WEBVTT 1 00:00:04.919 --> 00:00:09.839 Let's welcome Tony Rderman of Whyswolf dot gold and Tony has set up David Night 2 00:00:09.919 --> 00:00:12.519 dot gold also take you there. Thank you for joining us, Tony, 3 00:00:12.560 --> 00:00:15.320 good to see you. Good to see you, David, Thanks for having 4 00:00:15.359 --> 00:00:17.519 me. Well, I tell you we're seeing a lot of things happening very 5 00:00:17.600 --> 00:00:23.640 quickly now with crypto, with gold, with interest rates. What do you 6 00:00:23.679 --> 00:00:27.559 see in terms of I just talked about these branch banks that are shutting down. 7 00:00:27.640 --> 00:00:31.559 That's my biggest concern, of course, is not just if people look 8 00:00:31.559 --> 00:00:35.079 at a time of inflation and we now have a lot of big banks and 9 00:00:35.119 --> 00:00:38.359 the economic analysts are saying, yeah, we think there's going to be credit 10 00:00:38.399 --> 00:00:41.399 easing. Gerald Celine has said that they're going to do it because of the 11 00:00:41.399 --> 00:00:44.719 election year, and of course that is true, and so they're going to 12 00:00:44.799 --> 00:00:48.119 ease the interest rates. That's going to cause more inflation. That always causes 13 00:00:48.200 --> 00:00:51.520 a gold to go up. They've been fighting gold by raising interest rates and 14 00:00:51.600 --> 00:00:57.280 an amazing amount. But the thing that really concerns me is this push towards 15 00:00:57.399 --> 00:01:00.520 CBDC in a cash the society. But what do you see in terms of 16 00:01:00.560 --> 00:01:04.400 the economic issues as you're watching it closely well, I think the banking issue 17 00:01:04.439 --> 00:01:08.319 is systemic. I think it's worldwide. You just had the CEO of UBS 18 00:01:08.480 --> 00:01:12.359 come out and say that they're going to need a rescue and out of Switzerland. 19 00:01:12.959 --> 00:01:17.280 This isn't good. Yeah, you know you saw the crypto banks failing, 20 00:01:17.400 --> 00:01:22.480 FTX, Silvergate, Silicon Valley Bank, all that, and how it 21 00:01:22.519 --> 00:01:26.319 affected the regional banks across the United States, and that prompted the Janet Yellen 22 00:01:26.879 --> 00:01:30.760 to clarify and say that they're not all banks are going to be bailed out 23 00:01:30.159 --> 00:01:34.640 in the new order when things do collapse. So I think what you're watching 24 00:01:36.079 --> 00:01:38.560 and the financial networks are never going to pick up on this until it's too 25 00:01:38.599 --> 00:01:44.079 late. You're seeing the price of gold arise in the face of the Federal 26 00:01:44.120 --> 00:01:49.480 Reserve raising interest rates the fastest rate in history that they've done. That they 27 00:01:49.480 --> 00:01:55.400 were able to curtail inflation a bit and cause the perception of a strong dollar 28 00:01:55.480 --> 00:02:00.680 I think globally. But gold continues to rise last year going into November day, 29 00:02:00.719 --> 00:02:04.239 but I believe the price of gold was just under seventeen hundred dollars an 30 00:02:04.280 --> 00:02:10.199 ounce. China has added hundreds of tons of gold to their holdings. The 31 00:02:10.439 --> 00:02:15.599 central banks around the world continue to buy gold at a record pace, and 32 00:02:15.639 --> 00:02:20.879 I think this is what's driving gold ultimately, it's demand. The United States 33 00:02:20.879 --> 00:02:23.879 and the Federal Reserve is not going to buy gold because the dollar competes with 34 00:02:24.000 --> 00:02:29.199 gold and value. And I think what you're watching is this is historic, 35 00:02:29.400 --> 00:02:34.159 is a revaluation of currencies, and central banks are going to gold for a 36 00:02:34.240 --> 00:02:37.680 safe haven. That's what the rich and the elite are doing. Because this 37 00:02:37.800 --> 00:02:42.280 system has cracks in it. It's very volatile. Yeah, and as you 38 00:02:42.319 --> 00:02:45.120 point out, you know they have raised the interest rates and dontern at a 39 00:02:45.199 --> 00:02:47.759 very fast rate. That's one of the reasons why banks are under stress is 40 00:02:47.800 --> 00:02:53.360 because they got caught with holding banks holding bonds and they couldn't trade them out 41 00:02:53.400 --> 00:02:58.280 quickly enough, and so that put them underwater with that stuff. But it's 42 00:02:58.319 --> 00:03:04.360 also created havoc in the real estate market. Goal prices are holding while their 43 00:03:04.439 --> 00:03:09.039 value while new home sales have dropped five point six percent in October. And 44 00:03:09.080 --> 00:03:15.000 it's not just that you've got cryptocurrency that is going through a correction as it's 45 00:03:15.000 --> 00:03:21.280 dipped down to thirty seven thousand dollars. Gold is hanging in there even though 46 00:03:21.319 --> 00:03:24.240 they have raised interest rates and the rest of this stuff. And so I 47 00:03:24.240 --> 00:03:29.199 think as people look at this and realize that an election year they're going to 48 00:03:29.240 --> 00:03:32.400 cut the interest rates significantly, it's only going to go up. But my 49 00:03:32.599 --> 00:03:37.680 key thing again keeps coming back to having it for privacy, having