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Has spent over four decades warning that the greatest risk to your wealth and your freedom is the failing financial system. We're talking about fiat money here. He's the author of the Silver manifesto. And we're going to get into everything precious metal. I'm excited to bring up our guest, David Morgan, right after we thank our sponsor. So you want to write your book, but you're not sure where to start? Get your free copy of my new book on book publishing@mariosfreebook.com and get your questions answered along with the start you've been looking for today. Once again, that's mariosfreebook.com so you want to write your book, but you're not sure where to start. Get your free copy of my new book on book publishing at Mario's free book and get your questions answered along with the start you've been looking for today. Once again, that's mariosfreebook.com so you want to write your book, but you're not sure where to start. Get your free copy of my new book on book publishing@mariosfreebook.com and get your questions answered along with the start you've been looking for today. Once again, that's Mario's free book. So you want to write your book, but you're not sure where to start. Get your free copy of my new book on book publishing at Mario's Free. Here he is, ladies and gentlemen, David Morgan. David, can you hear me? Can you unmute?

I gotcha.

Here he is, ladies and gentlemen, David Morgan. David, how are you feeling today, Mario?

I'm doing well. Thanks for the invitation.

Yeah, I figured it's such a relevant topic. Love what you've done, and it's always interested me ever since I was younger. Why do you think so many people. Well, let me just ask you, how did you get into it? What interested you into precious metals?

Well, I became very interested in silver in particular, but precious metals in an early age because at age 11, the coinage went from 90 silver coins to what I call Johnson slugs. And I just knew and you know intuitively that silver, you know, quarter of silver is worth more than a quarter of copper. But the adults around me didn't seem to notice it at all. But I did. And then as I progressed in my fascination with money and monetary history, I moved on and got a degree in engineering. So I have that engineering mindset. So I'm good at pattern recognition and see almost everything through systems thinking, which is really the way I think, the best way to analyze anything and prepared The Morgan Report based on some failures I had as an early investor primarily in resource sector. And when I started my service, I decided that I wanted to weight the portfolio and mitigate risk to reward. And I've done that ever since the founding. And certainly we've not done perfectly, but we've done better than average substantially. And I have mitigated the risk reward profile.

Why do you think most people over overlook the fact that the silver changed in the coins?

I just think it was just taken for granted. You know, quarters, a quarter and it looked the same, they stamped the same. Other than looking at the edge of it where, you know, you saw the copper sandwich, I don't think people really thought much about it. Now one area that I've learned later that did pay a lot of attention was the vending machine industry. And Mario, you're too young, but in my youth, most of any machines were mechanical. And you put in like two quarters and you pulled a lever and out came, you know, some chips or candy bar or, you know, cigarettes or whatever it was. And so all the vending people, almost all of them to man and woman, said, oh my goodness, they've changed the coinage. I'm hoarding, saving all of these silver dimes and quarters and halves and I will just restock with these cupro nickel coins. And they did that. So the first industry to really pay attention to the switching in the coinage was the vending industry.

I actually remember some of those machines. How old, how old do you think I am?

40 something?

I not. It's interesting because I actually used to work at different places where I was stocking different things and taking out the trash and I'd always get a Snickers from the vending machine back when they took coins and now they're all credit card readers and swipers and you can get like the things at the airport, you can buy headphones and you open up the whole door and they've changed so much. But the coins were always intriguing because you had to carry them in your pocket or put them in the armrest to go get food, back when it was a couple of bucks and everything. Do you think we'll ever go back to the coins being what they were?

Highly doubt it. Some of my peer group think differently and you know, no one knows for sure. It's interesting about what you said. I want to comment on it. Mars really in, you know, my youth, you wanted to keep coins on you because there weren't cell phones, you wanted coins. So if you needed to stop on the Road and go to a phone booth and call for help because your car broke down or call your girlfriend that you're going to be late or whatever it was. So you know, there are phone booths all over and you know, had it you really wanted f coins and you know, more than a dime for the normal local call because you might need to call long distance. But you know, we're all out of that habit now. But you know, I can remember back where you really kind of. It's almost not as addictive as a cell phone is today. But you really would think, or I would anyhow, you know, if I got some change on me. Yeah, I do. Okay. I'm prepared. If I something happens, I can run to a phone and make a call.

