Navigating Financial Crises: Insights from Bob Moriarty and John Rubino

Navigating Financial Crises: Insights from Bob Moriarty and John Rubino

total weaponization of the world’s Reserve currency and that’s already um a huge problem for the us out there because we’ve we’ve weaponized the dollar long ago you know and and we use the power of having the world’s Reserve currency to B bully other [Music] countries Commodities are the cheapest they’ve ever been against the stock market golden silver are the cheapest they’ve ever been against Commodities and the gold silver stocks are the cheapest they’ve ever been against [Music] gold hey guys today you’re in for a treat I am Bob Marie Ari and John Rino John Rino is a former Wall Street financial analyst and author or co-author of five different books including the money bubble what to do before it pops and clean money picking winners and the Green Tech boom he founded the popular Financial website do collapse.com in 2004 sold it in 2022 and now publishes John rabid no’s substack newsletter at reno. substack docomo morard has Wikipedia page which I credit this bio to he’s an American Marine f4b fighter pilot who holds the record as a youngest Naval aviator age 20 in the Vietnam War achieving the rank of Captain in the Marines at age 22 before leaving the military service in 1970 he recorded 824 combat missions he holds 14 International Aviation records including the record for flight time between New York to Paris in two different categories he’s the owner and publisher of 321 gold.com where he publishes and reviews different money stocks from around the world I have known the work of both John and Bob for the past several years and I am now pleased to be interviewing them together in person and and call them both my friends I hope you enjoy this as much as I did thank you how’s it going guys great Andy thanks for having us on you’re very welcome uh Bob let’s start with you here what’s your 30,000 foot view of of everything and let’s start with the economy um I I I look down and I see porine taking a bubble bath and it doesn’t make any difference what he does it’s going to burst a few bubbles uh John is it’s eminently more qualified to discuss the economy that I am but uh two 2024 is going to be a year of total chaos we’ve got so many black swans uh the Trump trial going on now the Trump trial in Georgia the election the Russian Ukraine thing the 96 billion dollar poured down the pole uh there are some really scary things and it’s a good time for investors to be ultra cautious yeah I would agree with you John what’s your 30,000 foot view on where we’re at in in timeing this year well the uh porcupine analogy is a good one you know we’ve blown they call it the everything bubble now for a reason because there are so many different things out there that could blow up and uh to flesh out the story just a little bit um you know where we are now is the result of an experiment that we started in 1971 with fod currencies where we both basically did away with the backing of the world’s major currencies took gold out of the equation um and gave the the big governments a an effectively unlimited credit card and you know human nature being what it is they’ve abused that privilege to the point where everybody at every level in every major country is wildly over indebted which means we’re we’re pretty much guaranteed chaos going forward and the the nature of chaos is that it’s not predictable in in its specifics but in kind of a broad brush analysis it’s very predictable you know wild crazy things are going to happen when the various bubbles start blowing up and uh and Bob is exactly right we need protection from the chaos and that should be kind of the the overriding investment pieces here is what can we do to make ourselves resilient and um to an extent impervious to financial crisis because that’s what we’ve got coming our way in one way or another yeah I’m glad you said that and I want to get to that probably the second half of this talk and it’s really I find it I guess it’s um I find it not helpful when we don’t share if you would a path or just a way or just to give encouragement of people what to do some kind of Direction not advice but just give some people some kind of Direction John let’s go again with you is where are we at in the baking system uh Bob and I talked about just how the baking system for lack of a better word it’s starting to get gummed up right now and is starting to hit right now what’s your opinion on on all of that yeah over the past decade or so we had a naturally low interest rates so a lot of commercial real estate and particular um got planned and designed and built using really cheap financing well now a lot of those debts are coming due now and there’s no way um a big chunk of the country’s Office Buildings are still financially viable if they have to refinance at today’s interest rates so you’re seeing you know every two weeks or so there’s a story about some $180 million office building that’s sold for $12 million or something like that well now that means there are embedded losses in commercial real estate and um somebody has to take those losses and a lot of that bad paper is on the balance sheets of local and Regional Banks so in the year ahead well actually it’s an ongoing thing it’s happening now but in the year ahead it’s going to get worse a lot of local and Regional banks are going to have to report those losses and that’s going to Spook their depositors into pulling money out uh which forces them to sell some