#52 WWG&CS Interesting Times with Andy Schectman

Discover the secrets to wealth preservation through the eyes of Andy Schectman, owner of Miles Franklin Precious Metals, as he shares his compelling journey from humble beginnings to achieving over $10 billion in sales. Andy's story is a testament to resilience and vision, starting from selling life insurance policies to borrowing $60,000 to launch his company. Listen closely as he also discusses his friendship with Robert Kiyosaki and their shared mission to prioritize one’s future self, providing invaluable lessons in investing in precious metals.

We then shift gears to the complex world of banking and financial stability. The warning signs of bank failures loom large as we dissect the implications of the Dodd-Frank Act, and the unsettling potential of bank bail-ins. We highlight real-world examples, like the failure of the First National Bank of Lindsay, Oklahoma, and the contrasting treatment of larger banks, stirring a conversation on public awareness and the role of precious metals as steadfast assets amidst economic turmoil. Insights from financial heavyweights like Stanley Druckenmiller and Paul Tudor Jones underscore the enduring strength of gold and silver, even against a strong dollar.

As the episode progresses, we navigate the turbulent waters of global financial systems and the shifting landscape of economic power. The role of the US dollar as the world reserve currency is put under the microscope, alongside the BRICS' emerging influence and the decline of the petrodollar. We also delve into the strategic movements in the global silver market, with countries like Russia and China making significant plays that could signal a global power shift. Through these discussions, we aim to provide a comprehensive understanding of the evolving role of precious metals and central bank digital currencies in shaping the future of global finance. Join us for a thought-provoking examination of these critical issues and their potential long-term impact on international relations and financial stability.

Episode Transcript

Speaker 1 (00:01):
All right.
Ladies and gentlemen, welcomeback to another episode of the
Wise Wolf Gold and Crypto Show.
I am your host, tony Arterburn.
I am with a very special guest,a gentleman I've wanted to have
on for a very long time,someone I look up to and I've
followed.
I've seen him on well,everywhere, anywhere that
they're talking about ofimportance, they're talking
about precious metals,commodities markets, the

(00:24):
financial system.
You're gonna see, uh, my guestis andy sheckman.
Uh, he is the owner of uh milesfranklin precious metals, uh
commentator and precious metalsexpert.
Uh andy, welcome to the show,thank you for having me, tony.
I appreciate it, brother, it's apleasure to be here well, we're
honored and uh, we were talkingoff uh off air about you know

(00:45):
we have a little bit ofcommonality.
You know we have familybusinesses that we run and I
wanted you to talk a little bitabout your background, like
coming up, and I know youstarted your business.

Speaker 2 (00:58):
About my job I used to joke, but he's still alive
and looking back at it, it'sbeen a blessing my dad's middle
name, but I guess it's importantto phrase it in a few different
ways Tony, but the biggest.
What I'm really trying to sayas I explain my background is

(01:19):
the way that I look at gold andsilver and as we continue our
discussion maybe that should bethe way people frame my answers
we're the least likely cast ofcharacters to have achieved the
level of success we have.
My dad's middle name is Milesand his best friend who lent us
$60,000 in 1989 to start acompany on a wing and a prayer,

(01:49):
to start a company on a wing anda prayer.
His middle name was Franklinand we started in a one-room
office the size of a closet.
My parents sold their lifeinsurance policies.
We come from nothing.
My dad took a job a few yearsearlier out of desperation with
a company in the United States,in Minneapolis I don't know why
I just said the United States, acompany in the United States,
in Minneapolis.
I don't know why I just saidthe United States A company in
Minneapolis called InvestmentRarities.

(02:11):
And he did it out ofdesperation.
Both he and my mom worked inthe clothing industry.
My dad worked with Champion,the sporting goods, gym wear, if
you will and whatnot.
Gym wear, if you will, ofwhatnot and um, they lost their
job in the recession in in like83 and, out of desperation, took
a job in investment rarities.

(02:32):
So he was a.
He said he wanted that job likea hole in the head, but he had
to put food on the table.
He had a degree in in history,had no understanding of
economics and of precious metals.
Immersed, immersed himself init, however, and very quickly
understood it was not the whatthat mattered but the why, and
took to it, like you know, fishto water, and was very

(02:53):
successful right out the gateand then ended up actually
teaching the new brokers a yearlater on how to integrate into
the company.
And then was asked to speakaround the world representing
investment varieties, where hewas met by some folks in Zurich.
Switzerland asked him to bringthe concept of Swiss annuities

(03:14):
to the United States, annuitiescut off of a Swiss insurance
industry that had never seen acompany failure in almost 300
years.
So this is the genesis of it.
So I'm 19 years old, went to theUniversity of Minnesota to play
baseball, hurt myself, go towork with my dad in a one-room

(03:34):
office the size of a closet.
My parents, as I mentioned,sold their life insurance
policies, borrowed 60 grand.
This is before the internet,typing a newsletter out on the
word processor.
I was fortunate enough to spendthree summers in Zurich
learning from Swiss bankers,three in a row, when I was 19,
20, and 21, which shaped the waythat I look at things.

(03:56):
But before we got going, my dadsaid to me look, you'll buy, I'm
going to make, there's only onerule and only one rule, and
I'll fire you if you deviatefrom it.
All right, cool, dad, I candeal with one rule.
What's that?
He said?
I won't let you make the samemistakes I made as a younger man
.
You will buy something foryourself every week or every two
weeks when you get paid, period, I don't care if it's one ounce

(04:17):
of silver.
You'll buy some metal andyou'll put it away.
Period, all right.
Well, heck, that's the onlyrule.
Somehow, by the grace of God,tony, we will be celebrating our
35th year in business and 10billion just over 10 billion in
sales to date.
This February will be 35 years.
I don't know how we did it, butI've honored my promise to my

(04:40):
dad, even though I've owned thecompany outright for almost two
decades and he's still alive.
I talk to him every day.
He won't fire me anymore, butI've.
I've bought something every twoweeks for 35 years and when I
tell you it was the best giftI've ever been given in my life,
it is.
It was his way of teaching methe law of compounding Um and

(05:02):
whether it be the compounding oftime.
Like you know I know you're biginto weightlifting.
You didn't just go in the dayafter New Year's with a new
resolution and work out reallyhard for for three days to look
like you do.
It's the compounding of timeand effort doesn't have to be
interest.
Time is a big compounding umfunction as well.
And you know you had mentionedum offline about.

(05:26):
You know seeing me on RobertKiyosaki show.
He and I have um.
Robert and I have becomefriends and we talk a lot about
uh, his board game, that that hemade uh, which is basically
getting out of the rat race.
And if you don't pay yourselffirst always, if you don't
prioritize your future self, younever get out of the rat race.

(05:49):
You know we mentioned youmentioned to me that your son
works for you and I just hiredmy son Also.
He was at Price Waterhouse fora few years and wanted him to
find himself first.
And now he's working for me andI made him do the same thing
that my father did me.
And now he's working for me andI made him do the same thing
that my father did me.
But your son, just like mine is,you know, it's kind of like you

(06:14):
20 years ago.
And if you could say somethingto yourself 20 years ago like
hey, man, we got things to do inthe future, so pay yourself,
start taking care of your futureself.
Prioritize yourself.
Let the laws of compoundingwork for you rather than against
you.
Give yourself a chance to getout of the rat race by
prioritizing, because you know,if you're anything like me, you
wake up one day and you're likewell man, where'd all the time

(06:35):
go?
I still feel like I'm 25, butI'm not.
And where'd the time go?
And the best gift that I've everbeen given in the way I look at
precious metals is that it'swealth.
It's wealth, tony, that'soutlived two world wars, german
hyperinflation, the GreatDepression, every pandemic,
anything the world's ever thrownat it.
It's wealth that the mostinfluential, well-informed

(06:58):
traders in the world areacquiring at a level the world's
never seen, that being thecentral banks and, interestingly
enough, repatriating it all,bringing it home from the New
York Fed and the Bank of England, the two centers that gave
direct access to the COMEX andthe LBMA.
They don't care.
I want it in my possessionbecause it is an asset that has

(07:21):
no counterparty liability.
It is simultaneously an assetthat is not someone else's
liability, in other words, and Ithink that when we talk about
gold and when we talk about thesuccess of my company, it's, you
know, to me it's just commonsense, and that's one thing that

(07:41):
we've used.
We've talked about informationand education for 35 years under
one fundamental tenant, andthat is that gold and silver are
not investments and they mayperform like one, but they're
wealth.
And if you look at it that way,it makes the and at the time
it's like, yeah, easy to saywhen you're struggling to buy it
, but in the end, he's likeyou'll define your wealth by

(08:07):
number of ounces.
And, it's true, you don't lookand remember what you paid for
this, this, this, this.
You could probably figure itout, but it's about the number
of ounces.
So, as we continue thisdiscussion sorry to be so long
winded I just want you to knowthat to me it's wealth, and it's
wealth that I hope I never needto use.
Maybe for an opportunityeveryone looks at it for an

(08:28):
emergency.
Maybe there's a hell of anopportunity, but if not, I know
that I can give it to my kids.
I got three and long aftersomething like this is hanging
from a frame in the Smithsonianas an example of what used to be
gold and silver will still beimmutable wealth, even in the
year 3000, when my great greatgreat grandchildren are using
the gold and silver that werepassed down throughout the ages.

