WEBVTT 1 00:00:04.879 --> 00:00:06.519 All right, welcome back. And of course I heard the 2 00:00:06.519 --> 00:00:09.439 belt on Christmas Day. I was written during the Civil War. 3 00:00:09.519 --> 00:00:11.039 Guy was saying, wait a minute, what is all this 4 00:00:11.119 --> 00:00:14.080 about peace on earth? Well, it wasn't about that kind 5 00:00:14.119 --> 00:00:17.359 of peace. It definitely wasn't about that. But joining us 6 00:00:17.359 --> 00:00:20.120 now after Tony has had some peace, peace and quiet 7 00:00:20.160 --> 00:00:21.679 for a little bit of time. He took some time 8 00:00:21.719 --> 00:00:23.440 off for the holidays. Good to have you, aunt, Tony. 9 00:00:23.559 --> 00:00:24.519 How was your holidays? 10 00:00:25.160 --> 00:00:27.480 It was fantastic, David, It's great to see you again. 11 00:00:27.519 --> 00:00:29.480 It's good to be back. Took a little bit of 12 00:00:29.519 --> 00:00:34.119 time off and traveled a little bit and just again 13 00:00:34.200 --> 00:00:36.799 absorbing all this stuff going into twenty twenty five. I 14 00:00:36.840 --> 00:00:39.359 knew it was going to be turbulent. Just I felt 15 00:00:39.399 --> 00:00:42.960 like that going into twenty twenty and a lot of 16 00:00:42.960 --> 00:00:45.479 times the history doesn't repeat, but it rhymes. And they 17 00:00:45.479 --> 00:00:46.719 were starting it off with a bang. 18 00:00:46.759 --> 00:00:49.759 It looks like, oh yeah, absolutely, And we were talking 19 00:00:49.759 --> 00:00:52.600 about laughing about the fact that the Treachery got hacked. 20 00:00:52.600 --> 00:00:55.399 I talked about this, I guess on Tuesday. I said, 21 00:00:55.439 --> 00:00:57.759 it's only fair since they hacked our financial system that 22 00:00:57.799 --> 00:00:59.479 they would get hacked. But of course we don't know 23 00:00:59.600 --> 00:01:02.320 but it was the Chinese, as I said, because of 24 00:01:02.359 --> 00:01:05.319 Ault seven. What we do know is that it is 25 00:01:05.319 --> 00:01:08.000 impossible for them to know who hacked them. It could 26 00:01:08.000 --> 00:01:10.680 have been any state actor that could have made it 27 00:01:10.719 --> 00:01:12.680 look like the Chinese if in fact they did that, 28 00:01:13.000 --> 00:01:15.560 or it could be any individuals. It could be any 29 00:01:15.599 --> 00:01:17.719 criminals who wanted to do that. So we don't know. 30 00:01:17.799 --> 00:01:20.599 So they've obviously got an agenda to say that it 31 00:01:20.640 --> 00:01:22.239 was a Chinese who did it. And of course that's 32 00:01:22.239 --> 00:01:24.359 the other thing that's worrying about twenty twenty five, that 33 00:01:24.480 --> 00:01:25.319 is a war with China. 34 00:01:26.040 --> 00:01:28.959 That's right, And I mean, if if it was the Chinese, 35 00:01:29.040 --> 00:01:31.519 jokes on them, because we've already done the damage to 36 00:01:31.560 --> 00:01:34.599 our financial system ourselves. We don't need their help. It's 37 00:01:34.680 --> 00:01:36.719 kind of like the scene on Dumb and Dumber when 38 00:01:36.760 --> 00:01:39.120 they opened the briefcase. It's full of IOUs and they 39 00:01:39.120 --> 00:01:41.000 say those are io us. Those are better than money, 40 00:01:41.280 --> 00:01:43.439 and that's pretty much what our treasureries Doe. 41 00:01:43.799 --> 00:01:47.159 I never saw that movie. To see that scene, that's great. 42 00:01:47.200 --> 00:01:49.239 So what do you how do you look at the 43 00:01:49.280 --> 00:01:51.640 next year here when we look at gold and bitcoin. 44 00:01:51.719 --> 00:01:54.280 I mean, last time we talked, bitcoin was up at 45 00:01:54.280 --> 00:01:57.120 record highs and everything. It's now dropped down. Gold has 46 00:01:57.159 --> 00:01:58.719 dropped down. So what of course a lot of that's 47 00:01:58.760 --> 00:02:00.959 going to be year in profit taking. What do you 48 00:02:01.400 --> 00:02:04.000 see happening as we move forward. 