Joining us now is Tony Ardaban of Why is Wolf Gold, and Tony has
set up David Knight dot Gold which would take you there and let him know
that you're coming through us. Always good to have Tony, and he has
been incredibly busy the last couple of weeks because of what is happening in the
gold market. I've talked a little bit about this, how it is really
shot up. It's like a nineteen percent if I remember over the last month
or something like that, but a tremendous jump and the price of gold.
Thanks for joining us, Tony, Well, thanks for having me, David.
That's good to see you. Good to see you. The price of
gold that keeps hitting it's all time high. It's hitting it so often I'm
not even keeping up with it anymore. I think it's hit it's all time
high like four times in the last thirty days. That's right. Yeah,
you look at it. It's like is this a new article or what is
this? And so much so that the Mesa's Institute is asking, so is
gold over priced or can its price go even higher? And I thought that
was interesting because you know, the Mesa's Institute is a financial think tank,
economic think tank looking at the writings and of course, you know, just
a general free market libertarian perspective of Lugwig von Mises, and they're not selling
gold, but they're looking at this stuff and they thought, well, you
know, it expensive compared to what was there question. Well, that's right.
I mean, what you're actually watching is not goal reaching it's all time
high. It's the dollar reaching it's all time low. It's an inversion.
Yeah, because as you know, if you go back to our original system
here in the United States, the bimetallic system, there was no inflation in
the nineteenth century, so a pair of a pair of shoes in eighteen hundred
would cost you the same in nineteen hundred. There was no inflation because we
had a gold standard and we had a silver dollar. And of course that
changed it pretty much in nineteen thirty three, when Franklin Roosevelt is its executive
order for you to turn the gold in. He raised the price of gold
of thirty five dollars an ounce once all the Americans that complied. There's a
lot of Americans that didn't comply, David, because I buy those coins all
the time, those pre nineteen thirty three American coins but they raised the price
of gold to thirty five dollars announce. That was a banker's ploy to shift
the gold away from the United States to the Bank of International Settlements. You
can go back and read the history. But again, after nineteen forty four,
Breton woods thirty five dollars an ounce and it stayed that way until nineteen
seventy one. And then Richard Nixon because of all the the basement of our
currency that the country's other countries noticed, we took the silver out of our
coinage, that we were writing checks beyond our capacity for guns and butter and
Vietnam and the Great Society on the Mekong, like LBJ said, And so
Richard Dixon knew that we couldn't continue to keep the gold window open, and
they went off the gold standard. In August fifteenth, nineteen seventy one,
gold went up two thousand percent. But that doesn't mean that gold went up.
It just means that we have a revaluation of fiat currency. And now
every country on Earth has a fiat currency. They all followed the United States
after nineteen seventy one. The United States now has the oldest surviving fiat currency
in the world. The average life spans about twenty six years, so we
doubled that. And so I think you're just going to continue to see these
price ships because of the bricks nations primarily, and honestly, David, I
don't think we would see these prices in gold this fast the way it's doing
without the war in Ukraine, with sanctions that were placed on Russia after NATO
provoked. In my opinion, NATO wanted that incursion, but they put the
sanction. We put the sanctions on Russia, and the Russian finance minister months
later said well dollars or candy wrappers, dous and got off of the system.
Other countries took notice. We have forty different sanctions on thirty six different
countries weaponized the dollar. You're watching really is not so much that gold is
having its moment. It's that the dollar is losing ground, losing ground rapidly.
The world is taking notice. They want a revaluation of commodities. That's
what Brazil, Rushing, India, China, South Africa, now Saudi Arabia
are all about that. The reevaluation, in my opinion, of all commodities.
