Kellen Ainey (00:03)
Hi everyone and welcome back to the Ask Andrew podcast. Once again, I'm joined by Andrew Sleigh to give us the latest updates on the financial world and how they specifically relate to gold and silver. Welcome back, Andrew. Thank you for joining us.
Andrew Sleigh (00:16)
Hey, Kellen, thanks for having me back. Glad to be back.
Kellen Ainey (00:20)
So why don't we dive right in? do have the Fed meeting today. Canadian Bank has also cut some interest rates. So I think it's the perfect day to hold the podcast.
Andrew Sleigh (00:29)
Yeah.
Kellen Ainey (00:31)
So, with the Fed expected to cut rates by 25 basis points or 0.25%, how do you expect gold to react as Gold Spa price has been holding 3,500 USD since the 2nd of September?
Andrew Sleigh (00:49)
Well, whether the Fed cuts or not, gold and silver are going to be going up anyway. So it just means how fast they go up. If they cut today, which I expect they will, and I expect, I'm going to go out on limb, I'm going to say minimum half a basis point, half a percent. So.
Kellen Ainey (01:06)
Okay. So you're thinking that even what's projected that it's going to be, it's going to be more than that even, and more than that of the Canadian bank.
Andrew Sleigh (01:16)
I don't know what the Canadian bank is going to do. They'll just kind of follow suit. They're both in really horrible positions. So if they don't start doing something very quickly, ⁓ the entire system is going to start crumbling. it depends on what their timeline is for this. And that, of course, we don't know exactly. We can just guess and hypothesize. But the Fed is in a horrendous spot, and they're trying to time this on their calendar. So whether they need a quarter point or a half point or a full point or whatever the number is to achieve that, that's what they'll use. But I don't think, unless they meet every month and do quarter points ⁓ or more often than that, which I don't even know if they do, ⁓ I'm looking for half a point today. ⁓ if it is, ⁓ here's the conundrum. If they go too much, this, the...financial system doesn't, they lose face in the financial system and more money flees from the institutions. If they go too little, the financial system may start erupting and falling down. So what do do if you're the Fed? It's like they're in a really horrible spot.
Kellen Ainey (02:32)
Yeah, sounds, the way you described it, sounds like they're between a rock and a hard place, right?
Andrew Sleigh (02:37)
100 % and Canada is the same. The world is the same. It doesn't matter what country you're in. So they're going to cut whatever they do and regardless of what they cut, it's either, you know, bad, horrendous or terrible. And all of those will have a tremendous effect on gold and silver, you know, moving upward. Gold's already telling us and has been for weeks that the rate cuts coming already. That's why it's been steadily moving up, up, up, So You know, the next few weeks, the next month is going to be super interesting in what happens with metals. Nothing would surprise me what happens with silver and gold ⁓ in the weeks to come. It's going to be a very interesting position to be here. Watch it.
Kellen Ainey (03:24)
Well, there's been very few times I've worked in this industry where it's been this volatile, right? So it's usually coinciding with world events. We did see it at least in Canada and the Sprott Money point of view with the Canadian truckers that also coincided with COVID as well. But it is kind of that world event system that drives the gold prices. And we just seem to be a never ending, in a never ending stop of world events, especially financial events.
Andrew Sleigh (03:55)
Correct. In fact, I saw a chart yesterday from somebody, and I'm going to try to remember who, because I'm going to have to go back and watch it and take a picture of it. And maybe I can get it to you guys to see. And silver and gold are very slow on the retail level for Canada and the US. I can't comment about Europe. I'm not sure where they are in their sales volumes, but Asia and the BRICS nations are all buying.
like crazy, Russia, of course, finally crazy, various other nations in Europe, Poland has been buying a lot. But what's going on in China right now is this graph from Shanghai of the purchase of gold has gone vertical and it's a tall line. You should see this graph and this is what's causing gold to go up worldwide. They're buying everything they can get their hands on.
Kellen Ainey (04:50)
Now are you saying that's more from a, you did say retail, so just to confirm, that is from a consumer standpoint, not from a central bank standpoint?
