WEBVTT 1 00:00:07.719 --> 00:00:10.320 Joining us now is Tony Ardaben of Wisewolf Gold, And 2 00:00:10.359 --> 00:00:13.119 we've got so much to talk about. And again he's 3 00:00:13.119 --> 00:00:15.080 set up, David and I die gold. I'll take you 4 00:00:15.119 --> 00:00:17.480 to Tony's wise Wolf and let him know that you 5 00:00:17.519 --> 00:00:20.440 came through us. And as we look at gold going 6 00:00:20.519 --> 00:00:23.039 up record prices, as Tony has always said, you know 7 00:00:23.120 --> 00:00:26.239 when it starts shooting up when everybody gets interested in 8 00:00:26.280 --> 00:00:28.440 buying it, and so it's kind of a feedback live 9 00:00:28.600 --> 00:00:31.000 there's some other fundamental things that are driving it as well. 10 00:00:31.079 --> 00:00:32.920 Thank you for joining us, Tony. It certainly has been 11 00:00:32.920 --> 00:00:33.960 an amazing week, hasn't it. 12 00:00:34.920 --> 00:00:37.600 Well? We keep saying that, yeah, every week for again, 13 00:00:37.679 --> 00:00:38.320 every time I come. 14 00:00:38.280 --> 00:00:41.079 Up, there's another record high, David, in the monetary system's 15 00:00:41.119 --> 00:00:44.320 melting down. Well, what's going to happen next week? Uh, 16 00:00:44.600 --> 00:00:48.159 stay tuned, folks. Look we'll get the gold silver ratio 17 00:00:48.280 --> 00:00:51.920 now is one hundred and two. It's one hundred and 18 00:00:51.960 --> 00:00:54.240 two ounces of silver to make one ounce of gold. 19 00:00:54.320 --> 00:00:56.039 Isn't that absolutely insane? 20 00:00:56.920 --> 00:00:59.799 That is that is history. 21 00:01:00.000 --> 00:01:03.039 It has is at ten to twenty at most ten 22 00:01:03.119 --> 00:01:06.280 to twenty ounces of silver to make one ounce of gold. 23 00:01:06.319 --> 00:01:09.599 That changed around nineteen thirty three, but it's never, I 24 00:01:09.599 --> 00:01:11.799 mean never been like this on a consistent base. It's 25 00:01:11.840 --> 00:01:14.120 one hundred and two ounces of silver to make one 26 00:01:14.159 --> 00:01:17.920 ounce of gold. That's a price disparity in and of itself. 27 00:01:17.959 --> 00:01:21.439 But as I was telling you off air, there's something 28 00:01:21.519 --> 00:01:24.480 really wrong with the price of gold itself based off 29 00:01:24.519 --> 00:01:26.760 of the dollar. I mean, in nineteen seventy one is 30 00:01:26.799 --> 00:01:31.400 thirty five dollars an ounce, so it's almost one hundred times. 31 00:01:32.439 --> 00:01:34.879 It's almost one hundred times what it was in. 32 00:01:34.840 --> 00:01:39.120 August fifteenth, nineteen seventy one. And gold really hasn't gone 33 00:01:39.200 --> 00:01:41.359 up in value, and of course it increases about two 34 00:01:41.439 --> 00:01:44.879 or three percent a year in supply, so it's kept 35 00:01:44.959 --> 00:01:47.799 up with inflation and other things. But that's the price 36 00:01:47.799 --> 00:01:50.599 of gold versus the purchasing power of the dollar, and 37 00:01:51.000 --> 00:01:53.560 almost one hundred times, David, absolutely amazing. 38 00:01:53.719 --> 00:01:56.280 That truly is amazing. Yeah, And of course we had 39 00:01:56.319 --> 00:01:59.719 a lot of things happening with pronouncements by Powell, things 40 00:01:59.760 --> 00:02:03.159 have with the stock market, stuff happening with tariffs, this 41 00:02:03.319 --> 00:02:07.760 war between China and the US, of trade war is 42 00:02:07.879 --> 00:02:12.439 driving people to away from the dollar, away from treasury bills, 43 00:02:12.479 --> 00:02:14.560 and even more so into gold as you and I 44 00:02:14.599 --> 00:02:16.240 have been talking about for the last couple of years. 45 00:02:17.319 --> 00:02:20.400 You know, China's central bank and others saw this coming, 46 00:02:20.879 --> 00:02:24.080 especially saw it with the tariffs, and they started moving 47 00:02:24.120 --> 00:02:27.159 away from the dollar towards a gold They're seeing the 48 00:02:27.199 --> 00:02:30.919 resetting of the financial system, and now this, I don't know. 49 00:02:31.360 --> 00:02:34.479 I don't see anything fundamentally changing with US. I think 50 00:02:34.560 --> 00:02:37.120 this is going to get really crazy, and I think 51 00:02:37.159 --> 00:02:40.560 this is part of the financial meltdown. I think Trump 52 00:02:40.599 --> 00:02:41.000 wants that. 53 00:02:42.280 --> 00:02:42.840 I do too. 54 00:02:43.800 --> 00:02:47.159 What else would explain this sort of chaos? Markets love certainty. 