WEBVTT 1 00:00:07.719 --> 00:00:10.880 Tony is now is Tony Orderman of why is Wolf Gold? 2 00:00:10.960 --> 00:00:12.640 And of course you can get there by going to 3 00:00:12.759 --> 00:00:15.000 David Knight not Gold. Now, let Tony know that you 4 00:00:15.039 --> 00:00:18.079 came through us. It's been a really amazing week. Yet 5 00:00:18.120 --> 00:00:20.440 again every week we say this, but every week there's 6 00:00:20.480 --> 00:00:24.640 been a lot of movement back and forth in the 7 00:00:24.679 --> 00:00:29.440 metals as well as in the economy. What's on your mind, 8 00:00:29.519 --> 00:00:32.280 Tony as you look at the developments this week. 9 00:00:33.479 --> 00:00:35.960 Well, the IMF just put out a statement that the 10 00:00:36.000 --> 00:00:39.359 world economic order is going through a reset. So news 11 00:00:39.359 --> 00:00:44.359 slash there, the IMF is is broadcasting that, yeah, we're 12 00:00:44.920 --> 00:00:46.759 the minetary system is being reset. 13 00:00:46.799 --> 00:00:48.520 For sure, there's open questions. 14 00:00:48.960 --> 00:00:50.560 You know. The way I look at the news, I'm 15 00:00:50.560 --> 00:00:52.719 sure it is similar to the way you look at 16 00:00:52.719 --> 00:00:55.320 the news. It's it's not really the headlines, it's the 17 00:00:55.399 --> 00:00:59.759 underlying language and meaning behind them. I noticed that there's 18 00:00:59.799 --> 00:01:04.040 two opposing things here in these headlines. With gold, you 19 00:01:04.120 --> 00:01:08.040 have Chinese investors. It's like a record breaking first quarter. 20 00:01:08.120 --> 00:01:11.079 They were like twenty three tons of gold for Chinese investors, 21 00:01:11.560 --> 00:01:14.560 but the Chinese government just sold off a million ounces. 22 00:01:14.640 --> 00:01:19.000 It's like almost a record high for selloffs. It's profit taking. 23 00:01:19.640 --> 00:01:21.920 But I hang a question mark over at David, because 24 00:01:21.959 --> 00:01:25.599 you know, we have some trade tensions whatever that I'm 25 00:01:25.599 --> 00:01:29.200 putting this in quote trade negotiation tensions that have been laxed. 26 00:01:29.799 --> 00:01:31.400 I'm wondering if there's some sort of. 27 00:01:31.359 --> 00:01:35.319 Again, I have no confirmation to this, but I'm asking. 28 00:01:35.400 --> 00:01:37.920 I'm wondering if there is some sort of quid pro 29 00:01:38.040 --> 00:01:43.560 quo to take the accelerator off this This gold price 30 00:01:43.599 --> 00:01:46.640 and the Chinese are helping with that. Gold price is 31 00:01:46.680 --> 00:01:50.040 continuing to show the weakness of the dollar, which is 32 00:01:50.120 --> 00:01:53.200 catastrophic for the US system. I wonder if there's some 33 00:01:53.319 --> 00:01:54.760 sort of hey, you know. 34 00:01:54.719 --> 00:01:56.079 Take some profit. You're up. 35 00:01:56.200 --> 00:01:59.280 You know, God started buying gold in the early part 36 00:01:59.280 --> 00:02:01.799 of the only for a century and massive quantities for 37 00:02:01.799 --> 00:02:03.760 the Chinese. I wants to taking a little profit and 38 00:02:04.359 --> 00:02:06.920 helping the US dollar out just an open question. 39 00:02:07.120 --> 00:02:09.520 Yeah, they don't want to. They don't want to have 40 00:02:09.560 --> 00:02:13.680 a week dollar because that makes our exports cheaper and everything. 41 00:02:13.719 --> 00:02:15.759 You know, Trump is trying to weaken the dollars. We've 42 00:02:15.759 --> 00:02:18.360 talked about before. You know, not only is he raising 43 00:02:18.400 --> 00:02:22.000 tax as the terrace, but he's also weakening the dollar. 44 00:02:22.520 --> 00:02:25.240 And that's the game that they've always played as part 45 00:02:25.280 --> 00:02:28.560 of the Chinese price is currency manipulation. So they're well 46 00:02:28.560 --> 00:02:31.080 aware of how to do it, and they're well aware 47 00:02:31.159 --> 00:02:34.240 that they can do it to the US dollar as well. 48 00:02:34.639 --> 00:02:37.199 You know, Scott Bessant talked about how he wants to 49 00:02:37.240 --> 00:02:40.520 knew Bretton Woods and everything, and so you know, absolutely 50 00:02:41.199 --> 00:02:43.960 the restructure of the financial system is on the table 51 00:02:44.319 --> 00:02:45.680 and you