Let's welcome Tony Rderman of Whyswolf dot gold and Tony has set up David Night
dot gold also take you there. Thank you for joining us, Tony,
good to see you. Good to see you, David, Thanks for having
me. Well, I tell you we're seeing a lot of things happening very
quickly now with crypto, with gold, with interest rates. What do you
see in terms of I just talked about these branch banks that are shutting down.
That's my biggest concern, of course, is not just if people look
at a time of inflation and we now have a lot of big banks and
the economic analysts are saying, yeah, we think there's going to be credit
easing. Gerald Celine has said that they're going to do it because of the
election year, and of course that is true, and so they're going to
ease the interest rates. That's going to cause more inflation. That always causes
a gold to go up. They've been fighting gold by raising interest rates and
an amazing amount. But the thing that really concerns me is this push towards
CBDC in a cash the society. But what do you see in terms of
the economic issues as you're watching it closely well, I think the banking issue
is systemic. I think it's worldwide. You just had the CEO of UBS
come out and say that they're going to need a rescue and out of Switzerland.
This isn't good. Yeah, you know you saw the crypto banks failing,
FTX, Silvergate, Silicon Valley Bank, all that, and how it
affected the regional banks across the United States, and that prompted the Janet Yellen
to clarify and say that they're not all banks are going to be bailed out
in the new order when things do collapse. So I think what you're watching
and the financial networks are never going to pick up on this until it's too
late. You're seeing the price of gold arise in the face of the Federal
Reserve raising interest rates the fastest rate in history that they've done. That they
were able to curtail inflation a bit and cause the perception of a strong dollar
I think globally. But gold continues to rise last year going into November day,
but I believe the price of gold was just under seventeen hundred dollars an
ounce. China has added hundreds of tons of gold to their holdings. The
central banks around the world continue to buy gold at a record pace, and
I think this is what's driving gold ultimately, it's demand. The United States
and the Federal Reserve is not going to buy gold because the dollar competes with
gold and value. And I think what you're watching is this is historic,
is a revaluation of currencies, and central banks are going to gold for a
safe haven. That's what the rich and the elite are doing. Because this
system has cracks in it. It's very volatile. Yeah, and as you
point out, you know they have raised the interest rates and dontern at a
very fast rate. That's one of the reasons why banks are under stress is
because they got caught with holding banks holding bonds and they couldn't trade them out
quickly enough, and so that put them underwater with that stuff. But it's
also created havoc in the real estate market. Goal prices are holding while their
value while new home sales have dropped five point six percent in October. And
it's not just that you've got cryptocurrency that is going through a correction as it's
dipped down to thirty seven thousand dollars. Gold is hanging in there even though
they have raised interest rates and the rest of this stuff. And so I
think as people look at this and realize that an election year they're going to
cut the interest rates significantly, it's only going to go up. But my
key thing again keeps coming back to having it for privacy, having it,
having something that is outside of what they're going to control, because who knows
what they're going to do. You know, you see all these different branch
banks shutting down. They could do anything they want. They could do it
very very quickly. Well, they're going to build, in my opinion,
and I think you'd agree with me, they're going to build the central bank
digital currency on the backs of the bank that compete the most to audition to
be the rollout for that. And I think that's what these big banks are
doing, and they'll be buying up the smaller and regional banks. This is
a consolidation game. I mean, ultimately the new World order is just about
consolidating. So I think that's what you're going to see. These banks are
going to be auditioning, competing to roll that out, and the regional banks
are going to suffer. They'll be less and less focused on the individual or
a customer service. I mean, we've lost that completely in this economy and
the new age of things, with our stock market not based off profit anymore.
So we've complained that ship has sailed a long time ago. So I'm
really skeptical of the banking system right now. I don't tell people to not
have a bank account, but you definitely need to be skeptical of all your
holdings in one place or being in the system. I like having physical gold
and silver. There's no counterparty risk. You hold that in your hand.