55 00:02:47.639 --> 00:02:51.240 You I mean, you're you're not making it advantageous for 56 00:02:51.319 --> 00:02:54.960 companies to move here, build here, invest here. We haven't restructured, 57 00:02:55.039 --> 00:02:57.759 not working on our internal tax system, work on external 58 00:02:57.800 --> 00:03:00.680 tax system at the same time, So we haven't lower taxes, 59 00:03:00.719 --> 00:03:03.800 we're actually raising taxes. You know how I feel about tariffs. 60 00:03:03.840 --> 00:03:06.520 I like tariffs. I think that there's sound. I think 61 00:03:06.560 --> 00:03:09.400 they can create an environment of freedom and liberty. The 62 00:03:09.400 --> 00:03:10.960 problem is, if you ad them on top of the 63 00:03:10.960 --> 00:03:13.520 income tax, you just get a new tax. Yeah, so 64 00:03:13.560 --> 00:03:17.439 we're It doesn't make any sense on his face, and 65 00:03:17.479 --> 00:03:19.159 I think that's why this has nothing to do with 66 00:03:19.199 --> 00:03:22.719 economic nationalism. Has everything to do with the controlled demolition 67 00:03:23.120 --> 00:03:27.439 of the American economy, the American dollar. It's the rhetoric 68 00:03:27.520 --> 00:03:32.159 back and forth between Trump and Powell. Trump to put 69 00:03:32.240 --> 00:03:35.639 out on his truth social that he's looking forward to 70 00:03:35.680 --> 00:03:36.719 Pal's termination. 71 00:03:37.840 --> 00:03:39.840 Termination can't come fast enough. 72 00:03:39.680 --> 00:03:43.599 Is what he said, based off Palell's remarks on tariffs 73 00:03:43.639 --> 00:03:46.840 and everything else. And he says he's always late. He 74 00:03:46.879 --> 00:03:49.080 wants Powell to act. And this is part of the 75 00:03:49.120 --> 00:03:53.319 weaker dollar strategy. If you really listen to what Trump says. 76 00:03:53.360 --> 00:03:57.400 He's trying to get the FED to inject massive amounts 77 00:03:57.560 --> 00:04:00.919 of liquidity into the market's QE. And of course Powell, 78 00:04:00.960 --> 00:04:04.719 as we've covered for the last couple of years, has 79 00:04:04.800 --> 00:04:07.879 raised interest rates faster than any other FED chairman in history, 80 00:04:07.879 --> 00:04:10.639 trying to curt tail inflation so that it goes against 81 00:04:10.719 --> 00:04:13.120 the policy. I mean, if you want to call the 82 00:04:13.120 --> 00:04:17.639 Fed hawkish, it reverses all of the Fed's policy over 83 00:04:17.680 --> 00:04:19.920 the past two or three years. And that would be 84 00:04:19.959 --> 00:04:24.120 absolutely devastating, a final blow for the dollar, if you will, 85 00:04:24.720 --> 00:04:28.800 and it might lend a I think a temporary boon 86 00:04:28.879 --> 00:04:31.680 to the economy. I think we would see, you know, 87 00:04:31.800 --> 00:04:36.160 stock prices would sore there'd be a temporary high, but 88 00:04:36.319 --> 00:04:39.120 ultimately that sort of injection right now, when we're at 89 00:04:39.120 --> 00:04:41.720 one hundred and twenty five percent of debt to GDP 90 00:04:42.040 --> 00:04:44.720 David I, that would be the final blow. I mean, 91 00:04:44.720 --> 00:04:47.199 I think after that we'd be looking at the fallout 92 00:04:47.240 --> 00:04:49.959 from that because you could no longer really do anything 93 00:04:50.000 --> 00:04:52.879 by injecting liquidity. That's like the last run, It's just 94 00:04:52.920 --> 00:04:56.639 based off mathematics. And I think that's what Trump wants. 95 00:04:56.680 --> 00:05:00.319 I think he wants a giant liquidity injection. You can 96 00:05:00.319 --> 00:05:02.680 put a hang up question mark over that. You know, 97 00:05:03.240 --> 00:05:04.240 he likes injections. 