BOB MORIARTY | I'm 100% concerned about a liquidity-driven market collapse coming soon!

Añadido: 2026-05-23

[00:00:00]How much of a concern is a liquiditydriven market collapse for you in the near future?

[00:00:07]>> Uh, about 100%.

[00:00:12]Okay, here's the deal. I went through the oil crisis 1973 and the oil crisis 1979 and they were nothing compared to this crisis. This is real. The government's being very quiet about it now. Even the price of oil does not reflect the damage that's already been done.

[00:01:04]Welcome back to Metals and Miners. I'm your host, Gary Bone. Today, we're diving into the fast-paced world of geopolitics, precious metals, mining, and the markets. We have a lot to discuss and work through. And today I'm thrilled to introduce Bob Morardi, the founder of 321gold.com, a leading resource for investors navigating the complex landscape of gold, silver, and mining markets. Bob, it's an honor to have you back on metals and miners. Welcome to the show.

[00:01:34]>> Well, it it's a pleasure and I I just wish something was going on in the world that we could talk about.

[00:01:43]There's really not much, you know, not much.

[00:01:47]>> All right. So, Bob, you have decades of geopolitical precious metals and market cycle experience. There's a lot happening right now due to the Iran war, the ongoing closure of the Straight Hormuz, and all the second and third order of effects that come with that.

[00:02:04]Also, Kevin Wars's appointment to be the new Fed chair, the polarization within our country and really around the world, and so much more. There is so much to discuss uh today, but before we do, what do you hope for those tuning into our conversation today that they'll walk away with after listening to it?

[00:02:23]Well, what I'm going to do is I'm going to criticize everyone.

[00:02:31]There is so much misinformation and disinformation.

[00:02:37]And strange enough with all of the stuff that's happened in the last uh two months, you can look at the mainstream media and realize they're not covering anything. Okay? The the mainstream media has flat blown it.

[00:02:57]And YouTube and a lot of individuals like you and me uh are the only source of information. Now, I'm not one of those guys who believes that the alternative media is 100% accurate because at best it's 50% accurate. But when the mainstream media is 100% disinformation, 50% accuracy looks really good.

[00:03:29]>> You are right. You are absolutely right.

[00:03:32]All right, Bob, let's start with the markets. The Dow is now a shade over 50,000. The S&P is over 7,400 at record highs. The Nasdaq is over 26,000 at record highs. The VIX is under 18 and the 10-year yield is a shade under 4.5.

[00:03:51]It really seems like the whole of the markets are just they're feeling good.

[00:03:55]They have little worries right now. What is your takeaway of the market setup?

[00:04:01]Have you ever been in the military?

[00:04:04]>> No, I have not.

[00:04:06]>> Okay. If you can imagine this, >> if you can imagine this, pretend you you watched a movie and you watch somebody throwing a hand grenade. When you pull the pin on the hand grenade, what happens?

[00:04:24]>> Gets ready to explode.

[00:04:25]>> The fuse starts and nothing. It's just sitting there looking stupid at you.

[00:04:32]Now, you do want to get rid of it fairly quickly, like four or five seconds, but for four or five seconds, there is nothing going on. However, after that four or five seconds, by every measure, the stock market is more overvalued than it has ever been.

[00:04:55]and the pin's been pulled and it's about to explode.

[00:05:01]>> Well, that's a really good segue into this question and the way you just painted that picture. Okay, so many are worried about some type of market collapse due to liquidity issues stemming from the lengthy closure of the straight and all the effects that come with that. You know, we have commodities experts out there that are telling us we're just weeks away from countries running dry on oil and even here in the United States sometime around July 4th.

[00:05:25]How much of a concern is a liquiditydriven market collapse for you in the near future?

[00:05:32]>> Uh, about 100%.

[00:05:36]Okay, here's the deal. I went through the oil crisis 1973 and the oil crisis 1979 and they were nothing compared to this crisis. This is real. The government's being very quiet about it. Now, even the price of oil does not reflect the damage that's already been done. Now, what Iran understands, but the United States does not understand is every single day the straight of Hormus is closed. You're 5% worse off than you were the day before.

[00:06:23]You said some countries are weeks away from running out of oil. No, they're not. Some countries are running out of oil right now. This is a catastrophe that easily has the ability to blow up the entire world's financial system. And depending on the decisions that Donald Trump makes in the next week, um it let me explain it in simple terms.

