GOLD To $3,000 – Here’s WHY & HOW?! | Peter Grandich

GOLD To $3,000 – Here’s WHY & HOW?! | Peter Grandich

so when people ask is there an out I think the honest answer to tell people is no if we stay in this present State there is no out and that’s what we’re going to be facing and that is part of the reason I’m not skipping but it is a key Reason Why Not only was I a roaring Bull on gold and despite the rise I believe it’s a significant part along with the brick formation on why gold has done what it’s done hello and welcome back to Sor financially where we discuss the macro to understand the micro my name is Kai Hoffman I’m thej Jr mining guy on Twitter and the CEO of the Sor Financial Group and as you can tell I’m back in my studio I’m back home I’m back in Germany excited to be back because got the proper setup and everything just the proper lighting doing interviews from hotel rooms are never fun although it’s like I like doing them on the fly but the lighting is always terrible audio I think was fine with the last interview but I I hated the lighting the orange lighting just couldn’t get rid of it so now we get the Studio experience again appreciate you joining us for a fantastic discussion that we have lined up with for you today it’s with Peter grich he’s a financial commentator of and he works at of course Peter grage and Company and we’ve had him on about 12 months ago right when Sil Silicon Valley Bank went Belly Up and gold moved about $160 within a very short time frame but that was from 1760 to 1930 now we’re trading at 2325 an ounce and a lot has changed so we have to talk about how has the macro picture changed why is gold moving is the gold move sustainable of course and what about the miners how how happy are with the recent prized moves have we seen any and where should we be looking for returns and uh before I switch over to my guests quick reminder hit that subscribe button it helps us bring guests like Peter on and it helps us you know grow the channel add more visibility and of course get the right guests here on this channel thank you so much for that now without much further Ado Peter it’s great to have you back on the program it’s good to see you I’m glad to be back thank you for having me again absolutely we have lots to talk about Peter let’s Dive Right In uh since since it’s been 12 months since you’ve been on the channel I’ll start with a very general question Peter how strong or how how confident do you feel about the economy these days I don’t think you can be too uh confident in it I do think that there’s been a massaging of employment numbers that has given probably more strength than reality and I also think people are only first now real realizing that inflation once that inflation Genie gets out of the bottle and you know two years ago it got out hard you know it’s hard to get her back in and uh I think it’ll take a lot longer and more tightening which I don’t think the FED is prepared to do to really get it down I always think that 2% and 2% was a foolish number to even talk about as much as transitory was uh so I I I just think that it’s muddling along I think the political environment going forward especially what’s happening on the social scene here and around the world but particularly here is going to play more of a focus uh and when you tie that into an economy that’s not going in the right direction for the average American it’s going to put more political pressure on the current Administration and it looks like they’re willing to about to do anything and they may have not done everything they could possibly do so I think we could have some more fireworks on the political side of things as we get closer to the election we’ll have to dive a little deeper on that Peter on the political side but uh because because I want to know what they can do and what the impact on the economy of course could be but let’s table that for a minute because I want to talk about a stack flary scenario or the stack flation stationary environment that we’re are currently in uh or it seems like we’re in yes economy is still growing but much slower than expected and inflation is rising much higher than expected you you mentioned it as well but we got some pce numbers last week which came in higher than expected would you subscribe to a stationary uh environment right now is that the right term to use already yeah absolutely because it’s perfect when an economy is slowing down uh which it clearly is some will argue it’s in recession some say it’s not uh but I think the important thing to understand about that is is that we don’t yet have an grasp I think the financi service industry or I call them the Don’t Worry Be Happy crowd on Wall Street uh I really believe I’ve been at this 40 years you can toss a lot of them off the top of the Empire State Building and all the way down they’ll all say the same thing hey so far so good so I don’t think there’s been a realistic look at the structural problems that America has and they have five I’m just going to name them to you because it made me take the most bearish stance I’ve ever taken since you and I last spoke first is the the debt spiraling that that is just completely out of control now now there’s going to be trouble paying the interest the second is we have a retirement and an aging crisis simultaneously 65% of Americans are working paycheck to paycheck the third crisis which really was number three when I started with this report at the beginning of January now it’s battling for number one and that’s an immigration Invasion and the reason I call it an invasion because it’s an economic Invasion the toll that’s being going to be taken that’s not even begun to really take place uh Across the Nation and individually in small towns and what have you is only first starting to show now at a time when we could ill for more economic Wes in the United States the fourth is