WEBVTT 1 00:00:07.080 --> 00:00:09.759 Welcome back, folks, and joining us now is Tony Ardeban 2 00:00:09.960 --> 00:00:13.039 of Wisewolf Gold and he has currently set up David 3 00:00:13.119 --> 00:00:15.519 Knight dot Gold, which you'll let him know that you're 4 00:00:15.519 --> 00:00:19.199 coming through us. Tony. It's been an amazing time for gold, 5 00:00:19.239 --> 00:00:22.839 hasn't it? And it's still going. It's it's crazy. 6 00:00:23.160 --> 00:00:25.399 Every single week when I come back, there's a new 7 00:00:25.480 --> 00:00:28.519 there's a new all time high. And last week I said, 8 00:00:28.559 --> 00:00:30.719 you know, the dollar has lost forty percent of its 9 00:00:30.719 --> 00:00:33.960 purchasing power against gold. We'll make that forty five percent. 10 00:00:34.479 --> 00:00:39.359 We've got even more new all time highs gold. I 11 00:00:39.399 --> 00:00:42.799 didn't you know, I didn't foresee this this price range 12 00:00:42.840 --> 00:00:46.119 here in the last six months. I definitely all past 13 00:00:46.159 --> 00:00:50.520 thirty five hundred, but we broke thirty nine hundred temporarily 14 00:00:51.359 --> 00:00:53.840 this last couple of days, last forty eight hours, I believe, 15 00:00:53.880 --> 00:00:55.799 so really unpressd in the. 16 00:00:55.799 --> 00:00:57.640 Yeah, it's getting close to the four thousand number of 17 00:00:57.640 --> 00:01:00.960 the people talking about and of course it's the uncertainty, 18 00:01:01.079 --> 00:01:03.439 the concern you whether you're talking about tariffs or other 19 00:01:03.520 --> 00:01:09.439 economic policy, and people concerned about anytime you see a 20 00:01:09.439 --> 00:01:11.439 lot of bad news about the economy or people are 21 00:01:11.480 --> 00:01:15.239 concerned about war. This is the people turned to gold 22 00:01:15.359 --> 00:01:18.120 and those types of times. So yesterday you had futures 23 00:01:18.239 --> 00:01:22.439 drop and gold jumps as the government shutdown begins. So 24 00:01:22.599 --> 00:01:26.359 bad news really shoots gold up like a fire hose. 25 00:01:26.400 --> 00:01:28.400 And of course along with bad news, I think about 26 00:01:28.439 --> 00:01:32.519 this AI bubble that I think is long overdue to pop, 27 00:01:33.040 --> 00:01:36.079 and I imagine when that bubble pops, it's gonna really 28 00:01:36.159 --> 00:01:38.840 shoot gold up sky high. What do you think what 29 00:01:38.959 --> 00:01:40.519 happened with I think sebust. 30 00:01:42.079 --> 00:01:45.480 I think so too. I think that a lot of 31 00:01:45.519 --> 00:01:48.879 institutional funds are flowing into gold right now because at 32 00:01:48.920 --> 00:01:50.680 the end of the day, gold is money. Gold is 33 00:01:50.680 --> 00:01:54.200 a monetary metals. So is silver. But there's a lot 34 00:01:54.200 --> 00:01:56.519 of different factors that we'll talk a little bit about 35 00:01:56.560 --> 00:01:59.079 the price of silver too. That's something I think you 36 00:01:59.120 --> 00:02:01.359 knew what we need to pay attention to. But gold 37 00:02:01.439 --> 00:02:04.400 is money and it houses that value. And you're talking 38 00:02:04.439 --> 00:02:08.800 about fear, uncertainty, and doubt, the FUD, and that comes up, 39 00:02:08.919 --> 00:02:12.199 people run to gold. That's historically always been on. 40 00:02:12.319 --> 00:02:14.680 The two things that have helped the helped gold have 41 00:02:14.800 --> 00:02:16.400 been the FED and the FUD. 42 00:02:17.000 --> 00:02:19.719 To the Fed and the FUD, that's right, and the 43 00:02:19.800 --> 00:02:23.080 devaluation of that. It's interesting. There was another article that 44 00:02:23.120 --> 00:02:26.319 floated around last week after I was on with you 45 00:02:26.439 --> 00:02:29.120 and the price of goal hitting. It's alt I think 46 00:02:29.199 --> 00:02:32.560 over thirty eight one hundred dollars an ounce. It caused 47 00:02:32.639 --> 00:02:35.560 the gold reserves of the United States to pass one 48 00:02:35.639 --> 00:02:38.759 trillion in value if you believe that it's there the 49 00:02:38.919 --> 00:02:42.319 over eight thousand tons. Supposely there's over four thousand tons that. 50 00:02:42.400 --> 00:02:44.159 Remember the Fort Knox. 51 00:02:44.560 --> 00:02:46.120 Yeah, and I talked about it. I said, well, maybe 52 00:02:46.120 --> 00:02:48.599 that was what the Fort Knox thinks, saying, well, audit 53 00:02:48.639 --> 00:02:50.439 the gold there. Maybe that was what it was about. 