Rebel News Podcast - Sponsor ｜ Central banks know what’s coming — do you？｜ The Real Money Show Brought to you by Guildhall Wealth

00:00:00.000 Welcome to The Real Money Show. My name is Jeremy Wiseman. I'm joined by Jerry Karaya,

00:00:13.900 and we're going to be discussing the gold and silver market, maybe not completely weekly,

00:00:18.920 but we hope to be here often and talk about some politics as well along the way.

00:00:24.160 But before we get started, it's been a great year in the market, Jerry. So far, silver is up 80%

00:00:32.880 in U.S. dollars. Gold is up 60% in U.S. dollars. And let's start right there, because we don't see

00:00:41.500 it necessarily just because inflation is running and just because dollars are devaluing, because

00:00:47.240 that's sort of the typical narrative of precious metals. We like to go a little bit deeper than

00:00:52.220 that. Let's discuss that off the bat so our listeners understand and viewers understand

00:00:58.180 sort of where we come from with regard to Guildhall Wealth. Well, this is the whole point of The Real

00:01:03.020 Money Show, Jeremy, is to educate and empower Canadians, investors around the world to understand

00:01:09.200 what's going on, not just overseas and not just geopolitically with the four fundamentals that

00:01:15.940 we often talk about, which would be currency debasement through inflating the currencies,

00:01:20.720 supply and demand and geopolitical concerns. Usually that has been the case. Things have

00:01:26.680 shifted quite rapidly over the last few years to now include other fundamentals. But the major

00:01:34.420 fundamentals are going to remain because the fact is all major central banks are not just

00:01:40.860 acquiring precious metals, gold especially, ad nauseum, just nonstop. But they also are using

00:01:49.000 the same equation that they've always used, which is just money printing. And that's what's

00:01:54.180 happening. There's going to be a lot of rounds of money printing coming up. The dollar is devaluing.

00:01:58.880 Every single major currency, Jeremy, is losing versus ounces. So our message has always been

00:02:05.460 cleared. It's time to de-dollarize. Nations are de-dollarizing. The BRICS nations have been showing 1.00

00:02:11.880 us that this is the way to do it. They're rebalancing the playing field. They're including gold in the

00:02:16.980 conversation. And that is the major driver. The new space race, as you mentioned on the Real

00:02:23.560 Money Show last week, is a race towards physical assets, physical resources. Critical minerals are

00:02:31.140 now on the table. And this is a major shift as to why the demand in precious metals are going up and

00:02:36.540 why the prices as well are going up. Price is one thing, though, Jeremy. It's not the value of what

00:02:42.740 it offers. Price is also shifting overseas. A lot to talk about. And this is why we're so super

00:02:47.780 excited to be on with Rebel News. Yeah. So you're talking about where we're going to derive the price

00:02:53.880 from. It looks as though that is moving eastward. But when we think about fundamentals, we're looking

00:02:59.020 at money printing, which is going to devalue your dollar. That's going to lead to inflation.

00:03:04.500 There's going to be supply-demand aspects. That's the second fundamental. And then geopolitical risks.

00:03:10.880 The supply-demand in silver has never looked better. We're sitting with a five- or six-year

00:03:16.280 structural deficit. And then what you mentioned is this kind of new version of a space race as a new

00:03:23.640 fundamental, which is the financializing of everything is changing. It's more to, as what Jim

00:03:29.740 Rogers used to talk about in his book, Hot Commodities, of eventually you've got to get back

00:03:34.500 to making stuff. Exactly.

00:03:36.040 And right now there certainly seems to be a grab for making stuff. And you need sources. So you see

00:03:42.300 around the world there's a chase on for rare earths. But it's not just rare earths. It's also

00:03:49.260 things like silver, for instance, which just made it onto the critical minerals list in the United

00:03:56.180 States, which they discussed that about a month ago. And it wasn't made formally until last week.

00:04:04.040 But that's it. Silver is now considered a critical mineral in deficit. So when you look at the prices

00:04:10.760 having moved so much this year, is it just the demand side that's driving silver in particular at

00:04:17.280 this point? And how much further could we see it rise from here?

