December 14, 2025 • 55 mins
Andy Schectman returns for another sharp and timely Friday Night Economic Review to break down the underreported economic realities that have shaped 2025. We dig into the millions of jobs already lost this year—levels now matching the 2020 pandemic collapse—and the additional million-plus layoffs projected for 2026. It’s a crisis unfolding in real time, yet one almost no one in mainstream media will acknowledge.We also examine the explosive AI investment bubble gripping global markets. Even as this bubble shows the classic signs of an inevitable break, AI is fundamentally reshaping every corner of society—from labor and finance to geopolitics and culture. The transformation is already underway, and the economic shocks we’re witnessing today are only the beginning. Andy and I connect the dots on what investors, businesses, and everyday Americans need to understand now.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
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Speaker 5 (03:10):
It's like the foreshadowing is ridiculous that they had one
recently about what would happen if the Internet went out?
What would happen if the Internet went out? You know,
I think these are all things that you have to wonder.
Are the people pulling the strings the ones that were
behind all of this? And I would say, to some
degree they are. That's the sad part. Look at all
(03:30):
the patents Bill Gates and Microsoft has on digital currency.
It's very concerning, and how Visa and MasterCard have embedded
themselves into this type of technology, and how Visa has
created a reverse cash ATM machine where like at the
(03:51):
Super Bowl last year, you walk in with a handful
of cash, there no one takes cash, You put your
money into an ATM machine and out pops a card
and that machine, actually they say, destroys the currency.
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I have Andy Sheckman coming back for our Friday Night
Economic Review, and we're going to talk about the dangers
of AI. I know it's been talked about a lot,
but I'm not sure if it's been really talked about from.
Speaker 2 (04:24):
The standpoint of the economics behind it.
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And then we get into some of the more underreported,
very important headlines when it comes to the world financial
system and the economics in our country, what you may
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(05:34):
dot com, slash Miles Franklin. Okay, here's my Friday Night
Economic Review with Andy Scheckman.
Speaker 2 (05:43):
Hi, Andy, welcome back to the program.
Speaker 5 (05:45):
Sarah, great to see you.
Speaker 3 (05:47):
Okay, I figured for this where we should talk about
all the hidden risks coming in.
Speaker 2 (05:53):
It's it's really bad. We just went through them.
Speaker 3 (05:57):
There are a lot of explosive financial economic risks that
people are not realizing because they're not being reported. What
is being reported are the risks that help the political parties.
Speaker 2 (06:09):
And hurt Trump or help Trump or whatever.
Speaker 3 (06:11):
But it doesn't really Nobody talks about the real issues really,
I mean, they're just.
Speaker 2 (06:19):
Not talking about them. So let's start with AI.
Speaker 3 (06:23):
The investment in AI in this country. What did I
say the total number was when we talked just in
this country, the percentage of investment in a fusty Yeah,
it's sixty four percent of VC dollars have been in
twenty twenty five.
Speaker 2 (06:40):
Went to AI. Globally it was fifty two percent.
Speaker 3 (06:44):
Is depending on who you look at and who's reporting,
But that's unheard of kind of investment dollars in a
single industry. And obviously there's going to be a bubble
that's going to pop. It's just not sustainable.
Speaker 2 (06:57):
What do you think how long do we have before that?
Speaker 3 (07:00):
I mean, we've got Project Genesis that's coming up and
they're gonna they're trying to reshape everything based on AI
and it will reshape everything. But the investment dollars are crazy.
Speaker 2 (07:13):
When do you think that will pop?
Speaker 5 (07:16):
Well, I mean it's it's not only is the technology
changing so fast that the investment is moving in pushing
the multiples two levels that no one in the right
mind would have ever even thought of back in the day. Uh,
And it's incredibly risky. Yeah, I mean it's the same
thing as the dot com bubble where everything flowed into
(07:39):
anything that was related to technology, and you know, on
a on on a on a bigger scale. You can
look at it from that standpoint. Sure that there's there's
a malinvestment, there's over investment, there is throwing caution to
the wind type of investment. But look at the bigger
picture as as what it's going to do. It's going
(08:01):
to not only is it going to depress wage growth
for sure and create layoffs, so we'll create a good
deal of efficiency for business owners, corporate owners, the big
behemoths at the expense of millions of jobs. And so
it's kind of a double edged sword. On one hand, yes,
(08:21):
you could argue that it's become irrational in terms of
the amount of investment going into it and the price
to earnings ratios on what it takes to own these
stocks where you're talking, you know, many years out in
terms of when you talk about you know, last I looked,
I don't even know what there were a few not
(08:44):
in Nvidia that Pallenteer was a couple one hundred to
one pe ratio. I don't remember what the number was,
but these are extremely, extremely stratospherically high numbers. And I
think that back in the day, it's important to realize
that people wouldn't invest in this industry, or any industry
for that matter, in stocks unless they were paying somewhere
(09:07):
or being valued at somewhere in the neighborhood of single
digit price to earnings ratios while paying a five, six
or seven percent dividend. You don't see any of that
in any of this stuff. It's very dangerous.
Speaker 3 (09:20):
Every does remind me of the dot com uh free
you know phase where people because I was in that,
I remember being in the middle of that, going why are.
Speaker 2 (09:29):
They investing in these companies?
Speaker 5 (09:32):
They are?
Speaker 2 (09:32):
It was joke kind of stuff, right. They were throwing
in at anything, and they were right.
Speaker 3 (09:39):
The Internet was going to fundamentally change the way the
world was operating, and it did. But they were investing
in anything that was Internet thinking that, and nobody understood
they weren't. They weren't doing the due diligence. It was
just a complete farce, right. Some some companies actually did
really pay off.
Speaker 2 (09:56):
Maybe that was the case.
Speaker 3 (09:58):
They said, Okay, we'll invest in ten one will really
make it big, the other ones won't, and.
Speaker 5 (10:03):
Who cares, which is pretty much what happened.
Speaker 2 (10:06):
It is what happened.
Speaker 3 (10:07):
But some of these companies that got investment dollars were
such a joke. And I think we're seeing the same pattern,
except I think it's on steroids.
Speaker 2 (10:15):
I think it's worse than.
Speaker 5 (10:16):
What we saw. Then, Yeah, it appears to be that
way when you're talking north as sixty percent of you know,
venture capital funds rolling into aire there, certainly I would
argue it's probably not being investigated the way that with discernment,
the way that they should have in terms or that
(10:37):
they should in terms of you know, investing your money
in sound projects. And look, you know, things change very
very rapidly. You're already beginning to see companies trying there.
Like Google just came out and said that they have
a chip that will challenge in videos chip. Google has
the Google Willow Protege, which is on them computing that supposedly,
(11:03):
and they will say this that it can do in
five minutes what the world's fastest supercomputers can do in
ten septillion years. It's like ten to the twenty fifth
piz I. It's crazy. So things are changing that fast.
At the same time, you have a lot of money
where these mining centers where they were mining for bitcoin
(11:25):
are now because of the having cycle in bitcoin and
because of the cost of energy, it's becoming uneconomical to
mine for bitcoin, and these huge data centers they're now
transitioning to AI. So you have so much pouring into
into you know, a small little field, you know. Yeah,
(11:51):
there'll be some winners, Yeah right, there'll be some winners.
There will also be some massive losers. I think it's
you'd be better off lookingto a to an area that
has a greater opportunity to profit with you know, more
realistic pe ratios and more realistic forms of return in
the form of dividend. So I'm not sure exactly where
(12:12):
that is, but I think at this point it would
be maybe not considered the most prudent move to jump
into the AI pray when you're seeing this kind of
volume going into willy nilly, into the industry.
Speaker 3 (12:25):
Well, I think probably the support structure for it is
probably a better bet right now. The electricity yeah yeah,
I mean whatever, but the faster chips are probably going
to be necessary because that reduces energy, right, I mean,
if you can get something that takes five minutes that
used to take years, that's going to reduce energy.
Speaker 5 (12:44):
Well, I think another be mandatory. Right. A bigger question
is how will it be disruptive to all of the
you know, the the infrastructure that relies upon computing when
you talk about, you know, anything alphanumeric and quantum computing
(13:06):
that is now becoming more of a reality. Yes, these
are prototype chips, but so what I mean you're you're
talking massive consequences of that type of technology to a
world that is moving increasingly digital. I personally am very
concerned about the AI revolution. I think it's it's the
(13:29):
genie's been let out of the bottle, for sure. But
you're talking thirty to fifty percent of entry level jobs
gone within the next three to five years. You're talking
many white collar jobs. My son was a before he
came to work for me, was an accountant at Price
Waterhouse getting paid eighty grand to analyze a balance sheet
of a real estate investment trust. AI can do it
(13:51):
in six seconds for free without having to pay that.
But that's going to you know. I was on a
show the other day and it was kind of like
a game show, kind of like Shark Tank and I
had to in a few minutes present why someone should
own gold. And there were three or four contestants, each
(14:11):
in their own field. The gentleman who owns this show
is a billionaire. He's blind attorney who's very successful, an entrepreneur,
and he started this program. They also have a AI
platform that they are rolling out that is is as
incredible as anything I have ever seen. And at the
(14:34):
end when he called up the AI number live so
everyone could witness it, and asked it to compare and
contrast using artificial intelligence, and compare and contrast it with
precious metals on how someone like myself as an executive
could find a better work life balance. And he talked
(14:56):
on the phone with this AI. It sounded kind of
like Alexa for five seven minutes and very deep and bang.
This thing just rattled stuff off. A guy was so
blown away by it. I can't even tell you to
the point where he said, you know, offline said see
you could you could make a thousand of yourselves and
you can sit on a boat in the Caribbean if
(15:17):
you'd like. I know. It answered questions so perfectly and
with such depth and articulate, and I mean, and you
start to think, what is this going to do to
the workforce? It will make It's a case shape economy
that we're heading into or already in, where the rich
will get richer, the poor will get poor, and this
(15:40):
maximum efficiency will come at the expense of millions of jobs.
And that's that's just the truth. And you can see
it's being fast tracked by the amount of money that's
being poured into the system.
Speaker 3 (15:50):
And I got to tell you, I'm really concerned because
I think this will be centuries of It'll affect the
human race for centuries, right, if we don't get our
shit together and not.
