Huge News From LBMA & Comex! If You Own Gold & Silver, Watch Now - Francis Hunt & Bill Holter

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[00:00:00]And that's very much what China appears to do. Uh give you a little bit on the the record March uh imports on silver and the fact that US on the product level particularly category didn't have a record trade deficit on account of massive gold sales uh over 5 months to China. Give us a comment on uh that as well. Bill, what's your take?

[00:00:20]>> Uh you mentioned China. China is no longer exporting any silver to the world. So you're, you know, you're looking at, uh, then that's been in a structural deficit for over 5 years. So you're, you know, you're looking at a supply and demand situation. It's unbelievably bullish. Yet, you know, people are ringing their hands because silver came down from $120 and gold came down from $5,400. Well, I mean, think about where we were. Think about where we came from. Gold and silver deserved and needed a pullback. It needed a correction. Now, did did silver need a 50% correction? In other words, trying to cap the rise in gold and silver to disguise, if you will, the collapse of the currencies.

[00:01:01]>> The global monetary system faces a critical transition, putting precious metals at the center of the debate. Bill Holder, an expert in systematic risk, and Francis Hunt, known for macro and technical market analysis, discuss why gold and silver may be on the verge of historical repricing. Bill notes that rising Chinese demand, a persistent silver supply deficit, and escalating pressure in paper markets expose deeper systematic issues. He emphasizes that silver shortages and excessive leverages are underestimated risk for investors.

[00:01:36]Francis Hunt notes that when measuring assets against gold instead of fiat currencies, many traditional assets already look weak, which could signal trouble for the broader economy. This is why each correction in gold and silver signals increased market tension, not the end of the long-term uptrend. These pauses may proceed further major upward moves. Before we discuss this, please hit the like button, subscribe to the channel, and ring the bell icon. Thank you and enjoy the video.

[00:02:07]>> Yeah, it's people not realizing what it is. Would you say there's a in actual fact rather than people being upset they should see it as the discount window that should be exploited and that's very much what China appears to do. Uh give you a little bit on the the record March uh imports on silver uh and the fact that US on the product level particularly category didn't have a record trade deficit on account of massive gold sales uh over five months to China. Give us a comment on uh that as well Bill. What's your take? Uh yeah, you're I mean you're talking about supply and demand and there's obviously there's more demand than there is supply, but the mining the mine supply is barely moving higher. In the case of silver, it's not moving higher at all.

[00:02:50]Uh you mentioned China. China is no longer exporting any silver to the world. So you're, you know, you're looking at uh then that's been in a structural deficit for over five years.

[00:02:58]So you're, you know, you're looking at a supply of demand situation. It's unbelievably bullish. Yet, you know, people are ringing their hands because silver came down from $120 and gold came down from $5,400. Well, I mean, think about where we were. Think about where we came. Gold and silver deserve and needed a pullback. It needed a correction. Now, did did silver need a 50% correction? No. That was held along with paper contract. the CRV this past uh Wednesday and Thursday I was looking at the CRV uh chart and that's clearly breaking out broken out and all the blocks are in place now you can clearly see the block for stagflation whereas uh the real economy slows inflation heats up and asset prices declining um people will say oh well asset prices aren't declining well yeah real estate is stagnating commercial real estate's already collap the bond market which that's most important because everything runs on credit the bond markets around the world are collapsed and and the currency markets are collapsed and you can say that because by just looking at the price of gold nothing else nothing else matter it's gold versus currencies and no gold didn't go up that 1 ounce of gold is still just 1 ounce of gold that's all it is it's the measuring stick and what it measures are currencies and currencies have collapsed and the dollar has lost roughly 50% of its value purchasing power value in two years from going from 2500 to 500.

[00:04:25]>> Yeah, brilliant points. And I want to make clear when you said assets, you're talking about the financially leveraged asset um rather than the commodities and the monetary >> paper ass which is property as well because of the leverage. Everyone's got leverage to buy in. It's a commercial real estate and absolute busted slush.

[00:04:44]So actually in my opinion and I think it sounds like we're we're in agreement here. The everything bubble bar the NASDAQ stock market really but if you look at it in gold ounces it's already started to turn despite this rally uh is actually contracting. The everything bubble is contracting providing you're using the gold ounce which is our our point of call as your unit of account on the basis that all other fiats are in chronic debasement right now. Well, Francis, even if you don't use gold as the yard stick, which it is, even if you use the dollar as the yard stick, if you look at the the stock market, the breath has been horrible. The amount of new new 52- week lows, there's no way when you have a market making new highs, you should have this many 52- week lows. So, internally, the markets stink. The generals, the top of 10 or 20 stock, are carrying the averages while the the soldiers are retreating.

[00:05:35]>> Yeah. Yeah. And that's a function of the Black Rockck ETF and everybody getting the lowcost ETFs forgoing their voting proxy to a big asset manager like Black Rockck or the others State Street etc. Um and uh success breeding further success to the point of hypervaluation.

