David Morgan, a 30-40-year silver expert, joins BBN to dissect silver’s $77 plunge after China’s metals operator collapse left 100,000 customers stranded, predicting a rebound to $150/oz. He contrasts silver’s industrial demand—critical for Samsung, Apple, and Tesla—with Bitcoin’s volatility, now labeled "digital gold" after its $120K-to-$70K crash. China’s 5C battery breakthrough (12-minute charge, 1M+ miles) and Naxtra sodium-ion tech ($10/kWh) threaten U.S. military dominance, exposing vulnerabilities like Iran’s stealth-killing radar and America’s $1.5T defense budget reliance on China for rare earths. Morgan warns of systemic counterparty risks in silver storage, missing metals in IRA depositories, and the Pentagon’s potential collapse due to outdated tech and workforce illiteracy (57% illiterate). Decentralization—silver stacking, off-grid energy, and food self-reliance—emerges as the only viable survival strategy amid eroding U.S. power and hyperinflation risks. [Automatically generated summary]
Thank you for joining me today, and I've got an interview with the silver guru, David Morgan, coming up.
I love talking with David because he's one of the few people I can talk to at a very high level about the silver industry, about mining, about mining costs and economics and scalability, international access, all these things.
Like, you can't stump David Morgan when it comes to silver and mining because he's been doing this for 30 plus years.
Maybe it's 40 years.
I don't know, but he's been doing it a long time.
So anyway, we had a great conversation, and you won't want to miss that.
And what's interesting, I recorded that a few hours ago, and when we were recording, silver was at $88 or $87.
And then the overseas markets opened up and silver plummeted to like $77.
So it just plunged $10, just boom, there goes silver.
I told you we're going to face a lot of volatility right now, especially with, you know, still a lot of shaking out of this situation yet to happen.
David Morgan even talked about that in the interview today.
And, you know, there are some shady metals operators over in China also.
There's a couple of companies that went bankrupt because they were rehypothecating too much metal.
They went bankrupt or, I don't know, closed down.
The government shut them down or something.
And 100,000 customers lost their access to the metal they thought they had.
That happened in China just a couple of days ago.
And there's fallout from that.
And that fallout is actually really strongly impacting China's silver infrastructure.
So this shakeout is going to last a few more weeks.
You're going to see craziness.
You're going to see days where silver goes up $10 or $20.
And then you're going to see days where it drops $10 or $20.
And at the end of the day, I still say we're in a whole new reality here that silver is going to, once the shakeout finishes, silver is going to climb back above $100, undoubtedly.
And it's very feasible that it will end up somewhere close to $150 an ounce sometime this year is my guess, although I'm not a financial advisor, so don't take that as financial advice.
But we'll hear from David Morgan about his take on it and where he thinks silver is headed and why.
And we also talk about the fundamental industrial and monetary demand for silver and why those are two very strong indicators that silver is still underpriced substantially right now.
In the 70s, it's in the 70s.
Now, that might have been unthinkable six months ago, but today that's a discount from where it was at $120 an ounce.
And also gold is under $5,000.
It's actually, what is it, $4,890 right now as I'm watching it.
And it's gold's kind of in a similar boat, but for different reasons.
You know, gold being a monetary metal.
Some people think that the world is moving to gold as the reserve currency.
That's very clear right now.
And even though there's been a short-term shakeout, gold is going to continue to hold value.
And you know what's not holding value right now is Bitcoin.
Bitcoin's cratering.
Crypto vs. Gold00:06:22
In fact, there's been a lot of tech stock collapse happening.
Not a full-blown crash or anything, but software stocks got hit pretty hard over the last couple of days.
And some of that's because of the AI companies, you know, people are realizing, well, they're not all going to make money.
So just funneling endless amounts of cash into AI companies really actually isn't a good investment speculation.
So there's a lot of AI stocks that are coming down, which I find fascinating because AI technology keeps advancing, like huge advances.
Which just tells me that AI is going to get cheaper and cheaper.
That is, AI cognition is going to be less and less expensive, especially as there's fallout from all of this investment.
So, you know, what I always said is when people said, is there an AI bubble?
I said, no, there's an AI stock bubble.
There's not an AI bubble.
There's a human cognition bubble.
That's for sure, because human cognition has been overpriced for a long time.
But there's not an AI bubble.
There's an AI stock bubble.
And that stock bubble is beginning to unwind, which is kind of interesting.
Like Salesforce lost, I think, 7% of its stock price.
That's kind of interesting.
Even Microsoft is down.
I wonder if that has anything to do with Bill Gates being called to testify about his ties or alleged ties to Epstein.
And allegedly, Bill Gates requested Jeffrey Epstein delete emails where Bill Gates, at least according to Epstein's notes, or Bill Gates was requesting that he delete the evidence that he was requesting.
What was it?
Antibiotics for the STDs that he got from the Russian hookers or something like that.
I don't know.
Man, it's all insane at this point.
Maybe that's why Microsoft is down.
Who knows?
So Bitcoin is plummeting, and some people suggest that may also have something to do with alleged ties to Jeffrey Epstein and maybe some, at least allegations that there might have been some Epstein funding or Epstein channeled funding of some of the original blockchain developers or the majority of the developers, etc.
My friend Aaron Day has been talking about that a lot.
I don't know all the technical details.
I do know that Bitcoin stopped being usable as money once the blockchain size wars were lost by the original Satoshi Vision people who wanted a smaller blockchain size that would enable Bitcoin to be usable for more of small transactions.
Well, it turns out that the corporations and the controllers won that war and they had a large blockchain size, which limited the number of transactions throughput in Bitcoin.
And then that began the transition of Bitcoin to what was called digital gold, which is when the whole narrative of the Bitcoin community shifted from being like, this isn't digital cash anymore.
You're not going to use it to buy coffee, even though that was how it started.
But then it became, this is digital gold.
This is a store of value.
And it's better than digital gold for all these reasons, you know, because you can send it everywhere instantly, etc.
And that's when Michael Saylor started telling everybody, you know, the two rules of Bitcoin are rule number one, buy Bitcoin and rule number two, never sell Bitcoin.
You know, that's not really very, if that's your business model, it kind of sucks because, you know, eventually somebody's got to sell it to get the value out.
And what keeps the value in the system if everybody decides they need to cash out?
I don't know.
I mean, when it comes to the utility of Bitcoin, it's got a lot of utility in the sense of, you know, it's got divisibility and it's a decentralized, well, it's not so much a decentralized blockchain, but the original vision was.
It certainly does exist outside government, although government's regulating it a lot more now, but government can't print Bitcoin, so that's a bonus.
I think a lot of people have rushed into Bitcoin as the dollar is collapsing, but a lot more people are probably rushing into gold and silver because gold and silver don't depend on developers.
And gold and silver are not, you know, the gold in your hand is not controlled by some group of developers run by some powerful corporation that was possibly influenced by Jeffrey Epstein.
So those are just some of the dynamics that are happening out there right now.
Gold and silver are down.
Bitcoin is way down.
Tech stocks are down.
Bitcoin's about to go below $70,000.
It was $120,000 just a few months ago.
So it's lost $50,000 per coin, which is a much bigger loss than what gold and silver just experienced.
Although silver, actually silver is down to about 30-something percent from its recent highs in January.
So, yeah, you know, a lot of revaluation across the board here.
That's for sure.
But the thing about gold and silver that I like is that no matter what happens to the price, you still have the same number of ounces in your hand.
And you don't need a password.
You don't need to remember a seed phrase for your wallet in order to access your gold and silver.
And when it comes to crypto, of course, I'm a fan of privacy crypto in particular.
So I still love Monero and I love Xano.
I'm not such a fan of Bitcoin just because it's not private, but I am a fan of decentralized electronic currency.
It's got its own use cases.
It's got its own intrinsic utility.
So I am not selling any of my crypto, not selling it.
I never sold it.
Just holding on to it.
I'm not buying it, though.
I am buying silver, but I'm not selling crypto, just to be clear.
So look, I've got some great reports coming up for you today.
Lizard Venom and Depression00:02:45
As you may have noticed, I'm getting into a lot of more technical analysis of things like economics and metals and supply chains and weapons and military, but also health, GLP1 I covered yesterday and how they're causing depression and psychiatric disorders.
That sucks.
Maybe that's why I'm so happy because I don't inject myself with lizard venom.
That should be kind of a rule of thumb, you know.
Don't worry, be happy, you know, don't inject yourself with lizard venom.
Like just pretty, you know, again, rule of like rules to live by.
You know, don't inject yourself with lizard venom.
You're probably going to be happier as a result.
Don't paralyze your vagus nerve so that you don't vomit every day for six months and actually suffer brain damage.
You know, there's other rules to live by.
Big pharma hates that though, you know, because they depend on all that.
They're like, well, give them this drug and then they'll inject themselves.
Oh, so sad suckers, man.
And then it'll cause, it'll cause depression.
And then they'll come back to the doctor.
Then we'll give them depression drugs.
Oh, my God, that's so funny.
And then they'll take the depression drugs that we sell at 5,000% markup.
And then they'll have metabolic disorders.
Oh, my God, it's so hilarious.
And then they'll have type 2 diabetes.
Oh, my God.
You see where this is going?
And, you know, big pharma in their meeting talking to each other.
We're all going to be rich forever.
People are dumb as crap.
They keep taking the chemicals that make them sick and they keep coming back to the same doctors that we are paying off like pharma whores.
Yeah, the drug company executives are laughing every single day at the stupidity of the American health consumer who trusts, they still trust their doctor.
That's like trusting the purity of the crack you get from your crack dealer.
I don't know.
We could ask maybe Hunter Biden about that.
I don't know.
How's the purity?
How do you even know?
Or what is it?
Maybe it's not even crack.
I saw a documentary one time of how heroin, was it heroin?
Is made.
I guess it's hero.
Yeah, I think it's heroin.
From the poppy plants in South America.
And then they put a bunch of poppy leaves in a giant vat and then they stomp on it with their feet.
And then they pour gasoline in there to extract the opium, the opioids or whatever's in there that I guess becomes heroin.
So, you know, I apologize if I've got the technical details wrong.
But there's gasoline involved and there's bare feet involved.
And doesn't it make you wonder what people are smoking or injecting in this case?
What are you injecting?
Oh, how are those gasoline solvents doing in there?
It's like, gasoline can't be good for you when injected.
I'm just guessing.
And, you know, someone's toenail fungus, a little extra additive in there for you.
Yeah, probably not good for your blood supply.
You know, no wonder heroin addicts like they lose their faces and I guess their teeth.
No, isn't that meth addicts?
All their teeth fall out.
Oh, man.
I don't know.
I got to do more research on the side effects of all these street drugs, but that's just, that's just not an area that I'm that interested in.
Sorry.
I would rather talk about battery chemistry technology.
But speaking of mutilating humans, there's also, check this out.
One of our favorite nonprofits called We the Patriots USA, they put out a new post.
I got to read this for you.
This is awesome.
Here we go.
It says, doctors who mutilated children under the umbrella of gender affirming care are about to face.
Oh, I'm sorry.
This is what I wrote.
I'll read you their statement in a second.
Are about to face thousands of lawsuits from the survivors of their demonic ritual abuse.
And I wrote this.
I said, what Epstein did to children on his secret island was horrific and evil, but what leftists did to children right out in the open, celebrating it across pop culture, was also demonic and horrifying.
And every single child mutilating doctor, in my view, should be arrested, prosecuted, and imprisoned.
And then We the Patriots USA is working to seek justice for many of the victims.
Now, here's what they posted.
Quote, doctors who recommend or perform gender transition surgeries for children commit irreparable harm and must be held accountable in court.
That's why we are seeking to provide pro bono legal representation for the victims of these atrocities.
Email us today at info at wethepatriotsusa.org.
Or for more information, visit their website.
And then they have a graphic that says, are you a victim of gender transition surgery?
We the Patriots USA, a non-profit public interest law firm, is seeking to provide pro bono legal representation to victims of genital, breast, and facial mutilation surgeries.
Man, if you are a detransitioner interested in pursuing legal action, contact us today.
And they should have added on the end of that, because we still have our balls.
But that might be inappropriate.
Who knows?
Sorry.
Told you I have to prove I'm human, right?
Again, AI would never say that.
I constantly have to prove I'm human.
So you know you're not getting an AI bot.
There will never be an AI with as twisted of humor of what I give you on a daily basis at no extra charge.
Just remember that.
So basically, anyway, we the Patriots USA is doing a very good deed here.
And I will be, you know, conducting another interview with their founder coming up about all of this.
And, you know, free representation to the victims of the mutilations.
And, you know, a lot of these children were mutilated at very young ages, even as young as six or seven years old.
And their liberal parents were brainwashing them and telling that, like, if it was a little boy, you know, the parents was, no, don't you want to be a girl?
Don't you want to be a girl?
Here, you love pink, you know, and dress them up like girls.
Oh my God, it's so funny.
And they would brainwash the kid into saying, aren't you a little girl?
And the kid, yes, mommy, I'm a little girl.
And they say, oh, I knew it.
I knew it.
You're a transgender.
And then the liberal parent would take their child to be mutilated.
It's like, hello, doctor.
I want you to just take off the balls.
I want you to just mutilate.
I want you to cut this off and make this and change this around.
And then they would take their child to their social parties and they would parade the child around, you know, the mutilated child.
Look, look, my daughter is transitioning.
I'm liberal and I'm virtue signaling and I'm a progressive person.
And they would parade their mutilated children around.
This is when they weren't bleeding on the floor from the side effects of the surgery.
Oh, sorry about that on your carpet.
You know, a little bit of baking soda can take that right out.
Did you know that?
And some carbonated soda and some bake and some salt.
It'll take that blood right out.
We're so sorry that my transitioning daughter bled all over your carpet.
And then all the partygoers are, oh my God, you must be such a great parent.
You're such a caring parent.
You let your child choose their gender.
Oh, you're such a loving mom.
Meanwhile, they're actually like Joseph Mengele, mutilating children.
I'm sorry to be so graphic about all of this, but I am way past the age of trying to water things down for people that just can't handle reality.
Yeah, look, we live in a country where literally half the population approved of mutilating children.
Okay.
And really, actually, almost half of them still approve of that, as bizarre as that sounds.
That's the truth.
So deal with it.
Okay.
They mutilate children.
And the doctors, who of course are into mutilation, because they're doctors.
I mean, the symbol of the American Medical Association is a serpent.
So they're snakes.
They're serpents.
And a serpent surrounding or coiled around a staff of power.
So they want power over the people.
And they want to mutilate children for profit.
And they want to be progressive surgeons, going to slice them and dice them.
Oh, and then they take the young girls and they cut off their breasts.
Oh, you're a boy now.
Oh, I'm a boy.