(08:50):
And that, to me, is how I lookat metal not as an investment,
more than anything.

Speaker 1 (08:58):
Oh, absolutely, and you know it's interesting.
We were talking about lessonsfrom fathers and I've heard you
talk about that.
Before You're going to savesomething, put away something
and keep it, and you measureyour wealth by your ounces.
Of course, what you're talkingabout too, in the sense that
gold and silver outlastcountries.

(09:19):
They outlast currencies.
My son did the same thing.
I've been telling him putsomething away.
We had a coin come in a fewweeks ago.
It was a gold Soviet coin fromthe Soviet Union 1979.
And that's the year I was born.
But he said hey, dad, can Itake this in lieu of salary?

(09:39):
Can I just take this?
Can I take the gold coin?
I'll use it.
And I said sure, I'll give youa bonus for this week and that
can be your salary.
He put that away and I told him.
I said you see, that coin isagain minted by a country that
no longer exists, but the goldremains.
The same thing with the RomanEmpire, any other civilization
that's fallen or collapsed, orany currency that's collapsed,

(10:03):
and we're literally in anexperiment.
You know, you know this since1971, when Richard Nixon took us
off the gold standard.
We're in some sort ofexperiment and it looks like
this is the end game of,basically for Gresham's law,
where you know, when bad moneyenters the system, good money
goes into hiding.
When bad money enters thesystem, good money goes into

(10:23):
hiding.
At this point we're reachingreally just a tipping point
where it's going to have like aswing back, a pendulum effect.
That's what it looks like to mebecause of the debt, because of
the currency creation, and Imean, what are your thoughts on
that?
Do you see like a completepivot that's what I see when the

(10:45):
BRICS nations, to me, the BRICSmeetings and all the things
that are going on aren'tnecessarily about them creating
a unified currency, more aboutcross-border payment systems and
the revaluation of commodities.
What do you think about that?

Speaker 2 (11:00):
Yeah, I think there's a high probability we'll see
gold revalued.
I do, and I think that it willexperience a renaissance of
sorts.
You know, people are veryunaware of things that have been
built into the system right now.

(11:21):
The great taking by DavidRogers Webb everyone should
watch talking about the rise ofthe DTCC.
You can go to YouTube and youcan go to his website I think
it's thegreattakingcom.
His book is downloadable PDF.
It's free, or I would advisegoing to YouTube and let him
narrate his book for you.
It's about an hour.

(11:43):
When you talk about what's goingon with the banks.
The first national bank ofLindsay, oklahoma, that just
failed two weeks ago, friday.
That's the first bail-in inthis country.
50% of the uninsured depositsare gone.
Of course, when Silicon andSignature failed, hundreds of
millions, if not billions, ofuninsured deposits were covered
because it was Oprah Winfrey'smoney and tech startups in

(12:03):
Hollywood and well, that was toosystemic of a risk for the
system, according to JanetYellen and the FDIC and the FOMC
and the president.
But people are unaware that theDodd-Frank Act called for bank
bail-ins instead of bail-outswhere you are an unsecured
general creditor last to be paid.
People will wake up, I think,if you see a big bank fail, not

(12:26):
this little unreported podunkflyover part of America in rural
Oklahoma, with only $7 millionin uninsured deposits.
Half of it are gone, just likethat, bye-bye.
You have a million in that bank.
You get $250,000.
That's the FDIC insurance.
You get half of your uninsuredthat's $ FDIC insurance.
You get half of your uninsuredthat's $750.
Half is what?
$375 plus $250.

(12:47):
That's six and a quarter.
That other $375, you kiss itgoodbye If they do have.
It says that well, you mightget more when we sell off the
assets of the bank, which in thearticle it says are far less
than its liabilities tocreditors and others whatever
others are less than itsliabilities to creditors and
others, whatever others are.
But the Dodd-Frank Act saysthey have up to four years to

(13:08):
pay that out, and in the form ofbank stock of the new bank.
It's just horrible.
They'll never get that moneyback again.
But what if that were to happento a big regional bank, a big
one, and it's bailed in andpeople don't even know bail-in
exists?
What's going to happen?
And they'll look and you willsee a renaissance we have begun
to see, after a two-yeardrawdown in the ETFs, like right

(13:29):
down a 45-degree angle.
We're seeing a pickup where theWestern ETFs are now starting to
acknowledge what gold andsilver are.
You got guys like StanleyDruckenmiller and Paul Tudor
Jones talking about gold andDruckenmiller saying something
to the extent of if you don'town gold, you don't know
economics.
It is beginning to fall lightlyinto the conscious subconscious

(13:57):
of the things.
That's so interesting aboutthat statement, tony, is that
we've seen gold defy what theWestern economists would say is
impossible, and that is we'veseen a strong dollar.
Even if you believe theinformation out of the, you know

(14:18):
the BLS you should take the L,the Bureau of Labor Statistics,
throw that in the garbage andjust call it the BS, the
bullshit and the CP lie.
I mean the CPI.
If we believe that, which it'sa lie, I mean John Williams of
ShadowStatscom will tell youinflation is 11%, not three and
a half.
But even if we believe it, youknow we've had a positive real

(14:39):
return between short-termtreasuries and inflation.
We've had a strong dollar.
We've had outflows out of theWestern ETFs, meaning no Western
participation, and yet goldstill goes higher and higher and
higher, outperformingeverything.
It's doubled the performance ofthe 10-year treasury over 25
years.
It's beaten the S&P 500 overthat same time period since

(15:02):
2000,.
Even with dividends reinvested,which has averaged about 9.6%
versus 9.9% on gold.
It's an asset that it's likethe tortoise and it's not flashy
like the hare, just keeps onmarching ahead and it hasn't
been noticed.
You add into it something likea bank failure or some sort of

(15:27):
an event that wakes people up tothe systemic nature of the
system.
I think you would see much,much, much more mainstream
participation and as someonewho's in the gold industry like
yourself, I think you wouldagree industry like yourself, I
think you would agree and it'snot talking our books
collectively that something likethat.

(15:52):
You know Rick Rule's a buddy ofmine and he says that there's a
one-half percent participation,one-half of one percent from Joe
and Jane Six-Pack to theHarvard Endowment Fund across
the whole financial matrix inthis country in metals.
And if that went to fivepercent, that's a tenfold
increase in demand.
How hard would it be for you toget product at a tenfold
increase in demand across thecountry?

(16:12):
Because they say there's nobull market like a metals bull
market, for one reason that thescarier the world gets or the
higher the price of gold andsilver goes.
I mean gold was $1,200 in 2000or 10 years ago in 2015.
So it's well over doubled.
If you called any of yourclients and said, hey, man,
you've doubled your money andthen some you want to sell it,

(16:35):
they had no thanks.
Tony, appreciate you checking inon me, but no, I'm not going
back into dollars.
And that's kind of what it'slike is that the higher the
price goes only reinforces thegrip people have on their gold
and silver.
So, yeah, I see a time wheregetting product becomes very
difficult as the public wakes up, whether it be through a
banking crisis, electioninterference, you name it.