the Brick Nations I think this is the one place where Wall Street has really really blown it they have underwhelmed their view on something that I think when it’s all said and done it’s going to take three to five more years to really get to the level I think can can get to but I think what bricks do the world trade will be the same influence that the industrial revolution had the world trade and then finally the fifth which I started to touch on America is in political paralysis both parties cannot work with each other at all but now each party has a splintering way more far away from the center of each body which is troubling is going to make impossible I think or nearly impossible is the safe way to say it to any real good work to be done to handle any of these problems I just spoke of and others no I appreciate that thanks for thanks for that Peter just really curious we’ll have to get a little more granular um on a on a number of them obviously um let’s start at number one let’s start at the debt spiral Peter um you know 34 34 and a half trillion dollars of debt uh what is it$ 1.1 trillion dollars in service payments every year like Debt Service interest payments which is an insane number like if you write that down with all the zeros mind mind numbing absolutely is there way out of it like Peter like how how do you see that developing and progressing like we are in an election year maybe we can combine one and five here but uh none of the candidates is talking about it so I’m curious to see like if do you have a solution for the debt crisis and like how is that going to sort of escalate so in my 41st year I never honestly on my hand on the Bible ever imagined we would talk as Financial commentators about things in the trillions and now we have 34 of them and I’ll Congressional budget office which is really the last place in Washington that has any resemblance of bipartisanship has now said we’re going to be at$ 54 trillion do in that debt in less than 10 years and you only you don’t have to be a rocket scientist to do a little man to understand how severe the problem is let’s just say that for the next several years interest rates only average 5% I don’t think that’s a large number given the fact that inflation’s a lot higher than what government have massage down but 5% interest rate I think is a good bet to average over the next five or 10 years minimally well you start adding 5% on a 54 trillion debt and you’re almost at $2.7 trillion in interest payments okay two years ago we had our best year ever as a government five I think it was 5.3 trillion dollars in Revenue we’d be having over half our Revenue now there’ll be some Revenue growth hopefully but we’d be talking about interest expense almost at half of All the Monies that’s coming in not taking into account all the other issues that we haven’t even got into so it’s a nonstarter and when people ask is there an out I think the honest answer to tell people is no if we stay in this present State there is no out and that’s what we’re going to be facing and that is part of the reason I’m not skipping but it is a key Reason Why Not only was I a roaring Bull on gold and despite the rise I believe it’s a significant part along with the brick formation on why gold has done what it’s done we’ll get the reasons of the of the gold gold prize move here in recent weeks or what is it now two months now um in a second Peter because I think that’s a really important topic to break to break down CBO the Congressional budget office also within the same report came out with 144 trillion we want to throw some bigger numbers around by 2053 so every American will be indebted by at least a million us American household not American sorry American household will have a debt of at least a million dollars if if you were to divide that government debt by households which is an insane number should take a breath I seriously I I I say this smell the roses and say how the heck are we gonna live with that well and like you asked what are the solutions well the the the almost certain solution the one to beted on is they’re not going to accept the horrible deflationary environment because they could have done that the last hope the fail safe that fail was 20 8 a lot of people were hard there that we should have went into a deep recession if not depression to really restructure things there was still some people working within the political environment that was trying to bring the budget deficit within greens stop the spending that’s all gone there’s nobody you’re not going to hear any of that on any political uh scale uh in this election and yet I like I have it at number one because it is the number one overwhelming negative that we face here in America I don’t like this this is a discussion like where does the spiral end like it is a death spiral qu quite honestly but then again I look at Japan and I keep bringing this up like our regular viewers know that I keep asking about what what happens if the US turns into Japan and you brought in the bricks Nation so we can’t talk a bit about currency like is the US willing to sacrifice the currency to keep going on like they are and maybe reach Japanese levels of 250 % debt to GDP uh as well is that something you see like is that even comparable well this is where I give the Fed Credit I don’t give it for its actions but they’re not dumb they’re very smart they see this we’re not smarter than some of those people that are sitting there and all okay now they can’t say certain things but some of their actions I think is G be very very concerning uh even Trump in his uh political stuff has talked about trying to re in the treasury and the FED if he’s elected again and all and that uh you should the President should have direct response one thing that’s happened isn’t discussed a lot is it’s clear the fed and the treasury have merged they were supposed to be two