SILVER Market 'Out of Control' – These Price Moves are 'Dangerous': Bob Moriarty
Summary
Precious Metals: Guest is strongly bullish on gold, silver, and platinum, citing central bank buying, Shanghai market influence, and deteriorating macro conditions.
Silver: Discussed gold/silver ratios (53:1 and 30:1) implying potential targets of roughly $83–$150/oz, while sentiment (DSI ~77) suggests the public is not yet in.
Platinum: Noted historical premium to gold and tiny market size, arguing it could “explode higher” with extreme daily moves as investor flows increase.
Gold: New all-time highs driven by deficits, fiat debasement, and geopolitical stress; guest warns of eventual sharp corrections as public participation surges.
Junior Miners: Expects outsized upside when retail enters, with juniors potentially rising 5–10x more than majors; describes the junior market’s small size as a catalyst for explosive moves.
Mining Stocks: Despite YTD strength and ETFs like GDX and SIL outperforming, the guest argues the sector remains historically cheap relative to metal prices.
Macro Risks: Highlights the unwinding of the Japanese yen carry trade (~$12T), rising long-term rates, and potential banking stress as powerful tailwinds for metals and volatility risks.
Investment Stance: Sees a generational opportunity in metals and miners but emphasizes risk management, expecting dramatic run-ups followed by significant corrections.
Transcript
Hello everybody. Welcome into commodity culture where we break down commodities markets, sound money principles, and geopolitics. All with the goal of making you a better investor in the commodities sector. Today is December 22nd, 2025. My name is Jesse Day, and today I'm joined by Bob Mori Arti, the founder of 321gold.com and a former marine fighter pilot who holds 14 international aviation records. Both gold and silver have recently hit new all-time highs, and platinum is almost there. Bob breaks down the catalysts driving all three metals, why he thinks they're set to explode higher, and why that won't necessarily be a good thing for the global economy and society at large. Bob also dives into what's behind Trump's desire for regime change in Venezuela, Israel's total domination of American politics, why the war in Ukraine can only be settled on the battlefield, and so much more. If you love silver as much as me, you're going to love the commodity culture stack silver, not fiat t-shirt, a shirt by a stacker for stackers. Pick one up using the link in the description below. And now on to my interview with Bob Morardi. Bob Morardi, great to have you back on Commodity Culture. I want to kick things off by discussing the precious metals. All three of them, all three of the major ones at new all-time highs. But I want to start with silver now over $69 an ounce. Incredible move this year. Uh well over 100% now yeartoate gains on silver. The calls for tripledigit silver keep getting louder. It's it's harder to ignore them, especially when we see how far and how fast silver is moving. Do you think we see $100 silver in 2026? And what are your overall thoughts on the trajectory of the silver market? >> Well, we we may not have to wait until 2026. Okay. Um I I did an interview yesterday and I realized something that's very important. Uh there is a food chain with the metals and the first metal that goes up is gold and then the second metal that goes up is silver and then the third metal that goes up is platinum. And platinum hasn't quite hit an all-time high. It's still about 5% less than alltime high. As we are recording this, uh, platinum is up 4 and a half% to 92 bucks share at $69 silver. What can you say? Now, I use two things to judge investments. One is history, which is very important, and the other is the daily sentiment indicator. Now I did some research into silver a few years back. For half of the last hundred years, silver was some monetary metal and then in 1964 uh we dropped it. It's a monetary metal. 1965 and beyond it was not a monetary metal. The average price for 100 years is 53 to1. Now, we got to I I think 30 or 32-1 silver relative to gold in 2011. So, I I use 53 to one as one measure and uh another measure of 30 to one. At at 53 to1, silver could be $83 an ounce and at 30 to1 silver could be very close to $150. I don't think this is an ordinary market. I think that the market is literally out of control. It is not controlled by comics. It's not controlled by Chicago or London. It's controlled by Shanghai and central banks. But the moves in gold, silver, platinum, I I think are actually very dangerous. And France used made an interesting comment recently and said you don't really want to live in a world of $10,000 gold. And I say because it implies $40 a gallon gasoline. >> Yeah, that's a very good point. Now, I want to home in on platinum for just a moment here. You're right, not at all-time highs yet. We're within spitting distance. Um, I got a little overzealous in that intro, but we are at over $2,000 an ounce at this point. A tremendous run. Platinum has been kind of under the radar of most investors at this point. Now, a lot of people have to be waking up and paying attention. Do you think we're still undervalued at these levels? Do you think obviously Main Street, let alone financial adviserss have yet to catch on to this run in platinum? Could could we have a long ways to go from here in your view? >> Well, historically going back to when it was first identified as an element, which around 1720, uh, platinum has almost always had a premium to gold. So, platinum would still be cheap at $4,400 an ounce. if it does what roodium does. And you got to understand gold is a great big market. Silver's a fairly small market. Platinum's a tiny market. And roodium is a market the size of pencil lead. If you pour the same amount of investment funds into each of them, you get moves like roodium going from 625 to 28,000. Could platinum explode higher? Absolutely. >> Now, gold, of course, also hits new all-time highs. Um, what do you think are the main drivers for gold right now? Because obviously central bank buying is a big one. That's one of the arguments people were always making for why silver was not performing earlier in the year is that well, central banks are buying gold, they're not buying silver. Obviously, that's a very big catalyst. the debt and deficits issue in the United States and around the world, debasement of fiat currency, geopolitical uncertainty. I mean, take your pick. How are you currently viewing the trajectory of the gold market? Well, here's what's really interesting and strangely enough, we need to invert your question. The real question shouldn't be who is investing in the metals. The real question should be who's not investing in the rare rare rare metals. Now I I am a giant fan of the daily sentiment indicator. If you had a hundred different ways to measure sentiment, it is the very best. Absolutely hands down. I called the bottom of gold in 2001. I called the bottom silver in November 2001. I topped I called it sell on gold in 2008. I called this top in silver 2011. So, I made a ve a lot of very good calls. I don't try to call every single move, but I've gotten a lot of things right. So, when silver hit an all-time high last week, I went to take a look at the daily sentiment and I was thinking it's going to be 90 92 something like that. it was 77. Okay, 77 is not enough to say we're going to have a correction. 77 is relatively neutral number. And the same thing was true of gold. Now, platinum and platium had a DSI of 88 and those suggest a correction coming soon, but as we speak, platinum's up $104 an ounce, which is remarkable. But the real key is the investing public is not in this market. When the investing public wakes up and says, "Gee, I need to buy some platinum or some silver or some gold, these these markets are going to explode higher." That's not a good thing. That will mark, okay, we're going to have a major correction, but the the I I don't know who's doing it. It's not ComX. It's not Chicago. It's not London. It's it's almost inevitably Shanghai, but it's also hedge funds who are now saying you need to keep 20% of your assets into metals. If we had a 3% or 4% investment from hedge funds in metals, the metals would be five to 10 times higher than what they are now. So the potential is extremely high. Uh this is not a good time to be investing. The good time to be investing was when silver was four bucks an ounce 25 years ago and gold was under 300. Uh I I have been hammering the table for the last 5 years saying that platinum's cheap, but yesterday it was cheap. Today it's expensive. >> Well, talk to us a little bit more about China's role in all of this. You mentioned the Shanghai gold exchange. Um