THE BIG MIG SHOW https://thebigmiggold.com https://prepperbar.com
JULY 11, 2025
EPISODE 605- 1PM
Here’s why Bitcoin hit an all-time high and can run to $120k
Stablecoins go mainstream after Circle's blockbuster IPO. Here's what they do.
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The. None.
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Welcome back to the big big show Global Finance Forum, the number
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one finance show on Rumble. That's right, powered by Genesis
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Coal Group. Of course, with your host George
00:01:08
Valentin and myself, Lance Miliaccio, we're going to be
00:01:12
bringing you a go to source for cutting edge insights in the
00:01:15
world of finance. Genesis Gold Group believes in
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empowering faith driven stewardship where gold and
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silver are an integral part of a balanced portfolio.
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Protecting your finances with precious metals has never been
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more crucial. Join us as we explore the forces
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shaping global markets, the power of precious metal digital
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assets, and the dynamics influence economies across the
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globe. George, man, how are you?
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I'm good. Second show of the two.
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Baby round two, huh? Yep, second show of the day, you
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know, But they listen. Finance things are exploding all
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over the place. Gee, I wonder why?
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We got trade deals. We got the big beautiful bills
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signed. S&P and NASDAQ closed at an all
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time high yesterday. We'll see what happens today at
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the end of the day. But you know what I don't know.
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But you know what we don't got? We don't got lower interest
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rates because Jerome Powell doesn't know what he's doing.
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Yeah, he's a Jag off. Yeah, he, you know, he's going
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out of his way to try to hurt the economy.
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He can't have Trump looking good.
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I've said it all along, let's nationalize the Federal Reserve
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and kick his ass out of there. But it is what it is.
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Start up by thanking our sponsor, of course, Genesis Gold
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If you'd listen to George and I two years ago, you'd be sitting
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on a lot of upside. So head over to the big
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grab yourself a couple of bars. Break.
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Me off a piece of that prepper bong.
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There it is, there it is. You know he's got to do it.
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All right, so let's dig in. We got a lot to cover today.
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There's a lot going on, man. It's the markets are moving very
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quickly and Bitcoin is on a frigging tear Yeah.
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I mean, it hit an all time high already.
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A lot of people are saying it can run to 120.
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There's a lot of support. You know of course it reached
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170 four O 1 and that was an all time high for the second day
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in a row, causing a boom in the entire market.
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Of course this bullish momentum is building crypto analysis from
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the B to B in pay shared with cryptonews.com Of course, more
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ever all coins could be the biggest winners in this cycle.
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The oil all kinds are moving. We're going to be talking about
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that also. And after weeks of trading at
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about 1:06 and a little bit lower at different times,
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Bitcoin broke that 110. Then it broke that key level at
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1:12, and it confirms the market has broken out of its indecisive
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phase. A lot of people have been
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talking about that for a while. I don't know, George.
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Do you think 120 is around the corner, man?
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I mean, listen, it hit a high all time high yesterday 1/17 and
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change 1:20 is right around the corner.
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Everything's going up even XRPI mean look, you know once
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Congress got that bill passed, you know sentiment people will
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give me a more positive. You know, they're saying they're
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looking at even the money from the tariffs coming in and if it
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stays where things are staying and then and our GDP grows, that
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2 trillion deficit they're saying over 10 years from that
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big beautiful bill is covered. It won't be no deficit.
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So listen. But The thing is, you only got
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Trump for four years, right? That's why you going to make the
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right choice in these next elections.
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Well, the news is, is that a lot of people were wondering if the
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alt coins were going to follow and it's already proven so that
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they are, you know, Bitcoin's always really resilient.
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It's more resilient than the all coins are usually, you know,
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even a theory of an XRP and Solana and you know, it'll,
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it'll impact those macro shocks moving a little bit.
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But man, the all coins are usually more sensitive.
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But here it goes. Of course, anything that lowers
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risk appetite, here it goes, man.
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The all coins are moving and I think we're going to see more of
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this in the short term. So if you're not in the market,
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I recommend that you watch our show at 3:00 PM on Wednesday and
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Fridays. That's the Crypto Power hour.
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For everybody out there that doesn't know about crypto, it's
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the go to show. It's the number one crypto show
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on Rumble based on views. If you're looking for a place to
00:06:45
get an education, find out about current news and events, maybe
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find out about projects it might be worthwhile getting involved
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with, that's the show to do it with Crypto Power Hour.
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It's on its own channel here on Rumble.
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So you've got to actually hit it and you'll go find the channel.
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It's called the Crypto Power Hour.
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All right, So what do you think, George?
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I'm being pretty bullish on the all coins right now.
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Listen well XRP has been jumping up to what 240 I think 2:40 and
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change salon is up there it. Was in two 50s.
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Was it two 50s? OK, Yeah, two fifties, 256,
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seven. Even better.
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So what does that tell you? They're going to follow.
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Everything's going to follow suit.
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Most of like this, you know, the stronger, you know, backing
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coins, all coins like XRP Therium Solana, they're going to
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they're going to I think they're going to continue to rise right
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on the heels, you know but what's going to be the next
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breakout? What's the resistance level for
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XRPI think it's well, it seems like it's like 260 mark 270
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before it hits the three again. That's what it seems like, but
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we saw that suit that has to get finalized, that got finalized.
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I think XRP would be the biggest breakout.
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Could be on a tear for sure. I mean, you know, clearly the
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the percentage wise it's doing really, really well.
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But you know, I think this I think for anybody that is in the
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markets when it comes to crypto, definitely important to start
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dipping your toe in it. If you guys you should have
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known we talked about in the crypto power.
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I think we even mentioned on the Global Finance forum a couple
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weeks, we were talking about that Circle blockbuster IPO, you
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know, and that's making stable coins go mainstream.
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And you know, the Circle came out June 5th.
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The the stock climbed more than 500% and they've issued over 61
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billion worth of its stable coins, the USDC Dash USD, and
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that makes it the second largest in the 250 billion, $3 billion
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stable coin market. Second largest stable coin out
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there. Big stuff.
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There's a chart there if you want to throw it up towards the
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Oh yeah, look what it's been doing.
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I can't believe it over the climbed over 500%.