98 00:05:04.360 --> 00:05:09.879 He likes injections, COVID injections, maybe even you know, heroin injections, 99 00:05:09.920 --> 00:05:11.680 because that's what this is like. This is like a 100 00:05:11.759 --> 00:05:14.839 junkie looking for a fix, and you know, he can't 101 00:05:14.839 --> 00:05:17.160 get high anymore, and he's going to have to use 102 00:05:17.199 --> 00:05:20.360 more and more and eventually he's gonna ode and we're 103 00:05:20.360 --> 00:05:23.759 going to have an economic overdose of quantitative easy. It's 104 00:05:23.800 --> 00:05:26.759 going to kill the economy, kill the government. And you 105 00:05:26.800 --> 00:05:29.000 know this is this is the guy who bankrupted casinos. 106 00:05:29.040 --> 00:05:29.079 No. 107 00:05:29.279 --> 00:05:31.560 One of the things that he really I guess really 108 00:05:31.560 --> 00:05:34.720 got him angry was what Powell said in his remarks 109 00:05:34.920 --> 00:05:38.600 yesterday to the Economic Club of Chicago, just read these 110 00:05:38.600 --> 00:05:41.560 two here. We may find ourselves in a challenging scenario 111 00:05:41.560 --> 00:05:45.600 in which our dual mandate goals are intention intention. If 112 00:05:45.639 --> 00:05:48.319 that were to occur, we would consider how far the 113 00:05:48.319 --> 00:05:51.399 economy is from each of these goals, and the potentially 114 00:05:51.439 --> 00:05:54.079 different time horizons are which those respective gaps would be 115 00:05:54.079 --> 00:05:56.839 anticipated close. But then what really got it is I 116 00:05:56.879 --> 00:05:59.319 think he said terrorists are likely to move us further 117 00:05:59.360 --> 00:06:03.160 away from our goals, probably for the balance of this year. 118 00:06:03.879 --> 00:06:06.120 And he said for the time being, we're well positioned 119 00:06:06.160 --> 00:06:10.360 to just wait for greater greater clarity before considering an 120 00:06:10.399 --> 00:06:12.720 adjustment to our policy stance. So what he's saying is, 121 00:06:13.399 --> 00:06:16.600 like all the businesses out there and CEOs and everybody's like, well, 122 00:06:16.680 --> 00:06:18.120 we don't know what Trump's going to do in another 123 00:06:18.120 --> 00:06:19.639 twelve hours, so let's just wait and see. 124 00:06:19.720 --> 00:06:19.879 Right. 125 00:06:20.079 --> 00:06:22.279 It's this uncertainty, you know, That's the other thing that 126 00:06:22.279 --> 00:06:26.319 has jumped into this tony besides you know, the inflation 127 00:06:26.480 --> 00:06:29.680 and the spending and adding taxes and everything. It's the 128 00:06:29.759 --> 00:06:33.079 uncertainty about everything, and that's freezing everybody. And even now 129 00:06:33.160 --> 00:06:36.240 Powell echoes it and says, well, we're gonna just wait 130 00:06:36.279 --> 00:06:38.720 and see what he's gonna do, wait and see what 131 00:06:38.879 --> 00:06:42.120 the stuff shakes out before we make any policy commitments. 132 00:06:42.160 --> 00:06:44.639 And everybody is doing that with their businesses across the board, 133 00:06:44.639 --> 00:06:45.480 across the world. 134 00:06:47.480 --> 00:06:51.000 Well, absolutely, I mean the uncertainty is what is causing 135 00:06:51.040 --> 00:06:53.319 all of the market chaos and the whip sawing and 136 00:06:53.360 --> 00:06:54.199 the back and forth. 137 00:06:55.480 --> 00:06:57.000 I noticed something. There's a metric. 138 00:06:57.079 --> 00:06:59.680 You know, the Chinese used to be the largest holder 139 00:06:59.839 --> 00:07:01.040 of US treasuries. 140 00:07:01.519 --> 00:07:02.839 Now that's the greatest seller. 141 00:07:04.079 --> 00:07:07.000 This is the upside down and this is the changes 142 00:07:07.040 --> 00:07:10.199 that are on the horizon are absolutely massive. You look 143 00:07:10.240 --> 00:07:14.639 at dedollarization continuing the trend. If we if he gets 144 00:07:14.680 --> 00:07:16.759 his wish, I think this is what I think we're 145 00:07:16.800 --> 00:07:18.639 trying to suss out here is what is the goal? 146 00:07:18.759 --> 00:07:23.199 Because you know, Powell, he's not wrong about about the tariffs. 147 00:07:23.199 --> 00:07:26.000 Because we're placing tariffs on on a top of a 148 00:07:26.079 --> 00:07:30.959 system that wasn't designed for economic nationalism. It doesn't look 149 00:07:31.079 --> 00:07:34.279 like policy, and that you know, policy would would be 150 00:07:34.800 --> 00:07:38.839 a reformation of our current economic system, how we tax, 151 00:07:39.399 --> 00:07:42.680 what incentives we give to corporations and to individuals and 152 00:07:42.680 --> 00:07:44.560 to investors to build things here. 153 00:07:44.839 --> 00:07:47.920 We didn't do that. We just we just put something. 