54 00:02:50.439 --> 00:02:52.439 Maybe we'll see if it's there, and if it's there, 55 00:02:52.479 --> 00:02:55.319 we'll market the market. Maybe we'll do it even if 56 00:02:55.319 --> 00:02:55.960 it's not there. 57 00:02:57.159 --> 00:03:00.159 We passed the one trillion dollar at least valuation and 58 00:03:00.199 --> 00:03:03.879 mark for those over eight thousand tons that we supposedly have. Yeah, 59 00:03:04.879 --> 00:03:08.800 as the United States. But this is only going to continue. David. 60 00:03:08.800 --> 00:03:11.120 This isn't a bubble. Gold's not a bubble. This isn't 61 00:03:11.159 --> 00:03:13.080 I don't even know if you would consider this a 62 00:03:13.120 --> 00:03:18.319 bull market because none of the factors that have changed 63 00:03:18.319 --> 00:03:22.400 gold's price and us really changing it now, like the 64 00:03:22.439 --> 00:03:25.560 interest rates. When they raised interest rates, the price of 65 00:03:25.599 --> 00:03:27.719 gold went up. When they cut interest rates, the price 66 00:03:27.719 --> 00:03:30.639 of gold goes up. It continues to go up because 67 00:03:30.639 --> 00:03:34.639 of the monetary weakness in the dollar itself in fie 68 00:03:34.680 --> 00:03:35.240 O currency. 69 00:03:35.319 --> 00:03:36.759 One of the things that came out of that article 70 00:03:36.960 --> 00:03:39.159 was one of the things you consonly said, well, the 71 00:03:39.360 --> 00:03:42.360 FED doesn't own any gold, which is true in the 72 00:03:42.479 --> 00:03:45.319 United States. It's not the central bank that owns the gold. 73 00:03:45.319 --> 00:03:48.439 It's actually the Treasury that has the gold. And so 74 00:03:49.240 --> 00:03:51.400 they're looking at this as being an accounting trick that 75 00:03:51.400 --> 00:03:53.560 they could do if they just they've got it on 76 00:03:53.599 --> 00:03:56.680 their books at some historically low point. I don't know 77 00:03:56.719 --> 00:03:58.599 if they've got it on there it's thirty five dollars 78 00:03:58.680 --> 00:04:00.240 or what they've got it on there. For it was 79 00:04:00.280 --> 00:04:02.639 thirty five dollars for years and years and years after 80 00:04:03.400 --> 00:04:08.120 Nixon made it illegal. And so anyway, the you know, 81 00:04:08.439 --> 00:04:11.919 when they do that type of thing, it'll be interesting 82 00:04:12.039 --> 00:04:15.520 to see how that would affect gold. In that article, 83 00:04:15.560 --> 00:04:17.439 they thought that it would make gold go up, and 84 00:04:17.480 --> 00:04:20.240 I didn't really understand how that mechanism would work, except 85 00:04:20.279 --> 00:04:23.120 for the fact that if you highly publicize the fact 86 00:04:23.160 --> 00:04:25.639 that you know, hey, here's the new We found a 87 00:04:25.680 --> 00:04:29.800 trillion dollars here because we bought gold and we held 88 00:04:29.800 --> 00:04:31.839 it for a long time. I would imagine that would 89 00:04:31.879 --> 00:04:36.000 be a big pr factor for people pushing gold as 90 00:04:37.160 --> 00:04:38.360 you know, you want to do the same thing that 91 00:04:38.399 --> 00:04:41.560 the Treasury did. You know, just hold gold for a 92 00:04:41.560 --> 00:04:43.319 long period of time and you'll see the value go 93 00:04:43.399 --> 00:04:45.600 up as the dollar goes down. The value of gold 94 00:04:45.639 --> 00:04:48.680 isn't changing. The value of the dollar is changing. But 95 00:04:49.519 --> 00:04:51.160 I guess that would be the mechanism by which it 96 00:04:51.160 --> 00:04:51.920 would help gold. 97 00:04:54.040 --> 00:04:57.040 I think this metric goes back to two thousand and eight, 98 00:04:57.120 --> 00:05:01.000 two thousand and nine, the GFC, the Great Actial Crisis 99 00:05:01.120 --> 00:05:03.800 or the Great Recession, whatever you want to call it, 100 00:05:03.839 --> 00:05:06.240 when they had tarp funds and the bailouts, and that 101 00:05:06.360 --> 00:05:10.879 was the first real quantitative easing experiment that we did, 102 00:05:10.920 --> 00:05:12.879 the first real one that was out in the open, 103 00:05:13.160 --> 00:05:17.079 and then just massive and after at that time, David, 104 00:05:17.160 --> 00:05:21.240 if you look at the metrics, zero percent gold ordering 105 00:05:21.279 --> 00:05:24.759 by central banks at that time, almost no central banks 106 00:05:24.759 --> 00:05:27.040 around the world were buying gold. Now it's off the charts. 