Blood In The Streets – Bob Moriarty's Platinum, Silver, Junior Miners
Summary
Precious Metals Investment: Bob Moriarty emphasizes the value of investing in platinum and silver as contrarian plays, noting their significant price increases and potential for further appreciation.
Market Dynamics: The discussion highlights the distorted relationship between gold, silver, and platinum prices, suggesting that selling gold to buy silver and platinum could be a strategic move.
Geopolitical Impact: Moriarty discusses the implications of geopolitical tensions, particularly in Ukraine, and their potential to affect global markets and precious metal prices.
Economic Concerns: The conversation touches on the risks of global financial instability, including inflation, currency debasement, and potential market collapse, underscoring the importance of wealth preservation through precious metals.
Resource Stocks: Moriarty expresses optimism about resource stocks, particularly those undervalued by the market, and highlights the potential for significant gains in this sector.
Investment Strategy: The podcast stresses the importance of being a contrarian investor, buying undervalued assets, and the role of precious metals as insurance against financial chaos.
Company Spotlight: Apollo Silver is discussed as a promising investment, with its projects in California and Mexico offering substantial potential if local issues can be resolved.
Future Outlook: Moriarty suggests that despite current high prices, silver and platinum remain attractive buys, with platinum potentially reaching $4,000, reflecting its historical premium over gold.
Transcript
98% of the time going back to about 1720 when platinum was discovered u platinum was held a premium so you could see $4,000 platinum and frankly I wouldn't see that as being unusual. Welcome to proven and probable. I'm Maurice Jackson and I'm delighted to have you here today. Before we begin today's video, make sure you give us a thumbs up and leave a comment in the comment section below. And as always, we thank you for your continued support. And just a reminder, we sell physical precious metals through Miles Franklin Precious Metals Investments. We offer physical delivery to your home, precious metal IAS, and brings depository accounts. You can reach me at 855-505-1900. [Music] That's 855-505-1900. Or you may email maurice@mfranklin.com. That's maurice@mfranklin.com. Welcome to Proven and Probable. I'm your host Maurice Jackson. And joining us for a conversation is the legendary Bob Morardi, the founder of 321 Gold and 321 Energy.com. Mr. Morardi, welcome to the show. Well, it it's certainly good to talk to you again. There are some interesting things happening. >> Well, there certainly are, and it's an honor to have you back on the show as we look for your guidance and direction for our portfolio as precious metal prices are surging. Mr. Morardi, before we begin with the chaos, on behalf of our audience, we owe you a massive debt of gratitude. In our last interview on May 25th, you shared that platinum and silver were the perfect contrarian plays and your calls were spoton as both metals have surged over 45% since our last interview. This begs the question that everyone keeps asking me. How did Bob know? And what else does Bob know? Well, uh, you and I have talked many times about investing, and sometimes investing is as simple as buying what's cheap and selling what's dear. And and frankly, the price of gold and the price of silver and the price of platinum are shocking to me. Uh, I I'm just absolutely amazed. Certainly, it appears we are going into an entirely new world. Now, one of the things that I want to show you and and you you you play that since it's a video, correct? >> Yes, sir. >> Okay. I want to show a $20 gold piece to you. Have you ever seen one before? >> Yes, sir. Beautiful. >> Can you see the coin? >> Yes, sir. We see it. >> Okay. I was buying those in 1967 and 1968 at 36 or $37 a piece. It contains $20 worth of gold when the price of gold was $2067. So, it's about 98 uh% of an ounce of gold. Uh those coins today are over $3,900. So I paid 36 or 37 and the price has gone up $110 times. Now I I don't know anything in our society that it's gone up 110 times in real terms and real value. So, it's interesting to see where it goes from here. But for those considering investing, anytime you look at investing, you should buy what's cheap and sell what's near. And certainly when we talked back in May, silver, it's very cheap, platinum, it's very cheap. Platinum's up almost $300 in the last week. So, that that's that's certainly interesting. And one of the questions you asked and what you said to me was would it make sense to sell gold and buy silver and buy platinum today? And and my answer would be absolutely yes. There is a a relationship between the price of gold and the price of silver and the price of platinum. and it's gotten so distorted in favor of gold that buying silver, platinum, and selling gold would seem to make sense to me. You said a lot here, and I want to cover that in much greater detail, but the metal prices being at nearly well, they're all surging, the market is telling us something. What is the market telling us? >> Uh that is a absolutely brilliant question. Why didn't you talk about the price of gold? You're talking about two commodities. You're talking about gold, but you're also talking about the currency that it's quoted in. And so when we see 38 or $3,900 gold, what we're seeing is a prediction that the value of the dollar is going to plummet. Now certainly what's going on in geopolitical terms around the world in Ukraine, in Israel, in Iran, uh there's very dangerous things going on now. Do you have a physical copy of The Art of Peace? >> I have it downstairs. Yes, sir. And wonderful book, by the way. >> You should you should reread the last three pages. And I posted a piece last week. I'm going to find it. Be patient with me. And it covered the last three pages of of the book. And while you're doing that, Bob, I'm going to remind all of our audience members in the description box below this video, I'm going to insert a link where you can purchase a copy of the uh art of peace. >> Okay. If you go back to September 18th, I wrote a piece I called Thoughts on Debt and War from 9 years ago. And and I I'll be blunt. If you read that and realize it was written 9 years ago, it it's an amazing prediction of what's actually happening today. And it's some really scary things. If you followed Nepal, if you followed Indonesia, if you've seen the near riots in the UK, uh the near riots in Germany, uh the people of the world are starting to revolt against the total corruption in leadership. And some things like the assassination of Charlie Kirk may well represent the opening shot in a civil war in the United States. U it the the number of mass shootings has just skyrocketed lately and and frankly that terrifies me. I I think we're in for a civil war. Well, beyond just the United States, you've talked about world a worldwide revolution, if you will. Talk to us further about that. >> Well, uh, here's what happened. Okay. Uh, banks and the people behind banks want to constantly loan money to people because that's how they make money. And they're quite happy for the financial system to eventually collapse because the plan is they will take control of all of the assets then and we are at peak corruption in every government in the world. Uh you you probably are not familiar with the election in Malddovia literally yesterday, but the EU has come in and just totally corrupted the election. In Germany, the AFD has had uh candidates murdered. Okay. 10 candidates have somehow died in a six-w weekek period. and the EU was trying to outlaw the AFD. In Romania, they cancelled one election because they didn't like who who the winner was. And then you've got the ongoing fiasco in Ukraine where you've got the most corrupt country in Europe that has lost 1.7 million people killed or or deserted in a 3 and 1/2 year war. Let me give you an interesting statistic. I would ask the question, but everybody hates it when I ask questions. U >> No, no. Actually, everyone loves it when you ask a question cuz you put me on the spot and I stumble, rumble, and fumble. >> Oh, you're going to fumble that up. Okay, this the tough ones. U in 1914, France had a population of 40 million. uh prior to uh 2022, Ukraine had a population of 40 million. Now, an independent body has come out and literally listed the names of 1.7 million people who have either been killed in combat Ukraine or have deserted. So, we're not exactly sure how many people were killed, but the vast majority of the 1.7 million people who died in combat soldiers. How many people did France have killed in World War I? >> I'm going to assume >> how many soldiers >> is the number the same 1.7 million? Is there >> Actually, here's where it gets interesting. First of all, 16% of all the French soldiers who were killed in World War I were killed in September of 1914. It was an absolute massacre. Germany invaded France through Belgium and and it it was a massacre because Germans didn't know what they were doing and the French didn't know what they were doing, but they were doing a lot of killing. So 16% of the total died just in one month. And if you I if you extend that out, what it means is that in