Little Guy Being Set Up for a Big Fall? with Andy Schectman - Sarah Westall

Andy Schectman of Miles Franklin returns to the Friday Night Economic Review to break down the seismic moves unfolding on the COMEX—shifts that may help explain why President Trump imposed a 39% tariff on gold from Switzerland, the world’s largest refiner, responsible for processing 70% of global supply. We also dive into the sweeping realignment in global finance now underway—and how these changes could impact every one of us.

Episode Transcript

Speaker 1 (00:04):
Hi, everybody, It's me Cinderoa Acts.

Speaker 2 (00:07):
I'm just listening to the Fringe Radio Network while I
clean these chimneys with my cass livers.

Speaker 1 (00:16):
Anyway, so Chad White, the fringe cowboy, I mean, he's
like he took.

Speaker 3 (00:22):
A leave of absence or whatever, and.

Speaker 2 (00:25):
So the guys asked me to do the network. I
D So you're listening to the Fringe Radio Network. I know,
I was gonna say it, Fringe Radio Network dot com?

Speaker 1 (00:40):
What oh chat?

Speaker 3 (00:42):
Oh yeah?

Speaker 1 (00:43):
Do you have the app?

Speaker 3 (00:44):
It's the best way to listen to the Fringe Radio Network.

Speaker 1 (00:48):
I mean it's so great. I mean it's.

Speaker 3 (00:50):
Clean and simple, and you have all the shows, all.

Speaker 2 (00:54):
The episodes, and you have the live chat, and it's
it's safe and it won't hurt your phone and it
sounds beautiful and it won't track you or trace you
and you don't have to log in to use it.
How do you get it fringeradionetwork dot com right at
the top of the page. So anyway, so we're just

(01:17):
gonna go back to cleaning these chimneys and listening to
the Fringe Radio Network. And so I guess you know,
I mean, I guess we're listening together, So I mean,
I know, I mean well, I mean, I guess you
might be listening to.

Speaker 3 (01:31):
A different episode or whatever, or or maybe maybe you're.

Speaker 2 (01:35):
Listening maybe you're listening to it, like at a different
time than we are. But I mean, well, I mean,
if you accidentally just downloaded this.

Speaker 1 (01:46):
No, I guess you'd be Okay, I'm rambling.

Speaker 2 (01:50):
Okay, Okay, you're listening to the Fringe Radio network Fringe
radionetwork dot com.

Speaker 1 (01:57):
There are you happy?

Speaker 3 (02:00):
Okay, let's clean these chimneys.

Speaker 4 (02:25):
Like.

Speaker 5 (02:25):
I don't think they want to be the world reserve
currency anymore. I really don't. And I think the moves
that they are making are speaking to that. I think
that they want to destroy the dollar. I really do
believe that, and I think I know how they're going
to do it. I think they're doing that specifically to
maintain the ability to support the bond market. And if
there is nobility, And again, I'm trying to find a

(02:46):
glimmer of positivity in all of the stupidity around us.

Speaker 4 (02:50):
And again I'm a Trump supporter.

Speaker 6 (02:52):
Quick break from the program to share with through something amazing.
This is called sloop. It's actually slupp DESH three three two,
but it's been shortened to sloop and this thing mimics exercise.
It seems too good to be true. I first shared
this on my substack and I had doctor Diane Kaser
and we went through all the benefits of this, and
the whole thing sold out. You can't get it anywhere

(03:14):
really across the industry, and the people who are using
it the most are athletes and bodybuilders and people who
want to see extra performance in athletics because this in
preclinical studies with mice increased their endurance by seventy percent
in their distance by forty five percent. I mean, it's incredible,
and it's been shown to mimic exercise even when you're

(03:35):
at rest. In preclinical studies with obese mice, they lost
upwards of twelve percent of their body weight in four
weeks and it increased muscle. So this is really taking
the industry by storm. It's actually not that expensive either.
With my ten percent coupon, it's about eighty dollars for
maybe a two month supply if you take one capsule

(03:58):
a day. If you decide up it to two capsules
a day, because your dosage depends on what you want.
Then it's a one month supply, but doctor Diane recommends
doing one capsule a day until your body gets used
to it. You might not see the same level of
results right away that the mice did, but your body
can get used to it and see if it's something

(04:18):
that you really want to do. If you are interested
in this, I will have a link below so you
can try it yourself or go to Sarah wessel dot
com undershop. Remember to use the code Sarah to save
ten percent. Welcome to Business game Changers. This is a
Sarah Westall another Friday Night economic review with Andy Sheckman.
We're going to be talking about a lot of important

(04:38):
topics from the Bureau of Labor Statistics. Why it was
so corrupt, why Trump fired the head. I mean, I
think that's more symbolic, but the corruption has been going
on for quite some time, but it just came to
a head just recently. And we also are talking about
the stock market. My gosh, you're going to hear that
the big institutions are buying and getting delivery of gold

(05:03):
less than one percent of the time. They would stand
for delivery now one hundred percent. It's a ninety nine
percent swing. Meanwhile, while the big institutions are moving towards
that the average person is moving towards the stock market,
where we're seeing fifty four percent of the market being
by regular people. The fear that I have is people

(05:25):
are just I mean, this is a setup to be
really hosed over. So before we get into this really
good Friday night talk that I have with Andy, I
want to remind you that you're going to feel that
it is important to go get gold and silver as
an investment option if you haven't already, and I highly
recommend that you buy from someone that you can trust

(05:48):
at margins that give you the most amount of gold
and silver for the money that you're investing. Okay, A,
you can trust Miles Franklin, and B you can trust
that you're also getting the most that you can for
what you're investing. And because you're not buying crap, you're
more likely for it to be easily resold in the marketplace,

(06:11):
so it's more liquid. Okay. I will have the length below. Otherwise,
go to Sarah Westall dot com slash Miles Franklin. Fill
out that form. You will get the current price list,
which is better than what they publish and if you're
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(06:33):
there's a lot of you out there, and there's a
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Look at your IRA, make sure you haven't been scammed,
because there's going to be a point where it might
matter to you. And if it doesn't matter, it's just
an investment that you pull in on leaving to your family.

(06:55):
You want to make sure you maximize what you leave
to them. Okay, Sarah Westall dot com, slash Miles Franklin.
Let's get into my talk with Andy Shepman. Hi, Andy,
welcome back to the program.

Speaker 4 (07:08):
There. It's great to be here. Good to see you.

Speaker 6 (07:11):
Well, we got our week. Yeah, well, you know it's
our weekly Friday night. You're here most of the time.
We have some major developments in the economic market. I'm
going to just go through some of these major points
that I wanted to get your opinion on. Okay, let's
talk about the job market. It looks like the Bureau

(07:32):
of Labor Statistics, this is what they're saying now is
that they artificially pumped it up during the campaign, during
the Biden administration and make it look stronger than it was,
create an illusion, and now they're decreasing it to make
Trump look bad. That's what the narrative is, and getting
it back to what the truth really is, even though

(07:54):
they artificially inflated it before to make you know, so
it's been just an illusion the whole time. So it's
not really decreasing. It just never increased, that's what they're saying.
And then Trump got mad and fired that of the bureau.
Can you talk to that and what you've found.

Speaker 5 (08:14):
Yeah, Well, first of all, when we talk about the
numbers that come out of the BLS, I think we
should pull pull the l right out of the BLS
and call it what it is.

