Bob Moriarty: We Are In Never Neverland

The year 2020 is the gift that just keeps on giving. Just when we think things can only get calmer, we have a border confrontation between China and India. In addition, COVID-19 appears to be accelerating in certain parts of the world. Meanwhile, the stock market couldn’t care less about either China/India or the virus. In this month’s conversation with 321gold founder Bob Moriarty we discuss the virus, why there won’t be an election in the US this year, the dichotomy between the employment situation and the stock market, and finally the junior mining bull market….


Goldfinger: I remember you telling me at the end of 2019 and early this year you said, “I don’t think there’s going to be an election.” I said, “What do you mean? How could there not be an election?” Obviously, there’s a few ways that could happen and some are theorizing … Well, two things. There’s two theories. That Trump will either not run again when he’s clear he’s going to lose and blame it on something. You know, lots of different things he could blame it on. Or he’s going to try to rig the election with voter suppression. What are your thoughts on those two ideas?

Bob Moriarty: I don’t think either is valid but let’s go back to COVID for a minute. In two of the books that I’ve written, I try to get people to think because it’s important. It’s very important to understand that there are some things you can figure out the truth of by yourself with nothing more than logic. Okay? That’s a little hard to believe but I’m going to give you a perfect example. How would it be possible for a country with 5% of the world’s population to have 30% of the world’s virus? How is that possible?

Goldfinger: I guess it’s possible a couple ways, different responses to the virus, and also more testing for the virus.

Bob Moriarty: Well, strangely enough, I think you’re half right. First of all, yeah, it’s possible if there was something significantly different about how that country is approaching it and the fact is that’s not true. There have been a wide range of ways to approach it and, strangely enough, the results are almost the same whether you’ve locked down or not locked down, whether you’ve tested or not tested but you hit on something very important on the testing.

The testing numbers are absolute total horse shit. There is no way that those numbers are accurate because what they’re really testing for is any coronavirus and a cold is a coronavirus. Okay? The United States has put itself and painted itself into this incredible corner where literally we’ve become a pariah of the world because of the numbers but the numbers are bullshit.

What we’ve done is tested everybody for the flu, everybody for the cold, and everybody for the virus and said, “Oh, it’s 50 times worse than anybody else” and it’s bullshit. If you look at the number of deaths from the virus and those are already admittedly overstated. If you have blood alcohol content of 5.5 and would die after a blood alcohol content of 3.0 and you die, we call it coronavirus. If you’ve been shot to death we call it coronavirus. If you’re a 22 week preemie we call it a coronavirus.

A city councilman in San Diego went through the numbers and in San Diego of 200 reported corona deaths, he could only verify six. What’s happened is literally, Europe said, “We don’t want Americans.” Okay? This is really totally insane. If someone was deliberately trying to create a worldwide depression they would be absolutely succeeding.

We are not going to have an election. There won’t be an election. The crazies will take over or Donald Trump will say it’s just too dangerous to do, too many people would get the virus.

Goldfinger: Wouldn’t that be kind of ironic if Donald Trump was the one who said it’s too dangerous to do?

Bob Moriarty: Somebody’s doing it. Okay? Do not try to convince me this is some kind of accident. This is not an accident. Somebody’s behind this. Somebody’s behind ANTIFA. Somebody’s behind the riots. The WHO and the CDC and Fauci and Bill Gates have been caught wrong so many times it’s absurd yet Twitter and Instagram and Facebook will censor you, will obliterate you if you say anything different.

We’re in Never Neverland. I mean, this is absolutely something Lewis Carroll would say, “Jesus, I got to write another book.”

Goldfinger: We really are in Never Neverland. Have you heard about this theory about cycle threshold and testing? It’s basically that the tests in the US for COVID are the most sensitive tests in the entire world. We have the most sensitive tests of any country in the entire world with a cycle threshold of 40. Taiwan has a cycle threshold of 35, which basically will only pick up high viral loads of COVID-19. It will not pick up a weak positive or a false positive. Taiwan hasn’t had a COVID case in two months, meanwhile, the US is breaking a new record every day.

Is there something to be said for the fact that we’re testing so much that we’re getting a lot of asymptomatic people who may have had minimal viral exposure and really aren’t at risk of infecting others?

Bob Moriarty: Well, you’re making my point for me. We’ve got a test that’s so sensitive that it’s picking up 100 out of every 10 cases.

