Bill Meyer Show Podcast - Sponsored by Clouser Drilling www.ClouserDrilling.com - 10-15-25_WEDNESDAY_7AM

Episode Date: October 15, 2025

10-15-25_WEDNESDAY_7AM

The Bill Myers Show podcast is sponsored by Klausur drilling. They've been leading the way in southern Oregon well drilling for over 50 years. Find out more about them at Klausor drilling.com. It was cold this morning. Man, I got to tell you, this was the first day in this fall that I could actually see my breath coming into the radio station. I was walking and going, yep, it's fall. Now it's fall. We can call it officially fall.

It's not when it's meteorological fall or when the National Weather Service says fall. It's when we do. But anyway, let's see. Speaking of National Weather Service, they're the ones that I think are triggering off the Great Oregon Shakeout. And that'll be 1016 tomorrow. 1016 tomorrow is when they're going to be doing that and sending out the emergency alert. You'll hear the on KMED and KVXG all of our marquee West broadcast stations here in Southern Oregon, then the cable and everything else.

And what I don't know, I think the cell phones will go off too. I don't know if they're making this a total wireless alert, but I know that we're going to be doing the great out, the great shakeout, because the National Weather Service will be triggering that for the required. We've got to test this every year. October 16th is the deal.

And at 1016, 1016 at 1016 tomorrow, and this way you're supposed to be thinking deeply about what you would do if there was a earthquake other than panic, run around, scream, and shout. Yeah, we don't want to do that, but, you know, maybe think about your go bag. I don't know. I can't say that I've necessarily as prepared with a go bag as I once was. I think I'm going to have to, you know, it kind of sits in the corner of the closet and you don't do anything.

Maybe I'll start doing it. Maybe go through it this weekend and get a little bit better. You know, you kind of get a normalcy bias. Everything works fine for a while until it doesn't. and, you know, then you wish, gosh, you know, I wish I'd taken more preparation time, right? I'll work on that. Maybe you can too. Maybe we all can a little bit, but be aware that tomorrow the Great Oregon Shakeout. All right. Jeff is in Selma. Hello, Jeff. How are you this morning? It's on your mind. Oh, doing fairly well. It's kind of horrifying to know that you can see your breath coming out of the radio station.

Well, not coming out of the radio station, going into the radio station, walking across the parking lot. I will be more precise in my language. Thank you very much. That's a little different story there. But on the $1.6 billion GM hemorrhage, did you read the LinkedIn article? LinkedIn article on the GM hemorrhage? No. Help me out on that, please.

Okay. Well, I mean, that's what the subject matter was, is the $1.6 billion loss on EVs for GM. Oh, okay. That's what you've had, the EV hemorrhage. Okay, yeah. Okay, well, anyway, going through there, of course, when LinkedIn puts up an article, everybody comments on it, so I'm going through, and the guy from Bloomberg, of course, blames Trump for it. But just before that, somebody lays out the facts.

One of the facts is that the chief financial officer was telling the investors that GM has never made a profit on EVs. I don't think anyone other than Tesla has made any profit on. on any of their EV lines? Isn't that the case? Weren't they really, you know, put out there for compliance? Yeah. So, I mean, without government subsidy and tax incentives, the EV market would be abysmal.

Or it would be a very niche market, you know, for people, you know, very wealthy people. And, of course, given the prices of them sometimes, yeah. But I came across, through LinkedIn, I came across another article on a place called the Logan's Zone. And to read this first paragraph, over the last 12 months, General Motors CEO, Mary Barra, has sold more than $145 million of her own company's stock. That's not a single plan to diversify a portfolio. You know what that says? It's a sustained systematic liquidation of personal capital on a scale that's simply breathtaking.

Well, what that is indicating, though, is that... number of significant information, informative stock buys from there. Okay, hold on, hold on, hold on. Jeff, I'm trying to interject there. In other words, the CEO of GM is selling off her stock. Yeah, now, the point is, though, has GM stock been strong? I have not looked at the stock, okay? What's that?

