David Morgan a big-picture thinker and his main focus is—educating people about honest money and the benefits of a sound financial system. His ideas can be seen in the movie Four Horsemen. I'll have to check that out. I know I've heard about it. As publisher of The Morgan Report, he has appeared and has been featured on: CNBC,(we won't hold that against him), Fox Business, The Wall Street Journal, Futures Magazine, The Gold Report and many numerous other publications. The first time I heard about David was last year at Anarchapulco and from what I gathered about David from other attendee's is that his presentation was one that people didn't want to miss because of his impeccable reputation.
Some of the topics we get into include:
I want to start with how you got into this space
Whats your background, how you got hooked up with the Anarchapulco community.
As a highly sought after speaker how can you compare Anarchapulco to other conferences you've spoke at in the past.
Can you give us any highlights on what you might be presenting this year?
-Trace MAyor who is an early crypto adopter talked about you should have a certain amount of crypto you never sell and another amount you can trade based on oversold or overbought conditions.
Is that sort of your philosophy as well or do you just advise people stack silver. -Do you recommend people keep silver as their money vs lets say $250k in the bank?
Money vs currency. For people listening who might not have a gazilion dollars what the best way for them to get started. Go to a local dealer and buy junk silver. Stack small amount of bullion they bought offline. What are some things the average person needs to be aware of because I'm sure there are all sorts of numismatic scams with ridiculous mark ups that targeted to 80 year olds or people just getting started who might not know any better.
Tim Picciott: [00:04:27] Welcome to the Liberty advisor show. Today we have a very special speaker and guests with us.
Tim Picciott: [00:04:31] We have David Morgan of The Morgan Report and he's also a fellow TDV investment speaker speaker. David Morgan is a big picture thinker and his main focus is educating people about honest money and the benefits of a sound financial system. His ideas can be seen in the movie Four Horsemen and I'll have to check it out. I saw some of that a little bit of that yesterday. And as publisher of the Morgan poor he has appeared on and been featured on CNBC. We won't hold that against him. Fox Business Journal features magazine. The Gold Report and many other numerous publications and the first time I heard about David was last year at an archipelago. And from what I've gathered about David and from other attendees is that his presentation is one that people did not want to miss because of his impeccable reputation. And I can't say I remember all because it has been about a year but I do remember that I did attend your had your talk last year and look forward to hearing you again. And you guys can follow David's work and subscribe to his premium content at the Mord airs at MorganReport.com And I'd just like to welcome David to the show.
DAvid Morgan: [00:05:37] Thank you so much. The Morganreport.com and appreciate the interview.
Tim Picciott: [00:05:42] Thank you. No no no no problem. And you know as a highly sought after speaker and someone who speaks a lot of conferences you know how do you get tied in with anarchy spoken.
[00:05:52] What do you think of I know how and Anarchapulco really kind of stacks up against other conferences that you speak to at least liberty minded conferences.
[00:06:02] Well probably because I've known Jeff and I mean Jeff was on the same speaker circuit that I was. And so we would cross paths from time to time in one of the conferences that we attended together was run by Kerry Lutz and that was basically kind of a freedom type of conference more so than just an investment conference. Greg Mannarino another pretty well-known names were there. And so I asked the presenters not the presenters but the host the event manager. You know what they really wanted and they said well you know you know credit wherever you want and so I stressed freedom as my talk and it was interesting to remember this day that Jeff said after I heard David speech I decided to redo my entire speech so he got up and kind of did it off the cuff. So that was kind of I think one of the main reasons we known each other for a long time. You know I think we watch each other growing progress progressed you know two steps forward one step back kind of a thing. And when there's couple conferences where they say Jeff wasn't at his peak performance but I never held against him I know certainly I would say him a father figure to him although I'm probably 20 years a senior. But you know I would say from the public record as far as I'm concerned. Jeff's grown a great deal over the last five years or so. Always respected his intellect always respected is besting abilities always respect his honesty. But let's say that all of us you know can give to our best. But none of us should ever be perfect but I've seen him out of house too much. But I'm honored that he's always included me in the in the conference because you know I'm very outspoken and I'm very opinionated. But it's a study view in most cases not just because I want it to be so it's because history has taught it such and such Yeah I know that's that's really interesting and could give us any insights on what you might be talking about this year down there at TTV. Boy it's a tough one. You know everyone expects something about the silver market which you know I say a few words about the precious metals but I think my main thrust Esurance still putting it in my head is going to be the future and watching with the big question and this is a question for me. I don't have an answer. I want people to think about it is the next move up in the block chain going to be gold and silver backed crypto currencies. QUESTION So I'm going to make a case for why or why not. Well I'll leave it as an open ended question but I think there's been a big shift between the initiation of the watching methodology and a lot of these thousand types that are basically nothing more than their are in disguise that really have nothing of value behind them have fallen the wayside. Bitcoins off from you know whatever it was 19000 dollar high to 30 400 or so recently. So. I think there's a lot of questions surrounding that whole sphere. I don't claim to be an expert but I do claim to be a pretty deep thinker and critical thinkers so my lecture is going to revolve around that to get people to think about it critically and what place does it hold and that's an individual choice. You know I mean if I claim to be a libertarian and you know slash anarchists in the true sense of the word we're really means then certainly it's up to the individual to determine whether or not that regime that methodology suits their needs or does not. I'm certainly not going to say that it's right or wrong for anybody that determines that themselves.
[00:09:53] Yeah that's one thing you point out with the language is that none of the terms really mean what they really mean.