separate parties working in the best interest for each of them and they really have become one now and I think at the end of the day uh the flight out of the dollar the cheapness of the dollar remember if we’re right if if I’m right about the Brick Nations becoming more and more of a dominating Force at least on a regional basis and some sort of alternative trading currency or some way that they decide to go about it weakens the use more of dollars those dollars are still in existence they just don’t disappear they come back here and we’ll have that many more dollars which will help even cheapen the dollar more so there’s not i’ like to have a good scenario and guy I don’t sell anything that benefits from all for this type of stuff when I have this kind of talk in our Planning Group uh for retirement and state planning most people want to leave the room we don’t even get to the part about State planning but it is something I think is a reality and I think we need to recognize that and prepare for it and uh hopefully you know some of us that prepare for it we’re all going to be impacted there’s going to be no way to escape this totally unless we you know go to another area of the world or some Island somewhere and all but I still say 90 to 95% of Americans have no real concept of where we’re heading no it’s just like I tend to agree like and people don’t feel it yet like and and I don’t know this is going to probably send send off a lot of comments here and I do want to hear from people that are feeling a potential recession or stationary environment uh I want to hear about that in the comments because I can use that for questions of our guests so please please put that in the comments below I we do want to hear from you how you’re feeling maybe a recession in your sector so please would be great um bricks we need to talk about the bricks Peter and uh like I mentioned currency already but what type of developments do you see in the bricks and you mentioned a time frame of three to four years how that is developing and how they’re establishing themselves I’m curious how you see that being part of the competition and part of the serious issues that would lead to uh you know larger issues uh in in the US one of the smarter mens that I’ve met over these last few years Andy shackman has used a description to say the brick is going to be drip drip drip drip boom and that’s exactly how they’re approaching it they’re not going out and beating their chest there quietly and with reservation going about their business and I always tell Americans this when I speak to them you have to understand even if it doesn’t only reach half of what I think it can be these are countries that at one time would have been trading with the United States and would have been actively using our systems and our currency and won’t so take that off the table that’s not going to be something that used to be counted upon and I I I try to explain to people and all you you don’t understand if you don’t travel and all you’re you can share America isn’t the loved Uncle Sam that maybe it wasn’t a generation or two generations ago so when you combine all of that this is a big negative that really no one yet that I see in mainstream Wall Street in the talking heads or whatever spend any time on it when it’s brought up they laugh about it but meanwhile more and more countries are looking to be involved more and more obviously listen I don’t want to jump on you but it’s key to answer your question someone or some group bought a lot of physical gold for something more than a trade or speculation I gotta believe it’s a combination of wanting to get out of things that are dollar denominated and also that there’s going to be eventually a need for gold to back something because new Fiat currencies no matter who’s in charge at that point in time are not going to be accepted after all this plays out and that’s why despite money flowing out of ETFs and all that gold is rising because some group or people or group of people have been willing to pay and pay hard to get large sums of physical gold and that’s the underlining story to the gold market that you’re not going to hear in the mainstream Wall Street because you and I both know mainstream Wall Street will always treat gold like Kryptonite they don’t want to talk about it because it goes against what they make their living off of financial assets stocks and bonds well it would really fit well the fear fear mongering though that uh you know the click baity titles that they usually get people with so that that would work well when when you talk about gold at $2,300 like what what could that mean right I think that would lead to some interesting headlin or should lead to some interesting headlines uh for the fearmongering GL gloom and doom guys like is that how they usually make money with gloom and doom at least on the news media uh not not in the financial service business uh cup half full is always better the the the cup half empty was always left to what we used to call the hard money people at one time when you know the big conferences and all of that and that’s been leaned off including you know the horrific you know decline that we saw in the medals and particularly mining shares and of the cryptocurrency world uh basically people under 35 say uh they don’t even want to even think about something like gold or something like that they’ve been trained or or LED in a cult-like atmosphere that uh there’s only one thing that counts and you know that’s Bitcoin and uh I call it bitcon and I know that in itself will cause people to send stuff but it is partly a reasoning to understand and what’s Happening Here and to understand what force drove gold up when there’s really no other place you can point to and say well those must be the people buying it or that group is buying it for this reason and so I I I think it’s a tremendous story