BREAKING: Gold Price Is Crashing (What You Need To Know)
Summary
Gold Market Volatility: The podcast discusses a significant crash in gold prices, highlighting a 5.44% drop and a 10.6% decline in gold miners, suggesting increased market volatility.
Speculative Mania: The host draws parallels between current market conditions and past speculative bubbles, using Beyond Meat's recent 80% stock surge due to its inclusion in a meme ETF as an example of market hysteria.
Tesla's Market Position: The discussion critiques Tesla's fluctuating market narrative and questions the sustainability of its valuation, especially in light of Elon Musk's proposed $1 trillion compensation package.
Investment Strategy: The speaker shares personal portfolio adjustments, reducing gold holdings to maintain a balanced portfolio amidst current market volatility and speculative buying trends.
Market Sentiment: The podcast highlights a sense of unease in the market, with unusual movements in assets like gold and treasuries, indicating potential underlying instability.
Webinar Announcement: An upcoming webinar is promoted, focusing on contrarian investment strategies during financial bubbles, offering insights from professional investors.
Transcript
Hello fellow Rebel Capitalists. Hope you are well. So, we've got the gold price completely crashing today. And holy cow, did you see what happened to the gold miners themselves? We're going to go over the details, everything you need to know right now. And I'm also going to share with you what I'm doing with my own portfolio. Most of you know that I own a lot of gold. That is for sure. and I've made some big big changes. We'll discuss that at the end of this video. Okay, let's go ahead and do the screen share. Josh is completely MIA swiping on something. I'll let you guys decide what app he's using to swipe on, but here we go. Screen share. Okay, let's go over Well, boy, I don't know how to put this to you guys. It is ugly. Let's just go straight to a chart. And oh boy, daily chart down and it's trading at the lows of the day too. I didn't even realize that. So 4,122 that' be a decline of $237 just changed dollars down 5.44%. But this is nothing compared to the gold miners. So, just using the GDXJ, the juniors as a proxy for that. Look at that. Whoa. Look at the last month. Kaboom. K. And look at today. Geez. Talk about some volatility. So, we started the day at 106 roughly and we're trading at 94.88. That is a 1-day decline of, wait for it, 10.6%. 10.6% down in one day. Now, I know a lot of you might be saying, "Oh, well, George, this is a fantastic buying opportunity." Maybe, maybe. But look at the year-to- date chart. And that is what you call a falling knife, my friends. That that that is a falling knife. Now, we very well could rebound. We are obviously way overbought. So, maybe we just go back down to the whatever the 50-day moving average, 20-day moving average, whatever technical you want to throw in there, and maybe you rebound, go to all-time highs. I would not be surprised at all. But the bottom line is the volatility has increased. And usually usually you start to see the volatility really increase when you get towards the latter phases of the parabolic price move, the blowoff top, whatever you want to call it. And you see something similar in gold. Let's go back to that. Boy, that's tough to look at. We'll go to year-to- date chart. Yeah, something very similar uh with gold. So, now let's go over some other topics of the day and put the pieces of the puzzle together because at surface level, you may not think that ah this really doesn't pertain to gold. But in my view, it does. It does. And I'll show you exactly what I'm referring to. So, first and foremost, let's go over to this story from CNBC. One-time penny stock, Beyond Meat. Remember them? They were just the rage in 20, what was it, 2021 and 2022. I mean, this everyone was going to start using this. McDonald's, Burger King, it we were getting rid of meat altogether. is going to be replaced by Bill Gates's soy products or whatever it is to really increase the testosterone of young boys in the United States. That's obviously a joke. Okay, so one time penny stock down huge, but yet today it soarses 80%. 80%. Why? Because they announced amazing earnings. because they're selling a lot more product because they're increasing profits. Wrong. Simply because they were added to not just an ETF, a meme ETF. A meme ETF, which if you get added to a meme ETF, I that might be great for your share price, but think about what that says about your company. That's basically saying that you are a joke and your company sucks. That's really I don't know how to put it any other way. But let's look at this chart, guys. Going back to 2021, they were trading at 178. And I think that might be even a weekly chart because down here when you get into the article, they say at one time the stock was trading right here. At one time, the stock was trading for $230 a share. $230 a share. And before yesterday, you may ask yourself, well, where was it trading? That would be 50.0 50. Now, let's go back to right here 2022 or 2021 2022 and ask yourself, was there a great reason? Was there a very intelligent, wellthoughtout argument for being long uh Beyond Meat? Yeah, of course. Of course. Just like there's a