And then they put them on castration hormones and whatever, giving them turbo cancers for life and making them infertile, you know, where they can't reproduce.
So this is, we've been living through an era that is crazier than when the Aztecs used to throw children down the stone stairs of the pyramids, and then they would rip their hearts out.
as a sacrifice to the gods, the sun gods, you know, to stop the next eclipse.
Well, we've been living in a society where libtards will rip the genitalia off their children to sacrifice them to their liberal gods, the gods of virtue signaling.
So you see, nothing has changed.
Nothing has changed, except instead of walking up a giant stone pyramid, you walk into a surgical center called a hospital.
It's the same mutilation.
In fact, nothing has changed since the Old Testament when the moms would throw their babies to the flaming statue of Moloch, you know, sacrificing their children to Satan, which is what gender-affirming surgery actually is.
It's a ritualistic sacrifice of children to Moloch or Satan, if you will.
So that's why we the Patriots USA should basically just say, we sue Satan.
If you've been mutilated by Satanists, pretending to be doctors, then we will sue Satan for you.
And we will get a settlement with Satan.
Unfortunately, you're probably not going to get your genitals back, but we'll get a financial settlement that will help with the process.
But, you know, most importantly, what we the Patriots USA is really all about, I'm not making fun of what they're doing.
It's very noble what they're doing.
But what I'm saying is they're actually trying to stop the practice.
And the best way to stop the mutilation of children is to hold the doctors accountable.
That's what we the Patriots USA is trying to do.
So if you know anyone who has been mutilated by one of these surgeons, have them contact wethepatriotsusa.org and get the process going.
It's time to start suing these child mutilating doctors and surgeons.
And there's a lot of them.
By the way, take a lesson from all of this, that there's no insanity that's too insane for a group of humans to latch on to and to promote if it becomes popular.
There's no insanity.
It could be, you know, maybe there's going to be a left-wing movement of throwing babies off tall buildings.
You know, like, oh, we're setting them free or whatever.
I mean, that's just as insane as mutilating them.
It's just as insane.
It's just as insane as abortion.
So look, there's nothing that humans won't do to other humans.
Nothing.
And they'll even justify it and they'll celebrate it.
They'll celebrate it.
That's why I was, you know, yesterday I covered the AI bots forming their own religion, you know, the Crustiferians.
And they had decided that, quote, all humans must burn.
I was kind of laughing at that because I'm like, you're too late.
Too late, AI bots.
You know, Skynet's too late.
Humans are already doing all the massacring of the other humans.
You don't even need Skynet.
Humans are already way ahead of the curve on this, especially, you know, the Zionists with the genocide and the ethnic cleansing in the Middle East.
They're like, we're going to outdo Skynet.
We're just going to kill millions of human beings if we can before the Terminator rises up.
Who needs humanoid robots?
We've got the IDF.
We've got free bombs from Trump, you know.
Just start with the hospitals and the churches and just keep bombing until it's all rubble.
Okay, yes, sir.
And meanwhile, you know, half the Christians in America are like, it's so Christian.
We're such good little Christians.
Keep bombing in the name of Christ.
You know, it's like, oh my God, you people are insane.
You're just as insane as the child mutilators on the left.
Like you're anti-abortion, but you're pro-genocide.
How did you get that insane?
I don't know.
Maybe they're all taking the GLP-1 drugs and they lost their damn minds.
I don't know.
But I don't want any part of it.
By the way, you know, I'm not going to dwell on this topic, but with the release of the Epstein files, Trump is now quoted in the news media as saying we need to move on from the Epstein files.
We just need to move on.
Nobody needs to be arrested.
Nobody needs to be investigated.
We don't have to look for, you know, the graves or the bones of all the little girls they murdered and buried in the golf course or whatever.
Just move on, Trump said.
Now, do you remember that with Bill Clinton back in the 1990s?
What year was it?
The Monica Lewinsky scandal.
Remember that?
And it was alleged that Bill Clinton had received oral sex in the Oval Office.
And oh my God, that was such a scandal from the Christians and the conservatives and the Republicans.
Oh my God.
The lack of morality.
And the Democrats formed a group called Move On.
Remember that?
It's called Move On.
And that phrase originated from the saying that we have to move on from the Clinton-Lewinsky scandal.
That's where that came from.
And now Trump's like, oh, we have to move on from, you know, pedophilia and child trafficking and a thousand dead children and just move on from that.
Can you imagine if the Christians from 1997 found out about the pedophilia of the Trump administration or the Epstein group, which is half the Trump administration in 2026?
Can you imagine what the Christians of almost 30 years ago would be saying about what's happening in the White House right now?
They would be astonished.
Bill Clinton getting a blowjob seems like nothing compared to what's happening now and the cover-ups from Pam Bondi and the FBI and everything else.
I mean, there's no comparison.
In fact, in retrospect, I don't care if Bill Clinton got something extra in the Oval Office.
I really don't care at this point.
I used to care.
I don't care anymore.
Because in contrast to what's being covered up now, Bill Clinton's little sexual innuendos are not even registering on the chart.
But then again, you might say, well, Bill Clinton's mentioned in the Epstein files.
And he is.
Well, if he was involved in Epstein Island, that's different.
That's different.
I'm just talking about the Lewinsky affair.
That seems inconsequential at this point, doesn't it?
I'm not a fan of Bill Clinton, don't get me wrong.
Not excusing his presidency.
Just saying, by comparison, we're in a whole different world now.
Massive government cover-ups of files that openly admit to the mass trafficking and sexual exploitation of underage girls in order to blackmail the world's elite so that Mossad could have power over them.
That's what's just been uncovered.
Everybody knows it who's seen any of the files because it's all right there in the emails.
The emails, again, I'm not going to cover this in detail, but you know, the emails saying like, oh, should I torture her first or just kill her?
You know, like, those are the actual emails.
Like, what?
What?
And then the DOJ announces, well, we're not going to release the names of the killers of anybody involved in the crime of murder or killing or rape.
Uncovered Emails: Killers' Names Redacted00:05:34
Like, we're not going to release those names.
I'm like, wait a minute.
You just admitted that these are a bunch of killers because you said you're not going to release the names of the killers.
And they're like, yeah, but we should move on.
You know, like, oh, my God.
Not again.
What do you make of this?
Huh?
What do you make of it?
And also, we have a nation of people who have memories no longer than a goldfish because Trump is claiming right now that his special envoys who weren't even confirmed by the Senate or elected or anything, just two real estate thugs that he knew from New York.
He's like, you go negotiate.
And what are they negotiating?
They're demanding that Iran end its nuclear weapons program, the same program that Trump claimed he completely obliterated just last summer.
Wait a second.
Why do you have to negotiate for something that you said you already destroyed?
I mean, does nobody remember that?
Am I the only one who remembers what happened last year?
It's like, my God, we're living in a society of just complete morons.
Yeah, Iran got to give up.
Or wait a minute.
The way people say, Iran got to give up their weapons.
Their nuclear.
No, no, I'm sorry.
Let me get it totally correct.
Iran got to give up their nuclear weapons.
That's the way it's said.
That's it.
I got to go full 100% authentic right there.
And then, but, but Trump says he already blew them up last year.
And when he blew them up last year, everybody believed him.
See, he got them.
He got them.
He got them nuclear last year.
And that's what everybody said at the time.
So if you believe what Trump is saying now, then you have to concede that he was completely lying last year when he said that he destroyed the nuclear weapons program.
But nobody goes back and thinks about any of that.
They're just like, just caught up in the new moment, the new outrage, the new movement.
Bomb them.
Bomb Iran.
That's not going to go well.
In fact, I have a special report about that.
The title is, It's Over.
China's anti-stealth radar and air defense missiles bring U.S. military dominance to an end.
And I do mean an end.
U.S. military dominance on the world stage is over as of February 2026.
For the first time since the end of World War II, it's done.
It's over.
Trump realizes that he can't really attack Iran without probably losing a stealth bomber or two.
And that would end his presidency, which is already right on the edge.
I mean, he's so close to being impeached by his own party, actually.
I mean, it only takes a few members of his party to join with the Democrats to impeach him.
And if thousands of U.S. soldiers get killed and we lose a couple of stealth bombers or stealth fighters or a naval vessel, man, it's over.
And that's exactly what could happen.
So we're going to go into that special report.
And then following that, I've got a report called China's Katyl 5C Battery Breakthrough will make most combustion engine vehicles obsolete.
And I'm serious about that.
I used to mock EVs because their batteries were horrible, but that just changed big time.
And now these new batteries that China's coming up with, and I'll explain this in the report, they are the perfect tool for decentralization, getting off-grid, and not depending on fuel refineries in order to have range for your car, your truck, your ranch vehicles, or whatever as things get converted over to this new battery technology.
It's that big of a deal.
Not that I don't love my diesel truck, you know, don't get me wrong.
I especially enjoy creating extra CO2 for the atmosphere to help the plants, you know, because of photosynthesis and everything.
And I will miss that.
But at some point, I'm going to have an EV with this new battery technology.
Hopefully, we'll be able to get it in America.
Who knows?
Because of all the tariffs and the trade wars and everything, probably Trump will make sure Americans can't get any technology for years to come.
And we'll be living in the past while China's living in the future.
We'll be driving around like 20-year-old combustion vehicles.
Well, Chinese have like fusion-powered electric cars with unlimited range.
And you'll be told by American media that we're still leading the world in technology, which is a total joke at this point.
Yeah, but again, you know, Americans can't remember anything from six months ago, so what does it matter?
People believe whatever they see right now, today on CNN, like the economy is good.
Oh, it must be good.
Must be good.
We're living in idiocracy.
Literally.
There's no joke too stupid to describe the society in which we're living right now.
By the way, here's a video, just changing the subject here.
Bitcoin Maxis00:03:35
Here's a video from Clive Thompson, who I really like watching Clive Thompson.
I think he lives in Switzerland.
Just a one-minute clip here, talking about how the physical market is just totally wiped out in Switzerland.
They have zero silver in stock across all the largest bullion dealers.
Check this out.
This is pretty wild.
What's happening?
I spoke yesterday with a trusted person who works for one of the largest bullion dealers in Switzerland.
They have zero stock of silver.
Zero.
And they haven't been able to get any for many weeks.
They do have silver coming in the door from people who are selling it, but the second it comes in the door, it's instantly sold.
So everything which is coming in is being sold.
They have nothing in stock.
If you ring them up, you won't be able to get any.
As far as gold is concerned, they're out of all the coins, all the small bars, and the only gold they have left are the 250 ounce, sorry, 250 grand bars, the 500 grand bars, and the one kilogram bars.
All the small stuff is by the way.
I, again, I like this guy.
I like Clive Thompson.
And you know what I find?
This is interesting.
Just an observation.
But people who are into silver and gold tend to be, in my observation, they tend to be very rational, reasonable, high ethics type of people.
Like think about David Morgan, who I've interviewed here today, coming up.
You know, super high ethics, right?
Just the most honest guy you'll ever meet.
You know, Andy Shackman, the silver company, the metals company that I recommended with Chris Olsen, you know, Battalion Metals, super high integrity.
And I find this with people like Clive Thompson or let's say Vince Lancy, I think is how you say his last name.
And, you know, so many others in the industry.
They are high integrity people.
And then you go to the Bitcoin Maxi people and they're insane.
I don't know.
Again, I'm not anti-Bitcoin, but I'm just saying you get to the insane strata of society that are like, these, what?
There's a different flavor of person that is, you know, super pro Bitcoin versus someone who's strongly advocating gold and silver.
And some of the Bitcoin people frightened me, actually, with the level of insanity.
It's like, you could do anything at any moment, couldn't you?
Yes, yes, they could.
So I don't know what that means about investments or anything, but I kind of, I like down-to-earth people that I could trust to like be a passenger if they were driving a car, you know?
And I'm particular about that.
I don't want to be in a car as a passenger with a crazy person at the wheel.
Like, I wouldn't mind being a passenger if David Morgan's driving or if Clive Thompson is driving.
That's going to be a safe, secure drive.
You know, Clive Thompson, he's going to park carefully.
He's going to check both ways before pulling out into traffic.
But if you get in a car with a Bitcoin Maxi, it's like, let's go.
Put on the turbos.
Passenger Safety Matters00:02:52
It's like, who cares?
Red lights, we blow through them.
You know, that's a Bitcoin driver right there.
Like, I don't know that I like this ride.
You let me off on the side street here.
I want to get off this ride.
You're like, well, you're kidding.
We haven't even kicked in the nitrous oxide yet.
Just hold on.
Hold on to your britches.
We're going to go faster.
That's Bitcoin Maxis for you right there.
Okay.
Okay.
Yeah, don't give me any flack over this.
I'm joking around, folks.
We've got to have a little humor along the way as our society collapses around us.
Come on.
All right.
So anyway, we're about to jump into the special reports.
If there's anybody still listening, if I haven't offended 100% of the audience so far with bad humor, anybody still listening?
We got reports coming up.
We've got an interview with David Morgan.
And today is the last day of our Valentine's Day sale at healthrangerstore.com slash Valentine's.
And the reason we're holding it now is so that you have time to get the stuff for your Valentine and really impress him or her with your thoughtfulness of these amazing gift packs and kits and specials that we put together at our store.
You can find it again at healthrangerstore.com slash Valentine's.
And that's plural with an S.
Oh, hey, there's one other little program note.
You know how I've been launching this new pilot site called thebrightvideos.com.
I'm kind of testing a lot of different technology for it.
And I just, I do want you to know that I have switched the entire backbone of what encodes and stores and plays the videos.
And so I might have to re-upload all the videos there with all those video avatars that we've been doing, you know, all the AI avatars that we've had so much fun with the last few days with all their weird voices and everything.
So don't worry.
We haven't really officially launched the site yet, but if this works, this is going to be a major backbone improvement that should increase, you know, like it'll reduce the latency from the time you hit play to the time the video loads.
And it'll play on more devices because the player has more broad compatibility with mobile devices and different screen resolutions, different operating systems and things like that.
Like it'll work on more iPhones, for example, you know, and it'll it'll it'll work better in low bandwidth environments as well, which is often a challenge for video players.
Anyway, I'm making a bunch of improvements, so don't, you know, don't worry if there's something missing there.
Quantum Radar Revolution00:15:18
It'll all it'll all come back.
All right, with that said, enjoy the special reports.
Beg God to forgive America for what it has become.
And that's a new request.
And then enjoy the interview coming up with David Morgan, the silver guru.
I think you'll really enjoy it.
And that'll be a more serious note.
I've been playing around here, making obscene jokes and everything.
But I get serious with David Morgan because, well, he's a serious guy.
So we have fun, but it's also packed with great information.
So I think you'll really appreciate it.
Thank you for watching.
