National Debt Hits $37T; Gold & Mining Stocks Poised to Surge -

Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason.
Coming up don’t miss our interview with Jeff Clark – founder of TheGoldAdvisor.com newsletter and a globally recognized authority on precious metals. Jeff and Mike Maharrey try to make sense of why gold has been so resilient and why we haven’t seen much in the way of corrections in recent months following its meteoric rise over the last year and a half.
Jeff also talks about the underperformance of gold mining stocks compared to the bullion price itself, highlighting a focus many investors have on the metal compared to the mining equities during times of uncertainty.
And Jeff shares some interesting comments about how his father’s gold prospecting adventures helped to steer him towards a career in the precious metals sector. So, be sure to stick around for a wonderful conversation with one of the most highly respected gold analysts you’ll find anywhere, Jeff Clark, coming up after this week’s market update.
Well, this week the U.S. national debt officially topped $37 trillion for the first time ever.
You may recall the federal government ran up against the debt ceiling on January 1. As a result, the federal government couldn’t borrow any money until the enactment of the “Big Beautiful Bill,” which raised the debt ceiling by $5 trillion as of July 1.
At that time, the national debt stood at $36.2 trillion. It took less than two months for the federal government to borrow more than $800 billion, pushing the debt over $37 trillion.
The growth of the national debt is increasing at an exponential rate. In 2020, the Congressional Budget Office projected that the debt wouldn’t hit $37 trillion until 2030.
Oops!
Going back a little further, when Congress effectively eliminated the debt ceiling on June 5, 2023, the national debt stood at $31.5 trillion. Since then, the Biden administration added $4.5 trillion to the national debt. That was over just 18 months, for those of you keeping track at home.
This isn't shocking when you realize Uncle Sam is blowing through about half a trillion dollars every single month.
And federal spending isn’t going to slow down anytime soon.
To be fair, this isn’t just a Biden or Trump problem. Every president since Calvin Coolidge has left the U.S. with a bigger national debt than when he took office.
It’s hard to fathom $37 trillion. What does that even mean?
Well, here’s some perspective.
Every U.S. citizen would have to write a $108,509 check to pay off the debt.
Of course, a lot of people don't pay taxes. That means the taxpayer burden is much higher. Every U.S. taxpayer would have to write a check for $323,053 to wipe out the debt. Oh, and by the way, that's on top of the taxes we already pay!
Looking at it another way, $37 trillion is more than the annual GDP of China, Germany, India, Japan, and the UK combined.
It's hard to wrap your head around how big 1 trillion is, much less 37 trillion. But here are a couple factoids to help you visualize just how big that number is:
<ul>
<li>There are 1 million seconds in 11.5 days. A trillion seconds is about 32,000 years.</li>
<li>If you could say one number every second, it would take about 11.5 million days to count to 1 trillion.</li>
<li>If you had spent $1 million every day since the birth of Christ, you still wouldn't have spent $1 trillion by now.</li>
<li>If you line up dollar bills end-to-end, you could go to the moon and back around 203 times with $1 trillion. You could wrap them around the Earth about 3,893 times.</li>
</ul>
Keep in mind that all these examples illustrate the size of $1 trillion. The national debt is 37 times that number.
We consistently report on budget deficits and the growth of the national debt, but the truth is, most people don’t really care… or think it even matters.
But why does it matter?
In the first place, large government debts put a drag on economic growth. <a href="https://www.usdebtclock.org/?tblci=GiBdY-MYH1-nD-WW6UXCXAtHBPIEdPpDc50r48qPeOICrCDKuWUow8jry8SFw-EvMLzYPQ" target="_blank" rel="noopener">According to the national debt clock</a>, the current debt level represents 123.3 percent of the GDP. Studies have shown that a debt-to-GDP ratio of over 90 percent holds back the progress of economic growth by about 30 percent.
Even more concerning is the fact that at some point, the world will decide it’s no longer interested in financing the U.S. government’s borrowing and spending. The debt is a big driver for the inflation problem we are having… and it's leading to sagging demand for U.S. treasuries and higher interest rates.