00:04:20.820 You know, it's both gold and silver at the forefront of everyone's portfolios being shifted.

00:04:27.000 We're seeing major banks now throwing out the old 60-40 split of the portfolios to include now 20%

00:04:34.920 into gold. Countries are now holding silver now for bank reserves. India has set up major exchanges.

00:04:45.520 We had the Shanghai Gold Exchange, the Indian Bullion Exchange. These are, in our opinion,

00:04:51.080 going to rival and are rivaling the old guard of where we used to get the gold and silver prices.

00:04:58.580 London and New York, two places that they don't offer any physical. They don't mine it. They just

00:05:05.720 print it. And actually, they are kings of the contracts, which is just the paper. And it's so easy to do.

00:05:11.060 You could flood the market with fictitious ounces. You know, one contract of silver is 5,000 ounces

00:05:16.720 of silver that does not exist. You can create the supply and you could sell the contract,

00:05:23.820 manipulate that market. But now that silver is being deemed and has been designated

00:05:27.420 as a critical mineral, I think it's going to put pressure on those banks. I don't think you'll be

00:05:32.440 allowed to do that type of shenanigans anymore in the silver space using the paper manipulative,

00:05:36.660 you know, the control that they once had. Yeah, it's fleeing to the east. I'm glad you brought

00:05:42.640 that up because one of the things that we really monitor at Guildhall is the revaluing of gold and

00:05:49.980 silver. It's not an event. It's a process. And part of the reason we believe that the prices are rising

00:05:57.360 so much is not so much because of just inflation, dollar devaluation, or the race for new assets

00:06:04.880 and commodities to go into things, structuring, you know, AI and all new technologies going forth.

00:06:12.400 And we'll talk a little bit about nuclear in a moment. But what there also is to this is a much

00:06:17.220 bigger picture, which is in 71, when they lifted the gold standard, at that point, we believe there was

00:06:24.660 a psyop against the people to not own gold, and not own silver. That's where you come up with the

00:06:31.520 gold's a relic, it doesn't pay a dividend, just the tradition, the tradition, you're what are you a

00:06:38.340 conspiracy nut? But if you have to own it, here's an investment version of it, where you don't actually

00:06:44.560 own it, because you don't really want to have to take care of it, what are you going to do, put it in

00:06:48.200 your backyard? So they come up with these reasons, right? But the point is, is that they don't want you to

00:06:53.820 own it? Because if you own it, then you are immune to inflation. And they understand that. That's why

00:07:00.800 they misquote inflation at 2% when it's really at 6%. And the fact that we should even accept 2%

00:07:07.560 is ridiculous. That's 20% every 10 years, 40% loss of purchasing power every 20 years. That is

00:07:17.620 unacceptable. We feel we shouldn't be accepting that.

00:07:19.920 So the price has now also volatility and keeping the price low helps manage the price.

00:07:28.340 Very true.

00:07:28.840 So that'll also prevent people, we're going deep here, we're going, we're already putting on our

00:07:32.820 tinfoil hats. We're here, we're here.

00:07:33.860 But this is why people, this is why these, these entities didn't want you in those markets. They

00:07:39.620 wanted you in the financial markets where they control you. And look at where the prices for the

00:07:44.800 precious metals have been controlled for the better part of 50 years, which is London and

00:07:50.120 New York. And since it's not just Asia that's moving it and the BRICS nations that are moving

00:07:56.460 it, but now that you're calling silver a critical metal, it means you can't have these shenanigans

00:08:01.940 in the markets. And people realize, wait a second, there's a deficit. It's critical. We need to take

00:08:07.300 delivery of it. It's rendering the paper game anachronistic. It's no longer a game you can

00:08:14.540 play. And so what we're seeing and what we believe at Guildhall is we're seeing a revaluing

00:08:20.360 of the metal after it's been managed for over 50 years.

00:08:23.940 Absolutely.

00:08:24.160 So this is not a one-off. Silver moving up 70% in a single year is not a one-off. This

00:08:30.640 is a beginning. And I think that right now, as you look, tell us, talk to us a little bit

00:08:36.340 about where we are seeing silver at all-time highs. Today, I think we hit 54. We're back

00:08:43.840 into the 53 range on silver. We'll talk about gold as well. But on silver, we are at all-time

00:08:50.300 highs, 50-year highs in the metal. What do you think the market's going through psychologically

00:08:56.500 at this point?