107 00:05:27.720 --> 00:05:30.720 So if you throw in the term the Great Reset, 108 00:05:31.639 --> 00:05:34.680 this is the end of whatever. Nineteen seventy one started 109 00:05:34.680 --> 00:05:37.279 the going off the gold standard of the FIAT experiment. 110 00:05:37.319 --> 00:05:39.560 In my opinion and what I read, I think that 111 00:05:39.759 --> 00:05:42.959 we are reaching this point where they're going to splip 112 00:05:43.000 --> 00:05:45.079 the script. And that's why a lot it's not just 113 00:05:45.120 --> 00:05:48.600 the United States that hasn't revalued their ounces of gold 114 00:05:48.680 --> 00:05:50.920 from thirty five dollars an ounce. There's lots of countries 115 00:05:50.959 --> 00:05:54.199 around the world. They're never over forty dollars an ounce. 116 00:05:54.240 --> 00:05:57.000 They keep it there on the books that way, and 117 00:05:57.079 --> 00:05:59.519 that's kind of that's been a mystery. Why don't revalue 118 00:05:59.560 --> 00:06:01.240 Why not show it on your books that way? I 119 00:06:01.279 --> 00:06:05.480 think it's because this is an accumulation phase. I think 120 00:06:05.480 --> 00:06:08.480 this is accumulation phase, not only for gold, but for 121 00:06:08.560 --> 00:06:11.920 silver as well. And I can promise you right now. 122 00:06:11.959 --> 00:06:14.600 But the being in a business with in two different 123 00:06:14.600 --> 00:06:17.120 states and being a national dealer. I'm a small dealer, 124 00:06:17.120 --> 00:06:21.600 but I'm national. These the purchases from people are not 125 00:06:21.759 --> 00:06:24.600 happening in the way they were two years ago. But 126 00:06:24.639 --> 00:06:27.560 we are seeing these massive price increases. So a lot 127 00:06:27.639 --> 00:06:30.600 of this stuff's flowing to wholesalers and then it's flowing 128 00:06:30.680 --> 00:06:34.480 up to central banks or even with silver, it's flowing 129 00:06:34.519 --> 00:06:38.199 through from dealers, from the public. The public's trading in 130 00:06:38.279 --> 00:06:41.439 their silver and it's going to institutions. I'm seeing it. 131 00:06:41.519 --> 00:06:43.600 I mean, we're just buying massive amounts of silver. It's 132 00:06:43.600 --> 00:06:46.480 hard to keep up with. My job has gotten really 133 00:06:46.480 --> 00:06:49.240 strange because even my crew was saying yesterday they're like, 134 00:06:49.560 --> 00:06:52.040 we have to recheck our math because they're not used 135 00:06:52.040 --> 00:06:54.600 to these numbers. They're like, that can't be right. Announce 136 00:06:54.639 --> 00:06:56.519 of what you know. They'll look at the price of 137 00:06:56.560 --> 00:06:59.560 a silver half dollar or a dime or something and say, well, 138 00:06:59.639 --> 00:07:01.439 that didn't can't be right. They'll run the math again, 139 00:07:01.560 --> 00:07:03.079 or they'll buy a ring and not they'll run the 140 00:07:03.079 --> 00:07:05.879 math again because it's not We stayed in this kind 141 00:07:05.879 --> 00:07:09.279 of stable price range. If you recall, I mean we 142 00:07:09.279 --> 00:07:13.399 were talking in two thousand and twenty two, David about 143 00:07:13.439 --> 00:07:18.000 the Silicon Valley Bank failure, FTX, all that stuff, and 144 00:07:18.040 --> 00:07:20.560 the price of goal is about sixteen hundred dollars an ounce. 145 00:07:21.160 --> 00:07:23.759 So now we're nearing four thousand dollars an ounce, and 146 00:07:24.600 --> 00:07:27.199 a lot of the things are beginning to crack, like 147 00:07:27.959 --> 00:07:31.240 the Goldman sacks Intel JP Morgan. Until that I was 148 00:07:31.279 --> 00:07:35.079 reading this morning, they were saying that if only one 149 00:07:35.160 --> 00:07:39.879 percent of private US treasury holders went into gold, the 150 00:07:39.879 --> 00:07:42.199 price would easily go to five thousand. So it's just 151 00:07:42.480 --> 00:07:45.680 one percent of those who privately hold treasuries. And the 152 00:07:45.720 --> 00:07:49.240 reason you hold treasuries is for the stability, you know, 153 00:07:49.319 --> 