U.S. Public Debt Surges By $175 Billion In One Day

After the U.S. Government passed the new budget and debt increase, with the President’s signature and blessing, happy days are here again.  Or are they?  As long as the U.S. Government can add debt, then the Global Financial and Economic Ponzi Scheme can continue a bit longer.  However, the days of adding one Dollar of debt to increase the GDP by two-three Dollars are gone forever.  Now, we are adding three-four Dollars of debt to create an additional Dollar in GDP.  This monetary hocus-pocus isn’t sustainable.

Well, it didn’t take long for the U.S. Government to increase the total debt once the debt ceiling limit was lifted.  As we can see in the table below from the treasurydirect.gov site, the U.S. public debt increased by a whopping $175 billion in just one day:

I gather it’s true that Americans like to do everything… BIG.  In the highlighted yellow part of the table, it shows that the total U.S. public debt outstanding increased from $20.49 trillion on Feb 8th to $20.69 trillion on Feb 9th.  Again, that was a cool $175 billion increase in one day.  Not bad.  If the U.S. Government took that $175 billion and purchased the average median home price of roughly $250,000, they could have purchased nearly three-quarter of a million homes.  Yes, in just one day.  The actual figure would be 700,000 homes.

Regardless, we are now off to the races when it comes to adding GOBS of DEBT to continue a Ponzi Scheme that would make Bernie Madoff jealous.

There is so much that I want to write about and put into videos, but there is only so much time in the day.  I saw Andy Hoffman’s newest video where he let his followers know that he sold the rest of his Gold and was totally out of precious metals and fully invested in Bitcoin and Cryptos.  Good for Andy.  Unfortunately for Andy, like many who rely on SUPERFICIAL ANALYSIS forgets there is this thing called “ENERGY” that makes everything work.  Without energy, the entire SYSTEM comes crashing down.  And the most fragile part of the system is HIGH-TECH and especially Bitcoin that consumes a disgusting amount of energy to provide no real productive use.  More on that later.

However, if you haven’t watched my newest video on the Huge Market Correction Update & Silver Price Trend, I suggest that you do:

The idea that precious metals are a Barbarous Relic and are no longer useful because High-Tech Cryptos will be the new currency, totally disregards the dire energy predicament we are facing.  Andy Hoffman got out of gold and silver and into Cryptos because he, like many, are guilty of SUPERFICIAL THINKING & ANALYSIS.  I don’t mean to be harsh here, but when Andy mentions in his video that when the OLD FARTS who believe in precious metals finally die off, then the younger folks will have totally forgotten about gold and silver, get’s my creative juices flowing.

If you do not incorporate the ENERGY DYNAMIC into your analysis or forecasts, you will be totally unprepared for what is coming.

Thus, the BLIND continues to lead the BLIND.  So be it.

Anyhow… I will be putting out more work on how the Falling EROI of Energy is destroying everything in its path.  Individuals who don’t think the $175 billion increase in U.S. Public Debt has anything to do with the Falling EROI of energy, makes perfect sense why they would follow someone like Andy Hoffman or the other Crypto Aficionados into an even Greater Bubble & Ponzi Scheme than the Fiat Monetary System.


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86 Comments on "U.S. Public Debt Surges By $175 Billion In One Day"

  1. Here are four peer reviewed scientific studies authored by top experts that prove beyond any reasonable doubt that global civilization will collapse within the next decade.


    Simple really….when the World Economy Collapses everything shuts down…the end… We’re talking about grids down all over the world and 7.5B people dropping like f*** flies in short order. The collapse will be absolutely horrible..There is no collapse or horror movie ever produced that has even come close to imagining what the collapse of BAU might look like. I’m talking about every corporation and every social program going bankrupt at once. I’m talking about people eating people. I’m talking about the Worst Catastrophe to ever happen in the history of mankind. Nothing has ever, or will ever come close….

    • We shall see but i’m not convinced when the global eCONomy collapses that nuclear power plants around the world will turn into Fukushima and that it’s lights out for humans because everything stops. That’s a bit of the unknown or FUD, aka Fear Uncertainty, Doubt.

      What I do see is governments especially here in the US taking advantage of a crisis like that to vacuum more control and power over the plebs. What I do envision is what we are seeing is a move toward global governance. And in order to govern you need bodies and lots of them.

      • The issue is the spent fuel rods. The US has sites all over the country and they contain a total of 74,000 tons (tonnes?) of spent fuel rods. If they are neglected (no power, social collapse), the water boils off and they start to burn. This is far worse than Fukushima, where the rods were not affected.

        It is easy to find maps of these sites for the US. Not many places to hide, I am afraid. The rods should have been stored deep under the earth, and all the plans were made, but you know, NIMBY.