Speaker 4 (08:28):
It's bullshit.

Speaker 5 (08:30):
The numbers that come out of the BLS, namely in
inflation and unemployment, are completely and totally distorted. And I think, like,
for example, take the CPI data. If true inflation Sarah
was reported, then there's no way anyone would buy a

(08:50):
long term US bond at four or five percent. However,
you can convince the market or the people that inflation
is just two percent, then on a five percent bond,
a three percent inflation adjusted return doesn't look so bad.

Speaker 4 (09:06):
But the thing is that the.

Speaker 5 (09:07):
Cp LIE excludes food and energy and housing. They have
something that they call hedonics, I believe, or it's replacing
things that become too expensive. A steak is too expensive, well,
you won't need it, you'll replace They'll replace it with
ground beef. Last April, coffee was up eighty five percent,
so they replace it, I think with eat so because
it's too expensive, so people won't drink their coffee or

(09:29):
eat that steak, they'll they'll do it other ways. The
CPI doesn't include maybe the most the highest financial burden
on all of us, and.

Speaker 4 (09:38):
That's taxes, which seem to always go higher.

Speaker 5 (09:42):
When we talk about the jobs report, the downward revisions
is a scalem again. And so yes, the numbers that
came out the other day were seventy three less than
than had been forecast, but that wasn't the problem. The

(10:05):
damage that was done and by the way that the
jobless rate did rise to four point two percent, right,
And I want to say that I believe Powell saw
the numbers before they were reported, because you had two
of the board members move in the other direction, you'd

(10:25):
never see it's always unanimous. Two of the board members
said no, one voted to lower rates based on the
information they had, and one of them quit. Now we
don't know if the one that quit was one of
the two that voted to lower rates, but usually it's
unanimous and there's dissension in there. I'll tell you about
the revisions in a minute. But what were really getting

(10:48):
I don't know.

Speaker 4 (10:48):
I believe, I think very rarely, like rarely in terms of.

Speaker 5 (10:53):
Quitting, I don't know, But in terms of dissension, in
terms of not unanimous voting, well.

Speaker 6 (10:57):
But quitting based on this is different than just I mean,
everybody retiring.

Speaker 5 (11:03):
We don't know it's cringing based on dissension, but it
would seem as though that's the case, because what we're
really getting at here is if you look at the
way that Powell lowered interest rates prior to the election,
that would have been done to boost the market, which
would have benefited Biden. Here we are with numbers that
would signify they should lower rates, but he's not lowering rates.

(11:28):
And I would think that really, if you were going
to connect the conspiratorial dots here that these two people said,
what the hell are you doing? You know, the jobless
rate is going higher, inflation seems to be going lower.
We need to lower rates right now, and everyone else

(11:48):
is lowering rates around the world. Why aren't we We
did it going into the election when numbers were better
than they are now.

Speaker 4 (11:57):
So what do we do? What are we doing?

Speaker 5 (11:59):
Why aren't we lower rates? And so in any case,
it's politicized. In other words, it seems very much like
Powell is definitely politicized. But when we talk about the
real damage, in my opinion, that was done, it was
not just the July numbers. If you look at the
numbers that we saw in May and June.

Speaker 4 (12:22):
Theah, it's ridiculous.

Speaker 5 (12:23):
The whole economy is based upon these metrics, right, and
the movements of the Fed, the movements of the market. So,
as an example, the main number, they had one hundred
and forty seven thousand jobs that were listed as created,
but they just revised them down to nineteen thousand. Really,

(12:48):
and the June numbers they had put out at one
hundred and forty four thousand, they just revise them down
to fourteen thousand. So instead of two hundred and ninety
one one thousand jobs that were created in Maine June,
the revision goes from two hundred and ninety one thousand
to thirty three thousand. Oh so you're basically saying in

(13:12):
essence that two hundred and fifty eight thousand jobs.

Speaker 4 (13:19):
Were just not real.

Speaker 6 (13:22):
And so maybe that far off though, because AP, you know,
I was looking at AP data is more accurate than
these guys, right, I look at them, the big payroll processor, right,
it's ADP is what it is. They are much more
reliable than these guys, and there were many reports over
the last five years that they're like, we have completely

(13:43):
opposite reporting.

Speaker 5 (13:44):
Well, think about it, how how should have the Federal
Reserve responded had those numbers been reported accurately? How would
the markets have moved those days if accurate numbers had
been reported. Gold was down twenty or thirty bucks after
both occasions, and the markets were up.

Speaker 6 (14:08):
So you think they were fixing it, like they were
upping their market. I mean that's market manipulation. They up
their stocks, they cash out, and they buy gold and silver.

Speaker 5 (14:18):
I just think that the Bureau of Labor Statistics is
full of shit. I mean that's just the bottom line.
Pardon my French, but it is. And the numbers, whether
it be in inflation and unemployment. Look, there's a man
named John Williams, and I've said this on a million
podcasts shadow Stats, and if people want to know what
real inflation and real unemployment numbers.

Speaker 4 (14:35):
Are, go there. It's free. It used to be called
you eight.

Speaker 5 (14:38):
I believe in the unemployment number where you have let
me see how many?

Speaker 6 (14:43):
Yeah, what's it at? Now? I mean, what is the
true because the market is soft? I mean Big Tech,
which is the largest companies in the world. They dominate
the market caps now like the whole structure of the
world has changed, and our government is still operating in
old time structure most people are. But Big Tech is

(15:03):
the biggest in the world now and they are soft.
And so what's I mean? So the market really is soft.

Speaker 5 (15:11):
The market is far softer than we are led to believe.
And I'll get to Cougler, I think is her name
who quit in a moment. That's the fed Erica make
Aerfer is the lady to bls who was fired. But
the thing that I wanted to mention, and I think

(15:32):
I have this written down somewhere.

Speaker 4 (15:37):
Yeah, you know, I wrote down.

Speaker 5 (15:38):
Here that on the gold price fell seventeen dollars in
stock rised on the June numbers. The gold price fell
by twenty eight dollars stock rised on the main numbers.
The real scam in all of this, too, is that
you have I don't know how many wrote it down.

(15:59):
I don't know if it's me millions of people that
are no longer counted as being here.

Speaker 4 (16:05):
It is I wrote this, I wrote this paragraph down.

Speaker 5 (16:09):
I said, most of us are well aware of the
massaging of numbers to hide the true state of our economy,
like not counting around one hundred million working age people
who don't have a job in the unemployment numbers.

Speaker 4 (16:22):
The reason they don't is.

Speaker 5 (16:23):
They fall off, they're considered disenfranchised and just done looking
for it. So unemployment numbers are way off, inflation numbers
are way off. And you know, shooting the messenger really
isn't the right thing to do either.

Speaker 4 (16:37):
But when you see that this coogler.

Speaker 5 (16:40):
Who did not participate in this week's FED policy meeting,
so I doubt it was one of the dissenters, citing
a personal matter, and she left, she's gone and what
is that personal matter. I would argue that they believe
that I think and the two who voted no, and
my feeling, they believe that it.

Speaker 4 (16:59):
Is being politicized, that this is this is about Trump.

