THE BIG MIG SHOW
DECEMBER 13, 2024
EPISODE 440– 7PM
Gold and Silver Markets React to U.S. Inflation Data and Federal Reserve Speculations
Spot gold settled at $2,717.80 per ounce, following an earlier peak of $2,725.79.
Silver prices increased by 0.8%, reaching $32.15 per ounce.
BRICS Nations Advance De-Dollarization Efforts Amid U.S. Tariff Threats
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00:00:00
I got to say the little holiday commercial there for Genesis
00:00:03
Gold made me smile. I'm pumped up, had a little shot
00:00:06
of creatine, had my green drink, got my caffeine going.
00:00:09
George just had a little tough morning, that's for sure.
00:00:11
But of course, welcome back to the big big show global finance
00:00:14
forum powered by Genesis Gold Group with your host Jacob Diaz,
00:00:17
Lance Miliaccio and George Ballantine.
00:00:20
You know, this show is all about bullion borders.
00:00:22
We're your go to source for cutting edge insights from the
00:00:24
world of finance. And of course, Genesis Gold
00:00:27
Group believes in empowering faith driven stewardship.
00:00:30
Gold and silver are integral part of a balanced portfolio.
00:00:33
Protecting your finances with precious metals has never been
00:00:36
more crucial or any easier with Genesis Gold Group.
00:00:39
And of course, join us as we explore the forces shaping
00:00:41
global markets, the power of precious metals, and the
00:00:44
dynamics that influence economies across borders.
00:00:46
This is your weekly financial roundup.
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Jacob Diaz, man, what do you think?
00:00:51
What do you think of George's holiday intro he got?
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He had to throw in the little holiday vibe there, right?
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No, it kind of made me want to boogie a little bit.
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It felt real nice. George, how you doing man?
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I know you had a little Internet glitch this morning.
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You getting things ironed out good.
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Morning, bro. It's this been from last night
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since doing the show? Yeah, I know you've been.
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Stressing you were a little stressed last night.
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We had a great show last night, really interesting.
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We had a guy on that I think is the expert on a guy named Paul
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LaRue. And if you know who Paul LaRue
00:01:18
is, he is supposed to be well, and some people say he is, some
00:01:22
people say he isn't, but he is the most likely candidate to be
00:01:25
Satoshi Nakamoto. So, yeah, with that, with the
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Bitcoin wallet with $111 billion or so, maybe 112 or 13 billion
00:01:34
this morning. I don't know where Bitcoin's at.
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That wallet's been missing since 2012.
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So it's pretty interesting. We can talk a little bit more
00:01:42
about it. But before we fire up, I want to
00:01:43
just talk about the Genesis Gold Group 62.2g prepper bar
00:01:49
perforated, you know, move it over here for the camera.
00:01:51
Obviously perforated and easily broken down into your choice of
00:01:53
three different denominations fits a multitude of needs.
00:01:56
Whether it be for asset protection from inflation,
00:01:58
economic turmoil, or its unique utility for barter and trade.
00:02:02
The Prepper Bar makes a perfect gift and with that little
00:02:05
holiday vibe, they've got both gold and silver in stock.
00:02:08
You don't want to wait because they are running low.
00:02:10
You want to get over there and order right away at
00:02:12
thebigmigbar.com. Minted and mined here in the US,
00:02:16
so no concerns about any of that counterfeit gold and silver
00:02:19
that's been coming out of China or anywhere else.
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Great opportunity. You can see it so thin.
00:02:23
This isn't a little plastic case, so it looks a little
00:02:25
thicker, but it'll fit right in your wallet.
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So it's a great way to have a backup plan just in case your
00:02:31
credit cards or US currency doesn't work.
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You never know with what bricks or what's going on with our
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economy. You can have this with you all
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the time. It's a great one to give to your
00:02:38
loved ones, your grandchildren. Super great stocking stuffer.
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George has been working the Genesis Gold guys for a Gold 1.
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I don't know if it's going to happen.
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I don't know if he's been good enough.
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You never know. But of course, get a hold of
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these thebigmigbar.com. Head over there.
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Now that the QR codes on the screen, George does the tech.
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He makes it easy for you. Take a snapshot, save it.
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I'm telling you, your grandkids, your children, anybody would
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like to have a little one of these babies jammed in that
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stocking. Oh, and there's the gold.
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Of course, Jacob has to always rub it in with the gold one.
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He's also got that kilo bar floating around that day.
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One of these days, that's. It I'm taking one of these
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intro. That's it.
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One of these days I might have to just slide through that
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office and see if I can snatch that kilo.
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All right, so listen. Desk drawer.
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I'll have you now. What can you say that again?
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I said it's a heavily secured drawer in this desk.
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I'll get it, trust me. It's, it's not, it's, it's the
00:03:34
high skiff desk drawer. You can't get into it.
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It's got it's got a a bunch of a Geo fencing and of course alarm
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systems. Before we go any further, how is
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Jonathan doing? And Jonathan, if you're
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listening to my prayers, our prayers to your continued
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recovery on your back, I'm sorry Jacob did that to you.
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Whatever. He's doing a lot better.
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I just got off the phone with him.
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He's, I think he said he was about 60% feeling, feeling
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better. But it's, you know, it's a
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recovery process. So he'll be, he'll be back on
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his feet. I was with him on Tuesday and
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it's looking, it's looking good. He'll, he'll be, he'll be back,
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back to 100. Yeah, that's great that you
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didn't suplex him over a bonus or something, did you?
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Is that what happened to his back?
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Wasn't anything like that. I Oh, no.
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We. Had to stop wrestling a couple
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years back. Actually I.
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Just wanted to make sure. I know he's missing a witty
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banner with me, so you know he's.
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Not Yeah. Well, listen, we're we're happy.
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He's doing well. I was concerned the other day
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and I hadn't heard anything. I got a little concerned.
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That's great here. Great to share with the
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audience. We asked the audience over on
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the other show. It's on our regular show.
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And rumble the put some prayers out.
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George, I'm sorry, what? Scared of me?
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He doesn't want to come around. He needs to take a little break.
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He doesn't, you know, he doesn't know how to react with the gold
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bar and the witty banner. So just an excuse, right
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Jonathan? Yeah, I think he just, I think
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he knew that with the T-shirt that you have on today, there
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was nothing he could say about it, right?
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That's right. Baby, that's right.
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All right so well, let's dig in lots going on.
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You know I want to start the show like we usually do.
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We always want to talk about gold and silver.
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We have an expert in the house like you Jacob lots.
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The markets are reacting from the US inflation data.
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I don't know where we sit today the the spot price I'm calling
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out right now is 2717 eighty per oz.
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It hit a peak of 2007, 2579. What do you, I don't know where
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we sitting today because I know you've got that up on those
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screens all around your office. Yeah, I, I think it's just shy
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of 2700 right now. You know, like any time that
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you're thinking about buying gold and silver and this is a
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recommendation we always make to any of our clients or any
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seasoned investor is is you're not buying the price today to
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sell it tomorrow. It's certainly not something
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you'll be day trading or anything like that.
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So we tend to try to, you know, stay out of the nitty gritty of
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looking at it, what it's doing today, what it's doing tomorrow
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and keep your eyes on the horizon.
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Where will it be three, 5-10 years from now, especially when
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folks are considering diversifying with the portfolio
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for their retirement IR as four O 1 KS.
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You know, for a lot of people that might still be a couple
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years away, you know, and, and JP Morgan actually just released
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their predictions last week and they've actually been the single
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most accurate institution at predicting gold prices year over
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year for the last three years. And their price target for gold
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was over 3000. Their price target for silver
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was $38 and change. So you know, like I said,
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regardless of of of the price today, the price yesterday, it's
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important that we keep our eyes on the horizon in the future is
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certainly bright. Yeah, I think it's interesting,
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you know, for everybody out there.