[00:09:57] I mean conservative doesn't really mean conservative and liberal doesn't mean liberal an anarchist doesn't mean throwing Molotov cocktails through government buildings with mask on your face. And so you know they've just really stymied the language and I'm glad you brought up the crypto currency backed block chains because today and zero hedge I was reading an article where it was talking about somebody who is trying to take I believe silver and gold out of the country and he was different. You know maybe stacks of you know silver eagles and they were basically you know giving him a very hard time for trying to move the silver out of the country. And so you know people were commenting that you know one way to get around this would be to use different Goldman silverbacks crypto currencies. I know people like you know Peter Schiff has his you know I believe has some sort of gold card but I didn't I couldn't find my social security cards I couldn't sign up for that one. But you know what is. You know I guess you know sort of jumping around here. What would be sort of you know one of the better ways for someone who maybe just starting off to get into silver because there's got to be so many different ways you know you've got people out there who are selling different numismatic coins and I'm guessing that's probably the number one way to get ripped off is that you know you see you know several people you know probably an older generation I guess maybe targeted to the more the Fox News crowd where they're you know buying high premiums or they're probably never going to recover those and then you've got you know other people where I've got you know the different gold bank credit cards and silverback credit cards that size debit cards and then you've got you know people that are maybe just going out to their ponds store and buying junk. So very early you know for someone is just starting off I mean do you recommend that just you know plain bullion and nothing really fancy and is kind of stick to the basics or what would you kind of recommend. I mean first I'd probably recommend they go to the mortgagor report that come up and actually get you know educated on this stuff but because no one no matter what investment it as you just don't want to jump into it because I heard someone on TV or you heard you know a podcast but somebody's talking about you know why you should go buy something.
[00:11:57] Exactly. I think the best is just to type in any search engine 10 rules or the 10 rules of silver investing or 10 reels of silver and besting Dasch David Morgan.
[00:12:10] And now bring out their spin. I did a whole video. First of all I wrote the generals are investing for the investing rules book years ago maybe almost two decades ago now. And that still applies. It also I did a video series of it that's on my YouTube channel and I've had a few interviews over the years about it so there's lots of information. The ten rules are very sinked. You can find them pretty easily. The YouTube channel embellishes them goes through each one and so on. You know my wonderful voice over about you know each role I kind of expand. But that's the place to start.
[00:12:49] But in a nutshell you start with real silver First you buy the lowest premium you don't buy anything that's got a premium on it much above the content. And that's where you start. Going off to the watching. This is what I would recommend for people that are sophisticated investors maybe destined for three to five years understand financial terms than a loss or two. They've accepted that they don't expect to win and everything that they touch and then a portion.
[00:13:19] Of their holdings can go into the watch. If they so choose. I think it's a great way to diversify and there's a few that I like. I've looked at a few that I am neutral on and I don't have time to study every one of them. One of my analysts basically spends all his well almost all of his time every month writing the block chain review that we've been doing in the morning report now for well over a year. I know Jeff adopted on the block chain earlier than we did. Personally I'm really not that favorable to most of those to be honest with you I am still watching methodology and amphibious asset backed ones. But again that's not for me to tell you what to do coming back on point.
[00:14:04] Certainly it's a great way to store metal spend metal and not have to worry as you just outlined that started this. This is part of the discussion that hey look I need to leave it's my property and what right to some authority figure have to stop me and question me about my personal property whether or not I can take it with you or not.
[00:14:28] Come on. That's about as anti freedom as you can get. As you well know it happens all the time.
[00:14:34] Yeah I've got a term I've come up with where it's fine for people that are freedom in name only. And you know we know we salute to all these different freedom oriented stuff but when you take a look at you know just even current events like what they do.
[00:14:47] ROGER STONE we've got you know 27 you know armed men breaking into a 67 year 66 year old political consultants house just you know you got to ask yourself how much freedom you know do we really have and I guess another thing I want to bring up is one of the big coin as you get some feedback. So one of the big coining early adopters is traced Mayer. You may not know him. So it would trace it. He's come out with some as recent videos inside at least regarding crypto that you should have a certain amount of bitcoin that you know that you're holding onto that you're not going to sell it. You've got a certain amount of. Precious metals or bitcoin that you that you would trade rather. I imagine you probably have a similar you know probably philosophy where you know you should have you know probably a certain amount of silver that is just there stack it's for when you know you know what eventually hits the fan I mean no one's has a crystal ball on when that's going to happen. Certainly you're probably in the same camp as me that you're probably more surprised that it's gone on this long and that is that the noose around her neck has gotten even tighter and tighter. But is that a strategy that you'd recommend that you know you've got maybe a certain amount ofI.K. No it's at 46 dollars. Good times. Maybe trim some of her positions and that is why to get more more feedback on your strategy.
[00:16:03] Absolutely. I mean basically we broke down the Morgan report is top tier mid tier at specular situations and then every time the market is well and you know there are so many people that seem to know everything and put it out on the Internet and they really unfortunately really don't know that much. And certainly I'm a at all. Not a know it all. And learning more doesn't mean I'm perfect. But if you're willing to trade these markets you really do yourself self service. The problem is most people over trade you not know how to do it effectively. And that's one of the things I teach my premium members it's exactly how I do it because it's exactly how I am doing it.
[00:16:38] I make a video as an outsider but certainly as a corporate position that's kind of your legacy investment for most of my members there that's going to go to their kids or to charity or whatever they choose to do with it.
[00:16:50] Most of them don't need it some do. And we don't don't know the future maybe all of us will need. It's hard to say but that is the philosophy and I think that's a good one because again even though people say oh you can't time you can't trade can't you can't that Canalis just means nothing blah blah blah blah. Look I've got 40 something years in the market.
[00:17:12] I've been investing since I was 16 years old. I've been frikken every seminar out there and that's worth a darn. And most of them are out there now really aren't my opinion. But you know I've talked to some of the best out there. And I've got to learn from William O'Neil founder of investor's business daily. That guy probably does a lot of the word Buffett but he's so modest you just keeps his mouth shut. So you know ups are getting a bit of the rant but no you want to maximize it the problem and most people is that it won't stick to the plan and stay consistent. They hear about trading plan ABC they buy it. They put them there. You know the machine they trade for while it works for a while is really great. Then we hear about trading plan X Y Z is better than the PC which forces in the middle of the stream. And this is really bad. You have to have and you have to also have one that suit you. I mean I cannot they trade. I've got friends that can't watch you like seen it have even gone down to one of the best in the country that teaches day trading and it's just a big headache for me. It's just like playing a video game. I'm not a video game type you know. For me it's just no but position trade. You know when I got into the silver at 19 and got out of 48 I mean a lot of people left the report. The lead they followed me into that train are pretty happy with top.
[00:18:34] Yeah and people are always you know I'm sure is sentiment probably plays into a big part of this. You know it's mean when everybody wants something it's usually it's time to be trimming your positions or used that some risk management techniques and when nobody wants something that's usually the best time to buy.