154 00:07:47.959 --> 00:07:52.040 We put a relic on top of a system that from. 155 00:07:51.920 --> 00:07:52.600 A bygone era. 156 00:07:52.680 --> 00:07:54.439 We put a relic on there, on top of a 157 00:07:54.480 --> 00:08:00.240 new system that is designed for cheap liquidity. It's designed 158 00:08:00.279 --> 00:08:03.600 for debt, it's designed for fiat currency, it's designed for 159 00:08:04.560 --> 00:08:08.839 you know, again, the currency creation in order to survive that. 160 00:08:09.000 --> 00:08:11.120 You know, the stock market in nineteen seventy one, go 161 00:08:11.160 --> 00:08:13.480 back to Nixon's arrow and go off the gold standard. 162 00:08:13.519 --> 00:08:17.399 This is a completely different economy, different everything you know 163 00:08:17.439 --> 00:08:19.399 it used to and you know this, I mean it 164 00:08:19.439 --> 00:08:21.800 was the stock market was based off of earnings and 165 00:08:22.160 --> 00:08:24.519 you know, profit and loss statements, you know, the Warren 166 00:08:24.519 --> 00:08:25.199 Buffett's era. 167 00:08:26.199 --> 00:08:28.360 That is no longer that way. It's about your it's 168 00:08:28.399 --> 00:08:29.079 about ESG. 169 00:08:29.399 --> 00:08:33.840 It's about your ties to central banking and venture capital, 170 00:08:33.840 --> 00:08:37.679 which all that just circles around itself. This has nothing 171 00:08:37.720 --> 00:08:40.320 to do with with old metrics and building things and 172 00:08:40.720 --> 00:08:43.360 manufacturing and all that stuff. So yeah, putting the tariffs 173 00:08:43.399 --> 00:08:46.519 on there like that, it doesn't make any sense and 174 00:08:46.559 --> 00:08:50.519 it will be inflationary. But again because we didn't, cause 175 00:08:50.600 --> 00:08:53.440 we didn't, there's no there's no carrot. It's just stick. 176 00:08:53.919 --> 00:08:56.039 And that's to tell this is not about that. 177 00:08:56.120 --> 00:09:00.360 It's about forcing Powell or forcing a new chair of 178 00:09:00.399 --> 00:09:02.960 the Fed, which is I'm surprised to even stayed on 179 00:09:02.960 --> 00:09:03.279 in the fire. 180 00:09:03.279 --> 00:09:05.159 I was always surprised he stayed on. I thought, this 181 00:09:05.200 --> 00:09:07.759 is very good. You know, exit stage right there, Jerome, 182 00:09:07.799 --> 00:09:09.559 you should probably exit because this is going to be 183 00:09:09.799 --> 00:09:13.039 a bumpy ride. He didn't do that, so you. 184 00:09:13.039 --> 00:09:16.120 Know that's on him. But something, something, is going to happen. 185 00:09:16.600 --> 00:09:19.720 I can't imagine they've gone all this way to become 186 00:09:19.759 --> 00:09:24.039 fiscally responsible. I had a high school student, the daughter 187 00:09:24.039 --> 00:09:26.399 of a lady that works for me in Branson. She 188 00:09:26.679 --> 00:09:28.799 texted me earlier this week and said, can you tell 189 00:09:28.840 --> 00:09:31.919 me how the US could balance the budget? And so 190 00:09:32.000 --> 00:09:34.559 I sent her back an audio message and I said, well, 191 00:09:34.559 --> 00:09:36.919 they'd have to pass a balanced budget amendment. They'd have 192 00:09:36.960 --> 00:09:39.559 to cut spending, they have to spend less than they 193 00:09:39.559 --> 00:09:41.759 took in. This would have to be a complete reformation 194 00:09:41.840 --> 00:09:43.720 of the financial system, and I said, they'd have to 195 00:09:44.159 --> 00:09:47.240 We'd have to repeg the currency to something stable so 196 00:09:47.279 --> 00:09:49.960 we wouldn't constantly lose purchasing power. There's a few steps, 197 00:09:50.000 --> 00:09:51.679 you know, there's you'd have to have. 198 00:09:51.759 --> 00:09:53.480 I would have sent her back a three word reply. 199 00:09:53.720 --> 00:09:55.039 I'd say, follow the constitution. 200 00:09:55.919 --> 00:09:56.799 Well, that's right. 201 00:09:57.600 --> 00:09:59.960 That would be the big cuts to the welfare warfare state. 