great argument right now for being long AI stocks. Now, I'm not saying that AI stocks are beyond meat. I'm not making that comparison. What I am showing you is often the narrative can get way ahead of the price. Way ahead of the price. And if it does, there's a long way down. A long way down. And what this represents to me, you know, these prices is not just a good story, which they had back then, remember? And what's great about this is it's in recent memory. It's not like it happened in, you know, 2001 or something like that. I remember this very well. And the argument was they are going to take over everything. No one's going to eat meat anymore. The product tastes great. McDonald's is going to replace all of their uh I don't want to call it real meat, but pretend beef with this type of pretend beef. All the steak joints are going to do the exact same thing. And this is the only thing that the young millennial or the young uh Gen Z is going to want to buy because they're all going vegan. They're all going vegetarian. And this is all the rage. this and and it made sense. It made sense and they were going to increase their earnings. They're probably still losing money. That sound familiar? But it didn't matter. No, no, no. Because demand was skyrocketing. Remember, very similar to what we hear now. But the point here is this was a hysteria. This was a mania. And all they needed was just a great story, which they had. So, now let's go over to um what's happening today, right? That they get put into a meme ETF, which if you actually think about it, isn't really a good thing, and the stock jumps 80%. What does that tell you about the overall attitude in the market right now toward risk? To me, seems like a mania, seems like hysteria. But with everything w with everything pretty much except maybe treasuries. And now let's go over to another story from CNBC that is almost as unbelievable right here. And by and remember guys, we're going to circle back and we're going to connect all of this to gold and what I am doing and the big changes I've made in my personal portfolio today. based on what is happening with the price and a lot of other things too. Okay, so take back Tesla campaign urges, and this is just a lefty, you know, kind of the wokesters getting pissed off at Musk for doing Doge and everything, but what's more important is they're trying to get shareholders to reject Musk's 1 trillion, I repeat, one trillion dollar pay plan for one guy, a CEO. $1 trillion pay plan. Now, I get it. Musk is a great entrepreneur. He's Tony Stark, right? I I I totally understand that $1 trillion. And let's remember that Tesla, although they make a little bit of money, they don't make that much. They don't make that much money. It's just the share price goes up and up and up because I would argue Musk is a hell of a lot better salesman than he is a CEO and he's a good CEO. I'm not taking anything away from him, but he is one of the best salespeople or PT Barnums, let's say, of our time. Uh maybe the last hundred years. I mean, he is incredible. He's incredible. And there's going to be evidence in this very article, but if you go to Tesla, I mean, their last I checked, like their sales are declining. And if you live somewhere outside of the United States where they actually sell BYD, you look at all the BYDs and you don't see any Teslas. Like, where are all the Teslas? Because every time I turn my head, I see another BYD. And so you say, "Oh, George, but the the fact that they're selling cars, I mean, that doesn't even matter anymore." Yes, that's exactly what Musk wants you to believe because if you just focus on the car selling, he ain't going to get a trillion bucks. I can assure you of that. And where are they going to get the trillion dollar? I mean, I know this happens over the p the span of uh of uh 10 years, and it's through shares, you know, all these things. It's not like they're literally giving him a trillion dollars, but I mean, how is that not going to dilute shareholders? I mean, there's a lot of things that would have to happen perfectly in order for him to get the trillion dollars. But let's go down to what I think is more important. Um, you know, the the woke the woke group is sitting there saying, "Oh, you know, it's because of his political views." Who cares about his political views? Let's just talk about dollars and cents here. Let's just talk about the numbers for heaven's sakes. And let's talk about this just looking at the uh Tesla share price through just pure fundamentals which is what you should do. So I think personally just FYI the shareholders or the board they should be able to pay him whatever they want. I mean they want to pay him 10 trillion. Great. Pay him 10 trillion. What I'm saying is this this package might represent a peak in market insanity. It should be legal. They can do it. But it might represent a peak in market insanity, mania, whatever you want to call it. I mean, this is one of those headlines where you kind of look back 10 years later and you just say, "What were we thinking? What were we thinking?" And you'll notice that uh let's see Musk well I can't find the quote but Musk was talking about uh they're talking about okay have missed out on market cap soaring by 20 times since March of 2018. Right. But is that because Musk made