Episode #233 - Vince Lanci and the Tale of Two Silvers - Gold Goats 'n Guns Podcast

Episode Transcript
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Speaker 1 (00:23):
Hello, and welcome to the gold Goats and Guns podcast
for October eighth, twenty twenty five.

Speaker 2 (00:27):
My name is Tomolowonga. We have a lot to talk about.

Speaker 1 (00:30):
It is episode two thirty three and with everything weird happening.
And I wouldn't say weird because it's kind of good,
but maybe good is weird happening in the golden silver markets.
It's been a long long time. While too long, actually
theft in that long. But every time I don't talk
to Vince Launchy for more than two weeks, I can't
get a little twitchy. But before I bring Vince in,
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(00:51):
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dot com. Vince, how are you?

Speaker 3 (01:35):
I'm good. The longing from not speaking for so long,
he's mutual. I'm leading a hard is out to you. No,
I mean, you know, look, I mean we've had we've
had six months in a week basically, That's what's happened
in the metals. So you know, talk about it when
you can, not when you have to. I guess there's
the way to look at it.

Speaker 1 (01:54):
Well, since we tried to do this last week and
you had to beg off for you know, because you
were overscheduled, you were too much. I you know, I
was not busy, and then I couldn't get back here
for seven days.

Speaker 2 (02:05):
So what's that I was napping?

Speaker 3 (02:07):
I needed to nap.

Speaker 1 (02:08):
You know, sometimes we do, like dude, I did the
week before we were supposed to do that podcast last Monday, right,
but the previous weekend, I was traveling all over the state.
I was down to Naples record a rogan esque podcast,
you know, with some bitcoin guys, and I drove across
the state to visit you know, Chris Marcus and friends
up there, and then I had to drive home, right,

(02:29):
and like you know, I back up to North Florida.
Like I put nine hundred or one thousand, like nine
hundred miles on my truck and two and a half
days without getting any sleep doing multiple podcasts. So I
got like six hours of sleep both nights, and like, right,
I did sixteen seventeen hour days.

Speaker 2 (02:43):
I was amazed. I didn't actually.

Speaker 1 (02:45):
Get sick, right, And and then I came home and
I was like, okay, let's do the thing with Vince.
And then I'm taking three days off. And then you said,
hey man, I don't want to I have to beg off.
And I'm like, that's okay, Vince. I'm fucking exhausted.

Speaker 2 (02:58):
So it's all good man.

Speaker 1 (02:59):
I So, but that being said, I think the one
thing we're not exhausted or is not exhausted at this
moment in time is what's going on gold and Silver.

Speaker 2 (03:08):
And as we sat down.

Speaker 1 (03:09):
The record, I you know, pop open the markets and
I look at them and I say to myself, Okay,
this is something weird. And I know that you've been
killing it over on you know, on Twitter, you know,
keeping people a prized of what's going on in the
silver market. And we have a long standing, you know,
slight disagreement between you and I about what silver's role
is in the global monetary picture. But what's happening right

(03:30):
now is really important. What I noted the minute we
you know, we sat down to do this is that,
for the first time I've seen in years and years,
the spot price of silver is trading forty cents over
the futures price of silver, and it's over forty nine dollars.
And the last time I checked this morning, it was
just barely hitting forty eight, and that was after yesterday's
washout that took it into the low forty sevens. At

(03:52):
the same time, gold is in the same kind of
a similar position. It's been, you know, a typical cantango
with the futures price about twenty bucks over or right
spot price. So, Vinz, what the fuck is going on?

Speaker 2 (04:03):
It's over?

Speaker 3 (04:04):
Okay, Well that's pretty much it. You just you just
pretty much nailed that, Okay, over the last say six
months or eight months with Trump, with the tariff thing
and the fact that we had a a what was
deemed a squeeze on the COMEX because the futures went
into backwardation. Be it behooves us. I can't believe what
us that word. It behooves us to define the word

(04:27):
backward fucking dation, okay, because people are throwing it around
like it's like it's something that you can just use
like a term of art. It actually has a definition. Now,
I'm not going to get wonky on it, but the
backwardation that you're describing now is infinitely more important than
the backwardation we had with the tarif risk. So just

(04:49):
to for a second, to get the tarifrisk backwardation out
of futures in the US trade at spot plus the
cost of carry. So let's say it's forty five dollars
plus the cost of carry opportunity cost. I'm going to
simplify it, call it fifty cents. So silver is forty
five dollars in London, the spot is forty five dollars

(05:11):
and fifty cents in New York. I'm not spot the
futures are because thirty days out it costs fifty cents
to borrow that money. That's a normal situation. And you
just described gold as that. I think where's gold right now?

Speaker 1 (05:24):
Gold is trading at the futures is forty seventy five roughly,
and the spot price is forty to fifty two.

Speaker 3 (05:32):
Right, that's normal. That's normal, and normal is the difference
between forty to fifty two and forty seventy five represents
borrowing over the amount of months you have. That's it.
That's carry Now. During the whole tax squeeze and all
that other shit, what you really had was you had
people buying Comex silver at a much higher price than

(05:53):
they should have been buying it simply because they thought
they wouldn't be able to pull it from London anymore.
So they were front running the TIFFs, the tyres. But
what we're talking about, and that's what I would call
a regulatory or venue squeeze. Oh I can't shit my
silver from here to there. I can't buy my cigars
from Cuba and bring them to the US. I'm going
to buy them before the embargo, which is essentially what

(06:16):
JFK did, right, Okay, so that's what people do. People
were front running the tires, front running the Cuban embargo,
and that turned out to be horseshit, at least for now.
The real problem, which is what we're in now, and
it's amazing that it's slow motion. I don't want to
digress too much. Is this the spot market, whether it's

(06:37):
in London or Chicago or New York. The physical bar
of silver should be cheaper. Well, in gold's case, gold
should be cheaper than the future because gold is money,
and the difference between money today and money thirty days

(06:59):
from now is the interest you pay on the money, right,
and that's why gold is we would you say forty
to fifty two in spot and forty seventy five in
these futures. The difference is the interest rate, all the
other little nuances, that's the difference. Okay, So that's why
the price is higher there. You're like, okay, fine, I
get it. But in a commodity, not like gold, which

(07:21):
is where silver isn't like gold that's consumed you can
get it back, but it's used in industry. It's used
now in a sense like food I need it, like energy,
I need it When that short term demand becomes overwhelming
to the financial aspect of oh the interest rate over
five months? Is this or that you see the spot

(07:43):
market creep up against the futures price. What you almost
never see is the spot market go over the futures
price for any length of time. That means I want
the silver now, I don't want it tomorrow. I'm willing
to pay what we would call use. This is an

(08:05):
energy term. When the spot market in London in this
case is trading higher than the future's market in the US,
that indicates that people want convenience, meaning I don't want
to buy it now and take delivery thirty days from now.
I want to buy it now and have it now,
So the cost of carry becomes a cost of convenience.

(08:29):
I want it in my hand now. And that's where
silver is. And that's the important difference between silver and gold.
Now we have different appreciations for the differences, but I'll
just start by saying, in almost cliche fashion, now gold
is money, but silver is more, meaning it has monetary aspects.

(08:50):
It can't be destroyed, be it can be lost and recovered.
It can't be grown, it can't be fabricated. But industrially
it's cheap enough to use for things. Can't use gold
for anything, And as a result of that, it's inexpensiveness
makes it more expensive. And so from time to time

(09:11):
you'll see silver titan relative to the futures. I need
the spot tomorrow. I mean, you're not going to eat it.
It's not wheat. Why can't you wait thirty days? Well,
because China and India have been buying silver handover fist
for the last year or two, and the US now
is in the act buying it over the last six months,
filling up the comex vaults. And this is where you

(09:34):
get the silver problem. The thing about gold is and
this is I love this about the bullying banks. This
is why they're morons. And not morons, they're rich morons
who get bailed out by the government. Most of the
bollying banks, the bullying banks, for many reasons, have been
so comfortable just being short gold because the worst case

(09:54):
scenario is it's not used. You can always call a
buddy and borrow from him, right, right, and then then
you get your cantango. Oh how much is the price
of goal? It's four thousand dollars. Okay, Well, I want
to bar for for three six nights, three months, ninety days,
so that's about twenty dollars all right. So if you

(10:15):
give it to me now in physical form, I'll give
it to that ideat across the street who wants to
buy it and have it in his hands, and I'll
take it from you at the same price plus twenty
dollars ninety days from now, and the guy goes fine,
and we're done. And that behavior, by the way, all
that goal that people are barring from each other, that's
central banks that are willing to lend it. That's the BIS,

(10:38):
which is the trading arm of the IMF, which is
the banking arm of.

Speaker 2 (10:43):
The WEF, and the Crown Corporation and the City of
London and and and and and and.

Speaker 3 (10:53):
Right. That plays right into like the that we always
end up agreeing from different perspectives. And that's what I'm
getting at. So the bankers on the desk, traders like myself,
will be like, oh, I can get it any time.
And so they do that with gold and they make
money hand over fists for thirty years. Now. They do
that with silver as well, because there is plenty of

(11:15):
silver around for years above ground. But they do it
like it's gold, and they assume that someone's going to
have it. But there's no central bank that has silver. Right.
Central banks have been pissing on silver for the last
ten years now.

Speaker 1 (11:32):
They've been putting those no events. They've been disporting silver
since the nineteen sixties.

Speaker 3 (11:37):
Right right, But I mean they stay finally ran out
about in terms of the offload about ten or fifteen
years right, right.

Speaker 1 (11:43):
Right, And that was always the and that was I
remember back then, just to interject for a second, go
back and do a little history lesson about ten to
fifteen years ago. Whenever it happened when the central banks
finally sold their last downs of silver. That was a
big thing within the industry. Oh, all the commentators were
out there, all the silver bowls are out there going,
this is the moment where silver was going to lift off,
blah blah blah blah. And they weren't really wrong, because

(12:03):
it was right around two thousand and eight through twenty
ten that we saw a huge upswing in the price
of silver. Of course, it got way ahead of itself,
but you know what we wound up with was a
huge blowoff top which everybody, which all the bad guys
made money on and trapped a whole bunch of you know,
muppets at the top at forty dollars, when really the
actual price of silver at that point, given that there

(12:25):
was no central bank vault to you know, to play
the wash game with the lending game with it, was
probably around twenty or twenty five, as opposed to you know,
the four that was trading at fifteen years, ten years
previously when the bull started, right, so one from four
to twenty, but it hit twenty, hit forty nine, even
though that was bullshit price when the reality and they

(12:46):
all knew the different, and they all knew it, they
all made money on the.