Andrew Sleigh (04:59)
This would be from a country and central bank standpoint. Yeah, not from a not from the population of China I don't I don't think that's what what I do not believe that's what the line represented. So
Kellen Ainey (05:03)
Okay. Okay, well it would be hard to get any records on the just the financial well even just any purchase trends in China too, right? So Why don't we move on? And this is actually we kind of based this around the Fed meeting today Although the US Reserve is proceeding with interest rate cuts President Trump has emphasized his desire for the cuts to be significantly larger if that were to come to fruition How would the US dollar specifically react?
Andrew Sleigh (05:42)
Well, that's an interesting question because that times in chimes in with what I said earlier about, you know, it wouldn't surprise me if it has to be a minimum half or higher. And I didn't know Trump said that. So, so.
Kellen Ainey (05:58)
it has been a running trend, at least between him and Powell. That has been the biggest of the, at least from my understanding, that's been the biggest disagreement between the two parties there.
Andrew Sleigh (06:06)
I know he's been barking about it.
Like I know he's been calling for it for months that we need, you know, deeper rate cuts and we need rate cuts and all that. But I just, you know, I never really paid a lot of attention because it's just rhetoric and theater and all that stuff. And so I never really was cluing in, if you will, that, you know, he wants deeper rate cuts. He'd just been calling for rate cuts now, now, now, like as in months ago. So we'll see where I land on that page with.
thinking it should be higher. ⁓ So sorry, after all that, I forgot what you asked me, pardon me.
Kellen Ainey (06:43)
So how would the, let's just say that what President Trump is that US, or sorry, let's say what the president of the US, Donald Trump, what he would want to come to fruition is deeper rate cuts for interest rates. How would that affect the US dollar and even in turn, precious metals?
Andrew Sleigh (06:45)
the dollar.
Okay. So they're, connected. ⁓ one, ⁓ the U S dollar with that deeper rate cut. they're going to, if they do this deeper rate cut, I think you're going to see the gates open and they're going to be doing it like every month, whatever it is, how often they meet, you'll be seeing an accelerated race to the bottom. And, ⁓ and then you're going to see an accelerated race to the bottom on the purchasing power of the U S dollar. There's a gentleman that, ⁓ did the math on this last week. ⁓
which I haven't had a chance to go back and re-watch the video, but he did the math on all the purchasing power of the American dollar year to date, and it has lost by his math, and he's qualified to do this, so I I don't doubt his numbers. 99.34 % of the purchasing power of the American dollar.
90, like the last time I heard a number, was like the American dollar is down to about two cents. Okay. So that's 98 % of its purchasing power. And I haven't seen a number for a couple of years. And now all of a sudden this is coming out at 99.34 is what the American dollar has lost. That means that the American dollar is at seven tenths of a cent.
Okay, we haven't even talked about those kinds of numbers before. It's always been two cents, three cents. We've always dealt with whole numbers. Now we're into tenths of a cent. So this is when they do this rate rate cut. This is more money, money printing. And they're also going to do yield curve control because they're pushing down the daily interest rates and the long term bond rates are going up. It's a horrendous signal.
So 30 year bonds, 10 year bonds, those numbers, that interest rate is going up in the opposite direction to the rate cuts. ⁓ So this is really horrendous. And ⁓ this is, in my opinion, they're just trying to accelerate the destruction of the American dollar so they can move on.
Kellen Ainey (09:09)
I'm
Well, and it's been a running trend or a running topic in our show. It's going the move from the U S dollar to the digital currency. Right. And from at one point it looked like Europe or the EU was going to be leading that. And within a couple updates of a couple months, we are seeing that it's potentially that the U S could be well beating them to that punch.
Andrew Sleigh (09:43)
Well, all the currencies that are based against, they're all having the same problem. So ⁓ as fast as the U.S. is accelerating its dollar downward in value, ⁓ the other countries that are based against it, like the German, Deutsche Mark, the Japanese yen, British pound, whatnot, they're all burning just as fast. So it's just a complete race to the bottom. And who can crash the currency the fastest?