more money? I mean a little bit. But is that because he sold more cars? I don't know. I don't even know if he's selling more cars than he did in 2018. So, is that does that mean he's doing an awesome job as a CEO because their sales have 10xed or 20xed? No. It just means that we're in a massive bubble. And I don't know I don't know that that Musk uh I mean, I'm sure he played a role, but the major tailwind there was the fact that we're in a speculative mania. Here you go. This was the quote I was looking for. This is straight from Musk. I am uncomfortable growing Tesla to be a leader in AI and robotics. What? I I thought you sold cars. And see, this is this is the game that he always plays, right? And this is and he can do this because you're in a speculative mania. If you weren't in a speculative media, there's no way he could pull this off where every single six months they're a different company. I mean, remember when they started off, they went from a car company and then he started talking, well, no, no, no, we're actually not a car company. We're a what was it? A a a clean energy company. And then we're a solar company. Oh, but now we're not a solar company. We're a battery company. Remember that one? And then, oh, no, no, no, no. We're not about We're not a battery company anymore. We're an autonomous company. Oh, no, no, no. We're not that anymore. Oh, no. We're a robotics company. Oh, no, no, no. We're not that anymore. We're we're an AI company. Of course, it's just whatever. It's It's the soup dour. Whatever is the flavor of the day. Musk is like, "Yep, that's what Tesla is." That's for sure. I can't wait for the next thing after AI. I would love it to be something like a coal company or uh uh coal is like the new whatever. Let's just pretend coal is the new energy source and the new rage and all the coal shares and coal companies are just going to the moon. I wouldn't be surprised if Mus said, "Oh, well Tesla were a coal company now." Or if gold continues to go up to like $10,000 an ounce, I guarantee you Tesla will be a a gold company somehow. But again, the point is there's no way he could do this if we weren't in a speculative mania and looking at Beyond Meat, looking at all these other things. So, how does this tie into the price of gold? Let's go back to the chart. And this you've got to I think if we're being objective about this, you you have to come to the conclusion that there is a significant portion of this price and especially this move more recently that that has some speculative overtones and it just rhymes with everything else that's happening in the market. Although I think there is also a tailwind of like risk off ironically enough because of the counterparty risk that's involved. But I think a lot of the especially more recent buying in this parabolic move right here was a result of retail getting involved. And one of the metrics I've used for this, some insider intel, is the premium that the average Joe and Jane are paying to buy actual physical gold from dealers. So back here, it was extremely low, extremely low, almost might even alltime low. And that which tells you that retails, they're net selling as far as physical. Then what happened? And I've got some people that are that own dealerships that are texting me all the time. And right around here, they're like, "Oh, George, the premiums are starting to increase." And so my question was, "Okay, where were they in like 2011?" And they said, "They're right around 10%." I said, "Okay, where were they now or where are they now?" They said, "Right around five, but we're up from like one." So that to me was a red flag. And then you had like India like literally running out of silver or that refining company and you had all these other things going on and then you had the complete price breakdown on the chart. And so for that reason combined with all of this other let's just say risk that's in the overall market that's why I punchline here I unloaded part of my position. Now what happened is gold went up so much in price that it was a a huge percentage of my overall portfolio. But I tend and you guys most of you know this from watching my videos. I always like to have gold around 10%. So what I did is I sold the gold position down to where it was 10% of my portfolio again. Now this is not personal investing advice. I'm just simply telling you what I'm doing and why. And if the chart looks a little bit better, if I get some other data points that would suggest retail isn't getting FOMO and piling in, maybe I'll buy again. But I I with the speculative positions in the portfolio, I really don't like to play the game when you get into the phase when there's just this massive massive volatility. To have that insurance position that I always have, that's great. That never goes away. But as far as the other, you know, big position that it turned out to be, I'm happy unloading here and just waiting to see what happens. Because, by the way, this 5% 5.5% decline that we've seen today is the biggest decline since when? You guys probably know the answer to this. That would be the the collapse we saw not just with gold but with everything during the surveys sickness. That was the that was the last time we had a decline to this degree as far as percentage terms. And that was a good time to