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Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business
Why Silver Prices Could Explode in the Next Decade
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- [00:00]
Podcast Host / Narrator
Not every sale happens at the register. Before AT&T business Wireless checking out customers on our mobile POS systems took too long. Basically a staring contest where everyone loses. It's crazy what people will say during an awkward silence. Now transactions are done before the silence takes hold. That means I can focus on the task at hand and make an extra sale or two. Sometimes I do miss the bonding time. Sometimes.
- [00:25]
Peter Krause
AT&T business wireless connecting changes everything.
- [00:31]
Podcast Host / Narrator
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- [00:58]
Peter Krause
And I said, if gold reaches 5,000 and I use the 15 to 1 ratio, that's $333 silver. Well, we haven't made it yet to $300 silver, but we have reached $5,000 gold. And I, in fact, now think we're ultimately going to go well past even $10,000 gold.
- [01:18]
Podcast Host / Narrator
Foreign.
- [01:24]
Robert (Silver Bull Advocate / Interviewer)
Radio show and I'm broadcasting from Phoenix, Arizona, where it's heaven or hell. And right now it's heaven. It's just really, really nice weather. And I'm very excited about. I'm. I'm interviewing a man I've looked, I've respected for years. He has a great book, the Great Silver Bull. And I've been a silver bull since 1965. In 1965, I held up one of these coins here, and they were no longer silver, they were copper. And I realized it was called Gresham's Law. Gresham's Law states that when bad money or fake money enters the system, which we have lots of today, good money goes into hiding. So that's why today we're printing trillions of fake dollars. I think a trillion every hundred days or something like this in the US and the more fake dollars we print, the more valuable real silver becomes, plus gold and bitcoin and other things. And so my guest today, somebody looked up to again, a fellow author, Peter Krause. He's author of the Great Silver Bull. And I'm a hardcore silver advocate since 1965. And I've even been on like Neil Cavuto show and a lot of shows in cnbc. And everybody was saying, what do you recommend? And I said, silver, not gold. I said, no, silver. And the Reason I recommend silver is because silver is an industrial metal. I mean, without silver, the world economy stops. You have to have it. And on top of that, it's a precious metal. So our dollars used to be US Dollars, used to be silver certificates, and today they're just fake. So we have fake money. And the more, as Gresham's law states, the more fake money we print, the more gold and silver go up in value. So, Peter, welcome to the show.
- [03:36]
Peter Krause
Robert, it is a true pleasure to be here with you. Thanks for having me on.
- [03:40]
Robert (Silver Bull Advocate / Interviewer)
Thank you. Thank you. So I love your book. I really do. Great Silver Bull. My first question is, again, I said the way I became a Silver Bull was looking at fake money, 1965, and I started going to the bank after that. I caddy. I say 17 years old and I'd caddy. I got paid a dollar for nine holes, and I take that dollar into the bank and I cash it in, and I go through all the silver coins and pull out the real silver ones from the fake silver ones. And little did I know, I was following Gresham's law. So, Peter, let me ask this first question right off the bat. How did you become a Silver Bull and why did you write such a great book?
