Latest / The Ben Ferguson Podcast / Fraud? Feds Investigate BLM’s $90M Windfall plus Silver Market Crisis 2025 w Dr Kirk Elliot

Transcript

Fraud? Feds Investigate BLM’s $90M Windfall plus Silver Market Crisis 2025 w Dr Kirk Elliot · The Ben Ferguson Podcast

0:01
Speaker 1: The Department of Justice, we now have learned, is investigating
0:05
Speaker 1: Black Lives Matter Why for the misuse they're saying of donations.
0:12
Speaker 1: The Justice Department is probing whether Black Lives Matter defrauded
0:16
Speaker 1: donors who sent the organization millions of dollars during the
0:20
Speaker 1: racial justice protests in twenty twenty. This coming from the
0:24
Speaker 1: Associated Press. We also know that federal law enforcement authorities
0:29
Speaker 1: have issued subpoenas and served a search warrant as part
0:33
Speaker 1: of an investigation into Black Lives Matter. The Global Network Foundation, Inc.
0:39
Speaker 1: That helped ignite the protests in US cities following the
0:43
Speaker 1: death of George Floyd in Minnesota in May of twenty twenty.
0:47
Speaker 1: That coming again from anonymous sources. Now, protests in some
0:51
Speaker 1: locations resulted in deaths, lots of rioting, looting, fires, and
0:58
Speaker 1: extensive property destruction. According to the Associated Press, it was
1:02
Speaker 1: not clear if the investigation would result in criminal charges,
1:07
Speaker 1: but its mere existence invites fresh scrutiny to a movement
1:12
Speaker 1: that in recent years has faced criticism about its public
1:16
Speaker 1: accounting of donations it has received. The Justice Department, by
1:21
Speaker 1: the way, has declined to comment on the report. Why
1:24
Speaker 1: because clearly they're working on this and they don't want
1:27
Speaker 1: to tip anyone off. Now, the investigation actually began, just
1:31
Speaker 1: so you understand the timeline here in the Biden administration that,
1:36
Speaker 1: according to one of the AP sources, and has received
1:39
Speaker 1: renewed attention during the Trump administration. The BOM Foundation said
1:45
Speaker 1: it took in over ninety million dollars in donations following
1:49
Speaker 1: the highly publicized death of George Floyd, who was seen
1:53
Speaker 1: on that viral video struggling to breathe under the knee
1:56
Speaker 1: of a white Minneapolis police officer who was later convict
2:00
Speaker 1: did a murder. Now, critics have accused the nonprofit foundation
2:05
Speaker 1: of not being forthcoming about how it was spending the
2:08
Speaker 1: donations that they were receiving that were in the tens
2:11
Speaker 1: of millions of dollars. Critics of the organization have looked
2:15
Speaker 1: at a very shocking moment in twenty twenty two when
2:19
Speaker 1: it was learned that some of the funds that were
2:21
Speaker 1: raised in the name of George Floyd actually went to
2:25
Speaker 1: purchase a six million dollar mansion in Los Angeles, six bedrooms,
2:31
Speaker 1: six baths, a swimming pool, and other luxury amenities. The
2:36
Speaker 1: co founder of BLM also admitted that she used the
2:40
Speaker 1: group's six million property to host personal parties. The BLM
2:46
Speaker 1: leader later resigned in twenty twenty three after much of
2:50
Speaker 1: the information I've just told you went public.
2:53
Speaker 2: The Associated Press also reports.
2:55
Speaker 1: That no prior investigations into the nonprofits finances have quote
3:00
Speaker 1: yielded proof of impropriety. The latest federal form filing, the
3:04
Speaker 1: Wire Service reported, shows that BOM Foundation had twenty eight
3:09
Speaker 1: million in assets for the fiscal year ending June twenty
3:12
Speaker 1: twenty four. The current investigation is reportedly being run out
3:17
Speaker 1: of the US Attorney's Office for the Central District of
3:19
Speaker 1: California in LA. In a statement to the AP on Thursday,
3:24
Speaker 1: the foundation said it is not a target of any
3:28
Speaker 1: federal criminal investigation, saying, quote, we remain committed to full transparency, accountability,
3:36
Speaker 1: and the responsible stewardship of resources dedicated to building a
3:41
Speaker 1: better future for black communities. The Black Lives Matter slogan
3:46
Speaker 1: that first emerged back in twenty thirteen after the acquittal
3:50
Speaker 1: of Neighborhood Watch volunteer George Zimmerman, who fatally shot his
3:54
Speaker 1: seventeen year old Trayvon Martin in Florida, is what was
3:58
Speaker 1: legally ruled a standard ground case. It was the death
4:02
Speaker 1: the following year of Michael Brown, who was shot as
4:05
Speaker 1: he charged a police officer in Ferguson, Missouri, that made
4:08
Speaker 1: the slogan Black Lives Matter a national and later a
4:12
Speaker 1: worldwide rallying cry for leftists social justice. So here we
4:17
Speaker 1: are now the DOJ seeming to do the job that
4:21
Speaker 1: should have been done under the Biden administration, looking into
4:24
Speaker 1: the misuse of the donations that were in the name
4:27
Speaker 1: of social justice but in reality may have been going
4:30
Speaker 1: just to buy luxury houses for the people at the
4:33
Speaker 1: top of the Black Lives Matter organization. Every so often,
4:37
Speaker 1: something happens that reminds us just how fragile our freedoms are.