        Other countries have similar problems. It is really very bad management. Borderline insane, in fact. But no one worries abut the “distant” future until it is too late.

    • Worst Case Scenario

      Food production and distribution failure will be the trigger.

      It took 200,000 years for the human population of the world to reach 2 billion
      Then the industrial revolution changed all that with the invention of engines, utilizing coal and oil. Now one farmer could support multitudes, instead of just his family and a few others. The human population has exploded to 8 billion in just the past 200 years. Because of the use of oil to feed all those extra mouths.
      When oil goes away. all those extra mouths will be going away also.

  2. “Andy Hoffman got out of gold and silver and into Cryptos because he, like many, are guilty of SUPERFICIAL THINKING & ANALYSIS.”

    This is one I disagree with you.

    IMO he was a sleeper. Did anyone notice how, pretty much all at the same time, so called PM analysts/gurus ALL sold out of PMs at roughly the same time? This was not a coincidence… it was a psyop triggered to get people to give up on gold and silver. This bit of information shows me their desperation and that we are nearing the end. Personally, I am trying to pick up the buying pace now.

    • Interesting perspective

    • Gold Painter your a deep thinker, great analysis… TY

    • Really only a moron would swing for the fences and put all his money
      in the crypto space . It could be a great move or the fastest way to loose all your money. btw it cost already appr. 6000 usd to mine one Bitcoin. Looks
      we are seeing a slow death of Kind Bitcoin. Time will tell. Same I can,t recommend to put all ones money in gold or silver. The world is not going to end no way.

    • lastmanstanding | February 14, 2018 at 9:19 pm |

      I have believed that what you are calling a psyop has been their goal for several years…relentlessly beating all real things of value to nothing.

      Only those with strong enough hands will survive…that is how the earth works.

  3. Zerohedge just published an article about “IEA Warns of new oil Glut”. Steve, I believe what you are telling us about EROI, but it doesn’t look like it is going to happen any time soon. Are we talking years or decades before you think
    the SHTF? Just wondering.

    • Crayfish,

      Have you ever heard of a “GOING OUT OF BUSINESS SALE?” You know the company is likely in financial hard times or bankruptcy and they decide the best plan of action is to liquidate everything, no matter the price.

      This is sort of what is taking place in the Global Oil Industry. While the U.S. Shale Oil Industry is in much worse shape than most, the rest aren’t too far behind.

      So, they CONTINUE to PUMP as much oil as they can because they aren’t making much in the way of profits.

      Please remember this little TIDBIT. During the 1980’s the Saudi’s cut production by 5 million barrels per day to manipulate the price higher. After the 2008 Crash, they cut production by 1 million barrels per day. This last time they are BICKERING over cutting more than the current 350,000 barrels per day. Why don’t they cut a few million barrels instead of a LOUSY 350,000 barrels per day.. eh?

      They can’t. Everyone has DEBT up to their EYEBALLS, so they can’t cut production.

      Thus, the U.S. and Global Oil Industries are now in the GREAT GOING OUT OF BUSINESS SALE.

      This will not end well.


      • Thanks Steve!
        I know you’re getting frustrated by comments that question your articles and facts…but remember….some of us started buying silver at $40.00 and have bought ALL THE WAY DOWN…so patience is wearing a bit thin for many of us. I think in general…we believe in basic fundamentals and in the information contained in your articles…it’s just the current “reality” we have been living in since 2009 is still very alive and well…until it isn’t. We are waiting for when common sense makes sense again

        • Crayfish,

          When I use CAPS or BOLD PRINT in my sentences, I am not frustrated. That is just my style of highlighting things. However, I am frustrated by the same MORONIC questions and statements over and over again by others… NOT YOU.

          Crayfish, I get it that people bought higher and are down considerably at the current market price. I have always told people to BUY into the Gold and Silver on an ongoing basis. While it is frustrating to be a precious metals investors in this insane world of ours, I can’t live a LIE or invest in something based on a LIE.

          I look at the markets this way. Being a Prostitute because the money is better for a period, then returning to a normal low paying job when the prostitute high wages disappeared, isn’t something I would advise. While people do it all the time, THAT IS NOT ME.

          So, it is frustrating to watch the past 10 years of massive money printing, debt, and insane market valuations. But, humans today have the attention span of a GNAT. While that sort of thinking works for a while, most GNATS end up on the front of car WINDSHIELD going 80 mph.


  4. If any one cares to comment about why silver has not held ist’s value as Gold has in past crashes as evidenced by my link beginning last post let’s continue here. I’m new at this and just found info.

    Surely this not news to some of you experienced stackers tho is new compilation of data. If this is news or something you can’t or won’t address you are a fool to be stacking because whether stacking is ultimately right or wrong you don’t know what the hell you’re doing and are reacting emotionally and just taking the easy way out far as collapse goes.