six or seven months, you would have the total number of people killed in the war when in fact the war went on for another uh 4 and a half years. But the total number of French soldiers killed in World War I was uh 1.35 million compared to 1.7 million killed in Ukraine. And the whole treaty of Versailles and all the reparations against Germany, which caused World War II, by the way, literally were because the French lost an entire generation of people. And my point is that the war in Ukraine that the eight states and NATO started has actually killed more people. Uh Russia is not interested in taking territory. Russia is interested in making sure the Nazis are all dead and they're just massacring the Ukrainians. for the United States and NATO and the EU to support this is absolutely criminal and insane. And the war should stop and the terms at which Russia would be will it stop the war have been known to the United States since December 20121. You know, you've said a lot here. I uh I I'd like to go back to your position on Russia and you've been in favor of Russia. Not that you're in favor of war. I want to make sure we're very clear on this, but it seems in previous uh interviews we've had, you've been in the in support of Russia in their efforts more or less versus Ukraine. Is that am I correct in that standpoint there? >> Well, uh yeah, 100%. One of the things that we've discussed in the past is the ongoing battle between the debt based system of the west and the resourcebased system of the east and and quite bloodly uh Lavoth and Putin and President Xi of China are leaders. And if you look at the EU, you've got Snow White, which is Zalinski, who's shipping $50 million a year to his personal bank accounts in the Middle East. Now, $50 million a month, I'm sorry, $600 million a year. Uh, and then you've got seven dwarfs who who are the leaders, so-called leaders of Germany, Germany, uh, France, Italy, the UK, Poland, and and quite bluntly, they are delusional. They're irrational. The idea that somehow they're going to destroy Russia is something only someone insane would come up with. Russia is not the enemy of Europe. Europe, on the other hand, is the enemy of Russia and they're run by a bunch of dwarfs. >> If you take us out a year from now, where will the relationship be between Russia and Ukraine? Will the war be over or will it still be ongoing? >> Uh, the war will be over and there's one of two possible ways. If you notice, there have been a lot of false flag operations lately with drones being carried from Ukraine into Poland. And it's so funny because you see the pictures of these drones who supposedly were fired by the Russians, but they're so deep in Poland, they couldn't possibly have been fired by the Russians. And they've got duct tape holding the nose together so the nose didn't fall off. Those are uh are drones that crashed in Ukraine and were either carried or flown into Poland. But the whole thing about um Soviet or Russian aircraft over Estonia and drones in Romania and drones in in Poland. It's all It's total fraud. Uh, it's a false flag and Europe is death sprint to get the United States involved in a war against Russia because Ukraine's getting their ass kicked and they should get their ass kicked. They started the damn war. So, uh, one of two things is going to happen. If the war continues for the next two or 3 months, it will be clear that the Russians have won and the EU, NATO, United States have lost. And the alternative is the idiots in the EU and NATO get the United States involved and it goes nuclear and it ends mankind as a whole. And if you think I am kidding, I am not kidding. I live through the Cuban missile crisis and we came very close to World War II then and we are far closer to World War II now. But there were rational players in 1962 and there are irrational players now. >> Someone listening may be completely disagreeing with your thoughts and sentiments here, but the gold price is actually in line with your thesis >> 100%. And strange enough, one of the guys I admire it predictions a lot is Armstrong. and he says his computer sensors a 100% chance of World War II going nuclear this year. And strangely enough, I wouldn't give it 100% chance of the sun rising tomorrow. >> Wow. Well, it's not a laughing matter, but uh let's hope those predictions do not come to fruition. I would like to also uh switch back to the conversation to precious metals here or preserving one's wealth right now. What is the best uh biggest concern I should say that you have right now regarding preserving wealth? Is it the effects of inflation, currency debasement, global debt, something else or all of the above? Uh actually all of the we've got so many black swans circling that it's like midnight. Uh you can go out at noon and so many black swans it's totally dark out. We are on the verge of a total absolute financial collap. All of the measures show the stock market's totally out of control. The UK bond market blew up. The Japanese bond market blew up. The US bond market is it's next. And the information that we're getting from the mainstream media is so incorrect and it's so biased and most people don't know it. But we are in a depression already and and nobody understands it except the guys who can't get a job. But if you look around, if you look price things at the food store, inflation's totally out of control. Uh large corporations are laying people off like crazy. The subprime auto loan market just blew up. And one of the biggest vendors of loans was running a Ponzi scheme. And that that's like a two or3 trillion dollar market that just blew up. So there's some really dangerous things happening underneath the surface that the mainstream media is totally ignoring. And then you've got things like the assassination Charlie Kirk and there's more questions about that than there was about the the Kennedy assassination. Given these concerns, have you ever experienced a more opportune time to be a contrarian? And what does that mean for our audience members? >> Well, strange enough, that's actually a bad question. All right. You're you're a contrarian. You're a contrarian 24/7. It doesn't make any difference what the financial markets are doing. A contrarian is a contrarian is contrarian. I was buying gold in 1967 and 1968 because I looked around when I said Vietnam and saw the cost of the war and it said, "Wait a minute, we're not paying for this war and that means the value of the dollar has to go down." So, I was a contrarian when gold was 35 bucks an ounce. I'm a contrarian now. And quite bluntly, I'll tell you a a price of 3,800 or $4,000 for gold uh scares the pants off me because it means we have financial chaos andor uh a major war right in front of us. >> Yeah. You've you've warned us before that when the gold price is surging, there's usually blood in the streets following shortly thereafter. And again, I believe you're spot on. Uh are you currently more focused on wealth preservation or wealth accumulation in these times? >> Uh actually both. Now here here's what's interesting. The gold shares and silver shares even though they are are very high in chart terms. They're not even keeping up with the increases in the price of gold and silver and platinum. So, gold shares for uh appreciation are the greatest opportunity in my lifetime. There easily could be a correction. There could be a correction in gold silver right now. There could be a correction in the gold shares right now. However, uh the the dichotomy that's split between the value of resource stocks and the value of the resources themselves is so enormous that there's going to be a lot of stocks that are up 10fold, 20fold, 50fold. If gold can go up 100fold, why can't go shares go up 100fold? And a lot of that a lot of them are going to go up a lot higher than anybody realizes. We are in the opportunity of a lifetime for price appreciation. However, you and I have talked about this for many times. The primary reason for owning physical metals is not appreciation. The primary reason to own physical metals is for price protection. you know, you uh you covered precious metals, the evocation for owning it. You've covered resource stocks, the avocation for owning it, but I've never seen you this exuberant, if you will, on the proposition of resource stocks really taking off. And I'm I'm in agreement with you. I think the opportunities are excellent right now. But you also have to be very specific on your selection. You just can't take a buckshot approach and just buy anything. So in the context of resource stocks, which metals have your attention right now, at least from that perspective, or if you want to give some specific names. >> Okay. Well, I'm I'm actually going to cheat. I want you to backtrack just a little bit and let's expand on something that you said. If you're a contrarian and you don't see the public investing in resource stocks, what does it tell you? >> They're on sale. What should you do? >> Buy selectively. Selectively. Yes, selectively. >> No, I strangely enough, I'm going to disagree with you there. You you you you could put a thousand stocks of little pieces of paper and and put them all over the walls and turn the lights off through a dart. That stock's going to go up. Some of the biggest piece of crap stocks in the world are going to go up the most because they're selling for three