(16:57):
I mean, look, there's 25million people in this country
illegally, which bothers thehell out of me.
And if one or 5% of thosepeople are pissed off at this
country illegally, which bothersthe hell out of me.
And if one or 5% of thosepeople are pissed off at this
country, well, you do the math.
I mean that's 1.1 millionpeople or so.
That's kind of crazy.
So you know you're talking astanding army.

(17:19):
There are so many points alongthe you know possibility curve
of what could wake people up toowning metals that very quickly
could change the entirelandscape of this industry like
that overnight, in my opinion.

Speaker 1 (17:34):
I think it was.
Churchill said something aboutthe terrible ifs.
The terrible ifs accumulate.
We have so many things in theperiphery that threaten the
status quo, the stability, theeconomic order of things.
Now, you're absolutely rightand you know the mainstream
doesn't cover this like theyshould.
They have no idea what they'retalking about.
They don't recognize, like whatyou just talked about with gold

(17:57):
stats, and you know weighing itagainst the market.
It's just again, it's notflashy, it's like the tortoise,
like you said.
But what is interesting is alot of that is changing because
you go back to 2011.
What was the all-time high at2011?
Was it close?
1915.
1915.
I know we got close to 2000.

(18:17):
But I was saying this on myshow the other day If you look
at that chart, it's 2011.
And you fast forward to thenext all-time high was 2020.
Right, and I believe I washosting a show for the David
Knight Show on InfoWars livewhen that happened and they put
the gold price up and I rememberthinking, well, that's a huge

(18:39):
milestone.
And then you know it tookanother couple of years.
I think it hit another ATHafter the invasion of Ukraine by
Russia.
But now, andy, I think it's hadan all-time high.
Was it 34 times in the lastnine months, or something?

Speaker 2 (18:54):
like that.
Yeah, it keeps on marchinghigher and you know it's
interesting.
The question is well, first ofall, you know it's been at
all-time highs against most ofthe currencies of the world for
quite some time now.
You look at silver as anexample.
It's at all-time highs rightnow against the rupee, the rand,

(19:16):
I think the Canadian dollarpretty close to the euro.
Again, the inordinate,unjustified strength of the
dollar masks what gold andsilver are really doing.
But I did an interview with amember of parliament from the UK
recently.
He said you know, andy, moneycreation in the West and the
United States has averaged 7%for the last 10 years.
Now, I think that's low, butlet's just talk about what has

(19:39):
happened.
If that's true money creation,tony, is the definition of
inflation it's not prices,that's price inflation.
That's the symptom of moneycreation and it's the symptom of
inflation.
So if we believe that that 7%rate is accurate, there's

(20:00):
something called the law of 70seconds, which is mathematical
law.
You take an interest ratedivided into 72, and it tells
you how long before yourprincipal doubles.
So in this case, if moneycreation or inflation, where you
inflate, the money supply hasbeen averaging on average 7% per
year for the last decade.
That would then say 7 into 72,10 years, 10.2 years.

(20:24):
10.2 years ago, our dollar wasworth double what it's worth
today and if that's true, well,gold was 1,200 bucks in 10 years
ago, in 2014.
So did the dollar lose half ofits value or did the gold just
over double?
My point is is that you canmake that over my shoulder.

(20:44):
You got Roosevelt confiscatinggold with his executive order.
There are $20 gold coin and a$20 gold certificate, and the
gold certificate says payable tothe bearer on demand in gold
coin instead of in Godway Trust.
But let's just pretend Grandpaleft you 500 of these and 500 of
these Now.
The $20 gold certificates workmore than a $20 bill.

(21:05):
I'll give you that.
But just for the sake ofargument, $520 bills in one shoe
box for grandson Tony and $520gold coins they were
interchangeable.
It's the same thing.
It's an ounce of gold, justabout for grandson Tony, and you
open up that box when you're 18years old.
It's presented to you by your,your parents, and this was from

(21:26):
your grandfather and God resthis soul and the whole nine
yards, and well that you knowthose.
That that $20 bill, even thoughyou got 10,000 bucks worth.
But okay, 10,000 bucks, 500 ofthem, that's a lot of money.
It's great, but the same amountin gold, which were interchange
, interchangeable.
It's worth a million dollarsplus, and you know so when you

(21:48):
talk about did gold go up or didthe dollar go down.
Twenty dollars back then in1933 would have bought you a
suit, a tie, an overcoat, shoes,the whole nine yards um.
And today that twenty dollarbill wouldn't even buy you a tie
, might buy you your shoelaces,but it's not going to buy you
the suit.
That ounce of gold is stillgoing to buy you everything.
So it's gold.

(22:11):
Hangs with the declining valueof the dollar, the inherent
inflation that's built into thesystem.
The Fed talks about strivingfor a 2% inflation rate.
We're never going to get to 2%.
They pivoted when they're 65%away from their two percent
target rate.
So they didn't signal a victoryon inflation.
They're waving the white flag.
But I've always thought why?

(22:32):
Why pick two percent?
How about negative two percent?
Because the lower the inflationrate, the higher the standard
of living.
Inflation's not going anywhere.
You know we have a $36 trilliondebt nearly, and $200 trillion
in unfunded liabilities Medicare, Medicaid, social Security,
government, military pensions Ata time when the appetite from

(22:53):
the rest of the world for ourtreasuries of any duration.
I think they're uninvestable.
Myself, 10 years and out.
I mean you ought to be out ofyour mind to buy a 10-year
treasury paying 4%.
You know it's a guaranteed bondof confiscation.
I mean you might as well kissyour purchasing power goodbye.
So who would want to hold it?
Point of it is is that we'reentering a period of time that

(23:15):
is vastly different than everbefore, and I think a lot of the
smart money is replacing goldwith treasuries or the other way
around.
Replacing treasuries with goldhas no counterparty risk.
It's doubled its performance.
It doesn't have inflation risk.
In fact, it retains its valuethrough inflationary cycles.

(23:36):
That's what this is all about.
It's the rest of the worldunderstands, and maybe the
weaponizing of the treasurymarket certainly helped.
But the fiscal irresponsibilityof this government where we're
creating 100,000 in debt everysecond, one, two, three, four
and keep on going, a trillionevery 90 days.
A trillion seconds ago was31,688 years ago.

(23:57):
It took 200 years to do it thefirst time.
We're doing it in between 90and 100 days.
The irresponsibility is off thecharts and that's not going to
end.
So this is why you own gold.
This is the important part ofit, and this is why the biggest
money in the world is moving inthis direction accumulating gold
, repatriating it, sellingtreasuries or letting them roll

(24:19):
off their balance sheet, becausethey understand that this is a
country that has choseninflation over austerity.
This is a nation that's got bigproblems with debt, with
immigration, with judicialsystem, with the electoral
system, with the wokeness, withall of this crap that used to be

(24:40):
the hallmark of this greatcountry.
This is why I personally wantPresident Trump to win, to
regain some sanity.
We're so far departed from theculture.
Our culture is beingwhitewashed.
The monetary stuff you can dealwith, you know.
You look back at this country'sstand with its back against the
wall.
It's always risen to theoccasion, but the difference is

(25:01):
we were unified.
Look at World War II.
We were all Americans and weweren't defined by who we voted
for in the last election.
And you didn't have to go toThanksgiving where your wife
says to you, like she does to medon't say a damn word, not a
word until at least dessert.
Okay, because I'd like tofinish dinner tonight, because
I'm that guy that would, youknow, get into a conversation
and then, all of a sudden itgets heated at the dinner table

(25:22):
with your family, because that'show divided we are on these
issues.
So these are times unlike any Ithink we've ever seen, and this
is why you can only save theworld one person at a time,
starting with yourself and yourimmediate family.
But yeah, I think, as a Chinesecurse says, tony, may we live in
interesting times the nextseveral days.
As we're recording this daybefore the election, I think all

(25:45):
bets are off to see how things.
I left Minnesota and moved toFlorida four years ago, three
and a half years ago, in whatwas supposedly the peaceful
George Floyd protests inMinneapolis, and they were
anything but peaceful.
So let's hope that we don't seea repeat.
But something tells me one wayor the other, you got half the
country pissed off and reallyangry about how this all unfolds

(26:07):
.
I hope I'm wrong.
I truly do.