[00:06:54]When I was at high school, we used to talk about esoteric things. And one of the questions was, what happens when an irresistible force meets an immovable object? And that's exactly where we are right now. There will never be a ceasefire. There will never be an agreement between the United States and Iran because the distance between them is just far too great. Now, I'm not saying what it's right or what it's wrong. However, it's absolutely inconceivable that they're going to come to some kind of compromise because both positions are exactly the opposite of what the other person is willing to accept. Now, going back to high school, what happens when an irresistible force hits an immovable object? And the answer is immeasurable energy.

[00:07:58]Iran has the ability not only to shut down the Gulf of Moose, they can take out the entire Middle East oil infrastructure and should Israel or should the United States attack their infrastructure, that's exactly what they're going to do. Now, if the straight of Hormuz opened in the next 5 minutes next fall, we're going to have people starve due to famine and we're going to have people freeze because they can't afford energy. Do you know who Robert Pap is?

[00:08:43]>> Pape as in P A P.

[00:08:45]>> Correct. Exactly right.

[00:08:48]>> No, I don't think so.

[00:08:50]>> Okay. Uh if your readers will go to YouTube and put in Robert P. He is a professor at the University of Chicago.

[00:09:00]He's a consultant to several presidents and he's the only person who's actually said what we're really talking about.

[00:09:11]Let's go back to 1859 in Pennsylvania when oil was discovered.

[00:09:18]If you draw a chart that shows the increase in oil production from 1859 until today and you overlay it with a chart of population between 1859 and today the charts would be virtually identical. Now what that means is two important things. One is the population is energy dependent and two if you wanted to shut down energy 30% it implies you just killed 30% of the people in the world. Now Robert Pes the only person that I've heard say this he said it's so potentially catastrophic it could kill a billion people.

[00:10:15]Yeah, that's incredible. Um, when you put it in those terms, let me ask you this question. Um, so Trump landed in Beijing today. He's got a whole slew of people with him, banking leaders, tech leaders, um, industrial leaders.

[00:10:35]Two two parts. What do you expect to come of this? And would you would you expect all of those leaders to have gone if maybe there wasn't some pre-arranged uh type of arrangement already in place to some degree.

[00:10:54]>> Okay. Um, that's an interesting question and it's question people need to think about in regards to the first part of the question.

[00:11:08]Do you understand what it is that Donald Trump forgot to bring with him?

[00:11:15]Tell tell us >> his cards.

[00:11:23]no cards.

[00:11:26]Now, Donald Trump would like to play high stake poker. He's a big poker fan.

[00:11:33]But if you're going to play high stake poker, you better have some cards in your hand, even if they're bad cards.

[00:11:42]Now, strange enough, I think that bringing u Elon Musk and uh Black Rockck and and uh the head of Apple, I think that's more of an admission of weakness than it is a position of strength.

[00:12:02]Donald Trump lives in a makebelieve world. Uh Steve Jobs used to call it a reality distortion field. Okay, I I love that. That's such a great phrase. Donald Trump says stuff and he thinks because he says it it's true.

[00:12:22]I don't believe that there are lots of deals being set up. And frankly, because Donald Trump for forgot its cards, he doesn't realize the Chinese don't about the head of Apple, the Chinese about the head of Tesla, the Chinese Black Rockck for a really simple reason.

[00:12:45]They didn't forget their cards. They've got a whole hand full of aces. Oh, okay.

[00:12:52]Don, you're gonna threaten us?

[00:12:55]How about those 300 F35 aircraft that cost 75 to $100 million a piece depending on the options that are being delivered with no radar because you have no gallium. Now we we got plenty of gallium. Okay, we're just not going to sell it to you. I was a fighter pilot. Okay. Now, in the Marine Corps or in the Navy, if you're flying a fighter and you have no radar, what's the synonym for the aircraft?

[00:13:36]>> Sitting duck.

[00:13:38]>> Uh, sitting duck is too easy. Anchor.

[00:13:42]They make really great anchors. And, and that's where we are now. That's a true story. Between now and 2028, they're going to deliver 300 F-35s and the F-35 has no radar. This is useless as tits on a more pig.

[00:14:00]So, we're in a really interesting situation.

[00:14:04]I guarantee there's going to be some hard talk from China because China understands how catastrophic the situation that Israel and the United States have created in the Middle East.

[00:14:21]and and Xi Jinping is going to tell Trump, you need to end this stupid war and you need to put handcuffs on Israel because there is no victory possible.

[00:14:36]You think you're holding cards. You're not holding cards. You don't have any cards.

[00:14:43]And it's strange enough Iran and Russia and China actually are are absolutely the victors. they're in far better shape as a result of this. But if you were the prime minister of Thailand or you were the prime minister of Venezuela or if you were the prime minister of Australia or you were the prime minister of Taiwan or you were the prime minister of Philippines, all of which have had catastrophic losses due to the lack of fuel. They're on the phone.