or 4 cents now, but literally have 50 cents, dollar, $2 potential. some of the things said and you had written a really good piece on Apollo Silver and I I found that piece and I posted that piece and you you mentioned it to me when you said a list of stuff to to talk about. Let's talk about Apollo because that's a really good example of a perfectly positioned stock led by really quality management cash up with great projects. Now they have two projects. They've got the Calico project in San Bernardino, California. And then you've got the the uh what is it? >> Yes, sir. Mayo project in in Mexico now. Uh who visited that project uh 15 years ago? >> I'm going to say Bob Morardi. >> Well, here's what's funny. I visited it with Peter McGaw. And Peter McGaw's unbeknownst to most retail investors, but he's he's a a PhD. He's a professor in Arizona. He knows more about Mexico and Mexican stocks than anybody I know. So I I was in Mexico 15 18 years ago and my wife got a call and somebody from his company uh Mag Silver wanted me to go meet him. So I did and I I'd never heard of Peter McG before and he's this very tall gentleman looking guy and we drove around northern Mexico for 3 days and if you drive in a pickup truck with Peter McGoff for three days in northern Mexico when you get out the Colorado School of Minds will give you a master's degree. I think you'd have to spend a week or two with him to actually get a PhD. But uh he he is a wealth of information. The most interesting person I ever ran into and absolutely one of the top two or three geologists in the entire world. He is that good. So we go to Cinco de Mayo. Okay. And that was the cream of the crop. That was the best property that Mag Silver had. and mag silver something ridiculous at the price. I think it I I think at the time it was 30 cents or something like that. And clearly they had some incredible projects. So we go there and he is a CRD expert. He actually is the CRD expert in the world and this was his baby. But sometimes things get crosswise with the locals and the locals stood up and said no moss which means no more. >> Mhm. >> And wouldn't let Mag Silver work on the project. So Mag Silver has kept the project since then. They just couldn't do anything and they realized that it didn't make any difference what happened on the ground. the locals were not going to forgive for God and the only chance of that project succeeding would be to turn it over to somebody else. So they they turned it over to company uh called Apollo. Okay? And it's one of those things that if, and of course it is if, not when, if Apollo can make nights with the locals and convince the locals that having some money in the bank is a lot better than not having money in the bank. With the price of silver, lead, and zinc right now, that that would be a worldclass project. It was a worldclass project 15 years ago and it's a worldclass project now if they can make nights with the locals. And Andy Bowing is the chairman of the board. I happen to know him well. I went to his wedding 15 years ago and and strange enough he gave everyone a little 1 oz bar silver and I I've still got that 1oz bar of silver and I suppose at the time silver was probably8 or $10 an ounce and I I think it's $46 an ounce now. So I hope he doesn't want a refund. you know, great background on Apollo Silver. And for clarification, the issue that the locals had with Mag Silver, it wasn't from an environmental standpoint. Is that correct? >> It it wasn't at all. It was a land usage issue, and that's something that comes up. But at the same time, we are going to see a revolution in mining because it's gone downhill for 20 or 30 years. The number of people employed in the industry has gone downhill. Yet the value is there. And given the fact that the United States wants to go to war, Canada wants to go to war with Mexico over tariffs, Mexico is a was always a very important mining jurisdiction. And I believe that we'll go back to that. And I believe the locals will realize that having well-paid mining jobs um be the alternative. >> Now, the current flagship is the Calico in California. But I'm of the opinion, and I believe you're of the opinion as well, that should the permitting be approved at the Cinco deio, this is going to be a behemoth. But I want to go back to the Calico, if we may. They have two critical minerals also released on that mineral resource estimate that they just published and that contains barite and zinc. Can you talk to us about those two metals? >> Well, the interesting thing is and you can help me out here. I read through that press release and I I know they come out with 43101, but did the 43101 talk about either the quantity or the grade of the barite? And do you understand what barite is used for? >> I believe I do. And I think the numbers came out to be 36 million metric tons of barite, 7.4% grade in the indicated category. >> So explain what barite is used for. >> It's used in uh in mining for drilling in particular. >> Nope. >> Okay. Educate us. >> What industry is it used for? >> Well, I just shared that it was used for in the mining industry and you said no for drilling. Yeah, but you got it right for drilling. But it's not drilling in the mining industry. It's drilling in the petroleum industry. >> Ah, petroleum. Well, that was close. Close. >> Okay. What is the key value? What is it that makes eye so valuable to the oil industry? >> That I don't know. >> See, I caught you. >> Yeah, you caught me. I told you I'll rumble, stumble, and fumble when you ask a question. when when you drill in uh mining, okay, uh you you literally have to put uh water down holes to force the RC chips up holes. Okay? So, you got negative pressure. You have to get the stuff at the bottom of the hole to the top of the hole. So you have to push it up, which is why you don't use barite because in the petroleum industry, you've got high pressure oil or high pressure natural gas down the hole and you don't want it blowing the pipe out. So you pack in barite, which is a very dense mineral and that that holds the pressure down. So barite is is extremely important for drilling in petroleum and would be totally useless for drilling with u regular mining. But the caliggo deposit uh has beite and it has zinc. Zinc's about$134 a pound right now which is not particularly significant. silver courses looks like it's trying to go to 50 and and beite is very valuable. Uh it's always gonna be valuable because it's so so valuable in in oil business. >> You referenced Andrew Bowin on the board of directors. They also have CEO Ross Mroy who's steering the ship who just sold fision uranium for 1.4 billion. Uh it's it's a excellent excellent team. I I don't know him, but of course I I'm actually fairly close to Andy and I've known Andic for a long time. >> Yeah, I've had a pleasure and working relationship with Mr. Maroy the last 10 years. You know, we've covered the good. How about the bad? What do you say is the biggest hurdle for Apollo Silver? >> Being in California? >> Actually, not. I'm I I'm going to say first of all if you were going to be in California, the place you would want to be would be San Bernardino, which of course is well east of LA. It's the largest county I'm pretty sure in California, but there are 80 active mines in San Bernardino. So you don't have the idiotic rules that you get in Northern and Western California. And for audience members, if you want to learn more about Apollo Silver, we just released an interview with Ross Maroy, the CEO of Apollo Silver. The interview can be found in the description box below this interview. Now, Bob, everyone wants to know what you're buying and why. But before we get there, for the person that is new to precious metals, can you share your words of wisdom on why it is so critical to own precious metals? and in particular why now >> uh owning physical precious metals is important because it's an insurance against financial chaos and anybody who doesn't see financial chaos across the landscape right now isn't paying attention. Uh, I I have owned physical precious metals. Literally, I I was buying gold and silver in the 1960s, and you could buy $20 gold pieces for $36 a piece uh well into 1971. But I owned a lot of silver that I paid a dollar and a half or or $2 for. Being a contrarian, I sold all my gold and silver in uh late 19 uh let's see late 1979 and into January of 1980. I sold several weeks too early and that I stayed totally out of precious metals from 1980 until uh 1999. And then I looked at the price of gold at 252 and the price of silver and said, you know, a as a contrarian, this has to be a buy signal. So some of the things that I've done, I I I look back at and they're so absurd. Barbara and I bought hundreds of British sovereigns when they were under 70 or $80 piece. We've got one that I think we paid $65 for. I I went out on Kitco today. A bridge sovereign is now uh $900. And the same thing with a uh US $5 gold piece. And I've got one of those. Okay. That's the size of a 5 cent coin in the United States. And in 1922 or 1923 that would buy you a nice condominium in Berlin. >> I don't know if I've uh given this to you before, but Bob, do you have my address? You're showing a lot of coins there that uh piqu my interest. >> Who who who are you? I don't remember the name. >> Uh well, let me ask you this as well. Uh how