Speaker 1 (26:10):
I don't think you are , unfortunately.
I think that's just built intothe system.
Now it's got to play out andthere's a lot of unknowns Again.
That's where you know, in anuncertain world where people are
running the precious metals,commodities, the stability of
the dollar, the stability of ourinstitutions has come apart and

(26:31):
you can look at cyclicalhistory that happens If you
follow the historians Straussand Howe.
They wrote a book called theFourth Turning.
We're basically 80 years outfrom Breton Woods, so it's
between 80 and 100 years is theRomans call it a saccharum or
you have a major change insociety and that's playing out.
That was the end of World WarII, it was out of the Great

(26:52):
Depression and all that.
That was that last fourthturning, and then this one, and
let's hope that it's not exactlylike the last one.
It doesn't have to culminate ina giant war or an upheaval or
anything like that.
Maybe it's a lot ofinstitutional changes, but that
is the the order of the day.
It's, it's chaos and uh, tryingto find some stability in the

(27:14):
chaos is is the goal, it shouldbe the goal of anybody who's
paying attention.
But uh, the days of what weperceived as is normal if you
had normalcy.
That's very dangerous right nowbecause changes in the wind,
not stability.

Speaker 2 (27:29):
It's very common at the end of long macro trends to
have that recency and normalcybias.
It's normal, you know, andthere's a whole school of
investing Tony called wavetheory, elliott wave and
Kondratiev wave and you get alot of people who put a lot of
stock in in the validity and thewhole thing is based on human
emotions.
Um, and the peaks and thevalleys that are, that are have

(27:54):
been seen for centuries in theway humans react to things and
the euphoria and the chaos andthe fear and um, that's.
You know that that's somethingthat I think is that is why so
few people succeed in investing,where the smart people find
value in things that areundervalued and underloved and

(28:14):
they see this country willalways remain that way until it
doesn't.
And then you get this mass waveof panic and emotional driven
buying or selling or whatever itmay be.

(28:34):
I think it's appropriate tolook at things that way.
Most people can't get out of theway of what they don't see
coming and when this comes it'sgoing to catch so many people
off guard.
You know, just ask people.
You know what makes the dollarthe world reserve currency.
You won't get maybe oneintelligent answer out of 100.
Ask people.
What is a bail-in?

(28:55):
Do you know what it is?
What is the Dodd-Frank Act?
Or you can ask them all whatare the BRICS?
What's the Belt Road Initiative?
You can ask them all of thesequestions and most of them will
just be ignored or they'll say Idon't know, tell me about it
and you know where is thereporting.
Why aren't we being told thatgold was reclassified, the
world's only other tier onereserve asset next to US dollars

(29:17):
and treasuries?
Is that why all the centralbanks are buying it and selling
treasuries?
I mean, these are the thingsthat we need to know to think
critically, but we're not beingtold them.
You have to go to alternativemedia like yourself, and I'm all
right with that, but the legacymedia has failed this country
in many respects.

(29:37):
You can look at the lawsuitTrump is levying upon CBS in 60
Minutes as a prime example ofthat.
They are not helping the publicmake an informed decision.
In fact, they're so biased thatthe decisions become visceral
if compared with the other side.
In other words, how could yousupport this guy, this and that?

(29:57):
Because the message has beendistorted and poisoned by the
media, which I hate to say, butin every respect, I believe it?

Speaker 1 (30:10):
Oh, I believe it.
I mean you can tell that theyserve some sort of narrative
function for institutions thathave nothing to do with finding
the truth or investigatinganything or shedding light on
anything.
Maybe at one time they did, butI don't take any stock in
what's out on the mainstream.

(30:31):
I have to go searching for whatthe true headlines should be.
I mean, gosh, andy, we lost thepetrodollar and nobody said
anything.
And that's like the cornerstoneof what supposedly the currency
is based off of.
After Nixon took us off, thegold standard was at 73, 74,.
We did the agreement with theSaudis to denominate all the

(30:55):
crude transactions in dollars,basically OPEC, and that's what
made the petrodollar.
And if you study US foreignpolicy, it was always assumed
that a lot of the things that wedid that were Middle Eastern
centered or, you know, aroundthat area, was to prop up the
petrodollar and they literallyjust let it lapse.
I mean, how do you explain that?
How do you explain that therewas no resistance, no summit?

(31:17):
No, you know, trying to codifyanything, anything just
literally just let it go.
And I have so many questionsabout that.
What was your take on that?

Speaker 2 (31:26):
I mean, look at our lead economic advisor.
Many of your listeners mayremember Jared Bernstein on
Twitter trying to explain bondsales.
It was the most humiliatingthing I've ever seen.
He's our lead economic advisor.
He's a dude with a degree inmusic and a master's degree in
social work.
He calls himself aninclusionary economist whatever
the hell that means but hiswhole thesis is to lose the

(31:48):
reserve status.
That it's a privilege we can nolonger afford.
And you know, signing anexecutive order to go green when
our relationship with OPEC andSaudi Arabia is the linchpin to
the hegemony is really not thesmartest thing in the world to
do.
And then, by weaponizing thedollar and creating an
environment where because halfof the petrodollar deal was yes,

(32:11):
we will protect you, saudiArabia, and, by extension, the
Saudi Kingdom, and you'll valueoil and dollars, but then you'll
take the excess and recycle itinto US treasuries.
Well, the treasury market hasbeen weaponized.
Last year was the first year in45 years where gold was less
volatile than the 10-yeartreasury, and you can see where

(32:31):
we make it seem like to theworld that rates will stay low
forever and then jack them upafter everyone loads up on them
by 500 basis points in a yearwhich destabilizes the treasury
market.
So we sign an executive orderto go green, we weaponize our
treasury and the way that a lotof these countries look at us is
hypocritical.
Janet Yellen can say well,we're okay with Xi Jinping and

(32:53):
Putin being buddies.
You know in the bricks and myinitial thought was well, that's
very nice of you, madamSecretary, thank you, but if one
penny is given by Xi to thePutin war machine, we'll
sanction their banks, theircompanies in Beijing itself.
And I'm thinking well, whatabout the you know 200 billion
we've given the Ukraine?
And the Stinger missiles andthe F-16s, with no congressional

(33:14):
oversight?
Does that not count foranything?
Or the fact that we haveinvaded Iraq 20 years ago under
false pretenses, never foundthose weapons of mass
destruction, destroyed theircountry, toppled their regime
and guess what?
We're still here 20 years later.
Hey, we're still here and we'resanctioning 14 of their banks

(33:35):
for trading with sanctionedbanks in Iran to secure liquid
natural gas to cool their homesin the summer.
So we sanctioned them whilewe're still there.
They made $90 billion in oilrevenue in 2023, asked us for a
billion towards the end of theyear.
Can we have our money back?
It's held at the FederalReserve in New York.
They can't even control theirown natural resource 20 years
later and we're like, yeah, it'syours, but this isn't a good

(33:58):
time, come back next year.
So what have they done?
They're kicking Westerncoalition forces out of the
country.
They have formally applied tothe BRICS.
They make trading in dollarsillegal and as of January
earlier in the year here, eightmonths ago, they got rid of all
dollar bills in any bank in thecountry.
So you know our actions ofweaponization, of hypocrisy,

(34:20):
perceived hypocrisy,mismanagement of the dollar,
signing an executive order to gogreen.
You know when your point, the50-year anniversary, was in
August and the Saudis didn'tsign the exclusivity deal, they
said, yeah, we'll still takedollars, but we're going to take
other things too.
That lights the fuse, really,on the hegemony.

(34:41):
In fact, I would argue thatkilled the hegemony.
It didn't kill the supremacy.
We're still the supremecurrency in the world, but we're
not the only.
See.
That synthetic demand for thedollar because every country had
to stockpile it for to me, willonly crystallize their resolve.

(35:12):
I don't know if you're familiarwith what the BIS did at the
12th hour to the Bricks, whichis right out of a James Bond
movie, tony, I mean it seriouslyis to me it's like I don't know
.
It's right.
Let me just get to the point.
So I've talked a lot.