4:41
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Speaker 1: call you make. Now, all of this is happening while
6:25
Speaker 1: there's another story that is breaking, another shocking story and
6:30
Speaker 1: it deals with Jack Smith. Devin Nunyez is now exposing
6:34
Speaker 1: Jack Smith and telling us that they sought Trump Media
6:38
Speaker 1: bank records, is what we're being told Donald Trump saying
6:42
Speaker 1: these thugs should be investigated. Trump Media and Technology Group
6:47
Speaker 1: Corporation TMTG CEO and former Congressman Devin Unyez on Thursday
6:54
Speaker 1: accused former Special counsel Jack Smith of wilding a shockingly broad,
7:00
Speaker 1: secret subpoena for the banking records of the Trump Media Empire,
7:05
Speaker 1: despite the company not even existing at the time of
7:09
Speaker 1: his underlying investigation. TMTG was among the more than four
7:16
Speaker 1: hundred Trump linked individuals in organizations that were spied on
7:23
Speaker 1: as part of Special Counsel Jack Smith's investigation of President
7:27
Speaker 1: Donald Trump. Specifically, the Smith team issued as shockingly broad
7:32
Speaker 1: and secret subpoena for our banking records, Nunez says in
7:35
Speaker 1: a statement on True Social saying, quote, this is a
7:39
Speaker 1: stunning abuse of power against a private business and are
7:44
Speaker 1: hundreds of thousands of retail investors, especially since Trump Media
7:50
Speaker 1: did not even exist at the time of the events
7:54
Speaker 1: that Jack Smith was supposedly investigating. Nuniez called for answer
8:00
Speaker 1: from both the Securities and Exchange Commission, the SEC and
8:04
Speaker 1: JP Morgan Chase on whether they were aware of the
8:07
Speaker 1: subpoena and whether bank records were actually leaked. According to
8:12
Speaker 1: the subpoena issued to JP Morgan Chase, images of which
8:17
Speaker 1: nowna is shared on social media platform. The demand covers
8:21
Speaker 1: any in all records in your possession, custody or control
8:26
Speaker 1: for all accounts and or trust accounts in the name of,
8:30
Speaker 1: bearing the signature, authority of, or with the ability to
8:33
Speaker 1: be accessed by the named parties below listing TMTG among
8:39
Speaker 1: the named entities. The subpoena spans the time period from
8:44
Speaker 1: September one, twenty twenty to October thirty, first of twenty
8:49
Speaker 1: twenty one, and requests an extensive array of records, including
8:53
Speaker 1: checking and saving account statements, opening documents, wire transfers, ach payments,
9:02
Speaker 1: credit and debit memos, loan and mortgage payments, safe deposit
9:07
Speaker 1: box records, debit card transaction histories, IP addresses, cookie data,
9:14
Speaker 1: and other account inquiry metadata. In other words, a full
9:19
Speaker 1: blown phishing expedition by the DOJ and the FBI. Meanwhile,
9:26
Speaker 1: Smith's investigation, initiated by the Attorney General Meyrick Garland in
9:30
Speaker 1: November of twenty twenty two, has drawn intense scrutiny. The
9:34
Speaker 1: probe encompasses Trump's handling of classified documents, efforts ay lied
9:39
Speaker 1: about to overturn the twenty twenty election, and alleges obstruction of.
9:43
Speaker 2: Justice, and other matters.
9:45
Speaker 1: In recent weeks, the Senate Judiciary Committee leaked documents showing
9:48
Speaker 1: Smith's team issued one hundred and ninety seven subpoenas covering
9:53
Speaker 1: at least four hundred and thirty individuals and entities as
9:56
Speaker 1: part of an investigation dubbed Arctic Frost GOP. Lawmakers have
10:02
Speaker 1: a q Smith of improperly targeting members of Congress and others,
10:06
Speaker 1: and Smith's council nonetheless defended the approach as quote entirely
10:11
Speaker 1: proper and lawful. We'll see where this goes, but there's
10:15
Speaker 1: a very good chance this is the tip of the
10:18
Speaker 1: Arctic frost iceberg.