[00:18:47] I know I moved here and not to Arizona in 2011 and everyone's like don't you know the real estate there crash and what are you doing. Only an idiot would go down there after Mike. Yeah well you know let's see who is the one man's fame. I actually just sold a house so now I'm renting so I'm hopefully tired that out. Exactly perfectly but but who knows. I mean not giving any blanket financial advice and unfortunately it was the caveat I am a financial adviser so you know unless I'm your financial adviser and you're listening to this this is all you know you should talk to your own adviser and study all this stuff up. We're not getting any no blanket recommendations. You know people should definitely do they should definitely do that. And I guess you know switching gears here a little bit on the economic side it just seems like so many things are so crazy right now with everything that's going on. I mean you had what was an October 3rd the Federal Reserve came out and said you know we're nowhere near the natural rate of inflation and then three months later actually we're very close to a natural rate of inflation. And I actually sent out a e-mail to the for the people that opt in. When I spoke at CdV I only sent out like 4 e-mails maybe all year one of them came out October 4th I made October 2nd basically going over a whole litany of reasons of why this is not the greatest economy in the history of the world. And I've lost and I did lose quite a bit of followers for you know. You know because they take it so personally that it's an indictment against Trump when you know there's a lot bigger things than Donald Trump. I mean there's you know you can put Jesus in there you know to run everything and there's no way you're going to fix anything unless you get rid of the fact that the money is based off of debt. So for me what I see is the biggest problem going on of the biggest issue going on right now is you know you've got the you know the Federal Reserve have the 50 billion dollars a month that's going off their balance sheet. Then you've got European Central Bank who last month stopped their you know money printing quantitative easing program and it just seems like those are just such headwinds that you know eventually it's only a matter of time before the rates are going to be cut back down to zero. And then at that point there's so much uncertainty because it's like the people realize at that point OK the game's up and we're we're stuck at zero forever which actually in 2011 I wrote a client an e-mail saying that the Fed is stuck in a rock and a hard place. And I broker dealer at the time actually who intercepted the e-mail and slapped me on the wrist saying you know you can't say that the Fed is between a rock and a hard place so I mean they they literally like handcuff you as an adviser and I had to have clients you had to sign waivers if they wanted to keep more than 10 percent in cash because they're worried that theS.E.C. will then come down to them they're charging people for which you know last year being in cash was actually you know one of the top positions you could be in but you're never going to hear an adviser actually say that. So I guess sort of rambling on this right now but you know what do you see as the biggest economic threats that are going on out there. You know for me it really can kind of shake out you know one or two different ways you know either. You know when the Fed eventually lowers rates then maybe the stock market and you know goes to infinity because people you know realize that we've got to keep printing more and more money or people realize hey you know what this economy is not as good as we've been told and then things can go down and so it's just such an uncertain time right now. And eventually I did see that in the long run. I guess in the long run are all dead but in the long run.
[00:22:08] I absolutely see that the Fed is going in all the central banks are going to have to keep printing more and more money.
[00:22:14] And in the long run I don't see how that's going to be bad for precious metals and with people not paying attention to gold and silver. By and large I mean obviously our audience does. But you know the average person that's out there is not really paying too much attention to gold and silver. And so just what kind of focused on the biggest economic trends that are going on are threats or kind of I guess perfect storms that are brewing that are on your horizon right now.
[00:22:39] Right I think we all it perfectly. I really don't have much to add. Just stay a couple things. One is these things always end badly. It's the first time it's really a global problem. I mean in years gone by in monetary history you had the event took place you know why our republic is often referred to in court Zimbabwe but that's basically very important to those nation states or nearby countries that's around them perhaps but nothing like what's going to take placeU.S. dollar dollar failure. Most of us yourself included going and making the presupposition you can counter this if you choose to presume something valid but most people think that and rightfully so that the markets are so manipulated that the Fed itself and the central banks at large can control interest rates up and down because they don't.
[00:23:30] Been doing it for so long but there still is a chance that when the markets start to manifest into what I would call a natural law that the interest rates actually go up because the market says I don't trust these dollars. The only way a hold for a long term bonds you'd have to pay me more or I'm get rid of it.
[00:23:54] So it is possible that the market forces could take over. You could see higher interest rates that the Fed does have control over the central bank lose control. That's not really you know scientists want to point out possible but not very probable these days. So you either have the fall on the on the long term of just one second was that I just want to make sure I understand you.
[00:24:17] It's it's it's more than likely that natural law will take over or that the Fed is going to keep gaming things forever. I just want to make sure I understood which way you are right now.
[00:24:27] I don't want to try. It's inevitable that natural law will take over. What I'm pointing out is the most likely scenario is not when they outline that that natural forces take the interest rates to where the market terms they should be. So I mean if that as a thought experiment knowing that this debt cannot be paid back. And if you're going to loan money long term with a note of 10 years or the long bond at 30 years I mean what kind of interest rate would you really expect for that kind of risk. And I'd say well minimum of 5 percent more like 10 percent. But if you win at those rates we crash the market because you wouldn't be able to pay back the interest on the national debt whatsoever. So that's a least likely scenario. But I just want to outline it. Get it on the record. If you look at general policy where if you took one summer several years ago and did a study of what happens in these inflationary environments if you are on a fiat system only and in every case of the study basically they went into some type of hyperinflation and destroyed the currency. So that's the most likely and that's what all of us talked about for so many years where the dollar that's you know the 1913 dollar for people that don't know when it follows you does is worth about 3 cents right now. So what we're really trying to determine is what value of that three cents will remain over the next you know six months three years five years or 10 years. And the answer isn't much and no one knows how fast it's going to decline. That's what we're really talking about. So it's a psychological event. It's not a pinpoint because the bond market or whatever there could be a trigger like the traditional bank in the Great Depression. No no named bank that didn't mean anything meant everything. Looking backwards.