Speaker 5 (16:03):
Well, you aren't talking about universal basic income in one
world order. I mean, this is it in the respect
that everyone always said that. But if around the globe,
in any industrialized world, AI takes away from and robotics,
don't forget robotics. I mean, Elon is bringing out his
robot company next year. You're talking robotics that can disrupt
(16:24):
all the way up into you know, police force, into
dangerous jobs like working in you know, in in underneath
the subways or en sewers or mining capacity or I
mean the whole thing. It's dystopian, but it's it's real,
and I think people need to think about that.
Speaker 6 (16:44):
It is.
Speaker 3 (16:44):
And even like Elon wants to put out a thing
about it replacing judges because AI can be impartial and
you can get a result in six minutes from that objective.
Now this concerns me because whoever's behind it is who
we have to be concerned about. If tyranny is running
the judges, which is what we kind of have, we
(17:06):
have a broke I don't want to say we have
a broken justice system. We have a very corrupt, captured
justice system, and so we have tyranny behind it. And
so people who you can't even get discovery on things
that should just be automatic discovery because if you get discovery,
then it messes up their case because there's too many
things they want to hide. And so judges are paid
(17:28):
off or something because discovery should be open on a
lot of these cases and they're not allowing it. And
so we have a really captured, corrupt system. A very
objective AI could change that. The problem is if we
have a tyrannical AI, it would be it would be
worse than we have today, which is already pretty bad.
(17:50):
So you know, you look at what it could actually change.
I'm concerned because this is what we have. We have
people that understand human development and society and systems level stuff.
That's what we need to look at. It needs to
be a broad systems level look at what's going on.
Very few people are thinking in that direction, and we
(18:11):
don't have the people who are involved in politics and
designing human systems don't have the understanding, the engineering tech
understanding to understand.
Speaker 2 (18:22):
How it's being done.
Speaker 3 (18:23):
And then the people who are the scientists and engineers
that understand how it's being done don't have the human
side of it.
Speaker 2 (18:29):
They just don't think that way.
Speaker 3 (18:31):
And so we have very few people that are actually
equipped right now. And so what I'm saying is we
as a society, we're just not mature enough. I think
that the technology has bypassed.
Speaker 2 (18:43):
Human's ability to take it on. I'm very concerned.
Speaker 3 (18:48):
And when it comes to education, I think it will
cause children to not develop important, critical necessary skill sets
because it already has it has, and so whole generations
are going to be missed, like we can't utilize them
because they don't have the skill sets we need.
Speaker 5 (19:11):
Yeah, they just came out with the report saying that
sixty percent of the country has a literacy rate under
that of the sixth grade. This isn't helping things when
they are able to cheat their way through factfinding, critical thinking.
You know, the things that we had to do which
shaped this society for the last fifty years, you know,
(19:32):
where it wasn't just at your fingertips. You had to
think and to research and to dig and to spend time.
Of course it does. It's the pursuit of knowledge that
makes you smarter. It's not just it right there. And
they were saying that in the next several years, the
(19:54):
next wave of AI, the more advanced form of it,
will present a reac where it has the ability to
have all of the accumulated knowledge of every human being
that's ever lived. And so you're talking about everything at
your fingertips in terms of knowledge. Now, I guess in
(20:19):
the perfect world that could be great, but it also
I think presents the possibility to create a generation of
very lazy people who don't critically think for themselves. I
think that's eleantory havoc on the labor market, just freak
havoc on it.
Speaker 3 (20:38):
I think it's ineffable. And you know, I've been talking
to some people who are on the cutting edge of
finance and development in that way, and they're concerned that
their engineers aren't getting so much of that is automated.
They're concerned that they're going to have to force their
even thinking of doing this now, force their entry level
engineers to do things by scrap just so they can
(21:01):
learn the skills that they need because we don't have
the pipeline now for people who can actually manage this
stuff because it's all automated. But at least they're smart
enough to realize, Okay, we got to back out here
because we're not developing the pipeline that we need. And
I think that's going to happen in every industry if
(21:21):
we are. If we're just willing nilly running towards this
without actually taking a step back, going wait a minute, here,
we are really undermining humanity for centuries forever, maybe I
don't know, for cent if we don't get our shit
together now.
Speaker 5 (21:37):
This is the toothpaste is out of the tube type
of deal. This is forever, unless you know, we just
blow it all up and go back to handwritten notes
and stuff. This is just the very beginning of it.
And yeah, it should be concerning. It is concerning, and
you know, and it's a race right now in between
(21:58):
the United States and China for supremacy in the area.
But pretty soon everything will be robotics and AI. And
what does it mean for the whole world. What does
it mean for warfare? What does it mean for finance?
How about the Google Willow chip and quantum computing? What
does it mean for a world that is on your
(22:19):
cell phone? How about cracking and hacking into bank account
records and into cryptocurrency and into everything you know, A
company like as it is right now, a company like
JP Morgan spends over a billion dollars with a B
a year on it and security. How how big does
(22:41):
this get? At what point does it make it impossible
for the small business person to have any form of
digital records that are safe. The whole thing is just
you can let your mind go. But when you think
about a one world order where the world is living
on universal basic income, where you have the rich and
the poor because they're jobs out there for people to
make a living, this is where you get into that
(23:05):
dystopian type of Klaus Schwab you'll own nothing and rent
and be happy type of environment. And it's not. I mean,
you know, even if, as I've talked about a lot lately,
the ability to Trump to bring back manufacturing through getting
rid of the dollar reserve currency, debasing the dollar, and
let's just say he does how much of that will
be meecapped by robotics. You take a look at a
(23:28):
typical car assembly line. Used to be all people. Now
it's all robots and and on and on and on,
and it's becoming a reality. And while there are opportunities
on the investment side, it just as you were saying,
so much money is pouring in there, you don't know
where the value is and things are changing so fast that,
(23:50):
you know, what, what is groundbreaking today may not be tomorrow.
The bigger issue to me is what does it do
profoundly do to the economy at large, to the markets,
and just to life in the United States or in
any industrialized society. As AI becomes more and more and
(24:11):
more prevalent, at the same time, the culture the society
is moving into the digital surveillance state, with digital id
with stable coins, which in my mind are a central
bank digital currency masquerading as a stable coin, just issued
through third party entities, but monitored closely by by the FEDS,
(24:31):
by the government. You know, we're moving in that direction everything,
you know, sixty five percent of gen z say cash
is cringe, Like really, you can't hold cash?
Speaker 2 (24:44):
Cringe?
Speaker 5 (24:45):
God, yeah, I know. And That's the point, is that
we have a country that is illiterate. Sixty percent of
the country as a reading proficiency under that in the
sixth grade.
Speaker 3 (24:55):
My husband transit Sarah just and go ride the transit
just gor And that's you can see where the country's at.
Speaker 5 (25:06):
But it is, and it's it's it's we're broke. Household debt,
credit card debt, student debt, car debt, car car payment delinquencies.
They're all at record highs, you know. And so we're
in debt, we're uneducated, we don't make anything, and AI
(25:26):
is advancing at a rate that is is mind numbing.
It doesn't bode well for things unless there is a change.
And the change starts with understanding and bettering yourself at
this in terms of information.
Speaker 2 (25:40):
You know, and with this information war though, how do
you know?
Speaker 3 (25:45):
And this this is why I'm just really buckling down
and saying I'm getting more a lot more serious, guys,
because this is getting I got to be the adult
in the room, and you need to be. I can
tell you're the adult in the room. We have to say, okay,
we got to be the adult in the room because
if we're not, we're screwed. And we've got to be
more responsible on what we do because the information that's
(26:06):
out there. We're in the information war, and so much
of the information is so bad that it's driving people
in ways that are not helping people. And after we
live through COVID and after we've seen some of this
tyranny at a very scary level, it's I don't want
these people behind this, you know. That's why I'm saying
(26:27):
it is beyond important for people to step up and
get more serious and realize that although it's fun to
do creative kind of stuff that doesn't matter and gets
the clicks, we got to be more serious because this
is this is writing. It's like lemmings following each other
off the cliff.
Speaker 5 (26:46):
Yeah, well, that's that's the herd mentality. And that's why
so few people don't fall off the cliff, because they're
the ones that act independently, like yourself, like myself, who
say things that most people would think they're crazy. Yet
those that are open minded, you know the difference between
to me, that there's between being smart and being intelligent.
If I were going to make kind of just a generalization,
(27:08):
you know, you can say that someone who's very intelligent
is very well read, maybe reads the wrong stuff. But
to me, someone who's smart doesn't really need to be
overly intelligent, but they need to be able to understand
that the world is very dynamic and that things change
(27:28):
and they have the ability to change their opinion. And
that's the difference in my mind, between someone who's intelligent
someone who's smart. If you're smart, you can have an
opinion on the world, but be presented with facts that
make you say, hmm, maybe I ought to rethink that,
and are able to do so. You see a lot
of people like in our home state, aren't my old
(27:49):
home state and yours of Minnesota, And I wonder what
the hell they're thinking, Like, how could they even begin
to think of of re electing Governor Wallas with all
of the things that are happening. And yet these people,
many of them are very intelligent, they're just not smart.
They're not able to look past their disdain for the
Republican Party or for President Trump and to their own detriment.
Speaker 3 (28:11):
Well, yeah, because the economic reports came that Minnesota is
one of the lowest now on from an economy standpoint, we're.
Speaker 2 (28:19):
Absolutely going in. It's kind of like Detroit. You know,
I mean we're going into the gutter.
Speaker 5 (28:24):
Well, how about the hundreds of billions of dollars that
have been funneled to over a billion to Mogadusho, many
of which to al Shabab or whatever it's called, a
terrorist group that wants to end America. So I mean,
the whole thing. And yet this guy gets a pass
and there will be people that will still vote for him.
My point is, now that's diverging from what we're talking about,
(28:46):
but it's the point that you have to be able
to understand the world is very fluid and changing very fast,
and that you have to be able to look at
it and say, yeah, maybe it's time that I look
at things a little bit differently. Maybe it's times For example,
you know, if you've got kids that are going to college,
you need to sit them down and say, no, you're
not going to study that or that or that. It's
(29:07):
a dead end. How about you you position yourself into
a field of study that would if this plays out,
if we see AI like it's projected to be as
disruptive as it is, find a area of study where
you can implement artificial intelligence robotics that kind of stuff
into your studies so you can come out of school
(29:30):
with the ability to make a living and make a difference.
Otherwise you're just wasting time, wasting money, and screwing yourself
for the rest of your life. And that is the truth.
I've had this conversation where my daughters were in tears.
I said, I don't care what you want to take.