00:08:58.100 Well, there's a few things at play. Psychologically, it's obviously triggering the Western investors.

00:09:03.740 We are seeing the demand, regardless of price, coming in from the East. The exchanges actually

00:09:09.980 have prices higher in the East. So we have a vacuuming effect, which is the arbitrage. If

00:09:16.760 you can buy it cheap in North America, export it to Asia at a higher price, well, you're

00:09:22.020 in business, right?

00:09:22.820 And they're not going to let it go, though, either.

00:09:24.440 And this is what we're seeing. Just before the U.S. designated silver to become a critical

00:09:31.480 mineral, it was China the week before, that revised the way that they export silver. They

00:09:36.780 actually made it very difficult for the export. So we're seeing a hoarding now, a stockpiling.

00:09:42.780 So it's pushing countries to do a 180. Just a year ago, we saw commercials about the green

00:09:51.000 energy and the green project. We've got to stop with the pollution, Canada, and we'll

00:09:56.780 shut down mining. But a complete 180, now that there is a race for critical minerals, we're

00:10:03.520 now seeing commercials here in Canada on mainstream that are saying, well, Canada has to drill and

00:10:07.600 protect our critical minerals.

00:10:08.640 I hope it's not a complete 180.

00:10:11.020 We intend to, we intend to, we're going to, we're going to. What I've noticed is actually

00:10:16.640 a lot of Canadians in the last year have also realized or taken for granted how rich they

00:10:24.720 really should be.

00:10:25.620 Exactly.

00:10:26.100 Right? I remember seeing this-

00:10:27.640 So true.

00:10:28.380 This graphic of barrels of oil going up. And then every so often it would gap up to another

00:10:37.020 country who was producing. And I watched this animation and I'm thinking, oh, I must have

00:10:44.320 missed Canada. And I just kept watching. I said, I must have really missed it. And then

00:10:48.540 right at the end, we were second or third. And I thought, oh, whoa, wait a second. Saudi Arabia

00:10:55.340 doesn't pay income taxes. We have the second, third largest amount of oil and we are taxed

00:11:02.060 out the wazoo. And what's going on?

00:11:04.140 Right.

00:11:04.340 But I noticed every day when I talk to people, I'm finding more and more people are realizing

00:11:10.500 how rich we should be as Canadians. But until that time happens, we have to also protect

00:11:15.800 ourselves.

00:11:16.340 Absolutely.

00:11:16.680 And silver, in my mind, is an incredible rebate. Talk to us about gold and silver in a registered

00:11:23.480 account. Not just how we do it at Guildhall, but the benefits of having an inflation buster

00:11:30.540 like gold and silver as part of your registered account.

00:11:33.680 Well, I think it's a must. If you currently don't own any physical precious metals, you're

00:11:37.740 simply just not diversified. Diversification requires inversely related assets. So if one goes

00:11:44.520 down, the other will buffer the portfolio and keep that up. Well, the bonds are a sham.

00:11:49.620 You know, we're seeing the dropping of bonds, inclusion of physical gold. And this is real

00:11:55.240 ownership. When you own physical precious metals within an RSP, and by the way, Guildhall, we

00:12:02.080 were the pioneers to bring this to the table, bring this into Canada back in 2015. You know,

00:12:07.840 we started in 2002 and forever Canadians wanted to know, how can I use my RSP? How can I protect

00:12:14.120 my RSP? How can I position, especially now for what's happening, to make my portfolio relevant

00:12:19.360 with silver that is being used in AI, which is being used in military applications? How

00:12:25.420 can I make my portfolio relevant? Well, now you can roll out. So we assist with the entire

00:12:30.580 process very happily. You get in contact with Guildhall. Give us a call, 1-877-8-SILVER.