49 00:02:04.400 --> 00:02:06.439 Well, that's exactly right on bitcoin. I think it's year 50 00:02:06.480 --> 00:02:09.800 in profit taking. And right now the whales are still 51 00:02:09.800 --> 00:02:13.199 accumulating bitcoin. I see a drive in price. I don't 52 00:02:13.240 --> 00:02:16.479 know some of the bitcoin maximist you know, they call 53 00:02:16.599 --> 00:02:19.199 for some wild predictions, you know, a million dollar Bitcoin 54 00:02:19.280 --> 00:02:21.280 in the next year and a half. I really don't 55 00:02:21.319 --> 00:02:24.520 see that. But I do see a continual trend upward 56 00:02:24.560 --> 00:02:26.960 as far as the dollar is concerned, and that's because 57 00:02:26.960 --> 00:02:29.039 we have a weaker dollar. I mean, the dollar is 58 00:02:29.039 --> 00:02:32.000 going to continue to lose purchasing power. And I know 59 00:02:32.080 --> 00:02:35.000 this because Trump's calling for the removal of the debt 60 00:02:35.039 --> 00:02:39.360 ceiling thirty six trillion dollars in debt that only increases 61 00:02:39.360 --> 00:02:41.919 about every one hundred days. You see another addition of 62 00:02:41.960 --> 00:02:44.319 about a trillion, So the dollar is going to have 63 00:02:44.360 --> 00:02:46.919 to be weakened in order to inflate their way out 64 00:02:46.960 --> 00:02:50.719 of all the fiscal damage that's been done over many decades. 65 00:02:50.719 --> 00:02:53.680 And that's again all accelerating the same thing with gold. 66 00:02:54.319 --> 00:02:57.120 Gold's going to continue against the dollar, will continue to 67 00:02:57.280 --> 00:03:00.000 rise in price. But these are all things that I think, 68 00:03:00.000 --> 00:03:02.319 I think, you know, we step back every week and 69 00:03:02.360 --> 00:03:04.599 we talk about this. It's not necessarily the gold is 70 00:03:05.520 --> 00:03:08.120 the best investment on earth or something. It's just money 71 00:03:08.879 --> 00:03:11.360 against something that is fake. Gold is always going to 72 00:03:11.400 --> 00:03:14.159 retain some sort of value, and we talk about that 73 00:03:14.280 --> 00:03:16.759 just relative to what it was purchasing power one hundred 74 00:03:16.840 --> 00:03:20.520 years ago. I mean, gold buys the same amount of land, crude, oil, clothing, 75 00:03:20.560 --> 00:03:23.599 and groceries that it did relative to you know, again 76 00:03:24.159 --> 00:03:28.879 price of inflation or you know, any statistical anomaly. Gold 77 00:03:28.919 --> 00:03:30.560 is going to buy about the same amount of product 78 00:03:30.599 --> 00:03:34.199 that it did one hundred years ago. And looking at 79 00:03:34.240 --> 00:03:36.800 the markets and everything that we're seeing now, there's no 80 00:03:36.919 --> 00:03:39.319 reason to think that we're going to get fiscally responsible. 81 00:03:39.599 --> 00:03:41.800 Even if you bring in something like the Doge thing 82 00:03:41.879 --> 00:03:45.840 with Elon Musk and Vivt. When I'm Aswami, you're still 83 00:03:45.879 --> 00:03:48.759 going to see even if they are able to lay 84 00:03:48.759 --> 00:03:51.479 off people and cut government spending, it's going to cause 85 00:03:51.560 --> 00:03:54.439 damage to the GDP. We are reliant on debt, We 86 00:03:54.520 --> 00:03:58.159 are reliant on the creation of cheap fiat currency to 87 00:03:58.879 --> 00:04:02.599 maintain this system, that system, and that's the fatal flaw 88 00:04:02.639 --> 00:04:05.319 in the fiat currency system, in the central banking system 89 00:04:05.759 --> 00:04:07.759 is in order to do anything, you have to create 90 00:04:07.800 --> 00:04:10.960 more currency. You know, that is the truth if you 91 00:04:11.000 --> 00:04:13.159 really boil it down, because we have a central bank, 92 00:04:13.159 --> 00:04:15.159 the way it works, if you were ever to try 93 00:04:15.199 --> 00:04:18.279 to pay off the debt, you would have to create 94 00:04:18.360 --> 00:04:21.480 more currency to do it. That's the snaky in its 95 00:04:21.480 --> 00:04:24.079 own tail. That was you know, the Federal Reserve itself. 96 00:04:24.120 --> 00:04:25.839 So we're not going to get out of that trap. 97 00:04:25.879 --> 00:04:28.879 And that's why I think things that are finite gold, silver, 98 00:04:29.040 --> 00:04:33.920 bitcoin against our modern you know, fiat currency monetary system, 99 00:04:34.000 --> 00:04:35.800 we're always going to be doing well. 100 00:04:36.199 --> 00:04:36.439 Yeah. 101 00:04:36.519 --> 00:04:38.920 Yeah, as Wyter fact, Trump doesn't believe that DOJ is 102 00:04:38.920 --> 00:04:41.120 going to work. Does He wouldn't be so adamant and 103 00:04:41.279 --> 00:04:45.240 angry about getting the debt ceiling rays for another two 104 00:04:45.319 --> 00:04:47.120 years if he thought DOZE was going to do anything. 