- [04:30]
Peter Krause
Well, becoming a Silver Bull was from doing research, frankly, which, you know, eventually, obviously ended up in the form of the book. But having done the research and looking at the supply demand fundamentals for silver, it was just. It was just undeniable. It was just so compelling. And I have a. An interesting sort of little anecdote. People asked me in the last few months, as you can imagine, when silver ran up to, you know, $120, people said, Peter, how did you know silver was cheap, you know, four years ago when you wrote the book? And I said, well, that was easy. Nobody wanted to talk to me. No, everybody wants to talk to me. And, yeah, I mean, you know, if you had done the research and. And you obviously did, and from way back, understood the fundamentals, it was very clear. Silver was undeniably, unquestionably, way too cheap. And the Bullish case was just so compelling that, you know, I had to own Silver and I had to write about it. So it's actually, I have to give credit to a former colleague of mine who is a financial editor, who said, peter, you have to write a book. And frankly, what happened was, the way it happened was this would have been in early 2021. So we were about a year into the COVID pandemic, and he kept you Know, egging me on. And I said, bill, you know what, you're right. And I also realized that being in the middle of a pandemic, there could be almost no better time, right? You just put your head down, do the work. And I said, why let a pandemic go to waste? Write a book. And it took me about nine months to actually write and then a few months to get sort of the, the thing up and running and, and made it, make it available. But, you know, I, I, I said in there, everything that I thought about silver, it's, it's really a bit of a, a reference guide. I talk about the history of silver, the fact that it's been used as money for longer than gold has, the fact that it is likely responsible for more transactions globally, historically than gold because it buys small amounts. And so in your daily life, you've, you know, until 50 years ago, as you pointed out earlier, silver was in our daily lives and we were using it to, to do research regular transactions, buy groceries, you know, pay for fuel, pay for regular services. And so, you know, the, the book talks about that history. It talks about macroeconomics and, and why precious metals and silver in particular are so compelling and have been, and have been our money for, you know, thousands of years. And the last, really, the last 50 years is an experiment, as you know, Robert, it's not normal, it's not typical not to have precious metals backing our everyday money. And so I don't think this experiment is likely to end too well, especially if you don't own these metals. But, and then I talk about the supply, demand, fundamentals, how silver is used. It's both, as you pointed out, an industrial metal. We can talk about that. Actually, there's some interesting developments in the last few years on that. But it's an industrial metal and it's a, a precious metal money. And really, you can't really say that to the same degree for, for, for silver, for other metals as you can for silver. It is exceptional. It's like a hybrid metal really. Then I talk about how to invest in silver and silver miners, which is my focus these days, with my newsletter. And ultimately we're going to go like, I have some ideas about how, you know, this bull market will eventually pan out. I do think that this time will in fact be different. And I say that with reservations because nobody knows the future. But I do think the end game will be different. And so, you know, people will at some point want to, I think, cash out, especially from the miners. But we, we are Ways a ways off, probably at least a decade from that, but it's going to be one for the record books.
- [08:58]
Robert (Silver Bull Advocate / Interviewer)
Well, the reason other thing I say is that iron was the metal for the industrial age and silver is the metal for the information age. And so what's happening right now, the consumption of silver is going through the roof. It's solar panels, water purification medicine, EVs and all this. Plus every Tomahawk missile, I think, carries about 2 or 3 pounds of silver in it. So when they go boom, the silver disappears forever. And I think that's one of the reasons I'm so bullish on silver is because it's the metal of the information age and its consumption is expanding. Unfortunately, the supply is not. So I'm forecasting $200 silver. Of course, I'm like those big silver bulls from years ago when the Hunt brothers tried to corner it. And I'm such an optimist on silver. It hasn't hit 200 yet, but I've done pretty well over all these years. In fact, I started a silver mine in Argentina and I made the mistake of selling it to Yamana and they bought it. And it's one of those things I wish I had not sold it. So that's how much of a silver bull I am. More than a gold. And I own gold mines also, and I love gold. I really love gold. But silver is the metal of today, more than copper, I think, in many ways, because again, it's a monetary metal, it's industrial metal and a monetary metal. So I'm calling for $200 silver. Again, this is not financial advice, so just take it with a grain of salt. Just remember I'm a silver bull for years and there's a lot of disappointed silver bulls all along the wayside. Right, Peter? I mean, they know it's going to go up. They know it's going to go up. It doesn't go up exactly.