    • Frank,

      Trying to explain why Silver is undervalued to Gold in the Greatest Ponzi Scheme in History, is completely MORONIC. But, please feel free to spend as much time as you like convincing others. I welcome the comments.

      It’s good for additional traffic and debate.


    • Web search for “brotherjohnf” and “SILVER SQUELCHERS”.

      Charles Savoie has compiled massive amounts of data on the Pilgrim’s Society and the Silver Users. It is FAR more important for them to keep a kid on silver than on gold because it is THE PEOPLE’S MONEY.

      If the plebs gain control of their money, it’s over for them. The King’s money has always been gold, and who owns most above ground gold? PRIVATE CENTRAL BANKS. Your modern day kings. Above ground silver stocks have been fully depleted by nations, and central banks hold none. If the people who hold silver coins are the vast majority of new money holders, then the “kings” lose.

      There are many other reasons silver is more important to suppress, if you notice, gold has made many new all time highs since 1980. But silver has not surpassed its all time high of $50, set in 1980. Yes, the last silver all time high was 38 years ago…. Name one other commodity prices in worthless fed bucks that is in a 40 year slump. I’d like to know.

      Mr. Savoie has compiled many reports, and brotherjohnf does great videos breaking down this knowledge. It is sad he has taken down his website, hopefully it will be back soon, but you can find these wonderful videos on YouTube. I have been following brotherjohnf for 10+ years now, and he has served me well. Too bad he has also been covering digital money almost exclusively, but I don’t believe he has sold his silver.

      Steve also has reposted some of Mr. Savoie’s work:


    • Frank,

      I started buying precious metals in late 2008 when I realized how close we had come to total collapse. Silver was $9.00/oz. Gold $700.00/oz I had recently sold my business so I made my first purchase. I try to buy a little every month so I am a stacker. When the gold ratio went over 80/1 the last time I traded my gold for silver. Would do the same today I i still held gold. I continued to buy silver until it hit $20.00/oz when I stopped because I felt it was too expensive and started b uying again when it went back under $20/oz. I didn’t sell a single ounce when it topped out at nearly $50/oz in 2011. This is the crux of the matter. Silver is not an “investment” in the common sense of the word. It is insurance against the collapse, which looms closer every day. The silver market is the most manipulated commodity in the world. Players like JPMorgan routinely depress the price by their playing the futures markets like a fiddle. If you want a silver investment, play the paper silver market. JPMorgan is smart enough not to drive the “market” price of silver below production costs because they know if that happens the miners will stop production and their paper games will be over. They clearly believe in the long term value of silver or the would not own over 5 million ounces. If and when they get caught in a bad short play they can cover it with physical and print money in the mean time.

      As insurance, silver (or gold) is only the beginning. A place to get away from the cities, a piece of good ground, a good source of water, guns, lots of ammo, food, tools, and relearning the skills of our fore fathers are all just parts of a complete insurance policy. A policy that gets cashed in when the chaos arrives. It may not be for another decade but it is coming. So every month I take my paltry social security check and buy a little silver, another box of ammo, a tool or two and keep building my insurance policy.

      Why silver and not gold? because the costs of mining gold is 75-80 times the cost to mine silver as is reflected in the current “market” price. BUT, the natural concentration of silver to gold is only around 16 to 1 but more importantly because there are about 2.4 billion ounces of gold in existence and only 2.6 billion ounces of silver in existence (the rest having been used up). A ratio of nearly 1 to 1 gets my bet.

      If you don’t hold it you don’t own it. Buy for cash and stash.

      • Well said Frank. I too am a stacker and while silver “prices” have been utterly illogical since 5/11, one thing is certain and that is the dollar is going to nothing. Paper money either loses value slowly, or it loses quickly. After being all in since 2010, I believe the manipulation is a factor but more important is the abysmal ignorance of the US public regarding real money. They will pay dearly for it.

      • lastmanstanding | February 14, 2018 at 9:37 pm |

        Right there with you brother Steve.

        When silver hit $50 I could have dumped a couple MB’s easily. Accept, it never even crossed my mind. I wasn’t my plan. In fact, I thought it was over then and off to the moon. We bought it for retirement which at this point is 10 years off at least.

        We have a couple businesses that are doing well because we have targeted a clientele that has money and will spend it to purchase our services. Services that they won’t and can’t do themselves. We started this approach in 2008. If they quit spending, there is no hope for anyone else.

        Shelter, food, (we grow our own and what we don’t, we get from within 10 miles from home) water, and lots of ammo.

        “If you don’t hold it, you don’t own it. Buy for cash and stash”

        Words that may save you life.