Yeah. One of the early business books I read, Frank Betcher how do I Raise Myself from failure to Success in Selling. One of the tips was always keep coins on you. So that way when you're ready to close a sale you could call to the home office to see if you could to lock in the deal or something. I was like, whoa. Yeah, but that's the thing that the timeless strategies, even though the tools change, you know, payphones, maybe a museum might have them, but it's probably been what, 20 years since music. Unless they kept them somewhere for a novelty since we actually used them, right?

No, I, I, there's none in this town. I know that.

So with everyone that's listening and has ing has a business, what would you say they should be doing to protect themselves for the next decade or 20 years? Just how we've already went through the last 20 years and we're joking about all the changes. But for some, for someone listening right now going, okay, I know what gold and silver is. I've never really got into it or I've gotten into it, but how can I do even better with it? What would you say to them?

First of all, I think the most important thing I could say is that gold and silver don't predict the future, they expose the present. Most people look at markets through a short term lens. I look at them through history, cycles and human behavior. I've spent over four decades studying silver, gold, the monetary systems, the resource sector. Not just as investments but as truth detectors for what's really happening in the world. I'm not bullish or bearish. I'm prepared. And that's where we need to be today.

What could someone do right now? Let's go back to the person who's done nothing with precious metals. What should they do? Now to be better prepared.

Well, in the unlikely event of an all out financial collapse, in other words, really we're trending toward a hyperinflation. And in a hyperinflationary depression we have the currency not being trusted. And for the audience, and I know you know this Mario, but just to bring everybody up to the same place, it's the Weimar Republic, it's Zimbabwe, It's Argentina every 10 years where the currency basically isn't accepted, that happened in Venezuela. So people understand in those local currencies that it can happen. But no one's ever really thought it could happen to US Dollar. Now I don't believe it will happen to US Dollar. I think we'll get a new system before it collapses completely. But again, the trend is moving that way. So because of that possibility, be it 1% or 10% or whatever percentage, you must, and I emphasize the word must, have some exposure to the only thing that holds up in a hyperinflationary depression, and that's precious metals. Real estate will help you, even some stocks may help you. But if you go back into history, you'll find in the Weimar Republic the stock market went up and up and up and up, but it did not keep you ahead of the inflation. Only precious metals did that, that same thing in Zimbabwe and other, other failures of fiat systems. So again, I wouldn't go overboard and it seems expensive relative to, you know, the price of gold and silver, but relative to the money supply, they're actually still undervalued. What I'm saying there is an ounce of metal compared to the amount of M2 that exists is actually as favorable now as it was when silver was like a $10 the ounce even though it's nine times that amount. So I'm not trying to compare it to the price, I'm trying to compare it to how much inflationary funding money has been printed. So on that basis I'll be succinct. You need to have exposure to precious metals. 10% is probably more than enough. But if you're sitting there thinking that, you know, my business is great and you know I'm in a recession proof business, good for you. And that may be the case. But if the currency depreciates faster than you expect by having that hedge, that buffer, that alternative, you are prepared regardless. If we go into hyperinflation, obviously you're going to come out a lot better than people that don't have precious metals. If we do not, the metals themselves are going to at least break even and probably Bring you in a realized gain of profit.

Would you ever tell anyone to be more than 10% in precious metals?

I have. I was asked to write the 10 rules of silver investing decades ago. And the last rule was too much of a good thing is too much of a good thing. And I said at that time in writing that 10% was probably enough for any portfolio. About two years later I was speaking at the Money show in San Francisco and from the standing on the podium behind the lectern, I stated that I was up and it's a 20%. And the reason I did that is the Iraq war had just broken out and silver being a medal of industry, monetary aspects and also war, I felt that the exposure should be increased. So I go between 10 and 20%. But again it's, you know, the bare minimum to me is 5, 10%, 20% is plenty in my view. But there are people that go over that personally. There's been a couple of studies. One by CPM Group in New York, you can look it up, looked at from 1968 to present day. So it's not like, you know, thousand year monetary history study is 25% exposure. And then Ibbotson and Associates did a portfolio analysis years ago and it was going back, I forget how many decades. Few hundred years if I recall correctly. And their percentage was 15%. So you can see from, I would say unbiased, but certainly objectivist can be portfolio measurements that I'm not out of the ballpark. I'm in the reality zone, you might say.