it, 50 00:03:38.080 --> 00:03:43.479 having something that is outside of what they're going to control, because who knows 51 00:03:43.479 --> 00:03:46.400 what they're going to do. You know, you see all these different branch 52 00:03:46.520 --> 00:03:50.280 banks shutting down. They could do anything they want. They could do it 53 00:03:50.360 --> 00:03:53.039 very very quickly. Well, they're going to build, in my opinion, 54 00:03:53.120 --> 00:03:55.520 and I think you'd agree with me, they're going to build the central bank 55 00:03:55.560 --> 00:04:01.479 digital currency on the backs of the bank that compete the most to audition to 56 00:04:01.560 --> 00:04:05.520 be the rollout for that. And I think that's what these big banks are 57 00:04:05.520 --> 00:04:09.960 doing, and they'll be buying up the smaller and regional banks. This is 58 00:04:10.000 --> 00:04:13.439 a consolidation game. I mean, ultimately the new World order is just about 59 00:04:13.439 --> 00:04:15.839 consolidating. So I think that's what you're going to see. These banks are 60 00:04:15.839 --> 00:04:20.279 going to be auditioning, competing to roll that out, and the regional banks 61 00:04:20.319 --> 00:04:25.279 are going to suffer. They'll be less and less focused on the individual or 62 00:04:25.439 --> 00:04:28.959 a customer service. I mean, we've lost that completely in this economy and 63 00:04:29.439 --> 00:04:34.040 the new age of things, with our stock market not based off profit anymore. 64 00:04:34.319 --> 00:04:39.959 So we've complained that ship has sailed a long time ago. So I'm 65 00:04:40.040 --> 00:04:45.120 really skeptical of the banking system right now. I don't tell people to not 66 00:04:45.240 --> 00:04:47.399 have a bank account, but you definitely need to be skeptical of all your 67 00:04:47.439 --> 00:04:53.439 holdings in one place or being in the system. I like having physical gold 68 00:04:53.480 --> 00:04:56.800 and silver. There's no counterparty risk. You hold that in your hand. 69 00:04:57.199 --> 00:05:00.040 That's something that's real. And you know, we can talk about crypto and 70 00:05:00.079 --> 00:05:02.839 we can talk about bitcoin. I still think bitcoin has a story to tell, 71 00:05:02.879 --> 00:05:09.279 there's something there to watch, but it's very volatile as well, So 72 00:05:09.560 --> 00:05:13.360 you know, you're right about just being outside of the system. And I 73 00:05:13.360 --> 00:05:16.600 think, really, David, it's so counterintuitive because we have to watch these 74 00:05:16.639 --> 00:05:19.720 prices. We're always watching the markets. But you know, gold went up 75 00:05:19.720 --> 00:05:26.160 two thousand percent from nineteen seventy one in nineteen seventy nine, but that's not 76 00:05:26.240 --> 00:05:30.319 because the gold went up in value. I think that's what you're having to 77 00:05:30.360 --> 00:05:33.720 come to terms with here because we're not taught this in school. They're never 78 00:05:33.759 --> 00:05:38.240 they're never going to let you in on this secret. The dollar constantly loses 79 00:05:38.319 --> 00:05:43.560 purchasing power and the amount of abuse that it's gone on, and just in 80 00:05:43.600 --> 00:05:47.279 the last five years unprecedented. You know, you got eighty percent of all 81 00:05:47.319 --> 00:05:53.040 the dollars ever created, We're created the last forty eight months. So yes, 82 00:05:53.160 --> 00:05:56.560 Jerome pal can raise interest rates, he can calm a lot of the 83 00:05:56.560 --> 00:06:00.560 fears of our global partners and people that use the dollar petro dollar, but 84 00:06:00.759 --> 00:06:04.720 ultimately it loses purchasing power and they're not going to be able to. I 85 00:06:04.720 --> 00:06:10.720 don't think they can simultaneously keep a strong dollar and lower interest rates because the 86 00:06:10.759 --> 00:06:15.560 economy right now is begging for cheap fiat currency debt and that's these big multinational 87 00:06:15.600 --> 00:06:23.319 corporations, these EESG corporations, environmental social governance that they're looking for cheap injections 88 00:06:23.319 --> 00:06:26.720 of cash. The FED is going to have to do something, and when 89 00:06:26.759 --> 00:06:30.959 they do that, you'll be able to go back and cash out these bonds 90 00:06:30.000 --> 00:06:35.600 with devalue dollars. And it's really going to wrek havoc across the spectrum of 91 00:06:35.600 --> 00:06:39.959 what the dollar entails. And I think that's what we're going to have to 92 00:06:40.000 --> 00:06:44.720 watch out for, just really putting too much faith in the system, and 93 00:06:46.040 --> 00:06:48.360 gold, in my opinion, is a safe haven and silver is a safe 94 00:06:48.399 --> 00:06:53.079 haven. Outside of that, well, you know, they've always targeted to 95 00:06:53.199 --> 00:06:56.839 have regulate. Their target. What they would like to see happen is inflation 96 00:06:56.920 --> 00:07:01.160 of about two percent, and because that helps them to monetize the debt, 97 00:07:01.199 --> 00:07:03.759 you know, they spend it and then they can pay it back with cheaper 98 00:07:03.839 --> 00:07:08.439 dollars. As you're pointing out, when you look at what happens with gold, 99 00:07:09.000 --> 00:07:12.560 gold is really holding its value. And we've talked about that in the 100 00:07:12.600 --> 00:07:15.319 past. You go back and look at something that somebody bought one hundred years 101 00:07:15.360 --> 00:07:19.319 ago, and it's pretty much the same amount of gold as it was one 102 00:07:19.360 --> 00:07:24.079 hundred years ago, and it's the dollar that is constantly losing its value. 