Latest / The Ben Ferguson Podcast / 50% Fury as Trump Invokes Tariff Tsunami

Transcript

50% Fury as Trump Invokes Tariff Tsunami · The Ben Ferguson Podcast

0:01
Speaker 1: President Trump is continuing to move forward with tariffs. Why
0:06
Speaker 1: he's wanting to put the American workers first. The White
0:10
Speaker 1: House putting the world on notice with new threats, tariffs
0:14
Speaker 1: that are targeting our allies, the European Union, Canada, and Mexico.
0:19
Speaker 1: The White House unveiling a fifty percent tariff, for example,
0:23
Speaker 1: against Brazil. Now, of course, the left is freaking out
0:26
Speaker 1: over Donald Trump and what he's doing, which is exactly
0:28
Speaker 1: why I want to explain it to you so you
0:30
Speaker 1: understand what's really going on. And the White House decided
0:34
Speaker 1: it was important to send out asset to the media
0:37
Speaker 1: to talk about what these tariffs mean and what they
0:40
Speaker 1: can expect moving forward. Take a listen to the White
0:43
Speaker 1: House's strategy on ABC.
0:46
Speaker 2: Well.
0:46
Speaker 3: As you know, a lot of economists say that the
0:47
Speaker 3: inflation will be coming, and that there was there were
0:50
Speaker 3: certainly a lot of exports that were I mean imports
0:53
Speaker 3: that were brought in in the anticipation the tariffs would
0:56
Speaker 3: be placed. But let me let me ask you about
0:58
Speaker 3: one new set of terror city announced on Brazil. Fifty
1:03
Speaker 3: percent new tariff on Brazil. Brazil had a six point
1:07
Speaker 3: eight billion dollar surplus last year. In fact, the US
1:11
Speaker 3: hasn't had a trade deficit with Brazil since two thousand
1:16
Speaker 3: and seven, I mean almost two decades, So why why
1:20
Speaker 3: why are we putting a punishing fifty percent tariff on Brazil.
1:24
Speaker 4: Well, bottom line is the President has been very frustrated
1:27
Speaker 4: with negotiations with Brazil and also with the actions of
1:30
Speaker 4: Brazil in the end, though you know, we're trying to
1:33
Speaker 4: put America first. I think that a lot of people
1:36
Speaker 4: when I'm talking to negotiators from other countries, at some
1:39
Speaker 4: point they'll say, what.
1:40
Speaker 2: Did we do wrong?
1:41
Speaker 4: And what I'm trying to get. The message we're all
1:44
Speaker 4: tried to get across is this is about America getting
1:47
Speaker 4: yourself ready for the Golden Age, by getting our house
1:49
Speaker 4: at order, by getting our tariff and trade policy and
1:52
Speaker 4: tax policy exactly where it needs to be for a
1:54
Speaker 4: Golden Age. And normally it's not necessarily about a specific country,
1:58
Speaker 4: but with Brazil it is. Actions have shocked the President
2:01
Speaker 4: at times, and he's made none clear about that.
2:03
Speaker 3: But I don't understand how you're saying it's about America,
2:06
Speaker 3: because the President has made it quite clear that what
2:09
Speaker 3: he's upset about is how the Brazilian Supreme Court has
2:12
Speaker 3: handled the criminal case involving former President Balsonaro.
2:18
Speaker 4: I mean with you, what I'm saying is that what
2:20
Speaker 4: I've been saying with most countries was that it's really
2:23
Speaker 4: about us getting the tariff's in order. And I think
2:25
Speaker 4: that this teriff for Brazil is a lot higher because
2:27
Speaker 4: of the President's frustration with Balsonaro and the fact that
2:29
Speaker 4: Bolsonnaro himself, you know.
2:31
Speaker 3: Anyway, but can you explain to me because I find
2:36
Speaker 3: it confusing here on what authority does the president?
2:40
Speaker 5: By the way, can we just pause? Isn't it amazing
2:43
Speaker 5: how ABC News is.
2:44
Speaker 1: Like, well, I find it a bit confusing that the
2:47
Speaker 1: president United States of America is doing what the President
2:50
Speaker 1: of the United States of America said he was going
2:53
Speaker 1: to do. And then they're like, well, hold on, Brazil
2:55
Speaker 1: is this and is it really about tariffs or is
2:57
Speaker 1: it about that? And we were finding this very confusing,
3:00
Speaker 1: and we feel like it shouldn't be so confusing that
3:03
Speaker 1: the president of the United States of America again is
3:06
Speaker 1: doing exactly what he said he was going to do.
3:10
Speaker 5: It shouldn't be confusing at all.
3:11
Speaker 1: In fact, it should seem completely normal that the president
3:14
Speaker 1: United States of America is doing exactly what the President
3:17
Speaker 1: of United States of America.
3:19
Speaker 5: Said he was going to do.