Is the GM price for its stock strong? Well, that I don't know. through this article and it's indicative that if she's selling it off that means she thinks that her company is at its peak value I would agree okay I'm glad you went there because that's what I was going to to mention when you see the insiders that are selling off their stock at this kind of situation especially with a frothy market we and you could argue that what's been going on in the stock market is relatively frothy we'll talk to Todd Sheets about that who is a

market guy here in the and then she's only made a and the entire leadership team is doing the same thing. Oh, that's always a bad sign. Right. Yeah, nobody sells their stock at this port of situation in which they, unless they think that the only way is down. Right. So that's what I found interesting.

That's what I thought I'd passed into your brain this morning. And I appreciate that greatly. Thank you very much. Okay. Jeff and Selma, it's 21 minutes after seven. some emails of the day emails of the day are sponsored by dr steve nelson at central point family dentistry dot com and not only are they great people you know i go there from my cleanings and i get my my teeth serviced so i can keep them from uh be turning into teeth because i'm missing

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You know, it's not worth putting a brace in there or doing anything else to correct. the tiny bit of overlap, but he ended up sawing it down. It was pretty good, didn't cost much, and it was just a really good thing. Just the example of how they can help you, not only keep your smile, but also make the smile look better, too. All right, central point family dentistry.com. Doug Dean writes me, we're continuing this conversation about one year after the Klamath Dam removal, all right? and the story that we were getting from the Lost Coast outposts, you know, that website, and he was talking about fat fish everywhere just going crazy.

And I was just opining, and I'm not a fish biologist, but I was just kind of coming out there. Hey, wait a minute, you know, they're talking about these fish coming up, the Klamath River. These are fish that went down the river under the dam era in which there was controlling of the flow and controlling of the temperatures, which now we're not going to be able to. to do. But the whole push of this article was about, you know, hey, we're declaring victory now. Look at this. Look at these fish that are coming back. Well, those fish would have been coming back anyway, right? That's just it. So, and that's what Doug was saying. He says, Bill, I thank you and think your remarks about that recent run of Klamath River salmon, very likely from a generation

of fry hatched four years ago. And I was trying to imagine these fish actually surviving the run upstream in the turbid, chemically dirty water, as Captain Bill has described it. I'm picturing the fish being trucked up past the dirty water downstream and the Lost Coast outpost article hiding that fact. I don't

know, but you do wonder about this, Dean. I get it. Fish may arrive in their home waters and still have no proper spawning beds left to use unless those spawning beds are in streams above the original dam sites. I understand fish don't eat while

swimming up river to spawn. So if natural food doesn't exist in the dead river water, the fish aren't feeding anyway. But still, that reference article made about the happy tribal observations, if true, are worth keeping an eye on it. The photos of all the wildflowers along the banks are also curious after Captain Bill Simpson's observations and what he's seeing. I'm thinking what might be going on here is Doug and others who have written me about is in fact I still have more on this but most of this was being done or they were doing

this article on areas of the Klamath River much lower below the dam removal section where most of the damage has been done most of the beds have been covered up so maybe that's maybe that's part of it you to go down

Scott River and various other places much farther away from the dam that may have something to with it. It might at least. Okay. 770-5633-770 K-M-E-D. Jim had a question here. Oh, conspiracy theory wheels up Wednesday. I didn't see the email in time, Jim, but we'll put you in the email section here. Morning, Bill and Eric, what do you guys think of this? I read or listen to recalls for vehicles every day, many or for vehicles 10 to 15 years old. To me, the recalls aren't recalls because it should be normal wear and tear. What I believe is that there are two reasons for

older vehicle recalls. One, to try to upsell you out of your older vehicle to get you into the new hybrid, electric, or efficient vehicle. And number two, to create an inventory or list of who owns what, mileage and more to get an idea of what is on the road in older vehicles. I believe it is a work between manufacturer state and federal government for insurance, gas, oil, and prices. And Jim, Grant's Pass, has sent that.