That's something that's real. And you know, we can talk about crypto and
we can talk about bitcoin. I still think bitcoin has a story to tell,
there's something there to watch, but it's very volatile as well, So
you know, you're right about just being outside of the system. And I
think, really, David, it's so counterintuitive because we have to watch these
prices. We're always watching the markets. But you know, gold went up
two thousand percent from nineteen seventy one in nineteen seventy nine, but that's not
because the gold went up in value. I think that's what you're having to
come to terms with here because we're not taught this in school. They're never
they're never going to let you in on this secret. The dollar constantly loses
purchasing power and the amount of abuse that it's gone on, and just in
the last five years unprecedented. You know, you got eighty percent of all
the dollars ever created, We're created the last forty eight months. So yes,
Jerome pal can raise interest rates, he can calm a lot of the
fears of our global partners and people that use the dollar petro dollar, but
ultimately it loses purchasing power and they're not going to be able to. I
don't think they can simultaneously keep a strong dollar and lower interest rates because the
economy right now is begging for cheap fiat currency debt and that's these big multinational
corporations, these EESG corporations, environmental social governance that they're looking for cheap injections
of cash. The FED is going to have to do something, and when
they do that, you'll be able to go back and cash out these bonds
with devalue dollars. And it's really going to wrek havoc across the spectrum of
what the dollar entails. And I think that's what we're going to have to
watch out for, just really putting too much faith in the system, and
gold, in my opinion, is a safe haven and silver is a safe
haven. Outside of that, well, you know, they've always targeted to
have regulate. Their target. What they would like to see happen is inflation
of about two percent, and because that helps them to monetize the debt,
you know, they spend it and then they can pay it back with cheaper
dollars. As you're pointing out, when you look at what happens with gold,
gold is really holding its value. And we've talked about that in the
past. You go back and look at something that somebody bought one hundred years
ago, and it's pretty much the same amount of gold as it was one
hundred years ago, and it's the dollar that is constantly losing its value.
And that's my design. They've wanted that, but now it's kind of getting
a little bit out of hand. It's way above two percent, and they're
worry that is going to completely get out of hand. And we've seen that
in our lifetime. And as you point out, there's quantitative easing where they
increase the monetary supply, they play games with the interest rates. But I
had David Stockman on the other day and he was talking about the fact he
said, look at the massive stimulus that was put out there, that really
does dwarf even their quantitative easing and the money that they threw into the repot
markets and this and that. I mean, they're just printing this stuff up
and throwing it at everybody. But the stuff that happened during the lockdown and
that stimulus thing, that was a massive shock. And said, so what
the central Bank's going to do? They've got themselves kind of over barrel,
and what is the Federal Reserve going to do? They've they've gone from like
nine hundred million to a nine trillion in a short period of time. Are
they going to go from nine trillion to ninety trillion? Is that what they're
going to do? And if they do that, what does it do to
their currency? It's crazy, Well, it completely tanks it. I think
we're at the end game of post nineteen seventy one currency model. And we
went off the gold standard in nineteen seventy one. Goal was thirty five dollars.
Announced We Kissinger, who just recently died, you know, he pegged
the dollar to crude through the Saudi's That's what's known as the petro dollar.
Yeah, he created them. Give him credit for that. They't. They
didn't talk about that. And a either none of the places that's talked about
how he created the petro dollar that's falling apart in this now. Oh,
they didn't give him credit for that. Or Cambodia or a lot of the
coups that took place in South America. Didn't give him credit for that.
Bombings, yeah, the secret bombings. Yes, you know, you look
at the seventies, David, I think something really interesting happened. I was
listening to a podcast the other day with Robert Kiyosaki, a rich dad,
poor dad. He had all these old guys on. I like listening to
the old traders. They all got this is back in the seventies when the
Hunt family put a run on silver and drove up the physical silver market.
Now this was again, this is just off the heels of us coming off
the gold standard. Gold was rising. Silver had always been pegged to the
dollar as well, and so they started buying up. The Hunt family here
in Texas started buying up physical silver. And I'm just in massive quantities.
And you know, if you really look at it, the deep state most
likely took out the Hunts. They used the financial system because they were exposing
something very really the power structure did not want them to see, which was
how weak the dollar was. So you know, you always see a dollar
as a silver dollar. It's you know, zero point seventy three five ounces
make one dollar. That's how it was from the founding of the country until
we removed silver from our coinage. And so the Hunts were exposing that.
And you know, Bunker Hunt said that the price of silver could go with
fifty dollars an ounce in mid seventy nine, and of course it did in
nineteen eighty went to fifty dollars an ounce, and the deep state came in
along with the regulators and really took out and hobbled the Hunts for doing that.
And no one ever again picked up that mantle, no one. I
think it was Warren Buffett for a little while became a primary holder of silver,
but didn't encourage people to buy us physical was not in that was not
trying to drive up the price, just holding the same thing with JP Morgan.