00:07:52.959 you especially when interest rates are a little bit higher, 154 00:07:53.079 --> 00:07:55.600 So you hold it for the stability. And when that 155 00:07:55.720 --> 00:08:00.800 stability wanes, when you can't even remotely see the same 156 00:08:00.879 --> 00:08:03.519 value of a treasury, you know, maybe six months or 157 00:08:03.560 --> 00:08:06.399 a year from that date, then you look for something else. 158 00:08:06.519 --> 00:08:10.480 Gold it fills that role. Yeah, and I think there 159 00:08:10.519 --> 00:08:13.120 will be a move from treasuries. A matter of fact, 160 00:08:13.199 --> 00:08:15.639 the Chinese, they used to be the greatest buyer of 161 00:08:15.720 --> 00:08:18.279 US treasuries. Now they're the greatest seller. So a lot 162 00:08:18.279 --> 00:08:21.240 of these metrics are being inverted. And I think that's 163 00:08:21.240 --> 00:08:25.000 why we're seeing these prices. I think just beginning by 164 00:08:25.000 --> 00:08:27.160 the way, I don't a lot of I think regular 165 00:08:27.199 --> 00:08:31.000 people they've lived through, you know, different busts and booms 166 00:08:31.040 --> 00:08:34.639 for metals. And we go back to the twenty and 167 00:08:34.720 --> 00:08:37.399 eleven time frame where gold almost hit two thousand dollars 168 00:08:37.440 --> 00:08:40.120 an ounce, and then Ben Bernanki came out and quelled 169 00:08:40.159 --> 00:08:42.720 the markets and said there's no more QI and I'm 170 00:08:42.720 --> 00:08:44.759 going to do quantitative tightening and all the rest, and 171 00:08:44.799 --> 00:08:48.679 that really set prices back on metals. But we're not 172 00:08:48.720 --> 00:08:50.679 going to see those days again. I don't think that 173 00:08:50.759 --> 00:08:54.360 there's going to be this big fall in pricing based 174 00:08:54.399 --> 00:08:57.000 off of market stability because, as you mentioned, with the 175 00:08:57.039 --> 00:09:01.720 government shutdowns, with the butt, we're in bubbles everywhere. I mean, 176 00:09:01.919 --> 00:09:04.639 AI is revolutionary, but it's a bubble. And by the way, 177 00:09:04.639 --> 00:09:07.240 you need silver to run AI. There's two different articles 178 00:09:07.240 --> 00:09:10.600 on the zero hedge right now about silver seeing price 179 00:09:10.679 --> 00:09:14.559 increases because of the AIM. So also actors. 180 00:09:14.840 --> 00:09:18.639 Yeah, yeah, it's I don't understand the calculation of anybody 181 00:09:18.639 --> 00:09:20.639 that will be buying TA bills right now because when 182 00:09:20.639 --> 00:09:22.720 you look at it, even though the interest rates I 183 00:09:22.720 --> 00:09:27.200 think are pretty high, six or seven percent, you know, 184 00:09:27.320 --> 00:09:31.679 look at inflation. That's not when they're telling you what 185 00:09:31.799 --> 00:09:33.879 the inflation is, that's not the real number. If you 186 00:09:33.879 --> 00:09:36.679 go to shadow facts, you will see that the inflation 187 00:09:36.840 --> 00:09:39.559 number is multiples of that, maybe two or three times 188 00:09:39.639 --> 00:09:41.840 what they're actually telling you the official rate is. So 189 00:09:41.960 --> 00:09:45.480 even if you buy, you get your money into CDs 190 00:09:45.639 --> 00:09:48.399 or get into treasury bills or something like that it's 191 00:09:48.840 --> 00:09:50.960 it's not even going to keep up with inflation. I 192 00:09:50.960 --> 00:09:56.639 remember back the early eighties and my dad was talking 193 00:09:56.639 --> 00:09:58.080 to my brother in law. They were talking about how 194 00:09:58.120 --> 00:10:01.240 they were transferring a lot of money into two CDs 195 00:10:01.279 --> 00:10:04.759 because interest rates relatively high at that time, and that 196 00:10:05.000 --> 00:10:08.039 was a real interest rate, you know, compared to inflation 197 00:10:08.200 --> 00:10:11.320 at the time. And I said, yeah, I'm putting all 198 00:10:11.360 --> 00:10:13.240 my money in CDs as well. When I held up 199 00:10:13.240 --> 00:10:17.320 the audio CDs. That's what I invested in was just 200 00:10:17.440 --> 00:10:21.440 consumers spending, but they were patting their money into a 201 00:10:21.480 --> 00:10:24.279 lot of retires are putting their money into CDs and stuff, 202 00:10:24.279 --> 00:10:26.200 and it just you know, it's just going to lose 203 00:10:26.279 --> 00:10:29.000 value because of the inflation, because of what is happening. 