Autogenerated Transcript (0:00 - 0:12) War in Ukraine and the Middle East continues to expand, drawing in other countries. Unemployment is on the rise. Home prices are dropping while foreclosures are climbing. (0:13 - 1:28) Food banks are seeing record numbers of visitors while charitable donations in Canada have been declining for years. Donald Trump, for all that he may be a net good for America and the world, is threatening crippling tariffs on Canadian imports. The writing is on the wall. We are headed for an economic crash, one that could make the 1929 crash and subsequent depression look like a minor correction. Meanwhile, globalist forces are pushing for central bank digital currencies, digital IDs and social credit scores, and our own government in Canada pushes through bill after bill designed to take away our rights and our freedoms. But as with any crisis, there is also opportunity. There are places to put your money that are not only proof against a crash, but where you can profit from it, while leaving yourself with currency you can use to buy goods if cash becomes unavailable. In this, our fourth quarter update with my team of financial experts, we review the past year, predictions they have made that have already happened, others that are in progress, and some that haven't happened. Yet. (1:35 - 1:51) Bryce, Adrian, Warren, it's a pleasure to have you back on the show. Thanks for the opportunity. Thank you. It's great to be here. Now, this is the fifth interview that we've done now since the end of last year, and you guys have made a bunch of predictions. We're going to do a little bit of a different format today. (1:52 - 4:46) Bryce, you're a big picture guy, so start us off, please. Yeah, so just to give a little bit of context for this, so each time that we come out here, we did a slightly different structure to get different amounts and different types of information across. But like Will said, I do big picture stuff, geopolitics, what's the underlying reason for all this stuff happening. Adrian talks about the underlying financial technicalities and what's happening in the markets, and then Warren really covers what's happening in precious metals in relation to all these different takes. And so I'm going to be talking about some of the stuff that I talked about previously, how did those things progress, why did it progress, and what's happening with the negative things that I've been predicting. But to start off, we're going to go with Warren first, so he can basically tell everybody about what's happening with Volt, because there's been a lot of movement this year. So Warren, why don't you start us off? Okay, thank you, Brice. Okay, so I made up, like Brice said, a kind of police here that we predicted this kind of thing at the beginning of the year when we were on the show with Will, and so I highlighted those. First of all, the pricing. So the price of gold and silver both approximately just a 30% increase, right? And you see at the beginning of the year here, we had gold and silver both, you know, $20, $30 for silver, now we're at $31, approximately it's like $31.60 today. And same with gold, $20, $2,060, now we're at $26.80, which is even a little pullback. We've been higher this year. But, you know, so both of them has retrained to then that these prices would keep increasing. And another behavior within that price increase is that gold does what it usually does in these times of bull markets when the prices are increasing, gold leads the way, silver comes up behind, and then usually surpasses as far as price appreciation, like silver goes up a year higher, it's a smaller market, much smaller, it's more volatile, and we have that really huge industrial demand for silver that we don't have for gold. So that's on the prices. Now, the central banks, we talked about in January, the central banks buying record amounts of gold. So here's a January, here's a headline, you know, they're accumulating more gold. Now, am I showing the right screen? Are you guys seeing the central banks, if you really? Yes, that's right. (4:47 - 6:24) Okay, okay, good. So this continued through the year, there's variations. For example, we just heard that Trida, they slowed down, but they increased again in November. And Trida is doing something very interesting, too, that we haven't really seen before, is that they're going around the world, and they're buying unrefined silver, so silver dory, which is really off the exchanges, so it's a little bit hidden. And they're buying it, South America is one of the places where they buy from, they have a big port at Peru, for example, Peru is the third largest producer of silver, and they're bringing back their precious metals, but bringing back the unrefined silver and refining it. So Trida is going full bore on gold. And I have a, there's the other statistic, yeah, okay, so central banks in November, 44 tons. So basically, the takeaway there is the central banks, the biggest entities, financial entities on the planet, they are continuing to buy record amounts of precious metals. And in particular, with Trida, so you don't realize China has one of the biggest exposures to treasuries, US treasuries, and they own the most. So to offset that, that's another reason why they want gold. If the treasuries in the US dollar goes more sideways, keeps degrading, well, they want that backup of gold. And that's one reason. (6:25 - 7:24) Okay, so we're back to the slide. So the other thing was the BRICS, the BRICS countries, buying gold as the BRICS, the countries are doing China, Russia, India, for example, those three buy record amounts, but they also, also it was a contiguation of talks, let's just say talks, of moving away from the US dollar to some different financial system. And in particular, was that the white paper that they talked about last time in the meeting, I believe it was the Kazakhstan that was hosted by Putin. And it was, isn't that ironic? He was hosting the meeting, he's sort of made a global pariah, but he was hosting that meeting. Anyway, during that BRICS meeting, they talked about this unit white paper. And so I have, let's figure it out very quick. (7:25 - 8:03) Okay, so unit white paper, what is it, what is it about? This is the white paper of it. And it's a way for the BRICS countries to potentially trade with their own currencies. But the key part here is that it has a batching of gold. So I'll just point that out and then maybe I'll hand it over, that's three good topics. Yeah, so the unit paper reserve measured at gold, it's basically 40% looking for it here somewhere. There's a 40%- That's the top there. (8:04 - 8:44) Oh, there is that, okay. It's not a cryptocurrency, but again, less than it's a sellable currency, allowing the BRICS countries potentially, if they go ahead with this, trade in their own currencies, which they like. But it has a backing of gold, 40%, and other commodities. And so to get away from this printing out, I'll bring your mummy out of thin air, they got a tip of sort of a plan to do this. And it's very significant that it's gold, again, almost like going back to a new form of a bolt spanner, if you will. So I think that's where I'll stop. (8:45 - 8:53) All right. Now, just before we move on to Adrian, though, Warren, I've got a question for you. Because you mentioned, and Ken, if I can get you to stop sharing your screen there. (8:56 - 11:43) Now, you mentioned that China was doing something unusual, they're buying the door, the unrefined silver, and they've said that's not happened before. Do you have theories on why they're doing that? Yeah. Silver, we've learned with silver that the industrial demand that's increasing sort of well around the world, solar panels, electric cars, medicine, and so on. But it's also, it's really kind of getting strategic for countries. Unreported by the Silver Institute is the military usage of silver. So like, unfortunately, the military needs silver, the Tomahawk missile has, I don't know, your price, you might go, it's like five pounds of silver or something ridiculous. So strategically, countries are looking at silver. Another thing is the pricing. So the pricing of precious metals is really controlled by New York and London through the LBMA and the Comex Exchange. And this is where they also have paper representations of gold and silver ETFs, which are controlled in London and New York. And they can use that paper market to manipulate the prices, or let's say, influence the prices. I believe they meant manipulate, but that's a whole other situation. Australia has an interest in having lower prices as well, right? Because they're producing all the electric cars in the world, they're military, and so on. And by keeping, by buying Dory unrefined, it's off the traditional channels of London and New York. So it's a way they can, and what I've been told, I haven't seen the exact numbers, but they're even willing to pay more than the growing rate of silver. So imagine I'm going to South America, Peru, which is the third largest producer, like I said, they have a port, that's the Dalton Road Initiative, that's what China has done too, is enabling infrastructure around the world to create a sort of a new Silk Road, if you will, and precious metals, yeah, with the silver, it's very interesting. So getting the Dory unrefined, taking it back, shipping it back to China, now it's off the books of the traditional channel of the LBMA and the commodities exchange. So two things would occur to me from that explanation, Warren. Number one, they're able to acquire a large amount of silver that really isn't tracked. I mean, we wouldn't know how much they have. And two, you've said that they're actually paying above market value for it, which says to me, they believe it's going to become even more valuable yet. (11:45 - 13:24) Yes, I mean, if you, you know, silver of all things, so there's people that are not in the precious metals arena and, you know, the commodities traders who believe like silver is the most undervalued metal period, they smell like it. For example, today, the price we're talking about $31 spot price US per ounce, we saw $49 in 1980, believe it or not, and again, in 2011. So we're nowhere near the all-time highs. So it really is undervalued compared to gold. Do you see, do I have, am I sharing a screen, the industrial demand? Yes, yeah. Yeah, it'll be so much, this is silver this time. And to, well, to just to open up that point a little bit more. So we've got this deficit four years in a row. And this is, this is the world producing approximately 850 million ounces, but we're consuming over a billion ounces. This is four years in a row. And you would say, but why don't we just mine more silver? But the silver supply only went up about 1%. So it's problematic because the number of levels for silver is, first of all, only a quarter of the world's silver comes from silver mines. The rest is a byproduct of mining rolled, lit zinc and copper. So the supply is somewhat inelastic for that reason. And also there's a lot of red tape, a lot of red tape, especially in the West here to just mine, you can't just go in and they're getting environmental concerns and everything else. (13:24 - 13:43) Plus just the whole development of a mine, finding deposits, which is challenging enough because a lot of the easing device over the surface has been mined. It's challenging after then developing a max 15, 20 years. So we can't just snap our fingers and say, let's get more silver. (13:44 - 20:43) And I'll go back to the military usage. That's there. And you have, that's there. It's not really reported by the Silver Institute. This is where this is, by the way. This is the independent body that traps the silver around the world. And because of the military usage, as you know, China, the United States too, they had maybe an interest in keeping the price down low, but eventually, and I know going on here, I'll stop in a minute. Eventually the fundamentals of supply and demand went through. And we think we will see a big appreciation all at once for, especially for solar, because the demand is not going away and the supply is not catching up and there's no real easy solution. And they're looking for other, say, metals to use as solar panels. But I said, yeah, it's still the most conductive. And the thing that I like to talk about with silver, it's more conductive than copper for electricity, but it's also very, oh, you can stretch it. I'm missing the word here. You know the word place I'm talking about? Let's do some metal. It's almost ductile. So we can stretch one ounce of silver out at 800 yards. So that is why, because that combined with its conductivity, while it's great in electronics. So these computers we're on today, here where I live in Alberta, we're going ahead with AI centers. They need lots of silver. So let the man is, and I guess I'm just emphasizing that the man is. Now, Bryce and Adrian, you've been very patient. I'm going to ask you to be patient for just one more minute because there's another important question that occurs to me, Warren. We've already talked about the fact that silver has a lot of applications in the military, and China has the fastest growing military in the world. Just as one example, they have 17 naval shipyards compared to the US's five. All this silver they're gathering, how much of that do you think is going into military applications? That's a really good question. I just really learned of this this year, and I think there's people in the industry, in the precious metals industry, like Andy Shetman of Miles Franklin. I just love that guy. His knowledge of the macro picture. He's talked to people that ask military people about how much silver there is, and I use the cruise missile, but it's also in the electronic components to fire vessels and everything else. I don't