To cover the federal government's funding shortfall, the Fed often steps in to create money out of thin air. The new money gets injected into the monetary system and the economy. This is, by definition, inflation.
People seem unconcerned about the growing debt because people have warned about it for decades, and the promised crisis hasn’t occurred – yet.
But the bottom line is that just because the debt hasn't caused a crisis doesn't mean it won't. After all, things happen slowly and then all at once.
Well before we get to this week’s interview let’s take a look at the market action in the metals here. Gold is off 1.6% to trade at $3,355 an ounce. Silver is down 1.0% to check in at $38.17. Platinum is up 0.5% to come in at $1,355. And finally palladium is down 0.5% to trade at $1,146 as of this Friday morning recording.
Well now, without further delay, let’s get right to our exclusive interview.
<div class="pl-3"><img class="mx-auto md:float-right p-3" src="https://www.moneymetals.com/uploads/content/mike-maharrey-and-dr-vieira-podcast-img.jpg" alt="Mike Maharrey and Jeff Clark" width="450" height="180" loading="lazy" />
Mike Maharrey: Greetings. I'm Mike Maharrey, a reporter and analyst here at Money Metals, and I'm excited to be joined today by Jeff Clark. Jeff is the founder and editor of the GoldAdvisor.com. He also does the Pay Dirt prospector, which is part of that, and he's a well-respected gold and silver analyst. You'll find him all over the place out there, and we're excited to have you here with us today, Jeff, how are you
Jeff Clark: Doing? Very good. I guess you get 20 bucks for that nice intro. But yeah, I'm excited about where we are in the gold market, that's for sure.
Mike Maharrey: I'll accept that payment in silver. We'll set that up off air. Before we dig into the gold market and stuff, I'd really love for you to share with the audience kind of how you got into the precious metal space. I've seen the story on your bio. I thought it was kind of interesting. I think people would be interested in hearing that.
Jeff Clark: Yeah, my dad was actually a gold prospector. He didn't work for a company. He worked on his own, had a bunch of guys he worked with. He made some good fines. We had mining claims at one point in California, Nevada, Arizona. We actually found a seam of gold about 16 grams per ton, and those who follow mining stocks, no, that's a pretty good seam and here's a good lesson. We realized that when you add it in the expense of mechanized mining, that it actually wasn't feasible. It wasn't big enough to really make it viable as an operation. So there you go. You always got to look for big and rich, right when you're looking at mining stocks, but he's no longer with us. He's in mining heaven now, but I worked for Doug Casey, I've worked for multiple bullion dealers, multiple other newsletters, and then started the Gold Advisor right in the middle of COVID, but it's gone really well. I also wrote a book during COVID, and now we're seeing the market really start to gel and take off
Mike Maharrey: For sure. What's the title of the book?
Jeff Clark: Pay Dirt: How to Strike Pay Dirt With Mining Stocks.
Mike Maharrey: Yeah, that's probably maybe a little bit easier than trying to dig gold out of the ground.
You make a really good point. I don't think people realize how expensive it is. It's like, oh, we're going to find gold, we're going to be rich. I’m absolutely no expert in mining, but I have watched Gold Rush on TV.
Jeff Clark: Oh, there you go.
Mike Maharrey: That gives you a pretty good sense, at least of how expensive and difficult it is to actually get it out of ground.
Well, I do want to talk a little bit about mining stocks, but before we get into that, I want to look a little bit more broadly and generally at the gold market. We hit all time high in April, and then we kind of had some consolidation, and we've been basically, I think trading sideways for the last couple of months. We had a big up when people thought Trump was going to tariff gold bars and then sold back off when they decided, no, that's not what's happening. So we have a lot of that kind of volatility. But in general, we've kind of settled out a little bit. How do you see the gold market kind of in the short and midterm right now? Are we done? Is the rally over or is just kind of catch your breath period and we're setting up for another leg up? How do you see the gold market?
