China Draining SILVER From the West, Price Headed to '$300 and Beyond': Francis Hunt
Summary
Physical Silver: Guest argues China and the broader East are increasingly setting the real price of physical silver, evidenced by persistent price premiums and eastward bullion flows.
Gold: Long-term bullish view on gold despite likely near-term pullbacks, with technical patterns suggesting an eventual strong upside continuation.
Sovereign Debt Crisis: Detailed case for a brewing global debt crisis as yields rise across Japan, the U.S., and other Western nations, signaling a structural bond bear market.
Bond Bear Market: Forecasts “higher for longer” rates with U.S. yields potentially approaching ~6%, pressuring risk assets initially but ultimately favoring monetary metals.
Oil Prices: Oil portrayed as a policy lever driving stagflation; higher oil squeezes bonds and initially weighs on metals before reinforcing long-term precious metal strength.
Gold Miners: Mining equities have underperformed due to energy cost pressures and risk-off dynamics, though positioning remains underweight and may reverse as conditions normalize.
China: Emphasis on China’s bullion accumulation and pricing influence, plus Singapore’s forthcoming silver futures as part of an “eastward” migration in precious metals pricing.
Companies Mentioned: Agnico Eagle (AEM), Newmont (NEM), Hecla (HL), and Palantir (PLTR) were cited as context, though the focus remained on macro metals and debt themes.
Transcript
The price of physical silver is increasingly being set by China, not New York or London. My guest today, Francis Hunt, the market sniper, brings us his thesis on why Shanghai is the market to watch, along with breaking down why an epic sovereign debt crisis is brewing and when it does finally bubble to the surface, why it will send both gold and silver parabolic. then you're going to want to stick around to the end of the interview where Francis explains the digital control grid coming for humanity and how you can protect yourself. So, let's dive into it. Francis Hunt, great to have you back on Commodity Culture. I want to kick things off today with the silver market because last time I had you on the show, you pointed out that increasingly it was the Chinese market that was setting the real price of silver as opposed to London and New York. How has that situation developed since the last time we spoke and what is your overall outlook for silver in 2026? >> Yes. So, two questions in there. Uh the first part, let's deal with that first. Um that's ongoing and it's not opinion piece on my behalf. That's uh essentially what we're seeing out of um news flows. It's public domain knowledge if you care enough to watch. Uh, in fact, I've got a couple of uh super quick, you know, if you just if you're just on X and you're in inquisitive enough, you can go do the search and you will see uh China silver imports. Let's just run the headline super quick for you. You know, uh, China is paying $8343 for silver right now and the West is selling it. Well, I say selling it. The casino price is 7566. Uh, good luck if you want to try to get that price in ordering an ounce yourself. Um, you won't get anywhere close to that. Same metal. You're almost $7.77. Lots of sevens in that one. Uh, that gap has existed for 7 months. So, quite clearly there is a migration. When you have a disperate pricing, yes, there's some frictional costs that don't make for a perfect arbitrage. Um, but quite clearly there's a migration. Demand sets price. uh the demand is higher in the place that is looking for monetary metals and also one of the most instrumental key industrial metals in the green agenda the solar panels and everything else in a time where we're having an AI boom that suddenly climate change doesn't matter we just need energy to fund data centers so you know uh a bit like how Putin killed the climate change thing when he invaded uh Ukraine uh he he killed the CV 19 uh tale of 2022. It seems like uh the AI data centers has killed the climate change for now until they need it back again. But that's what's happening in China. The other thing is uh a couple of other comments. All these are people I uh follow and that are reliable. The UK imported 601 tons of silver from the US in March. But let me just stop those in the United Kingdom getting too excited and immediately exported all of it near all of it to China and India. So China is draining the COMX via the LBMA. That's another uh uh uh key point. Also more interestingly is uh Singapore is going to launch a futures uh contract on silver. I've often said that Singapore is the acceptable face of uh eastern um the rise of the east uh in terms of their role in the global economy and with that uh that key post I would say you know you're looking at them becoming far more significant uh in terms of uh pricing so you're going to have a lot more pricing going on combination of Singapore Hong Kong Beijing you got a much more in terms of flows in terms of the price that is being offered to have it landed in there. You've got a lot of silver that's leaving London and the US and that is going into India and China. So that is the migration east of real sound money. So I think we've dealt hopefully with both parts of your question there. >> Yeah, absolutely. Now silver's obviously been on a very roller coaster ride when it comes to the price action. We saw it rise of course to new all-time highs in January this year getting well into the triple digits. I think it closed at around $116 on on its strongest day. Following that, it fell 26% in a single trading day. And uh we we've kind of made a bit of a comeback and been consolidating largely consolidating sideways since there silver also taking a hit in the aftermath of the start of the war in Iran. I I know price predictions are a mug's game, but do you think we get back to that triple digit number and perhaps even all-time highs this year? Yeah, another good question that many people will be sitting on and quite a few people have felt u a little disappointed in Silva's recent performance forgetting that the break began really at the $25 uh mark uh and didn't stop running and actually went all the way to uh 121 I believe it was up top here. Uh so I put some lights on and you'll get the the measure. This is on a weekly chart. This is the silver chart uh on a weekly uh and you went as high as 121 um in that period 12164. You then had that 64 crash you referenced 96 rally back down to 61 a marginally lower low. Um so we have in terms of our technical analysis I'm going up to quite a big time frame here. There's a couple of drawings and annotations on this. Uh and I'll just I'll just stretch this out so that everybody can see the key bit. our overall take remember and and I think I did this with you that have to people would have to look at previous uh watches when we look at the quarterly chart this is a weekly chart quarterly means three months every candle is three months we explained to you that you have a target for 3333 range and beyond in the cash price we also mentioned that the second inim level is going to be kicking in from the late 90s to about 105 and that's typically when you get a pause that's on HVF method on the big HV VF draw that gave us that 333. We never called that the top. We said we probably go single digit and we've even got point and figure targets because we don't have a pattern big enough for in between 333 and going singledigit gold silver ratio. But uh so this p pullback is expected uh and was due and people forget that this is a quarterly chart on the macro setup that we had uh and you're in a gestation period. Overall the structure for us has looked and is consistently represented what we describe as a falling wedge. That is a technical structure that is normally associated with upside continuation. when you come up into it like that. We talk about a splitter, which is a line that breaks it in three. And we talk about the rule of three, three key selloffs. In other words, we talk about three impulses in a falling wedge like this. And what's actually happened is we just had a massive rejection. So, I'm just going to take those last two lines away to bring you into the future. Adam, uh, what looked like a breakout, we took it and we we cut and run thankfully. and uh was able to leave with some profits because we're expecting the possibility you could break out from this. But when you look on the weekly chart, this still this rejection that it turned out to be in the end. And what happened for that rejection? Well, an increase in hostilities, a possibility of an attack, you know, the the complete theater that goes on there and the cacocracy of moving markets by statement. Um so if oil price goes up at the moment even though they're both commodities priced in dollars if oil goes up it means rates higher on bonds and please we must talk about bonds US guilds particularly but uh long end midend and short end across the world um so I'll just drop that thread separate to follow up yields go up and bonds collapse and that causes a massive problem but it took the foot off the whole muse came in when the silver squeeze uh was getting in too intense. Suddenly we had the contrived event which is actually a supply chain an agreed crossnation supply chain throttling that brings stagflation and even a more extreme version of that because that's how they impoverish you and enrich the billionaire class. So drill down anywhere you like um on that later. But what we got was uh we put a brakes on gold and silver's run and we now push the commodity of oil up uh and now that pushes bond rates up and that of course while it looks like some people were claiming 5D chess on Trump's behalf, what it's actually done is made funding uh and refinancing debt a whole bunch more uh expensive in the US the US and the focus is moving ever more harshly onto the debt markets. So if the debt market starts uh to collapse um you will see a rush back into metals as the final reserve asset. Uh so in the long end you might postpone but you don't cease the eventual ascent of the silver and gold markets. Technically this was a big rejection candle and we leave the possibility open that you could go lower first before you eventually get the falling wedge break. That would be a demand destroying event. we mentioned may sell in May and go away. One key trend which is negative for equities, negative for risks, any form of risk which could see bonds again come into trouble. The higher the rates go, it leans a bit initially on the metals markets. They don't pay a yield in due course uh in traditional terms, but in the long term they preserve value. Uh and of course the higher yields crash stock market, it causes liquidation and people sell their best collateral to support their losing positions. sadly. So you get an initial sell off in the metals. The longer run effect is metals will go higher. So we are waiting a third possible selloff here for which this was a rather ugly rejection candle here that didn't follow through on the breakout of the falling wedge. How low does it go? It could bounce on our splitter and be mediumsized. If we have a big demand destroying event and a lot of stress, you could come right down to the lower level. But overall the the the medium macro move is uh medium long-term is a break to the upside uh for this and once we've done with that second intrum a very brisk open territory move to the 333s where we will pause again much like our second intrum only even possibly a bit longer during that period. So let me hand back to you because there was quite a lot in that. 