204 00:10:31.480 --> 00:10:35.799 I have. I have some customers. Lady recently she had 205 00:10:35.840 --> 00:10:38.480 money in CDs, and this I think probably up until recently, 206 00:10:38.519 --> 00:10:40.559 she was probably a normal person who didn't look at 207 00:10:40.600 --> 00:10:43.799 the monetary system. And then with inflation. You know, if 208 00:10:43.840 --> 00:10:46.000 you're close to the central bank, if you're when the 209 00:10:46.080 --> 00:10:49.519 outflows happen and they cut raids so they start pumping 210 00:10:50.000 --> 00:10:52.159 funds into the economy, you do really well because you 211 00:10:52.159 --> 00:10:54.879 can go out and buy those consumer goods or you 212 00:10:54.919 --> 00:10:57.720 can buy commodities or anything that haven't been repriced yet. 213 00:10:57.720 --> 00:11:00.519 But the average person, that's when they get hurt, you know, 214 00:11:00.600 --> 00:11:03.240 because the money flows down, the prices increase, and they 215 00:11:03.240 --> 00:11:05.559 have the same amount of purchasing power, the same amount 216 00:11:05.600 --> 00:11:07.840 of earning power, and then everything went up, and that's 217 00:11:07.840 --> 00:11:10.600 inflation in a nutshell. And the increase in the money 218 00:11:10.600 --> 00:11:15.480 supply increases pricing. And so a lot of people, especially 219 00:11:15.480 --> 00:11:18.919 after twenty twenty, that wouldn't have otherwise, wouldn't have even 220 00:11:18.960 --> 00:11:21.879 asked these questions that had just been normal. They're coming 221 00:11:21.879 --> 00:11:27.480 in in buying and I think relatively cheap metal prices 222 00:11:27.519 --> 00:11:31.480 compared to what the damage has actually been done to 223 00:11:32.240 --> 00:11:35.240 the dollar, I think, and this is taking a long 224 00:11:35.279 --> 00:11:37.639 time to unravel. David Is, We've been talking, We talk 225 00:11:37.639 --> 00:11:40.440 about this every week, but the massive amount of damage 226 00:11:41.039 --> 00:11:43.279 is only going to continue to drive these prices up. 227 00:11:43.679 --> 00:11:45.519 Yeah, it's like an earthquake. You know, got a lot 228 00:11:45.519 --> 00:11:47.600 of fault lines in here, and I hope you're gonna 229 00:11:47.639 --> 00:11:50.279 have a lot of small earthquakes along the way. One 230 00:11:50.399 --> 00:11:54.120 giant one, which could be what happens when in Nvidia 231 00:11:54.440 --> 00:11:57.080 and the AI bubble burst. But then the other part 232 00:11:57.120 --> 00:11:59.519 of this which makes this unique at this point in time, 233 00:12:00.159 --> 00:12:03.919 what is happening with digital currency and things like that. 234 00:12:04.200 --> 00:12:06.440 There's an article on Free Thought Project. The state just 235 00:12:06.559 --> 00:12:12.159 robbed an entire crypto exchange and broad Daylight Canada of 236 00:12:12.200 --> 00:12:17.600 the Royal Canadian Mounted Police just targeted the largest crypto 237 00:12:17.720 --> 00:12:21.519 seizure in Canada's history, fifty six million dollars. They shut 238 00:12:21.559 --> 00:12:26.000 down trade Ogre, a privacy focused exchange and the process. 239 00:12:26.000 --> 00:12:28.279 And of course we saw Canada do this with the 240 00:12:29.080 --> 00:12:32.679 truckers and the protesters of the COVID lockdown. But now 241 00:12:32.679 --> 00:12:36.519 they're doing it just because they can, I guess, and 242 00:12:36.759 --> 00:12:40.039 we see it at the same time. Was it eighty 243 00:12:40.120 --> 00:12:44.919 six million accounts shut in Vietnam because people didn't add 244 00:12:44.960 --> 00:12:48.200 their biometric data to the account. Thailand is doing the 245 00:12:48.240 --> 00:12:50.840 same thing as well. They've already shut down over three 246 00:12:50.879 --> 00:12:53.440 million accounts and they said it's going to continue to increase. 247 00:12:53.919 --> 00:12:57.960 So everybody is moving to digital ID and digital cash. 248 00:12:58.600 --> 00:13:02.399 And to me, that is that is gold's biggest advantage. 249 00:13:02.399 --> 00:13:04.759 To me, that's the best game in town gold and 250 00:13:04.759 --> 00:13:07.679 silver is that you've got some physical money that is 251 00:13:07.720 --> 00:13:10.919 out of their digital system. 