really, well, unfortunately, maybe that's a takeaway for me, and maybe I do that in the next session here, but how much they really use. We do know that way back in the 60s, when the United States, they de-silverized, if you will. They took silver out of the coinage. There was a military component to that. They've been using silver in the military for a long time, and we have countries like Mexico is the largest producer of silver. A couple of years ago, they started talking about nationalization. It didn't nationalize silver. What they came to, though, they curtailed constraints on foreign companies going there. Their concession for their land, I think, was reduced for 50 to 30 years and more water rights. But again, recently, they're looking and saying, look, this is a strategic metal for the world. We have the laws of it. We want to tighten it up, and I think that's somewhat military-related, but that's my try to find out. What does the Chinese military use for silver in the US? Maybe I can bring that to the table. Adrian, thank you. Bryce, you want to interject something here? Yeah, just really briefly. A big use for the silver in military is the electronics and control mechanism. It's usually high-tech stuff. Stuff like ships and stuff won't have as much on that because that's just typical wiring. You're not going to use that massive amounts of silver for stuff like that. It's more of the high of the super high-tech stuff. All of the advanced weaponry and stuff, they all use silver because it's more effective and more efficient. Yeah, I only use the statistic about the naval shipyards because I happen to know that one off the top of my head. But in all areas, China's military is growing faster than anyone else's, so I can imagine they would have a huge demand for it in jets and missiles and all of that. All right. Adrian, you've been extremely patient. Thank you. You're up. All right. So I just want to share the – I covered this in all the other meetings, but the first one I want to talk about is the banking crisis. It's not going away. This, again, this chart shows how much unrealized losses that the U.S. banks are holding. The numbers have improved a little bit, mainly because banks are actually selling their bad debt and realizing losses and offsetting those losses against their profits so that the public doesn't see really what's happening, and they're slowly trying to liquidate those losses over time. So as long as they aren't forced to liquidate and to meet a bank run or excess cash being redeemed, they're just trying to manage away that risk slowly. So it's still bad. There's rumblings that banks are running out of cash. In Canada, we're hearing that the credit defaults, credit card defaults, mortgage defaults are increasing. So the situation is getting worse, but you're not seeing a lot of news about it. So I'm just monitoring it, but in Canada, I don't see the banks collapsing primarily because our government has been in there buying up mortgages. I think last year, we spent almost $40 billion of taxpayers' money given to CMHC that has been buying up the Canadian bank mortgages and then repackaging them as investments with the full guarantee that if any of the mortgages in those pools default, the taxpayer is basically on the hook for it through CMHC. So they're trying to keep everything under the hood, that everything is fine and projecting that, but it definitely continues on and will get worse as time goes on. (20:44 - 23:06) Then we have Canadian real estate across all markets, real estate is going down in price. I think, for example, Toronto and Vancouver, I think house prices and condo prices now from their peak are almost 20% down. Those numbers are going to get worse. There's an absolute crisis brewing in Toronto on the condo market where a lot of these developers have been building a lot of owner-occupied condos that investors bought. I think the number was closer to 80% of all new construction was bought by individual investors who were then trying to rent them out and they're underwater and they're starting to panic as they have to take possession of those units. Expect a bloodbath in the condo market. That's not affecting the purpose-built rental market, that's a different story. The reason it's a problem on the condo market for owner-occupied is these people paid way above what they should have paid for what the rent justifies, so they're in trouble. The next story is the stock market. I think we're going to see a strong year because of the Trump effect. There are a lot of things that are happening right now that cause the market to continue to rise. It's not because the market's doing well, it's not because the economy is doing well, it's because there's a lot of money that's flowing into the markets. Big risk though is these seven tech stocks which represents 50% of the value of the S&P. If you look at the risk, it's all there. This next slide here, you see that this index here is the S&P 500 with the Magnificent 7 in it. That is the Magnificent 7 and then you've S&P index weighted index. If you take out the Magnificent 7, the index itself has actually been flat since 2022 when the market bottomed out. All the risk in the S&P is on those seven stocks. (23:06 - 23:50) When those seven stocks do pull back or correct significantly, it's going to be mostly those stocks that take the hit. Initially, the rest of the market will take some hit, but it won't be permanent because what's going to happen is there's going to be rotation out of the Magnificent 7 into the other stocks supporting those stocks. Here's another graph that shows that most of the risk is in the US. This is again the S&P 500 US market and these are all the other markets. This is called the price to book ratio which just shows that the S&P is considerably way overpriced compared to the rest of the world. Most of the risk is in the US. (23:51 - 24:35) If you have a portfolio that's diversified outside of the US and not into the Magnificent 7, you're not going to see a significant correction in your portfolio. You will see a bit of a correction as an initial reaction, but the values are there in the rest of the markets. It's really the risk is in those 7 stocks. Here's the main reason why the S&P is doing so well is the continued printing of money is basically mirroring the index itself. As they print more money, that money just flows into the index, flows into the markets. It's really the US market that's really overpriced. (24:35 - 25:31) And what I just want to cover here is that when the market does correct, most portfolio managers that I'm coming across, most mutual funds, they mirror the index whether they say that they're independent and are picking stocks, they tend to mirror the index. But what most managers do or even ETFs is when the market starts crashing, that money starts leaving the Magnificent 7. And first of all, the indexes have to rebalance. Portfolio managers want to get out ahead of the market and start selling. And then they start buying up all those stocks that are underpriced, supporting the stocks that are underpriced, and then further pushing the Magnificent 7 down. So you're just going to get rebalancing into the markets. And that's going to prop up the rest of the market while the tech's basically correct. (25:31 - 27:17) I have an example back in 2000, because we're in a tech bubble 2.0. In 2000, during the dot-com bubble, I basically moved all my clients out of the tech stocks, out of the dot-com stocks, and put them into resource stocks, precious metals, for example, and financials. When the market collapsed in 2000, the market was down at one point over 50%. The financials and the resource stocks, or mutual funds at the time, were up 30%. My clients, that was an 80% spread between the market bottom and the market itself, and my clients were actually up 30%. So it's not that the whole market crashes, it's parts of the market that will take the hit. That said, we may not see a correction in the Magnificent 7 this year, because there's so much money being flowed into the market, and partly because of the Trump effect. All right. Now, just before we move on to Bryce, Adrian, I have two questions based on what you've just told us. Now we're on interview number five, after all the information that I've gotten from you gentlemen, I have absolutely no doubt we are headed for a major, major crash. However, you made reference to the Magnificent 7, this tech bubble, but I'm quite certain, I believe I'm right in this, in that all of those seven companies are investing heavily at this point in time in AI. So here's the question. Now AI is just a tool. Think of it, a lot of people are very scared of AI right now, and we have good reasons to be, but it's like a gun. You can use a gun to commit murder, or you can use a gun to feed your family. I use AI tools in my own business to make things more efficient, to do things that I used to have to pay a person to do, and now a machine is doing them. (27:18 - 28:45) So is that a bubble, or is that a genuine new market that could carry them for quite a while? I mean, the crash is coming, but the question I have, I guess, here is how long can the AI keep that propped up? Well, it's a bubble because the valuations of these stocks are way above norm. And just like in the dot-com bubble, there's a lot of enthusiasm that the dot-com craze would bring in a whole new wave to the business and opportunity, and therefore a lot of money poured into the sector, more money that should have got in, pushing that market into the stratosphere. For example, the top stocks back then, like Darkel, had no real earnings to justify the pricing. And most of the stocks were way above what they should have been based on the earnings that are being generated. So I'm thinking right now, there's so much money flowing into the Megazin 7 that they're priced for perfection. They're priced as if they're going to take over the world, and these are going to be run by AI, and these companies are probably going to be the net beneficiaries. The problem is, if you look at the dot-com market, the stocks that everybody was chasing were not the stocks that survived 10 years later. A lot of them disappeared. All right. Thank you. It's occurred to me my second question would be getting ahead of ourselves, so I'll hold on to that one. Bryce, you're up. (28:47 - 30:12) Can you just stop sharing, Adrian? So I was going to start somewhere else, but to both of your points, I think this is important to understand. So the economy itself, the smallest unit of the economy is a transaction. That is what the economy is. It's transactions happening. We call that the velocity of money. So to really understand what's happening right now and why, we have to understand why these things are happening in this way. So you just mentioned AI. So the important factor in an economy is that somebody has a job, they produce something, that something that is produced is bought by somebody else. We have an economy that flows rapid. Now, we've financialized that to a monolithic degree, they're printing trillions and trillions of dollars, and we have trillions and trillions of dollars in debt. But what COVID really changed, and to a bigger degree, actually, the big financial crisis in 2007 also changed, is how people work and where. So the big change that happened in 2020 was that labor was effectively internationalized. So now not only can you work at home, you're now competing with not only people in your city for that job, but also anybody in your country. And on top of that, people outside of your country. And so what that did is that, I always say democratize it, because it's more of decentralizing the value of labor. (30:12 - 31:29) And as you're competing against people that will have a much lower cost of living, what people do in the global South, then that pushes down wages for a variety of reasons. If I can pay somebody $5 an hour instead of $50 an hour, which one am I going to choose? And there's a really important distinction here that's now changing with the advent of AI and robotics. Because I said this for the last couple of years, is that all jobs are two types and two types only. One, that you have to be there to physically do, and everything else. And if you have robotics, that you can train to do a physical job while you potentially can replace that person. Factories are becoming more automated for that reason. And now we have AI that are being implemented into all sorts of things, not the least of which government and the magnificent seven. And they're trying to reduce their labor force as much as possible. Now, this does two things. One, well, there's a lot of wild things, but two big things anyway. One being that the amount of labor that you need to accomplish something is going down. And two is that the amount of labor available is going up. And what we call that is unemployment. And one of the big indicators in the last slide that Adrian ended on there was the SOG rule. And that looks at two things, which is the employment rate and the interest rate. (31:29 - 32:33) So when interest rates go up, plateau and start coming down, and unemployment starts to go up, that is what the SOG rule is. And it's already been triggered. So we're basically at the end of the second quarter now when the SOG rule was triggered. And so what that generally meant is that the recession is either happening or about to happen. And the unemployment rates that are in the US and Canada specifically, because our economies are so vitally went, despite TRIO trying to destroy everything, is that has a big effect on people's purchasing power. So like I said, if you don't have the money to go and purchase things in the economy, aren't bought, that means people or companies are reducing their production capacity, they're laying people off, and it's basically a downward spike. That's what happens in recessions. When I was a young girl, when I looked into history, the depression of 1929 happened, it just didn't really make a lot of sense to me. How could you have all of this activity, and then all of a sudden, boom, and now it's turned off because nobody had any money. (32:33 - 33:01) Where did this money go? The money is still there somewhere. It was in somebody's pocket. But if you were buying things on margin and you lost a thousand percent of whatever you invested in, poof, it's gone. So where does this actual economic activity have it? And so for most of human history, that's been very close to the bottom of society. 