Ann: Change of Director's Interest Notice x 3, page-35

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0	Column 1 0 22 Things About 2022 That Hint About 2023 for Silver and Gold​ ​

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0	Column 1 0 By Jeff Clark, Senior Analyst​ ​

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0	Column 1 0 What can we expect from gold and silver in 2023? Part of effectively answering that question is to look at the context of what took place this year. Nothing happens in a vacuum, after all. With that in mind, see if this review of 22 things that happened with gold and silver in 2022 helps you prepare for 2023…​ Gold​ ​

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Column 1 0 #1. Central banks bought more gold through Q3-2022 than any year since 1967. History buffs will recall the US was on a gold exchange standard at the time. According to the World Gold Council, the demand has been “primarily driven by a flight towards safer assets.” Central banks have been net buyers of gold since 2009. This is a good example of “do what they do, not what they say.” #2. China, for the first time in 3 years, bought more gold for its official Reserves. It purchased 32 tonnes in November, when prices were around $1,650. China’s “official” gold reserves now stand at 1,980 tonnes. Me thinks they own a lot more. #3. The US dollar pummeled markets this year, even weakening the gold price. Some investors concluded the dollar and the Fed were indeed in control. But I took on both Fed officials and US dollar in this fun video, ultimately calling their bluff (and even embarrassing them). #4. “It won’t be just another recession,” says Economist Mohamed El-Erian. “We’re headed for a profound economic and financial shift.” That is quite the warning coming from a mainstream economist who’s not prone to hyperbole. To whatever extent he’s right, gold ownership is one of the strongest financial assets we can own to get through it. #5. A Social Credit Score gained some popularity earlier this year. Given the vulnerabilities of the current monetary system, we think a Hard Money Credit Score is more important—take the quiz! #6. A Central Bank Digital Currency (CBDC) may be gaining steam with some governments, but this automatically raises concerns about personal privacy. Physical gold and silver, on the other hand, are outside the banking system, can’t be “programmed,” and are tangible hold-in-your-hand assets. #7. Has anything changed with the 3 D’s? Debt is at all-time highs, Deficit spending has become a way of life for politicians, and stubbornly high inflation Devalues our fiat purchasing power every month. This is not a time to sell gold but to buy it. #8. Gold holds purchasing power, but in many instances can gain purchasing power. It did that very thing with US Savings Bonds, as this real-life example shows.​ Silver​ #9. The gap between annual silver supply and demand has ballooned, creating the biggest deficit in decades. Supply at the LBMA is also dropping precipitously. Here’s why the sudden gap and what it could mean for prices. #10. Could silver really hit $500?! I picked the brain of a grizzled industry veteran at a conference this fall, and he told me why he thinks silver will indeed reach that lofty level. He even gave me a timeframe — it was an insightful conversation. #11. How long can silver remain cheap? Not much longer, says this clue from the primary silver producers. #12. A spike in silver is coming, as this comprehensive research on the gold/silver ratio shows. #13. Silver’s DNA is boring-boring-BOOM! That’s what history clearly demonstrates, which I highlighted in the first 10 minutes of this fun video at the Silver Symposium.​ Monetary Uses and More​ #14. Wanna buy a beachfront condo with gold? Or how about a new car, new boat, beer, wine, or luxury resort stay? My presentation in Vancouver showed how they could all become more affordable in the near future—but only if you use gold, not depreciating fiat currency. (DISCLAIMER: Mining stocks are covered in this video and should not be considered recommendations to any investor). #15. If you think a recession or stock market crash is coming, you may want to consider what history shows about gold’s hedging abilities. #16. “PermaCrisis” was the Collins Dictionary word-of-the-year, referring to “an extended period of instability and insecurity.” Very apropos, and with a “decade of volatility” ahead of us, gold should be a cornerstone asset in every portfolio. #17. Will the Fed pivot in 2023? My research says they will be forced to, starting with an end to rate hikes long before the CPI reaches their 2% goal. #18. More currency creation is virtually guaranteed, as this sobering research unveils. The easiest “solution” to central bankers is to print currency, a strategy they employ almost every time they run into a problem. It signals we should buy the one asset that can’t be diluted, debased, or destroyed. #19. Mike Maloney’s best quote of 2022 is a warning: “What’s coming will be the weirdest, most twisted thing you’ve ever seen, something that will be very hard to predict. So, the more educated you are on history the better chance you have at surviving it.” And education is what Mike is all about—there are over 60 articles on the Getting Started page. #20. More conference and mine tour invitations… the number of conferences I’ve been asked to speak at and the number of mine site visit invitations I’ve received definitely jumped in 2022. While the recent drop was due to Covid, there is clear interest building in the industry. That bodes well for 2023. #21. Can you guess the top selling silver product at GoldSilver in 2023?!Based on the number of orders, it may surprise some investors to learn that it wasn’t Eagles or Maple Leafs, nor the 100-ounce bar (last year’s winner). It was… InstaVault Silver. And it’s easy to figure out why: with silver premiums still stubbornly high, it’s a way to own physical metal at a much lower premium. It’s the very reason Mike started the program. And your fellow investors love it. #22. What was the top selling gold product at GoldSilver.com? It’s still the 1-oz American Gold Eagle Coin (common date).It’s the most popular gold coin in the world, including with GoldSilver’s customers.​ Ready or Not...​ A high degree of uncertainty surrounds us—with the markets, the economy, the monetary system, geopolitics, and even the increased possibility of a black swan.​ ⮚ The unusually high level of systemic risk points to the need to shield our lifestyles with physical gold and silver.​ We hope, like us, you’re prepared for whatever may happen in 2023.​ ​

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