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 ianarchsg.com. Make sure to tell them of course that commodity culture sent you. And now back to the interview. We definitely have to follow up on the potential sovereign debt crisis that is brewing because we've seen yields rise across the board. I mean, Japan is particularly alarming. It looks like the Bank of Japan lost their yield curve control. I think back in 2021, maybe early 2022 is when those bonds started to break out. now at completely alarming levels. Historically, we're also seeing um US government debt. I believe the 30-year and the 20-year are now above 5% which many analysts are pointing to as a danger zone. Um maybe unpack for us a little bit more the potential implications of these rising bond yields across the board. Now, interestingly, China, one of the few countries whose bond yields are actually going down right now, um which is something maybe you could comment on as well. So debt and people's ability to back their debt is what's coming into um uh focus right now. And I will mention this I don't sound to be a grandizing we get a lot wrong but we were the only people covering uh Japanese debt. So bonds isn't the most exciting topic for many people and Japanese when you're living in the US or the west or speak English language means some place far away's debt markets. So they were our lowest viewed videos and I kept smashing them out and that was in 2021 and the structure we we pulled up that we were showing is as per our call in 2020 on the US debt markets that it had turned and that this was the most seinal by implication call that we've ever made. It's now debt market going net down in value and yields going higher after a 40-year period. That was such a controversial thing to call a turn. Uh Ral Pal, many others were all talking about buy bonds where diamonds, many other traders because it just kept getting bought up. Everybody used the bond market as um their escape haven when there was uncertainty in equities and everything else. It was a very controversial opinion at the time. Now we've got a a swave of Japanese Bank of Japan, Japanese duration watchers, uh, that are all wanting to get in front of the narrative and talking about, wow, this one's done this. I will show you when that Bank of Japan, uh, curve really started to go wrong and when we called for a ridiculous number and it was sub uh, one at the time. If I get a 40-year up and I bring up a monthly chart and I'll show you uh, that particular structure right now. Um, here we go. Let's share the chart. And this was some time ago. And it was an insane number that we gave at the time. And it looked like this. And I'll draw it for you again. Um, and this was following the US call because we saw if the category of debt is to come under, if America was coming under stress on its debt markets, the overall category of debt surely couldn't be too far behind in our opinion. So, we became avid watchers of the Japanese rates. Now, this is on a log scale and it's kind of confusing and distorting, but we did this draw and we did did this video as that triggered and we done the the draw before that and you are at 0.70.7%. And we came out and said this is going to 6.874. Think what happens when that occurs. By the way, your blowout through there, the degree of devaluation in that debt is absolutely immense. And just so that I can show the fullness of the nature of that call, that was the size of the move needed. When you dlog it, many people will realize if you're just looking at this geometrically, we said then at 7 0.79, that was the triggering event for going to 6.874. And I will point out to you it has already done twothirds of that move since that call. Uh and that was in and around the triggering event was just as we were turning 2022. So it followed we were August September 2020 that we called the turn in the American market. Uh and very shortly after that I say shortly uh the end of 21 Jan 22 we got our triggering event on the Japanese. and you're twothirds of the way now making a ridiculous number as a logarithmic uh projection to the upside on rates. So this is debt based collapse. Now that kills the yen carry trade. So think about all that's going to go on. I'll put it back on log scale just for the proportion now. But that that was an unbelievable call for rates being below one that many people thought we were a bit loony and it was possibly why we got low view numbers on that those YouTubes. But it is absolutely happening and now everybody is a Japanese yen. What this means is we've got a globalized debt base collapse because once uh people are not uh enjoying the American debt, they look at the other debts and they say well they're not all much better particularly in the west. Um and this is the key part. If I go back down to a weekly time frame, I'll show you what's happened on the 10ear in the states. Now we've always said amidst many people getting very bullish, oh pristine collateral, you know, the likes of many influencers on YouTube were making comments, demand for the the, you know, the treasuries, all those people talking America down, you know, treating us as if we were just negging and the haters uh on the the the nation on account of the state of the debt market was a very very uh poor take and many people were doing that. I don't know if they're funded to have those opinion, but this always looked like upside continuation for us and it points to a 5.966. Coming into this year in November of last year, while still in Panama with my Panama background, we said 6 by six. Six core western nations to go to the 5.75 to 6% range during this year of 2026. give me six extra months uh for my prediction so that we'll take it into halfway into the following year. So I asked for an 18-month time frame to deliver many nations through to 6%. This has just triggered it to an upside and has just run the 4.635 after being as low as 3.9 in March. So you're going from 3.9 to 4.6 in a couple of months. So July 2027, could you be through this or in the 5.75 range? Possibly. I might run a little bit out of time, but that's going to happen. Many people will say, "But that's impossible. No one will be able to afford." Well, it's debasement of debt. It's a fiat and debt debasement cycle. This is the great debasement error. And you've got to own high value physical assets, particularly monetary assets, which will do especially well. A lot of people will come with me with copper and you know um for example the uranium for nuclear they're going to do okay but divide by gold and generally they're going to underperform gold. Uh very few things outperform gold outperform gold and I'm going to say you know outside of the white metals of silver and platinum and gold itself you're going to struggle to beat it uh when you divide by gold ounces. In short, there is no more real reliable fiatbased unit of account. I'm looking at charts in Swiss Frank and I'm looking at charts in gold ounces. That's uh where I'm looking and the Swiss Frank will have to continue to cut rates and debase with the rest even though it'll probably be the least bad fiat. So let me hand back to you on rates and how badly my view of higher for longer is coming true in front of everybody's eyes and our 6x6 prediction. Um if we miss it, it'll more be a function of chime than uh not happening at all. >> Yeah, some great thoughts there. Uh I want to switch over to the gold market now and discuss some pretty shocking news coming out of India which of course is Prime Minister Modi going on TV and imploring his citizens to stop buying gold for a year. What is behind this? I mean this guy's talking about protecting the Indian economy. Meanwhile, he's gallivanting around the world going to visit all these different politicians in different countries and posting about oh wow look at the Indian culture in whatever Norway or Italy or whatever. I mean guys, these politicians are all just parasites. Let's make that clear. Um, what what is the deal here? Because Modi of course has said, "For the next year, I would like you to stop buying gold." And we all know how governments work that well, what's the quote? There's nothing so so permanent as a temporary government program. I mean, moving forward, do you think they could move to eventually ban citizens from buying gold or establish some sort of quota system where you're only allowed to buy so much gold per year? And ultimately what do you think is is behind uh this proclamation? >> So inherently politicians we we always apply the law of inversion perversion by the way the hunts law of inversion perversion. That means do the exact opposite of what they're telling you. So if he says don't buy gold um it means uh we're going to have a currency crisis on the Indian rupee. Buy gold. Um sell your rupees buy gold. Um and by the way that's happened before in 1967 with a Gandhi uh and they said the exact same statement. So this is a repetition of cycle. In 1967 Gandhi came out uh and in fact I can find that tweet uh I will narrate it to you anyway but it's worth people once again seeing this is historical uh facts not uh something I'm conjuring. Um he they said in ' 67 to protect our foreign uh reserves uh because you know we don't export enough they import all their silver and gold most of it they don't they aren't big miners and they import their energy so they have a lot of base uh needs that require uh imports that put immense pressure on the rupee and as you see the rupee devaluing which it is which I will show you a chart for in a second. Um, of course, the people do what they naturally do, the smart ones at least, and they set out to preserve their buying power. Uh, and that often involves uh bringing gold into play. So, let's just have a look at that. That was Modi. Reduce your fuel consumption as well because that the more energy they consume, the more they have to import. Don't buy gold. Uh, work from home. Uh, appeal of people that is a reserves crisis. They lack foreign uh so all fiats are flawed but some are even more compromised. For example, China runs trade surpluses with most nations. That means you you reference Chinese debt and why the interest rates are low. Well, that a property crisis, but also they good for backing it. They are net stacking bullion at an epic rate. People don't fear complete confiscation and loss of money in the Chinese bond market. They also had a property crash that there's other reasons. They haven't been perfect. Um there is no perfection anywhere in the world of fiats and debt. But uh that's why they can afford lower rates. I was shocked to hear some experts saying, "Yeah, they're in a depression and the US economy is great because we had 4.5%." No, it's the pricing mechanism for likely default and debasement that is in place and the US has to price a lot cheaper and offer a lot higher yield on account of its excessive position in that market. So again the the west is losing on that front and India is not as in as strong of position as other bricks nations like China uh in terms of this. The rupee is under pressure. So I mentioned let's have a look at it. Let's first deal with the gold uh question as well and just show you what I I fear is still to happen. I mentioned three waves of selling. For me the the the continuation pattern here could be in the category of what we' describe as a channel uh bull flag. Uh you had a big sell wick here on a this is again a weekly chart of gold by the way. You had a big sell there where you went from almost 56 down to 44. That's the better part of $1,200. That's quite some correction. And then you had the 54, a little bit lower, going to a new low at $498. And then you've rallied moderately, but without too much enthusiasm. You're in the channel, and now you're grinding along the channel, and you had a bit of a rejection here. So, there could still be a third sell-off. We talk about the three waves of selling before you break. You could come down here and break eventually. Uh or you could come down a bit deeper if we had a really shocker demand destroying event such as the NASDAQ and the AI boom crashing which I think there's real motives. You've got Michael Bur with a billion dollars short most of it on Palantia. Um you've got Warren Buffett that's been a net seller and his uh successor a net seller of stocks for better part of five years and the accumulation of cash. So that there would be effects to precious metals of uh very steep demand destroying event by the way and it is also the perfect environment for them to bring in their CBDC's. I know you have a question at the end on that so I'll leave that there. But so for me generally it gold looks a little bit precarious like it could go downside. You