that’s yet to be told fully and I’m jumping but I think after correction and consolidation the price can only go higher let’s talk about the moving gold like I’ve had guests on like will middle coup last week and said well the sign the writing has been on the wall for at least 10 years so my question of course is why now like uh we we’ve been right like right you know for 10 years and uh even even a blind chicken picks a corn one of these days I think is a saying isn’t it but why has it happened now like we we’ve we Peter 12 months ago we talked about those potential triggers for for a gold run and it hasn’t really happened it hasn’t really broken out it has broken out now so the question is timing I think we all know the reasons for it well it’s a it I’ve been told I’ve been describe this by emails it’s a blind squirrel even finds a nut everyone there you go that’s the saying might have been a German saying I I’ve been called the blind squirrel more than once over 40 years so uh the bottom line I think I if you think about it I got involved with go when I was back at 12 1250 I got involved not because I thought the world was coming come to an end and I’m gonna need a gold bar to get a loaf of bread I got involved because of cap appreciation in 2021 I took a very difficult stance and quite Frank L if I was still in the actual money management business where I would do myself I couldn’t even done it I wouldn’t have been allowed to do it but I literally for myself and for friends and clients of our Planning Group if they so choose to listen I said that I felt go was going to outperform both stocks and bonds for at least three years going forward and it did you know that’s the untold story and again like I said I’m not a bullan dealer I’m not representing a bunch of ways a goal makes money but understand this not only did did it outperform over the last three years and five years but since January 1st 2000 gold has outperform stocks and bonds for almost 25 years you would think something that has done that much better or at least as well versus what most people spend time talking about would even get a little bit of coverage but it hasn’t and that goes back to what I said earlier that they don’t want to talk about it because really istically if goal’s going to go up a lot you know I I’ll tell you this guy I always say this now for I don’t know 20 years sitting in our Planning Group I tell people that listen I’m gonna want you to buy gold and hope it doesn’t go up and they always react the same way why would you want me to buy something that you don’t think is g to go up because what little you’re going to own if it goes up a lot what you’re going to still own a lot is probably gone down and uh that really has proven the case it doesn’t get the Applause that it it should get given what it’s done under what it h what it’s had to do and and part of that reason and let’s go to where proving that I am only human and put my pant legs one leg at a time is because many of us who believed in Gold like me also bought mining shares and went even down further to food change to Junior resource docks and for two years as I scratched my head and watched a lot of money that I had made be lost on paper or actual losses how could these shares be going down when the prices of metals are going up and uh so gold has really done surprised even the the most Oden bulls and I’m not talking about the people that always are I mean there’s groups that are always saying silver is going to 300 Golds always going to 5,000 I understand that that’s their you know they sell bullion and that kind of stuff but realistically you even you can see it in your talk is wow it really took off and why and and that’s I think you need to focus on the why this isn’t something that went this way because it’s just something fluky happened and it won’t last something is changing dramatically or people are anticipating it and those people that are anticipated got a lot of buying power because they bought a lot of gold fully agree there Peter and the question is though that sort of as a follow-up to what you just mentioned we we’ve seen a lot of geopolitical turmoil uh in the world Russia Ukraine Iran Israel um how geopolitical is the gold price right now we’re trading at 2325 like how much geopolitical air is in the let’s call it in the gold balloon right so if we let some of that geopolitical air out maybe Iran and Israel make up you know that’d be phenomenal um where would gold stand where would gold be trading tomorrow then yeah well I tell you I see us solving our debt problem here before Iran and R Israel makeup I think that is beyond hatred that is just a very sad human beings uh and that there’s there’s certain groups that believe that their God or the way they see God actually wants other people killed uh that’s hard for me to accept But to answer your question the geopolitical uh realm of it I don’t think the the the natural problems that we’ve been used to to own gold saying oh there’s going to be war in the Middle East or Taiwan I think there’s a fundamental expectation of a worldwide change and monetary and who will be the leaders in that and that’s why I view the bricks as so formidable and should not be discarded as wall Street’s doing because I’ll just go back to this this is too much physical gold you see if if if we saw go going up and we saw a lot of the exchange Trader funds increasing in dollars and we saw a lot of people comeing and saying they donate they moved assets to buy more physical gold but the opposite has been happening and the other interesting thing and you probably had a lot of these conversations over the years because I know you’re you know you’re you’re one of the smart guys that do this stuff remember all the manipulation or what anybody wanted to call it that we would see that somehow the paper Market didn’t seem to represent what was happening in