does metal diversification fit into Bob's portfolio? Well, strange enough, uh, you got an insurance on your car? >> Yes, sir. >> Do you want it to pay off? >> Do I want my insurance to pay off or my car to pay off? >> Well, do you want your insurance to pay off? >> Uh, I don't want to. No, I wouldn't want it to. >> You got insurance on your house? >> I do, sir. >> Okay. Do you want it to pay off? >> No, sir. >> Okay. The really strange thing is, and we forget this. We don't want insurance to pay off. The only time insurance pays off is when bad things happen to your car or bad things happen to your house or bad things happen to the economy. Uh to the extent that do I want to see $5,000 gold or $15,000 gold or $200 silver? Actually, I don't because it means we're going to have total absolute financial chaos, which is a bad thing. Okay. I I was quite comfortable buying gold when it was 35 bucks an ounce. I was comfortable buying silver. I bought a boatload of silver in in 2001. And I actually called the very bottom in silver to the week. Okay. I recall in in November 2001, it was like $4 and change. I was buying 100 ounce silver bars for about uh 45 bucks. Those prices you keep referencing just has me shaking my head. I know I know I'm not visible. >> When when I was a kid, I used to look at old fart and said, "I I think I now qualify as an old fart." And they were always whining about the price of everything. And and I I graduated into being an old fart now because I whine about the price of everything. But uh I I I I it scares me to see gold go up 100fold now and that gives me an opportunity. Okay, another trick question. Was the price of gold and silver uh suppressed? uh I say all markets are manipulated to some extent. So is that in answering your question is it suppressed that there's manipulation that occurs but many people in this space keep it gerine to silver and believe that there's always manipulation going on but I'm of the opinion that manipulation occurs in all markets >> you're cheating >> oh what did I how so okay you have to separate suppression from manipulation now it is true that every financial market is manipulated it was manipulated Yesterday it's manipulated today, it's going to be manipulated tomorrow. It is the nature of financial markets. So when somebody comes up to you and says gold is manipulated, that's about as educational as him saying and by the way the sun is going to rise in the east tomorrow. And while it's true, it's also utterly meaningless. But what we have heard for years literally it's silver and gold is how they're suppressed. Mhm. >> There is a website run by a guy in Australia called Gold Charts are us, and you can go to his website and he'll give you, I think, a 30-day free trial. And he has tracked the prices of nine different metals going back to 1900. And for every 10-year period, 1900, 1910, 1920, 1930, 1940, up until now, and the years for about the last 20 or 30 years, you can go in and you could chart how these nine metals change in price and guess what metal has been at the top of every single chart since 1900. >> Is it going to be silver? >> Nope. It would be gold. >> Ah, >> silver's number two. Okay. But, uh, if face it, I mean, name something that's gone up a hundfold since 1971. And gold is the only thing that I'm aware of. But, uh, here's the key. It's very popular to say that that the metals are manipulated, but it's meaningless and it's just as popular to say they're suppressed. But there is no indication that gold is suppressed if you compare it to copper or lead or zinc or iron. So saying that the metals are suppressed is absolutely meaningless. There is just as much rubbish in the financial uh predictions of of people in the resource business as there is in in the stock market. Okay? You can get any opinion that you want and the most popular way to to or the best way to be popular is to tell people what they want here. So, I'm not the most popular guy in the mining bers, but the fact is I'm correct by and large more than most people. >> And that's the most important. I love your integrity. And I love the fact that you're able to provide us with guidance and wisdom, but you don't provide a price prediction. You don't sell us on manipulation. You just sell us on the fact that there's a buying opportunity, and it's for us to make that decision. But you're spot on. I see that so or used to hear that so frequently. I don't watch my peers in the industry, but I know it's done day in day out to get views is they bring on someone to pontificate a point about manipulation and they share that gold is going to go to 10,000 which it never has. Not saying it won't, but it just hasn't. But we've been hearing that for years and silver is going to 250. Then you have the, you know, what is it? The uh silver uh the last two years they've had this three years that silver move that never occurred and you studied the course and said, "Wait a minute. Wait a minute. Pause. The weather is calmer than you think it is. But the narrative that you hear out there in the uh on on the YouTube channels, it to me is disingenuous and really is a discredit to our our space. So, with that being said, I want to find out the multi-million dollar question that is what is Bob buying right now? Is it gold, silver, platinum, or palladium? Uh, it's a gold stock. >> Huh? So, no physical precious metals have your attention then. >> Why? Why would I buy them now? >> I already own them. I'm sitting on them. >> Well, then may I ask you this for the person listening? Because you gave us your calls on silver and platinum back in May and they came to fruition. What would you be buying if you were buying precious metals right now of the four metals? >> Silver and platinum. >> Bingo. Great minds think. >> Strange enough, nothing has changed. And while they have gone up substantially since then in relative terms, gold is still a lot more expensive than silver and platinum. Now, it doesn't mean gold's not going to go up. Well, it could well go up, but silver and platinum are going to uh uh come up to where gold is. 98% of the time going back to about 1720 when platinum was discovered u platinum was held a premium. So you could see $4,000 platinum and frankly I wouldn't see that as being unusual. >> Mhm. You know what about palladium? Does that have your attention at all? >> Uh palladium has always been a stepsister. It's a very political metal. There was a lot of nonsense going around that that uh platinum was used in gasoline vehicles and platium was used in in no platinum was used in diesel vehicles but uh platium was used in gasoline vehicles for so for a long time uh palladium actually held a premium to platinum but I I've seen when platinum was $1,000 an ounce palladium was $41. $1 an ounce. So I I consider platium I I consider gold especially expensive. Platium reasonably priced. Platinum silver both cheap relative to the other metals. In closing, sir, we've covered a lot today. If an investor is nervous or hasn't bought physical precious metals or juniors yet, what is the single most vital urgent call to action they must internalize and act immediately upon? >> They should buy some Rackla shares that's weak. Rackla. All right. Do you have the uh by chance, do you have the ticker symbol on that? >> It's Romeo Alpha Kilo. It's a Canadian stock and and it's very funny because I happen to know the area and I know the guy running the company and um if you go to the Northwest Territories or if you go to the Yukon or if you go to Alaska and you talk to plaster miners, they don't look for gold. They look for bilsmouth because the gold that's associated with the billsmith. And I I'm going to do a story when they come out with their drill results. The stock has gone. I I had bought shares at 8 8.6 cents in January and the shares were a dollar uh two weeks ago. It's dropped to about 70 cents today. And they're going to have drill resorts drill results coming out shortly. And I believe it's the next Snow Line. It's the next Sitka. Uh it's the next Southern Cross. It's the next home run out of the park. >> Mr. Morardi, if someone wants to learn more about your work, please share your website address with us. >> Uh 321gold.com. and and you should uh give a push to my two finance books, Nobody Knows Anything, where I downplay the importance of gurus and uh my book on investing in gold stocks uh because those are especially timely right now. Ladies and gentlemen, if you enjoyed today's conversation, make sure you give us a thumbs up and leave a comment in the comment section below. And as a reminder, we do sell physical precious metals through Miles Franklin Precious Metals. You may reach me directly at 855501900. That's 855-5051900. Mr. Morardi, it's been a pleasure speaking with you today. Wishing you the absolute best, sir. Uh, it's always fun. Maurice, >> the information presented on proven improbable is provided for educational andformational purposes only without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The information is not intended to be and does not constitute financial, investment, or trading advice, or any other advice. You should not make any financial, investment, or trading decision based on any of the information presented without first undertaking independent due diligence and consultation with a professional broker or competent financial adviser.