Jim, that's an interesting theory. I have to think about that one, I'm going to forward your email on it. Eric and see if he has a thought on it. We'll talk about it for next week. Butch writes me about health care. He says, Bill, I cannot help but think that President Trump has folks that know insurance and health care working on a plan. This is that ACA, the ACA tax credit expiration the end of the year that mostly the libs are talking a lot. But anyway, Butch seems to think that there is a plan that is better than ACA in the work. I'm not sure why it has been brought up, but I'd never question his tactics. I've experienced

The Donald for many years in the East, and he is a genius, which I appreciate your writing. Granny writes me about Portland and ice and the naked bike ride. It says, Bill, please, please, someone get ice a water cannon and use it, hey? I got that. Keith writes me also this morning. Hey, Bill, good luck on finding parking close to RCC in downtown Medford tomorrow. Just a heads up. That's when they're going to be having that town hall 530.

and this is for the 15-238 Creekside deal. Now, I was supposed to have had them on yesterday. I think it's been rescheduled. I think we got that for Friday morning. That'll be after the town hall. It'll be interesting to see where we go on this because a lot of people have questions about the houses that are going to be torn down

and also whether it will pencil because this is the part that even when I was talking with Nick Cart about this a number of weeks ago, I have it on good authority that the county in Eugene, you know, Lane County, when they were approached with this from the Eugene Emeralds, even though I'd love to see the ball team here. I like baseball. I'll tell you that.

That's my dog in the fight. But be that as it made, it was well known that taxpayers and the people in Eugene and Lane County, they told the plan, the folks from Eugene Emeralds, for their $100 million proposal for the ball field, that it wasn't pencil. It would not pencil. It does not financially figure out and is not feasible.

And that's not the only thing, the only reason why they want to raise those hotel motel taxes. But if one part of it is a little bit shaky, no, right, is the rest of it. I would kind of like to know who would own the stadium, all right? Who is responsible if it doesn't pencil out, you know, because you don't want it to, or, Of course, I didn't, you know, you don't want a bankruptcy sale or something like that. But, of course, you know, maybe the best person who will be able to do something with the ball game, the ball stadium, is kind of like water parks, you know. You never want to be the person that builds the water park expecting to make money. You want to buy the water park out of bankruptcy, you know, a few years after it starts.

Those are the ones that make money. I don't know. But anyway, I appreciate the emails on this, okay? Sharon also weighs on the fish returning to the Klamath. Bill, I agree about the fish returning being from before dams being breached. What I would be watching is if they're able to spawn and the health of the next generation of fish. I reserve my opinion of losing the dams and the fish for at least a couple of years in order to see the real truth. I really appreciate that, Sharon. Thanks for writing from Eagle Point. The email bill at Billmyershow.com.

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And if you need collision repair, Lithia Body and Paints here with fast, free estimates when you need us. Service, speed, accuracy. That's Lithia Body and Paint on Bullock Road in Medford. It's the Bill Meyer Show on KMED, Southern Oregon's place to talk. We have checking news here in just a moment. Then Todd Schutz joins me too, well, are we looking too closely at $4,000 plus gold as the canary in the gold mine? What is it portent? He's a financial brain.

We'll talk with him about that. Coming up here in just a few minutes. Hey, a couple more emails I forgot to get in there. Jeff wrote, Bill, do you have a marine biology degree? Well, you don't have to when it comes to that. that Klamath conversation. Yeah, a lot of people writing about that Klamath fish story. But it seems the United States Fish and Wildlife Service creating this little cheat sheet. It's well worth your read. It's interesting.