I think what we're about to I think this could be another silver boom,
just based on the fact that this happened before when we've had a massive
shift in our currency. This is another one of those shifts, except this
time, David, I don't think they can put put the genie back in
the bottle. I think there's not when you talk about going from nine trillion
to ninety trillion on the balance sheet, like you just said, well,
there's no more room. They have no more room to play with this.
I mean you when the total debt of the US in nineteen eighty was less
than a trillion dollars, So it's thirty three trillion in climbing rapid and then
the wheels are completely there's no we don't even have fiscal hawks anymore. We
don't talk about budgetary matters. We're one hundred and thirty percent of debt to
GDP in this country. So I think this, you know, being outside
the system, and I think this is why you know your show is so
important. We're not talking about investments, folks, David and I don't really
talk about investments. We're really talking about how to protect you and your family
in the coming new order of things, the great reset. Okay, that's
what we're talking about. So being outside of the systems is great. But
also these are monetary matters, and I think that if you really look at
the history here, there's an opportunity for you to protect yourself and your wealth
against what's going to happen, a major devaluation and dedollarization the likes of which
we've never seen. I think silver is going to be an important part of
that story of just kind of thinking about that what happened in the last cycle,
which was the end of the nineteen seventies. Yeah. I like the
way that Bill Holter put it. He said, real at what's happening in
Switzerland, as you mentioned with ubs, and then you've got credit. Swiss
is going to try to go in there and bail them out, but they're
not in that strong a position either. And he said, keep an eye
on silver, which is what you're just saying. He said, it may
be the pen in the gold grenade. I like the way that we pull
out that silver pen. That gold grenade is going to explode. But again,
you know, we've never had a situation before where the government is going
to try to corral you into complete surveillance state. Just as NICKI Haley saying,
to know your name if you're going to get on the internet, I've
got to know your name, But when you look at the CBDC, it's
even worse than that. It's like, you buy anything, I want to
know your name, and i want to know what you're buying, and I'm
going to keep an inventory of everything that you're buying, and I'm going to
tell you whether or not you can buy anything in the future or not.
I mean, you don't want to live in a situation like that. It
may be necessary for us to have to have, you know, some CBDC
credits so we can pay our government taxes. They may require it or something
like that, but we don't have to be completely captured into that system.
If we've got physical money that's outside of that. That's the key thing.
I think you can be surprised I think your audience would be surprised too.
I mean, I'm in the business, and I know how liquid gold and
silver are. I mean I can trade my gold and silver anytime, day
or night pretty much and turn it into fiat currency so to me. And
historically gold is money, but I think you're in silver is money. But
I think your audience would be surprised how many people will just trade in gold
and silver, people that I use for contracts, people that do work for
me. You would be surprised, folks, just how many people will trade
directly, and if not, you can find a reputable dealer. You can
find private individuals that will be able to buy from you. It's going to
be so important in the future for us to have physical money outside of this
system because I think there and I think David has talked about this many many
times, they always use a crisis. This will be the perfect opportunity as
an excuse. Never let a good crisis go to waste. They're going to
use this coming crisis that they themselves perpetuated to bring in an usher in the
central bank digital currency, in my opinion, yeah, oh yeah, And
it'd be very easy for them to do that. And then once they get
everything online, to think how easy it'll be for them to pull the plug
on everything and how long is it going to take for everybody to really freak
out? You know, we had yesterday we were out of electricity for about
seven plus hours and the whole area, all the schools shut down, all
the businesses shut down. I mean, everything just comes to a screeching halt.
They can do that with electricity. They can do it with the internet.
You know, if you get everybody is transferring everything on the internet.
As they get us more and more under central control, they can pull a
plug on everything so easily. Now. And as you're talking about being able
to trade outside of this very vulnerable system that they've got, it's just like
our supply chain, you know, as we saw during twenty twenty. You
have this wonderful idea of just in time delivery, and it's working great,
and the shelves are full, and then all of a sudden, you put
a kink in it and you break part of that chain, and it all
falls apart, very very rapidly, because it is so complex, and because
they've set up something that has so many different travel components in each length of
those chains, and so you break that and now you've got a big crisis
on your hand. So these complex systems that they have designed are very easy
to sabotage. They can fall apart on their own, and so it's important
to be on the outside of that. And I think about back in the
depression, and you probably know some stories about this as well, Tony,
some of the cities that would get together and they would create their own local
community currency. You had some of them, They still have some of these
and museum pieces where they would make, you know, wooden nickels and other
things like that, but it would be local tokens that people would use in
a sense kind of a way of doing barter in exchange within that community because
you know, the drying up of the money at that point in time.