Blood In The Streets – Bob Moriarty's Platinum, Silver, Junior Miners
Summary
Transcript
98% of the time going back to about 1720 when platinum was discovered u platinum was held a premium so you could see $4,000 platinum and frankly I wouldn't see that as being unusual. Welcome to proven and probable. I'm Maurice Jackson and I'm delighted to have you here today. Before we begin today's video, make sure you give us a thumbs up and leave a comment in the comment section below. And as always, we thank you for your continued support. And just a reminder, we sell physical precious metals through Miles Franklin Precious Metals Investments. We offer physical delivery to your home, precious metal IAS, and brings depository accounts. You can reach me at 855-505-1900. [Music] That's 855-505-1900. Or you may email maurice@mfranklin.com. That's maurice@mfranklin.com. Welcome to Proven and Probable. I'm your host Maurice Jackson. And joining us for a conversation is the legendary Bob Morardi, the founder of 321 Gold and 321 Energy.com. Mr. Morardi, welcome to the show. Well, it it's certainly good to talk to you again. There are some interesting things happening. >> Well, there certainly are, and it's an honor to have you back on the show as we look for your guidance and direction for our portfolio as precious metal prices are surging. Mr. Morardi, before we begin with the chaos, on behalf of our audience, we owe you a massive debt of gratitude. In our last interview on May 25th, you shared that platinum and silver were the perfect contrarian plays and your calls were spoton as both metals have surged over 45% since our last interview. This begs the question that everyone keeps asking me. How did Bob know? And what else does Bob know? Well, uh, you and I have talked many times about investing, and sometimes investing is as simple as buying what's cheap and selling what's dear. And and frankly, the price of gold and the price of silver and the price of platinum are shocking to me. Uh, I I'm just absolutely amazed. Certainly, it appears we are going into an entirely new world. Now, one of the things that I want to show you and and you you you play that since it's a video, correct? >> Yes, sir. >> Okay. I want to show a $20 gold piece to you. Have you ever seen one before? >> Yes, sir. Beautiful. >> Can you see the coin? >> Yes, sir. We see it. >> Okay. I was buying those in 1967 and 1968 at 36 or $37 a piece. It contains $20 worth of gold when the price of gold was $2067. So, it's about 98 uh% of an ounce of gold. Uh those coins today are over $3,900. So I paid 36 or 37 and the price has gone up $110 times. Now I I don't know anything in our society that it's gone up 110 times in real terms and real value. So, it's interesting to see where it goes from here. But for those considering investing, anytime you look at investing, you should buy what's cheap and sell what's near. And certainly when we talked back in May, silver, it's very cheap, platinum, it's very cheap. Platinum's up almost $300 in the last week. So, that that's that's certainly interesting. And one of the questions you asked and what you said to me was would it make sense to sell gold and buy silver and buy platinum today? And and my answer would be absolutely yes. There is a a relationship between the price of gold and the price of silver and the price of platinum. and it's gotten so distorted in favor of gold that buying silver, platinum, and selling gold would seem to make sense to me. You said a lot here, and I want to cover that in much greater detail, but the metal prices being at nearly well, they're all surging, the market is telling us something. What is the market telling us? >> Uh that is a absolutely brilliant question. Why didn't you talk about the price of gold? You're talking about two commodities. You're talking about gold, but you're also talking about the currency that it's quoted in. And so when we see 38 or $3,900 gold, what we're seeing is a prediction that the value of the dollar is going to plummet. Now certainly what's going on in geopolitical terms around the world in Ukraine, in Israel, in Iran, uh there's very dangerous things going on now. Do you have a physical copy of The Art of Peace? >> I have it downstairs. Yes, sir. And wonderful book, by the way. >> You should you should reread the last three pages. And I posted a piece last week. I'm going to find it. Be patient with me. And it covered the last three pages of of the book. And while you're doing that, Bob, I'm going to remind all of our audience members in the description box below this video, I'm going to insert a link where you can purchase a copy of the uh art of peace. >> Okay. If you go back to September 18th, I wrote a piece I called Thoughts on Debt and War from 9 years ago. And and I I'll be blunt. If you read that and realize it was written 9 years ago, it it's an amazing prediction of what's actually happening today. And it's some really scary things. If you followed Nepal, if you followed Indonesia, if you've seen the near riots in the UK, uh the near riots in Germany, uh the people of the world are starting to revolt against the total corruption in leadership. And some things like the assassination of Charlie Kirk may well represent the opening shot in a civil war in the United States. U it the the number of mass shootings has just skyrocketed lately and and frankly that terrifies me. I I think we're in for a civil war. Well, beyond just the United States, you've talked about world a worldwide revolution, if you will. Talk to us further about that. >> Well, uh, here's what happened. Okay. Uh, banks and the people behind banks want to constantly loan money to people because that's how they make money. And they're quite happy for the financial system to eventually collapse because the plan is they will take control of all of the assets then and we are at peak corruption in every government in the world. Uh you you probably are not familiar with the election in Malddovia literally yesterday, but the EU has come in and just totally corrupted the election. In Germany, the AFD has had uh candidates murdered. Okay. 10 candidates have somehow died in a six-w weekek period. and the EU was trying to outlaw the AFD. In Romania, they cancelled one election because they didn't like who who the winner was. And then you've got the ongoing fiasco in Ukraine where you've got the most corrupt country in Europe that has lost 1.7 million people killed or or deserted in a 3 and 1/2 year war. Let me give you an interesting statistic. I would ask the question, but everybody hates it when I ask questions. U >> No, no. Actually, everyone loves it when you ask a question cuz you put me on the spot and I stumble, rumble, and fumble. >> Oh, you're going to fumble that up. Okay, this the tough ones. U in 1914, France had a population of 40 million. uh prior to uh 2022, Ukraine had a population of 40 million. Now, an independent body has come out and literally listed the names of 1.7 million people who have either been killed in combat Ukraine or have deserted. So, we're not exactly sure how many people were killed, but the vast majority of the 1.7 million people who died in combat soldiers. How many people did France have killed in World War I? >> I'm going to assume >> how many soldiers >> is the number the same 1.7 million? Is there >> Actually, here's where it gets interesting. First of all, 16% of all the French soldiers who were killed in World War I were killed in September of 1914. It was an absolute massacre. Germany invaded France through Belgium and and it it was a massacre because Germans didn't know what they were doing and the French didn't know what they were doing, but they were doing a lot of killing. So 16% of the total died just in one month. And if you I if you extend that out, what it means is that in six or seven months, you would have the total number of people killed in the war when in fact the war went on for another uh 4 and a half years. But the total number of French soldiers killed in World War I was uh 1.35 million compared to 1.7 million killed in Ukraine. And the whole treaty of Versailles and all the reparations against Germany, which caused World War II, by the way, literally were because the French lost an entire generation of people. And my point is that the war in Ukraine that the eight states and NATO started has actually killed more people. Uh Russia is not interested in taking territory. Russia is interested in making sure the Nazis are all dead and they're just massacring the Ukrainians. for the United States and NATO and the EU to support this is absolutely criminal and insane. And the war should stop and the terms at which Russia would be will it stop the war have been known to the United States since December 20121. You know, you've said a lot here. I uh I I'd like to go back to your position on Russia and you've been in favor of Russia. Not that you're in favor of war. I want to make sure we're very clear on this, but it seems