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The economy, [music] what is this world really? Okay, I'll summarize it for you. Yes >> Uh-huh >> Primarily, I'll say it directly, China hasn't given anything to America much overall. >> Oh, yes >> The last time China welcomed Putin, there were over 40 MOUs signed. >> Yes >> One of them is the oil pipeline, right? From Russia to China. >> Uh >> It's a very long one. Trump got nothing but nice words and looking at trees over 400 years old. >> Ah, Boeing got 200 planes. >> We still don't know if it's real, if it's just verbal. >> Verbal. >> No MOU has been signed yet. >> And we don't know what specifications were bought or how, but it seems vague. >> But Putin isn't like that. >> Yes >> And importantly, I'm watching only one thing among all of them. Mr. Xi Jinping said he doesn't need it. >> Uh-huh >> So the stock market fell, right? >> The stock market fell, and the owner himself came out and said, "Oh wow, we've closed off opportunities in the Chinese market." >> Closed off opportunities in the Chinese market. >> Lost to a weak husband. >> Just because Trump banned Huawei from selling >> AI chips to China. >> Exactly. >> When they wanted to sell to Beig >> "No more." >> "No more, we'll develop it ourselves." >> Yes >> They are fed up with being under your control. >> Yes >> America didn't get much in the past. >> But I'm watching a few issues besides NVIDIA, which is the main issue. Soybeans. >> Soybeans, soybeans, they haven't appeared, professor. >> When they don't appear, it's like killing Trump politically. >> Because in the November election swing, you'll be ruined. >> This is issue number 1. >> Uh-huh >> Issue number 2, Iran. >> China didn't ask for anything. >> Didn't ask for anything at all. >> Didn't ask for anything at all. If you want to do it, do it. Why? >> Uh >> The weapon that Iran and China are using to remain idle right now is inflation. >> Uh-huh >> And inflation is shaking America and shaking the world. >> Yes >> That you have to do something, which is to make Trump almost have to argue heavily with his own team, which is JD Vance. >> The Vice President. >> Yes, they say they are arguing heavily because JD Vance said it's time to go back and solve the oil problem at home because the price is very high. But you, Donald Trump, see JD Vance's negotiations as making the US look weak. Blame him. >> Now they are arguing heavily. Trump thinks we need to attack quickly. >> Uh >> Deal with it decisively. >> Yes >> We can't leave it dragging on. >> Uh-huh >> But Vance says no one wants it anymore, let's retreat. >> Let's retreat. >> Find a way to win and retreat. We can go attack Cuba. Cuba still has lithium to block China. This is my own thought, I'm saying it. >> Uh-huh >> But if they argue like this, what does it mean? It's a strong conflict. >> Yes >> Because if you attack, you'll suffer heavily. >> And Vance's side has Kushner and also Trump's friend, uh, Vance. >> They say if we don't retreat, we'll die from inflation. >> Uh-huh >> And inflation is showing its effects after the negotiations in China yielded nothing concrete. >> And Iran is still in place. >> Uh-huh >> That is, inflation is not only soaring, but people are selling off American bonds in large quantities. >> Oh wow. >> At the 10-year interest rate. >> Soaring. >> In the last few days, it was very strong. >> Uh-huh >> And for the 30-year, they sold so much that the price dropped. >> Uh-huh >> It's called the yield, or the return, has risen to its highest in 19 years. >> Uh-huh >> So much so that people are asking if it will collapse. >> Will it collapse? Uh-huh. >> Will it collapse? >> Something has to collapse now. >> So people are asking who is selling in large quantities. People are asking Professor Panthap. >> Uh, Kevin Wach, the new Fed chairman, is he implementing QT as Professor Thap said? That is, selling his own bonds in the bank to pull US dollars back in. >> Uh-huh >> To reduce inflation, to reduce the amount of dollars in the system. Will this be a way to reduce inflation? >> Uh-huh >> Or not? >> I say no, because >> Vance hasn't been sworn in yet tonight. >> Yes >> Not at all. >> I just found this out too. He said during the waiting period for the swearing-in, even though Powell's term ended last Friday, he has to act as interim. >> Until the