obviously when it comes to the government as well as the citizens themselves, they view precious metals as money far more than we do in the West. How do you see China influencing the precious metals markets overall as we move into 2026? >> I I think they're making the market right now. I think they are the biggest influence. Now, there's some other things that we should mention. Have Have you interviewed anybody to talk about the Japanese carry trade lately? Uh yeah, there's I bring it up fairly regularly on the show when I talk to people. Just the current state of the Japanese bond market and what it could mean for the carry trade as well. >> Okay. Well, the the bond market in Japan is exploding higher. The yen was crashing. The Japanese had a choice. They could either save the yen or they could save the world's financial system. And they said screw the world's financial system. But the the yen carry trade, the best number I can come up with is $12 trillion. And the entire $12 trillion is in the process of being unwound today. Now, let me give you some numbers. The end carry trade, it's 12 trillion. It looks like it's all going to be unwound. There's no longer an economic basis for the yen carry trade because interest rates are too high. The cryptocurrencies got up to a high of $4 trillion and they've lost a trillion dollar in the last 6 weeks. They're down to about $3 trillion. Those those are big numbers. Those are a lot bigger numbers than uh 2008. So there's some very dangerous things happening now. I I just have this gut feel that Japan, which happens to be the biggest holder of US bonds and China coming in second. I think that they're unloading the bonds. I think long-term interest rates are going to go higher, perhaps much higher, and this could be the real deal for metals. Will it go curve linear when the public gets involved? Absolutely. I mean, when you start seeing platinum up 250 bucks a day and silver up $10 a day and gold up $500 today, you're going to be near the top. There will be a correction. Period. So, there'll be an opportunity at some point to actually take some money off the table and hold it for better times. But the public is not in this market. And when the public gets in the market, we're going to see moves like most people have never dreamed. But let's go back to size. I ask the smartest investor I know what the size of the resource junior market was. And he said, 'Well, companies under a billion dollar in net assets um is about $80 billion. And I said, well, I'm not interested in 500 or 600 or 800 million dollar companies. I'm interested in small companies. Juniors under$und00 million market cap is $14 billion. $14 billion is not even a rounding error compared cryptocurrencies or compared to the Japanese carry train. So, we are going to see explosive moves in the metal. We're seeing this right now. I did an interview on Friday. It said platinum is going to explode. I think and and I I could be wrong. I think this is the biggest move at platinum in one day in history. So that that was a good call, but the real explosion is going to be when the public decides they want to get into the junior mining stocks. The sponsor of today's episode is Arc Silver Gold Osmium. Owner Ian Everard is praised even by his competitors as one of the most honest and level-headed bullion dealers in the United States. They have some great prices. You can see some of them displayed right now on screen. Take advantage of these specials today by reaching out to Ian at 3072649441 or by email at ianarchcsggo.com. Make sure to tell him of course that Commodity Culture sent you. And now back to the interview. Yeah, that's a that's a great point. And the miners obviously an area that have also done extraordinarily well year to date. both gold and silver miners, the GDX and SIL ETFs up dramatically, vastly outperforming the broad market. And yet, when it comes to the mainstream press, they don't have a single thing to say. They're still arguing about why Nvidia and Open AI is the future. And there not not a word about this massive run in the miners. Um, so do you still think we're in early days when it comes to the mining space as well? >> Absolutely. When you see rodeium at 29,000 and when you see juniors up 20fold, uh that would be a time to take some money off the table. If you go back to 2008, it was perfect analogy. all of the metals topped and the juniors got absolutely creamed and and there were something like 100 or 200 companies on the TSXV in October of 2008 that were selling for less than the cash they had on hand. >> Wow. Now, when it comes to the mining sector, you're talking about that you're focused on the smaller companies. Is there still opportunities to be had in the developers, in the producers, even royalty streaming at this uh point? Because I've spoken to some people who say even the majors are quite undervalued at the moment considering the gold price and where they think it's headed. >> Well, considering the price of gold and silver, the the resource market in general, and that's from the biggest of the big to the smallest of small is the cheapest it's been in history. And you talk about big moves this year, the move should have been three or four times higher. Okay, so in relative terms, the gold mining stocks have not done this well. I mean, $4,400 gold. Give me a break. That's a lot of money. The first gold I ever bought, I paid 35 bucks. A hundred years ago, gold was $2067 an ounce. Now, how many things in 100 years have gone up 200fold? But gold has. So, uh the the juniors well actually the majors are going to have their day, but the juniors going to go up five to 10fold more. Well, I want to shift to discussing geopolitics for a moment because 2025 has been a major year and not for very good reasons in my view. We had Trump's first year of his second term as president. Um, one that I think started off at least with some hope, but turned out to be a total disaster. That's just my opinion. Maybe you have a different view. We add Israel and the US attack Iran in addition to continuing the genocide in Gaza. A growing trade war between the US and China. the EU leadership losing their collective minds and declaring their will to sacrifice anything, including their own people, which could be happening up ahead, for victory in Ukraine. The list goes on. What stands out most to you, and what would we be most what should we be most concerned about and focused on as we move into 2026? >> Well, we we need to define Trump as the peace president. >> Yes. I mean, he's he settled eight conflicts this year. Uh there is something absolutely repulsive about the United States taxpayers paying for the ordinance that Israel is using to massacre people in Gaza and the West Bank. And I I I think the Zionist and Zionism is not the same thing as Judaism is very important. They want to confuse issue and it's 60% of American Jews are against the the genocide and 84% of the Israeli Zionists are for massacre women and children. I saw a video, it'll be posted on my site tomorrow, of two IDF soldiers shooting a kid at point blank range who just walking down the street in the West Bank. And of course, it is part of the Jewish religion. It is there is a special prayer that they say at Yam Kapor that allows them to lie. So the very first thing the IDF said, "Oh, he was throwing rocks at us. He was carrying a big block." No, he wasn't. He was a kid walking down the street and they shot him from 15 ft away. That is cold bloodooded murder. Okay. some of the things we did like uh blowing up the first boat on September 2nd, okay, under the opaces that it was a drug boat. Uh I don't know how much you remember about that particular attack, but it was a boat that had four engines, which is a lot more than you need to travel 25 miles, which is what it was doing. And it had 11 people on board. So, if you got four engines on your boat, which would cost a lot of money, is there a pretty good chance that they were smuggling? >> I mean, I don't know anything about drug smuggling, but all all I know is that the administration has not presented any concrete evidence as to those boats smuggling drugs, which kind of tells me a lot. >> Yeah. But here's the deal. Ordinary people who have learned to ask the right question can learn things for themselves. There were four engines on the boat. Now that that's pretty unusual. Those engines are 50 or $60,000 a piece. You you would need two engines to have some redundancy for the trip that they were doing. Four engines. Yeah, there's a pretty good chance smuggling. But there were 11 people on board. If the average guy weighs 100 kilos, okay, which of a fat guy uh 100 kilos of cocaine, it's worth 2.5 million. So if you were smuggling, would you rather