have to look at this and wondering how 52 00:02:45.800 --> 00:02:48.719 how's it going to roll out? And I mentioned earlier 53 00:02:48.759 --> 00:02:53.080 that you know, Tether is talking about how they are 54 00:02:53.159 --> 00:02:58.800 already the largest exporter of US dollars, and I think 55 00:02:58.800 --> 00:03:01.919 we've talked about this, said, well, one way that they 56 00:03:01.960 --> 00:03:08.199 can bypass obstruction from foreign governments that don't want to 57 00:03:08.840 --> 00:03:11.120 buy into the end of the dollar is to go 58 00:03:11.240 --> 00:03:14.560 directly to the individuals in those countries. And now they're 59 00:03:14.599 --> 00:03:17.319 saying that openly that that is their intention to do 60 00:03:17.400 --> 00:03:20.199 that with a stable coin. That will set up a 61 00:03:20.240 --> 00:03:25.479 stable coin that transacts in US dollars, and of course 62 00:03:25.520 --> 00:03:28.800 the stable coin will also buy the treasury bills that 63 00:03:28.840 --> 00:03:31.560 the foreign governments don't want anymore. So be a way 64 00:03:31.639 --> 00:03:36.599 of selling the American debt to foreign individuals. If you 65 00:03:36.639 --> 00:03:38.639 can't get the foreign companies countries to buy it. 66 00:03:41.280 --> 00:03:45.879 We colormy skeptical on that working out very well for anyone, 67 00:03:47.080 --> 00:03:51.199 you know, a public private partnership in some way using 68 00:03:51.199 --> 00:03:55.680 the dollar in a stable coin setting. That may sound 69 00:03:55.680 --> 00:03:59.319 good on paper, I don't know how that would translate. 70 00:03:59.520 --> 00:04:03.000 I think there's too many moving parts for it to 71 00:04:03.039 --> 00:04:07.000 work on an international scale, and I don't think it 72 00:04:07.039 --> 00:04:08.759 was designed for that. Now, this is ti you're talking 73 00:04:08.759 --> 00:04:13.520 about government to private business or to assumed private entity, 74 00:04:13.960 --> 00:04:17.680 so that there's all sorts of pitfalls there, and it 75 00:04:17.759 --> 00:04:20.199 may be I keep looking at it the same way 76 00:04:20.240 --> 00:04:23.079 you do, David. It's like the stable coins are an 77 00:04:23.160 --> 00:04:28.560 outlier in the crypto world, and it's seemingly more and 78 00:04:28.639 --> 00:04:32.600 more adoption by governments at least working with them or 79 00:04:32.600 --> 00:04:37.000 looking for regulation or how to implement them in conjunction 80 00:04:37.120 --> 00:04:38.040 with their own currencies. 81 00:04:38.079 --> 00:04:40.000 And that's really alarming. 82 00:04:40.040 --> 00:04:42.160 I think you look at something like the US dollar 83 00:04:42.839 --> 00:04:47.759 where the back door for central bank digital currency, as 84 00:04:47.800 --> 00:04:50.199 you and I have, I think we're right about this, 85 00:04:50.800 --> 00:04:54.160 that that is the platform, that's the path, is to 86 00:04:54.319 --> 00:05:02.360 use these seemingly innocuous coins that are in the cryptosphere 87 00:05:02.639 --> 00:05:05.600 to usher in a central bank digital currency, and you 88 00:05:05.639 --> 00:05:08.279 can just say, hands, well, we're not This isn't coming 89 00:05:08.279 --> 00:05:13.480 from the FED necessarily, it's just mirroring the currency of 90 00:05:13.519 --> 00:05:18.560 the federal There's too many there's too many red flags 91 00:05:18.600 --> 00:05:22.560 for me to even remotely be supportive of something like this. 92 00:05:23.120 --> 00:05:23.879 Oh I don't see it. 93 00:05:24.199 --> 00:05:26.439 Yeah, well, you know, I don't see it working out 94 00:05:26.439 --> 00:05:28.480 well for investors, and I don't see it working out 95 00:05:28.480 --> 00:05:31.360 well for those who use the US dollar. 