Very good. I appreciate you sharing that. I've always been intrigued with this and got into it years ago for all the reasons you're talking about. How would you, you're talking a lot about silver. What are your thoughts on gold? Is silver really better than gold or is gold better or should you have both?

Well, when I get, you know, premium member paid client, I always ask them, I prepare how to use the mortgage report. And in that report I talk about how to build a portfolio around the precious metals resource sector. And I talk about gold and silver and which one's which. And so what I emphasize is the older you get, the more you favor gold. Gold is really establishment metal. Now you're not going to hear that from Wall street, but if you look at what the central banks are doing, they've been buying gold hand over fist for the last few years because they know it's the best money you could have and stood, you know, eon centuries of time and it just came through. Whereas again, all fiat Fails. So they have kind of a hedge position in gold. So I favor gold. The old you get silver, sort of like a NASDAQ versus a Dow investment. It's got more juice to the upside, but also the downside. So again in that report I just say, look, the more young and aggressive you are and the more risk you can absorb. That's usually when you're younger. The more you could favor silver over gold or vice versa as you get older. So that's the basic guidelines I give. I think all portfolios should have both. But again, if you're going to cash out and retire and you wanted to swap your silver for gold and be gold only, I wouldn't have a. With that.

Very nice. So you're saying between 10, 20% for most people and I know you're not giving financial advice specifically. Everyone should be doing their own stuff, Right?

Right.

Okay. So of that percentage, whatever someone deems necessary with their, whoever's in charge of helping them, like, let's say 10%. Okay. What percentage should be gold and silver of that?

Yeah. So most portfolios I would say maybe very conservative. So it's a conservative portfolio, a mid portfolio and a very aggressive portfolio. So in a conservative portfolio, 50, 50 meaning 50% actual and physical hard metal that's very conservative. There's no paper tied to it, it can be outside the banking system and it's the money of last resort. You can borrow against it, it can be collateralized, etc. If they're aggressive, you could go more like a 30% metals itself favoring silver, and then go 70% into the mining or resource equities. And there you would be in 70% top tier, 20% mid tier, junior producers and 10% in what I call rank speculations. And so again, it depends on the personnel, their age and how aggressive they want to be. Aggressiveness does pay off, especially in a strong bull market. In a medium to faltering market, really being conservative pays off better.

So you packed so much wisdom in there. I want to touch on the. You're saying to have the physical gold, gold coins and bars, silver coins and bars, as a percentage of that, but also for people, for the person listening, you can also you mentioned the mining, which I've always found fascinating, but could you elaborate on that for people thinking you're just talking about coins and bars.

And once you've established money of last resort, the hedge, whatever you want to call it, then what you do to get, you know, leverage is you go into the mining shares because the mining shares are Based on earnings. So if a company is making a 10% margin and that $30 silver and silver goes to $90, that margins in 10% anymore, it's maybe 60% or who knows. And so you can do the math. I'm not going to do one in my head because it varies mine to mind. But get the idea it's going to be substantially greater. Well, that goes to the bottom line. And the real stock market as I refer to it, is based on earnings. So if you're earning $1 a share at $30 silver and all of a sudden you're at $90 silver and you're earning $4 silver per share, the share price is leveraged to that increase in earnings. So you may get a multiple of 2 or 3 x 2 or 3 times what you would get just on the silver alone appreciation. So if silver goes from 30 to 90, that's a 3x. But an underlying minor share might go up 9x. Now those are rules of thumb. I mean there's nothing that says oh my goodness, it's got to go up. But the bull market, they do exceedingly well. What's interesting right now, Mario, and I want to say this for the record is that most of the top tier cash rich unhedged blue chips are selling as if gold is around 2500 the ounce and silver is around $35 the ounce. And yet we know that gold today is around 44, 4500 the ounce. And silver's pushing past 90 last time I checked. So really again, in a discount, the mining shares, does that guarantee that they're going to go double from here? It does not. But that's, you know, talk to your own financial planner as far as I'm concerned and what I'm writing in my private work is that is the place to be for new money. And even if you're new, you know, I said I don't really want to pay that much for gold and silver. You can buy silver at a discount in the ground. Now, I always advocate having a real metal first because it is the most important. But once that's achieved, as we said earlier, you're aggressive. You know, I'm going to have a little bit of real money. I want to get the leverage in the mining share. So take your pick.