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Wow. That 500%.
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That's an MPO. Man, people were cleaning up.
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It's amazing. I, I just, I'm like, I didn't
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know they went that much higher. I mean, all about the stable
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coins, right? Yeah, and here's the deal.
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Circle didn't wait. They've already gone into, you
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know, bringing out other stuff. I mean, there there was no slow
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down in them going public in kind of a waiting phase.
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They just announced June 30th, they applied to establish a
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National Trust bank charter. It's gonna be called First
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National Digital Currency Bank. And if it gets approved, it
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would be a big step toward integrating stable coins into
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traditional banking and financial markets.
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Now, you know, Ripple is their big plan is to replace the SWIFT
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system and to be a big part of that transition.
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But let's talk about, you know, I know this audience isn't quite
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as familiar because you guys aren't the crypto guys.
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Maybe let's talk about stable coins a little bit.
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George, what are stable coins for the audience?
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I'm so glad you asked. This is like education.
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This is my thing I love. It yeah, you like the education
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George always does. Let me say this.
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He does the education piece on the crypto power hour and we
00:10:09
cover everything. This week we're going to be
00:10:11
covering staking and you're going to be blown away by some
00:10:14
of the returns you can get it staking.
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They're really unbelievable. But go ahead, George.
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All right, so stable coins, what are they are a type of
00:10:20
cryptocurrency where whose value aims to mirror that of another
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asset. So let me give you an example,
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right. So let's say I'm going to say
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Lance is buying a stable coin pegged Nah to the US dollar
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would expect the value of the stable coin to remain at a
00:10:36
dollar, right, which some referring to these coins as
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digital dollars. This sets stable coins apart
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from other crypto currencies everybody which can change in
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value significantly. Stablecoins, they're, they're a
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popular payment option. You're going to see that which
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is a forefront and probably paying bills, going to your
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machine, a local supermarket, whatever that's going to be the
00:11:01
go to, I think. But you know, it's popular
00:11:04
payment. It's other than cryptocurrencies
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because it, it has stability. Their their price is so stable
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and it's easier and quicker online transactions than
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traditional funds. And that's a key right there.
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We have price stability, quicker transactions, that's what we
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want. Some believe that these
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qualities could bring stable coins into broader use.
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So over long term, we expect stable coins to evolve from
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money rail of crypto markets to money rail of the Internet.
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This is bursting analysts, he wrote when initiating coverage
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of a circle. We believe total industry stable
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coin supply will reach listen to this number guys, 4 trillion
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over the next decade, meaning it I don't want 4 trillion, Lance.
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And that's a big, it's a big number.
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Yes, and then I. Wouldn't have guessed it would
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go that high because look like I guess today's stable coin
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markets 253 billion. So now you're talking about four
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trillion. That is a massive, massive
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increase. You know, and I think don't
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forget now there, there are more than one kind of stable coin.
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There's two types of stable coins.
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There's collateralized, collateralized in what I would
00:12:20
call the algorithmic. And I think on collateralized
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coins, you know, they keep the prices stable with reserves.
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So when you get these providers issuing stable coins pegged to
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the dollar, keep reserves at least a dollar or equivalent
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holdings for each coin they issue.
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So they actually have to have those U.S. dollars on hand.
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And of course, with those reserves, the users expect to be
00:12:41
able to exchange their stable coins for dollars.
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They're looking for instant liquidity or other backing
00:12:47
assets at any time. So if they want to take the
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stable coin and cash it and do another currency, if they had to
00:12:52
use USD, they can do it right on the spot.
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And of course, stable coins can be backed by a Fiat currency.
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Of course, we know the US dollar is a Fiat currency or
00:13:02
commodities like gold, which you know, Solem Global, if you
00:13:04
haven't checked them out, Solem dot global.
00:13:07
They're doing some stuff with gold backed stable coins and
00:13:10
also below market gold that you can buy.
00:13:13
Pretty interesting. They've got a new proposition
00:13:15
coming out. It'll be released here in the
00:13:16
next week or so. That was a little teaser I just
00:13:18
gave you. So I think the majority of the
00:13:21
value right now in the stable coin market is held by U.S.
00:13:23
dollar or you know, cash equivalent backed stable coins.
00:13:28
But this, you know, circle CEO, I know that he's Co founder
00:13:31
Jeremy Allar. He believes that the US
00:13:35
shouldn't take that for granted. And I think he's right because I
00:13:39
don't think it's only going to be US backed stable coins.
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I mean, I know the US dollar would love to see that, but
00:13:44
there's a there, this is a serious digital currency space
00:13:47
race is what he's contended. And then US needs to put laws in
00:13:50
place allow for digital dollars to thrive.
00:13:54
And he added to that on the question of whether a commodity
00:13:57
money like gold or digital commodity like Bitcoin could
00:14:00
play a larger role as a store of value or a reserve asset.
00:14:04
I'm open minded about that. I think that could grow over
00:14:06
time. Well, it is growing.
00:14:09
Lots of people are adding their strategic reserve with Bitcoin
00:14:11
kicking ass like it is. You can't blame them.
00:14:14
They're looking for the upside. You know, the people that got in
00:14:17
at 100 are already up, up nearly 20 grand per statement or
00:14:21
Bitcoin. People like Michael Saylor are
00:14:24
way up. You know, he's gone up just
00:14:25
crazy amounts of money, hundreds of millions of dollars in the
00:14:28
last couple of days. So you know, of course
00:14:31
stablecoins got their start, you know, roughly A decade ago when
00:14:35
the 1st and largest Fiat based Tether USDT, that's the the
00:14:40
stablecoin the tether does that's the USD dash USD and but
00:14:44
they came out in 2014. So they're probably the the O GS
00:14:48
in the game. So I think it remains the
00:14:51
largest stablecoin by market capitalism with 159 billion in
00:14:55
circulation. So Tether is not to be trifled
00:14:59
with. They've got a Bigfoot in the
00:15:00
game, and people have already been using their coin for a long
00:15:03
time and they like it. So they're going to be a hard
00:15:06
one to knock over. All right, let's talk about all
00:15:09
this debt, George. We got a bunch of debt, U.S.