96 00:05:31.439 --> 00:05:33.920 I keep asking why why would they do? 97 00:05:34.160 --> 00:05:37.959 Oh yeah, absolutely, I think that it is their stealth 98 00:05:37.959 --> 00:05:39.839 way of doing a CBDC. And I've said that from 99 00:05:39.879 --> 00:05:42.279 the beginning. Now we've got a Treasury report that just 100 00:05:42.319 --> 00:05:45.120 came out, and the Treasure report says that they think 101 00:05:45.160 --> 00:05:48.439 the stable coins are on track for a two trillion 102 00:05:48.519 --> 00:05:52.879 dollar market cap by twenty twenty eight, and they say 103 00:05:52.920 --> 00:05:55.160 that right now it's about two hundred and thirty. Okay, 104 00:05:55.240 --> 00:05:58.959 so you're looking at a factor of ten tenfold in 105 00:05:59.360 --> 00:06:02.879 just the next three years. And this is the US Treasury, 106 00:06:03.079 --> 00:06:05.040 and they're talking about this in terms of how they're 107 00:06:05.040 --> 00:06:07.759 going to get rid of their Treasury bills. But at 108 00:06:07.800 --> 00:06:11.480 the same time, coin Telegraph is talking about the fact, well, 109 00:06:11.480 --> 00:06:13.399 you know, this has been We've been a big exporter 110 00:06:13.600 --> 00:06:16.360 of dollars with these stable coins, but now we're looking 111 00:06:16.519 --> 00:06:20.439 at using them domestically. And they said, and we're talking 112 00:06:20.560 --> 00:06:24.240 to law enforcement about that. I mean, everything is lining 113 00:06:24.319 --> 00:06:28.319 up there, Tony, that this is the public private partnership 114 00:06:28.720 --> 00:06:31.399 for a digital currency. They just won't call it a 115 00:06:31.439 --> 00:06:34.000 central bank digital currency, but it'll be the same function 116 00:06:34.079 --> 00:06:36.240 except that they'll get rich off of it. You know, 117 00:06:36.319 --> 00:06:38.519 the Trump people and Lutnick and all the rest of 118 00:06:38.519 --> 00:06:40.319 these people get rich off of it. But it is 119 00:06:40.360 --> 00:06:42.399 shaping up to have the same functions. That was a 120 00:06:42.399 --> 00:06:45.519 big red flag when Joe Biden was saying, Hey, we're 121 00:06:45.519 --> 00:06:48.160 going to have a central bank digital currency, and so 122 00:06:48.399 --> 00:06:49.800 first of all, let's figure out how we're going to 123 00:06:49.800 --> 00:06:53.040 redesign the financial system, how we're going to write the code, 124 00:06:53.360 --> 00:06:55.040 and then we need to talk to law enforcement about 125 00:06:55.079 --> 00:06:56.680 this and how they're going. 126 00:06:56.480 --> 00:06:56.959 To force me. 127 00:06:57.160 --> 00:06:59.759 And so now you've got coin Telegraph how they're talking about. 128 00:06:59.839 --> 00:07:03.000 So now they're having talks as to how they are 129 00:07:03.040 --> 00:07:06.839 going to it. Says collaborate with law enforcement in terms 130 00:07:06.959 --> 00:07:10.879 of putting out tether uh. And this is the company 131 00:07:10.920 --> 00:07:15.360 that Lutnik had so much involvement in he supposedly is 132 00:07:15.399 --> 00:07:18.360 now stepped away from it and divested himself. But yeah, right, 133 00:07:18.759 --> 00:07:21.680 you know whatever I mean to me, it's just it's 134 00:07:21.800 --> 00:07:24.399 just rapidly rapid escalation toward a CBDC. 135 00:07:24.600 --> 00:07:28.399 So what it looks like, Yeah, I concur with that. 136 00:07:28.480 --> 00:07:31.600 And one of the things that would make me even 137 00:07:31.600 --> 00:07:35.920 more skeptical is, like you just mentioned the the market cap. 138 00:07:37.720 --> 00:07:41.240 Let's look, let's think about that. You're talking about an 139 00:07:41.240 --> 00:07:46.000 eventual two plus trillion dollar market cap in a currency 140 00:07:46.079 --> 00:07:49.519 that inherently has no value. That's what So Bitcoin's uh 141 00:07:49.879 --> 00:07:53.160 market cap goes up when the price goes up because 142 00:07:53.199 --> 00:07:55.800 there is a finite amount of bitcoins. So even if 143 00:07:55.800 --> 00:07:58.439 you don't like bitcoin, you have to recognize that if 144 00:07:58.439 --> 00:08:01.439 a bitcoin sells for a higher price, the market cap. 145 00:08:01.480 --> 00:08:02.480 Continues to rise. 146 00:08:02.519 --> 00:08:05.560 So it's about I think it's one point seven trillion 147 00:08:05.759 --> 00:08:08.319 right now for bitcoin. I could be wrong, it's right 148 00:08:08.319 --> 00:08:11.759 around there, and silver is probably like one point five trillion, 149 00:08:11.800 --> 00:08:16.000 but silver price and market cap fluctuates. So what would 150 00:08:16.000 --> 00:08:21.000 it What would entail a ten x market cap increase 151 00:08:21.279 --> 00:08:24.839 for a stable coin that inherently has no value? 