WEBVTT 1 00:00:04.879 --> 00:00:07.280 All right, welcome back, and joining us now is Tony Ardaman. 2 00:00:07.320 --> 00:00:10.000 I began the program by talking about American Dream Now 3 00:00:10.000 --> 00:00:12.960 it's getting pushed out of our reach by subsidies and 4 00:00:13.039 --> 00:00:16.160 welfare magnets that pull people into this country. But Tony 5 00:00:16.239 --> 00:00:19.480 Ardaman wise wolf Gold and he's kindly set up David 6 00:00:19.519 --> 00:00:21.199 Knight dot Gold to take you there. And of course 7 00:00:21.199 --> 00:00:23.440 Tony can help you if you want to try to 8 00:00:24.160 --> 00:00:27.120 have wealth insurance, if you want to try to preserve 9 00:00:27.160 --> 00:00:29.559 your wealth, if you want to try to have privacy, 10 00:00:30.719 --> 00:00:33.759 gold and silver are really the best ways to do that. 11 00:00:34.000 --> 00:00:37.439 And he can handle small or large transactions. And Tony 12 00:00:37.600 --> 00:00:40.359 has something very unique with wolf Pack. You can determine 13 00:00:40.359 --> 00:00:44.679 how much you want to gradually save on a monthly basis, 14 00:00:44.920 --> 00:00:46.880 and you can sign up at a particular tier. He's 15 00:00:46.880 --> 00:00:49.240 got a lot of different dollar amounts per month and 16 00:00:49.479 --> 00:00:51.600 you'll get gold and silver each month, and you'll be 17 00:00:51.600 --> 00:00:56.439 able to participate in a group by discount. It can 18 00:00:56.439 --> 00:00:57.960 also help you if you want to set up a 19 00:00:57.960 --> 00:01:01.479 metals IRA gold or silver for IRA, so Tony can 20 00:01:01.520 --> 00:01:04.480 help you with all that stuff. Thank you for joining us, Tony. 21 00:01:05.040 --> 00:01:06.760 Always great to be here. David, thanks for having me, 22 00:01:06.959 --> 00:01:09.439 thank you. What's on your mind? I mean, I'm looking 23 00:01:09.480 --> 00:01:11.760 at these art should the dollar be backed by gold? 24 00:01:12.560 --> 00:01:14.480 Just talking the other day, but you mentioned all the 25 00:01:14.519 --> 00:01:17.439 time about currency versus money and all the rest of 26 00:01:17.439 --> 00:01:21.079 this stuff, and you know, I think that's that's kind 27 00:01:21.079 --> 00:01:23.719 of a rhetorical question that he's putting there, you know, 28 00:01:23.799 --> 00:01:27.000 the the what is the difference between money and a currency? 29 00:01:27.560 --> 00:01:29.879 And so that's one of the things that people need 30 00:01:29.920 --> 00:01:32.640 to start to get their perspective right. I think they 31 00:01:32.719 --> 00:01:36.560 need to understand the difference between those things. And you know, 32 00:01:36.599 --> 00:01:39.319 we talk about backing a currency by gold. Some people 33 00:01:39.359 --> 00:01:41.959 have started doing that with cryptocurrency and some other things. 34 00:01:42.000 --> 00:01:46.079 But gold is is the thing, isn't it. I Mean, 35 00:01:46.120 --> 00:01:49.359 that's a you don't really need the dollar is there. 36 00:01:49.359 --> 00:01:51.640 It's not going to be backed by anything. And they're 37 00:01:51.680 --> 00:01:54.079 not going to make it honest by even putting gold 38 00:01:54.159 --> 00:01:55.560 behind it, are they. 39 00:01:56.439 --> 00:01:57.680 No, we've tried that before. 40 00:01:57.799 --> 00:02:00.319 Yeah, and Franklin Roosevelt made it illegal free to own 41 00:02:00.319 --> 00:02:02.239 gold in nineteen thirty three, but we still had a 42 00:02:02.599 --> 00:02:07.640 quote unquote gold standard until nineteen seventy one. And you know, 43 00:02:07.680 --> 00:02:09.680 the rest of the world took notice. They realized that 44 00:02:09.719 --> 00:02:13.319 we were writing checks, you know, against funds that we 45 00:02:13.360 --> 00:02:16.560 didn't have. They started cashing in their dollars at the 46 00:02:16.560 --> 00:02:19.000 gold window. So Richard Nixon closed the gold window. We 47 00:02:19.039 --> 00:02:21.280 took the silver out of our coinage. Starting in nineteen 48 00:02:21.360 --> 00:02:24.599 sixty five, we debased it, and again the rest of 49 00:02:24.599 --> 00:02:27.439 the world noticed that. So I don't think a gold 50 00:02:27.479 --> 00:02:31.000 standard is necessarily what we need. However, I would point 51 00:02:31.039 --> 00:02:33.919 to all the central banks, not ours, but all the 52 00:02:33.960 --> 00:02:35.039 central banks around. 