Or we can go to Noah's Sustainable Fisheries Info. Briefly, it says the average life cycle of a Pacific Chinook salmon is five years. Any spawning salmon has to be five years old. This means that the quote in that article about numbers beyond expectation, are the results of conditions in play on the Klamath five years ago. The damage done, as claimed by Wild Horse Bill and others, would seem to mean that the significant drop in the numbers will begin occurring next year, gradually getting worse until a peak in about four years

and then slowly returning to a normal. But you wait and see when the numbers drop dramatically four years from now, it will be because of climate change or the excessive use of agricultural products or perhaps Trump. They might do that. You might do that. You know, Jeff, I'm going to give you a real American salute on that one. Betty also weighing in on the 15-238.

Bill, I heard the whole ad for that. Now, Betty's in Grants Pass, but she thinks it's a crock. A person has to be brain dead to believe it all. So you take a list of all the hotels in the city of Medford, plus the county, and figure they're all rented each and every night for 100 years. I don't think I would ever pay for the millions needed to pay for this. complex. I don't think it's going to pay for the complex, Betty, and that's why I'm looking forward to the Friday talk to get into the weeds a little bit on that, get into the

details, all right? And Betty does pose a great question, and these are questions that we can ask then, who is getting the revenue from box offices, who's paying for the upkeep, yep, the responsibility, and who is paying for the entire process from start to finish, as the project is a maybe where is the upfront money coming from? Well, that's what they wanted to take this seed money from increasing the taxes from what I understand, Betty, okay? You know immediately, Bill, that they will nail every dollar of utilities that they can steal immediately without voter approval, and that will be upped very often.

The whole thing is crazy to start with. I just hope that people really look this crazy idea over and vote no. All right. We'll see what happens, but they're pushing hard. They think that there is a legitimate path forward for it. And I'll talk with him on Friday and we'll have a good conversation. Listen, I don't have a problem with, you know, revitalizing areas of downtown Mefford. I'm thinking that's a great idea.

My problem I have is the, I think it's a bad ballpark location. I made that clear. I think Fred Herman made it very clear, too, you know, former owner of the Southern Oregon Timber Jacks. But, you know, maybe there's a way that you do. the hotel side of it, with the conference center, and then you put the ball field or the ball stadium somewhere else. I don't know. But we shall see. We'll talk more about that on Friday, but the town hall tomorrow, 530 till 7. At Drake's Paint and Supply, we know your color because we know our community. For decades, we've partnered with Benjamin Moore to bring you the highest

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News brought to you by Millette Construction, specializing in foundation repair and replacement. Get on solid ground. Visit milletconstruction.com. From the KMED News Center, here is what's going on. Oregon's Department of Transportation is continuing its hiring blitz in an effort to staff up for winter maintenance. Applications for some positions closed this week.

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He's the author of the newsletter on Wealth and Progress, which is currently available free of charge on Substac. Highly recommended read. And I think this is something that you want to check out. It's available. It's also on YouTube and Spotify and all the rest. Isn't that right? Todd, welcome back to the show. Morning. Thanks, Bill. Yes. video version of the weekly substack piece is available on the YouTube Spotify and Apple Music.

Yeah, I love doing videos too, except that unfortunately it's my face on them, and I don't like that part about it, but well, we have to deal with these kind of things, right? The fact that it's... So that's the modern world we're in, right? Indeed. Hey, Todd, you also wrote a great book,

and we talked about that. I think it was a couple of years ago when you brought that out 2008, what really happened. and you were doing a really good explanation of really how things went to hell in a handbasket back in 2008. And essentially, would you agree that the Federal Reserve for the last 15, 16, 17 years has essentially been trying to re-inflate all the bubbles from that time? Are we looking at something else right now in your latest year? Gold 4,000, Canary in the gold mine, right? Yes, no, I agree completely with that, Bill. I mean, I think, unfortunately, you know, the thesis of the book, which, you know, has a lot of detailed analysis behind it, was that the housing bubble was created first by Fannie Mae and Freddie Mac when they pushed appreciation up to much higher levels by expanding their growth rate in 98.