I appreciate that insight. I. It's interesting to see what it's. I remember when it was 20, 25 bucks a share for silver and gold was a whole lot less than it is now.

Thousand bucks was a big number. Sorry to interrupt, but I Was called by one of the major financial channels to come on board and do a discussion as a panel member. And they were actually quizzing me if $1,000 was the top of the gold market and if it was in a bubble or not that. And I actually said, no, it's got a lot further to go. $2,500 was my minimum target at the time. And I was kind of being talked over and I didn't want to go on record as, you know, holding my thumb, so to speak. So I kind of broke in. I said, no, the bubble is not in the gold market. The bubble is in the bond market. Well, there's a delay on most of these channels, as you know, Mario. They cut me off. They never actually got the, I won't say the network, but they never heard that. The bubbles, the bond market, they didn't want the financial channel to put that out. In the blog into the news feed, they claimed technical failure. And my word never got out there. Not trying to build myself up. All I'm trying to say is, you know, I, I know the problem. Studying monetary history, the problem is the debt markets, or if you want to call them the credit markets. And we have over abused our ability in the United States to print money and get something worthy from it. Printing wealth does work for a certain amount of time. Unfortunately, we're at the end of the road now and we can print and print and print just like Zimbabwe or Venezuela or Argentina or any of these failures. And there's a point in time where you get the crack up boom and you print and print and print and people don't trust it anymore. And hopefully the US dollar never reaches that point.

Yeah, I appreciate the honesty because it's one reason I love doing the show. I, if it wasn't obvious, say whatever you want right now. I'm not gonna cut you off. I want to bring the best to our listeners. And I remember when it was lower and I just looked at my gold last week or whatever with the beginning of the year before I went to speak out of state, out of town, and I was like thinking the same thing. How high will it go? Because it's already doubled and tripled and quadrupled depending on the point in time. But do you see it go into 6, 7, 8, 9, 10,000 an ounce?

I got to push back a little bit. I know you got, you're very smart and you do a lot of interviews, but you know, how high will it go? And that's more or less the question. I'd say the vast majority would ask, but really the opposite is the best question to ask. It's not how high will gold go? It's how low will the dollar go? Because when you think about it, an ounce of gold is the same mass everywhere in the universe. It's a constant. It never changes. So gold doesn't change. What changes the value of the currency it's being measured against. So the real question in my view is how low the dollar go. Is it going to go to zero? Then where does that put gold? Puts it at infinity. Now I'm not saying cold is going to infinity, but going back to our earlier discussion, look at the Weimar Republic. I mean the amount of renting marks that it took to buy a loaf of bread was astronomically insane. Same thing with Zimbabwe. Again, I don't think we're going there, but the traffic trend is there, so. And it accelerates at the end. And that's what I'm really appreciative of. Excuse me, new venues like yours. Because there's people out there that are just kind of been kind of on the edge and sort of like it doesn't seem right. Sort of like the matrix. Something's wrong with the world, Neil, but you don't know what it is. But you felt it your entire life. It's sort of that A lot of business owners especially, and we're right there, this thing is accelerating. You don't go from $2,500 gold to $4,400 gold as quickly as you have unless the market is showing you something strategically long wrong in the whole system. I'm not trying to scare anyone. I'm trying to sit here and be as objective as I possibly can. Of course I'm somewhat biased because of my. My addiction to monetary history and the failure of currencies. But nonetheless it's something that needs to be paid attention to. And don't be an observer anymore. You need to be a participant.

I appreciate the insight because I mean if it went down, back down to probably when I started looking around, $200 an ounce, I wouldn't be upset. I'd be grabbing up even more of it. But what does that mean to everything else? Probably not great.

