David Morgan - Currency Crisis Will Easily Increase Silver's Share Of Financial System By 50 Times

silver price versus supply if it's really supply and demand how can you have $8 silver when you've depleted 1.5 billion out does supply and demand dictate the price of silver oh I think we just answered the question gregor Gregerson the founder of silver bullion will be joining us for our next live stream coming up tomorrow Friday the 23rd of August at 12 p.m. c EST for our European viewers 6 a.m. Eastern for viewers in the US we'll be taking a look at nickel and going over nickels recent positive moves and why nickel is on everyone's radar nickel gold silver current events with silver bullion founder Gregor Gregerson coming up tomorrow August 23rd at 12 p.m. c EST 6 a.m. Eastern see you then Logan everyone and welcome to another edition of silver bullion television SP TV I'm your host Patrick Vieira once again if you are new to this channel or have not already done so please do subscribe to the channel click on the belt be notified and do updates and do give us a thumbs up if you like what we do we appreciate your support our guest today is David Morgan the silver guru publisher of the Morgan report David is also the author of the silver manifesto and second chance how to make and keep big money from the coming gold and silver shock wave and we are delighted to have David here again as our guest today David and welcome to SBI TV how are you doing doing well thank you very much it's great to be with you glad to have you back again David really appreciate it Gold is up some 20% since we last spoke with you back in October of 2018 the price rally in gold and silver in the last few months has certainly been a welcome for bullion buyers and your call of 1400 gold in 2019 it's now a reality my friend great call and it's amazing how the sentiment on precious metals has turned in the last three months from all the negativity in the past six years my question is do you think that the up price surge is full evidence that gold and silver are off to the races and at what price point do you think any doubts about a bull market will completely disappear oh that's a good question well right now the way I see it you asking me the question is that most of this buying pressure has been done on the institutional side on a retail side a lot of the bigger dealers retail dealers have said and told me pretty much across the board that a lot of retail investors are selling back their goal with this $1,500 levels you're doing the interview and there aren't convinced that the bull you know there's a new bull lake taking place they were just happy to get out you know they bought it fifteen hundred six seven years ago it's there now there's getting out and just forgetting about gold so there's that side of it as well and your question is you know what level do we see you know the public are you guys convinced that you know this bull markets for real I think two things one is we need to reach a point where we do get a consolidation profit taking you know sell off whatever you want to call it and rebuild a base at some level and I don't know where that is maybe it's 1450 maybe it's 1400 I think it's impossible at this point to see gold trade below the 1350 of 1360 breakout so that will take place at some point the other part is when goal is at these levels the last time silver is around $25 pounds so I really want to see silver confirm Gold get into the you know $20 an ounce level I think that's holding back some people as well that silver is performing but not to the you know it's not really outperforming gold although the ratio has gone from by 95 to 85 and thinks about aviators we're doing the interview so you know until silver it gets in the gold silver ratio gets like 70 or better I don't think you're gonna see a lot of new participation in these markets especially on the silver side so I think we have more work to do I'm pretty confident we'll be accomplished I think that once the you know the public comes back into the market you will see silver outperform and it's just going to take probably a little bit more time you know I said 1400 is the minimum I you know it's always tough to gauge where the markets going I mean I didn't dream that we'd have a six year consolidation the gold market but that's what it took and the longer the base the bigger the move up so we have a pretty big base to move up from on both the metals the other part of why it's not being robust on the retail side is the bid-ask spread is extremely low in fact believe it or not the some of the dealers really don't want to buy back some product they're so full of inventory that they're not buy a back so they offer their offer to buy back certain gold silver products primarily gold there's not much selling on the silver side so so cheap but on the gold side there's a fair amount of people taking their their breakeven their profit or whatever just I go to overload or whatever the reason so mostly it's the ETFs you see these big moves into the ETF you see it going to Deutsche Bank Deutsche Bank I think taking possession of I think it's nine million ounces of physical silver in the last month or so and down and so there's a lot of work to do I think really for this we you know bullish face and really get going as far as I mean obviously $200 moves a big move I'm not trying to set try says to get participation where people are excited about the gold market again I'm surprised but I'm not a perma ball but you know soon as the breakout happened I'm it's right on it my members were right on it I showed them on the charts and look you got to get in and you know we trade and invest so I totally the last thing you want to do is sell anything on your core holdings and we are I have been taking some profits these levels on my trade position but it's exciting times and it's here to stay I'm convinced