could have an instance where we have a a sudden reblow up of the Iranian story. It's kind of useful. It's like the Ukraine Russia war which is sort of dying out as a a theme of you know you get you get fatigue to certain news items. So they've created a new event that they can suddenly reheat and you can have a surge in oil that can cause a surge in the bonds push the devaluation which they need and is also the stagflation that enriches the billionaire class that own excessive assets whilst debasing the debt they've borrowed to get on those assets. So the top side goes up the valuation in lie of the monkey money devaluation that holds some value and the debt gets debased. So the very heavily borrowed uh with beneficial terms to corporate banks, the billionaire class gets excessively rich. It's tipping the casino table and all the chips end up at the other side. The middle classes, the blue collar, the working classes, the working poor, you name it. They all have cost of living increases and become ward of state under a UBI new CBDC system. So it's the perfect economic policy by manufacturing the horm. They put they put supply chain pressure. Oil is uh as I've said before, it is a financial weapon of economic destruction masquerading as a basic com uh commodity in a military uniform. Uh you have a bit of war, you push it up. The oil majors that are all largely owned by the legacy families, they make a lot of money. They can claim higher insurance on shipping and all of these things. Most big billionaires are in that space. There's very few of us that are rats and mice that have meaningful skin in that game. They they build their income at the cost of everyone else inflation on the world. Uh particularly the west, particularly Europe at the moment. So that's gold, a possibility of more downside before we reassert to the upside. So we're going to have a demand destroying event that will probably go first inflation and then bring about chronic deflation uh to a degree. Um, let me know if I've answered your question because there was a couple of legs to it. That's what I see happening in the gold market. Let me hand back and you can reask. >> No, you you definitely uh touched on all the points that I I I wanted to hear from you about. Now, I do want to turn to gold and silver mining stocks because they've been barely outperforming the metals themselves. And as some of the big producers in the gold sector, your Agneo Eagles, your Numonts are reporting record earnings, their stocks are falling in response. What do you think is causing that disconnect and do you expect that trend to reverse at some point? >> 100%. Allow me one last second on the previous question just before I deal with miners. I promised you the Indian rupee and I didn't deliver it. Uh let's just give you the 43 uh rupees to a dollar back in 11. uh that is now 96 and going parabolic that was also part of the story. I had a feeling I'd forgotten something. So to miners um why miners underperforming? Well uh we can go to specific charts in a moment if you like but the key thing is there's a double hit effect on mining that doesn't exist in the metals to a degree. If the possibly at the moment it it does have a little bit of an effect on the metals but if you push the oil price up you are inevitably uh putting more pressure on the miners that are quite big consumers of the energy. Um typically that's not normally an associated issue with the metal itself. If you have gold and oil is going up it's often um a debasement of dollar. It's a commodity bull trend. We do currently have that adversorial element. If you'll allow me, why do we have that adversorial element uh at the moment? I think it's a question you haven't asked that probably warrants an opinion anyway. Um that oil go up, metals go down, but typically they were both part of a commodity complex. We highlighted that gold and silver about two years ago is going to chronically outperform oil as a commodity and that you should be in the monetary metals and that then went and transpired. it was then getting out of hand on the ratio and you hadn't had any meaningful pullbacks. We showed the inverted head and shoulders and all of that. So we prioritized metals before oil. What hormuz has done is it's taken some of the sting back on that relative valuation down and pushed it into the inflation which is oil the military uh the military dressed commodity that is actually a financial weapon of mass destruction as I describe it. uh it's pushed that forward to push the inflation which in the long run will come back into gold and silver but first causes bond hikes higher yields pressure on gold and silver um and many people like why is that happening why we've got that inverse correlation at the moment my one of my theories is the brick nations that have been massive importers I don't think this has affected China so much because actually the trade surplus that they have with America was off record highs mainly because of imported gold in the products, not in the services. So you have goods and services in the goods area. It was primarily gold, the single biggest line item for 5 months in a row that hit records that was leaving America and going to China. Some of it via Switzerland and UK as you've seen the LBMA clearing and some of it direct and Hong Kong. Some of it's also leaving from UAE Dubai also to China. So, and I can tell you dark gold or blood gold that's the subsistence mining um with kids and quite uh you know dastardly conditions in Zimbabwe and other places is all going via Dubai into uh Hong Kong and Beijing and some of it even through Singapore potentially. But anyway that so they have the reason some of the edge came off is other nations like South Korea uh maybe Japan to certain degrees didn't have as big a reserve of oil uh to continue to produce. So that became a higher urgency priority. So they become forced buyers at the higher price because they have insufficient energy for their production. So they are not energy self-sufficient. They are importers and they are very reliant on the ability to produce Toyotas and Sony's and Panasonics etc. They need energy. So that got them ceasing um to buy uh precious metals. Those that might have been I'm not putting any particular nations to this. I'm just saying those that ran surpluses with America could have been net accumulating instead of treasuries uh gold and now they have to swap it for oil. So that's removed a large institutional and uh nation and central banker potential uh purchasing reduced it somewhat and uh redirected those surpluses to ensuring energy once everybody's got full uh reserves of energy and they've had plenty of warning now to be stocking and stacking stocking and stacking um oil and other things like uranium if they have nuclear power plants and solar panels etc etc. We can run the gambit. What I suspect is that money starts to come back into the metals and this is a discount window and China thankfully seem to be very well prepared. They're not they're not forever prepared on oil but they have a lot of other energy alternatives. They've continued with their stacking and they treated this as a discount window. So there's that tiny bit of substitution. Once the urgencyy's gone out of that, I expect the relationship to reassert in favor of the monetary metals over oil specifically. Uranium is a is a different one and I'm slightly more bullish, but I still see gold and silver outperforming it. Uh but it's one of the better of the energies. So, uh that's one part of what you were weren't asking. The other part was the miners. Uh and it and it is a fact that the miners I think have underperformed the the metals generally um in so far but they did have a little bit of a surge moment where they outperformed. Some of them pulled back quite badly and some of them less so. Uh I mean silver had a what 1.47.5% correction. There's certain miners that were less than that. Uh and there's others like Heckler that kind of pulled back at least as much. So if you have a specific minor, we got a bit of a mixed bag on the performance and I think people are underweight miners. The only reason I prioritize the metals is uh unless you're getting certificates, you've got great taking and counterparty risk. So uh my preference is uh possession is 9/10 of the law. >> Yeah, I like that. Now we we've talked often in the past about the digital prison being implemented by the political elite. You mentioned CBDC's earlier. Um, we've seen people being jailed for speech in Germany, the UK, and Canada is the latest country to try and implement hate speech laws along with mass surveillance laws, which I fully expect will pass. I think there's very few places in the world where the citizens are as asleep as in Canada. In your view, who are the real people behind the politicians pulling the strings? What is their ultimate agenda? And how can we protect ourselves from becoming their prey? So they've got a perfect they've got a perfect I want to call hux or or attack and counterattack uh strategy on how they're coming to you. One they do they essentially doing this outrage uh imprisonment which should create um civilian unrest. So they want civilian unrest so that they have the excuse to clamp down on you at bringing martial laws. Uh call you a racist, call you a you know uh you said something ugly on Twitter, hurty words, something to that extent. So they want you to be outed and then named and go in the database. So they create these outrage uh arrests and they let it be known and well publicized. They pass all these overly draconian totalitarian bolev communist styled laws. This is starsy territory and we've continued to say this is a communism that's being uploaded. So the whole Rockefeller lockstep agenda for 2030 is totalitarianism. This is and that's that's a fancy way of saying uh Bolevik communism as per during Bocheism in Russia only you have technological social media and a lot of things that never existed then and the farmers were slaughtered they lost their land they were called the bourgeoisi uh and all sorts of things they even slaughtered a dog a particular kind of dog that was very similar to an Afghan that was a Russian dog that the middle classes really loved and was popular. They literally stamped out right through uh and I'll I'll get the name for you next time. Maybe a very alert YouTuber can put it down there. Uh but it's almost out of existence as a as a Russian hound and it's a shocker. Um but that is what's coming. So I'm quite doomer. I'm not going to couch my message here. The key thing is what do you do? The the perfect uh flanking move that they do is one you react and you do something. You go on the list. You be the guy who stands in front of the tank in Beijing Square. You get chewed up by the system. Your dosile friends all learn it doesn't pay to resist. So you're actually getting the coward reflex provoked by everybody. So you either eat it, which most people are doing. They'll huff and they'll puff and they'll moan and scream and stamp their feet with mates uh over a beer in the pub and a tea at the tea room and a coffee at the downtown um schmuck bucks nail varnish sales. uh uh joints, but they're not actually really uh going to react. So, you become a primal screen uh in fact, social media is a primal screen therapy room where everybody who's angry can go vent. Uh and you know, we all have done that. But now they're even going to manage your venting. So, the point is that by controlling what you say, it retrospectively controls what you're allowed to think. It's an upstream integration into controlling you into complete surf. You don't even think to challenge power anymore. You become ultimate subservient. So one, you react, you get punished. Two, you don't react and you are you are coward complying with the totalitarian upload. They've got you either way. And I I've the reason I say people should leave the West is that it's not that there's Narnia outside of the West and that some of these things don't apply in the West. it's that it's going to be at its harshest in the white European nations of Europe, Australia, Canada, the United States, and