00:12:36.620 And we'll help you to set up the account. We've partnered with Questrade to do this. And what

00:12:41.760 we do is we just simply roll over. We just transfer from an existing RSP that you have

00:12:45.260 elsewhere and you move it over to us. The process takes about 15 minutes. But what we're doing

00:12:51.200 is you're now moving into a position to now acquire some physical precious metals. But

00:12:56.480 our philosophy is to hold, if you cannot hold it, you don't own it. And that is our motto.

00:13:01.620 If you cannot hold it, you don't own it. It will be stored in an independent vault facility

00:13:05.620 that you can go to the vault. If you don't believe us that they're there, go audit your product,

00:13:10.660 see what they look like, verify those serial numbers, and you can hold it. Because if you

00:13:15.780 can hold it, you own it. And in this case, this is what we bring to the table. You can

00:13:19.780 actually own physical 1-ounce bars of gold, Royal Canadian Mint, your famous Falcambi Swiss

00:13:24.940 bars, Pamp bars. Or if it's silver you're looking for, 100-ounce Royal Canadian Mint, Pamp

00:13:30.940 bars, Asahi bars. They're all LBMA approved. That's important.

00:13:34.420 What does LBMA approved mean?

00:13:36.420 It's an acronym for the lunge.

00:13:37.340 Because on the one hand, when we watch the markets, and we see the chicaneery in the

00:13:41.440 paper market, it's all happening at the LBMA. But yet, we still want LBMA approved product.

00:13:49.740 Yeah. Well, it's similar to like the US dollars.

00:13:52.240 What does it stand for first?

00:13:53.300 The London Bullion Market Association, so the LBMA, they're the foremost, I guess, the

00:13:57.660 overseers of the gold and silver market. They do two things. The shenanigans with the

00:14:01.660 price, yes, put that aside. But they help ensure the overall experience of your gold and your

00:14:07.080 silver purchases and you're buying and selling. Remember why gold and silver. Central banks

00:14:12.460 around the world need gold and silver for two reasons. Liquidity first, and the decouple

00:14:17.500 their wealth from currencies that are being devalued. The Canadian dollar has lost over 95%

00:14:22.680 since 1913, a purchasing power. And the London Bullion Market, what they have done, they have

00:14:29.220 created a closed-loop chain of integrity to ensure that the metal has been sourced ethically,

00:14:33.960 that they're pure, and that they're minted in the right way. So you have lists of bars

00:14:38.680 that are public. And if it's not on that list, that's what we bring to the table. And if it's

00:14:43.020 not on that public list, we're not going to give it to you. There's no need to compromise

00:14:47.220 in your wealth insurance. Remember, this is wealth insurance first. So why would you compromise your

00:14:53.340 insurance policy? If you actually want an insurance policy, Jeremy, we don't buy a share in an

00:15:00.060 insurance company. You buy the actual policy. And when you're buying physical, that's what the

00:15:04.740 central banks are doing. We're following what they do. You want to become sort of your own central

00:15:09.500 bank without being Karl Marx and a communist. And this is the way we do it. You know, you're

00:15:16.020 owning physical. If you can't hold it, you don't own it. Buying and selling is done on a phone call

00:15:20.160 with us. And we're always happy to help. Yeah. And the client gets an itemized inventory report

00:15:24.780 so they can see exactly what their bar numbers are, what they're holding in their own sub

00:15:29.580 account at the vault. So it's fully allocated to them, fully segregated from all other holdings

00:15:34.580 at the vault. So you have your own sub account. So unlike other versions, and there's a place for

00:15:41.040 everything, right? We're not against anything. There's a place for everything. Absolutely.

00:15:47.380 You know, ETFs can be a great way for getting in and out of the market if you're looking to trade.

00:15:52.740 Physical market is not necessarily going to be economical in that means. As well, perhaps,

00:16:01.400 I don't think it's a question of saving money, but perhaps, you know, if your budget in your

00:16:06.820 registered account might be only $6,000, $7,000, then an ETF or pool account becomes a lot more viable,

00:16:13.420 especially when a 100-ounce bar of silver today costs something like $7,500.