Jeff Clark: Well, there's always ebb and flow. There's always corrections, right? Any asset, not just gold. What's interesting is that the corrections in gold, since the high you mentioned, we haven't even had a 6% correction, and that's not normal. The normal correction, at least from the bull market in 2001 to 2011, the average correction was I believe was 10.1%, and that's taken out the 2008 crash. So the correction in gold has actually been more in time than it has been in price. So, I thought gold, oh, it's probably going to fall to $3000. Well, that hasn't happened, but the correction is this sideways movement that you're referring to that is really what is the correction right now, which we've seen in assets before, including gold. So, I think we're kind of coiling or gearing up for another big run. And keep in mind that gold's best month of the year on average is September.
So here we are in August. I don't know that it's going to break out again in September, but I'm preparing for that because in the medium term, we're going to see another leg higher and maybe even something even bigger than what we've seen already, and that's because the Gold Bull market is only a year and a half old right now as you and I talk, and the miners did not break out when gold did last year. Miners didn't break out until later in the year. Most of the ones that are doing really well broke out this year. That's a very young for a bull market, and that hint from the gold stocks tells us that we've got a long way to go and there will be another leg higher coming.
Mike Maharrey: That's interesting. Gold stocks and kind of their laggard performance in the early part of the bull market was actually something I'm going to ask you about since you brought it up. We'll go ahead and touch on that now since it's fresh on our mind. So, why was that? Because I saw a lot of consternation out there among investors. They're like, okay, we've got these record, high record, high record, high record high, and then gold stocks languishing. What was the dynamic? Was that normal? I mean, do we normally see that kind of lag in the early part of a bull market and what's kind of woken up and kind of gotten things moving of late?
Jeff Clark: Well, when gold initially broke out, it was based on what the Fed was doing. It was based on war, then it was based on Trump, then it was based on tariffs. When you have all that kind of uncertainty and confusion and angst going on, well, you're not going to go looking for junior mining stocks, right? You're going to go to gold and then maybe silver, but you're not going to look at stocks all that much. What really woke up the mining stocks later, which is normal by the way you asked, but what woke them up later is when things calmed down and the industry started to move back into the miners and not just gold itself. I will point out though, Mike, that the miners have moved, but it's all of us buying. It's all the people in the industry buying, including institutions, fund managers and all that, them buying.
The amount of financing has really jumped. What has not happened is seeing Main Street and Wall Street jump into the mining stocks that is evidenced by the fact that the ratios for mining stocks to the S&P is still very, very low, meaning mining stocks haven't moved relative to these other market indices, and as long as that market, here's the cue about when this is going to happen, as long as the common stock market continues to go up and make new highs every other day, it seems like, right? As long as that continues to happen, well, why should they come over and buy this junior mining stock that Jeff Clark likes? Well, they're not going to, they like to play in that bigger market. So, when you see that market go weak, I think that's when some of those investors come over to our little tiny sector because there's a lot of green on the screen right now. Producers are printing cash more than the margins are more than anybody go find in the S&P. So, when that market goes weak, then I think we see our market really start to take off.
Mike Maharrey: I like to tell people that gold miners, silver miners too, although there aren't as many pure silver miners, but I mean, they're literally digging money out of the ground. I think people forget that because
Jeff Clark: Right now, they are. Yeah,
Mike Maharrey: We don't look at gold that way as much I think in the United States as maybe they do in some other places, but gold is money. I mean, you're literally producing money, and I think people forget that because we're so enamored with the fiat currency. I think your point about the miners, I think it goes to even a broader point about the gold market in general. If you look at physical gold demand here in the United States, it's been pretty weak. People aren't buying gold bars and silver right now. Investors aren't. Primarily it's being driven by eastern investors, it's being driven by Asia Central Bank Gold buying us. Investors have not really kind of jumped on that bandwagon either, which probably for a lot of the same reasons, but I kind of wanted to jump off of that point and dovetail into kind of a more of a broader philosophical discussion, if you will, because I feel like that here in the United States in particular, there's kind of this negativity about gold. You've heard the term gold bug. You've probably been called a gold bug. It's not meant to be a compliment. And you'll hear talking heads on mainstream financial networks kind of shrugging their head at gold or rolling their eyes, or you'll even sometimes hear 'em say ridiculous things like gold is a useless relic or a worthless rock, which that's, yeah, those
Jeff Clark: People have all been proven wrong. They're eating their words big time.