Well, if it were to go back to the breakout, which 252the ounce and you're quite good memory, what that would really say is that the paper money is not failing and that, you know, it's worth something and we can rely on it and all those things that, you know, my position currently is just the opposite of that. But no one really wants to see a currency collapse or a currency failure. I don't. No one does. It doesn't serve anyone. The best we can do is really to get our spending under control and level things out and just basically really. I don't think we could grow our way out of it at this point, but we might be able to overuse expression, tighten our belts enough to maybe mitigate the damage where at least we might have a lower lifestyle, you know, across the aggregate, across the average person lowers their lifestyle, but at least we get through it with, as, you know, little damage as possible. The last thing you want is where people don't trust the currency. That's, that's the ultimate, ultimate failure. Again, I don't think that will take place. I think the banks are prepared to put us into a new system or at least to try to put us into a new system. But the big question there is one, will they do it in time? And two, will people accept it?

Wow. What new system would you envision? And does it. Yeah, what new system would you envision?

If I like to be, you know, put on my engineering hat and try to go totally by fact. And I lectured at the Gold show in New Orleans a couple years ago and my presentation was neither gold nor silver. My whole lecture was on the new monetary system. And basically all my slide deck was based upon the bis, the bank of International Settlements and what's on their website and how they plan to maintain control. Bankers want to maintain control of the monetary system. And basically it boils down to a cbdc, a central bank, digital currency, or even a private version of that, but a tokenized system based on stable coins and their rules and everything clears through them. And they can basically track, tax and monitor everything that's done and base your spending on a carbon credit score, basically. Now, it didn't say that on the BIS website. So someone fact checks me. There's a. Wait a minute, David. It's saying that on the BIS website. So I am leading into what other others have said and I agree with. So that's a bit of conjecture on my part, but fact only. Yeah, it's a digitally tokenized new unit that's a cashless society based on certain rules and that will be the new system.

Well, you answered my second question too, because when I caught myself there, I was going to say, how do you envision the new system? And do you think it involves Bitcoin? And so whether it's brand name Bitcoin or not, you do believe it will be Digital currency.

Absolutely. That's what they want. Again, will they be able to implement it? How much pushback will there be? Who knows? I know there'll be some resistance, but most people, you know, the old addicts, are too busy making a living to even pay attention to stuff. That's why people like you are so important, because people, all people, have a vested interest in money. I mean, that's what got me so enthralled with this whole concept because even as a little kid I understood that no matter who you are, how rich or poor you are, what your nationality is, what your religious belief, everybody cares about their money. I mean, that's the planet without money. You really can't survive unless you, you know, an Aborigine outback or whatever. I mean, there's very few instances where you can live off the land these days. So that means it touches everyone. And because that universality, it transcends so many things that. That's why I've dedicated my life talking about why my mission statement is to teach and empower people to understand the benefits of an honest monetary system. Because that basically levels the playing field, is a perfectly level field. No, it is not. But it's far superior to the situation we have now where you have a group of billionaires at the time, same 0.0001%, making most of the rules and laws, where the legislators in any country are basically at their beck and call doing what they want for their interests, and the government's just there to support the money ma. The money masters, as I call them. Whereas in a sound monetary system, basically the unit of exchange is the same for everybody.

Do you think the gold standard would ever be re implemented?

I think it's a possibility. I think it would. So I want to split hairs a little bit. Mario. A true gold standard. No, I mean, this is where we have basically gold coins in our pocket and that's the, the unit we actually exchange with. But a tie to gold, definitely. I could see where the CBDC we've been talking about or a private JPM coin, or an Amazon coin or whatever the token is, could be implemented and accepted, or not accepted fully. Where the banks have to rethink what they're doing. And they said, well, we're not getting much adoption to our new system, so here's what we'll do. Plan B is that we will implement the new system tied to gold, oil and wheat or whatever. So maybe a basket of commodities or a basket of currencies or something along those lines where people gain Trust in the new system that's based on something real. Gold being the stalwart of of all commodities as we know. I mean the people have always sought gold to be gold and silver, but primarily silver throughout history, but gold in more modern times to be the ultimate money.