smuggle $2.5 million worth of cocaine or one fat guy? And the answer is you'd rather smuggle the cocaine. If there were 11 people on board that boat, they were not smuggling drugs. They were smuggling people. Very interesting. So you believe that they were actually human traffickers and so in that case that's that's a that's a bad term to use. Okay. Yes, they absolutely could have been human traffickers. However, with all this that's going on with the United States and Venezuela, if I was in Venezuela now, I'd be looking for a guy who's got 4 on its boat and say, "Hey, you know how how about I give you 10 grand to take me to Trinidad and Tobago >> 25 miles away." Okay. So it it's sort of human trafficking, but it's not human trafficking like Biden administration was doing through Mexico. >> U yeah, they were smuggling people. Could there have been drugs? Yeah, I suppose there could have been, but nobody smuggles drugs with 11 people on a boat. >> Yeah, that's a very good point. And we should dive into that a little deeper because Trump obviously continuing to threaten Venezuela with regime change and has built up US military assets in that region in region. In addition to seizing an oil tanker and as you mentioned murdering boatloads, that wasn't the only boat strike. There were several of Venezuelans claiming so-called drug smuggling. Um, is this just about oil in your view? Because Trump also recently made some comments that Venezuela stole a bunch of oil assets that I guess American companies had previously had there and that they're going to take the oil back. Um, it all seemed kind of vague. Is it about oil? Is it about displaying America's dominance to let the world know US hijgemony isn't going anywhere? Is there something else behind the scenes you think is going on? What are your thoughts? >> Epstein. >> Yeah. Okay. Dive into that for us. >> Okay. Well, here here's what's funny. Uh Donald Trump and Epstein were best buddies for at least 10 years, perhaps more than that. If Epstein was trafficking in underage women, and there's no question he absolutely was, there were hundreds of victims and there were hundreds of perpetrators. There isn't a single perpetrator who's been brought up on charges. Now, how difficult would it be to identify the people who are banging 15 and 16 year old kids? And the answer is not very difficult because Blondie came out and admitted they've got 10,000 hours of videotapes. But the key is and and Donald Trump has proved it over this weekend with the so-called release of the Epstein files. He He's just as dirty as he could be and it's going to bury his administration. So if you ever watch the movie Wag the Dog, the whole Venezuela operation is a Wag the Dog operation to take attention away from Donald Trump's very real, very tight connection to Epstein. Donald Trump is serial bankrupt. He is a serial rapist. He is a serial cheat. There's a video that's available at YouTube with Donald Trump talking to Epstein about young girls and Donald Trump comes out says 12y old girls are definitely too young. Now 13, that's okay. And that's one of those things like uh how do you know? Yeah, I I don't remember seeing any books or any videos or anything talking about 13y olds and sex. U Donald Trump is a pervert. It's obvious that he's a pervert. He's a child molester and he's covering up for it. Now, what drug is it that Donald Trump is trying to identify Venezuela with? Fentanyl is what he keeps saying. >> Okay. The DEA says there's no fentanyl coming out of Venezuela. Would there be coming coke coming out? Absolutely. Would there be marijuana coming out? Absolutely. Fentanyl comes from China. It's imported through Canada. It's imported through Mexico. It's imported through Honduras. It's not imported through Venezuela. Uh the whole concept of did they steal oil from American companies. Well, yeah. Kind of. Okay. They they brought American companies in and they invested billions of dollars, perhaps trillions of dollars in oil because it's the biggest oil reserve in the world. And Venezuela nationalized it. But I Iran nationalized oil in 1953 and we overthrew their democratically elected government. Okay. This this concept of who owns it is important and it's not something that's been settled. So does the oil belong to Venezuela or does it belong to the United States? Quite bluntly, most of the countries in the world are going to say that belongs to Venezuela, but would Donald Trump use it to cover up for his crimes with Jeffrey Epstein? And yeah, of course he would. >> Yeah, that's actually another angle that I'd thought of as well. And I'd like to continue that thread for a moment here because Trump also recently held an event to talk about how much he loves Israel and how much he's done for Israel. Uh noted Zionist Mark Levan, a radio show host, grabbed Trump. Trump looked a little uncomfortable. It almost looked like a situation of the master grabbing the servant um and then talked about how Trump was the first Jewish president. To which Trump replied, "That's true." which appears to confirm what I have previously suspected, which is that the US government is 100% controlled by Israel essentially. Maybe 100%'s an exaggeration, I don't know, but obviously their influence is absolutely insane. Would you agree with that? Does that also tie into the Epstein um the fact that many people believe he was a MSAD agent and working on behalf of Israel? So perhaps the amount of dirt that they have on Donald Trump forces him to essentially be in this sort of humiliating situation where you got this this scumbag Mark Leaven grabbing on to him and saying that's our Jewish president and he's got to say yes yes yes I am sir. What are your thoughts there? Well, absolutely. And and I will say the the only disagreement would be the percentage of Israel's control over the United States. It's not 100%. It's 110% or 115% or 120%, but it's not 100%. They control everything. Now then, who did Jeffrey Epstein work for? >> Many people believe MSAD. Many people believe potentially other intelligence agencies were involved as well. >> Okay. Whitney Webb has written a two two book series talking about uh the intelligence agencies using uh things like Epstein was using uh for purposes of blackmail. We we know that the head of the FBI blackmailed everybody in Washington DC and and when he died, okay, they had to rush and find them and burn them. But uh a MSA a former MSAD head has come out and admitted that Jeffrey Epstein absolutely worked for the MSAD. So if Blondie has 10,000 hours of incriminating tapes of men, rich and powerful men, uh, having sex with underage women, how many hours do you think the Assad's got? >> Yeah, that's a good point. >> They've got every single one of them. And would they blackmail Donald Trump? I I have seen a video that I believe is true that says Jeffrey Epstein is still alive. And in the video he said, "If Donald Trump doesn't do what we tell him to do, we'll kill him." at uh Israel has committed more assassinations in the last 50 years than every other country in the world combined. So, are they capable and willing to assassinate president of the United States? Well, hell yeah. They already did 1963. But uh we we're in a very dangerous position because I think the Zionists have stepped across the line. Clearly they always wanted to control the Middle East and now people are recognized that they controlled the United States for 30 or 40 years. They absolutely controlled Europe. They don't want to control the Middle East. They don't even want to control the Middle East and Europe. They don't even want to control the Middle East, Europe, and the United States. They want to control the whole flipping world. Okay? If your readers don't or your viewers don't believe that, they should go to Google and they should put in the largest funeral in Israel's history of this rabbi. And the rabbi said, "The only purpose of the is to be our servants." the whole world economic forum, the whole banking system. And I I think they intend to blow up the banking system. I see no way the banking system can survive as it exists today. And I not only see it, I see it happening very soon. Uh there's another book that's very interesting called The Great Taking and the laws are in place in the United States for seizing virtually all assets when the banks collapse. Now if you remember the World Economic Forum, the saying that they had that in 2030 you will owe nothing and you will own nothing and you will be happy. First of all, that's the definition of a slave. But I got a house here. Okay. Now, let's say I got a mortgage, which I don't have. And let's say the banks collapse. And let's say the bank comes in says, "Okay, now we own the house." All these assets that exist