other side finishes their swearing-in. >> Yes, what does that mean? Everyone in the world knows, and Kevin Wach knows what he's thinking. One of them is thinking of selling bonds. >> And causing the price to drop. >> If so, wouldn't it be better if we sold first? >> Sell first. >> And why should we wait for you to sell and then do it? >> So it's reported that CNPC revealed that Japan and China sold the most US government bonds in March. They said China reduced its holdings of US bonds to $652.3 billion, a 6% decrease from February. >> It's the lowest level since September 2008. >> As for Japan, which is actually the largest holder of US debt, it also reduced its holdings by $47 billion. >> Yes. Now people are asking me, what should we do? Why is gold falling? It's falling for this reason. Let me tell you. When the bond market is like this, everyone is selling, right? >> The difference in bond yields will increase because people are selling. During this period of difference, >> Uh-huh >> it will widen. People will think, can we make a profit? Will they go in to get the interest yield because the price is low, right? >> Will they go in to buy? Hesitating, or will it keep falling? There are two possibilities. >> Uh-huh >> If it keeps falling, it will definitely collapse. >> Ah >> Right? That's clear. But if the yield has a chance not to rise further, people will say, "Yes, then I'll jump in to get the super high yield." >> It's better than regular interest. >> Yes >> They compete like this: will you believe in greed or fear more? >> The important problem is >> From the current situation, why are people selling gold? >> Uh-huh >> Do you know, Ms. Ke? >> Why? >> Because inflation will not happen only in America. >> Uh-huh >> It will happen all over the world simultaneously. Why? When oil prices are high, the petrochemical industry is lacking. >> Lacking plastic, lacking fertilizer. >> Oil prices are rising, this affects the whole world. >> When it affects everyone, everyone has to hoard. >> Uh-huh >> Right? Let's start with organizations and companies. >> If you have assets, have plenty of money, >> you have to sell them to buy products and stock them. >> Ah, exactly. >> So that you can continue to sell, right? >> Ah, think further. >> What about countries with foreign reserves held by their central banks? >> Governments have to do what? First, they have to accelerate oil imports, right? >> Accelerate imports of petrochemicals, accelerate imports of gas and plastics. You need cash. >> Uh-huh >> And if you have little cash, you have to sell the assets you have. >> They say Turkey sold everything, professor. >> Turkey is an exception. It's a country that is already on the verge of bankruptcy. >> It already has low reserves, so it uses the method of selling American bonds to get cash. >> Uh-huh >> To exchange for those who lack money and need to take money out of the country. >> If there isn't enough money for them, >> Uh-huh >> And the money leaves the country, the money will fall until it's worthless. >> And it's spreading. >> Uh-huh >> Now, viewers, follow me. Countries that have gold >> Uh-huh >> And countries that are hoarding gold have two statuses: 1. Countries with gold and a bad economy have to sell their gold. >> Uh-huh >> To keep cash as foreign exchange reserves to buy other things, buy fertilizer, buy oil, and also private individuals in the country who need to import goods from abroad will also have to sell their assets. Private assets will be sold, bank assets will be sold. How can gold not prosper? 1. >> Uh-huh >> But someone is buying it. I've been watching the numbers all the time. I found that in the East of developing countries >> Not including India, which is >> Uh >> stopping gold imports because Indians are importing so much gold that they're running out of money, cash flow. That much. I mean, private individuals. >> Uh >> Right now, globally, China is not stopping gold imports. >> I emphasize that. >> Uh >> And what does that mean? It means that in the long run, the gold base is still stable. >> Uh-huh >> But in the short term, there's a struggle. >> Uh >> It reflects that some strategists have given up, which I don't blame them for. >> But I see that the price drop is an opportunity. This kind of up and down struggle is normal. >> Yes >> And people ask, "Professor, you said