Speaker 5 (17:03):
My guess is that that the Fed chair Powell saw
the unemployment numbers before this, and there was there was
dissension and arguing would be my guess. That's a guess,
but that is pretty much the way that it would
have seemed to me. And of all one of the
new seventy three thousand jobs that were created last month,

(17:26):
every one of them came from the.

Speaker 4 (17:27):
Healthcare industry, all of them. So that's hardly a broad
base for a booming economy.

Speaker 5 (17:33):
You know, it's every one of the new jobs, every
one came.

Speaker 6 (17:37):
From health Why is healthcare booming?

Speaker 5 (17:41):
I had a goal figure, maybe people are getting sicker.
And that's a whole other topic that I'm hearing. You've
already covered a whole bunch of.

Speaker 6 (17:48):
I'm just laying that out there because and we talked
before we started that there's a collapse of a lot
of fun a lot of the institutions are collapsing, most
from a you know, complete cup confidence collapse and people
are disengaging, and people need to read my substeck article.
But part of it is that things are occurring, like

(18:09):
people getting sick or whatever, and the mainstream media, or
the media or the government, institution's congres everybody's moving on
as if nothing's going on. You know, it's quite and
people are noticing that they're wanting things to be addressed. Epstein.
I mean, they're making huge mistakes assuming that they can

(18:30):
move on in an arrogant fashion and just ignore the
concerns of the people. It's getting to the point where
it's too much now.

Speaker 5 (18:38):
Yeah, well it should have been too much four years ago.
It should have been. And I think it's getting to
the point now where it's one thing for the rest
of the world to lose trust and faith in this
country and its direction and it's leaders. It's another thing
for the public to do so. And I think you
are seeing that and so much of it is just lies,

(19:06):
and we've seen that in so many respects. But you know, again,
they can't be honest with the numbers that come out
of the BLS or things get much much much worse
for them and their ability to keep the ball up
in the air. And I think that is behind a
lot of the moves we see economically right now or
on the big picture things that I've been talking a

(19:27):
lot about, Like I don't think they want to be
the world reserve currency anymore. I really don't, and I
think the moves that they are making are speaking to that.
I think that they want to destroy the dollar.

Speaker 4 (19:39):
I really do believe that, and I think I know
how they're going to do it.

Speaker 5 (19:43):
I think they're doing that specifically to maintain the ability
to support the bond market. And if there is nobility,
and again I'm trying to find a glimmer of positivity
in all of the stupidity around us, and again I'm
a Trump supporter.

Speaker 4 (20:01):
If there is nobility in what he's trying.

Speaker 5 (20:02):
To do, it would be to reshore and bring back manufacturing.
And the only way to do it, in my mind,
is to softly default on the dollar to do so.

Speaker 4 (20:11):
I'm happy to dig into that with some new stuff.

Speaker 5 (20:14):
We've talked a little bit about it, but I think
I can I can sharpen it so that you understand
there are very few ways out of this. There are
very few ways out of this problem.

Speaker 6 (20:25):
Well, last week you were a little bit more positive
thinking that there was, but now you know all this
new stuff has come out. You But when you're thinking
the soft default, because that is one of the options
we can default, but you're thinking is more maybe a
combination of things.

Speaker 4 (20:42):
It's a soft default.

Speaker 5 (20:43):
It's the default on the dollar, not on the bond market.
And in other words, the mathematics of it just don't
add up. The math of how do we continue to
fund our indebtedness with the current system doesn't add up.
Like I said, we have twenty eight trillion dollars in
treasuries coming due in three years. There's a three trillion

(21:07):
dollar per year deficit. They just the Treasury just came
out and said we need to borrow just over a
trillion dollars for July, August and September for the quarter. Again,
we've already were already a trillion plus in the hole.
It'll be a three trillion plus dollar deficit this year.
So figure a three trillion dollar deficit this year, next year,
in the following year into twenty eight, that's nine trillion.

(21:28):
On top of the twenty eight trillion that's coming due,
that's thirty seven trillion. We take in fifteen trillion in
tax revenue, the numbers do not work and they're beginning
to get worse.

Speaker 4 (21:39):
So the issue is how do you how do.

Speaker 5 (21:41):
You get demand for the treasury, and how do you
do that at keep it while keeping rates slow because
if rates go much above five percent on the ten
year treasury, we saw what happened to Silicon Insignature Bank,
the whole system begins to break.

Speaker 4 (21:56):
The whole system.

Speaker 5 (21:57):
You see when you suppress interest rates for as long
as we did for twenty five years to create an
illusion of prosperity when you offshore your manufacturing because of
Triffin's dilemma, where the world reserve currency is always stronger
than everyone else's currency because they need more currency than
we can provide just through trading, so they have to

(22:17):
sell their currency to buy our currency. Their currencies are low,
ours are high. Therefore, manufacturing over there is way cheaper.
That's why we sent our manufacturing over there can be
done at a fraction of the price, which keeps the
goods that we buy at Walmart and Target cheap. It
keeps interest rates slow because they use our dollars and
they buy our treasuries, and it keeps asset prices high.

(22:37):
Those high asset prices are a function of suppression of
interest rates.

Speaker 4 (22:41):
That's the whole issue.

Speaker 5 (22:43):
And when you create that environment of suppressed interest rates
and no manufacturing, the illusion of prosperity is found in
your four oh one k, your and your home. And
so if rates rise, not to mention, the banks and
the insurance companies use US treasuries as a risk sukless
asset backing, so much of their what they do. If

(23:04):
rates rise, those bonds in circulation, not only in the
bond market, but in the banks and the insurance companies implode,
and you see massive problems, and so does stocks, bonds
in real estate.

Speaker 4 (23:16):
And so this is really the issue.

Speaker 5 (23:18):
How do you get demand where mathematically it doesn't work
for treasuries where we have.

Speaker 4 (23:24):
To we owe.

Speaker 5 (23:26):
We're borrowing money every month to pay the money the
indebtedness that comes due, in other words, the bonds that
are maturing. We're borrowing money to pay for those bonds
that are coming due. We don't have enough money. If
we were to calculate Medicare, Medicaid and social Security and
the government military pensions on our thirty seven trillion dollar debt,
we'd be north of two hundred trillion in debt. There's

(23:48):
never been a country that's crossed one hundred and thirty
percent debt to GDP and come back without hyperinflating or defaulting.
Right now, we're at one twenty ish, one twenty five.
You add that we're well over two hundred and So
the dilemma is, how do you sell bonds without rates
going to the moon? I mean, there's always a buyer
for US treasures, but at what rate? And why would

(24:08):
as I said earlier, why would anyone buy a four
and a half or five percent treasury with any duration
when John Williams will tell us real inflations eleven percent
and you can see mathematically that they will have to
print money to inflate in order to do this. Now,
we've already seen the dollar lose eleven percent this year,

(24:29):
so they are doing it. The question is how bad
will it get? In My belief is it will get
very bad. That they will destroy the value of the
dollar by printing it away. I also believe they will
revalue the price of goal to devalue the dollar like
they've done three times before, like would benefit every central
bank on the planet, like it's held in the gold
revaluation account.

Speaker 4 (24:49):
That's the name of it on the balance sheet.

Speaker 6 (24:51):
Well, and it's just a matter of time, right, we
just don't know what the timing is. And it's just
this looming thing that's that's happening, right, the other thing
you were talking about home and then there's a report
that just came out. It's been there forever. It's not
like it's hidden data. But the younger people are at
an all time low millennials and prim millennials whatever that is,

(25:13):
Generation Z or something, they are at a four decade
low at buying homes. I saw that they can't get home.
And it coincides with my article. You know, people are
going to have to go look at my subset article
on the collapse of trust and people, and this all
comes into it. It's from every direction.