53 00:02:34.840 --> 00:02:36.800 The world buying gold right now. 54 00:02:36.960 --> 00:02:40.280 They believe, I think that their currencies will be re 55 00:02:40.400 --> 00:02:44.039 monetized against their gold holdings, and I think that's just 56 00:02:44.120 --> 00:02:46.360 kind of a trend. They got to run the simulation 57 00:02:46.560 --> 00:02:51.520 seeing that, you know, the currency creation worldwide is unsustainable. 58 00:02:51.639 --> 00:02:56.639 They inflate their way out of deficits and bubbles and crashes, 59 00:02:57.120 --> 00:03:00.000 and it's just going to continue to debase and devalue 60 00:03:00.039 --> 00:03:00.719 their own currency. 61 00:03:00.759 --> 00:03:03.439 So something's got to happen. You know. 62 00:03:03.599 --> 00:03:06.719 The Davos crowd calls it the Great Reset. That's what 63 00:03:06.759 --> 00:03:10.879 they're looking to do. So you know, the dollar, the 64 00:03:10.919 --> 00:03:15.479 dollar is in real trouble. We just noticed that the 65 00:03:15.520 --> 00:03:19.280 second largest reserve asset in the world is now gold. 66 00:03:19.280 --> 00:03:22.400 It's supplanted the euro. The first is the dollar, but 67 00:03:22.479 --> 00:03:25.599 we can see that waning. There was an article up 68 00:03:25.680 --> 00:03:32.080 in the Financial Times yesterday about cross border payments are 69 00:03:32.080 --> 00:03:35.479 now at an all time high between Russia and China. 70 00:03:36.039 --> 00:03:39.000 So all the weaponization of the dollar over the past 71 00:03:39.080 --> 00:03:42.240 many decades, but especially in the last five years, has 72 00:03:42.560 --> 00:03:44.360 accelerated d dollarization. 73 00:03:44.439 --> 00:03:46.639 See that's the keys. It's slow. 74 00:03:47.000 --> 00:03:49.400 I mean, you know, we talk every week and we've 75 00:03:49.400 --> 00:03:52.599 mentioned the petro dollar every week. We're some of the 76 00:03:52.680 --> 00:03:56.800 few people talking about it, which is is monumental what happened. 77 00:03:56.840 --> 00:04:00.280 I mean, it's cataclysmic for loss of purchasing power and 78 00:04:00.360 --> 00:04:01.879 the dollar long term. 79 00:04:01.520 --> 00:04:02.680 But nobody's talking about it. 80 00:04:02.719 --> 00:04:04.960 We lost the petrol, we're losing the petro dollar, but 81 00:04:05.000 --> 00:04:08.080 it's still in the shadow of itself because eighty percent 82 00:04:08.120 --> 00:04:11.800 of the energy payments still go on in dollars. But again, 83 00:04:12.000 --> 00:04:14.439 you can see the trend, and the trend is to 84 00:04:14.560 --> 00:04:17.480 dump the dollar. These countries are figuring out a way 85 00:04:17.519 --> 00:04:21.040 to do it. I think the key here if you're 86 00:04:21.079 --> 00:04:25.439 watching commodities is that gold is the world's reserve currency. 87 00:04:26.120 --> 00:04:28.720 Just figuring out a way because it is physical, like 88 00:04:28.759 --> 00:04:31.040 figuring out a way to use it as a cross 89 00:04:31.040 --> 00:04:35.439 border payment, use it to settle debts, you know, and 90 00:04:35.480 --> 00:04:37.319 to do that transactionally. 91 00:04:37.759 --> 00:04:38.920 And that's what's happening. 92 00:04:38.920 --> 00:04:41.920 That's what I think people mistake, you know, the bricks 93 00:04:42.040 --> 00:04:44.279 nations and they have a meeting coming out. I think 94 00:04:44.279 --> 00:04:47.160 they mistake that for them coming out with their own currency, 95 00:04:47.199 --> 00:04:49.680 and they might come out with something, but the goal 96 00:04:49.759 --> 00:04:52.839 there will not be to supplant the US dollar is 97 00:04:52.920 --> 00:04:57.199 some new reserve currency that everyone uses. It'll be a way, 98 00:04:57.399 --> 00:05:01.000 in my opinion, for all of them and for countries 99 00:05:01.000 --> 00:05:03.680 in their periphery and who they do business with to 100 00:05:03.800 --> 00:05:06.839 transact outside of the dollar system. It won't necessarily be 101 00:05:06.959 --> 00:05:10.920 that it'll be one currency or one thing. But again, 102 00:05:10.959 --> 00:05:13.000 the CBDC plans. 