10:21
Speaker 2: All right. I want to play for you now something else.
10:24
Speaker 1: And this is how we're finding out so much about
10:26
Speaker 1: the corruption of Jack Smith and how he sought the
10:29
Speaker 1: media record, the Trump media bank records, among others, including
10:33
Speaker 1: one hundred and sixty other Republicans that were apparently spied
10:36
Speaker 1: on for no damn reason. Gretav Ancestern on Newsmax had
10:41
Speaker 1: Jim Jordan on to talk about this, and she started
10:44
Speaker 1: with Donald Trump's true social post about what we're now learning.
10:48
Speaker 1: I want you to listen closely to this conversation.
10:51
Speaker 3: These thugs should all be investigated and put in prison.
10:54
Speaker 3: A disgrace to humanity. Deranged Jack Smith is a criminal
10:58
Speaker 3: end quote. Shamed of the Houtradition Ury Committee. They released those
11:01
Speaker 3: fileshile carsman. Jim Jordan joins me, good, you means, sir,
11:04
Speaker 3: and do have all the FBI files on this?
11:08
Speaker 2: Well, we hope, but we're going to continue to work with.
11:10
Speaker 4: Director Patel and get every piece of information we can.
11:14
Speaker 4: God blessed Cash and of course Pam Bondi, because they've
11:17
Speaker 4: been night and day. Difference between them and what we
11:21
Speaker 4: have with Merrick Garland and Christopher Ray. I think the
11:23
Speaker 4: big takeaway here is how much broader and more expansive
11:27
Speaker 4: this was. It wasn't just that they took the phone
11:30
Speaker 4: of a sitting member of Congress when they took Scott
11:32
Speaker 4: Perry's phone. It wasn't just that they spied on eight
11:36
Speaker 4: United States senators. Now we learn it's over one hundred
11:39
Speaker 4: and fifty individuals, key people in the Trump administration, keep
11:42
Speaker 4: people that they went after getting communications, phone records, bank records,
11:47
Speaker 4: all kinds of things they were going after. This is
11:50
Speaker 4: how expansive Artie Frost started out, and how it even
11:54
Speaker 4: expanded even more when Jack Smith was named special counsel
11:57
Speaker 4: and when he took over the investigation, and finally I
12:00
Speaker 4: would say this, Greta, this is why we want to
12:02
Speaker 4: talk to Jack Smith. Why we've asked him to come
12:04
Speaker 4: in for a deposition as soon as possible. We got
12:08
Speaker 4: to ask him questions because we've already deposed two of
12:10
Speaker 4: his deputies, and they took the fifth seventy one and
12:14
Speaker 4: seventy three times mister Bratt and mister Wyndham exercised their
12:18
Speaker 4: fift Amendment liberties. Wouldn't answer questions like was this all political?
12:22
Speaker 4: Were you going after this to undermine and hurt President
12:24
Speaker 4: Trump in a political way? How about any other people
12:27
Speaker 4: you surveilled or spied on that in addition to the
12:30
Speaker 4: eight United States Senators. Both of those questions they wouldn't answer.
12:34
Speaker 4: So we want to talk to Jack Smith, the guy
12:35
Speaker 4: who ran the investigation, find out what kind of answers
12:38
Speaker 4: he'll give us.
12:40
Speaker 3: Do when they went after all these records of these people.
12:43
Speaker 3: Did they have a warrant? Did they get one from
12:45
Speaker 3: the grand jury or assigned warrant from a judge? Do
12:48
Speaker 3: they have a warrant or were they just being cowboys
12:51
Speaker 3: and going through these people, these records of these the targets.
12:55
Speaker 4: Again, questions will ask. I think they did have a warrant.
12:58
Speaker 4: I think they moved that way. But we want to
13:00
Speaker 4: we want to figure.
13:01
Speaker 2: All this out.
13:03
Speaker 4: We knew that Jack Smith had, you know, put the
13:06
Speaker 4: gagolder in President Trump. We knew we had raided Mara Lago.
