Gold & Silver About To Rally Higher Again? | Andy Schectman

**Adam Taggart** (0:00)
And we should be live. Welcome to Thoughtful Money. I'm Thoughtful Money Founder and your host, Adam Taggart. Welcome you here for a Rare Sunday live stream with the Metals Man himself, Andy Schectman. Andy, how are you doing, buddy?

**Andy Schectman** (0:14)
I'm good, my man. How are you?

**Adam Taggart** (0:16)
I'm good. Thank you so much for doing this on a weekend live. I'm going to try to be really respectful and just try to contain this to an hour so you can get back to your family. Folks, we're doing a live stream today because I'm going to try to do something I haven't done in years, which is try to take the majority of a week away from the computer.

**Andy Schectman** (0:36)
Good luck.

**Adam Taggart** (0:37)
Good luck. I was actually just in Florida near Andy and flew back to Nevada. There's just a ton of snow here, so my brothers are flying in from other parts of the country. We're going to have a little bit of a ski week. Since I didn't have time to record and edit with Andy next week, he was kind enough to agree to do a live stream here. I also have a quick apology for some of you. I scheduled this when I was on the road, and when I do that, invariably things get confused with YouTube and with time zones. This live stream was set to launch like three hours ago by accident. I remember you jumped on there and we're wondering where we were. Well, I had to fix the time zone thing.

**Andy Schectman** (1:21)
It's good. People got to watch the USA Hockey Team win to send it in overtime. So congrats to the USA Hockey Team, but it was good. It worked out well for everybody.

**Adam Taggart** (1:29)
I hope. That's awesome. And so I'm embarrassed to say I did not watch it. Who were we playing? I should know this.

**Andy Schectman** (1:35)
Canada.

**Adam Taggart** (1:36)
So we just beat Canada. Was this for the for the gold?

**Andy Schectman** (1:39)
For the gold. And Canada was favored by one and a half goals. I mean, their team is unbelievable. And I mean, you watch the game. It looked like Division 1 college kids playing against hockey kids. The USA, but somehow the USA won in overtime. So it was cool. It was fun to watch while I was getting ready for this.

**Adam Taggart** (1:57)
So America gets to believe in miracles twice, sounds like.

**Andy Schectman** (2:00)
Yeah, you know, his father, Kenny Albert, Marv Albert's son, rather, is the commentator, the same one who said, You believe in miracles? Yes, it was great. It was cool. They sound so much alike. It's insane.

**Adam Taggart** (2:13)
That's amazing. Well, congrats to Team USA. And I know that the Women's Hockey Team won in over, I think it was in overtime, or at least one of the late minute amazing goal that I've seen clips on over the past couple of days. Was that for the gold as well? Again, I'm embarrassed.

**Andy Schectman** (2:29)
I believe it was. I think it was. I'm not positive. I'm pretty sure because I think today must have been because today is the closing ceremonies.

**Adam Taggart** (2:39)
Wow. All right. Well, look, Go Team America, Canada. You put in a great run. Sorry about that. You guys beat us in curling.

**Andy Schectman** (2:45)
So that's one sport I've seen enough of for the next four years. That's for sure.

**Adam Taggart** (2:51)
It's amazing. I because I was traveling, I didn't have a lot of chance to watch the Olympics, but it seemed like anytime I was somewhere with a TV on that had the Olympics on, it was curling. It was like 80 percent curliness. This Olympics. I don't know why.

**Andy Schectman** (3:03)
That's good to watch for you go to sleep. It puts you to sleep.

**Adam Taggart** (3:06)
Exactly.

**Andy Schectman** (3:07)
All right.

**Adam Taggart** (3:07)
Well, folks, we'll move on to other topics. Still metals related, though. Still gold and silver related. And I got to just call out your sweatshirt there. Andy, I'm not sure if folks can read it. So yeah, it's triple digit silver.

**Andy Schectman** (3:20)
Yeah, I owe the original design to Keith Neumeier. Keith sent me, and Keith is one who called it years ago. He sent me a shirt three, four years ago over the holidays. And I liked it so much, I had to make some of my own. But Keith is the one who called out triple digit silver. I give him credit. And I sent him an email when it hit $100 and said, you know, those shirts are now collector's items and way to go for having the nerve and the courage to say it. And we'll be back there again. Don't worry, you can see that by what's going on. I also real quick, I wanted to say one thing, if you don't mind. When I was on your show the last time, we had talked about something or you and I talked offline. And I've done a lot of research on it. And I want to comment about one thing, and that's the premium in Shanghai. With the $10 premium above the Western price, people commented and said, but what about the VAT tax that offsets it? It's not true. So the VAT tax that is added in China is the responsibility of the recipient of the metal after said recipient takes the metal off of the Shanghai exchange. So think about that for one moment. That $10 premium right now or thereabouts that they're paying over the Western prices arbitrage of the sucking all the silver over or a sophisticated trader sends $20 million at a $10 premium makes 200 million and buys yachts and Tahiti.