of it I just don't think you know well I don't know why the public is so Larry at this point I guess they missed it and burned for so many years that they're sure that the cartel is going to sell everything off and I'm gonna see this big drop in the gold price again and they you know are gonna be discouraged one more time yeah that's um well I I think we're seeing the same things over and over we we did see some pretty good selling but they're not it turned and we saw quite a bit of buying and and I think overall the sentiment is they want to see bold be able to handle the beat pounds and and breakdowns that that come his way first and then I think they're gonna out the pilot they'll pile in but um is the commitment of traders report also showing data that support that gold and silver prices are heading higher very surprising I mean I look at it not as often as I used to tell you I'm gonna study every week it's almost since the advent of the SLB in the GLD and some of the other etf's the co t is still important that I do look at it and lately I be looking at very avidly as I used to in the past so the co T on gold got to I think was six hundred thirteen thousand contracts open interest I am all the data here I'm printing it out week to week like I used to looks like it was six hundred and basically seventeen thousand anyway I was looking for the font you know sell-off and the sell-off came like the following week and was 53,000 contracts if memory serves and the price didn't really go down at all it was neutral off of slightly I have not seen that kind of a volume of selling take place and the gold price stay firm so if mark is definitely trading differently than it has in the past the paper paradigm doesn't seem to have control you're not seeing these kind of moves where I expected to see gold test the $1400 level and it did in today tree five contracts it went right back up I mean these are unusual training patterns for the gold market so I'm convinced that at this point in time the physical markets actually taken control of gold right now and the problem I have with that I'd love to see it I want to see it the problem is and maybe I missed it it's my members although I've done a video since then for my membership I didn't want to leave them the impression that the physical market is taken over from here on off from here on out because I've seen a few instances in my many years in this market where there is a physical control for a while then the entity X Y Z out there being a nation-state being a sovereign wealth fund being a hedge fund being a large individual be it drunken no I don't know who gets their their their bid satisfied and they get their physical gold and it gets tucked away in their vault now that's accomplished now it goes right back into the paper paradigm where gold is allowed to move you know five bucks a day kind of a thing so I don't want to leave anyone with a misimpression that we're on our way forever the physical market has controlled now from this point onward it certainly looks like it has control right now but again repeat myself once that whatever is driving it is satisfied that is that amount is accomplished it's put away it's done then we might get right back into a situation where we've got these narrow trading range and we're building a base or whatever but eventually I think both metals will have a breakout to the point where it does go physical alone and the physical demand is so high that there's really no way to put the genie back in the bottle so you'll have a time where we saw like during a 2008 financial crisis well you basically have two markets you have a paper paradigm and you'll have a physical market and the spreads on those will be different and expanding and that's when the paper paradigm will have a lot of pressure to either close down or they would never default because you read the contract they're allowed to settle it I mean to say oh the Comex defaulted they can't buy contract I mean if they could forced you to take a check that they can write out of thin air or they'll never attend to default by their definitions by our definition they've defaulted because it can't produce you know the medal that someone wants but that's not how they view it so anyway I probably overstated the case but that's the way I see it it's fine well I'm just curious is the rise in the gold and silver prices a warning sign of an impending economic crisis or eating people are just trying to find that safe haven because that there are a lot of things happening in the world whether it's in the Gulf or whether it's the trade war with with China it's both right now it's a precursor to the ultimate the ultimat is failure of the system failure of government failure of trust of government and you know people say governments don't fail well take a look at the Roman Empire take a look at the Byzantine Empire take a look at the Mayan Empire take a look at the empires they all fail and when they're based on you know pack of lies with a pack of the ruling elite to care about themselves only it could care less about the peons below them you have a crisis on your hands and right now it's manifesting there's a currency crisis with trade wars and you're seeing them move into the metals as a safe haven and everyone not everyone but the vast majority believe that things will continue down the road the same as they are tomorrow is going to be just like today and I hope that's the case but it may not be history certainly proves that there are these disruptions that take place very rarely but when they do take place they are huge and I mean you go to the Dark Ages as an example and normally it's been in certain locales in other words on the hyperinflation of the Weimar Republic I mean that you know if you're in Austria or Italy or whatever you can scape it but this time there's no escape in my view it's going to be a dollar