WEBVTT 1 00:00:05.240 --> 00:00:09.199 Joining us now is Tony Ardaban of Why is Wolf Gold, and Tony has 2 00:00:09.240 --> 00:00:12.039 set up David Knight dot Gold which would take you there and let him know 3 00:00:12.080 --> 00:00:15.240 that you're coming through us. Always good to have Tony, and he has 4 00:00:15.279 --> 00:00:20.120 been incredibly busy the last couple of weeks because of what is happening in the 5 00:00:20.160 --> 00:00:23.760 gold market. I've talked a little bit about this, how it is really 6 00:00:23.879 --> 00:00:29.000 shot up. It's like a nineteen percent if I remember over the last month 7 00:00:29.120 --> 00:00:32.640 or something like that, but a tremendous jump and the price of gold. 8 00:00:33.200 --> 00:00:36.439 Thanks for joining us, Tony, Well, thanks for having me, David. 9 00:00:36.479 --> 00:00:39.560 That's good to see you. Good to see you. The price of 10 00:00:39.560 --> 00:00:43.000 gold that keeps hitting it's all time high. It's hitting it so often I'm 11 00:00:43.039 --> 00:00:45.520 not even keeping up with it anymore. I think it's hit it's all time 12 00:00:45.560 --> 00:00:48.479 high like four times in the last thirty days. That's right. Yeah, 13 00:00:48.520 --> 00:00:51.119 you look at it. It's like is this a new article or what is 14 00:00:51.159 --> 00:00:56.000 this? And so much so that the Mesa's Institute is asking, so is 15 00:00:56.039 --> 00:00:59.960 gold over priced or can its price go even higher? And I thought that 16 00:01:00.200 --> 00:01:03.519 was interesting because you know, the Mesa's Institute is a financial think tank, 17 00:01:03.920 --> 00:01:08.920 economic think tank looking at the writings and of course, you know, just 18 00:01:10.000 --> 00:01:17.239 a general free market libertarian perspective of Lugwig von Mises, and they're not selling 19 00:01:17.239 --> 00:01:19.280 gold, but they're looking at this stuff and they thought, well, you 20 00:01:19.280 --> 00:01:26.120 know, it expensive compared to what was there question. Well, that's right. 21 00:01:26.159 --> 00:01:30.920 I mean, what you're actually watching is not goal reaching it's all time 22 00:01:30.959 --> 00:01:33.799 high. It's the dollar reaching it's all time low. It's an inversion. 23 00:01:34.000 --> 00:01:37.599 Yeah, because as you know, if you go back to our original system 24 00:01:37.719 --> 00:01:41.719 here in the United States, the bimetallic system, there was no inflation in 25 00:01:41.760 --> 00:01:45.840 the nineteenth century, so a pair of a pair of shoes in eighteen hundred 26 00:01:45.840 --> 00:01:49.280 would cost you the same in nineteen hundred. There was no inflation because we 27 00:01:49.359 --> 00:01:53.400 had a gold standard and we had a silver dollar. And of course that 28 00:01:53.560 --> 00:01:57.959 changed it pretty much in nineteen thirty three, when Franklin Roosevelt is its executive 29 00:01:57.079 --> 00:02:00.159 order for you to turn the gold in. He raised the price of gold 30 00:02:00.159 --> 00:02:05.760 of thirty five dollars an ounce once all the Americans that complied. There's a 31 00:02:05.760 --> 00:02:07.800 lot of Americans that didn't comply, David, because I buy those coins all 32 00:02:07.840 --> 00:02:12.919 the time, those pre nineteen thirty three American coins but they raised the price 33 00:02:13.319 --> 00:02:16.800 of gold to thirty five dollars announce. That was a banker's ploy to shift 34 00:02:16.840 --> 00:02:21.000 the gold away from the United States to the Bank of International Settlements. You 35 00:02:21.000 --> 00:02:24.000 can go back and read the history. But again, after nineteen forty four, 36 00:02:24.120 --> 00:02:28.840 Breton woods thirty five dollars an ounce and it stayed that way until nineteen 37 00:02:28.919 --> 00:02:34.560 seventy one. And then Richard Nixon because of all the the basement of our 38 00:02:34.599 --> 00:02:38.159 currency that the country's other countries noticed, we took the silver out of our 39 00:02:38.199 --> 00:02:43.400 coinage, that we were writing checks beyond our capacity for guns and butter and 40 00:02:43.520 --> 00:02:46.840 Vietnam and the Great Society on the Mekong, like LBJ said, And so 41 00:02:47.560 --> 00:02:53.240 Richard Dixon knew that we couldn't continue to keep the gold window open, and 42 00:02:53.520 --> 00:02:55.800 they went off the gold standard. In August fifteenth, nineteen seventy one, 43 00:02:57.120 --> 00:03:00.759 gold went up two thousand percent. But that doesn't mean that gold went up. 44 00:03:00.800 --> 00:03:05.960 It just means that we have a revaluation of fiat currency. And now 45 00:03:06.080 --> 00:03:08.800 every country on Earth has a fiat currency. They all followed the United States 46 00:03:09.199 --> 00:03:15.280 after nineteen seventy one. The United States now has the oldest surviving fiat currency 47 00:03:15.319 --> 00:03:19.319 in the world. The average life spans about twenty six years, so we 48 00:03:19.439 --> 00:03:22.520 doubled that. And so I think you're just going to continue to see these 49 00:03:22.680 --> 00:03:28.159 price ships because of the bricks nations primarily, and honestly, David, I 50 00:03:28.159 --> 00:03:31.360 don't think we would see these prices in gold this fast the way it's doing 51 00:03:31.400 --> 00:03:38.840 without the war in Ukraine, with sanctions that were placed on Russia after NATO 52 00:03:38.719 --> 00:03:44.159 provoked. In my opinion, NATO wanted that incursion, but they put the 53 00:03:44.199 --> 00:03:49.039 sanction. We put the sanctions on Russia, and the Russian finance minister months 54 00:03:49.120 --> 00:03:52.400 later said well dollars or candy wrappers, dous and got off of the system. 