So appreciating the wisdom and insight because there's very few, I think even talking in my experience and I interview people professionally, speak have my books been doing this for a while now and I still feel like there's so few people talking about it, let alone understanding it. So thanks for doing the report and everything you've done over the years to make it easier and accessible for people. Let me ask you something on the personal side. I got the wheel of whatever here. We're going to spin it. And aside from business, What do you like to do when you're not speaking or writing your books?

Well, I used to run triathlons, but that was 20 years ago. Kayaking. I like to get out on the kayak and get on a river and there's something about water in me. I've always liked water. And just being away from everything, you know, not seeing any man made stuff, you know, I can't see the road or the highways or cars or buildings. All I see is this beautiful nature. And then a crane goes by. You see a beaver over here or the ducks. It's just puts me in a different place and I love being in that place.

I'm very much the same way. Love boating, beaches, swimming, appreciative of technology. It lets us connect like we are now. Like to get away from it though, go under the water. It's real hard to have computers under liquid. I remember seeing something a few years ago when everyone was talking about the virtual reality, like how cool it is. You could go into nature and do all these different things. And there was this meme about guy standing on a mountain just looking over the mountain or the, with the water and the rivers and it's like oh, actual reality. It's been here the whole time.

I'll digress a bit on that vein. My number one most favorite thing to do really was scuba diving. But I left California 26 years ago and since I moved to Washington state where I'm sitting now, I haven't scuba dove in a long, long time. But those memories will never leave me. Being in that three dimensional world and being in Cabo San Lucas and seeing these huge. They're not seals, there's another name for them. They're huge. They're all they're almost small whales, but they're bigger than. Anyway, just being in that wonderland and just the beauty, especially in certain areas of the world that are very pristine, a whole different energy. I never came out of a dive without feeling refreshed, invigorated, and in awe of the magnificence of being alive. I mean, it just. It's incredible to put in the words.

Would you ever do it again? Do you miss it?

I do miss it. And yes, I would do it again. My scuba card. The end of this year, I don't know, maybe I'm invited to be in Cabo. I think it's in November. So if that comes, if that materializes, I'll probably go ahead and do it again.

That'd be cool. In. In the vein of swimming in the ocean, scuba diving and gold, have you ever wanted to search for shipwrecks or something with, like, under the ocean where there could be buried gold from the 1600s or whenever?

I'll be honest, the thought occurred to me a couple times, and there was one guy in our dive group that did that. I did a curfew one where there was nothing there. It was very, you know, it was off the coast, not very deep. And, you know, it's just a shipwreck. There was any gold or anything on it, but it didn't really appeal to me. I mean, after I did it, I was more into what I just described or maybe just, you know, searching for abalone or lobster or something like that. But there are people that love it and just never float in my boat, so to speak. I don't know why.

Pun intended.

Right?

Well, I love talking about all this. I have a few more questions for you. We're going to come back after we thank our sponsor and for the imperfect action round. You know, you should have a book for your business, but why don't you yet? Do you think you don't have the time? You don't want to look stupid or you're ready to go right now, but you just need to be pointed in the right direction. I get it. I was thinking the same thing before I wrote my first one, too. Get your free copy of my new book on book publishing@mariosfree book.com and get your questions answered today. Once again, that's mariosfreebook.com. you know, you should have a book for your business, but why don't you yet? Do you think you don't have the time? You don't want to look stupid or you're ready to go right now, but you just need to be pointed. And we're back with the imperfect action round. David, are you ready to take imperfect action?

I'm ready.

All right, I got three questions for you. The first one is what is the fastest path to the profits?

I think to gain wealth is to not be too emotional. Realize that fear causes bad timing. Realize that greed causes overexposure. So I think the main thing is to thine own self be true. Don't self sabotage.

Wow, thank you for that. Number two, what is the biggest problem you see, Pete? Your prospects making and the fastest way for them to fix it.

The man wanted to. Goes back to what I just said. Most people catch on to the fiat story. They realize it. They do maybe some cursory research and realize, oh my goodness, this guy's right. And they buy too much. They do it emotionally. They buy too much of the wrong kind. They maybe hook up with the wrong dealer, get talked to something that they find out later was overpriced. So what I teach in that 10 rules of silver investing is to start slow. In other words, just take a, you know what I call schoolboy investment. Something very minor relative to what your overall intent would be. So let's say you got a hundred thousand to invest. 10% of that will be 10,000 in the precious metals exposure. So what's your first purchase? I don't know, 500 bucks. You know, just find out what it's like. So I'd say that's the biggest mistake, getting caught with the philosophy of it and getting emotional about buying too much at the wrong time.