13:08
Speaker 4: We knew that one of one of Jack Smith's deputies
13:12
Speaker 4: confronted a lawyer for one of the defendants and looked
13:15
Speaker 4: like the offered him. He was kind of almost a
13:17
Speaker 4: bribe situation. He said, we thought you were interested in
13:19
Speaker 4: this judge position. We didn't know you were a Trump guy,
13:22
Speaker 4: you know, kind of hint hint, wink wink. When when
13:24
Speaker 4: they talked to Stanley Woodward. Uh So there's all this
13:27
Speaker 4: that went on, But the big takeaways for me are
13:29
Speaker 4: eight United States senators, a sitting member of Congress they
13:32
Speaker 4: took the phone up, and two of his deputies who
13:34
Speaker 4: we've already deposed who wouldn't answer our questions. So that's
13:38
Speaker 4: why we want to talk to Jack Smith.
13:40
Speaker 2: You know what.
13:40
Speaker 3: The other thing choices when you look at the breath
13:43
Speaker 3: of investigation like this with you know, over one hundred
13:45
Speaker 3: and fifty or even if you go to the lower
13:47
Speaker 3: number that you just you just listed, is that they
13:49
Speaker 3: didn't indict or charge any of these people. So you
13:52
Speaker 3: get sort of the idea that they were just looking
13:54
Speaker 3: for every thing every place you know that you know,
13:57
Speaker 3: you know what could possibly be a legitimate reason if
13:59
Speaker 3: they did, if they didn't strike gold on anybody.
14:03
Speaker 4: Yeah, I think you're I think you're right they were.
14:06
Speaker 4: I think this was political. I think this was the
14:08
Speaker 4: left saying we're going to go after these people. We're
14:10
Speaker 4: going to use this whole alternative elector uh reason as
14:15
Speaker 4: as the basis for why we're doing this investigation. We
14:18
Speaker 4: saw the one email, but between it looked like between
14:22
Speaker 4: an agent and and a and a source talking about
14:25
Speaker 4: former Cheapest staff Mark Meadows was involved in some kind
14:28
Speaker 4: of treasonous activity which was just ridiculous. So this was
14:33
Speaker 4: the mindset. I think it also gets to that who
14:35
Speaker 4: are these folks in the FBI who were putting these
14:37
Speaker 4: emails together saying that there's there's there's reason to believe
14:42
Speaker 4: that the cheapest staff to the President of the United
14:44
Speaker 4: States was engaged in treasonous behavior. That's just ridiculous.
14:48
Speaker 2: But that reason, and it makes no sense.
14:52
Speaker 3: I hate them when they use reason to believe. Okay,
14:54
Speaker 3: the documents that you believe had a lot of black
14:56
Speaker 3: spots on them, a lot of redactions. Is that something
14:59
Speaker 3: you did or the f the FBI did. And the
15:01
Speaker 3: reason that matters is because you really can't read those
15:03
Speaker 3: documents unless, I mean, you know, for full transparency. Why
15:06
Speaker 3: is everything being kept a secret? Basically, there's no I mean,
15:09
Speaker 3: if we want to uncover what happened, you know, to
15:12
Speaker 3: give it, you know, put to find out if anything
15:14
Speaker 3: dirty was done. We really need this. We need to
15:16
Speaker 3: be able to read everything, and nobody should be running
15:18
Speaker 3: for cover with doing redactions.
15:21
Speaker 4: We didn't put the redactions on. That's how they came
15:23
Speaker 4: from the Justice Department. You're right, we need to have
15:26
Speaker 4: we need to be able to read it all in
15:28
Speaker 4: full context. But I would go a step further and
15:31
Speaker 4: say the name's under there. I actually want to ask
15:34
Speaker 4: them questions. I want to find out like, who's this
15:37
Speaker 4: source giving this? Look to me when I read it, it
15:40
Speaker 4: looks like under the redaction to be the source and
15:43
Speaker 4: then the agent who's getting the information. I want to
15:45
Speaker 4: know who that source is. I want to know who
15:47
Speaker 4: that agent is saying these ridiculous things that get put
15:50
Speaker 4: in an email and sent to someone else as part
15:52
Speaker 4: of this investigation. So I think it's even more than that,
15:55
Speaker 4: not just who those what those names are. I want
15:57
Speaker 4: to talk to those people. I want to ask them questions.
16:00
Speaker 4: So that's that's where I think we try to go next.
16:01
Speaker 3: Well, that's the starter, the starters, to find out who
16:04
Speaker 3: they are? Were the redactions done during the Trump administration
16:07
Speaker 3: or during the the Brenda Biden administration or the Trump administration?
16:11
Speaker 3: And who? I mean, who is it? Some someone up
16:13
Speaker 3: in some room with a big black marker someplace? I mean,
16:16
Speaker 3: who's doing these things?
16:17
Speaker 5: Well?
16:17
Speaker 4: I think it's just I think got standard practice at the.