And then the second phase, which I called the acceleration phase, was driven by the Federal Reserve when it pushed interest rates down to historic lows and created this dynamic where people could buy homes with an adjustable rate. mortgage that had an interest rate well below the level of housing appreciation. And they held those interest rates there for a long, long time, or relatively speaking, right? You know, that zero interest rate period for quite, how many years did they hold that now that I think about that? Yeah, they moved down, they push rates down after the tech stock bubble started to collapse in 2000 and held them there until 2006, when they finally started to bring them up to normalize them. and then that is what, you know, triggered first one year of decelerating housing prices where they

were going up but not as fast as they had before, and then the collapse in housing prices, which took us into the financial crisis. So, yes, it was a multi-year period of time where they held rates way too low. Well, this week, gold ended up blasting through 4,000, silver blasting through 50, and we're not even talking about tiptoeing, tiptoeing. And a lot of the same, seems to have been happening after, well, there was some problems with President Trump and China, then he kind of talks everybody down off the ledge. And then every time Jerome Powell talks about it, it sounds like he's trying to tell everybody, yep, we're going to be tightening up, we're going to have a strong dollar. And yet the markets are looking at this as if we don't

believe you. Is that a kind of short shortcut to what we're looking at right now with the prices of these precious metals, these indicators? Yes, I think it is. And, you know, this relationship, I won't go into the details because I'm sure we don't have time for it, but this relationship between gold and money goes back centuries. And the original gold standard that Great Britain created in the late 1700s leading into the 1800s, which lasted for over 100 years, was basically put in place to keep central banks from printing so much money that lenders lost confidence in their ability to make loans to governments that would be repaid with currency that had the same purchasing power

that, you know, the original loan was made at because governments kept printing so much money they would devalue their currencies and then lenders would get paid with money that, you know, they couldn't go out and buy as much with as, you know, they would have been... Yeah, you're getting paid back with money, which is worth less, and, you know, what's the point of that? You know, the idea is to make money, not have to have more dollars that are just worth less than, and you're thinking, hey, I'm richer.

I'm richer because they gave me more dollars, right? Even though they're worth less. Exactly. And then you're exactly right then, this most recent period, then we start in the 2010s. And instead of learning from the mistake that they made in the early 2000s with the housing bubble, after the great financial crisis, it basically is already over, and the economy's fully recovered. The Fed went into this ultra-low interest rate policy again throughout the 2010s or most of the 2010s to try and help jumpstart the economy, to help subsidize the huge budget deficits that the Obama administration was running in order to try and jump-start the economy, which didn't work. And as a result, what we started to see was gold prices started lifting up again.

You know, they had dropped down below 300 in 2000 when the budgets were balanced, but as we went into this significant deficit spending, so on and so forth, they pushed up into the $1,700 range in that kind of thing. And so then they kind of moderated for a few years, but then starting with the Biden deficits and inflation of the early 2000s and the Fed's easy money through that period of time. Are you mean in the early 2020s then? Excuse me, early 2020. Okay, good. Right. Good. Yeah, exactly. Yeah, starting with that period, we started to see gold prices escalating again, I think from around $1,500 an ounce where they had moderated to before COVID to, you know, up $2, $2,700 announced by the end of last year. And then with these series of events that you've alluded to, and I think, again, the key points here. People talk about the tariffs and other things, but I think the key points, given this, long history are really the monetary implications of the things that have been happening here. One, the big, beautiful bill, did not deal with the spending side of the deficit problem.