It's sad, but this is the truth. You want to
come out of school after four years at you know,
Penn State University and work at a Starbucks, Well, that's
(29:51):
up to you. Or do you want to find something
that the world is moving in this direction? Now? Smart? Intelligent,
and no, I don't care. This is my passion. I'm
going to follow it great. Well, see where that takes you. Smart,
You're right, You're right. I darn it. I'm still going
to learn about this, but I'm going to find a
way to implement these changes, these changing dynamics into my narrative.
(30:16):
You have to do that. You have to be able
to say I'm wrong, and a lot of people can't
do that.
Speaker 3 (30:20):
But well, my daughter is you know, went to Penn
State and then she transferred to the University of Minnesota.
During COVID, and I said, you've got to have the stem.
You have to have something like you just said, AI robotics.
But back then it was more just something in this field,
and then you can translate that into whatever you want later.
(30:40):
But yeah, this is where the entire world is going,
and you have the brain for it, so frickin do
it and then translate it into whatever the heck you want. Yes,
and later though, now that they're older and have jobs,
they're like you, they are so happy that they went
into that. Now they want to translate it into what
they want to do. But they're really that they were
(31:00):
able because so many of their friends are not getting jobs,
or they have full time jobs and they're still dependent
on their parents.
Speaker 5 (31:08):
Or they're miserable too. Yes, and you know your daughter's
age group, the gen Z population is the highest level
of unemployed in America. So they can't get a job.
They're in debt, they have student debt, many of their
degrees are more or less worthless in this new world. Yeah.
(31:31):
I think these are the kind of things that are
very important to discuss and to think about you as
you move forward. You have a friend who's a periodonist.
I said, well, at least your field is safe, he said,
I don't know about that. There are robots coming out
right now that do all of it for you. In fact,
he says, I have one that places the crown or
the new tooth exactly where it's supposed to be, So
(31:54):
it's like better than I can. Every single field is
being is being disrupted. Just about every field is being
disruptive and disrupted. So it's a big deal. It's a
big deal. I think when you look at the amount
of money that's going into it, it shows the emphasis
on this. It's going to expand. It's going to be
(32:16):
as relevant as the Internet was. You know, when I
started Miles Franklin, there was no Internet. I remember thinking,
who the hell would want to use a cell phone?
I remember seeing a guy at a Chinese restaurant in Minneapolis.
Is at the Yang Sea restaurant in Saint Louis Park.
I'll never forget it. I was in high school then,
maybe or a nineteen eighty nine, just graduated high school.
(32:37):
The guy's got a phone the size of a shoe
up to his ear, came in a big box and everything,
and I remember saying, who would after that? Who would
want to use text or email? Why not just call it?
I mean all of the things that either you roll
with the changes or you get rolled by them. And
(32:57):
you know, now, look at how prevalent thet is to
everyday use, whether it be you know, smart apps in
your house, your bank information, you know, your your credit cards,
your everything you do. Everything is on the Internet. And
it's just as profound as that has been. This will
(33:18):
even be I think, far more pure and it helps
usher in also the digital surveillance state where everything is digital,
including your money. And this brings in a whole nother discussion,
but yeah, we're moving into that direction, no question about it.
Speaker 3 (33:37):
Well, I think the disturbing thing for me is who's
behind all this? If we had people who I trusted
or we could trust, and we had some kind of
way to filter them out that they're not psychopaths and
they're not trying to just control us like what we
just saw with COVID. I don't want those people behind
these systems. I mean, we can't afford that, and I
(33:59):
think that's what is a scary part.
Speaker 5 (34:02):
Look at Microsoft, how deeply entrenched they are in this
chat EPT and their new systems. I mean, you know,
is Bill Gates involved in was he did he have
anything to do with what happened with the COVID vaccines
and whatnot? I mean, you know, think about the the
w A. Who was it the the group that had
(34:25):
the the pandemic stimulation right before the pandemic.
Speaker 2 (34:32):
And yeah, yeah, yeah, wasn't.
Speaker 5 (34:35):
The the it was the Klaus Schwab group. What yes,
And they simulated what it would be like in a
pandemic and they actually used a coronavirus of some form.
It's like the foreshadowing is ridiculous that they had one
recently about what would happen if the Internet went out?
(34:55):
What would happen if the Internet went out? You know,
I think these are all things that you have to
wonder are the people pulling the strings the ones that
were behind all of this? And I would say to
some degree they are. That's the sad part. Look at
all the patents Bill Gates and Microsoft has on digital currency.
(35:18):
It's very concerning, and how Visa and MasterCard have embedded
themselves into this type of technology, and how Visa has
created as a reverse cash ATM machine, where like at
the Super Bowl last year, you walk in with a
handful of cash. There no one takes cash. You put
(35:39):
your money into an ATM machine and out pops a card,
and that machine, actually they say, destroys the currency that
has the capability to write down the seal, to take
note of the serial numbers on the bills and get
rid of it altogether and then give the person a
(35:59):
digital card. And everything is moving in the way of this,
and I think bettering yourself through understanding it and finding
ways to integrate yourself into the system as advantageous as
it can be for you, is important. One of the
reasons to own physical gold and silver is it is
(36:21):
outside that system for as long as you want, until
you bring it back into the system and liquidated at
that point have to be paid in digital dollars or
whatever it is. But we are moving in that direction
well stable coin based system.
Speaker 2 (36:35):
But that's why golden silver is increasing. I want to
talk before we end this.
Speaker 3 (36:39):
I want to talk about a couple other things that
people don't realize. Our threats that are happening. We have
commercial real estate crisis has been that you know, the
can has been kicked down the road with that, and
we have one point five trillion dollars in commercial mortgages
that are needing to be reset. We also have the businesses.
(37:03):
It's kind of tied to the same thing. The businesses
that were stuck in are set, not stuck.
Speaker 2 (37:08):
They were happy to be in.
Speaker 3 (37:09):
Loans that were two to three percent are now all
needing to be reset as well. You can't reset these
mortgages and these loan rates at six seven percent when
they were two to three percent before and expect these
businesses and these commercial loans and all.
Speaker 2 (37:26):
These people to be able to make it. I mean,
it's just just going to happen.
Speaker 5 (37:31):
This is why we're seeing problems in the repo market. Again.
The repo market is the overnight lending mechanism between banks
and hedge funds, and normally you don't hear about it.
That means the plumbing of the system is working well. Literally,
they borrow from one another, lend to one another overnight,
(37:54):
and to balance balance sheets. Let's just pretend. Let's use
the state of Minnesota, which has a lot of fortune
in one hundred companies. Let's say US Bank, who is
a Minnesota bank, has payroll obligations to three m General Mills,
Best Buy, Target, Medtronic, and Boston Scientific. You know those
six companies alone, their payrolls are into the hundreds and
(38:16):
hundreds of millions of dollars, if not more, and they
all come on the first of the month, and Bank
of America or a US bank is just a little
bit short. In order to fulfill those obligations, they would
borrow money from another bank in the system, like let's
say Bank of America or Wells Fargo or JP Morgan,
(38:37):
and they would give them collateral repostands for repurchase. So
typically they use US treasuries. If not, they're going to
use mortgage backed securities. And there's been a lot more
mortgage backed securities posted as collateral than treasuries lately. Is
there's a little bit of a shortage I guess of
treasurers in that space, and we've seen some very big
(38:59):
problems recently. Let me explain this is all about commercial
real estate. So typically these banks will, no questions, ask
for a very small percentage, like maybe a half of
one percent annualized, so it's tiny, tiny percentage, but huge
amounts of money. They will exchange treasuries or mortgage back
(39:20):
securities for cash and then agree to buy it back
the next morning at a slightly higher price, and when
that is flowing, everything works great. Right now, what we
see it's like you turn the water on in your
house and you hear thumping in the walls. You know
something isn't flowing right, no matter what thoughts that you
turned on. So basically, if we go back to twenty
nineteen when the repo market went to ten percent interest
(39:44):
rates overnight and the whole thing almost blew up, the
same thing happened in two thousand and eight, right before
Layman Brothers and the repot price went way up. Banks
don't want to lend to each other. Back then, it
was because of liquidity. There wasn't enough liquidity in the system,
and so the fat had to come in and put
liquidity into the overnight lending market so they could come
(40:05):
in and help keep the things moving well. This time,
over the last month or so, there has been somewhere
in the neighborhood of over two hundred billion dollars added
by the Federal Reserve into the overnight lending. Now that
is crisis level lending. That's that's right up there with
the Great Financial Crisis, Layman Brothers, COVID, all of these things.
(40:27):
This is the kind of money that the FED put in.
In normal times, the FED doesn't put any money in
if there's a little bit of stretch, maybe a billion
or two to put in two hundred billion, one hundred
and twenty five billion over three days about two weeks ago,
and then the last couple of days, including Thanksgiving night,
when the comex market blew up or froze. Interestingly enough,
(40:49):
about thirty or forty billion was put in. Now this
is all crisis level injections. What it is saying is
this that the banks and the hedge funds, who are
the players in this market, They're like, nah, no, I
don't trust you, and I don't trust your collateral. More
than anything, I don't trust your mortgage backed securities, whether
(41:11):
they be residential or commercial. I don't trust that they
will be solvent even tomorrow morning. So I am not
going to lend any money to you overnight. I'm just
going to keep it parked at the Federal reserve earning
the Federal funds rate with no risk. And when the
overnight lending market like this has this kind of problems
with massive injections coming in by the FED, that tell
(41:32):
exemplifies exactly what you're saying is that the commercial real
estate market is in very, very, very big trouble and
the banks who lent the money to these entities to
buy these massive buildings. Most commercial real estate loans are
what's called non recourse, meaning if you default on your mortgage,
(41:58):
that's there is recourse there. It can come after you.
But a corporation who has a you know, a three
hundred million dollars lease or whatever, just walks away, gives
them the keys. It's non recourse. Not much you can do.
And then you throw into it AI, which is kneecapping
business and the need for employees. So what do you
(42:21):
need these big monster buildings for. The commercial real estate
problem is just beginning, and the residential real estate market
problem is just beginning. And so you're right, it's something
to be very concerned about. But when I look at
a lack of trust, where there's twice the amount of
liquidity in the system today than there was in twenty nineteen,
it's not a liquidity problem. It's I don't trust you
(42:43):
or your collateral problem. And the majority of the collateral
being post are tied to mortgage backed securities commercial mortgage
back securities. It's just beginning, and I think it's it's
very smart that you say that. And if they have
to refinance at these higher levels, many of them will
just have to walk away. We saw that a couple
of years ago, like the biggest hotel in San Francisco,
(43:08):
where you know, during the pandemic there were there were
no and what's happened to that beautiful city, once beautiful city?
