Uncovering the Massive Potential in Gold and Silver Mining Stocks

Don Durrett and John Feneck are back to provide an update on the gold and silver mining sector, and the massive potential they currently see in a number of stocks that are flying under the radar. Don and John reveal their top stock picks, along with giving their outlook on the global economy and broad markets and how it’s all connected to precious metals.

For more content from VRIC host Jay Martin, please visit Jay Martin University at https://jaymartinuniversity.com/

Sign up for Jay’s newsletter at https://jaymartin.substack.com/subscribe

Gold Stock Data: https://goldstockdata.com
Feneck Consulting: https://feneckconsulting.com

00:00 Introduction
00:30 Gold and Silver Mining Stock Update
09:46 What Will it Take For Silver to Rise?
17:38 Is the Economy Strong Right Now?
26:03 Maginificent 7 and Broad Market

#gold #silver #miningstocks

Hello everybody and welcome to the Vancouver resource investment conference Channel my name is Jesse day we are coming at you with our series of expert online panels and our last one with these two gentlemen was successful people loved it so we’re bringing them both back it’s dond durett of Goldstock

Data.com and John fenick of fenick Consulting we’re going to be talking gold and silver the miners and the metal gentlemen it’s great to have you back on for round two trav’s back Jess so let’s start off with an update from our last conversation you both mentioned some companies in the gold and silver

Mining space let’s revisit your picks um give us some updates and if there’s any additional names you think are worth mentioning definitely hit us with those as well and John I’ll go to you first on this one okay great so um the silver Junior space has been extremely difficult I mean everything silver

Equities has been difficult paname just made made a fresh you know three plus year low this week so it’s like even the highest quality biggest cap names are getting hit here and so you have to kind of sift through that mess if if you will

And and I think Don and I both do a lot of work uh in this area to kind of give our followers and clients an idea of what some of the better names are this is not the kind of Market that you just you know can throw darts at like the the

Tech market and make money so um a couple of names that I mentioned last time to give people an update CU I like the scorecard myself we talked about silver x agx PF um I really like Jose Garcia as a leader I know Don owns a

Little bit of the stock as well um I mean this is a turnaround story right because Peru has been really problematic Don and I just talked about this a few weeks ago and um Castillo is out of the way now I mean he’s been out of the way

For over a year so it’s it’s surprising to me that Peruvian equities especially producing equities haven’t done better um I think that is a value area right now because let’s face it Peru is a great place for silver companies copper companies Etc and silver x is the kind

Of turnaround story with higher silver prices that’s going to do well in my opinion we recommended it I think around 15 cents and it ran to 20 hit some resistance and is now back at 16 so uh it seems to be holding that 14 range really nicely um and that’s you know

Where I’d be a bigger buyer um the other one mentioned was silver tiger uh SLV TF I just saw Glenn jessum at vck and um Glenn is has been in the business 30 years right here’s another you know guy running a small Junior in Mexico on

Track to produce not that far down the road uh if they do get to production which I think they will um you know they’ll be one of the top five lowest silver producers in terms of cost in Mexico and there’s a lot of companies down there that I don’t think are going

To make it you know in five years two years even there’s still going to be a lot of consolidation and a lot of companies going out so you know that’s one that we recommended at 11 cents it’s run up to like 1213 back to 11 today so it’s literally right where we

Recommended it right um I would pivot to a couple of other special situations um in terms of new ideas I’ve been following the the tungsten story kind of closely uh because we write a Commodities newsletter right I’m agnostic to the commodity I’m going to write on stuff own stuff that’s in some

Sub sectors of of the market that maybe the average client doesn’t have time to follow um tungsten is actually a commodity that um the US government has said to China hey no more Imports as of January 1st of 2026 so we have less than two years to figure this out and there’s

Only one publicly traded Junior out there called Golden metal resources uh the ticker GMT LF that is actually based in London but their their mine is in Nevada and they’ve been putting out great news in January two great press releases um stocks gone from like 11 to

