WEBVTT 1 00:00:05.040 --> 00:00:05.879 It's great to have you on. 2 00:00:06.080 --> 00:00:09.320 Always interesting to talk to, and right now everything is 3 00:00:09.359 --> 00:00:12.400 really changing besides the election and the effects on that 4 00:00:12.679 --> 00:00:13.679 that somebody send. 5 00:00:13.519 --> 00:00:14.320 Me this article. 6 00:00:14.679 --> 00:00:17.000 Saint Louis fed releases an article on why a gold 7 00:00:17.000 --> 00:00:20.239 standard won't work. They said it's because of goal's lack 8 00:00:20.359 --> 00:00:24.600 of a fixed supply is a significant problem. It's like, what, 9 00:00:24.600 --> 00:00:27.640 what are they talking about when you can have Yeah, 10 00:00:27.640 --> 00:00:29.679 I just need to be able to manufacture as much 11 00:00:29.679 --> 00:00:32.439 of this stuff as you want. And so they say 12 00:00:32.439 --> 00:00:34.359 the supply of gold is not fixed to us, a 13 00:00:34.399 --> 00:00:36.600 lot more fixed than the supply of their paper money, 14 00:00:36.600 --> 00:00:37.079 isn't it. 15 00:00:37.079 --> 00:00:39.280 It's amazing to see that argue. 16 00:00:39.320 --> 00:00:42.880 That's an interesting observation. The fact that gold is not 17 00:00:43.039 --> 00:00:46.000 fixed makes it their problem. And I think my founding 18 00:00:46.039 --> 00:00:49.520 fathers would disagree with that. I think history is going 19 00:00:49.560 --> 00:00:52.039 to judge them and disagree with that. Did you see 20 00:00:52.039 --> 00:00:56.079 the press conference where Janet Yellen was asked about is 21 00:00:56.119 --> 00:00:59.520 she worried about the dollar losing the world's reserve currency status? 22 00:00:59.520 --> 00:01:01.719 And when the question was asked, the monument for the 23 00:01:01.759 --> 00:01:03.640 Treasury Department fell off the podium. 24 00:01:03.640 --> 00:01:06.400 Did you see that? I didn't see that. 25 00:01:06.400 --> 00:01:09.799 That's great, that was it was only a couple of 26 00:01:09.920 --> 00:01:12.280 days ago. Yeah, live, I mean, did you ask about tariffs? 27 00:01:12.280 --> 00:01:13.879 And then she was asked about this is do you 28 00:01:13.959 --> 00:01:17.879 do you have any anxiety about the dollar losing the 29 00:01:17.879 --> 00:01:20.519 world's reserve currency status. As soon as the question was asked, 30 00:01:20.680 --> 00:01:23.640 the literally the Treasury seal fell off the podium and 31 00:01:23.680 --> 00:01:26.200 Janet Yellen just looked kind of dazed and around the place. 32 00:01:26.480 --> 00:01:30.400 I'll have to send it to you, and Dagon very apropos. 33 00:01:30.040 --> 00:01:32.319 Then Dagon falls over and the head breaks off. 34 00:01:32.200 --> 00:01:37.319 And early Yeah, it's uh, it's crazy, that's crazy. Uh yeah, 35 00:01:37.519 --> 00:01:41.079 something that's a sign for us, isn't it. Uh, Well, 36 00:01:41.239 --> 00:01:43.920 we're when we're looking at what is happening with this election, 37 00:01:44.439 --> 00:01:47.560 there's a lot of uncertainty about that. But of course 38 00:01:47.599 --> 00:01:50.200 I think everybody understands that nothing is really going to 39 00:01:50.319 --> 00:01:53.120 change afterwards. I mean, there's not nobody is talking about 40 00:01:53.159 --> 00:01:57.120 any fixes for inflation. I don't I'll be surprised if 41 00:01:57.120 --> 00:02:01.120 we've got to fix for the wars, but certainly nothing 42 00:02:01.359 --> 00:02:03.560 to stop inflation. As a matter of fact, both of 43 00:02:03.599 --> 00:02:07.040 them are looking to increase spending and you know, as 44 00:02:07.079 --> 00:02:08.639 a handout tax. 45 00:02:08.360 --> 00:02:09.520 Breaks to various other people. 46 00:02:09.560 --> 00:02:11.439 So all the fundamentals are still going to be there, 47 00:02:11.439 --> 00:02:12.800 I think after the election, right. 