152 00:08:24.920 --> 00:08:25.240 Really? 153 00:08:25.319 --> 00:08:28.279 But the was it just the increase in its own 154 00:08:29.279 --> 00:08:31.839 money supply, is that what it is, or it's it's 155 00:08:31.839 --> 00:08:34.000 holdings of treasuries again, but. 156 00:08:34.039 --> 00:08:35.519 No holding treasuries. 157 00:08:35.600 --> 00:08:38.919 Yeah yeah, I mean they create these treasuries, they print 158 00:08:38.960 --> 00:08:41.120 the dollars. It's all fiat, it's all but you know, 159 00:08:41.200 --> 00:08:42.960 so they just roll this in. It's it's kind of 160 00:08:43.000 --> 00:08:47.080 another it's just another kind of uh, you know, derivative 161 00:08:47.200 --> 00:08:49.440 really on the US dollar, it's what they're talking about. 162 00:08:49.440 --> 00:08:51.559 But I mean, it looks like they're really seriously moving 163 00:08:51.559 --> 00:08:55.679 towards this when you got treasury reports talking about that. Amazing. 164 00:08:55.799 --> 00:08:59.159 It's not stable if it's tied to the dollar treasury bills, 165 00:08:59.200 --> 00:09:01.200 it's not stable. It's not a coin, of course, either, 166 00:09:01.240 --> 00:09:02.639 none of these things or outs. 167 00:09:02.759 --> 00:09:06.240 But I think this is how buvesy Seagulls sold Las Vegas. 168 00:09:07.039 --> 00:09:12.120 They just just kept selling, kept selling the stock and 169 00:09:12.879 --> 00:09:15.919 you know, ways to invest in over sold it. That's 170 00:09:16.039 --> 00:09:18.200 that's nothing new under the sun. That sounds to me. 171 00:09:18.240 --> 00:09:20.759 I've heard this movie. I've seen this movie before. I've 172 00:09:20.759 --> 00:09:21.519 heard this story. 173 00:09:21.679 --> 00:09:23.559 Oh yeah, yeah, so. 174 00:09:23.480 --> 00:09:26.399 We've seen gold with some profit taking and that type 175 00:09:26.480 --> 00:09:29.120 is the massive stuff as you point out in China. 176 00:09:29.240 --> 00:09:32.759 So it was up over thirty five right was the 177 00:09:32.840 --> 00:09:35.320 high that I got to. Now it's down what around 178 00:09:35.559 --> 00:09:37.360 in the thirty three hundred somewhere. 179 00:09:38.039 --> 00:09:41.240 And right as of right now, it's three two and 180 00:09:41.279 --> 00:09:45.600 twenty six lb n ls van Bankster notes per troyons. 181 00:09:46.919 --> 00:09:49.559 And I think that that is mostly profit taking, something 182 00:09:49.679 --> 00:09:52.600 stalled out. But I don't see it's trending. I don't 183 00:09:52.679 --> 00:09:55.639 see like a big sell off anytime soon day. And 184 00:09:55.639 --> 00:09:58.919 I think there's some there's some profit taking of the 185 00:09:58.960 --> 00:10:03.039 World Gold Council point out even this first, investors just regularly, 186 00:10:03.039 --> 00:10:07.440 not just government's but investors are running towards physical gold, 187 00:10:07.720 --> 00:10:11.000 and of course the big chunks of that are they 188 00:10:11.000 --> 00:10:14.039 think they're buying physical gold, they're buying ETFs. But I 189 00:10:14.080 --> 00:10:17.759 noticed another factor there that was interesting is that jewelry 190 00:10:17.759 --> 00:10:20.559 demand was down in the first quarter. It's just a 191 00:10:20.559 --> 00:10:23.879 lot of people buying physical bullion and investors, but the 192 00:10:23.960 --> 00:10:28.720 price of gold going up so high that jewelry is 193 00:10:28.960 --> 00:10:31.279 being put on the back burner for purchases. People may 194 00:10:31.279 --> 00:10:33.759 be waiting for prices to come down or sell offs 195 00:10:33.840 --> 00:10:36.759 or something like that. I don't think it. I don't 196 00:10:36.799 --> 00:10:40.440 think they're going to see once we've crossed three thousand David. 197 00:10:40.480 --> 00:10:41.679 I think they we're going to be there for a 198 00:10:41.720 --> 00:10:45.639 while and then it's upwards and onwards. At that I'm 199 00:10:45.639 --> 00:10:48.559 seeing an increase in urban gold mining. You hit these prices, 200 00:10:48.600 --> 00:10:52.759 people start looking around for scrap gold. It's worth it's 201 00:10:52.799 --> 00:10:55.519 worth selling, especially if if you paid for a big 202 00:10:55.559 --> 00:10:58.679 price for some jewelry at one time, maybe ten fifteen 203 00:10:58.759 --> 00:11:01.799 years ago, you're certainly going to get your money back 204 00:11:01.840 --> 00:11:02.360 at this point. 