3:23
Speaker 1: And yet they're always acting like they're completely dumbfounded that
3:27
Speaker 1: they're just in like complete shock and all that the
3:32
Speaker 1: President of the United States of America, Donald Trump is
3:34
Speaker 1: doing exactly what the President United States of America said
3:37
Speaker 1: he was going to do. Like if there's anything that
3:40
Speaker 1: shouldn't be surprising to the media, especially in this second term,
3:45
Speaker 1: is that the president says what he's going to do
3:47
Speaker 1: and he's not messing around. He's made it clear to
3:50
Speaker 1: our allies. You got a timeframe to get a deal done,
3:53
Speaker 1: come to the table, get a deal done. You decide
3:56
Speaker 1: not to get a deal done, that's on you. It's
3:59
Speaker 1: not going to be good. It's gonna be bad. You
4:01
Speaker 1: choose what you want to do. Do you want to
4:04
Speaker 1: get a deal done or do you not want to
4:06
Speaker 1: get a deal done? Like it's just that simple. What
4:09
Speaker 1: is it that you want to do? And even if
4:13
Speaker 1: you are an ally of the United States of America
4:16
Speaker 1: and you've been taking advantage of us. I went on
4:18
Speaker 1: TV other day in Australia on on Channel seven, and
4:21
Speaker 1: I also do this the other day on Good Morning Britain.
4:25
Speaker 5: In the UK, and they're.
4:27
Speaker 1: Like acting like what Donald Trump is doing is so shocking.
4:30
Speaker 1: And what I said was over and over again was
4:32
Speaker 1: the same thing. Guys, This is not complicated. The President
4:35
Speaker 1: of the United States of America told you that he meant business.
4:38
Speaker 1: He said that he'd been taking advantage of for far
4:41
Speaker 1: too long, that Americans have been taking advantage of and
4:43
Speaker 1: you guys have been taking avanage.
4:44
Speaker 5: So we're gonna fix it.
4:45
Speaker 1: We're gonna go in the opposite direction and we're gonna
4:47
Speaker 1: get a better trade deal. We're gonna get a fair
4:49
Speaker 1: trade deal. Like the President has been very very very
4:52
Speaker 1: very clear on that. And so to think or imply
4:58
Speaker 1: that it's gonna be any different, your dumb. He is
5:02
Speaker 1: shown very clearly over and over again he's not messing around.
5:08
Speaker 1: He's shown that this is what he means, this is
5:12
Speaker 1: what he believes, this is what he's going to do.
5:15
Speaker 5: There's no great area here.
5:18
Speaker 1: And if you don't believe him, including if you're an ally,
5:21
Speaker 1: then it's gonna cost you more money. So you better
5:23
Speaker 1: get a better deal like that. That's what they've been
5:26
Speaker 1: saying over and over and over and over again. Like
5:31
Speaker 1: you're like, you're gonna get a better deal if you.
5:35
Speaker 5: Come to the table and get a deal done. Now,
5:37
Speaker 5: he wants a fair deal.
5:38
Speaker 1: He doesn't want us to be taking advantage of He
5:40
Speaker 1: wants us to be a fair deal. That's all he's
5:42
Speaker 1: asked for from the very beginning.
5:44
Speaker 5: Like, that's it. He just wants a fair deal. That's it.
5:50
Speaker 1: Like that, that's the whole game, folks, Like that's everything,
5:54
Speaker 1: that's the whole kit and kaboodle.
5:56
Speaker 5: He wants a fair deal. You don't give him a
5:58
Speaker 5: fair deal.
5:59
Speaker 1: We're now in the situation and you can hear ABC like, well,
6:02
Speaker 1: we just can't understand it.
6:02
Speaker 5: We just don't understand. How is this possible keep listening
6:05
Speaker 5: and have.
6:07
Speaker 3: To impost tariffs on a country because he doesn't like
6:10
Speaker 3: what that country's judicial system is handling a specific case.
6:14
Speaker 4: Well, I mean, how is that a national defense emergency?
6:17
Speaker 4: Or if he thinks of a national security threat that
6:19
Speaker 4: he has the authority under a eput.
6:21
Speaker 3: So how is it a national security threat that you know,
6:24
Speaker 3: how Brazil is handling the criminal case against this former president.
6:27
Speaker 2: Well that's not the only thing.
6:29
Speaker 4: That's not the only thing.
6:30
Speaker 3: I mean, So what is it? I mean, I've asked
6:31
Speaker 3: what it is? I mean, it seems that that's what
6:33
Speaker 3: President Trump's talking about. He's talking about his anger and
6:36
Speaker 3: his frustration. He's been quite candid about it, with a
6:38
Speaker 3: bolsnarrow case.
6:39
Speaker 2: Right.