48 00:02:13.599 --> 00:02:16.319 Oh absolutely, And I mean we're looking at an all 49 00:02:16.360 --> 00:02:19.240 time high for gold. It hit twenty seven hundred and 50 00:02:19.319 --> 00:02:22.759 ninety dollars. Really, what that is is that the currencies 51 00:02:22.800 --> 00:02:25.840 around the world are losing to gold. I mean they're 52 00:02:25.919 --> 00:02:28.520 printing more, the governments, the central banks are printing more. 53 00:02:28.560 --> 00:02:31.680 It's devaluing their own currencies and against gold, which is 54 00:02:31.719 --> 00:02:34.639 a fixed asset, is a commodity, is a precious metal, 55 00:02:35.360 --> 00:02:38.319 is finite, and they're losing against that. This is something 56 00:02:38.319 --> 00:02:41.400 that's happening. It's not just in the United States but worldwide, 57 00:02:41.439 --> 00:02:45.000 and we're going to continue to see gold prices rise. 58 00:02:45.080 --> 00:02:47.199 And they're not really rising though. I mean again, it's 59 00:02:47.280 --> 00:02:51.960 currencies are falling against gold. And you know, it's interesting. 60 00:02:52.000 --> 00:02:55.360 I was reading that since the invasion of Russia by 61 00:02:55.439 --> 00:02:59.400 Russia into Ukraine and the sanctions that were placed, central 62 00:02:59.439 --> 00:03:04.080 banks have five times more goal they increase their central 63 00:03:04.080 --> 00:03:07.479 gold bank purchases by five times, and every time that 64 00:03:07.520 --> 00:03:11.039 one hundred tons of gold gets bought by the central banks, 65 00:03:11.280 --> 00:03:13.439 the price of gold goes up between one point five 66 00:03:13.479 --> 00:03:16.360 and two percent. And this has been steady for the 67 00:03:16.439 --> 00:03:18.719 last two plus years. I think we're only going to 68 00:03:18.719 --> 00:03:24.800 continue to see these trends because again uncertainty, geopolitical tensions, 69 00:03:25.159 --> 00:03:28.120 and really the failures of governments to have any sort 70 00:03:28.159 --> 00:03:31.080 of physical sanity in the face of reality. And we're 71 00:03:31.120 --> 00:03:34.240 going to have I think a reset of prices globally. 72 00:03:34.639 --> 00:03:36.919 Yeah, oh yeah, absolutely. And you know when you look 73 00:03:36.960 --> 00:03:40.840 at what is happening with the bricks, that is only accelerating, 74 00:03:40.840 --> 00:03:43.120 and it's going to be that competition between these two 75 00:03:43.120 --> 00:03:46.120 economic systems. I think that's going to continue to drive 76 00:03:46.800 --> 00:03:50.120 the accumulation of that. In addition to what you always 77 00:03:50.120 --> 00:03:53.039 talk about the fact the massive data accumulation that we've 78 00:03:53.080 --> 00:03:56.159 got globally is not going to go away. So all 79 00:03:56.199 --> 00:03:58.199 of those things, you know, they're trying to set up 80 00:03:58.199 --> 00:04:02.919 different standards, trying to get themselves to be trusted by 81 00:04:03.159 --> 00:04:05.719 more than the other system. That kind of competition, I 82 00:04:05.719 --> 00:04:08.199 think all that is going to drive continue to drive 83 00:04:08.240 --> 00:04:09.879 gold accumulation by the central banks. 84 00:04:11.400 --> 00:04:13.800 That's just the trend that's going to continue. Nothing's really 85 00:04:13.840 --> 00:04:17.120 going to derail that. And regardless of what happens this 86 00:04:17.199 --> 00:04:19.839 coming Tuesday with the election, gold and I think bitcoin 87 00:04:19.879 --> 00:04:22.319 will continue to rise. There may be you know, I 88 00:04:22.360 --> 00:04:26.720 mean short term differences in depending on which candidate makes 89 00:04:26.759 --> 00:04:29.879 it across the finish line or what's selected. But I'm 90 00:04:29.879 --> 00:04:32.639 just looking at the bigger picture here in the trend 91 00:04:32.759 --> 00:04:36.959 is worldwide countries like the Bricks nations moving away from 92 00:04:36.959 --> 00:04:39.480 the dollar, the dollars in trouble. We're going to see 93 00:04:39.519 --> 00:04:42.279 a continued loss of purchasing power with the US dollar. 94 00:04:42.519 --> 00:04:45.360 People are going to move into gold, and that's going 95 00:04:45.399 --> 00:04:49.319 to continue to what appears to be driving prices higher. 96 00:04:50.120 --> 00:04:52.519 Really what it is is that currencies are falling. 97 00:04:52.800 --> 00:04:57.800 Yeah, you've got CBDC and all of the climate stuff 98 00:04:57.800 --> 00:05:01.720 of the Bricks manifesto they released. I mean, they're fully 99 00:05:01.839 --> 00:05:03.959 on board of everything from the UN and all the 100 00:05:03.959 --> 00:05:07.199 rest of them. So we got two competing systems, except 101 00:05:07.199 --> 00:05:10.240 it's like the two competing parties that we've got states. 