What is it that I've been talking about fairly consistently for, don't know how long we've been doing this in my interviews prior to that. I've talked about from day one, the collapse of the currencies. So now we're at seven tenths of a cent. So, you know, do I go on record as saying, you know, like I've been saying this for so long and now it's getting more more real.
Kellen Ainey (10:41)
Well, you can have your, I told you so. The only problem is it's not exactly something you wanted to, you wanted to have. Exactly.
Andrew Sleigh (10:48)
I don't want to be right about it. I don't want to be right about any
of this, it's like, you you talk about this a long time ago and it's like, it's too far from reality. And now all of a sudden with these kinds of numbers, we are knocking on the door of reality now. so it's from my point of view, like everyone thinks I'm, you know, crazy years and years, like 10 years ago when I started talking about this stuff with my own clients.
You know, that was pretty far fetched back then. Now it's reality. It's crazy.
Kellen Ainey (11:22)
also think it has to do with the way information is spread now. think it's the availability of information has just changed from even 10 years ago and then we're looking at 20, 30, 40 years ago. It's you can have all the information on the planet.
in your hand at the snap of a finger, right? So I think people have kind of woken up, they're looking at alternative news sources as well, they're not as well, they're not constantly looking at the same sources. So they've been able to gather different perspectives and at this point they're also well diversifying their portfolio to protect themselves.
Andrew Sleigh (12:00)
Yeah, agreed. That's also why they're going after mainstream media is having less and less impact. I don't think it's anywhere near minimal by any means because there's still a majority of people watching cable news, but they are losing their shirts on viewership. And this is also another reason why the governments are acting to suppress what is allowed to be out there on the internet for news.
You know Canadian government's passed laws on this the Americans are passing laws on this now as we talk about it They're they're addressing this issue so that you have to be a registered news program You know be on the government list to be able to say stuff and if it's not what the government deems to be the truth Then it's misinformation and hate and whatever right and they just will will cancel you So anytime the government gets to decide what the truth is we're in deep trouble
Kellen Ainey (12:57)
Yeah, well at that point it's not typically news, right? We see what happens. We've seen historically and around the world even today what happens when the government is in full control of the news cycle. Typically it's not news and it's more of a controlled, it's more of a controlled feed, right?
Andrew Sleigh (13:08)
Thank you.
It's complete propaganda. That's all that's been going on for years now.
Kellen Ainey (13:20)
So speaking of Canada and shifting to the Canadian bank, the Bank of Canada has announced a rate cut of 25 basis points. So down to 2.5 % interest for the Canadian bank. How will this affect the cost of living for the average Canadian?
Andrew Sleigh (13:39)
it's all going to drive the cost of living up. So it's very temporary. So if anyone has any ⁓ variable rate debt, so credit card or variable rate mortgage ⁓ or a line of credit, ⁓ then you're going to have a temporary relief of your interest payments being a little bit lower. But that will be short lived, measured probably in six months to a year where
⁓ Money printing as a result of lowering rates eventually shows up in the system with rising prices of goods and services. So it's a temporary fix and then just creates more of a long-term problem.
Makes it easier in the months in the months to come easier in the in in the year to come harder
Kellen Ainey (14:33)
Yeah, so you're holding off the inevitable with this rate cut, it's going to happen. The failing of the dollar is going to happen regardless.
Andrew Sleigh (14:41)
Yeah. In reality, the failure, when you say dollar, I'm assuming Canadian dollar, mean. So that, in my humble opinion, ⁓ the dollar in Canada has already failed. And what I mean by that is ⁓ we already have debt beyond measure and we're already technically by definition in a solvent nation.
So if we are an insolvent nation by definition, then what's our currency worth? And if our currency, because we're insolvent, is worth nothing, then technically it's already defaulted or already has no value. It's just that it takes years for people to understand these things to come to a realization that the dollar has no value. And so therefore, if there's no value, ⁓
You know, everyone's accepting it as payment right now, but it costs more and more to buy stuff. And that's part of the devaluation of the currency. And at some point it will accelerate where, where you're going to be like wanting to pay everything you can the same day you get paid from work. Because tomorrow it's more expensive. You know, it gets to that stage eventually. ⁓ and I don't know how long that's going to take, but you know, it's just paper.