[00:26:19] But the idea is that the most likely scenario is the dollar becomes worth less and less and that it's worth less or nearly so. And that's when we have some type of reset. And this is when people will do anything. Again it's a psychological event. This is not that people will even understand the precious metals and are part monetary history most while 90 percent 95 percent after it's all over and it's reset we have no idea that gold was a protection no although those nasty speculators mean a pile of money which they didn't. Gold doesn't change the fact that someone holds remain the same. It's just what is it valued out in the market place far higher than what it was previously. So I digress. But I think the most likely is destroying the currency that's usually happens. I want to also say that don't get the idea that the hyperinflation is going to be a Zimbabwe type of event. It won't. There's too much of a counterbalance in the bond market because as interest rates get squeezed higher and the currency is being destroyed there will be a bond sell off which will send you to trades higher how much higher. I don't know but there is a counter balance that's highly deflationary at the same time the currencies are being destroyed. So you have these two countervailing forces that are very very strong taking place in the market place the best place to be is to live within their means have some savings in real money and be able to weather the storm. Do not count on hyperinflation bailing you out of any investment in real estate. I think anything that's leveraged debt is probably going to have a problem. The way I see this unraveling that most economists will tell you that but I will think you need to live within your means don't be over leverage and certainly look at digress again but look at the 30s or even previous to that these recallable loans and you got to check your fine print on your mortgage but the bankers came in and basically destroyed people deliberately by saying hey John your mortgages and those days 6000 dollars which would be like six hundred thousand now we're calling that. Do either pay off your house or we've taken it back. And these people are flabbergasted. No idea it was callable. So. I just want people to understand that inflation. Could be relatively modest compared to what happened in the Weimer Republic or in Zimbabwe. Meaning only 10 or 20 percent which is huge and destroy the economy doesn't have to be you know issuing a you know 500 billion dollar note in the next week you know billion and I guess many ideas have their way. And it's amazing how much on a basic point with so many different things because when I was interviewed last year by Ian Freeman our Free Talk Live right.
[00:29:20] As in her Koboko starting I was the first person interviewed and I mentioned that eventually the Fed is going to lose control and I don't think initially understood what I was talking about. He's like Oh don't we want that bad so there's control. And so I mean I don't even want there to be a fad. But the point was exactly what you're making is that eventually they're not going to be able to say hey the interest rates you know 2 percent you know and there's only so much bringing that that they can do that they could lose control of this whole thing completely. Especially when we go from you know you know printing you know billions of dollars of trillions of dollars. Now all of a sudden we're you know having 600 billion dollars a year you know being you know blown off the balance sheet. At the same time you're having what is it the Treasury is going to have to at least issue probably probably about a trillion and a half dollars this year during the greatest economy in the history of the world. Somehow I don't understand how you know we printed one point three trillion extra dollars last year. All these people still think it's the best economy. And so you've got all these different factors. I mean not to mention you know we didn't even get into the demographics where you know in 2008 the baby boomers were only just turning 62 years old. Now you know it's 10 years later so I guess 11 years later so now they're you know they're going to be 73 and they're forced to take money. The oldest ones at least are forced to take money out of their IRAs and for one case for their required distributions whereas in 2008 they weren't forced to do that because they weren't old enough. And so you're going to going to see and this is actually what I'm going to give my presentation and our kiboko on is on a sequence of return rest where it doesn't really matter what your average return as is really more important what the order of those returns are. So it doesn't matter if you're in bitcoin and averages a thousand percent a year if you got 19000. I mean so you know at that point doesn't really matter what the average averages and then also how it ties into interest rate risk where these pension funds right now I think on average are about 35 percent underfunded which I got in trouble for saying that last year too but I was still employed by my current broker dealer because they said you know hey this is your opinion that they're going to go belly up and that are you getting these facts from. I was even quoting like it was even like the government's own pension actuaries reedman saying that the state and local governments were 35 percent underfunded. So they're going to get absolutely walloped from every single direction. Is my sort of my thesis on what's eventually going to happen. It's not really that crazy of a prediction it's like you know I put you know you know I put this glass in the fridge and I'm predicting it's getting a cold. I mean it's not like you know it's nothing nothing really crazy and I have seen some other so I'm going to have on our next guest next week is going to be Tom had now who's very familiar with his work. But I know that he is of the opinion that the and this is where I wanted to kind of counter him on that the rates are going to stay low forever because they can't afford to go up and I do. You know I agree with him that they can't afford to go up. But eventually what the Fed wants to do versus reality and what the market dictates could be two separate things. And to your point even if we only had you know 10 percent inflation every seven point two years. Everything you buy is going to double in price. And so then you've got all the dupes out there who don't even realize you know why they're getting poorer and poorer and they're going to you know then call to tax the rich. When I think it was like a third of Americans can't even name all four grandparents let alone you know understand who is you know how real money works because you've got a difference because what we have in our pocket is currency it's not actually money. And so that's a very important and I did. So I've only listened to a very few of your words and yesterday when I was picking up my daughter I listened to I thought it was the four horsemen read another interview that was talking about you and the four horsemen I can't remember the gentleman that was doing it but you had mentioned something that I thought was a good point where you had mentioned that most financial advisers like myself say hey you don't want me with most. It's like loving me when most economists mean they're always wrong. So I don't want to be lumped in with them. So when it comes to you know saving and investing people you know will say hey keep at least three months on the sidelines maybe if you're single it's better to keep six months on the sidelines. And for me you know if I had a client who let's say they needed to keep you know 50 thousand dollars to keep you know they're there needed expenses you know I would probably rather have them keep that in silver and keep that in in fiat currency. Now there is no day to day expenses. Is this cash flow I mean you obviously want to have some sort of currency you know to meet meet those obligations. But for the longer term hey I want to keep this year for six months but. I don't necessarily hope I don't need it at all. I think the odds of you keeping your purchasing power and sober is going to be a whole hell of a lot better than if you. Just kept it into. Vietnam I thought that was a brilliant idea where you were stating a hey you know it's. Better to keep this in the silver and you're in your own opinion. So this comment to your your feelings on that.