202 00:10:00.240 --> 00:10:03.799 That'd eliminate for real, all this stuff that those just 203 00:10:03.799 --> 00:10:06.919 playing around with, the different on the fringes. You know, 204 00:10:06.919 --> 00:10:10.559 it's just completely gone. That's what it's going to require. 205 00:10:12.320 --> 00:10:14.720 Absolutely, And I said, you know, we'd have to we'd 206 00:10:14.720 --> 00:10:17.000 have to end. I called it the welfare warfare states. 207 00:10:17.000 --> 00:10:18.559 There's bare three things to me. 208 00:10:18.639 --> 00:10:21.679 If all the constitution, that's even of course that's what 209 00:10:21.759 --> 00:10:22.759 David and I would say. 210 00:10:23.120 --> 00:10:25.480 I had to make it convoluted. But that's what I 211 00:10:25.519 --> 00:10:28.559 looked at. I said, we don't talk about that anymore. Yeah, 212 00:10:28.639 --> 00:10:30.840 we don't talk That is not on the table. So 213 00:10:31.080 --> 00:10:33.320 you know, I think that that is the tell if 214 00:10:33.320 --> 00:10:36.360 you want to read the room, this is not the 215 00:10:36.960 --> 00:10:39.480 spirit of the age, the zeitgeist, if you will, that 216 00:10:39.559 --> 00:10:41.639 they're not throwing that out saying we need to become 217 00:10:41.679 --> 00:10:42.799 fiscally responsible. 218 00:10:42.960 --> 00:10:45.879 Nobody talks about that. This is all about strategy and 219 00:10:45.919 --> 00:10:47.159 who gets left holding what. 220 00:10:48.840 --> 00:10:51.919 Yeah, you know, this is the Machiavellian monetary theories. 221 00:10:52.679 --> 00:10:54.960 Oh I like that. 222 00:10:54.240 --> 00:10:59.360 Another MMT right, I'm going to use this politically for something. 223 00:10:59.639 --> 00:11:02.639 You know, it was interesting you mentioned it's all stick 224 00:11:02.679 --> 00:11:04.879 and no carrot, and that was the same thing that 225 00:11:04.919 --> 00:11:08.960 a commentator on RT on Russia today said as well, 226 00:11:09.159 --> 00:11:12.320 in terms of talking about the two big issues here, 227 00:11:12.440 --> 00:11:14.960 How is the EU going to respond to Trump's tariffs 228 00:11:15.000 --> 00:11:16.960 and things like that? How is China going to respond? 229 00:11:17.440 --> 00:11:20.200 They said, well, you know, for the EU, because of 230 00:11:20.960 --> 00:11:24.639 you know, the dominance of the US in so many 231 00:11:24.639 --> 00:11:27.360 different ways with them, they will probably grudgingly go along. 232 00:11:27.440 --> 00:11:29.480 But it's all stick and no carrot. They don't get 233 00:11:29.480 --> 00:11:32.000 anything out of it. He hasn't given them anything to 234 00:11:32.080 --> 00:11:34.000 go that way, but he's got a big enough stick 235 00:11:34.039 --> 00:11:35.519 that he could beat him with that. Maybe they'll go 236 00:11:35.600 --> 00:11:38.639 that way. You know, it's over China. You know, he's 237 00:11:38.679 --> 00:11:40.559 talking about it. And this is the key thing when 238 00:11:40.559 --> 00:11:44.519 we start talking about devaluation and things like that. China 239 00:11:44.600 --> 00:11:47.759 devaluated there you want, And so what's Trump going to do? 240 00:11:47.840 --> 00:11:49.159 Is he going to respond with that? Is he going 241 00:11:49.200 --> 00:11:52.279 to devaluate the dollar? You know, that's that's part of 242 00:11:52.279 --> 00:11:55.480 what they've always done with the China price is currency manipulation, 243 00:11:56.240 --> 00:11:58.879 and so you know, how does he respond to that? 244 00:11:58.960 --> 00:12:01.159 You know, everybody says, well, Trump's holding all the cards 245 00:12:01.240 --> 00:12:03.480 because we buy more from them they buy from us. Well, 246 00:12:03.519 --> 00:12:06.159 not at all. I mean, besides the rare earth minerals 247 00:12:06.159 --> 00:12:08.919 that they've just stopped that they've got like ninety percent 248 00:12:08.960 --> 00:12:11.960 of the processing on globally, so they just stop that 249 00:12:12.279 --> 00:12:15.879 they can devalue their currency. They've also matched him on 250 00:12:16.159 --> 00:12:18.440 tar frates, so as he goes up, they go up, 251 00:12:18.440 --> 00:12:20.759 and they keep going up. But he doesn't have any 252 00:12:20.799 --> 00:12:25.960 cards to play when it