Kellen Ainey (15:38)
Yeah.
Andrew Sleigh (16:02)
At the end of day, it's just paper. There's no true intrinsic value. You know, we're lucky enough to be working at a company that actually has real money. And we have access to it. ⁓
Kellen Ainey (16:09)
Yes.
Well, even on the technology front specifically, it's I've seen when you and obviously the US dollars we've spoken about earlier this call, it hasn't it's not doing very well either. But when you see a just an item, let's talk about a ⁓ laptop, the price in Canada versus the price in US. And of course, the currency exchange, that's something we've all lived with for however long. I have never seen the disparity like this. We're looking at
products that cost almost 1.6, 1.7 for the same thing. So it's, it's, again, this varies from industry to industry. I'm more so speaking about technology as a whole. It's just, it's borderline frightening to see where the Canadian dollars at.
Andrew Sleigh (17:00)
And that's, know, the Canadian dollar is valued more than let's pick another country and over in Europe somewhere. there's other countries like Venezuela, for example, our favorite test subject. Canadian dollar is worth, I don't even know what the math is, but it's like thousands of times more than the Venezuela. Whatever they call it today. It used to be the sovereign Boulevard. Now they call it something else. So, um, you know, what are those people going through when they're spending?
like hundreds of thousands of that currency per month to feed themselves.
Kellen Ainey (17:34)
Well, at this point, got to
bring a you got to bring a wheelbarrow just to get a loaf of bread, right?
Andrew Sleigh (17:39)
Yeah. In fact, there was a video that circulated ⁓ last week that there was somebody that ⁓ went into a grocery store in Venezuela and looked at all of the items on the store. And the store was like any store you'd walk into in our country. OK, so well stocked, everything there. ⁓ And everything was priced in grams of gold.
Kellen Ainey (17:44)
you
Andrew Sleigh (18:04)
There is no dollars. So if people don't think this is a possibility or available, it's coming. as soon as, as soon as the vendors realize it's pointless and it's a pain in the butt to try and accept currency for anything in Venezuela, which will be at some point, you know, Canada, U S everywhere else, ⁓ you know, they'll, they'll start pricing it in grams of gold. And so like a ball of, I think it was a
Kellen Ainey (18:05)
Wow.
Andrew Sleigh (18:34)
what is it 26 ounce or a Bailey's was 0.06 grams of gold.
Kellen Ainey (18:41)
I'd be interested to see how that transaction even works on getting that small of a gold denomination. I feel like it would be easier to use silver at this point as we've always talked about.
Andrew Sleigh (18:50)
Well, you just do the conversion with whatever the ratio is and that would be easy. But, the person basically had this, raw ounce of gold. Like it showed, you know, like this little tiny nugget and there's a person in the store set up with instruments, a scale, the whole nine yards. And the person who was buying stuff bought enough to, to satisfy the use of whatever that weight of that
gram of gold was, but if it was like two or three grams, he would find two or three grams were the groceries. And, and
Kellen Ainey (19:26)
Wow. So it is, it's,
and this is happening today. This isn't historically, this is international.
Andrew Sleigh (19:31)
The video was last week.
It was live. Not live, but it was just made last week. So, I mean, I've known that stuff has been going on as far as, you know, buying silver, using silver as, as grocery money in Venezuela for a decade. ⁓ I've seen videos where they're pricing bags of oranges that were, you know, like $10 million, whatever it was. And, you know, they're writing all these zeros. Then the government said, well, let's delete six zeros off our numbers.
you know, off our currency so that everyone didn't have to keep writing zeros to price goods on stuff. And somewhere along the way that got dropped and now they're just pricing grams of gold. And I don't know if that's everywhere. That just happens to be the store that this guy showed and did the video of himself going through a transaction and then send it to the person that posted it.
Kellen Ainey (20:12)
Yeah. So yeah, that would indicate the total failure of the currency. So we're not quite there in Canada, but we are, from your not only experience, but just education, all of it, you think we're on that path. Sorry.
