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Let's bring in a man who puts his money where his mouth is so to speak it Gil Morales joins -- he's joining me now from Los Angeles frequent guest on this program all right.
You that this scare tactics I'm calling this just -- tactic from.
Pelosi I'm from senator Reid trying to stampede -- into agreeing to lend them another couple trillion dollars.
-- you buying it and how are you investing because of those -- tactics.
Well I think -- -- -- I think they are scare tactics and I'm not buying into any evident since when did the debt ceiling issue become the all encompassing problem behind the markets and the economy.
We don't have any policies that are gonna stimulate growth and get us out of the -- instead we -- spending all their time on this deficit or debt ceiling.
-- -- The way I see it you're looking at two choices it's a binary choice of default or devalue they are not going to default all this is -- they're just making a lot of noise about to see who can get their way so the -- -- look at playing -- and we recently bought back silver and gold as I told you last time I was on silver as a -- and a low thirties.
Gold -- a binder 15100 and they're making new highs as we speak you -- all -- nothing comic investor Ron Jeremy is not like you hate you and have a little bit that a little bit that -- year old general all out and right now you're all in metals yeah.
For the most part yes we try to define where trendy showing up don't we get a buy signal would Begin moving in and scaling -- so we've been scaling into gold -- -- and where.
Over 50% in both metals right now and of course they are not -- and I see that continuing.
I don't see gold and silver is being a sell ultimately until this whole global debt issues resolved.
And it's still not being resolved because now they're arguing about whether they're gonna be able to continue this whole Ponzi scheme.
-- borrowing and spending so we raise the debt -- big deal what does that do it just means more borrowing and spending in needs more devaluation of the dollar and it means higher precious metals.
Prices as alternative currencies you can even look at the Swiss franc -- that you think 'cause silver has gone back to fifty.
Yes idea actually have a price -- a 52 right now and 17100 on on gold.
Now most investors don't invest in foreign currencies that if they did.
Now you would be a -- Swiss francs Australian dollars New Zealand dollars Canadian dollar I sorts Swiss francs I like the Canadian dollar also I think Canadians are doing a lot to get their house in order and they're also looking at being a big resource producer.
And I think the US should also looking -- -- be looking at something like that let's get to our resource is let's develop them.
And become a resource producer rather than a resource consumer from other sources which only.
Adds to our trade deficit with builds on the whole problem that that we're sitting silently -- morale as you said it again Silva back to the fifty bucks an ounce arriving got it -- thanks so much -- -- -- go on the -- old enough.
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