80%, 90% of people were farmers. So as long as you had food growing, you could survive, and you could trade this food, and you'll get enough money so you could do a couple things. (33:03 - 35:35) So what this is really showing us is that the financialized, superfluous, esoteric, outside value, luxury items, a lot of that stuff has been built to cater to the middle class. And the middle class is getting absolutely destroyed right now for a variety of reasons, not the least of which increasing taxes, not the least of which due to recession, layoffs. Because the biggest asset that almost everybody has is their job. That's your cash flow, that's what keeps you alive and keeps you going and allows you the mindset to be, hey, I can go purchase something. Which is why our economy continues to increase, because we're always printing money, we're always putting stuff into the economy, where I was buying stuff, where I was making stuff, where I was selling stuff. So I'll put it up enough for now. You have something to say, Adrian? Where the hell that money going in the 30s is the same place where that money is going in today. Most of that money, while living in a stock market, where investors were buying leveraged pools and leveraged pools were buying leveraged pools, it was just the financialization of printed money. So all that money did not go into productivity, into production, it went into the markets. The same thing's happening today. It's not going into creating new jobs, creating new business opportunities or any of that stuff. All that stuff you looked at last chart, all that printed money is bonding up in the stock market. And that's where the risk is. There's a lot of being printed, but it's not going into productivity. Exactly. And so what are the big things that's happening? Well, one of the big things that I talk about is war. And there's a reason for that, right? We, in our Western lives, everybody that's alive right now, effectively, because most of the people from World War II are now housed in We've lived in what's called the peace, the peace bomb, black hammer, the technical term. But anyway, we've lived in a world of peace more or less in the Western world, right? That is now ending effectively. The oligarchs in the world, the deep state, all these people, they're trying to force us into a war and it's working. War has escalated across the planet. And so the first thing that I really want to cover for everybody is what's really happened with that. I predicted that this was going to get a lot worse, and it has. So let me just give you kind of a brief overview of the stuff that's happened. And most of the stuff was recent, since the last time that we talked. So I mean, just think about this stuff for a second. If I had said this a year ago, okay. Think about this stuff as before Putin had invaded Ukraine. (35:36 - 37:39) When Putin invaded Ukraine, right, for rightly or wrongly, whatever, doesn't matter, fall on that, it is an escalation in war for the purposes of geopolitics and resources, right? The big reason for this is seizing resources and having control of areas of the planet. That's real war support, right? And so I said this just after Trump went to my brother to just give him, he's like, hey Ned, what's happening? Just brief overview of the last couple of weeks is what I said this, right? So after Trump won, he wanted, he said he wanted to do a peace, like get, like end the war, right? And Biden basically was like, hey, well, we'll send over some attack guns and long range missiles into Russia. So that happened. Russia basically said this was a massive escalation. They changed their nuclear doctrine, and the change in their nuclear doctrine, everything in that list had already happened. So their nuclear doctrine that they changed too, they could launch a new whatever, and it would be within their doctrine to do so. That was a major escalation. It hasn't happened thankfully, but they did launch a new intermediate range ballistic missile in war. And this is the second time it's happened because Iran did it too, which is the only thing I'll mention in a second there. But the important part here is that Russia has effectively said, we're at war now. You guys are at war with us, even though in the West, we're still like, oh, yeah, we're just defending Ukraine, and it'll be this circumspect language. But like, it's a war. We're at war in a proxy war. There's proxy wars all over the planet, which we'll get to in a sec. But it is a proxy war that is becoming an actual war. And I think the ultimate question there is, are we ready for a war? The universal answer is no, and nor do we want a war. There's no reason in a business sense, war is never good for the people that are fighting it, right? We've already had a million people dying in Ukraine, from both sides, right? That's not good for business. That's not good for life. (37:39 - 38:12) That's not good for humanity, right? But it's escalating. So these days, I was always going to point out on these, this has all happened in recent memory since the last time we talked, okay? So Syria collapsed in 12 days. So that civil war happened for 10 years. They collapsed in 12 days. The day after that they did a peace agreement with Hezbollah so they could move resources, Israel bombed a whole bunch of stuff across Syria for a variety of reasons. Wiped out, just to interject a number there, they wiped out 80% of Syria's military capacity. (38:12 - 40:36) Yeah, in a couple of days. And this is kind of my point, is that things can change like that, right? And all of the economic things that we're talking about today, right? If any of these things were happening, like were happening in... Oh, sorry, not in aggregate. If they were happening in a vacuum, they would be like, oh, that's pretty significant. But these are all happening at the same time. And the pace of change is accelerated, right? It took Rome centuries to collapse, right? It took Syria days, you know? And so when we have the internationalized order that we have, we're all super connected now. Information travels like that, right? I knew about the Trump assassination, how it was happening, within minutes, right? Because I would have happened to be on Twitter at the time, right? And so we have the ability now, where it took days, weeks, months, years, decades, centuries in history for a duration of travel, people react to it. Now it can be within hours, minutes, days, right? And so that increases the fear that increases the impact of things happening, because it's closer to your mind, right? And so Iran launched a massive attack on Israel with ballistic missiles, right? And that wasn't anywhere near their capacity. They have orders of magnitude more capacity, right? And so we're quickly moving towards war with Iran for better or for worse, probably for worse. Yeah. And especially if Iran gets nuclear capability, which they are trying to do. Yeah, but we're moving to a world where it's balkanized, right? The US military has effectively created the international order that we all know and love, because it basically allowed everybody in that was a part of the cool kid group, you could go trade with them, as long as you had something of value to add to the international order, you could trade for what you didn't have and that you needed, right? So that includes food and energy, whatever, right? If that breaks down, North America is actually really good situationally, because we have all the resources, we need to be completely self-sufficient, but the rest of the world will not do so well, especially the triad. And kind of where I'm going with this is that if all of these things continue to deteriorate on the trajectory that they are, it's really going to be not good for a lot of people, because food is one of the primary things that travels internationally. (40:37 - 45:51) Peter Zion, although I disagree with a lot of stuff that he says, he made a really good point that the majority of the food production in the world now relies on input to get to the level that it is to support all of the people we have. We have 8 billion people now, and that's a vast increase from even like 10, 15 years ago, where it was like six and a half, seven billion or whatever. So the increase in the size of our population has now plateaued, but now we're in a decline in population. We're a deflated population for a variety of reasons. And the ability to feed ourselves is also declining. Ukraine and Russia were about 30% of grade production on the planet, and now that's obviously not being exported out to Ukraine because they've been effectively destroyed. Not to mention that they can't grow anything because it's a war zone. But in that vein, Ukraine has invaded Russia. Just think about that for a second. You have Ukraine that is supported by NATO, that has NATO money, that has NATO troops in it, and technology, ISR, all of this different stuff, invade Russia. That's insane. But just that below, that could be basically World War III. And there's all of this other stuff too. So North Korea and China have deployed troops to Ukraine to fight on the side of Russia. I don't know how much more you could make that a world war because you have multiple countries in the same proxy war effectively against the West. And in that vein, Xi Jinping, the illustrious communist emperor of China, has said to his military, prepare for war. Well, there's only one group of people that they would be preparing for war for, and that is the West. I.D. us, right? And kind of the biggest, my biggest fear, and I'll just wrap up of a sudden there, my biggest fear is twofold. It's that the West is supposed to lose this war. When Trump got in, Trump won in Kabul and Taikok. And just think about that for a second. Trump was almost assassinated. A bullet whizzed by his head, and if that bullet hit his head, what world would we be in right now? Like, well, there's hope now that Trump could pull us back from- Yeah, yes, I know. None of us ever expected that Donald Trump might save the world someday, but it's possible. Living in the craziest timeline for sure. But let's just put that aside for a second, right? And let's say that he can actually do that, right? He still has to fight a war against all of the people that are trying to destroy the West. The oligarchs, the communists, the radicals, all the nutjobs of the world that are trying to destroy us, specifically the West, and humanity, and all that. And so my real fear is that we're supposed to lose this war, and I hope that we could win, obviously, because I'm in the West, and I like freedom, and I hope everybody survives all this good stuff, right? Because I'm both a altruist to a certain degree, but at the end of the day, right? We're still in a physical role that have physical requirements, and a war is a game of physicality, moving from one place to another to achieve a goal. That's what a war is. It's a game of logistics, and it's a game of power projection, right? And so if this is the world that we're moving into, one of war and uncertainty, volatility, right? It behooves everybody to prepare for that, because there's people in the world that are saying, hey, we're going to war. These guys are our enemies. We're going to kill them. That's an all or nothing game. And if I, we, us, the West, you know, Western society, civilization, human civilization, or whatever, are the enemies of these group of people, well, those group of people, wherever they happen to be, i.e. all of us, need to be preparing for that eventuality. Because I don't, because I'm certain that there are evil people out there doing evil things for evil purposes, right? That's not a spiritual fit. That is a fact of history. There's lots of evil people in history that have done a lot of evil things, and the only thing that stops evil people from doing evil is good people for a good purpose, right? And so my kind of underlying request for everybody is to act like this is serious, because of it, right? We have had to fight for our freedoms, really, in the Western world for a long time. Now we do, because we're legitimate, and I'll cover that in a little bit. But this is my second fear, is that World War III is about going to look like World War II, right? We think it's going to be planes and missiles, and which it is right now, but the real big threat, and this is my really big fear, is the where drove technology is going. It doesn't make financial sense, logistical sense, to put a gun in a guy's hand and send him walking across the field's captured area. It makes far more sense to have a factory pumping out millions of drones, one of them with a gun on it, one of them with an explosive on it, and just send them and fight all the enemies and kill. That, I think, is where warfare is going, and not only is that eternally destructive for humans, because it's far more efficient, if that technology gets to the point where somebody has an ultimate pill switch on basically anybody on the planet, that is effectively you are a slave to whoever has that control, and I don't want to live in that world. (45:51 - 48:51) And so what this requires is that we, as a society, have some