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And so you know, when you
see this kind of sophistication, coordination,

2
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this kind of well, it should
be something that shouldn't be taken or shouldn't

3
00:00:09,199 --> 00:00:12,560
be underestimated, and it should be
taken very very seriously. So yeah,

4
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you know, I think it's just
beginning. But it's not just China.

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If you look at India, they
bought their reserve bank bought one and a

6
00:00:19,519 --> 00:00:22,920
half times the amount of gold they
bought all of last year, just in

7
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the first four months of this year. And following a theme that we continue

8
00:00:27,839 --> 00:00:32,240
to see across the globe, they
then repatriated one hundred metric tons from the

9
00:00:32,280 --> 00:00:36,200
Bank of England, which means they're
holding almost all of their gold right now.

10
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That gold has been there since nineteen
ninety one, much of it.

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They would leave gold these countries at
the Bank of England to trade on the

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00:00:43,399 --> 00:00:47,039
LBMA and at the New York Fed
to trade on the Colmax. Well,

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what did we just see? We
just saw what banks? Did we just

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00:00:50,960 --> 00:00:57,159
see pull their metal out of the
Colemax. You were listening to Carrie Letz's

15
00:00:57,159 --> 00:01:02,719
Financial Survival Network, where you get
valued information you just can't find anywhere else

16
00:01:03,280 --> 00:01:08,079
to thrive in today's trying times.
You need the Financial Survival Network now more

17
00:01:08,120 --> 00:01:14,280
than ever. Go to Financial Survivalnetwork
dot com and get your free newsletter and

18
00:01:14,359 --> 00:01:23,760
gift. Financial Survival Network now more
than ever. And welcome you are listening

19
00:01:23,760 --> 00:01:27,680
to and watching the Financial Survival Network. I'm your host, Carrie Lutz.

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With us is the esteemed Andy Sheckman. You know him well from Miles Franklin

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00:01:34,120 --> 00:01:38,000
dot com. One of the largest
bullion dealers in the country and in fact

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the only one that I personally trust, having gone back nearly fifteen years.

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And Andy, we used to say
when you buy the ship, you know,

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crazy things going out there, going
on out there. I mean gold

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hit twenty four fifty hold back ever
so slightly. As we're talking now in

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midje it's twenty three eighteen and change
for gold silver hovering just under thirty bucks

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again at twenty nine point forty.
What should you take from all that's going

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on? Now? You know,
it seems to me over the last several

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months carry and first of all,
it's good to be here and crazy how

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fast fifteen years flies by. I
guess as you get older, it just

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my dad always says, like a
roll of toilet paper, it spins faster

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and faster and faster. When you're
young, you don't notice the passage of

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time nor the depletion in the role. But as it starts to get closer,

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as you get older, you see
it spinning faster. You notice the

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cardboard a little sooner. But anyways, it's good to be back. Yeah.

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It's like the gold and silver markets
almost seem to be playing by a

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new set of rules, and things
seem to be very different. There's certainly

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a battle being waged between you know, the cartel bullion banks who are wickedly

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short, and the commercial banks and
the central banks who have insatiable appetite for

40
00:03:01,439 --> 00:03:08,159
commodities, which to me seem to
be there's a growing realization that these commodities

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are worth more than the currencies that
purchase them, and that's a big deal.

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So yeah, I think if I
were to sum it up, I

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would say that what for decades has
been this trend of the price being set

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00:03:20,879 --> 00:03:25,240
by the Western banks and the Western
institutional investors seems to be breaking down.

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And I think the underestimation of the
West, or the significance of the Western

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goal shifting eastward and commodities in general
eastward is. The underestimating of this significance

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00:03:39,599 --> 00:03:42,759
is baffling to me, and I
think it will be a big mistake.

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00:03:42,800 --> 00:03:46,439
So, yeah, things are changing, that is for sure, and commodities

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00:03:46,479 --> 00:03:51,800
in particular seem to be at the
center of this change, and I don't

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think that will change anytime soon.
Yeah. Well, I talked with our

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mutual friend Rick Rule last week and
gave me some real insights. You know,

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00:04:02,120 --> 00:04:08,840
a market that was like almost completely
neglected natural gas. He likes to

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buy really cheap when things are trading
at prices that they can't possibly keep going

54
00:04:14,960 --> 00:04:18,839
at, and then just be patient
and don't lose conviction and hang around.

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And you know, we saw it
with gold, We saw it with silver.

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You know, my good friend Nick
Santiago called the bottom of silver at

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seventeen bucks and it's never looked back. I mean, how high can these

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prices go in terms of dollars?
Well, a lot higher than people think

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possible. And I've heard Rick say
that many times that the most money he's

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ever made it would be buying assets
that have been you know, left for

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dead. And that's the whole idea
between buying low and selling high. We

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all learned that when we were little
kids, but no one ever really does

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it. But when you realize,
as an example, that the lbma AS

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is trading two hundred and ninety two
million ounces of silver per day and twenty

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million ounces of gold per day,
but yet admits that their platform is trading

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actually ten times the volume. They
say that they're settling. In other words,

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if I buy ten and sell twenty, or let's say I sell twenty

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and buy ten, and that result
is ten, and so they'll just publish

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those ten, not the thirty trades, which would mean they're trading what two