105 00:04:47.160 --> 00:04:48.839 He knows it's not going to do anything. They've had 106 00:04:48.879 --> 00:04:52.920 commission after commission go out and make recommendations, and of 107 00:04:52.920 --> 00:04:55.920 course Congress won't act on it. So yeah, it isn't 108 00:04:55.959 --> 00:04:58.240 going to really make any difference with that well, you 109 00:04:58.279 --> 00:05:02.319 were you know, I guess the last week or so 110 00:05:03.120 --> 00:05:06.720 I talked about the fact that there was there was 111 00:05:06.720 --> 00:05:09.879 an article saying that for every dollar that the government spends, 112 00:05:09.879 --> 00:05:13.079 it takes five dollars out of the GDP in many cases, 113 00:05:13.120 --> 00:05:15.879 but I'm sorry for taxes, should say every dollar in taxes, 114 00:05:15.920 --> 00:05:18.959 it takes five dollars out of the GDP. But E 115 00:05:19.000 --> 00:05:23.800 said for every bureaucrat job, that one bureaucrat destroys one 116 00:05:23.839 --> 00:05:28.079 hundred and thirty eight jobs with regulations, and. 117 00:05:28.040 --> 00:05:30.120 So that's yeah, yeah, that was. 118 00:05:30.079 --> 00:05:32.480 An interesting study that was done by university, and I 119 00:05:32.480 --> 00:05:34.079 think it was Musas that put that out there. But 120 00:05:34.199 --> 00:05:38.480 we talk about inflation. Just a little story here. Karen 121 00:05:38.480 --> 00:05:44.040 and I watched Brigadon, and because we've never seen this version, 122 00:05:44.120 --> 00:05:47.800 I hated. I was in middle school. I was in 123 00:05:47.839 --> 00:05:49.879 the pit band that did it, so I liked the 124 00:05:49.959 --> 00:05:52.040 music and I had some fond memories of it. We 125 00:05:52.079 --> 00:05:54.759 had a little bit of time with the holiday, and 126 00:05:55.120 --> 00:05:57.879 so we watched a TV production of it that was 127 00:05:57.920 --> 00:06:00.519 done by Robert Goulay that really focused more on the 128 00:06:00.639 --> 00:06:03.360 music then on the sets and things like that. They 129 00:06:03.360 --> 00:06:05.560 didn't thing, so I thought, well, that was pretty good, 130 00:06:05.759 --> 00:06:07.519 and I thought, and at the very end of it, 131 00:06:07.519 --> 00:06:10.079 it was the whole thing was sponsored by Armstrong. Andy said, well, 132 00:06:10.120 --> 00:06:12.839 you can pick up this album for one dollar at 133 00:06:12.879 --> 00:06:16.480 the Armstrong store. And I thought, I wonder if anybody's 134 00:06:16.519 --> 00:06:18.680 got that album. And I found it on the internet 135 00:06:18.959 --> 00:06:21.240 and it only costs four dollars, and I said, I 136 00:06:21.279 --> 00:06:24.160 wonder how much that one dollar in nineteen sixty six 137 00:06:24.160 --> 00:06:26.120 would be. Well, of course, you know, they use these 138 00:06:26.160 --> 00:06:32.199 inflation calculators, use the government's calculation, so it's it's under reported. 139 00:06:32.639 --> 00:06:35.279 But it said that that one dollar album would cost 140 00:06:35.560 --> 00:06:39.120 ten dollars today, nine to ninety five. And Whistler said, well, 141 00:06:39.120 --> 00:06:40.639 look at that. Look at all the money you save 142 00:06:40.800 --> 00:06:45.519 just by waiting for sixty years. But that's the whole 143 00:06:45.560 --> 00:06:49.079 reason we get gold, isn't it Because gold appreciate some 144 00:06:49.120 --> 00:06:51.920 of those period of time because the dollar is depreciating 145 00:06:51.959 --> 00:06:53.600 against it, it's still staying the same. 146 00:06:53.639 --> 00:06:55.879 It's just that the fiacht currency is disappearing. 147 00:06:56.920 --> 00:06:59.680 That's right. I mean, gold and silver hold their value. 148 00:06:59.839 --> 00:07:02.120 They our money. And that's why you won't find the 149 00:07:02.120 --> 00:07:04.319 word investment on any of my websites. I don't call 150 00:07:04.319 --> 00:07:06.920 it that. That's not what it is. It's a representation. 