6:40
Speaker 4: Well, the bottom line is that what we're doing, absolutely
6:43
Speaker 4: collectively across every country is we're on shoring production in
6:47
Speaker 4: the US to reduce the national emergency that is that
6:50
Speaker 4: we have a massive trade deficit. This putting it at
6:53
Speaker 4: risks should we need a production in the US because
6:56
Speaker 4: of a national security crisis, And this is part of
6:58
Speaker 4: an overall strategy to do that.
7:00
Speaker 3: But again, as we've just established, we have a trade
7:03
Speaker 3: surplus with Brazil, non a deficit, and we've had a
7:06
Speaker 3: surplus with Brazil for eighteen years.
7:09
Speaker 4: If you look at an overall strategy, if you don't
7:11
Speaker 4: have an overall strategy for this, then they'll be tramshipping
7:14
Speaker 4: at everything else and you won't achieve your objectives.
7:17
Speaker 1: Again, they can badger as much as they want, and
7:21
Speaker 1: that's exactly what the media is going to do every
7:23
Speaker 1: time they want to find a reason why, they can.
7:25
Speaker 5: Say this is a disaster, that this is unfair.
7:29
Speaker 1: Notice ABC News there is literally acting like they are
7:32
Speaker 1: on behalf talking on behalf of the Brazilian government. Like
7:37
Speaker 1: they're not on the side of the United States of America,
7:41
Speaker 1: they are clearly on the side of any other country.
7:44
Speaker 1: They want Donald Trump to be a failure, They want
7:47
Speaker 1: Donald Trump to lose. They want Donald Trump to be
7:50
Speaker 1: blamed for everything that happens. It's possibly in any capacity.
7:53
Speaker 1: Looks negative and apparently like they're not going to stop.
7:59
Speaker 1: Folks like they're going to keep going anytime they can
8:03
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8:07
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10:30
Speaker 5: Now let's just go back.
10:31
Speaker 1: To another aspect outside of what we're seeing with Brazil,
10:35
Speaker 1: and that deals with the issue of copper. The Presence
10:37
Speaker 1: made it clear that we are way too dependent on
10:40
Speaker 1: foreign countries and it puts our national security at risk
10:44
Speaker 1: on certain types of minerals and metals.
10:48
Speaker 5: Et cetera.
10:49
Speaker 1: And this was part of the back and forth on
10:51
Speaker 1: the President talking about these new things, these utiffs. Now,
10:56
Speaker 1: I think the present's very smart and the way that
10:58
Speaker 1: he is handling this so far.
11:00
Speaker 5: It's been a success.
11:02
Speaker 1: Take a listen to what was said again on ABC.
11:05
Speaker 1: Of course they're saying it's the worst thing in the world.
11:07
Speaker 3: Let me ask you about the fifty percent tariff that
11:10
Speaker 3: the President has imposed on copper imports. Copper, of course,
11:14
Speaker 3: is a widely used in construction, industrial manufacturing, cars, mobile phones,
11:21
Speaker 3: and the like. This is what the Wall Street Journal
11:23
Speaker 3: had to say about these tariffs. Mister Trump is going
11:26
Speaker 3: to make US firms pay fifty percent more for a
11:28
Speaker 3: vital metal while they wait five or more years for
11:31
Speaker 3: US sourcing. How does making it more expensive to build aircraft,
11:34
Speaker 3: ships and ammunition promote national security? This is national's insecurity.
11:39
Speaker 3: What's your response to the Wall Street Journal?
11:41
Speaker 2: Right?
11:41
Speaker 4: The bottom line is that if there is a type
11:44
Speaker 4: of war, then we need to have the metals that
11:46
Speaker 4: we need to produce American weapons, and copper is a
11:49
Speaker 4: key component in many American weapons sets. And so as
11:53
Speaker 4: we look forward to the threats that America faces, the
11:55
Speaker 4: President decided that we have plenty of copper in the US,
11:58
Speaker 4: but not enough copper production. That's why he's taken a
12:00
Speaker 4: strong step.
12:01
Speaker 3: But are you concerned about the effect of higher copper
12:04
Speaker 3: prices before American manufacturing can get up to speed.
12:07
Speaker 4: The fact is that that effect that you're just discussing
12:11
Speaker 4: is something that you mentioned. That economist said, we're going
12:13
Speaker 4: to be coming all year these effects and inflation is
12:16
Speaker 4: way way down In fact, inflation in the US is
12:18
Speaker 4: right about the same level as it is in Europe. Okay,
12:21
Speaker 4: And so the tariffs have worked the way that we
12:22
Speaker 4: said it, So I guess the expectation would be that
12:25
Speaker 4: the countries and the people that are dumping into the
12:27
Speaker 4: US would bear most of this tariff.
12:29
Speaker 1: Again, you're dealing with the president who has said he
12:33
Speaker 1: is going to continue to put Americans first. We're going
12:38
Speaker 1: to put Americans first, no matter what, American workers first,
12:43
Speaker 1: national security first.