demise and once a dollar demise that affects every country on the planet so yeah if you're Amish you're probably going to be okay if you're a Mennonite you're probably gonna be okay and if you're living the outback as a with the Aborigines you're probably gonna be okay but anyone that you know city state is not going to be okay it's gonna be huge disruptions oh and the credit system but everything depends on the credit system which is basically everything that you can look at in the store you need transportation any communication and of course the banking industry at large downs I'm not trying to overstate the case governments and really had lower on the truck on the pyramid than most people think it's really bottom I mean if you go and look at the movie thrive it shows you plain and simply that governments like the lowest thing is us peons but then up from there is government they're not from there's commercial banking system enough from there is the international banking system enough from there is investment banking system enough from there is like the IMF and the World Bank so it's all the strattice going up to the top of the tippy pyramid is all banks it's the banks that run the governments it's not you know it's all communism socialism fascism you know social democracy these bankers don't care what you use as your ruling philosophy as long as they make the money for you they could care less if you're communist socialist Democratic Democratic Socialist they don't care as long as they're in control of the money and this is you know where we have such infighting about political idealism and all that and believe me I have my own views on that we're gonna get into it but what I do I look Freda I won't say that but when you are controlled by the powers of being the control money and that's the ultimate power or control mechanism they don't care they really don't care these guys these people these entities whatever they are are looking after control they're not looking after I mean when you're truly in there how much more money do you need it it's not about the money to them it's about control that's what it's about absolutely oh you you touched on nob thrive which is available on YouTube if people want to go ahead and have a look and the pyramid that you're talking about it showed the different entities such as governments corporations central banks the I'm sorry I've left it out yeah thank you sure yeah all that these these things you mentioned government from central bank's a global financial entities IMF B is all forming the power of the financial elite the one question though why is the government at the lowest rung of the pyramid and the BIS at the top basically money is power and power is control and the people that have the power to print the money have the control so if they have to control the control government and the government reasons the government is at the bottom is because corporations are above that the corporations are based on credit so you could have very lousy crappy corporations that lose money year after year after year that are still thought of as being very powerful important entities but they don't make any profit so in a real free market the right to succeed is also the right to fail so if they don't make a profit they should fail but since they're chummy chummy with the you know when he called crony capitalism they're able to go to their banking buddies and stay alive by borrowing more money okay you know I mean look at Lockheed we back when I mean got the three dollars a share and was bailed out you look at General Motors and bailed out look at Ford is bailed out look some of the banks are better I'll back sounds are good but no so it's about control and if you control the money supply you have control over everything and that means the corporation's the corporation's are above the government because as it was laid out in the movie network you know he was explaining on his TV interview or whatever it was I forget the movie exactly that there is no us ma there's no USSR there's no Europe there's ITT 83m it's corporations and these are international corporations that have no boundaries they are global they're globalist and it's a global situation where they're for-profit only see the problem I view of capitalism and this is gonna you know people think well David's on the left and I'm really not on the left or the right but regardless I've started using word conscious capitalism I mean you know I think the profit motive is the best that the competitiveness is probably good thing on balance but the problem with unconscious capitalism is there's built-in obsolescence I mean if you are going to be a good steward of the resources that we have if you build an automobile or an iPhone or a refrigerator or whatever or house and house probably a good example but a lot of these things are designed to last two years or three years or the car may be you know so but you if you were doing it consciously you build a car the last 40 years or whatever another mechanical they're gonna wear out and parse after we place - not naive but the design philosophy would be to make the best to last the longest and make the best use of the resources available for as long as possible and then when it wore out it would be designed to where it could be easily replaced so you'd have a way to replace the parts that wear out the easiest like brakes on an automobile that's very simple to replace them and this type of thing so we're we're when you're driven by profit only and you're not really thinking through what the ultimate consequences are we've done ourselves a big disservice and unfortunately that's been the case for way too long I mean if you're going to drill oil and not adhere to let's say environmental principles that are beneficial to the area at large or the planet at large you're doing a big disservice in the long run yeah your