103 00:05:12.639 --> 00:05:13.480 That are drawn up. 104 00:05:13.920 --> 00:05:17.319 The World Economic Forum was growing about that a couple 105 00:05:17.360 --> 00:05:19.720 of months ago, that ninety six percent of all countries 106 00:05:19.720 --> 00:05:23.120 had a central bank digital currency plant in action or 107 00:05:23.199 --> 00:05:24.040 being implemented. 108 00:05:24.439 --> 00:05:27.120 That's what really is the I think the future. 109 00:05:27.160 --> 00:05:30.639 It's it's gold and digital currencies in these cross border 110 00:05:30.680 --> 00:05:33.879 payment systems. The dollar is getting shoved out of the way, 111 00:05:34.480 --> 00:05:35.639 but it's not happening. 112 00:05:35.879 --> 00:05:37.800 It's not happening so fast that. 113 00:05:37.959 --> 00:05:42.040 The mainstream media is paying attention to it, but we 114 00:05:42.120 --> 00:05:43.000 certainly Yeah. 115 00:05:42.839 --> 00:05:44.639 I agree, Yeah, I think that is the goal. They're 116 00:05:44.639 --> 00:05:47.720 going to have a CBDC. It'll be interoperable, so they'll 117 00:05:47.759 --> 00:05:50.319 be each of the central banks will have a digital 118 00:05:50.360 --> 00:05:54.199 currency that'll be there and they'll be interoperable. But they 119 00:05:54.240 --> 00:05:58.279 see a lot of unrest and chaos in the interim 120 00:05:58.399 --> 00:06:00.720 as we're transitioning to the stuff, and so they're going 121 00:06:00.800 --> 00:06:04.600 to they're accumulating goal to help with that chaos. And 122 00:06:04.920 --> 00:06:07.680 it kind of reminds me of we used to go 123 00:06:07.720 --> 00:06:12.079 to Williamsburg and Colonial Williamsburg when the kids were young, 124 00:06:12.279 --> 00:06:16.240 and they would have these an actors, re enactors that 125 00:06:16.279 --> 00:06:19.399 would play different characters like Jefferson or whatever. Let's say, 126 00:06:19.399 --> 00:06:21.560 where are you from, sir, you know, from North Carolina 127 00:06:21.600 --> 00:06:23.959 or whatever. Oh, well, you know, the banks they're kind 128 00:06:23.959 --> 00:06:26.079 of shady, you know that they don't really have the 129 00:06:26.759 --> 00:06:30.680 money to back the reserves that are there. And it 130 00:06:30.759 --> 00:06:32.199 used to make me think about that. It's like, yeah, 131 00:06:32.240 --> 00:06:34.680 you know, there used to not be any central bank 132 00:06:34.959 --> 00:06:37.759 during the time of Jefferson or the rest of stuff, 133 00:06:37.759 --> 00:06:40.160 and so it really was a faith and good credit 134 00:06:40.720 --> 00:06:43.279 of a particular bank and they would have to have 135 00:06:44.240 --> 00:06:45.879 if you're going to write a check or do a 136 00:06:45.959 --> 00:06:49.439 draft on that bank. It had to have a good reputation. 137 00:06:50.000 --> 00:06:52.199 And it kind of was driven home when we went 138 00:06:52.240 --> 00:06:56.199 to Hong Kong and we changed our money into the 139 00:06:56.240 --> 00:06:58.079 Hong Kong dollars, and I was back in the hotel 140 00:06:58.120 --> 00:07:01.319 looking at it because they were very different in terms 141 00:07:01.399 --> 00:07:04.519 of color or anything. And I noticed that they had 142 00:07:05.199 --> 00:07:10.480 radically different same denomination. It would be radically different colors 143 00:07:10.480 --> 00:07:12.959 and anything. And then I look closely and one of 144 00:07:13.000 --> 00:07:16.519 them was issued by a bank there in Hong Kong, 145 00:07:16.879 --> 00:07:18.959 and then the other one that looked very different was 146 00:07:19.040 --> 00:07:21.759 issued by a different bank. So we started looking this up, 147 00:07:21.759 --> 00:07:23.600 and it's like, this is the way it used to 148 00:07:23.600 --> 00:07:26.079 be in colonial times. You would have the different commercial banks, 149 00:07:26.079 --> 00:07:30.279 for example, would be issuing their own currencies or their 150 00:07:30.319 --> 00:07:32.240 own drafts or whatever. And that's the way they actually 151 00:07:32.279 --> 00:07:34.079 did it in Hong Kong. And so that's really kind 152 00:07:34.079 --> 00:07:37.560 of what the central banks are doing. As you're pointing out, 153 00:07:36.399 --> 00:07:44.560 they're going to be issuing their currency or their digital currency, and. 154 00:07:43.360 --> 00:07:44.680 In order for people to. 155 00:07:46.279 --> 00:07:48.399 Believe that they're going to be good for it, they're 156 00:07:48.439 --> 00:07:50.040 going to have to show that they've got some gold 157 00:07:50.040 --> 00:07:54.079 there and that's why they're accumulating that, right. 