252 00:13:10.840 --> 00:13:14.440 One percent, and by the way I love bitcoin. I 253 00:13:14.519 --> 00:13:18.080 just rebranded my Texas location wise Wolf gold Silver Bitcoin. 254 00:13:18.200 --> 00:13:22.399 Love love that love for technology, but it exists in 255 00:13:22.440 --> 00:13:24.720 the third dimension. You can trade it and be outside 256 00:13:24.759 --> 00:13:28.200 of the system, and bitcoin can't do that. Bitcoin you 257 00:13:28.240 --> 00:13:30.440 can go from wallet to wallet and you never have 258 00:13:30.519 --> 00:13:33.279 to touch in exchange, and that's great, but you're still on. 259 00:13:33.399 --> 00:13:35.759 That's what the blockchain is. It's a ledger forever. But 260 00:13:36.440 --> 00:13:38.639 if I trade a gold coin with David Knight for 261 00:13:39.519 --> 00:13:42.519 advertising or something, who sees that it's just you and I. 262 00:13:42.639 --> 00:13:44.879 That's between you and I. That's money that we exchange. 263 00:13:44.919 --> 00:13:48.000 We recognize value and whatever we pass between us, and 264 00:13:48.039 --> 00:13:50.759 that's it. And that's the way it's supposed to be. 265 00:13:51.720 --> 00:13:54.720 You know, trade Ogre was a great platform. I didn't 266 00:13:54.720 --> 00:13:58.679 know that that happened. I've all trade over for a 267 00:13:58.720 --> 00:14:01.240 long time. They just had an ok YC. You could 268 00:14:01.279 --> 00:14:05.240 go on there and take your bitcoin, turn it into ripple, 269 00:14:05.360 --> 00:14:08.159 you could turn it into ethereum, you could turn in 270 00:14:08.360 --> 00:14:11.279 you know, if you got a pirate chain, you take 271 00:14:11.320 --> 00:14:13.360 pirate chain, you could cash it out. But they didn't 272 00:14:13.399 --> 00:14:17.840 ever deal in with tradeover. They never dealt with fiat, 273 00:14:18.759 --> 00:14:22.919 so there was no banks. It was just crypto exchange, 274 00:14:22.919 --> 00:14:24.879 and there was, but there was no KYC from what 275 00:14:24.960 --> 00:14:27.679 I understand, and I haven't seen in a few years. 276 00:14:27.960 --> 00:14:31.000 Your customer where they id you very carefully report to 277 00:14:31.039 --> 00:14:33.360 the government about that. Yeah, so well, which. 278 00:14:33.200 --> 00:14:35.720 Is a huge I mean the amount. This is why 279 00:14:36.440 --> 00:14:40.080 in the space of crypto there is fewer and fewer 280 00:14:40.120 --> 00:14:43.320 smaller operators. Just like I was looking and I was like, well, 281 00:14:43.320 --> 00:14:46.440 maybe I should take stable coin. So I asked my 282 00:14:46.759 --> 00:14:48.519 compliance officer. He's like, you don't want to do that. 283 00:14:48.840 --> 00:14:51.320 It's like it's it's ten thousand dollars just to start 284 00:14:51.360 --> 00:14:52.679 and we have to get a license. And I go 285 00:14:52.799 --> 00:14:54.879 just to deal in a coin that's supposed to be stable, 286 00:14:55.480 --> 00:14:57.559 and I go, this, what's the you know, which is 287 00:14:57.600 --> 00:15:01.559 a completely open source everything. It's not like a privacy coin. Yeah, no, 288 00:15:01.639 --> 00:15:04.919 it's not worth it. So you're exactly right. I mean, 289 00:15:04.960 --> 00:15:08.039 there's there's a digital revolution going on. And you know, 290 00:15:08.960 --> 00:15:10.840 I was on a show yesterday asked me about it. 291 00:15:10.840 --> 00:15:12.759 Is it's going to be complete surveillance. I said, well, 292 00:15:12.759 --> 00:15:15.360 if we allow it. Yeah, I think the fight's still 293 00:15:15.360 --> 00:15:17.600 on for that. I mean I don't the battle isn't 294 00:15:17.639 --> 00:15:18.159 over yet. 295 00:15:18.200 --> 00:15:20.879 But see what happens in the UK. I mean, you 296 00:15:20.919 --> 00:15:24.159 know they're up against but of course the Swiss, of 297 00:15:24.200 --> 00:15:27.519 all places, you know, they always valued privacy. They just 298 00:15:27.639 --> 00:15:30.279 voted in a referendum, the citizens voted to have a 299 00:15:30.320 --> 00:15:33.279 digital ID. Now they've promised them that it won't be 300 00:15:33.399 --> 00:15:36.879 mandatory for now right, and we know exactly how that's 301 00:15:36.919 --> 00:15:38.759 going to work. But getting back to what we were 302 00:15:38.799 --> 00:15:41.720 just talking about, in terms of the visibility on the blockchain, 303 00:15:42.120 --> 00:15:44.080 that's the thing that bothers me. It's not only that 304 00:15:44.480 --> 00:15:46.960 you're visible to government, because the government can find out 305 00:15:47.080 --> 00:15:48.639 with all the Know your Customer rules and all the 306 00:15:48.639 --> 00:15:50.759 rest of the stuff. There's a lot of visibility with 307 00:15:51.000 --> 00:15:55.600 anything like that, but with the crypto that is not hidden. 