- [11:10]
Peter Krause
Exactly. Well, you know, I like to say it took 45 years for it to take out that $50 level from 1980 to 2025, and then it took three months to double to 100. So when silver gets going, I mean, that's proof. And I, you know, again, never say never, but I, I highly doubt we're ever going back below 50. I think that, you know, we are. That will now be. And even perhaps higher. But I think that will form the new floor. The previous ceiling is now going to be a new floor. Price, sorry, Price. Floor. And we look, you know, when it went to 120 it corrected very quickly. In fact, right around that time I said, this is too high, it got here too fast. It's not realistic. It's going to correct about 40% percent. That's essentially what it did. It went to 67 intraday a few days later in late January and then or early February. And now we've, we've not really meaningfully seen it below 70. And just a few days ago we were well above 80. So I think this sort of 70, 80 is the new base and we're going to work higher from there. But to your point, to your point, Robert, about consumption for industry, you know, what people need to realize is just five years ago half of silver was consumed by industry. Last year it was 67%. So it went from half to two thirds in five years being consumed by industry. Now this is not, this is not optional consumption, the industry consumption of silver is necessary. It's very, very difficult and in most cases essentially impossible to substitute. So you have to have that silver, they need to buy it. And I think that, you know, I was said two years ago that the silver people were asking, well, you know, we've been in a few years of structural deficit, how come the silver price isn't moving? Well, I did the research and I figured out that we had these big stockpiles, above ground stockpiles. People own it privately, but mostly the futures exchanges, the comex, the lbma, the Shanghai. And I said the big consumers, the big industrial consumers, they, they have been able to go and buy, tap into these existing inventories and draw them down and buy that silver at the prevailing price, you know, at market price, which was somewhere between say $25 and $30. So they were not putting pressure on bringing new silver to market. They could buy what was already produced in the past and sitting in inventory. And at the time, this was two years ago, I said we've been seeing these inventories draw down in a big way. Hundreds of millions of ounces have come out of the market and we've got 12 to 18 months left. So this was February of 2024 by last summer. So we were about the 18 months in, we saw silver start to take off and there was relentless buying and then it went through the $50 level in October and then it had a small pullback and then just went wild after that.
- [14:30]
Robert (Silver Bull Advocate / Interviewer)
Well, if I could add thing, this is the, the biggest thing is that wasn't JP Morgan fined because they were playing games with it?
- [14:38]
Peter Krause
Absolutely, yes, I think they were.
- [14:40]
Robert (Silver Bull Advocate / Interviewer)
They were fined a billion $900 million or something, right? And thing I want to say is that this, you know, a real silver coin. Today I go into a store and I test the sales clerks. I said, this is a real silver coin. I'll give you this for $10. They go, it doesn't make sense to them. I said, but today one of these is $10. And that's how much silver is going up. And that's why I'm so bullish on it. I think $200 silver is not out of, I'm not only guessing, so don't take my word for it. And this is not financial advice. I just tell you what I do and I hold real physical silver. You know, it's kept, it's kept in a safe and Liechtenstein outside of Switzerland. I don't keep it near my home because you invite people over then. But that's how bullish I am on silver because again, it's an industrial metal. It's very long time to bring a silver mine online. It's harder to find. It's generally a derivative of another. They're looking for copper or something and they find silver. And the biggest part about it is people like JP Morgan, the big banks are playing games with it. They sell, they sell into the future silver to drive the price down so they can buy at a lower price and it comes back up again. So that's why eventually the games are about to end when the, when the silver supply ends. And that's why I'm saying $200 silver. And I'm not expecting you to give a, give a forecast. That's my forecast. It's just a guess really is just because I'm a big fat silver bull. So anyway, what else would you like to add to the reasons for buying silver?
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Peter Krause
Well, I'm going to give a guess too, which is, and I talk about it in the book and it's not financial advice for me either, but my target is actually a bit higher. I think we're going to eventually see as much as $300 silver. And in the book I give about four or five different examples indicators that I used
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Robert (Silver Bull Advocate / Interviewer)
today is May 2026 and it's about $90 an ounce. So I'm calling for 200 and you're calling for 300.