the physical Market they’ve been overtaken now part of that reason is much of the physical trading has moved from London and New York to Asia and therefore they they don’t have the power that their paper Market used to uh demonstrate I don’t think they’ll ever go I I’ve called it the crix not the comx and I’m not alone in that but I’ve always said you got to treat them like herpes herpes goes away for a long time but it never dies it eventually tries to make a comeback and they will somewhere along here try to take gold lower I think they’re even trying now and they’re struggling with that that’s why I think it’s going to be more of a consolid than a hard correction but nevertheless there’s some reason that people are perceiving far bigger than you and I will ever be or will ever hang around with or be part of that group but the bottom line is it was something Dynamic and I I I don’t think it’s gotten the proper recognition yet uh even from some people have been around because we’ve been so used to being beaten up by being Believers in it and therefore we cannot believe when the VOR finally shows up n there’s got to be something wrong here what’s the trick somebody’s gonna pull the rug on me you know and that’s still the attitude even some some people have had great gains when I turned just real quick I know I’m going all the directions but I think it’s important you know I turned around to our clients that bought gold at 12 or 1300 for capital appreciation now and said listen take five or 25% off the table and a lot of them wanted to sell it all because they Pete this is just too good Go’s never going to stay up here and all and then I go into what we just discussed and all and it was hard to keep them in so there’s not a bullish tone yet this isn’t where everybody’s calling up their brother and sister and trying to get them involved yeah Costco and a few places are selling gold and people make out of that but we haven’t seen a real movement of general public and institutional interest yet the gold and until that occurs I don’t see any reason to think other than Corrections and consolidation that we’ve seen the best price yet maybe to summarize is gold a buy hold or sell right now well you you always have to separate it I think for those that are very very concerned about safety and uh purchasing and you know living just yeah I think you always still have to own it I don’t think you should ever be without it you you own car insurance you you have fire Insurance on you you have home insurance you don’t want it to burn but you want something to be there it’s certainly not as cheap as it was when we especially when it was 1650 and I was putting out these back up the trucks because I’ve always had a target of 2536 because I had believed in this cup and handle formation I’m sure you talked about it over the years that was forming and when it breaks out this was the Target and all but I do think that to get to the much higher numbers there are people that talk about 10,000 20,000 it’s okay to think about that but if we got there too fast if you somehow saw the future I don’t know if our regular lives that we be living every day would be worth having gold at 10,000 because it would cause something far worse than what we’re used to or seeing to get to that kind of number say in the next you know one to three years it would be something really really Troublesome uh are there people hoping for that because they’re willing to live with that stance just so they can make a score yeah I guess there are but if I said to you if I had some control over it I think we should be happy somewhere between 25 53,000 over the next 12 18 months and something that we didn’t talk yet and something that I was really and I was able to not be fony and say I was wrong about and that was I put a lot of emphasis into mining shares in my own portfolio and Junior resource stocks until three four weeks ago that was looking like a really poor decision but I think at 2500 to 3,000 gold I believe Copper’s going to five I think silver will get up to 30 and trade maybe to 35 or 40 there’s a lot of money to be made in an industry now guy and I know this is where you live and breed that 20 or 30 years ago you and I could have been at one of the conferences we’ve been at spin a globe Point our finger there and say yeah we can go mining there not anymore the world has shrunk for the mining expiration and before big corporations put a billion dollars or more into some place outside of North America they’re GNA think twice some of the things that we’ve seen happen and it’s G to take like for copper I think well above five because the grades have Shrunk the sizes of deposits have shrunk and the risk have risen for these companies uh so I’m if there’s anything to be said about Peter Gran’s that can be printed and stated it’s that he tends to be too early but I go back to an old Mentor of mine who said to me years ago it’s better to be two years too early than a day too late and I think it’s still early for the mining and Junior resource companies Peter my immature mind went to a very bad joke so I’m not going to go there um because because you I’ve gotten them all emails already so you got you gave me a perfect set up there Peter but I’m not going to go there like we’re not gonna put that on your Tombstone either so uh um no no I appreciate that but we have to talk about the mining stocks and of course that’s where I’m coming from and uh to quite honest yes you mentioned like three to four weeks ago there was a bit of a change maybe in momentum um we have seen a bit more a few more financings but you might you might know I also run Orin Inc we track the financings in this space and the junior mining space we have seen a bit of an uptick but now the last 10 days we’ve TI down again the bigger financings have disappeared it seems like there’s still no new money it’s still all the same