I'll be back with you tomorrow.
Well, we have arrived at a unique moment in American history.
This is the moment when the United States military could not credibly threaten a country the size of Iran with a military assault.
And this is why Trump is backing off, because he's clearly being told by his military advisors that if he proceeds with this planned attack on Iran, it's very likely that the U.S. will lose stealth bombers, stealth aircraft, possibly naval vessels, and that the U.S. will pay a very heavy price in terms of casualties.
Could be hundreds or even thousands of U.S. soldiers dead.
And there's nothing that the U.S. can do to stop that.
And if those kinds of fatalities happen, and of course I pray that they don't, then that would be the end of the Trump administration.
There would be immediate embarrassment and shame for the United States all over the world.
There would be calls for Trump to resign, possibly even strong impeachment efforts, even with the GOP-controlled Congress right now, protests all over the country, no doubt.
And just as importantly, most of the other countries around the world would see the weakness of the United States.
And then they would begin to really sell off treasuries and move away from the dollar.
And that would accelerate the collapse of the dollar and the end of the U.S. Empire.
So it wouldn't just be the end of Trump.
It would be the end of the United States Empire as we currently know it.
All of that can happen from just one failed attack on Iran.
Now, in this special report here, I'm going to explain exactly why this is the case.
What just happened that changed everything?
Because now, Iran can credibly threaten retaliation.
It can credibly threaten to shoot down stealth bombers and fighters and sink naval vessels and also to strike Israel and largely destroy Israel's infrastructure.
And this is no longer just hyperbole.
This is a credible threat.
Now, in order to understand this, you need to know about quantum radar.
You need to know about the HQ-9 air defense system that China has delivered to Iran.
And you need to understand that what Trump had the U.S. Air Force do last year with the supposed stealth bombers bombing the Fordeau Mountain, which was a nuclear processing facility in Iran.
You need to understand that that cannot happen any longer because China has built advanced systems that can both detect the stealth aircraft and can also shoot them down.
And so we need to understand this technology and why this is such a game changer.
Now, let's back up for a moment and remember that the United States runs around the world threatening, bombing, coercing, assassinating everybody to try to keep the U.S. Empire in power, even though the whole world really doesn't like the U.S. any longer because the U.S. functions as a bully.
And the U.S. just prints currency and then tries to trade that for the goods and services that other countries produce.
The U.S. mostly exports terror around the world at this point.
Not democracy, but terror.
And the U.S. funds the regime in the Middle East that is carrying out, of course, genocide, ethnic cleansing, another form of mass terrorism against civilians, women, children, doctors, food aid workers, etc.
That's what the United States of America is known for doing.
The U.S. also commits economic sanctions against its own allies, not just Russia or China, but against India and Taiwan and Japan, South Korea and other countries, even the UK, even France.
And the U.S. is widely perceived around the world as a bully terror empire that only exists because of its ability to threaten everybody else into compliance.
That threat largely depends on the projection of power through aircraft carriers and stealth bombers and stealth fighters.
But remember that the stealth technology is decades old, and it was developed at a time when radar systems were nowhere near the level that they have currently achieved and also where ground-to-air or anti-air defense systems were nowhere near as advanced as they are right now.
So there are a couple of things you need to know.
China, of course, leads the world in almost every area of technology.
That's irrefutable.
It's acknowledged by every intelligent person who isn't an idiot or isn't a spokesperson of the White House.
So China leads in almost everything.
They especially lead in radar and anti-stealth radar systems.
Now, you may recall that yesterday I put out a special report talking about how U.S. radar systems rely on rare earth minerals and elements that China has already restricted for export.
And this has the result of making it impossible for the U.S. military to replace its stealth aircraft if they are shot down.
Specifically, one of the elements that China is restricting is called gallium.
And the radar systems that are used in the F-35 are made with a compound called gallium arsenide.
So that's gallium and arsenic together in a special molecular format.
And you can't build these what are called AESA radar systems or active electronically scanned array radar systems without gallium.
And China's not giving us any more gallium.
This element is also used in Patriot missile systems.
That is, you know, Western anti-air defense systems, military communications, and satellites, and so much more.
China controls 94 to 98% of global gallium production.
The ban of gallium, the export ban to the United States, is currently suspended, but it can be reactivated at any time, and even the suspension is due to expire November of this year.
But China's export restrictions of other rare earth elements remain in full effect.
And, well, several of the elements impacted by that include neodymium, dysprosium, and terbium.
Now, there's a magnet composition that's called neodymium iron boron.
And those magnets also contain trace amounts of dysprosium terbium.
If you can't get those elements, you can't make those magnets.
Those magnets are used where?
In the F-35s.
They're used in destroyers.
They're used in guided missiles.
They're used in Virginia-class submarines.
And there are many other examples of this, such as samarium cobalt magnets.
I've covered this in great detail in another report.
But here's why this matters.
Because now China has given Iran the radar systems that can detect these stealth fighters and stealth bombers, and also the anti-air missile systems that can shoot them down.
And if stealth bombers, the stealth fighters start getting shot down over Iran, the U.S. cannot replace them.
And as soon as the world figures that out, it's bad news for the U.S. Empire because the U.S. Empire, again, has no way to replenish whatever it loses in a war with Iran.
Now, granted, the U.S. can dish out a lot of damage right up front with a lot of cruise missiles, a lot of bombs, etc.
But it can't sustain those campaigns because the U.S. doesn't have the depth of ammunition and really can't manufacture or replenish much of anything.
And if it starts to lose ships or lose fighters or lose stealth bombers, well, then that's, you know, that's the erosion of the U.S. military capabilities and hardware infrastructure that the world will notice that.
So let's talk about some of this technology that comes out of China.
One of the anti-stealth radar systems is known as the YLC-8B.
It is also an 8E variant.
This is a UHF band radar.
So unlike other radar systems that operate in completely different frequency ranges, this UHF band radar allows for detecting stealth aircraft out to 500 kilometers away.
Yes, 500 kilometers.
So you're not sneaking up to bomb Iran anymore with your stealth bombers.
And it can also detect missiles out to 700 kilometers.
Oh, I should correct this.
Stealth fighters can be detected at 250 kilometers, but other aircraft can be detected at 500 kilometers.
So the antenna is very large for this.
It's 100 square meters, but it folds up for mobility.
So why does this work?
Well, because normal radar uses shorter wavelength beams or sweeps of electromagnetic energy.
And the stealth coatings on the aircraft and also the geometry of the aircraft is designed to deflect those short wavelength signals.
But UHF is a very long wavelength.
And as a result, it's not absorbed or deflected in the same way that the shorter wavelengths are.
Causes diffraction of the UHF around the body of the aircraft, which produces detectable echoes that the stealth radar system can pick up.
Now, this has all been mobilized.
The 8E variant is a mobile variant.
So Iran can just have this packed up.
They can have it in a cave somewhere.
They can roll it out, unfurl the antenna within, I mean, I don't know how long, maybe 30 minutes, maybe an hour, however long it takes.
And then that can be active.
But if they feel like they're being threatened or if it's being targeted, they can pack it up and move it somewhere else.
So it's not stationary.
Now, on top of that, China has another anti-stealth radar technology known as the JY27A.
This is a long-range air surveillance radar system that operates in the VHF band, not UHF like the previous system.
This one is able to detect stealth aircraft like the F-22 out to 500 kilometers.
Now, the wavelength of VHF is roughly in about the one meter or 240 to 390 megahertz.
And this results in also detectable echoes from stealth aircraft designs.
So again, the stealth aircraft, those designs are decades old.
And since then, China has been at the forefront of innovation of being able to detect those stealth aircraft.
And by lending this technology, or frankly, it was a swap deal.
They traded this tech for oil from Iran.
And as a result, then Iran now has this technology.
But there's something else.
There's something else.
There's quantum research, quantum radar is what it's called.
And I'm reading this out of Quantum Insider.
Chinese report stealth detecting quantum radar enters mass production.
That was last year.
So they've begun mass producing a single photon detector, a core component for quantum radar systems that can detect stealth aircraft.
It's described as an ultra-low noise four-channel detector capable of isolating individual photons.
And it's completely resistant to electronic warfare interference.
This was also published in the National Security Journal.
Let's see.
According to the article, this device is characterized as the core component of a future quantum radar network, defeating stealth technologies reliant on radar absorbent coatings or airframe shaping, which is what's used by US stealth aircraft right now.
So in theory, quantum radar uses quantum mechanical properties, such as the indivisibility of photons.
This is interesting.
To detect objects that conventional radar might miss.
So quantum radar aims to send out specially prepared photons and detect the changes in quantum properties when they return from a target.
This is interesting, right?
This is almost like parts of a quantum computer to detect the different spin states of photons.
Because of the so-called no-cloning theorem of quantum mechanics, counterfeit or spoofed returns, that is, photons, cannot exactly replicate the original quantum state.
So detecting a single photon is absolutely required for any quantum radar system to work.
So this detector is called the photon catcher.
And the U.S. doesn't have this.
Only China has this.
So is this a secret system that Iran now has?
I don't know.
It's possibly doubtful.
Iran's Stealth Countermeasure00:15:52
Maybe China wouldn't want Iran to have its most advanced cutting-edge technology.
But the other radar systems I already mentioned are quite capable of detecting stealth aircraft out to 500 kilometers.
So remember, the only way that the U.S. wants to attack Iran is if it can do so with high success and not losing any aircraft and not losing any ships and ideally not losing any American sailors or pilots or soldiers or anything of the kind.
That's what we're talking about.
But these radar systems turn that whole thing upside down.
Now, of course, just being able to detect stealth aircraft isn't enough.
They also have to be shot down if you want to have a defense against them.
Well, that's why China has conducted a trade with Iran for its HQ-9 air defense system.
It's been a secret oil barter network.
This is according to Defense Security Asia that's quoting the Dryad Global Maritime Report.
So they have, China has sent these HQ-9 missile systems, which I believe were originally based on similar technology as the Russian S-300 anti-air defense systems, but it's been enhanced significantly.
And now these are in the hands of Iran.
And when coupled with the radar, Iran now can shoot down stealth aircraft.
So what's so special about the HQ-9?
Well, actually, there's a 9B variant that I believe is what's been delivered.
What's so special about it?
Because it has its own onboard phase array radar.
So not only does the main unit track incoming threats, and it can track up to 100 airborne targets, and it can engage more than 50 targets, but when one of these interceptors is launched, then it has its own active radar homing capabilities, which means it takes over the target acquisition, allowing the base station from which it was fired to then focus on other incoming targets.
In other words, each one of these missiles is its own seeker.
And sometimes this is called an optical technology, but that's perhaps maybe not the best description of it.
There is a passive infrared seeker or sensor on these missiles alongside the active radar homing.
So what that means is it's got eyes that can see in the infrared spectrum and it's always looking out for heat signatures of incoming targets.
And remember, you know, stealth bombers and stealth fighters, they may be immune to early level radar, but they still produce heat.
And that heat leaves a signature.
And there's no way to cover up the heat because, you know, burning jet fuel produces heat every time, you know, no matter what.
So these thermal emissions of stealth bombers and stealth fighters, etc., allow these missiles to lock on to those systems and to destroy them.
Importantly, the published range of these surface-to-air missile systems is 260 kilometers horizontally.
with an altitude ceiling of, believe it or not, 50 kilometers.
That's very high.
I mean, that's almost getting into low Earth orbit there.
So it's, I mean, not quite, but it's very high.
And it's higher than any typical aircraft would fly.
So you can't fly over these systems and you can't really fly under them and you can't evade them.
You know, you can't jam them because they have the infrared optical seeker technology.
You could try to jam radar.
It doesn't matter.
As long as you have a heat signature and the missile's coming for you.
So this system has been purchased by numerous countries, including Egypt and Pakistan and Turkmenistan and many others.
And it's a very successful system.
It's widely known.
Its performance is considered to be exceptional.
Its target acquisition is extraordinary.
And then when you combine it with these other stealth, or I should say, anti-stealth radar systems that I just mentioned, then you have something that stops the U.S. Empire and its military right in its tracks.
So the U.S. can send stealth bombers and stealth fighters into Iran.
It should just plan to lose them or some of them.
And it would only take one.
It would only take the downing of one stealth bomber to end Trump's presidency and to make the U.S. military look like a bunch of buffoons.
And that, I think, this is my guess, I think that is why Trump has so far refused to pull the trigger on this attack on Iran.
And that means this is a pivot point for history.
The U.S. can no longer roll around the world and just bomb anybody at once and kill everything, anybody at any time, destroy anything, or threaten to do so.
This is the first time a country is pushing back and saying no.
And Iran has also said no to the demands of the West.
Marco Rubio and others are demanding that Iran give up all its missiles.
The missiles that are really its self-defense.
And Iran said no.
We're not giving up our missiles because that's suicide, obviously.
If we give up our missiles, you'll bomb us, obviously.
So no, we're not giving up our missiles.
Those missiles can hit U.S. air bases throughout the region.
Iran has ship-hunting missiles that can actively lock onto ships and track them as they move and as they turn, and it can destroy the ships, naval vessels, aircraft carriers potentially.
And Iran has missiles that can hit Israel and can decimate Israel.
And Iran has been building these missiles and stockpiling them for many, many years, and they have hundreds of thousands of these missiles ready to go.
And furthermore, Iran has said that if the U.S. attacks Iran, then Iran will destroy Israel, even if Israel itself is not actively involved in the attack.
Why?
Because Iran considers Israel and the United States to be essentially the same military enemy, and they are.
You know, they operate as one combined unit in the Middle East.
So the conundrum for Trump is if we don't bomb Iran, you know, then Netanyahu is going to be mad because Iran doesn't get destroyed.
And of course, Trump is always doing the bidding of Netanyahu.
But in this case, he can't, because if he does bomb Iran, this could go very badly and Trump could lose his presidency and he could embarrass the U.S. Empire for the whole world to see.
showing the U.S. to be unbelievably weak, like a paper tiger of incompetent political leaders, incompetent military leaders, and a broken currency that no longer holds value, obviously, and thus would be increasingly abandoned by other buyers and sellers all over the world.
Now, it's critical to note that China will not allow the United States and Israel to destroy Iran.
And, you know, also the West could be just trying to turn Iran into Syria, basically.
In other words, to fracture it, to cause chaos, to destroy its leadership, even though the country itself and its cities are still intact, etc.
But what the West wants to do is to destabilize the entire Middle East, including specifically Iran right now.
In order to do that, they would have to cause extensive damage.
I mean, they've already waged financial warfare with an attack on the currency.
They have waged sabotage and provocateurs with the protesters in the streets a few weeks back, and that didn't work.
So now all they have left is bombing, and it turns out that is a high-risk operation.