Goldfinger: Right. The case numbers are actually overstated and there seems to be a concerted effort from the left to try and fear monger and make the situation seem much worse than it really is.

Bob Moriarty: That’s absolutely true. If you go to the mainstream media today I would challenge anyone of any belief to say that anything they say is accurate. They are nothing but absurd propaganda mills and none of what they’re saying is true. They lie about everything.

Now you know me. All governments lie. That’s something that as you grow up you learn. But the media is just flat absurd. It’s like getting your information out of a comic book.

Goldfinger:  Yeah. I mean, there’s no media source that I believe today is reliable, that I would trust everything that they say and everything that they publish. There’s really none. There’s so much fake news and news that is speaking partial truths without full context in order to shift opinions of the masses. We’re seeing that every day, every single day.

Bob Moriarty: You’re not getting news from anyone. All you’re getting is agenda.

Goldfinger: Agenda. Lots and lots of agenda. Whether it’s trying to shift votes a certain way, trying to shift public opinion a certain way, trying to shift spending habits a certain way, everybody has an agenda, everybody has a vested interest and a bias.

Bob Moriarty: Well, I have no problem with that and absolutely wrote a chapter about it in one of my books. It’s very important when you deal with other people to recognize, “Hey, this guy’s got a reason for supporting X, Y, or Z” but when their agenda becomes so important that … I expect some lies from everybody. Okay? Let’s be adults. Everybody lies. Okay? It’s not the end of the world if somebody lies to you.

Your wife comes home and she just bought a pair of pants down at the store, she puts them on, says, “Hey, baby. What do you think?” You look at her and say, “Well, the last time I saw an ass like that was on the southbound end of a  hippo at San Diego Zoo.” That’s what happens when you tell the truth. Okay? The correct answer in that situation is, “Oh, darling. It’s just so lovely. I just think it’s wonderful.”

Lying is not bad. It’s not the end of the world. It’s how we get along with people. But when everything is a lie and nothing is the truth, something is terribly wrong.

Goldfinger: That’s true. That’s where we would find ourselves in 2020, not knowing who to listen to, who to trust, and then that brings us to the economy and financial markets. It’s something else when basically the real unemployment rate is probably about 30% but the government data is showing about 11.5% right now.

This is really a surreal situation because the gap between the 11% and the 30% has a lot to do with furloughed workers who are probably not being brought back or about to be laid off or being laid off and then we have a whole contingent of the workforce that’s on government support, that is getting the … What is it? The PPP, the Paycheck Protection Program, the $600 or so a week extra from the government.

If we took away the government support and cut through the BS and the data in reality, you could make an argument that as much as half the population is out of work. How the hell is the NASDAQ making new all time highs?

Bob Moriarty: Same way Hertz and Tesla did … You’ve got a bunch of young people, 600,000 of them have opened accounts with Robingthehood and they’ve got this excess money that they’ve got to do something with so they went out to find the dumbest possible investment they could make and they threw money at it.

Goldfinger:  The young people with $5,000 Robinhood accounts are not driving Tesla to a $100+ billion market cap. There’s something else going on out there that has rampant speculation in one segment of the stock market whereas huge parts of the stock market, such as the financials, they can’t get out of bed in the morning but these tech stocks, like you mentioned Tesla, like an Amazon, like a Netflix, they are soaring to new heights.

I think part of that must have to do with the New World Order that we’re seeing now and the change in patterns, people are much more likely to stay at home and watch Netflix, people are much more likely to order groceries on Amazon.

Bob Moriarty: Nope. It’s the nifty fifty. It’s what happens when at the very end of a bull market, the concentration in shares gets to an absurd degree. The US large caps represent a higher percentage of the total market cap than they ever have in history. That’s what happens at the end of a bull market. The market gets more and more and more focused on fewer and fewer stocks.

The stock market hit a high in 1966 and then in 1969 started a big decline. Well into 1972, the nifty fifty, the largest cap stocks such as AT&T, those shares were doing very well and the rest of the market was getting creamed. It doesn’t make any difference whether it’s Amazon or Netflix or Tesla or Apple. It’s the concentration that’s important. None of those stocks are rational from an economic point of view any more than buying shares of Hertz.

I think that’s one of the most perfect examples that I’ve ever seen. Who is the guy on Robinhood that was talking about he was a genius and he was smarter than Buffett.

Goldfinger: Dave Portnoy.