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I don't know if they people caught this, and I'm sure you
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did, Jacob, if you saw that. Naive Buchuli.
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I think it's just pronounced for Buchelli, if that's how you
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pronounce. I'm not sure.
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Sometimes I screw up names. Of course, mine's difficult
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enough, but they just announced they found a reserve in the
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ground of $3 trillion in gold. Where?
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I don't know if you caught that news.
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Yeah, I saw that you hear about this once every couple years, if
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not more often when you're in the gold business.
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I believe that it needs to be verified.
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And if it will, if it is verified, you know, we'll see
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what the impact is on the market.
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But whenever it's talking about some massive gold reserve that's
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that's magically found after years of trying, I tend to be a
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little bit skeptical. But I'll believe it when I see
00:07:18
it. Well, the demand's so high that
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I think it could probably only benefit the market in in its own
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way. Of course, it takes years and
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years and years and years to get the mining operations set up and
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get that out of the ground. Just the sampling alone can take
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you, you know, 3-4, five years to get the sampling incorrectly
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decide how you're going to mine that.
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So I know that's complicated, but I want.
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To add something, Hold on. Yeah.
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The one thing if you look at throughout history from since
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they've been trading with gold, even silver, you can never go
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wrong with having it, investing it because prices may go up and
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down, things may tank, you may lose out completely on stocks
00:07:54
this and that. But with gold and silver, you
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have never lost out. No one's ever lost out investing
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in it. So I mean how?
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How can you go wrong? Yeah, when you have an asset
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class that's up, you know, 5-6 hundred percent over the last 20
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years and all you had to do was buy something and forget about
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it, you know, it's really pretty tough to make an argument
00:08:14
against. And a lot of times I, I tell
00:08:16
folks, especially those who haven't sort of waded into the
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waters of gold and silver before, you don't, you don't buy
00:08:22
the price of gold. You're not buying it because
00:08:25
it's 2650 or 2720. You're buying the, the security
00:08:29
and the Peace of Mind for your portfolio and for your family.
00:08:33
That's ultimately the value of what we do and what we offer,
00:08:36
and it's the value of gold and silver.
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Hey Jacob, break me off a piece of that prepper bar.
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The gold one, please. George, he can't do a show
00:08:49
without jumping in on that. But listen, we had a nice, we
00:08:51
had a little a little uptick on Silver 3215.
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I don't know where it's at today.
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I also grabbed the nine month chart showing that resistance
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level that it's gone up against a couple of times.
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I think at some point we're going to see that breakthrough.
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What are your thoughts on the chart and where do you think
00:09:06
we're heading here, Jacob, at least as far as Silver in the
00:09:09
near term. We know about the Samsung
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technology. We know about, I saw some high
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orders because of military demand throughout Asia.
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There was a big uptick in silver ordering for them.
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And I assume it's because the same uses we see here for a
00:09:24
military technology. They're thinking themselves.
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Hopefully it's not because they're all planning for World
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War Three. But at the end of the day, that
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resistance level, we've almost broke through a couple of Times
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Now, huh? Yeah.
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It sure looks that way and I think we're we're poised for a
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big breakout. The gold silver ratio is still
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favouring silver as being undervalued has been for the
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last couple years. To me, it's not a matter of if
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silver breaks out, it's just a matter of when.
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And I think folks that are getting in now at a price in the
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low 30 twos, I would, I would be shocked if we didn't see it hit
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3536 thirty $8 in the next 6 to 8 months.
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And beyond that, I mean, you know, I've said it before.
00:10:04
I think we're looking at three figures silver probably by the
00:10:07
end of the decade, maybe early next.
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Yeah, there, there's no doubt and a lot of people are on your
00:10:13
side on that. There was a lot of predictions
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much higher than that. George, throw up that intraday
00:10:17
because it kind of shows the pattern where it keeps trying
00:10:19
that resistance, it'll try to punch through and kind of pulls
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back. Usually that happens.
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You usually see a resistance breakthrough after the third
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time it hits. So I don't know if that's
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something we're going to see or not.
00:10:30
There's an anticipation, of course, in in both gold and
00:10:33
silver of the Federal Reserve interest rate cut, a 98.6%
00:10:38
likelihood of a 25 basis point reduction.
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The rising consumer prices in November, you know, marking a
00:10:45
higher increase in the last seven months.
00:10:47
What and of course, the geopolitical tensions.
00:10:49
What do you think some of that? Any thoughts on the Fed lowering
00:10:53
rates? Yeah.
00:10:56
You know, obviously it's going to you if if they continue to
00:11:02
lower rates, you know, it's going to impact mortgages and,
00:11:05
and things like that probably cool off.
00:11:08
You know, the, the OR excuse me, impact the cooling off labor
00:11:11
market. Is it enough is the question.
00:11:15
You know, a quarter point when they're saying this is probably
00:11:17
going to be the last one for a while.
00:11:19
It seems like the Fed is posturing to just sort of wait
00:11:22
and see, right? Which is, which is, I'm not
00:11:25
saying is the worst approach, but the reality is as soon as
00:11:28
Trump takes office here, you know what's getting a shorter
00:11:32
and shorter timeline? We know what his plans are,
00:11:35
right, tariffs across the board. And, you know, we're talking
00:11:39
about some big economies getting involved here.
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And what's not going to happen is these folks who have been
00:11:44
trying to skirt the rules or screw over the American people
00:11:48
or screw over the country, they're not going to take that
00:11:51
necessarily lying down, right? And So what might come of that,
00:11:54
you might know, we've seen it before, you know, trade war,
00:11:58
which leads to hyperinflation, all of which, you know, impact
00:12:02
the pocketbook of the people in the American Society.
00:12:05
And you know, a great way to hedge against that, like I've
00:12:07
always said, is, is gold and silver for for any outcome
00:12:10
really. Yeah, there's no, there's no
00:12:12
doubt. I think all of that when you
00:12:15
when you look at the market outlook, a lot of analysts are
00:12:18
looking at the overall market divisions and they're they're
00:12:20
very supportive of gold. Of course, they're looking at
00:12:23
the US producer price index data and the European Central Bank's
00:12:27
upcoming meeting. I think those both look positive
00:12:30
for gold and of course silver's performance.
00:12:32
One of the things that's really the, the demand is had a
00:12:35
dramatic increase is in solar sector.
00:12:37
I looked at the purchasing in the solar sector and it's way
00:12:41
up. And of course, you know,
00:12:43
investors are looking at as, as a store of value.
00:12:46
I think there's so many things that are potentially impacting a
00:12:49
rise in silver that I, I think it's just inevitable in my
00:12:52
opinion. Of course, this isn't financial
00:12:54
advice. We always want you to check with
00:12:55
your own financial advisors or of course, call the guys at
00:12:58
Genesis Gold Group, get a, get a call over to them and they'll
00:13:00
give you the, the straight, the straight scoop on whatever's
00:13:03
going on. I, I think we'll have to just
00:13:05
keep an eye on and see what happens.
00:13:07
But of course, what's really been in the news a lot.
00:13:10
We see more and more brick stuff and just the BRICS nations
00:13:14
advance to de dollarization efforts amid US tariff threats.
00:13:18
They continue to push, do they not?
00:13:20
George, I don't know if you've been following it.
00:13:22
I don't know if you have. But Jacob, what are your
00:13:23
thoughts on the BRICS alliance and kind of what's coming up
00:13:26
right now? Yeah.
00:13:28
I mean, when you have some of the largest economies on the on
00:13:31
the globe establishing alternative payment systems to
00:13:34
try to circumvent the use of the dollar.
00:13:37
They've really doubled down on what we've been fearing or we've
00:13:40
known what was happening but was a cause for concern for for
00:13:43
years. And it's that they want to
00:13:45
circumvent the United States dollar to try to take away the
00:13:48
power of the United States on a global scale, right?
00:13:51
And, and who knows what that'll look like ultimately.