sit back and just be like, eh, I'm going to wait to see how this one plays out. And then once things stabilize, then that's your buying opportunity. So I think it's important as investors that we don't get emotionally connected to a position because you believe that the government sucks, that gold is money, that fill in the blank that that's having like a religious type of view of gold. And I don't think that's healthy when you're setting up your portfolio. if your objective is riskreward or uh risk adjusted returns. That's probably the best way to say it. So, that's why I did what I did. But it all ties in to just kind of the AI bubble, this trillion dollar package for for what I don't know. uh with Musk with Beyond Meat um you know 80% bump just because they got really relegated to the bench or you know because they put on the dunce hat and went over in the corner which is basically what's happening when you're getting added to a meme ETF for heaven's sakes and it it's just all these things together it just feels very weird the markets right now it just feels like it's just something is not Right. And then you have the 10-year Treasury just plummeting, trading under 4%. I don't know. It it just And then you've got the the miners down 10 plus%. So for me, you get it. That's why I wanted to unload some of the position. And then that the chart looks terrible. And but I may get right back in next week. You'll have to stay tuned to the channel or better yet, subscribe to Robo Capitalist Pro and you'll get these updates in real time. All right, guys. On October 29th, I'm doing a huge webinar. It's going to be absolutely amazing. And the focus is how do the pros invest during times when we are obviously in financial bubbles like right now. And there's three contrarian types of strategies that I'm going to reveal on this webinar. I'm going to go through them step by step. So whether you're a noob or you're an expert, you're going to get a lot of value from this. There's really no downside. It's only upside. And the and it's a free webinar, by the way. And the huge bonus is you get a $500 coupon code for Rebel Capitals Live 2026, which is my incredible investment conference. And that takes the price of a ticket all the way down to 99 bucks. So, this is going to be an awesome opportunity to not only learn, but get that coupon code and really get into the nitty-gritty as far as how pros always seem to come out smelling like roses, you know, during these times of financial stress. And there's a reason. It's because usually they do the opposite of what the mainstream media tells you to do and what financial planners tell you to do, such as buy and hold, such as buy the dip, such as just take 10% of your paycheck and allocate it to a passive S&P index fund. That's what you don't want to do. or at least that's not that's I can't give you personal investment advice, but that's I think a very low probability outcome based on what all the pros that I know tell me. So, we'll put a link in the description below. You guys can go ahead and register on that bombshell. Enjoy the rest of your afternoon. As always, make sure you're standing up for freedom, liberty, free market capitalism, and we'll see you in the next video.
BREAKING: Gold Price Is Crashing (What You Need To Know)
Summary
Transcript
Hello fellow Rebel Capitalists. Hope you are well. So, we've got the gold price completely crashing today. And holy cow, did you see what happened to the gold miners themselves? We're going to go over the details, everything you need to know right now. And I'm also going to share with you what I'm doing with my own portfolio. Most of you know that I own a lot of gold. That is for sure. and I've made some big big changes. We'll discuss that at the end of this video. Okay, let's go ahead and do the screen share. Josh is completely MIA swiping on something. I'll let you guys decide what app he's using to swipe on, but here we go. Screen share. Okay, let's go over Well, boy, I don't know how to put this to you guys. It is ugly. Let's just go straight to a chart. And oh boy, daily chart down and it's trading at the lows of the day too. I didn't even realize that. So 4,122 that' be a decline of $237 just changed dollars down 5.44%. But this is nothing compared to the gold miners. So, just using the GDXJ, the juniors as a proxy for that. Look at that. Whoa. Look at the last month. Kaboom. K. And look at today. Geez. Talk about some volatility. So, we started the day at 106 roughly and we're trading at 94.88. That is a 1-day decline of, wait for it, 10.6%. 