The trade show industry just collapsed from over there. They
just gave them the keys and walked away. The cost
of running the building was far greater than what they
were taking in and all of the equity they had
in it gone. Now that bank is holding that at
(43:30):
a massive loss, what do they do with it?
Speaker 3 (43:32):
Well, that's why that's why the small banks are at
risk too. They're saying that this is the highest risk
for small banks coming up there.
Speaker 5 (43:40):
The regional banks hold seventy percent of the commercial real
estate loans here, right, and.
Speaker 2 (43:44):
So it's all tied together.
Speaker 3 (43:45):
And what it's going to do is it's going to
accelerate consolidation into these large companies. It falls into the
lap of this globalist plan.
Speaker 5 (43:55):
Because that's right, And why would you want it in
a handful of banks, Because it's much easy Ye're to
implement a central bank digital currency scheme or stable coins
that are administered by just a handful of entities monitored
by the Federal Reserve, than having five thousand regional and
local banks. It's all very I mean, it's.
Speaker 2 (44:17):
Crazy, perfect storm of cre okay.
Speaker 5 (44:20):
Well, and this is why if you're going to say, well,
why talk about cold and silver and any of this,
it's because it's one of the only assets that not
only has no counterparty risk, no one's holding it on
your behalf. It's outside this digital prison wall, if you will,
one of the few things it is. Well.
Speaker 3 (44:37):
Okay, So twenty twenty five we saw about one point
one million layoffs.
Speaker 2 (44:42):
Which is the same as the peak of COVID twenty twenty.
Speaker 3 (44:48):
Which is scary, right, And you're not hearing that right
because it's I think it's too scary, so they're not
talking about it. But they're projected to do one point
one seven million layoffs in twenty twenty six, so it's
growing a little bit. This is the beginning of what
we're talking about, isn't it the It is, it's just
the beginning.
Speaker 2 (45:08):
It makes sense.
Speaker 3 (45:09):
It's the evidence of what we talked about at the
beginning of the show that the layoffs that we're seeing,
we saw those layoffs in twenty twenty.
Speaker 2 (45:17):
It was scary.
Speaker 3 (45:18):
Well we're at that this year. It's just people don't
realize that. And then next year it's going to be
a little bit worse. I mean, what is the best way.
Let's okay, because it's too scary, let's what is the
best way to protect ourselves. I know gold and silver
is doing amazing. I want to talk a little bit
about silver and why this is such an important thing
(45:42):
to do just to protect us in this very uncertain
time that's coming coming forward.
Speaker 5 (45:47):
Well, I can tell you that the US government just
classified at a critical mineral the European Union did in
Twine twenty three. China just followed suit and said we're
going to massively restrict exports largest exporters in the world.
They said every ounce that comes out of China now
will have to be permitted. Envision. It's a race, I think,
(46:09):
to accumulate real assets. And at the same time, we
are seeing such massive, massive, massive quantities of silver coming
into the Colmax market that I don't think people quite
really get just how big it is. We've seen. Let
(46:33):
me see if I can tell you how much how
much so pop up here the amount of silver that was,
by the way, it's up ninety six percent this year.
I'm talking about AI. The S and P five hundred
(46:54):
is up sixteen percent, and that's in the face of
the greatest tech boom ever, right in the AI boom.
So it's gone up almost six times this year. The
the gain in the S and P, it's just beginning.
But you look at the amount of silver that's come
(47:15):
into the COMEX, it's literally mind numbing and it's non stop.
Speaker 2 (47:21):
The supply. Do they have the supply?
Speaker 5 (47:24):
That's what I'm dumb. Yes, Comex says more than the LBMA.
In November, deliveries ended the month at nineteen point six
eight million ounces, and that's amazing considering November isn't a
scheduled delivery month. They also delivered one point two six
(47:45):
seven million ounces of gold. It's not a delivery month
for gold either in November you can take it, but
it's not a scheduled delivery month. I mean, so one
point three million ounces of gold at forty two hundred
dollars each do the MAS and and and almost twenty
million ounces of silver at roughly fifty bucks apiece, and
(48:05):
it's higher in that now, you know, a billion dollars whatever.
But so far in the first three days I didn't
see yesterday, but in the first three days of the
December contract, day one, seven, three hundred and thirty contracts
stood for delivery. That's thirty six point sixty five million
(48:28):
ounces worth more than two billion. That's day one on
the December contract. So I ask yourself, who who the
f is taking possession of this every single month. April
was the biggest we've seen so far.
Speaker 2 (48:42):
At eleven governments?
Speaker 5 (48:43):
Right, yeah, Well, I don't know is it is it
the US? Is it the treasury? Eleven corporate a.
Speaker 3 (48:50):
Big American fan, you know, not American big family trust
who knows numbers?
Speaker 5 (48:56):
Say the number eleven six and ninety two contracts in April.
That's you know, you're talking almost three and a half
billion worth of silver. Day two deliveries they had two
point thirty nine to seven million ounces of gold and
forty one five hundred and twenty five million ounces of silver.
(49:18):
I mean, multiply this out you're seeing, Billy. This is
just the first couple of days of the December contract. Monday,
and Tuesday, and I didn't see yesterday, but you know
they've already.
Speaker 3 (49:31):
It just keeps getting more, because every time I talked
to you for the last for years now, it's like,
oh my god, this is the most they've ever taken
in a decade. And every month it becomes more than
the month before.
Speaker 5 (49:44):
Well, and that all you need to know is this.
The people at this level don't do things just for
the hell of it, right, These people who have that
kind of money have the information that we'd all love
to have. They're and you know, I think doing thanks
too well. But think about that it is And how
many times since twenty twenty have I talked with you
about central banks buying? What has gold done since twenty twenty?
(50:06):
What has silver done since twenty that's interesting? Oh that's right,
it's gone way to hell up. And so do you
think the central banks did it just for the hell
of it or do they know what is coming? They
are the most well informed traders in the world, and
now you have these big traders here in New York
that are doing it, and they are the most well
(50:26):
informed and the most well funded traders on the planet.
Every single month we are seeing this and you know.
And that's why. Also when we are told the dollar
is only down nine percent this year, it's down against
the dollar index, it's down ninety six percent against silver
and sixty six percent against gold. In other words, we're
(50:47):
measuring it against the wrong measuring stick. And so yeah,
I think that the big money sees what's coming. And
that's why you own gold and silver. It's not to
become wealthy, it's to get out of the way of
what's coming.
Speaker 2 (50:59):
And in great is coming, so damn and I'm telling
people that you can't.
Speaker 3 (51:04):
We're not going to be able to stop the freight train,
but maybe we can redirect the tracks into a way
that's pro human.
Speaker 2 (51:10):
And part of this is to protect ourselves too.
Speaker 3 (51:13):
People can go to Sarah westl dot com, slash Miles Franklin,
fill out that form. They can get have access to
the private price list. They have many questions they have
and they can invest in somebody that you can trust.
Speaker 2 (51:27):
Invest with someone you can trust. And I can't stress
that enough.
Speaker 3 (51:31):
Too many people are getting screwed and they need to
work with somebody they can trust.
Speaker 5 (51:37):
I just did an interview with Dale Whitakery yesterday on
my website. I mean, I'm my YouTube channel. I know
you've had a mom before and it was crazy. People
should watch yours, watch mine. It's crazy when you talk
about getting screwed. And he named every single one of
the companies. It was it was a little eye opening,
and I said, I got to have that back on.
Speaker 3 (51:58):
I'm going to have well because I don't like to
name people because we are at risk.
Speaker 2 (52:03):
Am I already at risk? I've been used.
Speaker 5 (52:05):
I didn't name anyone. He did, Yeah, well I get it,
but again attacked for doing the right thing. So screw them,
all right, So when you do the right thing and
you're helping people, yeah, at that point you got nothing
to worry about. You've done the right thing and at
the end of the day, that's all that matters. You
have to be good with yourself. And that's why I've
(52:25):
tackled this, and on all of the shows i've done,
Yours included, I've never once mentioned the names. Even though
I talk with you about those names privately, I've never
mentioned he mentioned all of them. So that'll be out
in the next day.
Speaker 3 (52:37):
Well, and you know, some of the biggest names are
promoting these companies, and I just like I know they
don't know.
Speaker 2 (52:44):
They didn't do their due diligence.
Speaker 3 (52:45):
That's the part that I don't like. But too many
people are getting hurt where you have to start paying
attention to this.
Speaker 5 (52:52):
And I know it's interesting though he told me. Dale
said he sent emails to every single one of the
people that and Craig gets didn't hear anything from me.
Speaker 3 (53:01):
Well, I've heard from a couple that said they aren't
as big, they're not as big as some of the
other but they're middle size, and they they just think
that we're They just ignore it.
Speaker 2 (53:11):
I think they're making too much money so they don't
want to.
Speaker 5 (53:15):
Look and that makes them know better than the people
that are screwing them.
Speaker 2 (53:19):
I know, just saying the problem they.
Speaker 5 (53:22):
In a court of law. If you know, if if
if your husband or whatever, my wife, you knew that
they were going to go and shoot up a mall
or something, you just let it go by. You're just
as guilty as they are.
Speaker 3 (53:36):
Oh but you know what I mean, you're helping, you're
promoting you're worse almost in some well you're not doing it,
but you're blindly promoting it, and you're helping them screw people.
Speaker 2 (53:45):
You're an accomplished. You are so okay, well good, thank
you and.
Speaker 5 (53:52):
Thanks for being said You're the greatest. I will see
you soon. Thanks for coming on a little bit earlier
here with me today, and I hope you have a
wonderful rest of your day, and hope you had a
great Thanksgiving. And I'll see you back real soon.
Speaker 6 (54:20):
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Speaker 5 (03:10):
It's like the foreshadowing is ridiculous that they had one
recently about what would happen if the Internet went out?
What would happen if the Internet went out? You know,
I think these are all things that you have to wonder.
Are the people pulling the strings the ones that were
behind all of this? And I would say, to some
degree they are. That's the sad part. Look at all
(03:30):
the patents Bill Gates and Microsoft has on digital currency.