17 cents us we we were buyer at 17 here just this week um so I think that um there’s going to be some love for that company being that the government is behind this right like it’s not going to be imminent like tomorrow or maybe even

Next month but the dod has to do something about this and they have to fund projects in my view that are going to be you know an alternative to Chinese production right um another name that we just started to buy because I did a zoom with the one of the directors John lson

John you know has a 16-year career at BHP before getting involved in some Juniors like Vortex medals but V mssf is the ticker um Vortex was only a Mexican explor Co up until November 20th when they put out a release on a Chilean project they Acquired and that’s what

Got my interest because it’s right next to a producing mine and when you learn the logistics from John of not only what they got it for which looks like a song but also the fact that it’s it’s easy to I wouldn’t say easy to mine but it’s

It’s easier to mine than other projects he’s worked on it’s got local support it’s got infrastructure you know I think it’s I think it’s a three three and a half hour drive from Santiago so it’s it’s an interesting project it’s trading with a very tight share structure which

We like and before I turn it over to Don I just wanted to comment on nickel because nickel has something imminent coming up next week Jesse and that is the Indonesian um Prime Minister election and and that is going to possibly turn things on its head and

Nickel we’ll see who who wins right but you’ve had the same gentleman in power there for about 10 years so when there’s a regime change like that I always tell clients it’s worth checking out to see how this plays out um and you know three nickel Juniors that we own there um

Power nickel PN PNF since we were on your show they actually came out with their 4311 estimate and uh it looked really good to me uh it’s in a great jurisdiction Terry’s a great leader but then Terry Lynch put out a CEO update December 12th I think it was and really

Went after some of the short sellers in his stock in a very elaborate press release which I found uh not only uh you know worthwhile but also awesome to see someone standing up for themselves right Don because so many of these CEOs don’t take a stand that their their share

Price is getting worked and we know where it’s coming from right it’s naked Short Selling it’s different things in the market that the CEO can’t control but hey you could put a press release out and just say hey I’m commenting on this because we’re seeing it I mean they

Have actual evidence of this um so I think the stock is is interesting because it’s every time it gets to the 14 to 15 cent level it bounces I mean if you look at the the three-year chart so we’re we’re a buyer of of that stock we

Also own a lot of Still Water um which is directly attached to Saban’s big deposit in Montana um I haven’t seen news from them in quite some time I’m expecting something here in q1 just because it’s been since December since they put a PR out um but I love how Mike

Runs the company I love that he brought on two smart GEOS he used to work for Robert Friedland I had dinner with them at VRE actually um these guys are super bright and they’ve got a deposit that is potentially massive what we call a um a

Plat Reef type deposit um 11 cents I mean again trading at a three-year low right now it’s it’s unbelievable and then lastly premium nickel put out some really good results this week p pnlf uh so stock responded it’s up about 20% in the last six or seven sessions excellent summary there of the

Companies that you’re currently looking at Don uh yourself both when it comes to maybe some of the companies you’ve already been invested in uh any of the ones you could give us an update on that you mentioned last time around and anything that you might have fresh eyes

On at the moment and and feel free to to move outside of the silver and gold space if you like there as well I only do silver and gold I like to focus so excellent yeah so John gave you guys a lot of names that was that was great um so the

Hui at 213 um so the cycle low in October was 199 so these stocks are trading close to their bottoms I think I think they’re probably going to go down another 10% maybe 15% but a lot of them are bouncing on the bottom John actually mentioned that seen a lot of stocks kind

Of Bounce whenever they go down they bounce because they’re just so super cheap I mean we’ve seen with Endeavor silver I mean went down to 150 and then it bounced they you can’t keep them they can’t keep going lower uh they’re pretty much almost as far as they’re going to

Go um so I I um have a list of my favorite I think it’s about 35 names and I’ve reviewed them recently to see o of those 35 which ones are kind of bouncing on the bottom and I came up with nine names and I’ll mention those nine so

People can go and look at them because I just don’t think these stocks are going much lower so the buy the risk reward I think is is really good although some of these stocks are high risk absolutely I mean I say all silver golden silver moners are speculation