today, people think about, well, the banks are going to steal it from me, and they're afraid of that, and they should be afraid of that. But the key is somebody's got to own it. So if you own nothing and you owe nothing and you're a slave, all you got to do is figure out who you're in slavery to. And and I think that's so obvious today. If you think you support Israel and you support going on what's going on in Gaza and the West Bank, you're just going to love the IDF running your prison camp. Well, let's discuss quickly how the EU fits into all of this because there's been these off on again off-again peace negotiations where America comes in and says we're going to, you know, they drafted this 28 or 29 point peace plan. A lot of it Russia could not accept, but on Putin's side, they said, "Well, we might be able to work with it." Of course, the EU loses their collective minds. They have their own meetings. They come out and say, "Actually, here's our proposals." And they were all, it was just ridiculous nonsense that Russia would never accept in a million years. and they knew that. So, they're essentially saying, "We want the war to continue no matter what." They're now talking about conscription. Mertz is up there uh giving a speech talking about, "Well, we're going to try to voluntarily get people to join the military, but if we don't get enough people, we're going to have to consider mandatory conscription." Poland has talked about this, too. Several nations in the in the EU are now talking about mandatory conscription. What is going on here? Is the EU really willing to conscript their people and throw them into the meat grinder? Is this more of a threat hanging over everybody's heads to just exert more control? Is this distraction? Is this cover from the collapse of their own economies? Uh what what are your thoughts on the role the EU is playing in all this? >> Well, you just nailed it right there. Of course, this is to cover the collapse of their economies. Now, you talked about uh peace discussions. There have been no negotiations about peace. Zero. Okay. On December 17th of 2021, Putin came out and said, "Look, here's the deal. The illegal government in Ukraine has killed 16,000 people who are essentially Russians. The Nazis actually run the country and they want to join NATO and none of those are acceptable. Okay, Ukraine is not to join the EU or NATO. The Nazis got to stop murdering people in cold blood and you got to stop shelling women and children. He has not changed his demands a single sentence, a single period, a single word. What Putin wants, first of all, he's going to get and second of all, they're absolutely the written Iraq. Now, the EU comes out and says, "Well, hell, we want a ceasefire." Well, they did that with the mint agreement back in 2014. And during the ceasefire, they supplied Ukraine with ammunition to kill 16,000 Russians. And the Mids 2 agreement actually provided for selfdetermination for the breakaway republics. Now, what does that mean? That means that uh the breakaway republics had the right to vote and they could say we want to be part of the illegal government that was overthrown uh by the United States and the biggest coup d'etatah in history or we want independence or we want to be with Russia. There have actually been two votes and the votes were in the high 90% of the people in Dbass absolutely wanted nothing to do with the government in Ukraine. Uh do you know what the word Ukraine actually means in Russian? No, I don't. It means borderland. Okay. The concept of Ukraine as as a country going back 500 years is the borderlands, Ukraine. And it used to when I was a kid, we never talked about Ukraine. We talked about the Ukraine because it was the borderlands. Uh Putin wants protection from Europe. He demanded it. John F. Kennedy wanted the same thing in 1962. He wanted secure borders. He didn't want Soviet Union nuclear vessels 90 miles from Key West. That's perfectly reasonable. The strange thing is all the guys that are pro- Ukraine have never listened to Putin, never listened to Lavough, never read anything that these guys have written. The United States started the war in Ukraine. Now, Donald Trump absolutely could have ended the war with one phone call. Now then, what's the most corrupt country in Europe? I've heard that it's Ukraine. Okay. Uh, Zalinski had a bagman. Okay. He was the guy who who shuffled money around for Zalinski. And he was arrested and the police went into his bagman's office and look for papers, anything talking about corruption. They found $25 million in cash. Now, would that be a fairly good indication of corruption on the part of the Ukraine government? Actually, not. What really showed the level of corruption were the receipts for $2.6 billion in wire transfers. Now, these these people are so stupid and so arrogant, they left the wire transfer instructions in this guy's office. We know exactly who stole the money. We know who stole it from. We know where the banks are, but you don't hear that in the news. >> So, where is this all headed? Is the only way for this conflict to come to a close a Russian victory on the battlefield at this point? >> Yes. And it it's going to be sooner than anybody realize what Russia is doing. And this is a giant FU to the EU and NATO is they're going to seize Odessa and they've got troops there now and they cut the city in half. And once Ukraine no longer has access to the Black Sea, Ukraine's going to be a it's not going to be a third world country. It's going to be a fourth world country. But uh the the leaders in the EU with one or two exceptions are bunch of Chihuahua. Okay? They have the lowest ratings in in France, in the UK emerge. Okay. The the citizens in the U EU realize these people are blithering idiots. The military in the UK, 75,000 troops. I I've been to Girl Scout Jamberees where they had more than 75,000 people. Well, Bob, this has been a fantastic conversation as always. Uh, tell us about 321g gold.com and anywhere else you want to direct people, feel free. Well, uh, strangely enough, we started 321 gold 24 years ago because I looked at the state of gold, the state of silver. Gold was $262, now silver, it's $43. I I can't remember what platinum was. It wasn't actually cheap back then. It's probably 1,200 1,500 bucks. But I looked at it and I realized that if you took the percentage investment of the total investment pie that was in resources, it it was like a third of 1%. And the resource market had to increase substantially and the price of gold, silver had to increase. Now, would I have been smart enough to predict $69 silver? N that smart. Would I be smart enough to predict uh $4,400 gold? Nope. I'm not that smart. I I actually am afraid of these because it suggests $40 a gallon gasoline. It suggests hyperinflation and it suggests the collapse of the world's financial system. All of which has happened before in the past and easily could happen again. What we're trying to do is we're trying to educate people. Uh I I do 10 interviews a month. I don't make a penny off of the interview. There is nothing that it does for me. I'm trying to educate people and I've been right about a lot more stuff that I've been wrong on. And this is generational opportunity to one protect your assets and two make profit like people have never dreamed before. The debtbased system of the west that's been in place for 500 years is collapsing. China knows it, India knows it, Brazil knows it, Russia knows it, North Korea knows it, but of course the mainstream media in the west lies about everything. So, uh, Americans and Europeans are just stumbling around in the dark with no clue. and the worst leaders in in just modern history. It's incredible how stupid these people are. So, it's it's a very dangerous time and we're trying to educate people and that's my contribution. >> Great. Well, I'm going to put a link in the description below to 321old.com. Always appreciate your insights, Bob. Thank you so much for coming on the show, >> Jesse. Good questions and it's always fun. >> Thank you for joining us today. Our sponsor Arc Silver Goldium has some great prices on gold and silver bullion products. They are on your screen right now. Take advantage while supplies last. Subject to change. Reach out to owner Ian Everard today at 3072649441 or by email at ianarchsgo.com and make sure to tell him that commodity culture sent you. And pick up your stacks notfiat t-shirt today backed by a 100% quality guarantee. The link is in the description below and I'll see you guys in the next episode. Commodity Culture is a series on commodities and natural resources. If you would like to see more, be sure to subscribe and hit the bell notification so you're always up to date with the latest episodes.
