Has The Silver Boom Peaked Out? | Andy Schectman

**Adam Taggart** (0:00)
All right, and we should be live. Welcome to Thoughtful Money, folks. I'm Thoughtful Money founder and your host, Adam Taggart. Welcome you here for a special Sunday live cast with Thoughtful Money's endorsed Precious Metals provider, Andy Schectman, the CEO of Miles Franklin. Andy, how are you, my friend?

**Andy Schectman** (0:19)
Adam, happy new year, brother. Good to be here. Sorry I'm not in the studio today. I've got a household, I've got two of my three kids here, and each one of them has two or three friends here. So I still have a house full of kids, and one more day left before everyone heads out. So I figured I'd do it from home here today.

**Adam Taggart** (0:39)
No, that's quite all right. And that's the best part of life, is when you still have a lot of life in the household like that. So enjoy it. And yeah, it is.

**Andy Schectman** (0:47)
You know, you miss them like heck when they're not here. Then when they're here, you love them. But it's like, is it time to get out of here yet? No, not there yet.

**Adam Taggart** (0:56)
Almost. This new neighborhood I live in has older folks in it. And so a lot of their adult children visited for the holidays. And that seems to be the whole story on the block. Great to have them here. But man, couldn't wait for them to leave.

**Andy Schectman** (1:11)
You know.

**Adam Taggart** (1:12)
Yeah.

**Andy Schectman** (1:13)
Well, anyways, no, it's a blessing.

**Adam Taggart** (1:15)
But thank you for making time for our audience in the midst of all that. Everybody else watching, happy New Year to you all. I see folks watching already from around the world. Norway, a few other countries here. A couple of things just before we get started and get to the central question of today's discussion with Andy, which is going to be after hitting something like $83 an ounce a week ago in the futures market, silver corrected by about 15%.
It's last count, it's risen a bit above that. But the big question on everyone's mind right now in the silver space is, did silver just peak? And so Andy and I are going to talk about that in just a second. Real quick, a couple of things. One, I'm noticing my face here on the camera, and folks, you might see some darker spots on my face. Reason for that is I had my first dermatological, like full skin scan in years. And actually, it went quite well, but they did find a couple of spots on my face that wanted to blast with the cold freeze to clear up. So anyways, I didn't get in the fight.

**Andy Schectman** (2:21)
Well, you know, just as an aside, you know, that's not what this is about, but I'm going to mention it just because.

**Adam Taggart** (2:27)
Go for it.

**Andy Schectman** (2:28)
No, I live down here in Florida, and I've always been fairly olive skinned, dark, complected. I don't need to go. I said to my wife, I don't need to go. Come on. You're going. So fine. I go to the dermatologist with her. And the dermatologist, you know, you're in your underwear. Basically, it's a two second thing. They didn't leave me. Oh, she's like, you're perfect.

**Adam Taggart** (2:49)
Which way?

**Andy Schectman** (2:49)
Wait, wait, wait, wait, wait, wait, she says, you got this little tiny thing that I don't really love. And it's on the back of your shoulder. Now, if you're, you know, you're living by yourself, you're not doing something like this, you're never going to catch it. And they test it comes back stage four highest level of abnormality before it becomes cancer. And she said, it's got to go. Well, it did. And then it's gone. But, you know, the point of it is, is that I play a lot of golf, but I, you know, I'm not walking around here sun tanning. So it's not even that this is getting an inordinate amount of sunlight on my shoulder blade. Get tested, man. It's it's it's I'm glad you said it. And you never know. Maybe just one person hearing this will say, fine, I'll go get tested. It takes five minutes and it can save your life. So just so I'd say that.

**Adam Taggart** (3:39)
I very much appreciate you sharing your own personal story there. So Andy, you probably don't know this, but on this channel recently, I've I've I've mentioned that since I moved to Nevada, I've ended up getting a concierge medical doctor, which is great. And I won't go into depth about it because I have before, but it's actually not even that expensive. And what he's doing with me right now is just going through the list of things that could kill a man in his mid fifties. And and now we're down to the skin cancer part of it. And what's great about it is, is one, you know, someone's there looking at you. A lot of this stuff is diagnostic. As you said, it doesn't really take that long. And oftentimes, these tests don't really even cost that much. But we've already ruled out a lot of heart conditions. We've ruled out a lot of different types of cancer. We just ruled out the skin cancer thing. I'm not looking forward to it, but I've got my first colonoscopy ever coming up. But, you know, basically, it's like the diagnostics on a car. And then once we have a baseline, you know, then we kind of know what to treat or what just to focus on preventatively. Unfortunately, in my case, knock on wood, the results have been coming back largely negative. And I hope to keep it that way. But I got to tell you, the peace of mind of just knowing this, you know, at my age, and I'm going forward in the next couple of decades of my life with pretty good baseline. Even just the peace of mind alone has a lot of value. But of course, if I'm catching anything, that's really important. And my wife is sort of like you, Andy. She takes great care of her skin. She's already had two melanomas removed from her, which anyone who knows that procedure, it's not all that fun. I mean, they really take a big divot out of your back or your body wherever they find it. It's kind of ironic that despite these little spots that they went after, I asked her for like, well, what's my letter grade here for, you know, guy in his mid-50s? She's like, oh, hey, you're doing great. And the irony is, it's like, I don't use nearly enough sun.