    • Frank
      First, my compliments on having a most excellent name.
      Second, Silver is not like other metals, because nothing can take it’s place.
      There is NO technology without silver. In other words NO silver NO technology.
      The western civilization IS technology. Just as oil is THE source of power for modern civilization. Modern civilization is defined by technology which would not exist without silver!
      I came to this realization and started trading is silver futures back in March 1980 then watched as the US government closed the market trading! When it opened back up all my profits were gone!! Silver was back to it’s lowest again. That is when there was 16 ounces of silver to one ounce of gold globally! Now it is almost one ounce of Gold to one ounce of Silver! IF silver goes to where it should be, NO one will be able to afford anything soldered! Or reflective, Or conductive, Or antimicrobial. Imagine paying several thousand dollars for a smart phone! Western civilization would come to a stand still! The average military missile (cruise) is 400 ounces of silver! and when it explodes the silver is GONE! The silver in Rockets is best measured in kilos/pounds! Which when reentering earth’s atmosphere is GONE.
      Should I mention Satellites?
      This faux price of silver is like a concrete block with a long bungee cord tying it to a car bumper. As the car races forward the block stays put UNTIL the cord yanks the concrete block into the air! That is how the silver price works!
      I remember silver being $6 an ounce! We will remember silver being $17 an ounce.

  5. If I were them, I would increase debt much faster. China has least has learnt the lessons, europe much less.

    • RD,

      Excellent idea by increasing debt faster. I would have never thought of that clever trick. You are full of wisdom nowadays. Next time I see someone with Cancer, I will make sure I share your wisdom that they should allow the CANCER to spread quicker.

      Well done.


      • Debt is not a cancer, wrong analogy, that’s the solution capitalism found to survive from the seventies/eighties, it’s a logic and determninist evolution after the end of past WWII era.
        If you deleverage or reduce benefits for lots of people, it just implodes.
        Why the west must increase its debt dramatically : because the asians are stupid enough to accept our IOU’s but they are no other options because otherise it is them who implode.
        So if I were Trump I would increase the military budget by a two fold factor and will buy also hard assets overseas (land, companies, real estate, patents, art, gold,…) like the swiss central bank has done for a few years even if in this case they only buys stocks and bonds and currencies.
        Lastly, even if capitalism would survive the next debt/global crisis (which I think will be the case), the big differences between debt and cancer is that destroying debt is much easier than destroying the cancer : it just requires lots of weapons and just saying FU to your creditors…

        • Debt is not a cancer, you are right. It is more like diabetes. Our high carb diet – all of those sweet foods – have messed up out ability to produce rational hunger signals so even tho we are hugely overweight we constantly feel hungry and feel compelled to eat more and more and more.

    • If anything, China has proved that this monetary Ponzi Scheme is global. It doesn’t matter whether you live in the Far East or West it’s all the same. People talk about China taking over with their gold backed reserve currency when they in fact are no better if not worse at monetary policy than the West.

      The entire world needs to create exponential growth to keep the Ponzi Scheme going which is why China builds “ghost factories and ghost cities” just to keep their one billion plus population from revolting.

      • Japan debt exploded and these are people who are working nearly all the time. China did the same in the last decade. Even germany with absolutely huge exports (thanks to the euro) and their mercantilist policy does not succeed to really reduce debts while their infrastructure is ageing. Some will say, because there are socialists and communists and there are none/less in singapour, hong kong or switzerland but there are always small countries which are on a niche sector like fiscal havens or high quality machine tools for switzerland, but there cannot be 300 million or 1 billion humans countries zone like that.
        To reduce debts dramatically and other option would been WWIII followed by a new wave of reconstruction with newest technologies available but that has not been possible becase the only competitors in the 1980/2010 era was japan and europe which were colonies alike of USA. Not possible but WWIII in one decade or more with china which by this time will be the main competitor for the most advanced technologies.
        Consequently, I prefer debt and the more the better, because I do not see why suffer more for… nothing.

        • You prefer exponential debt so the system can function? You need a crash course on finance. Hell, then why don’t we all take out 20 credit cards and rack up $500,000 worth of debt then file for bankruptcy? Your thinking is part of the problem and it’s the reason this monetary system will collapse.

          The only thing keeping this Ponzi Scheme going is that everyone still has faith they will get paid back. The day the light bulb goes off that they ain’t seeing their money is the day everyone runs for the exits. That happened in 2008 when the entire eCONomic, financial and monetary systems all nearly collapsed until The Fed came in and fired up the printing press.

        • Never mind, I just figured it out. You are Paul Krugman’s love child. That explains your thinking on debt.

          • No because contrary krugman I do see capitalism (with all his shades and evolution) as an historical category. You should rejoice for example universal/basic income which is going to be implement after the next crisis, it will postpone the real day of reckoning for maybe another few decades.