16:21
Speaker 3: Justice which is which is not good?
16:23
Speaker 5: That's good?
16:24
Speaker 4: I mean, And I don't know which one. I don't
16:27
Speaker 4: know which FBI did it. My my gut tells me
16:29
Speaker 4: it was probably That's how the documents were in the
16:33
Speaker 4: ray FBI that director Patel has gotten his hands on
16:37
Speaker 4: now and giving to us. But I don't know that,
16:39
Speaker 4: but that'd be my guest. But my my, my understanding
16:42
Speaker 4: is that's just standard names, uh, phone numbers of agents,
16:46
Speaker 4: phone numbers and courses names and sort of that's just.
16:48
Speaker 2: Standard how they do it.
16:49
Speaker 4: But we want to know now because we saw how
16:51
Speaker 4: broad and how expansive this is. We want to know
16:53
Speaker 4: who those people are so we can ask them questions.
16:56
Speaker 3: Well, if you're then involved in investigation, especially a government person,
17:00
Speaker 3: of your name not blackened out, so that we can
17:02
Speaker 3: see who it is, we can see who's doing what
17:04
Speaker 3: I get if it's a confidential source, it's going to
17:06
Speaker 3: get shot on the street or something if we reveal it.
17:08
Speaker 3: But the fact that some way and I'm told, I'm
17:11
Speaker 3: always told that's the way it's done, well, that's never
17:13
Speaker 3: satisfied me because that usually means it's sort of like,
17:15
Speaker 3: welly things are classified in this town because that's the
17:18
Speaker 3: way it's done. But that's where the lack of transparency, you.
17:20
Speaker 5: Know, And we could get to that.
17:21
Speaker 3: We could get to the end of this very quickly
17:24
Speaker 3: if we could read everything and see it, and even
17:26
Speaker 3: if they turned it over to you unredacted, it would
17:28
Speaker 3: be good. I mean, I realized maybe it won't turn
17:30
Speaker 3: it into the public. But you know, I don't know
17:31
Speaker 3: how you do an investigation when you can't get all
17:34
Speaker 3: the material.
17:35
Speaker 4: Well, we're working on finding out what the name is
17:37
Speaker 4: underneath those those those those black lines. We want to
17:40
Speaker 4: know who the name is or what the name is.
17:42
Speaker 4: We want to know who that individual is. So again
17:44
Speaker 4: we can we can ask them questions like where did
17:46
Speaker 4: the I think, particularly that the email I keep citing,
17:49
Speaker 4: I won't know who that source is because I think
17:51
Speaker 4: it's the source that they were using. Who was the
17:54
Speaker 4: person alleging that the former chiefest staff was engaged? That's
17:58
Speaker 4: just just the most ridicult thing I've ever heard.
18:01
Speaker 3: Well do you know what though, But it's a little
18:02
Speaker 3: bit like when they were using that guy Steel as
18:04
Speaker 3: a source. They kept using it wouldn't tell but if
18:06
Speaker 3: anyone had pulled, if anyone had investigated Steel, you wouldn't
18:09
Speaker 3: have used him as a source.
18:10
Speaker 2: You know.
18:11
Speaker 3: But if you just say the person's a source and
18:13
Speaker 3: black it out, there's no way to challenge whether it's
18:15
Speaker 3: someone who has good information or it's someone's got an
18:17
Speaker 3: ax to grind or whatever.
18:19
Speaker 4: You know that's that's right not to and not to
18:22
Speaker 4: mention the sub sources that Steele was using, who would
18:25
Speaker 4: just further complicates it means there's more lies than that
18:28
Speaker 4: ridiculous dossier that they relied on to get warrants to
18:31
Speaker 4: go spaw on a presidential campaign.
18:33
Speaker 2: No great point.
18:34
Speaker 4: And it's again, this all now has come all getting exposed,
18:39
Speaker 4: goes clear back to twenty sixteen when they spied it.
18:42
Speaker 4: That's when it all started, and we're starting to unravel
18:44
Speaker 4: at all.
18:45
Speaker 2: So that and the reason we want to unravel it
18:47
Speaker 2: all and.
18:47
Speaker 4: Hold people accountable is so that it doesn't happen again.
18:51
Speaker 3: Well, if I were if I were a government employer
18:53
Speaker 3: or anybody, and I found out that they were doing
18:55
Speaker 3: that to me without a warrant from a judge or
18:57
Speaker 3: from a grand jury, I would sue from a constitution
18:59
Speaker 3: r it's been violated because I tell you one thing.
