Is This This the Beginning of $8000 Gold? Mike Maloney, Chris Martenson & Mr Jeff Clark

published on August 2, 2020

If we have the same amount of run-up that we had from uh the low in 2000 to uh the high in 2011 that was a factor of more than seven times and if we go from the bottom in 2015 of 1100 bucks we're talking about

Gold in the eight thousand dollar area which does sort of make sense hi this is mike maloney and we had such a great response from the video we did last week with jeff clark and chris martinson

Uh that we're going to try and make this a regular thing how are you doing chris hey i'm doing really well mike as you can see in the background i'm taking a covered responsible

Separate uh vacation i'm taking a little time off this week excellent uh and jeff how are you doing i'm doing great mike and it's great to be back with both of you this will be fun

Yeah it looks like for you it's uh you know there's no break from work for the weary uh you're you're hard at it still yeah not when going silver or running right so uh anyway um yeah the response last

Week was great so we're going to continue doing this and i want to turn it over to you jeff so you can start asking us some random questions and we'll respond great there's a lot of interesting

Developments this week and so we've got a another slew of articles that we're going to go through i'm going to throw these out to you guys but first we'll just highlight that uh as of yesterday's close we're

Recording here on a wednesday through tuesday gold is now up 286 year-to-date silver is up 356 percent year-to-date so both assets are really running so the natural question that that we've

Gotten from a lot of people is is this it is this the big rise in gold and silver that we've all talked about for so many years and for so long is this the beginning of that phase now

So mike what do you think well i think uh you know um you put uh a comment in uh on one of our communication channels about uh how every time the uh gold and silver break into new highs

Or do a breakout silver isn't into new highs but it's done a breakout uh there's all these commentators that say stay away from gold that was it it's gonna fall you know

And they all start warning about gold when has that had ever happened with the general stock markets you don't hear that with the dow and the nasdaq and the s p uh it's it's just crazy for them to

Think that and gold is money and uh it's responding it hasn't even finished responding it's nowhere near finished responding to the expansion of the currency supply

There's currency and there's money and the money has been lagging the suspended expansion of the currency supply big time so gold has in my opinion has a lot of catching up to do

When it comes to all of the ratios like the dow gold ratio uh the gold real estate ratio it's nowhere near the peaks that it was at and that's uh your last article jeff was about that the value of gold

And silver versus you know people always talk about the price but there was an entire uh section of my first book entitled uh don't tell me the price what's the value because the price doesn't mean

Anything it's how much stuff can you buy with it and gold just gold and silver have a long way to run it's going to be choppy uh but uh chris what's your opinion on this oh

Yeah we're just getting it at the beginning of all this and it's uh it's kind of a long answer but the simplest way i can put it is the central banks are cornered there's nothing they

Can do but print there is no alternative to printing so that's what they're gonna do as they do that they deform all sorts of markets but the biggest market they deform is the bond market

And now if you take a chart of gold price relative to the amount of negative yielding bond debt out there in the world it's a ridiculously high correlation so you

Remember mike you and i had to put up with this for years oh don't hold gold it doesn't pay any interest well now you can say yeah but at least it doesn't cost you negative interest right

And so what what happens when you get that negative interest rate environment you get big money moving into gold we've just started to see some of the first articles

Uh coming out about how um private money this is family offices pensions starting to say hey maybe you know so the big money when it starts to move into gold that tells you we're at the

Beginning of this whole thing and uh i don't think they've even really started yet but except at the very very beginning of that so negative interest rates i see more of those coming that's why i

Think gold is just getting started yeah you know i said uh quite a while ago that for silver to get into triple digits and for this market the third phase of this market

Would be marked by monetary demand what we've had so far is speculative demand uh and the run up from 250 to uh 1900 uh that happened from 2000 to 2011 uh that was

A greed driven mania and now we're starting to see people worry about currencies worry about fiat currencies and negative interest rates is as a sign of a world gone crazy

That's not possible under anything except keynesian economics it's it's totally insane to have negative interest rates to loan somebody your currency and them to charge you for the risk of loaning it to

Them and not getting paid back or getting paid back in inflated currency uh so i think that this uh past week marks the beginning of the third and final phase

Of this bull market and like i said in my video yesterday this is a there's a lot more wrong in the world today economically than there was in 1979

And early 1980 when gold peaked you know if we have the same amount of run-up that we had from uh the low in 2000 to uh the high in 2011 that was a factor of more than seven