00:15:12
debt. They're talking about how it's
00:15:14
going to push gold prices higher even without any kind of fiscal
00:15:17
crisis. Yeah.
00:15:20
Well, the problem is we're not doing anything to lower debt, it
00:15:24
seems like. I mean, just the interest in
00:15:25
loan loan is astronomical. But gold prices, you know,
00:15:28
they're going to benefit from soaring US deficits and mounting
00:15:31
fiscal instability even if no near term crisis occurs.
00:15:36
But still it's going to, you know, gold's going to benefit.
00:15:39
This is now, this is coming from the analysts at the World Gold
00:15:43
Council. I didn't even know we had a
00:15:45
World Gold Council. WTC, right?
00:15:49
Gold member runs it. Gold member we got we got all
00:15:52
these world council things and I don't know I just don't like
00:15:54
anything where we have world council like W whatever who and.
00:16:00
WEF World Economic. Forum and who and all them you
00:16:04
know, but they're saying they're saying these uncertainties
00:16:07
they're they're triggered a global reallocation of capital
00:16:11
and they're saying but as a weaken the US dollar, but the
00:16:13
dollar, you know, is starting to bounce back.
00:16:16
Yeah, but isn't it all because of the big beautiful bill that
00:16:19
triggered this? I mean, all of a sudden the US
00:16:21
is staring down at what, 3.43 point?
00:16:24
5 trillion more in debt over the next decade?
00:16:27
And they've. Got no plan in place, 36
00:16:29
trillion and the US $5 trillion lift to the debt ceiling, which
00:16:34
they said they could lift it so they added to heal up another 5
00:16:37
trillion. I mean, that's what they keep
00:16:39
doing. They don't come up with a plan
00:16:40
to pay it off. They just keep leaving it,
00:16:41
lifting the debt ceiling well. So they say that with the big
00:16:46
beautiful bill, add 2 trillion. But however, you're not looking
00:16:50
at what it's how it's going to stimulate the economy, the
00:16:54
growth, the the money coming in from tariffs.
00:16:59
I think you might be low on the $2 trillion number.
00:17:01
No, but they're saying that's going to offset that and there's
00:17:05
not going to be a deficit. However, that's great and dandy,
00:17:08
but we still need either to cut the government, like break, you
00:17:14
know, cut it more and figure out ways to save more money or, or
00:17:18
fight the wherever the corruption is and the money
00:17:21
stealing because we need to pay, start paying that debt down.
00:17:25
I mean, it's, it's crazy. How about the 2.6 trillion they
00:17:30
owe Social Security? Yeah.
00:17:33
I mean, I think the other one, listen, I think, I think Trump
00:17:37
should just tell China we're not whatever debt we owe China,
00:17:41
whatever, we should just say, you know what, we're wiping it
00:17:43
off for the for COVID. Yeah, COVID and a lot of crap.
00:17:47
Yeah. You know, but I mean, I think
00:17:50
our biggest. I think it's a great idea.
00:17:52
I love it. Yeah.
00:17:53
Well, you know, this all kind of started with Liberation Day.
00:17:56
You know, Donald Trump's initial tariff announcement set off a
00:17:59
bunch of alarms and all kinds of unprecedented sell off in U.S.
00:18:03
Treasury. Everybody was in the panic and
00:18:06
of course, the market barely recovered from that turmoil.
00:18:08
Now it's pondering the potential impact of the BBB.
00:18:12
I don't think it's beautiful. That's my own opinion.
00:18:15
But you know, nonpartisan Congressional Budget Office
00:18:18
estimates it's going to add the 3.4 trillion and then that's
00:18:23
already we're at 36.2 trillion. So that's damn near 40 trillion
00:18:28
with AT dollars. So of course the investors are
00:18:32
watching to see what kind of impacts the spending bill having
00:18:34
on asset allocation strategies. I can't blame them.
00:18:37
Makes sense to do that. But you know, the rising
00:18:41
interest rates would normally be seen.
00:18:42
I think it's a significant headwind to gold prices.
00:18:44
That's usually what happens. But there's been kind of an
00:18:47
inverse thing that started in 2022 that again, you know, it's
00:18:52
been counterbalanced by other factors.
00:18:54
Normally you would see gold prices going down, but gold
00:18:58
prices have been generally rising even as you know, the the
00:19:01
rates rose currently above 2% over this time period.
00:19:07
I mean, it's kind of a big deal. And you look at the higher
00:19:09
opportunity cost counterbalance by other factors.
00:19:11
And we talked about it in the show.
00:19:13
We talked about you have to look at the big picture on gold
00:19:16
because you got to look at things like the central banks
00:19:18
that are buying up, you know, and accelerating their
00:19:20
purchasing of gold and you got to look at what bricks is doing
00:19:24
their acceleration of purchasing gold.
00:19:26
So of course MO got gold that gets bought, the less there is
00:19:29
the market scarcity increases prices.
00:19:32
So those are, you know, a lot of the emerging markets central
00:19:35
banks, you know, are, are all looking at do you know, buying
00:19:39
gold for diversification of course to kind of offset
00:19:43
geopolitical risk. And of course gold's performance
00:19:46
has been excellent. We talked about it.
00:19:49
I think when we started pitching gold on this show, we were 21,
00:19:52
maybe 19102 thousand an ounce and now we're what, 3400 and
00:19:57
change today? I think that's right, 3433,
00:20:01
George. What's the price of gold today?
00:20:04
It's like almost 34. Yeah.
00:20:09
Well, here's the thing. When you start looking at this
00:20:11
stuff and you start thinking to yourself, OK, where's it going
00:20:13
to go? I think gold's going to continue
00:20:15
to go up. My prediction, like Georgia
00:20:16
said, it's going to continue to go.
00:20:18
I think the the, and a lot of this, you have to look at the
00:20:20
big picture. Again, the difference between
00:20:22
the yield on AUS government bond and the fixed rate of an
00:20:25
interest rate swap has been pushed up.