103 00:07:24.079 --> 00:07:26.560 And that's my design. They've wanted that, but now it's kind of getting 104 00:07:26.600 --> 00:07:29.399 a little bit out of hand. It's way above two percent, and they're 105 00:07:29.399 --> 00:07:31.160 worry that is going to completely get out of hand. And we've seen that 106 00:07:31.199 --> 00:07:34.639 in our lifetime. And as you point out, there's quantitative easing where they 107 00:07:34.680 --> 00:07:39.240 increase the monetary supply, they play games with the interest rates. But I 108 00:07:39.279 --> 00:07:42.680 had David Stockman on the other day and he was talking about the fact he 109 00:07:42.720 --> 00:07:46.040 said, look at the massive stimulus that was put out there, that really 110 00:07:46.040 --> 00:07:50.120 does dwarf even their quantitative easing and the money that they threw into the repot 111 00:07:50.160 --> 00:07:53.160 markets and this and that. I mean, they're just printing this stuff up 112 00:07:53.160 --> 00:07:57.160 and throwing it at everybody. But the stuff that happened during the lockdown and 113 00:07:57.199 --> 00:08:00.639 that stimulus thing, that was a massive shock. And said, so what 114 00:08:01.279 --> 00:08:03.759 the central Bank's going to do? They've got themselves kind of over barrel, 115 00:08:03.879 --> 00:08:07.600 and what is the Federal Reserve going to do? They've they've gone from like 116 00:08:07.879 --> 00:08:11.720 nine hundred million to a nine trillion in a short period of time. Are 117 00:08:11.720 --> 00:08:15.319 they going to go from nine trillion to ninety trillion? Is that what they're 118 00:08:15.360 --> 00:08:16.120 going to do? And if they do that, what does it do to 119 00:08:16.199 --> 00:08:22.040 their currency? It's crazy, Well, it completely tanks it. I think 120 00:08:22.040 --> 00:08:26.560 we're at the end game of post nineteen seventy one currency model. And we 121 00:08:26.639 --> 00:08:30.920 went off the gold standard in nineteen seventy one. Goal was thirty five dollars. 122 00:08:30.959 --> 00:08:35.840 Announced We Kissinger, who just recently died, you know, he pegged 123 00:08:35.879 --> 00:08:41.600 the dollar to crude through the Saudi's That's what's known as the petro dollar. 124 00:08:41.840 --> 00:08:43.240 Yeah, he created them. Give him credit for that. They't. They 125 00:08:43.240 --> 00:08:46.519 didn't talk about that. And a either none of the places that's talked about 126 00:08:46.519 --> 00:08:50.919 how he created the petro dollar that's falling apart in this now. Oh, 127 00:08:50.919 --> 00:08:54.320 they didn't give him credit for that. Or Cambodia or a lot of the 128 00:08:54.360 --> 00:08:56.200 coups that took place in South America. Didn't give him credit for that. 129 00:08:56.799 --> 00:09:03.039 Bombings, yeah, the secret bombings. Yes, you know, you look 130 00:09:03.080 --> 00:09:05.200 at the seventies, David, I think something really interesting happened. I was 131 00:09:05.240 --> 00:09:09.600 listening to a podcast the other day with Robert Kiyosaki, a rich dad, 132 00:09:09.639 --> 00:09:11.320 poor dad. He had all these old guys on. I like listening to 133 00:09:11.320 --> 00:09:15.679 the old traders. They all got this is back in the seventies when the 134 00:09:15.759 --> 00:09:20.799 Hunt family put a run on silver and drove up the physical silver market. 135 00:09:20.879 --> 00:09:24.919 Now this was again, this is just off the heels of us coming off 136 00:09:24.960 --> 00:09:30.240 the gold standard. Gold was rising. Silver had always been pegged to the 137 00:09:30.279 --> 00:09:33.080 dollar as well, and so they started buying up. The Hunt family here 138 00:09:33.080 --> 00:09:37.799 in Texas started buying up physical silver. And I'm just in massive quantities. 139 00:09:39.639 --> 00:09:41.679 And you know, if you really look at it, the deep state most 140 00:09:41.799 --> 00:09:48.000 likely took out the Hunts. They used the financial system because they were exposing 141 00:09:48.080 --> 00:09:54.279 something very really the power structure did not want them to see, which was 142 00:09:54.360 --> 00:09:58.960 how weak the dollar was. So you know, you always see a dollar 143 00:09:58.960 --> 00:10:01.960 as a silver dollar. It's you know, zero point seventy three five ounces 144 00:10:01.200 --> 00:10:05.440 make one dollar. That's how it was from the founding of the country until 145 00:10:05.440 --> 00:10:09.240 we removed silver from our coinage. And so the Hunts were exposing that. 146 00:10:09.679 --> 00:10:13.360 And you know, Bunker Hunt said that the price of silver could go with 147 00:10:13.399 --> 00:10:18.320 fifty dollars an ounce in mid seventy nine, and of course it did in 148 00:10:18.440 --> 00:10:22.240 nineteen eighty went to fifty dollars an ounce, and the deep state came in 149 00:10:22.279 --> 00:10:26.519 along with the regulators and really took out and hobbled the Hunts for doing that. 150 00:10:26.600 --> 00:10:31.080 And no one ever again picked up that mantle, no one. I 151 00:10:31.120 --> 00:10:35.720 think it was Warren Buffett for a little while became a primary holder of silver, 152 00:10:35.799 --> 00:10:39.320 but didn't encourage people to buy us physical was not in that was not 153 00:10:39.360 --> 00:10:43.240 trying to drive up the price, just holding the same thing with JP Morgan. 