money that’s being recycled in our sector so the question is Peter and you you mentioned oh maybe at $2,500 things will be different but just to challenge you a little bit Peter like we said the same thing about 2000 and nothing has happened really the juniors are still on the doll drums August 2020 was the only time where we saw a bit of a hurah moment for like a few months but other than that it’s been absolutely abysmal and looking at my portfolio that’s exactly what it has been so I’m curious like as as a challenge like why should 2500 be different than 2,000 or maybe 2100 that everybody said oh that’s the ceiling because that’s the new alltime high I don’t think it’s going to be as much as price guy as it is let’s look at some of the negative structures let’s look at probably if you had to come up with a hindsight why has it been this way so far well a few things one other opportunities came out the folks that used to be focused in this area left for a lot of reasons one because they had to because the industry just wasn’t making money for them competition came along cryptocurrencies is the number one competition uh we also have to understand that when no new money was coming in like you’ll know this the big institutions and they might have kept an old guy like me on the desk and you know okay you just watch over what we still have but you’re not really going to see new money to go play with all but it’s all over here in Ai and technology and this kind of stuff then we saw just basically uh kind of hide and Shell by the Mages themselves you know saying that you know before we go out there and spend a lot of new money and get to the issues we used to book too much debt and all uh we’re happy right now just you know making a little pick off here and a little pick off there but I think what you still have to come to and this is going to be the deciding factor on one hand the world not just the United States but the world in general is moving towards some sort of increased electrification now that story has died down compar to where it was a year or two ago where it was just a slam dunk all these charts showing going off the board use of copper and all this kind of stuff it’s come back maybe not to Earth but it’s back in the atmosphere at least and I think the reality is if you still believe them the world is going to grow you start to look at Ai and the enormous electricity that it’s going to need there is going to be some sort of increased electrification that used to be maybe not as much as it once was and the fact that where you can go look for it the sizes the grades that have dropped the cost the political risk the social risk and all eventually there has to be that come into that because it just can’t stop and nothing’s going to change that Junior’s going and spend the high-risk money one out of 10 maybe sometimes two out of 10 hit and find something that can be eventually developed into a mind and then the major comes in and does its thing uh is it better than it was before absolutely uh it was getting to the point where literally if we didn’t see what we saw in these last four or five weeks some of us might have had to think that somehow we are in the buggy whip business and cars are the new thing but I think eventually we have to and the place that people going to look for is the Junior market and and to be fair to some some managed to do real well some major mining shares Ango Eagles some are doing quite well even numont got down to a know when it was down to 30 I said this is ridiculous I mean you just have to own it down here but is it going to be that roaring thing that we were once used to I certainly was I learned one thing and I think you agree because you you’re old enough to remember that for whatever reason in the junior resource Market the bad times seem to last a lot longer and the short times even when they they’re good we don’t get a chance to plan our feet and sit back and go ah because before we know it you know there’s there’s a saying if I may to say this there’s really only three stages in life going into the forest in the forest and coming out of the forest the only time life seems half enjoyable is when you’re coming out well I think that’s the same thing in junior resource stocks but you very rarely come out of the forest you’re always going in or somewhere in there but I do think uh just steadily here as long as we don’t somehow I’m wrong we crash back down to 1800 or something like that then you’re right I can just see people going whoa it was it was that again it was the old pull the rug from us but I think as time goes on here and as we go through this consolidation and also this gu I think this is important we’re going to start to see rotation out of some of the more important things yes the stock market went back up but if you look at over two three years net net the average stock is actually lower yes some of the big ones have move so we’re seeing some rotation and we’re going to see rotation I Noti this is going to cause trouble Bitcoin isn’t the The Cure oil for everything and as I suspect after I’ve called after they having was when the party was going to come to an end and if I’m correct and it goes lower we’re going to see money flow back into these things and and that might be over optimistic that may be somebody that’s you know speaking his book clearly but uh I I I am quite confident still no I appreciate you sharing your thoughts there Peter and too bad you said the the b word now the the Bots are going to be all over the comments but uh um it it is what it is Peter we can’t change that but I have two more topics I quickly want to tackle with you and uh please take all the time you want by the way by quickly I mean it’s just two last topics I want to cover with you and since we’re on the precious metal go we have to talk about silver real quick yes it has outperformed gold a little