the United Kingdom. And the the point is it's better to be, I suppose, zone four of the epicenter of an earthquake than zone zero. You know, right where it hits. Um, that doesn't mean I'm going to have a great time sitting in Georgia, South Africa, Panama, and any of the other imperfect nations that many people hearing those names will tell you. There's all of this wrong with that. Georgia's too close to Russia. Panama, you're a gringo. You know, I've heard them all. South Africa, you're a minority. D, it's crime. All of that stuff. But staying where you are in the United uh kingdom where that is going on or in Germany where there is active control demolitions being pursued aggressively of the economy and the social engineering by turning police into weapon of state against the indigenous people. That is irreversible and it's the most aggressive cancer. take take a lesser illness somewhere else. And it's not about uh where's the perfect place. People don't act because they don't have the perfect place. Sometimes you just have to leave. It's a beginning of the divorce. You have to divorce. It's not who's going to be my next wife or who's going to pick up my clothes. You can hire a maid. You can take your time about finding your next wife. just get temporarily out and get your severing of ties to the primary big slave master in those nations that is pursuing their agendas. And other people say, "No, you get the macho, which is what I call the cope, the inertia cope. No, I will fight till the damn lost. They can take my gun out of my grim cold dead hands." You get the sort of Kuster's last stand uh speech. And this is a very frustrating one because you aren't fighting now. Where's your community? Where's your small island uh in the UK isles? Where's your small county where you've all organized? You've kept your farmer in business. You're not having him put anything in the meat. You've had him opt out. You're not facing any legal challenge from Bill Gates and all the attack vectors that he signed. None of these people are actually doing that. At some point, they say they'll get angry enough to fight. No, no one's going to fight for you and you are already shown you're not going to fight that you've let them get this far without fighting. So don't tell me you're going to get out of fight. That's like Lazy Joe uh who's still in bed and says one day you'll get up and you'll get a job. Nobody's getting a job. Nobody's going to fight. You should be fighting already. Uh not screaming on social media. That's not fighting. Organized communities, setups, training your police, you serve us, all sorts of things. Otherwise, they get moved out. And let me tell you, if you try to do some of those things, watch how the system clamps down on you. Unfortunately, they control the media, they control the police, they control the legal systems, they control uh what you're allowed to do. They've written laws that makes your self-reliance almost untenable in your own country, even if you provide it all for yourself. >> And they can also freeze your bank accounts, right? I mean, they they have control over the financial system, too. >> Correct. Correct. and they're passing all the bills. And yes, that's also going to happen in other countries. If you're in Bali or Thailand or Panama, I'm not telling you you're going to escape all of that. There is no escape. It is a new world order. You've been in a new world order for an extended period and they are advancing their agenda and you never fought. And the people that supposedly fought that you thought you're going to okay, I'll vote differently. Good luck with that. People told you that when they put Trump in his advanced palunteer more than anybody has ever seen. They're in the National Health Service of the United Kingdom. They've got access to all the major databases in every aspect of your life in America. They are getting the doors burst open. There's a new vampire in the room. He's been given all the pints of blood and it's yours. And he's slurping it up. This is you. You know, you've got to see what's coming. And it's not. There's no way to polish this turd. I'm afraid it's it's it's pretty it's pretty um it's pretty intense. But guess what? It's a beautiful life. You've got days and weeks and months and potentially years left to enjoy it. And you should forget the big macro and get organized locally and get out of the most draconian countries and get with community members that recognize this because it's going to be on the ground that you survive. And you can go get yourself milk like I'm getting delivered to my door completely unpasteurized. Uh you can go get all these things local farmers keep them in business directly. Cut out the supermarket chains. There's so much you can do. We could have a whole separate chat on this. Um and in terms of arming up and getting to know your local police station, letting them hear what remmits are being passed down. uh they are in Ukraine bringing in Indians now into the recruitment that are more dispassionate about grabbing Ukrainian males because they've got most of them off. The only ones that haven't been captured are ones that have paid money and bribes to the existing police or you know and have really hid very well. They're now bringing Indian recruitment officers to snatch people off the ground for all those people that have been left alone. uh and haven't yet been bought. They've run out of Slavic males to slaughter in the meat machine and that's can be coming in many of these western nations too. Um and it's to get over the psychological stuff. So it's dark out there but it's a beautiful life too. You were chosen for these times. You've got to play your part. Be active or be the guy that says one day if it ever comes to my door I'll fight. And you're going to sit on your backside till then without ever thinking how you'll do it. what mechanism and how you gonna fight on your own when a police has a warrant and an order and you're in lie of it. What you going to do? You know, you're going to fire on policemen and then they're going to do the siege of Waco on your house and flatten it. Congratulations. Uh you left it too late. You did too little. They have the law on their side. You're a criminal. You'll be buried as an extreme right fanaticist that resisted the speech laws of the day. Uh and that's it. uh you need to act or that's your sticky end if you suddenly wake up and fight or you will comply all your way into the goolag and you know that's that's that's where we are. So, it's kind of stark, but there's wealth that can be built during this event. And you might say, what will you do with wealth? Sadly, if you have resources, you buy yourself more freedom. And that's the focus of our YouTube channel. You can build wealth excessively during these times. Amazingly, it's a speculator society. I never asked that asked for this. This is the society I was born into. So, I realized that's the game I have to play. I would love a nurse to be paid way more for what she does out of vocation care. I would love uh good, honest, hardworking people to be paid way more. I would love farmers to be less abused. This isn't my society. It's not my circus. It's not my monkeys, but it's the one I've been born in, and I'm got to play the the game in terms of the cards I was dealt. This is going to have huge market volatility and swings events. We've already spoken about being short debt. The TLT just fell out to the downside. There's wealth that's being built. We've advanced more millionaires in our community in the first uh three months of this year and the tail end of last year particularly and the whole year as a whole than any other known community. Uh in our one broker we've gone to being 20% of their database of assets under management because our our particular members went made 80 times more money than everyone else trading HVF method. Those people have spare money now to invest in structures much like the weapons they use against you. Forum foundations, trusts, residencies, capital gainfree certifications, all sorts of other things, many of which we have done ourselves first before you and we help you with. So here's the thing. You can build wealth during this time. You can't change this world. You're not playing at that table. This is where they taking it. Recognize your level in this game. It's not at the top. But you can build immense amount of wealth. You can utilize that wealth to build a multi-pronged multi-jurisdictional footprint. That doesn't mean you can't go back to the states and visit your friends. They'll all be a lot poorer than you sadly. And I don't celebrate that because they've stayed. They got hammered by the dollar. They didn't have enough precious metals. It got confiscated because they didn't turn it into jewelry or furniture or something else. It's called hoarding and bullion hoarding. and they wrote a law to strip it off you, you know, all of that's coming. Um, so be smart, take action, you can be wealthier, you can be better protected. There is no 100% solution. Um, and you can buy yourself certain freedoms by having a multi-jurisdictional take in a world where there is still some arbitrage although the agenda is broadly universal. And that's the key message. That's what we look to do in the market sniper to help people achieve that. Uh, and anyone can come and sub and have a little look at some of our videos on how we do. >> Well, what I always tell people when it comes to uh, you know, diversifying geographically, just get one, focus on getting one other resident permit outside of your country of citizenship. And there's some countries where you don't even need to spend much time in terms of boots on the ground. There's countries that if you purchase a property, they'll give you permanent residence. Just try to branch out and then you at least have two different political jurisdictions in two different locations. Your home country in which you have citizenship and another country in which you have residency. And now you can have two different bank accounts. You can have different brokerage accounts across these jurisdictions. Just start in in that way or make that your first goal and then you can potentially branch out as you've done into a more multi-jurisdictional approach. Well, Francis, tell us about the market sniper. Where can people find it and and what is it you do there? >> There's a beautiful life to be had in spite of the times and you should look to retain as much of your rights which will soon become privileges uh as possible by virtue of doing those three steps I mentioned. Build wealth, protect that wealth, become multi- uh jurisdictional. And if you feel that message works for you, and by the way, the opportunities are going to be more vast than ever before. in terms of what the markets will do and we have scenario casted for many of them and we already know given certain circumstances which emergency uh and which trades we're putting on as uh as they come due. You need to have a plan. You need to be part of an organization or a cooperation where everybody is suspicious of government and their malfeasants and their intentions for you. They've done enough that you should realize that and is taking active action for their DDay and there is a D-day although as I say it's more a process than any one individual day it is a D-day process that is coming and it's not far off the bond market's climbing our predictions that they will go higher and higher. We've continued to be accurate on the macro time frame. We're often wrong on smaller time frames, but we continue to be accurate on the major key core themes. And this tells us we reassert and we continue keep on keeping on in this space in terms of that positioning. Um, jump on the YouTube as our first uh port of call. Watch some of our videos. Um, you can see some of our trades that we've taken in retrospect. If you're in the community, you get them obviously earlier uh and all the discussion that goes with them. Um, you can also follow on X under the market sniper. All our links for booking a call are in the YouTube uh show notes or you can go to thearket sniper.com website. >> Absolutely. I'll put all those links in the description below. And thank you Francis. Always a blast having you on. >> Thanks for having me on. >> Thank you all for joining us. This episode is brought to you by Arc Silver Goldmium. They have some great prices on precious metals bullion products. You can see them on your screen right now. These are subject to change and well supplies last. So reach out to owner Ian Everard today at 307264-9441 or by email at ianarchsggo.com and make sure to tell him that commodity culture sent you. And I'll see you guys in the next episode. Commodity culture is a series on commodities and natural resources. 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China Draining SILVER From the West, Price Headed to '$300 and Beyond': Francis Hunt