102 00:05:10.279 --> 00:05:12.319 I've got Democrats, Republicans, all we got you know, the 103 00:05:12.319 --> 00:05:15.079 Brick system, we got the you know, the the Western 104 00:05:15.120 --> 00:05:17.279 system with Swift and all the rest of this, and 105 00:05:17.360 --> 00:05:21.600 yet both of them are embracing this full on digital ID, 106 00:05:21.800 --> 00:05:24.160 the CBDC and all the rest of this stuff at 107 00:05:24.199 --> 00:05:26.759 the same time. I just look at it and the 108 00:05:26.800 --> 00:05:28.519 only thing that I see is that they're both going 109 00:05:28.560 --> 00:05:31.759 to be trying to shore up their credentials by buying gold, 110 00:05:32.240 --> 00:05:34.079 and that we don't want to be a part of 111 00:05:33.680 --> 00:05:36.120 these systems. We want to try to be outside of it, 112 00:05:36.600 --> 00:05:39.480 and we should be trying to shore up our independence 113 00:05:39.519 --> 00:05:40.319 as well with gold. 114 00:05:40.360 --> 00:05:44.319 I think so you're absolutely right. And it's like talking 115 00:05:44.360 --> 00:05:47.399 about politics during this country. If you start criticizing one party, 116 00:05:47.439 --> 00:05:49.079 they assume you're for the other one. So if I 117 00:05:49.120 --> 00:05:52.839 start talking about what the bricks nations are doing, you know, 118 00:05:52.920 --> 00:05:56.360 to get outside of the Western system, the US system, 119 00:05:56.399 --> 00:05:59.800 the dollar and d dollarization, they assume that I'm cheering for, 120 00:06:01.319 --> 00:06:04.639 which is ridiculous. I'm not. I sympathize with a lot 121 00:06:04.680 --> 00:06:07.800 of you know, their ideology and where they're headed and 122 00:06:07.839 --> 00:06:11.600 their strategy getting out of the swift system and utilizing 123 00:06:11.600 --> 00:06:14.120 their own cross border payments. I think that's great. I 124 00:06:14.199 --> 00:06:18.000 like decentralization, but I think it's an opportunity for all 125 00:06:18.040 --> 00:06:21.199 of us to look at LUs being outside of the system, 126 00:06:21.279 --> 00:06:24.439 being your own bank, learning how to do that, because 127 00:06:24.600 --> 00:06:28.120 that's the opportunity in the crisis that we're facing. I mean, 128 00:06:28.759 --> 00:06:31.879 it's never going to go back to the stability that 129 00:06:31.920 --> 00:06:34.800 we had a relative after the Cold War, there was 130 00:06:34.839 --> 00:06:37.680 you know, maybe fifteen twenty years where it was it 131 00:06:37.720 --> 00:06:40.879 was decently smooth for the economy. The dollar stayed pretty 132 00:06:40.959 --> 00:06:43.720 much the same and there was a slight inflation, but 133 00:06:43.759 --> 00:06:46.759 it was manageable. Those days are done. I mean, you 134 00:06:46.800 --> 00:06:49.680 just look at the damage done. You were talking about 135 00:06:49.680 --> 00:06:51.639 it last week when we were you know, it's not 136 00:06:51.759 --> 00:06:54.199 just going a trillion dollars in debt every hundred days. 137 00:06:54.199 --> 00:06:56.920 It's closer to two point five. And you know, how 138 00:06:56.920 --> 00:06:58.800 do you manage that? I mean, the interest on the 139 00:06:58.879 --> 00:07:01.319 debt paying that is over a trillion dollars a year. 140 00:07:01.600 --> 00:07:06.319 It's just unsustainable debt to GDP ratios. They have to 141 00:07:06.399 --> 00:07:09.519 create a monetary reset, and they're doing that, and they're 142 00:07:09.560 --> 00:07:11.920 telling you they're going to do it. The last people 143 00:07:11.920 --> 00:07:14.079 to know will just be the regular folks and that 144 00:07:14.120 --> 00:07:16.000 are just walking around thinking that. You know, they have 145 00:07:16.079 --> 00:07:19.000 normalcy bias and we all do it to some degree. 146 00:07:19.319 --> 00:07:21.639 But I think that's really what we need to take 147 00:07:21.680 --> 00:07:23.920 from this, not necessarily join a team and I'm for 148 00:07:24.000 --> 00:07:25.920 bricks or I can't wait for them to do whatever. 