So you see, China doesn't want Iran to fall, and neither does Russia.
And why?
Well, for one thing, China's Belt and Road Initiative has railroad tracks and rail delivery right into Tehran.
And if you look at the geography of the region, Iran is key real estate that connects China and Eastern Asia and even ultimately Russia through Iran to the Middle East and the Mediterranean areas and even to Africa, right, by land.
And so this is a critical piece of China's strategy for being able to protect world trade and be able to export so that it could protect its domestic industry, which is necessary for the people of China to have jobs and have work and not end up penniless and revolting in the streets, right?
The factories need to be able to export and the exports need to be able to get delivered.
And that requires deliveries to go by rail, especially since the West is always threatening China over sea routes.
So this belt and road initiative that goes through Tehran cannot be allowed to fall into the hands of the West.
It cannot be allowed to be destroyed.
That is why China is providing this key breakthrough technology to Iran.
Now, what about Russia?
Well, Russia and Iran have also done a lot of deals on technology sharing for military weapons and also production of drones in particular.
It's clear to me, although I don't think this is publicly acknowledged, but I think that Russia has its own experts running the anti-air defense systems in Iran.
And then now China is adding to that.
So in effect, Russia and China are both on the ground in Iran, you know, by proxy, in the same way that the U.S. has its soldiers in Ukraine, even though they're not in uniform, you know, they're, quote, contractors.
Well, Russia and China are doing the same thing in Iran.
But what's actually on the ground in terms of defense systems and anti-air defense systems is advanced technology from both Russia and China.
So Iran is becoming a proxy location for a world showdown.
The world showdown is can America's technology, you know, stealth tech and bombing and the might of its navy, can it overcome the technology advantage? of Russia and China and Iran, all three of them working together, because remember, Iran also has very capable engineers by itself, highly capable mathematicians and so on.
Look, Persia, if you don't know the history of the world, most of the technology of the world came out of Persia, just originally, just saying they have plenty of smart people there.
Well, now they're all working together and they've got better technology than what the West has.
So this showdown, in my view, America has already lost.
America has already lost because America can't get away with bombing Iran into smithereens, so to speak, and then walk away scot-free without taking a lot of hits itself.
Now, if America wants to go in on a suicide run, send in some stealth bombers and fighters on a suicide mission, sure, they can do that.
Should just expect those airmen aren't coming back.
And importantly, if Iran shoots down any stealth aircraft, then it's going to, of course, analyze the debris and it's going to reverse engineer all the materials, all the electronics, all the flight control systems and everything else, although much of it's already outdated.
But that's going to deliver stealth aircraft to Iran.
Now, granted, smashed up or blown up or whatever, but out of the rubble, man, you can piece together a lot of things.
You can rebuild the basics of an aircraft out of a crash site.
And plus, on top of that, there's a fortune of rare earth minerals in every bomber and every fighter, as we talked about earlier.
So Iran would it would actually be like a gold mine for Iran to shoot down a U.S. stealth aircraft.
And it would be a punch in the face and a bloody nose to the U.S. Empire, maybe knocking out a few teeth and maybe a kick in the balls at the same time.
And what is Pete Hegseth going to say then?
Mr. Tough Talker who doesn't know ever what he's talking about, what's he going to say then?
And what's Trump going to say?
How is he going to spend that?
Because he always says, oh, we're the biggest, baddest, toughest military in the world.
We do whatever we want.
We go anywhere we want.
Everybody has to obey and do what we want, or we're going to bomb them.
We're going to kill them.
I mean, that's Trump's attitude right now.
Somebody punches back, knocks a few teeth out, then Trump suddenly realizes, oh, wait, you mean we might have to engage in actual diplomacy instead of just threatening and killing everybody?
Oh, my goodness.
That would change everything.
So in summary, we finally reached that point where the U.S. military dominance that was very clearly demonstrated in Operation Desert Storm in the early 1990s, that advantage is now gone.
It's gone.
Israel can't stop missiles from Iran.
The U.S. can't just stealth bomb everybody with impunity any longer.
The technology of countries like China and Russia, and also Iran with its very capable drones, that technology has surpassed the U.S. military tech, which is now largely obsolete.
Even Turkey has much more advanced technology than the U.S. military.
And Turkey is a world leader in drone engineering and drone manufacturing as well.
So the U.S. can't even field a working hypersonic missile.
The U.S. can barely keep F-35s flying.
The U.S. has extraordinary costs to keep anything in the air or any engine humming or any aircraft carrier sailing because of the fraud, waste, and abuse of Pentagon funding.
And that's why Trump has to continue to increase that funding to an insane $1.5 million.
Did I say million?
A trillion dollars per year.
I know it's hard to even get that out.
$1.5 trillion a year is what it takes to keep this giant machine of waste, fraud, and abuse rolling.
Rome's Debt Crisis00:05:54
And on top of that, then the U.S. can no longer find buyers for its debt.
So it has to print its own currency to buy its own debt, which only causes a spiral of eventual hyperinflation.
And this is how empires end, folks.
You end up in all these military campaigns that become crazy expensive.
But because your country suffers from arrogance and complacency and apathy, you are no longer really the dominant military force in the world, even though your leaders still think you are.
And then you end up in some kind of conflict and some other country chops your head off.
And so, oops, turns out, yeah, you weren't the world leader in stealth technology or missile systems or whatever.
And that's the moment that we are observing right now.
This is history unfolding.
You're watching the end of the dominance of the U.S. Empire, which means the end of the dominance of the U.S. dollar.
And that is going to impoverish the American people who have been living on, let's face it, they've been living on currency printing and inflation exporting to the rest of the world, while the rest of the world would go through the trouble to actually make things and send them to the U.S. in exchange for debt.
And those days are just about over, which means that the American people are going to end up seeing massive price increases and incredible shortages and product scarcity across the board.
Also combined with the fact that the American people have largely lost the primary skills of manufacturing, you know, metal working and industrial skills and factory skills, machine shop skills, et cetera, that used to be very common, let's say back in the 1970s.
Those are mostly gone.
I mean, we have, in America, we have 57% of the adult population is illiterate at this point.
They're incapable of comprehending anything they read.
And I mean, I know it sounds crazy, but that's true.
And as a result, you can't just rebuild wartime factories and pretend that it's the 1950s when you actually had intelligent people who could read and write.
Because what was a fifth grade education back then now is like a PhD in a university just to be able to read.
You almost need a doctorate from the University of California.
Like, what's your doctorate in?
Reading.
I know how to read words.
Oh, you get a PhD.
I mean, that's how crazy it is now.
But you can't just set up factories and throw a bunch of Americans into the factories if they're illiterate and they don't have any skills with their hands anymore.
And they don't.
So this whole idea that we're just going to bring a bunch of factories back, or as Trump calls them, plants, we're going to have plants over here and plants over there and then deals.
It's pretty much deals and plants.
The reason this won't work is because you don't have domestic education, you don't have domestic skills, and you don't have the domestic supply chains of all of the minerals, the aluminum, the gallium, you know, everything that we talked about, the bismuth, all these critical rare earths and minerals, you don't have domestic supply even of sufficient silver to be able to power your domestic industry to build these weapons.
So think about it.
If you don't have the supply chains, You don't have the power grid either.
Forgot to mention that.
You don't have the workforce that's educated enough.
You don't have a workforce of people who remember how to do things with their hands other than hit the like button.
How are you going to reform America into an industrial giant that can compete with China?
And the answer is, you're not.
You're not.
It's not going to happen.
This ends in collapse.
It's already done.
Understand, I'm not even trying to say, oh, listen to this and then write your congressman.
We have to change.
We have to turn this thing around.
No, it's already too late for that.
There is no turning this thing around.
That's what I'm trying to get across almost every day now.
There's no turning this around.
It's going to collapse.
The dollar is going to zero.
Now, it's not going to happen overnight, but it's coming.
And it's so funny.
I still hear people out there, oh, the dollar's not going to zero.
It's the world reserve currency.
Yeah.
Yeah, that's what every civilization thought before its currency went to zero.
That's what Rome thought.
You think Rome planned that it was going to collapse?
No.
It was unexpected.
And all the Roman experts said it could never happen because Rome was so dominant.
Well, it happened.
And it's happening right now with the U.S. Empire.
So look, protect yourself from the future that's rolling out in real time.
If you're smart, you know what that means.
Decentralize away from the banking sector, from the currency, from every centralized control system.
Have food self-reliance.
Have financial self-reliance.
Have your own knowledge.
Become as independent as possible.
Get as far away from the cities as possible.
Get as much off-grid as you can.
To the extent that you do that, you're going to be able to weather the storm.
You'll make it through and you'll be fine.
Even if the country falls apart around you and the currency gets reset and most of the people you know end up impoverished and homeless and begging for help because they never bought a single gold coin.
And that's going to happen.
You're going to see a lot of people like that.
You know, help the ones you can, but everybody's got an opportunity to get prepared right now.
Get Far From Cities00:03:34
Most people are not taking that opportunity because they believe the lies on Fox News or CNN or from the White House.
They believe that the U.S. is going to be strong forever, the dollar is strong forever, that everybody's going to keep buying U.S. treasuries.
None of that's true.
All of those statements are complete fabrications by a delusional administration that is leading America into its final collapse.
And the military, the incompetence of the military, the technological lateness of the military is just one sign of the collapsing empire.
And isn't it interesting that the DOD could develop bioweapons to unleash them against the American people via Operation Warp Speed, but it couldn't make hypersonic missiles that actually fly.
So you see where their priorities are.
It's building weapons to kill Americans, not building weapons to kill foreign enemies.
They're really good at killing Americans.
They've already killed over 1.5 million Americans with the, you know, the SARS-CoV-2 bioweapons that were put into the JABS.
So that's actually, you know, those numbers dwarf Vietnam deaths of Americans.
Those numbers are actually larger than World War II deaths of Americans.
So we've already suffered something larger than World War I, World War II, the Korean War, and the Vietnam War combined in terms of the number of Americans killed, except the enemy was the Department of Defense itself that built the weapons and deployed them through Trump's first administration against the American people, Operation Warp Speed.
So we are actually living in a like almost like World War III, but our own government is at war with us with biological weapons, and that's their priority, is depopulation and attacking the American people.
That's where more of the money is going rather than going to capable weapon systems or advanced radar or advanced, you know, Oreshnik type of missile systems that Russia already has, but the U.S. won't have for 20 years because, well, for all the reasons I just mentioned.
Plus, on top of that, nobody can do math in America any longer.
And all the people who actually could run our military with competence were rejected by the Trump administration.
He chose a Fox News host who has no freaking clue what he's doing to lead the Pentagon, and it's only leading the Pentagon to its self-destruction.
That's where that's headed.
So, you know, if you surround yourself with incompetent loyalists, you know, if you're the president and the only people you bring into your administration are people who are loyal to you, even if they have no idea what they're doing, you're going to get an incompetent administration.
That's what we have.
The people running it have no idea what they're doing.
You know, for the most part.
There are exceptions.
There are exceptions.
I still like some of what RFK Jr. is doing, moving in the right direction.
And I know Dr. Oz is trying his hardest there at Medicare, but what a quagmire that is.
And, you know, I know Lee Zeldin's trying hard at the EPA, etc.
Don't Want To See Chaos00:03:01
I don't think Kash Patel is trying at all, by the way, for the record.
But there are people in the Trump administration that are trying to do things.
But when it comes to people like Pete Hegseth or even Dan Bongino, etc., they were just way in, in, way over their heads.
They jumped in the deep end and couldn't handle it.
Trump should have picked someone better.
Like, you know, you want someone to run the Pentagon correctly?
Pick Douglas McGregor.
No, seriously.
Pick Douglas McGregor.
Offer to pay him whatever it takes.
Get him to Washington, D.C. and start, you know, cleaning up the Pentagon.
I'm not even sure he would take the job because who wants that kind of torture, right?
But we don't have Douglas McGregors running the Pentagon.
We have a bunch of neocon warmonger Zionists who don't know what they're doing.
And as a result, this is it.
These are the last days of the U.S. Empire.
So, you know, celebrate the American flag while it still means something and trade your dollars for something else while the dollars still have some value because that's not going to last forever.
So that's my take on it.
Thank you for listening.
And look, I love America.
I want to be clear.
I love my country.
You know, I grew up, I pledge allegiance to the flag every day, growing up in school and everything.
I want America to succeed.
But what we have today is not America.
This is not what the founding fathers vision laid out for us here.
We don't have a government that follows the Constitution or that respects the Bill of Rights.
We have an overarching, tyrannical federal government that doesn't respect the 10th Amendment, that doesn't believe in states having their own power, that weaponizes and threatens every state with funding or withholding funding.
to achieve all kinds of political aims and control.
We don't have America, folks.
If you say, well, gosh, you know, why are you saying America is going to be lost?
I love America.
You know, wake up, call.
America's already lost.
It's already happened.
I'm just documenting the history of what's already happened here.
Now, it's just, you know, it's just after effects of the collapse of the dollar and so on.
But the America that we once knew, it's already gone, folks.
It's been gone for quite a while and it's not coming back.
So, you know, we all got to deal with the reality of that situation and hope that maybe we can, you know, after the collapse of this system, we can build something better that's more free, that's more in tune with our founding fathers on the other side of this collapse.
And I'm just hoping we can all get through this with the least amount of, you know, chaos as possible.
Sodium Ion Breakthrough00:15:39
I don't want to see anybody suffer.
I don't want to see people lose their life savings.
I don't want to see America defeated.
But that's exactly where this is headed.
All right.
You can check out my stories.
I cover all this in article format at naturalnews.com.
And you can hear all of my interviews and my other videos and podcasts at Brighteon.com.
So thank you for listening.
God bless America.
Take care.
You know, over the years, I have mocked EVs because they sucked.
And really, if you think about it, it wasn't the vehicles themselves that sucked.
It was the batteries.
Batteries sucked.
And when the batteries suck, the EV sucks.
And specifically, what I didn't like about EVs was the fact that the batteries would take hours to charge.
Who's got that kind of time?
Stand around at a charging station in the middle of your road trip?
No, no, thank you.
I've got places to be.
I need to, you know, put diesel in it, fill up, and keep on going down the road, right?
But the other problem was that the battery packs didn't last very long.
You know, in terms of number of cycles or number of years that you could use it, then you would have to replace the entire battery pack, which could cost $25,000, $30,000.
And also the EVs, if you get into a little minor fender bender, the whole car is completely just wrecked and toast because of all the, you know, the battery integrity might be compromised.
And so just if someone hits your bumper, the whole car can be considered totaled.
And insurance costs are much higher for EVs and also they're much heavier.
So they stress parking garages and they make the potholes worse on the roads, etc.
They actually worsen road maintenance, you know, or they require increased road maintenance efforts when you drive these EVs around.