55 00:03:52.479 --> 00:03:55.840 Other countries took notice. We have forty different sanctions on thirty six different 56 00:03:55.879 --> 00:04:03.360 countries weaponized the dollar. You're watching really is not so much that gold is 57 00:04:03.400 --> 00:04:09.599 having its moment. It's that the dollar is losing ground, losing ground rapidly. 58 00:04:09.639 --> 00:04:13.800 The world is taking notice. They want a revaluation of commodities. That's 59 00:04:13.800 --> 00:04:16.040 what Brazil, Rushing, India, China, South Africa, now Saudi Arabia 60 00:04:16.079 --> 00:04:21.800 are all about that. The reevaluation, in my opinion, of all commodities. 61 00:04:21.879 --> 00:04:27.720 And I was looking just before we went live, other countries like India, 62 00:04:27.879 --> 00:04:32.800 record numbers of silver being record numbers of gold in China. China had 63 00:04:32.839 --> 00:04:40.720 a major etf had to stop trading because people were buying so much paper stock 64 00:04:40.800 --> 00:04:43.519 gold there wasn't enough gold to back it up. At least That's what I'm 65 00:04:43.560 --> 00:04:46.480 looking at. And this is going to be a problem I think in the 66 00:04:46.519 --> 00:04:48.720 West too. We're just at the beginning of this. If you think you 67 00:04:48.800 --> 00:04:55.040 missed the boat on gold and precious metals, especially with silver still being under 68 00:04:55.079 --> 00:04:59.399 thirty dollars an ounce, you are mistaken because there's a lot of room left 69 00:04:59.439 --> 00:05:02.680 here. But it's not looking good for King dollar. And of course I 70 00:05:02.720 --> 00:05:06.279 talked about this earlier in the week and they were saying they talked about the 71 00:05:06.319 --> 00:05:12.480 inverse relationship between the Federal Reserve Fiat currency and gold and how you know one 72 00:05:12.480 --> 00:05:16.519 would they go up and down in an inverse relationship with each other. And 73 00:05:16.519 --> 00:05:21.480 they said, so always these Western institutions, under certain circumstances, they would 74 00:05:21.879 --> 00:05:25.839 start selling their gold and you know, the East would buy it up and 75 00:05:25.839 --> 00:05:27.959 that type of thing. But that all got broken, they said, is 76 00:05:28.079 --> 00:05:31.319 with these sanctions and other things that are happening. It also got broken with 77 00:05:31.360 --> 00:05:36.920 this ETF stuff that is out there, because they have used that to essentially 78 00:05:36.959 --> 00:05:44.360 create a fiat gold system that has gotten so out of whack that they can't 79 00:05:44.439 --> 00:05:46.040 even make a credible case for it. As you pointed out, they had 80 00:05:46.040 --> 00:05:50.800 to suspend suspend trading on it. But as Forbes looked at it, it 81 00:05:51.040 --> 00:05:56.040 was tremendously I forget what the ratio was, I'll look it up here as 82 00:05:56.040 --> 00:05:59.560 we're talking, but the ratio that was there was absurd. And they said, 83 00:05:59.600 --> 00:06:01.399 well, that's then a conservative one. A lot of people estimate that 84 00:06:01.480 --> 00:06:06.040 the ratio of ETFs that are out there trading about gold are much much higher 85 00:06:06.079 --> 00:06:10.839 than the actual physical goal that's there. But they were saying a lot of 86 00:06:10.879 --> 00:06:14.680 the same things that you've said in the past. Where what was interesting earlier 87 00:06:14.720 --> 00:06:17.560 in this year was the fact that the Federal Reserve was making these different moves, 88 00:06:17.560 --> 00:06:19.920 like you know, hiking the interest rate up and things like that that 89 00:06:20.079 --> 00:06:24.839 normally would cause gold to go down, and it was holding its own. 90 00:06:25.279 --> 00:06:29.920 And they said, that's because everybody has lost so much faith in the dollar 91 00:06:30.519 --> 00:06:33.920 that they are still accumulating the gold. And you know, as the institutions 92 00:06:33.920 --> 00:06:40.639 want to sell off their gold, there's still more demand keeping the price high. 93 00:06:40.959 --> 00:06:43.360 And so I think that's really what the Mesa's Institute was talking about. 94 00:06:43.439 --> 00:06:46.360 They said, you know, if you are we late on all of this 95 00:06:46.480 --> 00:06:50.920 in terms of getting into gold, well not unless you think that they've somehow 96 00:06:51.000 --> 00:06:55.560 figured out what they're going to do with the fiat currency and if they can 97 00:06:55.600 --> 00:07:01.160 somehow fix this stagflation or this dragflation Silinty calls you know, like a recession. 98 00:07:01.240 --> 00:07:05.360 I just stagnant, but a real recession along with inflation. If you 99 00:07:05.439 --> 00:07:10.000 think they've got that solved, then yeah, you'd be late. But they've 100 00:07:10.000 --> 00:07:15.480 got some so many built in problems and things have shifted underneath them that a 101 00:07:15.519 --> 00:07:18.279 lot of people are saying this is just the beginning. And so that's that's 102 00:07:18.279 --> 00:07:21.079 where you've been, I guess, just kind of run around trying to keep 103 00:07:21.120 --> 00:07:26.040 track of demand in orders. Well. Absolutely, and the rules of the 104 00:07:26.079 --> 00:07:30.879 game are changing. I mean Jerome Palace at first said that inflation was transitory, 105 00:07:30.920 --> 00:07:33.560 along with Jennet Yellen. This was all transitory and nothing to worry about, 106 00:07:33.639 --> 00:07:36.600 nothing to see here. And then they became very hawkish and they're going 107 00:07:36.680 --> 00:07:41.000 to whip inflation, no problem, We got this, and they raised rates 108 00:07:41.360 --> 00:07:45.439 faster than any time in history. To Kurt tell that inflation. Then they 109 00:07:45.439 --> 00:07:47.720 felt like they're really confident this last six months or so, we're going to 110 00:07:48.040 --> 00:07:54.000 talk about lowering rates because the economy could sure use a goose before the for 111 00:07:54.160 --> 00:07:58.759 the election. Not that they're political or anything, David, the Federal Reserve's 112 00:07:58.800 --> 00:08:01.160 way above that. They're not. They're not playing politics, are not going 113 00:08:01.199 --> 00:08:05.519 to intervene. But they got a problem because the latest data that's out, 114 00:08:05.120 --> 00:08:11.000 inflation continues, the economy's roaring along, Inflation continues, and what are they 115 00:08:11.079 --> 00:08:16.759 going to do. They've promised these rate lowerings. The European Central Bank has 116 00:08:16.879 --> 00:08:20.360 just backed off of a rate lowering, so they're going to hold rates. 