I was talking to my friend Andy Schectman a few days ago and he told me that in the last 2 weeks his company sold $100 MILLION worth of gold and silver. This is ONE company! When confidence in the system collapses people that are paying attention start to look for ways to conserve what they have worked so hard for. Add to this the fact that central banks, major banks and countries are all buying at record amounts and it is quite shocking that gold and silver have not shot to the moon- YET.

In looking at the charts on Kitco.com I am seeing EXTREMELY choppy action day after day as the price of gold spikes up and then by some miracle (paper shorts most likely) the price is spiked back down. This has happened for over a decade but mainly at certain times of the day. What I have been seeing is that these takedowns have been happening NUMEROUS times during the day. As I am writing this on March 30th I see that the usual 4AM and 8:30 takedowns took place and another at 9 AM and the gold price is UP $10.00 at 11:30. There may be more action later in the day. Keep in mind these are games played by people who have little to no gold- just paper contracts that moves the price but does NOT affect the VALUE- which, in my opinion, goes up with each dollar, euro, yen, etc. conjured up out of nowhere.

It appears that there is a massive effort taking place to keep the gold price under $2000.00 because that headline would likely lead to even more buying and more competition for those who want to own it all.

In a bit of news that doesn’t seem to be getting much coverage the FEDNOW system is taking applications from banks starting next week and is scheduled to roll out in mid-July. Many are saying that this is the precursor to the CBDC system that central banks have been planning for years. As I wrote recently- it appears to me very convenient that banks are experiencing liquidity (no money) problems at just the same time that a CBDC could provide instant liquidity wherever and whenever it is needed.

As I have said before MANY people will resist the CBDC because all financial privacy would be lost, it can be programmed to work only in certain places and can be programmed to EXPIRE if not used in a certain period of time.

In looking at this it appears to be MASSIVELY inflationary because there could be UNLIMITED “money” chasing goods that aren’t being produced in anywhere near enough quantity. In addition, people would likely buy things just so their “money” doesn’t expire worthless.

On the other hand, those “assets” being artificially propped up with money from nowhere are seeing a rally that is likely not going to last too long. The banks are getting “unlimited” support from central banks. Stocks and bonds are being bought in the trillions by central banks to keep prices artificially inflated. Keep in mind that this action- the same as keeping the price of gold and silver down- does NOT affect the VALUE of these assets- it just moves the price. If support was to EVER be abandoned or even reduced and the actual VALUE exposed, many people would likely be stunned. Because of this it is likely that the “printing and buying” will continue until the value of the currency is so low that will become irrelevant. Plan accordingly.

Finally, we are seeing some attention (not much) being paid in the mainstream media about the discussions about the Petro Yuan replacing the Petrodollar and the rise of the BRICS nations which was originally Brazil, Russia, India, China and South Africa. Others now looking to join include Saudi Arabia, Iran, Argentina, Mexico, most of Africa, Turkey, Pakistan and others. All of these countries are looking to settle trades without using US dollars. In a video I saw yesterday former Assistant Treasury Secretary Monica Crowley was asked about the significance of the Petro Yuan and the replacement of the Petrodollar system and she said it would be the END of the US dollar.

I believe the reason she said this was that the use of dollars in international trade is what has allowed us to consume FAR more than we produce for decades. This has given us the unenviable record as the most indebted country that has ever existed. All of us have gorged on cheap goods as we have traded our paper promises for real goods and the rest of the world is waking up to it. As I have asked many times before- what IS the VALUE of a promise that cannot or will not be kept?

I believe that even those paying little attention to what is happening around them are seeing things change in ways that just a few years ago would have been unimaginable. Our infrastructure is crumbling. Our moral standards are crumbling. Our standard of living is crumbling. And the answer to it all- Conjure up “money” and send it all over the world. Manipulate prices for the benefit of the few who produce Little to Nothing but yet profit because they are big enough to move prices to their short-term advantage and let’s not forget to have “regulators” in place that will protect only the rich. If we needed any more proof of that then the cancelling of trades where billionaires could have been made paupers and paupers into at least multi millionaires in the nickel “market” gives us all the proof we need.

Keep in mind that every fraud has its own demise built in and the clock is ticking!

Be Prepared!

Any opinions are those of Mike Savage and not necessarily of those of RJFS or Raymond James. Expressions of opinion are as of this date and are subject to change without notice. The information in this report does not purport to be a complete description of securities, markets or developments referred to in this material. The information has been obtained from sources deemed to be reliable but we do not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct.

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