Bets and but the nine are aino silver Endeavor silver hecka hummingbird Maritime PanAm silver tiger Southern silver and treasury medals so those nine just you know go take a look at them see if you like any of them I I think all of those have unbelievable uh

Leverage here go when gold and silver finally do break out I expect those nine to be rocket ships and Don before we hit record today you were saying one of the big questions is what is it going to take for silver to finally break out we’re sitting at around the $22 level

You mentioned how absurdly cheap that seems and it certainly does um but obviously patience is key here um although a lot of people are tired of hearing that in in the silver space what are your thoughts what what will it take for silver to drive higher here I know

That we’ve discussed both here on the vck and on uh on my show as well that you think we could see a breakout uh this year maybe you could expand on that for us yeah um so my thesis has always been the number one driver for gold for

Breakouts is fear I call it the fear trade now you’re always going to get gold following the dollar but I call that more of a technical trade than the fundamental fear is the fundamental trade so in order for us to I mean we need silver to get to $30 and then it

Can that’s when it’s going to break out maybe 27 and it’s and it’s Off to the Races but the only thing that’s going to get us to 27 is a fear trade so what’s that so right now on Wall Street we have you know S&P is trying to hit 5,000

Um it’s less than 1% from there um and so it’s once it gets through 5,000 I I think this is the blow off top here now some people think that the economy is strong that you got the FED basically the FED puts coming back they’re going to lower rates everything’s going to be

Rosy the economy is going to pick up in the second half it’s all good for stocks so in that scenario there’s no fear trade and gold and silver are stuck and I’ve been saying gold and silver are basically stuck trapped until the fear tra comes back I thought it was going to

Come back in October we got down to under 4200 on the S&P and we now we’ve risen 800 points since then and I I thought that it would roll over instead it bounced off the 200 uh weak moving average 4200 and then it is just rallied

Ever since then and and the reason why is because this this the economy is slowing at a very slow pace not not not fast enough to to to worry Wall Street when they have the back back drop of the FED coming in here lowering rates so

What’s going to get gold to go to take off in my opinion is when we slow into an into the recession and the stock market goes down and so we have to wait for the selling on Wall Street and so once the selling on Wall Street occurs

My feeling is that at a certain point gold and silver will get so low they just can’t go any lower which is what those nine stocks that I just mentioned me once you get down to that bottom if you will you bounce and once you bounce every the technicals all kick in

Everybody starts running to Gold and Silver and I don’t know when that’s going to happen my guess is around 4,000 on the S&P okay so we’re looking at a th000 points so that’s 20% drop from 4,000 to 5,000 so if if you’re gonna you need that kind of drop to to get the

Fear trade what’s going to happen to the gold and silver miners during the selling so I call that Fierce selling so when the fierce selling comes gold and silver miners are going to get hit and I think it’s only going to be 10 to 15% it

Could be worse but I don’t think it’ll be worse than 15 um but that’s what now the other side of the coin you know is you know because there’s two possible outcomes here many more than two but two main ones is what everybody’s expecting and I I don’t

Think this is the outcome but this is the the majority Viewpoint right now is that the the stock market is going to keep going higher and I just don’t think there’s the juice to push it higher and then Gold’s going to go up with it well

One thing we do know is that Gold’s not going to go up by itself and the stock market stay the same that’s just not going to happen unless you have some type of a Black Swan event that that creates a fear trade and if that happens

The Market’s going to go down like I said so that’s the third scenario so I see those two scenarios as basically kind of long shots now there’s a force scenario which is muddling which we do nothing we just stay in a in a range and that four scenario might have a high

Probability so we could actually muddle all the way till and I’ve been saying this all the way till May June that’s a possibility the markets just muddle along here in it’s tight range nothing happens for months and then finally break out so those are your four scenarios I like that you’ve laid out

Four different scenarios there definitely some food for thought and John your thoughts on on what it’s going to take for both silver and gold to to move higher at this point I just wanted to piggy back on Don’s comments there I think when you talked about that 4200 test on the S&P