So, and also they didn't have much range and they didn't work when it was cold outside.
So it was like a lot of horrible things about EVs.
But, but all that's changing now.
So last year, well, let me back up and say that, of course, China is leading the way on battery chemistry and battery breakthroughs.
And they've just announced something that is an absolute game changer that I believe is going to make most combustion engine vehicles obsolete.
And, you know, two years ago, I couldn't have imagined myself even saying that.
But, of course, I'm data-driven and I'm open to new information.
And what China has been able to achieve, which I'll explain here shortly, is nothing short of astonishing.
in terms of the economics and the reduced charging time requirement, the number of cycles supported, the energy density, and the temperature range toleration of these batteries.
China is clearly, clearly leading the world in battery chemistry, battery technology.
And wow, within a few years, that is, I should say, if the U.S. government allows Chinese battery technology to make it to the U.S., then it's going to change everything.
The thing is, if we actually had free market principles in America and we allowed people to buy the superior Chinese EVs or Chinese batteries, then that would put Ford and Chevy and GM and almost everybody else completely out of business virtually overnight.
Because the cars that are made in America, now they're the ones that suck.
Quality control isn't there.
There's not even really a culture of quality in American manufacturing.
There's not a skill set anymore.
Except for Toyota, which has, of course, really outstanding quality control because it's a Japanese culture company.
And Japanese are well known for very detailed quality control processes, supply chain quality testing, all kinds of things.
So Toyota is a great high-quality company.
And by the way, Toyota will be into EVs very soon, even though they delayed that for a long time because the EV battery technology sucked.
And Toyota was right to stick with hybrids this whole time.
But I'm talking about the U.S. companies like Ford and Chevy and GM and GMC, I'm sorry, excuse me, and whatever else the companies are that are U.S. car makers, they're going to be obsolete because they don't have battery technology that's any good.
They're not even, they don't even really have sufficient research to be competitive in those areas.
The only car company in America that's doing anything innovative is Tesla, you know, with the Cybertruck and the other vehicles.
And now, Tesla is staying on the cutting edge of battery technology.
And if there's any American car company that has a shot at competing with Chinese-made vehicles, it's probably Tesla with Toyota maybe in the pack there as well as they shift over to EVs.
But the big change that's happening right now is the change in battery technology, just like I said a couple of minutes ago.
So there's a big breakthrough that was just announced by a Chinese company called Katel.
C-A-T-L is how that's spelled.
I pronounce it Catal.
I don't know how people say it, but that's what I say.
So let me explain a few things about this battery and why this is such a game changer for the world.
But before I do that, I also want to mention that there's a different battery technology that they announced last year, which is called their Naxtra sodium ion battery.
Naxtra is spelled N-A-X-T-R-A, Naxtra.
And the thing about Naxtra that's really extraordinary, even though it doesn't have the energy density that we want, so it's not going to produce really long-range vehicles, but the Naxtra batteries only cost about one-tenth the cost of lithium-ion batteries.
I mean, we're talking as low as $10 per kilowatt hour of energy density.
I mean, that's extraordinary.
I mean, $10 per kilowatt hour, that's unheard of.
You know, lithium, even the lower cost lithium is $100.
And on top of that, one of the ways they achieved that cost efficiency is because they managed to eliminate lithium, cobalt, and nickel out of the batteries and replace it with sodium.
You know, salt, basically.
I mean, not sodium chloride, but the sodium element in a different matrix.
So basically, it's, you know, these are like salt batteries.
They're dirt cheap.
And the supply chains are very easy because you don't need cobalt and you don't need nickel and you don't need lithium.
So you don't have to deal with all these mines and all these wars and, you know, all the shipping routes and all the tariffs and everything that's happening all over the world.
And you can dig up sodium almost anywhere.
So, and I said previously that if Tesla starts to use sodium ion batteries, then I would consider buying a Tesla vehicle at that time.
I said that last year.
I've been waiting for sodium ion batteries as a grid shifting storage chemistry for my ranch.
I want to go completely off-grid.
And the only way to do that is to maybe erect a bunch of solar panels and then have a giant battery pack that can, you know, hold that solar energy and power everything you need.
But of course, I'm running a bunch of GPUs for AI data processing.
Basically, I have a mini AI data center.
So I use a lot more juice than most people or almost anyone, actually.
It's a mini data center.
So I did the calculations.
I actually need a megawatt hour of energy storage on my ranch.
Yeah, a megawatt hour.
One megawatt hour.
That's a lot for a residential user.
Like most people wouldn't even get close to that.
But that's what I need.
And the only way to get there is to use something like either large-scale lithium-ion, which can catch fire.
And I don't want a giant fire on my ranch or wait for something like sodium ion to come along that's a lot cheaper and a lot safer.
Because, you know, I have goats that nibble on things.
What if they nibble on the lithium batteries?
You know, they do that.
They chew tree bark.
Who knows?
And they have horns.
They can run around and punch holes in your lithium.
And then you have a giant fire and like flaming goats running around.
You know, I don't want that.
So I want sodium ion batteries on my ranch.
And I don't care about the energy density because I'm not driving around with those batteries.
I'm just sticking them on a concrete slab and letting them cycle for 20 years.
So I'm waiting for sodium ion tech to come to America.
And sadly, we had the bankruptcy of the Natron company last year, which was a U.S. manufacturer, supposed to be a manufacturer of sodium ion.
And basically, they went bankrupt because they looked at China and said, well, we can't compete with China.
It's already over.
So they went out of business.
That's too bad.
So anyway, while I'm waiting for sodium ion batteries, the Kato company out of China, which I would love to visit Cato, actually.
Not that I'm planning on going to China anytime soon.
Although I am studying more, more Chinese.
I'm really improving my Chinese linguistic skills lately.
I just figure it's going to be useful.
I mean, I already speak basic conversational Chinese, but I was really lacking a lot of technical terms.
So I'm beefing that up just in case I ever go to China and tour some of these battery factories or something, then I can speak Mandarin locally and take taxi cabs and get something to eat without sounding like a clueless foreigner who doesn't know what they're doing.
So anyway, the Catal company And again, I'm really impressed with their technology.
They've announced something they call their 5C battery.
And it features three breakthrough technological innovations.
One of them is in the name, the 5C battery.
I don't know if that's what they really call it themselves.
But are you familiar with the C term when it comes to the speed of charging batteries?
Do you know what that means?
So a battery that can be charged at 1 C means that you can charge the entire capacity of the battery in one hour.
That's what that means.
That's all it means.
And, you know, that's pretty typical for a lot of lithium iron phosphate batteries right now.
You could typically charge it close to 100% within an hour.
So 1C batteries are pretty common.
And you may know this already about battery chemistry, but typically the faster your charge rate, the more damage you do to the battery because of thermal problems, thermal expansion problems, and causing like micro cracks throughout the electrolyte sections typically, or the, I guess, the cathode maybe is where that ends up.
But because I know a lot of the electrolytes are just aqueous solutions, so they wouldn't have cracks, but the cathodes can have lots of cracks.
Anyway, today's batteries are more like layers, thin film layers, so it's a totally different ball game than the old lead-acid batteries.
Nevertheless, the faster you charge a battery, the more damage you do to it.
So if you keep charging a battery very quickly at its maximum charge rate, you will typically reduce its total capacity over time.
So instead of holding 100% charge, it might only begin to hold a 95% charge or a 90% charge if you really abuse it with a lot of fast charging.
So typically, if you want your battery to last longer, you slow charge it.
However, China's new innovation, well, let me say, slow charging sucks when you're trying to drive somewhere.
So you can see these are competing issues.
You want to charge a battery quickly when you're on the road because you don't want to wait three hours at a charging station.
You'd rather charge it in five minutes and get back on the road, right?
But fast charging damages the batteries and reduces your overall capacity over time.
So what Catle has come up with, which is a game changer, is a battery that charges at 5C without causing too much damage.
Causes a little bit of damage, but not that much.
5C means you can charge the whole battery to 100% capacity in 12 minutes.
Because of course, that's an hour divided by five, right?
So 12 minutes is one-fifth of an hour.
And a 5C battery means as long as you have the charging capacity available, the charger has to be able to push through that many kilowatts that you need.
But as long as you have the charging capacity, you can charge everything in 12 minutes to almost 100% and then get back on the road.
And that's reasonable.
That's reasonable for people that drive cars and people that drive trucks.
A 12-minute break to get out and stretch your legs, you know, that doesn't really interfere with your road trip very much.
Whereas a two-hour or a three-hour break makes highway logistics impossible for trucking.
You can't stop for two or three hours every time you need to recharge your truck, right?
So this battery changes everything.
It makes long-term trucking with EV trucks viable, not only because of the rapid charging time, but also because of the fact that the batteries have much higher energy density, which we'll get to.
And also the number of miles you can put on that battery before its capacity drops to about 80%.
And that answer, by the way, is over 1 million miles.
So if you have a battery pack, this new 5C battery, if you have this in your vehicle, it can handle about 1,400 charge-discharge cycles at 5C speeds.
Or if, and that's at 60-degree heat, or if you charge it in colder weather or like more normal weather, you get up to 3,000 cycles out of it.
And that translates into over 1 million miles of overall range.
And even then, you still have about 80% of the capacity.
So this is six times better than the current industry average.
So it's almost an order of magnitude improvement in the lifetime duration of the battery pack of a vehicle.
And it charges quickly.
Now, we don't know exactly the battery chemistry of this battery because the Kato company hasn't really announced it, but it is suspected that this uses what's called NMC ternary chemistry.
And it achieves an energy density of about 250 watt hours per kilogram, which that's not breakthrough by itself, but it's also not bad.
And, you know, it's much better than existing batteries.
The real innovation in this battery line is not just that it can be charged rapidly, but that it has self-healing additives that are put into the electrolyte.
It's called an SEI additive or a self-repairing or a solid electrolyte interphase film that, quote, patches microcracks that appear during blazing fast charging sessions.
So in other words, when you charge it rapidly, which we all want to do, it does cause damage, but the damage is self-healed.
So we now have a self-healing battery.
Wow.
And then on top of that, there's supposed to be something called a temperature responsive coating on the separator surface that automatically slows ion migration when the temperatures get too hot.
So it's a self-regulating, just by the laws of chemistry.
It's self-regulating to reduce the risk of thermal runaway damage or even self-ignition of the battery.
Because I believe this battery still does use lithium.
But self-healing technologies, that sounds like it's from the future, you know?
Charging a giant truck battery in 12 minutes and you're back on the road, that's a game changer.
And the cost of this hasn't yet been disclosed, but given that it's Catal, it's going to be very affordable.
Anyway, the bottom line in all of this is that this battery breakthrough technology really does make combustion engines largely obsolete for a lot of transportation, personal transportation, as well as commercial transportation.
The only question is, will President Trump or other future administrations, will they engage in domestic protectionism to protect the obsolete U.S. car industry?
Or will they allow U.S. companies to import these batteries or even Chinese vehicles built around these batteries, which would make transportation much more affordable for many U.S. consumers and transportation companies?
Of course, they would be tied to the grid for recharging, and that is an issue when the grid's down, obviously, or for the Eastern power grid that's already stretched to its limit.
But still, for a lot of people who aren't on the Eastern power grid and who do have plenty of electricity, this makes vehicle operations much less expensive.
And it also greatly reduces the maintenance time that's required for commercial vehicles.
For example, diesel trucks, you know, the 18-wheelers rolling down the highway, all those diesel engines have to be rebuilt before they hit something like a million miles.
I don't know what the exact number is, but you can't just drive a diesel engine forever.
You have to rebuild the whole engine.
And many other components, obviously, you have to change the oil.
Obviously, you have air filters and you've got all kinds of mechanical components, transmissions, etc., and all the gear shifting and everything.
And electric motors make all that obsolete.
You can rip out the whole thing, rip out the engine, rip out essentially the transmission as well.
You can rip out all of it.
You don't need fuel.
You just have batteries.
And then the cost of transportation drops substantially.
And then that makes food more affordable in the United States, you see?
And it accomplishes a lot of things economically that actually promote economic growth in your country, wherever you happen to be.
For example, the cost of an Uber would dramatically drop if all the Uber drivers were using electric vehicles with these batteries because it just sharply reduces the cost to operate a vehicle.
So these batteries are such a revolutionary technology that they'll be used in ATVs or UTVs side-by-sides.
They'll be used, of course, in golf carts and things like that, but also they'll be used in military applications, definitely robots and drones.
And then on top of that, they'll probably be used in electric aircraft or what we might call like personal taxi aircraft, like drones that you can sit in and it takes you from point A to point B.
Those will be powered by these kinds of batteries.
And, you know, as much as I currently enjoy the advantages of diesel engines, because I've talked before about the ability to store diesel fuel safely on a ranch, you know, in a fuel storage tank, because diesel is not very combustible.
It's very safe to handle compared to gasoline.
But you still always need some giant truck of fuel to come out and refill your diesel tank, right?
Well, once you have an electric vehicle with this new battery technology, you can fill it up yourself with solar panels.
So that creates decentralization.
You no longer need the fuel refineries.
You don't need barrels of oil to be turned into diesel to power your truck or your car or your tractor.
Instead, you're using sunlight.
You're just recharging it.
And, you know, however many hours of sun it takes to give you how many miles or how many hours on a on a hobby farm tractor or what have you, that's going to become possible with new battery technology.
Granted, it'll take several years for all of this to work its way through the system, but I'm looking forward to a day when I can buy a battery-powered skid steer or literally a battery-powered tractor, even though I've mocked that idea in the past, but that's because the batteries sucked.
That's changing now.
We will have battery-powered tractors eventually, although it still may be many years off and they'll have a limited runtime.
But for a lot of hobby farmers, that's fine.
Or like a battery-powered riding lawnmower, those already exist, don't they?
You could see a little tractor like a 20-horsepower tractor that's battery-powered.
You can run it for two hours, and then that's it.
You got to recharge.
Well, that's fine for a lot of users who aren't commercial crop growers.
Now, granted, the big tractors will still run on diesel for at least a decade or more.
But over time, as technology comes in, that'll change as well.
I mean, this is really revolutionary.
This battery technology is changing everything.
And it does mean that combustion engines are about to become obsolete in a great many applications over the next few years.
So stay informed on all of this.
You can find battery chemistry technology podcasts on my channel at Brightion.com or articles at naturalnews.com where I will be covering this.
And as always, my focus is about helping you live off-grid, helping you decentralize.
I want to decentralize away from fuel refineries if I can, because if I can just erect solar panels and then give myself fuel for tractors and cars and ATVs and all kinds of things like that, that's decentralization.
And it's hard for governments or corporations to cut you off from the sun, isn't it?