in previous uh interviews we've had, you've been in the in support of Russia in their efforts more or less versus Ukraine. Is that am I correct in that standpoint there? >> Well, uh yeah, 100%. One of the things that we've discussed in the past is the ongoing battle between the debt based system of the west and the resourcebased system of the east and and quite bloodly uh Lavoth and Putin and President Xi of China are leaders. And if you look at the EU, you've got Snow White, which is Zalinski, who's shipping $50 million a year to his personal bank accounts in the Middle East. Now, $50 million a month, I'm sorry, $600 million a year. Uh, and then you've got seven dwarfs who who are the leaders, so-called leaders of Germany, Germany, uh, France, Italy, the UK, Poland, and and quite bluntly, they are delusional. They're irrational. The idea that somehow they're going to destroy Russia is something only someone insane would come up with. Russia is not the enemy of Europe. Europe, on the other hand, is the enemy of Russia and they're run by a bunch of dwarfs. >> If you take us out a year from now, where will the relationship be between Russia and Ukraine? Will the war be over or will it still be ongoing? >> Uh, the war will be over and there's one of two possible ways. If you notice, there have been a lot of false flag operations lately with drones being carried from Ukraine into Poland. And it's so funny because you see the pictures of these drones who supposedly were fired by the Russians, but they're so deep in Poland, they couldn't possibly have been fired by the Russians. And they've got duct tape holding the nose together so the nose didn't fall off. Those are uh are drones that crashed in Ukraine and were either carried or flown into Poland. But the whole thing about um Soviet or Russian aircraft over Estonia and drones in Romania and drones in in Poland. It's all It's total fraud. Uh, it's a false flag and Europe is death sprint to get the United States involved in a war against Russia because Ukraine's getting their ass kicked and they should get their ass kicked. They started the damn war. So, uh, one of two things is going to happen. If the war continues for the next two or 3 months, it will be clear that the Russians have won and the EU, NATO, United States have lost. And the alternative is the idiots in the EU and NATO get the United States involved and it goes nuclear and it ends mankind as a whole. And if you think I am kidding, I am not kidding. I live through the Cuban missile crisis and we came very close to World War II then and we are far closer to World War II now. But there were rational players in 1962 and there are irrational players now. >> Someone listening may be completely disagreeing with your thoughts and sentiments here, but the gold price is actually in line with your thesis >> 100%. And strange enough, one of the guys I admire it predictions a lot is Armstrong. and he says his computer sensors a 100% chance of World War II going nuclear this year. And strangely enough, I wouldn't give it 100% chance of the sun rising tomorrow. >> Wow. Well, it's not a laughing matter, but uh let's hope those predictions do not come to fruition. I would like to also uh switch back to the conversation to precious metals here or preserving one's wealth right now. What is the best uh biggest concern I should say that you have right now regarding preserving wealth? Is it the effects of inflation, currency debasement, global debt, something else or all of the above? Uh actually all of the we've got so many black swans circling that it's like midnight. Uh you can go out at noon and so many black swans it's totally dark out. We are on the verge of a total absolute financial collap. All of the measures show the stock market's totally out of control. The UK bond market blew up. The Japanese bond market blew up. The US bond market is it's next. And the information that we're getting from the mainstream media is so incorrect and it's so biased and most people don't know it. But we are in a depression already and and nobody understands it except the guys who can't get a job. But if you look around, if you look price things at the food store, inflation's totally out of control. Uh large corporations are laying people off like crazy. The subprime auto loan market just blew up. And one of the biggest vendors of loans was running a Ponzi scheme. And that that's like a two or3 trillion dollar market that just blew up. So there's some really dangerous things happening underneath the surface that the mainstream media is totally ignoring. And then you've got things like the assassination Charlie Kirk and there's more questions about that than there was about the the Kennedy assassination. Given these concerns, have you ever experienced a more opportune time to be a contrarian? And what does that mean for our audience members? >> Well, strange enough, that's actually a bad question. All right. You're you're a contrarian. You're a contrarian 24/7. It doesn't make any difference what the financial markets are doing. A contrarian is a contrarian is contrarian. I was buying gold in 1967 and 1968 because I looked around when I said Vietnam and saw the cost of the war and it said, "Wait a minute, we're not paying for this war and that means the value of the dollar has to go down." So, I was a contrarian when gold was 35 bucks an ounce. I'm a contrarian now. And quite bluntly, I'll tell you a a price of 3,800 or $4,000 for gold uh scares the pants off me because it means we have financial chaos andor uh a major war right in front of us. >> Yeah. You've you've warned us before that when the gold price is surging, there's usually blood in the streets following shortly thereafter. And again, I believe you're spot on. Uh are you currently more focused on wealth preservation or wealth accumulation in these times? >> Uh actually both. Now here here's what's interesting. The gold shares and silver shares even though they are are very high in chart terms. They're not even keeping up with the increases in the price of gold and silver and platinum. So, gold shares for uh appreciation are the greatest opportunity in my lifetime. There easily could be a correction. There could be a correction in gold silver right now. There could be a correction in the gold shares right now. However, uh the the dichotomy that's split between the value of resource stocks and the value of the resources themselves is so enormous that there's going to be a lot of stocks that are up 10fold, 20fold, 50fold. If gold can go up 100fold, why can't go shares go up 100fold? And a lot of that a lot of them are going to go up a lot higher than anybody realizes. We are in the opportunity of a lifetime for price appreciation. However, you and I have talked about this for many times. The primary reason for owning physical metals is not appreciation. The primary reason to own physical metals is for price protection. you know, you uh you covered precious metals, the evocation for owning it. You've covered resource stocks, the avocation for owning it, but I've never seen you this exuberant, if you will, on the proposition of resource stocks really taking off. And I'm I'm in agreement with you. I think the opportunities are excellent right now. But you also have to be very specific on your selection. You just can't take a buckshot approach and just buy anything. So in the context of resource stocks, which metals have your attention right now, at least from that perspective, or if you want to give some specific names. >> Okay. Well, I'm I'm actually going to cheat. I want you to backtrack just a little bit and let's expand on something that you said. If you're a contrarian and you don't see the public investing in resource stocks, what does it tell you? >> They're on sale. What should you do? >> Buy selectively. Selectively. Yes, selectively. >> No, I strangely enough, I'm going to disagree with you there. You you you you could put a thousand stocks of little pieces of paper and and put them all over the walls and turn the lights off through a dart. That stock's going to go up. Some of the biggest piece of crap stocks in the world are going to go up the most because they're selling for three or 4 cents now, but literally have 50 cents, dollar, $2 potential. some of the things said and you had written a really good piece on Apollo Silver and I I found that piece and I posted that piece and you you mentioned it to me when you said a list of stuff to to talk about. Let's talk about Apollo because that's a really good example of a perfectly positioned stock led by really quality management cash up with great projects. Now they have two projects. They've got the Calico project in San Bernardino, California. And then you've got the the uh what is it? >> Yes, sir. Mayo project in in Mexico now. Uh who visited that project uh 15 years ago? >> I'm going to say Bob Morardi. >> Well, here's what's funny. I visited it with Peter McGaw. And Peter McGaw's unbeknownst