10.6% down in one day. Now, I know a lot of you might be saying, "Oh, well, George, this is a fantastic buying opportunity." Maybe, maybe. But look at the year-to- date chart. And that is what you call a falling knife, my friends. That that that is a falling knife. Now, we very well could rebound. We are obviously way overbought. So, maybe we just go back down to the whatever the 50-day moving average, 20-day moving average, whatever technical you want to throw in there, and maybe you rebound, go to all-time highs. I would not be surprised at all. But the bottom line is the volatility has increased. And usually usually you start to see the volatility really increase when you get towards the latter phases of the parabolic price move, the blowoff top, whatever you want to call it. And you see something similar in gold. Let's go back to that. Boy, that's tough to look at. We'll go to year-to- date chart. Yeah, something very similar uh with gold. So, now let's go over some other topics of the day and put the pieces of the puzzle together because at surface level, you may not think that ah this really doesn't pertain to gold. But in my view, it does. It does. And I'll show you exactly what I'm referring to. So, first and foremost, let's go over to this story from CNBC. One-time penny stock, Beyond Meat. Remember them? They were just the rage in 20, what was it, 2021 and 2022. I mean, this everyone was going to start using this. McDonald's, Burger King, it we were getting rid of meat altogether. is going to be replaced by Bill Gates's soy products or whatever it is to really increase the testosterone of young boys in the United States. That's obviously a joke. Okay, so one time penny stock down huge, but yet today it soarses 80%. 80%. Why? Because they announced amazing earnings. because they're selling a lot more product because they're increasing profits. Wrong. Simply because they were added to not just an ETF, a meme ETF. A meme ETF, which if you get added to a meme ETF, I that might be great for your share price, but think about what that says about your company. That's basically saying that you are a joke and your company sucks. That's really I don't know how to put it any other way. But let's look at this chart, guys. Going back to 2021, they were trading at 178. And I think that might be even a weekly chart because down here when you get into the article, they say at one time the stock was trading right here. At one time, the stock was trading for $230 a share. $230 a share. And before yesterday, you may ask yourself, well, where was it trading? That would be 50.0 50. Now, let's go back to right here 2022 or 2021 2022 and ask yourself, was there a great reason? Was there a very intelligent, wellthoughtout argument for being long uh Beyond Meat? Yeah, of course. Of course. Just like there's a great argument right now for being long AI stocks. Now, I'm not saying that AI stocks are beyond meat. I'm not making that comparison. What I am showing you is often the narrative can get way ahead of the price. Way ahead of the price. And if it does, there's a long way down. A long way down. And what this represents to me, you know, these prices is not just a good story, which they had back then, remember? And what's great about this is it's in recent memory. It's not like it happened in, you know, 2001 or something like that. I remember this very well. And the argument was they are going to take over everything. No one's going to eat meat anymore. The product tastes great. McDonald's is going to replace all of their uh I don't want to call it real meat, but pretend beef with this type of pretend beef. All the steak joints are going to do the exact same thing. And this is the only thing that the young millennial or the young uh Gen Z is going to want to buy because they're all going vegan. They're all going vegetarian. And this is all the rage. this and and it made sense. It made sense and they were going to increase their earnings. They're probably still losing money. That sound familiar? But it didn't matter. No, no, no. Because demand was skyrocketing. Remember, very similar to what we hear now. But the point here is this was a hysteria. This was a mania. And all they needed was just a great story, which they had. So, now let's go over to um what's happening today, right? That they get put into a meme ETF, which if you actually think about it, isn't really a good thing, and the stock jumps 80%. What does that tell you about the overall attitude in the market right now toward risk? To me, seems like a mania, seems like hysteria. But with everything w with everything pretty much except maybe treasuries. And now let's go over to another story from CNBC that is almost as unbelievable right here. And by and remember guys, we're going to circle back and we're going to connect all of this to gold and what I am doing and the big changes I've made in my personal portfolio today. based on what is happening with the price and a lot of other things too. Okay, so take back Tesla campaign urges, and this is just a lefty, you know, kind of the wokesters getting pissed off at Musk for doing Doge and everything, but what's more important is they're trying to get shareholders to reject Musk's 1 trillion, I repeat, one trillion dollar pay plan for one guy, a CEO. $1 trillion pay plan. Now, I get it. Musk is a great entrepreneur. He's Tony Stark, right? I I I totally understand that $1 trillion. And let's remember that Tesla, although they make a little bit of money, they don't make that much. They don't make that much money. It's just the share price goes up and up and up because I would argue Musk is a hell of a lot better salesman than he is a CEO and he's a good CEO. I'm not taking anything away from him, but he is one of the best salespeople or PT Barnums, let's say, of our time. Uh maybe the last hundred years. I mean, he is incredible. He's incredible. And there's going to be evidence in this very article, but if you go to Tesla, I mean, their last I checked, like their sales are declining. And if you live