308 00:15:55.639 --> 00:15:58.840 And in this Freethought Project article they talk a lot 309 00:15:58.840 --> 00:16:03.200 about Zano, which is a privacy coin. We have some 310 00:16:03.320 --> 00:16:08.720 anonymity of these transactions. However, on bitcoin you are visible 311 00:16:08.759 --> 00:16:12.000 to everybody, and so there's private crooks out there, not 312 00:16:12.039 --> 00:16:14.480 just the government crooks who can steal from you, and 313 00:16:14.759 --> 00:16:17.240 we have seen that in the past. I was surprised 314 00:16:17.279 --> 00:16:22.080 of some billionaire who had nearly a million dollars is 315 00:16:22.159 --> 00:16:24.799 nine hundred and some thousand dollars stolen from him. He 316 00:16:24.799 --> 00:16:27.919 didn't even know it, and some guy contacted them and 317 00:16:27.960 --> 00:16:31.000 figured out that it was him, and he was looking 318 00:16:31.039 --> 00:16:35.120 at large transactions that happened and here's this wail like 319 00:16:35.200 --> 00:16:38.840 transaction and he works out who this guy is. So 320 00:16:39.039 --> 00:16:42.159 the thief saw the transactions, saw the amounts of money 321 00:16:42.159 --> 00:16:44.919 that were there, and stole it from him. And then 322 00:16:45.120 --> 00:16:47.600 another person was able to look at this and figure 323 00:16:47.600 --> 00:16:50.039 out who it was that had that account and contacted him, 324 00:16:50.080 --> 00:16:52.240 and the guy says, you're right, they stole a million 325 00:16:52.279 --> 00:16:55.519 dollars from me. So you know, that's always been a 326 00:16:55.799 --> 00:16:57.559 concern to me. When I look at that. It's not like, 327 00:16:57.720 --> 00:16:59.000 you know, I'm going to be a target because I 328 00:16:59.039 --> 00:17:01.600 don't have that kind of money putting into it by 329 00:17:01.600 --> 00:17:03.799 a long shot. But it could happen to anybody. 330 00:17:05.400 --> 00:17:09.200 Oh of course it can. And that's bitcoin people mistake 331 00:17:09.279 --> 00:17:12.279 that for you know. I remember talking to DHS agents 332 00:17:12.519 --> 00:17:15.160 the camp by my shot back in twenty nineteen or so. 333 00:17:15.319 --> 00:17:18.720 They're like, it's money laundering and illegal activity. I'm like, well, 334 00:17:18.759 --> 00:17:20.319 that's a really dumb thing to do. I mean, it's 335 00:17:20.400 --> 00:17:22.759 right there on the blockchain. I mean, I know, I 336 00:17:22.799 --> 00:17:25.720 always looked at bitcoin as this is like an open 337 00:17:25.759 --> 00:17:30.000 source digital money or a store of value. I wouldn't 338 00:17:30.000 --> 00:17:32.319 necessarily consider it private. You're supposed to be able to 339 00:17:32.359 --> 00:17:35.000 I mean with I mean, technically you could keep your 340 00:17:35.039 --> 00:17:37.759 wallet private forever, as long as you know your your key. 341 00:17:37.759 --> 00:17:41.160 That's why so many millions of bitcoins are lost because 342 00:17:41.200 --> 00:17:44.119 you can't get into those wallets because of the system designed. 343 00:17:44.559 --> 00:17:47.480 It's not necessarily private. I mean, the ultimate privacy coin 344 00:17:47.880 --> 00:17:52.319 is a one ounce silver round. That's the ultimate privacy coin. Yeah, 345 00:17:52.079 --> 00:17:56.119 or a ten thounce gold piece, it's ultimate ultimate privacy. 