117 00:08:20.040 --> 00:08:24.079 So we're not going to see I don't think we're going to see any rate 118 00:08:24.160 --> 00:08:26.560 lowering for a minute or two. It may be going too right before the 119 00:08:26.600 --> 00:08:31.360 election. They're going to do it this year. They I think they've promised 120 00:08:31.360 --> 00:08:33.159 too much. There's too much built into the system. It's all rigged. 121 00:08:33.840 --> 00:08:39.039 As you know, this isn't your father's stock market of Wall Street's not based 122 00:08:39.080 --> 00:08:43.200 on profit anymore. It's based on environmental, social governance and your relationsship to 123 00:08:43.240 --> 00:08:48.960 this central bank it's not really entrepreneurship anymore. So I think you're going to 124 00:08:48.000 --> 00:08:52.440 see some intervention. There'll be some rate lowerings, but it's hard to do 125 00:08:52.519 --> 00:08:54.559 that in the face of the data that's coming out, and a lot of 126 00:08:54.559 --> 00:08:58.840 this has to do with the energy sector. As a matter of fact, 127 00:08:58.879 --> 00:09:05.159 the White House is not going to be buying back food off the open market 128 00:09:05.200 --> 00:09:09.960 to replace the strategic petroleum reserve. Yeah, that's insane. I mean, 129 00:09:09.960 --> 00:09:15.600 we're not replacing our strategic petroleum reserve in the face of all this geopolitical upheaval. 130 00:09:16.919 --> 00:09:20.960 Honestly, I think this is them not wanting to drive the market up 131 00:09:20.080 --> 00:09:24.799 or do something to increase the price, because that's where you're seeing inflation. 132 00:09:26.159 --> 00:09:31.639 It's in the items that people need. He's he sold off the strategic petroleum 133 00:09:31.639 --> 00:09:35.360 reserve to lower the price before the election. Not even Obama did that. 134 00:09:35.799 --> 00:09:39.480 Always in the past, they would hold that until there was a storm that 135 00:09:39.559 --> 00:09:46.080 came through and took refineries offline and Louisiana or something like that, some kind 136 00:09:46.120 --> 00:09:48.559 of real disaster, that's what they would use it for. Biden used it 137 00:09:50.039 --> 00:09:54.480 to make himself look good to temporary lower, temporarily lower the price of gas 138 00:09:54.720 --> 00:09:56.440 and of course, if he goes out there and replaces it at this point 139 00:09:56.480 --> 00:10:03.200 in time, that is going to mitigate against reducing the price of gas, 140 00:10:03.240 --> 00:10:05.879 because he's going to be you know, out there buying stuff, so it'll 141 00:10:05.919 --> 00:10:09.720 bid the price up. So the only thing he can do now is just 142 00:10:09.759 --> 00:10:15.360 to set it out and not refill that. It's really it shows how he 143 00:10:15.480 --> 00:10:20.840 has absolutely no interest in what is good for this country. It's all about 144 00:10:20.840 --> 00:10:26.120 his own personal political gain and in that regards, just like Trump, it's 145 00:10:26.159 --> 00:10:28.559 almost like it's a plan, David, like a controlled demolition. Yeah, 146 00:10:28.679 --> 00:10:31.600 like the calls are coming from inside the house. I mean, all these 147 00:10:31.720 --> 00:10:37.440 these decisions that are made are not strengthening our economy, They're not strengthening our 148 00:10:37.600 --> 00:10:43.000 readiness as far as national security. Obviously, this is all part of a 149 00:10:43.039 --> 00:10:46.039 plan. It's an inside job. And you see this, this is the 150 00:10:46.039 --> 00:10:48.720 consequences you want. You want to intervene unnaturally in the market. You want 151 00:10:48.720 --> 00:10:54.320 to release food from the strategic petroleum reserved to lower the price temporarily. Well, 152 00:10:54.320 --> 00:10:58.120 guess what if the price goes back up and you have to replace that 153 00:10:58.320 --> 00:11:01.879 when you buy it again, it drives the price up, So your intervention 154 00:11:01.039 --> 00:11:05.840 backfired on you again, it's the same thing with these You know, can 155 00:11:05.879 --> 00:11:09.879 you imagine going back in one hundred years and saying, well, I don't 156 00:11:09.879 --> 00:11:13.399 know what's going to happen to the economy. The Federal Reserve hasn't told me 157 00:11:13.399 --> 00:11:16.799 what to do yet. I mean, nobody, nobody was looking to the 158 00:11:16.879 --> 00:11:20.360 Fed to figure out what's the next move, what should I do, what 159 00:11:20.360 --> 00:11:24.639 should I invest in? This has become so ubiquitous. It's just it's permeated 160 00:11:24.679 --> 00:11:28.279 all of our culture what the Federal Reserve is doing. And frankly, what 161 00:11:28.320 --> 00:11:33.399 they're doing is they're ruining our currency faster than really I think is natural. 