Summary
Transcript
The price of physical silver is increasingly being set by China, not New York or London. My guest today, Francis Hunt, the market sniper, brings us his thesis on why Shanghai is the market to watch, along with breaking down why an epic sovereign debt crisis is brewing and when it does finally bubble to the surface, why it will send both gold and silver parabolic. then you're going to want to stick around to the end of the interview where Francis explains the digital control grid coming for humanity and how you can protect yourself. So, let's dive into it. Francis Hunt, great to have you back on Commodity Culture. I want to kick things off today with the silver market because last time I had you on the show, you pointed out that increasingly it was the Chinese market that was setting the real price of silver as opposed to London and New York. How has that situation developed since the last time we spoke and what is your overall outlook for silver in 2026? >> Yes. So, two questions in there. Uh the first part, let's deal with that first. Um that's ongoing and it's not opinion piece on my behalf. That's uh essentially what we're seeing out of um news flows. It's public domain knowledge if you care enough to watch. Uh, in fact, I've got a couple of uh super quick, you know, if you just if you're just on X and you're in inquisitive enough, you can go do the search and you will see uh China silver imports. Let's just run the headline super quick for you. You know, uh, China is paying $8343 for silver right now and the West is selling it. Well, I say selling it. The casino price is 7566. Uh, good luck if you want to try to get that price in ordering an ounce yourself. Um, you won't get anywhere close to that. Same metal. You're almost $7.77. Lots of sevens in that one. Uh, that gap has existed for 7 months. So, quite clearly there is a migration. When you have a disperate pricing, yes, there's some frictional costs that don't make for a perfect arbitrage. Um, but quite clearly there's a migration. Demand sets price. uh the demand is higher in the place that is looking for monetary metals and also one of the most instrumental key industrial metals in the green agenda the solar panels and everything else in a time where we're having an AI boom that suddenly climate change doesn't matter we just need energy to fund data centers so you know uh a bit like how Putin killed the climate change thing when he invaded uh Ukraine uh he he killed the CV 19 uh tale of 2022. It seems like uh the AI data centers has killed the climate change for now until they need it back again. But that's what's happening in China. The other thing is uh a couple of other comments. All these are people I uh follow and that are reliable. The UK imported 601 tons of silver from the US in March. But let me just stop those in the United Kingdom getting too excited and immediately exported all of it near all of it to China and India. So China is draining the COMX via the LBMA. That's another uh uh uh key point. Also more interestingly is uh Singapore is going to launch a futures uh contract on silver. I've often said that Singapore is the acceptable face of uh eastern um the rise of the east uh in terms of their role in the global economy and with that uh that key post I would say you know you're looking at them becoming far more significant uh in terms of uh pricing so you're going to have a lot more pricing going on combination of Singapore Hong Kong Beijing you got a much more in terms of flows in terms of the price that is being offered to have it landed in there. You've got a lot of silver that's leaving London and the US and that is going into India and China. So that is the migration east of real sound money. So I think we've dealt hopefully with both parts of your question there. >> Yeah, absolutely. Now silver's obviously been on a very roller coaster ride when it comes to the price action. We saw it rise of course to new all-time highs in January this year getting well into the triple digits. I think it closed at around $116 on on its strongest day. Following that, it fell 26% in a single trading day. And uh we we've kind of made a bit of a comeback and been consolidating largely consolidating sideways since there silver also taking a hit in the aftermath of the start of the war in Iran. I I know price predictions are a mug's game, but do you think we get back to that triple digit number and perhaps even all-time highs this year? Yeah, another good question that many people will be sitting on and quite a few people have felt u a little disappointed in Silva's recent performance forgetting that the break began really at the $25 uh mark uh and didn't stop running and actually went all the way to uh 121 I believe it was up top here. Uh so I put some lights on and you'll get the the measure. This is on a weekly chart. This is the silver chart uh on a weekly uh and you went as high as 121 um in that period 12164. You then had that 64 crash you referenced 96 rally back down to 61 a marginally lower low. Um so we have in terms of our technical analysis I'm going up to quite a big time frame here. There's a couple of drawings and annotations on this. Uh and I'll just I'll just stretch this out so that everybody can see the key bit. our overall take remember and and I think I did this with you that have to people would have to look at previous uh watches when we look at the quarterly chart this is a weekly chart quarterly means three months every candle is three months we explained to you that you have a target for 3333 range and beyond in the cash price we also mentioned that the second inim level is going to be kicking in from the late 90s to about 105 and that's typically when you get a pause that's on HVF method on the big HV VF draw that gave us that 333. We never called that the top. We said we probably go single digit and we've even got point and figure targets because we don't have a pattern big enough for in between 333 and going singledigit gold silver ratio. But uh so this p pullback is expected uh and was due and people forget that this is a quarterly chart on the macro setup that we had uh and you're in a gestation period. Overall the structure for us has looked and is consistently represented what we describe as a falling wedge. That is a technical structure that is normally associated with upside continuation. when you come up into it like that. We talk about a splitter, which is a line that breaks it in three. And we talk about the rule of three, three key selloffs. In other words, we talk about three impulses in a falling wedge like this. And what's actually happened is we just had a massive rejection. So, I'm just going to take those last two lines away to bring you into the future. Adam, uh, what looked like a breakout, we took it and we we cut and run thankfully. and uh was able to leave with some profits because we're expecting the possibility you could break out from this. But when you look on the weekly chart, this still this rejection that it turned out to be in the end. And what happened for that rejection? Well, an increase in hostilities, a possibility of an attack, you know, the the complete theater that goes on there and the cacocracy of moving markets by statement. Um so if oil price goes up at the moment even though they're both commodities priced in dollars if oil goes up it means rates higher on bonds and please we must talk about bonds US guilds particularly but uh long end midend and short end across the world um so I'll just drop that thread separate to follow up yields go up and bonds collapse and that causes a massive problem but it took the foot off the whole muse came in when the silver squeeze uh was getting in too intense. Suddenly we had the contrived event which is actually a supply chain an agreed crossnation supply chain throttling that brings stagflation and even a more extreme version of that because that's how they impoverish you and enrich the billionaire class. So drill down anywhere you like um on that later. But what we got was uh we put a brakes on gold and silver's run and we now push the commodity of oil up uh and now that pushes bond rates up and that of course while it looks like some people were claiming 5D chess on Trump's behalf, what it's actually done is made funding uh and refinancing debt a whole bunch more uh expensive in the US the US and the focus is moving ever more harshly onto the debt markets. So if the debt market starts uh to collapse um you will see a rush back into metals as the final reserve asset. Uh so in the long end you might postpone but you don't cease the eventual ascent of the silver and gold markets. Technically this was a big rejection candle and we leave the possibility open that you could go lower first before you eventually get the falling wedge break. That would be a demand destroying event. we mentioned may sell in May and go away. One key trend which is negative for equities, negative for risks, any form of risk which could see bonds again come into trouble. The higher the rates go, it leans a bit initially on the metals markets. They don't pay a yield in due course uh in traditional terms, but in the long term they preserve value. Uh and of course the higher yields crash stock market, it causes liquidation and people sell their best collateral to support their losing positions. sadly. So you get an initial sell off in the metals. The longer run effect is metals will go higher. So we are waiting a third possible selloff here for which this was a rather ugly rejection candle here that didn't follow through on the breakout of the falling wedge. How low does it go? It could bounce on our splitter and be mediumsized. If we have a big demand destroying event and a lot of stress, you could come right down to the lower level. But overall the the the medium macro move is uh medium long-term is a break to the upside uh for this and once we've done with that second intrum a very brisk open territory move to the 333s where we will pause again much like our second intrum only even possibly a bit longer during that period. So let me hand back to you because there was quite a lot in that. 