151 00:07:07.040 --> 00:07:10.800 It's the storage of energy, work, and time that maintains 152 00:07:10.839 --> 00:07:13.279 its value, and it has pretty much for the last 153 00:07:13.319 --> 00:07:16.240 five thousand years. And the modern economy certainly. I mean, 154 00:07:16.279 --> 00:07:18.480 we've gone out the gold standard in nineteen seventy one, 155 00:07:18.959 --> 00:07:22.040 and that's what I track. I mean, all these numbers 156 00:07:22.040 --> 00:07:23.879 of these metrics, I don't even think they're real. I mean, 157 00:07:23.879 --> 00:07:25.639 look at the price of silver. I don't think the 158 00:07:25.639 --> 00:07:27.399 price of silver should be what it is today. I 159 00:07:27.399 --> 00:07:30.040 think it should be much higher. Just given the fact 160 00:07:30.079 --> 00:07:33.399 of the deficits and silver that are in the two 161 00:07:33.519 --> 00:07:35.680 hundred million ounces a year that were short and have 162 00:07:35.720 --> 00:07:38.600 to take from the above ground supply. The gold silver 163 00:07:38.720 --> 00:07:42.399 ratio is completely off historically, We're way off the mark 164 00:07:42.480 --> 00:07:45.439 for that. So I watch all kinds of things like that, David, 165 00:07:45.480 --> 00:07:49.519 that lead me to continue to be bullish on whatever 166 00:07:49.560 --> 00:07:53.040 that means for pricing on gold and silver. But the 167 00:07:53.079 --> 00:07:57.040 world's moving away from the dollar. That's certainly going to 168 00:07:57.439 --> 00:08:01.160 change all of our perceptions of of what the dollar 169 00:08:01.279 --> 00:08:05.399 means and what our financial situation is here in the 170 00:08:05.519 --> 00:08:09.720 United States. That's going to continue to be precarious, It's 171 00:08:09.720 --> 00:08:11.920 going to be up in the air. Because the world's 172 00:08:11.959 --> 00:08:14.319 dumping it, and it's dumping it rapidly. I mean, I 173 00:08:14.319 --> 00:08:16.199 saw a metric the other day it was like world 174 00:08:16.279 --> 00:08:21.079 usage of the dollar in foreign reserves was seventy three 175 00:08:21.199 --> 00:08:23.560 percent or so in two thousand and one, and it's 176 00:08:24.120 --> 00:08:27.680 under fifty five percent today in dwindling and of course 177 00:08:27.720 --> 00:08:30.800 the second most held reserve asset in the world after 178 00:08:30.920 --> 00:08:34.399 Basel three and a few years ago, back in twenty 179 00:08:34.440 --> 00:08:37.919 twenty one, the Bank of International Settlements made gold a 180 00:08:38.000 --> 00:08:41.159 Tier one asset on the books instead of a Tier 181 00:08:41.200 --> 00:08:44.440 three and so that's basically on par with currency. And 182 00:08:44.720 --> 00:08:47.360 it's now supplanted the Euro. So it used to be 183 00:08:47.519 --> 00:08:51.240 the dollar and then the euro and world reserve currency assets, 184 00:08:51.480 --> 00:08:54.200 and now it's the dollar and gold. And I've said 185 00:08:54.240 --> 00:08:56.879 many times already this last few months that I think 186 00:08:56.879 --> 00:08:59.480 gold's already taken the dollar is the world's reserve currency. 187 00:08:59.600 --> 00:09:01.960 Given what BRICKS is trying to do. It's not that 188 00:09:02.000 --> 00:09:04.240 Bricks is trying to create a different currency, it's just 189 00:09:04.759 --> 00:09:08.440 cross border payment systems and ways for them to trade 190 00:09:08.639 --> 00:09:10.279 based on something backed by gold. 191 00:09:10.480 --> 00:09:13.440 Yeah, yeah, absolutely. You know, you've talked about this many 192 00:09:13.440 --> 00:09:18.000 times about Gerald Ford making gold legal. Did you realize 193 00:09:18.000 --> 00:09:21.840 that it was fifty years ago on New Year's Eve, 194 00:09:22.159 --> 00:09:25.080 that was when he made that declaration. He rescinded the 195 00:09:25.159 --> 00:09:29.519 executive Order of FDR and he made gold legal for 196 00:09:29.960 --> 00:09:32.720 American citizen's holding any amount. I think I had always 197 00:09:32.759 --> 00:09:36.320 thought that it was a prohibition of Americans holding gold, 198 00:09:36.320 --> 00:09:39.159 but he prohibited them having more than one hundred dollars 199 00:09:39.200 --> 00:09:42.759 worth of gold at a time. So he got rid 200 00:09:42.759 --> 00:09:45.279 of that with his executive order, which again is another 201 00:09:45.320 --> 00:09:47.519 thing we see Trump all the time saying he can't 202 00:09:47.559 --> 00:09:49.639 do this or can't do that. And he asked the 203 00:09:49.639 --> 00:09:52.039 Supreme Court if he can get rid of the executive 204 00:09:52.120 --> 00:09:54.399 orders from the previous presence. No, no, no, you can't do that. 205 00:09:54.480 --> 00:09:57.600 But of course you can't. But that was fifty years ago. 206 00:09:57.919 --> 00:09:58.879 That didn't happened. 