154 00:10:43.600 --> 00:10:48.320 I think what we're about to I think this could be another silver boom, 155 00:10:48.399 --> 00:10:54.320 just based on the fact that this happened before when we've had a massive 156 00:10:54.360 --> 00:10:56.399 shift in our currency. This is another one of those shifts, except this 157 00:10:56.519 --> 00:11:01.840 time, David, I don't think they can put put the genie back in 158 00:11:01.879 --> 00:11:05.120 the bottle. I think there's not when you talk about going from nine trillion 159 00:11:05.159 --> 00:11:09.559 to ninety trillion on the balance sheet, like you just said, well, 160 00:11:09.559 --> 00:11:11.279 there's no more room. They have no more room to play with this. 161 00:11:11.360 --> 00:11:16.360 I mean you when the total debt of the US in nineteen eighty was less 162 00:11:16.360 --> 00:11:20.320 than a trillion dollars, So it's thirty three trillion in climbing rapid and then 163 00:11:22.279 --> 00:11:26.759 the wheels are completely there's no we don't even have fiscal hawks anymore. We 164 00:11:26.799 --> 00:11:31.279 don't talk about budgetary matters. We're one hundred and thirty percent of debt to 165 00:11:31.360 --> 00:11:35.840 GDP in this country. So I think this, you know, being outside 166 00:11:35.879 --> 00:11:37.360 the system, and I think this is why you know your show is so 167 00:11:37.399 --> 00:11:41.200 important. We're not talking about investments, folks, David and I don't really 168 00:11:41.240 --> 00:11:46.320 talk about investments. We're really talking about how to protect you and your family 169 00:11:46.799 --> 00:11:50.720 in the coming new order of things, the great reset. Okay, that's 170 00:11:50.759 --> 00:11:54.879 what we're talking about. So being outside of the systems is great. But 171 00:11:56.240 --> 00:12:00.799 also these are monetary matters, and I think that if you really look at 172 00:12:00.799 --> 00:12:05.759 the history here, there's an opportunity for you to protect yourself and your wealth 173 00:12:05.840 --> 00:12:11.960 against what's going to happen, a major devaluation and dedollarization the likes of which 174 00:12:11.960 --> 00:12:16.200 we've never seen. I think silver is going to be an important part of 175 00:12:16.200 --> 00:12:20.039 that story of just kind of thinking about that what happened in the last cycle, 176 00:12:20.080 --> 00:12:22.639 which was the end of the nineteen seventies. Yeah. I like the 177 00:12:22.639 --> 00:12:26.360 way that Bill Holter put it. He said, real at what's happening in 178 00:12:26.360 --> 00:12:31.279 Switzerland, as you mentioned with ubs, and then you've got credit. Swiss 179 00:12:31.399 --> 00:12:33.919 is going to try to go in there and bail them out, but they're 180 00:12:33.960 --> 00:12:37.759 not in that strong a position either. And he said, keep an eye 181 00:12:37.799 --> 00:12:39.519 on silver, which is what you're just saying. He said, it may 182 00:12:39.519 --> 00:12:46.200 be the pen in the gold grenade. I like the way that we pull 183 00:12:46.240 --> 00:12:50.879 out that silver pen. That gold grenade is going to explode. But again, 184 00:12:50.000 --> 00:12:54.480 you know, we've never had a situation before where the government is going 185 00:12:54.519 --> 00:12:58.840 to try to corral you into complete surveillance state. Just as NICKI Haley saying, 186 00:13:00.200 --> 00:13:01.720 to know your name if you're going to get on the internet, I've 187 00:13:01.720 --> 00:13:05.600 got to know your name, But when you look at the CBDC, it's 188 00:13:05.639 --> 00:13:07.879 even worse than that. It's like, you buy anything, I want to 189 00:13:07.919 --> 00:13:09.879 know your name, and i want to know what you're buying, and I'm 190 00:13:09.879 --> 00:13:13.159 going to keep an inventory of everything that you're buying, and I'm going to 191 00:13:13.159 --> 00:13:15.200 tell you whether or not you can buy anything in the future or not. 192 00:13:15.360 --> 00:13:16.679 I mean, you don't want to live in a situation like that. It 193 00:13:16.679 --> 00:13:22.039 may be necessary for us to have to have, you know, some CBDC 194 00:13:22.200 --> 00:13:24.559 credits so we can pay our government taxes. They may require it or something 195 00:13:24.600 --> 00:13:30.159 like that, but we don't have to be completely captured into that system. 196 00:13:30.240 --> 00:13:33.720 If we've got physical money that's outside of that. That's the key thing. 