[00:15:20]nobody in the mainstream media is talking about. But you think the president or the prime minister of Thailand or Vietnam or Philippines is just sitting on their head saying, "Oh gee, I hope Donald does the right thing this time." No, there people with any sense are in a panic and they should be.

[00:15:43]And quite bluntly, JP Morgan just came out and said, "If this lasts through July, the economyy's through." Now, do you know who Robert Kagan is?

[00:15:55]>> Yes.

[00:15:57]>> Okay. Do you know what he just said in the Atlantic magazine?

[00:16:02]He said, "The war's over. We lost."

[00:16:06]Now, Robert Kagan is the foremost neocon Israel supporter in the United States.

[00:16:14]He's married to Victoria Nudan. He is the ultra scionist. And he said, "We lost the war. Iran doesn't even need nukes because they have control of the straight of Horus." And I was absolutely amazed if you said it or if I said it or if uh McGregor said it or Scott Ritter said it. So what? Of course, we have a vested interest for Robert Kagan to admit the United States lost the war.

[00:16:48]We had two KC135s shut down last week. Mainstream media doesn't talk about it all. We had two of the F-35s. most expensive defense program in world history shot down last week. We had a a attempt by the special forces of Rangers to seize the Iranian the Iranians. We had 10 aircraft shot down according to the United States Department of War. How many Americans have died in this war so far?

[00:17:27]>> Single digits, maybe. No, it's not single.

[00:17:31]13.

[00:17:33]Okay. The Iranians have destroyed something like 12 or 13 US bases in the Middle East. They've shot down two KC135s, shot down two F-35s, shot down 10 aircraft during the so-called rescue mission. I was a forair controller in Vietnam. I controlled hundreds of air strikes, hundreds of artillery missions.

[00:18:01]You can be a lousy shot, but if you deliver enough ordinance, you're going to kill some people. U do you know who Chuck Baldwin is?

[00:18:13]Chuck Baldwin is a a television preacher. Okay. I I don't subscribe or unsubscribe to what he says. Chuck Baldwin said 10 days ago that the United States is lying about the number of people who have been killed, that there's 500 coffins sitting in Germany and the government doesn't want to bring them home because they don't want the public to know how catastrophic this war is. Now, I don't know what the number is. I just know when as many rockets and missiles and artillery have been fired as been fired by Iran, there have been a lot of people killed and and quite bluntly Israel's doing the same thing not only in the war with Iran but the war with Hezbollah. uh Israel is suffering catastrophic losses and the very best thing that can happen and actually the only thing that's going to save the world economy is if those idiots say you know we got carried away we tried to do something we couldn't possibly succeed at and we're going to withdraw Iran is fighting for their survival and when somebody fights for their survival they're going to right to the death.

[00:19:37]>> Okay. Um so let's shift a little bit here. Energy you talked about um has a direct overlay with population going back to I believe you said the date was 1859.

[00:19:50]>> Energy also has a direct overlay with GDP. There's 200 years of history on that. Um there's obviously been this tremendous disruption of energy flows and a reduction of energy flows around the world. It's clear that nations not only need more energy due to AI, robotics, and the electrification revolutions, but they also need more energy because of redundancy because of what's taking place. They also need excess spare capacity in light of the closure of straight hormuz. They don't want to put themselves in this position again. So is the biggest beneficiary when all is said and done in the energy space moving forward, isn't it really nuclear energy and uranium to meet all those needs?

[00:20:38]>> Yes.

[00:20:41]>> Okay.

[00:20:43]Do you want to elaborate on that or just that's it?

[00:20:47]>> Yes. Yes. Yes. Yes.

[00:20:50]>> Okay. All right. Bob, after the the 2020 pandemic and all the related Fed money printing and during 2021 and 22, a wage price spiral was exacerbated by widespread global supply chain disruptions and a spike in oil prices following Russia's invasion.

[00:21:12]>> Stop right there.

[00:21:14]Nobody has discussed this, but you just hit the key.

[00:21:22]I was in computers as far back as the late 1960s when I was in the Marine Corps. I used to fly boxes of punch cards from Cherry Point, North Carolina up to Washington DC where the United States Marine Corps had one computer.

[00:21:41]Now you have more power in in your electronic watch than those computers had back then.

[00:21:50]Because of computerization, we now have a instantaneous supply chain. If Volkswagen and Stutz Guard is making an automobile, they want the alternator to show up five minutes before you bolt it on. Now, if you go back to CO, one of the biggest dangers of CO and COVID was total fraud, by the way. I'm not I'm not going to pretend that was real. It was total fake fraud. Vaccines couldn't possibly work. It was set up. It was a control issue. However, it did point something out. That was very important.