12:45
Speaker 5: That is what we are going to do.
12:48
Speaker 1: And I absolutely love the fact that you've got a
12:52
Speaker 1: president that's willing to make these really, really tough decisions.
12:58
Speaker 5: And that's what it is.
13:00
Speaker 1: The Present's willing to make a decision that is tough,
13:04
Speaker 1: knowing that he has the backing and the support of
13:06
Speaker 1: the American people. He's also willing to do things that
13:11
Speaker 1: many other presents were not willing to do. They what
13:14
Speaker 1: they really want to do is just kick it the
13:16
Speaker 1: can down the road. There are these third rail issues
13:19
Speaker 1: that it's described, and what are third rail issues? There
13:23
Speaker 1: are issues that people say, hey, just don't go there,
13:25
Speaker 1: don't touch it. The upside is not worth the pain
13:29
Speaker 1: on the front end. So just don't do it. Whatever
13:32
Speaker 1: you do, look the other way and just move on
13:36
Speaker 1: past it. Don't reform real things. Kick the can. Let
13:39
Speaker 1: that be somebody else's problem, right, I just let it
13:44
Speaker 1: be someone else's issue.
13:47
Speaker 5: And what the President ran on.
13:48
Speaker 1: And what he said was is I'm not going to
13:50
Speaker 1: kick the can on any of these things. I'm not
13:54
Speaker 1: going to sit there and say we'll let somebody l
14:00
Speaker 1: deal with it. That's not what we do here. We
14:04
Speaker 1: are going to immediately get involved. We're going to immediately
14:09
Speaker 1: stand up. We're going to immediately change and correct how
14:14
Speaker 1: we are doing things. And we feel good about it
14:17
Speaker 1: because the American people understand it, and it's a national
14:20
Speaker 1: security issue. As you just heard, the President believes that
14:23
Speaker 1: he's going to do it.
14:24
Speaker 5: But there this also goes back to the core issue.
14:28
Speaker 1: There are unfortunately far too many countries, for far too
14:33
Speaker 1: long they were able to put tariffs on America and
14:37
Speaker 1: hurt America while helping themselves tremendously. And the President said,
14:43
Speaker 1: I'm not going to let you take advantage of us anymore.
14:46
Speaker 1: It's that simple. I'm not going to let you take
14:49
Speaker 1: advantage of us. That's an American first policy. That is
14:54
Speaker 1: a policy that we should all be so proud of
14:59
Speaker 1: that is a let's see that we should all be
15:01
Speaker 1: so happy that we have a president's.
15:03
Speaker 5: Going to do it.
15:04
Speaker 1: And yes, there is going to be moments in the
15:07
Speaker 1: market that are going to move in the opposite direction.
15:08
Speaker 1: And by the way, we're going to talk about that
15:10
Speaker 1: coming up in a moment, because this is a real
15:13
Speaker 1: issue when it comes to the markets. And and we
15:15
Speaker 1: have seen if you stayed in the markets right that
15:18
Speaker 1: what was the saying that, like, you only lose if
15:20
Speaker 1: you sell? And what happened when when all of these
15:22
Speaker 1: tears are announced and the market took a huge dump,
15:26
Speaker 1: what happened afterwards?
15:27
Speaker 5: Pretty quickly afterwards.
15:29
Speaker 1: The markets came roaring back and people made a lot
15:34
Speaker 1: of money. By the way, I'm one of them. I
15:36
Speaker 1: doubled down. I knew the president was going to do it.
15:38
Speaker 1: I knew what he meant. I saw the market drop
15:40
Speaker 1: on a lot of things. I took advantage of it
15:42
Speaker 1: and invested because I knew that the president was going
15:45
Speaker 1: to win.
15:46
Speaker 5: And so I was very happy, very very happy that.
15:51
Speaker 1: We have a present that not only does what he
15:53
Speaker 1: says he was going to do, and it isn't going
15:55
Speaker 1: to lie about it and tells you the truth, and
15:57
Speaker 1: he's like, we're going to do this, like this is
15:58
Speaker 1: what we are going to do, and he wasn't willing
16:02
Speaker 1: to compromise on like that. Isn't that the best part
16:05
Speaker 1: of all, Isn't that exactly what we should want? Is
16:10
Speaker 1: the president that says they're so I'm gonna do and
16:12
Speaker 1: I'm not going to back down, and I'm gonna stand
16:15
Speaker 1: up for the American worker and I'm gonna keep going.