Number three, what is the best way to maximize client lifetime value?

Client lifetime value. It is a people business. I think people really, really understand authenticity. You know, I've certainly had failures, failures within my industry. I mean, a couple of the rank speculations that I've chosen and put my money into and encourage my readership to take a look at them have failed. And a couple of them have been really, I hate to even use the word scam, but let's say I've been taken for a ride. And so my people, I don't feel bad, bad from the aspect of having the experience I had before I started the Morgan Report is I realized any speculation is money you could afford to lose. So if you followed my guidelines in those, let's say, improper situations that I took part in, you didn't get hurt badly because I said these are speculations. Because they're speculations. You can put a little, but don't put a lot. You can lose so I'll just submit that. But that's something I think is important for people to say. They'll forgive you, I think, if you're honest about it. And this last one, which was a silver and gold based tokenized asset, which was ahead of its time as far as theory goes. It was a great idea and it still is. Unfortunately, the people that founded that entity were, I'll just call them what they are, criminals. And it was several years in, I put a lot of money, got a lot of people encouraged by it, and it turned out to be a falsehood. They basically stole from us. Don't want to go down that rabbit hole too far, but I'm willing to make my mistakes. When you're wrong, promptly admit it, because that builds your authenticity. Again, if you, if you frame it correctly. And Mario, I know you do this, you're, you're in a, you're in a good position because if you know it's a speculation and you bet accordingly, then you can't get hurt too bad. It's when the story is really great and you know, I trust David and he bought it. Oh, oh, I'm going to load up on it. No, follow the rules. The rules are there for a reason. Nobody's perfect. And I probably labor in the point. But I'll give it back to you, Martin.

Yeah, because just because you got it, you're in a different, completely different financial system than the next person or the next person.

Yeah. You know, some people get lucky. I mean, they buy that penny stock and it does go from 12, 12 cents to 12 bucks or whatever. They think they're a genius or whatever. And it can be done every time. And, you know, I'm happy for those people, but it really sends the wrong message. Those things are a 1 in 4,000 bet, which is probably better than the lottery, but not a whole lot better than 1 in 4000 is pretty poor odds to bet a lot of money on. Yeah. You want to take a lottery ticket? Yeah. Five bucks, ten bucks, whatever the appropriate amount is for your net worth. But when you start looking at nothing but those real long shots, you're not investing, you're gambling.

From a percentage perspective, is there any certain percentage you recommend to someone, regardless of net worth, saying, you know, don't overextend yourself more than X amount percent?

Well, going back to how to use the Morgan report, I mean, 10%. So you go from the 100%, 50% of that's in the real metal itself, and then of what, 50% that's left 70% goes into blue chips, 20% into near blue chips or producers and then what's left is 10%. So down to a pretty small percentage. And in those, excuse me, you make 10 small bets. You know, again, money can afford to lose and if that's more than you can afford to lose and don't make those bets. I mean a lot of my Clientele is, are 50 years old or older, retirement or close to it and they basically stick in the blue chips. And that's what I encourage them to do. You know, those days of making these bets are over. You know, if you like one or two of the stories, put down a few bucks on it and watch it. You know, that's my job to watch these things for you. What I like about that, that part of the market is it gets mispriced at times. You could have a 12 cent stock and all of a sudden it goes to 45 cents in a couple of days. Well, why would that happen? It's usually a material change, which means they drilled into something and it's an ore body or close to it. So now it's my job to look at what they actually found. So what's the truth there and what's the market say the correct price is? And in some cases that stock is worth four bucks and it's only moved to 45 cents. And I will get on, do an alert to my subscribers and tell them, look, here's why it's worth four bucks. It doesn't mean the market will bid it that high, but you can now make a more substantial bet. Don't bet the farm. But now it's not money you can afford to lose. It's a different company now. And because it's a different company now and the market hasn't priced it properly, here are my suggestions. So that's happened a few times, in fact at one time, not to brag because you know, I've lost money and made money in the markets as you know, but early on I seem to have the hot hand. It seemed like most of these junior situations actually became mines. But I'll be honest, I haven't had a hot hand in that sector for a long time. But I don't have to because what I teach is blue chips are where you make the most money safely. And those things just keep chugging along. My top one in the silver space is up 30 fold. For silver to be up that much it'd have to be 150 bucks right now. And it's not, it's at 90, it's doing well. But a stock, as I said earlier, outperforms the metal itself if and only if you pick the right stocks.

