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Top Three Videos – July 26, 2023

“I Ain’t Selling Gold Stocks…Bargains Are Stunning” says Fund Manager Lawrence Lepard
MiningStockEducation

Quick Summary Bullets:

Investment Opportunities in Gold Stocks

  • The current low prices of gold stocks present stunning buying opportunities for investors.
  • Gold stocks have never been cheaper, despite the fear of compressed margins, making them a bargain investment opportunity.
  • “I think less than a year and a half and probably less than six months when gold breaks out and goes through 2050 or 2070 and it’ll score it up to 2500 or 3000 and then it’ll be game on and everyone who was thinking oh you know the price of gold is going down. This will be a new all-time high.”
  • The profitability and cash flow of gold mining stocks should be considered when evaluating their potential, as companies with positive cash flow are less at risk of going out of business.
  • The value of gold in the ground can far exceed the market cap of mining companies, presenting potential bargains for investors.
  • “You’ve got things that are selling for five dollars an ounce on the ground, but that ounce is worth nineteen hundred dollars when it comes out of the ground.”
  • “You put five million to work and what does you get 12. I mean. It’s you know and over some period of time I mean your irrs. It you know you’ll be up in the 30s 40s.” – Lawrence Lepard highlights the potential for significant returns in gold stocks, with the possibility of achieving high double-digit percentage returns.

Market Sentiment and Timing

  • “I ain’t selling…the bargains out here are just stunning.”
  • “The bargains out here are just stunning” – Fund Manager Lawrence Lepard highlights the attractive investment opportunities in the current market conditions.
  • “It feels as bad as it’s ever felt and I also know that typically when I feel this bad it means we’re pretty close to the end of the drawdown.”
  • “I ain’t selling gold stocks…Bargains are stunning.” – Fund Manager Lawrence Lepard
  • “I talked to Old hands of the business in Canada. All the time they say they’ve never seen it so bad. But they also say…when it turns it’s going to be fierce and we’re going to make a ton of money here.”
  • “I’m not selling and I don’t I think anybody who’s in this area. I wouldn’t advise you sell either.”

Transcript Summary:

  • 00:00 Gold stocks are currently undervalued due to various factors, but the speaker believes there are great buying opportunities and potential rewards in the market.
    • Gold stocks are currently in a bad climate, but the speaker believes there are stunning bargains to be found and recommends buying in these conditions for potential rewards.
    • Gold stocks have been performing poorly, but the speaker believes that this is similar to previous periods before a bull market, and he sees the current low prices as a great buying opportunity.
    • Gold stocks have been negatively affected by the rapid-fed hiking cycle, but despite tight money and rising interest rates, the market for gold remains strong and close to its all-time high.
    • Gold stocks have performed poorly due to predictions of flat or declining gold prices over the next five years and increasing mining costs, while Bitcoin and other sound money assets like gold and silver have remained relatively stable or even increased in value.
    • Gold stocks are currently undervalued because the cost of extracting gold is increasing while the price of gold is expected to remain flat or decrease, leading to compressed profit margins.
    • Lepard discusses the macroeconomic situation, stating that the Federal Reserve will have to pivot and implement more money printing programs due to the increasing interest expense and growing deficits, which could lead to the devaluation of the currency and the rise in value of hard assets like gold stocks.
  • 07:48 Gold stocks are expected to reach new all-time highs in the next year and a half, despite the possibility of government measures negatively impacting the belief in sound money, according to fund manager Lawrence Lepard.
    • Gold, silver, real estate, and Bitcoin are considered hard assets, with Bitcoin being seen as an alternative hard asset due to its immutable ledger and digital scarcity.
    • Lepard discusses the opportunity to buy undervalued stocks in the current market conditions, citing historical patterns that suggest potential for significant rewards.
    • Gold stocks are expected to break out and reach new all-time highs within the next year and a half, as the belief in sound money and the inevitability of government money printing grows, despite the narrative of returning to a deflationary climate.
    • The government becoming fiscally responsible and implementing measures such as cutting military budget, means testing social security and Medicare, raising taxes, and balancing the budget would negatively impact those betting on sound money like gold, but there is no evidence of that happening.
    • Investing in gold stocks may seem challenging in the current market climate, but experienced fund manager Lawrence Lepard believes that better days are ahead and that the current downturn may be nearing its end.
  • 12:23 Gold mining stocks with positive cash flow are a safer investment option, big producers like First Majestic have potential for high returns, and investing in undervalued gold stocks like Argonaut, Eris Mining, and Silver Corp is recommended.
    • Gold mining stocks with positive cash flow are a safer investment option compared to those without, as they are not at risk of going out of business unless there is a significant increase in mining costs or a prolonged period of flat gold prices.
    • Big producers like First Majestic have the potential to be five or ten baggers, so there’s no need to speculate with drill stories, although some of those could be 20 baggers, there is also a risk of them going to zero if the situation doesn’t improve soon.
    • Buy gold stocks, particularly producers like Argonaut, Eris Mining, and Silver Corp, as they offer good rates of return and are currently undervalued.
    • Lepard  recommends investing in gold stocks such as Silvercrest, Endeavor Silver, K92, and Victoria Gold due to their cash flow and positive prospects, despite potential concerns about the Communist party.
  • 15:30 Lawrence Lepard discusses concerns about certain jurisdictions in Africa and South America, while highlighting the potential of Lion One to become a successful investment similar to K92 once it achieves real production.
    • Lepard discusses his views on various jurisdictions in Africa and South America, expressing concerns about Peru, Argentina, Ecuador, Bolivia, and Mexico, while considering Colombia as an okay option, and mentions that safe jurisdiction stocks will be in high demand during the next bull market.
    • Lawrence Lepard is optimistic about Lion One and its tradable shares, believing that once the company achieves real production, its financing needs will decrease and it has the potential to become a successful investment similar to K92.
  • 17:34 Fund manager Lawrence Lepard prefers companies with upside leverage and debt financing for potential gains, reducing positions in Cisco and not liking the partnership in Her Dean.
    • Lepard discusses their thoughts on two mining stocks, mentioning that while they were initially bullish on both, the decision to do a joint venture instead of debt financing brought down the potential earnings due to dilution, making it unclear if it was a lazy or wise move.
    • The speaker reduced their position in Cisco and didn’t like the partnership with the law in their average position in Her Dean.
    • Fund manager Lawrence Lepard prefers to invest in companies that have the potential for significant upside leverage and are willing to take on debt to build projects, as he believes that the potential gains outweigh the risks.
  • 20:11 Gold stocks are currently at bargain prices and despite challenges, there are potential opportunities, including a mine that could potentially receive a billion-dollar settlement if it can continue operating.
    • Gold stocks are currently at bargain prices and the speaker believes that despite current challenges, there are still potential opportunities to be explored.
    • A group of environmentalists have attacked a mine, but the law allows the mine to continue if it was previously used, and the mine owners are prepared to take the case to federal court and potentially receive a billion-dollar settlement.
    • The speaker discusses the risks and potential value of a mine, stating that if it were operating, it would be worth a billion dollars, but there is a possibility it could go to zero if they are unable to move forward with their plans.
  • 22:22 There are stunning bargains in the gold sector, with potential for significant profits, as gold stocks are currently selling at a fraction of their actual value.
    • Successful builds and drill stories are needed in the gold sector for investors to expect success, as many mine builds have failed and some recent projects are overhyped.
    • Higher prices make things work extremely well, and while some gold stocks have failed, there are still stunning bargains to be found.
    • Mining stocks have the potential for significant profits as they hold valuable assets in the form of gold reserves, with some companies having a market cap that is significantly lower than the value of the gold in the ground.
    • Gold stocks are currently selling at a fraction of their actual value, making them a bargain investment opportunity, as even poorly managed deposits can be reconstructed and capitalized on.
    • Cabral has a lot of gold that can be turned into cash flow quickly, representing deep value in the mining industry, but the trick is liberating it efficiently and on time.
    • Investors should focus on making five times their money by investing in gold stocks, as even if some investments fail, the overall returns can be significant.
  • 27:32 Hold onto your gold stocks as the bargains are currently stunning, and despite the current pain in the market, significant profit opportunities are expected when the market turns due to money printing and rising gold prices.
    • Lepard acknowledges the current pain in the gold stocks market but believes that when the market turns, there will be significant opportunities for profit, and it is better to buy now rather than later.
    • Gold stocks have the potential to increase significantly in value, and despite the volatility of the sector, it is important to stay invested because when the market turns, the gains can be substantial due to the inevitability of money printing and rising gold prices.
    • Hold onto your gold stocks, as the bargains are currently stunning and it is not advisable to sell at this time, but rather wait until everything is up a lot in about a year and a half before considering taking profits.