00:13:53
There's been talk, obviously, of this currency ultimately being
00:13:55
backed by gold. Ultimately, there's a lot of
00:13:58
really interesting developments happening in the BRICS nations.
00:14:01
They're talking about adding countries like Saudi Arabia, the
00:14:04
UAE, Indonesia into the framework, which really puts it
00:14:08
on on the mainstage here. Yeah, for sure.
00:14:14
And I wonder, you know, my thought is he came out with that
00:14:17
tariff comment. I, I, I know it was probably
00:14:20
trying to slow things down, but I almost feel like there's this
00:14:23
trend of the BRICS nations that they feel retaliatory at this
00:14:26
point. So I don't know if that was a
00:14:28
good call the way he came out of the gate, not that I don't think
00:14:31
it maybe has to be done. I don't like the the soft sell
00:14:35
conversation he had with the president of Mexico.
00:14:38
I think he should have hard lined that conversation because
00:14:41
we're still having a major problem with narcotics and of
00:14:44
course the cartels here in the United States and transnational
00:14:46
gangs. We've had major increases in
00:14:49
violent crime and crime linked to them all across the nation.
00:14:52
So I, I feel like he kind of candied that with her.
00:14:55
But then he comes out with the with the tariff shot for
00:14:57
everything else. And I wonder what those tariffs
00:14:59
are going to do. In some areas, I could think
00:15:02
it's probably beneficial, but in other areas, I think about the
00:15:04
small business person that's been making money on goods that
00:15:07
are coming out of the country. What do you think of that impact
00:15:09
looks like? Any thoughts?
00:15:12
Yeah. I think, you know, in the medium
00:15:15
long term, I think it's absolutely the right move.
00:15:18
I think it'll help to re establish the fact that, you
00:15:21
know, it's a new era of the United States and we're not to
00:15:24
be, not to be messed with. We're no longer going to be
00:15:26
pushovers. Like the country's been looking
00:15:28
at us for four. The world's been looking at us
00:15:30
for four years thinking they can just take our lunch money,
00:15:33
right? That's the reality of it.
00:15:35
Because we had, you know, Sleepy Joe in office.
00:15:38
But now that Trump will be back, I, I, I believe in his vision
00:15:41
100%. I think in the long run, it'll
00:15:44
be the best thing for this country to re establish some
00:15:46
dominance and show us, show the world how powerful the country
00:15:50
really can be. I think though, in the short
00:15:53
term, we might feel some pain. A trade war, generally speaking,
00:15:57
it doesn't do a lot of good for for the American people in terms
00:16:01
of, you know, it hits them in the pocketbook.
00:16:03
Like I said earlier, short term pain, long term gain.
00:16:08
And who knows that pain, that pain could be a couple years.
00:16:10
It could last, you know, his presidency.
00:16:12
And like I've always said, I believe we got the right man for
00:16:15
the job. I think it was a blessing that
00:16:16
that he won the election. I'm starting to think that
00:16:19
things may be played out, you know, the way they've been
00:16:21
supposed to, the way that God intended over the last, you
00:16:24
know, 12 years. And, and now we're right back on
00:16:27
the right track. But, you know, you'll hear me
00:16:30
and Jonathan say this all the time.
00:16:31
It takes a cruise ship 5 miles to make AU turn right.
00:16:35
There's been a lot of, you know, bad momentum thanks to this last
00:16:38
administration. And I think we got the right
00:16:40
man, you know, behind the helm. But it's just going to be about
00:16:43
how much he can accomplish in four short years.
00:16:46
Let me rephrase. Let me help you out.
00:16:49
I know we have the right man in there, but I totally agree with
00:16:52
you. It's going to take time.
00:16:53
Nothing's going to happen overnight.
00:16:57
I believe we have less than two years to make a lot of
00:17:00
Corrections because you don't know what's going to happen in
00:17:02
the next Congress after that. You know who, who has control.
00:17:06
But while they have control that they have to be, there's no time
00:17:09
to mess around. And let's face it, Trump loves
00:17:13
gold. We all know that Trump loves
00:17:15
money, loves good business. I think I'll turn around.
00:17:18
It's just a matter of time wise. But you know, recently, even I
00:17:23
think today, like all the big tech CE OS are they're all going
00:17:27
to see him from the Google CEO to Amazon, Jeff Bezos, they're
00:17:32
all going and and they're all like they're ready to get on
00:17:34
board. You know, they seen the
00:17:36
difference from the first four years to now.
00:17:38
And you know, they seen a lot of the, you know, the stuff in the
00:17:42
media. But reality is if Trump didn't
00:17:45
won, they wouldn't be approaching him.
00:17:47
Let's just face it, it's because he won.
00:17:49
But you. Know it's tricky for me though,
00:17:51
right? I'm not a fan of some of these
00:17:53
guys because they did the exact opposite.
00:17:56
They went out of their way to try to make sure Trump didn't
00:17:58
get elected. You look at Zuckerberg as an
00:18:00
example, spent $460 million in Zuckerbucks to, to really
00:18:05
interfere in our elections. And then he comes up with what
00:18:08
I'm going to call a kiss ass $1 for the inauguration
00:18:11
donation. You know, I don't know, I'm
00:18:15
uncomfortable with these guys that all of a sudden flip the
00:18:17
script because now they're worried about the impact.
00:18:19
Because let's face it, if anybody, if any of the three of
00:18:22
us committed any of that election interference like
00:18:25
Zuckerberg did, we'd probably be facing criminal charges from the
00:18:29
the DOJ. Because again, you're starting
00:18:31
to look at some numbers there. When you look at 400 and some
00:18:33
odd million, if that's not election interference, I don't
00:18:36
know what is. What do you think about these
00:18:38
executives coming to deflect the knee, you know, take the knee to
00:18:41
Trump at this point? You think it's fear or do you
00:18:44
think it's, you know, good intent?
00:18:46
What do you think, Jacob? You know, I can't.
00:18:50
I sometimes say it's like if you're a kid and you're
00:18:53
misbehaving with your mom during the day and you know, Dad's
00:18:56
coming home from work and he's, he might kick your ass.
00:18:58
Pardon my French, but you know, they've, they've been acting
00:19:04
however they wanted with 0 consequence because the
00:19:06
leadership in this country was an embarrassing level of weak.
00:19:09
And now they know that there's no more nonsense, right?
00:19:13
When when you have Trump coming back, it's going to be a
00:19:16
different Trump, I believe, than what we saw in his first four
00:19:19
years. He understands how these things
00:19:21
work. He's built the team around him.
00:19:23
I believe he's got the right team around him to do things the
00:19:27
right way. And like George said, see how
00:19:28
much he can get done in two years.
00:19:30
But to answer your question, you know, I, I think they realize
00:19:33
these tech CEOs that they have to operate inside the bounds of,
00:19:38
of the rules that Trump is going to set.
00:19:40
Otherwise, you know, it's basically, it's better to be
00:19:43
close to him out of necessity, you know, than than to be left
00:19:47
by the wayside. And I think they just realize
00:19:49
that it's a necessity. And you know, they've they've
00:19:50
come to kiss the ring now the. Thing is, Lance, I'm going to,
00:19:53
I'm going to say. So the thing now is how does
00:19:57
Trump work it where they don't do this again?
00:20:01
And then in four years from now to another candidate or other
00:20:05
people. That's where really the the big
00:20:09
issue lies is how to stop them from doing this again.
00:20:12
Because let's face it, Google is still suppressing anything they
00:20:16
want. If they don't like something, if
00:20:18
it's a candidate or if it's a product or something you say
00:20:21
don't, don't. The algorithms will take in.
00:20:24
They're still doing that. So the question is, how did he?
00:20:28
Stop them from doing this and from future use.
00:20:30
That's the thing, I think. Well, it's tricky.
00:20:34
And I mean, for me, I think accountability and consequences
00:20:37
are part of it. I don't know if any more laws,
00:20:39
the laws are already in place that you need to enforce any
00:20:41
portion of this. But you can't.