19:02
Speaker 3: You get, first of all, you get a big chunk
19:03
Speaker 3: of change on the government. Secondly, you get a lot
19:05
Speaker 3: of discovery, you get a lot of information, you know,
19:08
Speaker 3: and we find out what the government is doing and
19:10
Speaker 3: not doing. Chairman Jim Jordan, thanks sir.
19:12
Speaker 1: You listen to Jim Jordan there and you hear what
19:14
Speaker 1: he had to say. It is truly incredible they were
19:17
Speaker 1: able to do this and abuse the power of the government.
19:20
Speaker 1: The good news is Donald Trump is making it very
19:23
Speaker 1: clear there's going to be accountability for people that abuse
19:27
Speaker 1: their power in the last administration or any administration if
19:32
Speaker 1: there's evidence of major wrongdoing. You may have noticed that
19:37
Speaker 1: the Fed met and they did something with interest rates.
19:41
Speaker 2: It has now had a pretty.
19:42
Speaker 1: Big impact on the market and that includes gold and silver.
19:46
Speaker 1: Joining me now to talk about what this can mean
19:48
Speaker 1: for your retirement. Your four oh one k is Kurt
19:51
Speaker 1: Elliott with Kurt Elliott Precious Metals. Kurt, So, the Fed
19:54
Speaker 1: did what Donald Trump has been asking for and saying
19:57
Speaker 1: is long overdue. They cut interest rates again again by
20:00
Speaker 1: another quarter point. That is good news and theory for
20:03
Speaker 1: a lot of Americans. What is it doing in the markets?
20:06
Speaker 1: What's it doing with gold and silver?
20:08
Speaker 5: Well, whenever you lower interest rates, it should stimulate the economy,
20:11
Speaker 5: right then, I mean, this is this is why Trump
20:14
Speaker 5: wants it done. He knows this and it did just that.
20:19
Speaker 5: So so gold and silver doing really well. Silver had
20:25
Speaker 5: come off of its high last week. It hit fifty
20:28
Speaker 5: four dollars an ounce very overbought. Literally technically it was
20:33
Speaker 5: very overbought because it went up so fast, so furious.
20:37
Speaker 5: You know, it is up about nineteen percent in two weeks.
20:40
Speaker 5: Then it needed to correct, right, So it came down
20:44
Speaker 5: five dollars in a matter of four or five days,
20:47
Speaker 5: and people thought, oh the world isn't what's up? Silver
20:51
Speaker 5: is supposed to go up, you know what it is
20:54
Speaker 5: because the bed lowered interest rates. Gold and silver respond
20:58
Speaker 5: very well to interest rate reductions because for silver, that
21:03
Speaker 5: means the economy is going to grow. Right, It's like
21:06
Speaker 5: when when you lower the cost of borrowing, when you
21:08
Speaker 5: when you lower that, people are going to spend more.
21:11
Speaker 5: And silver more than anything. Is a is a manufacturing medal,
21:15
Speaker 5: not a financial metal like gold. It's a it's a
21:18
Speaker 5: manufacturing medal. So the propensity for growth, for usage, for
21:21
Speaker 5: extra demand is there. And silver did the turnaround and
21:25
Speaker 5: it's honest, way back up again. I mean, these these
21:29
Speaker 5: markets spend, these precious metals markets are like buoys in
21:34
Speaker 5: the ocean. You just can't keep them down.
21:37
Speaker 1: Right now, It's it really is incredible, and it's like
21:41
Speaker 1: you said, this is a world trading market.
21:43
Speaker 2: When it comes to gold and silver.
21:45
Speaker 1: There's also some changes that are coming to how you
21:47
Speaker 1: can can invest in and deal with gold and silver
21:50
Speaker 1: in your retirement account. That deadliner or that that I
21:53
Speaker 1: guess door opening is coming very soon, and so there
21:55
Speaker 1: also seems to be a lot of movement there as well.
21:58
Speaker 5: A lot of movement, and that's part of the demand,
22:01
Speaker 5: right because once that happens the first week in February,
22:05
Speaker 5: when when you know for your listeners who don't know,
22:10
Speaker 5: it's part of the executive order signed on August seventh
22:14
Speaker 5: to democratization of alternative assets. In four to one case,
22:17
Speaker 5: it's going to allow cryptocurrency direct and indirect ownership of commodities,
22:22
Speaker 5: which golden silver is a commodity, and real estate in
22:25
Speaker 5: a four to oh one k then it's a twelve
22:27
Speaker 5: trillion dollar market like we've talked about before. So people,
22:32
Speaker 5: if you wait until after that kind of marketplace opens
22:36
Speaker 5: its door, well, prices are going to be way high. Right.