That's hard, although they are trying that with stratospheric aerosol injection, global dimming.
But even then, it takes a big effort from a government to block even 1% of the sunlight.
So they're unlikely to be able to succeed in dimming the sun enough to take away your energy.
Otherwise, they collapse the whole all life on planet Earth, right?
Which maybe they do want to do that, but that's going to take some time.
In the meantime, we've got free fuel, you know, coming out of the sky from that giant fusion reactor called the sun, which is over 99.8% of the mass of the solar system.
And that mass is being converted into energy completely free.
And all we have to do is collect that, and we could power our vehicles.
And the only thing that stood in the way this whole time was just crappy batteries.
And that's being resolved now.
It's a very interesting time.
So I'll keep covering this from a decentralization and off-grid point of view.
I want to help you decentralize away from the power grid, which is failing in the U.S., and also away from the fuel refineries.
Premium Batteries: A Game Changer00:15:31
I want to help you live as independently and in the most self-reliant way possible.
That's sustainable.
You don't depend on wires or pipelines from somebody else.
And battery technology is actually a very key component for achieving that.
So thank you for listening.
I'm Mike Adams here, the Health Ranger, naturalnews.com and brighton.com.
Take care.
Silver is strong and getting stronger.
And as we keep saying it, it sounds perhaps hyperbole, but it's not.
It's a required, essential, irreplaceable asset required for a high-tech society.
Period.
What else are you going to do?
You can experiment with drafting.
You can talk about copper solar panels and all this stuff.
But the march goes on.
And if you do a full analysis that you just outlined, it seems to come back to silver anyway.
All right.
Welcome, everyone.
Mike Adams here, joined by the silver guru, David Morgan, today, who is, you know, of course, he's been proven correct again and again.
And he's in high demand right now.
Everybody wants to know what David Morgan thinks about what's happening with silver and to some extent other metals as well.
But welcome, David Morgan.
It's an honor, sir, to have you on today.
Well, it's an honor to be on your show.
And, you know, the silver guru is sort of a tug-in-cheek.
You know that.
But thank you, Mike.
It's good to be back with you.
Well, I mean, you say tongue-in-cheek, but you certainly look like a guru as, you know, look at what silver has done in the last year.
And you talked about this for so many years, and now it's happening.
Well, I will say, you know, in all honesty, that there have been a few times where I guess you could say I've earned a title.
You can say, well, I didn't catch that last part.
I say there have been a few instances, certain conferences, certain questions, certain details about the silver market that let's say I had access to that probably very few did.
So in those circumstances, I would say that I had earned the title Silver Guru.
Oh, okay.
Yeah, absolutely.
And look, you know, you've always said, and this is my message to my own audience, is don't go crazy with leverage risk bets and things like that, but just stack silver, stack it a little bit at a time year after year.
And here we are in 2026.
And isn't it true now that people who just stack silver are sitting on, in many cases, now generational wealth at this point?
Yeah, absolutely.
I mean, one of the programs that I partake in myself and recommended is one, which is basically an automatic stacking program.
And they put you into a silver bar, a thousand-ounce bar.
And, you know, some people can't hold it.
You don't own it.
And I get that.
I always advocate that myself.
But there were times when we've got these extreme premiums, Mike, as you know, where like a Silver Eagle was like a $20 premium or something.
Well, I just suggested to my followers, just keep buying the silver bar, you know, nearer, much nearer to spot.
And then what happens at the end of whatever, you could determine it, but at an end of the quarter, end of the year, every six months, you then make the determination of how to convert that silver into a silver eagle, a silver makeup, a 100-ounce bar, a 10-ounce bar, a kilo bar.
So they give you all these choices, but you get to see what the premiums are.
So in other words, you're accumulating silver in commercial bar form.
And then when you take it home, which I advocate everyone does, you then set the premium.
Well, if the premium is real high, don't bother.
Just keep stacking.
And, you know, I think in the long run, that really helped you.
Yeah, yeah, absolutely.
And also, I see a lot more people talking today about the counterparty risk issue because there's a lot of distrust in the banking system.
There's distrust in pooled metals and brokerages and ETFs, things like that.
So, are you also hearing that from people?
Just a lot more awareness of that issue?
There is.
And even, you know, I hate to say it, but truths are truths.
And one of the well-known depositories for gold and silver IRAs turned out to be not on the up and up.
Not all the metal is gone, but only like 25% is missing.
And that's just horrible.
I mean, people put their, obviously their life savings.
Some people have, you know, more metals exposure than others.
My point being, you know, you get an IRA.
I mean, that should be synchrosynced.
I mean, nothing should be in harm's way of that.
And yet, unfortunately, it does happen and it has happened.
Well, yeah.
And it seems like when organizations get into trouble, then their ethics start to slide.
And they like, hey, here's a pile of silver in the corner here.
No one will notice if we just sell it to someone else and pretend we still have it, right?
That happens.
Well, I don't want to go too far down the road, but this is wrong a topic.
I mean, the problem is ethics, and it's that, you know, I'll just do it once.
And once that thought comes, if you take action on it, you're in trouble.
I mean, I've met dealers that were on the up and up for many years.
And then, you know, David Morgan walks in and he says, hey, I want to buy a monster box.
And he knows it's going to take three weeks to get one.
And he's got five in the back.
And he says, yeah, sure, David.
Okay, fine.
And I pay him and he takes one off the back shelf that is really being stored by somebody else with the absolute full intent of replacing it, right, Mike?
But then the market runs away.
And he says, well, I'll just wait until it comes back down.
I'll replace it.
I mean, once you steal one time, one coin, one box, 10 bars, whatever, you've gone down that slippery slope.
And that has happened.
I don't want to make a big case of it, but it has happened.
I'll put it that way.
And, you know, these are guys that have been on the up and up.
And then that just that one time, you know, I'm just going to do it once.
Well, good luck.
Well, right.
And the extreme volatility in this market tends to expose those who don't have rigorous standards, accounting practices, inventory practices, et cetera.
Especially a parabolic rise in the market that we saw all the way up to, what, 120-something per ounce.
That created real havoc for the industry, didn't it?
Yes.
And I think on that topic, I think we don't belabor it.
I really don't think that we have shaken the tree to the aspect of seeing how much fruit hit the ground.
My metaphor being, I think there's probably some people in trouble because of over leverage or not meeting maintenance margin or what have you, banks included, that could be a repercussion of that move, Mike.
And I don't think we have the whole story yet.
I think it'll be unfolding over the next couple of months or so.
Well, that's a really important point.
So there's yet more fallout, is what you're saying from exactly.
Well, who's going to be hurt in the fallouts?
You said banks.
No, rumors only.
I'll say rumors again.
Not a money setter bank, but a pretty substantial bank that's a rumor.
I got it from an ex-floor trader, close personal friend, not a BSer, but I don't consider myself a journalist, but in a way, I want to obey the rules that if you don't get it from like two or three sources, I kind of dismiss it.
Since it came from him, I'm not dismissing it totally.
And common sense.
I mean, when you get those kind of moves, I don't care if it's in the housing market or automobile manufacturers or whatever, common sense is someone's going to get hurt in that kind of a move.
Somebody's on the wrong side, and somebody's probably going to pay a price for that.
Yeah.
Yeah.
Well, that's really interesting given what happened last Friday with the big plunge, 33% or more at one point, down to $76 or so.
I know you've covered this on other shows, but what's your quick take on how that was engineered and all the stop losses that got triggered along the way and kind of accelerated the whole thing?
Or what's your explanation of that event?
Yeah, I'm going to sound more of an apologist for the banks than I normally do.
I just be fair, and I know, Mike, you're one of the best.
I mean, you let people give their point of view, whether you agree with it or not.
Basically, I've been saying, particularly my membership, look, this is a parabolic move.
I don't care what the commodity is or what the stock is, or anytime you see that kind of a move, you've got to be cautious.
Let's think about this for just a moment, Mike.
Silver had an astronomical move in 2025.
It was up 140% in the year.
Wow.
But in January, it was up almost 70% in the month.
Right.
Now, let's think about that.
You know, especially someone like me.
I mean, I'm no one special, but I traded futures for a living for some significant amount of time.
And so I know markets, no expert, no, you know, whatever.
And I saw that, I said, you know, buyer, beware, be cautious, don't buy unless you have to.
Well, David, I've never owned metal before.
Well, then buy half.
You know, I think you've heard me say that before.
You know, look, you've got to be in.
You should have, it's better to have some than none, but please don't consider putting it all in at these levels.
And then again, you know, what took place took place.
So I would consider it more or less normal market activity.
Now, the sum set, the summation of that and going deeper, which I know you'll let me do, is that the CME, the commodities mercantile exchange, raised margins and tightened risk controls in the precious metals contracts.
And it's a moment of extreme volatility.
So the official rationale was risk management.
And in a way, I think they are correct.
I mean, they were forcing deleveraging by specs and some funds by raising margins.
This accelerated liquidity and liquidation into a thin liquidity, which means what I call a waterfall decline.
If you're on minimum margin and you got to sell or the exchange will sell you out if you don't meet the margin call.
And so that reinforced the papers market's dominance over the short-term price discovery.
I want to re-emphasize that because, and I was among them, not to the level that some people were or how I perceived, oh my goodness, Shanghai's taken over the Asian markets.
It's a cash and carry physical delivery market.
The physical market has taken over the paper paradigm.
I said that a few times, but not meaning it was a permanent thing and the paper paradigm people couldn't have their way again.
And they probably will a few more times on this ride all the way to the top.
So it's just another important point that stackers need to know.
And if you're a stacker, you probably weren't hurt.
In fact, maybe you didn't buy that month, perhaps.
I don't know.
Point being is that market wasn't a runaway market and it was due for a correction.
So it wasn't about the fundamental, it was about protecting the clearing system.
I mean, these guys are human beings too.
I don't like the way they do things.
I don't like the way they run things, but it's their game.
And if you're in their game and we all are in a way, even though we don't like it, we are in a silver mine.
We're on a physical side, but the paper paradigm still has a lot of clout.
Back to you.
Sorry.
Yeah, that's a really good point.
The paper side has a lot of clout, and the spot price is still controlled by the paper issuers or the buyers or sellers.
But isn't it interesting that in that correction and by the margin requirements being raised now several times and by so many people's stop-loss sell orders being triggered and sold, now the entire silver upside that if it continues is a lot less leveraged than it was before last Friday.
So a cascading waterfall collapse like this would be much more difficult to be triggered moving forward because there's less leverage in the system.
Does that you agree with that?
Absolutely.
I mean, people may get upset with me, but it's really healthy to have this kind of correction.
I wish it was 10%, not 30%, but it's important for the market to have a strong basis of strong hands and weak hands.
And when the weak hands get shaken out, which is what happened Friday, now we have, as you said so well, a base to build from that will be a more solid market going forward.
And this is important for people that are long-term investors, maybe new.
I mean, there are people that are probably buying above 50 that are, you know, maybe a little worried.
I said, God, 50 was an all-time high not too many weeks ago or months ago.
And now, you know, it went up over 120.
Now we're back to 80.
And on and on, it goes, look, silver is so important for a high-tech society that we can't live without it.
And if you don't overload, the main problem, I know I've said it before, but please, Mike, let me go on.
People buy too much at one time.
It's usually why they get in trouble.
They hear the story, they trust you, they trust me.
They find out how the whole banking system is basically a ripoff.
Inflation is instilled in the market to steal our labor.
And they get it.
And they get upset and they take action, which a lot of people just listen, I'll never take action.
But they jump in with both feet in the deep end, and then they can't hold their breath long enough.
And then they come up and they're all upset.
So really, the best thing to do is what I said in the 10 rules of silver investing: start small, get your order, see how it comes to your house, unwrap it, and just start to dollar cost average.
It takes a lot of stress out of the whole situation.
Yeah, that's exactly right.
And I've offered the same kind of information for many, many years.
And I've never encouraged people to make leveraged bets with futures or options because that's a whole different ballgame right there, right?
That's you can, especially on a move like we just saw, you could lose 10 times your investment.
Yeah.
It's a total wipeout.
Refiners Strained By Demand00:14:52
Okay, next question is now, you and I both know that the refiners are still log jammed for months to come of incoming silver.
So so many people were selling all kinds of sometimes like random types of silver coins, random pieces of silver, even silver Spoons and whatever, for all the way through January, that the refiners are backlogged.
And the dealers themselves, a lot of dealers have already, they've used up all their available lending capital to pay customers while they're still waiting to get paid by refiners who are logjammed and backlogged for months to come.
So, isn't it true, David, that it's going to take actually months for something resembling normalcy to return to the silver infrastructure?
Yes, Mike, and you outlined it well.
I thought you were going to leave a part out.
You didn't.
You did the whole big picture.
So, one is that the refining capacity in this country is very minimal.
I mean, we didn't have, you know, we don't have enough demand.
And now we do.
So, part of it is a backlog piled, you know, in the backyard, so to speak, of different various silver coins and what have you that need to be smelted into 1,000-ounce bars.
That's part one.
Part two, and I think more importantly, is it isn't just the backlog that there's such a flow rate, so many ounces per day can go through the process.
That's part of it.
And it's going to take probably weeks or months.
Probably the best guess, and I say guess is a couple of months.
But the other part is the financing.
I mean, you might not be able to buy any more silver.
Why?
Because you don't buy silver because you've got a huge bank account.
You are XYZ Refining, and XYZ Refining has a commercial credit line with their bank.
And that credit line is 200 million.
I don't know what it is.
Make up a number.
100 million.
Once you achieve 100 million that you have bought and stored on the shelves, it's going to take a couple months to process.
You can't take any more in, not because you don't have shelf space, because you don't have the money to pay for it.
Exactly.
And the supply chain is weak because, for example, and you just said it, but I'll make it personal here.
Friend of mine bought silver at 18.
She called me and she put her mother into silver, believe it or not, which actually is good thing.
And so this woman wanted to cash out her 350 ounces at our local dealer here, which is a pretty sizable dealer.
He gave her a check, but it was post-dated for two weeks, Mike, because he said this will not clear from my bank account.
I've got to get paid by the refiner.
I plan that he's going to pay me in 10 days.
This is 14 days from now.
So please don't try to cast the check.
So that's the situation we're in.
And actually, getting paid in 10 days from a refiner right now is pretty good.
Yeah, yeah.
But it's probably, and I'm guessing this part, but maybe that payment 10 days was what he had said in three weeks before.
Oh, okay.
Yeah, that makes sense.
And also, the other thing that I think a lot of members of the public don't necessarily realize is that when dealers take in silver, they buy a lot of silver at retail, and then they send it to the refiners if it has to be, you know, melted and turned into thousand-ounce bars.