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hundred million ounces of gold per day
at two point nine billion ounces of silver

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00:05:30,759 --> 00:05:36,519
per day. That re hypothication,
the issuing of way more contracts than there

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are bars behind it enables the price
to be suppressed. But what's different now,

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00:05:43,360 --> 00:05:47,160
and I would say this time it
is different, and really been culminating

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over the last few years, is
the sophistication, the understanding, the coordination

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00:05:53,079 --> 00:05:59,079
and the wealth of the countries in
the global South and Southern hemisphere that understand

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that this is a new game as
old an poser says, all about commodities

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00:06:02,560 --> 00:06:08,959
and they are standing for delivery using
the brain dead suppression that these bankers put

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on the exchanges to support the illusion
of bond supremacy and of a strong dollar

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to their advantage, and they're draining
the world's exchanges. The LBMA is down

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00:06:18,639 --> 00:06:24,000
to its second lowest level of silver
in history. The Shanghai Gold Exchange down

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00:06:24,040 --> 00:06:28,480
to their lowest level of silver in
I don't know how many years the comes

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we've been talking about, all the
deliveries off of comex. It's not just

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silver. Five weeks ago Friday,
we saw five hundred billion ounce of five

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hundred billion dollars rather worth of goal
delivered off of Comex and it ended up

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in Hong Kong. And I don't
think a lot of people understand this,

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but there was a contract that was
developed in two thousand. Let me see

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00:06:51,879 --> 00:06:57,240
if I can find the actual date. There was a contract that was developed

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in twenty fifteen. And this contract, what it allows for is the delivery

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00:07:04,079 --> 00:07:11,560
of gold to a Comex based warehouse
in Hong Kong. It's a Brinx facility

90
00:07:11,639 --> 00:07:15,920
in Hong Kong. And just about
anything that is delivered to Brings Hong Kong

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has done on what's called an exchange
for physical basis, where the contract is

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bought in the West and then delivered
in the East. And five weeks ago

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Friday, we saw five hundred million
dollars worth of gold. The number was

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seven five hundred and sixty kilo bars
of gold, which is what the mini

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00:07:35,920 --> 00:07:41,279
contract is on COMEX and it is
what is traded on the London Metals Exchange.

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So you're talking, you know,
who's got that kind of bread for

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00:07:45,000 --> 00:07:50,560
seventy five hundred and sixty kilo bars
or just over five hundred million dollars worth

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00:07:50,560 --> 00:07:57,480
of gold delivered to Hong Kong.
And the idea or the thought is is

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00:07:57,519 --> 00:08:01,360
that these bars are then immediately put
into a truck and driven to the Shanghai

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00:08:01,360 --> 00:08:07,800
Gold Exchange, where they are then
disseminated to the countries who are accumulating physical

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00:08:07,839 --> 00:08:11,000
metal using the Western suppression to do
so. And so you know, when

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you see this kind of sophistication,
coordination, this kind of well, it

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00:08:16,240 --> 00:08:20,959
should be something that shouldn't be taken
or shouldn't be underestimated, and it should

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be taken very very seriously. So
yeah, you know, I think it's

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just beginning. But it's not just
China. Like you look at India,

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they bought their reserve bank bought one
and a half times the amount of gold

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they bought all of last year,
just in the first four months of this

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year. And following this theme that
we continue to see across the globe,

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they then repatriated one hundred metric tons
from the Bank of England, which means

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they're holding almost all of their gold
right now. That gold's been there since

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nineteen ninety one, much of it
they would leave gold these countries at the

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Bank of England to trade on the
LBMA and at the New York Fed to

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trade on the Comax. Well,
what did we just see? We just

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saw what banks did we just see
pull their metal out of the colemes We

115
00:09:05,919 --> 00:09:09,759
saw I don't know if I have
it here, I can tell you was

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Egypt, it was Saudi Arabia,
and a half a dozen African countries they

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did the exact same thing. I
don't have it written down, but I

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read it just recently. Where you
know, all of these banks over the

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last month and a half, these
central banks have been repatriating their goal both

120
00:09:22,720 --> 00:09:28,240
from the New York Fed and from
the Bank of England. And this is

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a constant theme of removal of counterparty
risk And can you blame them when you

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see the House say we're going to
confiscate, not just sanction and freeze the

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five billion that were holding of the
Russian assets. We're going to take it.

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We're going to give it to the
Ukraine in the form of weaponry.

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And then you have the European Union
that said we're going to freeze, of

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course not steal outright yet, but
we're going to steal the interest from the

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securities that we are holding of Russian
assets and use it to fund the Ukraine.

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So it's one thing to sanction,
it's another thing. And again half

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00:10:03,759 --> 00:10:07,559
of the world believes it, the
West in particularly the United States, in

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00:10:07,559 --> 00:10:11,440
the UK and it believes that we
are hypocritical for all the things that we

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00:10:11,559 --> 00:10:16,320
do that have no recourse. Yet
other countries do things that have great recourse.