00:20:27
And I think what that is, that's a potential sign of fiscal
00:20:29
concerns. So in other words, in simple
00:20:32
terms, I think, you know, we're witnessing investors inabilities
00:20:35
or maybe even unwillingness to absorb debt issuance or sales by
00:20:39
other bondholders at prevailing prices, you know, because so
00:20:43
that's exerting upward pressure on bond yields, pushing that
00:20:47
U.S. Treasury swap that spread
00:20:49
higher. And you know, if you look at
00:20:52
gold, we've got a chart here, gold rising alongside US fiscal
00:20:56
concerns. That chart, Media five kind of
00:20:59
just lays it out what's really going on in the market.
00:21:03
So when you know, I think this for a simplified point, you
00:21:07
know, the, the differential between U.S.
00:21:09
Treasury swap, you know on the swap which which we believe you
00:21:13
know of course is, I think that's partially linked to the
00:21:15
US fiscal concerns. I think it's statistically
00:21:18
significant. That explains the movement in
00:21:21
the gold price. Volatility, volatility,
00:21:25
volatility, but. No doubt.
00:21:26
Are you going to, is there still you think going to be volatility
00:21:29
now? I don't know.
00:21:30
I think it's going to it seems, it seems like it's going to
00:21:33
stabilize more. Well, here's the thing.
00:21:38
I think the US is in kind of a precarious fiscal position,
00:21:41
right? And we talked about it on our
00:21:42
regular show. I can't see that the gold market
00:21:45
isn't going to continue to be supported by that US fiscal
00:21:49
issues, You know, as the bond market is going to remain
00:21:51
sensitive to U.S. debt sustainability.
00:21:55
Everybody's worried about whether or not the US would
00:21:57
default on this debt because again, there's nothing in the
00:22:01
beautiful bill to really compensate and do something to
00:22:04
change that. Now that World Gold Council,
00:22:07
they say that's not, you know, they, they, they don't see a
00:22:09
full blown fiscal crisis in the US as an imminent threat to gold
00:22:13
or to actually the markets. I don't know if I agree with
00:22:17
them. The bigger the debt gets, the
00:22:19
harder it's going to be for us to maintain the interest.
00:22:23
So I, I don't know where this is all going to head.
00:22:25
My personal opinion, you know, hope for the best but expect the
00:22:30
worst maybe. You know, it seems like the
00:22:32
government, like the Congressional Budget Office,
00:22:36
they're never right anyway with their predictions.
00:22:39
They're off by so much. They're off in 2017 with Trump.
00:22:43
But The thing is, you always talk when Congress and any
00:22:48
president, they always talk about all that we got to balance
00:22:50
the budget, adding this much to the debt, to the our debt.
00:22:54
But they never talk about any plan to start paying off that
00:22:58
debt. You never see anything.
00:23:01
You don't hear nothing. It's like, you know they don't
00:23:07
care. It's not their money, right?
00:23:09
Yeah, well, I think they do. In essence, it is their money
00:23:11
because they're they're taxpayers too.
00:23:13
I should I shouldn't have said that, but.
00:23:15
No, I don't think they do. They spend it like it's not
00:23:18
their money. I don't know.
00:23:23
It's just and they and they fight to people like fight tooth
00:23:27
and nail for programs that are just wasting money and nothing's
00:23:32
getting done. It's like when's enough, enough?
00:23:34
When will it stop? I don't know.
00:23:41
I don't. Just all we can do is wait and
00:23:42
see. Wait and see.
00:23:44
Try to be patient, you know. Yeah, sorry, I'm just.
00:23:52
What are you doing? Somebody just Eric Rhodey, just
00:23:55
Eric Rhodey, just text me from a different number.
00:23:58
I didn't know who it was. And he's like, like.
00:24:01
Well, I think we got to take a short break, don't we?
00:24:03
Yeah, Yeah, it's time. We can if you want.
00:24:05
Or you want to show money, money, money in the Honey,
00:24:08
honey, what do you want? No.
00:24:09
Let's go ahead and take a short break and then we come back.
00:24:11
We'll cover a lot of it all. Right.
00:24:13
So don't go nowhere, but listen, hold on.
00:24:15
Before we go to break, wait a minute.
00:24:17
Don't forget to hit the like button, follow button, share
00:24:21
button. I'm going to get to that after
00:24:22
the break, but don't go nowhere. Join the chat if you can.
00:24:25
We'll be right back. I'm going to send Lance after
00:24:28
you notice you don't get the sling on right now.
00:24:30
You must be feeling better. Yeah, they told me I'd.
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And guess what? Education.
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The world's first 4 trillion. That's right, $4 trillion
00:30:14
company NVIDIA almost a giant roller.
00:30:18
I remember when companies George, which seemed like a
00:30:20
couple of billion dollar company was a big deal.
00:30:22
Then it went to 50 or 100 billion, but 4 trillion.
00:30:27
This is crazy. This is this is a big I got to
00:30:30
give it to them. You got to give it to NVIDIA.
00:30:31
They have been around for a while.
00:30:33
They've been doing it, man. They are bringing returns like
00:30:36
nobody's business. So for the people that own the
00:30:38
stock, I'm jealous. Great job having the foresight
00:30:42
to buy that stock in. Advance.
00:30:44
Yeah, I mean, it is unbelievable, but you know.
00:30:47
This happened on Wednesday too man.
00:30:50
It, it is, but I want to bring up something because there,
00:30:52
there was in a Seeking Alpha survey, there was from November
00:30:55
2024, WSB subscribers were polled on what would be the
00:30:59
first US company to reach for a trillion market cap.
00:31:02
And guess what? NVIDIA was chosen by a
00:31:04
landslide. Being out Microsoft, Apple, I
00:31:07
thought, you know, maybe Apple would have been there.
00:31:09
I don't know what is Apple up to now?
00:31:11
I don't. Know, but I don't think they're
00:31:12
in the realm of this. No, maybe.
00:31:15
I don't think so. Maybe close to two, maybe.
00:31:17
But yeah, but, you know, listen, that forecast has now been
00:31:22
realized. It's a they're hitting my zone.
00:31:24
Just, you know, during a break. I was telling Lance, I've just
00:31:26
seen that NVIDIA is also for making special AI chips for
00:31:31
China, which should be ready in September.