205 00:11:02.600 --> 00:11:04.639 Yeah. Yeah, Well, I think a lot of this, again 206 00:11:04.960 --> 00:11:11.799 is hinging off of Trump's actions, and it's so unstable 207 00:11:11.840 --> 00:11:15.200 that of course it's created some instabulity even for something 208 00:11:15.240 --> 00:11:17.480 like old But I think the fundamentals are nothing has changed. 209 00:11:17.519 --> 00:11:20.879 It's just like what we said in anticipation. After Trump 210 00:11:20.919 --> 00:11:22.799 has liked it, everybody was like, oh, that's it, it's 211 00:11:22.840 --> 00:11:25.960 over for gold. Everybody's going to move towards bitcoin out. 212 00:11:26.000 --> 00:11:28.440 I don't think that's going to be the case. But 213 00:11:28.519 --> 00:11:31.399 what we're seeing is is he's starting to retrench from 214 00:11:31.440 --> 00:11:34.279 some of this stuff. It's starting to have an effect 215 00:11:34.320 --> 00:11:37.840 in some of the markets. But I think that people 216 00:11:37.840 --> 00:11:40.879 are going to realize that he's not really going to 217 00:11:40.879 --> 00:11:43.720 retrench from that much of it, and when the consequences 218 00:11:43.879 --> 00:11:47.240 of what are going to be happening with essentially sanctions 219 00:11:47.279 --> 00:11:51.120 now being acted on the United States from China. That 220 00:11:51.200 --> 00:11:52.799 has yet to be felt. As I talked about the 221 00:11:52.840 --> 00:11:57.000 other day, it takes thirty to forty five days for 222 00:11:57.320 --> 00:12:00.240 the goods that would be in transit from China to 223 00:12:00.240 --> 00:12:03.399 get here, So we haven't felt the effect of that yet, 224 00:12:03.519 --> 00:12:06.120 and we're going to be feeling that not too far 225 00:12:06.159 --> 00:12:08.759 in the future. Once that starts to happen. It's just 226 00:12:08.840 --> 00:12:12.159 like once they start creating inflation by printing money up, 227 00:12:12.600 --> 00:12:15.440 sometimes they can't stop it. You know, It's like, Okay, 228 00:12:15.440 --> 00:12:17.080 that's enough, let's pull it back, and then it's got 229 00:12:17.080 --> 00:12:19.799 a thing. It's on its own. I think that's going 230 00:12:19.879 --> 00:12:21.919 to be the case with the economy in general. So 231 00:12:21.960 --> 00:12:24.440 that's why I think fundamentals have not really changed. No 232 00:12:24.480 --> 00:12:27.879 matter how many times Trump changes the tariffs, as long 233 00:12:27.919 --> 00:12:29.960 as he keeps them on, it's still going to be 234 00:12:30.679 --> 00:12:34.039 playing havoc on the supply chain and on the economy. 235 00:12:34.120 --> 00:12:36.360 And I think it's going to be reflected in that. 236 00:12:37.559 --> 00:12:40.639 Yeah, the trajectory for dedollarizations all still there, David, And 237 00:12:41.360 --> 00:12:45.679 you're writing in the fundamentals for the underlying causations for 238 00:12:46.159 --> 00:12:49.159 a week or dollar in the decline of the dollar 239 00:12:49.519 --> 00:12:52.440 are all right there, and those are increasing. The debt 240 00:12:52.480 --> 00:12:57.159 is increasing, the liabilities are increasing, and then the usage 241 00:12:57.159 --> 00:13:01.320 of the dollar is decreasing the same time. So those 242 00:13:01.360 --> 00:13:04.919 are not good the outliers and signposts on the road 243 00:13:05.000 --> 00:13:08.559 ahead for the United States monetary system and for the 244 00:13:08.600 --> 00:13:12.080 dollar itself. The world is moving away from that. In 245 00:13:12.120 --> 00:13:16.039 my opinion, gold has already supplanted the dollar. And I've 246 00:13:16.080 --> 00:13:18.600 said that before. I already think it's the world reserve currency. 