[00:34:15] Well thank you. Yeah it's just validated it. I think it is important. I think it makes sense you don't need to leverage or anything else you can start a savings plan. Even millennials might have modest incomes are relatively modest. Big numbers but doesn't buy a lot these days. They start you know buying silver pretty easily. The other thing is I have a video I think it's in the 200000 range and I don't have many that have that many use but it's called I think missed in the silver market myth MIT s in the silver market might point out in that video it's only about 10 minutes long or less that the amount of silver that's mine on an annual basis. If we had some kind of cover silver there's so little silver so precious that people understand that it would. So not only undervalued but underappreciated. I'll just go through that video really quick. But at the time I made a video which is probably a decade ago the annual mind supplies is about 750 million ounces. Today it's about 850. And so I said if everybody United States or bought a little silver Well let me digress a moment. One of my biggest pet peeves is most coin dealers not all will say something off the cuff like well everyone should have a little precious metals like. It's important they get it's their business but you know because of monetary history everyone should really be educated about why precious metals are important. And then after that I would add everyone should have little. So how do you define a little you know so I define a little as two ounces of silver and I said at the population mountain states rounded up as roughly 350 million people. So if everyone in the United States not just families but you know mom dad all kids every being that's aU.S. citizen quote unquote bought two ounces of silver that would be 700 million ounces. So that would basically take care of the entire mining supply for one year and then pointing out that two ounces of silver at the time is about 30 bucks and or maybe it was 30 an ounce I forget. But what I'm suggesting is 30 dollars are quote unquote dollars Federal Reserve. Now it's not going to change anybody's life significant. I mean you have two ounces of silver it may help you might get a few meals it may you know do whatever when Silver peaks but it's really not going to get you through for weeks or months. And that amount of silver held by theU.S. citizens in this theory in this thought experiment is five per cent of the world's population. So I went on to say well just think what if the whole world had a little bit a silver one ounce half an ounce. Nor would it be so people don't understand the true meaning of a silver stream. I mean we are on a silver standard the people that were against it most were people that really started it which was the pound sterling. It was the Brits Redskins clearly see very early on that having honest money in the system was not something that was going to work for them. Meaning the banking elite. So they basically solved the problem by offering the silver standard at moving on gold standard not something that does all speaking about tomorrow when I'm in mean I. But call it debate with a friend of mine. Good deep thinker. Sure it'll be a lot of fun for both sides. I don't think it's really meant to be an argument just more or less meant to be discussion but he's going to question me about the monetary aspect of silver of course. I thought about the debate the interview the discussion really is there's two sides to it. One is silver money legally in the answer's absolutely complete 100 percent. Yes silver is still lawful money. So that can't be debated. So lots still money but is it economically the money and that's where we get more discussion because who's going to walk into a Wal-Mart with constitutional silver which is a good place to start. By the way back to your earlier question you know bag of what's called John called constitutional silver but a quarter it looks just like when you pocketed through the United States. But it's silver 90 percent you can walk in with four of those and buy a pack of gum. And Wal-Mart. Now I know you're overpaying by a huge factor would not even be advisable to do that sorry advisable to do it but it could be that. So that's my point. And that's that's a good point because I'm one of these groups that I see on Facebook where you know they're trying to pull the heartstrings and they call it patriotic millionaires where it's basically these big time leftists who are trying to say why the taxes need to be you know 80 percent and why you know there shouldn't be why people shouldn't even inherit any money and these are you know rich guys that are saying.
[00:39:17] Saying this so they must be you know virtuous by you know what I wish people could understand especially lower down in the socio economic spectrum is that if you were let's say in 1964 and I don't know with a dollar what the minimum wage was back then but let's say it was you know you know two hours but dollars let's say if you expressed that you were getting paid you know a quarters or those you know a quarter is today you know would be where it was at like 30 bucks. You know it could be worth today. And granted 90 percent silver. So it's not really it's the fact that your money purchasing power is as you were mentioning earlier being worth less and less and less and so you can you can raise the minimum wage all day. If you can raise the 15 March just raise you know 50 dollars an hour and raise the debt raise it Rumis a million bucks an hour.
[00:40:06] And I guess if I guess they know the Democrats and let you know maybe they can make everybody billionaires if we have enough you know inflation and just a billion dollars won't buy you anything at the rate at the rate that they're going. And it's just it is his wish that I can at least try to get my generation because unfortunately I don't like being lumped in with the millennials. But I'm in at the at the I guess the older end of the millennial spectrum which I feel like I've got no you know especially I went to a liberal arts school.
[00:40:35] I mean somehow survive living in New York with my head screwed on it it really almost has radicalized me even more because I realize that everything around me was just so wrong. And I mean I took a class on the Federal Reserve where we won the gnashed there's a national competition on the Fed where basically you act like you're not at the time Ben Bernanke. And this is 2007 2008 and I was being told you could never have another financial crisis again because everything that happened after the dotcom bubble we've shore up the system and this is why we were technically in a recession or just about to go into recession.
[00:41:11] I had teachers tell me we could never go into one and the whole path of how I got you know down this whole rabbit hole is one day this guy who looked like the singer. How many of you know him Rob Zombie. I know this hard heavy metal guy. This guy looked like Kaminey and these guys hared you know you know down really farm dreads and everything.
[00:41:30] It's all crazy and he's telling me the Fed is private and I'm like man for crap I've got to series 7 and 66 and I was on the class there and I'm you know I'm I'm on my way to being one of the youngest people ever to get a certified financial planner exam and you're trying to tell me that the Fed's private and then that led me to freedom to fascism which is a documentary which led me to my girlfriend now wife at the time she happened to go to borders and she wanted to shut me up.
[00:41:58] So she I know this book existed she bought me a creature from Jekyll Island and that was the book I started with. And so a lot of people they kind of end with that. And that led me to Ron Paul and everything that were sort of into now. And so it does sound crazy to a lot of people until they actually you know you know peel back the hood a little bit and allow one to let people know if I got into this because I was trying to prove somebody's wrong. And I found out that I was wrong and I was you know willing to admit that I was wrong and my whole thing was was I didn't know this and I had all these you know you know supposed credentials and stuff and I was in the class I won a competition against Harvard and Yale and MIT and I didn't know who the hell does know this.
[00:42:41] I feel like I spend the greatest trek that's ever been polled on the American public and unfortunately you know in that book they talked about how you know I believe this guy's name it was the guy who played Paul Warburg said We shall have one world government. It's only a matter of history consent or conquest. And unfortunately I feel like you're going to have people that are begging for this and with you know my generation and everybody wanting free stuff. At the same point that we're in this whole debt spiral it just seems like we're just in such a calamity. But who knows. I mean there there are some economists out there who thinks that the dollar could actually you know temporarily strengthen throughout all this because you know people always do the wrong thing at the wrong time. You had what was it I think was August 3rd 2011. You had the Treasury ARDE I think as you said Moody's recipe downgraded theU.S. debt and let's say you had advance knowledge of that like what would you do you'd say OK well now the government has less of a chance of paying me back and I'm going to demand a higher rate of return because there are less credit worthy borrower then the rates went down.