00:31:35
I mean, they're moving fast. For everybody out there that
00:31:36
didn't knew NVIDIA, I remember when they came out, it was in
00:31:39
the early 90s, they were just, they were really just for video
00:31:43
gamers. They had a high performance
00:31:44
graphic cards and if you had an NVIDIA graphics card, it was a
00:31:48
big deal. And you know, they they and they
00:31:51
really leveraged the way now their CEO, Jensen Wong, and
00:31:54
that's HUEANG for anybody out there that wants to look them
00:31:58
up, you know, but you know, they leveraged their way into the
00:32:02
mainstream computing, you know, and they and they came out with
00:32:04
gaming computers. You know, they, they allege that
00:32:07
they're the speeds for the gamers were that beat the market
00:32:11
and man, they have just they have just exploded since they're
00:32:15
they're now the king of the AI revolution.
00:32:17
Everybody that's anybody that's building an AI solution ChatGPT
00:32:22
grok, you know, anybody that's building powerful computing the
00:32:26
US government, guess what, NVIDIA is what they're using.
00:32:30
So these these they're they're powering these massive
00:32:33
infrastructure build outs. You know that that they need
00:32:37
that kind of high performing chips and I don't think the
00:32:40
demand's letting up because of course the big tech rivalry is
00:32:43
going on. Facebook's building their system
00:32:45
X is expanding their system Grok, you know, and all these
00:32:49
language models. Well, the Stargate project,
00:32:53
that's America's AI footprint, that's going to be a big one
00:32:55
also. And there that there's big money
00:32:57
going into that. And guess what?
00:32:59
NVIDIA is the process, but you know so NVIDIA.
00:33:02
'S stock. Really.
00:33:03
It took off when they when they in 2022 in November when they
00:33:07
had when they announced break out the release of ChatGPT,
00:33:10
that's when their stock really took off.
00:33:11
But I have a correction to make. Apple is worth 3.2 trillion.
00:33:16
Yeah. So I'm not too far behind, but.
00:33:21
You know, think about it like this.
00:33:23
He has a public company. NVIDIA is worth more than in
00:33:26
than the stock markets of entire countries like Canada, the UK,
00:33:31
France and Germany. Now I want to say this to you.
00:33:35
What's even more amazing is NVIDIA was a penny.
00:33:38
Stock. Less than 10 years ago.
00:33:42
So if you owned $1000 with NVIDIA back in 2015 as an
00:33:46
example, you'd now be sitting on $326.
00:33:54
Now there are a lot of people that a lot of people are saying
00:33:57
is it expensive? Is it too expensive?
00:34:00
Not really. Well, a lot of people are saying
00:34:02
no, George, the summary I have to say is the answer is no.
00:34:07
It's not too expensive. So maybe break a little bit of
00:34:10
this down for the audience because who knows, maybe there's
00:34:12
some people out there still thinking out there sitting on
00:34:13
the fence and buying NVIDIA and maybe this will push you over.
00:34:16
Of course, this is nothing on the show's financial advice.
00:34:19
Always talk to your own financial advisors.
00:34:21
We just try to educate you and maybe what what you're going to
00:34:24
learn about the show on NVIDIA. Maybe now you're going to want
00:34:26
to add NVIDIA stock to your portfolio.
00:34:28
It's not too late. If you can, I mean, listen,
00:34:31
Nvidia's their evaluation, it's justified by what dominant AI
00:34:35
infrastructure, explosive, really explosive earnings growth
00:34:39
and unmatched margins. This it's not about hyper bubble
00:34:44
dynamics. This is real people.
00:34:46
Their company delivers record-breaking revenue, profit
00:34:49
and free cash flow with expanding software like margins
00:34:52
and and the defensible ecosystem that's powered by CUDA and
00:34:56
proprietary networking. I mean, they're just moving and
00:34:59
they're building up what big plant here in the in the States
00:35:01
too now, right? Because of Trump, that's
00:35:03
correct. So imagine how much more they're
00:35:05
going to go up. I mean, what they're, they're
00:35:08
risk though. Every, every company's going to
00:35:10
have risk. By the way, anybody that says
00:35:12
they don't have risk is full of it.
00:35:14
But it's mainly geopolitical and competitive.
00:35:16
But who's their competitor? Who's even coming close?
00:35:20
I don't think they have one right now.
00:35:22
But their quality growth and and profitability are our pace
00:35:26
industry peers. And that's why they're they're
00:35:30
they're such a high premium valuation.
00:35:33
It's very high. So you can buy Lance just said
00:35:36
you can buy. You still can put it in your
00:35:38
portfolio. Buy NVIDIA stock.
00:35:41
You you can't go wrong. Does it seem too expensive for
00:35:44
you? I don't know, but we're going to
00:35:45
throw you some numbers right now and someone throw these numbers
00:35:48
up. Let me get the chart here.
00:35:50
Sure there's the chart, right. Every time they hit a new high,
00:35:56
someone, someone cries bubble right, They're going to cry.
00:36:00
But that these numbers come in and they've beaten all that BS
00:36:04
chatter, all the cry babies. It's it's.
00:36:08
Well, a lot of people said, George, it was too expensive at
00:36:10
500 billion, then it was too expensive at a trillion, then it
00:36:14
was too expensive at 2 trillion, now it's 4 trillion.
00:36:18
I'm not sure. Of course, the market, you know,
00:36:20
yeah, the market could be incredulous.
00:36:22
There's no doubt about it. You know how they like the down
00:36:25
talk. Anybody that's on a tear, but I
00:36:27
mean look at the look at the Q1 of you know of there generated
00:36:31
44 billion in revenue and 26 billion in cash in just three
00:36:36
months. So that 90% of that revenue
00:36:39
comes from data centers. But the good news, I think if
00:36:42
those margins are still expanding, and I think a lot of
00:36:45
that's got to do with the arrival of that new Blackwell
00:36:47
chip, which has given a super boom to all that proprietary
00:36:51
networking. I don't think it's, I don't
00:36:54
think it's a cheap stock, but I don't think it's expensive
00:36:57
because the PEO is falling, the EPS is steadily exploding, the
00:37:00
PEG is close to 1, The FCF yield is positive.