bottom line might look better on your quarterly statement but what are you doing overall and these are the kind of thinking patterns that we must get away from and it's almost too late in my view in some of these areas because we've gone too far for too long and to be able to come back and be in balance is going to be the ultimate challenge and nature has the final say believe it or not Nature has the final say and so money is not a solution you know forget even a sound money system which would be a help if you've pushed the environmental system so far then it's not able to come back fully then you are in a situation where no amount of money could solve the problem no amount of technology could solve the problem I mean very few people talk about this anymore Patrick but if it takes 10 calories of energy to produce one calorie of food how long is that gonna go on not very long these financial elite at the top are they favorable towards gold or do they see gold as a threat it depends who it is I'd say most of them see it as a threat but there have been in the past notables that were favorable to you know an honest money system and gold being part of that I'd say on balance right now most are unfavorable to it but it could still be put back into the system just to regain confidence from the the masses you know if things blow apart the way I think they could then the one of the solutions could be to say okay okay we get it your Gold's going to be part of the new you know globo the new currency of the world it's not going to be a dollar or an Aussie dollar a canadian dollar or zim dollar or anything it's going to be a one-world currency and it's called the Globo and the Globo is going to be comprised of these currencies and gold and that's it and everyone there is no currency fluctuations anymore there's no competing currencies there's no devaluations because there's one currency and one currency only it's a worldwide currency and this is it and it's all for your own good do you think that these financial elite us as we're calling them they're in control do you think they'll allow gold and silver prices to I passed there their previous all-time highs or like you said do you think they're they're just gonna give us a little bit of meat on the bone and just kind of let us mosey along well I think that's that they don't have ultimate control I think that the market does I'm still that much of an idealist I really believe that to be true I mean especially on silver because banks hold a fair amount of gold and you know push comes to shove and want to push the price down you know some banquets your turn to cough it up like we did during the London gold pool I mean basically they tried to hold the price down and the gold pool of London had a great deal of gold and they did their best to suppress the price but they ran out and so I'm convinced that if there's enough purchasing power that they really couldn't control it I think that's the case do they want to control it yes well they try to define it yes but as I said earlier you know the the truth of the matter is that the paper paradigm on the Comex mainland of course there's a London LBMA and other you know Singapore exchange but you know most of that market that's paper can be overcome by physical by and I think that will take place in this next run-up it's not imminent it's not going to happen in 2019 or probably 2020 but by 2022 might it could happen at any time but no I think I know you know they'll do they the government's will stop it I mean it could be mainly illegal to buy it again take doubt but that's possible but if that were the case there's always a free market that would buy it anyway and then there are some oh they could put a limit on you know I can only buy so much and all this stuff and I want to scare people but no I think ultimately first of all they would ignore it as long as they can especially silver I mean they might look at gold because again the banks hold it but no one in the leak look at silver as a monetary asset which is really good for us because that means that people have control they have to control the silver market not the banks so I mean the banks have control the paper silver not the physical so that's to be determined I do believe that there will be a run in the gold market that's unprecedented I think it's going to be a run that's a worldwide run that there's going to be a loss of confidence in the system at large and they'll be failures across the board and I think a lot of we'll start with what we're talking about earlier I think that this food crisis which everybody likes to eat you know it's not just a habit you got to have it it's going to happen by the end of this year it's going to start waking people up that when they go their supermarket and I'll throw an example of grapes for an example aren't there in the summer you know I mean who gets grapes in December in Washington State where I live well I did why because they imported from South America so we're so stupid we think you know F groups in December no it's only to to the modern world and I our ability to trade with other nations that we had the luxury of having that kind of fruit in the middle of winter in a place like this that you can't even grow grapes part of the timing you can in some areas I want to misstate that but so if that's where we'll see it and people pay attention to two things basically food and energy costs and those are the two things that are taken out of the CPI and the actual government mandated consumer price index takes the two things that humans need most out of the equation food and then and then it's ridiculous but this is the world we live in this Orwellian make-believe things are what I say don't look out the window and tell me what you see here let me hypnotize you this is the Ruby hopefully okay so I guess one way we the people can speak is through the markets