Wow, that's impressive and appreciate you sharing. I mean you make a lot of good points with everything you've said. But I want our listener to understand like you're saying that there's different ways about going stuff is what I'm hearing. And like you're saying the silver, it would have to be nearly double right now what it is and it doesn't have to be right.

Yeah, I mean there's a lot of my friends are in the metals only business and you know, I like them all. I mean I, you know, but you know, they'll make the statement that don't buy, don't ever buy a miner share, the government's going to take them over. That's one meme that's out there constantly. Another one is, well, don't buy a mining share because the metals itself outperform mining shares. And you know, to put my honesty hat on on aggregate, which means on the average they're right. I mean if you look at the xau, which is the gold miners index of hui, which is another mining index compared to gold or silver, the pretty much break even. So why take the risk in a mining share which has more risk than just buying metal outright. However, as I just said, if you know what you're doing in the space, you can definitely outperform. And that's where, you know, I would like them to tip the hat to me. They won't. That's okay. I don't really mind it that much. But the truth is that our top tier performance has outperformed the metal itself.

See, that's the thing I love about YouTube channels, podcast, books. We can share whatever we want and in most instances it's probably different than what mainstream is. But they, they got their system and we can do and say whatever we want. It's why I started this. And I know you're an author also. Where should someone look for your books at?

Well, the Silver Manifesto, I'm thinking about reprinting it. I want to update it first but I would really encourage people to go to the last two and a half years of my life, which has been a documentary. It's about the control, fear and stress that money causes most of us. And it's kind of a spiritual look at money, Mario, and it's for free. Most of it was funded by yours truly. I had a couple mining companies that chipped in and one or two bullion dealers that helped me. But this URL is SilverSunrise TV. That's SilverSunrise, one word TV. It's an hour and a half documentary. It's done like the Four Horsemen film that I was in decade more than a decade ago about the collapse of empire. My film kind of picks up from that one about why we're so stressed and why we're controlled by this monetary powers and what we can do about it and what really happens in a reset where we revalue everything. And one of the big values that we have to revalue and my estimation is our human experience. You asked me about scuba diving or whatever and what's the price of that? It's priceless, that memory. You couldn't put a price tag on that. I think we need to get back to that. I think we're taught and teaching our kids way too much. About to be successful is everything that's outside of you. It's the right car, the right house, the right job, the right restaurant, the right social media channel, the right music, who you hang with, all of that external stuff. But really what's important is your integrity, your authenticity and who you are as a human being. Because you leave this place, the best thing you're going to leave is your memory. What effect did you have on others, not how much cash you had. So that's kind of the theme of the film. I'd love to have you watch it and I would love to have you invite me back and maybe reverse role slightly and say, Mario, if you were in the film, what would you say would be the two most important things to teach our youth?

Well, thank you for putting it out there. I did see it and I do want to check it out. I think there's not enough people talking about this type of stuff. And again, it's why I love publishing books for people. Why have people on the show. I've been an advocate of video. And you've managed to compile all of it together on a very interesting topic that affects all of us. So thank you.

My pleasure.

Is there any other website? There's one I'm looking at right now that. Where would you tell people if they'd like to learn more?

Yeah, my main landing page is the best start and that's the morganreport.com everything branches from there. You can get our free newsletter, which is free. If you're interested in paid publication, there's a subscribe button. We give a money back guarantee. And then also on the landing page, morningreport.com there's direct links to our Twitter feed, our LinkedIn channel, the Facebook presence, our YouTube and probably Instagram and whatever else we do.

David, it's been an absolute pleasure. I look forward to staying connected and I wish you all the best.

I wish you the same. And all of our viewers.

All right, Expert Authority World, we have another great episode here today.