247 00:13:18.759 --> 00:13:21.720 This time that's just using it's in name only using 248 00:13:21.759 --> 00:13:24.840 other currency for cross border payments, but not holding them. 249 00:13:25.200 --> 00:13:27.799 You know, I really will remind you, know your audiences 250 00:13:27.799 --> 00:13:31.919 are remind mine is that the number two held asset 251 00:13:32.000 --> 00:13:34.679 by central banks is gold. It used to be the 252 00:13:34.720 --> 00:13:36.799 euro and gold was way down. It was, you know, 253 00:13:36.840 --> 00:13:41.399 other currencies. But since twenty twenty one in Basel, Switzerland, 254 00:13:41.360 --> 00:13:45.879 when Basil three, when they redid the Bank of International 255 00:13:45.919 --> 00:13:48.320 Settlements to put gold as a Tier one asset instead 256 00:13:48.320 --> 00:13:52.720 of a Tier three asset, the central bank started holding gold. 257 00:13:52.759 --> 00:13:57.200 And that's happening. And again you look at the dumping 258 00:13:57.200 --> 00:14:00.080 of treasuries by the Chinese. They used to be the 259 00:14:00.080 --> 00:14:03.360 biggest buyer. Now they're the biggest seller. These strenths continue, 260 00:14:03.519 --> 00:14:06.240 they're going to continue, and you know, you can have 261 00:14:06.480 --> 00:14:09.120 like we can come week to week, and this week 262 00:14:09.120 --> 00:14:11.159 we're not talking about an all time high in gold, 263 00:14:11.240 --> 00:14:14.600 which is unusual for us because after the you know, 264 00:14:14.639 --> 00:14:17.720 going into this, you know, the election, after inauguration Day 265 00:14:17.759 --> 00:14:20.480 it started, you know, this trend started to reverse. Well, 266 00:14:20.559 --> 00:14:23.879 crypto went down, and like you mentioned, gold and silver 267 00:14:23.960 --> 00:14:28.279 went back up. But we're still at thirty two hundred 268 00:14:28.320 --> 00:14:30.519 plus dollars and ounce for gold, which you know, if 269 00:14:30.519 --> 00:14:32.080 I think if you told us a couple of years 270 00:14:32.120 --> 00:14:34.120 ago what that price would be, I'd be pretty shocking. 271 00:14:34.600 --> 00:14:37.000 And now it's just normal. And I think you're going 272 00:14:37.039 --> 00:14:38.960 to continue to see there's going to be profit taking 273 00:14:39.000 --> 00:14:42.279 and other things, but the fundamentals and underlying issues. 274 00:14:42.799 --> 00:14:44.080 What's wrong with our currency. 275 00:14:44.120 --> 00:14:47.240 Whether there's this, whether they build a lifeboat and some 276 00:14:47.279 --> 00:14:50.559 stable coin and you know, dress it up and try 277 00:14:50.600 --> 00:14:54.679 to repackage it, it doesn't really matter. It's uh, you know, 278 00:14:54.720 --> 00:14:57.799 the trend is moving away from the dollar worldwide. We're 279 00:14:57.799 --> 00:15:00.320 going to see these prices that are going to increase 280 00:15:00.360 --> 00:15:01.840 in gold. I don't know what the number is going 281 00:15:01.879 --> 00:15:03.080 to be but it'll be higher. 282 00:15:03.320 --> 00:15:03.799 I agree. 283 00:15:03.879 --> 00:15:04.039 Yeah. 284 00:15:04.159 --> 00:15:05.960 When you look at this report they came out from 285 00:15:06.000 --> 00:15:09.600 the Treasury, I mean they said in their report that 286 00:15:10.000 --> 00:15:14.120 stable coin promises to create quote a new financial market infrastructure. 287 00:15:14.679 --> 00:15:16.360 I mean, they're pretty much saying that they're putting all 288 00:15:16.360 --> 00:15:20.879 their eggs into that basket. They said stable coin collateral 289 00:15:20.960 --> 00:15:25.440 reportedly consists of either Treasury bills or Treasury backed repurchase 290 00:15:25.480 --> 00:15:28.039 agreements the repot market. I mean, they can't even throw 291 00:15:28.080 --> 00:15:30.600 their repost stuff in there, Tony. I guess that's how 292 00:15:30.639 --> 00:15:32.399 they get to two trillion dollars. To remember when that 293 00:15:32.440 --> 00:15:33.879 was happening, when we were talking about that in the 294 00:15:33.919 --> 00:15:37.320 fall of twenty nineteen. You know, they're throwing in massive 295 00:15:37.360 --> 00:15:40.720 amounts of fiat currency equivalent to the gross domestic product 296 00:15:40.799 --> 00:15:44.639 of Switzerland, you know, and just one transaction. And you know, 297 00:15:44.679 --> 00:15:47.919 so now they can do that into the stable coin thing. 