[00:22:36]And you just hit on it. It broke the supply chains. However, this is probably a hund times worse. Now, you not only need energy for our economy. You need helium, you need ura, you need phosphate, you need sulfur, and all of that comes from the Middle East. And when the straight of hormones was closed, we we shut down somewhere between 15 and 40% of everything that we need and it's busting the supply chains wide open. Now, as soon as we run out of stuff, uh let me give you an example.

[00:23:23]Um, I went to a website uh that talked about the potato futures market in Europe and the potatoes for delivery in November are up 700%.

[00:23:50]So the supply chains are being destroyed. Farmers in the United States are refusing to plant because they can't afford to because their costs are far higher than what they can get for their crops. So we are going to have famine.

[00:24:08]We are going to have people freeze and it's going to totally bust the supply chains. Every industry in the world is going to be affected by this. This is catastrophic and every single day it gets 5% worse.

[00:24:27]>> So is it your contention that the So back in 2122 um reported inflation was 9.9%.

[00:24:38]But it went as high as 15 or even higher than that percent uh by many metrics.

[00:24:43]John Williams, Shadow Stats, and others were doing the the real calculations and it was well over 15%.

[00:24:50]Are you expecting inflation to be lower than that this time? The same, higher?

[00:24:56]What What is your expectation for inflation this time around?

[00:24:59]>> Oh, it has has to be higher. Uh, strange enough and and and you're in the industry, so you understand this, too.

[00:25:09]Uh, I I was buying gold originally in 1967 at $35 an ounce. I have bought thousands of ounces of silver uh as as little as a dollar and a quarter dollar half an ounce. 40 years ago, I was buying silver in 2001 for under $450.

[00:25:35]I was buying gold under $2.75.

[00:25:41]Okay, everybody hates trick questions, but trick questions actually point out important things.

[00:25:49]If you take the price of gold 100 years ago and you take the high in January, how many times has it been multiplied?

[00:26:00]The price of gold in January was how many times higher than the price of gold 100 years ago?

[00:26:09]>> I don't know. I would have to see the data to be able to calculate that. So, sorry. Why don't you tell?

[00:26:14]>> Okay. 100 years ago, gold was $2067 an ounce. How much was it in January >> of this year?

[00:26:23]>> Yeah.

[00:26:24]>> Oh, almost 5600.

[00:26:26]>> Okay. 225 times higher.

[00:26:31]What?

[00:26:33]What?

[00:26:35]225 times higher. Nothing can go up that much. Actually, the price of gold and the price of silver and the price of platinum and the price of copper are all implying hyperinflation.

[00:26:52]So, we have a perfect storm where we can't grow food. If we could grow food, we can't get it to market because we haven't got any diesel. We can't use a computer because you can't make chips without helium. And we we've got a five-year-old with a loaded gun in the White House. Donald Trump is the reason you don't give loaded guns to five-year-old children.

[00:27:20]>> So the U, you know, this isn't a to be contrary, this is just to put it out there. The US is now um producing more oil than the next two countries being Saudi Arabia and Russia combined. I just saw that stat.

[00:27:39]>> Well, I'm >> I just saw the stat today. I'm just saying I'm just saying that the there have been several folks that I have had on the show in the energy space who have alluded to the fact that at some point if this gets to the point where there are global shortages that the United States will essentially pull up the ladders and say, "Yeah, we're not going to ship out as much oil.

[00:28:09]uh we're going to keep that for domestic use um and for domestic productive purposes. Do you see that kind of environment taking place?

[00:28:21]Or okay. Give me an estimate of what you think the average price of gasoline was on February 28th and then what the average price of gasoline in the United States is today.

[00:28:38]Yeah, it's probably almost a $2 difference.

[00:28:41]>> Dollar, it's probably up 35 to 40%. What What people tend to forget and those guys tend to forget is, yeah, we can produce oil, but if you want the oil, you're going to have to pay for it. Okay.

[00:29:00]Somebody wrote a very convincing argument. said, "Actually, the United States is in worse shape than China and Russia and Iran because the inflated cost of of fuel in the United States and fertilizer and energy, it's so high, we're paying a bigger price. So, yes, we've got energy and yes, you're going to pay through the nose for it."

[00:29:29]>> Okay, let's talk about the consumer here. Let me let me ask the question and then you can share. Okay, I want to get through the whole question here on this one. So just looked at Dr. Yard Denny.