Why 2023 May Be The Last Great Time in Your Life - E.B. Tucker
Stansberry Research

2023 may be the last great time in your life, and investors should take action to protect their money and make the most of the opportunities available.

Quick Summary Bullets:

Economic and Financial Trends

  • Take action now to make 2023 the next great time in your life.
  • The desire for human connection is inherent in humans and difficult to explain, but crucial for overall well-being.
  • The US is prioritizing the competitiveness and dominance of its chip companies, signaling a shift away from outsourcing and a focus on creating an edge in technology.
  • The Fed’s game plan is to suck as much money out of the system as it can without causing a big earthquake, affecting real estate, private equity, corporate financing, and individuals’ spending habits.
  • According to E.B. Tucker, recessions are no longer a concern as the economy is now characterized by an ongoing boom and occasional panics, thanks to interventions by the Federal Reserve.
  • The name of the game is to tighten things up and take action when faced with a wall, as nobody really cares about the average person until they pick up pitchforks.

Impact of Artificial Intelligence

  • The United Nations Secretary General is calling for a new U.N Agency on AI due to the potential catastrophic and existential risks associated with artificial intelligence.
  • In the era of AI, it’s important to take breaks from technology and engage in analog activities to fully enjoy the present moment.
  • The chip wars are becoming as significant as currency wars, highlighting the importance of companies in the chip industry in the AI race.

Transcript Summary:

  • 01:41 2023 may be the last great time in your life, so enjoy it while you can and take action to make the most of it.
    • Take a vacation and enjoy time with your family this summer, as the markets are quiet and the Fed isn’t providing any guidance, but be prepared to return to work next week.
    • The United Nations is considering the creation of a new agency dedicated to artificial intelligence due to the potential risks and the possibility of a terminator-like situation occurring sooner than expected.
    • 2023 could potentially be the last great time in your life, as the UN is not doing anything to help us and there is a growing concern of increased monitoring and control over our lives.
    • 2023 may be the last great time in your life, similar to the 90s, and it is important to take action and make the most of it.
  • 05:36 Spending quality time with loved ones without electronics in 2023 may be the last great opportunity to prioritize human connection and well-being, as constantly being connected to devices can negatively impact our mood and decision-making abilities.
    • 2023 may be the last great time in your life to spend quality time with loved ones without electronics, as human connection is something we inherently desire and being isolated with only technology is detrimental to our well-being.
    • In 2023, it is important to disconnect from devices and spend time with loved ones, as constantly being connected to a device can negatively impact our mood and change us as people.
    • The better your mood and decision-making ability, the clearer you can see things and tackle each challenge that comes up, so it’s important to allocate time for consuming information but also take breaks to enjoy other activities.
    • It is unnecessary to be constantly available and responsive to others, and it is acceptable to make up excuses for not being reachable in order to prioritize personal time and responsibilities.
    • Maintaining a balanced life involves setting boundaries and accepting the fluctuations between extremes.
  • 10:32 2023 may be the last great time in your life due to the significance of space activity, dominance in hypersonic missiles, the importance of supporting chip companies, and the recommendation of life-monitoring chip stocks, but the increasing presence of technology may not actually enhance the human experience.
    • Elon Musk’s AI startup xai is seen as pro-humanity, but there is a major trend in the chip industry where companies like Nvidia are not the focus, as the chip wars are becoming as significant as currency wars in determining dominance in the AI race.
    • 2023 may be the last great time in your life due to the importance of space activity, the dominance of countries with hypersonic missiles, the need for the US to support its chip companies, and the recommendation of stocks related to life-monitoring chips.
    • The increasing presence of technology in our lives may not actually enhance the human experience, as it primarily benefits those who profit from it rather than individuals themselves.
  • 13:37 The Fed is gradually raising interest rates and withdrawing money from the system, but individuals are struggling to adjust to the new cost of money, leading to potential disruptions in the economy, including defaults and challenges in the real estate market.
    • The Fed’s current game plan is to gradually raise interest rates and withdraw money from the system without causing a major disruption, as individuals continue to spend beyond their means and struggle to adjust to the new cost of money.
    • You can make a 5.3% return on short-term t-bills, but the system is broken and there are serious issues like Starwood defaulting on an Atlanta office tower.
    • Publicly traded companies are returning hotels to the bank due to inability to obtain new debt, which could become a major problem if it happens on a larger scale, and the real estate market is also experiencing difficulties with slower sales and financing challenges.
  • 16:26 Car dealerships are offering incentives due to previous shortages, market conditions are affecting financing and trade-in values, and recessions are no longer a concern as the economy is managed by a committee.
    • Dealerships are now offering incentives to buy cars due to a previous period of car shortages.
    • The changing market conditions are affecting car financing and trade-in values, making it more advantageous to finance rather than lease a car, although the choice ultimately depends on individual circumstances.
    • Your car will eventually end up in the scrap yard, so it’s not worth getting too attached to it.
    • Recessions are no longer a concern as the current economy is managed by a committee, with interventions preventing any significant downturns, and dissenting voices are silenced.
  • 20:36 In 2023, the economy will hit a wall and people will need to take action as businesses that don’t make sense and survive through unconventional means become more prevalent.
    • Business is slowing down and there is a lag period before it becomes a problem, as indicated by architects noticing contractors asking for work.
    • The numbers no longer work and people are slowly realizing that certain projects are garbage due to the inability to pay for them, while the FED is reducing its balance sheet.
    • 2023 may be the last great time in your life because when the economy hits a wall, people will have to take action for others to care, and the speaker reflects on their childhood fears of recession.
    • In the past, people understood the importance of being thrifty during a recession and allowing the market to naturally sort things out, but nowadays, businesses that don’t make sense and survive through unconventional means are becoming more prevalent.
  • 24:11 2023 may be the last great time in your life, so focus on protecting yourself and your money from potential encroachments and distractions by staying informed through the Tucker letters and interviews.
    • Americans are unaware of the issues in Ukraine despite sending billions of dollars there, and the speaker did not watch a clip about it but likes Tucker Carlson because they share the same name.
    • The political landscape is shifting and there may be a Battle Royale in the next cycle, but the speaker doesn’t vote and has removed themselves from the voter records.
    • 2023 may be the last great time in your life, so it’s important to focus on protecting yourself and your money from potential encroachments and distractions.
    • Read the Tucker letters for free every two weeks at ebtucker.com, with no advertisements or bother, to stay informed and connected, and sign up at danielacambonen.com for more interviews.