  6. “Andy Hoffman got out of gold and silver and into Cryptos because he, like many, are guilty of SUPERFICIAL THINKING & ANALYSIS. I don’t mean to be harsh here, but when Andy mentions in his video that when the OLD FARTS who believe in precious metals finally die off, then the younger folks will have totally forgotten about gold and silver, get’s my creative juices flowing.”

    When I read that it goes to show you can’t believe anything Andy Hoffman says from now on. I used to listen to his podcasts with Kerry Lutz and Andy’s famous words were “trust me when I say this”. The guy is a complete joke and the negative comments were so bad that he no longer does any podcasts with Kerry Lutz.

    • I stopped listening to Andy about a year ago. He just got on my nerves. Now, to hear that he ditched his PM’s and went to cryptos, I’m glad I stopped listening to him when I did. Cryptos are the newest temptation to try and get the weak to ditch sound money. No thanks. Andy must have just gotten tired of the manipulation. If you think for on minute that the central bankers and governments are going to allow any kind of competition against their monopoly on the money supply you are very naïve. It will be a lot easier to shut down or co-opt the digital space than it will be to do the same to the physical space IMO.

  7. One of these days, all that debt is going to matter… Gold (silver, platinum) really are important components of keeping surplus wealth secure.

    @ MASTERMIND (first comment)

    If you think it will be that bad, might want to put the neighborhood drug dealer’s on your phone’s contact list…

  8. Please stop giving Andy Hoffman the time of day. He is an arrogant New Yorker that acts like a bitchy girl due to a daddy complex. He never shuts his mouth and always must have the last word- just like a girl. If I want his opinion I will ask a high priced drama queen prostitute, at least she will be hot.

  9. If only half the stuff one reads on the Internet comes halfway true, it should at least convince a fellow to get right with God.

  10. Hello Steve,
    Great videos. Love what you’re doing. I’m focused on accumulating as much silver as possible especially with the current Gold/Silver ratio. Keep up the good work. I’m one of your patrons. By helping you, I’m hoping to help others. One day we will look back at your blog and realize just how many people you saved by unveiling the truth of our energy dilemma.

  11. Thomas Malthaus | February 13, 2018 at 7:12 pm |

    Steve: How soon would you estimate that production wells will be established in ANWR? Will they have to drill to great depths, or do geological studies suggest oil at shallower depths?

    You wrote a piece last week about light crude (40 wt) coming from shale drilling. Would alternate drilling in ANWR and offshore provide a heavier grade?

  12. Us old farts remember the past. Us old farts know human nature just a little better. There are a few still around who lived the great depression, ask them what they saw. My father talked about living on nothing but cornbread and water for months at a time. Old people unable to help themselves literally starved and the winters killed them off. It was like a dark age, nothing happened. No one had money, there wasn’t work, commerce was dead in many regions. It was like everything had to start over again, slowly from the dirt of the fields up.

    We’re setting up for it again. Our paper debt economy will evaporate slowly or suddenly, who knows.

    • Arnold Ziffel | February 13, 2018 at 9:10 pm |

      I’m in my 60s and heard the stories from my grandparents. My grandfather was a veterinarian and farmer in Nebraska. The small rural banks weren’t bailed out like the East Coast banks. He was wiped out and had to relocate the family to Pittsburg. He had to work until he was 76 years old. When he died my mother and her two sisters received suitcases for their inheritance. Each suitcase had over $40K in cash. He hated banks!

      My Dad’s mother was a widow and she keep her valuables and cash in a safe deposit box in the bank. Unfortunately the President had made copies of the keys and raided all the boxes of their contents.

    • Thank you, old farts. Some of us slightly younger ones do listen and appreciate the stories of your experiences. In fact, what you write literally sent a shiver through my spine about what we might expect to see in the future.

      I sure wish I had a father or grandfather like you from whom I could gain much wisdom.

  13. Hello Steve,
    Can you tell us anything about investing in precious stones ?
    It’s hard to find anything constructive on that subject.

    • Mark,

      Don’t know what Steve’s take on precious stones is but my sister works for a jeweler. Her take is that all precious stones are now able to be fabricated artificially. Prices range from $300 to $700 per carat of absolutely perfect stones. For similar quality, Natural stones cost $2,000 to $10,000 per carat, are not perfect and are collectible because of their natural rarity. So my take is, like collectible coins, when the shit hits the fan, artificial stones will set the market price and collectible coins will only be worth their metals content not their alleged rarity.

      • Thanks SteveW,
        I think we have to diversify our investments in this environment.
        Specially,because They can confiscate gold or make any trade of it illegal etc.