Andrew Sleigh (20:41)
Nobody understands it's failed yet. Nobody understands
it's failed. In my humble opinion, and I'm not a macro economist that has a deeper understanding, but I just see it as to me, the currency's dead. That's why I don't try and save anything in currency anymore. I haven't for years. So when everyone else starts to realize or think like I do, let's say, and
You know, like all of a sudden, everybody in my neighborhoods thinks the same way I do, like the currency is dead. Why do we want to have any of it? That's when you're going to start seeing hyperinflation because everybody will, you know, get paid today and get, buy whatever they can with it while they can. that's, that's hyperinflation starting, ⁓ until that begins, then it's like, buy everything you can with dollars while they still have purchasing power. You know, you're buying, what are the, the
The central banks of the world are in countries are buying gold and silver. And we've talked about this before with their currencies as much as they can before their currencies no longer buy gold and silver.
Kellen Ainey (21:53)
Well, even the Yuan specifically look at China and the amount of gold that they purchased and look at how well I even remember when it was right when the most recent US China trade war had started and the Yuan took a major hit and people were arguing about it online.
but they weren't even looking at it from this perspective. a lot of people were arguing the exporter economy standpoint, which is a very fair way to train of thought when speaking about both the US and China, where China can kind of play that game because they are an exporter economy. And if they do take a hit to their dollar or currency, sorry, it's not as impactful to an importer economy.
And even now you're highlighting the fact that they've been able to kind of offload their currency to be buying boatloads of boat loans, well, gold by the time.
Andrew Sleigh (22:47)
So when their currency finally goes to zero, how much did they pay for the gold? That's it. So, you know, from a micro standpoint, you know, when we drill that down to like, you know, the clients, know, customers, ⁓ various populations in whatever country, ⁓ people should be ⁓ taking their currencies and buying meaningful physical assets with it.
Kellen Ainey (22:52)
Zero. Zero.
Andrew Sleigh (23:15)
Uh, extra food, uh, um, things to need around the house. If the roof needs to be redone, don't wait until next year, do it this year, because next year it could be double the cost. Like, okay, um, you need to have a new furnace put in. have to have a whatever work done around the property. You're far better off trying to get it all done this fall than waiting until next year to do it, because you could be easily paying 30, 40 or 50 % more or worse.
Kellen Ainey (23:26)
Exactly.
Andrew Sleigh (23:44)
to have that same work done. So do that stuff now. Buying gold and silver, the same thing. You know, we've had example after example of people have been waiting to buy in the metals since, you know, a year ago, of various people.
Kellen Ainey (23:59)
Yeah. And I believe you're
regretting the decision. You and I were actually, we're on a joint call with a client who was debating on selling their assets. And this was in silver had a very good run, but, I'll never forget it. You even mentioned to them just, look, I know that silver is doing very well right now. Just trust me, trust me, trust me. It's going to continue doing well. And we finally hit that 40, $40 USD threshold.
Which does bring me into my next question actually. So with Silver Spot surpassing the $40 USD benchmark, as many viewed as the evaluate, sorry, Silver Spot has passed the $40 USD benchmark. The evaluation of Silver was supposed to slingshot once it had hit that threshold as the view of many. Where do you see Silver Spot price by the end of 2025?
Andrew Sleigh (24:55)
Well, it's a wild guess because there's so much in play. I'll say nothing would surprise me what happens if we have. So a month ago, I listened to a gentleman who does stats on and covering off what the bullion banks are doing on their short contracts. And he reported that the bullion banks have reduced their short contract positions by 50 % from the previous month. That's.
Kellen Ainey (25:24)
Wow.
Andrew Sleigh (25:24)
Massive. Okay, so that that means that they have 50 % less ammunition to keep silver down
Kellen Ainey (25:26)
Wow. that I had not heard. That is some of the biggest news I've heard in silver in four years even.