00:20:43
Just because somebody is a global elite with lots of money,
00:20:46
you can't allow them to violate the laws of the United States.
00:20:49
And I think they have to face the consequences for those
00:20:51
action because consequences are the deterrent.
00:20:54
If you feel like you can get away with something over and
00:20:56
over and over again and there's no consequences, just like a
00:20:59
child would, you're just going to continue to do it.
00:21:01
But if the consequences is dad throwing you over his lap for a
00:21:04
hard spanking or, or, you know, losing your cell phone or
00:21:08
anything else they do to these kids nowadays, you know, and
00:21:10
when I grew up, it was a you might get a beating.
00:21:13
You know, at the end of the day, I think these guys need some
00:21:15
beatings. That's my own opinion.
00:21:17
That's not necessarily the opinion of the show, but that's
00:21:19
my opinion because at the end of the day, if you continue to
00:21:21
allow them, you know, give them an inch, they take a mile.
00:21:23
That saying holds very true in this situation.
00:21:26
But I think let's get back to the topic here at hand.
00:21:28
I didn't mean to digress too much.
00:21:30
The key developments that I see on the progress on the BRICS
00:21:32
payment infrastructure with I think are important to discuss
00:21:35
that the Russia and China have accelerated since that tariff
00:21:38
comment. The development of the M Bridge
00:21:40
project, which for anybody that doesn't know, that's the
00:21:42
blockchain based platform for seamless cross-border
00:21:45
transactions using digital currencies, high speed, low fee.
00:21:50
And of course, India's proposed integration, the unified
00:21:54
payments interface, UPI with similar systems and other BRICS
00:21:56
nations to streamline settlements and all this stuff
00:21:59
is running behind the scenes. So for anybody out there that
00:22:01
thinks they're going to continue to operate in cash or the SWIFT
00:22:04
system is going to stay in place, I can tell you that all
00:22:08
three of those countries have deals with XRP and that that
00:22:12
system that XR PS got planned to put in place.
00:22:15
There are there are more than 3000 contracts because of the
00:22:19
SEC filing that XRP has never announced.
00:22:22
They have not been able to promote them.
00:22:24
They have not been able to do them in press releases.
00:22:26
And many of those contracts are with Russia, China and India.
00:22:30
And that integration of that transition from SWIFT to the
00:22:34
blockchain technology. What do you think that you, what
00:22:36
do you see coming up on this? So any thoughts on this Jacob?
00:22:41
Well, it's definitely a trend of, you know, embracing the
00:22:44
future, right when you're talking about countries adopting
00:22:47
a blockchain based currency, you know, in in concept, it's
00:22:53
actually kind of exciting, right, to to see the advancement
00:22:56
of currency in the way that it could be going.
00:22:59
But then you look at intent, right?
00:23:01
What is the goal of this? And ultimately, they might say
00:23:04
it's not to undermine the dollar, but if you pay
00:23:07
attention, you can see it's clear as day, right?
00:23:09
The goal is to end with this project, dollar dominance across
00:23:13
the globe, right? For whatever reason, I'm sure
00:23:15
any country might have a variety of reasons not to like the
00:23:18
United States, right? We haven't been that popular
00:23:20
over the years. So, you know, so I think, I
00:23:24
think if you can separate how exciting it is to actually see
00:23:27
the adoption of newer technologies and use it as
00:23:29
currency and maybe, you know, in the future something to buck
00:23:33
this broken, corrupt banking system.
00:23:35
To me, that's exciting. However, the intent behind the
00:23:38
BRICS nations is obviously not that it's a direct attack on the
00:23:42
dollar and its dominance in the United States.
00:23:44
So I just hope that that Trump steps up to the plate day one
00:23:48
and and like I, like I said, really tries to re establish the
00:23:51
dominance, dominance of this country.
00:23:54
Yeah, there's no doubt he's got to do that.
00:23:56
George, what do you think? XRP making huge inroads with
00:24:00
lots of countries, but of course, they're also integrated
00:24:02
into the BRICS plan. What do you think?
00:24:05
Is XRP here to stay? Oh, most definitely.
00:24:08
Just, I mean, we're they're just getting started.
00:24:11
Who was it? Was it Brazil?
00:24:13
That's no Japan. That said, in 2025, XRP is going
00:24:18
to be integrating all their systems.
00:24:20
So that's just Japan. Japan.
00:24:22
But as far as bricks, I don't know if I think Trump's going to
00:24:27
be able to handle them. He'll, he'll figure that out.
00:24:30
He already said he'll do tariffs or sanctions.
00:24:33
I don't know something he'll he'll figure it out.
00:24:35
We'll get that done. I'm not worried about it, but
00:24:36
XRP is definitely here to stay. They're going to probably take
00:24:41
off, but we also have all those contracts that are still not
00:24:45
being talked. Well, they're being talked
00:24:46
about, but they haven't gone fully functional yet.
00:24:51
No, they haven't gone public because that SEC ruling even
00:24:54
though they're in negotiations right now.
00:24:56
I almost wonder if XRP and their attorneys are trying to drag the
00:25:00
time clock out because we know Gary the Weasel Gensler is out
00:25:03
of there very soon. We're going to be done with him.
00:25:06
If I was Garlin House and them, I would try to push it off until
00:25:10
Trump's in in in DC because you never know, they might just walk
00:25:14
away from the entire suit right now.
00:25:15
They want so much I I forget what the dollar amount is
00:25:17
they've gotten down to. It's not very much money for XRP
00:25:20
because XRP is obviously sitting in tons and tons and tons of
00:25:23
liquidity. And of course R, the RLUSD is in
00:25:27
place now for XRP that's getting expanded on, which is their US
00:25:31
backed stable coin. And the, so the interface we're
00:25:33
seeing here is big. But for BRICS, what I think is a
00:25:36
little bit you have to pay attention to is they're still in
00:25:39
discussions with a lot of countries, these additional
00:25:41
nations like Saudi Arabia, you know, United Arab Emirates,
00:25:45
Indonesia, that could really boost their economic clout
00:25:48
'cause we're talking about a powerhouse of money in those
00:25:51
countries, aren't we? Yeah, absolutely.
00:25:55
And it's, and it's, I think to an extent some of its posturing,
00:25:59
right when you when you see the BRICS summit photograph and and
00:26:03
they're showing that they're trying to show, you know, a show
00:26:06
of strength more than anything. And the more countries,
00:26:10
especially larger economies like Saudi Arabia and UAE, massive,
00:26:14
massive economies, tons of money, you know, they're they're
00:26:17
trying to show that that they're here to stay in that Trump
00:26:20
Trump's a businessman, right? And at the end of the day, like
00:26:23
George, I believe that he'll be able to work something out
00:26:26
that's hopefully beneficial for everyone and sort of puts this
00:26:29
issue more or less to bed. That's what I believe will
00:26:32
happen. I hope you can get it done soon.
00:26:34
But they are showing that they there's a lot of momentum behind
00:26:37
the the BRICS, the BRICS movement for sure.
00:26:39
Yeah, And of course, the economic and political reactions
00:26:42
from many of the countries to Trump's tariff.
00:26:46
And of course, I don't know that he really wants to do those
00:26:48
tariffs, but he's trying to, I think, shoot, shoot a shot
00:26:51
across the bow to slow things down.
00:26:52
But in Russia, those senior Kremlin officials, we saw that
00:26:56
they've reaffirmed their commitment to de dollarization
00:26:59
and they're one of the first countries that really threw out
00:27:01
the Federal Reserve banking cartel, which you got to give
00:27:04
him credit for that. And I believe that's why Putin's
00:27:06
been attacked. He's pro Russia, he's a Russia,
00:27:09
you know, you know, make Russia great again.
00:27:11
I can't blame him for that, that, you know, that's what
00:27:13
anybody in charge of the country.