Don if you look at what happened I think it lasted for two trading days and then Powell spoke November 1st if I remember correctly and that to me was what got the markets back moving up and it hasn’t turned back because there was a sentiment change there was some some

Language changed in his messaging on November 1 clearly on December 13th but that’s where it started and I don’t think it’s coincidental right the S&P was failing and then all of a sudden here comes the FED again this has happened since March of 09 I mean go

Back and look at it guys it’s 15 years of support at some point the support’s not going to be there and then the market does correct to Don’s point so like I still think things are are ridiculously expensive in the broad Market we own very very little in the

Broad Market at all I’ll own some things like Sprat right now SII because I think you know we look at their last quarter 25% of their revenues were generated by Iran so it’s like I’m trying to find back door plays like that in financials or something like that where it’s

Interesting to me um but you know I’m sure financials generally speaking because I think that banks are in trouble um I mean Jamie Diamond is telling the world this I don’t understand why people are questioning it I mean JP Morgan is a behemoth right it’s like if the if the largest bank in

The US is saying this it pays to pay attention right not everything’s created equal so I still think there’s a lot of risk out there for the broad Market um for how gold and silver will take off I disagree a little bit with Don I don’t see like a 15% correction

Necessarily um because I think we’re seeing that now some of these names are absolutely bombed out I mean Newan hit a four plus plus year low this week Pan American same thing these are like the creme to La Creme in gold and silver so if the biggest best known stocks are

Getting hit look at some of the Juniors I mean it’s just ridiculous right now um I mean there’s good value out there so I’m looking at it and saying hey if I can if I’ve waited this long I can stomach maybe another 10% 12% loss because timing the bottom in anything is

Very difficult we always coach our clients like we buy six to 10 times on average if I were to look at my average holding we don’t pick one entry point and say this is our entry point I think that’s somewhat flawed it’s just it’s just flawed because you you can’t just

Get the timing correct you have to revisit that thesis and say okay I bought this thing at a dollar it’s now at 80 cents I’m down 20% but let me talk to to the CEO again and see if something’s changed and if it hasn’t changed we go back and buy 20% off right

Like I mean that’s what you have to do to build a lower cost basis and then make money in some of these names what’s up guys quick break my name is Jay marstin I’m the CEO of Cambridge house and the host of The Vancouver resource investment conference I wanted to

Quickly Point your attention to a link right beneath this video where you can subscribe to our new Weekly Newsletter if you want to better understand the minds of the best investors in the resource space subscribe to this newsletter I author it personally every Sunday and I love writing it hit that

Link below to subscribe all right back to the interview well let’s shift to the broad economy for a moment um Don you posted an interesting chart on Twitter recently aggregate hours worked six-month percentage change and you wrote now you know why we aren’t in a recession but also why we are

Approaching one um I’ll put this chart on screen right now could you break it down for us what it means a and how it affects your view on on the recession question and then John I’d like to get your view as well the reason why I said

That this is why we haven’t had a recession is that it shows the strength in the labor market but simultaneous to that versus his historical before recession see and but simultaneous to that it shows how every single time we’ve had a recession we”ve D it’s clean it’s clean

As it’s clear as day exactly what happens to labor you see this this big negative drop and so what we’re seeing is we’re on the precipice of it so we haven’t gotten there yet and so we’re on we’re really really close to a recession so it

Shows you that this if you go to you look at the chart if you look at timing wise the labor market has prevented the recession but simultaneous to that labor is a lagging indicator lab labor is the last thing to fall before recession so this chart shows you how labors

Prevented the recession but labor is getting ready to I mean if you look at the chart you can see that it we really really close to going negative and I don’t see and the trend is pretty strong so I don’t see that going away and so and then you also have

Corporations uh I think it was like 30 or 40% of Corporations said they were going to actually cut this year which is a huge number so we have pressure on labor pressure on layoffs and simultaneous to that I’ve been reading and watching podcast where guys have given really good analysis on labor

Talking about how there was um basically a big labor pool if you will and that labor pool um was causing the market to to stay stay strong people coming into the market going into basically coming back from Co and going to work now that is all gone that Tailwind is