197 00:13:33.759 --> 00:13:37.240 I think you can be surprised I think your audience would be surprised too. 198 00:13:37.279 --> 00:13:41.240 I mean, I'm in the business, and I know how liquid gold and 199 00:13:41.279 --> 00:13:46.000 silver are. I mean I can trade my gold and silver anytime, day 200 00:13:46.080 --> 00:13:50.080 or night pretty much and turn it into fiat currency so to me. And 201 00:13:50.279 --> 00:13:54.159 historically gold is money, but I think you're in silver is money. But 202 00:13:54.360 --> 00:13:58.000 I think your audience would be surprised how many people will just trade in gold 203 00:13:58.039 --> 00:14:03.480 and silver, people that I use for contracts, people that do work for 204 00:14:03.600 --> 00:14:07.600 me. You would be surprised, folks, just how many people will trade 205 00:14:07.639 --> 00:14:11.960 directly, and if not, you can find a reputable dealer. You can 206 00:14:11.000 --> 00:14:16.320 find private individuals that will be able to buy from you. It's going to 207 00:14:16.320 --> 00:14:20.159 be so important in the future for us to have physical money outside of this 208 00:14:20.279 --> 00:14:24.320 system because I think there and I think David has talked about this many many 209 00:14:24.320 --> 00:14:30.159 times, they always use a crisis. This will be the perfect opportunity as 210 00:14:30.200 --> 00:14:33.919 an excuse. Never let a good crisis go to waste. They're going to 211 00:14:33.000 --> 00:14:37.799 use this coming crisis that they themselves perpetuated to bring in an usher in the 212 00:14:37.879 --> 00:14:41.240 central bank digital currency, in my opinion, yeah, oh yeah, And 213 00:14:41.279 --> 00:14:43.279 it'd be very easy for them to do that. And then once they get 214 00:14:43.279 --> 00:14:46.919 everything online, to think how easy it'll be for them to pull the plug 215 00:14:46.960 --> 00:14:50.679 on everything and how long is it going to take for everybody to really freak 216 00:14:50.720 --> 00:14:54.440 out? You know, we had yesterday we were out of electricity for about 217 00:14:54.679 --> 00:14:58.840 seven plus hours and the whole area, all the schools shut down, all 218 00:14:58.879 --> 00:15:01.840 the businesses shut down. I mean, everything just comes to a screeching halt. 219 00:15:03.039 --> 00:15:05.080 They can do that with electricity. They can do it with the internet. 220 00:15:05.200 --> 00:15:09.799 You know, if you get everybody is transferring everything on the internet. 221 00:15:09.840 --> 00:15:11.600 As they get us more and more under central control, they can pull a 222 00:15:11.600 --> 00:15:16.080 plug on everything so easily. Now. And as you're talking about being able 223 00:15:16.080 --> 00:15:22.120 to trade outside of this very vulnerable system that they've got, it's just like 224 00:15:22.399 --> 00:15:24.960 our supply chain, you know, as we saw during twenty twenty. You 225 00:15:26.039 --> 00:15:31.399 have this wonderful idea of just in time delivery, and it's working great, 226 00:15:31.440 --> 00:15:33.559 and the shelves are full, and then all of a sudden, you put 227 00:15:33.559 --> 00:15:35.000 a kink in it and you break part of that chain, and it all 228 00:15:35.039 --> 00:15:39.960 falls apart, very very rapidly, because it is so complex, and because 229 00:15:39.960 --> 00:15:45.919 they've set up something that has so many different travel components in each length of 230 00:15:45.960 --> 00:15:50.000 those chains, and so you break that and now you've got a big crisis 231 00:15:50.000 --> 00:15:54.080 on your hand. So these complex systems that they have designed are very easy 232 00:15:54.200 --> 00:16:00.080 to sabotage. They can fall apart on their own, and so it's important 233 00:16:00.080 --> 00:16:03.840 to be on the outside of that. And I think about back in the 234 00:16:03.879 --> 00:16:07.480 depression, and you probably know some stories about this as well, Tony, 235 00:16:08.120 --> 00:16:11.159 some of the cities that would get together and they would create their own local 236 00:16:11.159 --> 00:16:15.919 community currency. You had some of them, They still have some of these 237 00:16:15.960 --> 00:16:18.720 and museum pieces where they would make, you know, wooden nickels and other 238 00:16:18.840 --> 00:16:22.519 things like that, but it would be local tokens that people would use in 239 00:16:22.559 --> 00:16:27.159 a sense kind of a way of doing barter in exchange within that community because 240 00:16:27.559 --> 00:16:32.039 you know, the drying up of the money at that point in time. 241 00:16:32.120 --> 00:16:34.399 I don't know, you could argue that it was deliberate or whatever, but 242 00:16:34.440 --> 00:16:40.279 the bottom line is it wasn't as structured and planned and deliberate as their move 243 00:16:40.360 --> 00:16:42.279 to try to push us into a cashless society is. You know, it's 244 00:16:42.320 --> 00:16:48.080 a lot of bad economic planning that was part of it. May have been 245 00:16:48.120 --> 00:16:51.320 some conspiracy as part of that as well, but you know, people had 246 00:16:51.360 --> 00:16:56.600 to find a way to exist outside of that financial system of the Federal Reserve 247 00:16:56.720 --> 00:16:59.840 because they completely screwed everything