SILVER Market 'Out of Control' – These Price Moves are 'Dangerous': Bob Moriarty
Summary
Transcript
Hello everybody. Welcome into commodity culture where we break down commodities markets, sound money principles, and geopolitics. All with the goal of making you a better investor in the commodities sector. Today is December 22nd, 2025. My name is Jesse Day, and today I'm joined by Bob Mori Arti, the founder of 321gold.com and a former marine fighter pilot who holds 14 international aviation records. Both gold and silver have recently hit new all-time highs, and platinum is almost there. Bob breaks down the catalysts driving all three metals, why he thinks they're set to explode higher, and why that won't necessarily be a good thing for the global economy and society at large. Bob also dives into what's behind Trump's desire for regime change in Venezuela, Israel's total domination of American politics, why the war in Ukraine can only be settled on the battlefield, and so much more. If you love silver as much as me, you're going to love the commodity culture stack silver, not fiat t-shirt, a shirt by a stacker for stackers. Pick one up using the link in the description below. And now on to my interview with Bob Morardi. Bob Morardi, great to have you back on Commodity Culture. I want to kick things off by discussing the precious metals. All three of them, all three of the major ones at new all-time highs. But I want to start with silver now over $69 an ounce. Incredible move this year. Uh well over 100% now yeartoate gains on silver. The calls for tripledigit silver keep getting louder. It's it's harder to ignore them, especially when we see how far and how fast silver is moving. Do you think we see $100 silver in 2026? And what are your overall thoughts on the trajectory of the silver market? >> Well, we we may not have to wait until 2026. Okay. Um I I did an interview yesterday and I realized something that's very important. Uh there is a food chain with the metals and the first metal that goes up is gold and then the second metal that goes up is silver and then the third metal that goes up is platinum. And platinum hasn't quite hit an all-time high. It's still about 5% less than alltime high. As we are recording this, uh, platinum is up 4 and a half% to 92 bucks share at $69 silver. What can you say? Now, I use two things to judge investments. One is history, which is very important, and the other is the daily sentiment indicator. Now I did some research into silver a few years back. For half of the last hundred years, silver was some monetary metal and then in 1964 uh we dropped it. It's a monetary metal. 1965 and beyond it was not a monetary metal. The average price for 100 years is 53 to1. Now, we got to I I think 30 or 32-1 silver relative to gold in 2011. So, I I use 53 to one as one measure and uh another measure of 30 to one. At at 53 to1, silver could be $83 an ounce and at 30 to1 silver could be very close to $150. I don't think this is an ordinary market. I think that the market is literally out of control. It is not controlled by comics. It's not controlled by Chicago or London. It's controlled by Shanghai and central banks. But the moves in gold, silver, platinum, I I think are actually very dangerous. And France used made an interesting comment recently and said you don't really want to live in a world of $10,000 gold. And I say because it implies $40 a gallon gasoline. >> Yeah, that's a very good point. Now, I want to home in on platinum for just a moment here. You're right, not at all-time highs yet. We're within spitting distance. Um, I got a little overzealous in that intro, but we are at over $2,000 an ounce at this point. A tremendous run. Platinum has been kind of under the radar of most investors at this point. Now, a lot of people have to be waking up and paying attention. Do you think we're still undervalued at these levels? Do you think obviously Main Street, let alone financial adviserss have yet to catch on to this run in platinum? Could could we have a long ways to go from here in your view? >> Well, historically going back to when it was first identified as an element, which around 1720, uh, platinum has almost always had a premium to gold. So, platinum would still be cheap at $4,400 an ounce. if it does what roodium does. And you got to understand gold is a great big market. Silver's a fairly small market. Platinum's a tiny market. And roodium is a market the size of pencil lead. If you pour the same amount of investment funds into each of them, you get moves like roodium going from 625 to 28,000. Could platinum explode higher? Absolutely. >> Now, gold, of course, also hits new all-time highs. Um, what do you think are the main drivers for gold right now? Because obviously central bank buying is a big one. That's one of the arguments people were always making for why silver was not performing earlier in the year is that well, central banks are buying gold, they're not buying silver. Obviously, that's a very big catalyst. the debt and deficits issue in the United States and around the world, debasement of fiat currency, geopolitical uncertainty. I mean, take your pick. How are you currently viewing the trajectory of the gold market? Well, here's what's really interesting and strangely enough, we need to invert your question. The real question shouldn't be who is investing in the metals. The real question should be who's not investing in the rare rare rare metals. Now I I am a giant fan of the daily sentiment indicator. If you had a hundred different ways to measure sentiment, it is the very best. Absolutely hands down. I called the bottom of gold in 2001. I called the bottom silver in November 2001. I topped I called it sell on gold in 2008. I called this top in silver 2011. So, I made a ve a lot of very good calls. I don't try to call every single move, but I've gotten a lot of things right. So, when silver hit an all-time high last week, I went to take a look at the daily sentiment and I was thinking it's going to be 90 92 something like that. it was 77. Okay, 77 is not enough to say we're going to have a correction. 77 is relatively neutral number. And the same thing was true of gold. Now, platinum and platium had a DSI of 88 and those suggest a correction coming soon, but as we speak, platinum's up $104 an ounce, which is remarkable. But the real key is the investing public is not in this market. When the investing public wakes up and says, "Gee, I need to buy some platinum or some silver or some gold, these these markets are going to explode higher." That's not a good thing. That will mark, okay, we're going to have a major correction, but the the I I don't know who's doing it. It's not ComX. It's not Chicago. It's not London. It's it's almost inevitably Shanghai, but it's also hedge funds who are now saying you need to keep 20% of your assets into metals. If we had a 3% or 4% investment from hedge funds in metals, the metals would be five to 10 times higher than what they are now. So the potential is extremely high. Uh this is not a good time to be investing. The good time to be investing was when silver was four bucks an ounce 25 years ago and gold was under 300. Uh I I have been hammering the table for the last 5 years saying that platinum's cheap, but yesterday it was cheap. Today it's expensive. >> Well, talk to us a little bit more about China's role in all of this. You mentioned the Shanghai gold exchange. Um obviously when it comes to the government as well as the citizens themselves, they view precious metals as money far more than we do in the West. How do you see China influencing the precious metals markets overall as we move into 2026? >> I I think they're making the market right now. I think they are the biggest influence. Now, there's some other things that we should mention. Have Have you interviewed anybody to talk about the Japanese carry trade lately? Uh yeah, there's I bring it up fairly regularly on the show when I talk to people. Just the current state of the Japanese bond market and what it could mean for the carry trade as well. >> Okay. Well, the the bond market in Japan is exploding higher. The yen was crashing. The Japanese had a choice. They could either save the yen or they could save the world's financial system. And they said screw the world's financial system. But the the yen carry trade, the best number I can come up with is $12 trillion. And the entire $12 trillion is in