of those depreciated assets and take even bigger losses and so on until the banks start fail then that spreads through the sector the US government has to step in and bail them out and then that shifts the U potentially it shifts pressure over to the currencies because you know who wants to own the currency of a country that’s doing yet another multi-trillion dollar bailout so that that might be the story of the next year where um you banking crisis leads to some kind of a broader crisis in the financial markets yeah well we talked about this and you knil that it was hitting I think it was this was last my memory fails me but this was about a month ago I want to say um what’s your opinion on where we’re at in the banking in the banking system right now well I’ve got the details and what John was just talking about it was the AT&T building in St Louis and it once had a value of $200 million and it sold at auction at 3 and half million uh that is across the board in in commercial real estate and frankly I’ve never heard of losses like that so the banking system should have crashed in 2008 but we bailed it out and it should have crashed a year ago in March and we bailed it out and the bank Term Loan facility ended on March 11th the banks will start reporting earnings this month and the banking system is far more shaped now than it was a year ago and it’s far more shaped than it was in 2008 and one of these days it’s going to break now here’s here’s two things going on that I think are going to be important now you know i’ like to ask questions that are impossible to answer do you have any idea of how much see States Israel yearly I have no clue 3.3 billion now in in the 95 or 96 billion doll bailout that Congress just passed how much is reserved for Israel I have no idea 26 billion wow now if you’re donating 3.5 billion a year and you decide to to up the allowance to 26 billion that comes under the are you kidding me right I mean you you can’t possibly be serious and something that is part of the bill that they passed was to steal the Russian assets that are available to the United States and donate the money to the most corrupt nation in the world and that is so insane the ukra Ians lost the war in March of 2022 and they came to the table and they agreed to go back to the lines prior to February 2022 and NATO and Boris Johnson said don’t do it by stealing the Russian assets theyve just told Every Nation on Earth if we disagree with you we’re going to steal all the assets we can I I believe there’s a good chance that’s going to be the kiss of death to the dollar uh the banking system is one giant Black Swan and the dollar it’s the other black swans and they may crash together yeah John what’s your opinion on that or what do you I think that’s very insightful Bob um what’s your opinion on what what Bob just said well yeah we just we did do two things we um allocated another hundred or so billion dollar for other countries at at a time when the US economy is imploding at least our cities are imploding in U us culture is is in grave danger right now and yeah the uh the idea that we’re going to take another country’s Sovereign assets and use it to fight a war against that country is completely insane you know it’s a total weaponization of the world’s Reserve currency and that’s already um a huge problem for the us out there because we we’ve weaponized the dollar long ago you know and and we use the power of having the world’s Reserve currency to B bully other countries if they step out of line from the the us Empire’s dictates we kick them out of the Swift um International Bank clearing system or we we um sanctioned a bunch of their exports or Imports or whatever and and we basically um punish them using the dollar so everybody wants out from under dollar hegemony out there and this is just going to accelerate that process who’s to Store Reserve Assets in London or New York after this um nobody you know and nobody in their right mind anyhow and so that’s going to accelerate the dollarization process which is already underway and which is is not going to wipe out the dollar but it’s going to diminish the power of the dollar and therefore the US’s influence in the world and it’s a bad trend from that point of you yeah if you could work that out too I had Andy sheckman on um with mil sprinklin about a I want to say a week ago and he talked about how this is already gone what you just said John it’s already going on with the bricks Nations there is a a I guess a pause that I would have in the sense of if not the dollar and I’m agreeing with everything both of you guys have said but if not the dollar then what I guess as okay Nao do what what did Napoleon do tell me what Napoleon did he invaded yeah but how did he pay for it how did he pay for it tell me he went to gold and silver right okay so let’s take that and I’m a green just but I want to work that out I want to hear it from you so he went to gold and silver that means that gold and silver would have to be significantly repriced and I’m not talking repriced as in like $2,500 an oun per gold and $50 an oun for silver I’m talking 510 well I don’t know the number 20 times the current price that is at you you just made a fundamental error and logic okay tell me when you’re talking about the price of gold how many Commodities are you talking about the price of gold I’m talking about one commodity gold okay but what’s it priced in dollars thank you you’re talking about two Commodities talking about gold and you’re talking about the dollar the really