16:17
Speaker 1: And a lot of people, by the way, these tariffs,
16:19
Speaker 1: they've not been paying attention to what's going on. They
16:22
Speaker 1: haven't been I go back to what happened a year ago,
16:27
Speaker 1: and one year ago it's the assassination attempt anniversary of
16:31
Speaker 1: Donald Trump in Butler, Pennsylvania, and I think it was
16:35
Speaker 1: pretty clear then God saved Donald Trump's life to do
16:37
Speaker 1: exactly what he's doing now. I think God is using
16:40
Speaker 1: Trump to lead our country back to greatness. And I
16:42
Speaker 1: think to lead us back to greatness, there's gonna be
16:45
Speaker 1: some really tough choices and tough fights they are.
16:47
Speaker 5: Going to have to happen.
16:49
Speaker 1: But when you look at this one year anniversary of
16:52
Speaker 1: Donald Trump, if you want to know how he's gonna
16:54
Speaker 1: run this White House and what he's gonna do. He doesn't.
16:56
Speaker 1: He understands. I think that God saved his life. I
16:59
Speaker 1: think it's really a big difference between the forty fifth
17:03
Speaker 1: president and the forty seventh president is there's a different
17:05
Speaker 1: level of commitment now from this president to do tough
17:10
Speaker 1: things because he understands that God saved his life. There
17:14
Speaker 1: are so many around him that credit God for saving
17:16
Speaker 1: the President. Then House Speaker Mike Johnson, by the way,
17:20
Speaker 1: Majority Leader John Thune, and a slew of other leaders
17:23
Speaker 1: in the Republican Party took the ex literally today to
17:26
Speaker 1: remember this weekend, July thirteenth, and the role they believe
17:31
Speaker 1: God played that day. Speaker Johnson said, one year ago today,
17:35
Speaker 1: God miraculous. He spared the life of President Trump. He's
17:37
Speaker 1: using him to lead our country back to greatness. He's
17:41
Speaker 1: absolutely right. He shared the video of the moment Trump
17:44
Speaker 1: was struck in the ear and the moment after in
17:46
Speaker 1: which he pumped his fist to finally with that bloody face.
17:50
Speaker 5: The Senate Leader.
17:51
Speaker 1: John Thune, one year ago today, think to the grace
17:53
Speaker 1: of God, President Trump survived in assassination. Attended Butler, Pennsylvania
17:58
Speaker 1: on the Somber Anniversary, saying for peace in our nation,
18:01
Speaker 1: around the world and for the loved ones, uh, he says.
18:06
Speaker 5: And by the way, I couldn't agree with him more.
18:08
Speaker 1: You look at one year and what this president's done
18:12
Speaker 1: last year. You want to know he's fighting for He's
18:15
Speaker 1: fighting for the American people.
18:17
Speaker 5: That's what he's doing.
18:19
Speaker 1: He is fighting for the for the forgotten men and
18:23
Speaker 1: women who our government has been screwing for so long.
18:27
Speaker 1: He's also fighting against people around the world. Vladimir Putiney
18:29
Speaker 1: was ound about Ladimir Putin before he got an Air
18:31
Speaker 1: Force one and injers Air Force Base.
18:33
Speaker 5: Well, what he had to say about what's going on
18:34
Speaker 5: with Putin in Ukraine.
18:36
Speaker 2: You're going to be announcing us tomorrow.
18:39
Speaker 5: Look at it and see what we will see tomorrow.
18:41
Speaker 3: Okay, And we have the Secretary of General.
18:43
Speaker 5: As you know, Europe has announced sanctions. But I am
18:47
Speaker 5: very disappointed with President Putin that I thought he was somebody.
18:53
Speaker 1: That meant what he said, and he'll talk so beautifully
18:56
Speaker 1: and then he'll bomb people at night.
18:58
Speaker 5: We don't like that. We don't like that.
19:01
Speaker 1: So you're now talking about a president who's going to
19:03
Speaker 1: do apparently what other presidents have not done. You gave
19:06
Speaker 1: Vladimir Puttin a chance to go for peace. You try
19:09
Speaker 1: to put it together Vladimir Putin, Unfortunately he's talking about
19:12
Speaker 1: both sides of his mouth. The President's like, all right, well,
19:14
Speaker 1: then there's gonna be consequences for that, and here's what
19:16
Speaker 1: we're gonna do moving forward. And this is just the
19:19
Speaker 1: way it's gonna be. And they're like, well, what are
19:21
Speaker 1: you gonna do today? Right, what's gonna happen today. He's
19:23
Speaker 1: made it very clear what he's gonna do. He's not
19:25
Speaker 1: messing around the White House coming out fifty percent tariffs
19:30
Speaker 1: on copper imports. Trum has decided that it's time for
19:33
Speaker 1: us to protect ourselves on a national security front.
19:37
Speaker 5: He's not messing around.
19:38
Speaker 1: We're looking at other tariffs with allies, the EU, Canada, etc.
19:42
Speaker 1: We're gonna chat about what that means for the markets
19:44
Speaker 1: as well, because that is.
19:46
Speaker 5: Something that's gonna affect all of us.