the process of being unwound today. Now, let me give you some numbers. The end carry trade, it's 12 trillion. It looks like it's all going to be unwound. There's no longer an economic basis for the yen carry trade because interest rates are too high. The cryptocurrencies got up to a high of $4 trillion and they've lost a trillion dollar in the last 6 weeks. They're down to about $3 trillion. Those those are big numbers. Those are a lot bigger numbers than uh 2008. So there's some very dangerous things happening now. I I just have this gut feel that Japan, which happens to be the biggest holder of US bonds and China coming in second. I think that they're unloading the bonds. I think long-term interest rates are going to go higher, perhaps much higher, and this could be the real deal for metals. Will it go curve linear when the public gets involved? Absolutely. I mean, when you start seeing platinum up 250 bucks a day and silver up $10 a day and gold up $500 today, you're going to be near the top. There will be a correction. Period. So, there'll be an opportunity at some point to actually take some money off the table and hold it for better times. But the public is not in this market. And when the public gets in the market, we're going to see moves like most people have never dreamed. But let's go back to size. I ask the smartest investor I know what the size of the resource junior market was. And he said, 'Well, companies under a billion dollar in net assets um is about $80 billion. And I said, well, I'm not interested in 500 or 600 or 800 million dollar companies. I'm interested in small companies. Juniors under$und00 million market cap is $14 billion. $14 billion is not even a rounding error compared cryptocurrencies or compared to the Japanese carry train. So, we are going to see explosive moves in the metal. We're seeing this right now. I did an interview on Friday. It said platinum is going to explode. I think and and I I could be wrong. I think this is the biggest move at platinum in one day in history. So that that was a good call, but the real explosion is going to be when the public decides they want to get into the junior mining stocks. The sponsor of today's episode is Arc Silver Gold Osmium. Owner Ian Everard is praised even by his competitors as one of the most honest and level-headed bullion dealers in the United States. They have some great prices. You can see some of them displayed right now on screen. Take advantage of these specials today by reaching out to Ian at 3072649441 or by email at ianarchcsggo.com. Make sure to tell him of course that Commodity Culture sent you. And now back to the interview. Yeah, that's a that's a great point. And the miners obviously an area that have also done extraordinarily well year to date. both gold and silver miners, the GDX and SIL ETFs up dramatically, vastly outperforming the broad market. And yet, when it comes to the mainstream press, they don't have a single thing to say. They're still arguing about why Nvidia and Open AI is the future. And there not not a word about this massive run in the miners. Um, so do you still think we're in early days when it comes to the mining space as well? >> Absolutely. When you see rodeium at 29,000 and when you see juniors up 20fold, uh that would be a time to take some money off the table. If you go back to 2008, it was perfect analogy. all of the metals topped and the juniors got absolutely creamed and and there were something like 100 or 200 companies on the TSXV in October of 2008 that were selling for less than the cash they had on hand. >> Wow. Now, when it comes to the mining sector, you're talking about that you're focused on the smaller companies. Is there still opportunities to be had in the developers, in the producers, even royalty streaming at this uh point? Because I've spoken to some people who say even the majors are quite undervalued at the moment considering the gold price and where they think it's headed. >> Well, considering the price of gold and silver, the the resource market in general, and that's from the biggest of the big to the smallest of small is the cheapest it's been in history. And you talk about big moves this year, the move should have been three or four times higher. Okay, so in relative terms, the gold mining stocks have not done this well. I mean, $4,400 gold. Give me a break. That's a lot of money. The first gold I ever bought, I paid 35 bucks. A hundred years ago, gold was $2067 an ounce. Now, how many things in 100 years have gone up 200fold? But gold has. So, uh the the juniors well actually the majors are going to have their day, but the juniors going to go up five to 10fold more. Well, I want to shift to discussing geopolitics for a moment because 2025 has been a major year and not for very good reasons in my view. We had Trump's first year of his second term as president. Um, one that I think started off at least with some hope, but turned out to be a total disaster. That's just my opinion. Maybe you have a different view. We add Israel and the US attack Iran in addition to continuing the genocide in Gaza. A growing trade war between the US and China. the EU leadership losing their collective minds and declaring their will to sacrifice anything, including their own people, which could be happening up ahead, for victory in Ukraine. The list goes on. What stands out most to you, and what would we be most what should we be most concerned about and focused on as we move into 2026? >> Well, we we need to define Trump as the peace president. >> Yes. I mean, he's he settled eight conflicts this year. Uh there is something absolutely repulsive about the United States taxpayers paying for the ordinance that Israel is using to massacre people in Gaza and the West Bank. And I I I think the Zionist and Zionism is not the same thing as Judaism is very important. They want to confuse issue and it's 60% of American Jews are against the the genocide and 84% of the Israeli Zionists are for massacre women and children. I saw a video, it'll be posted on my site tomorrow, of two IDF soldiers shooting a kid at point blank range who just walking down the street in the West Bank. And of course, it is part of the Jewish religion. It is there is a special prayer that they say at Yam Kapor that allows them to lie. So the very first thing the IDF said, "Oh, he was throwing rocks at us. He was carrying a big block." No, he wasn't. He was a kid walking down the street and they shot him from 15 ft away. That is cold bloodooded murder. Okay. some of the things we did like uh blowing up the first boat on September 2nd, okay, under the opaces that it was a drug boat. Uh I don't know how much you remember about that particular attack, but it was a boat that had four engines, which is a lot more than you need to travel 25 miles, which is what it was doing. And it had 11 people on board. So, if you got four engines on your boat, which would cost a lot of money, is there a pretty good chance that they were smuggling? >> I mean, I don't know anything about drug smuggling, but all all I know is that the administration has not presented any concrete evidence as to those boats smuggling drugs, which kind of tells me a lot. >> Yeah. But here's the deal. Ordinary people who have learned to ask the right question can learn things for themselves. There were four engines on the boat. Now that that's pretty unusual. Those engines are 50 or $60,000 a piece. You you would need two engines to have some redundancy for the trip that they were doing. Four engines. Yeah, there's a pretty good chance smuggling. But there were 11 people on board. If the average guy weighs 100 kilos, okay, which of a fat guy uh 100 kilos of cocaine, it's worth 2.5 million. So if you were smuggling, would you rather smuggle $2.5 million worth of cocaine or one fat guy? And the answer is you'd rather smuggle the cocaine. If there were 11 people on board that boat, they were not smuggling drugs. They were smuggling people. Very interesting. So you believe that they were actually human traffickers and so in that case that's that's a that's a bad term to use. Okay. Yes, they absolutely could have been human traffickers. However, with all this that's going on with the United States and Venezuela, if I was in Venezuela now, I'd be looking for a guy who's got 4 on its boat and say, "Hey, you know how how about I give you 10 grand to take me to Trinidad and Tobago >> 25 miles away." Okay. So