[00:43:45] I mean so it's the like so I'm almost saying that in the short term you're actually going to see the dollar go up because people are idiots and always do the wrong thing at the wrong time. And so unless you can have you know the you know lack of a better word balls to go into something that is then you know decreased in value quite a bit. I just see so many people are just going get shellacked you know at some point in the next you want to put a time frame mana because you know if I put a timeframe on it. Ten years ago I would be off by three or four years because it seems like a key pawn Ravitz either had. But the next time I don't know how the Fed component the rabbit other hat at this point. And now do you think they can get away with QE for QE fiber. Or how many more of these you are going to be able to pull over on us.
[00:44:33] Well it's really hard to say.
[00:44:34] But before I add onto that I just like to say I'm a believer that we'll see the dollar in gold go up same time what will happen is as things start to unravel and the markets recognize that you know money has a mind of its own it will seek safety. And the one safety feature that most believe and will continue to believe for some time will be that the best thing to do is go to cash. So look at that over leverage real estate or that bond fund or that mutual fund or whatever it is or go to cash. So there'll be a run to the dollarU.S. dollar same time there's a run to go. But what will happen is you'll see a bifurcation because there will be that aha that one hand salute. My goodness wait a minute I'm getting all these dollars they're going to be worthless are going to be close to worthless. I'd better take these dollars now that I'm liquid moved in gold. And that's where you see the gold silver markets really take off. So that's what I see ahead. Could be wrong. I'm a big believer in the extra pyramid. I was one of the first in fact take credit for. I was the first to bring the extra pyramid back to the discussion back when I started the speaking circuit. I was talking about liquidity squeeze and what would happen when the financial markets crash and was having dinner with Jay Taylor and Jay's friend of mine. And pretty smart. We have a different philosophy as far as investing goes. We saw both precious metals bugs but I still talk to them about this and he hadn't heard of it. And so I brought it to the to the discussion and I published an article like years ago and it's been brought up by many more people I'm not trying to credit that I invented everything other than studying. But no one really. It was very popular in the 1970s. In the first Wal-Mart a lot of people knew about food too but when the bull market started again in the early 2000s no one's talking about it for the best of my knowledge except me. And of course now it's open for discussion. So back to will they go to QE 4 5 6 and 7 they'll try everything and everything as I said Jim Poplarville study so they will absolutely destroy the currency. And you know just how much does the market how much can the market be abused at one point.
[00:46:49] What point do you have that I call that psychological effect for the average guy on the streets. I rather own a big jar of peanut butter from Costco than on this twenty dollar bill. And when that happens you can't turn it back. And that's a psychological once that happens as a sort freedom kick turn back. So when your neighbors you know many of them buy precious metals and not really afford it. Might know about it. All they know is that that dollar that they got that week is Polygonum purchased last month or two out. So they're going to buy something that they can use or barter. Then hold on to. Now that sounds extreme and it is because we're in extreme times and these things only take place every so often in monetary history. I mean a lot of monetary history you don't even need to buy. You don't need to hedge yourself know leaving the stuff that we've been discussing for the last half of the last 20 years because it's pointless. But in times like these if you don't understand how the system works now is rigged against you.
[00:47:52] You're probably going to pay a price.
[00:47:55] Yeah that's what I always say you know and there cause you know how the system works or how you know it how it doesn't work. I mean it's basically worked.
[00:48:01] It works to basically you know how bankrupt the average you know tax slave that's out there who doesn't know any better and keeps voting themselves you know into this same problem that basically got them there in the first place. And Lazarus speaking another thing that came across my mind is that you have you know I think you know a few weeks ago the Trump ministration mentioned that you know the Chinese are going to buy you know X amount of hundreds of billions of dollars of goods from America. And I don't even know how they came in they have forced him to do that but where are they going to get that money from. I mean are they going to sell you know they're showing our possession of bonds because that's a pretty likely place to go take some hey we get some extra money let's go buy some American crap for me and this is a joke. Trump supporters always get mad at me when I point this out which you know you know you want to talk about a term that you sort of coined. The only thing that I'm in this sounds super super super super outlandish. But I had from my Facebook page. November 16th 2016. I was I was so pissed when I read that Zero Hedge that they basically said that you know everyone we probably fall is fake news they can't get the fake news less. I instantly made a meme called fake newsless and it was you know CNN Snopes BuzzFeed all the usual suspects alienated one person by name on that list and it was Paul Krugman and then Paul Krugman then won Trump's award for being most fake news. And so I had two assistants for like a week. I did nothing but I'm like I want you to find someone that had that term go viral from Facebook or Twitter or wherever. Before me and they couldn't find it. And then no surprise that my Facebook reach went from 100 subscribers a day to zero over within the span of two days and then it's been stuck at basically now. The amount of people in this office about people that come back on you know you know pretty much like a ship that's bringing on just much water as it's taken off because they know a lot of people think oh man these guys against Hillary. No. But then they start starting off on pro freedom aspects and taking the philosophical approach and people don't like that which is why you know I commend you because it's not a very easy position to take. You know earlier touched on you know Jessica. Some people have problems with him every now and then but I would say no for anyone that's gone down the rabbit hole this deep is not a very easy thing to you know sort of deal with it especially you know if you're you know like when I found out about all the stuff I was probably 25 years old and you know it's very depressing when you realize that you know the entire life that you basically thought that you understood is all basically a lie. It's not a you know unnecessary and easy way to cope now with the Internet now with blocking technology I hope we've got a good chance of being able to you know really at a crossroads where this technology can be used to further enslave us and be the worst thing that could possibly ever happen or it could be the thing that absolutely frees humanity. And so I think that we're in this absolute vital fight I guess for humanity right now. Before we let you go I would also want to know more about the Morton Report and what people can find there. Because I'm not really familiar with it. Is this something where you do give recommendations on mining stocks or we we want this one over that Wiener's or you know hey you know just a silver in general that now is a good time to buy or sell and just talk you know to our listeners a little bit more about what they can expect if they were to become a premium subscriber at the Mordi report.