149 00:07:27.120 --> 00:07:29.519 You know, and there's speculation, you know, we talk about 150 00:07:29.920 --> 00:07:33.759 gold being a fixed asset that ideology has to die off. 151 00:07:33.800 --> 00:07:37.000 I mean, this is modern monetary theory. As you point 152 00:07:37.000 --> 00:07:39.600 out all the time, the magic money tree. This is 153 00:07:39.639 --> 00:07:43.560 like just establishment thought. It's pervasive and all of the 154 00:07:43.920 --> 00:07:48.319 economists that run academia and so much of the politics 155 00:07:48.680 --> 00:07:51.800 and this experiment that we've been in since nineteen seventy one. 156 00:07:52.120 --> 00:07:53.879 It will come to an end. And it's not that 157 00:07:53.920 --> 00:07:55.639 the dollar is going to go to zero, I think, 158 00:07:55.759 --> 00:07:57.879 or you'll have wheelbarrows full of cash to buy a 159 00:07:57.920 --> 00:08:00.360 low for bread or anything. I'm not an alarmist, but 160 00:08:00.399 --> 00:08:02.160 I think you'll just start to see that the fix 161 00:08:02.240 --> 00:08:06.199 is in. People will start moving away from things that 162 00:08:06.319 --> 00:08:09.040 are too much counterparty risk, or they see that they've 163 00:08:09.040 --> 00:08:11.560 got to get them cash out of the bank or 164 00:08:11.600 --> 00:08:13.920 out of savings and there's no yield on it. There's 165 00:08:13.920 --> 00:08:16.839 no return any CDs anymore because of interest rates. And 166 00:08:16.879 --> 00:08:19.680 you'll see them, you know, buying assets, whether it's land, 167 00:08:20.480 --> 00:08:23.360 you know, whether it's precious metals or something like bitcoin. 168 00:08:23.639 --> 00:08:26.680 That will be the trend moving forward, and it's nothing 169 00:08:26.920 --> 00:08:29.480 I can do about it. I mean, I'm necessary I'm 170 00:08:29.480 --> 00:08:33.440 not even necessarily cheering it on unless people are learning. 171 00:08:33.519 --> 00:08:35.559 So if people are learning about what happened, then they 172 00:08:35.559 --> 00:08:38.600 can make better decisions. And I applaud that it shouldn't 173 00:08:38.600 --> 00:08:40.840 be out of fear, but it should be from education. 174 00:08:41.080 --> 00:08:43.720 Oh absolutely, Yeah. If we get into inflation or something 175 00:08:44.080 --> 00:08:45.759 like that, you know, again, if you can get some 176 00:08:45.799 --> 00:08:48.080 money into gold. I think the end game with this, 177 00:08:48.200 --> 00:08:49.799 the great taking all the rest of the stuff, is 178 00:08:49.840 --> 00:08:53.360 to say, well, we've got the debt. It needs to 179 00:08:53.399 --> 00:08:56.559 be paid, so we're going to confiscate your mortgages or 180 00:08:56.559 --> 00:08:59.600 anything like that. So to the extent that as the 181 00:09:00.080 --> 00:09:04.679 you know, inflation kicks in, perhaps gold is going to 182 00:09:04.720 --> 00:09:07.840 be relatively worth more and that might help you to 183 00:09:08.080 --> 00:09:10.480 buy off some of these things to keep them from 184 00:09:10.480 --> 00:09:13.399 getting confiscated. That's that's one aspect of it. I just 185 00:09:13.440 --> 00:09:17.200 want to have the privacy having some medium of exchange 186 00:09:17.200 --> 00:09:19.279 that is outside of their system. I've got a question 187 00:09:19.320 --> 00:09:22.320 here from Atomic Dog says, Hey, Tony, is there an 188 00:09:22.440 --> 00:09:24.799 end in sight to this long run up on gold? 189 00:09:24.879 --> 00:09:27.480 And now silver seems like it runs up, then there's 190 00:09:27.519 --> 00:09:29.840 some profit taking, then it runs up some more. 191 00:09:30.279 --> 00:09:31.600 It seems to be the cycle. 192 00:09:33.600 --> 00:09:36.000 Well, I think that's a great question, because you wonder 193 00:09:36.039 --> 00:09:37.879 where I how that we well we hit an all 194 00:09:37.879 --> 00:09:42.399 time high again yesterday, and I assume that if history's 195 00:09:42.480 --> 00:09:44.480 my guide. I mean, first, you know, it's from twenty 196 00:09:44.600 --> 00:09:47.200 eleven to twenty twenty there was no all time high, 197 00:09:47.240 --> 00:09:49.519 so let's just talk about that. And then from twenty 198 00:09:49.600 --> 00:09:52.480 twenty it took to twenty twenty two to hit another one. 199 00:09:52.639 --> 00:09:54.919 Now again we're hitting it, you know, every other week 200 00:09:55.080 --> 00:09:58.519 and sometimes multiple times in the same week. So I 201 00:09:58.519 --> 00:10:00.360 think what you'll see is you'll continue to see this 202 00:10:00.399 --> 