comes to devaluation because that's 253 00:12:26.000 --> 00:12:30.919 going to work against dollars, certainly work for the advantage 254 00:12:30.919 --> 00:12:32.559 of gold, and when it comes to minerals and other 255 00:12:32.600 --> 00:12:35.519 things like that, it seems to me like he doesn't 256 00:12:35.519 --> 00:12:37.519 have the cards. He's got the big stick with Europe, 257 00:12:37.519 --> 00:12:39.720 but he doesn't seem to have the cards in the 258 00:12:39.919 --> 00:12:42.279 trade war with China. And I think that that's going 259 00:12:42.320 --> 00:12:44.320 to continue to go on. And I think it's this 260 00:12:44.639 --> 00:12:48.440 instability that is there, this uncertainty that he's created that 261 00:12:48.519 --> 00:12:50.159 is driving gold the most, don't you. 262 00:12:51.399 --> 00:12:53.639 Well, that's what the Chinese are buying gold or dumping 263 00:12:53.679 --> 00:12:57.039 treasuries to buy it. The world's buying gold, and I 264 00:12:57.039 --> 00:13:00.799 think this has been happening really accelerated rates since twenty 265 00:13:00.879 --> 00:13:03.639 twenty two. You look at when we put the sanctions 266 00:13:03.639 --> 00:13:07.679 on Russia and then the rubles fell and then bounced back, 267 00:13:08.159 --> 00:13:10.200 and then they stopped using dollars and went and did 268 00:13:10.279 --> 00:13:14.200 direct trade deals with places like India and China for petroleum, 269 00:13:14.240 --> 00:13:17.919 for gold, and vice versa. I think what we're on 270 00:13:17.960 --> 00:13:22.720 the CUSS is a world that's moving away from the dollar. 271 00:13:23.399 --> 00:13:25.440 I've said for a while, I think gold is already 272 00:13:25.519 --> 00:13:29.720 the world's reserve currency, it's just not in name. And 273 00:13:29.799 --> 00:13:33.720 that's what bricks is working on in cross border payment systems. 274 00:13:33.919 --> 00:13:38.279 You know, if this was twenty years ago, you could 275 00:13:38.279 --> 00:13:41.759 probably take on the Chinese no problem. But we've given 276 00:13:41.799 --> 00:13:44.679 them so much. We gave them the infrastructure, we gave 277 00:13:44.679 --> 00:13:46.960 them the trade, we gave them the technology. 278 00:13:47.360 --> 00:13:49.399 Cheap energy, well, we gave them cheap energy. 279 00:13:49.440 --> 00:13:50.759 You know that's what we keep energy. 280 00:13:50.799 --> 00:13:54.080 Yeah, you think you're going to manufacture sorry. 281 00:13:53.879 --> 00:13:57.480 Opened everything for them, you know you have to. 282 00:13:57.840 --> 00:14:00.240 We built them up so we could do something like 283 00:14:00.279 --> 00:14:02.279 this because we can blame the other. I think this 284 00:14:02.320 --> 00:14:06.840 is another part of the great reset for the technocracy. 285 00:14:06.840 --> 00:14:09.600 All the things they've been building up China since the 286 00:14:09.639 --> 00:14:13.519 Trilateralists formed in nineteen seventy three with Zignu Brazinski. It's 287 00:14:13.519 --> 00:14:17.440 moving the technology eastward and building up their infrastructure. And 288 00:14:17.519 --> 00:14:19.919 of course we open China in seventy two. Everything following 289 00:14:19.919 --> 00:14:22.840 the timeline. David last trade surplus the United States ran 290 00:14:22.960 --> 00:14:25.919 was in nineteen seventy four. This all makes sense if 291 00:14:25.960 --> 00:14:28.600 you look at it in reverse. And now we get here. 292 00:14:29.080 --> 00:14:31.120 It's hard to see exactly what the next move is, 293 00:14:31.159 --> 00:14:34.759 but it's not good. I think it's just using this 294 00:14:34.879 --> 00:14:37.559 as a buffer, you know, using them as the other's 295 00:14:37.559 --> 00:14:40.559 setting up the boogeyman. Because the damage that we've done 296 00:14:41.000 --> 00:14:45.399 to ourselves with our own policies with globalization and you know, 297 00:14:45.440 --> 00:14:48.279 with you know, the empire, the American Empire, has been 298 00:14:48.320 --> 00:14:51.639 absolutely disastrous. And this is not This can't last forever. 299 00:14:52.320 --> 00:14:55.279 That's what we're up against. Is the timeline is the 300 00:14:55.320 --> 00:14:59.559 window for us fixing our currency and our system is 301 00:14:59.759 --> 00:15:00.759 rapididly closing. 