00:16:17.140 $100. But why? But why gold and silver in a registered account? Because in my mind,

00:16:24.720 and we've been doing this for over a decade in the registered accounts and helping clients to have

00:16:30.240 TFSAs, RSPs, Liras, LIFs, RIFs, and RESPs. But the big key for me is that when you have

00:16:39.520 deposited your funds into an RSP and deferred your income, great. Number one, you're not giving the

00:16:47.740 taxes to the government. You're staking yourself your own money. I think that's important. Number

00:16:53.520 two, now the clock is ticking. You have to know if you've won the game in registered accounts. In my

00:17:01.560 opinion, you have to beat inflation and then beat the taxation at the end because you deferred that

00:17:07.580 income tax. And so now you have to be able to overcome it. So to me, if you say that inflation

00:17:14.540 is 7% a year, that means on the decade, you need to be making 70% in your portfolio. Over a two-decade

00:17:23.200 period, 140%. Now you also need to overcome the- Withholding tax. Not withholding tax, but the

00:17:31.840 income tax that you'll pay at the end. Let's call it 30%, 40%. So basically by the time you're done

00:17:37.660 after 20, 30 years, you need to make 200%. Gold over the last 20 years is up well over 900%. Silver's up

00:17:46.120 well over 700%. This completely blows away any cost of doing business issues you may have with

00:17:53.000 acquiring a physical asset. But to me, that's the key. Now, again, it doesn't have to be everything.

00:17:58.980 It could be a portion. As you said, you're diversifying a portfolio or having things that

00:18:04.120 are negatively correlated. You want some on red, some on black, and that's what having a physical

00:18:08.980 asset that's negatively correlated to the dollar does. But to me, that's the key of the registered

00:18:14.100 account. And the proof is that over the last decade, we have clients who are up well over 200%.

00:18:21.420 No managing of a portfolio and mixing this investment with that investment. We're not

00:18:29.220 financial advisors. We're only bullion dealers. But as a person who's held bullion for over 15

00:18:35.060 years, it's the easiest thing. You just hold it. It's simplicity. Absolutely. And that's what you want

00:18:40.820 to do. Number one, understand that you're converting out of a currency that's being debauched. And this is

00:18:46.680 the first step in the manifesto. In order to take control of people, going after bank accounts and

00:18:52.880 things like this have happened. The currency, the assets that you have within your RSPs are

00:18:57.980 denominated in a currency that are being destroyed and depreciated in value. We have a rate cut cycle

00:19:03.720 on hand. The United States will be cutting interest rates on December the 10th, I believe.

00:19:08.580 Further, the Bank of Canada. What's the percentage rate that they're giving?

00:19:11.580 I think quarter point. But as things progress, we could see slashes happening. The overnight repo

00:19:18.420 market is also another market that we keep a keen eye on. There's a lot of risk in the market.

00:19:24.140 So when you see these things happening, by converting out of a currency, you're now denominating your wealth

00:19:29.100 in ounces that are liquid for you. And we hold it entirely outside of a digital banking system.

00:19:35.280 When you have policies against your money, because your money is just digital ones and zeros on your

00:19:41.400 bank account. When you log in, it looks great. We all love to check it out. But really, if you go to

00:19:46.620 the bank and ask for that in cash, what are you to do with your money?

00:19:50.420 Do you think right now the main concern that people should be looking at with regard to physical metals

00:19:56.880 is a concern of the stock market collapse or, you know, things being fragile? Or are you looking

00:20:06.340 more at the reset of central banks have been buying gold like crazy? We know that they're buying it

00:20:12.520 because they understand there's going to be a reset and that gold is continuing to revalue from here.

00:20:18.660 Right.

00:20:18.680 And so they get to add the asset side of their balance sheet. Right. For me personally, I think

00:20:23.340 it's Jim Rickards has talked about this. It's not so much trying to pay down the debt. It's building

00:20:29.320 up the asset side of the balance sheet and creating productivity and jobs and lowering the cost of

00:20:34.900 energy because you could also lower your energy costs, lower your food costs, still have inflation,

00:20:40.180 but you've mitigated the pain. Right. Right. And gold and silver have certainly done that as well.

00:20:44.700 But again, is it we're worried about the fragility of the market or is it that it's being revalued so

00:20:52.900 much and so quickly? I think fragility is leading up to a pinnacle where we are leading into the

00:20:58.660 solution. We know gold and silver to be the solution to boost that side of an asset of your asset side.