Speaker 3 (12:48):
Spread right, by the way, And what are the architects
of that was, believe it or not, of the short
squeeze higher was JP Morgan. Of course, everyone thinks they're
always bearished, not always bearished. Play the game that has
to be played, of course.

Speaker 1 (13:03):
Yeah, I remember, I remember Jim Sinclaire talking about this directly.
You see, he always kept saying that, By the way, folks,
you know, the people who you hate the most are
the ones that are gonna make the most money in
gold and silver.

Speaker 2 (13:13):
That's just the way this world works.

Speaker 1 (13:14):
And if you if you're not comfortable with that, pick
up a rifle and do something about it, or stop
trading it. And I always kept out that I've told
people for years. If you don't want to, if you
don't have the stones to trade Golden's over which most
people don't, you don't have the skills, then trade Microsoft
is a lot fuck load easier.

Speaker 3 (13:29):
Right, exactly. So the silver thing gets interesting because and
this I'm describing what's happening now, but it's it's echoing
what Buffett died in ninety seven. Mister nice guy, mister
nice guy's not so nice. So so what you're pointing
out is, let's start with the math. Right, silver is

(13:50):
trading how many cents overspot?

Speaker 2 (13:53):
It's like it's roughly it's still it's trading forty cents
over spot.

Speaker 3 (13:58):
Okay, great, so let's call it forty cents over spot, right,
I mean over futures. Spot is forty cents over future.
So there's a bar of silver. It's sitting in my hand.
It can't be destroyed, it can't be consumed. Yeah, yeah,
I might have to recover it or extract it from
a phone, but it's here. There's no bowl. Weavil that's
going to eat it. There's no there's no disease it's

(14:19):
going to affect it. And you say, but I still
need it now. In fact, I need it so much
that I'm willing to pay reverse interest rates on it.

Speaker 2 (14:29):
Yep.

Speaker 3 (14:30):
So silver's trading forty eight dollars in spot. It should
be roughly, let's call it. I'm making a number up,
but it's pretty accurate. Every month should add twenty cents
to it. Okay, So forty eight dollars in spot means
forty eight twenty forty eight, sixty, forty eight eighty for
the December futures. That's a sixty cent spread that I'm

(14:51):
making up, but it's probably close.

Speaker 2 (14:54):
Right.

Speaker 3 (14:55):
So not only is silver backwardated from spot to futures,
it's backward dating from spot to ninety day futures.

Speaker 2 (15:06):
Yeah, right, that's right.

Speaker 3 (15:10):
You and I are talking about forty cents. That's a lot.
It's huge, but it's huge. You're by another sixty cents.

Speaker 1 (15:18):
It's ridiculous, right, right, because you should be at you
should be at plenty, you should be at minus twenty,
and you're at positive forty.

Speaker 2 (15:26):
So that's a sixty cent move. And that and at.

Speaker 1 (15:28):
Twenty cents a month, that's a three month that means, yeah,
the ninety day contract.

Speaker 2 (15:32):
That makes sense. Okay, yeah, so it's.

Speaker 3 (15:34):
Even so it's even worse. So the people forget that
the December contract is really deferred, and that's because that
the industry likes to have the December contract be its
prompt contract sooner. So if you'll notice, if anybody who
is a metal person's out there, if you look at
silver and gold, every month alternates expiration, so it's bed gold,

(15:54):
March silver, April gold, right, So but Decembers where they
both line up.

Speaker 2 (16:00):
Oh okay, that was fucking me up. I didn't realize that. Okay, cool.

Speaker 3 (16:03):
And the reason it lines they could have you have
to have one month lineup because of the even odd thing.
But they make it December because they don't hedge quarterly,
they don't hedge semiannually. They all hedge in December. It's
all December, and everything that happens is the December contract, right,
And what happens between January and December is they're selling it.

(16:28):
They're selling like I'm a minor, right, and let's say
I'm a normal operation. I'm hedging my twenty twenty six
production in December. Why there's no crop, there's no bug,
there's no problem. I hedge the whole year in one month. Boom,
it's the same gold. And I sell it to a
bullion bank that's buying December twenty seven, and the bullion

(16:48):
bank goes December twenty seven. I just bought it. Who
am I gonna sell it to to hedge my money
and make my viig like a bookie, And I go, okay,
I've got buyers and spot I've got buyers in one
month out and they hit the bit and they create
this this spread position. They're spread traders, right, they have
to know all this stuff right. So now so now

(17:08):
I'm setting it up for silver. So now a silver
producer few and far between that they are. A silver
producer has been selling you December twenty six, December twenty
seven in silver, and you're buying it, and you're going, ah,
it's a financial spread, it's a cost of carry, it's
a contango. Fuck it. I'll sell these twenty five. And

(17:30):
now these twenty five, which should be sixty cents under
let's say D twenty seven, is now forty cents over.
You're getting reen No different than if you were trading
energy and you were trading spreads. And I know you
do a lot of energy, so it's no different than
being like short you know these dese in oil or
being short of dese these crackspread in and gas to oil.

(17:54):
So these guys are carrying. These guys are short metal
that's going to be delivered ninety days, and they're long
metal that's going to be delivered in two years. And
so they have the same silver. But the guys who
want it, the Indians, the Chinese, they can't be bought off.

(18:14):
They want it now. And so the LBMA, which has
been going like this, uh, you know, I'll borrow silver
for him, a barrow silver from him, and I'll just
I'll just borrow that silver and I'll pay a little
bit of big and I'll mark it up on the
other side and I'll get out. And now that silver
is not there anymore. This is the this is the
crisis of collateral that Pozar was talking about in twenty

(18:36):
twenty two.

Speaker 1 (18:37):
Right, God, no, I got it. And that's that's really interesting.
And then if you add the so you're talking India
and China, Now what happens when the United States joins
the party.

Speaker 3 (18:48):
Yeah, you know this is speculation. But Eric Young, and
you know Eric Young very well. I think you introduced us.
We're all mutuals, of three of us. We should probably
do something together. Eric Young and I were talking about that,
and I'm of the we are of the opinion from
different sides of the tracks that the reason this is
a little bit of conspiracy theory for you, but it's

(19:09):
in this podcast right exactly, but it shows you that
the people and the Trump administration Bessent for example, know
what they're doing. Okay, this is what we concocted. Eric
and I. We believe that between Trump's election and Trump
going in office in January whenever it was January twenty sixth,

(19:32):
China said, and India said, well, stop China and their buddies, right,
China said, oh shit, Trump's going to be in office.
He did tiriffs last time, he might do it this time.
Let's start to dedollarize a little faster. And around this
time you started to see the things that I have
been talking about, which is the vaults are being built,

(19:52):
the network vaults are being built, the internationalization of you
want and so they're selling bonds and they're buying gold,
and they're setting up and they're doing contracts and renembi
or y want how you look at it. And I
think the US finally woke up and started paying attention
to these facts. Number one, China has been taking off

(20:14):
our copper and silver scrap out of the US for
the last ten years under the radar. And that comes
from the copper part comes from I'm not sure if
I can say his name, but comes from a amount
of minding. A fabricating professional who said that all China
has been doing has been taking our scrap copper out
through Atlanta. There's a big refinery there and they've been

(20:37):
taking it out. Now, I had identified that China had
been buying raw silver unprocessed in Latin America before it
even hits the market. So they're cleaning out all the crap,
not affecting the price, and they're doing all that, I
think to stay on point. I think by the end
of the year, the US figured out that that was
going on. Now he probably knew it, it just wasn't a priority.

Speaker 1 (21:00):
Or the Biden hunter didn't care because the Biden Hunter
didn't work to the United.

Speaker 3 (21:03):
States right right exactly. That's that's that's the that's.

Speaker 2 (21:07):
The more that's the more obvious play.

Speaker 1 (21:09):
They just turned a blind eye to everybody raping us
because they were they were setting us up for dissolution
after the twenty twenty four election because they all expected
Trump to be shot and killed in Butler, Pennsylvania and
we'd be on a different timeline. But we're not on
a different timeline. So Trump comes in in the minute
by Trump starts with moving, you know, in with descent.
And I remember or Besson remember that he was all

(21:31):
set to be Howard Lutnick as as Treasury Secretary, and
then somebody introduced him to Scott Besson and two weeks later,
three weeks later, Scott best this Treasury because god, all
I know, I agree completely, but understand that that this
is a very big, big, big point because Besson understands
this these things because he's had a front row seat

(21:52):
to how to manipulate currency, bond, gold and silver markets
trading with George Soros all those years ago, right, and
he knows exactly where the bodies are buried, and he,
by the way, knows who the fuck Sorows works for, right,
never ever under a and if you are not if
there's some reason you think that George Soros works for

(22:13):
the WEF, and the WEF isn't the fucking crown, and
you know all of this isn't just I six. I'm sorry,
I'm sorry, folks, you are missing the freaking point. My
friend Richard Poe has the receipts on this. George Soros
has been working for m I six since the day
he was recruited to seventy years ago. Like the bullshit,

(22:33):
everything he's ever done has been done in service of
London and the euro dollar system and everything else. That's
what he's always done, including taking out Maggie Thatcher and
shortened the pound in order to get them into the
europe into the into the European Union. The goal eventually
was to take was to get them into the European Union.
The only way that was going to happen is if
you got rid of Thatcher. That it's not fucking outrageous,

(22:55):
but it's it's it's not even outrageous, dude, it's literal
history that has been washed because the retort soars is
literally the most protected person other than a Barack Obama
in the media.

Speaker 3 (23:08):
No before I let me explain what outrageous means we've
been here before, you have said something. I said, wait
a minute, that's a little bit out there. And then
three months later I go, oh shit, because you're connecting
dots based on relationships and people and nations, and I'm
connecting dots based on commodities and price and profit. So

(23:29):
I'm following money. You're following money as it goes through
individual relationships. And I'm incredibly naive with this whole you know,
m I six, you know stuff. But you know what
about a year ago I started plugging into that, and
it's so true. Like I look at Elon Musk, for example,
and I go, oh, Trump won, Elon Musk is going

(23:51):
to good I mean, I said this, Elon Musk is
going to go to Argentina and he's going to promote
democracy there, and Argentina is going to become our ally
in Latin America, and I go, holy shit. And then happens.
Then we're gonna then we're going to demonize Venezuela and
we're gonna demonize He's gonna and I will wait a minute.
These are basically influencers. So what I'm getting at is
I think that Soros is a finance guy who buried

(24:17):
the Bank of England. What he is is he's using
your lens now and not saying I'm saying it's outrageous
that I haven't thought of this. Okay, it's not outrageous.
I mean it's not rageous. Wrong, Like a year and
a half ago, Pal's not going to ease Pal's not
going to ease. Pal's not gonna ease me. Yah, you're wrong. Yeah,
you're wrong. I'm like, oh, he's right, Oh shit, he's right.