[00:05:53]Is there anything else you would add to that? Uh I think that that covered it pretty much >> and that should mean that at some point when uh gravity finally bites with the you mentioned such a good point. You said interest rates are rising. All forms of traditional valuation I mean we had Amazon going >> based on interest rates.

[00:06:09]>> Yeah. Exactly.

[00:06:11]>> All all forms of traditional valuation are based on interest rates. When interest rates go down, valuations go up, rates go up, valuations go down. Uh the fact that interest rates have gone the fact that we have the valuation levels that we have today and interest rates have gone up makes those valuation levels even more absurd.

[00:06:29]>> Correct. It's you know the weighted average cost of capital was you know the term that that's the basis of every MBA.

[00:06:36]Uh and go ahead.

[00:06:37]>> I was just going to say one other thing.

[00:06:39]Uh you mentioned the everything bubble.

[00:06:41]Understand that the leverage in the gold and silver market and in many commodities is to the downside. It's the short side. So when the bubble bursts, there's got to be some forced buying in gold, silver, and and other commodities.

[00:06:52]Because if you go back to if you go back to 1987 when the market crashed and they used $6 million went into the value line index, that was the only index that was open. And that's what turned the market a whopping $6 million. They learned that they could control markets with derivatives, with leverage bet. and the the uh president's working group on financial markets aka the plunge protector has at it every single day in every single market ever since. So they've financially engineered using very small amounts of capital to control entire market pricing structure. They they levitated stocks they they levitated bonds. They levitated I mean real estate was levitated because interest rates had gotten so low. But when it comes to real assets like commodities and in particular gold and silver, that leverage is is selling short. In other words, trying to cap the rise in gold and silver to disguise, if you will, the collapse of the currency.

[00:07:50]So when the bubble bursts, the ultimate move you you probably will see first move downward in gold and silver when everything collapsed, but the ultimate move is going to be the upside. Shorts have to come >> and and violently. It took me the second take to understand what you were actually saying when you said the leverage is to the short side on the metals and that was a beautiful and I want to draw a line under that for everyone uh watching because I haven't heard it put that way but essentially if you've got a dividing line here you've got a floor on this side and a ceiling on this side and they are they are co-managed by the same money and the same leverage. The floor is keeping the stock market and all the leverage assets up and the ceiling is keeping the precious metals down. lose the floor, you lose the ceiling. And that's when you get the seessaw suddenly tipped violently uh in that way. And that was a beautiful explanation.

[00:08:39]>> Conversely, conversely, if you lose the ceiling, you lose the floor.

[00:08:43]>> Yeah. Which it doesn't matter which one's first. Yeah. Uh that's a Yeah, that was a really fascinating. I love that. Uh the leverage is to the short side on that.

[00:08:51]>> Leverage is central theme. Bill Holder explains that inflated debt and leverage proper paper assets while prolonged shorting has suppressed gold and silver.

[00:09:01]A loss of confidence in the system could trigger a sharp repricing event. Francis ties this to the broader asset bubble.

[00:09:10]observing that while stocks, bonds, and real estate appear expensive in dollar terms, many assets have been losing value when measured in gold. The metals market's significance now comes from signaling distrust in fiat systems, debt markets, and central bank credibility.

[00:09:30]If this distrust grows, gold and silver could experience much sharper gains.

[00:09:35]Now, let's get back to the interview.

[00:09:37]when and for people that have been uh out of the market that are wanting some hope, what are your predictions and it's hard I don't know on what basis you would do a number. I'm a charter so I have my own charting methodologies. But where do you think gold ends at the end of this collapse event? Uh so the peak bottom you know the spill the the 2009 moment only far larger I'd imagine along with some elements of the 70s only more extreme because you're far more indebted. Where does gold end up and is it more a statement on the dollar than the price? But where would you say in terms of predictions um once the dust is settled on the collapse and does it also I'm making this a bit of a long question sorry I should make would break it up into two but does it also preclude that we first going to get a demand destroying event collap the stock market collapse all of this and they might get a short dip in the the rates and they'll quickly get a bunch of bonds out uh and that we'll have that a further dip in gold and silver before we get to that eventual number that you'll give me your forecast for >> yeah you're asking for a final number.

[00:10:40]Um, a it depends on what currency you're asking and questioning, but I'm going to assume in dollars.

[00:10:46]>> Yeah. Dollar.

[00:10:47]>> Uh, in in dollars, there's no way to answer that. I I would say uh approaching infinity because we first off, we don't know how much gold the US has.

[00:10:56]>> Yeah.

[00:10:56]>> They say 8,300 tons. There's not been an audit since 1956. Yeah.

[00:11:00]>> Is it half of that? Is there a quarter of that? 10% of that? There's no way to know. So you don't there's one part of the numerator denominator that you don't >> I'm going to say zero by the time they're done I'm going to say zero >> then the answer is infinity.

[00:11:13]>> Yeah. Yeah. Yeah. In dollar terms then it's it is uh virtually infinite because then essentially the currency is unbacked >> right. Well it is unbacked.