Bob Moriarty: Yeah. That was really hilarious. That’s the kind of utter stupidity you get at the end of a bull market. In March of 2000, I read an article about inmates in a jail in Baltimore who were holding stock picking contests. Now when the inmates in a jail in Baltimore are holding stock picking contest, you have the very last people involved that could possibly be involved.

It’s totally rational … This is a crazy thing to say but it’s true. It’s totally rational for the stock market to be hitting new highs when the underpinnings … We’re going into the most massive Depression in history and lots of people are admitting that now and the barometer, the way that you measure should be the stock market but we are so far removed from reality that Powell is acting like a puppeteer and he’s pulling the strings of the market and it’s the same as the king having no clothes. Okay? We don’t dare admit the king has no clothes or he’ll execute us.

Goldfinger: It’s a narrow leadership stock market rally with a lot of weak underpinnings, including government support, namely government support, central bank support. In fact, I’ll add a chart to this post about the central bank balance sheet expansion, which has gone on as absolutely unprecedented.

We’re seeing some of that money and some of that speculative fervor sort of leak its way into the gold mining market the last couple of weeks. We’ve seen some very big moves and some juniors. I know many that you cover … I mean, we could choose a handful or you could pick your three favorite. There’s lots to talk about, we saw White Gold (TSX-V:WGO, OTC:WHGOF) move above C$1.20 last week. We saw Eloro Resources (TSX-V:ELO), which you wrote about last week, also break out to new highs. Do you want to talk about either of those or any other ones?

ELO.V (Daily)

Bob Moriarty: Let me give you a perfect example. The guy who runs Eloro contacted me, actually Quentin had gotten in touch with me and he said, “Look, you want to own some of those shares.” They just completed a private placement about six weeks ago. I looked at it and said, “You know, these guys were doing a placement at 30 cents and they’re 60 cents now and I’m really uncomfortable with that. I didn’t get to buy any shares and I hate chasing a stock.”

I don’t ever chase stocks. It’s not the way I do business. Quentin said, “You’re going to regret not having shares.” I talked to management and they told me about their project down in Bolivia, which is near Potosi which has never been explored by modern methods. They’ve got another project in Peru, a gold project, that’s identical to La Arena of Rio Alto and I said, “Well, you know, I really love you guys but I feel bad because there’s no way obviously I can get in the private placements.” He said, “Well, Bob, it’s really simple. We’ve got a big shareholder who wants to unload some shares. If you could bid at 50 cents you’d probably get some.”

I thought, “Well, hell. I got to try it.” Shares at the time were like 55, 59 cents, somewhere in there. I put a bid in for shares at 50 cents and lo and behold, it got filled. That was two weeks ago. On Friday … I was buying shares two weeks ago at 50 cents and on Friday they were $1.10.

Goldfinger:  That’s a pretty nice move.

Bob Moriarty: Yeah, but there’s what’s crazy. That isn’t the biggest move I’ve had. I’ve had a boat load of stocks up 25% in a day. There was one stock, Grand Portage, the symbol is GPG on the TSX-V and they announced they had done a placement with Eric Sprott for $3 million. Actually it was Friday they announced it. God, that’s funny. I can’t believe that.

They give the placement at 30 cents with Eric Sprott. Now take a wild stab and tell me how much do you think the shares went up because of that announcement?

Goldfinger: Well, maybe 20%?

Bob Moriarty: How about 65.7% on the day and there were no Americans buying shares because the market was closed in the US.

GPG.V (Daily)

Goldfinger: Wow.

Bob Moriarty: Here’s the news and I’m glad that you’ve got all these old interviews because I’ve said this many times in the past. You can buy the biggest piece of crap stock in resources and it’s going to go up tenfold. Okay? I’ve got my favorites and everybody knows my favorites. It’s Novo, it’s Irving, it’s Lion One, they are great stocks, you can’t go wrong owning the damn things.

However, something as minor as a placement by Eric Sprott into, what is admittedly a good investor, can drive the stock up 67% in one day. Nothing changed about the stock.

Goldfinger: Absolutely amazing. I did a webinar on this topic last week, I think it was on Tuesday afternoon, and I said I think we’re in the excitement phase. It goes optimism, excitement, thrill then euphoria and excitement is when you start to get new people jumping into the sector, people start to get excited about it, they start talking about it.

The thrill phase is when you just buy a ticker symbol because it has gold in it and you don’t even care. You’re just guessing and people are going all in. Then the euphoria phase is obviously when your hairdresser, your Lyft driver, the parking guy all are talking about the stocks that you own and nobody thinks they could ever go down again. That’s the euphoria phase and that’s when you know you better ask the waiter for your check because if you don’t it’s going to get ugly.