sort of martial protection for ourselves in our society, and we are defenseless. And so I'm going to cover that a little bit in the second part. But what I was talking about earlier with robotics and AI, if you can have an optimist, let's say, basically a Terminator, if it is connected to AI, have a weapon, and then send that weapon into an area with populations, if the populations don't have a defense against that, they lose. It's not a war, it's a slaughter, and I don't want to live in that world. And so this is the trajectory that we're on, unless we the people say, yo, this is bullshit, then we outstop this, right? And so I'll say two last things. So on top of all of that, we also have the Southern Hemisphere, so Venezuela annexed Guyana this year, and that was almost unavoidable, or just kind of lost all the other stuff that happened. And South Korea, this was a couple of weeks ago, implemented martial law like that. No warning, no nothing happening, they just martial law today, it didn't work. And there's lots of reasons on both sides to distrust both sides of that argument. So it could have been the communists that were trying to take over, it could have been somebody just trying to take power, become an emperor in South Korea, we don't really know the end of things. But I'll end on this, is that we are connected at the head to the US. For better or for worse, cannabis is a part of the US hegemony, financially, economically, militarily, and socially, really. Our societies are very similar, our civilizations are similar, our language is similar. Our trade is the biggest trading partner for Canada, the US is our biggest trading partner. And Trudeau, in all his infinite stupidity, is starting a trade war with our biggest trading partner, instead of closing the border and solving drugs. That is absolutely insane, off the rocker stuff. And this is only in the last little bit. And so I'll end on this, is that when you look at all of these things that we're going to talk about today, what is the trajectory? All of these problems that we talk about, is it getting better or worse? It's all getting worse. There's a list of hope, maybe we could pull some stuff back, but it really comes down to what we as citizens think about, care about, and act on, that is going to determine what happens in the near future. Because we are running out of time before the ascent of our technology and the ascent of the people in power overpowers and overshadows anything to be citizens could do. So I think it really behooves us as citizens to be a part of this process in our society and safeguard the freedoms that people in our history and our ancestors fought for, died for to protect and give us. So I'll end with that. All right. Warren, I think we're going to end up talking about war a lot today, because it is, you know, as Bryce says, it's already happening, it's going to get worse. (48:52 - 50:48) My curious question here would be, how is that going to affect the precious metals market if we end up, and we could end up, yes, in World War III. If Ukraine gets NATO membership, which I believe they're going to, we could see a true Third World War, East against West, what would that do to the precious metals markets? Yeah, that's a great question. So, you know, precious metals have an inverse relationship to the stock market in general, which means that when the stock market goes really high, precious metals aren't really invoked, people don't invest in those at the times they're going to, and so on. And of course, the inverse is true of the stock market if it does crash. Gold has always been the most, the safe haven asset of the world and people will flop to it. What we've seen recently over the last couple of years is the stock market's on fire with, you know, artificially money supply, printing of money, and so on. But we also see precious metals prices higher. So, it's bucking that trend of the inverse of the stock market. Why is that? Well, it's because, I believe it's because of the geopolitical instability, that people are concerned about all the things like Bryce was talking about. You can see it, you know, it's out in the paper, it's topping a global level where we're moving, yeah, fortunately, to a really terrible situation of war that we're making plans now. It's like, it's that, it's the geopolitical war possibility combined with, like, I run into this all the time because I have a gold and silver broker and I do this seven days a week. And I run into people that just say, listen, I'm not a financial expert, but I don't, especially women of intuition, I will say this, I believe this, I have two daughters and been married for a long time, women of intuition, they're saying, I don't like the way that they're talking to me at the banks. (50:49 - 52:33) I'm worried about the banks, even though they don't make it into the details. So, the war thing is just, this is when precious metals shine, geopolitical instability. And then, just the average person in the street now, we're starting to, you know, get educated about the unsustainability of the financial system, right? It just is that, just in the simplest terms is the debt, the sovereign debt levels of, it's actually, it's a real life phenomenon, and Adrian knows all about this, but say the US and Canada, those debts that we have now, they're not payable. It's gone past the point without a radical change of some type that we could possibly, it's no more tightening our belts than saying, okay, well, we'll do some restraint and we'll stop spending. It is past that. So, I wonder if I could take a second now to go back to the military, because I was busy working away while you guys were talking to do some of that. So, here, I'll be quick, share of screen. The military usage of silver that we were talking about, I was as busy as a beaver. So, you see the industrial use of silver by the military, right? See that green? Yes. Okay. So, here's some of the things like rockets, missiles, night vision, all those things that Bryce was mentioning. Now, you see this last point here, the US Department of Energy excluding silver from their critical minerals, why? It just seems a concerted effort to sort of hide this need of the military. (52:34 - 54:45) Russia wants to, they just announced recently, they actually announced that their central bank has been a whole silver, they should traditionally just hold gold around the world's central eggs, but they're hit, likely from military. Now, this last point, China and India strategically deplete Western reserves. I think it's come to a point where, because of our monetary system, where we use derivatives, again, it's Adrian's expertise, where we use the paper representations of the commodities, that it lends itself to more manipulation. Like, it's just the way it is. You can do things with paper that you can't do with a physical product. And so, I think that the BRICS countries are using it like judo. So, what they're saying is, look, the West is, this is the world, the Western dominated the lead financial order that has changed in before our eyes. They work together to keep these precious metals prices down, we'll use that, let's fight with us, we'll get more physical, we'll use it like judo. The fact that they're suppressing the crisis, perhaps, we will keep buying, and that's what they're doing. I have a letter here that it was written by mining executives to the Canadian government, Ministry of Energy and Resources. And they're saying that these mining executives said, listen, you need to lessen the purse strings, lessen the restrictions on mining here for us, because the government is mandating all this green energy, decarbon, and it all needs more silver because of the conductivity of silver. That's a part of it. But here is the state of the military. Okay, I'll go for that, pass the second reserves now, BRICS. Quite a bit higher than the US, so maybe this is what will, what you're saying, where China is building fastest growing military, and they have more silver reserves too. (54:45 - 56:01) But they also, we have to admit though, they also have non-military use, which is they are the biggest producer of solar panels, they need solar for that. But there you go, there's what I found during a few minutes here is, yeah, that's how much, so of the industrial demand, 15-20% potential for military, it's growing because of all this stuff. They want pure silver, like really high-grade pure silver for the conductivity. And here's some more, and this is what Bryce was saying, all the different parts of the military that use the solar, that's weapons. And I think this would apply to the United States as well. But there you go, there's lots of usage for silver in the military. And I think, it makes, I just, to put this together while we were speaking, the last 10 minutes, when you guys were talking, I was using AI, I figured, so it makes me want to delve into this more and understand it more. But yeah, 15-20%, that's like what this estimate is of military usage. So anyway, there's, that's that. Okay, thank you. I sort of went on two tracks there. That's quite all right, that's good information. (56:01 - 58:39) And thank you for taking the time to do that while Bryce was talking. All right, Adrian, we're into, I'm no kind of financial expert, you and I discussed this, you know that about me. That's why I've got you gentlemen on to talk about this stuff. But it occurs even to me that two major things are going on right now, they're going to have a huge impact on the economy globally. The first is, yes, potential war escalating. The second is rising unemployment, and we are going to see rising unemployment. Just as a personal anecdote, I recently let my social media assistant go because I've been able to replace her with a series of AIs that are automated. The whole process does it better than she could do it. I felt bad about letting her go, but you know, this is a business that I'm running. Why pay $800 a month to a social, part-time social media assistant when I can pay a one-time fee, get an automation expert to build the system for me, and it's just going to keep running and doing the job and doing it better. So these AIs are going to keep replacing, especially the white-collar jobs where people have been making a living sitting at a computer clicking buttons. Well, now the computers can do that. And that's, we've already seen, I reported just this past week, that unemployment in Canada has been going up consistently now for quite some time. It's going to keep happening. So how is all this escalating war and increasing unemployment going to affect the economy? Well, I think we're heading into, let me just share my screen here. So I think what we're going to head into is something called stagflation, like we had back in the seventies, where we're going to continue to see the economy get worse. We're going to see inflation rising because of all the money printing, because of the escalation of war, that's inflationary. And we're just going to see more and more people lose their job. As Bryce pointed out on my last slide here, the sham rule, which shows that the three-month unemployment number is now higher than the long-term number, that's an indicator that we are already in a recession. So we are in a recession, but to show that is we are already seeing, in spite of what the government is saying, the unemployment rate is rising and it's rising in the US, not quite as much as in Canada, but it's rising quite a bit in Canada. And in the meantime, prices of everything are going up. (58:39 - 59:56) If you look at the CPI, it's excluding rent and food and energy and all those things. And those things that they're excluding are actually going up dramatically. So we are already in, I think, in a stagflation environment where nothing's growing and yet the cost of everything is going up. But I think that's the bigger thing. Just before you move on, is this not an unusual circumstance where we've got unemployment going up and we've already got at least one financial analyst in Canada saying we are in a recession despite not having had two consecutive periods of GDP going down. But prices are also going up. When you go into a recession, aren't the prices supposed to go down? They are, but we have so much money floating around, that's inflationary. We've got things coming with the new Trump tariffs, that's going to become inflationary with the cost of everything that's going to go up. He's planning on deporting all the illegal immigrants. They are mainly in the farming industry and in the construction industry. So that's going to make the construction of homes and infrastructure more and more expensive. The cost of building homes in the States and in Canada is going to go up because of the tariffs. (59:56 - 1:01:08) It's inflationary for the US. It's inflationary for Canada. It's inflationary for the rest of the world because the cost of everything is going to go up. So back in the 70s, we had the same situation. It was called stagflation, where the economy was terrible, and yet inflation kept going up. So it is possible. I mean, it happened in the 70s, and I've been predicting this for quite a while, that we're going to be entering into a stagflationary environment. And that's what it looks like, where we're headed. So that leads to the obvious question. What happens when a large percentage of the population is unemployed, no income, and essentials, say food, have gotten so expensive, they can't afford them? Unrest. The population starts to get unrest. They have to let go their frustration somewhere. You're going to see protests, just like you saw in, what's that little country by India there? Sri Lanka. Sri Lanka overthrew the government because people couldn't afford food. They couldn't afford, the farmers were going bankrupt because of the policies. (1:01:08 - 1:01:16) And they couldn't import energy. People will rise up. I wouldn't say civil war, but there are going to be massive protests. (1:01:17 - 1:02:34) And this is why the government is pushing the idea of guaranteed, what do you call it, basic income. Because people are losing their jobs, and people need to be fed. It's not going to be enough. That's why they're pushing the whole bug thing, because they want cheap food to keep the population from starving. And so the government knows what's coming, and they're preparing for it. And because we know, yes, and that was the point I was about to make, because Trudeau and Freeland and a number of other people in our liberal government are basically cronies for the World Economic Forum for the globalist agenda, they knew this was coming. None of this is by chance. The bug proteins and the universal basic income and all of that, they've been gearing up for it because they're manufacturing the circumstances that will allow them to do it. But they're so small minded in a way, because instead of looking forward and saying, well, AI is going to replace jobs, and then instead of letting that happen, put programs in place where they would train people to be productive in other areas that AI isn't touching. (1:02:36 - 1:05:50) Humanity is actually very creative if you're given the ability and the tools to do it. But the government's chosen not to put programs in to retrain people to go into other areas and create new opportunities. Right. Yes. Okay. Now, you've got your slides up here. Was there more you wanted to show us? It's the next discussion, which I can go into it right now, is that right now, and this ties into the market, you're seeing a lot of the big money, the professional money, they're moving their money out of the markets. They're moving the out of the AI stocks, like Warren Buffett has sold a big chunk of his Apple. A lot of the top money managers and CEOs of these major companies are actually selling their stocks into a rising market so that they get out. And then the average investor, mainly through ETFs, are winding up buying it. So they're able to get out at a high. And that's an indication that whenever that happens, we are heading for another recession. And that's what these are, is whenever you see a significant rise in the cash, you go into a recession. Significant rise in cash, recession. Significant rise in cash, a small recession. There's another one just around the corner. It's just another confirmation. Right. And so those major investors like Warren Buffett bailing out of AI stocks, that's really the proof to what we were discussing earlier, that this whole AI thing is a bubble. Overpriced. Yep. They know it. And Warren is a value investor when he buys attractive companies at attractive prices. And when they're too high, he just bails. And then sits on cash until the next opportunity. That's how he operates. Right. And so the average investor who doesn't know all of this is the ones left holding the bag when it crashes. They're getting suckered into the market. The news cycle, as you know, is controlled. So the news is basically pumping the market so that the average person who doesn't understand that the news is captured, that the financial media is captured, the people in the know are able to bail and the average person is getting stuck with stocks that are going to crash. Okay. Now we've discussed the effect of rising unemployment and rising prices, stagflation on the economy, the global economy, the Canadian economy, but we didn't really touch that much on war. If this war expands and we end up in World War III, what's that going to do? It's going to, it's usually good for the markets. It's in a sense, good for the economy because it creates productivity in the military side. Because as you're blowing up things, you're making more. So the military industrial complex is firing on all cylinders. So that's a positive for the economy, in a sense, and it's positive for the market. And if you look at throughout history, whenever there was a major war or breakout, markets did well. Until the war is over. Until the war is over. Now you're going into depression. (1:05:51 - 1:06:33) Right. So here's what happens then. And we've seen this in history. We've already talked about the fact that, yes, we're right now we're in a market bubble, especially with the Magnificent Seven and the AI stocks. And you're showing a chart right here that's showing the cash increasing, which means that always presaging a major depression or coming. But maybe we end up with World War III, which props up the markets artificially for a while until it ends. And what occurs to me is that when that happens, all that means is that the crash is going to be even worse. It's the longer the market is propped up, the bigger the crash is going to be. That's a given. (1:06:33 - 1:08:05) And they're already propping up the markets. The globalists have already been propping them up. And with that, let me just show you guys something specific because I want to show you guys a chart because I got an updated one. So we've shown this before. Adrian, if I could share for a second, because this kind of is in line. So what does this crash actually look like? And we've shown this before. So this is what we showed before. So this is the Dow Jones 1929s. We had the big uptick, 1929. Everything crashes and collapses, boom, all the way down to here. This is where we were sitting. So this is what we showed before. So I actually went and recreated this again. And so this point right here is right here. So since that time, since that chart was made, this is what's happened in the markets. It's gone insane. And using the same line, this is almost a 90% drop is what's potential when the next drop happens, if this is what happens again. And so the big risk here, and this is why I think they've been pushing off the actual crash, because they still need the US military to do what they need to do. It's because the US military is effectively an extension of the oligarchy to a degree. Hopefully, Trump changes that. But we'll see. We don't know. But the point that I'm making here is that when a crash happens, and it will eventually happen dozens of times, this is what is built into the system. When it does happen, it will be biblical. (1:08:06 - 1:12:49) Like, the only other thing that I can equate to something like this happening on the scale, because we're globalized, is the collapse of the Roman Empire, right? Hopefully, that does not happen. Hopefully, we're able to make changes. But the only way that that's even possible is if we kick out the idiots that are making it happen, as we just illuminated. But all of this stuff has been created. It's been intentional policy. And I'm going to cover that in my next little segment of what's happening in Canada and why and how. But the kind of the point that I'm making here is, if we do nothing, nothing good will happen, right? It is incumbent upon us as citizens to have our civic duty and be a part of this solution, right? Because these people that are doing this to us are not going to save us. They're trying to destroy us. Alright, so we've covered this global stage of the major threats that are coming. And I see them as being twofold. We've got global war, and we've got unemployment, which is going to keep going up. I don't see any way it can't. But we've been talking mostly about the global stage. And this is a once again, you're the big picture guy. How is all this going to affect us here at home? So I think I'll preface this. So like I said, in kind of last segment there is that we have a civic duty to be part of the solution here. These idiots that are in control of us, and that are implementing these policies that are destructive, part of the reason that they are doing this is that we are allowing them to do it. And it is because of us being inactive to a certain degree in society that this has been allowed to happen. So I want to show you kind of a little bit of an overview of what's been happening. Maybe you know some of this stuff, maybe you don't. But this is kind of just a really good point form list of all of the ridiculousness that's been happening, right? So we when I talked about the AI and the drones, the drones, the drone issue, one of the things that is the defense of this is having a martial society societies that lose their martial prowess are taken over by societies that don't, right? And Canada for better for worse, you know, we've got a really peaceful, great society or have had for a long time until recent times, but we are losing that martial prowess. And they just did a massive gun ban, gun confiscation program last week. And so I want to want to show you this, I share this, this, this meme a lot, because I think it perfectly encapsulates the gun debate, right? I am pro gun. And this is why because all of human history has proven that you cannot trust your government. This is so obvious. And the way that I explain this to people, and anybody can use this argument, because it's very simple. And it's very obvious. There's three groups of people in society, the government, the criminals that don't don't listen to the government and don't care about society, and the law abiding citizens, only idiots would believe that the only group of people of those three that shouldn't have guns are law abiding citizens, right? So I post this a lot. And I say this a lot, I like to CCFR. So if you are pro gun, and you'll pro defense of your family and all that CCFR is great people to what's the word donate to to support that. Okay. Now, our illustrious leader, Justin Trudeau has done a whole number on Canada in the last nine years, and the bills that you can really tell a lot by the track record of what people have done, right? And all of the things that have happened, the bills that they have put forward have been negative for Canada, there hasn't been anything to support our industry, there hasn't been anything to support job growth. All of the things that this idiot has put forth have been specifically to destroy or undermine or control different aspects of society. They've banned and censored the internet, they're done gun confiscation, their C 63, especially is basically hate speech laws, which allow allow them to put you in jail indefinitely for means words on the internet. C 293 is basically the loss of our sovereignty completely. It's just massive, massive nonsense, right? And I post this a lot too. So you can check this guy, he's pretty good. He made a big long list of all of the insane amounts of scandals that have been happening. And if you look at any of these, if... I want to jump in for just a second, because there's something really important to contribute here. C 293 is such a heinous piece of law that very recently Jordan Peterson announced, because he's now working with Daily Wire, he's moved to the US. And he's done it specifically because of 293. He says if that gets passed, this just became a communist dictatorship. (1:12:49 - 1:14:38) Yeah, exactly. And what I'm showing here is this is all of the massive scandals, stupidity, theft of our money by Freeland and Arif and all of these bunch of morons, right? All of these things show you in no uncertain terms that we're reaching the endgame. This is kind of the ultimate goal of these people is absolute control, absolutely, right? And the other thing I want to show, I didn't even really cover China today, I didn't really have time, but I've posted this before. But this is the end goal. This is the ultimate end goal of the oligarchs. Digital IDs, central bank digital currencies, microchips and 15-minute cities, so that they have total control. Because effectively, what that allows them to do is push a button and you die. That is effectively what that allows them to do. And going back to our point here, what happened over the year is the digital Canadian dollar, they're still working on this. Trudeau invested a whole bunch of money into AI so that they can do this through AI. They don't have to actually hire people to manage the system because they're so incompetent. It's important to point out, you can't run an effective central digital currency and a digital ID without AI, because you need to be able to track individual people. Exactly. And so the Chinese Communist Party has already effectively implemented this system. They have more cameras per capita than anywhere in the world, except for Las Vegas, basically. And it's connected to their AI so that they can facial recognition, they can charge people automatically. And when central bank digital currencies actually roll out, they can just take the money directly from you without your say-so, without what do you call it, recourse. And it's basically a totalitarian digital dictatorship ruled by a bunch of communist lunatics that can't even define what a woman is. (1:14:38 - 1:15:02) I hate to keep interrupting you, but you keep bringing up really important points that I know I have to add to for the benefit of our audience to talk about just how bad this surveillance through all these cameras is. In China, for years now, they've had cameras in the classrooms that monitor whether or not the children are paying attention, especially during the political indoctrination classes. And they get docked marks if they're not paying attention. (1:15:03 - 1:15:18) So what is this? This is a way of making sure that the children get indoctrinated. And don't be surprised if they get away with some of this stuff, that's going to be one of the next measures. And the way they're going to present it is they're going to say, well, for the purpose of safety in our schools, we're going to start putting cameras in all the classrooms. (1:15:18 - 1:20:44) Yes. And the avenue that they're using to do that is the trans debate, all this trans stuff that's