it it's sort of human trafficking, but it's not human trafficking like Biden administration was doing through Mexico. >> U yeah, they were smuggling people. Could there have been drugs? Yeah, I suppose there could have been, but nobody smuggles drugs with 11 people on a boat. >> Yeah, that's a very good point. And we should dive into that a little deeper because Trump obviously continuing to threaten Venezuela with regime change and has built up US military assets in that region in region. In addition to seizing an oil tanker and as you mentioned murdering boatloads, that wasn't the only boat strike. There were several of Venezuelans claiming so-called drug smuggling. Um, is this just about oil in your view? Because Trump also recently made some comments that Venezuela stole a bunch of oil assets that I guess American companies had previously had there and that they're going to take the oil back. Um, it all seemed kind of vague. Is it about oil? Is it about displaying America's dominance to let the world know US hijgemony isn't going anywhere? Is there something else behind the scenes you think is going on? What are your thoughts? >> Epstein. >> Yeah. Okay. Dive into that for us. >> Okay. Well, here here's what's funny. Uh Donald Trump and Epstein were best buddies for at least 10 years, perhaps more than that. If Epstein was trafficking in underage women, and there's no question he absolutely was, there were hundreds of victims and there were hundreds of perpetrators. There isn't a single perpetrator who's been brought up on charges. Now, how difficult would it be to identify the people who are banging 15 and 16 year old kids? And the answer is not very difficult because Blondie came out and admitted they've got 10,000 hours of videotapes. But the key is and and Donald Trump has proved it over this weekend with the so-called release of the Epstein files. He He's just as dirty as he could be and it's going to bury his administration. So if you ever watch the movie Wag the Dog, the whole Venezuela operation is a Wag the Dog operation to take attention away from Donald Trump's very real, very tight connection to Epstein. Donald Trump is serial bankrupt. He is a serial rapist. He is a serial cheat. There's a video that's available at YouTube with Donald Trump talking to Epstein about young girls and Donald Trump comes out says 12y old girls are definitely too young. Now 13, that's okay. And that's one of those things like uh how do you know? Yeah, I I don't remember seeing any books or any videos or anything talking about 13y olds and sex. U Donald Trump is a pervert. It's obvious that he's a pervert. He's a child molester and he's covering up for it. Now, what drug is it that Donald Trump is trying to identify Venezuela with? Fentanyl is what he keeps saying. >> Okay. The DEA says there's no fentanyl coming out of Venezuela. Would there be coming coke coming out? Absolutely. Would there be marijuana coming out? Absolutely. Fentanyl comes from China. It's imported through Canada. It's imported through Mexico. It's imported through Honduras. It's not imported through Venezuela. Uh the whole concept of did they steal oil from American companies. Well, yeah. Kind of. Okay. They they brought American companies in and they invested billions of dollars, perhaps trillions of dollars in oil because it's the biggest oil reserve in the world. And Venezuela nationalized it. But I Iran nationalized oil in 1953 and we overthrew their democratically elected government. Okay. This this concept of who owns it is important and it's not something that's been settled. So does the oil belong to Venezuela or does it belong to the United States? Quite bluntly, most of the countries in the world are going to say that belongs to Venezuela, but would Donald Trump use it to cover up for his crimes with Jeffrey Epstein? And yeah, of course he would. >> Yeah, that's actually another angle that I'd thought of as well. And I'd like to continue that thread for a moment here because Trump also recently held an event to talk about how much he loves Israel and how much he's done for Israel. Uh noted Zionist Mark Levan, a radio show host, grabbed Trump. Trump looked a little uncomfortable. It almost looked like a situation of the master grabbing the servant um and then talked about how Trump was the first Jewish president. To which Trump replied, "That's true." which appears to confirm what I have previously suspected, which is that the US government is 100% controlled by Israel essentially. Maybe 100%'s an exaggeration, I don't know, but obviously their influence is absolutely insane. Would you agree with that? Does that also tie into the Epstein um the fact that many people believe he was a MSAD agent and working on behalf of Israel? So perhaps the amount of dirt that they have on Donald Trump forces him to essentially be in this sort of humiliating situation where you got this this scumbag Mark Leaven grabbing on to him and saying that's our Jewish president and he's got to say yes yes yes I am sir. What are your thoughts there? Well, absolutely. And and I will say the the only disagreement would be the percentage of Israel's control over the United States. It's not 100%. It's 110% or 115% or 120%, but it's not 100%. They control everything. Now then, who did Jeffrey Epstein work for? >> Many people believe MSAD. Many people believe potentially other intelligence agencies were involved as well. >> Okay. Whitney Webb has written a two two book series talking about uh the intelligence agencies using uh things like Epstein was using uh for purposes of blackmail. We we know that the head of the FBI blackmailed everybody in Washington DC and and when he died, okay, they had to rush and find them and burn them. But uh a MSA a former MSAD head has come out and admitted that Jeffrey Epstein absolutely worked for the MSAD. So if Blondie has 10,000 hours of incriminating tapes of men, rich and powerful men, uh, having sex with underage women, how many hours do you think the Assad's got? >> Yeah, that's a good point. >> They've got every single one of them. And would they blackmail Donald Trump? I I have seen a video that I believe is true that says Jeffrey Epstein is still alive. And in the video he said, "If Donald Trump doesn't do what we tell him to do, we'll kill him." at uh Israel has committed more assassinations in the last 50 years than every other country in the world combined. So, are they capable and willing to assassinate president of the United States? Well, hell yeah. They already did 1963. But uh we we're in a very dangerous position because I think the Zionists have stepped across the line. Clearly they always wanted to control the Middle East and now people are recognized that they controlled the United States for 30 or 40 years. They absolutely controlled Europe. They don't want to control the Middle East. They don't even want to control the Middle East and Europe. They don't even want to control the Middle East, Europe, and the United States. They want to control the whole flipping world. Okay? If your readers don't or your viewers don't believe that, they should go to Google and they should put in the largest funeral in Israel's history of this rabbi. And the rabbi said, "The only purpose of the is to be our servants." the whole world economic forum, the whole banking system. And I I think they intend to blow up the banking system. I see no way the banking system can survive as it exists today. And I not only see it, I see it happening very soon. Uh there's another book that's very interesting called The Great Taking and the laws are in place in the United States for seizing virtually all assets when the banks collapse. Now if you remember the World Economic Forum, the saying that they had that in 2030 you will owe nothing and you will own nothing and you will be happy. First of all, that's the definition of a slave. But I got a house here. Okay. Now, let's say I got a mortgage, which I don't have. And let's say the banks collapse. And let's say the bank comes in says, "Okay, now we own the house." All these assets that exist today, people think about, well, the banks are going to steal it from me, and they're afraid of that, and they should be afraid of that. But the key is somebody's got to own it. So if you own nothing and you owe nothing and you're a slave, all you got to do is figure out who you're in slavery to. And and I think that's so obvious today. If