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 ianarchsg.com. Make sure to tell them of course that commodity culture sent you. And now back to the interview. We definitely have to follow up on the potential sovereign debt crisis that is brewing because we've seen yields rise across the board. I mean, Japan is particularly alarming. It looks like the Bank of Japan lost their yield curve control. I think back in 2021, maybe early 2022 is when those bonds started to break out. now at completely alarming levels. Historically, we're also seeing um US government debt. I believe the 30-year and the 20-year are now above 5% which many analysts are pointing to as a danger zone. Um maybe unpack for us a little bit more the potential implications of these rising bond yields across the board. Now, interestingly, China, one of the few countries whose bond yields are actually going down right now, um which is something maybe you could comment on as well. So debt and people's ability to back their debt is what's coming into um uh focus right now. And I will mention this I don't sound to be a grandizing we get a lot wrong but we were the only people covering uh Japanese debt. So bonds isn't the most exciting topic for many people and Japanese when you're living in the US or the west or speak English language means some place far away's debt markets. So they were our lowest viewed videos and I kept smashing them out and that was in 2021 and the structure we we pulled up that we were showing is as per our call in 2020 on the US debt markets that it had turned and that this was the most seinal by implication call that we've ever made. It's now debt market going net down in value and yields going higher after a 40-year period. That was such a controversial thing to call a turn. Uh Ral Pal, many others were all talking about buy bonds where diamonds, many other traders because it just kept getting bought up. Everybody used the bond market as um their escape haven when there was uncertainty in equities and everything else. It was a very controversial opinion at the time. Now we've got a a swave of Japanese Bank of Japan, Japanese duration watchers, uh, that are all wanting to get in front of the narrative and talking about, wow, this one's done this. I will show you when that Bank of Japan, uh, curve really started to go wrong and when we called for a ridiculous number and it was sub uh, one at the time. If I get a 40-year up and I bring up a monthly chart and I'll show you uh, that particular structure right now. Um, here we go. Let's share the chart. And this was some time ago. And it was an insane number that we gave at the time. And it looked like this. And I'll draw it for you again. Um, and this was following the US call because we saw if the category of debt is to come under, if America was coming under stress on its debt markets, the overall category of debt surely couldn't be too far behind in our opinion. So, we became avid watchers of the Japanese rates. Now, this is on a log scale and it's kind of confusing and distorting, but we did this draw and we did did this video as that triggered and we done the the draw before that and you are at 0.70.7%. And we came out and said this is going to 6.874. Think what happens when that occurs. By the way, your blowout through there, the degree of devaluation in that debt is absolutely immense. And just so that I can show the fullness of the nature of that call, that was the size of the move needed. When you dlog it, many people will realize if you're just looking at this geometrically, we said then at 7 0.79, that was the triggering event for going to 6.874. And I will point out to you it has already done twothirds of that move since that call. Uh and that was in and around the triggering event was just as we were turning 2022. So it followed we were August September 2020 that we called the turn in the American market. Uh and very shortly after that I say shortly uh the end of 21 Jan 22 we got our triggering event on the Japanese. and you're twothirds of the way now making a ridiculous number as a logarithmic uh projection to the upside on rates. So this is debt based collapse. Now that kills the yen carry trade. So think about all that's going to go on. I'll put it back on log scale just for the proportion now. But that that was an unbelievable call for rates being below one that many people thought we were a bit loony and it was possibly why we got low view numbers on that those YouTubes. But it is absolutely happening and now everybody is a Japanese yen. What this means is we've got a globalized debt base collapse because once uh people are not uh enjoying the American debt, they look at the other debts and they say well they're not all much better particularly in the west. Um and this is the key part. If I go back down to a weekly time frame, I'll show you what's happened on the 10ear in the states. Now we've always said amidst many people getting very bullish, oh pristine collateral, you know, the likes of many influencers on YouTube were making comments, demand for the the, you know, the treasuries, all those people talking America down, you know, treating us as if we were just negging and the haters uh on the the the nation on account of the state of the debt market was a very very uh poor take and many people were doing that. I don't know if they're funded to have those opinion, but this always looked like upside continuation for us and it points to a 5.966. Coming into this year in November of last year, while still in Panama with my Panama background, we said 6 by six. Six core western nations to go to the 5.75 to 6% range during this year of 2026. give me six extra months uh for my prediction so that we'll take it into halfway into the following year. So I asked for an 18-month time frame to deliver many nations through to 6%. This has just triggered it to an upside and has just run the 4.635 after being as low as 3.9 in March. So you're going from 3.9 to 4.6 in a couple of months. So July 2027, could you be through this or in the 5.75 range? Possibly. I might run a little bit out of time, but that's going to happen. Many people will say, "But that's impossible. No one will be able to afford." Well, it's debasement of debt. It's a fiat and debt debasement cycle. This is the great debasement error. And you've got to own high value physical assets, particularly monetary assets, which will do especially well. A lot of people will come with me with copper and you know um for example the uranium for nuclear they're going to do okay but divide by gold and generally they're going to underperform gold. Uh very few things outperform gold outperform gold and I'm going to say you know outside of the white metals of silver and platinum and gold itself you're going to struggle to beat it uh when you divide by gold ounces. In short, there is no more real reliable fiatbased unit of account. I'm looking at charts in Swiss Frank and I'm looking at charts in gold ounces. That's uh where I'm looking and the Swiss Frank will have to continue to cut rates and debase with the rest even though it'll probably be the least bad fiat. So let me hand back to you on rates and how badly my view of higher for longer is coming true in front of everybody's eyes and our 6x6 prediction. Um if we miss it, it'll more be a function of chime than uh not happening at all. >> Yeah, some great thoughts there. Uh I want to switch over to the gold market now and discuss some pretty shocking news coming out of India which of course is Prime Minister Modi going on TV and imploring his citizens to stop buying gold for a year. What is behind this? I mean this guy's talking about protecting the Indian economy. Meanwhile, he's gallivanting around the world going to visit all these different politicians in different countries and posting about oh wow look at the Indian culture in whatever Norway or Italy or whatever. I mean guys, these politicians are all just parasites. Let's make that clear. Um, what what is the deal here? Because Modi of course has said, "For the next year, I would like you to stop buying gold." And we all know how governments work that well, what's the quote? There's nothing so so permanent as a temporary government program. I mean, moving forward, do you think they could move to eventually ban citizens from buying gold or establish some sort of quota system where you're only allowed to buy so much gold per year? And ultimately what do you think is is behind uh this proclamation? >> So inherently politicians we we always apply the law of inversion perversion by the way the hunts law of inversion perversion. That means do the exact opposite of what they're telling you. So if he says don't buy gold um it means uh we're going to have a currency crisis on the Indian rupee. Buy gold. Um sell your rupees buy gold. Um and by the way that's happened before in 1967 with a Gandhi uh and they said the exact same statement. So this is a repetition of cycle. In 1967 Gandhi came out uh and in fact I can find that tweet uh I will narrate it to you anyway but it's worth people once again seeing this is historical uh facts not uh something I'm conjuring. Um he they said in ' 67 to protect our foreign uh reserves uh because you know we don't export enough they import all their silver and gold most of it they don't they aren't big miners and they import their energy so they have a lot of base uh needs that require uh imports that put immense pressure on the rupee and as you see the rupee devaluing which it is which I will show you a chart for in a second. Um, of course, the people do what they naturally do, the smart ones at least, and they set out to preserve their buying power. Uh, and that often involves uh bringing gold into play. So, let's just have a look at that. That was Modi. Reduce your fuel consumption as well because that the more energy they consume, the more they have to import. Don't buy gold. Uh, work from home. Uh, appeal of people that is a reserves crisis. They lack foreign uh so all fiats are flawed but some are even more compromised. For example, China runs trade surpluses with most nations. That means you you reference Chinese debt and why the interest rates are low. Well, that a property crisis, but also they good for backing it. They are net stacking bullion at an epic rate. People don't fear complete confiscation and loss of money in the Chinese bond market. They also had a property crash that there's other reasons. They haven't been perfect. Um there is no perfection anywhere in the world of fiats and debt. But uh that's why they can afford lower rates. I was shocked to hear some experts saying, "Yeah, they're in a depression and the US economy is great because we had 4.5%." No, it's the pricing mechanism for likely default and debasement that is in place and the US has to price a lot cheaper and offer a lot higher yield on account of its excessive position in that market. So again the the west is losing on that front and India is not as in as strong of position as other bricks nations like China uh in terms of this. The rupee is under pressure. So I mentioned let's have a look at it. Let's first deal with the gold uh question as well and just show you what I I fear is still to happen. I mentioned three waves of selling. For me the the the continuation pattern here could be in the category of what we' describe as a channel uh bull flag. Uh you had a big sell wick here on a this is again a weekly chart of gold by the way. You had a big sell there where you went from almost 56 down to 44. That's the better part of $1,200. That's quite some correction. And then you had the 54, a little bit lower, going to a new low at $498. And then you've rallied moderately, but without too much enthusiasm. You're in the channel, and now you're grinding along the channel, and you had a bit of a rejection here. So, there could still be a third sell-off. We talk about the three waves of selling before you break. You could come down here and break eventually. Uh or you could come down a bit deeper if we had a really shocker demand destroying event such as the NASDAQ and the AI boom crashing which I think there's real motives. You've got Michael Bur with a billion dollars short most of it on Palantia. Um you've got Warren Buffett that's been a net seller and his uh successor a net seller of stocks for better part of five years and the accumulation of cash. So that there would be effects to precious metals of uh very steep demand destroying event by the way and it is also the perfect environment for them to bring in their CBDC's. I know you have a question at the end on that so I'll leave that there. But so for me generally it gold looks a little bit precarious like it could go downside. You could have an instance where we have a a sudden reblow up of the Iranian story. It's kind of useful. It's like the Ukraine Russia war which is sort of dying out as a a theme of you know you get you get fatigue to certain news items. So they've created a new event that they can suddenly reheat and you can have a surge in oil that can cause a surge in the bonds push the devaluation which they need and is also the stagflation that enriches the billionaire class that own excessive assets whilst debasing the debt they've borrowed to get on those assets. So the top side goes up the valuation in lie of the monkey money devaluation that holds some value and the debt gets debased. So the