Bob Moriarty: We are a long, long way from there. We are in a similar market today to what we were in 2016. It’s not that broadly based yet. I could give you 15 or 20 examples of stocks up 100% or 200% or 300%, however, there’s a lot of stocks that have not participated yet, they will. Okay?

We forget that in relative terms to the indexes, the stock indexes, gold shares and resource shares are the cheapest they’ve ever been and in relative context to commodities in general, gold shares are the cheapest they’ve ever been. We’re going to have a wild bull market.

It’s not totally insane what Powell and the federal reserve, the treasury, and the central banks have done is destroy every currency in the world.We are going to have hyper inflation. I’m not saying we’re probably going to have hyper inflation. I’m saying we are going to have hyper inflation. We are going to close the banks. They are going to seize the assets in the banks because the banks are all broke.

Regardless of what the government does … The government is playing high stakes poker with Monopoly money. One of the things that I would highly suggest of any investor … Have you ever attempted to play high stakes poker in Las Vegas and you sit down and get your chips and the guy walks in and pulls out a Sears credit card and he wants to put the chips on his credit card, you want to grab your chips and you want to leave because you realize it’s going to be a crooked game.

Goldfinger:  I’m looking at the daily sentiment index and the NASDAQ is at 93, gold is at 85 right now. What does that tell you? Are you concerned at all that gold might be getting a little frothy on a sentiment front?

Bob Moriarty: Absolutely. Gold has actually been higher. Okay? Let me take a look at my numbers for a minute. Yeah. Gold was 90 about 10 days ago. It’s been above 70 for three weeks. We will have a correction. I don’t think we’re in an absolute high yet but in the next week or two or three there will be a correction as far as the NASDAQ is an accident waiting to happen. Do not crawl under the falling safe. They had a DSI of 94 a month ago. Okay? It’s going to crash. It’s not going to just go down. It’s going to crash.

Goldfinger: Turning out to the world a little bit, we’ve had unprecedented events occur in 2020 all around the world. The most recent one China and India get into a confrontation, on their border, mountainous border, and it’s unclear exactly how many troops were killed on each side but it seemed like at least 10 soldiers on each side were killed and both sides have increased their troop presence on this border. What is going on there? Is China swallowing up Hong Kong? Is this the year that China says, “We’re a superpower and we can do whatever we want”?

Bob Moriarty: Let’s go back to India and China for a minute. There were actually reports there were over 20 people killed on the Indian side and the Chinese refused to admit the number of people that were killed but it’s probably a similar number.

Here’s what’s very interesting. Where the conflict took place, it’s a demilitarized zone and they’re not allowed to carry guns. What the Chinese literally were doing were taking two by fours and putting nails in them. The Chinese and the Indians were beating each other to death with pieces of wood with nails in them.

Goldfinger: Oh, so there were no shots fired?

Bob Moriarty: There were no shots fired. They can’t have guns in that area. To say that that’s pretty ugly, okay? I’ve been shot at a lot, Robert. Don’t let me kid you. I was a bird dog pilot and I was an F4 pilot and I’ve been shot at a thousand times. That is relatively civilized because I was in their country and they didn’t particularly like that. When people start attacking you with sticks, with barbed wire and nails in them, you’ve got something that’s pretty ugly.

India and China are trying to have a dick measuring contest. Those are always dangerous because guys always cheat and when they lose … I mean, I’ve lost every one I’ve ever been in. It’s just embarrassing. The US is not helping things. You know, Trump is like Bill Clinton. He’s not above a wag the dog moment. He sent two aircraft carriers over to the area and he sent 10,000 troops to India. We are in a world that is so insane that it could turn topsy turvy in a day.

Goldfinger:  Let’s go back to gold. I think that’s really the key underpinning here, whether gold gets a little frothy in the short-term and has a pullback, we don’t know, but the long-term fundamental underpinning, I couldn’t imagine a stronger backdrop for precious metals, gold and silver, than we see today.

In fact, I think that some of the strength we saw last week in gold has a lot to do with the markets anticipating the federal reserve is going to do more in 2020 and they’re already buying corporate bonds, they’re already buying mortgages, they’re already buying treasuries, they’ve already set-up special purpose vehicles to do Main Street lending.