[00:11:20]>> I mean it doesn't matter whether we add the 8,300 tons or not because that's not even a trillion dollar and on and off book uh debt and obligations you're talking 200 trillion. So less than a trillion is not going to support 200 trillion.

[00:11:33]>> No. So the other side of the equation, we have no idea how much new money supply is going to be issued. We have no idea how much new debt is going to be issued. There's there's no way to know.

[00:11:42]But the real answer is it approaches infinity because mathematically the the the debt problem the debt can't be paid.

[00:11:49]The money does not even exist for that debt to be paid. So they've got to create more and more and more money. So >> So say that it's pre which year 90 is it 1993 or uh even before that? I didn't do the volume cut out a bit there. The signal >> pre 1933 gold 193 >> the liberties were were produced I think 19 or 1850 to 1907 and St. Gardens were produced from 1907 to 1932 or >> so on that basis that it affords an additional protection. I'm sure it may well have an additional premium attached to it.

[00:12:24]that was historically historically they've had a 20 to 30% premium over spot and for that reason and right now because you've had you've had uh a lot of selling you're seeing silver you could buy junk silver below spot and if you go back three years ago it was $13 over what's happening in in silver is that the dealers are not holding it there any sales they're sending off to refiners are melted down but the refiners are are are backed up 6 to 8 weeks So the dealer doesn't they the dealer pays out but they don't get paid for six to eight weeks. So they they crush the bids. I mean the bids are like eight nine $10 on their spot and that's the dealers carry that for a month or two. And the same things happened with the pre-1933 gold. Um there's been a lot of sales of that and that's and this is a function of people selling uh because they need money. The the money on the street is is thinning out. You've got people selling and dealers aren't going to hold uh the various issues of the pre-1933 gold.

[00:13:28]They're actually sending those in to be melted. The bids are under spot, which is insane. You can buy them for the same or lesser price than an eagle. So why would you buy an eagle when you can buy a piece of history that will never be produced again? And they, you know, they're producing eagles every year. And again, going back to junk silver, that stuff hasn't been produced since 1964.

[00:13:49]And the fact that the the existing supply has put a refiner 6 8 week backlog builting this stuff down. Where are we going to be from now? Where's the supply going to? They don't vent today.

[00:14:00]>> Yeah. So actually it sounds like a very good recommendation and it sounds you're making a very strong case for buy junk silver.

[00:14:09]>> Yeah. Buy pre pre1933 gold. It's a no-brainer. Uh, excuse my ignorance on the states markets for both those numismatic coins, but are they still uh triple 9 or is there a little bit are they a little bit less pure? Is there a bit of copper in the gold or how does it work? Is it is it 39?

[00:14:26]>> Yeah. Yeah. The uh the pre-1933 gold is 9675 of 1 o. That's what you're creating basically spot. Uh the junk silver and that is not numismatic junk. You know, here the dimes and quarters are 90% silver. So if you buy if you have a $1 face amount is 715 of >> that seems like a really useful uh bit of information and intel for everybody to latch on. I if I was in the state side I that's where I'd be hoovering up.

[00:14:55]>> Yeah. And junk is going to be best. It's the best form for Americans to own because when this system it's not a question of if now when the system comes down you're going to want to have silver because that you could barter with silver. You really can't borrow with gold because if you do a trade with gold and it's above whatever you're buying now you're issuing the seller credit, he owes you money. But you can do it with silver and it 14 dimes equals 1 ounce.

[00:15:20]So you got 14 transaction with 1 ounce versus one with a silver eagle, a bar, a generic coin, a maple leaf, a crude brand, whatever. Junk silver hands down is the best coin for an American. And it's the cheapest bor there is. You can buy it on the spot.

[00:15:34]>> Yeah. And that's blow spot for the 90% content is it by way >> right. You paid nothing for the car.

[00:15:41]>> Yeah.

[00:15:41]>> This interview reveals that the real issue is eroding confidence in the fiat currencies and a growing sense that the global debt system is near its limits far outweighing day-to-day price shift.

[00:15:55]Bill Halter argues that gold does not truly rise in value. Instead, it reflects the declining purchasing power of currencies. A move from $2,500 gold to a significantly higher levels would represent a major loss of confidence in the paper money itself. He also warns that leverage across financial markets remains dangerously high, which could create shock volatility if liquidity conditions tighten. Francis Hunt explains that many major asset classes already look weak relative to gold. Even while stock indexes remain elevated, underlying market breath continues to deteriorate, that divergence often appears near major turning points. This is why gold and silver command intense attention, supply deficits, central bank buying, debt growth, and instability all point to a single long-term trajectory for the metals. For investors following gold, silver, and the global financial reset narrative, this discussion delivers a serious warning about where markets may be heading next. Share your thought about this interview in the comment section below. If you found this video helpful, please hit the like button, subscribe to the channel, and ring the bell icon. Thanks for watching.