158 00:07:54.120 --> 00:07:56.639 And you see countries like Zimbabwe, it used to be 159 00:07:56.680 --> 00:08:00.680 the laughing stock reading the trillion dollar notes. They're moving 160 00:08:00.720 --> 00:08:04.519 to a gold back digital currency. Same with Nigeria, and 161 00:08:04.560 --> 00:08:07.399 there's others that are popping up. These are the testing grounds. 162 00:08:07.839 --> 00:08:10.160 I think that's what really moving to. I think gold 163 00:08:10.279 --> 00:08:14.480 will become known as the world's reserve currency, if you will, 164 00:08:14.560 --> 00:08:19.120 But all the digitized currencies in the periphery and these 165 00:08:19.439 --> 00:08:22.079 nations will be used for cross border payments. And again 166 00:08:22.079 --> 00:08:24.560 there'll be probably a big market share of the Chinese 167 00:08:24.600 --> 00:08:27.120 you want, and there still will be dollars and all 168 00:08:27.160 --> 00:08:30.160 the rest. But I think what really needs to be 169 00:08:30.199 --> 00:08:33.279 emphasized is that the economic world order that was set 170 00:08:33.360 --> 00:08:36.039 up in nineteen forty four at Breton Woods is crumbling. 171 00:08:36.120 --> 00:08:37.960 This is part of the you talk about it all 172 00:08:37.960 --> 00:08:39.759 the time. This is part of the fourth turning where 173 00:08:39.799 --> 00:08:44.759 institutions get scrapped and reset, and we're really watching that. 174 00:08:44.919 --> 00:08:48.240 This is going to bring a lot of economic chaos home. 175 00:08:48.399 --> 00:08:52.559 Those dollars get repatriated, something called Triffin's dilemma. You know 176 00:08:52.639 --> 00:08:55.639 what happens when we stocked all these central banks around 177 00:08:55.679 --> 00:08:59.039 the world with dollars and they repatriate them back home 178 00:08:59.120 --> 00:09:01.159 to the to its origin, which is here in the 179 00:09:01.200 --> 00:09:02.000 United States. 180 00:09:02.200 --> 00:09:04.120 It will further devalue the dollar. 181 00:09:04.879 --> 00:09:07.320 It is interesting to watch, you know, I read a 182 00:09:07.360 --> 00:09:10.639 lot of economic history, and you're absolutely right. The nineteenth 183 00:09:10.679 --> 00:09:13.240 century we didn't have inflation. Now there was problems with 184 00:09:13.320 --> 00:09:16.559 different banks. You know, when you have decentralization and a 185 00:09:16.639 --> 00:09:18.960 free market, there's always going to be problems, but nothing 186 00:09:19.039 --> 00:09:22.159 like the corruption of controlling the money supply through. 187 00:09:22.120 --> 00:09:23.720 The Federal Reserve. 188 00:09:24.200 --> 00:09:27.799 You know, the life of JP Morgan, he was born 189 00:09:27.919 --> 00:09:30.720 in eighteen thirty seven, which was year one of us 190 00:09:30.759 --> 00:09:33.960 not having a central bank. Andrew Jackson killed the second 191 00:09:34.000 --> 00:09:36.960 bank in the United States. He wanted that on his tombstone, 192 00:09:36.960 --> 00:09:39.120 by the way, he wanted I killed the bank on 193 00:09:39.159 --> 00:09:42.399 his tombstone. But JP Morgan was born in eighteen thirty seven. 194 00:09:42.440 --> 00:09:45.879 He died in nineteen thirteen. His life was the exact 195 00:09:45.960 --> 00:09:50.480 span of the United States and not having a central bank. 196 00:09:51.039 --> 00:09:53.360 And again they called it a Federal Reserve. They met 197 00:09:53.399 --> 00:09:56.399 at Jekyl Island on November twenty second, nineteen ten. Three 198 00:09:56.480 --> 00:09:59.879 years later they had the Federal Reserve and acted. Of course, 199 00:10:00.080 --> 00:10:03.679 you've talked about that many times. It's a wonderful lie 200 00:10:04.480 --> 00:10:08.720 because it was based off the you know, the timeframe 201 00:10:08.799 --> 00:10:13.919 going into to Christmas. So we really, I think, taking 202 00:10:13.960 --> 