22:40
Speaker 5: So people are getting in now in anticipation of that.
22:43
Speaker 5: And that's one thing that I tell investors all the
22:46
Speaker 5: time is I would rather be one or two or
22:50
Speaker 5: three months early than a day late. And something as
22:53
Speaker 5: fundamentally massive as This is it's always better to be
22:58
Speaker 5: early than a day late because daylight you might run
23:02
Speaker 5: out of inventory. You don't know what's going to happen.
23:04
Speaker 5: In fact, London, we have to remember this. In the
23:08
Speaker 5: financial world, financial world and in the precious metals world,
23:13
Speaker 5: all roads lead to London. They do for every single country.
23:17
Speaker 5: All roads lead to London. Well, London is for all
23:21
Speaker 5: intents and purposes out of silver. They've depleted their free
23:26
Speaker 5: flow silver supply. Well, you know, for investors say, okay,
23:31
Speaker 5: we can lock in silver prices, but maybe it's going
23:33
Speaker 5: to be delayed delivery because refineries now are basically going
23:38
Speaker 5: flat inventory. They're not holding anything because the cost of
23:41
Speaker 5: carrying is too high, so they're manufacturing on demand. This
23:45
Speaker 5: is where it gets tricky, Ben. That doesn't work. If
23:51
Speaker 5: you're Tesla or Lockheed Martin and you're making missiles and torpedoes,
23:56
Speaker 5: or your Sony and you're making flat screen TVs, having
23:59
Speaker 5: a one to two delay in delivery times because the
24:02
Speaker 5: exchange is out could mean the life or death of
24:07
Speaker 5: their company. Or if you're an investor, yeah, it's to
24:10
Speaker 5: pain points at stressful. It's like, am I ever going
24:12
Speaker 5: to get myself? It's different when you're talking about a company.
24:16
Speaker 5: So what are they going to do when London runs out?
24:20
Speaker 5: I have a feeling they're going to start going directly
24:23
Speaker 5: to the source. They're going to go to the refineries
24:26
Speaker 5: of the world and say, hey, look, we don't if
24:28
Speaker 5: at silver sixty dollars ounce, we're going to offer eighty,
24:31
Speaker 5: we'll offer one hundred, we'll offer one hundred and twenty.
24:33
Speaker 5: We need to be at the top of the queue
24:37
Speaker 5: because we're not going to pay for it, We're just
24:39
Speaker 5: going to pass it on to the consumer. This is
24:41
Speaker 5: economics one oh one, and it's the lifeblood of your
24:45
Speaker 5: company needs a commodity that the exchange ran out of,
24:50
Speaker 5: They're going to skip the exchange and go directly to
24:54
Speaker 5: the source, the refinery and get it that way because
24:57
Speaker 5: the lifeblood of the company depends on it. I mean,
25:00
Speaker 5: this is what happens in an industrialized world where silver
25:04
Speaker 5: is needed for electronics and aichifs and cryptocurrency mining and
25:08
Speaker 5: electronics and electric vehicles and everything that we use right now,
25:14
Speaker 5: if you don't have it, you don't have the product,
25:18
Speaker 5: and those companies can't manufacture, so they will find it,
25:22
Speaker 5: and we as holders get to ultimately sell into that strength.
25:26
Speaker 5: And that's the amazing part of all of this. To me,
25:28
Speaker 5: there's hope in this message.
25:32
Speaker 2: And hope is the other aspect of this.
25:34
Speaker 1: I think that people are really wanting to ask, is
25:37
Speaker 1: looking forward in the future, where do we see, for example,
25:41
Speaker 1: gold and silver going knowing that there is a lack
25:44
Speaker 1: of silver in different parts of the world right now,
25:46
Speaker 1: and it's being bought up for so many different things.
25:49
Speaker 5: Yeah, I mean, it's being bought up for everything that
25:52
Speaker 5: we just mentioned. But we're still in a war torn economy, right,
25:54
Speaker 5: This is a war economy that we're in. When you
25:57
Speaker 5: look at what's happening with Russian and in the Middle East,
26:01
Speaker 5: and I mean, so missiles and torpedoes need silver, nuclear
26:05
Speaker 5: power needs silver, solar power needs silver, electric vehicles need silver.
26:09
Speaker 5: All electronic circuit boards and AI chips need silver. Right.
26:13
Speaker 5: So it's like, I don't see any of those things
26:16
Speaker 5: diminishing in demand. In fact, I only see them increasing
26:20
Speaker 5: in demand. It's like, oh, wait, there's a problem. Supply
26:24
Speaker 5: isn't increasing. Supply is actually diminishing, right, So when you
26:31
Speaker 5: when you look at what's happening London being out of
26:35
Speaker 5: silver because they have to now buy it on the
26:39
Speaker 5: open market to fulfill the over selling that they've done.
