (around Mt. Rainier), and now Arizona (where I lived the past five years after 30 years in the PNW).
Another video that you created indicated that there has been a vast amount of silver that has been lost — sort of depends on how you define “lost” as I am reluctant to create a map or spreadsheet detailing the scope of my backyard — keep it all in my frontal cortex.
One of several advantages to having a large backyard — it becomes a real effort to move the metal … unlike a quick keyboard click to trade electronic ETFs, physical, in remote locations requires getting there and deeply thinking about why I might want to trade it for something else.
Diversification includes holdings in a Monetary Metals account — earning yield in gold and silver in leases and bonds.
All this is just another way to say that I endorse the idea of a diversified portfolio … Land, Gold, Silver, in various locations, sizes (acreage) along with the notion of coins, rounds, bars and stashed into tough-to-get-to-places.
Geopolitics and economic pressures have caused countries like Russia and Turkey to sell gold to cover budget deficits and stabilize currencies. The Central Bank of Russia sold over 22 tonnes of physical gold bars, and Turkey 60 tonnes. Poland is thinking about monetizing portions of its gold reserves to help finance its escalating defense budget instead of borrowing. This selling could be leading to lower gold prices. I suspect they will be buyers again in the future, which should cause upward pressure on gold prices.
Really we don’t know Russia’s net sales versus ofsetting acquisitions; they aren’t that transparent.
I’m sure some sources claim to know.
But as one of the world’s top producers of gold, they can sell it and mine and refine more.
Or sell oil and LNG to China for gold.
On the price front, last time I checked today the DXY had hit a 52 week high.
It isn’t just where it is that matters. It’s the recent trajectory.
Hey Steve —
Thanks a grand for your latest interview with Tom Bodrovics:
“Steve St. Angelo: Gold and Silver Prices Face More Volatility With a Looming Deflationary Crash”
Link: https://www.youtube.com/watch?v=kqb5rU06bWM
Time: 54 minutes.
I am listening presently … the signals of a deflationary depression are making their way into some of the more sobering podcasts. I am starting to mentally lean into this scenario as well. What if, instead of TPTB injecting $Trillions into the global economy to jump-start things, what if, there is No QE, there are no stimulus checks, the credit markets break, the free-cash-flow declines, cash becomes king, and folks are staggering about for any form of cash just to maintain a basic life. All of the private debt (mortgages, school-car-toy-loans, revolving credit, BNPL) remains on the books … the banks begin repossessions and liquidations, gold and silver decline as well as citizens at the margin sell portions of their physical assets to service their debts.
Ok … back to listening to Steve and Tom.