00:27:15
Same thing in India. They've emphasized that the
00:27:17
bricks and issues are not targeted undermine the dollar,
00:27:20
but they they're trying to create resilience in global
00:27:22
trade is what they allege. South Africa's got the same
00:27:25
position. So, you know, I'm, I'm just, I'm
00:27:28
wondering where this will go. And of course, Malaysia, they
00:27:30
voiced apprehension over potential disruptions in the
00:27:33
global semiconductor supply if US tariffs on BRICS countries
00:27:36
are implemented, which of course that also would infect Taiwan.
00:27:41
And right now we're, we're kind of in a weak spot when it comes
00:27:44
to semiconductors and, and chips and of course microprocessors.
00:27:49
I'm concerned, what do you guys think the tariff impact could be
00:27:52
if they do that? Imagine what goes happens to
00:27:55
cars, computers, everything that needs these semiconductors
00:27:59
because we have not done a good job of protecting that industry
00:28:02
here within the United States. So I'm, I think that's a really
00:28:05
kind of a frightening possibility, isn't it?
00:28:10
Absolutely. If you look anywhere from where
00:28:12
we're sourcing the, the materials or the from Ukraine
00:28:17
for the semiconductors themselves or the production
00:28:19
over there in Taiwan and everywhere, everywhere but here
00:28:22
essentially, you know what, it really sets us up where, where
00:28:25
our flank has been exposed, right?
00:28:28
We, we try to do our best in this country to have the high
00:28:32
ground, right, to have the biggest bargaining chip, to have
00:28:34
the biggest stick. Unfortunately with the
00:28:37
advancement in semiconductor technology in the, the large
00:28:40
role that they're playing in just about everything that we do
00:28:42
now on a day-to-day basis and all these new advanced
00:28:45
technologies, that really is a weak spot for us.
00:28:48
Our our lack of progress in being able to develop those
00:28:51
ourselves. And it is, it does present a
00:28:54
massive concern, especially if we start, you know, really
00:28:56
having issues with the countries that are providing them for us.
00:29:00
Yeah, because I think right now the dollar sitting at over 58%
00:29:04
of the global foreign exchange reserves, but the up with a
00:29:07
trend for de dollarization that could gradually erode that
00:29:10
dominance. You know, we're we're in the
00:29:12
driver's seat right now, but how long that continues, who knows?
00:29:16
I know we've got to take a short break, but don't worry, the big,
00:29:20
big show. Global finance form, we'll be
00:29:22
right back and we come back. We're going to be talking about
00:29:24
Wall Street top news. Let's find out what's going on.
00:29:27
NASDAQ, Dow, let's talk about NVIDIA.
00:29:30
There's a lot of great stuff going on.
00:29:31
The markets are in pretty good shape at the moment.
00:29:33
I don't know how they are today. We can take a look at that on
00:29:35
the break. Stay tuned.
00:29:37
Global finance form. We'll be right back with Jacob
00:29:39
Diaz, George Ballantine and Lance Miliaccio.
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So let's dig in Wall Street top news.
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But man, I, I remember when they were talking about, you know,
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NASDAQ 11 or 1200. Was it going to happen?
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That was way back in the early 2000s during the tech boom,
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NASDAQ surpassed the 20 mark for the very first time, Of
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course, driven by the robust performances in the technology
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sector, evolving economic indicators.
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I mean, there's been some strong gains in technology.
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There's no doubt about it, man NASDAQ 20.
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I have to be honest, that is such a big number.
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I didn't really expect that to happen as soon as.
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Yeah, I couldn't agree more. It sounds pretty crazy just to
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even say, right, especially if you've been tracking the market
00:36:29
for 2020 plus years. It's it's certainly it's been
00:36:34
impressive. I think it's riding on the backs
00:36:37
of a big surge and a lot of wish are obviously coming in in a
00:36:41
couple big stocks. But it has shown that, you know,
00:36:46
and the question begs for me is how much room, more room is
00:36:48
there to run, right? When you talk about when we used
00:36:51
to talk about like you said, the 12 hundred 1200 mark and now
00:36:54
it's over 20. I think it's a select few you
00:36:59
know are going to benefit greatly from this.
00:37:00
But unfortunately I think a lot more people might be burned by
00:37:04
buying in now than than the alternative.
00:37:07
Yeah, it's tough to get into the market here, of course.
00:37:08
Tesla shares surged 5.9%, reaching a record high.
00:37:13
Of course, influenced by expectations related to CEO Elon
00:37:16
Musk's relationship with president-elect Donald Trump,
00:37:18
which we know that relationship is great.
00:37:20
Seems like Elon Musk is at every event.
00:37:22
Every time I see Amar, a Lago event or otherwise, he's right
00:37:25
there. He's also actively working with
00:37:28
Vivek Ramaswamy on. Oops.
00:37:32
Department of Government efficiency.
00:37:35
So we're looking at that. That department seems to be
00:37:38
actively going along with the commitment they made during the
00:37:43
the pre election time, meaning that they have focused on
00:37:48
deciding that there are 400 and some odd government agencies and
00:37:51
they're going to end up with 99. They keep exposing just
00:37:54
horrendous waste of money. So I think that's great.
00:37:57
But the but the big push it was Tesla stock jumped and of
00:37:59
course, NVIDIA, the company stock rose.
00:38:02
I'm you know, I saw a story. I don't know if you saw this,
00:38:05
Jacob, it was from Google. Did you see this new chip
00:38:09
they've got that basically can the one ship.
00:38:12
If you took every computer in the entire globe and you combine
00:38:18
their processing power, this chip is more powerful than all
00:38:21
the computers combined. Yeah, I saw that.
00:38:25
I think it was called Willow and it's a quantum quantum computer,
00:38:29
that or chip. And I was just reading a short
00:38:33
little excerpt about it. You know, I, I can't, I won't
00:38:36
pretend to have the deepest understanding of how the tech
00:38:38
itself actually works. But I was reading that it's,
00:38:42
it's basically as if it were computing the same problem in
00:38:47
millions or billions of tiny little universes inside the chip
00:38:51
and then working all together to spit the answer out is how it
00:38:54
was described. I'm not going to pretend to
00:38:56
understand how it works, but you could look at it as one, which I
00:39:00
think you should a huge advancement in technology, but
00:39:04
also that doesn't come without massive cause of concern, right?
00:39:08
Especially when you talk about the threats to I, I saw one, one
00:39:12
comment of a gentleman who was concerned about, you know,
00:39:15
Bitcoin even has been touted as, you know, uncrackable.
00:39:19
But when you have technology like this out there, how is
00:39:22
anything uncrackable, right? Or, or the banking system?
00:39:26
When you talk about true destabilization from something
00:39:29
like this, falling into the wrong hands, being used in the
00:39:33
wrong way, there's one thing you can't hack.
00:39:37
You know what is that? I'm trying to think of the name
00:39:39
of it. What is that technology rule?
00:39:41
They call it a law, but that that processing power, you know,
00:39:44
speeds up exponentially each year did what is the name of
00:39:47
that law? Do you know it?
00:39:49
I'm not. I'm not exactly sure, yeah.
00:39:50
It's one of those, it's one of those rules kind of like
00:39:52
Murphy's Law, but it's not Murphy's Law.
00:39:53
It's a law that has to do with processing power and computing
00:39:56
power that they use to determine.
00:39:58
But this, this chip I wrote, read an article where this far
00:40:01
exceeds anything in the realm of what they ever thought was
00:40:04
possible. We went into quantum computing.
00:40:06
We thought a petaflop was a big deal.
00:40:08
But my understanding is this does multiple petaflops.
00:40:11
So the speed of what we're talking about, what you just
00:40:14
brought up is concerning. Now you imagine if you if you
00:40:17
connected that chip to AI, what do you end up with?
00:40:21
Is this a super being we're talking about?