346 00:17:56.440 --> 00:18:00.960 It's just between you and whoever you're trading with, and 347 00:18:01.000 --> 00:18:03.559 that stores that value for you forever. And you can 348 00:18:03.640 --> 00:18:06.960 still with if you know a good local shop or 349 00:18:07.079 --> 00:18:08.759 if you're listening to me, you can always deal with 350 00:18:08.799 --> 00:18:11.160 me or send it to me. But you know, gold 351 00:18:11.160 --> 00:18:13.799 and silver are very liquid, so you could if you 352 00:18:13.880 --> 00:18:15.839 had if you kept your savings in gold or silver 353 00:18:15.880 --> 00:18:19.920 and you cashed out the local shop, that's between you 354 00:18:20.000 --> 00:18:22.920 and cash usually, I mean still we still have cash. 355 00:18:23.200 --> 00:18:25.480 There's a lot of things on the horizon that are 356 00:18:25.480 --> 00:18:27.400 going to be more punitive, and you know, they're going 357 00:18:27.480 --> 00:18:29.599 to be looking into transactions and all that stuff, and 358 00:18:29.640 --> 00:18:31.640 I'll have to keep up with it. For right now 359 00:18:32.559 --> 00:18:34.559 you can trade in and out of gold and silver 360 00:18:34.680 --> 00:18:37.559 and you don't even need a bank. Yeah, that's right 361 00:18:37.599 --> 00:18:38.279 for most things. 362 00:18:38.519 --> 00:18:40.759 Well, and that's what's happening in Thailand, and people are panicking. 363 00:18:40.759 --> 00:18:43.279 They're trying to get cash there because they can see 364 00:18:43.279 --> 00:18:45.920 the handwriting on the wall. You know, in Vietnam, they 365 00:18:46.079 --> 00:18:48.480 just it just all happened, all at once. Eighty six 366 00:18:48.519 --> 00:18:51.000 million accounts gone. But you know, three million accounts gone, 367 00:18:51.039 --> 00:18:53.039 that's a pretty big thing, and they're boasting that that's 368 00:18:53.119 --> 00:18:55.920 just the beginning of it. So yeah, when you look 369 00:18:55.920 --> 00:19:00.359 at these things, crypto's not a real coin, and you 370 00:19:00.440 --> 00:19:04.440 know that they always will put bitcoin out there. They 371 00:19:04.440 --> 00:19:07.440 will make it like a gold coin, like a physical 372 00:19:07.480 --> 00:19:11.039 gold coin with a bitcoin symbol on it, but it's 373 00:19:11.400 --> 00:19:14.359 not a coin, and it's not encrypted. The transaction will 374 00:19:14.359 --> 00:19:17.160 have some encryption on it to process that, but the 375 00:19:17.200 --> 00:19:20.519 ownership of the blockchain is not encrypted. It's all public 376 00:19:20.599 --> 00:19:23.119 that is out there. So and of course the stable 377 00:19:23.160 --> 00:19:26.079 coins are not stable. If they are tied to a 378 00:19:26.119 --> 00:19:29.359 fiat currency, they should call them a fiat coin or 379 00:19:29.400 --> 00:19:33.599 something like that. But anyway, it's gold. They're looking at 380 00:19:33.680 --> 00:19:36.200 six percent higher by the second quarter. That's Goldman Sachs. 381 00:19:36.240 --> 00:19:40.319 I think that's a very conservative estimate. I think, what 382 00:19:40.400 --> 00:19:40.880 do you think. 383 00:19:42.559 --> 00:19:45.799 I think it's conservative too. They haven't kept up. A 384 00:19:45.880 --> 00:19:48.160 lot of these analysts haven't kept pace with these all 385 00:19:48.240 --> 00:19:50.799 time highs. If they were, they'd be predicting the all 386 00:19:50.839 --> 00:19:53.400 time highs. They never actually do they get they get close, 387 00:19:53.519 --> 00:19:56.279 but they're a conservative and they're they're based off of 388 00:19:56.440 --> 00:19:59.920 I think there's an ignorance in the analysts that look 389 00:20:00.079 --> 00:20:02.400 at all these the financial outcomes. I think there's an 390 00:20:02.440 --> 00:20:06.160 ignorance there about FIA currency, and there's an ignorance about geopolitics, 391 00:20:06.519 --> 00:20:09.240 and those two things, the geopolitics that are happening right now, 392 00:20:09.400 --> 00:20:13.240 the shifts in power, the loss of a dollar dominance, 393 00:20:13.279 --> 00:20:16.200 all that should be factored in. It's not because they're 394 00:20:16.240 --> 00:20:19.640 institutional lines are they come to the establishment and there's 395 00:20:19.720 --> 00:20:22.599 just this normalcy bias. So I think those are those 396 00:20:22.599 --> 00:20:25.440 are conservative figures. I think. Fourth, I mean, we just 397 00:20:25.480 --> 00:20:27.839 crossed thirty nine hundred dollars an ounce. Do you think 398 00:20:27.880 --> 00:20:30.359 that four thousand dollars an ounce gold? You know, it's 399 00:20:30.480 --> 00:20:32.599 it's way out there in the future. I don't think so. 400 00:20:32.880 --> 00:20:34.000 Just one little push. 401 00:20:34.079 --> 00:20:36.720