But one thing that they haven’t done is try to weaken the US dollar by an appreciable amount and the dollar … I mean, when you think about … Let’s be optimistic and say the unemployment rate is only 20%. Well, even if it’s only 20%, the Fed is still missing its mandate, its dual mandate by 1000 miles.

Weakening the dollar would be in the interest of the country for multiple reasons. It would increase trade. It would make US goods more affordable to the world. It would make our debt worth less. When you do that, you know that precious metals are going to sky-rocket and people are going to say, “Why am I holding this rag, this piece of paper, when I could get some real hard money?” I think that that would be the rocket fuel for gold to make new all time highs.

Bob Moriarty: Here’s the issue. Let’s say you’ve got a platinum Rolex watch and you take it into your jeweler to have the timing checked and he brings out a hammer. What do you do?

Goldfinger: Go somewhere else?

Bob Moriarty: You pick up your watch and you go somewhere else. Why do you do that?

Goldfinger: Because you don’t want to break your watch.

Bob Moriarty: Because a hammer is the wrong tool to use to fix a platinum Rolex. Okay? When you talk about the objectives of the federal reserve they’re using a hammer to fix a very fine tuned vehicle and it is guaranteed to fail. Now one of the things I have absolutely hammered for years is you cannot bail out a bankrupt system by borrowing more money. If you were $250 trillion in debt, that can mathematically never be paid, you’re just pissing up a rope to borrow more money.

Now I’ve said it, I’ve got it in books that I wrote years ago, the government is going to try a dozen ways to fix the problem. Every single one of them is going to fail. Now I can tell you how to end military adventurism, I can tell you how to end government spending being out of control. I can tell you how to end the financial problems in the medical system and it’s so simple that governments won’t possibly consider it until they’ve failed a dozen times and people are literally burning the house down. What’s the solution? How do you end stupid wars?

Goldfinger:  You just stop sending people to war.

Bob Moriarty: Yeah. Yeah. Easier than that. Hell of a lot easier than that.

Goldfinger: You declare peace?

Bob Moriarty: No. You go to the idiots who are deciding whether you should go to war or not and say it’s okay to go to war but if you go to war, you got to pay for it and you can’t pay for it with IOUs. You got to pay for it with real resources. Now the reason military adventurism has bankrupted every great civilization in history is wars are very expensive.

Regardless of how you feel about killing people who have done nothing to you and you get guys like John Bolton who think that’s just a wonderful, wonderful spiffy idea there’s a very practical reason for not going to war and that is you can’t afford to.

If you made governments pay for it in real terms they would say, “You know, we can’t really afford that” and then they would start looking at the medical system and say, “You know, people really can’t afford to spend $50 for an Aspirin. People really can’t afford to go into an emergency room with a hangover and come out with a bill for $15,000.” Okay?

If you only did what you could afford, you would be better off as an individual, as a local government, as a corporation or as a national government. You should not spend more money than you have. Now that’s so fucking simple, governments can’t understand it.

Goldfinger:  Very true. But in the meantime, we’re in an election year. Both Trump and…..

Bob Moriarty: What did you say? Did you say we’re in an election year? You just hope we’re in an election year.

Goldfinger: Well, it is an election year one way or another. The House, the Senate, and the presidency are up for grabs. We know what politicians like to do to buy votes, right?

Bob Moriarty: Well, unfortunately, one of the greatest ways to buy votes is to start a war.

Goldfinger:  Do you really think that would work this year?

Bob Moriarty: It always works. That’s why you do it. Go back to 2001. Okay? Remember the people driving around with flags on their cars. We need to go kill somebody. There was even a country song where the guy was saying, “Iraq and Iran, I don’t know what the difference is. Bomb them anyway.” I’m thinking, “Jesus, that’s a really bad idea. If you are going to bomb the shit out of a country, you ought to at least be able to find it on a map.”

Goldfinger: I feel like it’s going to be harder to pull off this year. I think people are tired of fear and death and there isn’t a good war target country. I mean, Iran is … Forget about it. It’d be way too costly, right?

Bob Moriarty: They are absolutely gearing up for war with China. The US would love to have a war with China.

You should go back and you should study how World War One started and when you realize … Are you aware nobody started World War One? Did you know that?

Goldfinger: Yes. You told me a few months ago. I remember.

Bob Moriarty: It just happened. Okay? There was all these crazy agreements between different countries. Nobody started it. One minor little duke gets assassinated and the Serbs decided they would go out and they … Austria decided they would teach the Serbs a lesson and Austria goes in and they got their ass kicked and the Russians mobilized and then the French mobilized and then the British mobilized and then the Germans mobilized.