Times and if we go from the bottom in 2015 of 1100 bucks we're talking about gold in the 8 000 area which does sort of make sense uh that that but you know things are actually

Uh much worse out there economically than they have ever been i think so anyway back to you jeff what's the next topic yes and on a related note and as you were saying chris i i think we're actually starting to see

Some uh other mainstream and wall street investors come into the gold sector here's an article on bloomberg just this morning gold surge to an all-time high is

Winning over a wider fan base of pension funds insurance companies and private wealth specialists and on top of that there's an article on xero hedge talking about how millennials

May flood into the precious metal sector and is gold the next tesla tesla stock as we all know is has gone up a lot uh so what do you guys think are

Are we seeing a wave now of the mainstream and wall street investors coming into this sector because if we are there's an awful lot of cash on the sidelines that could really really

Ignite this market even more than what we've seen well jeff i've seen some really exciting things and i've been watching this market for a long time and let me tell you something that i know

You guys are more familiar than i is that when gold would have a run you would watch the banks develop a larger and larger and larger short position we would look at this in the paper futures

Market in comex and this would this would be called uh you know the relative short position of the commercial hedgers the big bullion banks right

They would just get shorter and shorter and shorter and then you'd watch these crushing raids come in usually around 1 30 in the morning when the markets are thin right they would just dump tons of contracts and

Drive the price down wash rinse repeat so looking at the trading padding patterns this time we see the same thing we see the commercials getting really long

And we see the speculators which is another big that's the hedge funds they're in there the managed money they're a big category but there's this other category called other that's gotten really big this time and that

Includes some of the people you've just mentioned so we watch gold blast through its all-time high we watch it running towards 2000 just like clockwork monday night crush

Crush two big hits you know what happened gold and silver rebounded and i've been waiting a long time to watch uh their little magic uh you know

Middle of the night raids uh not work and i think that's a very bullish sign right here and it's in part because of that other category they may not be there to trade and try

And make a few bucks they're there to maybe hold that and maybe take delivery and that's what i think is starting we're starting to get the first whiffs of that that there may be a delivery issue

Coming up and i'm sticking to that i think there's a strong chance we see that here in 2020 if so watch out for prices they're gonna go sky high i think yeah you know um another thing another

Factor as far as all this big money this is uh something that's it's part of a chapter that i was writing for the great gold and silver rush of the 21st

Century uh and i'm you know a book that uh i'm still working on uh and this covet 19 thing has sort of thrown a wrench into a lot of that because it's sped it up so much that

Stuff is becoming outdated as i can write it but i did a video quite a while back that was about the uh all of the different factors in this market

And there were 10 different factors it um i can't even remember the names of the name of the series of the videos right now but um i was talking about how there were 10 times more people well it's

Actually i've refined the numbers there's twice as much gold in the world but back in the 1970s during that bull market uh nobody in the ussr could legally buy gold

In china under mao you could be put to death for hoarding gold basically only about 10 of the you know the population has about doubled since then in the on the planet but only about 10

Of that population that was half of what it is today could invest in gold uh there were a lot of countries that could buy it in south america and mexico and stuff but i took uh you know i went down to

Mexico back then and i've i had had never seen poverty like that in my life uh you had the either dirt poor countries with no commodities exchange in those

Countries or you had countries where it was just illegal and it wasn't legal for americans to own until the first day of 1975 and australians until the first day of 1976

So basically uh today we have 17 times more people that can buy gold and silver on this planet and only twice as much gold as before so this is a recipe and that's

Only one of the many many factors and then you look at what the federal reserve has done uh of by uh uh directing so much funds when they uh create new currency

And buy assets they have to to get it into circulation they've got to buy something they create currency they buy something what it what do they buy they have to buy uh

Some sort of government uh security so they buy bonds and they buy those usually from the uh big uh brokerage houses and so the the brokers are now flush with cash and the

Correlation between the creation of currency and the the rise in the value of the stock market is astounding i think it was uh 0976 uh or something like that which is that that's just huge i mean it means

There's almost no chance that there that this is an accident and if uh from 2009 to today if amazon stock has gone up 34 times and microsoft has gone up more than tenfold while um uh yours your income

Hasn't really gone up much at all that means that the federal reserve is printing currency and giving it directly to the world's richest people very good that's an excellent point thank you mike um

One of the themes that we got from the questions last week was is it too late for me there are a group of people out there that have not actually bought into precious metals yet or