(24:39):
So so and then it ties in with the whole
wef and all that shit, and that happens. So now
I'm looking, look, you come to me for stuff that
I look at through my lens and out here to
pick your brain as well. So to bring it back
to President on Soros. Here I am with the advanced
intelligent version of Soros. He saw that the Bank of

(25:00):
England was having problems and he shorted the pounds, and
as a result of that, he's a powerful person. No,
you're saying. Since World War Two he has been an
asset of m I six because of his relationships, and
like any good asset, he gets paid or financed with

(25:22):
windfalls of contracts like Elon Musk. Did you know that's
how it works? And I'm not familiar with that. So
when you say to me that Soros is a kept man,
I say, outrageous. But you know what's fucking probably true.

Speaker 2 (25:40):
It absolutely is, dude. The more you watch, the more
you watch it, the more it's obvious, like it's it is.
But we're off point. We're going back to Let's go
back to what we were talking about.

Speaker 3 (25:51):
He's going to factor in, by the way, Oh of.

Speaker 2 (25:53):
Course he is.

Speaker 1 (25:53):
Oh no, of course he is, because Trump is actively
now going after him.

Speaker 3 (25:56):
No, no, no, I'm not saying you're wrong. Soros factors with
silver in the past.

Speaker 1 (26:05):
So let's so let's but let's put a bow onto
what we we got off on the distraction of me,
and so let's go let's put a bow on on
on that part of the podcast. So we know that
silver that now the Bank of England or the l
B m A and everybody else they are in serious
freaking trouble. Here is what you're trying to say, this
is different than what we've seen before, that this is

(26:28):
a structural problem, right if I if I'm reading you correctly, right,
So now, now go through why you think this is
not going to change anytime soon? Because if the United
States has joined India and China and or Russia through
proxies to drain the silver market, now we've drained from

(26:50):
the LBA, Now we're draining the l B m A
of the silver, what are the net effects here?

Speaker 2 (26:55):
And what do you I mean?

Speaker 1 (26:56):
Because really, I mean the big question it has on
it has here is how far can this can go?

Speaker 2 (27:00):
So I didn't even think it can go this far.

Speaker 3 (27:02):
I think it's going to be a series of short squeezes,
a series of many squeezes. But but I can tie
your politics with with my observations with regards to silver. Now,
does do China and India want to destroy the silver market?
Do they want a corner the silver? No? No, no,
they want to destroy the pricing power of the West

(27:23):
over key commodities. And if you take the break, this
is our first conversation about this stuff, when we were
talking about if you can get the pricing power, you know,
turnose machines back on. If you can control the pricing power,
then you can reward the other brick stations that produce
these commodities and you can drive them higher.

Speaker 1 (27:43):
So so all I want to say is Interjack can
say that first conversation we had about this is the
episode titled Vin Swanci and Gold is the New Black,
which is where we started talking about all of this
stuff like three years ago. And I'm going to make
sure that there are linked in the show notes that
keep coming back to that one. It's almost as important
as where I explained Davos and the five basis points

(28:04):
that that that that that change the world, that podcast
events has paid so many dividends down the line. I
am personally dude, like, as far as I'm concerned, thank
god we did it, because it's the it's the receipt
that has now just complain paying dividends over and over
and over and over again.

Speaker 3 (28:23):
We constructed the roadmap for the marketplace is using your
geopolitical insights and my understanding of how the market had
to move, how things were going. And yeah, it's been
a roadmap, and so we're here to just we're here
to go through that now because having that roadmap in
our pockets allows me to say with confidence the following right,

(28:44):
China wants to reduce the West, the US is stranglehold
on the pricing commodities, because that is one of the
pillars that supports the dollar as a global reserve currency.
And that's not a paranoid statement, that's just how it works. Okay.
So so I believe, and this is where Eric Young

(29:05):
comes in. I believe, and Eric believes that whether it's
because of the scrap leaving the country or the accumulation
of China, or they got wind of China getting into
the process of making gold an hqla Asset Besentz said,
this is me. I don't know. I'm pretty sure I'm right,
but I don't know. But at some point we said,
oh shit, we better start getting our silver and our

(29:30):
gold back. We repatriated what was ours that was held overseas,
we bought more and ad more, and that was the
federal reserve, not the federal reserve, but the government itself
buying some. Now I have made the joke and it's
actually not a joke that you know, if you open
the Fort Knox vaults you'll find moths and IOUs. You know,
there's no gold left in there. But I think we

(29:52):
probably have as much, if not more gold. And so
the panic at the end of the year.

Speaker 2 (29:57):
Which is which is which is interesting that you say
that must stop you there.

Speaker 1 (30:01):
You and I talked, I guess gu six months ago.
I think you and I were talking about this very thing.
And this is the first time I had I started
thinking about this very thing early and Besson's tenure when
I started watching them dreaming the LBMA back in February,
and I'm like, dude, I bet you there's more golden
in Fort Knox than than there's honor balance sheet. Yes,
I'll bet your dollars a dogshit. Bran Johnson said the

(30:21):
same thing. But but he and I and you are
maybe the only people saying that. Everybody else is still
out there screaming that.

Speaker 2 (30:28):
The United States doesn't have anything.

Speaker 1 (30:30):
I'm like, oh, bullshit, that that gold is knock gone
anywhere right, based out one.

Speaker 2 (30:34):
Hundred times over. That's a different story.

Speaker 1 (30:36):
But you know what possession is nine tenths of the law,
and contracts are made, and contracts are made to be
renegged on. Sorry, counterparty risks, get over yourself.

Speaker 3 (30:43):
So let me let me put a let me underline
that so people understand the point. I want you to
imagine that the US, not imagine has happened. The US
Treasury through the Federal Reserve loaned its scold out to
the bullying banks starting in Clinton's Clinton's first term ninety
two ninety three. That was Greenspan having a conversation with

(31:08):
shit Ruben Uben okay, right, and Clinton, who at the
time said, and it says not me talking, this is
research and it's been documented saying we Clinton said, as
a neoliberal, he said, I need to appease the bond vigilantes.
That means we need to keep gold in its place.
And so the boy in bank said, I have an

(31:30):
idea loan USh your gold. We'll give you fifty bases
points for it, and we'll give you an IOU figuratively
or literally, and we will just sell it into the
marketplace and keep a lid on it. Green Span was like,
that's great, because he understands gold. The Fed was like,
that's great. We get to do something with the pet rock.
And Clinton's like, that's great. The bond vigilantes have to shut.

Speaker 2 (31:53):
Up and I get to balance and I get to
balance the budget.

Speaker 3 (31:57):
Yeah, exactly, And so for years that went on. Now
this part is observation. I don't have a substantiation for it.
But in twenty twenty three, the JP Morgan, City Bank
and a couple of other banks had off their books

(32:17):
in a separate account all of their gold derivatives exposure,
and that was I believe that was the derivatives exposure
tied to the IOUs, tied to the goal that the
US loaned them. So the US didn't sell the gold,
it loaned it to them. And I believe I can't

(32:39):
prove this, but I believe that at some point Bess said,
oh shit, China really is going to do something with gold.
We want to have more and not less gold, because
if you look at the mar Alago agreement, it says
we need the gold so we can hedge it all
these other financial things aside. And best End said, let's
get our gold back, and so he probably started calling

(33:00):
IOUs from JP Morgan said, you've been carrying that note,
rolling this gold over thirty years. We want to make
sure you have it. You got it, and I'm sure
JP Morgan said yeah, we do. And they said, just
give us six months to get it. And so all
that gold started coming back. All that gold that came back,
it's like monetary gold, non monetary gold. You know your
mother's you know, crucifix, your cousin your you know, I mean,

(33:22):
everything was coming back and being melted down, and that's
why the refiners. So I believe we took back the gold. Look,
if i'm JP Morgan and my note's getting called and
I have to buy let's say ten tons of gold,
I'm gonna buy twenty because I'm.

Speaker 2 (33:35):
JP Morgan, right, so here of course, right.

Speaker 1 (33:38):
And then when you use that other ten to buy,
I'm gonna use that as the ten and then hedge
it and use the profits off the heads to buy
another five and the end becomes twenty five.

Speaker 2 (33:45):
Like you know what I mean, that's of course we're.

Speaker 3 (33:47):
Gonna hypothecation works both ways. We just of course good
buy now. Okay, So now you've got lmon. This is
like this place right to your hall. Like London is
a piece of shit thing. And it's true. London is
in the middle. Having been and I say this genuinely
before we met, London has been preserved as the financial
center of the world as a convenience to us, and

(34:08):
because the financial center of the world was between Europe's
old money and America's new money. In Asia was an afterthought.
So London works in the middle. We can trade both
sides of it. But as we're pulling our gold and
our silver back, and then some China and India are
as well. They have been doing it for years and

(34:30):
we've look, we're the incumbents. We can afford to wait
to the last minute. That's what we did. And so
who's in the middle there, Well, you've got London which
the LBMA. For those of you are not familiar, the
LBMA is nothing. The LBMA is the table that sits
in between the bullion banks. It's the association that regulates it.

(34:53):
It's the bureaucratic Yeah, post Bretton Woods, Neo Keynesian piece
of ship thing that we don't need. No, I'm not
saying we don't need bureaucracies in some level, but I
am saying this one didn't do its job or.

Speaker 2 (35:09):
Or or it did its job very very well.

Speaker 1 (35:12):
Ben's all depends on your point of view, Okay, from
our point of view, now, it didn't serve our interests
and serve the high tables interests or Davos interest or
what you do I want to call them, Yes, you're
in you're calling them the dinner table that we all
they It's perfect because I've been I've now been I've
been now using the john Wick idea of the high table.
Oh yeah, the high table is so fucking Davos is

(35:34):
not funny, like the whole like so and uh and
and and and we are john Wick like okay, so,
but my my point being is that that the l
b m A existed, and this is the it existed
in order to keep a lid on the price of
gold and the whole gold vault washing thing in order

(35:55):
you know.

Speaker 2 (35:56):
That this this was the whole point. Now clearly enough.

Speaker 1 (35:59):
I read some stuff the other day that finally I
connected all these dots that I've been like standing, I've
been like over this target for years, and they like, look,
the Crown Corporation, you British East India company morphed into
and became the IMF, the Bank of International Settlements, all
of this stuff, it's all the same company, DCCC, It's
all the same fucking thing. The Crown technically owns all

(36:21):
of these assets. That's why you can't say, oh, the
British Empire's over. There's a bunch of fucking you know,
they're just a bunch of sexual f type you know,
the Uppercross twists of the year.