And everyone knows it. And everyone knows it in the money world, right? Everybody knows that. Absolutely. Okay. Yes. So first, I think that was the first really big factor. Then the second big factor was Jerome Powell, you know, succumbing to kind of Trump's pressure.

and agreeing to lower interest rates here, and I think the money markets are looking at this and saying, you know, we've been seeing this movie for centuries, and what we are anticipating is that these deficits are going to lead to higher levels of inflation than what the Fed has committed to and too much money coming into the system. And that's why we're pushing up the price of gold here. Yeah, it is, in other words, the indicator species, if you want to say, that there is a problem, but this is nothing really new, like you mentioned. This is almost like the textbook of endgame empire finance, and the United States, whether you like to say it or not,

has essentially been the empire over the last five, six decades. Fair enough. I mean, that's really where we are. This is nothing different from history, right? Yeah, yeah, no question about that. And I think I would say there's one thing that's different now, And hopefully this will work is that, you know, we still have the greatest economy in the world. We are still primarily a capitalist country.

And the administration, while I think they made a mistake in not going after the spending side of things on the big, beautiful bill. You know, they have implemented heavy sets of deregulation. I think they've taken a very good approach with respect to AI. And they've done a number of other things that I think do give us. the opportunity to start growing the economy significantly. And if we can do that, that, you know, hopefully will mitigate some of these, you know, inflationary issues and risks that are, you know, that are sitting out there because of these huge deficits and the Fed's likely response to them. Todd Sheets is the author of 2008, what really happened. And, of course, author of the newsletter.

I highly recommend this. It's on wealth and progress. You can get that free of charge on Substack. I will put the link to all this information. and the YouTube and the Spotify and all the rest of it. Now, you're saying that what we're seeing with gold and to a lesser extent, what is going on with silver? Why silver? Is this just an example in which, because gold has been popping, that silver can't be, there has been talk for years that silver has been repressed by major bank shorts

because the idea they wanted to keep that cheap and that is the conspiracy theory, I guess, Todd. What do you think about that overall? yeah so i haven't spent as much time looking at the silver market as i have the gold market and most of my focus on the gold market is not as an investor but as you know for the purposes we've just talked about but but what i'm guessing is happening basically uh follows you know what you've just suggested which is that gold's had a huge move and people are now speculating that silver as kind of the secondary precious metal as a way to hedge your your bets again

against this kind of inflationary financial model is a way to maybe shift some of that money into a sector that hasn't appreciated as much as gold has here recently. Because like I was mentioning to you offline, I have a baby 401K that I've been, that I play with. And probably the best performing sector that I have in my little 401K are baby miners, junior miners, gold miners, things like that, that have just exploded in value. And I'm not trying to sell any of this stuff. I'm not going to tell anybody anything about them. I'm just telling you my experience with this.

And it was just kind of like, holy, what's going on here? What has concerned me, though, for the sake of people who are not invested in these right now, though, is that when you see central banks buying gold hand over, you know, fist, and they were selling gold for the longest, longest time, isn't that indicative? of a lack of trust coming? Yeah, I think that that is one issue. I mean, I think that's another issue of, like, concern about the dollar. I mean, you know, if you're sitting there and you're looking at these dynamics like we've

talked about, which is just another replay of what's been going on for centuries, not just in the United States, but around the world, and only in the United States after we started the central bank and the Federal Reserve, but if you're looking at this and you're saying, well, there's going to be a lot of new dollars. printed, and the supply of gold is not going to grow as quick. And this is the traditional safe haven, which is very much psychologically linked to monetary policy. You know, then you're going to shift more of your money into gold. I think there's also an element that's coming from China, which is obviously trying to cause as much havoc with the Western countries

and in particular the United States as they can. And so I think, you know, that's been a big part of that as well. All right. Now, how do you think President Trump will get this needle threaded? Because, you know, Jerome Powell is obviously, he's talking tough, like, yeah, we're going to tighten, we're going to, we're going to keep interest rates, you know, relatively high, yada, yada, yada, oh, we got to worry about unemployment. Okay, now we're going to get doveish. It's like he's talking tough, but he seems to be behaving more like a dove, like we're going to lower interest rates there. And I can't help but think that this is about President Trump.