00:21:05.100 Right now, the U.S. just passed 38 trillion in debt. The global debt is over 300 trillion.

00:21:10.240 Before World War II, the U.S. had debt and 20 percent of that debt had to be gold. They had to

00:21:17.340 have physical gold. There was a ratio there. Well, now, fast forward where there's 38 trillion plus

00:21:22.540 200 some odd trillion in unfunded liabilities. The gold represents only 2 percent. So the balance

00:21:30.120 sheet is way off. We're going to need to rebalance it. But going back to Jim Rickards, you know,

00:21:34.180 he's talked about what leads to the fragility or a recession and crash or depression. It's

00:21:41.380 illiquidity in the markets. There's no liquidity, which is what I brought up earlier with the repo

00:21:46.020 markets. It's showing signs of slowing down. Money is not flowing freely anymore. Banks are hoarding cash.

00:21:55.680 You know, this is this is usually the cause of major market issues. And when you have a liquidity

00:22:00.880 crisis, when everyone tries to hit head to the door at the same time, Jim Rickards calls that a nice

00:22:06.680 nine event because you're not going to be able to sell when you want to sell potentially. So firstly,

00:22:11.660 you want to set up that insurance policy, create that hedge that is away from that madness into

00:22:16.500 physical precious metals, which is the largest market in the world. Gold is bears the number one

00:22:20.800 market cap globally. It's the largest market in the world. It's not as volatile as people or planners

00:22:25.840 may say it is. It's actually the currencies that are being destroyed and losing purchasing power.

00:22:31.520 The currencies are the volatile ones. So we have a few minutes left.

00:22:36.000 All right. Yeah. And I want to talk about the supply demand issues in silver. Again,

00:22:44.980 we talked about the deficit, meaning they're using more silver than it's coming out of the ground.

00:22:49.540 But this week, there was a crazy breaking story about nuclear plants, the amount of nuclear that's

00:22:58.320 being planned to be built, the amount of silver that goes into maintaining a nuclear power plant,

00:23:05.500 and how much goes into building one. Can you talk to us a little bit about that?

00:23:09.940 Yeah, this is beyond the AI craze, because with every, you know, everyone's using chat GPT today,

00:23:14.880 you need a data center. There's over tens of thousands of kilos of silver for every new data

00:23:20.760 center. So imagine the scale out to build that out. And who's going to finance? That's a major

00:23:26.080 headline this week. Who's financing this? This is going to require a lot of capital, a lot of money

00:23:30.200 printing for this to get something that is scarce. Six-year structural deficits coming out of the

00:23:35.520 silver mines. It's a very big problem. You cannot have civilization without silver. Now,

00:23:40.580 the news this week came from Jokin Steger. He's the CEO and founder of Swiss Resource Capital.

00:23:48.000 And he's a silver expert. And he gave us some crazy data regarding the nuclear, nuclear race. So energy

00:23:55.040 is an industry expert. He said that 2025 this year could mark the first year in history where 100% of

00:24:03.460 global mine supply will go into industrial usages, meaning there could not, there may not be enough

00:24:10.120 silver for the investor. That's going to be something of the past. Now, China is leading that 0.99

00:24:15.840 nuclear charge right now with 20 react, 23 reactors currently under construction, and they have 30 more

00:24:22.660 to come planned by 2030. That's a, that's another year that we talk about here in Canada, 2030, that plan,

00:24:29.240 while people are building and getting resources, we are scaling back. How many ounces does it take to

00:24:35.700 create one of these nuclear, nuclear reactors? Well, I know because I'm looking at it right now.

00:24:40.280 You got the number? I got the number, yeah. I mean, three to five million ounces of silver.

00:24:43.720 Three to five million ounces to build one. And how many, how many are they planning on building right now?