Speaker 2 (36:34):
No they're not. They're absolutely still fucking running all of
these things.

Speaker 1 (36:39):
And you have to once you like make that a
like you you instantiate that and like make it. You're
raised on death where you realize you're just fucking everywhere
and you're like, oh, that's what Trump is doing. And
then you realize that all of that ship, concluding the
gold manipulation, the currency manipulations of FORX manipulations and everything

(36:59):
else are all run by organized crime because they run
all the organized crime sitfigats around the world as well. Right,
utalize that, then you understand why Trump is bombing Venezuela, right,
why he's doing this, why he's doing that. All those
things make perfect sense now when you see it from
the from the literally the John Wick high table thing,
because what is the John Wick movies so all about

(37:20):
fringing the organized crime and the separate organization of organized crime,
right exactly.

Speaker 3 (37:29):
You know, you reminded me of when we were having
these conversations before, and I was going, oh, yeah, he's right,
oh yeah, he's right, and and and the answer was,
when you strip all the bullshit away, you find out
Kui Bona, who benefits and the flip side, who gets
hurt whatever the opposite Kui sinestra. I'm sure, but but

(37:55):
when you know, I look at I tried strip stuff
down and I go, you know, so Neo cunn and
I'm like, going to Suez Cane. I'm like, all right, So,
so who benefits to us benefits? But I never look
at I never went that far. So when you say,
for example, Israel London, w e F Davos, I go

(38:16):
w e F Davos, I m f b I s
I don't see the crown, I don't see London. And
so that's the missing piece from me. And if you
just go who really, really really benefits, it comes down
to the financial center of the world that doesn't want
to give up. The financial centerness of the world, of course,

(38:36):
which is the euro dollar bankers and the euro dollar
bank right.

Speaker 2 (38:40):
And the Eurine and the center of the eur dollar
banking system is in London, Zurich, Frankfurt, Venice mostly still London,
and and and to what us works in New York
and yeah, but.

Speaker 3 (38:52):
They work or not they're like, oh my god, please
don't have those like that.

Speaker 1 (38:55):
Just and so so one of the interesting parts about
all this so what we describe tier. So one of
the one thing, let's just put a bow on the
on the whole silver thing, is we should we should
expect to see this backgardation in silver. It's sixty cents now,
it'll be forty cents in November, it'll be twenty cents
at the beginning of December, and then it should go

(39:17):
away if the market's going to balance. Now, the big
question I have for you, Vince, is given that you
know this is the situation, do you see the silver
producers now going into twenty twenty six is production and
hedging it all out to December twenty twenty seven, or
do you see them go or do you see them
like pulling that forward and going I'll head it to
you until the end of Q one or Q two.

(39:39):
Because if that's the case, in the silver market fundamentally changes,
and everything we thought we knew about the term structure
of the silver market is going to change as well,
because if the producers refuse to sell forward a year
in advance.

Speaker 3 (39:53):
Okay, I think the effect of what you're talking about
is going to happen, but the player won't be the producers.
So okay, okay, So let's start with the producers. People
understand mine and know there's not a lot of pure
silver producers. There's not a lot of pure silver production.
And silver production has been in deficit for the last
x amount of years and that deficit is still there,
but it's starting to decrease a little bit, but there's

(40:15):
not a lot of offload. The two main sources of silver.
Let's say you need silver to make delivery, you need
silver to put it in the SLV vault, you need
silver for whatever reason. The two main sources are above
ground silver and those but they're not centralized under central
bank windows anymore. As you noted, they've offloaded that shit

(40:37):
over the last thirty years. Okay, so who knows where
to find this silver? The bullion banks? JP Morgan is
the one that's most informed. And I say that in
a nice way, not in a bad way, James Morgan,
because the two sources of silver above ground, because we

(40:58):
don't have enough coming out of the ground to be
sort of regular basis, are scrap which comes out in
big chunks at a price, you don't know about it,
and boom, it just comes out. We haven't seen any
scrap come out in a while since the mid thirties.
The other one is, and this is the one that
I do have some understanding of more detail, is most

(41:22):
of your silver production is not as a primary metal.
It's as a waste product of zinc, nickel, copper. And basically,
you take you I'm sorry, you're gonna say something gold, gold, gold,
right exactly. But the thing is, if you were to
open up, it is, but they pull most of it

(41:43):
from base metal mining. Yeah, and so I'm a nickel miner,
I'm gonna pull them. I'm mining for nickel. And I
take my waist and I put it in a pile.
And in the old days they would call that heap leaching.
So you throw acid over it, you know, and you
pull the silver out, and there's your silver. And it
was a waste product and it stood there and at

(42:04):
a price you sold it. Or JP Morgan came by
and said, hey, you got any silver laid around? And
so they go and they would start looking for it. Now,
why JP Morgan, Because you do your banking with JP Morgan,
because they took you public, because they give you the
free toaster for your checking account, and so when right,
and JP Morgan says, you're gonna work with us and

(42:28):
take care of you. And so they're like okay. And
so that's why base metals are more important than silver
to determine silver. When I get my when I get
when I get reports on commitment of traders. For years,
I didn't understand it until I actually paid attention to
fundamentals as you would see commands. You know, you see
you see your saw if you see your grains, and

(42:49):
then you see precious metals and you see and they're
segmented like this, precious and base metals, and most of
the banks just threw them all together, right, But Marsius Banks,
the Goldman sachs Is would actually show me what was
important because in precious metals you had just gold. In

(43:12):
PGMs you had platinum, palladium, rhodium, whatever the right.

Speaker 2 (43:19):
And then.

Speaker 3 (43:21):
This is a base metals, you had copper, aluminum, zinc, nickel,
and silver.

Speaker 2 (43:28):
And silver was in the base metal group.

Speaker 3 (43:31):
Yes, if you pull up certain bank reports, they will
throw the silver in with the basements. They won't even
put it in the precious metal side because they get
their silver from their industrial metal people and they look
at it economically. I mean that's it.

Speaker 2 (43:50):
So no, it makes perfect sense.

Speaker 1 (43:52):
So now now now I'm gonna bring I want to
bring something up to you because Goldman came out this morning,
this morning or yesterday with a report I know it.
The other day I saw, I saw the price of
copper popped over five bucks a pound, right right and then,
and Goldman is now saying that ten thousand dollars a ton,
which is five dollars a pound, is now far Now
interestingly enough, I just and I saw that this morning

(44:14):
did the market report.

Speaker 2 (44:15):
This is literally a Wednesday.

Speaker 1 (44:16):
We're doing this in the morning, I do my market
report for my patrons, and I of course forgot.

Speaker 2 (44:20):
I'm like, oh, it's the Q four. I haven't updated
copper in a while.

Speaker 1 (44:23):
So I popped up and then put together the monthly
quarterly charts for copper, and.

Speaker 2 (44:28):
Oh, by the way, do you see the unbelievable.

Speaker 1 (44:31):
Freaking fight over five dollars a pound in copper like
it has been on, especially at the monthly level. The
chart is all the charts, fucking crazy pound. But again,
this is tying back into silver, because if you can
keep the price of copper down, then you're keeping the
price of silver down. Because it's because silver is a
byproduct of comper mining.

Speaker 3 (44:50):
Right right, So you know in fact it's in your inbox.
And I know you're busy, but I sent You're a
founder on Golphicks, so I sent you the I sent
you that report broken out. You have that you can
share that with your with your patrons if you want, Okay,
as long as it says behind your Patreon wall. I
don't want to get in trouble with my source, who will,
you know, beat the shit out of me.

Speaker 2 (45:11):
But but but to.

Speaker 3 (45:13):
To to to to make your copper silver thing real.
I'm gonna tell you what I tell my subscribers, and
I've been saying it since I was a floor trader. Historically,
when goldman is bullish gold, they buy gold and they
short silver because they want your precious metals. They don't

(45:37):
want hybrid precious metals. So you buy a million dollars
in gold, you sell a million dollars in silver, and
so how much money you tying up? Nothing? You're doing
a metals cash trade. You're doing a carry trade. And
when they get bullish copper, they recommend copper, they buy
copper and they sell silver because it's not a pure

(45:59):
industrial but it's deved it's valued preciously, but it's derived
industrially right now, for the last twenty years, I have
known that, and I've watched it, and I've said, okay,
they recommend copper watch silver lag in the rally, and
it lacks. They recommend gold watch silver lag. Now, about

(46:22):
a year and a half ago, silver started. About a
year ago, silver started to percolate, and there was a
report that came out from a bank I'm not going
to say who it was, and they said silver should
never catch up to gold. Silver's not being bought by
central banks. Okay, I agree with you. Silver's not this, Okay,

(46:44):
I agree with you. And silver, I swear to god.
They said silver tarnishes and I went, are you fucking
kidding me? Like, that's an institutional reasons, not by silver.
And they never said anything negative about silver again. They
never went positive on silver, but they started getting bullet
not gold, and they started getting bullish copper. We like copper,
we like coppercing. Oh okay, okay, So you're no longer

(47:07):
hedging your copper long with silver shorts, so I piled
it to copper on a step trade. Yeah, and your.

Speaker 1 (47:14):
Point is now I'm laughing Vince, because I'm watching you
do exactly what I do when I'm reading headlines, but
you're reading these, you're reading reports within the banks and
how they're Yeah, no, it's unbelievable.

Speaker 2 (47:30):
It's not the same.

Speaker 3 (47:31):
It's the same thing. So so so to to to
caption your picture, it's when Goldman Sachs says they're bullish copper.
They are no longer selling silver against their copper long
they're probably buying silver based on what I've seen. So
that's what's happening now, and that's it.

Speaker 2 (47:51):
And now they're both going up at the same time.

Speaker 3 (47:53):
Correct, Now they're moving right. In fact, it's like is
it a precious metal? Is it a base metal? I
don't care? So you know, throughout the night and oh.

Speaker 1 (48:00):
Actually let me, let me, let let me just think
about this for a second, because they're still really trying
to fight the fin dollar level on copper.

Speaker 2 (48:07):
What if it's actually the other way around.

Speaker 1 (48:09):
But if they're actually, oh, yeah, this is the foreign copper,
and they don't and they think that's as far as
it's going to go, and they're now actually selling copper
shorts against their silver lungs because they're in such.

Speaker 2 (48:18):
They're they're they're worried, they needed I mean, what if
that's the I mean, I'm just throwing it out. I'm
just thrown it out there.

Speaker 1 (48:24):
I know you're I know the world's ries at me,
but I want to know.