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Well, these countries, it's one
thing to sanction, it's nothing to

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00:10:20,000 --> 00:10:24,559
steal and to use it to fight
or to fund the country that you stole

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00:10:24,600 --> 00:10:26,440
it from that they're in a war
with. This is a line in the

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sand you don't come back from very
easily. This is breaking a glass against

136
00:10:30,840 --> 00:10:33,720
the wall and then thinking you can
put it back together before mom and dad

137
00:10:33,759 --> 00:10:37,480
come home. I don't see it
happening. So, yeah, gold and

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00:10:37,480 --> 00:10:41,960
silver have never been more important,
not for any other reason. Then you

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00:10:41,039 --> 00:10:46,080
can see the biggest and most well
informed money in the world making concerted effort

140
00:10:46,159 --> 00:10:50,919
to accumulate it under the cover of
Western market suppression and then repatriate it with

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00:10:52,039 --> 00:10:56,320
little or no media attention. But
when you see all these countries, in

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00:10:56,320 --> 00:11:01,039
particular Saudi Arabia repatriot their gold from
the New York fed, these countries don't

143
00:11:01,039 --> 00:11:05,480
trust us anymore. And this is
all about counterparty risk or the removal of

144
00:11:05,559 --> 00:11:09,759
counterparty risk, all right, So
let's bring it more personal. Your business,

145
00:11:11,080 --> 00:11:13,279
all right. I know it's been
booming for the past eighteen months,

146
00:11:13,360 --> 00:11:18,320
almost to the day you moved down
to Florida. Things like took off.

147
00:11:18,720 --> 00:11:22,519
It's like you did the ultimate short
sell. You shorted, you shorted to

148
00:11:22,960 --> 00:11:28,840
Minnesota and you bought long in Florida
and kind of that's what's been happening in

149
00:11:28,879 --> 00:11:35,639
your business. Basically, your clients
are getting out of dollars and getting into

150
00:11:35,120 --> 00:11:41,600
physical assets. Correct. Yeah,
And but what's interesting, Harry, is

151
00:11:41,679 --> 00:11:50,639
that I would say in large part
since December of last year through maybe four

152
00:11:50,679 --> 00:11:56,279
weeks ago, it's changed lately.
But you know, the first first almost

153
00:11:56,320 --> 00:12:01,720
the first half of this year has
been characterized by a lot of selling into

154
00:12:01,759 --> 00:12:05,440
the market. You look at the
global or the US ETF holdings are falling

155
00:12:05,480 --> 00:12:09,080
at a forty five degree angle,
which would Bill Holter will tell you that's

156
00:12:09,080 --> 00:12:11,759
the big money backdoor in gold out
of the ETFs. But a lot of

157
00:12:11,759 --> 00:12:16,919
it has to do with the traders, or not the traders, the investors

158
00:12:16,960 --> 00:12:20,240
who have been selling GLD and maybe
chasing things like in video or bitcoin,

159
00:12:20,320 --> 00:12:24,720
who knows, or maybe paying bills
in this highly inflationary world we live in,

160
00:12:24,759 --> 00:12:28,679
where the cost of living has accelerated
so much, I don't know,

161
00:12:28,080 --> 00:12:31,960
but there has been a good deal
of selling into the market, and which

162
00:12:33,000 --> 00:12:35,720
confuses me in a great great way. I mean, looking at what Rick

163
00:12:35,759 --> 00:12:39,840
says to me, that's a contrarian
indicator, and where you see the public

164
00:12:39,960 --> 00:12:45,279
selling at the same time the smartest
and most well funded and informed money in

165
00:12:45,320 --> 00:12:48,120
the world, the commercial and central
banks have been massively accumulating it. So

166
00:12:48,639 --> 00:12:54,559
we've seen a little bit of reversal
here lately. But when I look around

167
00:12:54,559 --> 00:13:01,559
and I see the idiocy of our
policy abroad and here at home, where

168
00:13:01,679 --> 00:13:07,120
the borders and the immigration process the
electoral process and judicial system, the lawlessness

169
00:13:07,120 --> 00:13:09,480
in the cities. All of these
things are not lost on the rest of

170
00:13:09,519 --> 00:13:16,559
the world and horrify me. I
you know, I'm surprised that people would

171
00:13:16,559 --> 00:13:20,600
be letting go of their metal in
search of quick returns in things like in

172
00:13:20,679 --> 00:13:26,600
video or bitcoin, because I think
this is the time, more than ever

173
00:13:26,720 --> 00:13:31,559
where you need to really fold on
tight to your conviction and have strong fingertips

174
00:13:31,600 --> 00:13:35,399
because things are about to change,
I think in a meaningful way. When

175
00:13:35,440 --> 00:13:39,360
you see these central banks accumulate the
way that they are and then repatriate the

176
00:13:39,360 --> 00:13:43,559
way that they are, that's significant. Then it shows a lack of trust

177
00:13:43,240 --> 00:13:46,320
and the lack of faith in the
Western system and lack of trust in the

178
00:13:46,320 --> 00:13:50,960
governments that control it. So,
yeah, things are shifting. Things are

179
00:13:50,960 --> 00:13:52,840
moving, no question about it.
Yeah, and for good reason too.