298 00:15:47.960 --> 00:15:49.519 They can throw in the t bills, they can throw 299 00:15:49.559 --> 00:15:51.559 in the repost stuff, they can you know, it's all 300 00:15:51.600 --> 00:15:55.879 their garbage going into this this derivative, right they call 301 00:15:55.919 --> 00:15:59.840 a stable coin, and it'll be interesting to see what happens. See, 302 00:15:59.879 --> 00:16:02.720 that's the thing. I look at this stuff and Like 303 00:16:02.759 --> 00:16:06.159 I said, privacy is priceless. And we know that they're 304 00:16:06.159 --> 00:16:08.279 going to restructure the financial system, and we know we 305 00:16:08.279 --> 00:16:09.399 don't want to be a part of it. It's going 306 00:16:09.440 --> 00:16:11.559 to have you know, they're working with law enforcement now 307 00:16:11.559 --> 00:16:13.639 to track everything that people got. They're going to have 308 00:16:13.720 --> 00:16:17.240 new functions of smart contracts and other things like that 309 00:16:17.240 --> 00:16:20.679 that are going to be the way that they can 310 00:16:21.000 --> 00:16:25.519 apply these central bank digital currency operations to you to 311 00:16:25.559 --> 00:16:28.600 stop you from buying something, to monitor everything that you're buying, 312 00:16:28.799 --> 00:16:31.919 on and on. So all all those functions the CBDC 313 00:16:32.039 --> 00:16:35.559 are there. The lack of privacy and financial transactions is there, 314 00:16:35.879 --> 00:16:38.399 and and to me that is the key of trying 315 00:16:38.399 --> 00:16:40.200 to get outside of all that stuff. 316 00:16:41.759 --> 00:16:43.960 Well, I agree, and you know, you look at the 317 00:16:44.480 --> 00:16:48.639 economic conditions too or right for them to introduce this 318 00:16:48.600 --> 00:16:53.559 this crisis in the you know, the crisis needs a solution. 319 00:16:53.720 --> 00:16:56.759 They bring that in as problem reaction solution, and I 320 00:16:56.799 --> 00:17:00.000 think that's that's what they're waiting for. And it's maybe 321 00:17:00.279 --> 00:17:04.119 perhaps you could use the term controlled demolition kind of 322 00:17:04.119 --> 00:17:07.279 a Building seven scenario for the US currency. 323 00:17:07.680 --> 00:17:08.400 It's not good. 324 00:17:09.359 --> 00:17:12.599 You know, you mentioned earlier this week on the show, 325 00:17:12.640 --> 00:17:15.519 I caught a segment where you were talking about how 326 00:17:15.559 --> 00:17:17.880 it actually would be better. I mean, we better off 327 00:17:17.880 --> 00:17:20.559 in the long term if we weren't the world's reserve currency, 328 00:17:20.599 --> 00:17:25.599 because it would the leverage that the ruling class has 329 00:17:25.640 --> 00:17:29.160 over us with this to get us into wars, to 330 00:17:29.200 --> 00:17:31.480 expand the welfare state and the police state and the 331 00:17:31.519 --> 00:17:35.440 surveillance state. It's seemingly and pay people off and bribe 332 00:17:35.480 --> 00:17:38.480 people and all the rest. It's pure evil, and they've 333 00:17:38.519 --> 00:17:40.160 gotten away with it for so long. But if you 334 00:17:40.200 --> 00:17:44.319 had to be fiscally responsible and even remotely fiscally responsible, 335 00:17:45.480 --> 00:17:48.799 a lot of those things are curtailed, and I agree 336 00:17:48.839 --> 00:17:52.640 with that. There'd be some short term pain, but long 337 00:17:52.720 --> 00:17:54.839 term that would be we'd be better off because we're 338 00:17:54.839 --> 00:18:00.920 in this fix because of unlimited, seemingly unlimited currency creation. 339 00:18:01.359 --> 00:18:04.039 But they can't go on forever. I mean the mathematics, 340 00:18:04.079 --> 00:18:06.680 I think we're just reaching a tipping point. And you know, 341 00:18:06.720 --> 00:18:09.200 it's if you're in my business, it's like all the 342 00:18:09.240 --> 00:18:12.079 time the sky is falling it, but so one day 343 00:18:12.079 --> 00:18:13.920 it is. I mean, if you're a goldbug, you start 344 00:18:13.920 --> 00:18:16.720 looking at these n how does the US economy survive this? 345 00:18:16.839 --> 00:18:19.920 It's like eight or nine, So how do we survive 346 00:18:20.039 --> 00:18:23.200 tarp and bailing out banks and well, we survived it 347 00:18:23.359 --> 00:18:27.039 for a while, but those wounds, those things are still 348 00:18:27.079 --> 00:18:31.079 there when there's still you know, hundreds of zombie corporations 349 00:18:31.079 --> 00:18:33.400 and things that are left over from that. We still 350 00:18:33.519 --> 00:18:36.480 we never recovered from eight oh nine. It's just an 351 00:18:36.480 --> 00:18:40.640 expansion of the money supply and the debt are ever increasing. 