Builds built some kind of resilient lifestyle for the type of crisis that's ahead so uh chris you first is it too late for someone to start to build a resilient lifestyle

Do they have to be wealthy to do so and what are they just very briefly what are the first things they should be focusing on if they haven't started this process yet well if you haven't started uh

It this is uh the best time to get started uh the second best time was a few years ago and uh but absolutely that we are at the beginning innings of of these big changes that are coming

My point of view listen i might be wrong but i'm not confused about this we've had a massive debt bubble it created the everything bubble everything except for a few commodities that's bursting

They're printing money like crazy as mike said they're handing it to the rich people all of these are recipes for things to go a little haywire so becoming resilient very important concept be financially resilient if you

Haven't bought any gold or silver and i'm not talking gld or slv these are nice to own or or even gold mining shares i mean physical gold in your hot little hands

That's the place to start everybody has to have that as an insurance policy when's the right time to buy an insurance policy before you need it uh so this would be a good time and and like mike i'm not

Price sensitive about gold or silver we can look at this and say we're on a price basis were there better times to buy yes uh just a few weeks ago even but the right question to be asking is do i have

My insurance policy in place if the answer's no you got to figure out how you're going to get that so that's a defined amount of gold indoor silver you're going to put in

Your insurance policy once you have that now you can take a deep breath and start figuring out if you want to add to that and create more of a of a reserve buffer um and then there we would suggest hey just dollar cost

Average don't try and be smarter in the markets as mike said they chop they go up and down and it's a there's going to be a lot of price movements along the way that's the nature of these things

But beyond that once you've got your financial house in order like that then i would suggest people start looking at building other forms of resilience into their life this could include

Where's your food coming from where's your water how do you heat your house how do you cool your house these are all investments people can make who own homes and that have fantastic returns better

Than anything wall street could ever promise you if you go about them in a thoughtful way so yes now is a great time to begin your resilience in no small measure because we've really

Only begun this period of disruption uh volatility that i think is going to be happening financially socially across all sorts of dimensions politically it's really just getting started

Yes what do you think mike for the person who hasn't really started uh protecting himself with their money well i i i never make uh i don't give advice so i don't make recommendations uh but

For me what i see out there is that uh for anybody that waits too long uh there i've often talked about the day that gold and silver become unaffordium and

Unobtainium and already we've seen pan american mining announced you know they're one of the largest primary silver producers and they announced that they uh

Shuttered two of their minds the the mines in peru i believe it was because some of the workers tested positive for covid and so they can't send these guys down into a hole working in close proximity

With each other and i said that earlier in the year that just when everybody wants it it's going to be in very very short supply and we're also seeing

The us mint is in response to the pandemic they are uh limiting the amount of gold and silver coins that they're going to be minting they just made that announcement a few days

Ago and so those are going to become in very short supply and when that happens the premiums go way up the price over spot the spot price is for an unlimited

Quantity of futures contracts and so that's not the price of gold and silver it's the price for an iou for gold and silver so if you want to buy an iou if that makes you comfortable

Buy that and watch the price otherwise what's important is to be ahead of the big rush yes very good that's that's right mike and with prices going up premiums are likely to go up as well with what the us mint

Has started to do so uh you really can't put this off too much longer uh so we really encourage people to continue to accumulate uh so let's switch gears real quick to a completely different topic

Uh and chris we'll start with you there's been some censorship of the hydrochloroquine you know program out there so can you comment on what's going on there this is not something i'm

Terribly familiar with i've not kept up on it but you can um some medical professionals appear to be being censored facebook twitter um there's you know it's a political

Thing as well how do you interpret all this and what's going on right now and is there how bad is the censorship i guess is my question and what do you think where do you think

This is going well i'd be happy to address that you know my background uh my phds in pathology from duke university i went through two years of medical training so i know a little bit about what's

Involved in running good studies and getting data and all of that so early on in the hydroxychloroquine and the chloroquine story it was determined that by in china way back in february

That administering those compounds and they're both derivatives of each other so i'll just call it hcq stands for hydroxychloroquine administering that early seemed to have some benefit everybody was searching for

Anything that could help against this new novel mystery disease right so we have data jeff from a long time ago that says this stuff works and then other studies started coming out saying it worked but for whatever

Reason in the united states and in the uk the decision was made at some higher level to really start demonizing hcq i'll leave the speculation as to why that is is it pharma greed is it because

People hate trump and he said maybe this stuff works we don't know what the reasons are but i can tell you the science behind this has been completely bastardized to the point that it's not about the science anymore