Mike Maharrey: But I mean, the fact of the matter is, I think there still is, and compared with what you would see in the East, this kind of, I don't know, just we don't have the love for gold that some other parts of the world do. And my question to you is, and I'm asking you to speculate obviously, but why do you think that is? Why are Americans sour on gold?
Jeff Clark: I think part of it is tradition. China, the Chinese government, at one point, Mike was actually encouraging its citizens to buy gold. Now, I don't necessarily trust the Chinese government and what their motive might've been, but imagine hearing that from our Congress people or the president, you should go out and buy some gold. Well, you don't hear that in the us. So, a little bit of it is a different culture. The US investors were buying gold and silver before, but that has really softened a lot and a lot of the rise in the gold price, which is based on demand came from outside of our little industry and US investors that like gold and silver. So, that was interesting to see the mainstream come in and actually drive up the price of gold due to all the uncertainties we talked about. So, I think part of it's a different culture.
Part of it is a different shift in who's buying it right now. But Mike, if we go into some kind of mania, especially for silver, oh my gosh, imagine silver breaking through 50. I think the odds are very good that that happens. Oh my gosh. Imagine it'll just scream at that point. There's no lid on it at that point, so it easily is going to jump another 50%, a hundred percent, whatever the case might be. But the guy's going around saying triple digits over at some point may be proven, right? They haven't been so far. But my point is when that happens, we're going to see a surge in demand, including from the west in buyers of both physical and futures and ETF products, mining stocks, et cetera.
Mike Maharrey: Yeah, I agree with you. I think that time is coming. I think there's a lot of complacency in the market with a lot of the things that you see going on that in my mind really kind of get downplayed. When you look at a $37 trillion national debt, you look at a Federal Reserve that's talking about cutting interest rates when I would argue we still have quite a bit of inflation baked into the, there's a lot of things that are supporting this gold and silver market right now. Do you think that, and I'm going to be a little bit conspiratorial right now, but do you think a little bit of the negativity toward gold is kind of baked into the government's love and need for its own fiat currency? We don't really want people to know about gold because we want to emphasize these dollars because that's real money. You think there's a little bit of that going on too?
Jeff Clark: Yeah, I mean, the last thing, the Federal Reserve and the central bank and all the politicians won is a runaway gold price. You remember the US is the reserve currency of the world, and it's the most powerful currency of the world. Even though it's been weak recently, it's still the reserve currency of the world. It's still used more often than any other currency. So the last thing they want is going to, despite what Trump says sometimes about wanting a week or taller, but the last thing they want is a runaway gold price because that threatens their sovereignty. And so I think that's part of it. China is not the sovereign currency of the world, so they don't have that motivation that maybe our politicians and bankers.
Mike Maharrey: Do you think that, can you imagine a world where the US is no longer the dominant reserve currency?
Jeff Clark: I do think that happens. We have a dishonest financial monetary system right now. It's completely dishonest. The debts just completely ridiculous. We've been saying that a while, but it doesn't make it any less true, right? Deficit spending is completely out of control. The only way to reign those guys in is through some type of gold standard. I don't know if we'll see that or not. I'm not necessarily predicting it, but that would reign in all this out of control spending. These politicians do, they all do it both parties. So the only way this really gets more stable and sound and honest is through introducing gold and maybe gold and silver, some type of standard by which they can't continue their runaway spending until that happens. By the way, Mike, I'm forced to own gold. I'm forced to be this gold bug that they give us this negative connotation of they're forcing me to be a gold bug because we don't have a sound monetary system, inflation, money, printing deficit spending, all this stuff until that's reigned in and we have a more stable system, I have to be a gold bug.