00:10:03.200 trend where gold will go up, there'll be some profit tanking, 203 00:10:03.240 --> 00:10:05.320 it'll pull back a little bit. Same thing with silver, 204 00:10:05.720 --> 00:10:08.759 but there's a there's a level here. I think when 205 00:10:08.799 --> 00:10:12.840 the paper gold and the ETF separate from the physical gold. 206 00:10:12.879 --> 00:10:15.320 When the demand continues to go up, which we're going 207 00:10:15.360 --> 00:10:17.480 to see from central banks. Like I said, it's gone 208 00:10:17.559 --> 00:10:21.279 up fivefold since twenty twenty two. That's central bank demand 209 00:10:21.320 --> 00:10:26.240 that's only going to increase. So I think that, you know, 210 00:10:26.320 --> 00:10:28.559 watching it go up and then the profit taking that's 211 00:10:28.639 --> 00:10:30.639 going to contend. I don't think we'll see any cratering. 212 00:10:30.679 --> 00:10:32.879 I don't think that it'll you know, you're definitely not 213 00:10:32.919 --> 00:10:35.120 going to see two thousand dollars gold again unless there's 214 00:10:35.159 --> 00:10:38.039 an absolute market crash, but that'll only be temporary. I 215 00:10:38.080 --> 00:10:41.879 think there'll be a more consolidation in the gold price 216 00:10:42.480 --> 00:10:45.080 we're heading to. And this is not just me saying this, 217 00:10:45.159 --> 00:10:48.000 but I think I think it's a conservative estimate to 218 00:10:48.039 --> 00:10:52.120 be at three thousand dollars gold in twenty twenty five. Again, 219 00:10:52.200 --> 00:10:54.799 not financial advice, not about investments. I'm just telling you 220 00:10:54.799 --> 00:10:57.080 where it's going to be against the dollar and against 221 00:10:57.159 --> 00:11:01.840 other currencies. The real story its gold, and I think 222 00:11:02.039 --> 00:11:05.039 even the clips in gold. I've shared this with you, 223 00:11:05.440 --> 00:11:07.000 I think a couple of weeks ago, but it was 224 00:11:07.039 --> 00:11:11.960 a game changer, the Russian government putting silver and pulatinum 225 00:11:12.000 --> 00:11:16.679 and palladium on their strategic reserve asset list and really 226 00:11:16.720 --> 00:11:19.799 putting silver out front. There's something to that, and this 227 00:11:19.879 --> 00:11:24.600 is a big move. Really no government since the pre 228 00:11:24.720 --> 00:11:29.240 communist Chinese, we're heavy on silver for strategic reserve assets. 229 00:11:29.320 --> 00:11:32.840 Russia moving into that, I think just underscores that silver 230 00:11:33.039 --> 00:11:36.279 truly is the most undervalued asset in the world, given 231 00:11:36.320 --> 00:11:38.919 all of its industrial uses and medical uses and then 232 00:11:39.000 --> 00:11:42.480 monetary uses, and the fact that it's under thirty four 233 00:11:42.519 --> 00:11:46.559 dollars an ounce is extremely cheap, giving its history. I 234 00:11:46.600 --> 00:11:49.039 have to remind people fifty two dollars and fifty cents 235 00:11:49.039 --> 00:11:51.759 in nineteen eighty. It was a bit of an anomaly, 236 00:11:52.080 --> 00:11:54.240 but that had to do with the Hunt family buying 237 00:11:54.399 --> 00:11:58.360 physical silver, and nobody's done that since they were punished 238 00:11:58.399 --> 00:12:00.840 by the deep state, I mean, would run through the 239 00:12:00.879 --> 00:12:04.600 mill for that, and you know, I think targeted financially 240 00:12:04.639 --> 00:12:07.240 because they exposed the weakness of the dollars. So I know, 241 00:12:08.159 --> 00:12:10.759 the trend to me is up. There's always it doesn't 242 00:12:10.759 --> 00:12:13.320 always go up into the right, but the trend for 243 00:12:13.519 --> 00:12:17.840 both precious metals against the currencies worldwide, I think is 244 00:12:17.879 --> 00:12:18.960 going to continue to go up. 245 00:12:19.440 --> 00:12:22.000 And of course you're talking about fifty dollars silver. Gold 246 00:12:22.200 --> 00:12:24.279 was around eight hundred or something like that as well 247 00:12:24.360 --> 00:12:26.919 around that time, and about what would that be today 248 00:12:27.000 --> 00:12:29.360 if we did that that for inflation. 249 00:12:30.720 --> 00:12:33.360 Well at least you know, four or five thousand. 