[00:29:40]He's a famous economist. He's been around for many many decades. He just shared this information. It was really interesting. So real wages have been falling over the past couple of months as energy prices have soared. Average hourly earnings have risen 3.6% 6% year-over-year in April and headline CPI inflation increased 3.8% that month. Yet consumer spending has remained resilient. The red book same store retail sales index which excludes gas station sales rose 9.6% year-over-year in the week ending May 9th. That's the strongest retail sales index growth rate since 2021, late 2021, when all those stimulus checks were sent out. And it's even higher than last week, which was 7.8%.

[00:30:34]So, the consumer spending trend is getting higher and it's gaining steam in terms of percentage. In your analysis, what is making the consumer so resilient in the face of all these headwinds and how long can that last?

[00:30:49]Uh, strange enough, I wouldn't describe it as I'd describe it as the same thing that happened in Germany in 1922 and 1923.

[00:31:02]And people as soon as they got paid, rushed out to spend the money.

[00:31:08]Hyperinflation, it's not a lot of inflation.

[00:31:13]hyperinflation. It's when no longer people no longer trust the currency. And I think we're there. Now, you you raised the issue of of the uh CPI when the PP I just indicate >> in 3 to four months that CPI is going to go up quite a bit.

[00:31:37]>> Yeah. But the PPI Okay. When the CPI was 3.8% 8% the PPI was over 6%.

[00:31:45]>> That's what I'm saying. It's it's saying >> Yeah, exactly. It It's going to drag it up. And I I'll give you another thing that nobody's talking about.

[00:31:59]If Kayan's right, and I'm absolutely convinced he's right, what's going to happen to the petro dollar?

[00:32:10]>> Yeah. It's going to go by the wayside.

[00:32:12]It >> It's gone.

[00:32:14]>> It's an artifact.

[00:32:15]>> And I'll go even one better. There was a period in the United States where the railroads were the economy.

[00:32:23]And there was a period in the United States where shipping was the economy.

[00:32:27]And there was a period in the United States when aviation was the economy.

[00:32:32]Period in the United States when the automobile industry was the economy.

[00:32:37]What's the economy right now? tech software. So, hey Bob.

[00:32:42]>> No, no, it's worse than that. Worse than that.

[00:32:44]>> US treasuries. I mean, Bob.

[00:32:46]>> No, no. Military industrial complex.

[00:32:50]>> Okay. Some of some of your questions that you have for me, which I appreciate you um interviewing me.

[00:32:58]I I actually have some of these questions for you as we go along. Let me let me shift us back over to the to uh to what's happening now with the treasuries and with the Fed and with Kevin Worsh coming in. So the Fed has expanded its balance sheet by 200 billion since mid December. It's been kind of quiet about it, but that's what they've done. And it's more than a 500 billion annual run rate. That's a lot on a 6.5 to7 trillion balance sheet. The top five foreign holders of treasuries, they're either flat in their holdings over the last 12 months or they're down in their holdings over the last 12 months. The US budget deficit is on a $2.5 trillion annualized run rate. And the interest payments are on a $1.3 trillion annualized run rate. Plus, there's something like $9 trillion in maturing treasuries that were taken out largely during the pandemic era at near zero% interest rates. We're not even close to that today. So, essentially, if yields remain where they are today, which they're under pressure, then we're going to look at the interest payments going from 1.3 trillion to somewhere around two or more trillion. Can the budget can the US budget handle these higher yields or do yields need to come down? And how would that even happen in this inflationary environment?

[00:34:25]>> Okay. Well, here here's what funny.

[00:34:28]People think the Feds have something to do with with uh inflation and bond and they don't.

[00:34:36]>> The short end. The short end is where it's all >> happen. Only the short end. And strange enough, when you put all your borrowings in the short end, you set up a time bomb when interest rates go up. Tell us what's happened with with the 5year, 10 year, and 30-year interest rate in the last three days.

[00:34:59]>> Records.

[00:35:01]>> Well, they're not records, but they have shot higher. Okay, we have a perfect storm. You you everything that's happening bonds is part of it. Now, Walsh, I I have no particular opinion on because you can go back and say this is what he's talked about in the past, but that doesn't mean that's necessarily what he's going to do. Donald Trump is pushing like crazy for lower interest rates. And the intelligent people that I know are suggesting that the the chance of of uh interest rate climbing is a lot higher than interest rates cuts. And I believe that's true. But if your readers, your viewers go look and see what interest rates are doing today, they're shooting higher.

[00:35:58]>> All right. So we really this fiscal picture, the inflationary backdrop, just everything um feels like it's moving towards escalatory printing actions by the Fed in order to do some kind of yield curve control, in order to protect the bond market, in order to prevent the US budget from getting any more out of control than it already is. Isn't this backdrop all extremely bearish US dollar and extremely bullish precious metals miners and the hard assets in general?