00:24:49.760 So 23 in China currently under construction, another 30, right? To be built by 2030. No wonder 1.00

00:24:57.080 they're, you know, X, you know, they, they're holding back on exporting silver because there's a boom,

00:25:01.760 they're building out AI, they're building out energy, they're building out nuclear, because they

00:25:08.360 understand that this is the silver stock out that TD banks, Daniel Galli talked about. He's the director

00:25:15.160 of commodities at TD Securities. And he mentioned three times that there's guys, there's a silver rush,

00:25:23.340 the silver stock out is at hand. There's less and less coming out of the ground and more and more heading

00:25:28.380 from London overseas. So there is a way for us to prepare for this, to buy into the silver stock out

00:25:35.480 and to get yourselves some physical precious metals, some physical silver. You want to give us a call

00:25:41.640 or visit the website, get in touch. And it's always an honor to help the Canadians. You know,

00:25:47.180 this is one way of carving out your freedom, a freedom from the erosion of currencies is one way

00:25:52.340 out. But to position yourself for what's to come. This is just the beginning. We're excited about the

00:25:57.000 numbers. 200% of portfolio is great. But this is just the beginning because Guildhall, we exercise and

00:26:02.940 we use the, we exercise the silver to gold ratio. We use that every single day to understand where

00:26:08.460 we're at. It gives us, it goes, this is a ratio that tells us how many ounces of silver to get one

00:26:13.360 ounce of gold. And the average is 30 to one on it usually. And they're mining it at eight to one,

00:26:18.700 eight to one. The historic ratio was 16 to one. And it goes back to the Roman empires, right? It goes

00:26:24.420 back to the Roman empire even before then. So we have a time tested, trusted ratio in cycles that are at

00:26:31.800 play to understand where we are. And breakouts do not happen in physical, in gold and silver until that

00:26:37.680 ratio goes below 70. And currently we're at 80 to one. You know what's crazy about that is 80 to one

00:26:44.340 is not a peak in the market. That's right. That's the beginning of the market. The last,

00:26:50.020 the first time we ever hit 80 to one was in 2008. And the market and silver fell to about $9 after it

00:26:57.240 had climbed up to 21. And we hit, we hit 80 to one back in 2008. And then it climbed all the way from

00:27:05.020 2008 through 2011. It got up to a 35 to one. 1988 got to 16 to one. Again, they're mining it at

00:27:11.620 eight to one and there's a deficit. So there is potentially a very, very long way to go

00:27:17.280 in silver. And to know that at minimum 150 million ounces are going to be used for nuclear reactors

00:27:26.540 is pretty astounding when you think about that they're mining about half a million a year,

00:27:31.280 or half a billion a year, 500 million a year. So that's a huge amount. Not talking about batteries

00:27:37.040 and wind power and medical usages or military usages or these data centers or anything else

00:27:43.120 that silver is used in. So the fundamentals for silver look really phenomenal at this point,

00:27:50.280 even with the gains. I know we didn't talk a lot about gold this week. We will talk a lot about gold

00:27:56.200 in the coming weeks. But if you're looking to get involved in the physical gold and silver market

00:28:01.660 with Guildhall, you can buy it direct from us. Gold bars. We just launched the half ounce gold bar,

00:28:07.420 which is great. I don't know how much we have. Inventories are always tight, but

00:28:12.160 you can always buy bars, coins, gold, silver. And we do help clients to store. And then as well,

00:28:21.020 within registered accounts, why have paper? Why have counterparty risk? You can own it yourself.

00:28:27.060 And one of the great things is even when clients convert their RSPs to RIFs, they can even take

00:28:32.480 delivery of it as part of their withdrawal every year, which is an exciting thing to see. So

00:28:37.340 that does it for a week of The Real Money Show, Jerry. Thank you for joining us. Thank you for joining

00:28:43.340 us. And we can't wait to speak to you next time here on The Real Money Show.

00:28:46.160 We'll see you next time here on The Real Money Show.

Rebel News Podcast - November 15, 2025

Sponsor ｜ Central banks know what’s coming — do you？｜ The Real Money Show Brought to you by Guildhall Wealth

Episode Stats

Summary

Transcript

Rebel News Podcast - November 15, 2025

Sponsor ｜ Central banks know what’s coming — do you？ ｜ The Real Money Show Brought to you by Guildhall Wealth

Episode Stats

Summary

Transcript

Sponsor ｜ Central banks know what’s coming — do you？｜ The Real Money Show Brought to you by Guildhall Wealth