00:10:17.639 a step back, what we're watching is the decline of 203 00:10:17.679 --> 00:10:21.159 the dollar deed. Dollarization is real. It's happening. It's happening 204 00:10:21.519 --> 00:10:24.600 faster than that I had anticipated. I've been talking about 205 00:10:24.600 --> 00:10:28.240 this for years, but especially since the invasion of Ukraine 206 00:10:28.279 --> 00:10:31.320 by Russia and the sanctions placed on that, other countries 207 00:10:31.320 --> 00:10:34.840 have taken notice and they're just dumping the system altogether 208 00:10:35.240 --> 00:10:38.480 and moving on. And that's why gold right now is 209 00:10:38.519 --> 00:10:41.279 over twenty five hundred dollars an ounce. David, I really 210 00:10:41.279 --> 00:10:43.600 didn't think i'd see these prices either, and I'm in 211 00:10:43.639 --> 00:10:44.240 this business. 212 00:10:44.279 --> 00:10:44.759 I didn't think. 213 00:10:44.759 --> 00:10:48.960 I haven't been crowing about, you know, twenty five hundred 214 00:10:48.960 --> 00:10:51.240 dollars gold that I can remember. I thought, well, well, 215 00:10:51.240 --> 00:10:54.000 you do certainly break twenty twenty one hundred. Certainly, certainly, 216 00:10:54.039 --> 00:10:57.360 you know, but these are prices that even territory that 217 00:10:57.480 --> 00:10:58.879 I had not anticipated. 218 00:11:00.320 --> 00:11:02.799 This second. Yeah, I still think it's cheap. 219 00:11:02.720 --> 00:11:05.159 By the way, I mean, just for all intents and prose, 220 00:11:05.159 --> 00:11:07.600 I still think it's cheap. But really, what this is 221 00:11:07.639 --> 00:11:10.240 a reflection of is loss of confidence in the dollar 222 00:11:10.279 --> 00:11:11.799 itself as a reserve asset. 223 00:11:11.840 --> 00:11:14.440 That's why gold has now supplanted the euro. 224 00:11:14.600 --> 00:11:17.240 I'll say again, it's supplanted the euro as the second 225 00:11:17.279 --> 00:11:20.559 largest reserve asset. You got to remember the Bank of 226 00:11:20.600 --> 00:11:25.639 International Settlements in Basel, Switzerland made it a Tier one 227 00:11:25.840 --> 00:11:29.279 asset a few years ago. Gold itself, it hadn't been 228 00:11:29.639 --> 00:11:33.080 for a long time. So we're really witnessing something historic here. 229 00:11:33.679 --> 00:11:36.480 Yeah, and so you know we've got we had the 230 00:11:36.519 --> 00:11:39.480 meeting in Jackson Hole they love to call it j 231 00:11:39.639 --> 00:11:41.559 Hole and I call them the A Holes and jhle 232 00:11:41.960 --> 00:11:43.960 deciding when not they're going to what they're gonna do 233 00:11:44.000 --> 00:11:45.879 with money. They're going to increase the supplier are They're 234 00:11:45.879 --> 00:11:48.320 going to charge more or less for interest rates and 235 00:11:48.360 --> 00:11:52.399 things like that, and everybody's expecting they're going to change 236 00:11:52.480 --> 00:11:55.799 interest rates in September and then of course in October 237 00:11:56.279 --> 00:11:59.919 we have the Bricks Summit and that'll be all about 238 00:12:00.039 --> 00:12:04.879 de dollarisation and having multi polar financial centers and that 239 00:12:04.919 --> 00:12:08.960 type of thing, breaking away from the dollar. So yeah, 240 00:12:09.279 --> 00:12:11.679 at twenty five hundred dollars and it's gone up and 241 00:12:11.720 --> 00:12:14.039 set several new all time highs in the last couple 242 00:12:14.039 --> 00:12:17.559 of weeks, and it'll retrench and it'll bounce around. But 243 00:12:18.639 --> 00:12:22.000 I think long term we're looking at something not even 244 00:12:22.000 --> 00:12:24.639 long term, you know, by next year and certainly after 245 00:12:24.679 --> 00:12:27.440 the election, I think we're looking at it going up 246 00:12:27.519 --> 00:12:30.559 quite a bit higher. And that's just really, as you 247 00:12:30.559 --> 00:12:32.919 point out all the time, it's really the dollar that 248 00:12:33.039 --> 00:12:35.000 is going down, and that's what we're seeing. We're seeing 249 00:12:35.000 --> 00:12:40.799 the crash of this field currency out of Washington as 250 00:12:40.879 --> 00:12:43.279 they want to tell everybody worldwide what to do. 251 00:12:43.320 --> 00:12:43.519 Now. 252 00:12:43.840 --> 00:12:46.759 I got a question, though, did did they put that 253 00:12:46.840 --> 00:12:48.919 I killed the bank on his tombstone? No? 254 00:12:49.360 --> 00:12:53.320 Unfortunately no, But yeah, there's a lot of great history. 