happening. There was a story last week, and then I'll finish on this and save the rest for closing points. But they find a mayor for refusing to go along with their agenda. They find the city, they find the mayor. He refused it. They went into his bank account and took the money out. That is tyranny. That is the definition of tyranny. And it's done with virtue signaling, stupid points for all of these people. And I'm sick of it. That's Harold McQuaker in Imo, Ontario. I actually spoke to him. I wanted to do an interview with him, and he refused because he'd done one interview, one interview with mainstream media, and it had him in discussions with his lawyer because of the fallout from that. Yeah. And the thing to keep in mind about this is this actually stems from something that happened four years ago in 2020. It didn't just happen. This happened four years ago when they said, no, we're not going to put the gay flag up. And not only did they go after Harold, the mayor, they went after, and these are people who are even no longer on the council, they're going after those people if they voted against the pride flag. Yeah, it's insane. And this is the cultural Marxism that we've been talking about for near on a decade now, that's been slowly creeping in. And now they're getting to the point where they have enough power, they have enough authority, and there's been not enough people to stand up against this stupid nonsense that they're like, hey, we're laying this smack down. And this is why I talk about this stuff is because if you care about your family, and you care about our future and your children and the good things in the world, it behooves you to do something about it. Because we cannot do this alone. Nobody is going to be able to defeat this alone. You can't live in a vacuum. And the only way that this stops is if people get together, get organized and tell all these idiots to get bent and get out. And that's what 2025 I think is going to be about, is we're going to see whether we go down totalitarianism, or we go down in freedom, right? There's only two directions. There's only two choices. And the only thing that we can effectively do, really, is replace the corrupt governments that are doing this to us. Yes. Yes. So, Warren, we've been doing this sort of counterclockwise from the way the screen is set up. We've been talking to Bryce, and then to you, and then to Adrian. But I'm going to reverse it. And the reason I'm going to do that is because when we get to the end of the interview, Warren, I want to give you the last word. So, Adrian, coming here to home and our economy, and what's the fallout now? The fallout for the economy? For us here in Canada. Yeah, for Canada. All of this stuff that's happening globally, how is that affecting us specifically? A lot of problems for us, where our economy is going to continue to get worse. Unemployment is going to get worse. I don't… Yeah, I'm just trying to think about it. Let me try to ask you a specific question that occurs to me, because… Okay, I'm going to throw out a theory that I have, guys. We are seeing the population starting to drop. I think it's going to be a couple of years before they're going to have official numbers on that. But I believe it's already happening. We're already starting into a population crash. Now, that is going to affect supply and demand. And on the one hand, I can see a good side to that where real estate prices could tank to the point where young people might finally be able to afford a house again. But that also wipes out a huge amount of wealth, because the average person, where's their wealth? It's in their home. It's already happening. I mean, owner-occupied homes are dropping in price. People can't afford to stay in their homes. They're refinancing. They can't afford to refinance. So, even though there's like 30% of the population have their homes paid off, there's a lot of people that are mortgaged to the hilt. So, that's going to continue. As people lose their jobs and they can't make their mortgage payments, you're going to start seeing owner-occupied homes and condos, townhomes, all of those things are going to go down in price. I think you're right. That part of the real estate market is going to get hit really, really hard because nobody's working or productivity is going to go down. Again, you're not making as much money just to live. So, that's going to put a lot of pressure on the single-family homes and condos and townhomes. The only bright spot I see in the real estate is multi-family because, again, we have so many people that are still looking for a place to live that there's a shortage of rental apartments, rental buildings that they're able to charge top dollar, even though Trudeau was promising that we're going to see less immigrants in the next year, like 400,000 or whatever that number is. It's only a small number compared to what's already here and those people are still putting up a lot of pressure. So, there's a need for affordable rental. So, there's a slight bright spot there. But we're just going to see our economy continue to go into a tailspin. (1:20:45 - 1:21:22) With our dollar weakening, that's going to make it even more and more expensive because that's inflationary for us as a weaker dollar because we get a lot of stuff from the US. So, it's going to be very negative for Canada. Okay. Now, in a minute, we're going to talk about solutions, but right now we're still discussing the problem. So, Warren, you're up. Okay. Sorry about that. Do you want to talk about the solutions now or sort of like a prelude to it? I want to do a prelude to it. Let's talk about the gold and silver, the precious metals markets, specifically within the context of how Canadians should be looking at it and the potential problems that we're facing. (1:21:23 - 1:21:44) Right. Okay. So, let me share. I'll just use one slide for this to keep it simple because at the end of the day, this is really a simple proposition, an idea. Okay. So, precious metals, the reason to hold them is really to protect your purchasing power. (1:21:45 - 1:22:14) You know, people will come to me and they say, was it a good time to buy now? Did the price drop from last week? And especially when we're talking about physical precious metals, because we believe this is what you should hold, not the paper versions, that it's a long-term hold. But the number one reason is to protect your purchasing power. And that's what it's done for like 5,000 years. Right. So, on that theme, yeah. So, they've always done this for 5,000 years. (1:22:15 - 1:22:39) 2,400 years approximately, it's been a currency. So, we could buy things with gold and silver. Yeah, sure. It's not really that tangible today to take, you know, you can't take silver into the grocery store and buy, you know, your groceries with it. Yet, every country around the world recognizes gold and silver for value. It is the world's oldest market, the gold market. (1:22:40 - 1:23:25) And I should point out, and I know this is fairly obvious, probably to most people, but okay, if you have physical silver and gold, no, you can't take it to the grocery store, but you can walk into any exchange and get cash for it. That's right. That's right. So, you're talking about the liquidity. Yeah, you can go to any coin exchange in North America. And that is really one good thing that we have here in the Canadian North American situation is we have quite a few exchanges. And even with this backdrop of supply issues like with silver in particular, we still have fairly modest premiums that we're paying. Like the price, it's still a bargain, really. We believe this is a real bargain. (1:23:27 - 1:26:06) But again, protecting your purchasing power. In regards to the purchasing power, I think what's very disingenuous with governments today is they talk about inflation. And so, like right now in Canada, we had a jumbo rate cut. We had 50 basis points, right, Adrian? They just did that on Wednesday, two days ago. And part of the rationale they give for being able to do this is they've tamed inflation. But the basket of goods that they use to measure inflation doesn't include food costs, energy costs, or the increased taxes that we have here in Canada. So, you and I, when we go to the grocery store and everything else, it's costing us at least 10% more a year to live. So, it's not true that it's a cost of living thing. And this is getting back to the purchasing power. Gold and silver that have increased last year 30% against the US dollar, it's not because necessarily they've become all of a sudden more hard to get or more rare. It's just that the dollar itself is getting debased. So, it's becoming worth less and less, right? Here's just a value 8% increase. So, that's just a regular financial analysis type terms. That's done very well. So, the first 24 years of the century, 8%, I think it's about 8.4% or something. But overall, that's a great return. That's better than some stock indices. And one thing to note here with gold and silver, I guess, emphasizing the long-term hold, you can find periods within that 24 years where it didn't do so well. But if you look over the long term, gold and silver have always retained this purchasing power. For example, if we had an ounce of gold in 1913, when the US dollar was created, and we compared it to today, we could still buy all the same goods with that one ounce of gold today that we could in 1913. I use the analogy, the fine suit, a bottle of champagne, dinner at a nice restaurant with you and your significant other in a hotel room, that's about $3,800 Canadian. We can still do that today. You could do it back then. But the US dollar in comparison, it's worth 3% of its purchasing power. (1:26:06 - 1:29:01) You'd need 30 plus dollars today to buy what you could for $1. So that's the purchasing power example amplified. This is another metric. It's always outperformed inflation. So you might hear people say precious metals are a great hedge against inflation. It's like insurance in your portfolio protecting your purchasing power again. This is another thing to bring up with precious metals is there's no counterparty risk. What does that mean? Whatever investment you have, there's always some other counterparty that could affect your performance of your investment. For example, maybe you own an apartment building or you have a rental property, you need tenants, or you might have a business where you need customers to keep coming in and so you can generate revenue. Or if you have a mutual fund, let's say you better make sure or not make sure, what we want is that mutual fund company to be ethical and to perform as per the law so that they don't go out of business with criminal activity and we lose everything, for example. So precious metals have no counterparty risk. They just sit there and have been a store of value for so many years. That's another way they have intrinsic value by themselves. I could go on and on, but in terms of we only have a few minutes, I think that right there is a reason to consider getting precious metals. And then if you think about the things that Adrian said, you have to realize regardless of how technical we analyze the financial system, it is just totally not sustainable. I always go to that. And I guess the central bank's buying record amounts. So this is this other idea where precious metals have a value inverse to the stock market. Even though the stock market's been going up, precious metals are going to go up. You gentlemen have talked about a potential collapse. Well, when it collapses, what you want to be in is in precious metals. Of course, I'm biased. Let's face it, I do this for a living. But honestly, ethically, from every fiber of my body, I believe that this makes sense to have some to protect you against what's coming. And I'm really actually concerned about elderly people, because a lot of elderly people, they've stopped working or they don't work that much. They don't have much income. They're invested in these pension funds. These pension funds are all invested in this traditional market. I heard something, Adrian, you could confer this with the pension funds in Canada. Most of them are not even invested in our own country. (1:29:05 - 1:29:35) Globally. And I think an important point that has to be raised here, Warren, related to what you've been saying is you made that example of that dollar from back in 1913, where now you needed 30 of them, but that ounce of gold still has the same buying power. If viewers are listening to that and thinking, okay, well, great, we're talking about a 100-year strategy. No, we're not. Because as we've discussed in past interviews and touched on in this one, we are headed for a major crash of the entire economy. People are going to wake up one day and find out that that dollar is virtually worthless. (1:29:37 - 1:29:49) Yes. Yeah. And this is what's happening, right? The currency is being debased. The governments now can't use fundamentals to get us out of this. There's just no way. The debt's gone too big. (1:29:50 - 1:31:27) I think Bryce might have said it earlier that we're kicking the can down the road, but you keep kicking it down the road and then there's a reckoning and it's going to be a big reckoning because we've been kicking the can down the road for over 20 years. Eventually, you run out of road. Yeah. We could see a situation like what happened in pre-Nazi Germany, where children were playing with wheelbarrows full of money because it was worthless. It wasn't worth paper. It was printed on. Yeah. I'm a software engineer by trade, so I'm analytical. I just bring that to the table. I'm analytical. So I studied this like crazy. I'm very passionate about it. But I can tell you that there's never really been a better time to consider precious metals. It's just how should you hold them and