    • Mark,
      If you are going to invest in precious stones may I suggest you first take the correspondence courses on Diamonds and Colored stones from GIA (The Gemological Institute of America) they are the standard of the Jewelry industry. Never invest without knowledge. I have picked up rare and beautiful stones from pawnshops at 1/3 the price. Also once you are certified you can buy gems stones from the cutters and distributors. Also many jewelry stores are going out of business and their stock will go to the highest bidder. Never invest in diamonds because diamonds ARE as plentiful as garnets! Then why are they so expensive? Because the diamond industry is a captured and controlled industry. Colored stones are the greatest investment historically BUT you need to be able to spot the scams and know the different gems by examination. IF you are not sure DON’T BUY. You can’t trust others opinion. Here is where I began my gem education https://www.gia.edu/gem-education
      As the bible states and 8000 years of history reveal, real lasting wealth is in gold, silver and precious gems.

  14. BBC Panorama – Who Wants To Be A Bitcoin Millionaire?


    Good level view . . Hoffman’s cyptos will go to zero . . then he will try & get his job back with Miles Franklin . . . good luck with that !

  15. Silver Stacker | February 14, 2018 at 5:17 am |

    Andy Hoffman.s stupidity finally comes to light!

  16. I wonder if Andy has been secretly paid by “promoters”: Either cryptocurrency promoters or PM detractors.
    Something just smells about what he did.

  17. The debt as Steve shows increased by 175 billion but no one in the USA
    is running to PMs. Silver production is a billion ounces last year
    with industry using 560 million ounces. Coin/ Bar demand is $207 million ounces. If the demand worldwide, with almost 7 billion people, can’t double its buying of coins & bars, so that a shortage arises, then we must face the fact that very few people give a rats butt about silver as a haven for fear, value or any other name you wish to describe it. Right now inflation must hit the miners because silver tracks miner’s costs. If silver were to rise, how many more mines will be aboard? Steve may be right. The world must come to an end for silver to rise but how many of us would be alive in that environment regardless of how much silver you have? Food and water would be the commodity of choice.

  18. 2015 could be peak year in production but I consider true peak year when the total average mining concentration per year reduces every year. Would you (Steve) have a graph that represents yearly average mined concentration of P.M.s ? This concentration would be amount of P.M. mined divided by total material mined plus all material moved for mining. Just as you must use energy to move overburden material to get to the P.M. concentration for mining the concentration must include the overburden if energy is used.

  19. LOL, a career based on peak oil that will never happen – not to mention, comically flawed analysis. The only reason people listen to Steve is because he says their silver will one day go up – ignoring the fact that peak oil is a myth. Watching people trash me for having been transparent – and RIGHT – about everything from mining stocks to Bitcoin is a great case study on human pathology. Perhaps Steve, you can take this comment and make a video about it, in a desperate attempt at patronage. Or better yet, ask your comrade in conspiracy arms SGT to make a video about me – because he, too, knows that bashing me gets good ratings. Forgot the fact that I’ve been begging people to buy Bitcoin for two years, from all the way at $400. What do I know? LOL.

    • Yeah this is from the guy who loved to use the phrase “trust me”. You were a fraud then trying to get people to buy gold and silver and now it’s Bitcoin. Andy you’re a fraud and good luck with the suckers who buy your $200 subscriptions. You sir have ZERO credibility.

    • Mr. Hoffman
      As a regular reader of the SRSRocco Report I fail to remember or recognize any disrespectful statement toward you. Unless “good for him” can be regarded as a derogatory comment. As an investor I can see your point of view as well as Steve’s. Your position is the current battle while Steve’s position is the war.
      You have your position and Steve has his. The single current battle is not the war. Neither is a war a single battle. A single battle is not concerned with total resources available for the war but only the resources currently available for the present engagement. But as in any prolonged military engagement, resource levels MUST be maintained or the war is lost even though battles are won. Vietnam is a perfect example. We won the battles but could not maintain the level of resources required and lost the war. You Sir are an excellent field commander. Mr St. Angelo an excellent general.

    • You must be lucky but it’s going to be only temporary.
      Bankers are pushing Bitcoin , nobody else.

    • A career based on peak oil that’ll never happen…wow… that’s good news now I’ll start buying cryptos and shale oil companies.. what could go wrong?? Which crypto should I buy there’s over one thousand of them. I want one that’s extremely price stable so if you could point to that one I would appreciate it. If you could please point me to an oil company that has decreasing debt and rise free cash flow I would also appreciate that as well. I remember listening to several of your videos years ago and I remember the brilliance of your advice.

  20. Funny that Hoffman, and others, conveniently leave out of their gold and silver analysis the fact that Russia and China are purchasing gold by the tonne. They are not purchasing Bitcoin to back their Currencies, they are buying gold. In my opinion, anyone who ignores this fact is not credible, like a buffoon.