162 00:11:33.480 --> 00:11:35.759 I mean, I think we had a little bit more time left on the 163 00:11:35.799 --> 00:11:41.320 dollar, honestly, but just the amount of eubris and the sanctions that are 164 00:11:41.360 --> 00:11:46.799 placed, I think everything's accelerating. And the teleprompter reader hairdo people on these 165 00:11:46.159 --> 00:11:50.200 financial networks, they just don't get it, David. They keep saying, 166 00:11:50.360 --> 00:11:52.639 well, gold is up, and that's crazy. It keeps going. Gold 167 00:11:52.720 --> 00:11:54.080 is way up, and they keep looking at the price, and I wonder 168 00:11:54.120 --> 00:11:58.000 why that is. I well, you know, there's inflation data is not 169 00:11:58.039 --> 00:12:01.360 that bad, and I mean they keep going. But again, it's the 170 00:12:01.480 --> 00:12:05.960 central banks around the world buying gold, and as you mentioned earlier, these 171 00:12:07.000 --> 00:12:11.039 ETFs and this paper gold that's out there all around the world, you can't 172 00:12:11.080 --> 00:12:16.759 really back that up. I don't have any faith in that. It's kind 173 00:12:16.759 --> 00:12:20.360 of like the silver market. I know because of the data, and I've 174 00:12:20.360 --> 00:12:24.120 interviewed the experts. You if you had a whale come in, it's like 175 00:12:24.159 --> 00:12:26.919 an Elon Musk or some big buyer, you could corner the silver market right 176 00:12:26.919 --> 00:12:31.039 now, just like the Hunts did in the nineteen seventies. But see, 177 00:12:31.039 --> 00:12:33.840 the deep State got rid of the Hunts. They made sure that nobody exposed 178 00:12:33.840 --> 00:12:39.679 that because what you're exposing if you can corner monetary metal and get the physical 179 00:12:39.720 --> 00:12:45.360 supply, is you show that the currency that it's shown in value of is 180 00:12:45.399 --> 00:12:48.720 actually fake. And that's what the Hunts did in the nineteen seventies. Nineteen 181 00:12:48.759 --> 00:12:54.200 eighty fifty two dollars and fifty cents an ounce for silver. That's crazy if 182 00:12:54.240 --> 00:12:58.159 you think about what fifty two dollars and fifty cents an hours would do now 183 00:12:58.960 --> 00:13:01.879 for your purchase seeing power in nineteen eighty terms, that's like three hundred dollars 184 00:13:01.960 --> 00:13:07.600 today. So I don't have any faith in these these markets. I think 185 00:13:07.600 --> 00:13:11.440 that supplies a lot thinner than people realize, and that's what's really driving the 186 00:13:11.480 --> 00:13:18.080 price. When people are demanding physical gold, especially places like India and China, 187 00:13:18.440 --> 00:13:22.399 it's driving the price, David, and it will come here. Costco 188 00:13:22.480 --> 00:13:26.759 is selling gold bars, and we talked about this before. We've seen this 189 00:13:26.799 --> 00:13:31.279 phenomenon where they'll they'll list the price and I think they're like fifty bucks over 190 00:13:31.320 --> 00:13:33.519 spot or something like that, and then they'll sell out and then you can't 191 00:13:33.519 --> 00:13:39.559 get them. We have supply, but I would say that it is thinner 192 00:13:39.600 --> 00:13:41.279 than you think that it is, and I'm not going to over promise, 193 00:13:41.320 --> 00:13:45.519 and so I can get any variety of anything, because I really would watch 194 00:13:45.559 --> 00:13:50.000 that is people start to wake up and demand precious metals. This price that 195 00:13:50.000 --> 00:13:52.600 we're looking at now is going to be it's gonna be quaint, that's right. 196 00:13:52.879 --> 00:13:56.840 And you know you've got we're talking about the paper gold thing. A 197 00:13:56.879 --> 00:13:58.840 lot of people who look at this and say, well, I don't like 198 00:13:58.879 --> 00:14:01.840 the dollar, we need to go with gold. They'll go with the paper 199 00:14:01.879 --> 00:14:05.639 gold and they don't realize that's one of this art article that I was talking 200 00:14:05.679 --> 00:14:11.159 about the other day gave the figures that Forbes came up with, and Forbes 201 00:14:11.159 --> 00:14:13.799 said, well, according to our calculations, there's about two hundred to three 202 00:14:13.879 --> 00:14:20.759 hundred trillion dollars worth of paper gold out there, but there's only eleven trillion 203 00:14:20.840 --> 00:14:24.240 dollars worth of gold. So in other words, they're selling twenty to thirty 204 00:14:24.279 --> 00:14:28.519 times the amount of paper ETFs. We're going to give you a share of 205 00:14:28.559 --> 00:14:33.639 the goal. They're selling twenty to thirty times what they actually have. And 206 00:14:33.600 --> 00:14:39.320 they said, we think that that's very conservative. That it's actually much worse 207 00:14:39.360 --> 00:14:43.360 than that. And as you point out earlier, China had to suspend trading 208 00:14:43.440 --> 00:14:46.639 because there was so much demand that it was getting out to a level that 209 00:14:46.840 --> 00:14:52.000 nobody would believe. I mean, if people will believe that there's twenty to 210 00:14:52.039 --> 00:14:56.799 thirty times the paper gold out there, that there is physical gold known, 211 00:14:56.840 --> 00:15:01.440 physical gold reserves, you know, they're not going to believe it. If 212 00:15:01.600 --> 00:15:03.600 at some point, if it gets up to fifty or sixty or one hundred 213 00:15:03.639 --> 00:15:09.000 times or something, at that point it becomes unbelievable and the bubble burst. 214 00:15:09.120 --> 00:15:13.039 But that reckon, that realization is going to come around at some point and 215 00:15:13.080 --> 00:15:18.360 there will be a reckoning, and so all the people who are interested in 216 00:15:18.399 --> 00:15:20.720 collecting gold are saying, well, I want the real thing instead of paper. 