I don't know, you could argue that it was deliberate or whatever, but
the bottom line is it wasn't as structured and planned and deliberate as their move
to try to push us into a cashless society is. You know, it's
a lot of bad economic planning that was part of it. May have been
some conspiracy as part of that as well, but you know, people had
to find a way to exist outside of that financial system of the Federal Reserve
because they completely screwed everything up. This is going to be more bi it,
and it's going to be really deliberate, and they're going to make this
so it's really going to be weaponized. Well, I agree with you and
those Depression era stories. You know, we still were technically tied to a
gold standard, so the credit wasn't as elastic as it is now. The
problem with now is that we're tethered to nothing. Credits more elastic, but
the fiat currency, the dollar itself, loses so much purchasing power every time
you do that. This new system is based off of debt. It's based
off of currency creation. You know, if you buy a house, that
money didn't exist before. So if you want to call it money, that
currency didn't exist before. They create it out of thin air to create that.
Loan, credit card transactions are the same way. So with this mountainous
sea of debt, and that's it creates new currency units, which expands the
money supply, which devalues the currency because it's backed by nothing. So I
think that's one of the that's the other. That's a flip side of this.
There might be elastic credit, you might be able to get something,
but it doesn't really matter. It's not going to have the same purchasing power
that it did, and it's going to constantly lose purchasing power. So that's
why you know, gold and silver ways for you to stop the music.
You know, like wead some musical chairs and you don't want to get left
holding the bag, That's right, Yeah, Deutsche Bank is talking about how
they think that they're going to drop interest rates a couple of about two and
seventy five basis points is their protection. Everybody is saying that interest rates are
going to ease up because it's an election year. They don't say because it's
an election year. Solinity says that we know that it's because it's an election
year. But they're going to do it one way or the other. You
know, might be an opportunity for some people to refinance their house if they
got something recently, but it's going to be something that is going to be
inflationary, and they're playing a very dangerous game when inflation is already this high
to do that, it could easily get away from them. Tell us a
little bit about what you think is going to happen in Argentina as you've been
looking at this. This is a guy who's going to get rid of their
central bank. I mean, is he going to wind up like jfk R.
Well, we get away with it. That's a good way to start.
You have to, you know, something that flip, that dramatic.
You know, because I've gotten so skeptical on elections anymore. I mean,
I look at him like, as any of this real. I don't know.
I'm skeptical of how all these things turn out. I'm skeptical of people
that rise to the top somehow, that maybe have a good idea, and
I'm like, how did you get there? Yeah, so, I guess
I'm jaded a little bit cynical, But I like it when even when somebody
rises at the top, like the Argentina's new president. I think it's interesting
because he's bringing a lot of ideas to the forefront that maybe people never heard
before. He's going around with his chains always just fun. I don't know
much about it. I can't endorse him or anything. I don't know much
about him, but I think his ideas as an anarchical capitalist, it's time
for us to discuss intervention in the state and central planning and what a central
bank is. I mean, you have all these financial wizards and masters of
the universe running around on Wall Street that don't even agree with free market principles.
Wait a minute, how did you get there? You know, it's
the same principle of you know, Carl Mark's the fifth plank of the Communist
manifesto is a central bank? Why are we following the communist manifesto and free
market. Yeah, so these are good things, you know status you know,
it's like we have all we lift up all these entrepreneurs. You put
up an Elon Musk, but he's tied to the hip, connected to the
hip with the state. Yeah, I don't know if that's really is that
a genius entrepreneur. I met some genius entrepreneurs when I was a kid growing
up in Texas watching my dad. I saw some and nobody was coming to
bail them out. They didn't have government contracts, you know. They built
stuff from the ground up, and they used they were creative, and they
had creative financing, and they had to use their brain and had a lot
of courage. I got to see that when I was a kid. So
I don't know much about the Argentina president new president, but I like the
fact that we're going to discuss not having a central bank exactly had that problems,
that's that's a key thing having. And they may not pull something on
them, may not pull out JFK because the IMF really wants something done that
is radical. So I think, as you point out, we don't really
know who's behind these people. And what they want to have done. But
the population is absolutely desperate when they've got one hundred and fifty percent inflation,
and so that a lot of times, I think when you've got a large
majority, they will find a way to deal with you later if they need
to. You know, they won't get in the way of the election and
stuff the ballots. We'll just deal with you later. So maybe that'll happen.