255 00:12:53.559 --> 00:12:58.039 Andrew Jackson just despised the banksters. He said, a din 256 00:12:58.080 --> 00:13:00.320 of vipers and thieves and he's going to route them out. 257 00:13:00.879 --> 00:13:05.600 And it's it's in theory you look at the conspiracy. 258 00:13:05.639 --> 00:13:09.120 Theory is that his would be assassin who he caned 259 00:13:09.320 --> 00:13:13.720 by the way they misfired the pistol misfired. He came 260 00:13:13.840 --> 00:13:18.039 the man in public. Supposedly that person was a Roschilds agent. 261 00:13:18.519 --> 00:13:21.960 You never know, but definitely he was an enemy of 262 00:13:22.320 --> 00:13:26.600 international finance and the last person to really stand up 263 00:13:27.200 --> 00:13:31.000 to that cartel, and it lasted a long time. They 264 00:13:31.000 --> 00:13:36.279 had because of his opposition to a central bank and 265 00:13:36.360 --> 00:13:37.360 talking to the people. 266 00:13:38.480 --> 00:13:41.080 It took that long. It took decades. It took the 267 00:13:41.120 --> 00:13:44.039 lifespan of JP Morgan to put it, to put a 268 00:13:44.080 --> 00:13:46.720 central bank back in place in the United States, and 269 00:13:46.759 --> 00:13:49.360 they knew not to call it that. That's why they came. 270 00:13:49.480 --> 00:13:50.799 The language is very important. 271 00:13:51.440 --> 00:13:53.840 It's not federal, but they call it a federal reserve, 272 00:13:54.000 --> 00:13:57.360 and there's no reserves there. It's just it's just a 273 00:13:57.399 --> 00:14:01.279 scheme to control the money supply. And somebody like Andrew 274 00:14:01.320 --> 00:14:02.399 Jackson understood that. 275 00:14:02.919 --> 00:14:04.320 Yeah, it was interesting. 276 00:14:04.360 --> 00:14:09.399 I saw an article that that that pistol that had misfired. 277 00:14:09.720 --> 00:14:11.720 I don't know if it's maybe one or two pistols 278 00:14:11.720 --> 00:14:14.399 that the guy had or whatever, but you point out 279 00:14:14.440 --> 00:14:16.600 that it misfired, and he caned the guy and they 280 00:14:16.679 --> 00:14:18.799 got the guy. But they put those pistols in a museum, 281 00:14:19.320 --> 00:14:22.320 and in recent times they took them out and they fired. 282 00:14:24.240 --> 00:14:27.320 So I don't know that. It's kind of interesting. You know, 283 00:14:28.039 --> 00:14:31.200 God is sovereign and different things whatever he does. But 284 00:14:31.559 --> 00:14:34.799 when we look at speaking of misfires, we have the 285 00:14:34.879 --> 00:14:38.399 commercial real estate issues. We have five hundred and fifty 286 00:14:38.399 --> 00:14:42.279 seven billion dollars worth of value that has evaporated from 287 00:14:42.360 --> 00:14:45.559 US offices. And again when we look at the overall, 288 00:14:46.000 --> 00:14:48.039 when we're looking at chaos, we're looking at the client 289 00:14:48.120 --> 00:14:52.720 of the dollar, the cline of the financial system, especially 290 00:14:52.759 --> 00:14:55.679 the banks that are in jeopardy of this. I mean, 291 00:14:55.679 --> 00:14:57.799 where did this five hundred and fifty seven billion dollars 292 00:14:57.799 --> 00:15:00.879 worth of value evaporate? Well, it's really of evaporated from 293 00:15:00.919 --> 00:15:02.720 the banks, because these people are going to walk away 294 00:15:02.720 --> 00:15:06.360 and the banks are going to be holding the empty 295 00:15:06.480 --> 00:15:10.759 bag that was money before. We've got office buildings, one 296 00:15:10.759 --> 00:15:14.360 of them recently sold at and it worked out to 297 00:15:14.519 --> 00:15:18.000 twelve dollars a square foot. I mean, that's how the 298 00:15:18.039 --> 00:15:22.840 office crash has really come on. And it's really going 299 00:15:22.919 --> 00:15:25.879 to be the small and medium sized banks that are 300 00:15:25.879 --> 00:15:29.120 holding the bag with all the stuff as it's all evaporated. 