[00:51:18] I agree with that opportunity I'll be happy to answer. Before I get there. Want to just digress back in our discussion. I told you about you know Jeff in the beginning that we were at Culver's together and I lectured on freedom and this is for you know your facebook group Rabei shares the list into it. But at the end of that lecture put up a picture of a lion in the savanna and I don't know but the picture you know the old adage a picture speaks 1000 words if you can imagine align in all this majestic glory resting looking out of the Savannah clear eyes distant vision and strength and power.
[00:52:04] But it's totally a Rüstem totally at peace and that is a lie in being alive. Wow. David what a profound statement. And then the next picture I put up was a lion that had everything provided for it had its health care it had its food and even had its mate provided for it. In other words we might call it the utopian or socialistic ideology at its finest. This line didn't have to worry about anything and it was so sunken eyes. It was dirty it hadn't taken care of itself. And it basically wasn't even interested that much in its make and I knew what time he'd get fed. And that to me was a contrast that shows the difference between real freedom.
[00:53:00] Not need knowing when their next meal is coming of being able to be what you were created to be a lion versus let's call it the socially correct or the utopian ideal that just because you are alive you are gifted certain properties from somewhere and bequeath to you.
[00:53:30] And really what it does is it takes away everything that the line stands for takes away its dignity.
[00:53:36] It takes away its ability to think it takes away basically everything and gives it a soul. And that's my opinion and you could take it or leave it but I wanted to give you that metaphor as far as the premium service. More than Newport's concern basically is pretty simple. We cover all the resources except energy of a separate newsletter just started two weeks ago go that focuses on energy all aspects not only oil and gas but all the renewables like solar wind geothermaletc. That is a free web and I go to coming energy boom coming. Energy boom dot com and look the energy report. But the basic Morning Report which is basically the mining mineral sector which is no battery metals and the base metals and precious metals and rare earths and everything else that surrounds the space. It's a monthly publication and it's an electronic form where people printed out. You have a special access code that you get and greet you with your name. First thing to do is download how to use the Morgan report. So you put in right amounts of money and divide appropriately between the sectors a top tier mid-year and speculative section and then on an as required basis I come on the screen and I make a video and I'll show you what I'm doing the time the market. And it's not just precious metals. It could be the bond market the stock market theU.S. dollar. And I'll give you my opinion and I'll show you exactly what I'm doing. Long short hedge whatever when I do that Lubisi real time once I complete the video I showed it to my Web master we have a unique alert system that no one else has.
[00:55:18] Unfortunately right now it's only available on a desktop. We're going to try to get it converted over to you know the mobile devices because so many people just do everything off their phones these days. But it's something that no one else offers as far or it's just that I know most people have to rely email and we know e-mails that are.
[00:55:38] Reliable. So we started this bypass to the e-mail system a long time ago for a premium members. And last year one of the most important things I think is that you get to ask me where my staff to questions every month and you guaranteed answer. So a lot of things when I started reading you know what I felt were great thinkers in the primarily an honest money movement free market space. Always wish I could have you know picked up the phone or whatever and get right one or two questions a year answered. And I thought that would be a great adjunct to the service that people get. I'm not sure how I'm going to be able to continue that. Are paid subscriber bases down like 60 70 percent from where it was in the peak of the market. So I can offer that. I don't get overwhelmed with requests but there may be a point when the market picks back up that you know starting now just give it a date. You know I'm just making one up for now as an example. But you know December 2019 is the last time offer that feature her niece Travers because you know once we start getting overwhelmed with you know requests for questions and there's some people that never ask me a question are people that every month they get their two questions in that matter. That's fine. You know they're paying me. I'm willing to do it. I'm happy to do it. So maybe Elver spoke it but that's it. I mean first thing you know what's next is you sign out and then you get all the information. And of course there's a money back guarantee. I mean we don't want anyone on board that really doesn't belong there. It is really because in their current currency back into their mind our money back there is a caveat in there. If you do the monthly plan the first month because we've had people come in download everything off of the Web site and then we use it. So the slight protection is when you sign the terms or conditions if you do take a month and not download anything and don't like it that with that it will keep that one month that almost everybody does that these days. But no it's it's you know it is what it is I mean most people that have had another exposure to let's say the large newsletter houses you know the angoras that uses Stansberryetc. are familiar with the industry are overwhelmed with glee to see what we provide not only for the cost of comparison as far as research and type text out versus let's say some of the more robust well basically ad copywriters.
[00:58:14] Yeah and you see that out there in the space where there is you know all sorts of people that are you know basically saying we're selling fear Bartz you know hey we've got this limited time thing and the likes are certain that sales tactics I've got clients of mine who are on some of the now list that you described.
[00:58:29] They just mentioned earlier and you know oftentimes that are just nuts because you've got some video where you can skip to the end you've got to wait 50 minutes to see whatever the of the punchline is that they're trying they're trying to get say but I think the last thing I want to leave here with that because my good friendDr. Frank temporary would be upset if I didn't ask this yesterday he has had asked me a gold and silver question of my law and have I one of the biggest gurus in the world and Morris might as well save it for him. But he would point out that his I believe his father was was reading some reports. They thought that I believe was Randgold was going to Africa to rein in Berrocal of merger I forgot which one or which name they're keeping. But you know that mainstream economists are very not mainstream type guys but they just notice that even mainstream economists started our stock analysts were talking about it going from you know 15 to 70. Obviously this is not you know National Vice and Virtue complete speculation. But you know I wonder what your thoughts are seeing you know it seems like there's more and more consolidation going on in the gold space and I'm not a gold expert. It's not the main fields I'm dabbling in I know just kind of seeing all the headlines it seems like as more and more consolidation. And you know it seems like it almost is like it's almost like a leverage and if you are going into the mining space because you know the precious metals are move up you know 1 to 2 percent and probably going to see the gold stocks moving up more although that doesn't always happen and there's been a lot of weird scenarios I've seen lately where you know no one is down the other ones are for stuff that just doesn't make sense is going on and on his card. Alas it cannot be come the consolidation of the gold market. And. That's where your thoughts would be on like the burek and Rand merger that happened recently.