And I was looking just before we went live, other countries like India,
record numbers of silver being record numbers of gold in China. China had
a major etf had to stop trading because people were buying so much paper stock
gold there wasn't enough gold to back it up. At least That's what I'm
looking at. And this is going to be a problem I think in the
West too. We're just at the beginning of this. If you think you
missed the boat on gold and precious metals, especially with silver still being under
thirty dollars an ounce, you are mistaken because there's a lot of room left
here. But it's not looking good for King dollar. And of course I
talked about this earlier in the week and they were saying they talked about the
inverse relationship between the Federal Reserve Fiat currency and gold and how you know one
would they go up and down in an inverse relationship with each other. And
they said, so always these Western institutions, under certain circumstances, they would
start selling their gold and you know, the East would buy it up and
that type of thing. But that all got broken, they said, is
with these sanctions and other things that are happening. It also got broken with
this ETF stuff that is out there, because they have used that to essentially
create a fiat gold system that has gotten so out of whack that they can't
even make a credible case for it. As you pointed out, they had
to suspend suspend trading on it. But as Forbes looked at it, it
was tremendously I forget what the ratio was, I'll look it up here as
we're talking, but the ratio that was there was absurd. And they said,
well, that's then a conservative one. A lot of people estimate that
the ratio of ETFs that are out there trading about gold are much much higher
than the actual physical goal that's there. But they were saying a lot of
the same things that you've said in the past. Where what was interesting earlier
in this year was the fact that the Federal Reserve was making these different moves,
like you know, hiking the interest rate up and things like that that
normally would cause gold to go down, and it was holding its own.
And they said, that's because everybody has lost so much faith in the dollar
that they are still accumulating the gold. And you know, as the institutions
want to sell off their gold, there's still more demand keeping the price high.
And so I think that's really what the Mesa's Institute was talking about.
They said, you know, if you are we late on all of this
in terms of getting into gold, well not unless you think that they've somehow
figured out what they're going to do with the fiat currency and if they can
somehow fix this stagflation or this dragflation Silinty calls you know, like a recession.
I just stagnant, but a real recession along with inflation. If you
think they've got that solved, then yeah, you'd be late. But they've
got some so many built in problems and things have shifted underneath them that a
lot of people are saying this is just the beginning. And so that's that's
where you've been, I guess, just kind of run around trying to keep
track of demand in orders. Well. Absolutely, and the rules of the
game are changing. I mean Jerome Palace at first said that inflation was transitory,
along with Jennet Yellen. This was all transitory and nothing to worry about,
nothing to see here. And then they became very hawkish and they're going
to whip inflation, no problem, We got this, and they raised rates
faster than any time in history. To Kurt tell that inflation. Then they
felt like they're really confident this last six months or so, we're going to
talk about lowering rates because the economy could sure use a goose before the for
the election. Not that they're political or anything, David, the Federal Reserve's
way above that. They're not. They're not playing politics, are not going
to intervene. But they got a problem because the latest data that's out,
inflation continues, the economy's roaring along, Inflation continues, and what are they
going to do. They've promised these rate lowerings. The European Central Bank has
just backed off of a rate lowering, so they're going to hold rates.
So we're not going to see I don't think we're going to see any rate
lowering for a minute or two. It may be going too right before the
election. They're going to do it this year. They I think they've promised
too much. There's too much built into the system. It's all rigged.
As you know, this isn't your father's stock market of Wall Street's not based
on profit anymore. It's based on environmental, social governance and your relationsship to
this central bank it's not really entrepreneurship anymore. So I think you're going to
see some intervention. There'll be some rate lowerings, but it's hard to do
that in the face of the data that's coming out, and a lot of
this has to do with the energy sector. As a matter of fact,
the White House is not going to be buying back food off the open market
to replace the strategic petroleum reserve. Yeah, that's insane. I mean,
we're not replacing our strategic petroleum reserve in the face of all this geopolitical upheaval.
Honestly, I think this is them not wanting to drive the market up
or do something to increase the price, because that's where you're seeing inflation.
It's in the items that people need. He's he sold off the strategic petroleum
reserve to lower the price before the election. Not even Obama did that.