Doug Casey- Standard of Living Collapse!
Doug Casey’s Takes

Quick Summary Bullets:

Economic Collapse and Standard of Living

  • Here’s the WSJ article Doug talks about, https://archive.is/06FwU
  • The declining standard of living could lead to economic chaos or collapse, resulting in a dramatic reduction in living standards over a short period of time.
  • The increase in government-created money for consumption without the need for production may lead to a collapse in the standard of living.
  • The article suggests that by 2035, the economic gap between the US, EU, and Japan could be as large as that between Japan and Ecuador, highlighting potential disparities in economic output and development.
  • The speaker predicts that interest rates will go way up by the end of the decade, reaching levels similar to the early 1980s.
  • The standard of living is predicted to drop to the level of Ecuador, making it difficult for people to afford children and worsening the situation for Europeans.
  • The collapse of the standard of living in Europe is a breathtakingly important issue that has received little attention in the media.
  • The greater depression is already underway in the US, with inflation rising and the standard of living decreasing.

Debt, Savings, and Financial Stability

  • The increase in debt has artificially boosted the standard of living in the US, but it comes at the cost of having to pay it back with interest.
  • The key to long-term wealth is producing more than you consume and saving the difference, highlighting the importance of saving and avoiding excessive consumption.
  • Many young Americans have a nihilistic view of their future, doubting the stability of Social Security and their ability to save enough for retirement.
  • The culture of consumption and the flawed money system create a treadmill effect where the harder you work, the harder it becomes to achieve financial stability and escape the cycle.

Transcript Summary:

  • 00:00 Europe’s standard of living is declining due to an aging population, preference for free time and job security, high taxes, and regulated welfare state, while consumption spending is falling and government’s creation of money for consumption is causing a collapse; US has increased debt to artificially improve standard of living but it is not sustainable.
    • The standard of living in Europe is in free fall, according to a Wall Street Journal article, with conflicting economic data causing confusion about the state of the economy.
    • Europe’s aging population, preference for free time and job security, high taxes, and regulated welfare state contribute to a declining standard of living and make it unlikely for Europe to turn around and rise in the world.
    • Consumption spending is in free fall in Europe, while the focus should be on production; the government’s creation of more money for consumption is causing a collapse in the standard of living, and although the article claims things are improving in the US, it is questionable.
    • Increased debt in the US has artificially improved the standard of living, but it is not sustainable and the US still produces more than Europe.
  • 05:31 The collapse of the European standard of living is attributed to heavy regulation, taxation, war in Ukraine, disruption of energy pipeline, and declining consumption of foie gras, red wine, olive oil, meat, and milk.
    • An aging population that values free time is seen as a cultural issue, while the video discusses the impact of events like the Covid-19 pandemic and the war in Ukraine on the European standard of living, attributing them to acts of God rather than addressing state actions and inflation as significant problems.
    • The collapse of the average European standard of living is due to heavy regulation and taxation, as well as the war in Ukraine and the disruption of an important energy pipeline to Europe.
    • People in France are eating less foie gras and drinking less red wine, Spaniards are using less olive oil, and fins are encouraged to use saunas on windy days to save energy.
    • Meat and milk consumption in Germany have reached a three-decade low, indicating a collapsing standard of living in Europe, as the European Union’s heavy reliance on exports and lack of internal consumption is becoming a weakness.
  • 10:06 Subsidies and inflation in Europe have led to a decline in high-end grocery spending and meat consumption, causing a decrease in standard of living, while entrepreneurs try to provide lower-cost alternatives; young Americans worry about retirement savings and low interest rates in Europe make saving difficult.
    • Giving people free stuff without requiring them to produce leads to a destructive focus on consumption, which is not mentioned in the video.
    • Subsidies for energy in Europe caused inflation, leading to a collapse in spending on high-end groceries and a decrease in meat consumption, resulting in a declining standard of living.
    • Entrepreneurs are filling the gap to make things available at a lower cost, but people need to be more careful due to inflation and decreasing purchasing power, as seen in the example of Europeans potentially going back to a simpler diet, and the transcript mentions a woman named Ron Ronda Ebeling, a 26-year-old consultant in Hamburg.
    • Many young Americans are concerned about their retirement savings and may not believe that Social Security will be sufficient, leading to a dominant nihilistic view of the future, while inflation and low interest rates in Europe make it difficult for individuals like Rhonda Rania to save effectively, highlighting the seriousness of the situation.
  • 15:18 Unions and government regulations are not the solution to the standard of living collapse in Europe, as they limit productivity and increase costs, while people’s lack of understanding exacerbates the problem, and the implementation of 15-minute cities further restricts mobility.
    • The cause of the standard of living collapse is not being properly identified, with blame being placed on individuals rather than the government or Central Bank, and the growth of unions in Europe is not a solution as they limit membership and result in higher wages.
    • Unions in Europe are not going to save the people, as they make labor less productive and cost money, leading to a lower standard of living, and people’s lack of understanding of the government’s role in inflating money and imposing regulations further contributes to the problem.
    • Unilever’s CFO acknowledges that people in Europe are becoming less mobile due to the implementation of 15-minute cities, which encourage walking and reduce reliance on cars.
  • 18:40 Europe’s standard of living may collapse due to decreased car numbers, American debt, economic gaps, migration, Germany’s energy choices, and the UK’s carbon reduction plan impacting Uruguay.
    • By 2050, the number of cars in the world will decrease by 75%, Americans are less mobile due to debt, and the economic gap between the US, EU, and Japan will be as large as that between Japan and Ecuador, indicating a trend where Europe may become less desirable for Chinese tourists due to increased migration from Africa and the Middle East.
    • Germany shutting down its nuclear power plants and inability to import natural gas from Russia may lead to a decrease in output per capita, causing Europe to have a standard of living similar to Ecuador and potentially heading back to the Dark Ages.
    • The UK’s plan to reduce carbon footprint per capita by 2030 would require a significant decrease in economic output, which would have a negative impact on Uruguay’s standard of living.
  • 22:55 Weak economic growth, rising interest rates, and subsidies are being used to offset higher energy costs, potentially leading to a collapse in the standard of living; highly skilled immigrants in the US face low wages, while non-essential jobs like public affairs specialists may not be secure in a declining economy.
    • Weak economic growth, rising interest rates, and a large amount of subsidies and relief are being used to offset higher energy costs, indicating a potential collapse in the standard of living.
    • An Indian anesthesiologist in the US earns $67,000 per year for a 48-hour work week, which is barely enough to live on, highlighting the low standard of living for highly skilled immigrants compared to their American counterparts.
    • A public affairs specialist is a professional who promotes services and informs the public, but their job does not contribute to increasing the standard of living, and in a declining economy, they may not be fired to avoid worsening unemployment.
  • 26:16 The standard of living in Europe is predicted to decline to the level of Ecuador due to trade unions, lack of work ethic, government subsidies, and inflation, causing financial struggles for Europeans.
    • The standard of living is predicted to decline to the level of Ecuador, causing financial struggles for Europeans due to trade unions, lack of work ethic, government subsidies, and inflation.
    • The collapse of the standard of living in Europe is an important and overlooked topic discussed in a well-written article.
    • European governments are expected to increase defense spending, which will lead to higher taxes and put pressure on consumers, despite the fact that the quality standard of the falling GDP of Europe is still about 50 times larger.
    • Russia does not pose a threat to Europe, as they have no intention of conquering or invading, and European countries do not need to spend much on military defense.
    • The standard of living is collapsing due to subsidy obligations and inflation, with Europe experiencing a worse situation than the US.
  • 31:49 Europeans are getting poorer due to inflation, and it’s important to encourage saving and reduce frivolous consumption; Millennials prioritize free time over work, realizing the broken system; people should find enjoyable and productive work instead of staying in jobs they hate.
    • Europeans are becoming poorer due to inflation eroding their standard of living, and it would be better if there was disinflation to encourage saving and reduce frivolous consumption.
    • People, especially Millennials, are prioritizing their free time over work due to a subconscious realization that the system is fundamentally broken and the trade-off of trading more of their life for work is not beneficial.
    • People should find work that they enjoy and that is productive, rather than working in jobs they hate, such as being a community organizer or a public affairs specialist.

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