00:37:05
And I, you know, and I think in the midst of an investment cycle
00:37:07
like this, you have to think about and of course, now if you
00:37:10
start comparing what they would be their competitors like AMD
00:37:13
or, or Intel or Broadcom, right? I think that NVIDIA shows a
00:37:18
clear advantage in profitability, earnings,
00:37:20
quality, returns on capital. I think their whole thing about
00:37:24
the, you know, becoming the infrastructure for all the new
00:37:27
AI economy. And I think whoever's going to
00:37:29
control that infrastructure controls the cycle.
00:37:32
So this isn't a bubble. This is, I think they're in a
00:37:35
dominant position and and you know, of course then they're
00:37:38
monetized to the highest degree. So I don't know, I think a lot
00:37:43
of investors that are thinking it's already over performed.
00:37:47
I think they're wrong. Yeah, I mean, look, they're
00:37:50
saying, they're saying, look, it's $164 a share.
00:37:56
I just looked, it looked to make sure to confirm right now.
00:37:59
So it's really not, it's not that it's not it's not expensive
00:38:02
to buy compared to some other stocks.
00:38:05
But look, they're not just on what GP us anymore.
00:38:08
They're saying it's passport to the future.
00:38:10
And anybody that's in the forefront with the AI and then
00:38:13
and has the chips and stuff, let me tell you, they are the
00:38:16
passport to the future because it's surprising, you know, the
00:38:19
company's trying to come out with starting their chips even
00:38:23
compete. It's not.
00:38:24
Easy. I mean, at the end of the day,
00:38:25
it takes a lot of infrastructure.
00:38:26
Think about these guys have been in the chip game and the, you
00:38:29
know, the gaming game since 1990.
00:38:31
Three, all you need is couple smart guys to come up with a
00:38:34
different way of making a chip or somehow making it better, and
00:38:38
no or. Maybe.
00:38:39
And maybe somebody can RIP a new chip out of an alien spacecraft.
00:38:42
There you. Go.
00:38:43
You know what, I wonder? Do you ever wonder this?
00:38:45
You know, Elon Musk is a big gamer.
00:38:48
Do you ever wonder how powerful the gaming computer is on that?
00:38:52
He's probably using, He's probably loaded.
00:38:54
He's probably got a quad processor and video machine
00:38:57
knowing him, because of course, maybe Or maybe he's using Grok.
00:39:01
Maybe he's using the Grok system to play games?
00:39:03
I'm surprised he hasn't went, gone into this field and tried
00:39:06
to develop because you know, you look at his, his solar panels
00:39:10
and stuff, the way he makes them.
00:39:11
They're, they're unbelievable. They don't, they're not like
00:39:14
your traditional big ass solar panels.
00:39:16
They actually look like roof shingles.
00:39:18
Well, I'll tell you this, I, you know, as amazing as he is and
00:39:21
stuff, I think with the what, what I, this is my opinion, this
00:39:23
is an opinion, I could be wrong. I think the market is
00:39:27
underestimating the strength of, of the, the, the integrated
00:39:30
ecosystem that NVIDIA has built in, in the recent years.
00:39:34
And I think they just don't know because it's not just about
00:39:37
really powerful chips that are being used as an AI.
00:39:40
It's a complete platform that has now become, in my opinion,
00:39:43
the de facto standard for enterprise AI.
00:39:47
So, you know, at the core of that is CUDA and that's CUDA for
00:39:50
some of you guys that don't know.
00:39:52
And that's a proprietary programming language that, you
00:39:54
know, that basically makes every AIA model, AI model, you know,
00:39:58
natively NVIDIA. So it's, that's what actually
00:40:01
locks NVIDIA into being the processor behind it.
00:40:04
So that lock in effect is that no competitor can replicate it.
00:40:08
And it doesn't end there. So now you look at their, their,
00:40:11
their infrastructure into the AI enterprise.
00:40:14
You know every deployment now becomes a license.
00:40:17
Which adds recurring income. So that's software that actually
00:40:20
monetizes the hardware. And now you've got the new GB
00:40:25
300, which they call the Blackwell chip, and that's
00:40:28
superior performance. And man, it's got a higher ASP
00:40:32
than the previous generation. And also it's got a high focus
00:40:36
on AI acceleration. So I think what's happening in
00:40:39
the back end is even more interesting because you've got
00:40:41
proprietary networking with NV Link and Spectrum X and then
00:40:46
you've got, because of these fundamentals you got, according
00:40:48
to the company's, you know, official presentation, ARR is
00:40:51
already estimated to exceed 8 billion.
00:40:55
So software architecture, licensing, networking, these
00:41:00
aren't accessories. These are things you have to
00:41:02
have if you want to be able to be competitive and all that adds
00:41:06
to the bottom line. But I think I think that's why
00:41:08
you've got these gravity defying margins, George.
00:41:12
That's that's why we have it. But if you look at their, their
00:41:15
margins, what they, they reach 71% further improving it from
00:41:19
68% in the in the previous quarter, right?
00:41:24
I mean they're increased their software margins business.
00:41:26
I mean it's what their company's doing is just, it's
00:41:32
unbelievable. I mean, it's crazy.
00:41:33
But their quarterly report that leaves no room for doubt, right?
00:41:36
So let's talk about that. Nvidia's first quarter of FOI
00:41:39
26, they left no room for doubt or optimistic interpretations.
00:41:43
It was a statement of like operational strength.
00:41:47
They have pricing power, industry dominance.
00:41:50
And like I said, until somebody comes around and comes up with a
00:41:53
maybe a better, more dominant chip, they're just going to keep
00:41:56
being the dominating the industry of it.
00:42:00
It is what it is, right? Somebody's going to be.
00:42:02
There's always somebody who's going to come up with something
00:42:03
better though. In April 25, their quarter
00:42:06
ending, they generated listen to this line.
00:42:08
It's 44 billion in revenue. That's up 69% compared to the
00:42:12
previous year. Is that all?
00:42:15
But they're up 69% from the previous year.
00:42:19
What? That's big I.
00:42:20
Mean big. You know, you'd be, I'm still
00:42:24
surprised there's doubters out there because they have just,
00:42:27
you know, at this point too, they're putting all that, a lot
00:42:29
of that revenue into R&D, which is giving them even a bigger
00:42:32
advantage. You know, how do people play
00:42:34
catch up at this point with this company?