Always in the past, they would hold that until there was a storm that
came through and took refineries offline and Louisiana or something like that, some kind
of real disaster, that's what they would use it for. Biden used it
to make himself look good to temporary lower, temporarily lower the price of gas
and of course, if he goes out there and replaces it at this point
in time, that is going to mitigate against reducing the price of gas,
because he's going to be you know, out there buying stuff, so it'll
bid the price up. So the only thing he can do now is just
to set it out and not refill that. It's really it shows how he
has absolutely no interest in what is good for this country. It's all about
his own personal political gain and in that regards, just like Trump, it's
almost like it's a plan, David, like a controlled demolition. Yeah,
like the calls are coming from inside the house. I mean, all these
these decisions that are made are not strengthening our economy, They're not strengthening our
readiness as far as national security. Obviously, this is all part of a
plan. It's an inside job. And you see this, this is the
consequences you want. You want to intervene unnaturally in the market. You want
to release food from the strategic petroleum reserved to lower the price temporarily. Well,
guess what if the price goes back up and you have to replace that
when you buy it again, it drives the price up, So your intervention
backfired on you again, it's the same thing with these You know, can
you imagine going back in one hundred years and saying, well, I don't
know what's going to happen to the economy. The Federal Reserve hasn't told me
what to do yet. I mean, nobody, nobody was looking to the
Fed to figure out what's the next move, what should I do, what
should I invest in? This has become so ubiquitous. It's just it's permeated
all of our culture what the Federal Reserve is doing. And frankly, what
they're doing is they're ruining our currency faster than really I think is natural.
I mean, I think we had a little bit more time left on the
dollar, honestly, but just the amount of eubris and the sanctions that are
placed, I think everything's accelerating. And the teleprompter reader hairdo people on these
financial networks, they just don't get it, David. They keep saying,
well, gold is up, and that's crazy. It keeps going. Gold
is way up, and they keep looking at the price, and I wonder
why that is. I well, you know, there's inflation data is not
that bad, and I mean they keep going. But again, it's the
central banks around the world buying gold, and as you mentioned earlier, these
ETFs and this paper gold that's out there all around the world, you can't
really back that up. I don't have any faith in that. It's kind
of like the silver market. I know because of the data, and I've
interviewed the experts. You if you had a whale come in, it's like
an Elon Musk or some big buyer, you could corner the silver market right
now, just like the Hunts did in the nineteen seventies. But see,
the deep State got rid of the Hunts. They made sure that nobody exposed
that because what you're exposing if you can corner monetary metal and get the physical
supply, is you show that the currency that it's shown in value of is
actually fake. And that's what the Hunts did in the nineteen seventies. Nineteen
eighty fifty two dollars and fifty cents an ounce for silver. That's crazy if
you think about what fifty two dollars and fifty cents an hours would do now
for your purchase seeing power in nineteen eighty terms, that's like three hundred dollars
today. So I don't have any faith in these these markets. I think
that supplies a lot thinner than people realize, and that's what's really driving the
price. When people are demanding physical gold, especially places like India and China,
it's driving the price, David, and it will come here. Costco
is selling gold bars, and we talked about this before. We've seen this
phenomenon where they'll they'll list the price and I think they're like fifty bucks over
spot or something like that, and then they'll sell out and then you can't
get them. We have supply, but I would say that it is thinner
than you think that it is, and I'm not going to over promise,
and so I can get any variety of anything, because I really would watch
that is people start to wake up and demand precious metals. This price that
we're looking at now is going to be it's gonna be quaint, that's right.