It's about something else but scientifically i will tell you there are dozens and dozens and dozens of studies that say this stuff works and it would be great to find anything

That works right and we have other protocols that we know work by the way taking vitamin d works we have all these things that we know work and instead of talking about any of that just this morning anthony fauci is on tv

Saying hydroxychloroquine doesn't work and we have the proof he doesn't talk about the fact that it does work uh he doesn't talk about all the other things that we could do that work and if

He cared about public health we would be saying here's what you need to know here's what works and for whatever reason that's not coming out so a bunch of doctors got together and said hey

We're on the front lines we're actively front line treating people with coven they put out their video youtube took it down twitter took it down it got heavily censored because it's not the story

That somebody wants told and maybe they didn't do the best job of telling the story i could give them some advice on how to do it a little better but uh it's very clear that if you want good high quality medical information in

The united states in canada and in the uk it's really hard to do that right now um hey looks like i got a storm coming yeah it's it's sad that all this has become politicized so much

Especially we're talking about a global pandemic and uh you know the future health of of society really so it's very sad so mike actually a separate question for you

Wait a minute i want to comment on that first of all i have a storm coming too there's a tropical storm blowing in so it's getting very dark outside and my lighting is changing as we're speaking uh but uh when it comes to the

Hydroxychloroquine thing a friend of mine just texted me some information and there have been 65 studies and 39 of them are peer-reviewed and the studies come up with if if

You're taking hydroxychloroquine before you're exposed uh the the uh results are close to 100 percent that it's going to prevent you from dying and uh if you take it a little bit later

It's it's uh much lower like about 60 percent and overall it's 75 effective and i mean this is 39 peer-reviewed studies and uh uh so we're talking about death

Rates like um in the usa there's 460 deaths per million people uh in uh cuba there are eight per million and they're so the the they show countries that have been

Administering hydroxychloroquine uh and the uh reduction in the death rate is just so dramatic and then it seems like uh those countries i don't know uh chris will have to comment on this but

Like the usa 460 deaths per million singapore which has had quite a number of cases you know the usa has 13 500 uh cases of covet per million people uh singapore has 8 700

Cases of covid per million people but the per million people deaths you know and then this isn't measuring by how many cases it's how many deaths there are per million

Uh 460 in the united states five in singapore eight in cuba uh malaysia you know where people take hydroxychloroquine because there's so much malaria uh four deaths per million hong kong three

Deaths per million indonesia uh is 18 deaths per million and i just find it very interesting that countries that have been uh administering this medicine that chris

Is talking about have such low death rates and the us spain spain is five uh 608 deaths per million belgium is 847 italy 581 so we're all

Way up there and the countries where hydroxychloroquine is common because there's malaria in those countries very low death rates chris can you comment on that

Yeah it's uh everything you're saying is is correct um we have all the data now from uh countries where we see they use a lot of hydroxychloric when they have very low death rates um

And we even have other cases where countries have been on hydroxychloroquine came off at their death weight went up and then they went back on it and it came back down again this is true for panama this is true for

Switzerland so we have all that data the mystery to jeff's original question is what is going on here as a scientist i am offended by what i see going on that has

Nothing to do with saving lives helping people you know recover from a really bad disease if they get it uh it's it's really it's it's astonishing to watch but i think it's

Just laying there something that's been true for a long time which gets us back to the whole fourth turning thing which is our major institutions are failing us when your primary health institutions

Can't even find their way to give you uh validated vetted and useful health information without being all conflicted by something politics money whatever the story is that's where we are right now and

You know to circle all the way back around to where we started this conversations part of the reason that i buy gold and silver because i don't trust the way our institutions are running right now

And it's so obvious when they can't even get health right this is about people's lives and we can't even do that without somehow getting confused

About it that's a very bad sign if you can't do it when people's lives are online to do the right thing what's the chance you're going to do the right thing when it's just money on the currency on the line right so that's how

I connect those two dots here yeah you know i feel like it's interesting is the uh medical the health care uh system that community in the united states

And especially the media are they now guilty of murder i mean they're suppressing data that saves people's lives uh in this study they say if if it's if something is uh

50 effective it would have saved 331 000 lives if it's 75 percent effective which which it looks like hydroxychloroquine is uh it's close to 100 if it's

Administered before catching it if it's administered after you catch it but early then the split between the two comes out at 75 percent effective in this study

And that is half a million lives saved it's 496 thousand nine it just rolled over to 999 right now uh so uh it's it's very interesting that our institutions the the people