00:40:24
Because you'd have to think that no AI has ever had access to a
00:40:28
chip like that. And if those two were to be
00:40:31
connected, you know, what kind of a situation are we in?
00:40:34
And of course, what you just said, is there anything that's
00:40:37
uncrackable, crackable, because the blockchain, you start
00:40:40
talking about 12 word seed phrases.
00:40:42
How quickly could this computer chip test every word in the
00:40:47
human language, in every different dialect, in every
00:40:50
different language base, meaning any foreign language?
00:40:54
How quickly could that chip run every option for every word
00:40:58
combined in any combination and break the code for any seed
00:41:02
phrase on the planet? I think the as accurate an
00:41:06
answer, if I could give to that, is like that is how quickly it
00:41:10
could get your 12 letter key that up until this point has
00:41:14
been nearly impossible for any existing computer or certainly
00:41:17
any human, any single human being or organization to break
00:41:20
in. And it's one of those things,
00:41:22
you know, very rarely do I see something on the news that
00:41:25
causes such awe of what humans have been able to be capable of
00:41:31
producing. But also this, this one really,
00:41:34
I had a strange feeling in my gut about it that I think if
00:41:38
this falls into the wrong hands or is used for the wrong
00:41:40
purpose, or like you said, if it's, you know, tapped into AI
00:41:43
somehow, I think, I think there's really valid concerns
00:41:46
there about about, you know, the damage that could be done.
00:41:50
Yeah, there's no doubt. So we'll have to keep an eye on
00:41:52
that. We'll let you guys know.
00:41:53
We'll try to do a story on that either here on the Global
00:41:56
Finance Forum. Maybe I'll dig in next week and
00:41:58
get real details about it. I've got a guy that's kind of an
00:42:00
industry expert, so I'll reach out to him and we'll also cover
00:42:03
it on the Big Make show. So if you head over there, we'll
00:42:05
have it there too. So sometime in the next week,
00:42:07
I'll try to find somebody that really understands the power of
00:42:09
that new Willow chip. So the economic indicators for
00:42:12
the Federal Reserve actions, inflation data not looking too
00:42:15
good. Consumer price index showed a
00:42:18
.3% increase. Donald Trump made a public
00:42:21
comment that he didn't know what he was going to be able to do
00:42:23
about inflation because it's very difficult to bring prices
00:42:25
down once they go up. A lot of people are blaming
00:42:28
inflation on the Biden administration's, not only their
00:42:33
economic policies, but of course, what they did to our
00:42:37
fuel independence by shutting down fuel prices went through
00:42:42
the roof. We always know that fuel
00:42:43
directly impacts that. Of course, oil, when you start
00:42:46
looking at rubber and some of the other items that come from
00:42:48
that, the costs have gone through the roof.
00:42:51
Diesel fuel up, tire costs up, service items up.
00:42:56
So delivery of goods that's way up.
00:42:59
This is a little bit. I'm worried about it for Donald
00:43:02
Trump to come out publicly and say that.
00:43:04
And of course, the far left, you know, jerks including Harry
00:43:10
Sisson had to come right on and say, oh, you guys all voted for
00:43:12
Trump because he's going to fix inflation.
00:43:14
He told you he'd get prices down.
00:43:16
Like you said, this is a giant, giant cruise ship inflation.
00:43:20
What do you think was is the Federal Reserve is hoping that
00:43:22
they they're going to implement this quarter point interest
00:43:24
rate, but I don't know if that's enough to maintain inflation
00:43:28
near its target of 2% or even bring it below that or fix the
00:43:31
prices. What do you think about prices,
00:43:33
George? I mean, you're dealing with it
00:43:34
constantly just like I am. What do you think?
00:43:36
Do you think Trump, how long is it going to take to have any
00:43:38
kind of impact with his policies to bring inflation down?
00:43:45
I mean, it would probably take a year to start seeing some things
00:43:51
go down. I'm going to say it's going to
00:43:53
listen regardless. In fact, it's going to take
00:43:55
time. You don't have a magic wand.
00:43:57
The thing is, will the companies start like anything else, lower
00:44:01
their prices again once inflation goes down, or will
00:44:04
they keep it and want to make more profit?
00:44:07
You know, that's the thing. Will they be greedy?
00:44:09
I mean, listen, I bought the other day, it was 1818 eggs in
00:44:14
that little, that carton, I think it was almost like 8
00:44:17
bucks. This was like a few days ago.
00:44:19
I mean, almost like 8 bucks. It's just crazy.
00:44:22
A lot of people can't, you know, know who can afford that?
00:44:27
But I mean, I walked out with a bill of $200.
00:44:29
I'm like, I looked at like, I'm like, what the hell I get for
00:44:31
$200.00. So I'm look at the prices.
00:44:33
It's like crazy package of pastries $8 like shopping.
00:44:38
Is a frightening, you know, I never used to be the guy that
00:44:40
would look at the prices. Now I'm like, OK, especially at
00:44:43
Costco because they had the portion.
00:44:44
I'm like, OK, well I can get that dishwashing soap for $0.29
00:44:47
a portion or or the Curry cups. I'm like, oh, those are on
00:44:50
special. They're 28.
00:44:51
I would have never done that before.
00:44:52
I just bought what I liked years ago.
00:44:54
I didn't pay any attention. And at the end of the day, I
00:44:56
think every American's doing that.
00:44:57
But of course, these companies. I agree with you, George.
00:45:00
Even if Donald Trump lowers the fuel, let's say he starts
00:45:03
working on our energy independence, which is one of
00:45:05
his big goals again, for us to be energy independent.
00:45:08
He's even talking about expanding our nuclear fuel
00:45:11
options and really working on that.
00:45:13
He's got some real experts he's bringing in there.
00:45:14
I know one of them that's probably going to end up with a
00:45:16
cabinet position. A great guy and a friend of
00:45:19
ours. At least I hope he does.
00:45:19
When I say Cabinet vision, administrative position, not
00:45:22
cabinet, but he's talked about how important it is.
00:45:25
Now we've got an issue because Russia supplies most of our
00:45:28
nuclear fuel. We get most of it from there.
00:45:30
Of course, you know, the deal that Hillary Clinton did that
00:45:33
she should have faced charges for the Uranium 1 deal.
00:45:36
That got a lot of publicity. I still think she ought to face
00:45:39
the consequences for that. But our independence is
00:45:41
threatened by the reaction of maybe to the tariffs.
00:45:45
But what's I think what's really we have to really pay attention
00:45:49
to here right now is that greed is good by, you know, you know,
00:45:53
that quote from Gordon Gekko. I'm worried that these that
00:45:56
George is right, that all these companies have gotten used to
00:45:59
these higher prices. They've inflated the prices.
00:46:02
And now if inflation moves it down, are any of them going to
00:46:05
go along with it and lower their prices?
00:46:07
What do you think, Jacob? You think they're going to go
00:46:08
with the greed is good or are they going to do what's right
00:46:10
for the country? I think, you know, it's so
00:46:14
difficult to say. There's, there's so much greed
00:46:17
in this country, especially at the corporate level.
00:46:21
And you know what, I, it's funny enough, I hadn't thought of that
00:46:25
in exactly that way, that even if the, the comp, the company's
00:46:28
cost comes down, will they inherently just say, oh, now we
00:46:31
can lower our prices? I'd, I'd like to believe they
00:46:34
would, I'd like to believe they would, it'd be the right thing
00:46:36
to do. But how many of how much of
00:46:38
corporate America is doing the right thing on the, on the
00:46:41
day-to-day in the interest of the little guy, you know?
00:46:44
So I, I hope maybe that there's some incentives, maybe maybe
00:46:47
this is something that Trump's already thought of and, and has
00:46:50
a solution for. If I can bring the prices down,
00:46:52
how can we have that actually impact the day-to-day of of your
00:46:56
average American? You know it.
00:46:58
You bring up an extremely valid point, especially with that
00:47:00
recent assassination of the CEO of United Healthcare.