somewhere outside of the United States where they actually sell BYD, you look at all the BYDs and you don't see any Teslas. Like, where are all the Teslas? Because every time I turn my head, I see another BYD. And so you say, "Oh, George, but the the fact that they're selling cars, I mean, that doesn't even matter anymore." Yes, that's exactly what Musk wants you to believe because if you just focus on the car selling, he ain't going to get a trillion bucks. I can assure you of that. And where are they going to get the trillion dollar? I mean, I know this happens over the p the span of uh of uh 10 years, and it's through shares, you know, all these things. It's not like they're literally giving him a trillion dollars, but I mean, how is that not going to dilute shareholders? I mean, there's a lot of things that would have to happen perfectly in order for him to get the trillion dollars. But let's go down to what I think is more important. Um, you know, the the woke the woke group is sitting there saying, "Oh, you know, it's because of his political views." Who cares about his political views? Let's just talk about dollars and cents here. Let's just talk about the numbers for heaven's sakes. And let's talk about this just looking at the uh Tesla share price through just pure fundamentals which is what you should do. So I think personally just FYI the shareholders or the board they should be able to pay him whatever they want. I mean they want to pay him 10 trillion. Great. Pay him 10 trillion. What I'm saying is this this package might represent a peak in market insanity. It should be legal. They can do it. But it might represent a peak in market insanity, mania, whatever you want to call it. I mean, this is one of those headlines where you kind of look back 10 years later and you just say, "What were we thinking? What were we thinking?" And you'll notice that uh let's see Musk well I can't find the quote but Musk was talking about uh they're talking about okay have missed out on market cap soaring by 20 times since March of 2018. Right. But is that because Musk made more money? I mean a little bit. But is that because he sold more cars? I don't know. I don't even know if he's selling more cars than he did in 2018. So, is that does that mean he's doing an awesome job as a CEO because their sales have 10xed or 20xed? No. It just means that we're in a massive bubble. And I don't know I don't know that that Musk uh I mean, I'm sure he played a role, but the major tailwind there was the fact that we're in a speculative mania. Here you go. This was the quote I was looking for. This is straight from Musk. I am uncomfortable growing Tesla to be a leader in AI and robotics. What? I I thought you sold cars. And see, this is this is the game that he always plays, right? And this is and he can do this because you're in a speculative mania. If you weren't in a speculative media, there's no way he could pull this off where every single six months they're a different company. I mean, remember when they started off, they went from a car company and then he started talking, well, no, no, no, we're actually not a car company. We're a what was it? A a a clean energy company. And then we're a solar company. Oh, but now we're not a solar company. We're a battery company. Remember that one? And then, oh, no, no, no, no. We're not about We're not a battery company anymore. We're an autonomous company. Oh, no, no, no. We're not that anymore. Oh, no. We're a robotics company. Oh, no, no, no. We're not that anymore. We're we're an AI company. Of course, it's just whatever. It's It's the soup dour. Whatever is the flavor of the day. Musk is like, "Yep, that's what Tesla is." That's for sure. I can't wait for the next thing after AI. I would love it to be something like a coal company or uh uh coal is like the new whatever. Let's just pretend coal is the new energy source and the new rage and all the coal shares and coal companies are just going to the moon. I wouldn't be surprised if Mus said, "Oh, well Tesla were a coal company now." Or if gold continues to go up to like $10,000 an ounce, I guarantee you Tesla will be a a gold company somehow. But again, the point is there's no way he could do this if we weren't in a speculative mania and looking at Beyond Meat, looking at all these other things. So, how does this tie into the price of gold? Let's go back to the chart. And this you've got to I think if we're being objective about this, you you have to come to the conclusion that there is a significant portion of this price and especially this move more recently that that has some speculative overtones and it just rhymes with everything else that's happening in the market. Although I think there is also a tailwind of like risk off ironically enough because of the counterparty risk that's involved. But I think a lot of the especially more recent buying in this parabolic move right here was a result of retail getting involved. And one of the metrics I've used for this, some insider intel, is the premium that the average Joe and Jane are paying to buy actual physical gold from dealers. So back here, it was extremely low, extremely low, almost might even alltime low. And that which tells you that retails, they're net selling as far as physical. Then what happened? And I've got some people