it would be a great fortune, why did gold rise but not strongly enough?" >> Thursday is still a "prat" (unstable), meaning unstable. I've said this before. >> And viewers, notice it fell from Thursday. Sunday, it moved from "maha-u" (great fortune) to "phruesop" (a less auspicious period). It's been falling since May 15th, right? >> Huh? >> It's still falling. >> Uh-huh >> Until mid-June. >> Uh-huh >> Mid-June. >> June? Wow. >> Mid-June. >> Now, that's the stars. Don't believe me. I always emphasize, don't believe in >> It coincides with the Fed meeting, Kevin Wach's first one. >> Yes, Kevin Wach's first meeting. I don't know what it will be or what he'll think. >> Uh-huh >> But I know that if someone sells American bonds first, >> Uh-huh, Kevin >> Wach won't be able to do QT. >> Uh-huh, because the yield has already dropped. You're going to drop further. >> And who will believe in American bonds? >> They'll sell even more. >> Until it might cause >> America to be unable to borrow. That's one side. >> Uh-huh >> Now, Ms. Ke, besides foreign reserves, there's another problem: the whole world is issuing bonds simultaneously. Thailand also has 400 billion, right? >> Yes. Everyone needs money. >> The economy is bad. >> Uh-huh >> The whole world needs to stimulate the economy by default. >> No country doesn't issue for fundraising by printing money. >> Yes >> If a country is stable, it issues bonds and people borrow. But a country that isn't stable has to ask the central bank to print money for them. >> Yes >> And then use that money to spend to stimulate the economy. >> Uh-huh >> So what does that mean? It means that the money supply in the world, in all countries, >> Uh-huh >> will have to increase. What does that mean? The supply in the market, or the global money supply, has increased. It means it has to be compared to something, right? >> Uh-huh >> That is still scarce. 1 is oil, right? >> 2 is gold, right? Silver, right? Prices are low, so it's a time when many people are interested in investing at this moment. Now, in one journal, >> Yes >> which is important, called In Trust Intrust, which I've been talking about for 2 years, saying it's one of the best analyses of gold I've ever seen. It's from Increment, the 20th anniversary issue. >> Yes >> Increment AG has details. I'll summarize it for you. 1. Viewers, listen to the numbers and ponder them carefully. They think 1. They have set a new price target. >> At what price? Listen carefully. >> Here it is. This is the old one. Now there's a new one, the 20th anniversary issue. It's okay, I can see this. They say the decade of gold, which we look at every 10 years, the "Golden Decade," which was predicted since 2020. >> Yes. >> This year is 2006. >> Uh-huh >> It is proceeding strongly according to the graph they believe in, with the original target set at gold reaching $4,800. >> Uh-huh >> $4,800 by 2030. But it actually happened in 2026. >> Yes >> After gold hit a record high of $5,559, $5,595 per ounce in January. >> Increment then adjusted its new target. >> After what they evaluated didn't go as planned. >> It was faster than expected. >> So they adjusted the long-term target to what? Do you know? In 2030, 2030, how many years is that? It's 6 years, right? >> Yes. >> Do you know how much they set the target at, Ms. Ke? >> How much, professor? >> Don't be shocked when you hear it. $8,900. >> Uh-huh >> $8,900. If the process of changing the global financial system accelerates, the price could skyrocket even higher. >> Uh-huh >> Now, Increment's analysis continues that the main driving factor now is the surge in gold prices, not short-term speculation. >> But it's a trend of its return to prominence as the world's primary financial asset. >> Uh-huh >> The factors pressuring it are geopolitical divisions, reduced reliance on the dollar or de-dollarization, inflation volatility, and distrust in the fiat money system. >> Uh-huh >> Which has shown signs of weakening since the end of the gold standard in 1971. >> Yes >> But the market is still in the early stages of development. >> Uh >> It will become lively when retail investors and financial institutions start pouring in. Gold held by the private sector accounts for only 2.7% [inhales] 7% of global finance. This means the market is still far from being overcrowded, or what is called a