26:42
Speaker 5: This is how they've manipulated the markets for decades. This
26:46
Speaker 5: is not a new thing. Then what's new is they've
26:49
Speaker 5: actually run out. You can't manipulate something where you have
26:52
Speaker 5: no inventory, because if somebody wants it, you could say, oh,
26:56
Speaker 5: well play with the paper price, we'll short it, we'll
26:59
Speaker 5: do this, we'll do that. But ultimately, if you have
27:01
Speaker 5: no inventory and there's an exchange for physicals and the
27:05
Speaker 5: manufacturers of the world needed, they're going to start offering
27:08
Speaker 5: any price and London could go bankrupt over this. By London,
27:14
Speaker 5: I'm talking about the LBMA, the London Boyant Marketing Association,
27:18
Speaker 5: where all the metals are stored. Well does China care? Literally,
27:23
Speaker 5: this is a question we ask ourselves, Well, why wouldn't
27:26
Speaker 5: they just sell They have silver, they've been buying it
27:29
Speaker 5: so as comat Sills India. But all roads lead to London.
27:32
Speaker 5: If it's not in the right place, it can't be fulfilled.
27:36
Speaker 5: So why don't they release it? Well, because maybe they
27:39
Speaker 5: want to squeeze London out of business. Maybe they want
27:44
Speaker 5: to say, hey, look we want to take over the
27:47
Speaker 5: Western financial banking system. We want to take over the
27:50
Speaker 5: supplies of gold and silver and that supply chain globally
27:54
Speaker 5: and have it go to the Shanghai gold extent. So
27:57
Speaker 5: I don't think that China is in this for profit.
27:59
Speaker 5: I think are in this to destroy London as the
28:02
Speaker 5: gold and silver capital of the world, and they're doing
28:04
Speaker 5: a pretty good job at it.
28:07
Speaker 1: Yeah, they really are finally for this And for anybody
28:10
Speaker 1: listening right now, if you want to get more information
28:12
Speaker 1: about what we're talking about here, you can go to
28:15
Speaker 1: k e PM dot com, Kurt Elliott Precious Metals k
28:20
Speaker 1: e PM dot com Kurt. When you're looking into the
28:23
Speaker 1: holidays here, what traditionally do you see with gold and
28:27
Speaker 1: silver over the holidays? And also if you combine that
28:30
Speaker 1: in with the rules that are about to change retirement accounts,
28:32
Speaker 1: it's going to change when it comes to crypto and
28:35
Speaker 1: also gold and silver. Is that going to change things
28:38
Speaker 1: over the next ninety days.
28:40
Speaker 5: Well, generally during the holidays it's low volume trading, you know,
28:44
Speaker 5: the markets kind of come down a little bit. I
28:47
Speaker 5: don't see that that's going to be the case this year.
28:50
Speaker 5: This year is something completely different again. The fundamentals of
28:54
Speaker 5: what's going on. Are there going to be tariffs on
28:57
Speaker 5: strategic metals or are there not? Is there going to
29:00
Speaker 5: be continued war or is there not? About what about
29:04
Speaker 5: the consuming public? Are they going to keep spending or not?
29:07
Speaker 5: There's so much different this year that I don't see
29:10
Speaker 5: a downturn in metals prices really during this holiday season
29:14
Speaker 5: like we normally see. Then you add to that the
29:16
Speaker 5: black swamp of the Executive order and gold and silver
29:20
Speaker 5: being available for four to one k is you know,
29:23
Speaker 5: if the administrators will allow it. You know each company.
29:27
Speaker 5: I mean, we've got a lot of built up demand.
29:29
Speaker 5: This holiday season I believe is going to be different.
29:32
Speaker 2: It's going to be very different.
29:34
Speaker 1: Don't forget if you want to find out more about
29:36
Speaker 1: what they do at Kirk Elliott. I just bought into
29:40
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29:43
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29:46
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29:50
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29:52
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29:56
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Speaker 1: out more from them. K E p M dot Com.
30:02
Speaker 1: That's k E p M dot com Kurt Elliot Precious Metals.
30:05
Speaker 1: Check them out there. Kurt, always a pleasure and I
30:07
Speaker 1: really appreciate.
30:08
Speaker 2: You coming on.
30:09
Speaker 5: Oh you bet, it's my pleasure.
30:11
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30:13
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30:15
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30:18
Speaker 2: Button and I'll talk to you again tomorrow