[00:36:31]>> Yes.

[00:36:34]>> Okay.

[00:36:35]>> Would you like me to expand on that?

[00:36:38]>> If you want to.

[00:36:39]>> Yes. Yes. Yes. Yes.

[00:36:42]>> Okay. All right. Let me ask you this question. So all of that as a backdrop and everything we've been talking about here for the last 35 minutes, the gold and gold mining sentiment is really now near historic lows since the war started. It just plunged. It got sucked out. Okay. Is this >> Gary? There are some things that we don't talk about.

[00:37:06]>> There's some things we don't talk about.

[00:37:07]Well, >> if if if you would just keep your mouth shut. Okay. We don't need to tell everybody that gold stocks are cheaper than they have ever been in the history.

[00:37:19]>> Metals and miners. This is what we talk about here. Okay?

[00:37:23]But listen, so we've got this incredible backdrop that's taking place. It's all like coalescing at the same time. And at the very same time, since the war, you know, we saw this plunging in sentiment in gold and gold miners. And they're sitting near historic lows. Isn't this precisely the environment since the speculative froth has been completely evaporated out that it's created the great contrarian setup and opportunity for this next leg higher?

[00:37:52]>> Okay, I I will expand on this. You won't have to force me this time.

[00:37:57]>> Okay.

[00:37:58]>> Yes. Yes. Yes. Yes.

[00:38:00]>> Okay. All right. I'm going to ask you a contrarian question here. It's a little lengthy for me to set up. Let me set it up.

[00:38:09]And it's fine. Whatever your take on it is is fine. I just have I I just I just want to ask this question because it's been gnawing at me lately that I haven't really heard anybody talk about this particular angle which was talked about a lot prior to the war. Okay, so here we go. Before the war, China and the BRICS nations, which already included Iran, was making great headways with Saudi Arabia. They were cutting deals with them as well. They were already threatening the near-term supremacy of the US dollar. And most analysts were taking it basically as a fate day a complete. It was done. It was irreversible. It was written in stone.

[00:38:52]It was just a matter of time before the bricks took over. dollar hedgeimonyy was no longer multipolar world. You remember this? This was the the talk everywhere.

[00:39:03]The bricks have a system that net settled in gold. They bypassed the US dollar and more and more countries are just piling in to be part of the system.

[00:39:14]They were going to break the petrod dollar system and the hedgeimony of the US dollar. So now we have the war. We're several months in. There's no traffic in the straight overuse. lots of energy and critical commodities. They're stuck and they're stranded. And everybody is saying that Washington broke this thing because they attacked and not the other way around. Here's the question.

[00:39:38]Do you believe this is less a scenario where they broke it unintentionally, but rather they broke it intentionally because if change was inevitable at the hands of the system of the bricks that they were building and growing and damage was to come to the US dollar and to the US way of life at the hands of the bricks, wouldn't it make sense for the US to have a plan for this new world change and then break it themselves so that they could at least have a significant say in the transition rather than having the transition and all the negative changes that come along with it to be fully imposed upon them as they were increasingly inevitable prior to the war.

[00:40:20]>> You have not read Extraordinary Popular Delusions and the madness of crowds.

[00:40:33]>> Okay. It's a book.

[00:40:37]>> I figured you said I didn't read it. But h >> Have you Have you read it?

[00:40:42]>> No.

[00:40:44]>> Okay. It's a book that was written around 1850.

[00:40:48]It is the classic book on human behavior. They talked about South Sea India. They talked about the tulip bulb craze. They talked about the Zar who executed people because they had beards.

[00:41:04]The next Zar executed people because they had no beards. They talked about why 1K when everybody believed the world was going to shift overnight. There are two conflicting points of view about humans.

[00:41:24]What you just expressed is somebody in government, Trump, somebody oligarchs are so smart they realize they cut their own throat and they're trying to get ahead of the message. If you had read the extraordinary popular illusions and the madness of crowds, there are 30 chapters and all you have to do is read four or five of them and the conclusion you could come to is you know people all of those conspiracies and a lot of the guys that I used to admire, Tom Lango is convinced that Trump has set this up in in the Middle East to get rid of the UK's influence. on the Middle East and he's winning and I'm going TOM WHERE ARE you >> but all Bob all I'm asking is is if the bricks were going to take down the United States and the US dollar and their hedgeimony >> wouldn't it make sense for the US to preempt that going into this new system whatever that is and have a say in it rather than just have it all imposed to them and take it so to speak like if you knew that you are gonna get your butt whooped. Are you gonna take it or are you gonna preempt it somehow and try to do something? I'm just saying, are they just gonna sit there and take all of that pain that would come at the hands of the bricks or would they try to do something about it? That's all I'm asking.