00:47:04
People are angry. I see it on social media, George
00:47:07
and I do. We see it in the chat rooms.
00:47:08
They are angry about the behavior of corporate of America
00:47:12
and the greed and the unwillingness to come up with a
00:47:17
kind of a, a middle ground where the consumers protected and they
00:47:20
still have a profit of what's happened in healthcare.
00:47:23
You just saw there was a first copycat.
00:47:25
She got arrested. She was threatening some Blue
00:47:28
Cross and Blue Shield people on the phone.
00:47:29
They arrested her for it. So kind of a copycat pattern.
00:47:32
What I'm concerned with and, and never do I call, we never call
00:47:35
for violence in any way. We don't believe in it.
00:47:37
It's not one of those things that would ever be recommended.
00:47:39
But I'm concerned that the copycat influence of that event
00:47:43
by that CEO assassination, I'm afraid we're going to see more
00:47:46
of that. And I think the American public,
00:47:49
what we're seeing with the American public on both sides of
00:47:51
the aisle is this kind of bitter anger and hatred, whether it's
00:47:54
towards CEO celebrities, it's really happened.
00:47:58
And I, I kind of believe in my own head that it's their fault.
00:48:02
They caused it. You know, there's this, there's
00:48:03
this intense hatred. They just saw LeBron James just
00:48:06
took a break from playing. And I think it's because he's
00:48:08
been attacked so rabidly over the whole P Diddy Jay-Z
00:48:13
situation that's been unfolding. You guys think that's something
00:48:15
we're going to see more of in the future.
00:48:16
I mean, and again, let me say this to the audience.
00:48:18
We do not recommend or suggest this.
00:48:21
And I'm not supporting it in any way.
00:48:23
I'm just concerned because I see the anger and the pent up, you
00:48:27
know, the feelings of the American people and I see it on
00:48:29
social media more than ever and I think it affects even the in
00:48:32
the finance world. I, I think, you know, just from
00:48:36
one man's opinion here, I think what's happened is so much of,
00:48:41
of politicking and, and everything at the, at a high
00:48:44
level has been trying to convince Americans that
00:48:48
Americans are the problem, right?
00:48:50
Whether it's trying to convince, you know, folks on the left to
00:48:53
hate the right or trying to convince folks on the right to
00:48:55
hate the left instead of just looking up, right?
00:48:59
When you, when you look at the problems that exist in this
00:49:01
country that affect most Americans on the day-to-day,
00:49:04
they're not, they're not coming from your neighbor, right?
00:49:06
It's coming from the top down, whether it be the government,
00:49:10
right, or whether it be, you know, corporate America, which
00:49:12
has gotten away with far too much.
00:49:14
I mean, these are the same people who lost, lost their
00:49:16
money in 2008 due to a banking crisis that.
00:49:19
Yeah. No doubt.
00:49:20
Was not their fault. I, I think the people have just
00:49:23
seen enough and I think it's, it's part of a much larger trend
00:49:27
where you see decentralized currency starting to become
00:49:29
popular. A lot more people want to go
00:49:31
back to gold and silver. People are bucking the thought
00:49:34
that, you know, American corporations can just do
00:49:38
whatever the heck they want because they have all the money
00:49:40
and keep screwing over the little guy.
00:49:41
I, I honestly do think people are fed up and for good reason.
00:49:45
Now, obviously, do I think that condones violence?
00:49:48
Of course not. But do I think we're going to
00:49:49
see a trend in, in groupthink, in massive, you know, thought
00:49:54
process across the country? Yes.
00:49:56
I think ultimately that's going to lead to change.
00:49:59
Things like the Department of Government efficiency come to
00:50:01
kick in. I think we're going to see a
00:50:03
leaner government, a push for less corruption in the, in the
00:50:06
corporate America. And I think ultimately, you
00:50:09
know, barring violence, I, I hope that this is a good thing
00:50:12
for our country, for a, for a mental reset here.
00:50:14
Yeah, no doubt. I agree.
00:50:16
Well, the cryptocurrency markets agree with you.
00:50:18
They're seeing significant developments amid regulatory
00:50:21
changes and of course, market milestones.
00:50:22
And I think it's all about what you just said.
00:50:25
People are kind of fed up and they're concerned and the
00:50:27
independence of being in blockchain has really caused a
00:50:30
lot of stuff to to to surge. XRP surge following US election
00:50:34
outcomes. They had a price increase, You
00:50:36
know, of course, you guys know this is the digital token it's
00:50:38
utilized by Ripple Labs created by them.
00:50:41
They experienced a remarkable surge nearly 400% since November
00:50:45
5th. You know, position is the third
00:50:47
largest cryptocurrency by market capitalization, just below
00:50:51
Bitcoin and Ethereum. A lot of people think it's going
00:50:53
to overtake Ethereum unless Ethereum has a big price
00:50:56
increase. Baron's talking about the
00:50:58
regulatory outlook. Investors anticipate that the
00:51:01
incoming administration under President-elect Donald Trump
00:51:04
will adopt A more crypto friendly regulatory stance.
00:51:08
The potential appointment of Paul Atkins, known for his
00:51:10
opposition to stringent crypto regulations, as the new head of
00:51:14
the Securities and Exchange Commission has fueled optimism
00:51:17
regarding the the dismissal of existing legal challenges
00:51:20
against Ripple Labs. Course, that's Gary Gensler.
00:51:23
He's been detrimental to our big position on crypto.
00:51:27
Donald Trump made an announcement.
00:51:29
He said that he's going to do some great things in crypto.
00:51:31
I know he's got plans for his own family.
00:51:34
Baron Donald and Eric are completely entrenched into
00:51:38
crypto. The crypto regulation world map
00:51:41
is changing rapidly, where crypto is becoming legalized and
00:51:45
a lot of countries didn't allow it before.
00:51:47
It's growing. George, if you want to throw
00:51:49
that map up and then George, I want to hear from you.
00:51:50
What do you think, Donald Trump? Crypto deregulation?
00:51:54
What's the plan and what's going to happen to the markets once
00:51:56
it's in full swing? I think you're going to see a
00:52:03
crypto phenomenon. But you know, and I would say
00:52:06
this Lance the first person to make buying crypto to mean more
00:52:13
if they more they simplify it instead of doing all this crazy
00:52:16
stuff, it's going to be the winner.
00:52:19
That dude, that person, woman, man, they whatever is going to
00:52:23
be a rich person because it's absurd how many different ways
00:52:29
you have to go to buy certain coins or it's just ridiculous
00:52:36
you. Have to have half a dozen
00:52:37
wallets. You have to have be on multiple
00:52:39
platforms because it's not on every platform.
00:52:41
Let me finish. So This is why people,
00:52:43
especially older people that don't understand it are, are
00:52:46
keeping away from it because it just it's making them more
00:52:49
difficult for them. So take a regular person that's
00:52:52
not so tech savvy and you know, it's not like you're going to go
00:52:55
to your your banking app where it's easy.
00:52:57
You can go, hey, a transfer this and that.
00:52:59
It's simple versus going to buy crypto, so kudos to the person
00:53:04
that does that. And let me say something to the
00:53:08
audience. This map isn't completely
00:53:09
accurate because there's been some major deregulation in China
00:53:13
recently. So that would, in my opinion,
00:53:15
wouldn't be red in China. They have some restrictive
00:53:17
policies. I would say that's more of a
00:53:18
yellow. And I think China's on the cusp
00:53:21
of going full green. What do you think?
00:53:25
Bitcoins hit record-breaking prices over 100.
00:53:28
It seems to be holding. It's got some resistance now.
00:53:31
It's got some consolidation. What do you think, Jacob?
00:53:34
What do you think we're going to see here?