to most retail investors, but he's he's a a PhD. He's a professor in Arizona. He knows more about Mexico and Mexican stocks than anybody I know. So I I was in Mexico 15 18 years ago and my wife got a call and somebody from his company uh Mag Silver wanted me to go meet him. So I did and I I'd never heard of Peter McG before and he's this very tall gentleman looking guy and we drove around northern Mexico for 3 days and if you drive in a pickup truck with Peter McGoff for three days in northern Mexico when you get out the Colorado School of Minds will give you a master's degree. I think you'd have to spend a week or two with him to actually get a PhD. But uh he he is a wealth of information. The most interesting person I ever ran into and absolutely one of the top two or three geologists in the entire world. He is that good. So we go to Cinco de Mayo. Okay. And that was the cream of the crop. That was the best property that Mag Silver had. and mag silver something ridiculous at the price. I think it I I think at the time it was 30 cents or something like that. And clearly they had some incredible projects. So we go there and he is a CRD expert. He actually is the CRD expert in the world and this was his baby. But sometimes things get crosswise with the locals and the locals stood up and said no moss which means no more. >> Mhm. >> And wouldn't let Mag Silver work on the project. So Mag Silver has kept the project since then. They just couldn't do anything and they realized that it didn't make any difference what happened on the ground. the locals were not going to forgive for God and the only chance of that project succeeding would be to turn it over to somebody else. So they they turned it over to company uh called Apollo. Okay? And it's one of those things that if, and of course it is if, not when, if Apollo can make nights with the locals and convince the locals that having some money in the bank is a lot better than not having money in the bank. With the price of silver, lead, and zinc right now, that that would be a worldclass project. It was a worldclass project 15 years ago and it's a worldclass project now if they can make nights with the locals. And Andy Bowing is the chairman of the board. I happen to know him well. I went to his wedding 15 years ago and and strange enough he gave everyone a little 1 oz bar silver and I I've still got that 1oz bar of silver and I suppose at the time silver was probably8 or $10 an ounce and I I think it's $46 an ounce now. So I hope he doesn't want a refund. you know, great background on Apollo Silver. And for clarification, the issue that the locals had with Mag Silver, it wasn't from an environmental standpoint. Is that correct? >> It it wasn't at all. It was a land usage issue, and that's something that comes up. But at the same time, we are going to see a revolution in mining because it's gone downhill for 20 or 30 years. The number of people employed in the industry has gone downhill. Yet the value is there. And given the fact that the United States wants to go to war, Canada wants to go to war with Mexico over tariffs, Mexico is a was always a very important mining jurisdiction. And I believe that we'll go back to that. And I believe the locals will realize that having well-paid mining jobs um be the alternative. >> Now, the current flagship is the Calico in California. But I'm of the opinion, and I believe you're of the opinion as well, that should the permitting be approved at the Cinco deio, this is going to be a behemoth. But I want to go back to the Calico, if we may. They have two critical minerals also released on that mineral resource estimate that they just published and that contains barite and zinc. Can you talk to us about those two metals? >> Well, the interesting thing is and you can help me out here. I read through that press release and I I know they come out with 43101, but did the 43101 talk about either the quantity or the grade of the barite? And do you understand what barite is used for? >> I believe I do. And I think the numbers came out to be 36 million metric tons of barite, 7.4% grade in the indicated category. >> So explain what barite is used for. >> It's used in uh in mining for drilling in particular. >> Nope. >> Okay. Educate us. >> What industry is it used for? >> Well, I just shared that it was used for in the mining industry and you said no for drilling. Yeah, but you got it right for drilling. But it's not drilling in the mining industry. It's drilling in the petroleum industry. >> Ah, petroleum. Well, that was close. Close. >> Okay. What is the key value? What is it that makes eye so valuable to the oil industry? >> That I don't know. >> See, I caught you. >> Yeah, you caught me. I told you I'll rumble, stumble, and fumble when you ask a question. when when you drill in uh mining, okay, uh you you literally have to put uh water down holes to force the RC chips up holes. Okay? So, you got negative pressure. You have to get the stuff at the bottom of the hole to the top of the hole. So you have to push it up, which is why you don't use barite because in the petroleum industry, you've got high pressure oil or high pressure natural gas down the hole and you don't want it blowing the pipe out. So you pack in barite, which is a very dense mineral and that that holds the pressure down. So barite is is extremely important for drilling in petroleum and would be totally useless for drilling with u regular mining. But the caliggo deposit uh has beite and it has zinc. Zinc's about$134 a pound right now which is not particularly significant. silver courses looks like it's trying to go to 50 and and beite is very valuable. Uh it's always gonna be valuable because it's so so valuable in in oil business. >> You referenced Andrew Bowin on the board of directors. They also have CEO Ross Mroy who's steering the ship who just sold fision uranium for 1.4 billion. Uh it's it's a excellent excellent team. I I don't know him, but of course I I'm actually fairly close to Andy and I've known Andic for a long time. >> Yeah, I've had a pleasure and working relationship with Mr. Maroy the last 10 years. You know, we've covered the good. How about the bad? What do you say is the biggest hurdle for Apollo Silver? >> Being in California? >> Actually, not. I'm I I'm going to say first of all if you were going to be in California, the place you would want to be would be San Bernardino, which of course is well east of LA. It's the largest county I'm pretty sure in California, but there are 80 active mines in San Bernardino. So you don't have the idiotic rules that you get in Northern and Western California. And for audience members, if you want to learn more about Apollo Silver, we just released an interview with Ross Maroy, the CEO of Apollo Silver. The interview can be found in the description box below this interview. Now, Bob, everyone wants to know what you're buying and why. But before we get there, for the person that is new to precious metals, can you share your words of wisdom on why it is so critical to own precious metals? and in particular why now >> uh owning physical precious metals is important because it's an insurance against financial chaos and anybody who doesn't see financial chaos across the landscape right now isn't paying attention. Uh, I I have owned physical precious metals. Literally, I I was buying gold and silver in the 1960s, and you could buy $20 gold pieces for $36 a piece uh well into 1971. But I owned a lot of silver that I paid a dollar and a half or or $2 for. Being a contrarian, I sold all my gold and silver in uh late 19 uh let's see late 1979 and into January of 1980. I sold several weeks too early and that I stayed totally out of precious metals from 1980 until uh 1999. And then I looked at the price of gold at 252 and the price of silver and said, you know, a as a contrarian, this has to be a buy signal. So some of the things that I've done, I I I look back at and they're so absurd. Barbara and I bought hundreds of British sovereigns when they were under 70 or $80 piece. We've got one that I think we paid $65 for. I I went out on Kitco today. A bridge sovereign is now uh $900. And the same thing with a uh US $5 gold piece. And I've got one of those. Okay. That's the size of a 5 cent coin in the United States. And in 1922 or 1923 that would buy you a nice condominium in Berlin. >> I don't know if I've uh given this to you before, but Bob, do you have my address? You're showing a lot of coins there that uh piqu my interest. >> Who who who are you? I don't remember the name. >> Uh well, let me ask you this as well. Uh how does metal diversification fit into Bob's portfolio? Well, strange enough, uh, you got an insurance on your car? >> Yes, sir. >> Do you want it to pay off? >> Do I want my insurance to pay off or my car to pay off? >> Well, do you want your insurance to pay off? >> Uh, I don't want to. No, I wouldn't want it to. >> You got insurance on your house? >> I do, sir. >> Okay. Do you want it to