Mike Maharrey: Yeah, I agree with you, and I think a lot of people in the rest of the world are starting to think that too. And I try to avoid hyperbole, so I don't run around saying, ‘Oh, we're going to have a currency collapse and we are going to wake up tomorrow and the dollar is going to be no longer the reserve.’ But I do see a world in which we have a much more multipolar system, and gold is obviously a part of that. You see that in the central bank gold buying and in the way other countries are gathering up gold and quite frankly shedding dollars. I mean, we've kind of seen that with the treasury market. We've seen dollar weakness stuff. There's a lot of that going on. Let's pivot back to gold miners, and I mentioned off the air that I'm not, this isn't really my wheelhouse. I deal more in the physical gold and minor nerdiness is in the kind of the economics and the monetary policy stuff. What in your view, makes for a good gold mining stock? What's a good gold mining company look like?
Jeff Clark: Well, I wrote a book to answer that question.
Mike Maharrey: Well see, I just set you up to pump your book, so go for it!
Jeff Clark: Yeah, no, I don't want to be overly promotional or any of that.
Mike Maharrey: Well, you're welcome too. I mean, you wrote the book, so let's get people to read it.
Jeff Clark: Well, and it's not expensive, but I had a couple people that were saying, Jeff, you need to write a book. Why'd you pick this stock? And not that one was getting all these questions and then COVID hit. So I kind of lost my excuse that I was too busy. So I turned on the nightlight and started the work. Took about two and a half years, to be honest, multiple drafts hired an editor, lots of review. But what I really tried to do that is different I think, than a lot of books that are more dry on a subject like this is a make it a little more entertaining. You could read a free sample chapter on the website, the scariest Mine I've ever been in, and if you're a claustrophobic, you have been forewarned. And then we also added what a lot of other writers don't do is I interviewed 17 other people in the industry and put their little quips and stories and paid hits they've had in the book, and it's just sprinkled all throughout the book, there's hundreds of quotes from these guys all the way from the Rick rules of the world, all the way down to geologists.
You've never heard of giving you very specific advice. They were very, very specific on what they look for and what makes them eliminate a stock. So, it's a very practical guide, but they're all in there too, in addition to the method that I outlined there. That's been successful for me. So anyway, the book answers that question, but if you want to look at mining stocks, you want to make sure you start with the three legs of the stool, the people, the project and the politics involved. You want to make sure all three of those are strong and in place before you go any further. And if you do that, I think you'll have a lot more winners than you will losers.
Mike Maharrey: Yeah. What's kind of the difference for people who may not know? I mean, if you're somebody that's not real investing savvy, what's the difference between investing in say just physical bullion, you buy some gold bars and exposing yourself to a mining stock. What are the pros and cons of those two things? They are definitely different, although they're obviously heavily related.
Jeff Clark: Yeah, they are very different investments. Gold is money, as you've been saying, Mike, and I've been saying for years, it's a form of money. So it's insurance, it's a hedge. It's something you buy ideally physical, more than a paper product, and you hold onto it until there's an emergency either for in the economy or an emergency for you personally that you need to cash in some. I think the more you look at gold's money and less as a commodity, the more you'll realize that you need to make sure you own a sufficient amount of a meaningful amount that's going to make a difference to your portfolio. If some of the things that we predict actually come to pass some type of financial or crisis or whatever, but when you go to a mining stock, you don't own any gold, even if they are producing gold, well, you don't own any of it. You don't have any claim on it. What you're investing in is that company. And so, that's where you really have to dig into it. You're taking a little bit more risk. It is a speculation to invest in a mining stock. Of course, in my opinion, all investing is a speculation today's world,
But you're investing in that company and the success that we believe they're going to have. So two very different investments. I do both. I want to have both. And even though the book paid is about mining sucks, the whole first section of it is about making sure you own enough gold in your portfolio to hedge yourself.