[00:42:57]>> Everything that they done is counteryclical.

[00:43:02]They have committed suicide. They have destroyed the petro dollar. Anybody in the Middle East, whoever produced >> Was it going to be destroyed, though?

[00:43:11]Wasn't it going to be destroyed at the hands of the bricks in the new system anyway?

[00:43:16]>> Well, but but here's the thing. The United States did it to itself. They didn't have to outsmart the bricks. The United >> No, but the bricks were the bricks were getting ahead. This is what I'm trying to say. The bricks were getting ahead.

[00:43:27]The bricks were >> Yeah. Yeah.

[00:43:29]>> The bricks were on their way to creating this multi-olar world and taking down the petro dollar. So, right, the amount of pain that the US would then suffer at the hands of that if they didn't do anything would be extraordinary. It would be like the equivalent of a nuclear bomb dropped on the United States. So, wouldn't wouldn't it make sense? So, wouldn't it make sense for them to try to do something before before the bricks gets there in order to have a say in this transition since it's coming inevitably?

[00:44:00]There isn't anybody in the Trump administration with an IQ higher than 86.

[00:44:06]>> Okay, >> they're not getting ahead of anything.

[00:44:10]They're holding their hand saying, "Aren't we supposed to have some cards?"

[00:44:15]They have no cards. What they have done, >> I I I can't remember who said this because it's such a cool thing to say.

[00:44:24]>> When your enemy is screwing up, leave them alone. Okay. And and strangely enough, and I'm the only guy who's talked about, we not only destroyed the petro dollar system, the United States destroyed the petrod dollar system. The other part of the petrod dollar system was that Saudi Arabia, Kuwait, UAE, Qatar, all invested in the militaryindustrial complex. Now, as a combat fighter pilot, I'm going to tell you, every piece of gear that we've got now, it's crap. There were three destroyers. Yeah, >> Bob. Bob, the parallel to me is is very striking because to your point, the US is now destroying the petro dollar system. Well, the US destroyed the gold back dollar system before that. And so, the US, right? So the what I'm saying is is the US knew that changes were coming back in 1971 that they didn't have a choice because their gold was just getting sucked out of the system by these other countries.

[00:45:33]And if they were to let if they just stood idly by the United States would have been wrecked back then. They had they had to do a change. This was the change they chose. Go to all fiat. And this time they're doing to me it feels like they're doing something similar where they see the writing on the wall that they're going to get wrecked and before they get wrecked they're making a change and they're basically saying I dare you. That's what that's what Nixon said. He basically said I dare you on August 15th or 17th or whatever date you want to choose. Um he basically said I dare you to the other countries.

[00:46:10]>> Yeah. But here's what's so beautiful.

[00:46:13]You're thinking that the United States is doing it through brilliance. And I'm gonna agree the United States has destroyed industrial >> and I'm not saying brilliant or otherwise. No adjectives need just preempting.

[00:46:27]>> But uh but that would take brilliance and I believe that they've done it through absolute abject stupidity. Now let's I'll give you another prediction.

[00:46:43]Let's assume for a minute they the straits closed for another two months.

[00:46:51]How many countries in the world out of 196 countries I think how many of those countries will have regime change including the UK, France, Germany and the United States?

[00:47:05]>> I don't know. I haven't examined the leadership and and the political base and the the citizenry. I I'm not sure.

[00:47:12]>> No, no, you don't have to. All you have to do is look at the cost of energy. The problem is when when governments are faced with an issue, they're going to throw money at it. Whose money are they going to throw at it? Believe me. Okay?

[00:47:28]When people can't buy food cuz they can't get to the store because of the cost of gasoline, they're going to get to the hardware store and they're going to be buying long pieces of hemp rope and they're going to be looking out for tall oak trees. It reminds me, it reminds me of the Arab Spring in 2011, I think 2010, 2011, >> when you had a lot of countries over there that were they were not able to eat and they took to the streets and they were challen we're kind of running low on time. Bob, >> many believe that the global financial system is undergoing a reordering for the first time really since Bretton Woods or maybe we'll call it since, you know, the 70s. Treasury Secretary Scott Ascent is on record saying less than two years ago he sees a global economic reordering and he wants to be a part of it. Bob, are we undergoing a reordering of the monetary system right now? Do you expect gold to be at the center of it in some way? And what does it look like on the other side? Is it multipolar? Is it goldbacked? Is it digital currency? What do you see?

[00:48:39]>> That's seven questions.

[00:48:42]>> It's a run-on sentence. My bad. Okay, here's the deal. I have said this for years. We're going to go back to a gold standard, not because anybody wants it.