interesting thing but it should be obvious to everyone gold doesn’t change its value an ounce of gold 2,000 years ago it’s an ounce of gold today period okay it’s the currency that changes its value and and I I I applaud people who understand the price of gold it’s going to appear going higher but the flaw to it is try try to price gold in Zimbabwe dollars and it’s a waste of time the dollars buy more the real key of what Napoleon did uh the French went through two different currencies from 1789 until uh 1800 when when Napoleon took over they had the aot and then they had the Mand at both of which failed both went at hyperinflation total chaos Ranch people couldn’t eat food couldn’t be delivered to the cities Napoleon stepped in he shot a bunch of people and he went back to gold and silver you have to have an honest money to have an honest economy abs absolutely absolutely John what what are your thoughts and what Bob just shared well you know there a really interesting thread that runs through the Napoleon story which is that when when you have a hyperinflation when you destroy the currency of a country um you also kind of destroy the culture because all the people who trusted the country are the ones who get impoverished because they’re holding the country’s currency when it’s inflated away um and so they tend to look to a strong leader to save them from all the Carnage financially and culturally and and so they they’re open to a dictatorship you know you had Napoleon after the hyperinflation France and you had Hitler after the hyperinflation in Germany so that that explains a lot of today’s politics right people are basically willing to put the um the Constitution aside in the US if somebody’s willing to come in and clean house and um that so that’s one of the real dangers besides the whole financial crisis Currency Reset thing which is clearly coming here right um but we’re looking at an authoritarian government um in in the same process and that’s what makes this so scary you know financial crisis happen and you get through them but but when it’s a financial crisis followed by some kind of dictatorship that’s a whole different animal and that’s what worries me about today is that uh you know a lot of the trends are pointing in the direction of you know another Napoleon another Hitler or something like that taking control of a big part of the world yeah yeah no I would agree and it’s makes it absolutely very it makes it terrifying um let me ask you John this is um before we move on is um is there anything because of your background is there anything that we should be looking for aware of right now that could be hitting the banking s uh the banking system as we speak or within the next few weeks or few months is there something that we need to be aware of well well you know weeks and months are are very hard to predict and i’ I’ve learned never to try you know the old saying you know predict a thing or a time but don’t prict both and so so I have no idea what’s going to happen in the next few weeks or or few months but the big picture is kind of baked into the cake you know we way too much money uh in order to finance all this debt we have to create enough currency that’s going to devalue the currency in some fundamental way so that’s that’s the the overarching thing now in the short run now we we’ve got crosscurrents especially in the US economy where on the one hand the US government is running massive deficits we’re at like a trillion five a year right now heading for two trillion and that’s very stimulative because they’re just making money out in there and dumping it into the banking system on the other hand you’ve got all this debt out there that is being repriced and spiking everybody’s interest costs so personal interest expense which is what you know we we three and everybody else has to pay on our debts is going straight up and the government’s interest expense is going straight up up too um and those are are fundamentally deflationary because they um they they make it hard to pay off debts and lead to defaults so we’ve got this kind of you know this mountain of bad paper which is very deflationary out there and we’ve got a government that’s just running massive deficits which is inflationary and so that’s why we got this kind of stasis economy right now where inflation is above the fed’s targets and it’s not going down um but the economy is you know it’s it’s providing mostly enough jobs for people but there are more and more layoffs out there at the same time and more more defaults on credit cards so one of those friends will probably win and you know I have no idea which one it’ll be in the next year or two but we either have kind of deflationary Crash like in in 2008 or we have Rising inflation and then we get the 1970s on steroids and I honestly don’t know which one it’s going to be you know it seems like could be either depending on the decisions that are made going forward either one of them is a huge crisis for regular people and that’s that’s why we should all be trying to protect ourselves as best we can against some kind of Crisis because something is definitely coming John I wanted to open it up to you you said you had some questions for Bob so I wanted to give you that opportunity I have many questions for Bob too but I want to point to you go ahead and ask some questions but that’s coincidence I that’s some questions for you always turn around ask me questions then I can’t answer go ahead John okay okay yeah Bob I do have a lot of questions for you one of them is