But in the meantime, he's perhaps going to educate South Americans in Austrian
economics and which he's a fan of. So that's that's good to have that
conversation and he is bringing a lot of ideas to them. But it'll be
interesting to see what happens down there. Tell us a little bit of what
is happening with wise Wolf Gold. Well, we're busy going into the holidays
as always, and uh, you know, I'm looking to buy more product.
That's while we have the I set up the second location here in Dennison,
Texas here just south of the Red River and on the border of Oklahoma,
trying to buy more products so we can put it into wolf Pack and
create a convenient location for people for just about an hour or so from the
trading floor here in Dallas. So we're busy. We're handling, uh you
know, small orders, large orders, and if you've got you know,
needs for precious metals, we can fill that for you. And of course
you got it at night dot Gold or you want to support the show,
you can click the link that says joined wolf Pack. I really want to
get to a thousand members. It's funny because I'll add ten and lose eight
and add twelve and lose. It's it's I'm right in this window where I
want to grow because the more people that join wolf Pack, the better deals
I can I can buy for everybody. And we've got you know, the
gold back notes are going in for we got Christmas rounds for silver, Santa
Claus stuff and other Christmas related silver coins are going into the wolf Pack.
And I've bought lots of fractional silver and fractional gold. So with these rising
prices, I mean, especially with gold and gold got about I think really
right on the edge of breaking its all time high again. I think it
was within like ten dollars in the last seventy two hours, and I think
this is probably going to be something that just continues and again, I would
remind people it's not because gold is going up necessarily in value. The demand
is high, not here in the US so much, but the demand is
high worldwide and the dollars losing purchasing power. So look at it more counterintuitively,
Yeah, we look at it. We talk about Central Manx accumulating gold
lote, but I saw that individual investors in China has gone up by sixteen
percent year every year in terms of demand for gold, and looking at this,
they've got economic problems as well. I was showing a ghost mall in
San Francisco, but I've shown videos of people walking through big towns like Shanghai
and Guangzhou where they have ghosted everybody with their lockdowns and their zero COVID stuff,
and now they're starting it again. So these people are hunkering down,
they're very concerned about what's happening. They're very conservative about it. And so
it's one of the reasons why gold is really going up in China much more
than you see it happening here in the US. The US is kind of
complacent about that. A lot of people think that these types of things are
not going to be happening here well, and if you really look into the
sixteen percent spike in year over year, A lot of those purchases are in
smaller quantity so people can fly with them, you know, the one ounce
gold bars and so on and so forth. It is an unprecedented time for
a currency revaluation likes we've never seen before. And I don't even know how
to use history as a guide, David. We've never really been down this
path as a country, as a modern economy, where we're going to lose
so much of our world reserve currency status and that's going to spill over into
our economy. I don't the repercussions. I don't know how far it will
go, but I think it'll be very deep. And I think Americans are
really kind of complacent about this. It's one of the reasons why gold is
so much cheaper here than it is in China, and it's actually created kind
of an arbitrage opportunity for the bigger investors in China to buy gold up more
cheaply here in the US and sell it in China because people, again,
people there have seen much shakier situations than we've seen here. Even though we've
been through twenty twenty still people just at their gut level, I don't believe
that war's going to come here. They don't believe the economic crisis is going
to come here. We haven't seen that in our lifetime or our parents' lifetime,
so we just don't think that's really going to happen. But the people
in China do. And so there's a big discrepant there with that kind of
demand. You know, demand is pulling it up there, but here it's
you know, the Fed will take care of it, or maybe Biden and
his geniuses will take care of this, right economic geniuses. Well, it's
always great talking to you, Tony, and again wolf Pack is a way
that you can set aside and save on a regular basis. And he's got
a lot of different levels that are set up there. He's got some uh,
he's got a community that is set up as well as being able to
take advantage of some discounts in terms of group buys that are there. But
of course he'll sell you anything in in quantity large or small. Thank you
so much, Tony for coming on. Always a pleasure talking to you,
and thank you for your support of the program as well. Appreciate that.
Thank you have a good day and remember David Knight dot gold. We'll take
a quick break and we'll be right back. Tell Alexa to add the APS
Radio skill and have access to the best channels anywhere, from country to blues,
classic hits to news. APS Radio curates incredibly diverse playlists for you to
enjoy. Get details at APS radio dot com. You're listening to the David
Night Show.