    • The problem is that China has not the balls to do anything as they hope USA will fall by itself and they will take the leadership without fighting. Chinese slaves may build a skyscraper in 3 months but their elites cannot open a oil exchnage in one decade… Up to now cryptos are recovering much faster than precious metals.

  21. What can I say? Another BRILLIANT article..!Steve doesn’t get the attention he deserves!!

  22. Since Andy Hoffman wants to be a financial analyst as well as an investor in Bitcoin he has made a major error. He should have just diversified into crypto-currency’s and kept some of his gold and silver. He should have maintained his old opinion that gold and silver is the only known insurance against financial disaster and that at this time, crypto-currency’s are speculative in nature, but could have great potential in the future. Instead he dumped all gold and silver, criticising stackers and saying at this early stage that crypto’s are replacing gold and silver. The man is egotistical bordering on mental illness.

    • thomas malthaus | February 15, 2018 at 5:24 am |

      Does any one really believe Andy has sold his gold and silver?

    • BTC back above 10 000 USD. 100% on previous lows. Unfortunately this site is unfotunately becoming the gartman regarding cryptos and PMs related…

      • Why would you want to own something as volitile as these cyber space created coins? I can’t imagine too many people excepting payment with something this volitile. Would you sell your car/house for bitcoin? Knowing in a week it could go down 25% or something else could happen that’s much worse.

  23. Steve,

    Nice of you to call me a moron without even reading my post, which had nothing to do with how silver is undervalued to Gold.

    Has to do with a simple chart(for those who aren’t morons)showing silver has historically lost value when gold has increased value during crashes, regardless of any normal ratio between them.

    Or maybe you just had an instinctive negative reaction which stifled your comprehension because you felt it might hinder your precious silver sales?

  24. Steve,

    Furthermore, I think you should explain, tho know you won’t, where you got the idea I was trying to convince anyone of anything. What opinion did I so stridently seek to defend?

    I gave a link to some some supposedly hard data presented by someone else and asked for opinions about the veracity and/or signifigance of such.

    When your post changed so quickly afterward I threw light back on subject in new thread to increase minimal chance someone knowledgable would see chart. Since you do not provide a normal forum with continuance. Perhaps to stifle liquidity of ideas?

    Actually, being attracted to silver, I hoped someone might have a perspective that would throw a different light on data.

    Sorry to frighten you, researcher.

  25. hello steve, these little words just to tell you that I am far very far from being a specialist in the matter, nevertheless the small culture that I have through many French and other American blogs allows me however to find your thoughts / analyzes and charts at the very relevant supports especially on your duet graphics between silver and petrol curves are worth a thousand words ….

  26. Hello R. Frank

    Too bad are names are so similiar eh?

    I don’t know why people so frequently take the stupidest interpretation of what one says. My approach is, if someone says something on a blog that takes at least minimal intelligence to follow seemingly says something retarded then I should step back and investigate before further confusing others.

    Like, It’s unlikely the person I’m addressing is so mistaken so maybe I’m wrong?

    Steve sells pm on site thru his advertised cohort Tom Cloud. Cloud Hard Assets” I believe, who likes to do occasional posts but will not engage even minimally with polite responders online. Says it all, I’m thinkin

    I’m not at all saying you are stupid. Please respond to this so know you read it

    • Frank
      Our name is synonymous with being open, sincere, or undisguised in manner or appearance. Frank is who we are.
      Frank if you have operated a blog then you know the costs of operation do not decrease, therefore any auxiliary support is greatly needed and necessary to continue. You will notice that there are numerous businesses that are advertised on this blog some even advertising stock purchases and ETF’s. These are not supported by Steve. Tom Cloud is recommended by Steve because Tom like Steve is very frank. The profits of Tom Cloud is not given to Steve only a percentage is given in exchange for services.
      In regards to you original question about the price of silver I am sure that your question now is completely answered after you watched https://goldsilver.com/blog/mike-maloney-the-top-10-reasons-i-own-gold-and-silver-new-video-series/
      Frank people are always appreciated and needed.

  27. I.e, There is no secret to this. Steve honorably provides full disclosure and admits sharing in profit.

    Site needs an edit feature

  28. It seems there is tension between PMs and cryptos however IMHO this is miss placed for I feel the real argument should be between wall St paper goods vs PMs and US dollar vs cryptos.
    In the past the financial world has revolved around wall st and the dollar both of which are fueled by debt.
    The elephant in the room is debt, thus the bubble created by said debt is about to burst. An economy based on debt cannot sustain over the long run.
    I see the future economy based on real debt free value (PMs) and fueled by debt free currency (cryptos).
    But of coarse this all depends on some form of energy to lubricate the machine.
    Cliff High agrees with EROI but he thinks there is some new form of free energy in the future, I will believe this free energy thing when I see it.
    For now I am in PMs not wall st and dabbling in cryptos to create a position when the dollar looses favor with the public.