is military and I think you’re uniquely um qualified to answer this but it it seems like we’re we’re in the early part of a technological Revolution now with what’s going on in Ukraine and just what’s being developed where um you’ve got this really high-priced Hightech Hardware out there and you’ve got to be encountered by swarms of cheap drones that almost anybody can make and almost anybody can send out in you know in by in the thousands um and is that changing the nature of asymmetric Warfare so that our you know um super high-tech fighter jets or our aircraft carriers aren’t the unbeatable weapons that they used to be because you can send out drones that in high enough numbers that can get through any kind of air defense and then a lot of these multi-million dollar or bilon dollar machines for you know a fraction of the cost or you know an order of magnitude lower cost and does that change the battlefield going forward in a way that’s really dangerous for the big Powers now it’s time for me to ask question of you because the question is far more important than the answer what changes were there in military hardware in the US Civil War what was introduced o you know I want to say Gatling guns but I might have my timing wrong there that’s one what else okay let’s see uh there were cannons before that there were were were there rifles that you don’t have to load with a plunger mean is that the change no submarines oh right yeah I didn’t know that yeah let’s go to World War I okay what military Advance what’s there in World War I now I would would say submarines for that and and tanks Winston Churchill gets credit for inventing the army tank and uh hepls right yep very good World War II oh um jets for sure and at the have nuclear weapons no not Jets no what did JS fly off oh aircraft okay Vietnam well then then they had Jets yeah I yes yeah and um high altitude bomb bombers let’s see um stuff like napom these these really weird destructive things hel helicopters okay okay now I’m G to tell you something that I haven’t heard anyone else say say and it really staggers me when Iran attacked Israel it probably cost Iran $50 million for the 170 uh drones and 70 missiles and some Hypersonic cruise missiles it probably cost the UK France Saudi Arabia Jordan Israel in the United States 3.5 billion who won well okay that that was kind of the question I was asking I think the uh the guys with the cheap drones uh stand to win because their weapons work but they’re way less costly exactly because War at the end of the day is a factor of how much it costs when the Germans sent their tanks to Ukraine they were sending over $20 million tanks and the Russians were blowing them up with $5,000 drones that’s one of the biggest changes in military hardware that I’ve ever seen and and literally it was enough to rotate 180° the power in the Middle East between Israel and Iran I I mean it was an absolutely amazing attack and what’s even more critical for the United States the attack just proved that all this heavy expensive techno stuff the US produces doesn’t work and that’s going to be a giant giant giant change so people are talking about whether Iran’s the good guys or whether they’re the bad guys or whether Israel’s committee genocide and what they should be focused on is the shift in geopolitical power that’s the biggest shift in 80 years but you you raised a really good question every war changes military hardware and certainly every country in the world today is looking at Ukraine and looking at Israel and saying we need to change our way of thinking the the asymmetric aspect of the war is absolutely amazing when you can take out a $20 million tank for five grand that’s really cheap and let’s take it back to my experience when I was in Vietnam I I was flying F4 but I was also flying Cessna spotters and we picked targets it was the most dangerous airplane to fly in Vietnam it was the smallest airplane in Vietnam but it was the most effective because we got to pick the targets they’re doing that with $1,000 drones now that that’s absolutely amazing they have totally changed Warfare so what does that mean for aircraft carriers in particular for instance aircraft M billion dollar and it you know it constitutes the the most powerful Air Force wherever it goes right right but what happens if 10,000 drones get shot at an aircraft carrier you don’t need $10,000 drones you need one of those Hypersonic missiles that Iran Russia and China have uh if you go to a map that shows you where all the aircraft carriers the US has are located physically right now you notice none of them are near the Black Sea or near the mediteran ukan or the Red Sea for a reason they’re undergoing maintenance back in the United States and they’re paining big circular Targets on them so so it but is that part of the same story though where this this these Hardware um these machines that cost billions of dollars are are no longer defensible anymore and correct what happened to battleships at Pearl Harbor yeah they’re bittering yeah planes they were proven to be an absolute waste of time and the aircraft carrier came into its time but the aircraft carrier now is nothing but a portable Target and some of the aircraft like the F35 uh the US debt formally is 34 trillion $2 trillion do went into the F35 only a third of the airplanes are are air worthy at any given time it’s the biggest Fiasco in US military procurement history it has shorter range than the airplanes that I flew 50 years ago so uh the military industrial complex needs to have a