217 00:15:20.759 --> 00:15:26.399 That's when another type of gold rush will happen, because that's another competition 218 00:15:26.559 --> 00:15:31.360 to physical gold, that paper gold. I like what Larry Fink, the 219 00:15:31.399 --> 00:15:35.840 head of Black Rocks, said a couple of weeks ago about people in countries 220 00:15:35.879 --> 00:15:39.639 like India and China and emerging markets. He said, you're not helping when 221 00:15:39.639 --> 00:15:43.279 you're buying gold. You're not helping anything. You're not helping the market. 222 00:15:43.320 --> 00:15:46.240 It doesn't do anything. And I thought, Ah, there's the rub, 223 00:15:46.279 --> 00:15:52.080 there's the tell, because he's been pushing the bitcoin ETF and people just scratching 224 00:15:52.080 --> 00:15:54.960 their heads, like what is he doing? In my opinion, I think 225 00:15:54.000 --> 00:16:00.120 the Bitcoin ETF or entities like Blackrock is a lifeline to a dying system. 226 00:16:00.639 --> 00:16:04.799 At least gives them some finite they can put their clients into that. But 227 00:16:04.879 --> 00:16:10.480 if they start putting their clients into physical gold, it does bankrupt the entire 228 00:16:10.519 --> 00:16:15.159 system a lot faster because people start to realize as physical gold demand goes up, 229 00:16:15.600 --> 00:16:19.200 the price goes up, it doesn't really go up when you put them 230 00:16:19.240 --> 00:16:22.600 into paper. It doesn't. I've not seen that. I only see the 231 00:16:22.639 --> 00:16:27.320 price rise. Really when I see central bank demand and I see these reports 232 00:16:27.320 --> 00:16:30.759 coming out of people, you know, the average person like China, they're 233 00:16:30.759 --> 00:16:34.679 buying gold beans just like a bean about the size of a coffee bean, 234 00:16:34.960 --> 00:16:37.759 in gold, just as much as they can. It's not even coined, 235 00:16:37.799 --> 00:16:41.840 it's not even put into bars. People are hoarding it. And I think 236 00:16:42.279 --> 00:16:45.960 I've talked about this before, but China has like sixty thousand gold mines, 237 00:16:47.480 --> 00:16:52.240 and they don't they're not a net exporter. So and China and Russia they're 238 00:16:52.320 --> 00:16:56.120 talking right now about a new financial system. The bricks want to back a 239 00:16:56.120 --> 00:17:03.480 new system with gold, a digital system. Zimbabwe, David, remember Zimbabwe 240 00:17:03.840 --> 00:17:08.279 that had the trillion dollar notes. They've they've got a new gold back currency 241 00:17:08.359 --> 00:17:15.799 that's emerging. So the monetary system around the world is going through a transformation. 242 00:17:15.359 --> 00:17:18.440 And as you notice the central banks buying gold, and what you have 243 00:17:18.519 --> 00:17:23.759 to watch is at while they're buying gold, they're also putting together the plans 244 00:17:23.759 --> 00:17:30.400 for the rollouts of their own central bank digital currencies. That's the danger they're 245 00:17:30.400 --> 00:17:33.480 going to build. They're going to build this control They are building this control 246 00:17:33.519 --> 00:17:36.200 grid for all of us. It's going to lead back to the Bank of 247 00:17:36.240 --> 00:17:40.279 International Settlements and the IMF and other things. They're going to consolidate these clearing 248 00:17:40.319 --> 00:17:45.039 houses. We have to watch that here. We have to continue pushing decentralization, 249 00:17:45.279 --> 00:17:49.000 supporting states that want to have their own billion banks, supporting free markets. 250 00:17:49.039 --> 00:17:53.279 And you know, there's a lot of argument about what's happening with the 251 00:17:53.319 --> 00:17:56.200 bitcoin ETFs, and I think you and I will continue to talk about that 252 00:17:56.240 --> 00:18:02.720 every week because it's really interesting and bitcoins solver seventy today, but bitcoin really 253 00:18:02.799 --> 00:18:04.680 drives the argument. It's like, why why are people buying it when they 254 00:18:04.720 --> 00:18:07.839 find out, oh, you can't make any more of them, and that 255 00:18:07.880 --> 00:18:12.200 becomes an that becomes a conversation conversation starter, especially when we're given you know 256 00:18:12.279 --> 00:18:17.960 what, how many dollars are there more? There's just more, always just 257 00:18:18.000 --> 00:18:19.079 a little bit more, as they say, it's a little bit more. 258 00:18:19.200 --> 00:18:22.000 Well, and that's the thing you know about big kind. If you want 259 00:18:22.039 --> 00:18:23.400 to buy bitcoin, get bitcoin, But why would you get an ETF. 260 00:18:23.440 --> 00:18:26.799 You know, whenever I look at these ETF things, based on the experiences 261 00:18:26.799 --> 00:18:32.200 that we've had with derivatives, with these the real estate derivatives that they did, 262 00:18:32.240 --> 00:18:33.799 you know, I mean, there's nothing. They're not making any more 263 00:18:33.880 --> 00:18:37.279 land, you know, as they always pointed out, and these were real 264 00:18:37.319 --> 00:18:40.640 physical assets and all the rest of the stuff. But they crashed it with 265 00:18:40.759 --> 00:18:44.759 an ETF, you know, they essentially with derivatives that they were putting through. 