    • Physical plane vs monetary plane. The medium of exchange is another thing. When people think their medium of exchange is still worth something tomorrow, then it has value. In my opinion, stuff that can be created out of nothing has no value. It takes a lot of value (energy) to mine gold. It, too, takes a lot of energy to mine bitcoins.

      Can we maintain our current complex IT infrastructure in a declining net energy (less profits) environment? Yes, but until when? We only have growth in monetary shenanigans. People will know growth is over by, lets say, 2025? Then what? Go out shopping and use your bitcoin lite paypal account? Give me a break.

      Maybe cryptos are used to fade out debt based fiat currencies. To extend & pretend. That won’t last long. The crypto ‘markets’ are poisonous like the crack whore in your basement with 8 months of rent overdue. Imho.

      • In my opinion, stuff that can be created out of nothing has no value.
        In this statement you speak I’ll of the US dollar then you speak ill of cryptos.
        Do you have a suggestion for a means of transferring wealth for commerce in the future?
        I’m not saying bitcoin is the solution for it has many issues, but I do feel a crypto will be far more accepted by the public than any govt issued fiat.

        • I believe we will live in a phisycal world after an economic crash. But maybe cryptos will have their day in the sun. Gov crypto that is, just to get rid of those other cryptos like the euro, yuan, dollar etc. with their debt overload. A less complex decentralised world doesn’t need ‘money’ transfers from Abu Dhabi to Wladiwostok.

          Please tell me, what company will maintain complex IT structures without profits, worldwide? Read ‘Tipping point’ and ‘Trade off’ by David Korowicz. Cash will work for a while. No one knows. High echelons have their emergency plans ready, whats in it, they’ll tell us when the time comes. A crash is a crash. E commerce simply stops working.

  29. I have a subject you might like to cover > inflation > best metric is no where to be found but is right under our noses > it is the cost of a meal out > includes everything = rent food taxes wages elictricity etc etc > call me and I will explain mornings until 12:00

  30. R Frank

    well you finally succeeded in pissing me off. You don’t read anything do you? I never asked any question about the price of Silver.

    Guess for you I need to repeat that. I NEVER ASKED ANY QUESTION ABOUT PRICE OF SILVER.

    Nor did I even really ask a question

    So any elementary drivel from Maloney, which seems to so impress your limited intellect, is irrelevant.

    And your statement about financing of site is so false and absurd as to be beneath contempt. Do you even notice Steve is not answering this? Duhhhh And once again you can’t read.

    Do not ever respond to me again. Need a shower

  31. I talked to a PM dealer today, about bitcoin. Apparently the Bitcoin ATM Machines going up take 25% of your bitcoin when you go to sell them!

    Just think, that’s 25& of Andy Hoffman.

  32. Love all the crypto bashing. July will be sweet to rub it in….LOLOLOLOOLOL BRAHAAAAAAAAAASAA ( Dr Evil Laugh )

  33. Hard to believe on face value, Eric, as just to atrocious. Who would pay that? Much steeper then metals premium

    Maybe tho. Can you provide name of pm dealer so we can contact ourselves or does anyone here have access to a bitcoin ATM?

    • Frank
      “Who would pay that?”
      Folks who haven’t done their homework.
      Or folks who wish to cash out after 20x gains.

  34. Once again Steve claims to 1) know the future of cryptos, and 2) talk about the “vast energy waste” of bitcoin. As I’ve stated numerous times, second and third generation crypto use Proof of Stake, delegated Proof of Stake, dBFT, or other non Proof of Work (like bitcoin) consensus models that are NOT energy intensive at all. It might make sense to keep one or two solid PoW systems like bitcoin, but the majority of new crypto will use less energy.
    Steve, Andy Hoffmann, and the rest of us do NOT know the future. I hold BOTH metals and crypto because both could be future solutions to our debt & inflation problems. Putting all your eggs in one basket is not wise. The $6k bitcoin low will likely be the low of 2018. Hedge accordingly.

  35. It is really difficult to fathom why analysts across the media/alt-media spectrum are obsessively concerned with the US debt as if they are carrying it very heavyly on their shoulders, personally.

    Debt is the lubricant for today world’s big engine, exactly how researchers claim corruption is the only lubricant that keeps the massive and growing Indian economy & dynamics rolling.

    It might be some of those analysts FEEL themselves moved by the fact that ‘something’ is growing without limit before their eyes, and they might be right if depleting fossil fuel energies will not be around one day to allow the debt to continue its endless cycle – as one newly circulated thesis inspires.

    However, until fossil fuels real shortages hit the US in the distant future, all analysts need to focus on which patterns that shortage will take, one nation a time, one continent a time or the form of a peak oil musical chairs game?

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