up. This is going to be more bi it, 248 00:17:00.279 --> 00:17:03.039 and it's going to be really deliberate, and they're going to make this 249 00:17:03.639 --> 00:17:06.920 so it's really going to be weaponized. Well, I agree with you and 250 00:17:06.960 --> 00:17:10.960 those Depression era stories. You know, we still were technically tied to a 251 00:17:11.000 --> 00:17:15.079 gold standard, so the credit wasn't as elastic as it is now. The 252 00:17:15.119 --> 00:17:18.759 problem with now is that we're tethered to nothing. Credits more elastic, but 253 00:17:18.839 --> 00:17:23.160 the fiat currency, the dollar itself, loses so much purchasing power every time 254 00:17:23.200 --> 00:17:27.480 you do that. This new system is based off of debt. It's based 255 00:17:27.519 --> 00:17:30.720 off of currency creation. You know, if you buy a house, that 256 00:17:30.799 --> 00:17:33.279 money didn't exist before. So if you want to call it money, that 257 00:17:33.319 --> 00:17:37.960 currency didn't exist before. They create it out of thin air to create that. 258 00:17:37.079 --> 00:17:41.519 Loan, credit card transactions are the same way. So with this mountainous 259 00:17:41.559 --> 00:17:45.319 sea of debt, and that's it creates new currency units, which expands the 260 00:17:45.359 --> 00:17:49.720 money supply, which devalues the currency because it's backed by nothing. So I 261 00:17:49.720 --> 00:17:52.680 think that's one of the that's the other. That's a flip side of this. 262 00:17:52.799 --> 00:17:56.640 There might be elastic credit, you might be able to get something, 263 00:17:56.759 --> 00:18:00.039 but it doesn't really matter. It's not going to have the same purchasing power 264 00:18:00.079 --> 00:18:03.720 that it did, and it's going to constantly lose purchasing power. So that's 265 00:18:03.720 --> 00:18:07.000 why you know, gold and silver ways for you to stop the music. 266 00:18:07.039 --> 00:18:10.640 You know, like wead some musical chairs and you don't want to get left 267 00:18:10.920 --> 00:18:14.880 holding the bag, That's right, Yeah, Deutsche Bank is talking about how 268 00:18:14.920 --> 00:18:18.839 they think that they're going to drop interest rates a couple of about two and 269 00:18:18.880 --> 00:18:23.680 seventy five basis points is their protection. Everybody is saying that interest rates are 270 00:18:23.680 --> 00:18:27.519 going to ease up because it's an election year. They don't say because it's 271 00:18:27.519 --> 00:18:30.720 an election year. Solinity says that we know that it's because it's an election 272 00:18:30.839 --> 00:18:34.440 year. But they're going to do it one way or the other. You 273 00:18:34.480 --> 00:18:37.480 know, might be an opportunity for some people to refinance their house if they 274 00:18:37.519 --> 00:18:41.240 got something recently, but it's going to be something that is going to be 275 00:18:41.519 --> 00:18:47.519 inflationary, and they're playing a very dangerous game when inflation is already this high 276 00:18:47.559 --> 00:18:51.000 to do that, it could easily get away from them. Tell us a 277 00:18:51.039 --> 00:18:55.519 little bit about what you think is going to happen in Argentina as you've been 278 00:18:55.559 --> 00:18:56.880 looking at this. This is a guy who's going to get rid of their 279 00:18:56.920 --> 00:19:02.359 central bank. I mean, is he going to wind up like jfk R. 280 00:19:03.240 --> 00:19:06.039 Well, we get away with it. That's a good way to start. 281 00:19:06.920 --> 00:19:11.160 You have to, you know, something that flip, that dramatic. 282 00:19:11.480 --> 00:19:15.079 You know, because I've gotten so skeptical on elections anymore. I mean, 283 00:19:15.119 --> 00:19:18.839 I look at him like, as any of this real. I don't know. 284 00:19:18.960 --> 00:19:22.240 I'm skeptical of how all these things turn out. I'm skeptical of people 285 00:19:22.279 --> 00:19:25.559 that rise to the top somehow, that maybe have a good idea, and 286 00:19:25.680 --> 00:19:27.279 I'm like, how did you get there? Yeah, so, I guess 287 00:19:27.319 --> 00:19:32.119 I'm jaded a little bit cynical, But I like it when even when somebody 288 00:19:32.440 --> 00:19:36.680 rises at the top, like the Argentina's new president. I think it's interesting 289 00:19:36.759 --> 00:19:40.279 because he's bringing a lot of ideas to the forefront that maybe people never heard 290 00:19:40.319 --> 00:19:44.799 before. He's going around with his chains always just fun. I don't know 291 00:19:44.880 --> 00:19:47.960 much about it. I can't endorse him or anything. I don't know much 292 00:19:47.960 --> 00:19:52.079 about him, but I think his ideas as an anarchical capitalist, it's time 293 00:19:52.079 --> 00:19:56.720 for us to discuss intervention in the state and central planning and what a central 294 00:19:56.720 --> 00:20:00.440 bank is. I mean, you have all these financial wizards and masters of 295 00:20:00.480 --> 00:20:04.759 the universe running around on Wall Street that don't even agree with free market principles. 