180
00:13:52,919 --> 00:13:58,559
And that's and your business has been
a direct beneficiary of this. I think

181
00:13:58,080 --> 00:14:03,080
a lot of individual rules are starting
to catch on. And look even China,

182
00:14:03,759 --> 00:14:09,559
right the real estate market is crumbled, it's imploded. So people in

183
00:14:09,639 --> 00:14:13,200
China if they do have any money
left, and you know, literally hundreds

184
00:14:13,240 --> 00:14:18,200
of millions of people who were gladly
included in the middle class are now out

185
00:14:18,240 --> 00:14:24,080
of the middle class, but the
ones left, they don't trust the yuan

186
00:14:24,519 --> 00:14:30,799
by any stretch. And I remember
I was there in twenty and seventeen and

187
00:14:31,440 --> 00:14:33,840
guy was telling me, no,
no, I'm not into gold. I'm

188
00:14:33,879 --> 00:14:39,360
into real estate. Real estate's where
it's at. And I haven't talked to

189
00:14:39,399 --> 00:14:41,639
this guy in a while, but
I guarantee it his attitude has changed.

190
00:14:43,039 --> 00:14:48,600
Yeah, I'm sure it would change, and rightfully so. But I think

191
00:14:48,639 --> 00:14:52,279
you could say the same thing about
the dollar about our markets in general.

192
00:14:54,399 --> 00:14:58,960
You know, our bond market,
which was its worst performing year ever maybe

193
00:15:00,360 --> 00:15:05,279
in twenty twenty three, as they
raised rates five hundred basis points in a

194
00:15:05,360 --> 00:15:09,360
year where the first time ever in
forty five years. Anyway, the price

195
00:15:09,399 --> 00:15:13,080
of gold had less volatility than the
ten year treasury. So I think what

196
00:15:13,159 --> 00:15:18,039
you see there is the best laid
plans need to be reevaluated from time to

197
00:15:18,080 --> 00:15:22,279
time. But all of this,
you could argue, is that you know

198
00:15:22,320 --> 00:15:28,320
the symptom of a over leveraged and
undercapitalized world where everything is on leverage and

199
00:15:28,840 --> 00:15:35,879
just as bullish as it was for
asset prices in a low infrastrate, easy

200
00:15:35,960 --> 00:15:43,679
money, leveraged environment. The deleveraging
in an environment where when this stuff starts

201
00:15:43,720 --> 00:15:50,120
to break as it appears, I
think it's bound to anyway, the lack

202
00:15:50,159 --> 00:15:54,360
of credit or the contraction of credit
will be something that will amaze people,

203
00:15:54,399 --> 00:16:02,639
because the amount of credit that is
applied everywhere in this asciety is what makes

204
00:16:02,919 --> 00:16:07,879
the system move. And if you
start to rein in and liquidity dries up,

205
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as banks begin to feel pressure,
and again, you know everyone talks

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about rates going down, I see
rates ultimately going higher. Yeah, the

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Fed may try to lower the short
term rates, but the ultimate you have

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to ask yourself, who in their
right mind would buy treasuries of any duration

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in the country who has chosen to
weaponize the treasury market, confiscate Russian assets,

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Russian treasures and give them to the
country that they're fighting. Who would

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trust that in an environment where the
treasury market has gotten walloped as rates rose

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at the hand of the Fed,
and then a country that has chosen inflation

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over austerity always and will continue to
do that. We were printing, We're

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adding a trillion dollars every hundred days, that two hundred years to do that,

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Why would anyone buy our treasures?
And even if the budget was balanced

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today, which it's not. Who's
going to pay for the ninety nine trillion

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dollars shortfall in Medicare Part B,
the twenty two trillion dollars shortfall Medicare Part

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D, the seventy seven trillion dollars
shortfall in Social Security, government military pensions

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and entitlements that are all off balance
sheet and not funded. Who's going to

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pay for that? And you got
the Congressional Budget Office, which is a

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nonpartisan group, maybe the last one
in Washington, who said, by twenty

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thirty one, one hundred percent of
tax revenue will go just to pay the

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interest on the debt and the mandatory
of titlement spending like Social Security. And

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that doesn't even take into account the
the seventeen million people that are in here

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00:17:44,400 --> 00:17:47,400
illegally. Who's going to pay for
them their food, they're clothing, they're

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housing, they're schooling. And if
you realize that military spending is discretional,

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not mandatory, it was going to
porrow money to an insolvent broke country that's

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lost their bearing to fund their military
that's going around the world bullying people nobody.

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And so when you talk about rates
going lower, it's a bunch of

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crap. Ultimately they have to go
higher. And in an environment where rates

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go higher and the strain on an
overleverage, under capitalized system becomes real,

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yeah, you'll see an unwinding of
credit that will, I think, be

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exponentially more devastating than the extension of
easy credit and cheat money. In essence,

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the inverse in this world that is
as leveraged as it is could be

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very shocking. So this is not
about buying gold and silver to become wealthy

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carry It's because it is wealth and
the biggest money in the world, the

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central banks who know the playbook.
They're not only their rampant accumulation, but

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their removal of counterparty risk by repatriating
is huge. I think it should not

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be underestimated. And this flow of
gold and commodities, whereby commodities are becoming

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worth more than the currency that buys
them, this flow from west to east,

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it shocks me how underestimating the talking
heads are at looking at this.

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They're underestimating the significance of this,
and it's a big deal. So yeah,

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I think now more than ever it's
time to be a contrarian, or

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you'll end up being a victim.
Yeah, I could not agree with you

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00:19:18,200 --> 00:19:22,680
more. And you know, it's
just you really don't have a lot of

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00:19:22,759 --> 00:19:26,160
choices. How do you feel about
bitcoin these days? I mean it's trading

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mid sixties now. I generally buy
a little bit every Sunday night as I

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find the prices pulled back on the
weekends. Generally not always, but a

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little bit here, a little bit
there. Have accumulated a nice little position

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00:19:42,960 --> 00:19:48,839
in it. It's up. It's
up forty percent from when I started.