- [17:14]
Peter Krause
That's right, that's right. And I mean, you know, I looked at different indicators to come up with my forecast and when I wrote the book I looked at things like the gold silver ratio. And if you look at when we were end, at the end of that big mania in 1980, the ratio when gold was $850 and silver peaked at $50, essentially right around the same day, the ratio had dropped 15 to 1 or just below. So meaning it took 15 at that those prices. It took 15 ounces of silver to buy 1 ounce of gold. So I said, okay, if I look into the future and I, and I make some guesses, hopefully informed ones about where I think gold is going, I thought, and this is going to be interesting, Robert, you'll see. When I wrote the book, I said, well, you know what, looking out, you know, several years, I think gold can reach $5,000. Well, here we are. Here we are. And I said, if gold reaches 5,000 and I use the 15 to 1 ratio, that's $333 silver. Well, we haven't made it yet to $300 silver, but we have reached $5,000 gold. And I in fact now think we're ultimately going to go well past even $10,000 gold. So even if you get a 30 to 1 ratio, but you're at $10,000 gold, you're still at 300 and a few dollars for silver. I also looked at, I looked at the Dow to silver ratio. I looked at the home average home price to silver ratio when silver hit that peak in 1980. And if you looked at average home prices in 2022 when I wrote the book, and if you were, and if you looked at those prices then and the ratio, if it were the ratio were to fall back to what it was in 1980, again, it was always pointing me to a price in the $300 range. And that's why again, I didn't pull it out of a hat. It's, it's by using different indicators, making certain assumptions and, and that was the general range.
- [19:27]
Robert (Silver Bull Advocate / Interviewer)
If I could add one more thing is, you know, I own silver mines and I own gold mines. You know, my, my proudest achievements. I took a gold mine public on New York Stock Exchange and that gold mine was in Utah. But the thing I found out about silver, it's really hard to find in many ways. I mean, it's less valuable than gold, but it's harder and harder to find. And consumption is going up, plus a national debt is going up. And there's a book by a friend of mine, Lawrence Lepard, who says the big print and they're going to start printing money like crazy to cover the debt. And when they print money, that means the dollar goes down in value. If the purchasing part of the dollar, the yen or the peso, the Euro goes down and the price of precious metals go up. So those are some of the reasons I'm so bullish on silver. And like I said, it's an industrial metal as well as a precious metal. So we come back, we'll be talking to Mary. I finally got to meet Peter Kraut. He's my hero. A great book with Silver Bull and I am a silver Bull. Big fat one. But when we come back we'll be talking more about Peter and what he sees for the price and the value of silver. We'll be right back.
- [20:56]
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- [21:57]
Podcast Host / Narrator
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- [23:10]
Robert (Silver Bull Advocate / Interviewer)
Welcome back. My guest today is Peter Krell, a man I've looked up to for years. He's author book the Big Silver Bull. I'm a big fat silver bull. And he's going to explain why I, you know, why we're so optimistic on silver. And one, one big reason I'm optimistic in silver is I own gold mines, I own gold coins. But the reason I buy what I call green boxes, the Silver Eagles, US Silver Eagles and there's 500 each inside of them, is because when that dollar collapses, which I think it will, you know, and they start printing, then I'm going to start using silver as spending money. Whereas I wouldn't do that with gold. You know, this takes, you know, you can't go into a supermarket like a ten thousand dollar gold coin here. They won't take it. But silver is a little bit more walk around money I call it. And so that's why I'm such a big fat silver bull. So they're called silver eagles, the silver all, every country, not every, every mint produces them. They come in, they come in bars and coins and all this. So I don't recommend and I'm not a, I'm not an advisor, but those are the, we're not saying buy silver, but I definitely consider it. So Peter, what, what other reasons do you have for silver? Your bullishness on silver.