It's very concerning, and how Visa and MasterCard have embedded
themselves into this type of technology, and how Visa has
created a reverse cash ATM machine where like at the
(03:51):
Super Bowl last year, you walk in with a handful
of cash, there no one takes cash, You put your
money into an ATM machine and out pops a card
and that machine, actually they say, destroys the currency.
Speaker 2 (04:07):
Welcome to business game changers. I'm Sarah Westall.
Speaker 3 (04:10):
I have Andy Sheckman coming back for our Friday Night
Economic Review, and we're going to talk about the dangers
of AI. I know it's been talked about a lot,
but I'm not sure if it's been really talked about from.
Speaker 2 (04:24):
The standpoint of the economics behind it.
Speaker 3 (04:27):
And then we get into some of the more underreported,
very important headlines when it comes to the world financial
system and the economics in our country, what you may
not be hearing about. And you know, that's the takeaway
that I want you to take from today's discussion. Before
we get into that, I want to remind you you
(04:49):
should be investing in gold and silver just to protect
yourself with all the turmoil and instability that's coming. Even
a little bit can go a long way to protect yourself.
But be sure to do it with somebody that you
can trust. And that's why I've been working with Miles Franklin,
because they've been proven to be trustworthy.
Speaker 2 (05:09):
They haven't posed people over like so.
Speaker 3 (05:12):
Many other companies out there, and so you need to
work with somebody that you can trust. So go to
Sarah Westall dot com slash Miles Franklin. Fill out that form.
You can get access to the private price list, which
is not public, and you'll get the best prices in
the country and you will get service that is great
and you can trust them. So go to Sarah westl
(05:34):
dot com, slash Miles Franklin. Okay, here's my Friday Night
Economic Review with Andy Scheckman.
Speaker 2 (05:43):
Hi, Andy, welcome back to the program.
Speaker 5 (05:45):
Sarah, great to see you.
Speaker 3 (05:47):
Okay, I figured for this where we should talk about
all the hidden risks coming in.
Speaker 2 (05:53):
It's it's really bad. We just went through them.
Speaker 3 (05:57):
There are a lot of explosive financial economic risks that
people are not realizing because they're not being reported. What
is being reported are the risks that help the political parties.
Speaker 2 (06:09):
And hurt Trump or help Trump or whatever.
Speaker 3 (06:11):
But it doesn't really Nobody talks about the real issues really,
I mean, they're just.
Speaker 2 (06:19):
Not talking about them. So let's start with AI.
Speaker 3 (06:23):
The investment in AI in this country. What did I
say the total number was when we talked just in
this country, the percentage of investment in a fusty Yeah,
it's sixty four percent of VC dollars have been in
twenty twenty five.
Speaker 2 (06:40):
Went to AI. Globally it was fifty two percent.
Speaker 3 (06:44):
Is depending on who you look at and who's reporting,
But that's unheard of kind of investment dollars in a
single industry. And obviously there's going to be a bubble
that's going to pop. It's just not sustainable.
Speaker 2 (06:57):
What do you think how long do we have before that?
Speaker 3 (07:00):
I mean, we've got Project Genesis that's coming up and
they're gonna they're trying to reshape everything based on AI
and it will reshape everything. But the investment dollars are crazy.
Speaker 2 (07:13):
When do you think that will pop?
Speaker 5 (07:16):
Well, I mean it's it's not only is the technology
changing so fast that the investment is moving in pushing
the multiples two levels that no one in the right
mind would have ever even thought of back in the day. Uh,
And it's incredibly risky. Yeah, I mean it's the same
thing as the dot com bubble where everything flowed into
(07:39):
anything that was related to technology, and you know, on
a on on a on a bigger scale. You can
look at it from that standpoint. Sure that there's there's
a malinvestment, there's over investment, there is throwing caution to
the wind type of investment. But look at the bigger
picture as as what it's going to do. It's going
(08:01):
to not only is it going to depress wage growth
for sure and create layoffs, so we'll create a good
deal of efficiency for business owners, corporate owners, the big
behemoths at the expense of millions of jobs. And so
it's kind of a double edged sword. On one hand, yes,
(08:21):
you could argue that it's become irrational in terms of
the amount of investment going into it and the price
to earnings ratios on what it takes to own these
stocks where you're talking, you know, many years out in
terms of when you talk about you know, last I looked,
I don't even know what there were a few not
(08:44):
in Nvidia that Pallenteer was a couple one hundred to
one pe ratio. I don't remember what the number was,
but these are extremely, extremely stratospherically high numbers. And I
think that back in the day, it's important to realize
that people wouldn't invest in this industry, or any industry
for that matter, in stocks unless they were paying somewhere
(09:07):
or being valued at somewhere in the neighborhood of single
digit price to earnings ratios while paying a five, six
or seven percent dividend. You don't see any of that
in any of this stuff. It's very dangerous.
Speaker 3 (09:20):
Every does remind me of the dot com uh free
you know phase where people because I was in that,
I remember being in the middle of that, going why are.
Speaker 2 (09:29):
They investing in these companies?
Speaker 5 (09:32):
They are?
Speaker 2 (09:32):
It was joke kind of stuff, right. They were throwing
in at anything, and they were right.
Speaker 3 (09:39):
The Internet was going to fundamentally change the way the
world was operating, and it did. But they were investing
in anything that was Internet thinking that, and nobody understood
they weren't. They weren't doing the due diligence. It was
just a complete farce, right. Some some companies actually did
really pay off.
Speaker 2 (09:56):
Maybe that was the case.
Speaker 3 (09:58):
They said, Okay, we'll invest in ten one will really
make it big, the other ones won't, and.
Speaker 5 (10:03):
Who cares, which is pretty much what happened.
Speaker 2 (10:06):
It is what happened.
Speaker 3 (10:07):
But some of these companies that got investment dollars were
such a joke. And I think we're seeing the same pattern,
except I think it's on steroids.
Speaker 2 (10:15):
I think it's worse than.
Speaker 5 (10:16):
What we saw. Then, Yeah, it appears to be that
way when you're talking north as sixty percent of you know,
venture capital funds rolling into aire there, certainly I would
argue it's probably not being investigated the way that with discernment,
the way that they should have in terms or that
(10:37):
they should in terms of you know, investing your money
in sound projects. And look, you know, things change very
very rapidly. You're already beginning to see companies trying there.
Like Google just came out and said that they have
a chip that will challenge in videos chip. Google has
the Google Willow Protege, which is on them computing that supposedly,
(11:03):
and they will say this that it can do in
five minutes what the world's fastest supercomputers can do in
ten septillion years. It's like ten to the twenty fifth
piz I. It's crazy. So things are changing that fast.
At the same time, you have a lot of money
where these mining centers where they were mining for bitcoin
(11:25):
are now because of the having cycle in bitcoin and
because of the cost of energy, it's becoming uneconomical to
mine for bitcoin, and these huge data centers they're now
transitioning to AI. So you have so much pouring into
into you know, a small little field, you know. Yeah,
(11:51):
there'll be some winners, Yeah right, there'll be some winners.
There will also be some massive losers. I think it's
you'd be better off lookingto a to an area that
has a greater opportunity to profit with you know, more
realistic pe ratios and more realistic forms of return in
the form of dividend. So I'm not sure exactly where
(12:12):
that is, but I think at this point it would
be maybe not considered the most prudent move to jump
into the AI pray when you're seeing this kind of
volume going into willy nilly, into the industry.
Speaker 3 (12:25):
Well, I think probably the support structure for it is
probably a better bet right now. The electricity yeah yeah,
I mean whatever, but the faster chips are probably going
to be necessary because that reduces energy, right, I mean,
if you can get something that takes five minutes that
used to take years, that's going to reduce energy.
Speaker 5 (12:44):
Well, I think another be mandatory. Right. A bigger question
is how will it be disruptive to all of the
you know, the the infrastructure that relies upon computing when
you talk about, you know, anything alphanumeric and quantum computing
(13:06):
that is now becoming more of a reality. Yes, these
are prototype chips, but so what I mean you're you're
talking massive consequences of that type of technology to a
world that is moving increasingly digital. I personally am very
concerned about the AI revolution. I think it's it's the
(13:29):
genie's been let out of the bottle, for sure. But
you're talking thirty to fifty percent of entry level jobs
gone within the next three to five years. You're talking
many white collar jobs. My son was a before he
came to work for me, was an accountant at Price
Waterhouse getting paid eighty grand to analyze a balance sheet
of a real estate investment trust. AI can do it
(13:51):
in six seconds for free without having to pay that.
But that's going to you know. I was on a
show the other day and it was kind of like
a game show, kind of like Shark Tank and I
had to in a few minutes present why someone should
own gold. And there were three or four contestants, each
(14:11):
in their own field. The gentleman who owns this show
is a billionaire. He's blind attorney who's very successful, an entrepreneur,
and he started this program. They also have a AI
platform that they are rolling out that is is as
incredible as anything I have ever seen. And at the
(14:34):
end when he called up the AI number live so
everyone could witness it, and asked it to compare and
contrast using artificial intelligence, and compare and contrast it with
precious metals on how someone like myself as an executive
could find a better work life balance. And he talked
(14:56):
on the phone with this AI. It sounded kind of
like Alexa for five seven minutes and very deep and bang.
This thing just rattled stuff off. A guy was so
blown away by it. I can't even tell you to
the point where he said, you know, offline said see
you could you could make a thousand of yourselves and
you can sit on a boat in the Caribbean if
(15:17):
you'd like. I know. It answered questions so perfectly and
with such depth and articulate, and I mean, and you
start to think, what is this going to do to
the workforce? It will make It's a case shape economy
that we're heading into or already in, where the rich
will get richer, the poor will get poor, and this
(15:40):
maximum efficiency will come at the expense of millions of jobs.
And that's that's just the truth. And you can see
it's being fast tracked by the amount of money that's
being poured into the system.
Speaker 3 (15:50):
And I got to tell you, I'm really concerned because
I think this will be centuries of It'll affect the
human race for centuries, right, if we don't get our
shit together and not.
Speaker 5 (16:03):
Well, you aren't talking about universal basic income in one
world order. I mean, this is it in the respect
that everyone always said that. But if around the globe,
in any industrialized world, AI takes away from and robotics,
don't forget robotics. I mean, Elon is bringing out his
robot company next year. You're talking robotics that can disrupt
(16:24):
all the way up into you know, police force, into
dangerous jobs like working in you know, in in underneath
the subways or en sewers or mining capacity or I
mean the whole thing. It's dystopian, but it's it's real,
and I think people need to think about that.