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I would swing traded for a while, and then after it started making getting

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close to new highs, I ended
that practice just accumulated. Obviously, you

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can't put it in your hand,
you can't hold it, you can't touch

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00:20:00,880 --> 00:20:06,960
it, you can't bite it to
make sure it's real. But it still

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appears to be an asset that has
value. Yeah, I mean it does.

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I guess I look at things from
I mean, look, I don't

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want to be in a position,
Carrie where I look back and say,

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00:20:18,160 --> 00:20:21,279
damn it, I should have done
that. I knew I should have done

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00:20:21,319 --> 00:20:23,759
that. Most of us do that
in our lives at some point or another.

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We don't trust our intuition. And
while I don't truly feel the same

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way about bitcoin in any way,
shape or form that I do about physical

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commodities. I have largely due to
some conversations I've had with guys like Mark

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00:20:38,359 --> 00:20:44,680
Moss and Natalie Burnell. I've been
dipping my toe in, little little bit

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00:20:44,720 --> 00:20:47,519
at a time. Every couple of
weeks I had a little bit of bitcoin

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00:20:47,599 --> 00:20:49,519
to my portfolio. I don't own
a lot, but I own enough to

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00:20:49,559 --> 00:20:53,200
where I will not punch myself in
the ear if I was wrong. Look,

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00:20:53,240 --> 00:20:59,000
the one asset that all the central
banks are buying is gold and physical

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commodities. But I would be remiss
if I didn't at least have a toe

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00:21:03,640 --> 00:21:07,240
in the water as it pertains to
bitcoin. Last time I said something like

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00:21:07,279 --> 00:21:11,119
this publicly, I got an email, first one I've gotten a long time

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00:21:11,119 --> 00:21:14,720
from our old friend who you know, who's saying what about me? I

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00:21:14,759 --> 00:21:17,400
told you about this a long time. Going to his credit, he did,

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00:21:18,079 --> 00:21:21,200
he just lacked the decorum in the
way of speaking in a way that

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resonated with me. So in having
lunch with Mark Moss and Natalie Burnell in

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00:21:25,839 --> 00:21:33,799
Vancouver, their manner and method of
disseminating the information was such that it resonated

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00:21:33,839 --> 00:21:38,480
with me, and so I've added
a little bit, and so I'm not

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adversarial with it. And I think
it's a mistake for our two camps to

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be adversarial. We should be complementary
because in essence we both I think see

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00:21:48,599 --> 00:21:55,079
the reason the same, and that
is, you know, the idiocy and

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00:21:55,279 --> 00:22:00,559
irresponsibility of our fiscal policy and the
brain dead monetary policy. The different it

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00:22:00,640 --> 00:22:03,640
really to me is that one camp
wants to get wealthy and the other camp

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wants to not lose what they've made. And so if we marry those two,

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you can have the exponential growth potential
a bitcoin and the savings, the

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00:22:14,279 --> 00:22:19,440
historical savings and keeping pace with inflation
value of gold. And so you take

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00:22:19,559 --> 00:22:23,039
chips off the table that you profit
and you put it into the other pocket

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00:22:23,160 --> 00:22:26,759
that's gold. So we should be
complementary of one another, not adversarial.

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00:22:26,759 --> 00:22:30,079
And that's really the most important thing
here. So I can't go around in

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00:22:30,119 --> 00:22:33,880
good faith saying this if I don't
own a little bit of it. So

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00:22:33,000 --> 00:22:36,759
I have been buying a little bit, and I'm glad that I did.

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00:22:36,839 --> 00:22:41,720
But I'm a hard asset commodity in
your hand type of guy. So It's

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00:22:41,720 --> 00:22:44,920
not an easy thing for me to
do, but I understand the argument enough

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00:22:44,960 --> 00:22:48,039
to where I've acquiesced and I am
doing it. Hey, totally, I'm

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00:22:48,079 --> 00:22:56,039
totally agreeing with you. And same
here. I was always a died in

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00:22:56,119 --> 00:23:03,799
the wole hard asset investor, for
sure, and I like having the hard

295
00:23:03,880 --> 00:23:07,240
metal in hand. But on the
other hand, you know, it's like

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00:23:07,319 --> 00:23:12,599
you have to be a fool not
to recognize that when you have ETFs all

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00:23:12,640 --> 00:23:19,240
over the place, right and everybody
is more and more people are pouring into

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00:23:19,279 --> 00:23:25,240
this asset class not a currency.
I will never call it a currency until

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00:23:25,640 --> 00:23:30,920
I could send Miles Franklin my bitcoin
and get gold. But yeah, well

300
00:23:30,920 --> 00:23:34,160
we do take it through bit and
pay. No pay is a a is

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00:23:34,160 --> 00:23:37,400
a group where you we issue a
bit pay link and the funds go to

302
00:23:37,599 --> 00:23:41,599
the crypto goes to bit pay,
they pay us dollars. So it shocked