Andrew Sleigh (25:44)
Well, I would say it's in that category for sure. So it tells me that the banks are slowly trying to get out of their position or quickly trying to get out of their position ⁓ before silver kills them. Because every time silver goes up a dollar, it's costing them billions of dollars. So if they don't get rid of these positions when they feel that they can no longer play this game, ⁓ silver will either kill them or they're going to wind up ⁓
Sorry, I guess I'm what I'm trying to say is if they if they decide they can't manipulate this any longer they better get out before silver winds up running them over and So that's a super sign that They're deciding to give up the ghost on this before it winds up destroying them It'll be interesting to see what happens in another month if they're down another 50 % which would be like a 75 % overall decrease
and so on and so forth. And so the air is getting much thinner for resistance for where we are in silver. And it's getting to be a very exciting time. if this continues to move in the way it is, ⁓ you could wake up tomorrow and you could have obscene levels of silver pricing, know, whenever that starts. And we don't know that exactly. But ⁓ to me,
When this shenanigans is finally over it would not surprise me ⁓ You know if we wake up whatever day and silver's up 200 bucks Like that could easily happen. In fact
Kellen Ainey (27:21)
Well, that is one of the
biggest indicators from a investing standpoint that silver has one of the best runways it's ever had. At least since I've been doing this, of course, but it has one of the best runways I've ever seen for it.
Andrew Sleigh (27:33)
Thank. It's a 60 year cup and handle formation for silver, which is probably the longest there ever has been in my, I'm not a statistician. don't, I don't study the charts all that much. ⁓ but this is what I'm seeing from people that are qualified that talk about this stuff. And so that I do know that a 60 year cup and handle is, is longer than anything I've ever heard of in my financial career of 34 years. So, ⁓ so that means there's a lot of energy for you.
massive move on the upside. The inflation adjusted number for silver alone, just using the CP lie by the government, which they don't report the real inflation rate, silver should be $209, I think it was, US spot. Just inflation adjusted for the last
I forget where it started, maybe 84 or 2011. I where it was. So we have a long way to go just to get caught up to the inflation adjusted price, not to mention anything else.
Kellen Ainey (28:45)
So speaking to that, do feel like I wouldn't say it's kept up with inflation, but gold has done a better job of keeping up with inflation. And in this time that gold has done a better job of doing so. We've just seen the gold to silver ratio explode. I believe we've actually spoken about it the last few podcasts and it's just, every time I look, the gold to silver ratio seems to be getting bigger and bigger. I haven't done the math on it this morning, but it's...
Andrew Sleigh (29:13)
So it's something that I calculate fairly routinely. So, you know, in the last, let's just say the last three years, silver had hit an all time high of the ratio of 125 ish to one, which is the highest in history. And then it slowly worked its way down and earlier this year had reached a hundred to one. And then it worked its way down to 90 to one. And it.
got down to a low of around 84, 85. I ⁓ did it the other day for a client and it was 88. So we're somewhere in that 85 to 90 range right now. ⁓ I would say on a downward trend. ⁓ And I believe that's going to continue to be a downward trend because where we are now in the cycles, gold's been leading the way for, you know, let's say this year, last year, whatever, last three years, four years, silver always seems to catch up. but it does so in weeks. So last year we had gold put in a really good, handsome return, but it did it over four or five months. And then silver did it in three weeks.
Kellen Ainey (30:24)
So do you see, obviously the historic is 12 to one for the gold to silver ratio. Do you see that ever coming back to form or it's just kind of going to be more, it's going to tighten up of course, but it's not going to have that 12 to one ratio that it had initially.
Andrew Sleigh (30:41)
So ⁓ historically, when the two banks were fighting this out, the gold banks and the silver banks, going back 150 years, and the valuation difference, they pegged it at 15. Maybe it was 13, 13 or 15 to 1. And for the sake of, we're not going to give it equal weighting because you have to carry more and all that kind of stuff. So they did that pegging back then. ⁓ In the last 100 years, we've had
the ratio drop in these great depressionary times down to 15, 15.5, 16 to one for silver to gold. And we'll do that again. So.
Kellen Ainey (31:25)
Okay, so you see it reaching its historic standpoints.