very heavily borrowed uh with beneficial terms to corporate banks, the billionaire class gets excessively rich. It's tipping the casino table and all the chips end up at the other side. The middle classes, the blue collar, the working classes, the working poor, you name it. They all have cost of living increases and become ward of state under a UBI new CBDC system. So it's the perfect economic policy by manufacturing the horm. They put they put supply chain pressure. Oil is uh as I've said before, it is a financial weapon of economic destruction masquerading as a basic com uh commodity in a military uniform. Uh you have a bit of war, you push it up. The oil majors that are all largely owned by the legacy families, they make a lot of money. They can claim higher insurance on shipping and all of these things. Most big billionaires are in that space. There's very few of us that are rats and mice that have meaningful skin in that game. They they build their income at the cost of everyone else inflation on the world. Uh particularly the west, particularly Europe at the moment. So that's gold, a possibility of more downside before we reassert to the upside. So we're going to have a demand destroying event that will probably go first inflation and then bring about chronic deflation uh to a degree. Um, let me know if I've answered your question because there was a couple of legs to it. That's what I see happening in the gold market. Let me hand back and you can reask. >> No, you you definitely uh touched on all the points that I I I wanted to hear from you about. Now, I do want to turn to gold and silver mining stocks because they've been barely outperforming the metals themselves. And as some of the big producers in the gold sector, your Agneo Eagles, your Numonts are reporting record earnings, their stocks are falling in response. What do you think is causing that disconnect and do you expect that trend to reverse at some point? >> 100%. Allow me one last second on the previous question just before I deal with miners. I promised you the Indian rupee and I didn't deliver it. Uh let's just give you the 43 uh rupees to a dollar back in 11. uh that is now 96 and going parabolic that was also part of the story. I had a feeling I'd forgotten something. So to miners um why miners underperforming? Well uh we can go to specific charts in a moment if you like but the key thing is there's a double hit effect on mining that doesn't exist in the metals to a degree. If the possibly at the moment it it does have a little bit of an effect on the metals but if you push the oil price up you are inevitably uh putting more pressure on the miners that are quite big consumers of the energy. Um typically that's not normally an associated issue with the metal itself. If you have gold and oil is going up it's often um a debasement of dollar. It's a commodity bull trend. We do currently have that adversorial element. If you'll allow me, why do we have that adversorial element uh at the moment? I think it's a question you haven't asked that probably warrants an opinion anyway. Um that oil go up, metals go down, but typically they were both part of a commodity complex. We highlighted that gold and silver about two years ago is going to chronically outperform oil as a commodity and that you should be in the monetary metals and that then went and transpired. it was then getting out of hand on the ratio and you hadn't had any meaningful pullbacks. We showed the inverted head and shoulders and all of that. So we prioritized metals before oil. What hormuz has done is it's taken some of the sting back on that relative valuation down and pushed it into the inflation which is oil the military uh the military dressed commodity that is actually a financial weapon of mass destruction as I describe it. uh it's pushed that forward to push the inflation which in the long run will come back into gold and silver but first causes bond hikes higher yields pressure on gold and silver um and many people like why is that happening why we've got that inverse correlation at the moment my one of my theories is the brick nations that have been massive importers I don't think this has affected China so much because actually the trade surplus that they have with America was off record highs mainly because of imported gold in the products, not in the services. So you have goods and services in the goods area. It was primarily gold, the single biggest line item for 5 months in a row that hit records that was leaving America and going to China. Some of it via Switzerland and UK as you've seen the LBMA clearing and some of it direct and Hong Kong. Some of it's also leaving from UAE Dubai also to China. So, and I can tell you dark gold or blood gold that's the subsistence mining um with kids and quite uh you know dastardly conditions in Zimbabwe and other places is all going via Dubai into uh Hong Kong and Beijing and some of it even through Singapore potentially. But anyway that so they have the reason some of the edge came off is other nations like South Korea uh maybe Japan to certain degrees didn't have as big a reserve of oil uh to continue to produce. So that became a higher urgency priority. So they become forced buyers at the higher price because they have insufficient energy for their production. So they are not energy self-sufficient. They are importers and they are very reliant on the ability to produce Toyotas and Sony's and Panasonics etc. They need energy. So that got them ceasing um to buy uh precious metals. Those that might have been I'm not putting any particular nations to this. I'm just saying those that ran surpluses with America could have been net accumulating instead of treasuries uh gold and now they have to swap it for oil. So that's removed a large institutional and uh nation and central banker potential uh purchasing reduced it somewhat and uh redirected those surpluses to ensuring energy once everybody's got full uh reserves of energy and they've had plenty of warning now to be stocking and stacking stocking and stacking um oil and other things like uranium if they have nuclear power plants and solar panels etc etc. We can run the gambit. What I suspect is that money starts to come back into the metals and this is a discount window and China thankfully seem to be very well prepared. They're not they're not forever prepared on oil but they have a lot of other energy alternatives. They've continued with their stacking and they treated this as a discount window. So there's that tiny bit of substitution. Once the urgencyy's gone out of that, I expect the relationship to reassert in favor of the monetary metals over oil specifically. Uranium is a is a different one and I'm slightly more bullish, but I still see gold and silver outperforming it. Uh but it's one of the better of the energies. So, uh that's one part of what you were weren't asking. The other part was the miners. Uh and it and it is a fact that the miners I think have underperformed the the metals generally um in so far but they did have a little bit of a surge moment where they outperformed. Some of them pulled back quite badly and some of them less so. Uh I mean silver had a what 1.47.5% correction. There's certain miners that were less than that. Uh and there's others like Heckler that kind of pulled back at least as much. So if you have a specific minor, we got a bit of a mixed bag on the performance and I think people are underweight miners. The only reason I prioritize the metals is uh unless you're getting certificates, you've got great taking and counterparty risk. So uh my preference is uh possession is 9/10 of the law. >> Yeah, I like that. Now we we've talked often in the past about the digital prison being implemented by the political elite. You mentioned CBDC's earlier. Um, we've seen people being jailed for speech in Germany, the UK, and Canada is the latest country to try and implement hate speech laws along with mass surveillance laws, which I fully expect will pass. I think there's very few places in the world where the citizens are as asleep as in Canada. In your view, who are the real people behind the politicians pulling the strings? What is their ultimate agenda? And how can we protect ourselves from becoming their prey? So they've got a perfect they've got a perfect I want to call hux or or attack and counterattack uh strategy on how they're coming to you. One they do they essentially doing this outrage uh imprisonment which should create um civilian unrest. So they want civilian unrest so that they have the excuse to clamp down on you at bringing martial laws. Uh call you a racist, call you a you know uh you said something ugly on Twitter, hurty words, something to that extent. So they want you to be outed and then named and go in the database. So they create these outrage uh arrests and they let it be known and well publicized. They pass all these overly draconian totalitarian bolev communist styled laws. This is starsy territory and we've continued to say this is a communism that's being uploaded. So the whole Rockefeller lockstep agenda for 2030 is totalitarianism. This is and that's that's a fancy way of saying uh Bolevik communism as per during Bocheism in Russia only you have technological social media and a lot of things that never existed then and the farmers were slaughtered they lost their land they were called the bourgeoisi uh and all sorts of things they even slaughtered a dog a particular kind of dog that was very similar to an Afghan that was a Russian dog that the middle classes really loved and was popular. They literally stamped out right through uh and I'll I'll get the name for you next time. Maybe a very alert YouTuber can put it down there. Uh but it's almost out of existence as a as a Russian hound and it's a shocker. Um but that is what's coming. So I'm quite doomer. I'm not going to couch my message here. The key thing is what do you do? The the perfect uh flanking move that they do is one you react and you do something. You go on the list. You be the guy who stands in front of the tank in Beijing Square. You get chewed up by the system. Your dosile friends all learn it doesn't pay to resist. So you're actually getting the coward reflex provoked by everybody. So you either eat it, which most people are doing. They'll huff and they'll puff and they'll moan and scream and stamp their feet with mates uh over a beer in the pub and a tea at the tea room and a coffee at the downtown um schmuck bucks nail varnish sales. uh uh joints, but they're not actually really uh going to react. So, you become a primal screen uh in fact, social media is a primal screen therapy room where everybody who's angry can go vent. Uh and you know, we all have done that. But now they're even going to manage your venting. So, the point is that by controlling what you say, it retrospectively controls what you're allowed to think. It's an upstream integration into controlling you into complete surf. You don't even think to challenge power anymore. You become ultimate subservient. So one, you react, you get punished. Two, you don't react and you are you are coward complying with the totalitarian upload. They've got you either way. And I I've the reason I say people should leave the West is that it's not that there's Narnia outside of the West and that some of these things don't apply in the West. it's that it's going to be at its harshest in the white European nations of Europe, Australia, Canada, the United States, and the United Kingdom. And the the point is it's better to be, I suppose, zone four of the epicenter of an earthquake than zone zero. You know, right where it hits. Um, that doesn't mean I'm going to have a great time sitting in Georgia, South Africa, Panama, and any of the other imperfect nations that many people hearing those names will tell you. There's all of this wrong with that. Georgia's too close to Russia. Panama, you're a gringo. You know, I've heard them all. South Africa, you're a minority. D, it's crime. All of that stuff. But staying where you are in the United uh kingdom where that is going on or in Germany where there is active control demolitions being pursued aggressively