296 00:20:06.000 --> 00:20:07.279 Wait a minute, how did you get there? You know, it's 297 00:20:07.680 --> 00:20:12.480 the same principle of you know, Carl Mark's the fifth plank of the Communist 298 00:20:12.480 --> 00:20:17.880 manifesto is a central bank? Why are we following the communist manifesto and free 299 00:20:17.880 --> 00:20:21.640 market. Yeah, so these are good things, you know status you know, 300 00:20:21.680 --> 00:20:25.640 it's like we have all we lift up all these entrepreneurs. You put 301 00:20:25.680 --> 00:20:29.319 up an Elon Musk, but he's tied to the hip, connected to the 302 00:20:29.359 --> 00:20:30.920 hip with the state. Yeah, I don't know if that's really is that 303 00:20:30.960 --> 00:20:37.839 a genius entrepreneur. I met some genius entrepreneurs when I was a kid growing 304 00:20:37.880 --> 00:20:41.440 up in Texas watching my dad. I saw some and nobody was coming to 305 00:20:41.440 --> 00:20:44.319 bail them out. They didn't have government contracts, you know. They built 306 00:20:44.319 --> 00:20:47.000 stuff from the ground up, and they used they were creative, and they 307 00:20:47.039 --> 00:20:49.400 had creative financing, and they had to use their brain and had a lot 308 00:20:49.440 --> 00:20:52.359 of courage. I got to see that when I was a kid. So 309 00:20:53.279 --> 00:20:57.079 I don't know much about the Argentina president new president, but I like the 310 00:20:57.160 --> 00:21:03.920 fact that we're going to discuss not having a central bank exactly had that problems, 311 00:21:03.039 --> 00:21:07.000 that's that's a key thing having. And they may not pull something on 312 00:21:07.079 --> 00:21:11.200 them, may not pull out JFK because the IMF really wants something done that 313 00:21:11.319 --> 00:21:14.880 is radical. So I think, as you point out, we don't really 314 00:21:14.920 --> 00:21:18.519 know who's behind these people. And what they want to have done. But 315 00:21:18.880 --> 00:21:22.920 the population is absolutely desperate when they've got one hundred and fifty percent inflation, 316 00:21:22.480 --> 00:21:27.200 and so that a lot of times, I think when you've got a large 317 00:21:27.799 --> 00:21:32.400 majority, they will find a way to deal with you later if they need 318 00:21:32.440 --> 00:21:34.079 to. You know, they won't get in the way of the election and 319 00:21:34.119 --> 00:21:37.200 stuff the ballots. We'll just deal with you later. So maybe that'll happen. 320 00:21:37.200 --> 00:21:45.079 But in the meantime, he's perhaps going to educate South Americans in Austrian 321 00:21:45.119 --> 00:21:49.079 economics and which he's a fan of. So that's that's good to have that 322 00:21:49.119 --> 00:21:56.559 conversation and he is bringing a lot of ideas to them. But it'll be 323 00:21:56.559 --> 00:22:00.839 interesting to see what happens down there. Tell us a little bit of what 324 00:22:00.920 --> 00:22:07.000 is happening with wise Wolf Gold. Well, we're busy going into the holidays 325 00:22:07.359 --> 00:22:11.319 as always, and uh, you know, I'm looking to buy more product. 326 00:22:11.400 --> 00:22:15.319 That's while we have the I set up the second location here in Dennison, 327 00:22:15.400 --> 00:22:18.240 Texas here just south of the Red River and on the border of Oklahoma, 328 00:22:18.960 --> 00:22:22.160 trying to buy more products so we can put it into wolf Pack and 329 00:22:22.519 --> 00:22:26.200 create a convenient location for people for just about an hour or so from the 330 00:22:26.240 --> 00:22:32.359 trading floor here in Dallas. So we're busy. We're handling, uh you 331 00:22:32.359 --> 00:22:34.119 know, small orders, large orders, and if you've got you know, 332 00:22:34.200 --> 00:22:37.279 needs for precious metals, we can fill that for you. And of course 333 00:22:37.359 --> 00:22:41.759 you got it at night dot Gold or you want to support the show, 334 00:22:41.240 --> 00:22:45.680 you can click the link that says joined wolf Pack. I really want to 335 00:22:45.720 --> 00:22:48.039 get to a thousand members. It's funny because I'll add ten and lose eight 336 00:22:48.119 --> 00:22:52.880 and add twelve and lose. It's it's I'm right in this window where I 337 00:22:52.880 --> 00:22:56.039 want to grow because the more people that join wolf Pack, the better deals 338 00:22:56.079 --> 00:23:00.480 I can I can buy for everybody. And we've got you know, the 339 00:23:00.519 --> 00:23:06.079 gold back notes are going in for we got Christmas rounds for silver, Santa 340 00:23:06.119 --> 00:23:11.000 Claus stuff and other Christmas related silver coins are going into the wolf Pack. 341 00:23:11.039 --> 00:23:17.720 And I've bought lots of fractional silver and fractional gold. So with these rising 342 00:23:17.759 --> 00:23:22.480 prices, I mean, especially with gold and gold got about I think really 343 00:23:22.640 --> 00:23:26.240 right on the edge of breaking its all time high again. I think it 344 00:23:26.279 --> 00:23:30.400 was within like ten dollars in the last seventy two hours, and I think 345 00:23:30.440 --> 00:23:33.519 this is probably going to be something that just continues and again, I would 346 00:23:33.559 --> 00:23:38.000 remind people it's not because gold is going up necessarily in value. The demand 347 00:23:38.079 --> 00:23:41.400 is