and looking at things like gold and silver to let them know we don't exactly want or trust their monetary system anymore how can i how would the financially depicted in this pyramid hold up now with the growing influence of China and the BRICS bloc of Nations because in that peer it seemed that uh most of the elements in that pyramid were from the Western countries yeah I call it the anglo-american Empire I mean it's basically through London then I work through New York and it is a Western influence and then the BRICS nations have tried their best to move away from the doll or domination and they've done a fairly good job at that and so needs to be determined how well they've extradited themselves from the dollar dominance of the anglo-american Empire they certainly have decreased their holdings of US Treasuries they've done a lot of settlement in their own currencies so you've got you know a lot of contracts are based on yuan you've got Russia yuan trading with each other's currencies so they have done a great deal to move away from the dollar denominated situation but not totally I still think at this juncture if the dollar failed it would affect everyone including the BRICS but the BRICS are trying their best to mitigate that situation a little longer you know the Silk Road goes and the more China manifests by buying assets in the ground I mean there's no better storage facility than Earth itself in my view I mean if you're buying resources like you know copper or lithium and molybdenum and vanadium and you know cobalt or whatever throughout Africa and other locations and you know those out right and then you're buying up areas where you can actually farm and you know those out right I mean you're doing a pretty good job of your use of capital you're converting that paper and the real asset that has very big meaning as far as your industrial base and feeding your population is concerned so China has done a fairly good job of turning this Kesey and experiment into real assets but they're having major problems too I'm not trying to paint a inaccurate picture they've done better maybe at spending their money prudently but they still have some problems because of the keynesian disease of you know printing money out of thin air and loaning it to willy-nilly without prudence and getting misallocation of capital building these ghost cities and give me money to you know basically people that all they wanted to do is get greedy get rich and not really produce anything worthwhile with the you know loan that they got to make you know XYZ corporation and never happened but they've looking up pocketed the money and took off to you know different nation state or whatever a lot of crap is going on always happened I mean none of this stuff that's new excuse me none of this is new at the end of the age of empire you see ramped it legal stealing legal and I say legal from the aspect that the laws get changes like Adachi is booked the law and they basically contort twist and stretch what's legal and what isn't for their benefit and it's basically taking as much as they can get it turned in a big greed game at the end and of course the people at large suffer I mean the biggest discrepancy between the haves and have-nots grows over here and people you know get upset and rightfully so and then you know just taxing the rich alone isn't the solution either I mean there's so many problems that are so deep it's hard it's difficult to go through them one one by one and really have a solution but basically I'm in the solution as I've said before is very simple to honesty if you have an honest financial system then you have a much better chance of having a more let's say balanced system but when you can you know borrow money take it off shore not having on your balance sheet you know write it off I mean all do you fail as a bank so but you get the bonus at the end of the year because all that burdens put on the taxpayers it's their fault well notice the corporation's fault the corporation should be the one to fail the banks be the one to fail and the people that bought their bond should be out of luck you know I'm sorry folks you picked the wrong bank to invest in you lose but that's not the way it's working the way it's working as well they don't lose they get a bonus ridiculous but that's how it is it's it's an upside-down world David let's let's talk about silver I watched one of your other presentations online on the analysis of silver market back in 2018 and you shared some pretty interesting data which I hope you can give us an update to first I want to ask you about the silver market balance where you showed that silver prices were depressed in the 90s and early 2000s when silver in inventories were actually in a deficit can you help us understand about why this seems to turn our understanding of supply and demand and the impact of prices on its head I'll do my best Patrick it's you know it's in a real market you know supply demand should set price I mean it's pretty simple the basic laws of economics called laws for a reason yet today's topsy-turvy world doesn't seem like they apply so if you go back to 1990 to 2005 were in a deficit of about a hundred million ounces a year so to keep balance between supply and demand we depleted the two billion ounces of physical silver that existed in the 1990 down to 500 million in 2005 so he took off 1.5 billion ounces that were basically eaten up eating up how well even up in some of them went to landfills but a lot of it were cell phones and computer screens and flat-screen TVs and automobiles and all these thousands of uses that silver has anything electrical electronic then the rebirth of mining really started to take place in the early 2000s driven mostly by China and we got 2006 where we started producing more silver through mining and recycling that was greater than and the deficit so we started to build