you think you support Israel and you support going on what's going on in Gaza and the West Bank, you're just going to love the IDF running your prison camp. Well, let's discuss quickly how the EU fits into all of this because there's been these off on again off-again peace negotiations where America comes in and says we're going to, you know, they drafted this 28 or 29 point peace plan. A lot of it Russia could not accept, but on Putin's side, they said, "Well, we might be able to work with it." Of course, the EU loses their collective minds. They have their own meetings. They come out and say, "Actually, here's our proposals." And they were all, it was just ridiculous nonsense that Russia would never accept in a million years. and they knew that. So, they're essentially saying, "We want the war to continue no matter what." They're now talking about conscription. Mertz is up there uh giving a speech talking about, "Well, we're going to try to voluntarily get people to join the military, but if we don't get enough people, we're going to have to consider mandatory conscription." Poland has talked about this, too. Several nations in the in the EU are now talking about mandatory conscription. What is going on here? Is the EU really willing to conscript their people and throw them into the meat grinder? Is this more of a threat hanging over everybody's heads to just exert more control? Is this distraction? Is this cover from the collapse of their own economies? Uh what what are your thoughts on the role the EU is playing in all this? >> Well, you just nailed it right there. Of course, this is to cover the collapse of their economies. Now, you talked about uh peace discussions. There have been no negotiations about peace. Zero. Okay. On December 17th of 2021, Putin came out and said, "Look, here's the deal. The illegal government in Ukraine has killed 16,000 people who are essentially Russians. The Nazis actually run the country and they want to join NATO and none of those are acceptable. Okay, Ukraine is not to join the EU or NATO. The Nazis got to stop murdering people in cold blood and you got to stop shelling women and children. He has not changed his demands a single sentence, a single period, a single word. What Putin wants, first of all, he's going to get and second of all, they're absolutely the written Iraq. Now, the EU comes out and says, "Well, hell, we want a ceasefire." Well, they did that with the mint agreement back in 2014. And during the ceasefire, they supplied Ukraine with ammunition to kill 16,000 Russians. And the Mids 2 agreement actually provided for selfdetermination for the breakaway republics. Now, what does that mean? That means that uh the breakaway republics had the right to vote and they could say we want to be part of the illegal government that was overthrown uh by the United States and the biggest coup d'etatah in history or we want independence or we want to be with Russia. There have actually been two votes and the votes were in the high 90% of the people in Dbass absolutely wanted nothing to do with the government in Ukraine. Uh do you know what the word Ukraine actually means in Russian? No, I don't. It means borderland. Okay. The concept of Ukraine as as a country going back 500 years is the borderlands, Ukraine. And it used to when I was a kid, we never talked about Ukraine. We talked about the Ukraine because it was the borderlands. Uh Putin wants protection from Europe. He demanded it. John F. Kennedy wanted the same thing in 1962. He wanted secure borders. He didn't want Soviet Union nuclear vessels 90 miles from Key West. That's perfectly reasonable. The strange thing is all the guys that are pro- Ukraine have never listened to Putin, never listened to Lavough, never read anything that these guys have written. The United States started the war in Ukraine. Now, Donald Trump absolutely could have ended the war with one phone call. Now then, what's the most corrupt country in Europe? I've heard that it's Ukraine. Okay. Uh, Zalinski had a bagman. Okay. He was the guy who who shuffled money around for Zalinski. And he was arrested and the police went into his bagman's office and look for papers, anything talking about corruption. They found $25 million in cash. Now, would that be a fairly good indication of corruption on the part of the Ukraine government? Actually, not. What really showed the level of corruption were the receipts for $2.6 billion in wire transfers. Now, these these people are so stupid and so arrogant, they left the wire transfer instructions in this guy's office. We know exactly who stole the money. We know who stole it from. We know where the banks are, but you don't hear that in the news. >> So, where is this all headed? Is the only way for this conflict to come to a close a Russian victory on the battlefield at this point? >> Yes. And it it's going to be sooner than anybody realize what Russia is doing. And this is a giant FU to the EU and NATO is they're going to seize Odessa and they've got troops there now and they cut the city in half. And once Ukraine no longer has access to the Black Sea, Ukraine's going to be a it's not going to be a third world country. It's going to be a fourth world country. But uh the the leaders in the EU with one or two exceptions are bunch of Chihuahua. Okay? They have the lowest ratings in in France, in the UK emerge. Okay. The the citizens in the U EU realize these people are blithering idiots. The military in the UK, 75,000 troops. I I've been to Girl Scout Jamberees where they had more than 75,000 people. Well, Bob, this has been a fantastic conversation as always. Uh, tell us about 321g gold.com and anywhere else you want to direct people, feel free. Well, uh, strangely enough, we started 321 gold 24 years ago because I looked at the state of gold, the state of silver. Gold was $262, now silver, it's $43. I I can't remember what platinum was. It wasn't actually cheap back then. It's probably 1,200 1,500 bucks. But I looked at it and I realized that if you took the percentage investment of the total investment pie that was in resources, it it was like a third of 1%. And the resource market had to increase substantially and the price of gold, silver had to increase. Now, would I have been smart enough to predict $69 silver? N that smart. Would I be smart enough to predict uh $4,400 gold? Nope. I'm not that smart. I I actually am afraid of these because it suggests $40 a gallon gasoline. It suggests hyperinflation and it suggests the collapse of the world's financial system. All of which has happened before in the past and easily could happen again. What we're trying to do is we're trying to educate people. Uh I I do 10 interviews a month. I don't make a penny off of the interview. There is nothing that it does for me. I'm trying to educate people and I've been right about a lot more stuff that I've been wrong on. And this is generational opportunity to one protect your assets and two make profit like people have never dreamed before. The debtbased system of the west that's been in place for 500 years is collapsing. China knows it, India knows it, Brazil knows it, Russia knows it, North Korea knows it, but of course the mainstream media in the west lies about everything. So, uh, Americans and Europeans are just stumbling around in the dark with no clue. and the worst leaders in in just modern history. It's incredible how stupid these people are. So, it's it's a very dangerous time and we're trying to educate people and that's my contribution. >> Great. Well, I'm going to put a link in the description below to 321old.com. Always appreciate your insights, Bob. Thank you so much for coming on the show, >> Jesse. Good questions and it's always fun. >> Thank you for joining us today. Our sponsor Arc Silver Goldium has some great prices on gold and silver bullion products. They are on your screen right now. Take advantage while supplies last. Subject to change. Reach out to owner Ian Everard today at 3072649441 or by email at ianarchsgo.com and make sure to tell him that commodity culture sent you. And pick up your stacks notfiat t-shirt today backed by a 100% quality guarantee. The link is in the description below and I'll see you guys in the next episode. Commodity Culture is a series on commodities and natural resources. If you would like to see more, be sure to subscribe and hit the bell notification so you're always up to date with the latest episodes.