266 00:18:45.240 --> 00:18:47.440 To me, I look at this and you understand there's a couple of 267 00:18:47.440 --> 00:18:51.680 different things going on. I think when they create these these derivatives, these 268 00:18:51.720 --> 00:18:53.880 ETFs, of course they're going to make a lot of money off of it. 269 00:18:53.920 --> 00:18:56.440 They've got a way that they can make money off of that. But 270 00:18:56.480 --> 00:19:00.759 I think they typically do that and they usually wind up up crashing the market, 271 00:19:00.799 --> 00:19:03.720 no matter how solid or real it is, just like they did with 272 00:19:03.799 --> 00:19:07.880 real estate. So you believe in bitcoin, you want to get into bitcoin, 273 00:19:07.440 --> 00:19:11.680 still be careful these ETF things. I wouldn't want to own them, 274 00:19:11.680 --> 00:19:15.920 but it would make me scared. It does make me afraid, you know, 275 00:19:15.000 --> 00:19:18.079 even for bitcoin thing, because how they're going to manipulate that. They're 276 00:19:18.079 --> 00:19:22.640 going to get people into the bitcoin thing and then crash it and then try 277 00:19:22.640 --> 00:19:26.079 to push them into CBDC. We know they want to crash the financial system 278 00:19:26.119 --> 00:19:29.960 so they can establish this new system. And so that's another thing that makes 279 00:19:30.000 --> 00:19:33.000 me suspicious about why they would do these ETFs. So I'm very suspicious of 280 00:19:33.359 --> 00:19:37.880 both, you know, the ETFs for paper and silver and also for bitcoin. 281 00:19:37.960 --> 00:19:40.880 I think, you know, if you want to get something, get 282 00:19:40.880 --> 00:19:45.599 the real thing, don't get this, don't buy the phony stuff from Jamie 283 00:19:45.599 --> 00:19:49.359 demon or JP Morgan or any of these people. I'm with you on that, 284 00:19:49.839 --> 00:19:52.599 and I've been in bitcoin since twenty sixteen. I had some of the 285 00:19:52.640 --> 00:19:57.480 first Bitcoin ATMs, and we've discussed many times. But I'm skeptical of the 286 00:19:57.519 --> 00:20:02.480 ETF side, and I like the coin. I'm not I'm not I'm not 287 00:20:02.519 --> 00:20:04.359 saying it's going to zero. I'm not Peter Schiff. I don't think it's 288 00:20:04.400 --> 00:20:07.359 a I don't think it's a bad thing to own it. Don't. In 289 00:20:07.400 --> 00:20:11.680 my you shouldn't own the ETF because the bitcoin is just easy to get by 290 00:20:11.720 --> 00:20:15.240 itself, and you should have your own wallet, your own keys, and 291 00:20:15.359 --> 00:20:18.920 understand what that means. I mean, really knowledge in the in the coming 292 00:20:18.000 --> 00:20:21.839 years, the most important thing. Somebody asks me other day, what what's 293 00:20:21.880 --> 00:20:23.359 the most important thing? You know, what kind of equity? I said, 294 00:20:23.440 --> 00:20:29.519 knowledge knowing how to use something. And go back to the third counterparty 295 00:20:29.599 --> 00:20:33.039 risk, you know, if I have a gold coin in my hand right 296 00:20:33.079 --> 00:20:36.400 now. That's mine. Does I don't have to worry about a bank. 297 00:20:36.440 --> 00:20:41.039 I don't have to worry about an institution or a CEO or or or embezzlement 298 00:20:41.119 --> 00:20:44.400 or anything like that or fraud. I've got it in my hand, and 299 00:20:44.400 --> 00:20:47.160 if I bought it from a reputable dealer, then I've got value. And 300 00:20:47.200 --> 00:20:51.519 that's gold has been money and solver has been money for thousands of years, 301 00:20:51.519 --> 00:20:53.640 and it will continue to have value as long as I think as their civilization. 302 00:20:55.359 --> 00:20:59.680 You know, I've I've bought some coins from the Roman era and and 303 00:21:00.079 --> 00:21:03.519 them here at the shop. They're valuable because there's gold in them. Some 304 00:21:03.559 --> 00:21:06.279 of the ones that are debased, the old Roman coins have a little bit 305 00:21:06.279 --> 00:21:10.440 of value, but not much. It's the metal that made them valuable through 306 00:21:10.559 --> 00:21:14.640 throughout the years. You can still use them as money. So I like 307 00:21:14.720 --> 00:21:18.400 in the coming years, I think it's going to be more important for cut 308 00:21:18.440 --> 00:21:21.839 out the middleman. You don't need ETFs, you don't need an institution, 309 00:21:22.240 --> 00:21:25.440 learn how to own things yourself. And that's one of the reasons I'm in 310 00:21:25.480 --> 00:21:30.319 the physical precious metals business, and we have things like the membership program, 311 00:21:30.319 --> 00:21:32.960 like a wolf pack, or even if you don't have a lot of money 312 00:21:33.480 --> 00:21:34.880 and you've got you just got a little bit, you want to put some 313 00:21:34.920 --> 00:21:38.279 savings in, let let us do it. Let my team go find value 314 00:21:38.359 --> 00:21:42.480 for you with even if as little as fifty dollars. Yeah, that's why. 315 00:21:42.519 --> 00:21:47.400 You know, earlier this week I talked about, you know, what's 316 00:21:47.759 --> 00:21:52.119 happened in recent history with the brettwords two and on and what is happening with 317 00:21:52.160 --> 00:21:56.599 that. But when you look at these today, the articles that I kind 318 00:21:56.599 --> 00:22:02.680 of focused on were things from USA's Institute and other people. We're talking about 319 00:22:02.680 --> 00:22:06.039 the economics of inflation, because that's not going to go away. You know. 320 00:22:06.119 --> 00:22:08.440 We talk about how you got paper, gold, paper, silver, 321 00:22:08.599 --> 00:22:14.079 paper, bitcoin and all the rest of stuff. Well there's still the paper 322 00:22:14.160 --> 00:22:18.440 dollar, which is the worst of these derivatives, the most easily manipulated, 323 00:22:18.519 --> 00:22:21.079 because they're printing more of it all the time, as you point out, 324 00:22:21.160 --> 00:22:22.559 you know, people look at bitcoin and say, well, they're not making 325 00:22:22.599 --> 00:22:27.480 any more of this or it's getting more scarce. So that's where we want 326 00:22:27.480 --> 00:22:33.440 to be because that's you know, it's the printing what they called quantitative easing. 