Andrew Sleigh (31:29)
I do. ⁓ in fact, I think it will go lower, but that's nothing more than speculation on my part. So, ⁓ and the only reason I think it's going to go lower is that the commercial demand, ⁓ everything is using silver now, like it never did a hundred years ago. And then you have, it's always the people's money and people are going to be, you know, still accumulated for use and, ⁓ in transactions whatnot. So.
Kellen Ainey (31:38)
Of course.
Andrew Sleigh (31:58)
And you have the shortage of it now starting to to be apparent. So ⁓ I just don't see how if you have a worldwide supply of silver to people in the world is one ounce for everybody and gold is two and a half, give or take to everybody. Just based on supply and demand, that's silver should be higher in value.
Kellen Ainey (32:22)
Yeah, without a doubt.
It made no sense. Like even within the last year, I'll never forget reading, I believe it was the 2024 Sprott Silver Report. It was the 2023 or the 2024. It was last year's. I can't remember the date that they had put it in, if it was from the prior year or the projection for the year. But all the writing on the wall was for Silver to skyrocket. They were constantly getting into higher uses of it.
We're running into just producing it less. Year over year, we're producing it less. And we've even seen how in the industrial uses of it has just skyrocketed.
Whereas it used to be very minuscule. And now every time that they make a warhead, every time they make a new EV, every time a solar panel is produced, or anything just electricity wise, so your phones as well, silver is integral in that. for its spot price not to be reflected in that was curious to say the least because it's not like you can remake the silver that gets used in a warhead.
Andrew Sleigh (33:25)
Yeah. Two things to go along with your points is I was asked, I asked routinely, well, what happens when we have a recession and then all of a sudden we're going to have a, you know, the demand for silver is going to go off the cliff, even if it's, you know, for short term, you know, that should cause a drop in price. I said, fair question, but
50 % of all the silver that's produced is produced as a byproduct from these other mines that are, you know, from the economy like copper, lead, zinc, whatever. And so if those mines now cut back production because of the recession, that means there's less silver for all these critical systems that are needed for. So if there's less silver, even if there's a less of a commercial demand, you have 50 % less production going on. I don't see it as a factor that will be relevant to, you we go into a worldwide recession, depression. ⁓ The countries are still going to be spending money on so-called green energy. They're still going to be making solar panels. They're still going be doing, you know, the Western countries are trying to rearm and rebuild their armies ⁓ with high-tech weaponry up to Yazoo.
That all requires a mountain of silver. Space age stuff is going on all over the place. That all requires a mountain of silver. So all the things that aren't really discussed that need silver is growing in demand. And if we have less houses being built or so there's not as much copper required or all that kind of stuff, that just means there's less silver being produced. And ⁓ I don't think it's going to have an effect on the price at all. I think it's going to make the price go up.
Kellen Ainey (35:22)
So Silver's just in a position basically.
Andrew Sleigh (35:22)
So. Yeah, it is. So that's one debate that I get asked quite often. So hopefully that's going to answer somebody's, a bunch of viewers questions when it comes to, we're going to be in a recession. How's that not going to affect it? I had another point, but it's escaped me at the moment with regards to ⁓ something you were chatting about, but hopefully it'll come back to me in a moment. If not, we'll leave it to another time.
Kellen Ainey (35:53)
We can, we may have to leave that for another podcast because we are actually out of time here, Andrew. I very much appreciate your time. I, I'm sure our viewers do as well, both your time and knowledge. How can each one of our viewers reach you?
Andrew Sleigh (35:58)
Yeah, that goes by quick. So thanks, Kellen. So anyone that wishes to speak to me, it's the toll free numbers on our website, 1-888-861-0775. My extension I put on my, behind my name here, 230. And you can email me at deathofthedollaratspraatmoney.com. And that's deathofthedollaratspraatmoney.com. And until next time, I think we'll have a lot of stuff to talk about in another three weeks, Kellen.
Kellen Ainey (36:38)
It seems like there's more and more to talk about every time. At this point, we're just coinciding with Fed meetings. it's no issue on my end. But thank you once again, and we'll reconnect.
Andrew Sleigh (36:44)
Yeah. Okay, sounds good. Thank you for doing the interview.
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