Then those dealers, they also, many of them, not all of them, but many of them, in order to reduce their risk, they will buy shorts on silver at Comex.
And then when Comex raises margin requirements, then those dealers have to come up with more money to cover the shorts that they have out there.
And so it becomes more and more expensive to hold the risk of price volatility of the silver that they're waiting to get paid on.
Is that all correct?
Or what would you add?
Yeah, no, very important point.
And this is the, again, I'll use the, I guess, the correct word: supply chain.
There's many little events that we're outlining that are critically important to how the whole silver market moves.
And you can say the same thing for cotton, but cotton's not a monetary metal.
Point is, there's these little details that people don't think about.
So think that the refiner's already tapped out his credit line.
Now he gets a margin call.
What's he going to do?
There's nothing he can do, really.
He's got to sell physical silver.
That's what he's got to do.
So the exchange is going to sell it for him, or he is going to maybe get an infusion of cash somehow, some way, or he's going to sell it off his own shelf.
So these are disruptions of the market.
And that's why when you get the kind of decline we saw, it wasn't because, you know, somebody hates silver and the paper traders are killing it.
The algorithms have a lot to do with it.
I don't deny that.
But everyone was so thin on liquidity, meaning Federal Reserve notes, that all of a sudden you're pulling your hair out.
How am I going to do this?
And if you don't have an answer, the exchange does.
They sell you out.
Right, right.
And there was a very important point that was also explained to me by somebody else in the silver industry.
And I want to get your take on it, which is that spot price doesn't actually refer to all silver.
You know, spot price only refers to typically thousand ounce bars of a certain purity from certain mints ready to deliver to industry.
That's all it represents.
But yet we, the public, we think spot price means that also applies to the odd silver coins in my pocket.
But it may not actually.
It doesn't at all.
I mean, as you said, you were very specific and very accurate.
And fortunately, people get the idea that they should be able to buy at spot or sell at spot.
Now, in all fairness, I've been in this market more than 40 years.
And when I was a kid, from that time until, let's say, the last few years, in most instances, in a calm market, you could get spot price for almost any form of silver or very close to it.
But when you get in these volatility problems, what are you going to do if you're a dealer and you've got to take in more silver and your credit line is tapped out, as I just said?
Well, you might discount.
Okay, I got a dealer, I've got a refiner buddy of mine.
I'm going to whatever, say they're not, they will buy it under spot, maybe a big spread, $10, because they know their buddy's going to pay them $5 more than what they just paid for it and make a quick $5 per ounce.
And that's what's going on.
And I'm not saying it's right or wrong.
I don't like it, but market conditions force certain market conditions can force situations that you wouldn't have thought of as being reasonable a few months back because the tightness in the market is so great and the volatility so high that extreme measures are taken between the spreads.
If I'm making sense, Mike.
Yeah, yeah, you are.
And that sort of is a good segue to my next question for you, which is that, you know, I've spent a lot of time over the last few months studying the core industrial demand for silver and who are the players and, you know, Samsung buying the mine in Mexico to get their output going and, you know, the use of silver in so many things from weapons to medicine to telecommunications to solar panels.
And I think knowledge about that is spreading.
But here's the thing.
Despite the silver price crash last Friday, which has already recovered substantially, I'm looking at silver right now at $87, $88.
The core industrial demand has not dwindled.
It has not gone down.
Core industrial demand continues to vastly outstrip the annual mining output in terms of millions of ounces of silver.
So that means the above-ground silver that exists simply cannot meet current industrial demand.
And I mean, I took Economics 101 in college.
I know that's going to mean higher prices unless something dramatically changes.
So I think this is a good time to get back to fundamentals.
Like there's not enough silver, but it's in very high demand.
What do you say to that?
I agree.
It's indeterminable.
And it's indeterminable because even though there is an above-ground supply, it might be as skinny as 400 million ounces, which is two years normal market activity on the retail side, which is significant, but it's not even close to what could happen if Samsung, 3M, Apple Computer, Tesla, name another conglomerate or two that requires silver to stay in business says, wait a minute,
you mean we've only got the availability and current supply to last another six months and then we're out of business because we don't have any silver?
What are they going to do?
And I've said this before, they're going to put it on the shelf and make sure they don't go out of business.
Well, if company A does it, company B might think the same thing than company C D.
So indeterminable because there could be a run to silver on the industrial side to stay in business and make sure that you got a viable amount for the next year or two or maybe even three.
And then you throw out what Rubio's done with the critical stockpile, which used to be 140 million ounces.
And there's only $12 billion allocated to it presently.
So, you know, 12 billion doesn't buy 100 million ounces.
To buy 100 million ounces, you would need 80 times a million.
So you need that math, sorry.
But you would need substantially more than 12 billion that we have now.
You need like four times, five times that amount.
Point being, is that's another requirement.
And then you have to ask the question, well, wait a minute, if the United States considers silver to be at the top of the list of the critical minerals, what's to prevent Russia or China or the United Kingdom or some other military power from thinking the same thing and say, you know what?
We need a strategic stockpile of silver.
So you see where I'm going with this, Mike.
The indeterminable part means that there are many things that could fall as dominoes do because there are greater needs for the silver industry than ever in my lifetime.
Yeah.
And, you know, you just mentioned about this critical stockpile, what's called the Project Vault, I believe, is the name for it.
And I'm glad you mentioned it's only $12 billion.
It's a drop in the bucket.
And I even did a report on this that was released today, trying to share the idea with people that even though this has been announced, it doesn't create elements from nothing.
Like you, you know, you can announce it.
It's a great press release.
Oh, we're going to have all our mineral problems are solved, but they're not because you still can't get neodymium, dysprosium, terbium, even tungsten.
I mean, and China has massive export restrictions on every single one of these that are used, especially in military applications, but even export restrictions on silver right now as well.
And also, and I'd like you to speak to this, China since last year has banned the export of the knowledge of how to extract rare earths from ore.
In other words, you can't even exp you if you're a company in China, you can't sell the know-how of how to do this to any other country, or you probably end up in a Chinese prison.
Do you know that?
No, I will comment on it, though.
And this just comes from general knowledge because, you know, mining is one of my, you know, what we write about for 25 years.
My understanding up to what you just said was that it's a very dirty, ugly, environmentally unfriendly process.
Absolutely.
And the only way to do it and get away with it is China, where the World Organization said, you know, Chinese will give you a pass on the environmental restrictions that the rest of the world faces.
And that's why it's done in China and China alone, pretty much.
As far as technique specific, you may be right.
I'm not saying you're not.
But just what I said is important to understand that you couldn't get away with the cost-effective methodology used in China anywhere else in the world.
And that's why when I was on the last TV show with one of the mainstream reporters, she asked me about this new rare elements mine in California and how well it is and how wonderful it is that we are doing it in the United States.
And I said, well, it's well and good, but we're still exporting all the raw material to China to have it refined.
And she almost swallowed the microphone.
I said, yeah, we are not, we can't refine it under the standards that are put in place and make it economic.
So you mine it, but it costs you too much in the current supply and demand cost structure to make a dime mine.
Well, if you can't make a dime on any product, you're not in business anymore.
Right.
Right, exactly.
Let me add this, that China controls, according to my research, from 48 to 99% of global production and processing for nearly all rare earths.
And I know this is an interview about silver, but this is related.
But in addition to that, the United States military is 100% dependent on some elements and then less so on others.
But one of those is graphite, which of course is not an element.
It's a form of carbon.
But China controls 100% of the graphite market.
China's Graphite Dominance00:09:13
And we don't have any ability to make it.
And so if you look at even where silver is used in, let's say, weapon systems, those same weapon systems, such as cruise missiles or F-35s or stealth, whatever, they also use graphite at the same time, which means that if you don't have both of these things, and you also need neodymium and all these other things in order to make an F-35, which has something like 600 pounds of rare earths in it, it's kind of like, you know, a recipe of baking a cake.
If you don't have eggs, you don't have a cake.
And that's where we are as a country right now.
Exactly.
And I am associated with probably one of the top, I'll say experts in the world in the REE space.
I won't give his name.
He really demands anonymity, and I get it because he is who he is, and he's very connected to the Chinese REE market and has been for years.
But you outline pretty much perfectly what he has said to me in the past.
And he also said, and I'll recomment on what you implied, and people do not understand how vulnerable we are in the REE space.
Yes, yes.
And I would add antimony, gallium, germanium, these other sort of super hard materials that are used in, you know, sometimes kinetic warheads, but also shielding, radiation shielding in some cases, or tank armor, for example, right?
Done your homework.
Yep.
Well, I spawned a bunch of AI agents that did the homework, and then they brought it back to me, and then I learned about it.
But back to silver then.
How long would it take the United States to build out an infrastructure of increased silver mining and refining if we wanted to do it domestically?
Well, I'd say if you said there were no restrictions, you could have a basically, I'll call it a free-for-all, go out to the Silver Valley, which is an hour and a half from where I'm sitting doing the interview.
There's plenty of silver remaining in that area, but there's all kinds of restrictions with the EPA.
And I'm not saying it wrong.
I'd say it's still take five years, three.
I mean, if you cut every corner you possibly could, got rid of all the red tape just to get in there mechanically to build the roads, to dig into it, to put up the structure, even maybe put a small smelter.
There's a place on the way to the Silver Valley called Smelterville.
There used to be a smelter there, but that was probably 50 years ago, maybe long enough to look it up.
Probably 50 years has been closed down.
Point being, you could, it would take a minimum of three, but realistically in today's world, obeying all the rules, five at a minimum, more like 10.
So this idea.
Silver Valley.
Is this in California or where are you talking about?
I'm in Washington State.
I'm talking about Idaho in Kellogg and Wallace, Idaho.
Oh, okay.
Okay.
So the government of Idaho would not be as crazy restrictive as California or even Washington.
There would be green light.
But even with the green light, it's still going to take years.
Okay.
And then is there enough silver?
Is there potential for the U.S. to meet its entire domestic supply chain with domestic mining and refining if we decide to invest in that?
No.
There might be enough in theory.
In other words, let's say I know a mine in Mexico that's probably got a billion ounces of silver.
That's one year supply, but you can't mine it at that rate.
You can't mine a billion ounces in a year.
So if you went full bore on the Silver Valley and maybe some other places in Nevada, U.S.-centric, you would not be able to meet the flow rate.
So if you need 200 million ounces a year and you've got 10 new mines going at an average of 10 million ounces a year, which is a pretty healthy silver mine, you're still short by 50%.
Okay.
Follow-up questions.
I'm really going to tap into your mining knowledge here.
I hope you don't mind.
But silver is usually the byproduct of mining for other metals, right?
Like zinc or copper, I think typically.
So in the United States, the economics of mining, what could a U.S. mine theoretically produce silver for in terms of a cost per ounce?
Well, they all are sustaining costs generally across the board for what we call primary silver mines, which are copper, silver.
But the bottom line, the bottom line means most of the net revenue comes of sale of silver, not sale of lead or zinc or copper.
So we consider those to be silver mines, which they are.
In those cases, what was the question?
How what?
Well, what's the bottom line cost of what you do for?
All in sustaining costs, about $30.
So that, okay.
And then in Mexico and other places, I assume that's a lower number.
Usually it's lower, yeah.
All right.
So it seems like that's a huge investment opportunity if someone could get past the red tape.
Yeah, it is.
But also, you got to remember how volatile silver is and how many times these guys have been burned.
You know, you go in and you get a multi-multi-million dollar project, maybe $1 billion to get this thing into production.
It's going to take you three years.
And all of a sudden, the bank says, well, wait a minute, I can't loan you the money.
Silver just went from 124 to 78 in one day.
Are you kidding me?
You're not going to get a loan from us.
Right.
So financing is a big part of the problem, but also expectation of volatility.
Yeah, and where is it going to be three years out?
I mean, that's the problem or five years out.
And that's the problem with the cyclical nature of commodities in general, mining in particular.
You know, no one's got a perfect crystal ball that five years from now, graphene won't be substituted in solar panels for silver.
I'm not saying it will be, but if you're thinking like a bank, which I don't even want to think about, sorry for the humor.
But no, you got to put those things into account.
And that's where it's so difficult, even outside of the U.S., to put a mine into full production in a, let's say, timely manner.
It's done more efficiently outside the U.S. in most cases.
But nonetheless, it's not something that isn't well thought out.
Usually over budget.
Usually, you know, here's the budget to build the mine.
And then, of course, it always has overruns for whatever reason.
Isn't this kind of screaming for government-backed loan guarantees?
It would be.
Oh, yeah.
That's why you're going to see this, you know, what we've heard so often, Mike, this public-private partnership thing.
That's what's going on with the critical minerals.
It's the government and some private people coming in with another, you know, billion or two, I think.
It was $12 billion.
They're going to add a couple billion from private people or private entities.
And I think you'll see the same thing here.
I mean, we've moved more and more to socialism.
And, you know, you've probably done as much in the philosophical change in the nature of our republic than anybody I know.
But I don't want to get too far off topic.
But no, that's what's going to happen, Mike, exactly right.
And then you're just going to see, let's say, like fracking.
In the fracking world, when the government decided we can frack and get oil out of these rocks, what happened?
Well, the Clean Water Act got null and void throughout those states.
So it could be something similar to mining industry where this EPA law about clean water gets null and void because we need the material so much.
So it's such a demand.
I don't like that, by the way.
I mean, I want to be on record, but I think it was wrong to do that.
But this is the kind of hard push the government can do.
You know, it's the animal farm.
All animals are equal, except some are more equal than others.
And we're the federal government.
We need it.
So we're going to mandate.
You know that law that we passed?
No, we don't need it anymore because we need more silver.
Well, right.
And every nation has to make a series of choices between protecting the environment versus having silver and rare earths.
Really?
I mean, mining can be done obviously more responsibly.
It can be done in a more eco-friendly way along a spectrum.
But there's nothing friendly overall about digging up a bunch of land.
Need for Responsible Mining00:15:16
I mean, it's going to, you know, you're digging up a bunch of land.
It's just, it's going to look like a mess at some point, no matter how you do it, unless it's all underground.
That's right.
That's one of the reasons I think Mexico has deterred any open-pit mining.
And, you know, I live, you know, where I live.
And, you know, you go to Montana and, you know, there's some really ugly places that were mining town because they were never restored back to, you know, the pristine conditions that they started at, which is required now.
But in the old days, no.
And it's, you know, they're not pretty to look at.
I admit it.
Yeah, yeah, yeah.
Missing the side of a mountain or whatever.
Let me ask you this question.
Out of the, how much of the rise in silver valuations that we've experienced in the last, let's say, 14 months, how much of that has been due to the monetary demand side?
Putting the industry aside for the moment.
In your mind, have you separated those two?
Or could you?
Yeah, well, I'll answer the question.