inventory so since 2006 till now we're back up to about 2.2 billion ounces so if you look at a plot of silver price versus supply and maybe I can do it here while I were talking but if you look at 2005 for the silver price when the inventory was 500 million ounces I'm gonna try to do this while I'm talking you'll find that the price was pretty darn low even though the supply was extremely low and so I'm gonna move this I'm looking here I'm gonna move this to oh she's gonna get to 20 years and then update this chart so I'm looking at 2005 going across your eyeball yeah like $7 silver in 2005 when the supply was at the lowest it's been in decades so if it's really supply and demand how can you have $8 silver when you've depleted 1.5 billion ounces disorder then you look up 2011 when we peaked it roughly $50 and by that time we've gone out 600 million ounces we were gaining about a hundred million ounces a year we were losing 100 million ounces then you know mining and recycling product about basically adding 100 million ounces a year so that's easy to do under a million times six years is 600 million so here at the 1.1 billion so you're at a point where the price is at at all not at all time AIA nominal double top 50 it's been there in 1980 and you built up the inventory by 600 million ounces so does supply and demand dictate the price in silver oh I think we just answered the question it's the amount of buying that's on paper that determines the price of the physical paradigm and that's what you pay in the physical world for it if there's enough supply and most of the time there is okay how about the global financial wealth can you give us an idea of Silver's share of global financial wealth and how significant it is today well I have to my hat did you have Christian because Jeff is the one that brought it to my attention I knew it was low but Jeff did the did the lecture on it that the silver summon a few years ago but the global wealth in terms of gold is roughly 1% I think it's slightly under that but the global wealth in terms of silver is point zero two percent so I just actually wrote a a little basic update to David Smith who works with us here at the Morgan report and I guess I turned off my phone I could do it from memory but he asked me for kind of a punchline another a wake up call about silver and so I said well silver will will shine and will something and then it will skyrocket and it will still stupefy the vast majority of investors but think about the fact that silver represents point zero two percent of the world's financial system it would need an increase of a factor of 50 times to get to one percent of the world's financial system and in an all-out currency crisis it's not unimaginable to me to see 1 percent of the world want to go to the silver market and as a safe-haven investment is it still true that if everyone in the US and and only the u.s. bought let's say two ounces of silver they would corner the silver market oh yeah yeah sure oh sure yep oh maybe now it's two and a half ounces but I mean it's roughly that yeah yeah no I mean you know well just thinking we just said I mean point zero two percent represents the financial assets globally I mean it's so under love you know there's another promise silver that you know I've talked about not too many do and that's the accessibility of silver everything silver is like easily accessible well that's true if you're in Singapore or North America but in South America even in Mexico well Mexico's fairly easy to get silver but most South America it's not most of Asia it's not and most of Europe's it's not oh wait a minute give it a you out of your mind it's a world market well it is for the paper silver that's when we're talking about physical silver market if you're in Europe you're gonna pay 70% value-added tax 10% value-added tax so you go down to the local coin dealer with your currency your euros or your Pound Sterlings or whatever and you say I want to buy some silver the coin is going to talk you out of it are you gonna talk yourself out of a say well you buy this gold for no value added tax but if you buy silver you're gonna pay 70% what 17% more so I got to see a 70 percent rise in silver before I break even on this investment are you kidding me no not kidding you that's it now that's I'm speaking in a general broad-brush way because there are exceptions just like there are in US and Canada as far as like if you're buying certain coins or what's considered to be a different form but I don't want to get too far than they'd agree generally speaking I've said it's accurate and it's difficult to buy silver and I think it's deliberate personally I really why why is there a v80 on silver not gold in Europe why what's the reasoning there yeah well Stu discouraged by it that's really the reason no it'll say it I'll say it but that's yeah here you so I'm basically there's really not enough silver for half the world's population to even for half the world's population to to get in on well if you look at the you know what we think we know about the amount of gold silver out there there's roughly six billion ounces of gold and the population the world is stated to be seven billion people so that means there's roughly an ounce not quite an ounce of gold for everybody on the planet but there's two billion ounces of silver and there's still seven billion people on the planet so there's a lot less silver of an ounce or so for everybody on the planet versus if there's a gold so an investable form I'm not talking about you know plated silver tea sets and stuff like that it would have to be melted down and turn into bullion I'm talking about I'm talking about what physical investment silver exists right now and what investable gold exists right now it's about a three to one discrepancy it's actually more gold per person available there's silver so I guess with those words