19:48
Speaker 1: A good friend of mine, Kurt Elliott with Kurt Elliott
19:51
Speaker 1: Precious Metals, is joining me now, and Kurt, I one,
19:54
Speaker 1: I appreciate you coming on, and I've got a lot
19:57
Speaker 1: of questions I want to ask you tonight, Let's start
20:00
Speaker 1: with the tariffs. First off, the copper tariffs that we're
20:04
Speaker 1: hearing about that are at fifty percent, that's that can
20:07
Speaker 1: obviously have.
20:08
Speaker 5: A significant impact of the market.
20:10
Speaker 1: What is all of this tariff talk doing when it
20:12
Speaker 1: comes to the markets, and specifically you you deal with
20:16
Speaker 1: precious metals gold and silver. We just saw a couple
20:19
Speaker 1: of days ago headline that gold had reached an all
20:21
Speaker 1: time you high, three thousand ounces. Since that headline came out,
20:24
Speaker 1: it's up to three three hundred and change, and yet
20:28
Speaker 1: silver still seems to be at thirty eight dollars announced
20:33
Speaker 1: an amazing deal compared to where gold is. But yet
20:36
Speaker 1: gold keeps going up and now silver is moving as well.
20:39
Speaker 6: For is actually dramatically outperforming gold, which in the recent
20:44
Speaker 6: oh last month or so, and so that I mean
20:48
Speaker 6: that is like the biggest untold story for investors who
20:53
Speaker 6: want to protect and preserve and grow and thrive in
20:55
Speaker 6: this markets of complete uncertainty.
20:58
Speaker 1: When you talk about it exploding the way that it has,
21:02
Speaker 1: what are the factors, Kurt, that have made this this
21:05
Speaker 1: market explode worldwide? When it comes to gold, I mean,
21:08
Speaker 1: I've never seen it thirty three one hundred an ounce.
21:11
Speaker 1: You have it as we're sitting here. I literally have
21:14
Speaker 1: a gold eagle in my hand. I have one in
21:16
Speaker 1: my office that's from nineteen thirty three. And if you
21:21
Speaker 1: bought it in thirty three, it did not cost three
21:24
Speaker 1: three hundred dollars.
21:26
Speaker 2: No, it didn't. It was twenty bucks. Right.
21:28
Speaker 6: So, so way back in the day when when gold
21:32
Speaker 6: and the dollar were convertible, you know, prior to you know,
21:36
Speaker 6: everything changing getting us off the gold standard, Nipson closing
21:41
Speaker 6: the gold window, you could go to the store or
21:44
Speaker 6: the bank and give them one ounce of gold or
21:46
Speaker 6: a twenty dollar bill. It was equal, right, So to
21:49
Speaker 6: me as an economist, it's like, okay, what would that
21:52
Speaker 6: buy you?
21:52
Speaker 2: Right? You always have to look at the purchasing power.
21:54
Speaker 6: Well, back then, one ounce of gold or a twenty
21:57
Speaker 6: dollars bill would have bought you a fin tailored men's.
22:01
Speaker 2: Suit, shirt, die of belt, and shoes. Right. So fast
22:03
Speaker 2: forward to today, you.
22:05
Speaker 6: Can't even go to Chick fil A for twenty bucks,
22:07
Speaker 6: but ye one ounce of gold at thirty three hundred
22:10
Speaker 6: still buys you finally tailored men's suit, shirt, tie.
22:13
Speaker 2: Belt, and shoes.
22:13
Speaker 6: See, precious metals actually maintain your purchasing power over time,
22:19
Speaker 6: which to me is the perfect inflationary hedge when when
22:24
Speaker 6: people are wondering, you know, all this talk about inflation
22:26
Speaker 6: and boy to put families in America can't can't afford
22:30
Speaker 6: to live and their their paycheck to paycheck. Well, if
22:33
Speaker 6: you invest properly, at least you can overcome the inflationary
22:37
Speaker 6: pressures where the dollar is collapsing, stocks aren't keeping up,
22:42
Speaker 6: wages haven't been keeping up because of the past administration.
22:46
Speaker 6: And so when we look at that, it's like, okay,
22:48
Speaker 6: look at it as an insurance policy against a collapsing currency.
22:51
Speaker 6: But in addition to that, you've got massive amounts of
22:55
Speaker 6: growth and what we've seen already. Then to answer or
23:00
Speaker 6: short little question, what you might long answer, sorry, is
23:03
Speaker 6: everything that we ever buy.
23:05
Speaker 2: Is a function of supplying demand.
23:07
Speaker 6: Right, So, you've got central banks around the world which
23:11
Speaker 6: are allocating not into hundreds, but thousands of tons of gold.
23:16
Speaker 2: To be a backstop to their currency.
23:18
Speaker 6: The world is changing, We're moving away from central banking
23:21
Speaker 6: as we know it. And on the silver front, it's
23:25
Speaker 6: not just a financial metal like gold. It's used for manufacturing,
23:28
Speaker 6: it's used for stolar it's used.