who should you work with? I think that's the real questions here. This second point is Ray Dalio, Bridgewater Associates, one of the biggest hedge funds in the world, successful. Basically, what he's saying by this point is companies are overvalued. We had 0% interest rates for a long time, and companies subsided themselves on that by debt. So the debt was cheap enough that they could just keep borrowing and keep the ship floating. But there's a lot of companies that are overvalued in the stock market. This diverse portfolio, smart money has always had a percentage of their wealth in precious metals. Smart money is the central banks, the institutional banks, the billionaire investors. (1:31:27 - 1:32:12) They've always done this, but we see this rising now, the proportion of metals that they have. Now, I'm still on to the why precious metals. I could keep going, but I'm hoping that I could just get a brief overview of the solutions we have. When do you think I should make that break? Like I said, I want to give you the last word. So let's move back to Bryce because we only have about 20 minutes left. Let's start talking about solutions, and Warren, if I can get you to stop sharing your screen at this point. So Bryce, something you're really good at is solutions for the everyday person. Sure, there's people who are going to watch this interview who have $100,000, a million dollars to invest, whatever. But the everyday person is living paycheck to paycheck. (1:32:12 - 1:32:55) They might not have anything to invest, but there are still things they can do to protect themselves. There's three big things that you can ask yourself. I'm going to give you a little bit of an overview in a second on how to do this, but these are the three big questions you want to ask yourself. Do you have a community? Do you have protection? And do you have skills? When all of these bad things that we're talking about actually happen, the core thing that you have to add or that you have to give to your community is whatever skills that you have. That's labor, that's knowledge, that's expertise, that's assets, that's technology, that's whatever you have. All societies, all communities are built up of the people that comprise that community. (1:32:56 - 1:33:29) So the more skills that you have, the more abilities that you have, the more value you have to that community, whatever it happens to be. Now, this is one of the biggest things that I talk about beyond precious metals is number one is food. If you don't have food, literally nothing else matters because you die. And the key point here is that when desperate people are desperate, they do desperate things. And most people, as probably everybody watching this knows, most people have no idea about most of the stuff that we talked about today. So the people that listen to this, you guys know and you ladies know that bad stuff is coming. (1:33:29 - 1:33:39) You can see it. You can feel it. You can feel the problems that we're facing that are increasing in severity and speed, right? And so if you don't have money for precious metals, that's fine. (1:33:39 - 1:34:28) Just go get food, go get guns, go get skills, go get tools, go get stuff that's going to be useful for survival. Because when the economy crashes eventually or war happens or whatever, it'll still be you that's in your community. Doesn't matter where you are, doesn't matter who's around you. Well, I mean, it matters who's around you kind of, but what's important is what you can do, right? That's the important part, okay? And let me insert something and because obviously what you've said is very important because Adrian wants to insert something. Adrian, I'll let you go first and I got a comment. Get to know your local farmer. I'm fortunate to be, you know, grew up on a farm, family, relatives, friends or farmers. Get to know your dairy farmer, your poultry farmers so you have access to good quality food. Yes. (1:34:28 - 1:38:28) Now the comment I wanted to throw in is we've been talking about skills that you can trade for things and my recommendation to the viewers is if you have skills that require a person to actually be there such as trade skills, you don't have to be a tradesman because, you know, why would somebody hire $150 an hour plumber? Heck, I can do household plumbing and I'll charge you 50 bucks an hour if it gets to that, right? Or I'll trade you for something, for food or whatever. So focus on that. There's a lot of people, you know, who have been accustomed to making their sitting at a computer and where I see this going is a lot of these people are losing their jobs because they're being replaced with AIs and automation which means if you've got some skills in programming or you're very computer conversant, you might be tempted to think, well, why don't I just retrain myself to do AI and automation for other people? And the reason is that's what everybody's going to do and that's going to end up to be an incredibly competitive market. You're not going to be able to make any money at that because there's going to be people out there selling good skills at five bucks an hour. Yeah, exactly. And kind of what I'm showing here on the screen is this is the process where you can accomplish anything. So I kind of created this myself, but I'll just leave off with this, right? All of the things in society basically fall into two things, something that we have and don't want or something we want but don't have. That's kind of the impetus for sales in all respects. And this process of questions, answers, actions, results, and choices are the genesis of whatever that change is. So if you see something in society that you don't like, that's a result that I don't want anymore, I ask questions to figure out what are the potential solutions. I take an action to get the result, right? And same thing for the inverse, right? If I want something, what is required to get there? What actions are required to get there? What information do I need and what actions do I got to take, right? So I'm going to make a choice to do whatever that is. One of my core things is we got to get rid of Trudeau. That guy is destroying Canada. He's a bunch of... He's an idiot. We got to get rid of that guy. So that's kind of one of my main things for 2025 is that guy's got to go. And I'll just leave off with this, right? So if anybody wants to connect with me in any way, this is where you can connect with me. My Twitter is always open. You can connect with me on Facebook or just email me directly. Or you could reach out through the New World Precious Metals website and just request to talk to me if you want to because I work for New World as well. But the kind of the core thing that we talk about here is... And we thank you so much for this, Will. But the reason that we come on here continuously is that we want people to be better. A strong society requires strong citizens to be a part of it. Weak societies fall because the citizens get disconnected and disillusioned and depressed from the things that are happening in society. Don't do that. Don't get depressed. Don't get disconnected. Get more connected. Get more active and get more involved. That is the solution. Running away is not going to work. The stuff that I said about drones, they're going to hunt us down unless we have defenses against that shit. There is nowhere to run from this. There's nowhere you can hide. And if you do nothing, if we do nothing collectively, we lose, right? So this is where the rubber hits the road. So it's incumbent upon us as citizens that care about our future, our families, and our societies to do something about this. So... Yes. And I thank you, Bryce, because you've just given me a plug to mention something really important to our viewers. This past year, our organization started a new website called the Freedom Communities and Communications Network. You'll find it at freedomcoms.org. That's freedomcoms.org. It's 100% free. And what we're doing with it is we're building in-person communities across the country. So you can sign up in all of a minute, and then you can start talking to and meeting with other people who are in your area. And we've taken steps to protect your identity so that if the site was ever, say, hacked by our government, they have no way of finding out who you are. All right. Adrian, solutions. (1:38:28 - 1:44:43) Adrian All right. Before I do that, I just want to touch on two slides, and then I'll just go into solutions. So screen four. Okay. What happens in the collapse of a dollar? This is an example that I put together for is what happened with the Russian ruble during the ruble crisis. You see, the ruble was down a lot against the American dollar. It was down 70%. Gold was down slightly in US dollar terms at that point in late 1998, 75%. So you can see that with the collapse of the Russian ruble in US dollars, gold did not hold its value. So that's one thing. The other thing is, these are all the major, major stock market crashes that has happened. You've got the oil crisis, gold was up 68%, S&P down 48%. Black Monday, gold was up 5% and S&P down 34%. Dotcom bubble, gold was up 12%, 50% correction. The global financial crisis, you can see basically gold was totally negatively correlated to market crashes. So it is a safe haven against a significant crash. So if you're concerned about the Magnificent Seven dragging the market down, 20% of your portfolio, 30% might be a good offset against the market because you're going to protect your wealth. So that is basically just a plug for why precious metals is definitely important as portfolio insurance. That's what I recommend when I talk to my clients is using precious metals as portfolio insurance. Now, this chart here shows you, when I look at a portfolio, I look at de-risking a client's portfolio and try to maximize the total returns. If you have GICs, your average return is, let's say 4%. On an after-tax basis, you're only earning 2%. You can also invest in, if you need insurance, you can actually overfund your insurance and you receive dividends inside the policy. Average dividends are up between 5% and 6%, and that's tax-free growth. If you need the money, you can borrow it instead, but it's tax-free money. Gold, on average, long-term, 7.34%. Because it's a capital gain, you're earning 5%, way better than GICs. Multifamily residential real estate, rental property, returns between 8% and 9.8%. It's, again, very, very tax-efficient, 7.73%. A stock-bond portfolio, as you have your money in the S&P, stocks and bonds, 50%, 60% stocks, 40% bonds, your average return is going to be, long-term, 6.2%. On an after-tax basis, it's only 4.3%. Historically, your GICs and your stock-bond portfolios generate way lower returns. By protecting yourself with whole life insurance, as part of your portfolio, gold, rental real estate, you're actually protecting yourself against market fluctuations and you're getting better returns. Now, one of the things I do for my clients to de-risk their portfolios is I look at, and I work with a company called Newport Private Wealth, a private wealth management firm. They are a discretionary portfolio manager that, yes, they invest in stocks and bonds, but they're not representing and they're not invested in the Magnificent Seven. They are invested globally, as you saw in the previous charts. The biggest risk is in the Magnificent Seven and the US market. They're investing outside of North America, primarily, and they have about 40% of their portfolio within multifamily rental infrastructure and private debt. Those are the assets that are outperforming the stock market, and they offer a non-correlated position against the stock market. When I sit down with a client and talk about Newport Private Wealth, how they manage their money as their core holdings, then I recommend, and for them, depending on the size of their portfolio, 40% to 60% in the portfolio. Then I look at, you want to buy portfolio insurance. I'm talking to clients, depending on their comfort and how much they want to own, 20% to 40% in precious metals to offset any volatility within your portfolio. Some clients have gone 100% in precious metals, and that's their choice. I'm not stopping them from doing that. I'm a big advocate for putting money into precious metals. Private investments, alternative investments, such as private equity, private real estate infrastructure. Again, I talk about bookending a portfolio with portfolio insurance, and I talk about adding, in addition to the 40% that Newport has in their portfolio, I recommend clients buy more non-market related or alternative investments to bookend their portfolio with an asset that outperforms a traditional stock portfolio that generates between 9% and 12%, and is also negatively correlated to the stock market and the bond market, and is benefiting from the shortage in rental, and benefiting from this mass immigration that Trudeau has caused. That is two areas where you're offering portfolio protection with non-correlated assets. Then the fourth pillar, and I talk about four pillars. The fourth pillar is the cash value whole life insurance, where even if it's individual, you're able to earn that money tax-free, the cash inside it. You can stuff your whole life policy with dividend earning whole life policies that pay 5% or slightly more, depending on which carrier, and that's all tax-free growth. You can diversify away from the market and still do better on a net after-tax basis. That is what I do to de-risk my clients' portfolios. (1:44:44 - 1:46:02) All right. Now, we will have a link for people to be able to contact you and New World Precious Metals beneath this interview, but just before you finish up here, please tell people how they can contact you. Yeah. This is right here. That is my contact information. You can email me at Adrian at