bubble. >> And it's like a party where guests are just starting to arrive. >> Oh my. >> Now, the role of central banks, which is the most important. >> Yes >> Quantum analyzes that demand for gold from central banks worldwide remains strong. >> Uh-huh >> Especially since central banks have bought up to 863 tons, after buying over 1,000 tons for three consecutive years. >> Uh-huh >> There's talk of the possibility of a political revaluation of America's gold reserves from the accounting price locked at $42.222 per ounce to reflect the actual market price. And the most important factor is public debt, which we are talking about now, which is ballooning now, borrowing all over the world. >> Global public debt has surged to a record high of $348 trillion at the end of last year. >> Uh-huh >> And America alone has $39 trillion, causing American bonds to lose their status as risk-free assets because the real return, after deducting inflation, is negative. >> Oh my. >> This means holding bonds will devalue. >> Investors must >> turn to gold in the end. >> Yes >> In the short term, they analyze that the gold price is expected to fluctuate within the range of $4,500 to $4,950 to consolidate from this graph. >> Uh-huh >> But there might be a risk of a short-term decline due to rising US bond yields or liquidity problems in the stock market. >> But Increment views that >> every dip is the best buying opportunity. >> Uh-huh >> This is the principle. >> Uh-huh >> Now, viewers, let's return to this. >> The graph is slow because they have released the 20-year report, and I've seen all the graphs. >> Yes. >> They conclude that at this moment, it's a downtrend that is heading towards the struggle of the global financial system change. For me, in the past, whoever had weapons, >> Uh-huh >> money, >> Uh-huh >> credibility, had money tied to petroleum. >> Uh-huh >> And the highest technology, that person ruled the world. >> Right? There are 4 things. >> Today, does China have weapons? >> Yes. >> Maybe more than America dares to resist. >> Uh-huh >> Yes? >> Yes. >> 2. Does it have a currency tied to oil? It's starting to. >> Yes. >> But more importantly, it has rare earth minerals. >> Uh-huh >> Rare earth minerals can produce energy for solar cells and electric vehicles. >> Uh-huh >> That can replace oil. This changes the world. >> And now I see the accumulation of rare earth minerals, especially silver, platinum, and other related technologies. It's clear that it has increased to a record high. >> Uh-huh. They are changing the world in the long run. I don't see a way for China to lose. >> But I also don't see America losing. >> But the world will likely be divided into poles. >> Uh-huh >> Whoever chooses correctly who will be richer, that person wins. >> Uh-huh >> For me, I still have a positive long-term view on gold. >> Uh-huh >> So, those who have it, hold onto it. Don't be discouraged. Hold on, don't be discouraged. >> Look at lottery players as a primary example. >> Lottery players, when they bet wrong, almost win, almost win. >> Next time, try again. >> Try again. >> When they win, they are very happy, but they only win a little. That draw, they lose in many numbers, and they don't talk about it for weeks. [Laughter] >> They remember it for a lifetime. >> Yes. How strong does the mind have to be? >> How strong does the mind have to be? Look at lottery players as a primary example. They still have better morale than gold. Gold is in your hands, you haven't sold it, you haven't lost. Close your eyes, don't hear anything, you haven't lost. >> Keep it for 4 years. >> Keep it for just 4 years, what's the harm? >> But if you have cash and need liquidity, don't take too much risk in this situation, or borrow money, absolutely not. >> Cold cash sitting around here will be stuck in a "doy" (a loss) here in this room. >> No one is afraid because they know. >> Even if they are afraid, they won't tell us. >> But they say to pretend not to look for a while. >> Exactly. >> Don't let Professor Thap repeat it too often, it will be heartbreaking. >> Just close your eyes and ears, listen with pleasure, look at the long term, believe in it. >> Because 2 years ago, I was also stuck in a "doy." >> Uh-huh >> And I believed like this, and I saw that it could still go further, so I stuck to the approach. >> [Music] [Music] [Music]