Speaker 5 (25:35):
And it wasn't even that it was being at age
thirty being married and having a home. It's straight down
like when our parents my mom and my mom was
eighteen when she got married and my dad, who was
twenty three. I got married at twenty seven or whatever
I mean and now and had a home and I

(25:57):
wasn't making great money back then, but the cost of
home homes weren't as expensive.

Speaker 4 (26:03):
As they are now.

Speaker 5 (26:04):
It's the all time most highest unaffordable hunt, the highest
unaffordability for housing ever. It's over forty four percent of
your income. But at thirty and married, it's the lowest
level ever. In other words, the American dream having a
family and a home at thirty is the lowest it's
ever been.

Speaker 6 (26:24):
But the other problem is is that's our people's biggest asset,
that's their retirement fund, that's their everything. So it's becoming
a serious issue. You have Trump and Powell openly fighting publicly.
I don't know if that's theater or not. I need
your I mean, you've never seen that in America country.

Speaker 5 (26:42):
Because he wants rates lower, which he thinks will increase
home affordability and make it easier for younger people to
get loans. But think about it and how backward thinking
that is. Okay, yes, it does make it easier to
go into dead.

Speaker 4 (26:56):
Difference, but no, wait would it would it?

Speaker 6 (27:00):
Holmes are going to skyrocket.

Speaker 4 (27:01):
That's the point.

Speaker 5 (27:02):
So if you have easier money, yes, it's easier for
young kids, younger folks to get alone. Perhaps, But you're right, now,
more people who have more money than those folks have
an easier time getting a loan and affording it. For
the home prices go higher and higher and higher. This

(27:23):
is what got us into the problem to begin with.
To see, interest rates should not be created or controlled
by twelve governors or one person. It should be created
by the market. The market should dictate the risk and
the reward. That is free market enterprise. When you manipulate
interest rates for so long and keep them so low,

(27:43):
you create distortions.

Speaker 4 (27:45):
And by having a federal funds rate at zero for
all of those years where a thirty.

Speaker 5 (27:51):
Year mortgage was three and four percent, the asset prices
as a result of those mortgages became distorted because the
question is the home that you live in right now
at three percent thirty year mortgage rate, what's it worth?

Speaker 6 (28:08):
Well, that's why people won't bought or won't sell because there's.

Speaker 4 (28:11):
Now it's at seven.

Speaker 6 (28:13):
Well, they're in these like three percent mortgages and it's
at seven, so nobody wants to sell.

Speaker 5 (28:19):
And then well you can't move laterally because the cost
of money is doubled. But not only that, now that
it's at seven, is it really worth what you think
it is?

Speaker 4 (28:28):
And if you bought it at three.

Speaker 5 (28:30):
Percent or refinance based upon a valuation is it worth that?
In other words, the only thing that will fix this
is lower prices, really because the issue is that prices
are too high for this interest rate environment, but because
because no one can sell and wants to realize those

(28:53):
losses and the inability to downsize, even because the cost
of money is so expensive now two and a half
times what it was a few years ago. It's the
distortions and the misallocations of resource and capital and the
disortions of asset prices that were a function or a
factor of suppressing interest rate and take.

Speaker 6 (29:15):
To get on of this right, because.

Speaker 4 (29:17):
It takes some pain.

Speaker 5 (29:18):
It takes a collapse, It takes a collapse of real estate.
And you can have a three percent mortgage Thereah. But
if that's great, but if you lose your job, how
great is it can't pay for it? Then what happens.
I'm not saying that's going to happen, but the simple
point of it is that people die, people lose their jobs.
Things happen, and those lofty prices have to come down

(29:39):
to meet demand. The spread between houses for sale and
houses selling is like the biggest ever, and there's a
lot of houses for sale, but they're not selling because
they're too unaffordable. And they're unaffordable because there's still priced
at the level three years ago when interest rates were
at three percent on the thirty get moneys two and

(30:01):
a half times higher. So the you know, the county
may value your house at a million dollars, even though
you know ten years ago, seven years ago, six years ago,
it was worth seven hundred thousand. But then they stepped
down interest rates, and all of a sudden, that one's
buying homes three percent mortgage, the price shoots up, and

(30:22):
here we are. It's never corrected to the fact that
rate's gone back up. He wants lower rates. It will
only add more fuel to the fire. Manipulating rates is
the problem that got us into all of this. That
that's not going to change.

Speaker 6 (30:35):
We're in a we're in they're they're in a corner,
is really what the problem is.

Speaker 4 (30:39):
And on every single level.

Speaker 6 (30:41):
I know, but that's why we're seeing a collapse, very real,
serious situation that we haven't seen. I don't in my lifetime.
It's it's really now you are seeing purchases we've talked
about purchases off the Comx before and how it was skyrocketing.
Now it's every time I talk to you, practically it's

(31:02):
a new record.

Speaker 4 (31:04):
So it's really crazy.

Speaker 5 (31:10):
And and by the way, I want to do before
I go there, well, when we talk, I'd like to
talk a little bit about stable coins, and that will
help answer a lot of what we are.

Speaker 4 (31:20):
Just talking about here.

Speaker 5 (31:22):
With with interest rates and stuff when we get to
that point, if we have time. But when you talk
about what's happening on Comax, I've never seen anything like
it now. I used to say, as just a matter
of fact, that Comax contract which gold contracts are one
hundred ounce is a piece, and silver contracts are five

(31:44):
thousand ounces a piece, five one thousand ounce bars and
one one hundred ounce gold bar.

Speaker 4 (31:50):
And I used to say all the time that.

Speaker 5 (31:54):
One percent or less of these contract dan for delivery,
just one percent or less. And what we are seeing
right now is crazy. Just to give you an example,
so I keep in mind what I said about the

(32:17):
fact that.

Speaker 4 (32:18):
Less than one percent ever stood for delivery. So the
August delivery.

Speaker 5 (32:22):
On the Colmax is off to I guess you could
say an insane start, and that it's for three days.
In four days into the August delivery contract. Now I
only have the first three days of data. But in
the first three days of the August contract, twenty thousand,

(32:43):
one hundred and twenty six contracts stood for delivery. That's
that's two million. Let's do the math here, it's twenty thousand,
one twenty six times one hundred. That's two million, twelve thousand,
six hundred ounces ago. That is worth right now six
point eight four billion dollars. Now that was just in

(33:05):
the first three days. Now here's the crazy thing. You
know I mentioned that.

Speaker 4 (33:10):
Did I just do there?

Speaker 5 (33:11):
I want to get that back so looking that the
eyes and crossed the fees on this all right?

Speaker 4 (33:16):
Okay?

Speaker 5 (33:16):
So anyways, you know I mentioned that the delivery is
it is crazy. Every single contract, every single one, is
settling in physical metal. In other words, less than one percent.
My whole career used to settle for metal. In other words,

(33:37):
they would be rolled over, they would be paper settled.

Speaker 4 (33:43):
This is a one to one ratio for this month.

Speaker 5 (33:45):
That means physical delivery is taking place on every single
one of those twenty one and twenty six contracts.