- [24:37]
Peter Krause
So Robert, you mentioned earlier about how hard it is to find and I can certainly, I can certainly confirm that. So, you know, for your, your viewers it's important I think to realize that only about 25% of silver that comes out of mines comes out of actual silver mines. The other 75% comes as a byproduct from mining other things like gold or copper or lead and zinc. So you know, here's what's interesting. If a miner that produces silver as a byproduct, not their main metal, you know, is happy to, to get paid for the silver that they produce, that silver is really not that important to them. It's a small part of the revenue stream. Sometimes they hardly even report it. So they're happy to accept a high price for silver but they don't go out of their way to try and produce more. And I think that's one of the big reasons that silver production, silver mined silver has not kept up with the pace of demand. So the last time or the, the highest amount of silver ever mined was in 2016 and it was about 900 million ounces of silver that year. We have not ever, so that's 10 years ago. We have not ever matched that level. So imagine silver demand has exploded. We have run deficits since 2020 and we're not producing more silver. So where is it going to come from? People are, you know, have said to me, well, there's lots of silver that's owned privately, you know, these private hordes, and if the price is high enough, it'll come to market. And perhaps, and to some extent, probably yes, but not at 40 or 50 or $60. It's going to have to be at much, much higher prices that some of that silver will start to come to market. And I'm not so sure how willing people will be to let go of that silver. So I don't operate on that assumption. I operate on the assumption that the market is going to remain very tight for many years. Just solar panels alone require 20% of the annual supply of silver. That One application is 20% of all of the silver produced every year. And with this war in Iran and oil prices having shot up, a couple of things have happened. We've seen lots of interest in things like EVs because people want to avoid cars that have to consume gasoline. We've seen people turning to solar panels because their heating oil, home heating oil, has shot up in price. Anecdotally. There's the largest electricity provider in the uk it's called Octopus Energy. They saw solar panel sales jumped 50% in February and March. People are looking for alternatives. And I've said, you know, with, with, with these much higher oil prices, you've got countries, large manufacturing companies looking for alternatives to much higher oil prices. Not only, you know, is it, does it wreak havoc on, on their planning when they have to suddenly pay much more for oil or not even be sure if they're. But they look, so they look for alternatives right away. They, they want to make their supply chains more robust. It's very reminiscent of what happened during COVID They want to make their supply chains more robust. So they're going to look at nearby sources of oil. They're going to look at alternatives for oil. So they're. And they're going to be willing to pay more for certainty. So they're going to lock in contracts that are going to span maybe five years, 10 years, be willing to pay more for the certainty of the energy. Guess what? That's inflationary. And here's an interesting point. This is from Ember Energy. They do Some great research and they said, here's an example, you have a hundred million dollars and you need to generate electricity. You can generate with natural gas one and a half terawatts of energy, but guess what, it'll last you one year. If you spend that same $100 million on solar panels, you're also going to get one and a half terawatts of Energy, but for 25 years because you're not burning it up. You're buying panels that produce that energy and that's their lifespan, 20 to 30 years. So the math is pretty simple. And that's why I think even with higher silver prices and silver being a big part of solar panels, I don't see the demand of, for solar panels, you know, suffering in terms of, even with higher, higher silver price environment.
- [29:31]
Robert (Silver Bull Advocate / Interviewer)
With the price of oil going up, I recommend everybody getting an ev.
- [29:35]
Peter Krause
That's true.
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Robert (Silver Bull Advocate / Interviewer)
And I, I have oil wells, I sell oil. But I still like EV because I just plug it in. So the question is this. There's silver bulls and there's silver haters. So what are some of the complaints or the justification for silver haters hating silver?