revaluation but the Chinese equipment and the Russian equipment and the Iranian equipment is absolutely Superior to that of the West so so are we gonna pick a fight and lose at some point in the not too distant future uh why why don’t we ask how many WS have we won in the last 80 years it’s a lot easier question but see we we still we still think our our military if we if we got serious the the consensus in the world is that we would win any fight we get serious about winning but could that turn out not to be true in a fight where we’re serious well it has every time in the last 80 years the secretary defense Lloyd Austin went in front of Congress last week and he was asked is there genocide in Gaza and there was what’s called a long pregnant silence and Lloyd Austin clearly didn’t want to answer the question but he came back and said something to the effect of well we don’t we don’t show any particular signs of it now here’s a deal from a guy who’s actually been at War it’s genocide now you can approve of it as a lot of people do but it’s genocide it it is war crimes it’s babies being killed it’s 14,000 children being killed uh they just unearth a few hundred people who had been buried in bags in a mass grave and some of them were tied with their hands behind their back and their legs what what’s going on is far worse than anything I ever heard of or saw and the secret defense doesn’t see it the the government of the United States is so corrupt the doj is corrupt the CIA is corrupt the FBI is corrupt they’re going after Trump who I frankly I don’t particularly like and they have warped the law to do it and that where where do you go when you’re department of justice has been corrupted how do you advance from there how do you get better and the answer is I think you have to have Civil War or or a revolution yeah it does feel like we’re we’re kind of evolving a dictatorship here piece by piece right where um this part of the criminal justice system does this thing that it never should have done and then the Congress does something else and and the NSA is spying on us in unconstitutional ways and the CIA is spying on Americans which it was never supposed to do those are all kind of separate things but you put them together and and yeah you know we’re we’re becoming a country where the secret police spy on us where um dissident political candidates get uh prosecuted like in a Banana Republic so you know it’s it’s a scary picture and it’s it’s not something that we can really do anything about that’s what’s that’s what’s so frustrating that’s kind of what drives me so deeply into the whole investing thing because at least you can decide what to do with your finances you know you can’t stop the CIA from from doing whatever it’s going to do but you can um you can protect yourself from the inevitable currency crisis that’s going to flow from all this other stuff by investing in the right way personally you know I know I know that’s kind of a narrow self-centered point of view but it’s like that that’s the only place where we have control anymore you know it’s the only psychologically safe space I think you have to address that because it’s very I don’t want to say very but it’s empowering and I think it’s what we need to give people especially and I think about selfishly through for myself and my family I want to be empowered and so I want some kind of control when stuff hits the fan or as it’s hitting the fan Bob real quick and I’d like to go into that next but Bob before we do that Bob do you have any um questions for John I I don’t but I would like the opportunity to make a comment I I read he’s an excellent writer and he’s been contributing for almost 30 years and I I think he should be appreciated for that that’s nice and you’re right we we have been at this for a long time there there are videos of me saying a lot of the same stuff where I have black hair seriously old videos I I used to have hair yeah me too 30 years ago Bob Let’s uh let me ask you this and um and then I’ll POS the same question to so let’s Empower people what do people if they haven’t started what do they need to do now and I don’t remember who had that saying but hope is a terrible place to be we don’t want to rely on hope we want some action and I think that gives people hope so let’s start with you and then John I’ll POS you the same question what would you say first of all we’re going through the world that’s G through hundreds or perhaps thousands of times before and made it through uh another two authors I’ll give credit to or the two authors of the fourth attorney they predicted exactly what’s happening now 25 years ago and they said you’re going to go into fourth turning it’s the crisis phase and you’re going to have a large group of people trying to go to totalitarianism and then you’re going to have a smaller but growing group people uh advocating for Freedom now someone came to stay with me recently and she knows uh she lives in a college town and in her off hour she drives a lift and she talks to these kids about Finance investing in the world and I will tell you that my belief is the average people in the United States right now are Furious and it’s true of the Latin it’s true of the whites and it’s true of the blacks when you look at what the United States is doing on the southern border nobody tries to defend it but we brought in I think 12 million illegal immigrants and how are we better off and then you see this obscenity of giving money to the most corrupt Nation on Earth that lost the war two years ago