Speaker 3 (48:29):
That's what happened over the last two months. Okay. So
so I'm not saying it's not done happening, but I
want you to. I want you to look at it
this way. Half the world that's an institutional macro discretionary
investment fund has been long gold because of geopolitics and war,
and short silver to raise the capital. The other half
of the world says, pal's going to ease. I want

(48:49):
to own an economic commodity. Buy copper sells silver, right, right,
so you buy twice as much copper as you sell silver.
So in a world, in a Wall Street derived world
where everything is a specialization, I want the pure play
on X. I want the pure play on Y. Silver

(49:10):
is the excuse, the euphemism, the redheaded stepchild, the orphaned metal,
and so it's not perfect for anyone. Well there's redheads
in my family, right, It's not perfect for anyone. So
it gets lumped in with everything. Now in an environment
where all metals are being loved, and the writing was

(49:31):
on the wall for that. About a year ago, all
those smart funds that were long gold and sold silver,
they covered their silver, they bought all their silver backs,
sold half their gold out, and in April of this year,
macrodiscretionary got long. Now we know, I know that you know.
Goldman sees those flows, and Goldman's like, all right, time

(49:52):
to get out of your silver. Silver's in play. The
other way, tariffs awareness China buying all that stuff is happening,
and so the end result is silver is now something
that is probably in the process of being bought against
selling something else. So if I were to say to you,
as a macrodiscretionary fund, the next leg higher is going

(50:15):
to be all about silver outperforming goal because I think
the banks have hit their level of goald where they're
not going to chase it anymore central banks. But now
you got Russia, you got sovereign funds, you got the
Saudi Arabians buying silver. So silver is going to outperform
on the way higher for the next leg higher. So
I'm gonna buy silver, cell gold, or I'm gonna roll
my gold into silver or I'm going to roll my
copperate into silver. Now it's gone from. Now it's gone from.

(50:37):
I need the perfect tool, so I need to covers everything.

Speaker 1 (50:40):
And that's what silver and that's and that's a very
good point. And I'm gonna and and what I'll say
is you're seeing this already.

Speaker 2 (50:46):
Oh, by the way, the gold and silver.

Speaker 1 (50:48):
Now, I know i've probably I probably haven't shown this
to you though I know you're a subscriber, so you've
probably seen me with my big twenty five year chart
of the gold and silver ratio with the with the
best bit line right, Well, what was the what was
the high it was April in April, not the number,
just where was the high? It was in April on
the tariff tantrum. So gold outperforms silver up to the

(51:10):
tariff tantrum.

Speaker 2 (51:11):
And now it's over. And now we're now we're staring
staring at prices.

Speaker 1 (51:15):
We're right at the fulcrum or right around eighty to
eighty five on the on the gold silver ratio that
you know, listening to what you're saying, and I agree
with you.

Speaker 2 (51:24):
I think we've made the turn.

Speaker 1 (51:25):
Now we're going to go lower. The question is how
low is that ratio going to go? And now when
I hear shit, like when I start hearing people say
things like thirty five or thirty, I'm like, yeah, no,
not again, no, but fifty fifty five, sixty absolutely right right?
And so but then when we hit that bottom, that
bottom is going to be another major geopolitical event. I

(51:45):
don't know what it's going to be. I can have
about six or seven things that I can make it.
I can I can turn it into. But it's but
clearly that's where we are. And as for people right now, yeah,
I mean, if you if you use the long term
trend of the gold and silver ratio as your to
how you should be either long or short, if you're
doing futures, or how you're biasing, you're buying. If you're

(52:06):
above the line, you buy silver versus gold. If you're
blowed the line, you buy gold versus silver, meaning you're
just accumulating.

Speaker 2 (52:12):
You're an average retail investor.

Speaker 1 (52:13):
I always tell people above the line, seventy five percent silver,
twenty five percent gold of your money, and you know,
vice versa on the downside, because you're gonna you're gonna
play the ratio against each other in long in the
long run, you're going to maximize your your savings dollars,
right right, right, So, but the futures creators can use
use the thing in exactly the same way if the

(52:33):
you know, the tool is exactly the same way. So
my point being here though, is that when we start
getting into this next year, all the signs are I'm
when I'm trying to tease out of this podcast, and
my goal here is I am unnerved by the speed
by which gold is moving and silver removing. I'm unnerved

(52:55):
by it, not because I don't see the geopolitical stuff.
I don't see the incentives as to why the world
has changed. We went from central banks being and the
United States and more importantly, the entire old financial system
of London, New York, Chicago, Zurich. That whole complex used

(53:15):
to be short the metals structurally.

Speaker 2 (53:18):
In order to prop up the dollar.

Speaker 1 (53:20):
Now we have best at running a week dollar strategy
to impose to fuck them on the tariffs even harder,
and to recapitalize the middle class in the United States.
And go back to another conversation you and I had
about setting up the offshore dollar big versus the onshore
dollar Veig. I think they're setting up both of these

(53:42):
things at the same time. Gold and silver play into
these things, and that's why we have to have an
offshore dollar that costs more than an onshore dollar. And
by braining the world of the silver and gold and
then collateralizing it some way for domestic purposes, Oh, Bob's
or uncle, that's your path to a lower cost of

(54:02):
capital dollar for US domestics and US corporates versus anybody
who needs to borrow dollars who still short.

Speaker 2 (54:09):
Them and they're going to borrow them at higher rates.

Speaker 1 (54:11):
All of this is tied together and in all fucks
City of London, because at the end of the day,
this is about the United States, the clearing and finally
putting paid the declaration of independence by July fourth, twenty
twenty six. That is Donald Trump's plan. He has made it.

Speaker 2 (54:29):
Abundantly fucking clear. He went to in my mind, went
to London and offered terms of surrendered to the king,
and the king.

Speaker 1 (54:35):
Told him politely to go fuck himself. Well, okay, now
it's on, like Donkey Kong. Now I'm taking out your
now king sausage fingers. Now I go to war completely
on your organized crime network around the world. Now I
set things in motion that make middle management attack upper management.
And while they play the game, and we start taking

(54:56):
out layers of upper management, upper management being people like Soros. Okay, okay,
those guys have got to go because once upper I,
once enough upper management goes, then the high table no
longer has any enforcers.

Speaker 2 (55:09):
Right right, That's Trump's strategy. This is a mob war.
And he's got fucking best after mine.

Speaker 1 (55:16):
And he's got best and the Treasury and the and
the Federal Reserve running the biggest fucking operation we've ever seen.
And it's glorious, if you want my honest opinion. Now
that being said, the question then is if all those
things line up, how high can they go? In the scenario.

Speaker 3 (55:43):
That's to do all that and then throw throw me,
throw me the price, all right, I got no.

Speaker 2 (55:47):
No, no, no, no, no no no. I don't need to
even I don't even need to throw price at you.
But I need you. I know you have an answer,
but let me.

Speaker 1 (55:54):
But let me just say I didn't mean to put
you on the spot and say give me a price, Vince. No,
what I'm talking about is you can talk in qualitative terms.
I'm happy to do that, So go ahead.

Speaker 3 (56:04):
Yeah, no, no, no, And I'm just walking with you. You're not
putting on a spot. I mean, you know, I was.
I was. I was about to do it, do a
deep learning dive on geopolitical you know, mechanics, and I'm like,
wait a minute, we're talking about gold and silver again.
That's what I was thinking. So so so the I mean,
there's so many ways to answer that. But but but

(56:25):
what I do want to say is is is is
what I want to start with something that you mentioned.
You mentioned on shore versus offshore money? Yeah, dollar, Okay,
could you could you say that to me again? Because
it matches up with something that I'm saying.

Speaker 1 (56:43):
Okay, what I'm talking about, and it's something that you
and I have talked about in the past, And be
honest with you, I think you and I were the
first ones I ever even.

Speaker 2 (56:50):
Posit this in public.

Speaker 1 (56:52):
I mean, really, which is that the United States is
setting up? I think there's a number of things that
are happening here that is being said up to be
completely reformed, to be a different entity than it is currently.
It's not its job will no longer be to backstop
everything imaginable, and and be and be the banking regulator
and all these things that you know, we never wanted

(57:14):
it to be. Basically, we want the FED to stop
being the fucking Bank of England, right, Okay, So we
need to get back to something closer to the original
conception of the FED, where it's an onshore it's a
it's a defender of the offshore price, of the horror
value of the dollar to offshore markets, and a defender
of the domestic corporate paper markets, which will then keep

(57:36):
the cost of capital inside the United States lower than
it would be overseas. So that's the thing I'm talking
about here. We have the tariffs are the are the
the lever by which to turn that crank to keep
that arbitrage, that that that wall up. That's what the
tariffs actually are, along with the ability to you know,

(57:57):
sell dollars into the market and internationalize through the stable
coin market and everything else. Okay, So that's what I'm thinking.
And I know why the government shutdown. I know why
the Democrats are committing ritualistic suicide over the shutdown, but
we'll get to that later.

Speaker 3 (58:12):
But I want to the reason I asked. That is
because I wanted to make sure of your hierarchy. Short
dollar was gonna be worth more than the on shore
dollar in terms of availability.

Speaker 2 (58:21):
Absolutely, absolutely, right, So so so this.

Speaker 1 (58:24):
Cost the capital inside the United States two percent and
offshore five percent. Right, it could be fifty basis points,
but I'm just going with two and five.

Speaker 3 (58:31):
Just what I wanted to make sure because because that
is what Trump and best sent are doing. Now they
haven't said it that way, but I want to spell
this out from a from a from a plumbing point
of view. The United States seeks to keep looking I'm

(58:52):
saying what you're saying in a different way, and then
I'm going to go into the plumbing of it. Right,
the United States wants to keep liquid deep in the US,
which will mean a weeker dollar. That's all very inflationary,
I know that, but that's what we're talking about here.
This is geopolitics thing. And at the same time, make
the dollar off shore deer by deer, I mean expensive

(59:15):
something value, make it a store value offshore, and make
it a means of commerce on shore. Okay, Now, there
are many ways to do that. Tariffs is a way.
If you want access to our customer base. You're going
to pay us a dollar maybe a weaker year, what
you're going to give us a shift ton more of
them to do business here. Fine, that's one way. A

(59:35):
second way is, and this is the way that we're
moving towards, is a market access charge. Now, you and
I have talked about this access charge is a nice,
fancy way of saying this. One of the problems that
the US has is that the dollar is too strong overseas.
Now I'm not saying we don't want it strong overseas

(59:56):
compared to on the domestic side. What we want is
we want a dollar to be strong for trade purposes,
not for parking lot purposes. So, because we have a
global market, because you can hit a button and throw
your money into dollars, that makes the dollar too unnaturally
used as a free parking spot. Everyone parks their dollars.