- [29:57]
Peter Krause
Well, you know, it's never going to go up. It's never going to go over 50. Now that it's over 50, it's soon going to go back below 50. People just, you know, love to be pessimistic. I don't get it. But I can tell you that I've read a few times that there's, there's financial or economic behavior research that says that people who are, who are optimistic actually are more successful investors. So that's something to keep in mind. And you know what, Robert, as, as you have, and you've been very patient, but also on the right side of the trade, I bet you know that the, the price you paid for some of your silver is almost insignificant compared to today's prices. I mean, it's barely a rounding error. It's been very profitable to be a silver investor in the last few years. And I think that there's this thing called recency bias. People always look back at the recent past and think, oh, well, this is how things have played out. That's how they're likely to continue to play out going forward. And I think that's kind of sticking your head in the sand like an ostrich, I think. I say do your research, then place your bets, be patient. And if you've done good work, good research, odds are good that your, your thesis is going to play out. And I'M not saying you have to, you know, allocate everything you have to this one trade, but at least have exposure to certain things. And again, this is not advice, but I think having some exposure on some level to silver is, is for everyone. One of the other knocks against silver is its volatility. Right. It is absolutely more volatile. Both, both the metal and the stocks are more volatile than many other asset classes, more than gold for example. But people can use that volatility to their advantage. You know, buy when it's come off, sell if you want, when it's run up and take some profits. If you're going to invest in the miners, start with metal is is my view. At least that's the approach I take. For me, start with the metal and then if you're going to take, get some exposure to the miners, if you have a lower risk tolerance, start with the larger mining companies. You know that companies like Pan American Silver and Wheat and Precious Metals. These are some of the largest public silver companies in, in the market period, globally. And in the 2000s they both, at different periods, they both had run ups over a few years of 16 times 1600%. So you can get that with the larger companies in this space. You don't have to take the biggest risk with the small explorers. It's really something that can, can make for life changing returns.
- [33:00]
Robert (Silver Bull Advocate / Interviewer)
Yeah, my biggest, my biggest thing is I look at the national debt, is that going up or down?
- [33:08]
Peter Krause
Well, I think that's an easy answer.
- [33:12]
Robert (Silver Bull Advocate / Interviewer)
What is the demand for silver is going up whereas gold kind of remains neutral because you don't really need gold for industrial use, primarily money and jewelry. But silver, like I said, there was iron that drove the industrial age and silver is driving the information age. So that's why its consumption keeps going up. And you know, a lot of the silver came from recycling and people going into, you know, selling their silver pottery and stuff like that. But those days are gone. So that's why I was, I became a silver bull. And like I said, I found a. I've searched for gold ants, I've owned gold mines and silver mines and I had a hard time finding a silver mine at a good price. And when I found it, I was offered so much for it I had to sell it. Now I wish I hadn't. That was what, 15, 20 years ago. But anyway, silver is consumed. That is a big reason that silver keeps going up. And as it's consumed is demand keeps going up. So what's happening with supply right now?
- [34:29]
Peter Krause
Supply is flat to at best 1% growth maybe per year. That's at least the forecast from the Silver Institute. They put their survey out every year. But there's some interesting things in their numbers. They are saying that the deficit has shrunk a lot last year. So we had much bigger deficits a couple of years ago. A lot of that was because people went out and bought physical coins and bars and that, that, that diminished a little bit. What is interesting though is that so we're still going to have a deficit just smaller than in the last couple of years. It's actually going to be, they think this year a little bit bigger than it was last year. But if you include the silver that flows into silver ETFs by their own numbers, we will have this year the single biggest deficit ever in silver, over 300 million ounces of silver. This silver flows into the.
- [35:30]
Robert (Silver Bull Advocate / Interviewer)
They don't have 300 million ounces of silver available.
- [35:35]
Peter Krause
Exactly.
- [35:36]
Robert (Silver Bull Advocate / Interviewer)
And what's happening is these, these companies like JP Morgan and all that, they're selling it forward. So they're actually selling futures on silver they don't have. And I watched that. I said, boy, that's a suicide mission. You know, I mean, talk about nuts. So that's why JP Morgan was fined almost a billion dollars for selling silver they didn't own. And that's what's going on in the market. And that's, I think, one reason I think price, price of silver will go up is that game is about to end. They're going to catch them with their pants down. And the trouble with selling short silver is you've got to cover it. That means you've got to buy it back to pay it. And once they realize that people, there's nothing to if they can't buy it back, that adds another layer to the bullish nature of silver. And for me, the biggest reason is I buy those green boxes of eagles. So I call it walk around money. If I need to spend, I'll spend a silver coin. I won't spell a gold coin because it takes too much money. So those are some of my reasons there. So final words there, Peter?