bit but it hasn’t broken out by any means um why why do you think that is like what is holding silver back um because theoretically it should be up 75% not 30 to 35% in comparison to what gold has been doing in terms of go price move so I’m curious what your thoughts are on that Peter well other than Dave Morgan because I’ll always read his stuff even though he’s always stay primary silver I always thought he was he just loved it he wasn’t somebody was just saying it because it’s sells but I used to get beaten up by the silver bugs because I would always make a comment at the Gold conferences that silver was the uh uh like kissing your sister uh versus owning gold oh man when I was done talking K they just come up and just tell me all the reasons for but what’s changed for silver compared to back then is the fundamental argument has gotten much better a much more industrial use than used to be and B the dramatic drop in supplies you know 20 30 years ago when I used to manage money and talk to guys they would say well silver is just a byproduct in what we’re looking for we toss it aside we don’t even we’re interested in Copper or gold whatever but the usage of silver and the availability of silver and let’s also understand this if I’m right about this I think people going to think twice to go to certain places for it Mexico used to be a place if you said silver mining expiration when I was managing money that was it you said silver and Mexico those were two words that come together I don’t know if a lot of people going to want to run down there as much as they might have been also so I think silver has a better argument or let’s put it this way the best argument it’s had since I’ve been involved in it in 40 years so I feel that we should treat all three compatible copper gold and silver I don’t think one is dramatically better than another now based on their current prices and the outlook for fundamentals for them you you brought up copper and I do have to ask if if you do expect a recession or even a depression why would you invest any money into copper right now well I don’t know if there’s going to be a depression or a depression I think things I think we can see as you said I think the big word that be more discussed and I was glad that you brought it up is stagflation I think that’s what people going to deal with economy may not be RI roaring but governments are going to have no choice but to keep printing money that’s going to be their only escape and that is going to prevent any deep deep recession but understand this those were times the Dr copper argument oh soon as economies get weak you know copper goes down because there was ample supplies of it back then and there was readily places that you could turn on and and basically in a few years bring supplyer way back up that is not the case anymore that is not the case at all and quite frankly that’s why I think the BHP are going after Ango we’re going to see more and more because getting ample supply of it is very Troublesome and I keep saying that we’re going to need a price above five to really start to and sustain it at that before they can go out and want to spend a couple of billion dollars on something new and uh you know one guy if you followed over the years say what you want about him and you know he’s he I think he can sell ice to the eskimos but Robert freeland’s been right about a lot of things over a lot of years and he’s been an odd and bulling and has given a great case for it and I believe his argument is an argument worth listening to and that’s another reason why I think you know I’m staying strong on copper I appreciate that Peter thanks so much for sharing that and your thoughts on copper like it’s an interesting one because if you look at business cycles and copper shouldn’t be rallying but there are other like Dynamics at place here as you mentioned on from the supply and demand side as well that we should be taking into consideration of course um Peter very last topic um how attractive are 4.6% tenyear bonds to you well in our planning business uh my advice to people right now is given what I think between now and this election things are really going to get interesting and I’m using a very nice word interesting to substitute what I really like to say and I really think earning close to 5% in t bills and CDs and just for versus having an overaggressive stock or even corporate bond portfolio I don’t think people realize how much refunding has to come now uh for corporations at much higher levels which are going to impact earnings and all which a lot of guys on Wall Street aren’t and Gs are not talking about but I’ll tell you one thing to watch which has been real interesting I noted it today in my own Twitter the bid the cover ratio on the 20 to3 year treasury fundings have been some of the weakest in decades which means they’re having difficulty getting strong bids so right now the credit Market is telling us that seeing substantially lower interest rates is not likely because people would be jumping all over those end the longer end than the shorter end and so therefore I think it’s a bonds are T bills and and and CDs not corporate bonds uh Bonds in general are a lesser of two evils than General equities no awesome Peter thank you so much for that um we’re getting the refunding announcement actually later today so we’re recording this on Monday what is it now the April 29th so some sometime later today we’re getting the refunding announcement from the US Treasury which could be quite interesting and of course it’s fed week so we we’ll hear from the fomc or the what is it Federal open oh don’t what was FMC stand for Market committee meeting something I’m embarrassing myself here Peter um but we we’ll hear from the fed and Jerome Powell later this week as well which could have an interesting impact on the bond market trading at 4.6% on the 10 year right now