327 00:22:33.519 --> 00:22:36.559 It's the manipulation of the interest rates. They have so many different ways 328 00:22:36.880 --> 00:22:41.359 that they can manipulate the value of the paper dollar. That's just not a 329 00:22:41.400 --> 00:22:45.079 store of value at all. And then, of course, besides the way 330 00:22:45.160 --> 00:22:49.759 their direct manipulation, we've seen it many times in our lifetime get out of 331 00:22:49.799 --> 00:22:53.440 hand. And we're at one of those moments right now where these guys who 332 00:22:53.440 --> 00:22:59.680 are pulling the levers, you know, the guy behind the man behind the 333 00:22:59.720 --> 00:23:02.160 curtain, like the Wizard of Oz, once he gets into that balloon, 334 00:23:03.039 --> 00:23:04.240 it's like, come back. I don't know. I don't know how it 335 00:23:04.319 --> 00:23:07.480 works, you know. Once he inflates that balloon, he's just heading off. 336 00:23:07.720 --> 00:23:11.839 And we've seen that happen with the Federal Reserve wizards many times, haven't 337 00:23:11.880 --> 00:23:14.559 we. They don't know how it works. They can't come back to where 338 00:23:14.599 --> 00:23:18.559 they were. Well no, and that's all Fiat currencies go to zero. 339 00:23:18.759 --> 00:23:22.720 So they're just playing a game in the intern, you know. And I 340 00:23:22.759 --> 00:23:26.039 think that the dollars going to digital, that's their plan. I think all 341 00:23:26.079 --> 00:23:29.519 these plans have been accelerated. I don't think that we're supposed to be seeing 342 00:23:29.599 --> 00:23:33.599 right now the swift decline that there is. But you know, even go 343 00:23:33.680 --> 00:23:37.680 back to the allegory of the Wizard of Oz. This is l Frank Baum 344 00:23:37.720 --> 00:23:42.400 wrote that in the late nineteenth century, that was the cowardly lying was William 345 00:23:42.480 --> 00:23:47.240 Jennings Bryan, you know the Cross of Gold speech. And what was William 346 00:23:47.319 --> 00:23:49.519 Jennings Bryan talking about. He talking about free silver because we had such a 347 00:23:49.559 --> 00:23:53.279 strong currency. The farmers wanted some relief and they hit the comstock load we 348 00:23:53.359 --> 00:23:57.720 had in the eighteen seventies out in Nevada, and they wanted to release that 349 00:23:57.799 --> 00:24:03.119 silver into the market to help ease the debts, to increase the money supply. 350 00:24:03.240 --> 00:24:04.680 Now it wasn't fake. They didn't want to dump fake money into it. 351 00:24:04.680 --> 00:24:07.359 They wanted to dump silver in there to give the and that was a 352 00:24:07.400 --> 00:24:11.519 populous move to give the farmer some relief. I think there's going to be 353 00:24:11.519 --> 00:24:15.039 an argument for that. But the you know, the banksters ran with that, 354 00:24:15.200 --> 00:24:18.440 and and of course you ended up getting the Federal Reserve because they kept 355 00:24:18.440 --> 00:24:22.720 pushing that is a way to help h you know, stave off crashes and 356 00:24:22.759 --> 00:24:25.440 things like that. But that's where all of that. The the yellow Brick 357 00:24:25.559 --> 00:24:27.799 Road, uh, the Emerald Palace is the green Back you know, all 358 00:24:27.880 --> 00:24:32.079 that stuff on the Wizard of oz and it is it's it's it's wizardry. 359 00:24:32.640 --> 00:24:37.119 It's a it's an economic alchemy, and and you know that's a it's really 360 00:24:37.680 --> 00:24:40.920 it's really insane to watch, David. I got into this business years ago. 361 00:24:41.319 --> 00:24:45.200 Uh and every year, every now, every month, and we're seeing 362 00:24:45.240 --> 00:24:48.160 some change in this in the monetary system, in the market. And you 363 00:24:48.200 --> 00:24:52.480 know, we were talking about a couple of weeks ago and I still can't 364 00:24:52.480 --> 00:24:53.519 get over it. You know, it took us from the founding of our 365 00:24:53.559 --> 00:24:57.759 country to the time I was born to go with trillion dollars into debt, 366 00:24:59.279 --> 00:25:02.839 and now we do it every ninety days. Yeah, yeah, I mean, 367 00:25:02.920 --> 00:25:04.880 just let that sink in. Once you let that sink in, you 368 00:25:04.960 --> 00:25:10.519 realize we've passed some sort of boundary where we're never going to be. I 369 00:25:10.519 --> 00:25:14.160 mean, we're not even talking about fiscal responsibility or anymore. Nobody's running on 370 00:25:14.200 --> 00:25:17.839 that politically. So I think we've we've crossed some sort of boundary. So 371 00:25:17.880 --> 00:25:22.079 it's time to start thinking about how do you how do you thrive and survive? 372 00:25:22.160 --> 00:25:25.880 How do you weather the storm of what's coming? It doesn't matter you 373 00:25:25.920 --> 00:25:27.920 and I can't stop it, you know, whatever it's, whatever's down the 374 00:25:27.960 --> 00:25:33.160 road. All we can do is prepare and try to use history as our 375 00:25:33.160 --> 00:25:36.599 guide. You know, what was the what happens in times of hyperinflation, 376 00:25:36.640 --> 00:25:41.160 and what happens in times of economic uncertainty or currency shifts. You know, 377 00:25:41.200 --> 00:25:45.240 you don't want to get left holding the bag. I saw that in Iraq, 378 00:25:45.359 --> 00:25:48.160 and that was a microcosm of those things. But I watched the currency 379 00:25:48.200 --> 00:25:51.440 go to zero in real time. Nobody wanted to pay. People running out 380 00:25:51.440 --> 00:25:56.160 of the banks with boxes of Raqi dinar that no one wanted. Yeah, 381 00:25:56.440 --> 00:26:00.000 think about that money that no one wants. Wow. Well, yeah, 382 00:26:00.000 --> 00:26:06.079 we're definitely not in Kansas anymore. We're in Davos or something, or Bagdad 383 00:26:06.160 --> 00:26:08.640 or something like that. I mean, we're in some alien at territory. 