00:42:36
So we'll keep an eye out of it. I just don't think it's as
00:42:38
expensive as everyone thinks. A lot of people say, how much do
00:42:43
you think NVIDIA should really be worth?
00:42:46
You know, you know, we've run the numbers a little bit here
00:42:49
and there. A lot of people are saying that
00:42:51
168 to 175 per share is no big deal.
00:42:55
It's an easy peasy, you know, and if it hits some support
00:42:59
there, the question is, you know, how long before it's 200 a
00:43:02
share? They keep posting numbers like
00:43:04
this. I don't think that's far away.
00:43:06
Let. Me just compare something real
00:43:07
quick. So they're a $4 trillion
00:43:10
company, right? Apple is a 3.2 trillion, NVIDIA
00:43:14
share is 164. Apple right now is their shares
00:43:18
are 212. Yeah.
00:43:21
I mean it's like a no brainer people it.
00:43:24
Seems like it. All right, let's switch gears
00:43:27
here a little bit. Let's talk about, and we've done
00:43:30
this on the show. We told you this many times,
00:43:33
we're going to talk about silver.
00:43:35
You know, we always like to talk about bullion and we have been
00:43:37
talking about the impact of AI and EV trends and why they're
00:43:42
boosting this precious metal. And it's not gold.
00:43:45
We're talking about silver. So, you know, a lot of the
00:43:49
commodities focused investors that watch this show, they're
00:43:52
hoping to ride the trends of AI growth and of course, the EV
00:43:54
technology, like Samsung's new EV technology.
00:43:59
That's why people are very bullish on silver even right
00:44:01
now. I know silver's been kind of
00:44:03
wobbling around. It hasn't been making the big
00:44:05
moves. George, how many times have we
00:44:07
talked about the impact of, you know, EV technology on the price
00:44:11
of silver? More than that can count because
00:44:14
I know you specifically this is one of your strong points.
00:44:18
You're told you brought it up is Samsung's EV battery.
00:44:21
I was just going to ask you, have we got any updates on that?
00:44:24
No, but maybe the next show I'll grab some stuff.
00:44:26
I haven't really looked at what they're doing.
00:44:28
The last thing I saw is they were in talks with several big
00:44:31
car manufacturers. They were in the contract
00:44:33
stages. Did they get those agreements
00:44:34
done? I don't know, but you know, when
00:44:37
you start looking at these modern EV batteries, that's
00:44:39
definitely going to continue to rise.
00:44:40
EV sales aren't going away anytime soon.
00:44:43
I'm not a fan of EVs, but many people are.
00:44:45
So at the end of the day, you know, I, I can't think that that
00:44:48
the demand for silver is going to decrease.
00:44:52
And of course, you know, even in the green energy, you need a lot
00:44:56
of silver for those solar panels and other, the Transformers and
00:44:59
the rest. So, so we've seen silver trading
00:45:02
higher, but a lot of people are saying it's not, you know, to
00:45:05
me, it's not just an investment, it's a trade.
00:45:07
I think the action on silver, you know, you know, basically
00:45:11
you can buy it when it, you know, looks terrible and you can
00:45:13
sell it when it looks great. So you don't have to stay just
00:45:15
in it. You know, you can trade through
00:45:17
ETFs and other things if you want to.
00:45:20
But of course, I think that for me, I always think, is it too
00:45:23
late to buy silver? I think the answer is absolutely
00:45:26
no. I think you have to think about
00:45:27
this. You know, you don't want to
00:45:29
necessarily hold it through a major downturn because that's a
00:45:33
buying time, right? But at the end of the day, is
00:45:35
there going to be a major downturn?
00:45:38
Right now there haven't been any large, really large easy to mind
00:45:42
deposits discovered holding that and saying where the demand is
00:45:46
in on the industry and green energy and of course EV
00:45:49
technology. I can't see where silver is
00:45:52
going to continue to go up. George, what do you think?
00:45:54
I think it's going to continue to go up.
00:45:56
I mean, especially, I mean with the car batteries because like
00:46:00
if you look at the EV cars, I look at them, they're I like
00:46:02
them, they're nice, they're great cars.
00:46:03
What I don't like is if you go on a trip, let's say I'm in, I'm
00:46:09
in North Jersey, I want to drive to Florida, which I've driven
00:46:12
whatever 16 hours, you know, I stop for gas, I don't know, 5
00:46:17
minutes I'm there if that and I'm back on the road.
00:46:20
Not with the EV battery though. I don't.
00:46:23
I don't even know how long it takes to even get a full charge.
00:46:26
Yeah, and how many miles? On the vehicle.
00:46:28
Yeah, how many miles? On the charging station.
00:46:30
That is and that's, that's one of the issues at hand.
00:46:33
It's not like I, I mean take trips, but you know, it's
00:46:35
something you got to keep in in your mind.
00:46:38
Listen, I, I I agree with you 100%, but they.
00:46:40
Do make like you look at some of the cars, they do make them
00:46:44
stylish, I tell you. No doubts, one of the ones
00:46:46
coming out of China are unbelievable.
00:46:48
When I was in Florida, I was actually with Kirk and and the
00:46:51
boys and we're waiting for a table for the restaurant and
00:46:54
we're walking around and I never seen them.
00:46:56
And also there was this electric car dealership, Genesis.
00:46:59
They're a nice cause. Oh yeah, those are nice.
00:47:01
What and you got and even the the financing pricing is not bad
00:47:05
at all A really nice cause yeah damn and they're coming out with
00:47:11
they're like SUV nice. We told the guy said Nah, Kirk
00:47:15
needs an SUV. He's got all these kids.
00:47:17
Well, we're coming out with one too and they said, but they're
00:47:20
really nice. But that's, you know, that's the
00:47:21
thing. So if they come out with the
00:47:24
battery that's going to you get more mileage to it and or faster
00:47:29
charging. Yeah, with the silver, Samsung
00:47:32
just recently increases the distance and the charging time
00:47:35
is super fast. So just imagine what's going to
00:47:38
happen. I think a full charge is 10
00:47:39
minutes. Interesting, so the price of
00:47:43
silver will just go? Yeah, you need a kilo of silver
00:47:49
for the Samsung technology. ETV requires a kilo of silver.