Speaker 6 (16:44):
It is.
Speaker 3 (16:44):
And even like Elon wants to put out a thing
about it replacing judges because AI can be impartial and
you can get a result in six minutes from that objective.
Now this concerns me because whoever's behind it is who
we have to be concerned about. If tyranny is running
the judges, which is what we kind of have, we
(17:06):
have a broke I don't want to say we have
a broken justice system. We have a very corrupt, captured
justice system, and so we have tyranny behind it. And
so people who you can't even get discovery on things
that should just be automatic discovery because if you get discovery,
then it messes up their case because there's too many
things they want to hide. And so judges are paid
(17:28):
off or something because discovery should be open on a
lot of these cases and they're not allowing it. And
so we have a really captured, corrupt system. A very
objective AI could change that. The problem is if we
have a tyrannical AI, it would be it would be
worse than we have today, which is already pretty bad.
(17:50):
So you know, you look at what it could actually change.
I'm concerned because this is what we have. We have
people that understand human development and society and systems level stuff.
That's what we need to look at. It needs to
be a broad systems level look at what's going on.
Very few people are thinking in that direction, and we
(18:11):
don't have the people who are involved in politics and
designing human systems don't have the understanding, the engineering tech
understanding to understand.
Speaker 2 (18:22):
How it's being done.
Speaker 3 (18:23):
And then the people who are the scientists and engineers
that understand how it's being done don't have the human
side of it.
Speaker 2 (18:29):
They just don't think that way.
Speaker 3 (18:31):
And so we have very few people that are actually
equipped right now. And so what I'm saying is we
as a society, we're just not mature enough. I think
that the technology has bypassed.
Speaker 2 (18:43):
Human's ability to take it on. I'm very concerned.
Speaker 3 (18:48):
And when it comes to education, I think it will
cause children to not develop important, critical necessary skill sets
because it already has it has, and so whole generations
are going to be missed, like we can't utilize them
because they don't have the skill sets we need.
Speaker 5 (19:11):
Yeah, they just came out with the report saying that
sixty percent of the country has a literacy rate under
that of the sixth grade. This isn't helping things when
they are able to cheat their way through factfinding, critical thinking.
You know, the things that we had to do which
shaped this society for the last fifty years, you know,
(19:32):
where it wasn't just at your fingertips. You had to
think and to research and to dig and to spend time.
Of course it does. It's the pursuit of knowledge that
makes you smarter. It's not just it right there. And
they were saying that in the next several years, the
(19:54):
next wave of AI, the more advanced form of it,
will present a reac where it has the ability to
have all of the accumulated knowledge of every human being
that's ever lived. And so you're talking about everything at
your fingertips in terms of knowledge. Now, I guess in
(20:19):
the perfect world that could be great, but it also
I think presents the possibility to create a generation of
very lazy people who don't critically think for themselves. I
think that's eleantory havoc on the labor market, just freak
havoc on it.
Speaker 3 (20:38):
I think it's ineffable. And you know, I've been talking
to some people who are on the cutting edge of
finance and development in that way, and they're concerned that
their engineers aren't getting so much of that is automated.
They're concerned that they're going to have to force their
even thinking of doing this now, force their entry level
engineers to do things by scrap just so they can
(21:01):
learn the skills that they need because we don't have
the pipeline now for people who can actually manage this
stuff because it's all automated. But at least they're smart
enough to realize, Okay, we got to back out here
because we're not developing the pipeline that we need. And
I think that's going to happen in every industry if
(21:21):
we are. If we're just willing nilly running towards this
without actually taking a step back, going wait a minute, here,
we are really undermining humanity for centuries forever, maybe I
don't know, for cent if we don't get our shit
together now.
Speaker 5 (21:37):
This is the toothpaste is out of the tube type
of deal. This is forever, unless you know, we just
blow it all up and go back to handwritten notes
and stuff. This is just the very beginning of it.
And yeah, it should be concerning. It is concerning, and
you know, and it's a race right now in between
(21:58):
the United States and China for supremacy in the area.
But pretty soon everything will be robotics and AI. And
what does it mean for the whole world. What does
it mean for warfare? What does it mean for finance?
How about the Google Willow chip and quantum computing? What
does it mean for a world that is on your
(22:19):
cell phone? How about cracking and hacking into bank account
records and into cryptocurrency and into everything you know, A
company like as it is right now, a company like
JP Morgan spends over a billion dollars with a B
a year on it and security. How how big does
(22:41):
this get? At what point does it make it impossible
for the small business person to have any form of
digital records that are safe. The whole thing is just
you can let your mind go. But when you think
about a one world order where the world is living
on universal basic income, where you have the rich and
the poor because they're jobs out there for people to
make a living, this is where you get into that
(23:05):
dystopian type of Klaus Schwab you'll own nothing and rent
and be happy type of environment. And it's not. I mean,
you know, even if, as I've talked about a lot lately,
the ability to Trump to bring back manufacturing through getting
rid of the dollar reserve currency, debasing the dollar, and
let's just say he does how much of that will
be meecapped by robotics. You take a look at a
(23:28):
typical car assembly line. Used to be all people. Now
it's all robots and and on and on and on,
and it's becoming a reality. And while there are opportunities
on the investment side, it just as you were saying,
so much money is pouring in there, you don't know
where the value is and things are changing so fast that,
(23:50):
you know, what, what is groundbreaking today may not be tomorrow.
The bigger issue to me is what does it do
profoundly do to the economy at large, to the markets,
and just to life in the United States or in
any industrialized society. As AI becomes more and more and
(24:11):
more prevalent, at the same time, the culture the society
is moving into the digital surveillance state, with digital id
with stable coins, which in my mind are a central
bank digital currency masquerading as a stable coin, just issued
through third party entities, but monitored closely by by the FEDS,
(24:31):
by the government. You know, we're moving in that direction everything,
you know, sixty five percent of gen z say cash
is cringe, Like really, you can't hold cash?
Speaker 2 (24:44):
Cringe?
Speaker 5 (24:45):
God, yeah, I know. And That's the point, is that
we have a country that is illiterate. Sixty percent of
the country as a reading proficiency under that in the
sixth grade.
Speaker 3 (24:55):
My husband transit Sarah just and go ride the transit
just gor And that's you can see where the country's at.
Speaker 5 (25:06):
But it is, and it's it's it's we're broke. Household debt,
credit card debt, student debt, car debt, car car payment delinquencies.
They're all at record highs, you know. And so we're
in debt, we're uneducated, we don't make anything, and AI
(25:26):
is advancing at a rate that is is mind numbing.
It doesn't bode well for things unless there is a change.
And the change starts with understanding and bettering yourself at
this in terms of information.
Speaker 2 (25:40):
You know, and with this information war though, how do
you know?
Speaker 3 (25:45):
And this this is why I'm just really buckling down
and saying I'm getting more a lot more serious, guys,
because this is getting I got to be the adult
in the room, and you need to be. I can
tell you're the adult in the room. We have to say, okay,
we got to be the adult in the room because
if we're not, we're screwed. And we've got to be
more responsible on what we do because the information that's
(26:06):
out there. We're in the information war, and so much
of the information is so bad that it's driving people
in ways that are not helping people. And after we
live through COVID and after we've seen some of this
tyranny at a very scary level, it's I don't want
these people behind this, you know. That's why I'm saying
(26:27):
it is beyond important for people to step up and
get more serious and realize that although it's fun to
do creative kind of stuff that doesn't matter and gets
the clicks, we got to be more serious because this
is this is writing. It's like lemmings following each other
off the cliff.
Speaker 5 (26:46):
Yeah, well, that's that's the herd mentality. And that's why
so few people don't fall off the cliff, because they're
the ones that act independently, like yourself, like myself, who
say things that most people would think they're crazy. Yet
those that are open minded, you know the difference between
to me, that there's between being smart and being intelligent.
If I were going to make kind of just a generalization,
(27:08):
you know, you can say that someone who's very intelligent
is very well read, maybe reads the wrong stuff. But
to me, someone who's smart doesn't really need to be
overly intelligent, but they need to be able to understand
that the world is very dynamic and that things change
(27:28):
and they have the ability to change their opinion. And
that's the difference in my mind, between someone who's intelligent
someone who's smart. If you're smart, you can have an
opinion on the world, but be presented with facts that
make you say, hmm, maybe I ought to rethink that,
and are able to do so. You see a lot
of people like in our home state, aren't my old
(27:49):
home state and yours of Minnesota, And I wonder what
the hell they're thinking, Like, how could they even begin
to think of of re electing Governor Wallas with all
of the things that are happening. And yet these people,
many of them are very intelligent, they're just not smart.
They're not able to look past their disdain for the
Republican Party or for President Trump and to their own detriment.
Speaker 3 (28:11):
Well, yeah, because the economic reports came that Minnesota is
one of the lowest now on from an economy standpoint, we're.
Speaker 2 (28:19):
Absolutely going in. It's kind of like Detroit. You know,
I mean we're going into the gutter.
Speaker 5 (28:24):
Well, how about the hundreds of billions of dollars that
have been funneled to over a billion to Mogadusho, many
of which to al Shabab or whatever it's called, a
terrorist group that wants to end America. So I mean,
the whole thing. And yet this guy gets a pass
and there will be people that will still vote for him.
My point is, now that's diverging from what we're talking about,
(28:46):
but it's the point that you have to be able
to understand the world is very fluid and changing very fast,
and that you have to be able to look at
it and say, yeah, maybe it's time that I look
at things a little bit differently. Maybe it's times For example,
you know, if you've got kids that are going to college,
you need to sit them down and say, no, you're
not going to study that or that or that. It's
(29:07):
a dead end. How about you you position yourself into
a field of study that would if this plays out,
if we see AI like it's projected to be as
disruptive as it is, find a area of study where
you can implement artificial intelligence robotics that kind of stuff
into your studies so you can come out of school
(29:30):
with the ability to make a living and make a difference.
Otherwise you're just wasting time, wasting money, and screwing yourself
for the rest of your life. And that is the truth.
I've had this conversation where my daughters were in tears.
I said, I don't care what you want to take.
It's sad, but this is the truth. You want to
come out of school after four years at you know,
Penn State University and work at a Starbucks, Well, that's
(29:51):
up to you. Or do you want to find something
that the world is moving in this direction? Now? Smart? Intelligent,
and no, I don't care. This is my passion. I'm
going to follow it great. Well, see where that takes you. Smart,
You're right, You're right. I darn it. I'm still going
to learn about this, but I'm going to find a
way to implement these changes, these changing dynamics into my narrative.