All gone now and so now it’s it’s it’s basically and you had open jobs there was there was more open jobs huge open jobs now it’s coming down so everything is it’s the Tailwind is all kind of Gone Away here and there’s two other Tailwinds that have left that I think

Are very significant one is what Lacy Hunt’s been talking about and what he’s talked about and I think this is really significant in my opinion is this idea that we now we have a net capital NE negative savings rate and that when you have that NE negative savings rate the

Capital is basically getting sucked out of investing it’s like Banks if you if you will and so it puts a drag on the economy so lazy hunts basically saying that that net positive is now become um net NE negative and that’s a big Tailwind then the other headwind the

Other headwind which I think is also significant is the lag effect of high rates now we’re starting to see that bite quite a bit in the Auto industry and I think it’s also and it’s also hitting in the in the housing now that auto and the housing are are two of our

Largest sectors and they’re both neg not negative but they’re trending negative trending downward and when do you ever have a you know pal did a 60 Minutes interview last Sunday and he said that the economy was strong at least five times he kept saying it over and over

And over again and I really feel that it was spin he was basically trying to convince us the economy is strong and I I just I don’t think it is and and the that the lag effect of these rates are starting to bite here and um the other

Thing that was amazing about that interview is I wrote down like 10 items that they didn’t ask him questions about 10 significant questions and it was like they were just throwing One softball after another it’s almost as if they gave him the questions to ask him and they didn’t want tough questions about

The economy because they didn’t if he would have asked all these tough questions about the economy he would have been he would have looked foolish keep saying the economy strong over and over again um and that’s kind of it’s kind of what’s happened since I you

Could say 20 20 but I always go back to 2016 it’s like just Total Insanity it’s like nobody there’s no transparency and everybody’s spinning everything and nobody wants to really talk about the truth I think the wall Street’s spinning the strength of the economy right now definitely the fed and

Um you hear it over and over again and and you look under the under the hood and it it just doesn’t resonate it doesn’t make sense and so that’s why I’m very bearish I think we are heading to recession and once it starts I think the

FED is going to be the emperor with no close and everybody’s going to see that the FED is basically no longer this you know this Juggernaut that can do whatever it wants I think it’s going to be shown to be feckless here I actually said tweeted that the FED basically is

Powerless right now there’s nothing they can do they can when they look when they end up when they do lower rates in in my opinion it’s not going to help and that’s when it’s that’s when the emperor is not going to have any close when they lower rates and the economy gets worse

And I think that’s what’s going to happen yeah that makes a lot of sense and I just assume Central Bankers are lying anything they say I mean if I shared my real thoughts about Powell and and Central Bankers in general this would not be a family-friendly program

So I will refrain from doing so um John your thoughts on uh the recession question and and all the information that Don just shared there yeah um I I have not seen that that that uh chart and and uh so I can’t comment directly on it but I can say

That you know we walked back our recession we extended our recession talk last May because we were talking July of last year for quite some time in 2022 and then we said in may look this Tech and AI thing looks real to us we didn’t go long that sector in full disclosure

But we just said this looks like it has legs which it has uh now we call that the Magnificent s right it’s like there’s actually a term about this this movement of the the seven names in the S&P that are driving the S&P higher in our view um but we walked back that

Recession talk then we walked it back again in November so now our current recession you know uh estimate is second half of this year I think it’s going to take a little more time because when you look at real estate for example I you know this Jesse I’ve said this on your

Awesome program commodity culture that I personally sold all my homes within the last 18 months except for the one I live in because I believe we’re near a top right I don’t know where the top is I just know that this is a great exit right and I’m I’m making money so I’m

Happy that I’m not getting greedy I don’t think a lot of people feel that way I think a lot of when I see just here in my part of the western us there are cranes everywhere it is like this this place is getting crazy California Arizona the building here is going to

End up badly for a lot of these construction companies because they’re going to be they’re going to be carrying a lot of inventory in my opinion um to Don’s point you know when you look at the auto business I have a friend who runs one of the biggest dealerships on