[00:48:52]We're going to go back to a gold standard because we have to. The United States has blown up the world's financial system. And it would be wonderful to say they did it through brilliance. They did not do it through brilliance. They did it through abject stupidity. And Besset has an IQ of 86.

[00:49:12]So he's not even the smartest guy in the administration who has an IQ of 87.

[00:49:18]These guys are utter incompetence.

[00:49:22]In 1789, France ran out of wheat.

[00:49:28]Housewives couldn't afford it. So what did they do?

[00:49:34]They had a revolution. At the start of the revolution, there were 35,000 aristocrats. the end of the revolution, there were 3,500 aristocrats. Most people don't know this. I live in France, so I'm well aware of it. Not only was it a revolution against the the uh oligarchs, it was a revolution against the church.

[00:50:00]Okay? And and very few people understand that. All of these oligarchs who think they're so smart and all of these guys who are on that plane with Trump when he flew into Beijing, they're going to be be people looking for them. Okay, we are going to have the world's first worldwide revolution. And I predicted it in a book that I wrote nine years ago.

[00:50:31]Well, we've we're living in interesting times. As you said when we first got on this call, this has been >> Let me let me point one thing out this week. Okay.

[00:50:42]We're going to realize in hindsight that this meeting between Trump and and China that's going on right now is going to be a turning point.

[00:50:55]>> I agree with you. Well, this has been an incredible discussion with Bob Morardi.

[00:51:00]Before we wrap up with our final question, I just want to direct everyone interested in the metals and mining sector. To dive into our Substack at metalsanders.substack.com, when you join the quickly growing community, you're going to receive a free report. It's titled, "If you don't own gold, you know neither history nor economics." That's a famous quote by investing legend Ray Dallio. And that's the name of the report you'll receive.

[00:51:22]Now, I'm positive you've been enjoying the conversation that Bob and I have been having. Please let them know. Hit the like and subscribe button and leave a comment below the video. All right, Bob, we're going to wrap up here. Would you please share a key takeaway to leave with the viewers for them to keep in mind and then let everyone know where they can learn all about your work and how they can connect with you.

[00:51:44]>> That that's a a good way to do it. One of the things that I've just recently realized, you pointed out that resource stocks are the cheapest they've ever been, and it's absolutely true. They are obscenely cheap. It's under 1% of total investments. What I've realized literally in the last month or two, and I've been doing this for 25 years now, the quality of the resource stocks today, there are so many really outstanding companies today that are absurdly cheap.

[00:52:25]And I'm a big believer in gold and silver, but I allocate gold and silver as an insurance policy against financial chaos. Now, if you invest to make a profit, you want to be invest in resource stocks. And there are some extraordinary deals. I did a story about a uranium stock in Gana. I I just what these guys are talking to me. I'm going, "Holy cow, this is a zerobainer."

[00:52:56]Okay. When people realize how important uranium is as a reliable source of energy.

[00:53:05]Wow. So, so we're in very difficult and very dangerous times and there is a lot of disinformation, but there is more opportunity than I've seen in my entire life.

[00:53:21]That's outstanding and that is true in my opinion as well. Um, is there a way that folks can follow any of your work or or connect with you?

[00:53:30]>> Well, yeah. Okay. There's actually two.

[00:53:34]I I I've written about 10 books. Three of the books made it to the Wall Street Journal bestseller list. They're on Amazon. Uh I I've got a free website, 321 gold and 321 energy. and I write about a variety of subjects and because of my travel background and my military background I I like to believe I'm qualified to talk about geopolitics but we're an especially dangerous period of time and the most important thing your viewers can do is to educate themselves and learn to think for themselves. There is so much AI nonsense out there on YouTube and Substack that that you have to discern the difference between what it's true and factual and what it's not true and nonfactual. It's very difficult. I understand that. However, you've got access to more information than at any period in world history.

[00:54:40]>> Yeah, that's really good. I will have the information to your websites up on the screen and then guys who are everyone who's tuning in, head over to the description area. I have some links over there for you and you can click on those and get directly over to Bob's websites. Bob, thank you for coming on to Metals and Miners for being so generous with your time, analysis, and ideas. It's always so much fun to spend the time with you. This time is no different, and I look forward to having you on sometime soon. Everybody else, thank you for tuning in.

[00:55:17]I just want to direct everyone interested in the metals and mining sector to dive into our Substack at metals and miners.

[00:55:25]When you join the quickly growing community, you're going to receive a free report. It's titled, "If you don't own gold, you know neither history nor economics." That's a famous quote by investing legend Ray Dallio. And that's the name of the report you'll receive.

[00:55:55]Heat. Heat.