Speaker 6 (33:52):
In the use of being.

Speaker 4 (33:54):
Less than one percent.

Speaker 5 (33:56):
So so that that's seven billion dollars where of gold
in the.

Speaker 4 (34:00):
First three days.

Speaker 5 (34:01):
That signals massive investor demand for real metal, not just
people trade change.

Speaker 6 (34:06):
That's the kind of fundamental change I'm seeing. That's a
ninety nine percent swing.

Speaker 5 (34:11):
Yeah, And when you realize that across the entire futures complex,
almost all futures are closed out before delivery, they trade
for profit or settle in cash. And when you see
physical metal actually changing hands, and this is only three
days in, there's a lot of open interest left.

Speaker 4 (34:29):
That means contracts that can actually.

Speaker 5 (34:31):
Do this and every issued contract standing for delivery is
this is a change. And so this goes hand in
hand with what I've been saying about. I believe it's
the US Treasury, probably through the Exchange Stabilization Fund, that
is standing for delivery on all of this, and this
is what we know of. I'm sure they're taking it

(34:51):
through all different avenues. I really believe they're going to
back at some point the back end of the treasury
market with gold.

Speaker 4 (34:59):
So well, it.

Speaker 6 (35:00):
Looks they're going to do those behaviors right. That's but
the same time, do you think that they're pumping up
the stock market, and the average person is going to
get screwed.

Speaker 5 (35:13):
Well, you have the largest allocation of stocks in the
history of the stock market by the public right now,
fifty four percent. That's bigger than the dot com And
not only that, what's even worse than that is that
you have the all time highest margin debt level ever
in the history of the stock market, over a trillion

(35:33):
dollars in margin debt. And if you have margin debt,
if you haven't a margin account at your brokerage, it
means you have give ten thousand dollars of your own money.
You can borrow another ten thousand from the broker You
now control twenty But if the price goes against you,
they sell your stock unless you pony up more money.
It's gambling. So the public has all time leverage, margin,

(35:57):
all time participation. And since June, just a few months ago,
Bezos has sold six billion worth of Amazon stock.

Speaker 4 (36:07):
The three biggest creator are three biggest.

Speaker 5 (36:10):
Stockholders and board members or in Nvidia have sold hundreds
of millions each. You have buffet On sitting on five
hundred billion in cash. You got all the insider selling,
and the institutionals, the hedge funds are selling between two
and four billion a week, and the people.

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Speaker 5 (37:26):
And at the other end of the spectrum, you have
people with very little exposure to commodities like gold and silver,
very little and yet we're seeing in three day seven billion,
which is following suit for month over month, of a month,
of a month, of a month over months is the
beginning of the year record deliveries and become a net
importer of gold. So between the central banks for the
last three years draining the world's exchanges and the sovereign

(37:48):
wealth funds that.

Speaker 4 (37:49):
Act as a proxy to these.

Speaker 5 (37:52):
Central banks, you now have the most intuitive, well informed
traders in the United States standing for delivery for billions
and billions and billions of dollars worth of gold. In
the public is completely polar opposite. There's the insiders and
the institutional selling into the hands of the public. Who's
going on margin?

Speaker 6 (38:13):
It's sae.

Speaker 5 (38:13):
They take their money by commodities, and the public has
no explosire what could possibly go wrong.

Speaker 6 (38:19):
That's a revolution waiting. I mean, that is so sad. Okay,
now let's talk about the cbd the not CBDCs, you
might as well call them that, but the stable coins.
People are saying that this is the CBDCs in a cloak.
But you I remember last year we were talking a
lot about how they were going to put us into

(38:41):
a situation. I don't even know if they did it
on you know, people, you don't even have to be
doing it on purpose, but you put we're in a
situation where almost the solution is also the cage.

Speaker 4 (38:55):
It is one thousand percent, and.

Speaker 5 (38:57):
So you have Treasury Secretary the stable coins can create
up to two trillion in demand for US treasuries. And
it's true. I went on a couple podcasts last week
It's funny, and I said that you're going to see
corporations worldwide issue stable coins because they're all backed by
US Treasury onflow.

Speaker 4 (39:19):
And so here's the crazy thing.

Speaker 5 (39:23):
So what I before I answered this, I want just
to clarify my belief is they're going to use these
stable coin issuance is and you'll see every corporation. I'm
going to give you an example in a minute. Yes, no,
kind of. But they're going to back the front end
of the treasury market with it, the one the part
that has low interest rate. It's up to two years,

(39:44):
and every single stable coin that is sold will be
backed by US treasures. That's the legislation part of it.

Speaker 4 (39:50):
They will control the.

Speaker 5 (39:51):
On ramp and the off ramp, even though these are
individual corporations that the FED will see who's coming in
and who's coming out. As I mentioned to you last
the bricks pay Technology has KYC, KYT and AML technology.
AML's anti money laundering. KYC is no your client, that's
through all of us companies. KYT I have never heard of,

(40:13):
know your transactions. So they'll know what you buy, who
you are, and where you got your money. But so
they're going to use that to fund the government's activities
the front end. Instead of dollars that we normally would
do through wires and stuff, you'll use stable coins through
all these institutions, which are one to one.

Speaker 4 (40:33):
Pegged to the treasury. So it's a synthetic.

Speaker 5 (40:37):
Demand for treasuries when the organic demand is dying and
the back end of the market where the real debt
accumulation would would go with this inflationary deal that we're doing,
they would have to be much higher interest rates, but
that would blow up the market.

Speaker 4 (40:55):
So instead they peg gold to it.

Speaker 5 (40:56):
All the gold that comes in, they peg it to gold,
make it redeemable in gold on the road.

Speaker 4 (41:01):
That acts as the high interest rate. You have zero
borrowing costs.

Speaker 5 (41:04):
If you revalue gold first, as everyone is talking about now,
and you and I have talked about for a while.
It's held in the revaluation account. Jim James Rickards says,
twenty four thousand. That's the number he gets dividing M
two into the gold that we supposedly have. But it
would benefit every central bank. But when you if you
make gold twenty four thousand, and the Treasury Secretary would

(41:26):
just tell the Fed chief make it twenty four thousand,
that would give the Treasury General account six trillion, free
and clear. Every four thousand dollars increase in gold gives
the Treasury one trillion dollars that they would issue gold
certificates to the Fed. The Fed would create that money
out of thin air, give it to the Treasury six trillion,

(41:48):
which would massively devalue the dollar. The Fed does not
have claim on that gold.

Speaker 4 (41:52):
It's the people's gold.

Speaker 5 (41:53):
They just have claim on the cash value, but they
hold it in their vaults as collateral. In any case,
the six trillion would allow the Fed to or the
Treasure to start to work off some of its debt.
The devaluing of the dollar tremendously would allow us to
bring back our manufacturing at zero interest rates, because those

(42:13):
bonds would have a zero coupon rate but.

Speaker 4 (42:15):
Deliverable in gold.

Speaker 5 (42:16):
The stupider we are with our monetary and fiscal behavior,
the higher the price of gold goes. It acts as
the interest rate, It acts as the inflation hedge. So
you have the stable coins that are going to be
I'm going to give you an example how it just
happened last night. It freaked me out because I've been
saying this for two weeks now, so last night I'll
read you.

Speaker 4 (42:33):
But so, they use the stable.