301 00:15:30.200 --> 00:15:35.919 So I think this is indirect correlation to not suffering 302 00:15:35.960 --> 00:15:39.080 the paint the true pain of eight nine, you know, 303 00:15:39.159 --> 00:15:43.559 the tart funds and the injection of liquidity into the 304 00:15:43.600 --> 00:15:47.519 system to keep it from having a total crash. They 305 00:15:47.559 --> 00:15:49.799 just put a band aid on a sucking chess wound 306 00:15:49.840 --> 00:15:54.080 and now we're going to experience unfortunately. I don't think 307 00:15:54.120 --> 00:15:55.840 they can inflate their way out of it. I don't 308 00:15:55.840 --> 00:15:58.039 think they can print their way out of it. You're 309 00:15:58.039 --> 00:16:02.360 talking about a massive sit pachological loss of confidence as 310 00:16:02.360 --> 00:16:05.399 well in the market. But just we change patterns, you know, 311 00:16:05.480 --> 00:16:08.919 through the lockdowns and being not essential and you can't 312 00:16:08.960 --> 00:16:12.679 go into the office, and these companies outsourced and did 313 00:16:13.039 --> 00:16:17.000 everything over zoom. You could remember every time there's a 314 00:16:17.080 --> 00:16:20.360 commercial real estate loan, every time there's a residential real 315 00:16:20.480 --> 00:16:23.919 estate loan, that's currency creation. So where did it go? 316 00:16:25.080 --> 00:16:28.600 To the ether into the nowhere? It's gone? And you know, 317 00:16:28.679 --> 00:16:30.840 you look at this is why I keep going back to. 318 00:16:30.919 --> 00:16:34.200 If you look at the chart of actual so called 319 00:16:34.240 --> 00:16:38.720 wealth around the world, it's estimated like what four hundred trillion, 320 00:16:38.799 --> 00:16:41.039 and you see it in these big blocks of like 321 00:16:41.080 --> 00:16:44.120 all these sovereign wealth funds or currencies or stock markets. 322 00:16:44.879 --> 00:16:46.840 And then you look at the market cap of gold 323 00:16:46.879 --> 00:16:50.320 and it's sixteen trillion. How is that even possible? How 324 00:16:50.399 --> 00:16:52.080 is it possible that gold. 325 00:16:52.120 --> 00:16:54.720 The only thing really known is money in the history 326 00:16:54.759 --> 00:16:58.720 of the world, is only a sixteen trillion market cap 327 00:16:58.960 --> 00:17:01.679 in a world where that's those there's hundreds of trillions 328 00:17:02.080 --> 00:17:04.960 of assets. That doesn't make any sense to me. And 329 00:17:05.000 --> 00:17:07.480 I think what you're watching again, it's just something. There's 330 00:17:07.480 --> 00:17:10.559 a bubble of all bubbles. I don't think we can 331 00:17:10.599 --> 00:17:14.519 wrap our minds around what's going to happen when that collapses, 332 00:17:14.559 --> 00:17:15.759 because it'll be systemic. 333 00:17:16.160 --> 00:17:18.480 It'll be a malignancy that gets into everything. 334 00:17:19.160 --> 00:17:21.960 We just saw a flash crash on what August fifth 335 00:17:22.640 --> 00:17:25.680 across the markets and people have short memories, they just 336 00:17:25.759 --> 00:17:28.720 forgot about it already. But it looked bad, you know, 337 00:17:28.759 --> 00:17:31.200 it looked like there was going to be, you know, 338 00:17:31.839 --> 00:17:33.640 a greater fallout than there actually was. 339 00:17:34.200 --> 00:17:36.119 But I think that's just a stress test. That's just 340 00:17:36.160 --> 00:17:38.359 a little burt on the radar. 341 00:17:39.000 --> 00:17:41.799 But it's coming, and I think you will see a 342 00:17:41.920 --> 00:17:47.000 rush to assets and there'll be revaluations everywhere, and it'll 343 00:17:47.039 --> 00:17:49.920 be you know, to quote the Rothschild, we blood in 344 00:17:49.920 --> 00:17:50.359 the streets. 345 00:17:50.480 --> 00:17:53.400 Yeah, yeah, it's yeah. 346 00:17:53.680 --> 00:17:55.920 When that happened, I said, that's not even October yet, 347 00:17:55.960 --> 00:17:58.279 you know, because you see this kind of stuff happening 348 00:17:58.319 --> 00:18:01.279 in our betber the major stock market gratus, so it 349 00:18:01.359 --> 00:18:05.119 might just come back in October. But as that was happening. 