303
00:23:41,599 --> 00:23:45,759
me how efficient it is. I
had someone do a very large order using

304
00:23:45,759 --> 00:23:48,880
a theorium that was like three million
dollars and the money came to us in

305
00:23:49,000 --> 00:23:53,599
literally seconds and cleared and we shipped
it out right away. That's something that

306
00:23:55,119 --> 00:24:00,880
certainly you could argue that cryptocurrency is
far more efficient than the ant equated swift

307
00:24:00,880 --> 00:24:04,440
and wire system that didn't take a
long time and has to go through intermediary

308
00:24:04,480 --> 00:24:07,160
banks and the whole nine yards.
So yeah, you know, there are

309
00:24:07,200 --> 00:24:12,640
certain part of this whole process that
really is intriguing. But you know,

310
00:24:12,680 --> 00:24:18,240
it's like I'm afraid to even put
my thumbnail thing, thumb drive thing into

311
00:24:18,240 --> 00:24:21,599
the computer. I mean, it
scares me. I don't know what the

312
00:24:21,599 --> 00:24:23,279
hell I'm doing, have a friend
who helps me do it, and you

313
00:24:23,279 --> 00:24:27,599
know, again, it's like I'm
like an old timer who the kids laugh

314
00:24:27,640 --> 00:24:30,920
at, you know, but you
know what you know, right, and

315
00:24:33,880 --> 00:24:36,799
and I'm good at what I do, and every time I've tried to do

316
00:24:36,839 --> 00:24:40,079
something else, I'm really not so
good at it. So I but I'm

317
00:24:40,119 --> 00:24:42,599
acquiescing here. You know, the
old dog can learn some new tricks,

318
00:24:42,599 --> 00:24:47,279
begrudgingly, and we'll see what happens. You know, I don't want to

319
00:24:47,319 --> 00:24:48,599
go back and say, damn it, I knew I should have done that,

320
00:24:48,720 --> 00:24:52,440
So stake. The moral of the
story is trust your gut, listen

321
00:24:52,480 --> 00:24:56,440
to your voice, and if you're
wrong, it's easier to be wrong when

322
00:24:56,480 --> 00:25:00,720
you did it on your own volition
and weren't talked into it, and when

323
00:25:00,799 --> 00:25:06,039
you're right, it's a whole lot
better. It's it's kind of like clients

324
00:25:06,079 --> 00:25:08,759
when you're telling you you present them
with something and they do it and it

325
00:25:08,799 --> 00:25:11,880
goes the right way, they're a
genius. But when it doesn't, you're

326
00:25:11,920 --> 00:25:17,079
an idiot. And what goes on? I would write it, I listen

327
00:25:17,160 --> 00:25:22,160
to you. Yeah, I'd rather
take accountability for my actions. Yeah,

328
00:25:22,279 --> 00:25:26,960
hey, same here in the end, you are always responsible, whether you

329
00:25:26,960 --> 00:25:30,119
will like to blame it on somebody
else or not. It's you wrote the

330
00:25:30,240 --> 00:25:36,440
check, you put it button right
you. But just on bitcoin, I've

331
00:25:36,440 --> 00:25:41,880
got four tenths of the bitcoin floating
out there, and luckily when I lost

332
00:25:41,920 --> 00:25:45,759
it because I had upgraded my iPhone
and it wiped out my password and I

333
00:25:45,799 --> 00:25:49,920
could never get it back. Back
then it was two hundred dollars. The

334
00:25:51,000 --> 00:25:55,599
problem is now it's thirty thousand.
Now I would have probably never kept it

335
00:25:55,640 --> 00:26:00,680
that long anyway. But I'm thinking
of going to a hypnotist to try to

336
00:26:00,720 --> 00:26:04,440
remember what my what my tey is. You know, I cannot luck on

337
00:26:04,599 --> 00:26:07,559
it. Good luck on that.
If that works, well, I'll go

338
00:26:07,599 --> 00:26:11,160
and see hypnotists too. For a
myriad of other things that I've probably forgotten

339
00:26:11,200 --> 00:26:15,640
over the years. But that has
more to do with my social life and

340
00:26:15,680 --> 00:26:21,359
growing up in a house where my
parents were hippies, and oh well that

341
00:26:21,640 --> 00:26:26,440
then probably anything else. But you
know what, Hey, we all make

342
00:26:26,519 --> 00:26:29,200
mistakes along the way, and that, to me is the thing that scares

343
00:26:29,240 --> 00:26:33,160
me the most about cryptocurrency. But
you know, there are some people who

344
00:26:33,240 --> 00:26:34,960
laugh that away. And it just
is like anything. It's like the first

345
00:26:36,000 --> 00:26:38,920
time you ever fire a handgun at
a range. You're scared and you don't

346
00:26:40,000 --> 00:26:42,200
know what to do. And the
first time you pull the trigger and you

347
00:26:42,279 --> 00:26:45,680
know, and maybe if you get
it jammed, what do you do?

348
00:26:45,799 --> 00:26:48,000
You're afraid. After you've done it
for a lot of time, it's no

349
00:26:48,079 --> 00:26:52,839
bigger you know, I love you, and I just think that it's like

350
00:26:52,920 --> 00:26:59,400
anything. It takes time and repetition
and experience and and know how so I'm

351
00:26:59,480 --> 00:27:03,839
slowly time. First time you pull
that trigger, man, you don't know

352
00:27:03,880 --> 00:27:07,079
what you've unleashed. Chief, right, I must be I must be insane.