23:31
Speaker 2: For nuclear power.
23:32
Speaker 6: It's used in the military industrial complex a ton. It's
23:36
Speaker 6: used for battery technology, electric vehicles, all electronics, Like every
23:41
Speaker 6: single flat screen TV you see it best buy, right, that's.
23:44
Speaker 2: Got silver in it.
23:45
Speaker 6: So that's a diminishing supply. When you have low supply
23:49
Speaker 6: and high demand, well then prices go up. To me,
23:53
Speaker 6: that's the bottom line.
23:54
Speaker 1: When I look at the market right now, and look,
23:57
Speaker 1: I was talking about this earlier. With all the tariffs,
23:59
Speaker 1: there some real big opportunities for investors. I believe President
24:03
Speaker 1: Trump when he said he was going to do the tariffs,
24:06
Speaker 1: and I played it, thank goodness, pretty well and was
24:10
Speaker 1: able to utilize, you know, my investment strategy to my advantage.
24:14
Speaker 1: I also have been a big fan of gold and
24:16
Speaker 1: silver for a long time. I have a fair amount
24:18
Speaker 1: of gold, thank goodness, I do, and silver. But let's
24:22
Speaker 1: talk about silver for a second. Silver is saying that's
24:25
Speaker 1: being used in virtually every important thing that we're building.
24:30
Speaker 1: It's in so many different things, and you've got the
24:34
Speaker 1: list that it will explain it. And yet we've seen
24:37
Speaker 1: the price stay relatively low right now, which is phenomenal
24:41
Speaker 1: for people that are looking long term and protections.
24:44
Speaker 6: It is and you know, a few years ago when
24:48
Speaker 6: we started heavily allocating into silver as a firm, it
24:52
Speaker 6: was in the upper teens, literally eighteen dollars an ounce.
24:56
Speaker 6: So in just a three and a half years it's doubled.
25:00
Speaker 6: But and that's a great investment, right in three and
25:02
Speaker 6: a half years. To have anything double would be incredible.
25:04
Speaker 6: But the best is still yet to come because of
25:07
Speaker 6: the world that we're living in, the increasing demand, the
25:10
Speaker 6: diminishing supply. I mean, you're seeing projections now from economists everybody,
25:15
Speaker 6: from Goldman Sachs to people who follow the commodities markets,
25:19
Speaker 6: to the trading desks around the world thinking silver could
25:22
Speaker 6: be sixty to one hundred dollars nowns in the next
25:26
Speaker 6: twelve months, all the way up into the mid one hundreds.
25:30
Speaker 2: Well, when you.
25:31
Speaker 6: Look at that, why it's not just a pie in
25:33
Speaker 6: the sky projection. People in those worlds don't ever say
25:39
Speaker 6: pie in the sky things. When you're working for one
25:41
Speaker 6: of these big firms, it's simply because they know that the.
25:45
Speaker 2: Demand is there.
25:45
Speaker 6: And when you look at what some of the big
25:49
Speaker 6: banks spend have they have massive short positions, and in fact,
25:54
Speaker 6: they've been suppressing the price of silver for military industrial
25:59
Speaker 6: complex for decades, literally for decades, and you have these
26:01
Speaker 6: massive short positions, and so everybody listening, when you have
26:04
Speaker 6: a short position, if the price goes up, you lose
26:08
Speaker 6: money hand over fist. Right, Yes, you are betting the
26:11
Speaker 6: price is going.
26:12
Speaker 2: To go down.
26:13
Speaker 6: So just one day, in one day last week, four
26:17
Speaker 6: hundred and eighty three million ounces of silver were shorted
26:21
Speaker 6: in one day. Perspective, Yeah, to put that into perspective,
26:26
Speaker 6: that's fifty seven percent of all of the global mining
26:30
Speaker 6: production in one year. And there is not enough silver
26:34
Speaker 6: to cover those short positions. So what we're probably going
26:38
Speaker 6: to see in pretty short order is a massive short squeeze,
26:41
Speaker 6: which is why these economists are saying silver is actually
26:44
Speaker 6: about to sort.
26:45
Speaker 2: But what's that going to do to the banks.
26:48
Speaker 6: They're going to lose money handover fist, and they're already
26:52
Speaker 6: under capitalized.
26:52
Speaker 2: Banks are already under capitalized in.
26:54
Speaker 6: America because coming off of COVID in four years of
26:58
Speaker 6: the Biden administration, where the economy was stinky and they
27:01
Speaker 6: had travel restrictions and mass mandates and mom and pop
27:04
Speaker 6: businesses were shutting down everywhere.
27:06
Speaker 2: It's like, why do banks fail?
27:08
Speaker 6: Banks fail simply because they have more withdrawals coming out
27:11
Speaker 6: so people can live than deposits going in.