207 00:09:59.120 --> 00:10:02.279 I made a post of that, just sort of meditating 208 00:10:02.320 --> 00:10:05.000 on that on New Year's Eve, and I thought, you know, 209 00:10:05.200 --> 00:10:07.000 I feel like I'm in the right place at the 210 00:10:07.080 --> 00:10:09.600 right time. All the things that I study in my 211 00:10:09.639 --> 00:10:12.320 wheelhouse and things that interest me, and I realize just 212 00:10:12.519 --> 00:10:16.559 the historical significance of the time that we're in. You've 213 00:10:16.559 --> 00:10:19.279 got to remember the average lifespan of a fiat currency 214 00:10:19.360 --> 00:10:22.600 is twenty six years, so we've doubled that and now 215 00:10:22.600 --> 00:10:24.720 we're on the edge, I think the knife's edge of 216 00:10:25.639 --> 00:10:28.000 a real change when it comes to the financial system. 217 00:10:28.039 --> 00:10:31.000 And I mean I saw something of the day corporate debt, 218 00:10:31.320 --> 00:10:34.960 David it is eight trillion. Wow, corporate debt eight trillion. 219 00:10:35.120 --> 00:10:37.120 There's this, all these metrics that are showing us that 220 00:10:37.200 --> 00:10:40.240 all these things are unsustainable because you know, every time 221 00:10:40.240 --> 00:10:42.799 we get into a problem, especially in the last twenty 222 00:10:42.799 --> 00:10:45.039 and thirty years, they just decided will inflate our way 223 00:10:45.039 --> 00:10:47.480 out of this. Yeah, whether it's too big to fail 224 00:10:47.519 --> 00:10:52.080 in jail or just you know, unnecessary unconstitutional wars, you know, 225 00:10:52.159 --> 00:10:56.240 the welfare state, the entrenched deep state, whatever the programs 226 00:10:56.279 --> 00:10:58.399 and things they need to fund the two point three 227 00:10:58.440 --> 00:11:02.240 trillion dollars that Donald RUMs couldn't find on September tenth, 228 00:11:02.279 --> 00:11:04.799 two thousand and one. All these things come back to 229 00:11:05.159 --> 00:11:08.320 the fake currency. And so we're going to see I think, 230 00:11:08.399 --> 00:11:14.000 just continual bad policy from the federal government and emanating 231 00:11:14.000 --> 00:11:16.440 from all central banks around the world. That's why I'm 232 00:11:16.480 --> 00:11:19.519 looking at what money used to be. And I think 233 00:11:19.919 --> 00:11:22.519 history will I think history will treat us pretty kindly. 234 00:11:22.919 --> 00:11:25.679 Yeah, oh yeah, yeah, I look at that. I said, 235 00:11:25.759 --> 00:11:29.320 I don't know when Nixon resigned and Jerrell Ford took over, 236 00:11:29.360 --> 00:11:31.080 but that was pretty close to the beginning of it. 237 00:11:31.120 --> 00:11:34.120 I mean, you know, he got resigned in seventy three 238 00:11:34.240 --> 00:11:34.720 or something, didn't he. 239 00:11:34.879 --> 00:11:38.840 Yeah, Nixon resigned in August ninth, nineteen seventy four. 240 00:11:39.240 --> 00:11:40.159 And wow. 241 00:11:40.200 --> 00:11:43.480 Yeah, so it was that way. Yeah. Ford, I think 242 00:11:43.559 --> 00:11:46.600 pardoned Nixon right after that and with a couple of months, 243 00:11:46.639 --> 00:11:51.639 and then Jerrell Ford made gold illegal and that's right, FDR. 244 00:11:52.080 --> 00:11:54.960 It didn't necessarily make it illegal free to own gold. 245 00:11:55.000 --> 00:11:57.080 It was, like you said, one hundred dollars worth, and 246 00:11:57.120 --> 00:11:59.840 I think there was some things left over for collectibles. 247 00:12:00.159 --> 00:12:03.679 There's obviously dentists and jewelers. But he made it to 248 00:12:03.679 --> 00:12:07.720 where you couldn't use gold as your primary metric of savings. 249 00:12:07.799 --> 00:12:09.840 That's what they wanted to make sure that, you say. 250 00:12:09.840 --> 00:12:13.440 They called it anti hoarding, which is an interesting word. 251 00:12:13.840 --> 00:12:15.279 They didn't want you to be able to use it 252 00:12:15.320 --> 00:12:15.919 for your wealth. 