(01:00:20):
They're parks their money in dollars until they need it,
and that makes our currency stronger than it needs to be.
Now we've tolerated that, we've lived with that, we've worked
around it, wink wink. But now we need that to stop.
And the way to need that to stop, as I
just said, is the two tier currency. Now, how do

(01:00:40):
you make your currency offshore strong and onshore accessible. The
way to do it is you have a money access charge,
a market access charge. So you say you can no
longer convert your euros into dollars free of charge. There's
no longer a free transfer that the bank gets in

(01:01:01):
the middle of it makes a little bit of big
on that's gone. You need to have I'm making this up,
but I'm not far off. You need to have a
contract with us if you want free access to our
nightclub beyond the velvet ropes, you have to be a member.
And to be a member is you have to cut
a trade deal and you have to invest money in
foreign direct investment, and we're going to give you carte

(01:01:24):
blanche dollars in dollars out. But that's what we're doing
now to put this, to put this in a in
a more retail, more accessible version. Remember when ATM started,
they were all free then in the beginning, and then
when you realize that some are more powerful than others,

(01:01:46):
what they start doing. Well, I can get my money
from a Chase ETM or any affiliated bank for free,
but a third party bank it costs me two dollars.
It cost me a dollar. So if Chase is number one,
and Bank of America, let's say, for argument's sake, is
number two, I can get Chase chemical all these old

(01:02:06):
banks that are no longer in existence. I can get
my money for free. But for Bank of America, we're
gonna call Bank of America Europe here, right, it's appropriate,
so right exactly when it's true, it is appropriate, it's
for But I mean to back it out. Basically, it's
like this, I'm a Saudi Arabian who wants to get dollars.
I go to an ATM machine. It costs me two dollars.

(01:02:28):
I'm a Saudi Arabian who wants to get dollars, and
I've cut a deal with the US. I go to
an ATM machine. It's free. We're charging people for access
to the network. Yes, for the plumbers in your group
out there, for the people who just understand just general
physics and construction. When you build a house, the plumbing

(01:02:49):
is an expense. The electricity is an expense to the
house owner. It's not something that they I mean, they
pay for it, don't get me wrong, But it's an expense.
It's not a profit. Center. The profit center is from
you selling drinks at the bar. So the plumbing is
the plumbing, and the drinks at the bar are where
you make your money. The US has realized that all
drinks are the same. It's the plumbing that makes ours better.

(01:03:14):
And so we're gonna charge you for access to our network,
which is our plumbing we are monitor. This is where
it goes back to you said housing, I set gold.
So far neither have happened, but it's probably gonna happen
to housing first with Fannie Mae and Freddie Mack. And
that is government is monetizing its assets. That's best sent talking.
You say housing, I say gold. Who cares the thing

(01:03:38):
that they can monetize that? I didn't see you. I
saw it, but I didn't see if we talked about
is they're monetizing the plumbing. Y plumbing is an asset.
Do you want access to our safety? Pay us the
fucking ATM charge?

Speaker 2 (01:03:55):
That's right.

Speaker 3 (01:03:56):
And where it's either going to be tariffs, it's going
to be a market access charge, going to be stuff
that you're talking about. It's going to be you can't
use our stable coins unless you cut a deal. And
so what what you do, is the dollar gets weaker
against the countries you're doing trade O the Saudi's, You're
you're part of the club. We're gonna weeken a dollar
against you, no charge, and so they're going to buy

(01:04:17):
more of our stuff. And if you're a country that
doesn't have access, well, the next time there's a war,
good luck putting your money into the dollar. You're not
going to be able to do that.

Speaker 1 (01:04:26):
And if you do, it's going to cost you way
more than it would cost you to go somewhere else
or whatever.

Speaker 2 (01:04:31):
And we don't care. Right, we're charging.

Speaker 1 (01:04:33):
And more importantly, you know, when I stop to think
about the way you just describe.

Speaker 3 (01:04:38):
That, it's a charge.

Speaker 1 (01:04:40):
No no, no, no, no, no, I know no, no, no,
You're I get all the mechanics.

Speaker 2 (01:04:44):
I'm not thinking about the politics of it. See. The
first thing I do is I say, well, then who
will put that fucking system in place?

Speaker 3 (01:04:53):
Well, it would in my opinion, this is gonna be
something you're going to have the right answer for. But
what I've been seeing is that Trump is Negotia eating
a Plaza two point zero deal, one bilateral deal at
a time. So go to Saddi Arabi get a six
hundred billion dollar investment, give them free dollar access and
give them special nation status. Right.

Speaker 1 (01:05:11):
Well, when I'm getting I know, I understand that what
I'm saying is just fundamentally that system where you build
this beautiful financial network and then you know, and then
you charge access for it, and you destroy your fucking
people while the while the financial system makes more and
more and more and more money. Whose system is that, Well,
obviously it's the old British system. And that's how the

(01:05:35):
Marshall Plan just drained the capital and the and the
vitality of the United States and just to destroy the
middle class in America. I'm dead serious here, Like all
the inflation, all the money went out, right, they were
getting the they were getting the interest on the cheap
bucking money going out, and we were getting cheap, appreciating consumer.

Speaker 2 (01:05:52):
Goods on the way back in. That's why our houses
got cheaper.

Speaker 1 (01:05:55):
That's why, you know, that's why our lives got That's
why our lives got immensely worse. That's why our food went,
food quality went down, our standard living went materially went down.
Over our parents, blah blah blah, all of this shit.
It's because Empire of this form. And this is why
I keep coming back to fucking London over this, because

(01:06:15):
this has been the British system for three hundred fucking
years and they did it in so many other ways.
They did it when they were ascendant, they did it,
and then they just transferred everything over to us. And
again that's why it's so damn important to understand that
the Crown Corporation effect and the and the British East

(01:06:37):
India Company morphed into the very post Bretton Woods institutions
that were supposed to hand the key, the fucking keys
to the candy store of the world, to the United
States to lead, and yet somehow so these motherfuckers were
still running the goddamn show behind the scenes.

Speaker 2 (01:06:54):
And then guess what, we got blamed for becoming the empire.

Speaker 1 (01:06:58):
And that's when it got And I'm like, when I
started watching all of this and every turn I saw
somebody else blaming the United States and letting the fucking
British or letting the Europeans off the fucking hook for
this shit, I'm like, I'm sorry, I'm over it. It's
why I got tired, so very tired, and I'm now

(01:07:19):
openly hostile to having any fucking European commentator, any European
commentator period. You speak with a European accent other than
my friend Alex Crander because he gets this shit. You
speak with a European accent, and you do nothing but
shit in the United States. Fucking you're dead to me
because you don't understand the real access to the real

(01:07:41):
problem here, which is fundamentally you are nothing but a
welfare queen. You have been living on the back of
the American middle class and the American political system, and
the American legal.

Speaker 2 (01:07:50):
System, and.

Speaker 1 (01:07:53):
Our our brilliant corporate lawn, all this shit for seventy
five fucking years and getting paid to sit around and
get six weeks fucking vacation. You average eight weeks vacation Germany,
but we have to scrimp and save, and half of
us don't even get two weeks paid fucking leave over.

Speaker 2 (01:08:11):
Here in America.

Speaker 1 (01:08:13):
Where do you think that came from? Motherfucker. This is
why I have no fucking patience for Germans or French
or anybody else. I got no patience for it anymore, Bence,
And I'm going on the warpath with these people because
everybody needs to get it. And the American commentators you
still don't get it are peers.

Speaker 2 (01:08:29):
Fuck them. I'm going after them too.

Speaker 1 (01:08:31):
They need to get this because you're if you're not
understanding what the real fucking war is, then you're ultimately
you're carrying water for the.

Speaker 2 (01:08:40):
People who are bankrupting you. And we have to get
we have to get serious.

Speaker 1 (01:08:48):
This isn't just about positioning in gold and silver and
how to make money and the number go up. This
is about the future of fucking civilization, right And I
I you know, I I I I I knew we
were going to get here at some point, but I'm
so very freaking happy that you went through all of

(01:09:09):
the plumbing because now people have a freaking action plan.
How do you take advantage of what's going on here?
This this is a fundamental state.

Speaker 2 (01:09:18):
Change in the gold markets, the silver market, and potentially
what's next is the oil market.

Speaker 3 (01:09:24):
Right, Well, that's that just that sinks great Britain if
that happens, Absolutely no doubt about that.

Speaker 2 (01:09:34):
I'm sorry. I I know, I I know, I was.

Speaker 1 (01:09:36):
It's an audio only podcast, folks, I know, Vincus the
book on Vince's face was like, oh my god, he's
so freaking right, but what is he going to shut up?

Speaker 2 (01:09:46):
At the same time, but I'm like, sorry.

Speaker 3 (01:09:49):
No, no, no, no, no no no. So so so what
you see and viscerally understand, I can say, you know,
not being falsely modest. I can say that I've identified
in economic model changes and errors. So when you say
it's been this amount of years, I'm like, yeah, it's been.

(01:10:09):
So let me say in different words what you said,
without the political aspect of it. Because it's happened that way.
I will lay the blame. I will lay the blame.
But watch all right. Sure, at some point, the United
States of America's standard of living got to a point
where we can no longer afford to make things at

(01:10:31):
a low cost, and so we decided to start outsourcing that.
So in the late seventies, when capitalism went on strike
in the early eighties, we decided to make our economy financial.
So we financialized our economy. And when we financialized the economy,
unless you really understood what was going on as a
middle class person, you were destroyed. So we triaged the

(01:10:55):
middle class. So anyone who add values and worked didn't
have anything to leave for their kids. Anyone who took
the concept of being a financial person or the renta
class of which I'm a part. When you think about it,
they excelled. So that's like they basically the middle class

(01:11:17):
was used. They harvested the middle class to take that money,
give a piece to the bankers, and then rebuild other countries.
That's what you basically said, The Marshall Plan and what
have you were ways to tap the wealth of the
middle class top the wealth of America. The poor people
have no money, the rich people have dodges to get

(01:11:39):
away from it, and the middle class, well, they're just
dumb SAPs doing the work. And I'm speaking about my family.
So that's the first thing. Now, now I'll tie into
Great Britain thing. Great Britain an empire who lost its
empire after World War Two in decline, wanted to stick

(01:12:01):
around and financialization was an opportunity for it because they're
never going to be the manufacturing economy that we could be.
So it really was a lifeline to Great Britain because
geographically they were centered in the middle and so the
banking class, whether it be American or English, is all

(01:12:21):
going to be about the renter's economy. So England. Now
this is where this is where I don't know where
it happens, and you seem to know. And that is
and that is this is where the whole, the whole,
the Biden junta thing. It makes sense because because there's banking,
and there's renta banking, and so it's commercial banking. Is

(01:12:46):
supposed to invest or loan money to businesses to grow, Yes,
and now that all they're doing is they're making money
off of fees from transactions. Banks have become brokers rentaa
class intermediaries, getting in the middle, not even taking risk.
And England literally is in the middle of the East

(01:13:09):
and West, and England literally has the financialization technology. I
want you to people need to understand that when Maggie
Thatcher and Ronald Reagan and I'm not I'm not big
fans of theirs, but the promise of that they created
is nowhere near what we are now. It's been distorted.