and Israel it’s in the midst of a genocide there’s something obscene about that The American Secretary of State blinkin was talking about Ukraine and he said that as far as the United States is concerned it’s a win-win because 90% of the money it’s coming right back to the United States to create well-paid American jobs now of course the flaw to that logic is somewhere between 700,000 and a million Ukrainian soldiers have been killed so my question is how many Ukrainian soldiers do we need to kill to generate one high paying us jobs some of the things the government is doing now it is so corrupt it is so obscene and there are a lot of people who see it and the government has gone too far and when the banking system fails and they try to seize everybody’s money and everybody’s uh brokerage account there will be a revolution so what poses the question then so I’m a 30-year-old living in middle of America what do I do we insurance policy you got insurance on your car of course you have insurance on your your house yeah of course why in case something happens to me and or something happens to my house and it’s no longer has the value that it had but you don’t care about your other assets I care about them absolutely I see they got an insurance policy okay thing is and I differentiate I would love to hear John’s comments on this I differentiate the go bugs who say bye bye bye bye bye okay who worship gold I look at gold as an insurance policy against chaos okay uh you could see what’s happened recently frankly I think the uh correction is over I think we’re going to go right back up the buying in gold and silver right now is controlled out of China and I think it’s a lot more powerful Than People realize and I think the United States is committing suicide financially and morally and I I think the people know it and we we have to educate them and of course that’s what I do and that’s what John does and that’s what you do we educate people and tell them why it’s important for them to have an insurance policy forget you know go going to 50,000 you need to have something that’s going to have value when the banks close because the banks are going to close John what are your thoughts to that or your anwers to that question yeah we should think of gold not as an investment but as a form of money so what you you know the savings you um used to keep in dollars ought to be in gold now because gold is a form of money that’s going to hold its value while the dollar is inevitably inflated away and uh with what’s happening in China now is is interesting because they have Capital controls their people aren’t allowed to to for instance buy things overseas um in at scale and there’s a lot of things they can’t invest in domestically but they’re allowed to invest in gold and they are worried about what’s going to happen to their economy so they’re buying gold as a form of insurance against the crisis that they see coming in their currency and in their financial system we should have that same attitude here you know so you you know the gold bug attitude over the last 30 years of of buying has served them pretty well I think now because now they they’ve got big stacks of gold and silver um but yeah I don’t think we should um you know have any kind of a religious attitude about any one asset and I think the different variations in the precious metal space are subst you know account for different um points of view for instance you want precious metals physical where you can reach them uh as your replace currency that’s your the base money in your financial life and then from there you can Branch out into other precious metals related things like the mining stocks which are they’re Investments they’re not money but they’re potentially really lucrative Investments so um you can stay kind of within the um the hard asset space where there’s land and there’s precious metals and there’s some other commodity Investments with your whole financial life you know you could build a portfolio that basically just covers the um hard assets the real asset Waterfront those are things that governments can’t create more of on electronic printing presses and you can be pretty in pretty good shape financially if you do that because you’ll be owning things that will tend to do all right in the kind kind of Crisis that’s probably coming and that’s the intellectual challenge how do you want to set your portfolio up so that it’s mostly in real assets and um you know which copper companies do you choose to invest in which gold miners things like that there’s a lot to think about but it’s you know it’s containable you you can a regular person can learn enough to be able to do that and I think that’s what we should all mostly be doing now yeah no I would agree and I would agree with absolutely with both of you I would add to is uh be a part of a community just because there strength and numbers of a like-minded community um whether that’s a church group or it doesn’t even have to be that it just just neighbors if you live in this the suburbs like me um I think that’s a huge huge benefit that and then also just trying to be more self reliant um we have a big Garden here in the suburbs of Atlanta uh I interviewed Bob several weeks ago and he said his chickens he has chickens they fresh eggs I think anybody can do that kind of thing and that would just give you a for at the very least give you a lot of confidence to be more self-reliant yeah if you can be 20% food self-sufficient that’s a huge cushion against whatever comes your way you know so