That are running things seem to be uh skewing all of the information that we get these days everything is is twisted and i just don't trust any data coming

From any official sources anymore yeah good point uh mike the question i was going to ask you is is the answer maybe decentralizing the media is that where the future is is that process maybe starting to be

Underway uh we're going to wrap this video up so it's it's a big topic but can you give us like a one minute answer do you think that's what the future is going to entail to some level

Well that is uh sort of what is starting uh with i mean decentralization of media this is what has been going on with youtube and there are some you know there's a lot of

Misinformation on youtube and these other social media platforms but there is also some serious investigative reporting that goes on i mean chris did an amazing

Uh body of work from late january through today basically that is has is so research intensive uh what time do you get up and start those chris i know that you're

Still recording at like 4 pm is when you know but what time do you get up to start all of the research every day i'm usually up by 5 30 in the morning it's it's about

Eight hours of research and preparation that goes into every one of those uh so i was doing them every day for a long time i kind of got a little burnt i'm down to two a day i was supposed to be taking this week

Off as vacation uh and uh ended up doing one yesterday because so much important information came out and by the way a hundred percent of those were demonetized by google and

Youtube because they deemed this uh not to be um you know quality information even though a hundred percent of what i pull from is all scientific journals science papers some of them pre-prints but you know i'm

Just basically collating information which by the way shouldn't be up to me to do i was doing it because nobody else was doing it uh really honestly that's what the cdc was supposed to be doing but

They had no interest in that so um that's what i did and guess what uh that got promptly demonetized on day one they were quick and uh is your wikipedia page back no in spanish it is but they also yank

My wiki page down if anybody doesn't know that wiki is one of the least reliable least trustworthy platforms out there uh you gotta you should look into that because it's it's

Really awful what they what they do there and how they build them who they say they are who they actually are good and more different you know and so when it comes to decentralization

Though there's another factor and that is that uh there are all these brand new platforms for social media coming out that are driven on blockchains so it's not coming out of a single server

It's coming out of servers all over the world and it can't be controlled by a single entity uh so corporations can't delete your content

Uh it's it's it's voted a lot of them are voted up and down by the readers so uh the the content though stays there so like chris's wikipedia page that got deleted they won't be able

To do that it'll be the viewers just saying whether things go up or things go down but the information stays there and cannot be erased so that is a

Wonderful new form of decentralization and uh taking uh the ability to abuse power away from these giant uh media outlets uh like uh facebook for instance and and uh well and youtube so

Anyway back to you jeff very well put mike that's exactly true so we're gonna wrap this video up uh but you both have free books that can really help some people for those that haven't got them so chris you first

Tell us about the free book importantly that you have how people can get it and uh what it can offer to them sure i'd be glad to uh the book is called prosper with an

Exclamation point co-wrote it with adam taggart co-founder of peak prosperity you come by peakprosperitycom and you can find a free download of the book there and it takes you through eight different

Forms of capital that if you are rich in each of these eight forms of capital you will be resilient you'll be happier healthier wealthier all of that and uh that's our response to this troubled times we live in

Hey we all know about the problem and we can do well great problem definition but what's the solutions that's what prosper prospers about and there's a whole movement of people who are becoming resilient so uh that's what

We're all about helping people see how they can become resilient and mike tell us about your free book and how people can get it okay uh mine is uh focused on only one

Of the eight forms of capital that chris covers uh but its guide to investing in gold and silver uh it does have quite an education on monetary history

Uh and some simple economics uh it has been the best-selling book on investing in gold and silver since it was released first in 2008 and it was updated in 2015 but it is 95

Of it or more is pertinent and accurate today and so it's still it's it has withstood this the test of time uh and it's absolutely free and you just go to goldsilvercom

One word goldsilvercom like in the background on your banner there jeff yes exactly and i've got my copy sitting right here on my desk that's what it looks like but you can buy it on on amazon as a

The paperback like jeff just showed you or you can get a pdf by going to goldsilvercom right at the bottom of the page there's a place that you subscribe to the newsletter you're going to be getting jeff's

Insights weekly sometimes bi-weekly uh and and you'll be getting uh alerts when we come out with another video so well that's gonna wrap up this video so thanks again chris

For taking time out of your vacation to join us and bearing through the storms there both of you mike and chris so thanks everyone if you like this video hit the like button there

And we'll continue to do this format if you like it so chris and mike thanks again and we'll see you both next week thank you

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