President Trump wants a less valuable dollar because he's looking at it from the, what, trade and re-industrializing the United States and making our exports easier to sell. Isn't that the case? So it's almost like, you know, a good time for American consumers and a good time for, I guess a good time for re-industrializing. they're almost mutually exclusive right now or at cross purposes, wouldn't you say? Is this a challenge that the president's going to have here? Yeah, I think it's a big one, and I think you're exactly on point with those motivations, and I think there's one other one, which is they want a low short-term interest rates because

it keeps the interest costs of the death that has grown so much down, and, you know, doesn't, if interest rates are high, you know, every 50 basis point, drop in short-term interest rates that the government can borrow at when you're dealing with, you know, what, 37 trillion dollars of debt or whatever it is has a huge impact on the deficits. But that can be a very short-term perspective. And I do think he's done a lot of things that are correct and has, you know, had good courage and the fortitude to stand up and do a lot of things that are really good. I think this is an area where he's potentially playing with fire. And if this inflation genie, as I've called it at times, gets back out of the bottle here

and inflation runs up, then interest rates will shoot up, and the interest rates that are needed to tame it will have to go even higher, and that's going to cause, you know, some rippling effects in stock prices, housing prices, and those things will affect consumption. So, you know, I think this is a very dangerous game for the president to be playing here. On the other hand, then, with the interest rates rocketing higher, wouldn't that essentially push maybe more speculation out of gold and then back into treasuries? Because money, what I understand, has been flowing out of our government treasuries and going into these speculative assets such as gold and others right now, if I understand. Yeah, I think that that definitely is happening, probably especially with the foreign banks and that kind of thing. But the one thing that we've seen, one of the things that's kind of interesting that's going on out there and you see some discussion of is there's a little bit of a difference between kind of the inflationary message that's coming from gold's run up to over $4,000 an ounce.

But on the bond side, when you look at interest rates on, say, 10-year treasury bonds and that kind of thing, they haven't changed that much. They've kind of held steady, and there's some people saying, well, maybe that means that gold speculators are wrong. My perspective on that is, you know, people hold bonds for a wide range of reasons. You know, the asset allocation models, say, you know, you should have 30 or 40 percent in bonds and the balance in stocks and that kind of thing. And so people, you know, largely, I don't mean foolishly, but just kind of they follow those models and they put money in bonds because of that. Or they're looking at the yield and they need some yield. So there's intrinsic value reasons to hold bonds, which means the ability to collect income over time. Gold is primarily speculative in nature, and the main reason to own it is to hedge against, you know, dangerous periods of time,

which historically have primarily represented, you know, excess money printing. It could also be wars in that kind of thing. And so I think gold is the better indicator here for us of kind of what the speculative markets who are really focused on the risk of money printing and inflation are focused on. All right. Very good. I appreciate your thought on this morning. Todd Sheets once again, and you can find out more on his on wealth and progress. It's currently available free. You can get that on substack.substack.com. And the article is gold 4,000 canary in the gold mine here. Now, is it one of those situations where right now the people who are, I guess, are called

gold bugs here. Do you think they're right or they're just right right now, you know, at this point in time? How do you see this over the, you know, the next year or two or three overall? Yeah, you know, that is the area where I really don't have much of an opinion on that because, you know, if we were talking about a particular stock or even interest rates on bonds, you know, we can say, well, I think given these inflationary expectations and this experience, you know, income yield from the bond or these cash flows that we can estimate from the company, we can take all of that and calculate, you know, what investors call an intrinsic value. And we could say, for example, well, our calculation of intrinsic value for the stock is