(35:33):
So there's a man named SergeyGlazyev and for four years I've
talked about this stuff on 4,000YouTube videos.
And the reason I said thatthere would be a common
settlement currency not a commoncurrency for the BRICS, but a
common settlement currency not acommon currency for the BRICS,
but a common settlement currencyfor energy, particularly in
commodities but because SergeyGlazyev, who is the Eurasian

(35:55):
Economic Union finance minister,he said there would be that we
would have a basket ofcommodities and a basket of
currencies and this willultimately be the BRICS system.
And I researched him a lot,read a lot about him, followed
his work and believe that that'swhere we were going to go.
And we kept reading about this.

(36:16):
And so last year, the China,Hong Kong, thailand and the UAE
announced that Project Enbridgeis now operational and they did
two test trades.
China traded digital yuan withUnited Arab Emirates, who is a
BRICS member, to buy oil and tobuy gold.

(36:37):
Two transactions and I saidthat's interesting.
They chose those two because Ibelieve they're both being
remonetized remonetized Iranawarded the biggest contract
they've ever given to any othercountry, to remodernize their
biggest airport in Iran, andgave it to China, and they're
paying for it in oil.
And you can see when China goesaround and uses their digital

(36:59):
yuan.
Whether it be to buy corn andsoybeans from Brazil or
technology from Russia, they'repaying with this digital yuan,
which is immediately convertibleinto gold in the Shanghai Gold
Exchange.
So gold and oil are becomingworth more than the currency
that purchased it.
But Enbridge was designed byChina, hong Kong, thailand, uae.

(37:22):
It's a cross-border paymentsystem that allows these
countries to trade their owncentral bank digital currencies
with each other, free from anyinterference in the SWIFT system
.
It's a big deal, and standingbehind this program is the Bank
of International Settlements,which is a Western institution,

(37:44):
and I've always saw that andkind of just conveniently look
past it.
It wasn't my mistake.
Well before I go down that road, let me back up and backfill.
So there was a meeting thatcoincided with the G7 meeting in
Italy a month and a half agoand it was a BRICS meeting in

(38:04):
Novograd, russia, where DelmaRousseff came out and she's the
former president of Brazil,she's the head of the BRICS New
Development Bank and she saidpublicly that we've agreed in
principle to a new settlementcurrency called the UNIT.
It will be gold-backed by 40%60% in the BRICS Plus currencies
.
It will be redeemable.

(38:25):
It will be held within theborders of the countries that
mint their own tokens.
That's why we've seen 40countries repatriate their gold
from the Bank of England and theNew York Fed.
It's less to do with theweaponization and more to do
with the fact that I believe itwas going to be.
It would be the backing of a newsettlement currency that,

(38:46):
instead of being held like theBank of England to give access
to the LBMA or New York to giveaccess to the COMEX, the white
paper on the unit says it willbe held within the borders of
the countries that make theseunit tokens.
That will be traded overEnbridge.
So they say it's going to betraded over Enbridge.
Then all of a sudden you seeSaudi Arabia join as a fifth

(39:07):
participant.
So Saudi Arabia doesn't go tothe meeting for the G7.
They go to the meeting forBRICS at the same time, where
it's announced that the Enbridgewill be the platform to trade a
new settlement currency peggedto gold, and it's not compatible
with US dollar or the SWIFTsystem at this time.

(39:28):
So it would be a way for energyto be sold in local currencies,
trade done in local currenciesback and forth, free from the
ability of the SWIFT to stop itto impose sanctions.
And the BIS Innovation Hub isalso behind it.
They've been helping developthis.
They're the ones thatreclassified gold tier one in

(39:50):
2019.
They're the ones pulling thestrings in many respects, and my
mistake in this was to overlookthe BIS's role in all of this.
And I was given an interviewwith Michelle McCorry two weeks
ago of Kitco, and she might bethe best interviewer I've ever
given interviews with.
I tell her that because notonly does she do her homework,

(40:12):
she always says to me before westart listen, I agree with most
of what you're saying, andy, butI am going to push back because
that's what good journalists do.
I said all right, michelle, I'mready for it.
Throw, throw, throw at mewhatever you got.
And she says when I say this, Isay look, they've agreed in
principle.
Delmarusov comes out and says wehave agreed in principle to
this new token.
It's called the unit.

(40:32):
It will be traded over Enbridge.
Enbridge is a cross-borderpayment system and these
countries can trade with oneanother.
No swift intervention.
Saudi Arabia just became thefifth full participant.
Dollar is not compatible.
This is the future ofsettlement in the global south
that will circumvent the dollar.
And she said something to me andand it was like ding, ding,

(40:54):
ding, ding, ding.
Why didn't I think about thismore?
She says, but andy, isn't thebis a western institution?
And I'm like, yeah, you'reright, michelle.
And so we go back and forth.
And I'm like, yeah, you'reright, michelle, and so we go
back and forth.
And I'm like, you know, it wasstrange that the bricks came out
in their little manifesto thatthey made, or their whatever you

(41:16):
want to call it.
It's like a 50-page thing.
I tried to read all of it, kindof like a document of how it
all went down during theirmeeting, this big meeting that
they just had, and I found itinteresting that they were
saying things like you know, wesubscribe to be good partners

(41:38):
with the WHO, the World HealthOrganization.
I'm like what?
And the BIS and the IMF and theUnited Nations?
And I'm thinking, well, wow,maybe Michelle and I were onto
something, because maybe thesepeople at the BIS, the big
bankers, the old Western bankers, they realize they can't have a

(42:01):
one world currency like theyalways wanted.
But maybe they'll have a twoworld currency where you have
Project Cedar and Agora from theWest with Project Enbridge from
the east and they wouldintegrate with Enbridge and you
can have the BIS and the IMFpulling the strings on top of a
digital system.
Instead of having a one-worldcurrency, they'll have a
one-world system that they canstay on top of.

(42:22):
Okay, going down that road, nowhere's where it gets dirty.
Here's where it's like I don'tknow it's.
It's where it's espionage.
It's right out of a bricksmeeting, I mean right out of a
James Bond movie, what I'mtrying to say.
So you have this thing going onwhere the BIS was standing
behind it for five years anddeveloping this.

(42:44):
You get this, this knucklehead,and developing this.
You get this knucklehead.
Vedat Patel come out of theState Department recently and
say any challenge to the SWIFTsystem and the dollar's role is
a threat to global democracy.
A week ago, paul Krugman saysthat de-dollarization is, in

(43:08):
fact, impossible because therejust aren't any good
alternatives.
And you got the StateDepartment come out and say any
alternatives to the SWIFT systemand the dollar are a threat to
global democracy.
Really, that was an interestingstatement to hear from us, but
here's where it gets dirty.
So now, remember, this has beengoing on for five years with
the backing of the BIS, helpingChina, hong Kong, thailand, uae

(43:31):
and now Saudi Arabia.
And you can't make this up.
They say the article is titledEnbridge being shut down
question mark and you get thisguy named Augustus Carstens, who
looks like Augustus from WillyWonka only grown up and he's the

(43:52):
BIS general manager, and hesays we cannot directly support
any project for the BRICSbecause we cannot operate with
countries that are subject tosanctions.
I just want to be very clearabout that.
And then you get Agath Demarius, a senior policy fellow at the
European Council of ForeignRelations.
In the long run, there is nodoubt that the mechanisms like

(44:15):
Bricks Bridge could be usefulfor China, russia or others to
hide sensitive transactions fromWestern authorities.
The underlying technology is atool to circumvent sanctions and
potentially undermine thedollar's dominance in the global
financial system.
So my question to you is, tony,where the hell have they been
for the past four years, threeyears, all of this shit that's

(44:38):
been going on with Russia?
They just now, the day that youknow during the meeting.
After all, after it's viable,it's been launched, it's ready
to go, even even only in minimalterms, like they're like.
Launched.
It's ready to go, even only inminimal terms, like they're like
.
Yeah, it's going to grow muchbigger, but it is now minimally
viable.
We can start trading on it andthe BIS is standing behind it.
The innovation hub has beenhelping these countries for

(45:00):
years.
They know that it's a BRICSsettlement currency platform
that sidesteps SWIFT.
They know that R stands forRussia in the bricks.
And then they announced just so,y'all know we can't do this
we're going to pull the plug atthe 12th hour.
It's like you want to talkabout espionage or James Bond or

(45:22):
dirty, dirty dirty.
We help you set it up for fouryears, we build this damn thing
with you and right when you rollit out, no, we're pulling the
plug.
Sorry, because Russia'sinvolved.
Where was this rhetoric leadingup to this?
Where was it two years ago?
And so when you talk aboutcrystallizing the resolve of
these countries, it just furtherexplains why these countries

(45:45):
don't trust the West.
And you know, michelle wasright.
I should have focused on itmore, but this is a very fluid,
changing deal.
People used to say to me Andy,the West won't go down easy on
this and I always thought whatare they going to do?
This is exactly how they do it.
They infiltrated, they saw thetechnology that was mostly
Chinese based.
They stood behind it, theyhelped it, they foster it.