00:53:35
Deregulation. Is Bitcoin going to continue to
00:53:38
surge in the future? You know, I, I strongly believe
00:53:43
that Bitcoin has established its foothold in in a global economy
00:53:47
and I think it's here to stay. And I think, you know, it's,
00:53:50
it's a long way of people usually compare the two
00:53:52
directly, right? They say it's the digital gold.
00:53:55
I think there's, you know, especially when you're talking
00:53:57
about issues with the stuff like the, the multi, the processor we
00:54:02
were just talking about earlier, the Willow chip, you know, it,
00:54:05
it, it pokes holes in that theory, But I think the two can
00:54:09
absolutely very well coexist and each hold their own place in
00:54:13
value in a portfolio. And George, I know you
00:54:15
mentioned, you know, the, the complexity of it and, and how
00:54:18
that almost, you know, inhibits people from making the jump to
00:54:22
something that they think is a good idea.
00:54:24
I don't know if we'll have time today to go through it the, the
00:54:26
full depth of it, but we have some pretty exciting
00:54:28
developments on that front. And, and hopefully trying to
00:54:31
make crypto a little bit more accessible to, to folks who
00:54:33
might not have the deepest understanding of the technology
00:54:36
or, or, or who might worry about the 24/7 markets.
00:54:39
We've got something exciting coming soon.
00:54:41
Well, maybe next Friday on our segment, we can start talking
00:54:44
about that in the beginning if, if it's if we can little taste
00:54:50
out there to some people. Yeah, Jacob's throwing a little
00:54:52
taste right now. It's exciting stuff.
00:54:54
We're excited for Genesis Gold Group.
00:54:57
We're we're hoping to roll out a big show with that because I
00:55:00
think we need to make crypto shows and crypto education much
00:55:04
more accessible. So that's the big plan.
00:55:06
They've got great things in the works.
00:55:08
So maybe we'll let you guys, we'll leave you on a cliffhanger
00:55:10
next Friday, hopefully Jacob and Jonathan and hopefully he'll be
00:55:13
back, back in the saddle. Maybe we've got a opportunity to
00:55:16
talk about that then. But I think what we're looking
00:55:18
at, if you have to start looking at all the exchange traded
00:55:21
products that are out there, Europe is growing that market,
00:55:24
London, the comparative analysis for this growth, net inflows.
00:55:28
And if you've seen net inflows just surge into the crypto
00:55:31
markets, and I don't care whether you're talking about
00:55:33
stable coins, all coins, meme coins, they're way up because
00:55:36
we're seeing some, you know, market cap numbers that are just
00:55:40
crazy. We're getting one of the largest
00:55:42
ones just came out was Peppu Unchained, a meme coin.
00:55:45
They came out of the gate with a $75 million market cap.
00:55:48
I don't know where they're at. They've had a little downward
00:55:50
trend today, but they were all the way up to I think almost 600
00:55:54
million market cap at one point in a matter of days.
00:55:57
So we're talking about tremendous amounts of money
00:56:00
moving around. It doesn't matter what the
00:56:01
market is. So when you see that kind of
00:56:03
liquidity moving in the market, you have to understand this is
00:56:06
here to stay. So you don't want to
00:56:08
underestimate what this is going to do and you definitely want to
00:56:12
get involved. And, and I can tell you this
00:56:14
that what Genesis Gold Group's got in the works gives you an
00:56:17
opportunity at a grassroots level to get involved with
00:56:21
experts in the field. You know, you can charge Genesis
00:56:23
Gold Group. So I don't want to go too far in
00:56:25
because we're under an NDA. So we don't want to put that out
00:56:28
there. And at the end of the day, I
00:56:30
think there's great things coming out.
00:56:32
I could be persuaded with a gold pepper bar, maybe I should say.
00:56:35
Trying to get a little bribe. All right, well, listen, listen,
00:56:38
we're out of time for the global finance forum for today.
00:56:42
Hopefully you enjoyed the show. If you like the show, take the
00:56:44
short form. The long form.
00:56:45
You know George will be putting out short form content.
00:56:47
Take the long form. We're not going to come after
00:56:48
you for copyright. We want to expand the voice.
00:56:50
If you hadn't gone over to Genesis Gold group, you've got
00:56:53
the QR codes. Get over there and get the free
00:56:55
IRA guide ASAP. You want to have that, you want
00:56:58
to develop a relationship with these guys because what they've
00:57:01
got planned for the crypto world, you're going to want to
00:57:04
be part of that. It's an amazing, great
00:57:06
opportunity to to protect your investments.
00:57:09
And of course, don't forget the prepper bar.
00:57:11
Get a couple of these. Even if you want to go just for
00:57:13
the silver ones. Your grandkids would love to
00:57:15
have these. Great thing to just have and
00:57:17
hold. I know we used to get the
00:57:19
remember the mint sets you used to get at the coins that were
00:57:21
minted. My parents would always put one
00:57:22
of those in our stocking back then, which were the were the
00:57:25
press, the proof sets. I still have them now, the proof
00:57:28
sets of coins that would give us for the kids.
00:57:30
But yeah, I do. I still have those.
00:57:32
So here's the deal. Get over there, the big Meek
00:57:35
bar.com, get over there, buy some silver, buy some gold ones.
00:57:38
You know, the gold. People love gold.
00:57:39
I know George does. I'm not going to do the Jingle
00:57:42
because I I'm going to try to get out of here before George
00:57:44
does it either. Jacob Diaz, thank you so very
00:57:46
much for doing the show. What is the Genesis Gold?
00:57:48
I never do this. First of all, give the website
00:57:50
one more time for Genesis Gold Group and give the social media
00:57:54
because you guys are definitely going to be growing that social
00:57:56
media. So let people get in early to
00:57:57
get connected with you. Yeah, absolutely.
00:58:00
Last thing to throw out to your audience before, before we get
00:58:03
into that as well. Genesis is operating on a
00:58:06
Christmas special for the month of December where we're waiving
00:58:09
not only the IRA set up fees, but also at least year 1 of
00:58:14
custodial fees of the storage depending on, you know, the, the
00:58:17
amount that you're, you're looking to roll over.
00:58:19
And we might be able to do even better than that.
00:58:21
So a lot of folks have been trying to wrap this up and get
00:58:24
into gold and silver before, you know, the inauguration when
00:58:26
things might start to get a little bit hairy.
00:58:28
So if that applies to anyone listening, feel free to reach
00:58:32
out to us and, and we'll go ahead and get you taken care of.
00:58:34
Cover your first fees at least and hopefully more.
00:58:38
Sounds interesting. So I think the social media on X
00:58:40
is Genesis gold. GI think is what you guys have.
00:58:44
I think you have it shortened. You don't go to the group and I
00:58:47
think over on X, it's Genesis Gold Group.
00:58:49
So follow these guys. Lots of great information.
00:58:51
Don't forget to let them know the big MIG sent you because of
00:58:54
course we want that shameless plug whenever you contact
00:58:57
Genesis Gold Group. And if you get that look right
00:58:59
now, the Christmas special, jump in there.
00:59:01
Get those IRA fee setups. Wait, get those custodial fees
00:59:03
waived. It's a great opportunity to get
00:59:05
into the ground floor and develop a relationship with the
00:59:07
Genesis Gold Group team. George Ballantine last words on
00:59:10
our way out of the gate. If I don't see y'all tonight,
00:59:15
have a blessed weekend. And just so you know, tonight we
00:59:17
have Jillian Michaels coming on as a guest.
00:59:19
It's going to be a fiery episode tonight.
00:59:21
It's going to be a lot of fun. Yeah, she's.
00:59:22
Great. 7:00 PM Eastern. Y'all looking for this weekend?
00:59:26
Goodbye. As an American who keeps up with
00:59:33
the real news, you know by now the severity of the economic
00:59:37
issues that are plaguing our great nation.
00:59:39
My name is Jonathan Rose and I'm the CEO of Genesis Gold Group,
00:59:43
the only major faith driven company in the industry. 2024 is
00:59:48
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