pay off? >> No, sir. >> Okay. The really strange thing is, and we forget this. We don't want insurance to pay off. The only time insurance pays off is when bad things happen to your car or bad things happen to your house or bad things happen to the economy. Uh to the extent that do I want to see $5,000 gold or $15,000 gold or $200 silver? Actually, I don't because it means we're going to have total absolute financial chaos, which is a bad thing. Okay. I I was quite comfortable buying gold when it was 35 bucks an ounce. I was comfortable buying silver. I bought a boatload of silver in in 2001. And I actually called the very bottom in silver to the week. Okay. I recall in in November 2001, it was like $4 and change. I was buying 100 ounce silver bars for about uh 45 bucks. Those prices you keep referencing just has me shaking my head. I know I know I'm not visible. >> When when I was a kid, I used to look at old fart and said, "I I think I now qualify as an old fart." And they were always whining about the price of everything. And and I I graduated into being an old fart now because I whine about the price of everything. But uh I I I I it scares me to see gold go up 100fold now and that gives me an opportunity. Okay, another trick question. Was the price of gold and silver uh suppressed? uh I say all markets are manipulated to some extent. So is that in answering your question is it suppressed that there's manipulation that occurs but many people in this space keep it gerine to silver and believe that there's always manipulation going on but I'm of the opinion that manipulation occurs in all markets >> you're cheating >> oh what did I how so okay you have to separate suppression from manipulation now it is true that every financial market is manipulated it was manipulated Yesterday it's manipulated today, it's going to be manipulated tomorrow. It is the nature of financial markets. So when somebody comes up to you and says gold is manipulated, that's about as educational as him saying and by the way the sun is going to rise in the east tomorrow. And while it's true, it's also utterly meaningless. But what we have heard for years literally it's silver and gold is how they're suppressed. Mhm. >> There is a website run by a guy in Australia called Gold Charts are us, and you can go to his website and he'll give you, I think, a 30-day free trial. And he has tracked the prices of nine different metals going back to 1900. And for every 10-year period, 1900, 1910, 1920, 1930, 1940, up until now, and the years for about the last 20 or 30 years, you can go in and you could chart how these nine metals change in price and guess what metal has been at the top of every single chart since 1900. >> Is it going to be silver? >> Nope. It would be gold. >> Ah, >> silver's number two. Okay. But, uh, if face it, I mean, name something that's gone up a hundfold since 1971. And gold is the only thing that I'm aware of. But, uh, here's the key. It's very popular to say that that the metals are manipulated, but it's meaningless and it's just as popular to say they're suppressed. But there is no indication that gold is suppressed if you compare it to copper or lead or zinc or iron. So saying that the metals are suppressed is absolutely meaningless. There is just as much rubbish in the financial uh predictions of of people in the resource business as there is in in the stock market. Okay? You can get any opinion that you want and the most popular way to to or the best way to be popular is to tell people what they want here. So, I'm not the most popular guy in the mining bers, but the fact is I'm correct by and large more than most people. >> And that's the most important. I love your integrity. And I love the fact that you're able to provide us with guidance and wisdom, but you don't provide a price prediction. You don't sell us on manipulation. You just sell us on the fact that there's a buying opportunity, and it's for us to make that decision. But you're spot on. I see that so or used to hear that so frequently. I don't watch my peers in the industry, but I know it's done day in day out to get views is they bring on someone to pontificate a point about manipulation and they share that gold is going to go to 10,000 which it never has. Not saying it won't, but it just hasn't. But we've been hearing that for years and silver is going to 250. Then you have the, you know, what is it? The uh silver uh the last two years they've had this three years that silver move that never occurred and you studied the course and said, "Wait a minute. Wait a minute. Pause. The weather is calmer than you think it is. But the narrative that you hear out there in the uh on on the YouTube channels, it to me is disingenuous and really is a discredit to our our space. So, with that being said, I want to find out the multi-million dollar question that is what is Bob buying right now? Is it gold, silver, platinum, or palladium? Uh, it's a gold stock. >> Huh? So, no physical precious metals have your attention then. >> Why? Why would I buy them now? >> I already own them. I'm sitting on them. >> Well, then may I ask you this for the person listening? Because you gave us your calls on silver and platinum back in May and they came to fruition. What would you be buying if you were buying precious metals right now of the four metals? >> Silver and platinum. >> Bingo. Great minds think. >> Strange enough, nothing has changed. And while they have gone up substantially since then in relative terms, gold is still a lot more expensive than silver and platinum. Now, it doesn't mean gold's not going to go up. Well, it could well go up, but silver and platinum are going to uh uh come up to where gold is. 98% of the time going back to about 1720 when platinum was discovered u platinum was held a premium. So you could see $4,000 platinum and frankly I wouldn't see that as being unusual. >> Mhm. You know what about palladium? Does that have your attention at all? >> Uh palladium has always been a stepsister. It's a very political metal. There was a lot of nonsense going around that that uh platinum was used in gasoline vehicles and platium was used in in no platinum was used in diesel vehicles but uh platium was used in gasoline vehicles for so for a long time uh palladium actually held a premium to platinum but I I've seen when platinum was $1,000 an ounce palladium was $41. $1 an ounce. So I I consider platium I I consider gold especially expensive. Platium reasonably priced. Platinum silver both cheap relative to the other metals. In closing, sir, we've covered a lot today. If an investor is nervous or hasn't bought physical precious metals or juniors yet, what is the single most vital urgent call to action they must internalize and act immediately upon? >> They should buy some Rackla shares that's weak. Rackla. All right. Do you have the uh by chance, do you have the ticker symbol on that? >> It's Romeo Alpha Kilo. It's a Canadian stock and and it's very funny because I happen to know the area and I know the guy running the company and um if you go to the Northwest Territories or if you go to the Yukon or if you go to Alaska and you talk to plaster miners, they don't look for gold. They look for bilsmouth because the gold that's associated with the billsmith. And I I'm going to do a story when they come out with their drill results. The stock has gone. I I had bought shares at 8 8.6 cents in January and the shares were a dollar uh two weeks ago. It's dropped to about 70 cents today. And they're going to have drill resorts drill results coming out shortly. And I believe it's the next Snow Line. It's the next Sitka. Uh it's the next Southern Cross. It's the next home run out of the park. >> Mr. Morardi, if someone wants to learn more about your work, please share your website address with us. >> Uh 321gold.com. and and you should uh give a push to my two finance books, Nobody Knows Anything, where I downplay the importance of gurus and uh my book on investing in gold stocks uh because those are especially timely right now. Ladies and gentlemen, if you enjoyed today's conversation, make sure you give us a thumbs up and leave a comment in the comment section below. And as a reminder, we do sell physical precious metals through Miles Franklin Precious Metals. You may reach me directly at 855501900. That's 855-5051900. Mr. Morardi, it's been a pleasure speaking with you today. Wishing you the absolute best, sir. Uh, it's always fun. Maurice, >> the information presented on proven improbable is provided for educational andformational purposes only without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The information is not intended to be and does not constitute financial, investment, or trading advice, or any other advice. You should not make any financial, investment, or trading decision based on any of the information presented without first undertaking independent due diligence and consultation with a professional broker or competent financial adviser.