of the economy and the social engineering by turning police into weapon of state against the indigenous people. That is irreversible and it's the most aggressive cancer. take take a lesser illness somewhere else. And it's not about uh where's the perfect place. People don't act because they don't have the perfect place. Sometimes you just have to leave. It's a beginning of the divorce. You have to divorce. It's not who's going to be my next wife or who's going to pick up my clothes. You can hire a maid. You can take your time about finding your next wife. just get temporarily out and get your severing of ties to the primary big slave master in those nations that is pursuing their agendas. And other people say, "No, you get the macho, which is what I call the cope, the inertia cope. No, I will fight till the damn lost. They can take my gun out of my grim cold dead hands." You get the sort of Kuster's last stand uh speech. And this is a very frustrating one because you aren't fighting now. Where's your community? Where's your small island uh in the UK isles? Where's your small county where you've all organized? You've kept your farmer in business. You're not having him put anything in the meat. You've had him opt out. You're not facing any legal challenge from Bill Gates and all the attack vectors that he signed. None of these people are actually doing that. At some point, they say they'll get angry enough to fight. No, no one's going to fight for you and you are already shown you're not going to fight that you've let them get this far without fighting. So don't tell me you're going to get out of fight. That's like Lazy Joe uh who's still in bed and says one day you'll get up and you'll get a job. Nobody's getting a job. Nobody's going to fight. You should be fighting already. Uh not screaming on social media. That's not fighting. Organized communities, setups, training your police, you serve us, all sorts of things. Otherwise, they get moved out. And let me tell you, if you try to do some of those things, watch how the system clamps down on you. Unfortunately, they control the media, they control the police, they control the legal systems, they control uh what you're allowed to do. They've written laws that makes your self-reliance almost untenable in your own country, even if you provide it all for yourself. >> And they can also freeze your bank accounts, right? I mean, they they have control over the financial system, too. >> Correct. Correct. and they're passing all the bills. And yes, that's also going to happen in other countries. If you're in Bali or Thailand or Panama, I'm not telling you you're going to escape all of that. There is no escape. It is a new world order. You've been in a new world order for an extended period and they are advancing their agenda and you never fought. And the people that supposedly fought that you thought you're going to okay, I'll vote differently. Good luck with that. People told you that when they put Trump in his advanced palunteer more than anybody has ever seen. They're in the National Health Service of the United Kingdom. They've got access to all the major databases in every aspect of your life in America. They are getting the doors burst open. There's a new vampire in the room. He's been given all the pints of blood and it's yours. And he's slurping it up. This is you. You know, you've got to see what's coming. And it's not. There's no way to polish this turd. I'm afraid it's it's it's pretty it's pretty um it's pretty intense. But guess what? It's a beautiful life. You've got days and weeks and months and potentially years left to enjoy it. And you should forget the big macro and get organized locally and get out of the most draconian countries and get with community members that recognize this because it's going to be on the ground that you survive. And you can go get yourself milk like I'm getting delivered to my door completely unpasteurized. Uh you can go get all these things local farmers keep them in business directly. Cut out the supermarket chains. There's so much you can do. We could have a whole separate chat on this. Um and in terms of arming up and getting to know your local police station, letting them hear what remmits are being passed down. uh they are in Ukraine bringing in Indians now into the recruitment that are more dispassionate about grabbing Ukrainian males because they've got most of them off. The only ones that haven't been captured are ones that have paid money and bribes to the existing police or you know and have really hid very well. They're now bringing Indian recruitment officers to snatch people off the ground for all those people that have been left alone. uh and haven't yet been bought. They've run out of Slavic males to slaughter in the meat machine and that's can be coming in many of these western nations too. Um and it's to get over the psychological stuff. So it's dark out there but it's a beautiful life too. You were chosen for these times. You've got to play your part. Be active or be the guy that says one day if it ever comes to my door I'll fight. And you're going to sit on your backside till then without ever thinking how you'll do it. what mechanism and how you gonna fight on your own when a police has a warrant and an order and you're in lie of it. What you going to do? You know, you're going to fire on policemen and then they're going to do the siege of Waco on your house and flatten it. Congratulations. Uh you left it too late. You did too little. They have the law on their side. You're a criminal. You'll be buried as an extreme right fanaticist that resisted the speech laws of the day. Uh and that's it. uh you need to act or that's your sticky end if you suddenly wake up and fight or you will comply all your way into the goolag and you know that's that's that's where we are. So, it's kind of stark, but there's wealth that can be built during this event. And you might say, what will you do with wealth? Sadly, if you have resources, you buy yourself more freedom. And that's the focus of our YouTube channel. You can build wealth excessively during these times. Amazingly, it's a speculator society. I never asked that asked for this. This is the society I was born into. So, I realized that's the game I have to play. I would love a nurse to be paid way more for what she does out of vocation care. I would love uh good, honest, hardworking people to be paid way more. I would love farmers to be less abused. This isn't my society. It's not my circus. It's not my monkeys, but it's the one I've been born in, and I'm got to play the the game in terms of the cards I was dealt. This is going to have huge market volatility and swings events. We've already spoken about being short debt. The TLT just fell out to the downside. There's wealth that's being built. We've advanced more millionaires in our community in the first uh three months of this year and the tail end of last year particularly and the whole year as a whole than any other known community. Uh in our one broker we've gone to being 20% of their database of assets under management because our our particular members went made 80 times more money than everyone else trading HVF method. Those people have spare money now to invest in structures much like the weapons they use against you. Forum foundations, trusts, residencies, capital gainfree certifications, all sorts of other things, many of which we have done ourselves first before you and we help you with. So here's the thing. You can build wealth during this time. You can't change this world. You're not playing at that table. This is where they taking it. Recognize your level in this game. It's not at the top. But you can build immense amount of wealth. You can utilize that wealth to build a multi-pronged multi-jurisdictional footprint. That doesn't mean you can't go back to the states and visit your friends. They'll all be a lot poorer than you sadly. And I don't celebrate that because they've stayed. They got hammered by the dollar. They didn't have enough precious metals. It got confiscated because they didn't turn it into jewelry or furniture or something else. It's called hoarding and bullion hoarding. and they wrote a law to strip it off you, you know, all of that's coming. Um, so be smart, take action, you can be wealthier, you can be better protected. There is no 100% solution. Um, and you can buy yourself certain freedoms by having a multi-jurisdictional take in a world where there is still some arbitrage although the agenda is broadly universal. And that's the key message. That's what we look to do in the market sniper to help people achieve that. Uh, and anyone can come and sub and have a little look at some of our videos on how we do. >> Well, what I always tell people when it comes to uh, you know, diversifying geographically, just get one, focus on getting one other resident permit outside of your country of citizenship. And there's some countries where you don't even need to spend much time in terms of boots on the ground. There's countries that if you purchase a property, they'll give you permanent residence. Just try to branch out and then you at least have two different political jurisdictions in two different locations. Your home country in which you have citizenship and another country in which you have residency. And now you can have two different bank accounts. You can have different brokerage accounts across these jurisdictions. Just start in in that way or make that your first goal and then you can potentially branch out as you've done into a more multi-jurisdictional approach. Well, Francis, tell us about the market sniper. Where can people find it and and what is it you do there? >> There's a beautiful life to be had in spite of the times and you should look to retain as much of your rights which will soon become privileges uh as possible by virtue of doing those three steps I mentioned. Build wealth, protect that wealth, become multi- uh jurisdictional. And if you feel that message works for you, and by the way, the opportunities are going to be more vast than ever before. in terms of what the markets will do and we have scenario casted for many of them and we already know given certain circumstances which emergency uh and which trades we're putting on as uh as they come due. You need to have a plan. You need to be part of an organization or a cooperation where everybody is suspicious of government and their malfeasants and their intentions for you. They've done enough that you should realize that and is taking active action for their DDay and there is a D-day although as I say it's more a process than any one individual day it is a D-day process that is coming and it's not far off the bond market's climbing our predictions that they will go higher and higher. We've continued to be accurate on the macro time frame. We're often wrong on smaller time frames, but we continue to be accurate on the major key core themes. And this tells us we reassert and we continue keep on keeping on in this space in terms of that positioning. Um, jump on the YouTube as our first uh port of call. Watch some of our videos. Um, you can see some of our trades that we've taken in retrospect. If you're in the community, you get them obviously earlier uh and all the discussion that goes with them. Um, you can also follow on X under the market sniper. All our links for booking a call are in the YouTube uh show notes or you can go to thearket sniper.com website. >> Absolutely. I'll put all those links in the description below. And thank you Francis. Always a blast having you on. >> Thanks for having me on. >> Thank you all for joining us. This episode is brought to you by Arc Silver Goldmium. They have some great prices on precious metals bullion products. You can see them on your screen right now. These are subject to change and well supplies last. So reach out to owner Ian Everard today at 307264-9441 or by email at ianarchsggo.com and make sure to tell him that commodity culture sent you. And I'll see you guys in the next episode. Commodity culture is a series on commodities and natural resources. 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