302 00:15:00.960 --> 00:15:03.240 And it's not going to be great. It's not going 303 00:15:03.279 --> 00:15:05.399 to be it's not gonna be sunshining rainbows on the 304 00:15:05.440 --> 00:15:09.919 other side. I hate doing this because it sounds so pessimistic. 305 00:15:09.240 --> 00:15:12.480 I know, but you just I mean, look again, the 306 00:15:12.639 --> 00:15:16.440 dollar was thirty five dollars an ounce for gold in 307 00:15:16.519 --> 00:15:21.440 nineteen seventy one, and now it's almost one hundred times almost. 308 00:15:21.519 --> 00:15:22.320 I mean right there. 309 00:15:22.399 --> 00:15:25.159 I didn't think this is something I've been studying for 310 00:15:25.279 --> 00:15:26.960 years and years, and I gotta say this all the time. 311 00:15:27.000 --> 00:15:29.000 But it's moving faster than I thought it would. 312 00:15:29.120 --> 00:15:31.399 Yeah, we're really oh yeah, we're really in a different 313 00:15:31.440 --> 00:15:32.039 timeline now. 314 00:15:32.200 --> 00:15:33.720 Yeah, Peter Schiff has said, this is what I've been 315 00:15:33.720 --> 00:15:36.600 talking about as long as that is here is there, 316 00:15:36.639 --> 00:15:40.159 you know, you know, and all of the gold bugs 317 00:15:40.200 --> 00:15:42.519 I've all been saying that. But that's the case, as 318 00:15:42.559 --> 00:15:45.159 you point out, you know that ratio to silver, everything 319 00:15:45.240 --> 00:15:48.240 has flowed into gold, right It's not into bitcoin, it's 320 00:15:48.279 --> 00:15:50.679 not into silver, it's not any of these other alternatives 321 00:15:50.720 --> 00:15:53.919 to these fiat currencies. It's all going into gold right now. 322 00:15:54.360 --> 00:15:57.080 And so it's acting like a big hose that's there, 323 00:15:57.639 --> 00:15:59.639 you know. And that's one of the other things bitcoin. 324 00:16:00.120 --> 00:16:02.200 One person said, well, we're poised for a twenty twenty 325 00:16:02.240 --> 00:16:07.480 three style rebound, as Goldman says, the dollar is overvalued 326 00:16:08.240 --> 00:16:11.919 now that's coming from coin desk, and they're going to 327 00:16:11.919 --> 00:16:14.159 look at it. Oh, well, the dollar's overvalued, so we 328 00:16:14.200 --> 00:16:16.480 can have rebound with bitcoin. Well, not necessarily. You know, 329 00:16:16.519 --> 00:16:18.759 it's just like the silver thing that is it going 330 00:16:18.799 --> 00:16:20.720 to be gold that everybody's going to run into. And 331 00:16:21.080 --> 00:16:23.799 that's what we've been seeing is that that's where the 332 00:16:24.759 --> 00:16:26.879 foreign banks are going, the central banks are going, and 333 00:16:27.120 --> 00:16:29.399 a lot of individuals are going into gold because they 334 00:16:29.480 --> 00:16:33.480 see that as the you know, the an island of 335 00:16:33.799 --> 00:16:39.000 stability and this chaotic situation that Trump is manufactured. What 336 00:16:39.039 --> 00:16:41.360 do you think about bitcoin? I mean, is that going 337 00:16:41.399 --> 00:16:45.000 to regain this or is it going to kind of 338 00:16:45.120 --> 00:16:48.279 hang around and wait for the economy to settle down 339 00:16:48.279 --> 00:16:50.799 on the stock market and all this other uncertainty about tariffs. 340 00:16:52.720 --> 00:16:56.039 Well, I think bitcoin is is actually held up. Okay, 341 00:16:56.360 --> 00:16:58.559 it hasn't done. I mean this is this has always 342 00:16:58.600 --> 00:17:01.919 been the question is is bitcoin digital gold in times 343 00:17:01.960 --> 00:17:06.160 of uncertainty and times of fear, in times of chaos? 344 00:17:06.599 --> 00:17:10.319 Can bitcoin hold its own? It certainly has done. Okay, 345 00:17:10.519 --> 00:17:13.319 give it a C minus. It's not a failure, but 346 00:17:13.359 --> 00:17:16.440 it did you know, have a lot of you know, 347 00:17:16.519 --> 00:17:19.680 price drop since inauguration day, which was I think one 348 00:17:19.759 --> 00:17:21.240 hundred and eight thousand day. But I think it was 349 00:17:21.279 --> 00:17:24.640 trading the other day at about eighty six thousand, so 350 00:17:25.039 --> 00:17:27.960 not terrible. And it's not like a lot of these stocks. 