(01:13:32):
Small government became big government. Uh, innovation became rentia behavior
and the banks made more and more money and bigger
percentages off of the depleted middle class. Now as we
flip back to manufacturing, that really London is our broker,

(01:13:59):
We're the business and so as we flip back to
taking our broker in house, London loses its power and
as financialization ends, the new London is let's say, Hong Kong,
because that's a financial capital in terms of financialization of
the East. I mean, I could go, I could go
into more of this, but but I don't really.

Speaker 1 (01:14:20):
I think I think that's a really good way of
looking at it. And you know what we're also seeing
is you know, I mean, this is this is gonna
I mean, where I would go next with all of
this is of course not within really within the scope
of this podcast. Not why I want to have you
on here, happy to have this conversation with you. You know,
they effectively off camera or whatever, because I have this
conversation in every other venue, because when I'm talking about this,

(01:14:43):
suf I'm talking about because now, why is the civil
war thing happening? Why are we dealing with, you know, Dantifa?

Speaker 2 (01:14:49):
Why this? Why this? Why that?

Speaker 1 (01:14:51):
And it's all laying out on this It's all it's
all a reflection of this exact same thing that we've
talked about in this podcast, and it's just a different venue.
This war is multi multimodal. Okay, This war is multi
you know, theater for lack of a better term. You've
got financial war, you've got cultural war, you've got your

(01:15:11):
political war, you've got economic war. You've got you've got
literal military boots on the ground or at least in
this case, black shirts on the ground. Like they're all
it's all part of the same fight, which is, how
do you how do you leverage the power of middle
management against the existing traitorous middle management and bureaucracy, leverage

(01:15:36):
that to go after upper management, to take out.

Speaker 2 (01:15:39):
The legs of the high table.

Speaker 1 (01:15:41):
That's in effect what I'm getting, what I've been getting,
what I've been like trying to conceptualize this game.

Speaker 2 (01:15:46):
And the problem, of course for so many commentators is
they don't see the world in that at least.

Speaker 1 (01:15:52):
And it's maybe even more layers than three. But I'm
just going to go with three because I think that's
the best way to describe it, that I understand it
at this point, to understand it at those levels, and
then go, oh, if you because if you don't understand
that trilevel game and you don't understand that the rules
of the game at every level are slightly different and
players are slightly different. And how you read, how they operate,

(01:16:14):
how they read, how they move is slightly different. But
it's all in surface of a particular over arching strategy
and an over arching conflict, which is ultimately and if
you don't, you know, if you're still a libertarian listening
to me after I've excoriated you for the last year
and a half, fine, you know you've got You've got
a stronger stomach than I. I can't listen to fucking Marxist anymore.

(01:16:34):
Which is to say that you understand that this is
a mob boss. This is a fight between mob bosses,
and you know you're going all the way back to
it and it really is a that And when you
understand that's the way this actually operates, then you can
you know, you don't have to pass judgment on it.

(01:16:54):
You don't have to like it, dislike it or anything else.

Speaker 2 (01:16:56):
It's what's happening. You can be you can be.

Speaker 1 (01:16:59):
Root and branch like morally opposed to the whole fucking thing,
right I am, But unfortunately it's the world we live in.
And you know, at the end of the day, I'm
going to fight for the opportunity to re establish civilization
against what looks to me like purely anti civilizational forces
at every you know, above the upper management level, and

(01:17:20):
even at the upper management level, it looks anti civilizational
because the whole goal is to strip all of your wealth,
which is your time, away from you and to ensure
that you never get any you never get ahead, and
they just keep stealing all of your time while you
complain about it and then ask them, you know, like
Oliver Twist, you know, a police sermon, I have some more,
and they just slapped the ball out of your fucking hand.

Speaker 2 (01:17:42):
Right like, this is where we are.

Speaker 1 (01:17:43):
So I you know, you've got to feel it this
really while you engage with it intellectually and in the specific.

Speaker 2 (01:17:53):
Where your expertise lies.

Speaker 1 (01:17:54):
And that's why I bring Vince on the podcast as
often as I do, is because Vince has expertise in
the areas of finance and training that I don't have.

Speaker 2 (01:18:04):
Because this is his, this is his big this is
his This is how he makes his living, folks, He
always made his living, right, So I mean and this
and you know, and this is the thing. So I
really as always appreciate all of this.

Speaker 1 (01:18:15):
I don't know if you have anything else you want
to say before we get out the door. But I
think this has been a pretty phenomenal way of encapsulating
everything that's happening and everything that I'm seeing.

Speaker 3 (01:18:24):
So go ahead, I'd like to just say two things
that are that corroborate. Again from another perspective, I'm listening
to you, and I'm putting myself in the shoes of
someone who doesn't believe you, all right, And because you
constantly do that to test yourself to see if you're
being objective. And so when I run into a situation

(01:18:47):
that seems incredulous or that's outside my scope of understanding,
like I'm naive when it comes to am I six
and shit like that, I know that, right. But what
I personally do is I do the who benefits and
who suffers? No. And so while I may disagree with

(01:19:10):
you in my heart, the math says, and I'm not
saying I do, but I have in the pastor r
math says, well, shit, all the arrows point to them
benefiting and all the arrows point to them not benefiting.
Can I find at least one fucking single thing that
the wef doesn't benefit from that comes out of this?

(01:19:30):
And the answer is no. So that says to me
empirically that uh, you're you're you can't be argument the
other thing. And this is purely from my side, from
my from my behavioral science and psych training. Five percent,
I'm making a number up. Five percent of the world
is cluster B personality. That's narcissistic, psychopathic, sociopathic. And those people,

(01:19:59):
whether it be a serial killer or the CEO of
a company, they are what they are. But as you
go up the echelons of power, the concentration goes from
five percent to fifty percent. Right now, why does that matter?
It matters because in order to remain incumbent and remain

(01:20:20):
in power, you must be ruthless. And I don't mean
that as a oh the rules of power, fuck that.
I mean ruthless in the sense that you don't understand
other humanity of human and so you say, I am
I am, I need to be in power. And so
incumbency at the top that likes power is the sociopath.

(01:20:44):
And so at that level they're not going to voluntarily
step down. They're not going to say, ooh, you're right,
I'm wrong, let me change my ways. No, No, they're
gonna say you're in my way. They just want to win. Now,
there are times where I just want to him, But
I'm not going to kill a lesson to defend someone
else being killed. They're going to.

Speaker 2 (01:21:07):
Kill, yes, yes they are.

Speaker 3 (01:21:09):
They're going to kill so.

Speaker 2 (01:21:10):
So.

Speaker 3 (01:21:10):
So what I'm saying is is there is a there
is there is a this is crazy. But I've read
a book about this called the Political Poneurology, which basically
means the politics of evil, And it was written by
by a Pole who was who was who witnessed being
occupied by Germans the Nazis, and then he after that

(01:21:32):
war they were occupied by the Communists, and what he
concluded was that they were the same people behaviorally, okay
and so and so the people that were in so
at the highest levels of the Nazis and the Communists,
Stalin and Iller, it's the same person, power hungry, sociopaths.
So I guess what I'm saying is when you figure

(01:21:53):
for me the moments when I don't completely agree, I
go who benefits and who suffers? And I go, Okay,
that lines up, and then I go, Yeah, to be
an executive in a company, you have to be willing
to cheat on your wife. You have to be willing
to cheat on your kids, because that's what cheating on
your wife is. You have to not care. And so

(01:22:16):
they're not going to go freely. And that's what war
start over, war start over incumbents at the WEF and
dabos who have a severe allergy to having a conscience
of course.

Speaker 2 (01:22:29):
Well and that again and this is Vince.

Speaker 1 (01:22:32):
This was like for me, like, I've read a lot
of It's funny if people say you're you're very well read. No,
actually not very well bred, to be honest with you,
I'm just like, I'm observationally very very rich, but I'm not.
I haven't like sat down and read like chapter inversely
like that, you would have assumed that I've read, but
I have read The Road to Served Them?

Speaker 3 (01:22:53):
Yeah, no, I haven't read that one.

Speaker 1 (01:22:54):
You should read The Road deservetive specifically that, specifically, you
should read chapter ten of the to Serve Them, which
is why the worst get on top, because if you
read that, just that, just that, just that chapter you
will have described, you will have described for you exactly
what you just described, which is that the concentration of okay,

(01:23:15):
the cluster B personality five percent, but then hauls of
powers fifty percent.

Speaker 2 (01:23:18):
Well, and I know why this is.

Speaker 1 (01:23:20):
Yak literally lays out a simple mechanistic argument as to
why those Yeah, then the birth to serve them. Why
we get why government of this of these types attracts
that type of behavior.

Speaker 2 (01:23:34):
Let me put it to you.

Speaker 1 (01:23:35):
This one, this personality you if you get it, gives
somebody a little bit of power, and then they be
and then they and then and then the system attracts
people without morals and without power, and it concentrates, and
the process of destroying a moral society is the process
of creating a more and more and more advanced bureaucracy

(01:23:55):
of this type and kind, until eventually we wind up with,
you know, we wind up with exactly in many ways
what we're dealing with now, which is that we're ruled.

Speaker 2 (01:24:03):
You know, here we are paying taxes.

Speaker 3 (01:24:05):
You know.

Speaker 2 (01:24:05):
It's the meme that I put up all the time.
It's a picture of the of the.

Speaker 1 (01:24:08):
Of the of the earth with a big arrow that says,
you are here paying taxes to pedo files right and.

Speaker 3 (01:24:15):
Right right, right, right right. The mentality that makes you
a pedophile is the same mentality it says, I'll kill
you for this.

Speaker 2 (01:24:22):
It's the same thing.

Speaker 1 (01:24:22):
So you accept your behavior, you accept no limits on
your behavior and everything else. So I've always you know,
the chapter chapter ten of The Road to Serve Them
was transform transformational for me when I write it back
in two thousand and six or whatever the hell it was,
And I'm like, I just knew the whole fucking world
that way. And so I understand, systemically, we've built systems.