that are that own dealerships that are texting me all the time. And right around here, they're like, "Oh, George, the premiums are starting to increase." And so my question was, "Okay, where were they in like 2011?" And they said, "They're right around 10%." I said, "Okay, where were they now or where are they now?" They said, "Right around five, but we're up from like one." So that to me was a red flag. And then you had like India like literally running out of silver or that refining company and you had all these other things going on and then you had the complete price breakdown on the chart. And so for that reason combined with all of this other let's just say risk that's in the overall market that's why I punchline here I unloaded part of my position. Now what happened is gold went up so much in price that it was a a huge percentage of my overall portfolio. But I tend and you guys most of you know this from watching my videos. I always like to have gold around 10%. So what I did is I sold the gold position down to where it was 10% of my portfolio again. Now this is not personal investing advice. I'm just simply telling you what I'm doing and why. And if the chart looks a little bit better, if I get some other data points that would suggest retail isn't getting FOMO and piling in, maybe I'll buy again. But I I with the speculative positions in the portfolio, I really don't like to play the game when you get into the phase when there's just this massive massive volatility. To have that insurance position that I always have, that's great. That never goes away. But as far as the other, you know, big position that it turned out to be, I'm happy unloading here and just waiting to see what happens. Because, by the way, this 5% 5.5% decline that we've seen today is the biggest decline since when? You guys probably know the answer to this. That would be the the collapse we saw not just with gold but with everything during the surveys sickness. That was the that was the last time we had a decline to this degree as far as percentage terms. And that was a good time to sit back and just be like, eh, I'm going to wait to see how this one plays out. And then once things stabilize, then that's your buying opportunity. So I think it's important as investors that we don't get emotionally connected to a position because you believe that the government sucks, that gold is money, that fill in the blank that that's having like a religious type of view of gold. And I don't think that's healthy when you're setting up your portfolio. if your objective is riskreward or uh risk adjusted returns. That's probably the best way to say it. So, that's why I did what I did. But it all ties in to just kind of the AI bubble, this trillion dollar package for for what I don't know. uh with Musk with Beyond Meat um you know 80% bump just because they got really relegated to the bench or you know because they put on the dunce hat and went over in the corner which is basically what's happening when you're getting added to a meme ETF for heaven's sakes and it it's just all these things together it just feels very weird the markets right now it just feels like it's just something is not Right. And then you have the 10-year Treasury just plummeting, trading under 4%. I don't know. It it just And then you've got the the miners down 10 plus%. So for me, you get it. That's why I wanted to unload some of the position. And then that the chart looks terrible. And but I may get right back in next week. You'll have to stay tuned to the channel or better yet, subscribe to Robo Capitalist Pro and you'll get these updates in real time. All right, guys. On October 29th, I'm doing a huge webinar. It's going to be absolutely amazing. And the focus is how do the pros invest during times when we are obviously in financial bubbles like right now. And there's three contrarian types of strategies that I'm going to reveal on this webinar. I'm going to go through them step by step. So whether you're a noob or you're an expert, you're going to get a lot of value from this. There's really no downside. It's only upside. And the and it's a free webinar, by the way. And the huge bonus is you get a $500 coupon code for Rebel Capitals Live 2026, which is my incredible investment conference. And that takes the price of a ticket all the way down to 99 bucks. So, this is going to be an awesome opportunity to not only learn, but get that coupon code and really get into the nitty-gritty as far as how pros always seem to come out smelling like roses, you know, during these times of financial stress. And there's a reason. It's because usually they do the opposite of what the mainstream media tells you to do and what financial planners tell you to do, such as buy and hold, such as buy the dip, such as just take 10% of your paycheck and allocate it to a passive S&P index fund. That's what you don't want to do. or at least that's not that's I can't give you personal investment advice, but that's I think a very low probability outcome based on what all the pros that I know tell me. So, we'll put a link in the description below. You guys can go ahead and register on that bombshell. Enjoy the rest of your afternoon. As always, make sure you're standing up for freedom, liberty, free market capitalism, and we'll see you in the next video.