The east coast and he is like head in hands right now and and I look at like CarMax and and and carvana and some of these things look like amazing shorts to me at some point because I think with auto loans being at um uh default rates

Being at all-time highs I mean you know this is telling you something it’s like people are going to turn in the keys to their car and turn in the keys to their home before they’re going to do anything with their family right you saw this in

‘ 08 like this is going to happen again at some point well let’s touch briefly on the Magnificent 7 and the broad Market how much of the continued all-time highs in the in the NASDAQ and the S&P is kind of a psychological effect um and what I mean by that is

When we look at the consumer I think there’s a ton of people right now who are living a in the sense that they’re pretending inflation doesn’t exist and they’ve they they’re used to living a certain lifestyle it’s kind of a recency bias so they continue living that lifestyle regardless of the fact that

It’s getting out of their price range they’re putting it on credit and eventually the moment will come where it all needs to be paid back and that’s when the truth will sink in do you think there’s a similar recency bias with investors in the Magnificent 7 I’m wondering your thoughts there and also

How much of that is driven by index funds ETF investing how much of that is driven by Financial managers who have to hit their benchmarks and all their peers around them are pouring money into Nvidia Etc and it keeps going up um so John I’ll start with you on this one

Kind of a big question but tackle it however you wish well I I’ll tackle the first the end of it first which is coming from the asset management world meaning ETFs and mutual funds especially in mutual fund land you have to beat a Benchmark to get bonus that year end and

So if you are a large cap core manager and you’re bench against the S&P you have to beat that that bench mark to get paid a bonus a lot of times this is true of portfolio managers in the US now how do you do that in a market like last

Year it’s very difficult you have to own Tech if you didn’t own Tech last year as a large cap core manager it AOW large cap anything manager value growth it doesn’t matter how did you beat the S&P didn’t I mean nine times out of 10 easily so you have to own them stuff

It’s it starts feeding on itself right you have to own Apple you have to own Amazon you know it’s it’s crazy so when you look under the hood of the spy and understand that you know 26 to 30% of that ETF at all times last year was technology like retirees are owning a

Lot of tech right because their 401K is heavy in options like large cap funds like the S&P 500 and so they’re they’re exposing themselves to way more risk I think than they understand um they don’t care right because their statement keeps going up so at at some

Point they’re going to care you know um and I I I we’re not there yet but um I will say that I got Tech wrong you know I did make that call in May which was correct but I didn’t capitalize on it I didn’t go along a lot of stuff like meta

Or any of that stuff it’s worked out tremendously well for clients but you have to always reassess your your your thesis right meta looked great about a year year and a half ago as a value play almost now it looks like a pure momentum play it’s like you have to understand

How that’s changed and what kind of you know people are are buying that it’s it’s people that are chasing something in my opinion maybe right so we don’t want to chase anything um and so we’re we’re happy to let that go and make money somewhere else yeah that makes

Perfect sense Don your thoughts on the state of the broad Market what what’s it going to take for for the house of cards to come crashing down well I I mentioned it before I I think it’s going to be labor so once uh unemployment ticks up above

4% I think then it’ll the house of cards will start to fall so yeah for me it’s it’s I think labor is the is going to be the key to it all so yeah the market you know the one thing that I keep hearing is Wall Street is is really starting to

Complain I don’t know if that’s the right word um about the market being topheavy with you know these seven names it’s actually it’s six because Tesla hasn’t really performed um so but then there’s some other names that aren’t in the top seven so it’s mainly about 20 names maybe

Mainly in Tech that are kind of holding up this Market but the rest of the market isn’t doing so well like if you look at the Russell the Russell has not performed well so the small cap companies have not and I think the Russell was kind of more indicative of

Of the economy as a whole I I I just you know like I said pal said they kept saying the economy is strong over and over again I just don’t see it I think the pressure is on him to to make the economy strong I don’t think he wants

That pressure on his shoulders so he’s offloading it saying it’s already strong um so you know you mentioned a recency bias I see it more as a kind of a normaly bias and the normaly bias is that America is always been this Juggernaut economy that always bounces