253 00:12:16.159 --> 00:12:17.200 Yeah, yeah, wow. 254 00:12:17.519 --> 00:12:19.519 You know, it is interesting as we see the passing 255 00:12:19.600 --> 00:12:22.440 of Jimmy Carter to think about the fact that we 256 00:12:22.440 --> 00:12:26.639 look at his record that he had compared to Gerald Ford, 257 00:12:26.679 --> 00:12:29.639 who was I'm not a big Ford supporter, but I 258 00:12:29.759 --> 00:12:32.399 tell you what, compared to Jimmy Carter, it truly was amazing. 259 00:12:33.120 --> 00:12:35.440 I'm not going to see Carter do something like this. 260 00:12:35.600 --> 00:12:39.320 But you know, you mentioned the fact that you know, 261 00:12:40.360 --> 00:12:43.320 gold is not an investment, right, it is a store. 262 00:12:43.039 --> 00:12:43.960 Of value or whatever. 263 00:12:44.000 --> 00:12:48.720 But when we look at bitcoin, Aaron Day has talked 264 00:12:48.759 --> 00:12:51.159 about it, Roger Veris talked about it, the fact they 265 00:12:51.240 --> 00:12:55.039 wanted to get back to the original design of bitcoin. 266 00:12:55.840 --> 00:12:58.039 The big hope I think of all the people who 267 00:12:58.159 --> 00:13:01.759 are long term bitcoin support has been that it's going 268 00:13:01.840 --> 00:13:05.080 to be a reserve currency. Now we're hearing from people, 269 00:13:05.080 --> 00:13:08.320 but in spite of what Trump was hinting and RFK 270 00:13:08.440 --> 00:13:11.639 Junior were hinting, that's not going to happen. They said 271 00:13:11.799 --> 00:13:14.399 it might happen first in some smaller nations, but it's 272 00:13:14.440 --> 00:13:16.519 going to take a while for that to happen. What 273 00:13:16.639 --> 00:13:19.200 is your opinion about that, about whether night it'll be 274 00:13:19.600 --> 00:13:24.039 a reserve and how is that going to affect You know, 275 00:13:24.080 --> 00:13:26.879 everybody's looking at the deregulation aspect of it, but that 276 00:13:26.960 --> 00:13:29.120 was also a part of the calculation I think of 277 00:13:29.440 --> 00:13:33.000 people getting into bitcoin as well. What is your take 278 00:13:33.039 --> 00:13:34.840 on where that's going to go next year. 279 00:13:35.919 --> 00:13:38.399 Yeah, I was in Nashville listening to RFK Junior and 280 00:13:38.399 --> 00:13:42.360 then following that Trump spoke. Of course, RFK Junior much 281 00:13:42.360 --> 00:13:46.240 more specific, much more bullish, I think, much more savvy 282 00:13:46.440 --> 00:13:49.720 on how bitcoin works and what it means. And Trumps 283 00:13:49.799 --> 00:13:52.320 just was convinced. And of course was the reading off 284 00:13:52.600 --> 00:13:55.480 a script and you can tell that part when he 285 00:13:55.559 --> 00:13:59.440 came across the GDP being surpassed by from bitcoin to 286 00:13:59.519 --> 00:14:01.399 silvery know he thought it was just kind of surprise, 287 00:14:01.480 --> 00:14:05.960 well really passed the GDS the that's the market episode. 288 00:14:06.639 --> 00:14:09.679 Uh, you should read my speeches before I give the wow. 289 00:14:10.320 --> 00:14:13.320 Uh. Yeah, it was so I think that that is 290 00:14:13.440 --> 00:14:16.919 up in the air. It would set off a chain reaction. 291 00:14:17.039 --> 00:14:19.039 There's gonna be And here's here's the tell I thought 292 00:14:19.120 --> 00:14:21.200 was interesting. I'm glad you brought that up. I watched 293 00:14:21.240 --> 00:14:24.320 this is between the time I've been on again. Jerome 294 00:14:24.399 --> 00:14:30.120 Powell was asked about that. Totally dismissive. That's not in 295 00:14:30.159 --> 00:14:33.240 the purview of the our charter, the Federal Reserve. We 296 00:14:33.320 --> 00:14:35.720 have nothing to do with that. It's not something that 297 00:14:35.759 --> 00:14:37.840 we deal with that. It's not you know, outline and 298 00:14:37.879 --> 00:14:40.279 anything that we do just any and he took a 299 00:14:40.320 --> 00:14:42.320 while before he as he took a pause. I think 300 00:14:42.360 --> 00:14:44.440 it was like three or four seconds, maybe five seconds, 301 00:14:44.480 --> 00:14:47.320 just sit there and looked at the guy. So there's 302 00:14:47.399 --> 00:14:48.759 a don't get you know. 303 00:14:48.759 --> 00:14:50.759 Get for a dramatic effect, really, you know. 304 00:14:50.679 --> 00:14:52.919 The dramatic effect. And it was just like we just 305 00:14:53.000 --> 00:14:55.240 they just looked down on this and it's like it's 306 00:14:55.279 --> 00:14:58.720 a phenomenon. Uh, you know, something that's in the way. 307 00:14:58.799 --> 00:15:00.919 It's a speed bump. We we didn't really figure how 308 00:15:00.919 --> 00:15:03.960 to get rid of this thing yet. So I think 309 00:15:03.960 --> 00:15:06.399 that the powers that be, especially the central banksters, and 310 00:15:06.399 --> 00:15:09.480 don't forget who runs this country. Don't forget who runs things. 311 00:15:09.559 --> 00:15:12.080 You know, you can see the people out front, but 312 00:15:12.120 --> 00:15:14.559 they're not really in charge. It's the people behind the scenes. 313 00:15:14.600 --> 00:15:16.840 And that's the way history works, ladies and gentlemen. It's 314 00:15:16.840 --> 00:15:19.360 the way there's always power brokers behind the scenes. And 315 00:15:19.440 --> 00:15:22.960 especially in a world of central banking control and fiat currency, 316 00:15:23.000 --> 00:15:25.679 it's even worse because you can hide and cover up 317 00:15:25.759 --> 00:15:29.039 so much. There doesn't have to be, you know, fiscal 318 00:15:29.080 --> 00:15:31.559 debates anymore in this country. We don't really have that. 319 00:15:31.840 --> 00:15:35.080 We're going to be that will be the future. But 320 00:15:35.159 --> 00:15:38.720 it's not right now. So I think that the opposition 321 00:15:38.759 --> 00:15:41.840 of bitcoin coming from central banksters is going to be 322 00:15:41.960 --> 00:15:45.720 very strong. It'll filter into our politics, and you know, 323 00:15:45.720 --> 00:15:48.720 we saw that through the first Trump administration. That's why 324 00:15:48.720 --> 00:15:51.960 I didn't get excited about this one. People want me 325 00:15:52.039 --> 00:15:55.320 to have selective amnesia and forget that there was a 326 00:15:55.360 --> 00:15:58.639 twenty seventeen through twenty twenty one. I remember those years, 327 00:15:58.679 --> 00:16:02.000 and I remember the promises that were made and weren't kept, 328 00:16:02.240 --> 00:16:04.519 and I remember the fiscal House that was set on fire. 329 00:16:05.360 --> 00:16:08.799 You know again, Wilbur Ross. Everybody remember WILBURH. Ross and 330 00:16:08.879 --> 00:16:12.000 who he was, and you know it was he Commerce 331 00:16:12.039 --> 00:16:15.360 Secretaries of who he was, David, I mean he came in, yeah, 332 00:16:15.399 --> 00:16:17.720 and he was a Ross Child's agent. He's what Bill 333 00:16:17.759 --> 00:16:18.919 Trump out in the nineties. 334 00:16:19.200 --> 00:16:21.159 And now we got Lucky Lutnick is going to be 335 00:16:21.200 --> 00:16:25.200 the Commerce secretary who is all about tokenization and securitization, 336 00:16:25.480 --> 00:16:26.960 right right. 337 00:16:27.440 --> 00:16:31.240 Yeah, there will be some crypto moves in the Trump administration, 338 00:16:31.279 --> 00:16:33.759 and I've said that, I think though, but we're starting 339 00:16:33.799 --> 00:16:36.519 to see, especially with the H one, b VSA's and 340 00:16:36.559 --> 00:16:39.159 all this stuff, they're going to walk back a lot 341 00:16:39.240 --> 00:16:41.200 of the America first stuff, they're going to walk back 342 00:16:41.240 --> 00:16:43.200 a lot of the promises made. That's the way that 343 00:16:43.279 --> 00:16:46.120 politics work. You know, what is it the h O 344 00:16:46.240 --> 00:16:49.320 mankins it's an advanced auction on stolen goods or something 345 00:16:49.360 --> 00:16:52.039 like that. What an election is so now, but I 346 00:16:52.080 --> 00:16:55.000 think in the long term bitcoin has its place. It's 347 00:16:55.039 --> 00:17:00.159 probably far too far too long out of it. It's 348 00:17:00.240 --> 00:17:03.440 inception to put it back. I mean, it can't go anywhere. 349 00:17:03.639 --> 00:17:05.960 There will be smaller nation states that do something, but 350 00:17:06.000 --> 00:17:08.000 the United States still may put it on some sort 351 00:17:08.039 --> 00:17:09.839 of balance sheet or anything. But there's there's a lot 352 00:17:09.880 --> 00:17:13.160 of momentum in Congress and for that, and there's a 353 00:17:13.160 --> 00:17:16.279 political i think political will to do something with bitcoin. 