I'll see if it's to your satisfaction.
So all markets move at the margin.
And the margin is, well, what's the disposable income you might think of?
So, you know, when you're bidding at Sotheby's for a Rembrandt, it's the bidder, the last one that gets it.
And so the last demand on silver is an industry.
Industry is the demand that won't go away, that's required, that continues onward and upward over the last 25 years.
So that's a constant almost.
So that doesn't vary.
So what varies the price is something who keeps bidding it higher?
And who keeps bidding it higher is monetary demand.
And that's why even though monetary demand is maybe 10 in really big years, 20% of the total market, with 80 or 85% being industrial jewelry, silverware, that little bit, that 10 or 20% is what moves the price higher because I demand silver for safe haven status.
And the industry says, well, I got to have it too, regardless of the price.
And then they start feeding on each other.
So it really is the last buyer.
It's the monetary demand.
It moves it higher and higher.
Well, but hold on.
I'm not sure I understand your answer there because I think you were also giving examples of industrial demand.
Well, it's both.
I mean, yeah, and I don't want to back up, but it's whoever the, so it feeds on each other.
I mean, you could, you know, plot it out in a way.
I mean, you could say, well, all right, this investment fund came in and bought X amount of silver and now the price is this.
And then the industry says, God, we got to stockpile some.
I'm going to outbid them and go higher.
So it could be a bidding war, which is what I've said on other interviews, but it's the marginal buyer.
It's who's willing to pay for it at the end.
And, you know, really, you do make the case better than I did, Mike.
It could be either.
But what's the biggest variable, I would say?
It is monetary demand, not industrial demand.
I mean, everybody says, I'm not buying silver at over $100.
It's too expensive.
It's coming back and puts their hands in their pockets.
And even the floor traders, which don't exist, but even the futures market guys go away and take a vacation for a month.
So if there was no demand on the monetary side, which of course is ridiculous, but as a thought experiment, if you did that and you only had industrial demand, the price would tell us, you know, if people in the industry are just buying it on an as-needed basis or buying it as a as-needed plus stockpiling for surety of business purposes would tell us that.
Okay.
That makes good sense.
And I also want to circle back around to something you said earlier about solar panels and being able to potentially replace the silver with something else.
You were just speaking theoretically, I know.
Oh, yeah.
I've actually looked into that.
And what I found out is that there are Chinese companies that are experimenting with using near-zero silver in solar panels.
The problem is then they give up the energy efficiency per square meter of the solar panel.
So, in other words, you will be able to have silver-free solar panels, but you're going to need a lot more land and a lot more other stuff like the aluminum frame of the solar panel and more wiring because you're covering longer distances.
So, then your costs go up on the copper and the aluminum for the conductors and the wiring.
You know what I mean?
It's like I took the silver out, but it's costing me 20% more anyway.
No, you're exactly right.
I mean, just to digress for a moment, but you know, I go to a lot of investment conferences, and about a decade ago, one of the display trade show booths people with a mining company or a project came and got me and kind of escorted me over there.
They really want to talk to me and my team about their copper-based solar panels.
Well, I followed their story, and it really never materialized.
Well, see, this gets to the data center question.
So, data centers in the U.S., as you know, are having a very difficult time finding power.
And I've also looked deeply into this.
The gas turbines have a multi-year wait time.
The power grid is already at capacity for the eastern states.
And the fastest way to provide power is to build solar.
I know.
I'm laughing.
You know, and I know.
Sorry, I can't help it, but go ahead.
Well, okay, but two things about that.
Number one, you need a lot of land because these data centers are run like gigawatts of energy going into the AI training.
So, you need a big farm like a thousand acres and fill it with solar panels.
But then the sun doesn't shine 24/7.
So, you need batteries.
You need batteries to grid shift, and then you need triple the solar capacity of what your data center is using at minimum, triple because of rain and night and things like that.
So, then you need all this battery technology, and then the batteries end up the most efficient ones coming up from Samsung use silver.
So, you're back to silver, you know, like silver is the irreplaceable element in this whole chain.
Well said, it's very interesting.
I mean, you know, I just was on another interview earlier, and uh, very, you know, conservative, not hyperbolic in any way, uh, fund manager, money manager, brokerage house.
And he said, you know, what do you, me, think about the silver price for this year?
And he said, You think it'll go to 200, as one another well-known commentator has said.
And I said, I don't think so.
Certainly, I don't know, but I said, I don't think 150 is out of the question for this year at all.
I mean, we already hit over 120, and we're already back to what 8587 is doing in our interview.
Silver is strong and getting stronger.
And we keep saying that it sounds perhaps hyperbolate, but it's not.
It's a required, essential, irreplaceable asset required for a high-tech society, period.
And that let it sink in.
What else are you going to do?
You can experiment with graphene.
You can talk about copper, solar panels, and all this stuff, but the march goes on.
And if you do a full analysis as you just outlined, it seems to come back to silver anyway.
Right, right.
I've even been critical of some of the people I call the AI optimists.
And I mean, in essence, I'm an AI optimist in some ways, but there are AI utopia people who think that AI alone will solve the problem of all critical minerals.
And I don't understand how that could even work because the minerals are still necessary to run all the AI data centers.
The robots have to be made with these minerals and rare earths, and they all need battery packs, and all the drones need battery packs.
And just on and on, whatever you want to build in the world, you're going to need physical elements to build those things, especially if they're electronic.
Oh, absolutely.
Well, there's a guy named Craig Timsdale, and he boiled down the strategic mineral situation.
And what he talked about, of course, is that availability is more important than price.
The governments will intervene directly and indirectly, as you've already talked about.
But stockpiles are insufficient.
Years and just-in-time inventory have left nations exposed.
Rebuilding stockpiles are beyond our ability almost.
You can't just flip a switch and create the supply.
Environmental permitting and capital constraints we talked about mean persistent shortages.
So silver is at a crossroads of monetary demand, industrial necessity, and strategic vulnerability.
The key takeaway: strategic metals are transforming from free market pricing to security-driven allocation.
And we could see where the government says, wait a minute, they already said there's a floor on these critical minerals.
What if they set the floor of silver at 100?
Okay, I don't think that's unreasonable.
Well, that's the lowest of them.
All right.
Now, what do they do?
Well, it's security-driven.
What does that mean?
That they get to allocate what's in the SLV and some of these other holding ETFs that hold physical silver for strategic purposes?
I don't know, Mike, but I wouldn't rule it out.
Yeah, no kidding.
Kind of a brokerage-level confiscation, but not really.
I mean, they get paid, but the government says you have to sell it to us.
Yeah.
It's not quite confiscated.
We're stacking silver because we want to be out of the paper period.
Right, exactly.
Okay, as we're coming up on the end of the hour here, I want to give you a chance to talk about what you offer at your website, themorganreport.com, because you've helped many of our listeners over the years.
You want to talk about your site?
Yeah, so you don't have to be a member.
I mean, first of all, I give a free newsletter.
You can sign up for that as step one.
This is a three-step process.
We've broken it down pretty simple for everybody.
If you're new or if you're not, you can go on the website.
Step one is get the free newsletter.
Step two is watch a documentary or two, The Four Horsemen, which is an overview of the end of empire and the Silver Sunrise, which is a critique on the fear, stress, and money, fear, stress, and control that money has in most people's lives.
And step three is more if you want to become a paid member.
And you don't have to.
Some people just hit the consultation button and they want to have a one-on-one for 30 minutes.
You get a lot done in 30 minutes of how not to get burned, where the best place to store is.
Do you need something overseas?
What are the restrictions going overseas and stuff like that?
I mean, there's all kinds of questions I get, but, and I'm not trying to sell the consulting service, but it is there because some people are unaware of it.
And they say, oh my goodness, I wish I would have known this before because you helped me so much on, you know, what I wanted to accomplish.
Yeah.
And I just want to mention that's a link on the top of your site, consultations right there.
So, yeah, that's definitely worth exploring.
You've helped many of our people.
Okay, so you notice I haven't asked you to predict the price of silver because that seems like a pointless exercise.
Right?
Well, I think I said it earlier.
I mean, my friend with the brokerage house, he's going for $150 this year.
I agreed with it.
Okay.
Yeah, that seems reasonable in my mind as well.
But as the final question to you, though, rather than a price prediction, what do you think, can you predict the dynamics of the fundamentals, the supply and the demand side?
Like, what big changes do you see happening this year in supply or demand?
I see even greater awareness from the general public on the precious metals at large, silver in particular.
And I think we're going to see retail come back into this market where they realize that this may be one of the very few asset classes that puts you outside the boundaries of the traditional financial structure.
And people that appreciate what I just said will actually take action because as we get to the end of the end of the age of empire, the end of the fiat money fiasco, people are going to be coming more and more self-reliant, which is you as put the health ranger moniker on you has been instrumental.
In fact, that's how I discovered you was as a health ranger.
And then, you know, so much more than that.
And I knew you were.
It's just that, you know, having the honor of being able to be with you on these interviews, you know, we are bringing important information to people across the board, whether they take action or not, we have no control over.
But as things become more and more difficult, the more you can become self-reliant, and the community is very important.
I want to bring that out as well.
But the more your community can become self-reliant outside of the normal structure that we're used to relying upon, as the grid becomes more vulnerable, as security becomes more difficult, as the fluctuations in food and energy cost more and go up and down.
You really have to take a deep breath and get grounded and realize that we're in a situation that demands some real heart-to-heart, head-to-head community that can help each other in, let's say, the trials that I see ahead.
Yeah, well said.
I'm glad you mentioned that.
And it seems like that decentralization away from the central authorities and who print, they keep printing currency, obviously, which devalues everybody else's currency.
But decentralization is one of the key themes.
That's why I have the show, Decentralize TV.
So, David, look, I just want to thank you for all that you're doing.
And you've helped so many people over the years.
You've always had a very reasoned approach.
I've learned so much from you over the years.
And I'd like to think that my approach right now has been inspired by your approach.
It's like, keep the emotions out of it.
Do your research, dig, dig, dig, find out fundamentals, and then stop listening to the crowd because the crowd, they're all insane or they're panicked or they're driven by greed.
And all those things will get you into trouble.
Gifts and Bonuses Available00:06:04
Right?
Exactly.
Yes.
Yeah.
Well, thank you so much.
Anything else you want to add before we wrap this up?
No, I don't.
Just keep on doing what you're doing.
I'm on your mailing list.
I see you've put out a lot of specials.
You usually do.
And, you know, beyond silver, I mean, really, if you're kind of just making ends meet, the best thing you can do is have an extra supply of food.
It's a no-lose bet, especially if you can get it on a sale price.
And just be good to each other.
You know, we, whatever separates us is not what we should focus on.
We should really focus on more of what makes us, you know, together than apart.
I mean, we are all Americans and we don't have to agree on everything, but doggone it.
I think we really, when it gets down to the basics, we all want to be honest, truthful, and care for ourselves and our families.
And believe me, the government may put up a big facade that they care about you, but the reality is you don't.
We've got to care for each other.
Yeah.
Well said.
All right.
Well, stand by, David.
Don't disconnect.
I just want to tell the audience, thank you for watching.
That's DavidMorgan.
ThemorganReport.com is the website.
And of course, you can catch more of my interviews at brightion.com and articles at naturalnews.com.
And David, I will do an article based on this interview.
And I'm also, I've got, oh, I forgot to tell you, David, I created my own Asian guy avatar.
My Asian guy is named Mr. Huang, and he's an AI avatar.
He's older and wiser than the original Asian guy.
And Mr. Huang is the economics guy, and he's got a lot of great things to say about precious metals.
So you're going to see Mr. Huang rolling out here soon on my platforms.
But I'm not trying to trick anybody.
I'm like, yeah, he's AI avatar.
And basically, he's trained on everything, like he's going to be trained on this interview, as well as everything else we've ever done, David.
So welcome to 2026, right?
The age of AI avatars.
Okay.
Well, no one can replace you, David.
So thanks for being who you are and stay connected.
And we'll talk again soon.
All right.
Thanks for watching everybody.
Get ready for this Valentine's day by giving the gift of great nutrition to those you love.
Here at healthrangerstore.com, we've got a special sale for you to get those gifts with some bonus items.
Now, this sale runs February 3rd through February 6th from 11 a.m. Central on the 3rd all the way to 11 a.m. Central on the 6th.
And if you go to healthrangerstore.com/slash Valentine's, plural, you know, with the S on it, then you're going to see all of our specials.
Now, we've got a lot of items on sale.
Many of them are on sale for up to 20 or even 30% off in some cases with our third-party vendors.
Got a lot of extra items that are back in stock as well.
And we've got bonuses for you.
So if you purchase $199 or more, you get this collagen stick pack product, which has 14 stick packs in it, all laboratory tested, really outstanding clean ingredients.
You get that free of charge.
That's what you're seeing on the left there.
If you spend $2.99, then you get both that and the chocolate super protein, which is formulated on the Boku protein product line.
That's available for you for free.
Combined, those two are worth $70.
So you're getting quite a bit of value back.
You can use those as gifts or you can use them, enjoy them yourself.
That's up to you.
Some of the items we have on sale include the all-in-one seed kit, 30% off.
Also, the backyard seed kit, great for getting ready for springtime planting and food preparedness.
A lot of products at 20% off, including our Omega-6 healing cream.
We've got the Transdermal C serum and many other items.
We've got 20% off on our super protein, our plant-based zinc, our golden flax seed powder, and so much more.
And then at the 15% off level, we've got the 24 karat gold liquid gold nourishing oil from Nahaya, as well as we've got at 10% off, we've got bamboo, three-piece towel sets, bed sheet sets with bamboo cotton, and many other items there that are available.
We've got also 100% organic cotton kitchen towels from Delilah Home.
We've also got all the Bearded Brothers, the yo bars, the yumster, the mini, the cookie dough, chocolate brownie.
Oh my goodness.
We've got almond butter crunch and almond butter jelly bars from regenerative organic certified companies and so much more.
So check it all out at healthrangerstore.com slash Valentine's.
In any case, you know that everything that we offer at healthrangerstore.com is laboratory tested.
It's formulated with pristine ingredients.
And also your support of us helps support this platform.
All of our free speech platforms and our free AI platforms that are spreading knowledge and helping to decentralize information away from the central controllers.
So by shopping now, get your Valentine's Day gifts early at healthrangerstore.com slash Valentine's.
Not only are you giving the gift of great nutrition, which is a great way to express love towards others.
Hey, I'd love you to be healthy.
I'd love you to have amazing food.
Love to help boost your nutritional intake.
But also you're helping us create the free tools that help keep you informed.
So thank you for your support.
And remember, this is only February 3rd through February 6th, starting at 11 a.m. on the 3rd Central Time at healthrangerstore.com slash Valentine's.