And you know you've got we're talking about the paper gold thing. A
lot of people who look at this and say, well, I don't like
the dollar, we need to go with gold. They'll go with the paper
gold and they don't realize that's one of this art article that I was talking
about the other day gave the figures that Forbes came up with, and Forbes
said, well, according to our calculations, there's about two hundred to three
hundred trillion dollars worth of paper gold out there, but there's only eleven trillion
dollars worth of gold. So in other words, they're selling twenty to thirty
times the amount of paper ETFs. We're going to give you a share of
the goal. They're selling twenty to thirty times what they actually have. And
they said, we think that that's very conservative. That it's actually much worse
than that. And as you point out earlier, China had to suspend trading
because there was so much demand that it was getting out to a level that
nobody would believe. I mean, if people will believe that there's twenty to
thirty times the paper gold out there, that there is physical gold known,
physical gold reserves, you know, they're not going to believe it. If
at some point, if it gets up to fifty or sixty or one hundred
times or something, at that point it becomes unbelievable and the bubble burst.
But that reckon, that realization is going to come around at some point and
there will be a reckoning, and so all the people who are interested in
collecting gold are saying, well, I want the real thing instead of paper.
That's when another type of gold rush will happen, because that's another competition
to physical gold, that paper gold. I like what Larry Fink, the
head of Black Rocks, said a couple of weeks ago about people in countries
like India and China and emerging markets. He said, you're not helping when
you're buying gold. You're not helping anything. You're not helping the market.
It doesn't do anything. And I thought, Ah, there's the rub,
there's the tell, because he's been pushing the bitcoin ETF and people just scratching
their heads, like what is he doing? In my opinion, I think
the Bitcoin ETF or entities like Blackrock is a lifeline to a dying system.
At least gives them some finite they can put their clients into that. But
if they start putting their clients into physical gold, it does bankrupt the entire
system a lot faster because people start to realize as physical gold demand goes up,
the price goes up, it doesn't really go up when you put them
into paper. It doesn't. I've not seen that. I only see the
price rise. Really when I see central bank demand and I see these reports
coming out of people, you know, the average person like China, they're
buying gold beans just like a bean about the size of a coffee bean,
in gold, just as much as they can. It's not even coined,
it's not even put into bars. People are hoarding it. And I think
I've talked about this before, but China has like sixty thousand gold mines,
and they don't they're not a net exporter. So and China and Russia they're
talking right now about a new financial system. The bricks want to back a
new system with gold, a digital system. Zimbabwe, David, remember Zimbabwe
that had the trillion dollar notes. They've they've got a new gold back currency
that's emerging. So the monetary system around the world is going through a transformation.
And as you notice the central banks buying gold, and what you have
to watch is at while they're buying gold, they're also putting together the plans
for the rollouts of their own central bank digital currencies. That's the danger they're
going to build. They're going to build this control They are building this control
grid for all of us. It's going to lead back to the Bank of
International Settlements and the IMF and other things. They're going to consolidate these clearing
houses. We have to watch that here. We have to continue pushing decentralization,
supporting states that want to have their own billion banks, supporting free markets.
And you know, there's a lot of argument about what's happening with the
bitcoin ETFs, and I think you and I will continue to talk about that
every week because it's really interesting and bitcoins solver seventy today, but bitcoin really
drives the argument. It's like, why why are people buying it when they
find out, oh, you can't make any more of them, and that
becomes an that becomes a conversation conversation starter, especially when we're given you know
what, how many dollars are there more? There's just more, always just
a little bit more, as they say, it's a little bit more.
Well, and that's the thing you know about big kind. If you want
to buy bitcoin, get bitcoin, But why would you get an ETF.
You know, whenever I look at these ETF things, based on the experiences
that we've had with derivatives, with these the real estate derivatives that they did,
you know, I mean, there's nothing. They're not making any more
land, you know, as they always pointed out, and these were real
physical assets and all the rest of the stuff. But they crashed it with
an ETF, you know, they essentially with derivatives that they were putting through.
To me, I look at this and you understand there's a couple of
different things going on. I think when they create these these derivatives, these
ETFs, of course they're going to make a lot of money off of it.