352 00:18:40.880 --> 00:18:42.480 Like you mentioned, you know, this is going back to 353 00:18:42.519 --> 00:18:45.599 twenty nineteen, last quarter of the repo markets that we 354 00:18:45.640 --> 00:18:49.200 talked about six trillion in the overnights that were just 355 00:18:49.359 --> 00:18:50.000 out of thin air. 356 00:18:50.119 --> 00:18:54.160 That's leading up to COVID nineteen eighty four. 357 00:18:54.279 --> 00:18:57.599 Remember that, and it's burned into my mind because I 358 00:18:57.599 --> 00:19:00.559 I was watching it very closely. We're in a different 359 00:19:00.599 --> 00:19:02.960 world now though, I mean, the debt is exploded and 360 00:19:03.000 --> 00:19:06.279 now the geopolitical tensions are their trade issues all that. 361 00:19:07.720 --> 00:19:10.160 You're right though, at the end of the day, that's economic. 362 00:19:10.200 --> 00:19:13.160 But the end of the day, why do we you know, 363 00:19:13.240 --> 00:19:16.319 to talk about gold and silver and crypto Every week 364 00:19:16.359 --> 00:19:18.519 here on the show is to talk about privacy and 365 00:19:18.839 --> 00:19:21.559 how you can be outside of the system. And fortunately 366 00:19:21.599 --> 00:19:23.759 for us in this country, we still have the ability 367 00:19:23.799 --> 00:19:27.240 to take fake Fiat dollars and turn them into actual 368 00:19:27.279 --> 00:19:29.759 real money, and you can you can hold that in 369 00:19:29.799 --> 00:19:33.039 your hand and you can become your own bank, You 370 00:19:33.079 --> 00:19:36.160 can be your own you know, you can be in 371 00:19:36.240 --> 00:19:38.920 charge of your own financial destiny, especially in charge of 372 00:19:38.920 --> 00:19:40.160 your own privacy as well. 373 00:19:40.759 --> 00:19:43.119 Yeah, it's always you know, their geopolitics and whether we 374 00:19:43.119 --> 00:19:45.759 wanted to even domestically is always tied together with all 375 00:19:45.799 --> 00:19:48.640 of this. You know the financial aspects of it, of course, 376 00:19:49.440 --> 00:19:52.480 and it's going to be a real painful situation, but 377 00:19:52.519 --> 00:19:55.839 we would be better off without the dollar, that without 378 00:19:56.039 --> 00:19:59.200 our government being able to just print dollars out of 379 00:19:59.240 --> 00:20:01.640 thin air and have to be accountable for They were 380 00:20:01.680 --> 00:20:04.519 the only country that can do that, and that's been 381 00:20:04.559 --> 00:20:08.160 our superpower. And because we've used that as a superpower 382 00:20:08.200 --> 00:20:10.240 and we've used it as a weapon, now we've got 383 00:20:10.279 --> 00:20:13.079 a lot of enemies who are looking at how they 384 00:20:13.079 --> 00:20:16.720 can take down our financial system, and you know that 385 00:20:16.759 --> 00:20:20.400 they're all working to do that, and it shouldn't be 386 00:20:20.440 --> 00:20:22.920 that hard, quite frankly. And then you've got people inside 387 00:20:22.960 --> 00:20:26.640 the Trump administration like Eric Trump who went to Dubai 388 00:20:26.680 --> 00:20:30.880 and he's speaking to all of these crypto conferences and everything, 389 00:20:30.920 --> 00:20:32.680 but he's telling people. He says, there's not going to 390 00:20:32.720 --> 00:20:36.200 be any private banks in ten years. Sounds just like 391 00:20:36.480 --> 00:20:38.920 Joe Biden and this EVDC stuff. But it's there going 392 00:20:38.960 --> 00:20:40.920 to be their stable coin. I think that's going to 393 00:20:40.920 --> 00:20:41.559 be out there to. 394 00:20:41.440 --> 00:20:46.240 Do that says the same outcome. Yeah, exactly, a different team. 395 00:20:46.680 --> 00:20:49.480 Outcome, same goals. You know, it's a freedom city versus 396 00:20:49.480 --> 00:20:50.599 a fifteen minute city. 397 00:20:50.759 --> 00:20:51.640 Yeah, same thing. 398 00:20:52.720 --> 00:20:55.160 Yeah, that's what we're up against. And you know it's 399 00:20:55.200 --> 00:20:59.279 interesting because I do it's at least until I changed 400 00:20:59.279 --> 00:21:03.480 my mind, still an advocate of bitcoin, and my company 401 00:21:03.519 --> 00:21:06.599