384 00:26:08.640 --> 00:26:11.599 That's why, you know, grab something that's real, that's held its value 385 00:26:11.640 --> 00:26:15.240 for a very long time. And of course, as I you know, 386 00:26:15.279 --> 00:26:21.319 we talk about it. You can handle transactions there at wise wolf and you've 387 00:26:21.359 --> 00:26:23.799 got the Buyer's club there wolf Pack. Anything new with wolf Pack that you 388 00:26:23.839 --> 00:26:30.000 want to talk about, well, we've got a new special seventeen seventy six. 389 00:26:30.799 --> 00:26:33.079 If you type in promo code seventeen seventy six year to David night dot 390 00:26:33.119 --> 00:26:37.519 Gold. I've got some free silver, So talk about William Jennings Bry I've 391 00:26:37.519 --> 00:26:38.960 got free silver. Go to wolf Pack. We'll give you free silver. 392 00:26:40.599 --> 00:26:42.759 We'll put some silver in the package for you. If you upgrade or if 393 00:26:42.799 --> 00:26:45.599 you join, we'd love to have you. There's more people that join. 394 00:26:45.680 --> 00:26:49.400 I think it's all. We're right out of almost a thousand, and I 395 00:26:49.400 --> 00:26:52.440 want to celebrate when we hit a thousand. It's been a lot of work. 396 00:26:52.440 --> 00:26:56.160 I got a great team here. We're always packing, packing new packages 397 00:26:56.240 --> 00:27:03.440 and tracking things that I know why the big guys do do this now I'm 398 00:27:03.480 --> 00:27:07.160 happy to have done it. It's really it's what sets us apart because we 399 00:27:07.240 --> 00:27:11.079 care about We flipped everything on its head. We're not just chasing people that 400 00:27:11.200 --> 00:27:15.200 have a large savings account or a retirement account. We're talking to everybody, 401 00:27:15.519 --> 00:27:21.519 and everybody deserves to be able to have real precious medals. They can trade 402 00:27:21.559 --> 00:27:25.000 their fake currency and for real money, and we do that here at wolf 403 00:27:25.000 --> 00:27:27.599 Pack. So yeah, promo code seventeen seventy six. I'd also like to 404 00:27:27.599 --> 00:27:30.559 say too, David. With the markets the way they are, we are 405 00:27:32.079 --> 00:27:37.319 pretty much seamless now on being able to any kind of IRA four one k. 406 00:27:37.440 --> 00:27:40.519 If you've got it in the paper markets and you're interested, you should 407 00:27:40.519 --> 00:27:42.960 reach out go to David nightdalg Oh, let us know if we can walk 408 00:27:44.000 --> 00:27:48.240 you through what that process would look like turning into physical precious metals. We 409 00:27:48.279 --> 00:27:52.039 can do that without penalties and all that. We just use our partner company, 410 00:27:52.079 --> 00:27:55.279 New Direction Trust and even if you can't do a wolf pack or you 411 00:27:55.319 --> 00:27:59.359 don't want to do it monthly, we have one time orders and nothing's too 412 00:27:59.359 --> 00:28:03.079 small. That's what that's what wise Wolf's here for. And we've got a 413 00:28:03.119 --> 00:28:06.880 great supply line, we've got a good team and we're just we're still happy 414 00:28:06.920 --> 00:28:10.359 to am proud to sponsor your program. Well, thank you, and of 415 00:28:10.400 --> 00:28:15.359 course you know taxes are coming up April fifteenth. If you haven't put money 416 00:28:15.359 --> 00:28:18.279 into your IRA, you've got just a couple of days to do it. 417 00:28:18.440 --> 00:28:22.559 And you know you might want to do something with some kind of precious metals 418 00:28:22.559 --> 00:28:27.279 IRA through a new dimension that works with you. There at Wisewolf Gold dot 419 00:28:27.319 --> 00:28:30.440 gold and people can get there by David Knight dot Gold. Always great talking 420 00:28:30.480 --> 00:28:36.359 to you, Tony. We're in really interesting times and and I know it 421 00:28:36.400 --> 00:28:40.640 gets really difficult for you. As everybody sees the price going up, that 422 00:28:40.759 --> 00:28:45.519 gets their attention and and everybody starts investing in it fear of missing out. 423 00:28:47.160 --> 00:28:49.839 But I don't think that people have missed out at this point. Neither do 424 00:28:51.000 --> 00:28:56.119 the people who are writing about the from it from a financial and economic standpoint. 425 00:28:56.200 --> 00:29:00.880 They think there's a lot left and this because they're going to continue to 426 00:29:00.920 --> 00:29:06.119 try to feed the inflation beast for this election at the very least. And 427 00:29:06.160 --> 00:29:08.759 that's assuming that they know how this balloon they inflate it actually works and they 428 00:29:08.799 --> 00:29:15.359 can control it. I don't think they can't. Let's get away far too 429 00:29:15.440 --> 00:29:18.359 many times. That's one of the best analogies I think out of the Wizard 430 00:29:18.400 --> 00:29:21.319 of Oz. Thank you so much for joining us again, David Night. 431 00:29:21.359 --> 00:29:23.960 Digol will take you Tony at wisewolf goal. Thank you, Tony, Appreciate 432 00:29:25.119 --> 00:29:41.519 you. David. The David Knight Show is a critical thinking super spreader. 433 00:29:41.440 --> 00:29:48.759 If you've been exposed to logic by listening to The David Knight Show, please 434 00:29:49.559 --> 00:29:56.839 do your part and try not to spread it. Financial support or simply tell 435 00:29:56.880 --> 00:30:06.519 the others about the show causes this dangerous information to spread. Father people have 436 00:30:06.720 --> 00:30:12.960 to trust me, I mean trust the science. Wear you mask, take 437 00:30:14.039 --> 00:30:25.400 your vaccine, don't ask questions using free speech to free minds. It's The 438 00:30:25.720 --> 00:30:26.359 David Knight Show.