Speaker 5 (42:34):
Coins to run the front end of the market at
low rates to keep the spending of the government moving
the back end, they put zero interest rates. They peg
it to gold deliverable in gold, which puts zero interest rates.
They revalue, it decreases massively, devalues the dollar, brings back
manufacturing at zero interest rates, and allows us to sell

(42:55):
our products at a devalue dollar to the world and
grow our way out. That is what I think they're
trying to do, because you can't sell your manufacturing at
a high dollar price, and you can't be the world
reserve currency at.

Speaker 4 (43:06):
A high dollar price.

Speaker 5 (43:06):
That's why they're terrifying all of their allies, countries that
we are supposedly close with and they understand. Vance even
came out on White House letterhead and said, Triffin's dilemma means.

Speaker 4 (43:16):
It's bad to be the World reserve.

Speaker 5 (43:17):
You hollow out your manufacturing, and we're too far down
the line.

Speaker 4 (43:20):
It's not good for us anymore.

Speaker 5 (43:21):
I think they're pushing against everyone to find alternatives to
the dollar settlement system, the world reserve system. Now the
bond market.

Speaker 4 (43:30):
Is good, just just the dollars.

Speaker 5 (43:32):
The bond market's different. So the dollars, if you if
you save in dollars, you're dead. It's already down eleven
percent this year.

Speaker 4 (43:39):
So they let the dollar die.

Speaker 5 (43:41):
That's how they print their money and devalue their money
in order to pay off the mountain, the two hundred
plus trillion in debt that they have. And how many
seconds ago was a trillion seconds? Or how many years ago?
Thirty one thousand, six hundred and eighty eight years.

Speaker 4 (43:54):
Ago was a trillion seconds, Where two hundred trillion in.

Speaker 5 (43:56):
Debt you peg gold deliverable out into the future, was
zero coupon on those bonds, which allows no borrowing costs
and a devalued dollar by revaluing the price of gold,
bring your manufacturing back at zero interest rates and a
devalue dollar lets you sell to the world cheaply. You'd
revalue gold much much higher. In order to devalue the

(44:18):
dollar and pegget to the bonds. You use the stable
coin issuance to back the front end of the treasury
market to keep the game going. Now, I said that
every every corporation on the planet is going to start
issuing them. Listen to what I just saw last night,
JP Moore. I can't see crap, but it's problem being old.
Get your JP Moore, Yeah, I know, I think I

(44:39):
can get this, JP Moore. This is as of last night.
JP Morgan partners with coinbased integrate banking and crypto like
never before. Starting in fall twenty twenty five, Chase customers
will be able to do the following link bank accounts
directly to coinbase Wallet's, a first for a major US
bank fund coin Base Wallet's using their Chase credit cards.

(45:01):
Listen to this one redeem Chase Ultimate reward points for
us d C one dollar equals one hundred points. Those
are stable coins. USDC is the Circle Goldman Sachs Circle
stable coin.

Speaker 1 (45:17):
Uh.

Speaker 5 (45:18):
And then he goes on to say the twist, it's
coming straight from the bank led by Jamie Diamond, who
not so long ago was calling bitcoin a fraud. Talk
about a one hundred and eighty percent on digital assets.
This institutional adoption and action an explicit signal crypto isn't
going way. In other words, they are using the issuance
of stable coins. And think about my my show, it's

(45:40):
called Little by Little. Well, think about how recently we
started hearing about stable coins a year ago, two years ago.
I mean it was Bitcoin forever.

Speaker 6 (45:50):
But well, USDTC, you know at us DTE, I think, yeah, tether,
but this it was more of a niche market, right,
they were testing.

Speaker 5 (45:59):
It's almost like little by little by little. And now
the Treasury Secretary is coming out and telling you flat
out telling you that he's going to this will enable
to get interest rates. Now, remember we talked about.

Speaker 4 (46:14):
Well, let me just find the actual thing I want
to redo.

Speaker 5 (46:17):
Here, because here it is right here, it says Secretary
of Descent openly stated.

Speaker 4 (46:23):
He said, uh, well, I'll redo you with a.

Speaker 5 (46:26):
Projected national debt rising to sixty trillion by twenty thirty five,
Fiscal irresponsibility is baked into the cake. Treasury Descent openly
stated he expects to push rates lower when Powell steps down,
suggesting direct fiscal control over monetary policy. And in other words,
if all of a sudden, the Treasury isn't is at

(46:47):
behind all of the issuance of treasuries because of the
stable coins, the Fed's job becomes much less significant. They
won't be able to come in and do all of
these things that they do to control monetary It's kind
of fiscal monetary policy combined, he says. The Center is
reportedly a potential can replace Paula's fedshair. This signal is

(47:07):
a planned strategy to influence interest rates.

Speaker 4 (47:09):
Via fiscal tools.

Speaker 5 (47:11):
If enacted, their approach could trigger massive renewed inflation cycles,
especially with an anticipated time frames starting next summer. He said,
we're going to go big on stable coins, and we're
going to get rate slow. If you get rates slow,
that means inflation. That means the dollars going to die.
And that's what they want to do. They want to
destroy the dollar but allow enough demand for the treasury.

Speaker 4 (47:35):
Well, how do you do that.

Speaker 5 (47:36):
If you destroy the dollar and inflation, you have to
have rates high. No, you peg it to gold and
have zero interest rates on the long end, so you
can bring back manufacturing and the devaluation of the dollar
through revalue and gold allows you to sell your products
to the world much more deeply. But the world reserve
status and the dollars saving.

Speaker 6 (47:54):
Said okay, well, if that happens to the dollar, there
won't be physical printed dollars anymore unless they come up
with a new thing. The only thing that will stand
withstand that is gold and silver. As far as being
a print of all money, I mean that our money
that we have. I mean, because if they kill the dollar,
they're going to have to print and do you think
they're going to get rid of They're going to force

(48:16):
everybody into a digital commodity and not.

Speaker 4 (48:19):
Well, the world is moving cash list.

Speaker 6 (48:21):
I agree, we are cash lists, but that'll overnight make it.
I mean, can they do that? You know what I'm saying.
I mean, if they kill the dollar, will they will
they stop printing something physical?

Speaker 4 (48:32):
Well, I mean maybe.

Speaker 6 (48:34):
What is the average person going to do? That isn't
not everybody is digital the.

Speaker 4 (48:41):
Whole that they would end up.

Speaker 6 (48:44):
Some of them, I mean, I don't know most Maybe.

Speaker 5 (48:46):
They get some form of universal basic income from the
government on some form of a credit card or something.

Speaker 4 (48:53):
But every year we.

Speaker 6 (48:56):
Have to talk about ubi universal basic income at some
point because I've been completely against it because of how
it destroys people's willingness to work. But I'm rethinking it,
not because I don't. I think it still does that right.
But what are we going to do? I mean I
almost think we're in a corner again.

Speaker 4 (49:18):
Well, I mean, what are we going to do in
this environment?

Speaker 5 (49:21):
You have very very wealthy people and very very poor people.

Speaker 4 (49:26):
The middle class and the poor will be.

Speaker 5 (49:32):
We'll find it much harder to make ends meet in
an inflation massive inflationary environment.

Speaker 4 (49:36):
And so the Cantalon.

Speaker 5 (49:38):
Effect says that people who have assets will make lots
of money. They'll be much much wealthier because their assets
will appreciate.