353
00:27:07,119 --> 00:27:11,119
Here is that the power? You
know? The whole think, But

354
00:27:11,480 --> 00:27:17,400
that's called empowerment control? Right,
So, hey, you're going to be

355
00:27:17,440 --> 00:27:22,480
at Rick Rules conference, though,
of course I wouldn't miss it. It's

356
00:27:22,480 --> 00:27:26,519
the only one so well. That
and the Vancouver Resource Investment Conference, Jay

357
00:27:26,599 --> 00:27:30,880
Martin, those are the two that
I would never miss And so yeah,

358
00:27:30,960 --> 00:27:33,480
I will be there. It's my
backyard, as you know, it's not

359
00:27:33,599 --> 00:27:37,680
too far away. And look forward
to seeing you there. And now hopefully

360
00:27:37,799 --> 00:27:40,599
some of the people listening to this
show, it will be nice to see

361
00:27:40,599 --> 00:27:45,200
some put some some faces to the
people I talk to online all the time.

362
00:27:45,599 --> 00:27:48,640
All right, hey, we appreciate
you coming. Miles Franklin dot com

363
00:27:48,640 --> 00:27:53,759
online system ready operating it is.
We have a new one also coming out

364
00:27:53,799 --> 00:27:56,720
at the end of the month where
upgrading at version two will be a lot

365
00:27:56,839 --> 00:28:03,039
more user friendly. And if you
want prices or questions on anything you've heard

366
00:28:03,039 --> 00:28:06,640
on the show or anything else,
send an email to info at Miles Franklin

367
00:28:06,680 --> 00:28:11,799
dot com and say carry Lots or
the Financial Survival Network sent us because the

368
00:28:11,799 --> 00:28:17,880
prices that we have that we don't
post online, we only allow limited purchasing

369
00:28:17,920 --> 00:28:21,640
up to ten grand online. If
you send us an email and request that

370
00:28:21,680 --> 00:28:25,240
price list, you'll see that the
prices that we will send you are as

371
00:28:25,279 --> 00:28:27,079
good, are better than anywhere in
North America. But we keep that closer

372
00:28:27,119 --> 00:28:32,319
to the vest. So info at
Miles Franklin dot com with any questions or

373
00:28:32,359 --> 00:28:34,279
just the price list, but make
sure you say the Financial Survival Network or

374
00:28:34,319 --> 00:28:37,599
Carrie send me and it would be
very important to us to know where it

375
00:28:37,599 --> 00:28:42,000
came from. And I will treat
your listeners with white glove. That's my

376
00:28:42,119 --> 00:28:47,279
promise. We've never had a customer
complaint fortunately, and one on thirty five

377
00:28:47,359 --> 00:28:49,799
years. Will make damn sure your
listeners are not the first. And I'm

378
00:28:49,799 --> 00:28:53,519
just going to read something because I
was just scanning the company see if there's

379
00:28:53,559 --> 00:28:57,400
anything I don't know about, and
I came up with a review on LinkedIn

380
00:28:57,799 --> 00:29:03,839
and it says is is Miles Franklin
legit? And I'm just going to read

381
00:29:03,880 --> 00:29:06,880
you what it says here. I
think you know it says it all.

382
00:29:07,039 --> 00:29:11,759
Miles Franklin has been in business since
nineteen eighty nine, making them incredible and

383
00:29:11,880 --> 00:29:18,319
experienced precious metals firm. They have
earned positive reviews on Trust Pilot and hold

384
00:29:18,359 --> 00:29:26,400
a Better Business accreditation for many years. They're extensive history and customer satisfaction attest

385
00:29:26,759 --> 00:29:30,519
to the legitimacy in the industry,
and I would add to that where many

386
00:29:30,599 --> 00:29:36,720
others who are thought to have been
at one time legitimate have been proven otherwise.

387
00:29:37,160 --> 00:29:38,680
Yeah, I don't know. I've
never seen that. I don't know

388
00:29:38,960 --> 00:29:41,680
who wrote that, but thank you
whoever did. Look. You know,

389
00:29:42,160 --> 00:29:45,960
in a world that where information is
so readily available at our fingertips, it's

390
00:29:47,000 --> 00:29:49,720
an easy thing to research, and
we're very proud of it. And you

391
00:29:49,720 --> 00:29:52,720
know, even though I live here
in Florida, not too far from you,

392
00:29:53,680 --> 00:29:56,720
I left my corporate entity in Minnesota, even though it has saved me

393
00:29:56,799 --> 00:30:00,839
money, because it is the only
sting America that regulates what is a federally

394
00:30:00,880 --> 00:30:04,599
non regulated industry, so we are
held to a far higher standard. Most

395
00:30:04,599 --> 00:30:10,400
companies in America boycott Minnesota as a
result of this regulation or this accreditation,

396
00:30:10,519 --> 00:30:15,200
this licensing and this bonding that is
expensive and invasive in terms of privacy and

397
00:30:15,759 --> 00:30:21,160
continuing education and compliance. It's a
drag, but when in the end we

398
00:30:21,240 --> 00:30:23,039
are all to a higher standard,
and I realize that, and that is