Mike Maharrey: Yeah, virtually everybody I've ever talked to that is really deeply involved in the mining side says that exact same thing. And so you just kind of affirm the things that other people have said. But there are a lot of advantages to mining stocks because of the product that they're, I say product, I mean, again, they're digging money out of the ground and it kind of gives you a way to, what's the word I'm looking for? You're able to multiply the dynamics there of the price of gold. When you have a successful mining company,
Jeff Clark: You can exponentially grow your portfolio. You have to pick the right stocks of course, but gold is money, so it's going to fluctuate more like a currency would in terms of its volatility. Whereas a mining stock can have the leverage of 2, 3, 4 times the move in gold. And of course the juniors, if they make a discovery, build a mine, things like that, you can get even bigger gains than that.
Mike Maharrey: Yeah, leverage was the word I was looking for.
Jeff Clark: Yeah.
Mike Maharrey: You mentioned something to me specifically when we were emailing back and forth about one of the dynamics that's going on in the mining sector right now, and that's mergers and acquisitions. And you said there's a couple of reasons for this. So first off, I'd like for you to explain what's the significance of it. Why do I care as an investor? And then secondly, you mentioned that there's a couple of reasons and maybe you could let people know what those are.
Jeff Clark: Mergers and acquisitions are on the rise in our little sector, meaning M&A, companies acquiring others, merging with others. That is all on the rise, and that's a positive sign for a bull market too, by the way. So it's on the uptick, but it's going to pick up even more. A year ago, Mike, a lot of us in the mining sector were like, why in the heck are these producers not buying these stupid cheap juniors? They could buy 10 of 'em for what? They could have bought one for five years earlier. They just weren't moving, and yet the producers didn't do it. M&A was very low. Well, since then, what has happened is a higher gold price, a substantially higher gold price. And now the producers are literally printing money, as you said, and so they have a much higher cashflow right now.
So, with a greater cashflow and a higher gold price, a sustainably higher gold price, the producers and the seniors feel more comfortable spending some of their cash buying smaller companies. But there's a second reason, and that is back in 2011, 2012, right in the peak of the market, there was a big criticism of the producers, especially the seniors, and how much debt they were carrying. It was way out of control and gold corrected. It actually crashed in 2013, and that really hurt those companies a lot because the gold price, what they're selling is priced a lot lower. They're getting less profiting. They still had this high amount of debt. Well, fast forward 10, 15 years later, they've cleaned up their debt. And this year the projection that I saw was that the net debt of the producers, all the gold producers, net debt, meaning debt, a bit minus debt, earnings minus debt, is projected to be zero.
Their net debt as a group, as an industry. So you have a lot more cashflow and a sustainably higher gold price and your debt is way down. You have the perfect ingredients for m and a to not only continue to pick up, I think it picks up because we all know that the producers, especially the seniors, they need more ounces. You mine a million ounces a year, you need to replace a million ounces just to keep breaking even. So, they need more ounces. We know that, and that's going to target the developers and the juniors that make a discovery and things like that. So that process is going to continue, and in my opinion, it's probably going to pick up.
Mike Maharrey: So, you're describing, just to kind of boil it down, a sector that is very healthy right now.
Jeff Clark: That's a good way to put it. Yes, it is very healthy right now. They are printing cash, the juniors. The other thing is the amount of dollars that are going into financings. Mike has really spiked. I mean, a company that was struggling to raise a million dollars a year ago now is raising five, and then they announce a week later it's oversubscribed at seven, eight or $10 million. So, hedge funds, high net worth individuals, family offices, institutions, they are pouring money into financings of these tiny little companies right now. That's a very strong sign of what's to come and what they think is coming. And yes, it's a clear sign of a healthy market for us.
Mike Maharrey: It is very interesting. Okay. I've got one more question I'm going to give you to get you out on. This is kind of a fun one. I'm going to ask you to speculate a little bit or at least offer your opinion. What is something that you think is extremely significant that's going on in the gold and or the silver markets that is being radically missed by the mainstream or downplayed by the mainstream?