250 00:12:33.080 --> 00:12:35.639 Yeah, yeah, So you know, we look at this that 251 00:12:35.759 --> 00:12:38.559 the fundamentals, and I think the reason that there is 252 00:12:38.559 --> 00:12:41.879 some profit taking but it continues to trend up is 253 00:12:41.919 --> 00:12:45.360 because the fundamentals are that they're not going to do 254 00:12:45.399 --> 00:12:47.600 anything about the spending and they're not going to do 255 00:12:47.639 --> 00:12:51.200 anything about making you know, printing more money and inflation 256 00:12:51.279 --> 00:12:53.039 and all the rest of this stuff. And it doesn't matter, 257 00:12:54.000 --> 00:12:56.159 you know, which one of these two teams gets in. 258 00:12:56.639 --> 00:12:58.000 That's the way they're going to run it. I mean, 259 00:12:58.039 --> 00:13:00.120 we look at what the La LA team is talking 260 00:13:00.159 --> 00:13:04.399 about the Green New Deal, endless amounts of money being 261 00:13:04.480 --> 00:13:08.000 spent on this fantasy talking about reparations. And then on 262 00:13:08.039 --> 00:13:12.720 the Trump side, he has absolutely no aversion to debt whatsoever. 263 00:13:12.759 --> 00:13:16.559 And we saw that in twenty twenty. Yeah, just you know, 264 00:13:16.600 --> 00:13:18.399 do a bill three and a half trillion dollars in Hey, 265 00:13:18.399 --> 00:13:20.159 if you oppose that, you say anything, we're going to 266 00:13:20.159 --> 00:13:23.000 primary you out, you know, he said to Massey at 267 00:13:23.039 --> 00:13:26.320 the time. So he has no aversion to debt. That 268 00:13:26.480 --> 00:13:29.320 is something that he has used all of his life 269 00:13:29.519 --> 00:13:31.600 as leverage, and he knows how to use it. 270 00:13:31.600 --> 00:13:32.519 He's very comfortable with it. 271 00:13:32.559 --> 00:13:35.840 He's the debt king, and so you're going to see 272 00:13:35.840 --> 00:13:38.759 that that go up. And he's not even serious Tony 273 00:13:38.879 --> 00:13:42.559 about trying to limit the deficit. And when he starts 274 00:13:42.559 --> 00:13:44.720 talking about tariffs, he says, no, I'm just going to 275 00:13:44.840 --> 00:13:48.360 use it as leverage to get things to onshore manufacturing 276 00:13:48.440 --> 00:13:51.720 in the United States. So he's not really necessarily talking 277 00:13:51.720 --> 00:13:54.159 about increasing the tariffs. He just wants to use it 278 00:13:54.399 --> 00:13:56.919 as a leverage thing. And that's the way he always 279 00:13:56.960 --> 00:13:59.200 used debt. He uses his debt as a leverage with 280 00:13:59.279 --> 00:14:01.879 the banks. So both of them are big spenders. Both 281 00:14:01.919 --> 00:14:06.159 of them don't care about any kind of you know, 282 00:14:06.679 --> 00:14:10.519 responsible balanced government whatsoever. And it's going to continue. 283 00:14:12.159 --> 00:14:14.720 I think what Trump learned early on is that he 284 00:14:14.759 --> 00:14:17.600 had amassed so much debt going into the nineteen nineties 285 00:14:17.679 --> 00:14:20.759 that he was more dangerous to the bank than the 286 00:14:20.759 --> 00:14:23.960 bank to him. And they needed him, and he really 287 00:14:24.080 --> 00:14:26.879 took him years. You know, he had people like Wilbur 288 00:14:27.039 --> 00:14:30.679 Rosscombe and you know who's Roschild's agent and helped him to, 289 00:14:30.960 --> 00:14:33.600 you know, steer through that navigate that there was huge 290 00:14:33.639 --> 00:14:36.919 losses of equity, you know in the taj Mahal Casina, 291 00:14:36.960 --> 00:14:39.919 all that stuff that imploded, and you know, he'd learned 292 00:14:39.919 --> 00:14:42.120 he had called himself the King of debt. If it 293 00:14:42.240 --> 00:14:44.240 was a fallacy in it though, you know, when you 294 00:14:44.679 --> 00:14:46.440 kind of use that, you can use debt to a 295 00:14:46.440 --> 00:14:48.480 certain extent if you're in the private sector and you 296 00:14:48.559 --> 00:14:51.000 become that big that's true, but you're talking on a 297 00:14:51.000 --> 00:14:54.440 global stage. David with that much on the line and 298 00:14:54.559 --> 00:14:59.080 GDP and all of that. The this strategic strength of 299 00:14:59.120 --> 00:15:02.720 the United States lies on its currency. You start messing 300 00:15:02.720 --> 00:15:05.919 with that, that's very dangerous territory. So I would you know, 301 