high, not here in the US so much, but the demand is 348 00:23:41.480 --> 00:23:47.599 high worldwide and the dollars losing purchasing power. So look at it more counterintuitively, 349 00:23:47.880 --> 00:23:51.559 Yeah, we look at it. We talk about Central Manx accumulating gold 350 00:23:51.599 --> 00:23:56.519 lote, but I saw that individual investors in China has gone up by sixteen 351 00:23:56.559 --> 00:24:00.519 percent year every year in terms of demand for gold, and looking at this, 352 00:24:00.599 --> 00:24:03.799 they've got economic problems as well. I was showing a ghost mall in 353 00:24:03.839 --> 00:24:11.279 San Francisco, but I've shown videos of people walking through big towns like Shanghai 354 00:24:11.359 --> 00:24:18.039 and Guangzhou where they have ghosted everybody with their lockdowns and their zero COVID stuff, 355 00:24:18.039 --> 00:24:19.640 and now they're starting it again. So these people are hunkering down, 356 00:24:19.640 --> 00:24:23.960 they're very concerned about what's happening. They're very conservative about it. And so 357 00:24:23.960 --> 00:24:27.079 it's one of the reasons why gold is really going up in China much more 358 00:24:27.119 --> 00:24:30.240 than you see it happening here in the US. The US is kind of 359 00:24:30.599 --> 00:24:33.680 complacent about that. A lot of people think that these types of things are 360 00:24:33.680 --> 00:24:37.359 not going to be happening here well, and if you really look into the 361 00:24:38.079 --> 00:24:42.160 sixteen percent spike in year over year, A lot of those purchases are in 362 00:24:42.240 --> 00:24:45.839 smaller quantity so people can fly with them, you know, the one ounce 363 00:24:45.839 --> 00:24:52.240 gold bars and so on and so forth. It is an unprecedented time for 364 00:24:52.480 --> 00:24:56.480 a currency revaluation likes we've never seen before. And I don't even know how 365 00:24:56.519 --> 00:25:00.599 to use history as a guide, David. We've never really been down this 366 00:25:00.759 --> 00:25:04.079 path as a country, as a modern economy, where we're going to lose 367 00:25:04.599 --> 00:25:08.200 so much of our world reserve currency status and that's going to spill over into 368 00:25:08.240 --> 00:25:11.880 our economy. I don't the repercussions. I don't know how far it will 369 00:25:11.880 --> 00:25:15.680 go, but I think it'll be very deep. And I think Americans are 370 00:25:15.680 --> 00:25:18.400 really kind of complacent about this. It's one of the reasons why gold is 371 00:25:18.400 --> 00:25:22.160 so much cheaper here than it is in China, and it's actually created kind 372 00:25:22.200 --> 00:25:27.720 of an arbitrage opportunity for the bigger investors in China to buy gold up more 373 00:25:27.839 --> 00:25:33.000 cheaply here in the US and sell it in China because people, again, 374 00:25:33.079 --> 00:25:37.279 people there have seen much shakier situations than we've seen here. Even though we've 375 00:25:37.279 --> 00:25:44.000 been through twenty twenty still people just at their gut level, I don't believe 376 00:25:44.119 --> 00:25:47.240 that war's going to come here. They don't believe the economic crisis is going 377 00:25:47.279 --> 00:25:52.880 to come here. We haven't seen that in our lifetime or our parents' lifetime, 378 00:25:52.000 --> 00:25:56.960 so we just don't think that's really going to happen. But the people 379 00:25:56.960 --> 00:26:00.000 in China do. And so there's a big discrepant there with that kind of 380 00:26:00.000 --> 00:26:04.480 demand. You know, demand is pulling it up there, but here it's 381 00:26:04.960 --> 00:26:07.359 you know, the Fed will take care of it, or maybe Biden and 382 00:26:07.359 --> 00:26:15.160 his geniuses will take care of this, right economic geniuses. Well, it's 383 00:26:15.200 --> 00:26:18.799 always great talking to you, Tony, and again wolf Pack is a way 384 00:26:18.839 --> 00:26:22.880 that you can set aside and save on a regular basis. And he's got 385 00:26:22.880 --> 00:26:26.200 a lot of different levels that are set up there. He's got some uh, 386 00:26:26.200 --> 00:26:30.599 he's got a community that is set up as well as being able to 387 00:26:30.599 --> 00:26:33.880 take advantage of some discounts in terms of group buys that are there. But 388 00:26:33.920 --> 00:26:38.160 of course he'll sell you anything in in quantity large or small. Thank you 389 00:26:38.200 --> 00:26:41.279 so much, Tony for coming on. Always a pleasure talking to you, 390 00:26:41.680 --> 00:26:45.680 and thank you for your support of the program as well. Appreciate that. 391 00:26:45.799 --> 00:26:49.119 Thank you have a good day and remember David Knight dot gold. We'll take 392 00:26:49.119 --> 00:26:53.839 a quick break and we'll be right back. Tell Alexa to add the APS 393 00:26:53.960 --> 00:26:59.400 Radio skill and have access to the best channels anywhere, from country to blues, 394 00:26:59.559 --> 00:27:03.440 classic hits to news. APS Radio curates incredibly diverse playlists for you to 395 00:27:03.599 --> 00:28:23.519 enjoy. Get details at APS radio dot com. You're listening to the David 396 00:28:23.680 --> 00:28:25.200 Night Show.