Jeff Clark: That's easy. They're missing the play on the mining stocks right now. The gold stocks, gold's making headlines, it's run up. Some of Main Street and Wall Street have bought gold, but what they have not done is buy the miners, yet they have not moved into the miners. And I was pointing out earlier that ratio of gold stocks to the s and p and Nasdaq, all of that is very, very low, meaning the money is still over into the more common stocks. So, there's not money in the mining stocks. That means there's still an opportunity. And I say that despite many stocks doubling and tripling year to date, we have many stocks that have done that. Some are up even more than that, and yet we don't have the mainstream and Wall Street really coming into them. Some of them have moved into the gold, but they have not moved into the mining stocks in any meaningful way. That's still ahead. And that's why I say what is still ahead is we've seen the easy gains, but the big gains are still ahead.
Mike Maharrey: Yeah, it's a really exciting time to be part of this sector. It seems like every day I see something else that's just supporting gold and silver, and most of it's dumbness that's going on in other places. So I guess there's never any shortage of that.
Jeff Clark: Yeah, I've been personally investing pretty heavily right now. Pretty aggressively, probably more aggressively than I ever have in my career as an investor. So at least my money is where my mouth is. I can say that.
Mike Maharrey: Yeah, yeah, for sure. Well, before we go, allow people to know where they can find your stuff, give your website your Twitter. It's not Twitter, it's always going to be Twitter in my head. Your X account. Where can people find Jeff Clark and avail themselves to the information that you have made available?
Jeff Clark: Well, everything's under the GoldAdvisor.com. Everything falls under that banner. You'll see free letters, both gold and silver. You'll see paid letters both gold and silver. Both Peter and I wrote books there on the website. Peter Krauth came over, he publishes, he's our silver guru. We're talking about M&A in the junior sector. Well, we had a little M&A in the newsletter sector last year when I bought Gwen Preston's business. Peter came over at that time. I've since had to hire help for the Gold Advisor. He's had to hire help already for Silver advisors. So we're growing very quickly of a big staff. We've got a great new robust website. We're rocking and rolling and everything we recommend, whether it's in the free or paid letter, our stocks we personally own. If we wouldn't own it, they don't get invited to this site or they don't get recommended in a newsletter. So everything is there. And on X @TheGoldAdvisor.
Mike Maharrey: Yeah. Fantastic website by the way. I was kind of perusing it. It's really clean, it's easy to find stuff. It's very nicely done. So people should go check that out. And I actually just had Peter on last week, so you guys are doing the back to back tandem. Peter's great. He's one of my favorites. I told him last week that he kind of gives the stereotype that Canadians are nice people. He really kind of bolsters that because such a nice guy.
Jeff Clark: Yes, he's very, very nice. He's easy to work with and he communicates very well. And if you need to write to us on the website, we will respond to you personally.
Mike Maharrey: Yeah, both of you guys are great, and I really appreciate you taking the time. I know that you had some health issues and we had to kind of put this off, so I'm glad you're feeling better, and I'm really glad that we were able to get you on. And of course, now that we've broken the seal there, we'd love to have you again. I'm sure in the near future as things play out, I always love to get updates as things.
Jeff Clark: Absolutely. I think 1, 2, 3 quarters from now, Mike, we're going to be even happier than we are now. So, I think there's good times ahead.
Mike Maharrey: That's fantastic. Well, thank you again. I hope you have a fantastic rest of your day, and we'll get back to you again in the not too distant feature.
Jeff Clark: Great. Thanks for having me, Mike, and really enjoyed it. Let's do it again.
Mike Maharrey: Absolutely.
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Very good stuff once again from Jeff Clark and I hope you enjoyed that.
Well, that will do it for this week. Be sure to check back next Friday for our next Weekly Market Wrap Podcast. And don’t miss our second weekly podcast, the Money Metals Midweek Memo, hosted by Mike Maharrey and available each Wednesday. To check out any of our audio programs just go to <a href="https://www.moneymetals.com/podcasts">MoneyMetals.com/podcasts</a> or find them on your favorite podcast platform of choice.
And as a big help to us we would ask you to please like, subscribe, download and rate our podcasts wherever you listen to those. Doing so helps us extend the reach of this material.
Until next time, this has been Mike Gleason with <a href="https://www.moneymetals.com/">Money Metals Exchange</a>, thanks for listening and have a wonderful weekend everybody.

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