so we we’ll have to see how that is being impacted but I appreciate you sharing your thoughts I think it is an interesting uh mix to the portfolio any closing remarks Peter when are the mining stocks taken off maybe let let’s use that one because that’s how I make my bread and butter and uh let’s give people some hope maybe well first generally I I I I have I stab for myself uh after after losing large sums of money not once but twice about 20 years ago I adopted this and I live it now less is more I think if people have that attitude uh Capital preservation now overrides capital appreciation opportunities doesn’t mean you stop trying to make money but you need to focus as much if not more about preserving it for a lot of reasons that you and I discussed today I I’ll just say this there are some really great companies that are still doing some great great things uh a good friend points this out to me and he’s right you can change management but you can’t change geology so I think critically where you are and what they got is going to be more critical than ever for what money is still looking at the Juniors and I think that only comes from proven experience you don’t get a discount by some unfortunately some person that just graduated and became a geologist and is running a company versus some somebody that’s running a company that’s twice before been real real successful I think of a man in Vancouver and I I’m giving him a plug because he’s one of the best people I ever knew in the business of Randy Turner who’s been at it almost 50 years has had much success put him in a new company today versus some kid that’s never run it before you gotta Bank on experience I think that’s the critical thing that gets overlooked sometimes uh when we play these things where remember you know this and failures the norm as great as we think certain companies now look only two to maybe three out of 10 will find it develop it either sell it to somebody or develop it themselves and you got to keep that in mind buying and holding for years is just not a good idea in the junior resource Market no it it is not Peter and I really appreciate you sharing that where can we follow your work Peter how can we get in touch with you there is a Blog Peter grit.com there is a YouTube channel where obviously a interview like this I’ll put up and I do interview some people myself but I’m really falling in love and I can’t call it X I love Twitter uh it’s uh I can’t imagine you might gone back to the days when we used to have to print the newsletter types set it Fold It print it put in the mail three days four days later people would learn what we’re thinking now in a matter of seconds the world can know what we’re thinking so I spend a lot of time on Twitter appreciate that Peter thank you so much for sharing that and of course I follow you on Twitter as well and uh thanks so much for your time it was great catching up again but it was long overdue it’s been 12 months let’s let’s make sure it’s not it’s not 12 months again before we catch up and uh I’d be glad to thank you I enjoyed it very much God bless you fantastic really appreciate it Peter and uh let me do my outro everybody else thank you so much for tuning in I hope you enjoyed this conversation here on sore financially with Peter grandage what are your thoughts how are you positioned um what do you think about the miners is something I really want to hear about and uh have you signed up for do Mesa are we going to see each other in Frankfurt next week or this weekend sorry this weekend Friday Saturday it is happening in person May 3rd and 4th we have some fantastic Keynotes Jeff Clark Brian London Lobo Tigre uh Eric strand Joanna Puna and a good friend here from Germany from the O Marcus buler are joining us are you as well make sure to sign up do goldm or German gold show.com join us in Frankfurt be great to see you in person and we’ll have lots more lined up for you this week it is fed week so lots happening we’ll be back with lots more here on sore financially thank you so much for your time be back

Peter Grandich explains 5 major structural issues he has identified that make him believe that Gold still has a long way to go and why $3,000 is possible.

#gold #dollar #goldprice

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Thank you to our #sponsor MONEY METALS. Make sure to pay them a visit: https://bit.ly/BUYGoldSilver
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Guest: Peter Grandich
Company: Peter Grandich & Company
𝕏 @Peter-Grandich
📺 @Peter-Grandich
🌎 https://petergrandich.com/

Recording date: April 29th, 2024

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Chapters & Timestamps (AI Generated):
00:00 – Intro
00:28 – Welcome and Background Introduction
01:05 – Economic Overview and Gold Market Analysis
02:11 – Economic Confidence and Inflation Concerns
03:34 – Political Impacts on the Economy and Upcoming Elections
05:08 – Five Major Economic Crises Discussed
06:53 – Deep Dive into the Debt Crisis
09:22 – Future Predictions for Gold Prices and Investment Strategies
11:23 – The Merge of the Federal Reserve and Treasury
13:52 – Global Impact of BRIC Nations and Trade Dynamics
16:04 – The Role of Gold in Current Financial Markets
18:10 – Why Has Gold Price Increased Recently?
20:33 – The Current State and Future of Mining Stocks
23:10 – The Outlook for Silver and Other Precious Metals
25:00 – Discussing Copper’s Role in Future Markets
27:31 – The Viability of Mining and Junior Resource Stocks
30:02 – Closing Thoughts on Investment Strategies
32:43 – Final Remarks on Economic Predictions and Metals Market
35:04 – Viewer Questions and Interaction Encouraged
37:23 – Additional Insights on Financial Markets and Investments
39:16 – Wrapping Up: Key Takeaways and Final Thoughts
41:53 – Outro and Encouragement to Subscribe and Comment

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