00:47:53
So that's a big number. All right, let's talk about, you
00:47:56
know, the, of course, you know about the Wall Street, you know,
00:47:57
there was a big rally, you've seen it.
00:48:00
But the Asian stocks tagged right along, man.
00:48:03
They are, they are primed, primed and they are primed to
00:48:06
advance further. They're already advancing today.
00:48:09
Again, about this. A lot of people are bullish
00:48:11
about what's going to happen. Of course, the equity index
00:48:13
futures for Japan, Australia, and Hong Kong all gained.
00:48:17
They took cues from, of course, that three 0.3% rise from the
00:48:21
S&P 500. And of course, the US benchmark
00:48:24
is up 6.8% this year, having a bunch of erased losses spurred
00:48:29
by President Trump's reciprocal tariff announcement.
00:48:32
They're already making money with the tariffs.
00:48:34
There's more coming. He's in a fight with Brazil
00:48:37
right now. Looks like Lulu and him are
00:48:39
going at it. Not Couldn't be more well
00:48:42
deserved. I wish it was Bolson Arrow and
00:48:44
not Lulu. And there, of course, we'd
00:48:45
probably be down to the game and a tariff agreement's already
00:48:48
signed, but that's not how it goes.
00:48:50
Do you think actually Brazil's going to be able to last?
00:48:53
They want to do a tariff fight with us.
00:48:55
No. No way forgot about it.
00:48:57
They didn't go kick rocks. It's just he's showboating for
00:49:00
his people, like, you know, to show like he's got strength and
00:49:02
stuff. But, you know, even I think
00:49:04
Trump saying that tariffs are going to rise in Japan or
00:49:08
something right now, too. Yeah, they're going.
00:49:11
Well, there's a lot of upbeat forecasts.
00:49:13
You know, Delta had a great forecast.
00:49:15
Their stock took a jump. Tesla, they're going to expand
00:49:19
their robo taxi service. California and Arizona, NVIDIA,
00:49:24
we know we already talked about that and how great things are
00:49:26
for them. But I tell you, it looks like
00:49:30
Wang is going to be meeting with President Trump before his
00:49:33
planned trip to China. So that's interesting.
00:49:37
Now, I think what's really going on here is you're seeing this
00:49:38
resilience of the US consumer and in turn, U.S. companies.
00:49:42
That's definitely a big hero. And that's why I think the, you
00:49:45
know, the Asian markets, including some of the other
00:49:47
ones, not just Japan, but you're seeing great growth throughout
00:49:51
Hong Kong. Authorities intervened, you
00:49:53
know, for the fourth time in two weeks to prevent the city's
00:49:54
currency from weakening beyond its official trading ban.
00:49:58
China's having some issues. I don't know if they're going to
00:50:00
get full recovery. Of course, you know, there's
00:50:01
still trade issues going on there with the United States
00:50:05
that isn't all resolved yet. But, you know, look, policy
00:50:08
makers, borrowing costs, you know, they're steady.
00:50:11
They haven't gone down. I wish, I wish what would really
00:50:14
boost the markets if as if Powell, this shithead would go
00:50:17
ahead and lower interest rates. But I don't know if he's going
00:50:20
to do that. But he did get attacked today.
00:50:23
Trump's OMB director George, and you know him, you know who he
00:50:25
is, It's Russell Vaught. He grossly, he said that Powell
00:50:29
has gross mismanaged the Fed and of course White House pressure
00:50:34
is building because of it. Interesting.
00:50:39
I'm sorry, I was just taking care of some little glitch here.
00:50:42
No, no problem. But, you know, grossly
00:50:43
mismanaged the Fed is a big statement.
00:50:47
I've talked about how we need to nationalize it.
00:50:49
I don't want it to be a private institution controlling our
00:50:51
money. Yeah.
00:50:52
And Vaught, you got to remember he's the director of the United
00:50:54
States Office of Management and Budget, and his statement is as
00:50:58
follows. The president is extremely
00:50:59
troubled by your management of the Federal Reserve System.
00:51:02
Rd. Vaught, director of the Office
00:51:04
Management of Budget. Instead of attempting to write
00:51:07
the Fed's fiscal shift, you have plowed ahead with an an
00:51:11
ostentatious overhaul of your Washington, DC headquarters.
00:51:16
Well, he he his testimony pals what last month about the
00:51:19
renovations before Senate committee, right?
00:51:22
And Vaught said that he raised questions about the project's
00:51:25
compliance. I mean called cost overruns of
00:51:29
more than 700. Million, 700 million in cost
00:51:32
overruns. I you know, and again, I wonder,
00:51:34
is the US taxpayer paying for it?
00:51:36
Is the US taxpayer paying for that?
00:51:38
Rooftop Terrance gardens, VIP private dining rooms and
00:51:42
elevators, water features and marble.
00:51:44
Wow. Very.
00:51:44
Nice, they need this for. I don't know.
00:51:47
They need a rooftop garden, so they go up there and party, you
00:51:49
know, with all the money they're stealing from the United States
00:51:51
government and the American people.
00:51:54
I mean once again, 36 trillion debt and he wants rooftop
00:51:59
gardens and VIP private dining. And marble.
00:52:02
Yeah, I mean, listen, but Trump's no, no, no Angel either.
00:52:07
He he's also now sending wants to fast track these weapons to
00:52:12
Ukraine. Yeah.
00:52:14
We don't got money to do it bro. How about we pay off our debt?
00:52:18
Why? We got to keep helping
00:52:20
everybody. You know, you know what I think
00:52:23
focus on home, make America great again.
00:52:25
Let's do that. At the end of the day, it is
00:52:27
what it is, George. But I think Vaught is asking the
00:52:30
right questions. But of course, I'd like to, you
00:52:32
know, of course, they've had a banner year of the Fed ripping
00:52:35
off the country and have been for decades.
00:52:37
So, you know, my opinion is nationalize the feds, seize the
00:52:41
assets of all the banks and families that own it, and let's
00:52:44
get back to work. That way we control our money,
00:52:46
we control our own debt. We can get to do exactly what we
00:52:48
need to do. Of course, you know what that
00:52:50
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