399
00:30:23,079 --> 00:30:27,599
a benefit to us and to the
to the end user. So that's why

400
00:30:27,640 --> 00:30:32,079
I left it there, and it's
some more very proud of and we embrace

401
00:30:32,559 --> 00:30:37,680
regardless of how onerous it truly is. But coming on a show with a

402
00:30:37,720 --> 00:30:41,759
guy like you who you know for
years. Your reputation is your currency,

403
00:30:42,480 --> 00:30:47,160
and we take that very seriously.
And you know, I don't want to

404
00:30:47,160 --> 00:30:51,960
disappoint you, my friend, or
anyone else, or hurt anyone by any

405
00:30:52,000 --> 00:30:56,279
stretch of the imagination. So it
is our really our mission to uphold this,

406
00:30:56,279 --> 00:31:00,920
this amazing, this amazing track record
that I still can't believe is in

407
00:31:00,000 --> 00:31:04,720
place. And because we've made mistakes, but I think a person is defined

408
00:31:04,759 --> 00:31:10,000
not by the mistakes they make,
but how they make good or rectify or

409
00:31:10,119 --> 00:31:12,759
deal with said mistakes. So we
were pretty good at that as well too.

410
00:31:12,839 --> 00:31:15,759
So for what it's worth, thank
you for the kind words. Thank

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00:31:15,799 --> 00:31:21,359
you for the year's worth of friendship
and this relationship that whereby you trust me

412
00:31:21,400 --> 00:31:25,279
to come on your show where trust
is your currency and information, and we

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00:31:25,359 --> 00:31:29,000
take that seriously. And I look
forward to picking up where we left off.

414
00:31:29,039 --> 00:31:33,079
We'll have to do one in person
at rep show, but at any

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00:31:33,119 --> 00:31:37,640
time that the world beckons or information
is worthy to speak about, let me

416
00:31:37,680 --> 00:31:41,279
know it's always an honor to be
here with you. Carrie, you got

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00:31:41,279 --> 00:31:45,200
it, and the gentleman who left
that it was just recent May twenty fifth

418
00:31:45,240 --> 00:31:51,000
of this year is Yasuki Kohara appears
to be a client, and I have

419
00:31:51,039 --> 00:31:53,319
no idea who Usuki is, but
thank you, Ysuki. I really appreciate

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00:31:53,359 --> 00:31:56,599
you. Brother. He's on LinkedIn. I'm going to put a link in

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00:31:56,640 --> 00:32:00,440
the show notes to his review because
I think it's Hey, I can say

422
00:32:00,440 --> 00:32:02,680
you're great, you can say you're
great, But when you have a third

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00:32:02,680 --> 00:32:07,240
party who you don't even know who
the guy is and he says you're great,

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00:32:07,759 --> 00:32:10,680
that carries more weight. That's called
social proof. And I don't need

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00:32:10,720 --> 00:32:15,799
any more proof. I mean I
used to. I used to say when

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00:32:15,599 --> 00:32:19,759
Andy would come on, I'd say, you know, Miles Franklin, when

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00:32:19,920 --> 00:32:23,599
you buy they shit, Because believe
me, I've been. I haven't been

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00:32:23,799 --> 00:32:29,759
totally screwed over on gold. But
partially I've waited months from a company where

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00:32:29,799 --> 00:32:32,799
the owner I could visit him if
I want to, because I think he's

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00:32:32,799 --> 00:32:36,640
in the federal lock up. Well
that be, that'd be, that'd be

431
00:32:37,319 --> 00:32:40,559
don't even have to tell me.
That would be the one up in Washington

432
00:32:40,599 --> 00:32:45,200
to say if they were known for
that, yeah, less territorial menu,

433
00:32:45,720 --> 00:32:47,640
you know what, there's all over, Yeah, you know what, and

434
00:32:47,720 --> 00:32:52,240
that's a big deal. Look it's
federally non regulated industry, so it lends

435
00:32:52,279 --> 00:32:59,079
itself into this kind of chih aigains, let's say. But in any case,

436
00:32:59,119 --> 00:33:00,720
I do appreciate it, Carrie,
and I look forward to picking up

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00:33:00,720 --> 00:33:05,319
where we left off. I know
you and I have a lunch plan in

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00:33:05,359 --> 00:33:07,400
the near future, so I look
forward to seeing in person. And in

439
00:33:07,440 --> 00:33:10,119
the meantime, thanks for having me
on and we'll do it again soon,

440
00:33:10,359 --> 00:33:14,799
all right. Got a question for
Andy myself. The email address is kl

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00:33:14,880 --> 00:33:17,559
at Carrie Lets dot com. The
link to Miles Franklins in the show notes

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00:33:17,599 --> 00:33:22,599
below, And while you're at the
site Financial Survival Network dot com, please

443
00:33:22,640 --> 00:33:28,359
sign up for your free newsletter and
Andy, we will see you soon.

444
00:33:28,599 --> 00:33:30,359
See you, my man, Stay
well, Carrie, Thanks for listening to

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00:33:30,519 --> 00:33:37,640
Carrie Lets's Financial Survival Network, your
solution to today's trying times. For the

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00:33:37,720 --> 00:33:44,839
latest, go to Financial Survivalnetwork dot
com. Financial Survival Network now more than ever,