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You can reread as much of the story as you want. We have always had financial crises. Not every week, not every month, but financial crises have always occurred in the world . They are repeated. They were repeated everywhere. And so, in Washington they say: “Don't worry. We know what we are doing now.
We solved this problem." I hope that when this problem comes, you won't realize it's too late. Before we get too deep, please like and share this video. Subscribe to the channel and turn on notifications for instant updates. We appreciate your support and hope you enjoy the video. forecast in a pinned comment.
Stay one step ahead. Don't miss it. For hundreds of years, silver and gold have been considered a store of value in most parts of the world. Most of the world used silver as coins. The United States was also based on the silver standard at the time of its founding. The first currency was backed by silver for 100 years.
Well, after all, Jesus Christ was sold for 30 pieces of silver, not for gold, because silver was the main currency in that part of the world at that time. So, silver and gold, whether we like it or not, have always been considered valuable in the world, and probably always will be. So that's one of the reasons I own silver and gold, and why I hope I'll be smart enough to buy more.
There are people in the world right now who say we should go back to a gold or silver standard. But no matter what happens, silver and gold will be useful. When things are going badly, it's good to have a little gold under the bed. It's worth having some silver in your closet, because it will help save you.
I have lived a long time and I can't even count how many ideas I have heard, how many theories, how many paths to " salvation" that will save us all. Who knows? But I know for sure: over the past few hundred years, if you have silver, you're probably better off. If you have some gold, you're probably better off whether we like it or not.
Today you can't go to the grocery store and buy a loaf of bread for silver. But if you have silver, it will be useful. If you need bread, I assure you, you will need it. I mean, I hate to say it over and over again, but I've been buying silver for over 50 years and gold for over 50 years. And I never plan to sell my gold.
My wife asked me the other day when we can sell the gold? I answered: never. We own silver and gold forever. And when a crisis happens, my understanding of history is very clear: if a crisis occurs, you need some silver. You need some gold. You want to go to the cupboard and get the silverware . You want to crawl under the bed and find gold.
I mean, it's always happened. Of course, there are very long periods when nothing happens. But that's okay, because when something happens, you want to have your silver, and I want to have my silver and my gold. Of course. Well, yes. If you are a very good trader and speculator, you can make a fortune buying silver and gold at the right price.
You buy here, sell here and become very rich. This is not my approach to silver and gold. Yes, I want to become rich. We all want to be rich, but my silver and gold are lying around just in case. You know, when the time comes, it will be too late to buy silver . If there is a crisis on the streets , it is too late to buy gold .
It's too late to buy silver. You should already have it . Yes, this means you have an asset that may be doing nothing but sitting in a closet for a while. Do n't worry, it's a nice problem. At least I think it's a nice problem. What do you think pushes the price of gold up when central banks buy it?
What drives the price of gold? Look out the window. Chaos is looming there. There are huge debt problems in many parts of the world that are only getting worse everywhere, and money is being printed everywhere or almost everywhere in the world, and it is becoming easier and easier to print money. Politicians love to print money.
It's very simple. They like simple answers. Yes. So they print money. No matter what question arises, the answer is always the same: print money . Print more money. And it will always be like that. Not necessarily in every country, but when they print money there, it affects everyone because there is a lot more money circulating in the world.
So, I mean, listen, I own gold. I own silver. I have always owned it. I told my wife, “I won’t sell it. " I'll just buy more." She She wants to sell it. She is a good trader. She wants to sell it. She sees that the price has increased. "What will happen is you turn on the TV one night and they ring the bell.
And they will say, "That's it. Get ready. Go buy your silver ." They never ring the bell. They never inform us in advance. And when that happens, it's already too late. I will say that everything is very simple. It's simple because it's happened many, many times, right? Throughout history, all over the world, not just in Singapore, not just in America and Germany, Japan, everywhere.
When it's too late, the price also goes up, if you can buy it at all. Oh yes, if you can buy it, the price is very, very high. So you better buy your silver now. At least I'm buying my silver now. I own silver and gold. I've owned them for decades. I've never sold anything. Yes. I sometimes give them to friends or family, but I don't buy silver to speculate.
I am buying it as my property because I know it will save me. I mean , silver has been going up since I first started buying it many years ago. Silver has risen significantly. When I first bought silver, it cost $1.29. You ca n't even imagine such a low price. No. This is very, very little. Now, of course, it costs over $30.
And if you ask me, it will get more expensive. But I don't give investment advice. Of course , I give life advice. You should own silver and you should own gold. If you remember, what exactly prompted you to take the plunge and buy your first ounce of silver? This was in 1971. Uh, and up until that time in America, where I was, in America where I lived, the price of gold and silver was set by the government.
Buying gold was illegal. At one time, Americans were indeed forbidden from buying gold. It's legal now, and so is silver. Silver, everything was controlled and recorded by the US government, since I am American. And no one cared. And for some reason, well, I know the reason, the government fixed the price of gold and silver in the 30s for many reasons.
And so, when the price of silver is fixed, there is almost no incentive to mine silver, because it is impossible to make money from it. Mhm. Let's say you have a silver mine, you mine silver and go sell it. Yes. But the price is fixed, set by the government at an insane level. I still remember the day the US government started loosening or removing the silver price fixing.
They stated, "We will let the market determine the price of silver." I remember how it happened. Nobody had any business with this. But an old man told me that the price of silver should go up because he calculated it. No one mined silver if it was impossible to make a profit from it. Why extract it then ?
And for some reason, probably because he told me, I started keeping an eye on the price of silver—one dollar, 129 cents an ounce at the time. As you know, it's currently $34. 34, not one, 34, because the price of silver has increased . And this happened because no one mined silver when it was so cheap because of the set price.
And then there was demand as people were worried about currency and money, and the price went up. The same thing happened with gold. But this is basic economics that people have been using for hundreds of years. The price of silver and gold will go much higher because they are still artificially undervalued.
And for most, gold and silver mining is not super profitable. It's better now. Being a silver tycoon is better now than being a banana farmer. But the United States—again, I'll use the example of the United States. This is a huge debtor. Fifty years ago, the United States was a creditor country. Still a creditor country.
It is now the largest debtor in the history of the world. And the debts are growing every day. And no one does anything about it. I'm sitting here talking about it. Who is interested in this? In 1925, Britain was the number one country in the world, a huge creditor. After 50 years, this is the country that was the first to change.
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