right there we should be buying more silver but um I've I've asked you so question a lot of times to to guess to wear on me if gold hit ten thousand what would they do but I kind of switch it up and if silver were to hit $100 per ounce or $200 per ounce would you be selling holding buying more or where would you be it yeah I would look at it you know not so much as the dollar price but the value because the value may not really be determined in in a number there's a real currency crisis but what is it by in terms of automobiles whereas it by in terms of real estate or all an or bushes a wheat that's pretty easy to determine what the value is so if it's older valued I would look to be a seller I mean I'm not married to it I'm married to it philosophically for the honesty aspect of it but know if it's overvalued I'll be looking for something that's undervalued at the time which could be raw land it might be a biotech company it could be you know a business or two I don't know but certainly I don't think there's a reason to invest and not take advantage of the market when it's overvalued its overvalued personally I will hold some regardless just cut them because it's been my life and it'll give me something of a legacy to pass on to my kids but I've certainly not gonna hold on so tight that I'm not gonna take advantage of it being overvalued so you know what is the paper price when it's overvalued I don't really know yet 200 maybe working out $200 silver might be sound big but you know breads 50 bucks a loaf so how valuable is it right so we have to measure in real terms I'm not I'm just saying it for the audience you already know this Patrick but a lot of people get hung up in fact I have to make a joke here if I can but and this shows you how people really don't understand money very well some do some don't but um so I showed that to my mother-in-law one time really yeah and she goes oh if only were real I said it is and even though I told her it was real he still did not get the concept that a big number like that was worthless right you know and that's why the $200 so 400 are so I'm trying and you already get the point so does your audience but we get hung up because we're taught to look at our net worth in terms of how many US dollars are you worth or how many Aussie dollars or you know how many euros or whatever we're taught to look at ourselves in terms of the paper price of our holdings whereas you know if you look at money being gold and silver only then basically if you own more silver today than the only two years ago you're wealthier regardless of what the paper price is at the time now that's hard to swallow because it's a whole paradigm shift in your thinking but you know if we were on a silver standard and you had ten ounces in 2016 at 200 ounces in 2019 you know damn well that you were worth more yeah okay cuz I I get a bit nervous when I hear people giving targets on they'll either say my target is five thousand ounces of silver and I'll stop or they say my target is $30 an ounce and and this is the part they're missing just what you're you're exactly talking about now so I appreciate you saying that but um David before we wrap up can you let our listeners know more about your work and the Morgan report absolutely so I have two lists one is a free list one is a paid list the free list you can go to the Margaret report comms can be an email address and we'll get you started every interview like this that I do will be sent to you I do a weekly perspective where I wrap up financial news usually talk about gold and silver at the end figure out on the website the Morgan report comm my favorite speculation really of one of my most favorite speculations of oh I hate to over amp this thing but I don't know if it's of all-time but certainly in the 40 years plus I've been looking at this it's an e-waste technology so scroll down and be sure to scroll down almost to the bottom to watch this little film clip there I have a little icon there says forget about Bitcoin its revolutionary gold production store it could make you a fortune and you can watch that little movie and then if you scroll down to the bottom you'll see what you get in terms of gold from a really robust goldmine in terms of how much gold you get per ton and then it could compare that to this a waste company and it's unbelievable how much more gold there is an electronic waste and there isn't a rather robust gold mine but very few people know the story only subscribers the Morgan report are aware of it yeah that's that's good to know and if there is one takeaway that that I got from this interview it's it's the word honesty and so it's nice to hear that word you you rarely hear that word anymore so up honesty is where it's at and maybe we can get some honest money along the way as well so David Morgan I I do thank you for coming on the show and and as always it's it's a pleasure speaking to you and I hope we can do this one more time and we wish you the best of health stay healthy my friend thank you yeah Thank You Patrick I appreciate that very much that was david morgan publisher of the Morgan report for more of his insights on silver and the global economy please the city's website the Morgan report com if you like this video please hit the like button and subscribe to the SBI TV channel to be updated on new content and do also check out the ESPY TV podcast on iTunes and Spotify

Channel: Silver Bullion TV

Views: 51,100

Rating: 4.88345 out of 5

Keywords: david morgan, morgan report, david morgan silver, silver, gold, precious metals, silver investing, gold investing, currency crisis, financial crisis, economic crisis, financial elite power pyramid, commitment of traders report, gold bull market, silver market, silver purchasing power, silver bullion, gold bullion, sbtv, thrive film

Id: 52y9Ji547hY

Length: 47min 1sec (2821 seconds)

Published: Wed Aug 21 2019