Back so you always want to be in the market and and I’m in the the camp I’m probably in the minority here I actually think that this is we are entering the am American Empire the American era is ending and I I actually think it’s going

To begin this year 2024 I’m calling this year zero because I actually feel that the America as we’ve known it the Juggernaut economy is it’s basically over and the reason why is because you we’ve used debt to basically maintain our standard of living since the 1980s when when Reagan basically created went

Away from merism went for globalism in the 80s simultaneous to that when he used globalism simultaneous to that he used basically mmt where he’s basically saying debt doesn’t matter anymore we can we can you use debt during growth if you remember when Reagan got into office 1981 by 882 the economy was growing

Again but he never put his foot off the gas as as far as doing debt the deficits M were huge all through his presidency he came into office and debt was under one trillion he left office and it was 2.6 he had large deficits through the his whole Administration and we

Basically have lived off of debt since the 1980s well guess what when Reagan was using debt that debt actually generated wealth gener well not wealth might not be the right thing generated GDP now now it’s we’ve gotten to a point now where it’s like pushing on a string it’s like

I don’t care how much debt you use you’re not going to create you’re not going to generated growth so we’re basically turning Japanese is and same thing happened to them in the 1990s they had the Lost decade where they tried to inject all this money all this debt into

Their economy but it didn’t work they couldn’t create any growth it kept going up and down up and down and you know they averag that Whole Decade less than 1% growth and I think that’s exactly what’s going to happen to the US starting in 2025 I think we’ll be

Negative this year and then 2025 forward I think we’ll be 0o to 1% for the rest of the decade which our our last decade so when growth stops in this C country it’s going to be really ugly because we live off of debt and so if you live off

Of debt the banks are like there’s no growth I’m not going to make any loans so credit contraction will happen and and we can’t you know like I said our standard of living we have literally been dependent on utilizing Credit in debt you know car loans Home Loans uh

Credit cards I think that credit’s going to get contracted um severely and when that happens the economy is going to hit a wall and that’s that’s the paradigm shift that I’m talking about um and I think by the end of the year I think people are going to be

Shocked you we had shock in 2016 when Trump won ran ran and won that shocked the the whole country big time right then in 2020 we had Co that shocked the country I believe that 2024 is going to be even bigger shock because the this America is basically one big Corporation

You pulled the rug on our economy and that’s going to be the biggest shock of all and so I think that’s what’s coming in 2024 fascinating and I think that’s a a great note to end things on gentlemen once again round two lived up to expectations before I do let you both go

Don tell us about Goldstock data.com and uh what it is you do there um so yeah so I have you know one of the biggest databases on gold and silver mining stocks there’s 860 companies in there so I cover basically you know the database and the search

Engine and all the data you’re going to get it so if you own any gold and silver miners you definitely want to check out my website plus you can follow me on Twitter just daett great I’ll put links to those below and John tell us about fenet Consulting

Where people can find that and what it is you do there sure it’s fenic consulting.com uh we post our performance there just my performance as an investor so everyone can see it um we’re very transparent um we uh try to we have a newsletter called fed Commodities report which covers all

Commodities uh that’s a nice entryway into what we do and and and our thoughts uh we also have a real-time update service so it’s macro you know basically talking about events like October 7th or like when we lost those three troops you know uh I guess that’s two weekends ago

And what that might mean for gold and silver in a in a US military response uh we didn’t get to that today but man I mean things are really heating up in the Middle East I think people need to watch that um and so you know we talk about

That kind of stuff and how it will impact certain Commodities Jesse right or we’ll talk about the nickel thing we just talked about on your show today um as as things to watch right we talked about the uranium thing last week um you know saying look at this shortage here

From the largest you know player in the world like this is important and uranium stocks really popped on that so I think having that real-time aspect to what we do is helpful for a lot of high net worth clients um and I will say Don’s website is just fantastic so I encourage

People to check that out right well I’ll put a link to fenic Consulting in the description as well gentlemen once again thank you for coming on it’s been honor thanks Jesse thanks Jesse