- [36:55]
Peter Krause
Well, I mean, I'm going to kind of repeat, I guess what I said earlier is that I think it makes sense to have exposure again. It's not advice, but I think this is one of those markets like you, you believe silver is one of the best places to be invested. I certainly feel that way. For me, that's why I wrote a book, that's why I have a newsletter that talks about you Know nothing but silver and, and silver miners, that's leveraged exposure, of course, but the metal's going much, much, much higher in my view over the next several years. And as you said, Robert, good, great point. We consume a lot of the silver that we produce. It's getting harder and harder to find and few companies are motivated to look for it or to, or to produce more of it because it's difficult to find. So it's expensive to find. And therefore, and the ones who produce it, produce it as a byproduct, they don't have that much interest in the additional revenue that it, that it means. You know, an interesting point. Some miners actually, in fact, we've seen this in the last few months when silver prices get high like this. If they have the, the option in, in their mind to go for grades that are actually lower, they will do that because at high prices they can actually mine lower grade silver, produce less silver than in previous quarters, let's say make the same or more money, but bring less silver to market. So high prices could actually in, in. This is the reverse of economics 101. High prices is supposed to mean higher supply. In the case of silver, it can be the reverse. So high prices could mean less silver coming to market and that just exacerbates the whole thing. So this is as compelling a market as I've ever seen.
- [39:00]
Robert (Silver Bull Advocate / Interviewer)
Okay, so again, it's Peter Krause. His book is the Great Silver Bull. Please read it before you invest wildly. But I'm very optimistic. Peter's very optimistic. And this is not a time to be saving cash. It's a time to be buying silver or gold or, you know, crypto or whatever your, your fancy is. But the price, the value of the dollar is going down because they're going to keep printing more of it to pay for our national debt. So, Peter, thank you very much. Thanks for writing your book and thanks for being a fellow Silver Bull.
- [39:37]
Peter Krause
It's a huge pleasure. Robert, thank you.
- [39:39]
Robert (Silver Bull Advocate / Interviewer)
Thank you. And we'll be right back with a final word from me. Thank you.
- [39:48]
Commercial Narrator / Advertiser
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- [41:22]
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- [41:59]
Robert (Silver Bull Advocate / Interviewer)
Welcome back. I want to thank Peter Kraut. His book is called the Great Silver Bull. Please read it, because I think it's one of the best investments today. Of course, we don't give financial financial advice. But I tell you what I do. I'm buying a lot of silver, but I've been buying since 1965. And I own silver mines. I owned a silver mine for a while. My point here is this. I look at silver like I do oil, and I own oil wells. And the reason I own oil wells and silver is because it's consumed. Gold is not consumed. Silver and oil are consumed. It's burned up every single day. And they're playing games with it. So that's why you should read Peter's book before you get in there. Because like I said, JP Morgan was fined almost a billion dollars for selling silver they don't have. And guess what? Nothing's changed. They're still doing it. They're still selling silver into their future to keep the prices suppressed. And then when that thing pops, finally, they're going to have to cover their short positions, which means, like, let's say JP Morgan and the price goes up. All of a sudden they have to go back into the market and buy the real silver that they were selling. Because they were selling, they weren't selling silver, they were selling the option to buy silver. So silver is this massive, massive change right now. And I like silver because it's still affordable for most people today. This is May 2026 and it's about 80, $90 an ounce. I was buying it when it was pennies an ounce, so I've done very well. Anyway, thank you for investing time in your financial education. And this is not a time to be a saver of dollars. It's a time to be an investor of your dollars. Thanks very much.
- [43:58]
Podcast Host / Narrator
This podcast is a presentation of Rich Dad Media Network.
- [44:04]
Peter Krause
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- [44:05]
Robert (Silver Bull Advocate / Interviewer)
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Peter Krause
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Robert (Silver Bull Advocate / Interviewer)
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Robert (Silver Bull Advocate / Interviewer)
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