They've got a way that they can make money off of that. But
I think they typically do that and they usually wind up up crashing the market,
no matter how solid or real it is, just like they did with
real estate. So you believe in bitcoin, you want to get into bitcoin,
still be careful these ETF things. I wouldn't want to own them,
but it would make me scared. It does make me afraid, you know,
even for bitcoin thing, because how they're going to manipulate that. They're
going to get people into the bitcoin thing and then crash it and then try
to push them into CBDC. We know they want to crash the financial system
so they can establish this new system. And so that's another thing that makes
me suspicious about why they would do these ETFs. So I'm very suspicious of
both, you know, the ETFs for paper and silver and also for bitcoin.
I think, you know, if you want to get something, get
the real thing, don't get this, don't buy the phony stuff from Jamie
demon or JP Morgan or any of these people. I'm with you on that,
and I've been in bitcoin since twenty sixteen. I had some of the
first Bitcoin ATMs, and we've discussed many times. But I'm skeptical of the
ETF side, and I like the coin. I'm not I'm not I'm not
saying it's going to zero. I'm not Peter Schiff. I don't think it's
a I don't think it's a bad thing to own it. Don't. In
my you shouldn't own the ETF because the bitcoin is just easy to get by
itself, and you should have your own wallet, your own keys, and
understand what that means. I mean, really knowledge in the in the coming
years, the most important thing. Somebody asks me other day, what what's
the most important thing? You know, what kind of equity? I said,
knowledge knowing how to use something. And go back to the third counterparty
risk, you know, if I have a gold coin in my hand right
now. That's mine. Does I don't have to worry about a bank.
I don't have to worry about an institution or a CEO or or or embezzlement
or anything like that or fraud. I've got it in my hand, and
if I bought it from a reputable dealer, then I've got value. And
that's gold has been money and solver has been money for thousands of years,
and it will continue to have value as long as I think as their civilization.
You know, I've I've bought some coins from the Roman era and and
them here at the shop. They're valuable because there's gold in them. Some
of the ones that are debased, the old Roman coins have a little bit
of value, but not much. It's the metal that made them valuable through
throughout the years. You can still use them as money. So I like
in the coming years, I think it's going to be more important for cut
out the middleman. You don't need ETFs, you don't need an institution,
learn how to own things yourself. And that's one of the reasons I'm in
the physical precious metals business, and we have things like the membership program,
like a wolf pack, or even if you don't have a lot of money
and you've got you just got a little bit, you want to put some
savings in, let let us do it. Let my team go find value
for you with even if as little as fifty dollars. Yeah, that's why.
You know, earlier this week I talked about, you know, what's
happened in recent history with the brettwords two and on and what is happening with
that. But when you look at these today, the articles that I kind
of focused on were things from USA's Institute and other people. We're talking about
the economics of inflation, because that's not going to go away. You know.
We talk about how you got paper, gold, paper, silver,
paper, bitcoin and all the rest of stuff. Well there's still the paper
dollar, which is the worst of these derivatives, the most easily manipulated,
because they're printing more of it all the time, as you point out,
you know, people look at bitcoin and say, well, they're not making
any more of this or it's getting more scarce. So that's where we want
to be because that's you know, it's the printing what they called quantitative easing.
It's the manipulation of the interest rates. They have so many different ways
that they can manipulate the value of the paper dollar. That's just not a
store of value at all. And then, of course, besides the way
their direct manipulation, we've seen it many times in our lifetime get out of
hand. And we're at one of those moments right now where these guys who
are pulling the levers, you know, the guy behind the man behind the
curtain, like the Wizard of Oz, once he gets into that balloon,
it's like, come back. I don't know. I don't know how it
works, you know. Once he inflates that balloon, he's just heading off.
And we've seen that happen with the Federal Reserve wizards many times, haven't
we. They don't know how it works. They can't come back to where
they were. Well no, and that's all Fiat currencies go to zero.