350 00:18:05.279 --> 00:18:10.480 You saw gold go up significantly and so many different banks, 351 00:18:10.640 --> 00:18:13.079 Bank of America, JP, Morgan, many others. And of course 352 00:18:13.759 --> 00:18:17.200 as that was happening, you had weekly reports coming out. 353 00:18:17.319 --> 00:18:20.599 Zero Hedge picked up report from a gold fix and said, yeah, 354 00:18:20.680 --> 00:18:26.119 three thousand dollars goal. That's, you know, looking pretty reasonable 355 00:18:26.200 --> 00:18:30.039 at this point, just a few months out. And if 356 00:18:30.039 --> 00:18:31.640 you go back and look at how much it has 357 00:18:31.680 --> 00:18:34.599 gone up and just the last year, it truly is astounding, 358 00:18:34.640 --> 00:18:39.200 as you were saying before, but it is something that 359 00:18:39.359 --> 00:18:42.440 is kind of a harbinger of I think what is 360 00:18:42.640 --> 00:18:45.160 going to be happening this fall and certainly after the election. 361 00:18:45.759 --> 00:18:47.559 And that's why I think we're seeing these all time 362 00:18:47.640 --> 00:18:50.920 highs with gold. And it's not really when it pulls back. 363 00:18:50.960 --> 00:18:53.559 It's always does you know, you always have people taking 364 00:18:53.559 --> 00:18:56.640 profits with anything going up. It hasn't pulled back all 365 00:18:56.680 --> 00:18:59.839 that much. It's continually just slowly moving up. 366 00:19:01.279 --> 00:19:03.039 I've heard a lot of analysts say that to the 367 00:19:03.640 --> 00:19:07.559 price in gold is a reflection on future predictions of 368 00:19:07.599 --> 00:19:11.759 a Harris win in November, but I disagree. I think 369 00:19:11.799 --> 00:19:15.559 the price of gold keeps moving regardless of who's elected. 370 00:19:15.920 --> 00:19:19.920 This is this is macro This is geopolitical. This is 371 00:19:20.000 --> 00:19:23.960 about what we're talking about. Like, total debt worldwide is 372 00:19:24.079 --> 00:19:28.079 estimated three hundred and fifty trillion, So you got a 373 00:19:28.160 --> 00:19:32.440 debt to gross domestic product worldwide that's rivaling itself. These 374 00:19:32.480 --> 00:19:35.599 things are unsustainable, and you know there's there's a sense 375 00:19:35.599 --> 00:19:38.759 in the market that that's coming. But these are still 376 00:19:38.960 --> 00:19:42.279 cheap prices. Silver's just over thirty bucks. 377 00:19:42.319 --> 00:19:44.480 Let me check that. I'll check goldprice dot over. 378 00:19:44.680 --> 00:19:46.920 It's twenty nine to fifty nine on the spot price 379 00:19:47.000 --> 00:19:52.359 right now for the white metal. Fifty two fifty in 380 00:19:52.440 --> 00:19:55.319 nineteen eighty, David, Yeah, I'm fifty two to fifty in 381 00:19:55.400 --> 00:19:56.519 nineteen This is cheap. 382 00:19:57.000 --> 00:20:00.240 And what do you think? Gold was one and I 383 00:20:00.319 --> 00:20:00.680 was born. 384 00:20:00.960 --> 00:20:03.559 Gold was headed up to eight hundred dollars announce, you know, 385 00:20:03.839 --> 00:20:06.839 beginning of the seventies it was thirty five dollars announce. 386 00:20:06.839 --> 00:20:10.440 Into the seventies it was eight hundred dollars an ounce roughly. 387 00:20:11.119 --> 00:20:14.480 So you know what's eight hundred dollars announce in nineteen eighty, David, 388 00:20:14.599 --> 00:20:16.720 Is it more than twenty five hundred dollars? 389 00:20:16.799 --> 00:20:18.799 You bet, you bet it is. 390 00:20:19.400 --> 00:20:21.359 You know what you could get for eight hundred dollars 391 00:20:21.440 --> 00:20:25.559 in nineteen eighty. So really this is just we're denominating 392 00:20:26.319 --> 00:20:29.079 precious metals in dollars, and there will come a time 393 00:20:29.240 --> 00:20:32.359 when we don't. They'll be denominated in a different way. 394 00:20:32.519 --> 00:20:36.000 Maybe you know, in other commodities. There'll be a different chart. 395 00:20:36.279 --> 00:20:38.519 Because you know, the dollar in and of itself, we 396 00:20:38.640 --> 00:20:41.519 give psychological value to. It's something I study all the time, 397 00:20:41.559 --> 00:20:44.640 and it is weird that we do that because that's 398 00:20:44.720 --> 00:20:46.759 not part of our history. Can you imagine if we 399 00:20:46.759 --> 00:20:50.559 were founded America would have never made anything of itself. 400 00:20:50.559 --> 00:20:53.599 It was founded on a fiat currency. Yeah, the country 401 00:20:53.960 --> 00:20:57.519