(30:16):
You have to do that. You have to be able
to say I'm wrong, and a lot of people can't
do that.
Speaker 3 (30:20):
But well, my daughter is you know, went to Penn
State and then she transferred to the University of Minnesota.
During COVID, and I said, you've got to have the stem.
You have to have something like you just said, AI robotics.
But back then it was more just something in this field,
and then you can translate that into whatever you want later.
(30:40):
But yeah, this is where the entire world is going,
and you have the brain for it, so frickin do
it and then translate it into whatever the heck you want. Yes,
and later though, now that they're older and have jobs,
they're like you, they are so happy that they went
into that. Now they want to translate it into what
they want to do. But they're really that they were
(31:00):
able because so many of their friends are not getting jobs,
or they have full time jobs and they're still dependent
on their parents.
Speaker 5 (31:08):
Or they're miserable too. Yes, and you know your daughter's
age group, the gen Z population is the highest level
of unemployed in America. So they can't get a job.
They're in debt, they have student debt, many of their
degrees are more or less worthless in this new world. Yeah.
(31:31):
I think these are the kind of things that are
very important to discuss and to think about you as
you move forward. You have a friend who's a periodonist.
I said, well, at least your field is safe, he said,
I don't know about that. There are robots coming out
right now that do all of it for you. In fact,
he says, I have one that places the crown or
the new tooth exactly where it's supposed to be, So
(31:54):
it's like better than I can. Every single field is
being is being disrupted. Just about every field is being
disruptive and disrupted. So it's a big deal. It's a
big deal. I think when you look at the amount
of money that's going into it, it shows the emphasis
on this. It's going to expand. It's going to be
(32:16):
as relevant as the Internet was. You know, when I
started Miles Franklin, there was no Internet. I remember thinking,
who the hell would want to use a cell phone?
I remember seeing a guy at a Chinese restaurant in Minneapolis.
Is at the Yang Sea restaurant in Saint Louis Park.
I'll never forget it. I was in high school then,
maybe or a nineteen eighty nine, just graduated high school.
(32:37):
The guy's got a phone the size of a shoe
up to his ear, came in a big box and everything,
and I remember saying, who would after that? Who would
want to use text or email? Why not just call it?
I mean all of the things that either you roll
with the changes or you get rolled by them. And
(32:57):
you know, now, look at how prevalent thet is to
everyday use, whether it be you know, smart apps in
your house, your bank information, you know, your your credit cards,
your everything you do. Everything is on the Internet. And
it's just as profound as that has been. This will
(33:18):
even be I think, far more pure and it helps
usher in also the digital surveillance state where everything is digital,
including your money. And this brings in a whole nother discussion,
but yeah, we're moving into that direction, no question about it.
Speaker 3 (33:37):
Well, I think the disturbing thing for me is who's
behind all this? If we had people who I trusted
or we could trust, and we had some kind of
way to filter them out that they're not psychopaths and
they're not trying to just control us like what we
just saw with COVID. I don't want those people behind
these systems. I mean, we can't afford that, and I
(33:59):
think that's what is a scary part.
Speaker 5 (34:02):
Look at Microsoft, how deeply entrenched they are in this
chat EPT and their new systems. I mean, you know,
is Bill Gates involved in was he did he have
anything to do with what happened with the COVID vaccines
and whatnot? I mean, you know, think about the the
w A. Who was it the the group that had
(34:25):
the the pandemic stimulation right before the pandemic.
Speaker 2 (34:32):
And yeah, yeah, yeah, wasn't.
Speaker 5 (34:35):
The the it was the Klaus Schwab group. What yes,
And they simulated what it would be like in a
pandemic and they actually used a coronavirus of some form.
It's like the foreshadowing is ridiculous that they had one
recently about what would happen if the Internet went out?
(34:55):
What would happen if the Internet went out? You know,
I think these are all things that you have to
wonder are the people pulling the strings the ones that
were behind all of this? And I would say to
some degree they are. That's the sad part. Look at
all the patents Bill Gates and Microsoft has on digital currency.
(35:18):
It's very concerning, and how Visa and MasterCard have embedded
themselves into this type of technology, and how Visa has
created as a reverse cash ATM machine, where like at
the Super Bowl last year, you walk in with a
handful of cash. There no one takes cash. You put
(35:39):
your money into an ATM machine and out pops a card,
and that machine, actually they say, destroys the currency that
has the capability to write down the seal, to take
note of the serial numbers on the bills and get
rid of it altogether and then give the person a
(35:59):
digital card. And everything is moving in the way of this,
and I think bettering yourself through understanding it and finding
ways to integrate yourself into the system as advantageous as
it can be for you, is important. One of the
reasons to own physical gold and silver is it is
(36:21):
outside that system for as long as you want, until
you bring it back into the system and liquidated at
that point have to be paid in digital dollars or
whatever it is. But we are moving in that direction
well stable coin based system.
Speaker 2 (36:35):
But that's why golden silver is increasing. I want to
talk before we end this.
Speaker 3 (36:39):
I want to talk about a couple other things that
people don't realize. Our threats that are happening. We have
commercial real estate crisis has been that you know, the
can has been kicked down the road with that, and
we have one point five trillion dollars in commercial mortgages
that are needing to be reset. We also have the businesses.
(37:03):
It's kind of tied to the same thing. The businesses
that were stuck in are set, not stuck.
Speaker 2 (37:08):
They were happy to be in.
Speaker 3 (37:09):
Loans that were two to three percent are now all
needing to be reset as well. You can't reset these
mortgages and these loan rates at six seven percent when
they were two to three percent before and expect these
businesses and these commercial loans and all.
Speaker 2 (37:26):
These people to be able to make it. I mean,
it's just just going to happen.
Speaker 5 (37:31):
This is why we're seeing problems in the repo market. Again.
The repo market is the overnight lending mechanism between banks
and hedge funds, and normally you don't hear about it.
That means the plumbing of the system is working well. Literally,
they borrow from one another, lend to one another overnight,
(37:54):
and to balance balance sheets. Let's just pretend. Let's use
the state of Minnesota, which has a lot of fortune
in one hundred companies. Let's say US Bank, who is
a Minnesota bank, has payroll obligations to three m General Mills,
Best Buy, Target, Medtronic, and Boston Scientific. You know those
six companies alone, their payrolls are into the hundreds and
(38:16):
hundreds of millions of dollars, if not more, and they
all come on the first of the month, and Bank
of America or a US bank is just a little
bit short. In order to fulfill those obligations, they would
borrow money from another bank in the system, like let's
say Bank of America or Wells Fargo or JP Morgan,
(38:37):
and they would give them collateral repostands for repurchase. So
typically they use US treasuries. If not, they're going to
use mortgage backed securities. And there's been a lot more
mortgage backed securities posted as collateral than treasuries lately. Is
there's a little bit of a shortage I guess of
treasurers in that space, and we've seen some very big
(38:59):
problems recently. Let me explain this is all about commercial
real estate. So typically these banks will, no questions, ask
for a very small percentage, like maybe a half of
one percent annualized, so it's tiny, tiny percentage, but huge
amounts of money. They will exchange treasuries or mortgage back
(39:20):
securities for cash and then agree to buy it back
the next morning at a slightly higher price, and when
that is flowing, everything works great. Right now, what we
see it's like you turn the water on in your
house and you hear thumping in the walls. You know
something isn't flowing right, no matter what thoughts that you
turned on. So basically, if we go back to twenty
nineteen when the repo market went to ten percent interest
(39:44):
rates overnight and the whole thing almost blew up, the
same thing happened in two thousand and eight, right before
Layman Brothers and the repot price went way up. Banks
don't want to lend to each other. Back then, it
was because of liquidity. There wasn't enough liquidity in the system,
and so the fat had to come in and put
liquidity into the overnight lending market so they could come
(40:05):
in and help keep the things moving well. This time,
over the last month or so, there has been somewhere
in the neighborhood of over two hundred billion dollars added
by the Federal Reserve into the overnight lending. Now that
is crisis level lending. That's that's right up there with
the Great Financial Crisis, Layman Brothers, COVID, all of these things.
(40:27):
This is the kind of money that the FED put in.
In normal times, the FED doesn't put any money in
if there's a little bit of stretch, maybe a billion
or two to put in two hundred billion, one hundred
and twenty five billion over three days about two weeks ago,
and then the last couple of days, including Thanksgiving night,
when the comex market blew up or froze. Interestingly enough,
(40:49):
about thirty or forty billion was put in. Now this
is all crisis level injections. What it is saying is
this that the banks and the hedge funds, who are
the players in this market, They're like, nah, no, I
don't trust you, and I don't trust your collateral. More
than anything, I don't trust your mortgage backed securities, whether
(41:11):
they be residential or commercial. I don't trust that they
will be solvent even tomorrow morning. So I am not
going to lend any money to you overnight. I'm just
going to keep it parked at the Federal reserve earning
the Federal funds rate with no risk. And when the
overnight lending market like this has this kind of problems
with massive injections coming in by the FED, that tell
(41:32):
exemplifies exactly what you're saying is that the commercial real
estate market is in very, very, very big trouble and
the banks who lent the money to these entities to
buy these massive buildings. Most commercial real estate loans are
what's called non recourse, meaning if you default on your mortgage,
(41:58):
that's there is recourse there. It can come after you.
But a corporation who has a you know, a three
hundred million dollars lease or whatever, just walks away, gives
them the keys. It's non recourse. Not much you can do.
And then you throw into it AI, which is kneecapping
business and the need for employees. So what do you
(42:21):
need these big monster buildings for. The commercial real estate
problem is just beginning, and the residential real estate market
problem is just beginning. And so you're right, it's something
to be very concerned about. But when I look at
a lack of trust, where there's twice the amount of
liquidity in the system today than there was in twenty nineteen,
it's not a liquidity problem. It's I don't trust you
(42:43):
or your collateral problem. And the majority of the collateral
being post are tied to mortgage backed securities commercial mortgage
back securities. It's just beginning, and I think it's it's
very smart that you say that. And if they have
to refinance at these higher levels, many of them will
just have to walk away. We saw that a couple
of years ago, like the biggest hotel in San Francisco,
(43:08):
where you know, during the pandemic there were there were
no and what's happened to that beautiful city, once beautiful city?