$100 a share. It's now trading for $150, so I think it's going to come down. But with gold, you can't really do that because it's primarily speculative in nature. So I think the best thing to do is to say, from my perspective is, okay, we can read what the markets are telling us, which is that they believe that inflation is likely to go higher. But when you step into the second part of the equation and you say, well, is this already reflected in current prices or not, that's where you're basically into operating on a hunch and that kind of thing. Then why are the central banks buying it then? I don't, it doesn't strike me that central banks are in the business of speculating, you know, in speculative assets, are they or are they not? Maybe I misunderstand what the Federal Reserve and other central banks do. No, you're right about that, but I think, I think

they are buying it as a hedge, and they are buying it as a hedge against, I think there's two factors. One, they're buying it as a hedge against increased money printing by the Federal Reserve. And then the second is I think there's a strategic element in there on the side of China and some of our, even the more hostile regimes that are out there. But I don't think, I don't think they have any better insight into this idea of, does the current price fully reflect the risks going forward or not than anybody else does? But there is a tendency, but I think those are the motivations. I don't think they have any intrinsic calculations that give them any better insight into this. And then we should just say,

you know, typically, and there's no way of telling where we are, but momentum in these kinds of markets does tend to build on itself for some period of time. All right. When prices are moving, stock market, whatever, you know, when prices are moving up, that tends to bring people in for some period of time until prices get too high. All right, very good. Hey, Todd, I appreciate the take on it. And thanks so much. We will have you back. An excellent substack that you have there with on wealth and progress and we'll have you back and you be well and we'll get all your information up you take care thank you thanks so much bill and may you do well good profits to you good profits to everybody it's a 758 this is kmede are you using extension cords outside you likely

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with a 30-day free trial at LifeLock.com, use the promo code back terms to apply. War does not care if you're a man or a woman. Neither does the enemy. This is not about preventing women from service. The Secretary of War addresses the brass. made it my mission to uproot the obvious distractions that made us less capable and less lethal. And he wasn't mincing words.

No more beardos. If you want a beard, you can join special forces. Does the secretary have it right? That was supposed to be an uplifting message for our military. Maybe this was like breathing life back into the military. Talk about it. That's what it takes to fall in line and show your discipline in your allegiance to this country. On News Talk 1063, KMED.

This is News Talk 1063, KMED. And you're waking up with the Bill Myers Show. Okay, I have to give another email today. It just popped in here. It made me laugh. Franklin Henry, and of course, Franklin, you know, great guy, great guy. And he writes me every now then. And he wrote and says,

Hi, Bill, I highly recommend for your second orange cat litter box by Whisker 4. And it's $649, $649, one of those automatic litter boxes. And then he sends me a little note there. Never scoop again. Litter Robot 4 solves the litter box problems with automatic self-cleaning technology that quietly provides a fresh bed of litter after every use and reduces odors in litter tracking. Join over 1 million litter robot customers.

Free shipping. Franklin, I love the idea. I really do. But you have to understand that I am the cat slave in the household. And, you know, that is my job. And apparently, according to Linda, I work much, much more cheaply, scooping out the litter box twice a day than the litter box at $649. I like the idea of this.

You know, maybe I could persuade them, hey, hey, you know something, Franklin, maybe what I could do is that I could write the litter box company and then I could do what every other BS influencer out there on the web right now does. They'll write a company and they'll say, I am an influencer with thousands or tens of thousands or millions of followers and this and then or the other. Send me a free litter box and then I will test it and say nice things about it. Could I do something like that? I'm just kidding. I wouldn't do that.

But, you know, maybe that's the way to get past it. $649 for a litter box? Wow. And then I would imagine there are probably special bags that you have to also purchase, right? And little canisters. and, you know, it's much like a printer. You get the printer for $129, and then the cartridges are $200 and the drums. Anyway, we'll see.

KMED, KMED, H.D, H.D. H.D. H.E.E.H.E.H.G. Grants is where we are. Captain Bill joins me here. We're going to go from one critter, cats, to other critters, wild horses. Kind of catch up on people who are actually doing the wild horse program. Not necessarily government. Government's kind of dragging its feet on this one. But we'll kick that around coming up. One of each K4 VIN 202.