(46:06):
Here we are at the last moment,boom, pull the plug.
Now it hasn't officially beenpulled yet, but even the fact
that they're saying this, and,and the head of the imfs, we
can't do anything, that, will,you know, allow a sanctioned
country to.
You know, the imf or the biswon't be part of that.

Speaker 1 (46:21):
It's pretty dirty, if you ask me it is very dirty and
you know it really gives theman opportunity to play the US
and our currency against othersand the commodities and
cross-border payments.
It's something like ThomasJefferson said that merchants
have no country.
You know, you talk about thebanking institutions and that's
really.
It is out of a Bond movie.

(46:42):
I mean, that's what you know, aBond narrative, because that's
what that was.
The villain, you know was.
You know somebody bondnarrative, because that's what
that was, the.
The villain, you know was.
You know somebody that was partof the banking.
They call it combines.
You know the banking combinesand consortiums that unite
together or whatever to to formtheir own, their own agenda, and
that's really what this is.

(47:02):
That's.
That's a paradigm shift, though, because you kind of think that
it's, it's monolithic.
You know that there's the west,there's the institutions that
were, of course, the bisprecedes, uh, the great
depression.
I'm pretty sure that it goesback a little bit before um, but
but the imf was born out ofbreton woods, uh, the world bank
and other things.

(47:23):
So that's interesting.
You know that.
That it's not.
It's not something that's acompeting system.
They are literally part of.
You know the new rollout.
They've decided to jump ship itlooks like, or at least play
both ends against the middle.

Speaker 2 (47:39):
Yeah, and so the West has.
You know, we have somethingcalled Project Cedar and Project
Agora, which are answers, ifyou will, to the BI or to the
M-Bridge.
But it really, I think, showswhy these countries won't trust
us anymore.
Even Putin said during ameeting in St Petersburg not too
long ago that the Bretton Woodssystem is dead and the dollar

(48:01):
is backed by nothing but trust.
And this is trust.
That just goes to show much ofthe world doesn't trust us
anymore.
And this is exactly why and youknow you mentioned do you think
gold will be revalued earlier?
I do.
It's held, ironically, in anaccount on every central bank
balance sheet, what's called thegold revaluation account.

(48:22):
That's the name of it.
You can't make that up.
You can't make that up.
And the head of the DutchNational Bank has been calling
to revalue gold for ages, wherehe's saying look, we got $35
billion in gold valued at $35 anounce on our balance sheet.
It's still valued at theBretton Woods price and the
current rules.
The reason it's called the goldrevaluation account?

(48:43):
It's actually a liability ontheir balance sheet.
The asset itself is on theasset side.
They mirror each other, so theybalance out.
You're not allowed to use thosefunds to offset liabilities.
They're like well, why don't wejust change that rule, revalue
the price of gold and ourbalance sheet goes from putrid
to pristine, just like that, andI always thought that was

(49:04):
interesting.
That's pretty much whatRoosevelt did in 33 after he
confiscated gold.
And I always thought that wasinteresting.
That's pretty much whatRoosevelt did in 33.
After he confiscated gold, hedevalued the dollar by 40
percent, paid everyone 20 bucks,then devalued the dollar by 40
percent.
Gold was immediately worth 35.
And I figured, well, you knowthey could do that, but he was
the only one talking about it.
Then you get Cynthia Loomis, thesenator from Wyoming who's now

(49:26):
talking about it, saying youknow, she spoke at the Bitcoin
meeting in Tennessee a month ortwo ago when Trump spoke and
talked about building astrategic Bitcoin account, and
she said yeah.
She followed him right after hegot off stage, said I'm going
to float a bill down to theHouse floor that says we should
revalue the gold that theFederal Reserve is holding on

(49:46):
behalf of the Treasury andrevalue it to a level sufficient
enough to take some of thoseproceeds and buy Bitcoin for the
strategic account.
As crazy as it sounds, it's notso crazy.
I mean, janet Yellen wouldn'teven need congressional approval
to do it.
She would just tell JeromePowell here's what gold is, and

(50:07):
then the Fed or the Treasurycould then make an open
declaration to any sovereignentity you want to send us your
gold, We'll pay you X for it.
Every $4,000 increase in theprice of gold gives a trillion
free and clear to the Treasurygeneral account and that's kind
of I didn't love.
I said this to Michelle.
I didn't love the title of ourtalk, something like gold to

(50:28):
130,000.
I think people looked at it askind of hyperbolic.
But my point to her was well,in a world where Bitcoin can be
a million dollars or peopledon't think twice about that why
couldn't gold be 130,000?
You put it at that level.
You've now completely wiped offthe liability side of your
balance sheet or offset it withassets.
In other words, you put it at130,000 an ounce.

(50:50):
Tell every country in the worldyou want to sell us your gold.
Here's your money, we'll pay130,000 an ounce.
And now your balance sheet isperfect.
You've offset the liabilitieswith an asset and you know it
would behoove every central bankon the planet.
They're the ones allaccumulating it.
We know that they're intendingto peg it to a system.

(51:11):
Even the IMF.
You mentioned the Bretton Woods.
It came out of Bretton Woods.
It's interesting.
There was an article in 2020where you know, on the Bretton
Woods website saying we want anew Bretton Woods.
It's 150 or so countries thatcomprise the Bretton Woods.
They all want a new BrettonWoods.
And's 150 or so countries thatcomprise of Bretton Woods.
They all want a new BrettonWoods.
And even the BRICS, in theirlast meeting last week, said we

(51:32):
want a new Bretton Woods.
That means they want a newdollar system, something that's
different than what we alreadyhave.
So Kristalina Georgieva, thehead of the IMF, talks about
this sort of.
They wrote a report at thebeginning of last year and it's
something like you could Googleit.
It says gold as aninternational reserve a

(51:52):
barbarous relic, no morequestion mark.
And she came out recently andsaid any central bank digital
currency not pegged to somethingis fiat.
Well, why would it be gold?
Because the BIS, the mostpowerful bank in the world, who
we just got through talkingabout reclassified gold as the
world's only other tier onereserve asset in 2019.
This is why it would make sense, and that's next to US dollars

(52:13):
and treasuries.
That's why it would make senseto use gold and distributed
ledger technology, akablockchain, to peg these two or
marry these two together toprovide some form of credibility
to a system that lacks it.
So, yeah, I think these arecrazy, crazy times, brother, and
I do think that gold will becentral to a system that is in

(52:35):
desperate need of trust, because, you can see, we've done our
best to squander the good gracesthat our foreign creditors have
given us for a long time, tosquander the privilege of being
the world reserve currency, but,after all, that's what our lead
economic advisor advocates forin his report called dethrone
King dollar that was picked upin the New York times and the
Washington post.
He advocates for privilege.

(52:56):
We can no longer afford Um, andyou know so.
You can't make a lot of thisstuff up, but I do think that we
have done more to destroy um,this country, the current
administration has, in the lastfour years than any external foe
ever could have done.