[01:00:11] One other favorable to it it will be a go to investment for these situations although they still use the GLT SLV primarily risk profile increases not decreases in might.
[01:00:24] That sounds counterintuitive because you know you're diversified over a larger lambasted in a different geographical area so that should decrease your risk but some of the areas that Randgold holds properties are not favorable to it. That's not just my opinion. If you look Frasier Institute they'll back me up on that. I'm a little more favorable to the gold core Newmont although I don't think that Goldcorp got probably everything that they might of but I don't like. I equate it to the banking industry and I'm not trying to equate gold banks. What I'm trying to suggest is that the bigger something gets the more consolidated something gets used more sluggish it is. And for these huge conglomerates are the Fool's Gold corporations be able to replace reserves and comes at a daunting task over time. I mean they can't look at deposits and are one or two million ounces of gold. Get a look at the five years not very many. Five million ounce deposits left. Will be some. There's a few that you know think that are there based on you know study but back on point I don't like it. I think it's I think he could get too big. You know I think you can overdo something and this is typical of the basic American philosophy you know of big is good bigger is better. You know supersized super this super that too much too much too much in touting the gold industry as far as I'm concerned. Not favorable either one of those mergers on a personal level or really out in the Destino I think you'd be better off a smaller situation. But you know I'm not running the world and no one asked me to tell you but.
[01:02:10] As far as so it's sort of like no Jovic the AOL Time Warner merger and a way back in the day it was that sort of you know ringing ringing at the top of that of the dollar there and it's also like you know are you going to be a agile a speedboat or B and you know say it's going to be the Titanic but you know you got a heavy freight you know oil tanker versus a more agile ship. But we definitely appreciate having you on today. You guys could go to the Morgan report dot com to check out everything from David depending on when this comes out. He may or may not be speaking at that PDB or already had spoken to TTV investment somewhere down there and Acapulco's. Ali also highly recommend everyone checks that out as well tons of great speakers tons of great information. And thank you for being on the show today.
[01:02:51] And I would just add one more thing on that film that you alluded to very early on discussions called Four Horsemen film dot o r g if you just type in the Four Horsemen you're going to get the old movie. But if you type in four horsemen film in a search engine or four horsemen film Rock it's free.
[01:03:09] I about an hour and a half it's good. You know we can't or after we're kind of a viewing thing and it does really blame the bankers only blame very much just a lot of people that have a lot of thoughts about the system as it is. Talks about the end of the age of empire why it's cyclical and where we are in this cycle right now and it's a really good in my opinion objective view of this cyclical monetary age of decadence. Top of the. Top of the market and what's going to happen next is a good mental exercise and it's a very well done film and it's not cause I'm in it I'm in it very briefly. But it's it's the overall documentary that's so valuable to most people especially those that are kind of like well I feel something drawn but I can't pinpoint it. This is a pretty good job of pinpointing Yeah.
[01:04:04] There's so much stuff to pinpoint and the time to check into all this stuff is when no one is looking at us right now with the price of silver today.
[01:04:11] I think it was yesterday it was close to 16 bucks like 15 99. You know better check it out today than if it's at you know hypothetically 50 bucks which is when everybody will start rushing in to check this out. Just like bitcoin you know everyone's knocking on my door wondering about bitcoin when it's out you know 10 15 20 thousand and then now that it's you know relatively speaking a much better time to get into it. No one cares. So that that's the history of life has a history of how things work. And anyways go to the Morgan report dot com. Check out all David's work there. Check out four horsemen and now we'll have some other stuff from the show notes I believe it was a coming energy boom dot com was the other one they had mentioned but thank you for having us and look forward to seeing you.
[01:04:54] I'm ready to warm up. Thank you.
[01:04:56] Thank you thanks for listening to the show one of the ways you can help support the show is by seeing if it makes sense to invest with myself. I'm a certified financial planner with innovative Advisory Group LLC innovative specialized and self directed IRAs. You can invest in virtually anything including virtual assets and crypto currencies inside your retirement accounts. And get this. You can actually hold on to the private key and that's something that nobody else is doing at least with the help of an adviser. We also run a protective growth portfolios reinvest a small amount of your portfolio into put options and while the rest that basically helps protect the rest of the portfolio not very many people are familiar with put options. But a lot of people are familiar with homeowner's insurance and works in a very similar fashion. So essentially what we're doing is using a very very small percentage of basically you know the dying the home to protect the rest of the home. And if the house doesn't burn down or there isn't a major catastrophe then you're basically out on the cost of the insurance flipside on you know your house and that burning down. Well then you build your house back. And that's really the same thing that's going on here. So if the market ends up taking and we know the most that you can possibly lose on your investment. And honestly if the market were to go down 60 70 percent and you're only down single digits potentially then that's an amazing buying opportunity. Lord Nathan Rothschild said it best that the best time to invest is when there's blood in the streets. But if your money goes down with everybody else's they're not able to take advantage of the next crisis. And also if you're just camping out in cash or in bonds making next to nothing you could be going broke safely for a very long time and then you've got to know when to time the market. And that's something that basically nobody can do. Now on the flip side if I'm wrong in all this and the market keeps going higher or the Federal Reserve comes out of the European Central Bank comes out and says hey we're going to print a whole bunch more money and the market goes to infinity. Well then you'll go up to infinity minus the cost of that put option. So I think this is a great strategy that you definitely want to learn more about. I mean just given the craziness that's going on right now I mean if you're heavy into cash right now heavy into bonds or even heavy into stocks special interest close to actually needing those funds for retirement or just needing those funds in general need for a big project or maybe work on crypto and you raised a whole bunch of money that this is something that we can help protect yourself and protect your loved ones. And there's really there's nothing you have to lose by scheduling a free consultation with us. And actually there's a chance you could lose a lot by not talking with us in general if you go and click on our Web site. Upper right hand corner is a work with Tim button up there you can see all of her plans ways to work for their clients. Pricing can all be found there. And given that I'm sort of out there on a lot of different political issues I know that I'm not going to be for everybody. You know that's sort of my way of qualifying you know to the way around but I don't find I'm not trying to have all six people six billion people out there like me and I'm here really at the end of the day to tell the truth and to make money not necessarily make friends. So head over to Liberty adviser dot com and let's see what we can do for you. Thank you.