Speaker 2 (01:24:42):
Government systems, corporate systems, this system, that system. We built
systems that maximize psychopathology.

Speaker 1 (01:24:48):
By awarding it as opposed to minimizing it, which is
what civilization is supposed to do. So when I use
the term civilizational anti civilizational, this is exactly what I'm
talking about. But sometimes when you get to this point,
you have to have a man who has been anti
civilizational and understands how to how to operate and survive

(01:25:10):
and thrive in this anti civilizational environment, but yet has
retained some of his actual humanity in the process, which
is a very rare person, right, and we're watching it
play out, right. That's that's who Scott Besson is. That's
who I think Jerome Powell is, That's who I think
Donald Trump is.

Speaker 2 (01:25:31):
In their own way, and they may have come to
that realization very late in life.

Speaker 1 (01:25:34):
They may have been bad men for a long time,
but bad men who have the opportunity to leave a legacy,
and they don't want that legacy to be I was
a ship back property developer from Queen's right.

Speaker 2 (01:25:48):
I don't care. If it's his narcissism, that's I don't
care if.

Speaker 1 (01:25:51):
It's his ego, if it writes him to do good things,
I don't give a fuck. If he just wants this
fucking everything that drives Trump is that he wants to
be the fifth head.

Speaker 2 (01:26:01):
I'm not fucking rush More. I don't give a shit
to be saves the country. I don't give a fuck.
And that's the way you have to. You know.

Speaker 1 (01:26:07):
It's all of this stuff. So, you know, somebody asked
me the other day. I was on Twitter, either yesterday
or the day before. They asked me on Twitter. They said,
how do you spend how do you how do you
function spending your your your life inside the heads of
all these really evil people. I'm like, it's really fucking difficult, dude.
And I don't drink casually anymore, you know what I mean? Like,
it's hard, but this is what you have to do

(01:26:28):
in order to be able to understand their motivations but
yet still be grounded enough in the reality of for whatever,
for you know, very small values thereof that we exist
at this point, like you know, and especially in the
Phil Dickey and sense like this is I've been training
my entire myself intellectually, my entire life for this fight.

Speaker 2 (01:26:47):
I didn't realize it, but that's what's happening. And so
when I do this like multimodal, you know, intersectional.

Speaker 1 (01:26:57):
All puns intended, of course, I do between politics, geopol geopolitics,
finance and culture and everything else and psychology. I'm doing
this on purpose, you know, it's because you know, we
got to that. This is how I got to that point.
But that's a skill set that you know, just I
couldn't help myself. So what you've done here is I'm

(01:27:18):
now you know what I love watching is is how
you know you have leveled up by just taking your
one area of expertise and then applying it across and
being and being flexible.

Speaker 2 (01:27:32):
Enough of mind.

Speaker 1 (01:27:33):
I mean, I really appreciate this because I don't run
into this on a regular basis. And it's great and
it's it's it's perfect. So I'm really glad you put
it the way you did because what you did was
you independently came to the exact conclusions of how I
reached like eighty years ago.

Speaker 2 (01:27:47):
And it's not.

Speaker 1 (01:27:48):
Particularly I wouldn't say it's partically difficult, but it's it's
a brilliant, you know, distillation of a certain aspect of human.

Speaker 2 (01:28:01):
The yeah is where we are and.

Speaker 3 (01:28:03):
And and right exactly, I mean I approached them from
from this is what we do, right, I mean we were.
There is a term that I think is really an
important term, and I don't think there's no one in
the world does it anymore, not enough people. And it's
it's it's called concilience. And consilience is when you use
different methodologies to come to the same conclusion. At the

(01:28:23):
simplest level, it's this, what's more accurate measuring something with
a ruler ten times or measuring something with three different rulers.
And the answer is measuring something with three different rulers,
because if the ruler that you're using is inaccurate in
this case, let's say it's my the way I look
at things through finance, then I'm going to get the

(01:28:44):
wrong answer every fucking time. But if I use the
Luongo ruler, the Vince ruler, and someone else's ruler, I'm
gonna come to the same conclusion. It's kind of like
you're you're keeping yourself honest by using different methodologies right
to to to to corroborate each other from a different
point of view.

Speaker 2 (01:29:04):
In many ways.

Speaker 1 (01:29:05):
That's in many ways as scientists we we it's the
difference between precision and accuracy.

Speaker 3 (01:29:10):
Yeah, exactly, it's not precise, but it will be accurate.
And then you have to make sure that your yardstick
is the right yard stick. Right.

Speaker 1 (01:29:17):
Well, you can be you can be precisely wrong by
measuring this by having a systemic error within your you know,
by by having miss zero the instrument or whatever, and
you can be precisely wrong where you can be accurate
and you and depending on you know, depending on the way,
depending on your analytic tool, which in this case is
now the fungibility of information in a freaking in in

(01:29:41):
a geopolitical space of of of fake information, you're gonna
be hitting with a shot you know, You're gonna have
the precision of a shotgun with the choke left off,
as opposed to a rifle. You're not gonna be hitting
you know, someone M O A. And you have to
realize that, you know, with every So you go out
there and you do what you can, and you set up,

(01:30:03):
you set up like the shotgun blasts of insight, and
then you like look at the ven diagram of where
they overlap, and then you get rid of and then
you get rid of the stuff that that's outside of it.
You hold on to it because it may be operative later.

Speaker 3 (01:30:19):
But right, no, no, no, no, I I when you
set precision for us accuracy, the analogy that I was
taught is similar. It's the archery analogy. Right. I shoot
ten arrows and they're all within a millimeter of each
other at six o'clock. That's precise. It's not accurate. I
shoot ten arrows and they're all within an inch of

(01:30:40):
each other at the bullseye. That's accurate, but not precise.
If you're precise and you're inaccurate, you don't know unless
you use something to measure it. That would be another bow.

Speaker 1 (01:30:50):
You know exactly that and that and that's why this
is so, that's why what you and I do together
is I think it's so valuable.

Speaker 2 (01:30:57):
I know it's valuable for me.

Speaker 1 (01:30:59):
Personally, and I hope before obviously, I hope the audience
finds it it's useful, and I'll and I hope it's
also valuable for you, and I think it is of course.
Of course, of course, so you know, I end up,
you know, as much of an asshole as I am.
I don't like to speak for other people.

Speaker 3 (01:31:13):
All different flavors of asshole. I have definitely one. Well.

Speaker 1 (01:31:16):
So, but with that said, Vince, I think we'll leave
it there. Like understand, folks that we're this this to
recap some things. We're at a very interesting state change
in the way the silver market is trading with a
lot of things that that that Vince has pointed out today.
And if you didn't understand all the terminology, your terms
of art, or anything else, well that's why you can

(01:31:36):
listen to the podcast twice because it's it's it's you'll
get it. The second thing is is that this ties
into our the the everything we're seeing at the at
the Trump you know what the Trump administration is trying
to do. The one thing we didn't discuss today, and
we'll leave to the we'll leave on the cutting room
floor is how this how the the shutdown and what

(01:31:57):
the Democrat strategy is because it seems so un believably counterproductive,
but it's actually not, and you know it just is.

Speaker 2 (01:32:05):
I know it is.

Speaker 3 (01:32:06):
And so.

Speaker 2 (01:32:08):
It's so with all those things said, I think we'll
leave it there because we're in ninety minutes.

Speaker 1 (01:32:13):
I think that's good. That's more than a good enough
for a podcast, and we'll do it again soon. As always, mister,
everybody where in the hell they can find you and
how they can support you.

Speaker 2 (01:32:24):
Being brilliantly vince no, really vince and end up toos.
But it's the same time, it's.

Speaker 3 (01:32:33):
Great to use a big word that makes you sound
stupid but really makes you smart. You know, it's like uptwos.
What the fuck does that mean? It means I'm dumb,
you know.

Speaker 2 (01:32:42):
I obstreperous. So there you go.

Speaker 3 (01:32:44):
That's a good one, right exactly. Well, first of all,
the feeling is mutual. I mean, I'm not gonna I'm
not going to take up too much of your people's
time on that, but you can you can, uh, you
can find me on VB, on Goldfix, on substack, so
gold Fixed Substack, you can find me on Twitter. It's
uh it's soreing the k but just look up Vbl's
ghost and that'll give you the right right handle. The

(01:33:07):
other thing I wanted to say is and and in
one of your many datribes about the sociopathy and a
lot of stuff, I just want to say this Trump
is an asshole, but he's our asshole, and he knows
how those assholes think. So whether I don't care, if
I really honestly I know he's lining his pockets, but

(01:33:31):
as long as he wants to win against the people
that are lining their pockets and not doing anything for us,
he's my man. That's it.

Speaker 2 (01:33:41):
I'm okay with that. I'm okay he You know, it's funny.

Speaker 1 (01:33:45):
I grew up in a Catholic household, right as I
grew up in a lasting or afterdar I. I grew
up in a Catholic household with a bunch of people
who not only did they want you to do the
right thing, but they always wanted you to do the
right thing for the right reasons all the time, even
if you didn't understand what the right reason was right.

Speaker 2 (01:34:05):
And then if you.

Speaker 1 (01:34:07):
Didn't do everything all those things didn't line up perfectly,
then you were a bad person. Why I don't speak
to my family because they you disagree with what the
right reason for doing anything is and or allow for.
And this is supposed to be a Catholic household and
we're supposed to be Christian and actually.

Speaker 2 (01:34:22):
I don't know.

Speaker 1 (01:34:22):
God, you know, I'll ask for forgiveness. No, you never
gave me that, so you're not getting it. But that's
what I I That's one of the things that we're
dealing with here is that you know, ultimately we have
to realize that Donald Trump can be doing the right
thing and not all of his reasons are okay, and

(01:34:45):
that's so, and we have to be comfortable with that.
And if you're not comfortable with the fact that he's
not perfect and a perfectly white knight, well then you know,
I'm sorry. You don't get to play in the kids
at the big kids sandbox. You I have to go
sucking a fucking bumb in the corner like the five
year old that you are. And I would suggest to

(01:35:06):
all the people on both the Marxist left and the
libertarian right stay out of the election process and stay
out of politics because you're not built for it, period,
and let the adults in the room deal with the
problem and be comfortable with the fact that you suck
or level up. That's where I am on t TfL
seventeen twenty eight. On Twitter you can see it. You

(01:35:28):
can follow us at patrons Lash, gold, Goots and Guns.
Vince has been an absolute blast. We will do it
again soon, my friends. Keep your stick on the ice.

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Episode #233 - Vince Lanci and the Tale of Two Silvers

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.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}Episode #233 - Vince Lanci and the Tale of Two Silvers