(53:16):
We've weaponized the dollar,we've inflated the crap out of
it.
You know, we've let 25 millionpeople in here illegally.
There are questions on theintegrity of all of the
cornerstones and hallmarks ofthis country, from the judicial
system, the FBI, the electoralsystem, immigration system,
everything.
And we're printing money at thepace of 100,000 in debt per

(53:38):
second, 24-7.
So that's not what you do if youwant to be the world reserve
currency and then sign anexecutive order to go green
which is spitting in the face ofyou know what makes the dollar,
what gives it its hegemony?
The petro status.
So all of these things takentogether in and of themselves,

(53:58):
each one of these things are badenough.
You put them all together andyou can see a pattern, and it is
a pattern of is this too stupidto be stupid?
Are we trying to reset thesystem?
Are we incentivizing the worldto dump dollars?
Are we incentivizing the worldto find alternatives?
I don't know.
I mean and then again you seethe BIS do this I just don't

(54:19):
know other than to say that theactions that our government has,
the path that they're taking usdown, is a very dangerous one.
And again I'll say is it toostupid to be stupid?
Because ultimately this allleads to a reset or a
revaluation of gold, or a resetof the system that is highly

(54:40):
over leveraged and undercapitalized.
And it's been a privilege to bethe world reserve currency we
should be clinging to it insteadof destroying the value of the
dollar to stabilize in theTreasury market, weaponizing it,
and to be the world reservecurrency.
We should be clinging to itinstead of destroying the value
of the dollar, destabilizing thetreasury market, weaponizing it
and going around the worldimposing sanctions, which many
believe to be hypocritical.
You couldn't draw up a betterthing to not do if you wanted to

(55:00):
retain your reserve status.
But this is why I think you seethe rise of the BRICS and all
of these countries that arepushing back against this
nonsense.
Where does it lead?
I guess only time will tell.
But if, if they were a newsettlement system for energy,
yes, it would disincentivize theholding of dollars and the

(55:22):
street, the synthetic demandthat has been created for every
country having to own dollars tobuy energy.
If that was gone, all thatmoney comes rushing home, which
creates hyperinflation, whichthen would push interest rates
to the moon to compensate, whichwould then collapse.
The entire system, stocks,bonds, real estate, the dollar,
the banking system, theinsurance companies.
That's the Klaus Schwab moment.

(55:44):
And now you point to those sonsof bitches.
They did it to us, they did itto us, rallying cry, and that's
when you get into, maybe, a CBDC.
Lael Brainard, the number twoadvisor for the U S government.
If she wins, lael Brainard willrun the federal reserve.
She's a modern monetarytheorist.
She was number two under Powellrecently where she left after

(56:06):
being at the treasury she wentto the Fed.
She developed or worked on theCBDC with MIT when Biden signed
it, fast-tracked its developmentone of his first executive
orders.
She just ran point for FedNow,which is Venmo and Zelle on
steroids, backed by the Fed.
It's being piloted right now.

(56:26):
She's a modern monetarytheorist.
What better way to issue a CBDCthan when the whole system
collapses?
And it was.
They did it to us because theydumped the petrodollar.
And now you know people wouldbe less hesitant to take a
central bank digital currency ifthey were made whole when their
whole everything blew up, thanbeing forced to take it or

(56:48):
having even being incentivizedto take it under orderly
conditions because of thetracking and the loss of privacy
and all that kind of stuff.
But in an event where peoplehave to take it to survive, they
will.
Could that be where they'regoing?
I don't know.
All I'm simply saying is thatall of these things together
make you go.
Hmm, it's interesting, and wereally haven't been good
stewards of the world reservecurrency.

Speaker 1 (57:11):
I mean, in my opinion , I look at it, it seems like a
controlled demolition.
I think it was James Forrestal,the first secretary of defense.
He told Joe McCarthy, of courseJames Forrestal mysteriously
fell out of a window at BethesdaNaval Hospital.
He was opposed to some of theyou know, the birth of the
national security state andother things in foreign policy.
But he told Joe McCarthy thatif they were simply stupid, that

(57:35):
every once in a while they'derr in our favor.
But they never do.
He's talking about theestablishment and I think that's
what I, that's really what Iperceive of this, andy.
I mean it's there's nothingthat's been done.
And you, you talk about thelast four years.
It is a scorched earth.
I mean they're just literallyjust bringing the temple down on
all of us, not trying tobolster anything off-ramps to

(57:56):
peace.
There's no summits, there's nocommunication between world
leaders, especially in thesepotential kinetic conflicts like
Ukraine or what's going on inthe Middle East between Iran and

(58:17):
Israel and the United States.
There just seems like there'snothing that is stopping the
forward momentum of whateverthey're headed towards, some
sort of you know get great reset.
They call it that, some sort ofcataclysm.
But the world as we know it isgoing to change and there's
nothing that you and I can doabout it.
There's, it's not.

(58:37):
It's not reversible at thispoint.
There's changes on the horizonand again, we can prepare for
that and we can make betterdecisions if we have the
information.
That's what you and I try to doand talk to people, at least to
get them to ask a differentquestion.
We may not have all the answers, but we definitely think that
you should ask differentquestions, especially in this
reality.
But we could talk forever.

(58:59):
I'm going to have to end theshow pretty soon because I'd
like to come back and do it withyou again.

Speaker 2 (59:04):
I'll have you on my show too, Tony.
I mean, you're, you're a smartguy, you get it.
You're one of the few peoplethat I talked to who truly gets
it.
Um, and if you're like me, youknow this is cathartic to be
able to talk to someone, Causeyou know, most people you come
in contact with in your dailylife have no idea, and you try
to help.
But it's not something that'spleasant, you know, and that's

(59:25):
the thing.
It's not about making profitsand buying Ferraris, you know.
It's about protecting whatyou've worked so hard to obtain.
It's about preparing.
It's about, you know, reiningin.
These are the reasons why sofew people want to listen to
what we have to say until it'stoo late.
So, yeah, I enjoyed theconversation too.
I'd love to come back on anytime you got time, Just let me

(59:46):
know.
I'd love to pick up where weleft off.

Speaker 1 (59:49):
Oh, absolutely.
I'll close with one lastquestion, because we didn't even
talk about silver and I'veheard you talk about it, but I
got from you and I didn'trealize about the 500 ounces of
silver in each Tomahawk missile,the military industrial.
There's so much that made sensefrom that interview you did
with Robert Kiyosaki.
I started, just the wheelsstarted turning.
I go, wait a minute.
That makes total sense, youknow, with JPMorgan Chase's role

(01:00:12):
of suppressing the market andeverything else.
But something happened thatwasn't covered by a lot of
people.
I think the Jerusalem Postpicked it up.
But Russia is adding silver asa strategic reserve asset and
along with platinum andpalladium.
But they really put the silverout front.
I thought that was interestingand from my reading of history,
that really hasn't happenedsince the pre-communist Chinese

(01:00:33):
at least that's the way Iunderstood that China was a big
silver market.
That was their basis for theircurrency.
What do you, just as we closeout, do you think that is as big
a deal as I thought it was?

Speaker 2 (01:00:47):
Yeah, it's huge as a matter of fact.
And at the same time you haveIndia, who's bought between 800
and 900 million ounces in thepast three years, and China,
who's the second largestproducer of silver in the world.
I've been talking with a guynamed Sean Kunkun, the head of
Dolly Varden Silver, who said tome Andy, they're flying all
around Latin America, theChinese are.
They're going directly to theminers and they're

(01:01:09):
disintermediating themarketplace and the banks and
they're buying the concentrateand the dore.
A dore is an unrefined it's acrudely refined bar that the
miners will pull the silver outof the ground.
They'll crudely refine it tomaybe 40% or 50% pure and then
they send it to the refiners tomake 999.
The Chinese are saying we'llpay twice what the West will pay

(01:01:31):
.
We'll buy it and ship that inthe concentrate, which is like a
byproduct sludge.
We'll ship it back to China andwe will refine it ourselves.
So you have China buying up alland they're the second largest
producers in the world and theyare now net importers after
years of being net exporters.
They're buying up unrefinedsilver right from the miners,

(01:01:51):
india buying everything that'snot nailed down as much as they
can between eight and 900million ounces.
And, lo and behold, silver's atall time highs against the
rupee.
And now Russia, these three theBRICS members now Russia's
saying we're gonna add it to ourstate fund, which is something

(01:02:15):
you're right.
You don't ever hear that thisis huge.
And when you realize that theLondon Metals Exchange trades
2.9 billion ounces of silver perday, that's three and a half
times annual global mine supply,90 plus percent of it paper
naked contracts.
These banks in the West areshort on the LBMA between four
and six billion with a B ouncesof silver.
It's less transparent and lessregulated.
It's not an exchange.
It's the over the counterplatform where it's me and you

(01:02:36):
shaking hands, and so there'sless regulation, less
transparency, and that's why wedon't know exactly how many
ounces, but it's between fourand six billion.
They're short.
And at the same time, on Comexyou have five banks short
between seven and 800 millionounces.
These are as dumb as a mud wall.
They're suppressing the pricebecause of the military,
industrials, complexes need forsilver.

