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[Music] good morning good afternoon good evening all over the world Dobson 777 a here well I stumbled across something today during my research that's really interesting regarding high potential for platinum but let's get started with the precious metals report so we had gold was down point zero three today silver was up point eight eight platinum one point one one and we're currently kind of into the after hours a little bit so gold is down a little bit silver is down a little bit in Platinum's down a little bit this is what the chart looked like today for gold and silver very similar characteristics share very interesting another thing that I came across thought I'd look at our progress on GD X and here's our - 2016 peak and it looked like we had a significant break out here from 2016 for the large gold miners but we're retreating pretty rapidly here so I'm hoping that we can stay above this so it can be a confirmed breakout instead of a false breakout now I want to go through a little bit of history here palladium let's look at the historical chart on palladium and you can see that it was at 1400 and it ran to almost 2800 and now it's bouncing around maybe 2,000 now rhodium was you know maybe like 2500 went all the way up to over 11,000 and now it's sitting at let's say 5500 or something and that's what this shows right here actually it's curious we have a bit of 5500 but they have an ask of 8500 so there's a pretty big spread on this and then Platinum's sitting around let's say a little bit above 800 so the curious news I was reading an article on KidCo talking about Sylvain Stillwater was planning on entering the battery space in due course and within this interview and I'll put a link to it so you can watch the interview it's about eight minutes but it talked about a tri metal catalyst that they were working with we felt it necessary to get the PGM sector back into balance so we sponsored research with BASF into what we call tri metal catalyst there's potential of potentially a real shortage of palladium rhodium is in even worse position so what they've done is they've come up with a capability of replacing some of the palladium with platinum and I told you that there's these periodic swaps between platinum and palladium but this is another strategy that is quite interesting because what they're doing now is they're gonna put all three metals together and I don't know what the percentage composition is in this I couldn't find any details but it looks like this platinum palladium rhodium are you know integrated into this honeycomb cross-section that as part of your catalytic converter and I found an article for BASF launching this try metal catalyst but it's very lacking in details and it's probably because it's a you know in intellectual property but I would have liked to have known you know the percentages they're using each one of these things but remember you know palladium is less rare than platinum and I'll have to look up what rhodium is okay so when I look at my table that I occasionally reference here let me zoom in over here so we can look at this so this is the parts per million in the Earth's crust and this is an average of I think it's five different methodologies one two three four five you have five different methodologies so what I've done is I've taken those five and I just average them across and we get silver with point zero seven five parts per million then palladium is point zero zero seven three platinum is point zero zero three nine gold is point zero zero two seven three but look at rhodium it's a triple zero six three so that's the rarest of each of these at least in the Earth's crust that doesn't mean that that's you know how much they're actually mining because they actually specifically go trying to find the highest concentration when they mined but in any event if they're making these catalytic converters I can see why they were probably focused on palladium because it's not quite as rare as you know platinum or rhodium so there's probably a you know if I was to guess this was probably like a you know eighty-five percent palladium and then 15 percent of rhodium type thing but now they're gonna add platinum in to try to offset some of those palladium costs and we'll see how that works but this is really good news for platinum so here's what the stock market did today the stock market was 0.69 positive for SP even for Nasdaq up 1.1 nine for Dow Jones Mexico was up 1.7 3 eurozone was up a little less than 1% France was like 1.8 Germany 1% United Kingdom one point two six China was down some Hong Kong was down some Japan a point seven New Zealand point six six Singapore down point seven five so yesterday gold was 0.18 this is the ETF representations of our tangibles so a point a platinum was a point six one silver up one point one one and our ETF miners were down just so slightly basically even and junior silver miners is what kind of carried the day now keep in mind we have much more detailed information for members so gold and platinum members get to see the other portfolios which actually there's some of the newer positions are going through the roof they're doing fantastic now unintended consequences of the everything shutting down I saw this article about Georgia is doing some major cuts and this actually started last year they started this process we've got a Republican governor and he is in there really making some surprisingly strong cuts and this article is a really good read because there's actually a couple cities that had eliminated all of their internal they basically out sourced a lot of their jobs and so now they have no responsibility for any of these pensions effect I think all the pensions were eliminated when it was outsourced and they've got their costs way under control on some of these cities so it became a model and now we're starting to see you know them working this at the state level and it was quite interesting reading about this because they talked about certain people's jobs going from like a hundred thousand dollars pay to like thirty five or forty thousand here we go director of Victim Services would see a salary cut from 117 thousand to about forty five thousand a senior training manager would be offered a lower level paying job paying thirty five thousand a fifty six percent cut their lumen ating 26 teachers in the system I think a lot of this was part of the prisons area but cutting about 25,000 a year here's $100,000 teachers getting cuts of almost $40,000 so I'm trying to point out that there's unintended consequences that have not hit yet and when you start seeing this happen not only at the state level but the county and city levels of each one of these states it's going to be a tremendous impact and then what about the federal government are we going to see similar cuts there I think there isn't a choice I think it's going to have to happen so these numbers are actually quite stunning when you look at the the size of the cuts it's it's quite amazing when you look at it but I've seen the numbers in California of the number of people out there making hundreds of thousands of dollars in salaries and it just is very expensive to maintain especially when you look at the pensions and everything else that are gonna be paid out for this so I am hoping you you understand the what's coming this is the beginning and it's going to be steam rolling now there was another neat article this was a couple days ago I've been holding it in the background young people are rushing to leave the big cities in favor of less infected suburbia you got to think about a lot of these kids went to these big cities because of the nightlife and everything else and all of that was shut down and it was so restrictive you were stuck in your apartment you couldn't do anything and they're saying oh why would I want to be in this place and especially if they you know we're seeing significant problems with and others getting ill and they're not seeing it in their home region so it it makes sense when you think about it now unintended consequences all these kids we all know how they vote and they're moving back to areas that probably vote differently and that's going to kind of corrupt the local scene or maybe they won't vote I don't know this is this a little bit scary when you see this because we saw what happens in Texas Texas says you know turn from red to two almost blew in at least the some of the larger cities so I thought this was another really concerning trend that they're scattering out like roaches across the country so I don't know I hate to see stuff like this but you think about it those guys probably couldn't make pay any more and they had to head back to their their families all right let me know what you think about that but I hope everybody's treating you well I hope you're doing well do the best you can god bless [Music] [Music] [Music]