27:14
Speaker 2: So that's why banks are failing.
27:16
Speaker 6: That's why we saw Silicon Valley and first you know
27:19
Speaker 6: Republican Credit, Swiss and silver Gate and Signature Bank collapse
27:24
Speaker 6: a couple of years ago because they had more withdrawals
27:27
Speaker 6: coming out than deposits going in. Well, this time, with
27:31
Speaker 6: banks undercapitalized in having this massive short position, I think
27:36
Speaker 6: we could see bigger bank failures than the regional bank
27:40
Speaker 6: crisis that we saw a couple of years ago.
27:42
Speaker 1: Final question for you, and this deals with people that
27:45
Speaker 1: maybe are listening tonight and they say, okay, look, I
27:49
Speaker 1: want to be diversified.
27:50
Speaker 5: I want to have not all my egs in one basket.
27:54
Speaker 1: There's a lot of I just go say what it
27:55
Speaker 1: is scumbag comings out there that fear monger and they
27:58
Speaker 1: take advantage of people, especially seniors. They put they put
28:01
Speaker 1: all your money in gold and silver. You guys at
28:03
Speaker 1: kirk Elliot Pressure Nels would never do that. You never
28:06
Speaker 1: say that you're you're a faith based Christian company. That's
28:10
Speaker 1: why I love you guys and having you on. But
28:13
Speaker 1: when you look at this, what should people be looking.
28:15
Speaker 5: At right now? Should they just say, let's take a
28:17
Speaker 5: look and see what there is.
28:20
Speaker 6: I would look at silver first and foremost. I think
28:23
Speaker 6: it's the most undervalued asset on the planet right now
28:28
Speaker 6: compared to everything that's going on, and everything that we
28:31
Speaker 6: just talked about is very bullish for the precious metals complex. Now,
28:36
Speaker 6: not all gold is good gold, not all silver is
28:39
Speaker 6: good silver.
28:40
Speaker 2: So be very very careful.
28:41
Speaker 6: For example, you know you you explained it very well
28:45
Speaker 6: just a second ago. You watch any conservative podcast all
28:48
Speaker 6: over the country, you're.
28:49
Speaker 2: Going to see a gold or silver commercial, right.
28:52
Speaker 6: But a lot of these companies are putting people into collectibles.
28:56
Speaker 2: There's some kind of a commemorative or it.
28:58
Speaker 6: Has somebody's face on it we all know.
29:00
Speaker 2: And love, and it's like, oh, this is going to
29:02
Speaker 2: be great. No, this is the problem.
29:04
Speaker 6: To me, I see these invoices from some of these
29:07
Speaker 6: people that will never ever recover ever because when gold was,
29:13
Speaker 6: when silver, sorry was in the twenty something dollars announce range,
29:16
Speaker 6: I was looking at some of these, it's like people
29:18
Speaker 6: were paying sixty seventy dollars an ounce. Well, nobody wants
29:22
Speaker 6: those when it comes time to sell, except for the
29:25
Speaker 6: company that was making a market for them.
29:28
Speaker 2: If they were to.
29:28
Speaker 6: Sell those back to a depository, they're going to get
29:31
Speaker 6: melt value, which is less than spot price, because they're
29:33
Speaker 6: just going to take those things and melt them into
29:35
Speaker 6: a coiner of bar Right. So here's where you should
29:39
Speaker 6: have been able to get silver for about thirty dollars
29:41
Speaker 6: an ounce. When it gets up to seventy dollars an ounce,
29:46
Speaker 6: all of our clients that bought bullion will have more
29:48
Speaker 6: than doubled their investment, literally doubled. If you paid seventy
29:52
Speaker 6: dollars an ounce back, then you're only breaking even. You're
29:56
Speaker 6: only breaking even when silver hit seventy. I mean, that's
29:59
Speaker 6: the disaster to me, and it makes me sick to
30:01
Speaker 6: my stomach.
30:02
Speaker 5: I want you guys to go visit the website. They
30:05
Speaker 5: do great work.
30:06
Speaker 1: K e PM dot com slash ben that's k e
30:11
Speaker 1: p M dot com slash ben. You can find out
30:14
Speaker 1: more about Kurt Elliott Precious Metals. Kurt, I appreciate you
30:17
Speaker 1: coming on. We'll have you back on time to time.
30:19
Speaker 1: But if you want to come, you can get great
30:20
Speaker 1: intel from great info that.
30:23
Speaker 5: Does exactly just said.
30:24
Speaker 1: Go to k e PM dot com slash ben k
30:29
Speaker 1: E p m dot com slash Ben Kurt always a pleasure.
30:33
Speaker 5: Don't forget Share this podcast.
30:34
Speaker 1: Please with your family and your friends where whoever they are,
30:38
Speaker 1: and I will see you back here tomorrow