351 00:17:28.000 --> 00:17:30.200 I mean there were just or some of these mean 352 00:17:30.279 --> 00:17:33.200 coins other things that are digital assets that like trump 353 00:17:33.279 --> 00:17:35.599 coin or whatever that just plummets. 354 00:17:36.559 --> 00:17:37.720 So it's held up. Okay. 355 00:17:37.960 --> 00:17:40.440 I think bitcoin in the infrastructure, and I have a 356 00:17:40.440 --> 00:17:41.400 bitcoin company. 357 00:17:41.599 --> 00:17:44.799 I think the long term it goes. 358 00:17:45.200 --> 00:17:48.160 I think hand in hand with gold in some way, 359 00:17:48.319 --> 00:17:50.880 and because it's a digital it says something that gold 360 00:17:50.920 --> 00:17:53.160 can't do, but gold does something that bitcoin can't do. 361 00:17:53.440 --> 00:17:56.200 A lot of these people that are bitcoin maximusts. I 362 00:17:56.240 --> 00:17:56.960 scratch my head. 363 00:17:56.960 --> 00:18:00.400 I don't really understand why they think that bitcoin will 364 00:18:00.839 --> 00:18:04.799 demonetize gold or demonetize silver or everything goes to zero again. 365 00:18:05.160 --> 00:18:07.680 It seems kind of cultish maw like some of those guys. 366 00:18:07.720 --> 00:18:10.680 I think they're very smart people, but at the end 367 00:18:10.680 --> 00:18:12.039 of the day, I don't agree with that. I think 368 00:18:12.039 --> 00:18:17.799 it's just another asset alongside of precious metals that has 369 00:18:17.799 --> 00:18:21.319 a long term viability. I don't like any other cryptos. 370 00:18:21.759 --> 00:18:24.279 I don't sell any other cryptos, I don't deal in them. 371 00:18:24.359 --> 00:18:27.920 I think bitcoin being the it is an island unto itself, 372 00:18:28.519 --> 00:18:30.240 so I will leave that and put a pin in it. 373 00:18:30.319 --> 00:18:32.160 I don't know, I hang a question mark over. I 374 00:18:32.200 --> 00:18:36.319 think that I definitely see a rally for bitcoin sometime 375 00:18:36.359 --> 00:18:40.720 in the next twenty four months, but right now nobody's 376 00:18:40.759 --> 00:18:44.519 doing anything. I mean the win win there. I think 377 00:18:44.559 --> 00:18:47.400 what might happen? I think you and I can probably. 378 00:18:49.039 --> 00:18:51.880 What was that? What was the Johnny Carson bit? You know? 379 00:18:52.079 --> 00:18:55.119 Or is he puts the puts the letter and opens 380 00:18:55.119 --> 00:18:56.119 it up here the. 381 00:18:56.039 --> 00:19:01.440 Great Karnak, Yeah, the Karnak Yeah, Karnak, yeah, Karnak. 382 00:19:02.319 --> 00:19:05.599 Yeah. It's like, what is quantitative easy? That's what we're 383 00:19:05.640 --> 00:19:06.200 gonna get. 384 00:19:06.400 --> 00:19:10.000 And when that happens, it always happens following that, when 385 00:19:10.000 --> 00:19:13.359 they get some new FED policy and there's you know, 386 00:19:13.519 --> 00:19:16.920 trillions dumped in or something, there will be this boon. 387 00:19:16.960 --> 00:19:19.279 There'll be like, you know, everything is happy and everybody's 388 00:19:19.319 --> 00:19:22.000 doing great, and then bitcoin will rise. There will be 389 00:19:22.039 --> 00:19:24.680 a sell off in gold at some point. It's a 390 00:19:24.680 --> 00:19:27.079 little bit of sell off. It'll pull back, maybe not 391 00:19:27.160 --> 00:19:30.079 that far, but there'll be some I think that's what 392 00:19:30.200 --> 00:19:33.640 happens a lot when when these in these times, when 393 00:19:33.680 --> 00:19:36.920 there is an opportunity to buy something, people will liquidate 394 00:19:36.960 --> 00:19:39.880 their gold holdings, which puts presser on the price. And 395 00:19:39.920 --> 00:19:42.440 so that'll come out, and I think bitcoin will go 396 00:19:42.559 --> 00:19:44.279 back over one hundred thousand, and we're not that far 397 00:19:44.319 --> 00:19:46.400 away from it'll top another one hundred thousand. But I 398 00:19:46.400 --> 00:19:50.079 don't in this current environment, A lot of these new 399 00:19:50.119 --> 00:19:54.160 technologies can't grow. Whether it's AI, whether it's crypto, it's 400 00:19:54.240 --> 00:19:56.480 just stagnant. It doesn't know what to do because the 401 00:19:56.519 --> 00:20:02.039