All of a sudden, you know, we’ve got trench warfare going on that goes on for four years and 20 million people died. The thing that’s so sickening about that is there really weren’t any bad guys in World War One. They were all idiots. Okay? The Germans were no more stupid than the French or the Russians or the English. They were just as stupid.

But they had a peace conference and they sign a piece of paper, the Treaty of Versailles, that absolutely guaranteed there would be another war and 63 million people died in that. Now there’s a really simple reason I would argue the United States should not fuck with China.

Goldfinger:  I mean, it wouldn’t end well.

Bob Moriarty: Well, next time we could be talking about 63 million Americans dying. One of the interesting things about 9/11 was to use an aircraft as a bomb was very effective and if you were going to use an airplane as a bomb, one fully loaded with fuel, would make the best bomb.

Now let me ask you a technical question. This is funny because I don’t think you’ll get it right. Which has more energy, a gallon of gasoline or a gallon of nitroglycerine?

Goldfinger: A gallon of gasoline?

Bob Moriarty: It absolutely does because the nitroglycerine has an oxidizer in it. A gallon of gasoline has more potential energy than a gallon of nitroglycerine. Having a fully loaded airplane with the 100,000 pounds of jet fuel on it aboard makes a wonderful bomb.

If you were going to attack the United States and you wanted to defeat the United States, how many nuclear weapons would it take?

Goldfinger: One?

Bob Moriarty: Thank you. There is a very real reason the United States should not fuck with China and the reason is China probably has two or three bombs that can destroy the United States. It would take one EMP weapon at 100 miles over Kansas to fry every computer in the United States. A year later, 90% of Americans would be dead.

Goldfinger: Well, that’s quite a stark reality, Bob, to think about something we don’t want to think about, we don’t want to happen.

Bob Moriarty: Hang on. There’s a difference there. We do want to think about it, but we don’t want it to happen. If we don’t think about it, it’s going to happen. We do need to think about it.

Goldfinger: I can agree with that but I don’t want to think about it too much.

Bob Moriarty: I agree with that too.

Goldfinger: Do you feel like we’re going to have a similar seasonality in a year with maybe some weakness in the gold miners the next couple of weeks and then strength into early August and through September? Or do you think that this is just a running bull market where dips are going to be one day affairs and really aren’t going to last for very long?

Bob Moriarty: In February of 2016 … Now do you remember the big boom that we had late 2015, 2016? Do you remember that specifically?

Goldfinger: Yes.

Bob Moriarty: Okay. The actual market hit its low in December. Then it shot higher. Based on DSI and some other indications, I said in mid-February that we were going to have a correction. Okay? Do you remember that correction?

Goldfinger: Yes.

Bob Moriarty: No, you don’t because it lasted for a week. Okay? Yes. It was a tiny correction. I have farts that are bigger than that. It corrected for a week and then off it went and it went straight up from January all the way into July. Now, yes, we’re in a booming bull market right now, yes, corrections are very necessary, yes, the DSI is strong but this is probably going to be the biggest bull market in history. There will be corrections. I don’t think they’re going to be that strong but at the same time, if the NASDAQ is down 10% next week what’s that going to do to gold stocks? The answer is I’m not sure.

Goldfinger: I think that’s a big question a lot of us have. I mean, on some of the bigger down days over the broader market, we have seen the gold miners get swept under but that could shift if this gold breakout can stay above 1800 I think.

Bob Moriarty: Gold is going to breakout, and silver, soon and gold and silver are going to get real popular real quick.

Goldfinger: All right. I think that’s a good place to leave it. Gold and silver are going to get real popular real quick. I’ll throw one anecdotal story on that comment. A doctor friend of mine here in south Florida has put $3 million into physical gold and silver in the last few months. Previously, he didn’t think gold was a real investment. He sort of laughed about it. What’s happened in March and April and since then has changed his mind completely. I know a lot of other people doing similar things. It seems like there’s a rush to get physical precious metals and also to buy guns.

Bob Moriarty: Both of them are very rational investments right now.

Goldfinger: I think that’s a good place to leave it Bob. Thank you for your time and insights, may we all take care of our families and our health during this tumultuous year. I must say it also feels pretty good to finally have a precious metals and junior mining market bull market. May we also remember to take some profits on the way up…


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