The trade show industry just collapsed from over there. They
just gave them the keys and walked away. The cost
of running the building was far greater than what they
were taking in and all of the equity they had
in it gone. Now that bank is holding that at
(43:30):
a massive loss, what do they do with it?
Speaker 3 (43:32):
Well, that's why that's why the small banks are at
risk too. They're saying that this is the highest risk
for small banks coming up there.
Speaker 5 (43:40):
The regional banks hold seventy percent of the commercial real
estate loans here, right, and.
Speaker 2 (43:44):
So it's all tied together.
Speaker 3 (43:45):
And what it's going to do is it's going to
accelerate consolidation into these large companies. It falls into the
lap of this globalist plan.
Speaker 5 (43:55):
Because that's right, And why would you want it in
a handful of banks, Because it's much easy Ye're to
implement a central bank digital currency scheme or stable coins
that are administered by just a handful of entities monitored
by the Federal Reserve, than having five thousand regional and
local banks. It's all very I mean, it's.
Speaker 2 (44:17):
Crazy, perfect storm of cre okay.
Speaker 5 (44:20):
Well, and this is why if you're going to say, well,
why talk about cold and silver and any of this,
it's because it's one of the only assets that not
only has no counterparty risk, no one's holding it on
your behalf. It's outside this digital prison wall, if you will,
one of the few things it is. Well.
Speaker 3 (44:37):
Okay, So twenty twenty five we saw about one point
one million layoffs.
Speaker 2 (44:42):
Which is the same as the peak of COVID twenty twenty.
Speaker 3 (44:48):
Which is scary, right, And you're not hearing that right
because it's I think it's too scary, so they're not
talking about it. But they're projected to do one point
one seven million layoffs in twenty twenty six, so it's
growing a little bit. This is the beginning of what
we're talking about, isn't it the It is, it's just
the beginning.
Speaker 2 (45:08):
It makes sense.
Speaker 3 (45:09):
It's the evidence of what we talked about at the
beginning of the show that the layoffs that we're seeing,
we saw those layoffs in twenty twenty.
Speaker 2 (45:17):
It was scary.
Speaker 3 (45:18):
Well we're at that this year. It's just people don't
realize that. And then next year it's going to be
a little bit worse. I mean, what is the best way.
Let's okay, because it's too scary, let's what is the
best way to protect ourselves. I know gold and silver
is doing amazing. I want to talk a little bit
about silver and why this is such an important thing
(45:42):
to do just to protect us in this very uncertain
time that's coming coming forward.
Speaker 5 (45:47):
Well, I can tell you that the US government just
classified at a critical mineral the European Union did in
Twine twenty three. China just followed suit and said we're
going to massively restrict exports largest exporters in the world.
They said every ounce that comes out of China now
will have to be permitted. Envision. It's a race, I think,
(46:09):
to accumulate real assets. And at the same time, we
are seeing such massive, massive, massive quantities of silver coming
into the Colmax market that I don't think people quite
really get just how big it is. We've seen. Let
(46:33):
me see if I can tell you how much how
much so pop up here the amount of silver that was,
by the way, it's up ninety six percent this year.
I'm talking about AI. The S and P five hundred
(46:54):
is up sixteen percent, and that's in the face of
the greatest tech boom ever, right in the AI boom.
So it's gone up almost six times this year. The
the gain in the S and P, it's just beginning.
But you look at the amount of silver that's come
(47:15):
into the COMEX, it's literally mind numbing and it's non stop.
Speaker 2 (47:21):
The supply. Do they have the supply?
Speaker 5 (47:24):
That's what I'm dumb. Yes, Comex says more than the LBMA.
In November, deliveries ended the month at nineteen point six
eight million ounces, and that's amazing considering November isn't a
scheduled delivery month. They also delivered one point two six
(47:45):
seven million ounces of gold. It's not a delivery month
for gold either in November you can take it, but
it's not a scheduled delivery month. I mean, so one
point three million ounces of gold at forty two hundred
dollars each do the MAS and and and almost twenty
million ounces of silver at roughly fifty bucks apiece, and
(48:05):
it's higher in that now, you know, a billion dollars whatever.
But so far in the first three days I didn't
see yesterday, but in the first three days of the
December contract, day one, seven, three hundred and thirty contracts
stood for delivery. That's thirty six point sixty five million
(48:28):
ounces worth more than two billion. That's day one on
the December contract. So I ask yourself, who who the
f is taking possession of this every single month. April
was the biggest we've seen so far.
Speaker 2 (48:42):
At eleven governments?
Speaker 5 (48:43):
Right, yeah, Well, I don't know is it is it
the US? Is it the treasury? Eleven corporate a.
Speaker 3 (48:50):
Big American fan, you know, not American big family trust
who knows numbers?
Speaker 5 (48:56):
Say the number eleven six and ninety two contracts in April.
That's you know, you're talking almost three and a half
billion worth of silver. Day two deliveries they had two
point thirty nine to seven million ounces of gold and
forty one five hundred and twenty five million ounces of silver.
(49:18):
I mean, multiply this out you're seeing, Billy. This is
just the first couple of days of the December contract. Monday,
and Tuesday, and I didn't see yesterday, but you know
they've already.
Speaker 3 (49:31):
It just keeps getting more, because every time I talked
to you for the last for years now, it's like,
oh my god, this is the most they've ever taken
in a decade. And every month it becomes more than
the month before.
Speaker 5 (49:44):
Well, and that all you need to know is this.
The people at this level don't do things just for
the hell of it, right, These people who have that
kind of money have the information that we'd all love
to have. They're and you know, I think doing thanks
too well. But think about that it is And how
many times since twenty twenty have I talked with you
about central banks buying? What has gold done since twenty twenty?
(50:06):
What has silver done since twenty that's interesting? Oh that's right,
it's gone way to hell up. And so do you
think the central banks did it just for the hell
of it or do they know what is coming? They
are the most well informed traders in the world, and
now you have these big traders here in New York
that are doing it, and they are the most well
(50:26):
informed and the most well funded traders on the planet.
Every single month we are seeing this and you know.
And that's why. Also when we are told the dollar
is only down nine percent this year, it's down against
the dollar index, it's down ninety six percent against silver
and sixty six percent against gold. In other words, we're
(50:47):
measuring it against the wrong measuring stick. And so yeah,
I think that the big money sees what's coming. And
that's why you own gold and silver. It's not to
become wealthy, it's to get out of the way of
what's coming.
Speaker 2 (50:59):
And in great is coming, so damn and I'm telling
people that you can't.
Speaker 3 (51:04):
We're not going to be able to stop the freight train,
but maybe we can redirect the tracks into a way
that's pro human.
Speaker 2 (51:10):
And part of this is to protect ourselves too.
Speaker 3 (51:13):
People can go to Sarah westl dot com, slash Miles Franklin,
fill out that form. They can get have access to
the private price list. They have many questions they have
and they can invest in somebody that you can trust.
Speaker 2 (51:27):
Invest with someone you can trust. And I can't stress
that enough.
Speaker 3 (51:31):
Too many people are getting screwed and they need to
work with somebody they can trust.
Speaker 5 (51:37):
I just did an interview with Dale Whitakery yesterday on
my website. I mean, I'm my YouTube channel. I know
you've had a mom before and it was crazy. People
should watch yours, watch mine. It's crazy when you talk
about getting screwed. And he named every single one of
the companies. It was it was a little eye opening,
and I said, I got to have that back on.
Speaker 3 (51:58):
I'm going to have well because I don't like to
name people because we are at risk.
Speaker 2 (52:03):
Am I already at risk? I've been used.
Speaker 5 (52:05):
I didn't name anyone. He did, Yeah, well I get it,
but again attacked for doing the right thing. So screw them,
all right, So when you do the right thing and
you're helping people, yeah, at that point you got nothing
to worry about. You've done the right thing and at
the end of the day, that's all that matters. You
have to be good with yourself. And that's why I've
(52:25):
tackled this, and on all of the shows i've done,
Yours included, I've never once mentioned the names. Even though
I talk with you about those names privately, I've never
mentioned he mentioned all of them. So that'll be out
in the next day.
Speaker 3 (52:37):
Well, and you know, some of the biggest names are
promoting these companies, and I just like I know they
don't know.
Speaker 2 (52:44):
They didn't do their due diligence.
Speaker 3 (52:45):
That's the part that I don't like. But too many
people are getting hurt where you have to start paying
attention to this.
Speaker 5 (52:52):
And I know it's interesting though he told me. Dale
said he sent emails to every single one of the
people that and Craig gets didn't hear anything from me.
Speaker 3 (53:01):
Well, I've heard from a couple that said they aren't
as big, they're not as big as some of the
other but they're middle size, and they they just think
that we're They just ignore it.
Speaker 2 (53:11):
I think they're making too much money so they don't
want to.
Speaker 5 (53:15):
Look and that makes them know better than the people
that are screwing them.
Speaker 2 (53:19):
I know, just saying the problem they.
Speaker 5 (53:22):
In a court of law. If you know, if if
if your husband or whatever, my wife, you knew that
they were going to go and shoot up a mall
or something, you just let it go by. You're just
as guilty as they are.
Speaker 3 (53:36):
Oh but you know what I mean, you're helping, you're
promoting you're worse almost in some well you're not doing it,
but you're blindly promoting it, and you're helping them screw people.
Speaker 2 (53:45):
You're an accomplished. You are so okay, well good, thank
you and.
Speaker 5 (53:52):
Thanks for being said You're the greatest. I will see
you soon. Thanks for coming on a little bit earlier
here with me today, and I hope you have a
wonderful rest of your day, and hope you had a
great Thanksgiving. And I'll see you back real soon.
Speaker 6 (54:20):
This message comes from alter x Data. Scattered tech stacks
are disjointed, teams are out of sync. Alterix one brings
it all together on a single platform where data, analytics
and automation move as one, so your organization can too
meet the intelligent enterprise at alterx dot com.
Speaker 1 (54:39):
Hi, everybody, it's me sind A. Relax. You are listening
to the Fringe Radio Network. I know I was gonna
tell them, Hey, do you have the app? It's the
best way to listen to the Fringe Radio Network. It's
safe and you don't have to log in to use it,
and it doesn't track you, trace you, and it sounds beautiful.
Speaker 2 (55:03):
I know I was gonna tell him.
Speaker 1 (55:05):
How do you get the app? Just go to Fringe
radionetwork dot com right at the top of the page.
I know, slippers, we gotta keep cleaning these chimneys,
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