00:15:06.000 --> 00:15:09.559 I would think that creating an environment where you know, 302 00:15:09.600 --> 00:15:12.679 you could invite companies to come here and build things, 303 00:15:12.840 --> 00:15:14.559 you can use tariffs for that. But there has to 304 00:15:14.600 --> 00:15:18.240 be a combination of safety in the currency. You can't 305 00:15:18.279 --> 00:15:20.159 just bully people. Can't just say well, I'm going to 306 00:15:20.240 --> 00:15:21.919 place one hundred percent. He said, this is going to 307 00:15:21.919 --> 00:15:24.000 place one hundred percent tariff in a country that's not 308 00:15:24.519 --> 00:15:28.399 utilizing the dollar. Well, that's still a weaponization of the dollar. 309 00:15:28.480 --> 00:15:32.000 It's just a different strategy by other means. So I 310 00:15:32.519 --> 00:15:35.600 really think those those type of strategies. I'm all for 311 00:15:35.639 --> 00:15:38.480 trying something new. And I agreed with what Trump said 312 00:15:38.519 --> 00:15:40.919 on the Rogan interview about William McKinley being, you know, 313 00:15:40.960 --> 00:15:42.759 the tariff king and how well we did in the 314 00:15:42.840 --> 00:15:47.399 nineteenth century. But there has to be this this debt 315 00:15:47.480 --> 00:15:50.639 issue and the currency issue has to be addressed. You 316 00:15:50.679 --> 00:15:54.360 have to remember William McKinley had the gold standard. You know, 317 00:15:55.120 --> 00:15:57.759 that's you know, that was the whole point of William 318 00:15:57.799 --> 00:16:00.320 Jennings Bryan running against him and saying, you know, the 319 00:16:00.799 --> 00:16:03.480 cross of gold speech that we had such a strong currency, 320 00:16:03.519 --> 00:16:07.360 they wanted free silver injected into the into the economy 321 00:16:07.399 --> 00:16:11.240 to lower the purchasing power of the dollar, to get 322 00:16:11.240 --> 00:16:13.879 people out of debt. So that was a that was 323 00:16:13.879 --> 00:16:18.279 a populist uh you know, political uprising if you will. 324 00:16:18.360 --> 00:16:21.399 So I critcified the country on a cross of gold. 325 00:16:21.600 --> 00:16:23.240 He needed liquidity from silver. 326 00:16:23.480 --> 00:16:26.600 Yeah, right, Yeah, that's where I hit the comstock load. 327 00:16:26.639 --> 00:16:30.519 That's where you get, you know, the first Morgan silver 328 00:16:30.600 --> 00:16:34.559 dollar eighteen seventy eight. You know it's coming out of that. 329 00:16:34.639 --> 00:16:36.879 There's a massive silver hit, you know, in Nevada. And 330 00:16:36.919 --> 00:16:43.360 then so that's the binanculist that's right, that's the TV 331 00:16:43.440 --> 00:16:45.519 show that Nixon would interrupt to take us off the 332 00:16:45.519 --> 00:16:46.799 gold standard. Ironically. 333 00:16:47.879 --> 00:16:50.639 Yeah, we went out to Nevada, the Tahoe thing when 334 00:16:50.679 --> 00:16:53.200 the kids were little. We went around some of those 335 00:16:53.200 --> 00:16:55.360 silver mines and everything that we're out there. I wanted 336 00:16:55.360 --> 00:16:57.159 to see where they'd filmed Bonanza, but you know, we 337 00:16:57.200 --> 00:16:58.960 wound up doing the silver mines as well. I was 338 00:16:59.639 --> 00:17:02.279 under Yeah, that's right. The fonder rossa they ran that 339 00:17:02.360 --> 00:17:06.720 thing for years. They had the cast, the three of them. 340 00:17:07.000 --> 00:17:09.880 They set up a tourist resort around there. But it's 341 00:17:09.920 --> 00:17:11.920 kind of deja vou to see that. But yeah, getting 342 00:17:11.920 --> 00:17:14.559 back to the to the silver standards, getting off on 343 00:17:14.599 --> 00:17:17.759 the tangent there, it is when you look at Trump, 344 00:17:17.920 --> 00:17:22.640 he's willing to do these very risky things. And of 345 00:17:22.680 --> 00:17:25.480 course the bad who was able to use at his leverage, 346 00:17:25.519 --> 00:17:28.799 But the bad thing was that he bankrupted casinos and 347 00:17:28.880 --> 00:17:33.119 so the bottom line is that he eventually lost the casinos. 