that’s something everybody should be aspiring to if they at all can do it you know if they’re not cramped in some little city apartment but if you’ve got some land you should be growing stuff on it yeah absolutely any final thoughts Bob um before we uh say our goodbyes uh I I believe gold and silver are going to continue going up and across the commodity Spectrum the stock market it’s the highest it’s ever been Commodities are the cheapest they’ve ever been against the stock market gold and silver are the cheapest they’ve ever been against Commodities and the gold silver stocks are the cheapest they’ve ever been against gold uh I follow sentiment closely and I would highly encourage both of you go to Stockwatch or right now and take a look at the volume on shares okay if you got a portfolio of 20 or 30 stocks take a look at the volume and you’ll be staggered at how little interest there is in in gold at near record levels and silver the highest in 20 years uh sentiment says nobody is buying into the rally which tells me it’s going a lot longer and a lot higher than anybody says and it’s an insurance policy Why not pick up an insurance policy when it’s cheap yeah absolutely yeah any final thoughts or words John for me I’ve got a last last question for Bob so Bob where where’s silver going to top out in this cycle well I can answer that I can tell you exactly what it’s going to do we’re all theirs uh tell me what rice of gold or rice of the dollar is going to be when it helps out okay let’s say gold 10,000 no no no no you cheated it okay we were talking about two different Commodities you asked me for the price of one and I’m saying tell me what the rice the other is when that happens uh here’s what I will say okay and and I have follow silver very closely but I’m not a silver bug silver bugs are house right crazy okay over the last hundred years okay and during half of that period silver was money and half of that period silver is not money uh the ratio between gold and silver has varied from about 17 to1 to 130 to1 but it’s average 53 to1 so when when the ratio is above 53:1 I’m a buyer silver and Below 53:1 I’m a seller of silver the people running around saying we’re going back to 17 or 18 to1 I don’t think it’s true I think in the ground the ratio is more like 26 to1 but still relatively meaningless uh silver is very cheap now and and I own a lot of silver but where it’s going I can only describe in terms of gold not in terms of the dollar because I I think the dollar is committing suicide but I think the ratio could go back to 25 to1 30 to one yeah yeah all right gentlemen I want to thank you so much for your time we’ve gone on for about 45 minutes and um and it would to be very respectful um but thank you so much and yeah just wish you guys the best and we’ll I’d love to do this again sometime thanks it’s a genuine pleasure I mean the crazy thing is I cannot tell you how many pieces we posted from dollar collapse okay you broke my heart when you sold it I just thought my God left me deserted me but uh I I I I have all the respect in the world for you and I’ve never talked to you and I’ve never met you yeah it it’s about time it’s an honor to finally meet you Bob look looking forward to that I’m meeting you face to face one of these days too buying new beer somewhere somehow yeah only biking so in Andy all right thanks gentlemen have a good day thanks but

John Rubino, formerly with DollarCollapse.com and now publisher of John Rubino’s Substack newsletter https://rubino.substack.com

Bob Moriarty is an American Marine F-4B fighter pilot who holds the record as the youngest naval aviator (at age 20) in the Vietnam war, achieving the rank of captain in the Marines at age 22. He is owner and publisher of 321gold.com

This video features an in-depth discussion with financial analysts Bob Moriarty and John Rubino on the current state and future of the global economy, banking crises, and investment strategies in the face of potential financial turmoil. They explore the weaponization of the US dollar, the undervaluation of commodities, precious metals, and mining stocks, and offer predictions about economic chaos and geopolitical shifts. The conversation also delves into historical and contemporary military technology, the impact of drones on warfare, and the implications for global power dynamics. Additionally, they discuss the importance of investing in gold and silver as protective measures against currency devaluation and advise on building a portfolio of real assets. The dialogue concludes with personal anecdotes and a shared consensus on the value of community, self-reliance, and preparing for uncertain financial futures.

00:00 The Weaponization of the Dollar and Economic Forecasts
00:50 Introducing Financial Experts Bob Moriarty and John Rubino
02:16 Economic Chaos and the Everything Bubble: Experts’ Views
05:06 Banking System Vulnerabilities and the Impending Crisis
08:25 Geopolitical Tensions and the Future of the Dollar
12:28 Historical Perspectives on Currency and Warfare
19:37 Technological Shifts in Warfare and Their Implications
22:15 The Cost of Modern Warfare: Drones vs. Traditional Military Hardware
22:22 The Geopolitical Shift: A New Era of Warfare
25:08 The Evolution of Military Strategy: From Vietnam to Drones
25:43 The Vulnerability of Expensive Military Assets
30:01 The Financial and Moral Bankruptcy of the U.S.
31:19 Empowering Individuals Through Financial Independence
40:42 The Importance of Community and Self-Reliance
41:43 Final Thoughts and the Future of Commodities