(01:02:58):
There is between 500 ounces inthe cone of all of these
high-tech weapons, and thatdoesn't even take into account
aerospace, like the stealthbomber, and all of this stuff
requires silver Used to bereported.
The military used to reporttheir numbers.
They don't anymore.
The Silver Institute completelyignores it and yet says we're
still going to have 230 millionounce shortfall this year, but

(01:03:19):
no military involved in it.
And the bigger question is whywould five banks hold the
largest concentrated shortposition in any commodity traded
?
I got two minutes and I got togo, but I want to show.
Can I share my screen with you?
Absolutely, I'll show peoplethis so that you can see it in
real time.
And then I got to fly, but letme share my screen here.

(01:03:42):
This is a presentation I gaveat Rick Rule's conference.
Can you see that?
Yes, all right, so let's findthis slide.
Okay, it starts right here.
Let me make this bigger.
Let's do this.
How do I do this stupid thing?
Let me just make this bigger.
Okay, you can Google this righthere, subcommittee S.2768.

(01:04:05):
You can see it's 1942.
But this is a congressionalhearing.
The present consumption ofsilver for war purposes is at
the rate of 100 million ounces ayear and growing rapidly,
according to the war productionboard.
It's only matter months beforewar demands will increase
sufficiently to require at least200 million ounces per year.
It's 1942.
Here are the silver supply anddemand numbers for this year by

(01:04:28):
the Silver Institute Industrial9%.
Electronics and electrical 9%.
Photovoltaics, that's solarpanels 20%.
Raising alloy and solders 3%.
Other industrial 9%.
Photography negative 3%.
Where is military?
This is why you have this.

(01:04:49):
The red line.
This is comex.
The red line are four bigcommercial banks.
The eight line, the green line,are the four plus another four.
There are eight commercialbanks.
They're the big western eightbanks that are shorting the
markets.
So ask yourself, why wouldeight look at here's crude?
Ask yourself, why would eightlook at here's crude oil, right

(01:05:09):
here?
Why would eight banks hold thelargest concentrated short
position in any commodity evertraded in the history of the
COMEX?
In silver, interesting platinum, gold, palladium are the next
three, but this is the largestconcentrated short position ever
and because we're holding itdown to fund the military
industrial complex.
This is what the rest of theworld is doing.

(01:05:30):
This is what China and Indiaand Russia are doing.
These are the LBMA vaults.
Of the 800 million ounces theyhave, they say it's the second
lowest holdings they've ever hadsince they started keeping
records on the LBMA 140-year-oldexchange.
Of this, 800,000, 500,000 ormore belong to the ETFs.
That leaves three, uh three.
That leaves 300 million.

(01:05:51):
It's 800 million.
That leaves 300 million ouncesavailable.
So I'm going to stop sharingright now.
Do I do that?
Uh, just you.
They're trading 2.9 billionounces.
They say 290 million, which isthe whole float, that whole 300.

(01:06:17):
It's basically traded every day.
But they say it's 10 timesundervalued or underreported,
because they only report thefinal settlement numbers, which
means that's 3 billion ouncesper day.
They're trading three and ahalf times global mine supply
annually.
But it's all done on paper.
So these countries are like okay, you guys are stupid because we

(01:06:39):
are now coordinated, motivatedand sophisticated and wealthy
and we know what you're doing.
You're suppressing the pricefor whatever reason.
I'm sure they know what it'sfor.
Why do you think India hasbought, you know, between 800
and 900 million ounces?
Why is the largest producer orsecond largest producer of
silver in the world flying allaround Latin America buying Dore
and concentrate?
And now, why is Russia buyingit?

(01:06:59):
Because they know it's notindustrial, it's strategic and
the West has held the price downforever to allow the military
industrial complex to createweapons to fund the ever
increasing wars they play bothsides.
If you had silver where itshould be, it would be too
expensive to make these weapons.
It would change the dynamics ofthis country very quickly, or
at least the power elite.

(01:07:20):
That's why you have these bankssuppressing the price, as
stupid as it is, and that's whythe rest of the world has caught
on to it.
And while many of thesecountries in the South, like
China, russia and India, ah, sowe'll do the jujitsu.
We'll use the leverage of youropponent against them, we'll
drain the exchanges.
This is why they're notbitching about it, but they're

(01:07:42):
forming their own exchanges atthe same time, like the Shanghai
Metals Exchange and theexchange in Moscow and they
talked about the BRICS GoldExchange this last meeting and
the Dubai Exchange, which willtake over legitimacy.
In fact, in the last six months, the volume in the Shanghai
Metals and Gold Exchange is upover 500%.
It's now the second mostheavily traded metals exchange

(01:08:03):
in the world, surpassing theCOMEX.
They're gaining legitimacy.
They're buying up all of ourcommodities, using the
suppression as a tool forsubsidy.
It's the dumbest thing in theworld.
So that's going to change andyou'll wake up one day and
silver will be way higher thanyou could ever imagine, because
it will result in a failure todeliver or something along those

(01:08:25):
lines.
That creates a panic in themarket, prices go up, short
positions have to cover.
Or one of these eightcommercial banks says I'm not
going down with all you guys,it's every man for himself Bye,
I'm out, I'm covering and bang,you get short covering the short
squeeze.
Or boom, boom, boom, boom, boom, boom.
It just goes higher than youcan imagine and it's an
existential threat to some ofthese commercial banks who are

(01:08:47):
stupid enough to maintain thatleveraged, naked short position
in an environment wherecountries like China, russia and
India are saying ah, this ishow we beat you.
Instead of going into a war,we'll just drain the exchanges
using your stupidity, using yoursuppression and the ability to
stand for delivery where no oneever did.
That's how this all breaksapart.

Speaker 1 (01:09:10):
Andy, thank you for making the complex digestible,
thank you for your leadershipand I wanted to say, as we close
, there's an old joke from theNixon administration.
He had a speech writer namedHerbert Stein and Pat Buchanan
would joke about it and saidthere was a.
They called it Herbert Stein'slaw.
It says if something cannot goon forever, it will stop, and it

(01:09:30):
looks like that's uh, that'sgoing to be true here, with all
of these commodities and pricingand uh metals, the financial
system itself, uh but uh,interesting times and thank you
for for being here.
I appreciate you.
You know, that's a.

Speaker 2 (01:09:44):
Chinese curse brother .
So, uh, so they are,unfortunately.
I preferred it when it were.
You know, mellow, mellow, butnonetheless, tony, you're a good
man.
I'd love to pick up where weleft off.
I'd love to come back anytimeand I'd love to have you on my
show as well.
So thanks for having me and Godbless this country.
It's going to be an interestingweek.
Let's hope it.

(01:10:05):
Let's hope we're all wrong inwhat we see and that this is a
smooth transition and a good, agood um, a good model for the us
to, to, to, to start, to, youknow, move forward from.
So, any case, thanks again forhaving me and I look forward to
doing it with you againappreciate you, andy.

Speaker 1 (01:10:24):
See you, brother, thank you.
All right folks.
What a great interview.
I've wanted to talk to andy fora very long time and I'm
Appreciate you, andy.
See you, brother.
Thank you.
All right folks.
What a great interview.
I've wanted to talk to Andy fora very long time and I'm hoping
we'll talk again soon.
And be sure and share theepisode.
I'm going to put this out onall the channels, not just the
Wise Wolf channel.
But be sure and share theepisode.
Go check Andy's channel out,make sure you follow him and
anything that he's doing Alwaysa wealth of knowledge.