348 00:17:33.160 --> 00:17:35.319 All he cared about with the rostyle people was you're 349 00:17:35.319 --> 00:17:38.000 going to keep my name on the buildings right until 350 00:17:38.039 --> 00:17:41.400 they completely go away. And so if he's got his 351 00:17:41.519 --> 00:17:44.839 name on the US, he doesn't really care what's happening 352 00:17:44.880 --> 00:17:47.079 fundamentally with his stuff. I think it's going to be 353 00:17:47.119 --> 00:17:51.079 a very dangerous time regardless of whoever is there. And 354 00:17:51.799 --> 00:17:55.519 it is because the same mentality is there with uniparty 355 00:17:55.599 --> 00:17:58.200 on so many of these different issues, but especially on 356 00:17:58.240 --> 00:17:59.079 the fiscal stuff. 357 00:17:59.240 --> 00:18:00.839 There's not going to be any change to it. 358 00:18:00.960 --> 00:18:03.799 And we're talking about it, you know, with the going 359 00:18:03.839 --> 00:18:07.319 back to his examples of the nineteenth century, the real 360 00:18:07.359 --> 00:18:10.839 issue was also spending right and they're not going to 361 00:18:10.880 --> 00:18:13.799 stop spending. They're going to continue to double down on 362 00:18:13.880 --> 00:18:16.240 the spending and just rearrange the deck chairs. Let me, 363 00:18:16.400 --> 00:18:18.599 let me give a tax break to this demographic voter 364 00:18:18.720 --> 00:18:21.640 group over here. I won't ta put taxes all, make 365 00:18:22.200 --> 00:18:26.279 a policeman all tax free, no tax on tips for waitresses. 366 00:18:26.279 --> 00:18:29.279 And that's the kind of games that they're playing. So 367 00:18:29.319 --> 00:18:30.079 it isn't going to change. 368 00:18:30.119 --> 00:18:33.480 I mean history that history shows us that the great 369 00:18:33.480 --> 00:18:37.359 empires or countries rise on sound money and economic nationalism, 370 00:18:37.440 --> 00:18:40.200 they decline on FIA currency and free trade. Yeah, and 371 00:18:40.240 --> 00:18:42.880 that's where we're in that cycle right now. And until 372 00:18:42.880 --> 00:18:47.279 we hit some sort of wall, if you will, something 373 00:18:47.440 --> 00:18:50.559 that where the music stops and there has to be 374 00:18:50.839 --> 00:18:52.880 you know, the people have to get we have to 375 00:18:52.880 --> 00:18:57.440 have a sober look at our our fiscal house. Everything's 376 00:18:57.599 --> 00:18:59.720 you know, up in the air, but we don't. There's 377 00:18:59.720 --> 00:19:02.640 no telling you know, how bad it will get as 378 00:19:02.640 --> 00:19:04.519 far as what happens to the dollar or you know 379 00:19:04.599 --> 00:19:07.839 what kind of economic damage is done from just not 380 00:19:08.240 --> 00:19:10.480 getting our fiscal house in order. Again, this is this 381 00:19:10.519 --> 00:19:12.480 is something that's not it's not in our politics. It's 382 00:19:12.480 --> 00:19:15.480 not in this election. It used to be and it 383 00:19:15.480 --> 00:19:17.920 begs the question, like, what what changed have they just 384 00:19:17.960 --> 00:19:22.039 decided to, you know, do a controlled demolition of this 385 00:19:22.119 --> 00:19:24.839 economy to replace it. Besides, it is build back better. 386 00:19:25.640 --> 00:19:27.599 In order to do that, you have to first destroy 387 00:19:27.680 --> 00:19:30.480 something to build it back better. So that's really where 388 00:19:30.759 --> 00:19:33.119 my mind goes, because it doesn't seem like anything's being 389 00:19:33.160 --> 00:19:37.480 done to to prop up the dollar or our economy. 390 00:19:38.160 --> 00:19:41.799 For a Love of the Road says Tony has said before, 391 00:19:41.799 --> 00:19:45.119 he's referring to d G eight about the Tomahawk missile 392 00:19:45.160 --> 00:19:48.079 selling you put that up there first, uh DJA, says David. 393 00:19:48.079 --> 00:19:49.599 Can you ask Tony if we go to war will 394 00:19:49.680 --> 00:19:54.400 silver skyrocket? How much silver is in a Tomahawk missile? 395 00:19:55.119 --> 00:19:56.559 For the Love of the Road says he wants to 396 00:19:56.599 --> 00:19:58.759 say that there was about one hundred ounces of silver 397 00:19:58.799 --> 00:20:01.640 and it is a monster five hundred ounces, five hundred. 398 00:20:01.960 --> 00:20:04.799 Five hundred ounces, a monster box. It's a monster box, 399 00:20:04.880 --> 00:20:08.240 which is five hundred ounces of silver and every Tomahawk missile. 400 00:20:10.200 --> 00:20:14.440 And I wonder how much CO two there is. Yeah, 401 00:20:15.599 --> 00:20:18.720