AdrianSpitters.com. You've got my phone numbers there. My website is AdrianSpitters.com. Okay. I should point out to people, even though you are in 604 area code, you serve people all across Canada. Right across Canada. I have clients from coast to coast. I'm licensed to do business everywhere. Warren, we're going to finish up with you talking about New World Precious Metals and how people can contact you and get their investments into that, but just before we do, viewers, I want to give you the very best endorsement I can for what Adrian and Warren have been talking about. That's Newport and New World Precious Metals. This past year, my wife and I transferred our entire portfolio into these two investments, and even though we dragged our butts doing it, we started talking about it early in the year. We only finally did it a couple of months ago. We've already seen an increase in our portfolio, so I'm not just bringing these experts on. My wife and I are putting our money where our mouth is, and we strongly believe in these investments, so that's the best endorsement I can give. Warren, please talk about New World Precious Metals, how people can contact you, and the process they're going to go through when they do. (1:46:04 - 1:47:01) Okay, so do you see the central bank thing here? Yes. And when you said they're real, I feel similar. Of course, I'm promoting this, but I'm also an investor too in gold and silver. I mean, we walk the talk, for sure. Okay, so quickly, I want to just hit home this part too, why you should consider doing this. So we talked about central banks buying record amounts of precious metals, right? This is what they're doing. And so we say, look, if they have more confidence in this than U.S. Treasuries, then maybe we should too. The thing about China and the opposition to the U.S. and the competition, they've got a gold exchange, and they opened it in 2002. They have silver too, they just call it the gold exchange. This is what's happening too. You've got to realize this, that the rest of the world is accumulating gold. And so this is a thing that could happen. (1:47:01 - 1:47:18) What this means is, and it's happened before in our history, where governments can revalue gold. So instead of right now at $2,700 U.S., maybe we wake up and the government says, hey, it's 10,000 U.S. per gold now, or 15,000. There's all kinds of predictions. (1:47:19 - 1:49:01) And why would they do that? Well, if you think about the central banks with all this debt in U.S. Treasuries, and now they're accumulating gold, which has been elevated to a tier one asset by the Bank of International Settlements. Well, what better way for them to get out of debt than revalue it? So I'm bringing this up because if you would have asked me this six months ago or a year, hey, what's the chances of a revaluation worldwide? I would say maybe, you know, so-so, maybe. Now I see it more as a possibility. Okay, so let's, and that was my finishing that part is that this is the no-brainer part of why you should do this. The central banks are doing it. Okay, so let's quickly go into this. So who are we? So we're a Calgary-based company, but we also have customers all around the world, actually, every province in Canada. And then also, I see that more and more now. One of our offerings is called an International Wholesale Bullion Account. And we have clients, a lot of Canadians moving to South America, actually, at least if not moving wholesale, moving to have a second passport and a place to go. I'm actually thinking about doing it myself. But so we've been in business 10 years at this location, well, eight years. The founder, Greg Mather, has been in precious metals for a long time, 30 years there. We have a newsletter that comes out every month now. Greg will put commentary in there. And I follow a lot of analysts in the space. Like I said, I live and breathe the stuff, but Greg's as good as they come. He really understands the gold and silver market. (1:49:03 - 1:49:39) Okay, so we are brokers. That's a distinction to be made here. We're brokers, which means, like if you go to buy car insurance, what do you do? You go to maybe a broker and they go and get you the best deal. And that's essentially what we're doing. We don't buy precious metals ourselves. We are brokers for two big entities in the world that supply precious metals, and then we can deliver to your home. One of the entities that we are a broker for is Precious Metals International. We're the fastest growing brokerage. We're also a broker for Questrade. (1:49:39 - 1:49:54) Questrade is Canada's biggest independent financial brokerage. They're number four or five behind the big banks in number of transactions. We have to follow anti-money laundering. (1:49:54 - 1:50:43) We have a compliance team as Precious Metals brokers. We adhere to FinTrack laws, and that's just good for the consumer. We're above board, as they say. We have a better business bureau standing. One thing to mention here, we're experts in precious metals, but we're not financial advisors. Adrian is a financial advisor with all his accreditations and years of experience. We are not that. We're careful about giving you financial advice, but we do know precious metals very well. Those are two partners. We do three things. We can deliver precious metals to your home. We can help you store physical precious metals in a Canadian registered account, such as an RRSP, a TFSA, a RIF, a LIF, a life income fund, all the Canadian registered accounts. (1:50:43 - 1:51:12) You can hold physical precious metals. That's our partnership with Questrade. The other partner with Precious Metals International, this is where you hold physical precious metals, fully insured by Lloyd's of London, audited in vaults around the world, and you can actually access those funds internationally. You can leave the country and sell some of your holdings. It's also very liquid. You mentioned that before, Will, that gold, you can take it down to an exchange. (1:51:13 - 1:51:58) Physically, most Canadian cities have an exchange. We have numerous ones here in Calgary, for example. With Precious Metals International, think of it as an international bank account that you can go outside the country and access, or within Canada, of course, but you're holding physical precious metals. We're brokers for Precious Metals International and Questrade. Here's our options, what we can do for you. We offer the International Wholesale Bullion Program. I believe this is the best overall value, wholesale pricing. I'm going to delve into it a little bit here at the very end, so I'll just graze by it. This is the other thing, as I mentioned, holding physical precious metals in a Canadian registered account. (1:51:58 - 1:52:20) We also help our American cousins or American brothers to hold physical precious metals in 401ks and IRAs. That's their registered accounts. Then, of course, we have home delivery. Home delivery is we deliver it to your door. It's fully insured. It comes in a discrete package. (1:52:21 - 1:52:26) We only deal with, now we say, new numismatics. That's collectibles. We don't deal in collectibles. (1:52:26 - 1:54:14) We deal with LBMA-approved mints and refineries. That's 59 mints and refineries around the world. That's a world standard. We recommend that's what you stay with, like the Canadian, Royal Canadian Mint, for example, or the US Mint or the Perth Mint. 99.9% pure bullion. Let's look at this wholesale program. I do this because I think it's the best overall value. Again, excellent liquidity. You can sell at any time. You can buy at any time. We're purchasing precious metals on the world market. There's flexibility. For example, I can do a buy for a client at 2 in the morning because it's open in the east at 2 in the morning our time. You can get delivery from this program. Let's say you invested in it. It was in the vault for a month. If you really want some in your hand, you can get it delivered. You can get it delivered outside the country as well. There's where their vaults is strategically placed around the world. You can look at your account online. I think that's what we would expect with any investment these days, right? The storage. I often get asked, what if the internet goes down? What if the government takes over the vaults or all these things? First off, these are UL level class 3, which means they have seismic detection. They have armed guards. They have offline storage. They have paper. They have backup for power and all kinds of things. Brinks is a well-known one. Brinks is a 100-year-old company. They are situated in most countries in the world now, major countries. They're one of the storage partners for this international wholesale account. (1:54:14 - 1:54:24) Now, this is something unique. You can borrow against your holdings at any time, up to 80%. Why do they do this? Because they have your physical metals as collateral in the vault. (1:54:24 - 1:54:29) If you want to borrow against it, no questions asked. It's not free. There's interest, of course. (1:54:30 - 1:54:39) A lot of our clients use that, the flexibility that offers. Here's what I like about it. Very transparent, very honest as far as this is the price. (1:54:39 - 1:54:56) 5% to 7% above spot price to buy it, 3% to 5% to sell it. If you looked at silver today, if we looked at, say, a big retailer in Canada, I did it just the other day, two days ago, silver was about 15% above the spot price. Because spot price is something dictated. (1:54:57 - 1:55:09) It comes out of London and to a lesser degree with silver in New York, and it comes out every day. But we can't buy physical precious metals at spot price. There's always a premium, but the premiums here are lower. (1:55:11 - 1:55:59) Their storage, it is 1.4% per year, and it includes insurance. It's fully insured. This is fully insured by Lloyds of London, the biggest insurance company in the world, 300-year history. They've been in Canada. Now, this is PMI. So if you think about this, if you went this route, you'd have a PMI account, New World Precious Metals are your broker. So your account is with PMI, in the wholesale program. They've been in Canada for 23 years. So we like this. It's not a new thing. They've got a long track record. It's outside the banks. We think that's a healthy thing to have some of your holdings outside the banks. We have a monthly newsletter. I mean, you get this with us no matter what other solution you, regardless of the solution, you get a monthly newsletter from us. (1:56:00 - 1:56:07) But overall, I believe this is a very safe, secure investment. It's physical. It's audited. (1:56:07 - 1:57:33) It's fully insured. And it has confidentiality. This is a Cayman Islands jurisdiction, Precious Metals International. You can look them up online, and they are located in the Cayman Islands. The Cayman Islands has the confidentiality and tax neutral laws, the same as Switzerland, for example. One statistic I heard the other day was the Cayman Islands has 70% of the world's hedge funds are domiciled at the Cayman Islands. So that is the solutions. And again, why now? It's what the central banks are doing. We know there's bank failures. I watched something yesterday, Adrian, about how precarious the banks really are. But it's been hush-tush lately. We've seen this in Canada, the convoy locking up bank accounts. We have bail-in legislation. We know central bank digital currencies are being worked on. Bryce talked a lot about this. This is coming. It's happening now. So this is another reason to get Precious Metals. This is the one that's really hard to sort of see. It's almost invisible, but where a currency is being worth less and less, stock markets overvalued, this industrial demand we talked about. So those are all the whys. And anyway, thank you for attending. I am available for speaking. Whether you buy anything from New World Precious Metals or not, I like to say, I like to shout this from the rooftops. (1:57:34 - 1:59:08) So if you just want me to come to your workplace or your school, or you want a one-on-one session, I'm happy to do it. Sure, we want you as a customer. But if you don't become a customer, for me, I want to educate. This is my way, you know, is to shout this from the rooftops. You can book a private session. And if you go to our website, New World Precious Metals, that's our homepage right there. This is how you would start clicking on that button. That's the international wholesale account that we talked about. And this button here is how you start with a registered account. Both of those take you about 15 minutes. You don't spend any money to open those. Of course, we don't want you to do it if you're not going to go ahead with it, but that's the start of it. But the best thing to do is contact us, first of all. So thank you very much, Will, for your time. I hope I didn't take too much of it. And yeah, thank you again. It's been great to be able to share this info. Okay. I can just get you to stop the screen share. And I just wanted to add one thing to what Warren has said, just for those of you who might not have caught it, let's be really clear through their partnership with Questrade, you can take your existing investments like RSPs, whatever, you can transfer them into Precious Metals without paying the tax penalty on it. So that can be done quite easily. Gentlemen, thank you so much for your time today and for keeping us all updated on what's happening. It's very common that I have to cut an interview a little bit short because a guest has another commitment. Well, today I do, as you guys know, I've got a lunch meeting in 15 minutes, so I've got to go. So once again, thank you so much for your time. And we'll do it again in three months when we do our first quarter update for next year. Okay, great. (1:59:08 - 1:59:09) Thank you, Will. Thank you, Will.