Speaker 6 (49:48):
What it's going to happen. Is there going to be pitchforks?
I mean we talking the pitchfork situation that we saw
during the French Revolution.

Speaker 4 (49:57):
I mean what I see happening.

Speaker 5 (50:00):
I could see Trump coming on TV and saying, look,
we messed up. We messed up a very good deal
of being the world reserve currency. But we are far
too indebted and the rubbers meeting the road. This is
what we need to do in order to bring back
our manufacturing. Sixty percent of America does not have a

(50:22):
college degree. AI is going to eviscerate a lot of
white collar jobs. Where's everyone going to get living? Where
are you going to work to? We don't make anything anymore,
we don't we make it and financial assets, financial instruments.
So instead the only way to bring back your manufacturing.
So you know, as I mentioned, Triffin's dilemma means that

(50:45):
you will always have a trade imbalance because it's cheaper
to make your goods elsewhere because your dollar is too high.
So they don't want that Number one even Vance said it.
And in order to bring back manufacturing, you have to
devalue the dollar, and the inflation has to be part
of the deal to pay off the debt and to
devalue the dollar further to make our exports more attractive.

(51:05):
But to get the manufacturing back here, you have to
have zero interest rates.

Speaker 4 (51:10):
That's the gold backing.

Speaker 5 (51:11):
But this deal will make it very, very difficult for
the poor.

Speaker 4 (51:16):
They there will have to.

Speaker 5 (51:17):
Be a I'm sure some form of universal basic income,
but they'll say, look, we messed this up, and.

Speaker 4 (51:23):
For our children and for our grandchildre and then.

Speaker 5 (51:26):
For us down the road, we need to be the
engine of ingenuity and manufacturing again. And the only way
to do that is to reverse what we've done by
being the world reserve currency and bring it all back
and sell to the world.

Speaker 4 (51:38):
Because we have the.

Speaker 5 (51:39):
Most natural resources, we have the greatest schooling, the greatest ingenuity,
We too can fig ourselves out of this, but it's
going to take a little bit of time and some pain.
There is no easy way. Richard Russell, my mentor used
to stay fifteen years ago. The FED is so far
down the indebted path they have two choices, inflate or default.

Speaker 4 (51:58):
Well, this is a third choice.

Speaker 5 (52:00):
Default on the dollar, to maintain the integrity of the
bond market, to bring back manufacturing, to regain legitimacy down
the road. This is kind of like the fourth turning,
you know, where everything has to change. We have exploited
so much out of the system that there really is
no easy way to do it any longer. There isn't

(52:21):
And I think this carries with it the least amount
of pain, But I'm very confident that is what's going
to happen.

Speaker 4 (52:27):
If I'm right.

Speaker 5 (52:28):
The worst thing that you can do is to save
your money and dollars, you'll go broke. And if you
aren't the contrarian right now and people who listen to
this show are, you're going.

Speaker 4 (52:38):
To be a victim. I do believe that the dollar
is lost.

Speaker 5 (52:41):
It's funny, you know, we talk about the Federal Reserve
and all the things that they have done. Section two
A of the Federal Reserve Act nineteen thirteen. It stay
as is reading this yesterday and made me chuckle. It's
said that the Fed is supposed to maintain stable currency,
yet since nineteen thirteen, the dollars lost ninety seven percent
of its purchasing power.

Speaker 6 (53:00):
The source of destabilization.

Speaker 4 (53:02):
It's going to get worse now.

Speaker 5 (53:03):
It's going to get worse because it's the only way
out is to inflate away the problem and devalue the
dollar in order to address the real issue. And then
it's how do we pay off our indebtedness and bring
back our manufacturing to grow because we have nothing that
allows us to grow anyone.

Speaker 6 (53:20):
We're seeing a collapse of confidence in a lot of
this That's what the film is. But the problem is
that people don't have The people who are collapsing don't
understand anything about economics. They just know that they can't
get a job, they can't get a house, they can't
trust the government. Their family members are dying from an
illness that nobody gives a shit about. That's the stuff

(53:43):
that they're seeing.

Speaker 4 (53:44):
Well, think about it. What's the monster the US government?
The full faith? What faith? It's lost?

Speaker 5 (53:49):
Faith and trust and credit? What credit? We're broke, We're insolvent.
So the full faith in credit the US government in
a system that used to be backed by a faithless,
trustless system. In other words, it was exchangeable for gold.
We had no inflation. And now not only have we

(54:11):
lost faith and trust in our currency and in our treasury,
but also in our institutions, like the line coming out
of the Bureau of Labor Statistics, Like the things that
we saw the last four years under the Biden administration, election,
integrity and order issues, immigration to tier justice system, all

(54:32):
of the stuff that drove me insane. These are the
things that are happening now. I just wanted to mention,
just to put an exclamation point on something I brought
up with you last week. Remember I was talking about
maybe the last few weeks about the bricks bridge and
it's the ambridge and how China connected it with these

(54:52):
countries in Southeast Asia.

Speaker 4 (54:54):
They're called Asian a Sea.

Speaker 5 (54:55):
N I brought it up to you saying that the
bricks Bridge technology, which is central bank to central bank,
was fully connected and working with these eleven countries in
the Asian region. As these are the countries in Southeast
Asia and five Middle Eastern countries they had signed up
to it.

Speaker 4 (55:13):
It's working.

Speaker 5 (55:13):
They can trade with one another cross border using their
central bank digital currency and settle in balances in gold
in this new multi jurisdictional vaulting system that China is building.
First one is done in Hong Kong, the next one
is under construction right now in Saudi Arabia, and then
they're going to be going around.

Speaker 4 (55:32):
The Belt Road.

Speaker 5 (55:33):
We talked about that, We talked about bricks pay, which
is the retail side of that, which is business to business,
consumer to business, consumer to or bank to consumer, all
these things, and they too are connecting with the Asian
countries and the Belt Road initiative. This is ninety percent
of human population ultimately. But it was a big deal

(55:53):
to me when I saw that the bridge had signed
up with these countries is Asian countries.

Speaker 4 (55:59):
And then I.

Speaker 5 (56:00):
Something a couple of days ago, and it was a
Forbes article.

Speaker 4 (56:03):
I'm going to read it to you. Forbes pointed out
that China is now just.

Speaker 5 (56:07):
The third largest trade partner for the United States, a
distant third behind Mexico and China. In the month of May,
China was represented less than six percent of US trade,
which was the lowest level in over twenty years.

Speaker 6 (56:19):
Wow.

Speaker 5 (56:20):
Then there are the Asian countries, the countries in Southeast Asia,
and together they have a population twice as large as
the United States, over seven hundred million people. I remember,
they're connected to these new cross border payment systems that
have free from swift interference, settle in seven seconds and
have a ninety eight percent reduction in fees, and then

(56:40):
they can settle in gold. These are the Asian countries
and together they have a population twice as large as
the United States, over seven hundred million people. These are
also some of the fastest growing consumer markets in the world,
with a fast growing middle class. And this group of
countries is now China's largest trading partner by far, way
ahead of the European Union in the United States.

Speaker 4 (57:02):
So they're large.

Speaker 6 (57:03):
We can rush to destroy ourselves. We're stupid in what
we're doing.