So they're just playing a game in the intern, you know. And I
think that the dollars going to digital, that's their plan. I think all
these plans have been accelerated. I don't think that we're supposed to be seeing
right now the swift decline that there is. But you know, even go
back to the allegory of the Wizard of Oz. This is l Frank Baum
wrote that in the late nineteenth century, that was the cowardly lying was William
Jennings Bryan, you know the Cross of Gold speech. And what was William
Jennings Bryan talking about. He talking about free silver because we had such a
strong currency. The farmers wanted some relief and they hit the comstock load we
had in the eighteen seventies out in Nevada, and they wanted to release that
silver into the market to help ease the debts, to increase the money supply.
Now it wasn't fake. They didn't want to dump fake money into it.
They wanted to dump silver in there to give the and that was a
populous move to give the farmer some relief. I think there's going to be
an argument for that. But the you know, the banksters ran with that,
and and of course you ended up getting the Federal Reserve because they kept
pushing that is a way to help h you know, stave off crashes and
things like that. But that's where all of that. The the yellow Brick
Road, uh, the Emerald Palace is the green Back you know, all
that stuff on the Wizard of oz and it is it's it's it's wizardry.
It's a it's an economic alchemy, and and you know that's a it's really
it's really insane to watch, David. I got into this business years ago.
Uh and every year, every now, every month, and we're seeing
some change in this in the monetary system, in the market. And you
know, we were talking about a couple of weeks ago and I still can't
get over it. You know, it took us from the founding of our
country to the time I was born to go with trillion dollars into debt,
and now we do it every ninety days. Yeah, yeah, I mean,
just let that sink in. Once you let that sink in, you
realize we've passed some sort of boundary where we're never going to be. I
mean, we're not even talking about fiscal responsibility or anymore. Nobody's running on
that politically. So I think we've we've crossed some sort of boundary. So
it's time to start thinking about how do you how do you thrive and survive?
How do you weather the storm of what's coming? It doesn't matter you
and I can't stop it, you know, whatever it's, whatever's down the
road. All we can do is prepare and try to use history as our
guide. You know, what was the what happens in times of hyperinflation,
and what happens in times of economic uncertainty or currency shifts. You know,
you don't want to get left holding the bag. I saw that in Iraq,
and that was a microcosm of those things. But I watched the currency
go to zero in real time. Nobody wanted to pay. People running out
of the banks with boxes of Raqi dinar that no one wanted. Yeah,
think about that money that no one wants. Wow. Well, yeah,
we're definitely not in Kansas anymore. We're in Davos or something, or Bagdad
or something like that. I mean, we're in some alien at territory.
That's why, you know, grab something that's real, that's held its value
for a very long time. And of course, as I you know,
we talk about it. You can handle transactions there at wise wolf and you've
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I think it's all. We're right out of almost a thousand, and I
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to am proud to sponsor your program. Well, thank you, and of
course you know taxes are coming up April fifteenth. If you haven't put money
into your IRA, you've got just a couple of days to do it.
And you know you might want to do something with some kind of precious metals
IRA through a new dimension that works with you. There at Wisewolf Gold dot
gold and people can get there by David Knight dot Gold. Always great talking
to you, Tony. We're in really interesting times and and I know it
gets really difficult for you. As everybody sees the price going up, that
gets their attention and and everybody starts investing in it fear of missing out.
But I don't think that people have missed out at this point. Neither do
the people who are writing about the from it from a financial and economic standpoint.
They think there's a lot left and this because they're going to continue to
try to feed the inflation beast for this election at the very least. And
that's assuming that they know how this balloon they inflate it actually works and they
can control it. I don't think they can't. Let's get away far too
many times. That's one of the best analogies I think out of the Wizard
of Oz. Thank you so much for joining us again, David Night.
Digol will take you Tony at wisewolf goal. Thank you, Tony, Appreciate
you. David. The David Knight Show is a critical thinking super spreader.
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