354 00:17:16.359 --> 00:17:18.480 So we'll see. I just try to keep that out 355 00:17:18.480 --> 00:17:22.039 of my focus for what I think bitcoin is, and 356 00:17:22.119 --> 00:17:24.039 I think, you know, it's whether it's a you know, 357 00:17:24.119 --> 00:17:26.359 I said last year at the beginning of the year, 358 00:17:26.680 --> 00:17:29.440 hey really watch bitcoin because you know it was picked 359 00:17:29.480 --> 00:17:32.839 up by the ETFs, you know, Larry Fink, Blackrock, we're 360 00:17:32.839 --> 00:17:34.799 pushing and I thought, well, that's a huge departure you 361 00:17:34.839 --> 00:17:37.960 guys paying attention. I think bitcoin was like twenty nine thousand, 362 00:17:38.519 --> 00:17:40.559 and I was saying, this is and I started buying 363 00:17:40.599 --> 00:17:44.240 it on a daily for my company's reserves. So you know, 364 00:17:44.279 --> 00:17:46.880 that was a good decision because here we are, you know, 365 00:17:47.640 --> 00:17:50.119 a year later, and it's already surpassed at one time 366 00:17:50.160 --> 00:17:52.519 one hundred and eight thousand. It's down to ninety eight 367 00:17:52.519 --> 00:17:55.839 thousand when I checked Spot before the broadcast. So I 368 00:17:55.880 --> 00:17:57.880 think that'll be a trend that continues. But it's not 369 00:17:57.920 --> 00:18:00.759 going to I don't think we're unless something huge happens. 370 00:18:00.799 --> 00:18:02.680 It's not going to go parabolic, like we're going to 371 00:18:02.720 --> 00:18:05.480 see half a million dollar bitcoin in the next you know, 372 00:18:06.000 --> 00:18:07.119 eight months or something. 373 00:18:07.440 --> 00:18:09.440 I think they will continue to pump though, you know, 374 00:18:09.480 --> 00:18:11.319 before they do the dump, just make sure that you're 375 00:18:11.319 --> 00:18:14.160 not their exit strategy, you know, when this stuff happens. 376 00:18:14.240 --> 00:18:15.799 But I think they're going to continue to pump it 377 00:18:16.279 --> 00:18:19.559 because on the other side of this stuff, you've got 378 00:18:19.680 --> 00:18:23.519 Lutnick and you know, tether and stable coins and securitization 379 00:18:23.599 --> 00:18:26.480 and tokenization all these other things. That's really what they're working. 380 00:18:26.480 --> 00:18:29.640 On the side. They got everybody looking at bitcoin, and 381 00:18:29.680 --> 00:18:32.839 they're using bitcoin, I think to get people excited about 382 00:18:32.920 --> 00:18:35.839 digital money and about the blockchain and stuff like that. 383 00:18:35.880 --> 00:18:39.759 While they do something very nefarious on the side with 384 00:18:39.880 --> 00:18:42.000 this stuff and kind of come in as a de 385 00:18:42.079 --> 00:18:46.480 facto CBDC. Now the Bank of International Settlements is talking 386 00:18:46.640 --> 00:18:50.480 about the fact they're going to continue on with their CBDC. 387 00:18:51.039 --> 00:18:52.240 But I think that the way that it's going to 388 00:18:52.359 --> 00:18:54.759 roll out in the US UK, the Five Eyes that 389 00:18:54.799 --> 00:18:57.599 already said, you know, a couple of months ago, they said, well, 390 00:18:57.599 --> 00:19:00.680 we're not going to do anything called CBDC, but they 391 00:19:00.720 --> 00:19:03.880 will do the functions of CBDC, I think, and I 392 00:19:03.920 --> 00:19:06.759 think part of what is happening with a bitcoin and 393 00:19:07.319 --> 00:19:10.839 the the regulation around crypto currency is to pave the 394 00:19:10.839 --> 00:19:15.799 way for that that de facto CBDC that's going to 395 00:19:15.799 --> 00:19:18.000 be like a public private partnership, and people like Larry 396 00:19:18.039 --> 00:19:20.599 Lutnik are going to make a lot of money off 397 00:19:20.599 --> 00:19:23.759 of this, and many people and the Trump administration are 398 00:19:23.799 --> 00:19:25.599 connected to that. That's That's what I'm looking at. So 399 00:19:25.599 --> 00:19:28.759 I'm still looking at gold as a hedge against that 400 00:19:28.799 --> 00:19:29.480 type of stuff. 401 00:19:30.559 --> 00:19:33.359