Speaker 5 (57:08):
Well, China's two steps ahead of us. They see what's happening.
They understand what is happening. That is why they are
selling treasuries. They are now number three they used to
be number one. Number two is the UK now two
broke countries buying each other's debt. It's two drunk guys
standing against each other so they don't fall over. And

(57:29):
number three is China rapidly becoming less. So all of
the countries that used to buy our treasuries are no
longer buying treasures and they're buying commodities. This is exactly
why you are seeing them have to come up with
stable coin deals out of nowhere, little.

Speaker 4 (57:44):
By little bit bang.

Speaker 5 (57:45):
It's everywhere, and every company, including JP Morgan, who laughed
about it, is now issuing stable coins because every stable
coin will support the treasury market.

Speaker 4 (57:55):
On the front end, Why are we.

Speaker 5 (57:56):
Bringing back billions and billions and billions and billions and
billions and billions and billions.

Speaker 4 (58:01):
Worth of gold.

Speaker 5 (58:02):
It's the only way to back the back end of
the treasury was zero interest rate.

Speaker 4 (58:05):
Well, they have a plan maybe, but I think what
Mary corner.

Speaker 6 (58:09):
Yeah, it's a hail Mary. We're kind of back in
the corner. You know, there's a lot of people saying
we've got to get out of the system, and don't.
The only way to really protect yourself out of the
system right now is gold and silver. If you really
are looking for that, and I mean, we're going to
keep talking about this. If ninety nine percent of the
contracts coming back are now our one hundred percent are

(58:29):
going in and I've never seen that before, A bowing
gold that, I mean, that's incredible. You're saying that, I'm like, oh, geez,
I gotta buy some more. That's honestly, that's kind of
where I'm thinking.

Speaker 4 (58:41):
I'm like, oh man, And just so you understand that,
go ahead.

Speaker 5 (58:45):
If I'm a producer of gold, or I'm a precious
metals company, if I have If I have five thousand
ounces of gold in my warehouse and the and the
price of gold goes down one hundred dollars, I'm out
five hundred thousand dollars. So I hedge it sell on coms.
I use a contract to offset my risk. One goes up,
one goes down. It allows me to market neutral. I'll

(59:06):
sell five thousand on comes. So if the price goes down,
what I sold short goes up, my inventory goes down.

Speaker 4 (59:12):
I market neutral.

Speaker 5 (59:13):
I have no intention of standing for delivery. A producer
who's producing gold will sell his future production out into
the marketplace at a price that he's happy with. He's
not intending to take delivery of the contract. He's selling
his metal. In other words, he's selling short. He's selling
something he has coming out of the ground, and so
the other entity. You know, normally these are just being

(59:36):
done to offset risk. No one's going to stand for
delivery on the contract itself. It's just being done either
to speculate to make money or to hedge risk on
one side or the other, not to stand for delivery.

Speaker 4 (59:49):
The delivery option, which is kind of something no one
ever even realized. Well, yeah, we can do it.

Speaker 5 (59:55):
I guess now everyone's doing it. And one hundred percent
delivery ratio in three days a tune of seven billion dollars.

Speaker 4 (01:00:04):
I don't never see.

Speaker 6 (01:00:05):
I mean, it's just that most of.

Speaker 5 (01:00:07):
It's leaving the COMEX too. It's not just staying inside
the coal mex ecosystem.

Speaker 4 (01:00:11):
It's leaving.

Speaker 6 (01:00:11):
Never happens.

Speaker 4 (01:00:12):
Where is it going?

Speaker 6 (01:00:13):
Yeah, never ever, So okay, on that note, people can
if they're interested in getting some for themselves, which is
a really swart idea. You buy from somebody that you
can trust. You can go to Sarah Westall dot com
slash Miles Franklin and fill out.

Speaker 4 (01:00:29):
That form get our price sheet, and.

Speaker 6 (01:00:31):
Get your price sheet, which is the best in the country.

Speaker 5 (01:00:35):
And if you see it, if you see a higher
price or a lower price elsewhere. These the sheet that
we do it for specific reasons is not updated every day.
Let us know more often than that we're going to
beat every price in the country or come real damn
close to it.

Speaker 4 (01:00:50):
And you know, we are.

Speaker 5 (01:00:52):
In the state of Minnesota, the only state that licenses,
requires licensing and bonding where we've never had a complaint,
but we are Most company won't do business in Minnesota
because of the requirements.

Speaker 4 (01:01:02):
It's the safest transaction.

Speaker 5 (01:01:04):
We have the best reputation, no customer complaint in thirty
six years and twelve billion plus in sales, and we're
licensed and bonded, and that is very unusual in a
federally non regulated industry. To me, trust and licensing and
bonding in this case means that you cannot work with
a safer company in this industry, and I will make
sure of that. If they come from you, they will

(01:01:25):
be treated with kid gloves. And so keep in mind,
if you see a price lower, let us know. We'll
do the best we can typically we can, but nonetheless
it will be as competitive as anywhere, and you won't
have to worry about any issues or problems. And if
there are any problems, we are very good at addressing
them and making them right.

Speaker 6 (01:01:45):
Well, considering how many scam diarrays, you want someone that
you can trust and that gives you really good prices.
I mean, as a business person, that's what you're looking for. Okay,
thank you so much.

Speaker 4 (01:01:57):
Until next year, you're the greatest.

Speaker 5 (01:02:00):
Next week you stay well and thanks for having me.
It's it's always nice to be here.

Speaker 1 (01:02:17):
Hi, everybody, it's me Cinderea Ax.

Speaker 2 (01:02:20):
I'm just listening to the Fringe radio network while I
clean these chimneys with my gass livers.

Speaker 1 (01:02:30):
Anyway, so Chad White, the fringe cowboy.

Speaker 3 (01:02:34):
I mean he's like he took a leave of absence
or whatever, and so the.

Speaker 2 (01:02:38):
Guys asked me to do the network. I d So
you're listening to the Fringe Radio Network. I know I
was gonna say it, Fringe Radio Network dot com.

Speaker 1 (01:02:53):
What oh jat, Oh yeah, do you have the app?

Speaker 3 (01:02:57):
It's the best way to listen to the Fringe Radio Network.

Speaker 1 (01:03:01):
I mean it's so great.

Speaker 2 (01:03:02):
I mean it's clean and simple, and you have all
the shows, all the episodes, and you have the live chat,
and it's it's safe, and it won't hurt your phone,
and it sounds beautiful and it won't track you or
trace you and you don't have to log in to
use it. How do you get it fringeradionetwork dot com

(01:03:26):
right at the top of the page.

Speaker 1 (01:03:28):
So anyway, so we're just gonna.

Speaker 2 (01:03:30):
Go back to cleaning these chimneys and listening to the
Fringe Radio Network. And so I guess you know, I mean,
I guess we're listening together. So I mean, I know,
I mean, well, I mean, I guess you might be
listening to.

Speaker 3 (01:03:45):
A different episode or whatever, or or maybe maybe you're.

Speaker 2 (01:03:48):
Listening maybe you're listening to it, like at a different
time than we are. But I mean, well, I mean,
if you accidentally just downloaded this, no, I guess you Okay,
I'm rambling, Okay, Okay, you're listening to the fringe radio
network fringradionetwork dot com.

Speaker 1 (01:04:10):
There are you

Speaker 3 (01:04:11):
Happy, Okay, let's clean these chimneys.