Gold Tariffs!? vs Crypto🔥Andy Schectman INTERVIEW

Gold prices fell on Monday as investors awaited White House clarification regarding potential U.S. tariffs on imported gold bars as well as a U.S. inflation report that could provide an indication of the Federal Reserve's rate outlook.

~This episode is sponsored by iTrust Capital~
iTrustCapital | Get $100 Funding Reward + No Monthly Fees when you sign up using our custom link! ➜ https://bit.ly/iTrustPaul

Guest: Andy Schectman | President & Owner of Miles Franklin 
Miles Franklin website ➜ https://milesfranklin.com/
Miles Franklin Youtube channel ➜ https://www.youtube.com/@MilesFranklinMedia

00:00 Intro
00:06 Sponsor: iTrust Capital
00:35 Trump Gold Tariff Chaos!
01:55 Tariff Whiplash Exposes Gold Market
06:19 Gold Withdrawal Delays
09:48 Uncertainty Bad Enough
10:13 Tokenized Gold Explodes
12:49 BRINKS Stock Pumps
13:20 TradFi Moving to Tokenization for Trust
15:15 Paxos & Tether Gold Going Cross-Chain
16:10 Gold DeFi Yields
19:10 Katana DeFi Yields on Polygon
20:04 Are Gold Yields a deal-breaker?
21:15 Tokenized Gold Mines
22:15 Gold DeFi Business Models
23:14 Gold Bugs trusting crypto more?
24:47 Gold-Backed Stablecoins vs BRICS
27:27 Miles Franklin Update
28:50 outro

#Crypto #Gold #Ethereum
~Gold Tariffs!? vs Crypto🔥Andy Schectman INTERVIEW~
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Episode Transcript

Speaker 1 (00:00):
Chaos coming into the gold markets. Today, we're going to
be breaking it down with a special interview. You don't
want to miss it. My name is Paul Baron, Welcome
back into the show. I do want to thank our
sponsor and that is I Trust Capital. You can actually
get into gold and silver over on I Trust Capital
and set up your own crypto IRA. One of the
things you can do is get into all coins of course,
bitcoin and ethereum.

Speaker 2 (00:19):
Check it all out.

Speaker 1 (00:20):
There's a lot within it and I Trust has been
around for a long time, fourteen billion in transactions, two
hundred thousand users out there, so definitely one to stick with.

Speaker 2 (00:30):
Use our link.

Speaker 1 (00:31):
It's going to give you a one hundred dollars funding
reward just to get started and get going. I want
to go over a clip that is going to recap
where the gold market is based on what happened Friday,
which of course was the announcement.

Speaker 2 (00:45):
Of gold tariffs. And this is going to be good.
Watch this one come back.

Speaker 1 (00:50):
Gold price is hitting all time highs this morning, amid
reports that the Trump administration plans to put tariffs on
gold bars.

Speaker 2 (00:58):
The White House announced plans you an executive order addressing
what they're describing is misinformation.

Speaker 3 (01:03):
Well, all I know is what we've been reading.

Speaker 4 (01:06):
And then they got a letter and they fall under
the thirty nine percent terraces for Switzerland and that's also true,
by the way, for all the other countries.

Speaker 2 (01:13):
All shipments are on hold.

Speaker 4 (01:15):
So basically there's no trading of gold bars between between
the Atlantic So yeah, I guess that we can call
that a massive, massive disruption to global gold trade. People
are now trying to find out what the follout from
this is going to be.

Speaker 3 (01:32):
Were you surprised to see tariffs trump taxes if you
will on gold?

Speaker 5 (01:38):
Yes, Ultimately this is going to end up making all
those costco bars a lot more expensive than are being sold.

Speaker 3 (01:43):
In the States. There's various fundamentals that are pushing this.
A lot of uncertainty helps it.

Speaker 5 (01:48):
Do you want to relate this to what's going on
in crypto gold?

Speaker 3 (01:52):
Has this seventy five year kegar of nine percent? Cryptos
brand new and all over the place.

Speaker 1 (01:56):
All right, so a lot happening out there. I wanted
to bring in our resident gold expert, and of course
that's Andy Scheckman coming in from Miles Franklin.

Speaker 3 (02:04):
How are you, Paul good to see you brother, Thanks
for having me.

Speaker 2 (02:07):
Yeah, So what do you make of all this?

Speaker 1 (02:09):
Get me up to speed on how it's affecting not
only your business, what will you think in terms of
the gold industry as a whole.

Speaker 5 (02:16):
Well, you know, they've since walked back from this tariff
legislation and said no, the Customs and Border Protection agencies
spoke out a turn. It was for industrial bars and
other commodities. It is not applicable to precious metals. One
of the things that I saw that really kind of

(02:38):
shocked me. However, when this news came out on.

Speaker 3 (02:41):
Thursday, gold was at about thirty four.

Speaker 5 (02:43):
Hundred bucks, and I've never seen in my career where
the futures price exploded to thirty five hundred. You had
one hundred dollars gap between cold spot and gold futures.
And what I take away from this is that even
though the tariffs on gold are off the table, this

(03:05):
shows to me how sensitive the global plumbing is and
can be for gold, and how quickly a political risk
can distort prices and trade flows like that. Now it's
backed off, but just how fragile it is, and in
relation to the massive amount of gold that's coming into
the United States. I can't even explain to you really

(03:27):
how much gold is coming in.

Speaker 3 (03:29):
It's so far off the table.

Speaker 5 (03:31):
I'll try my best just to give you the first
three days example, for the month of August. Now, since November, Paul,
we've been a net importer of gold, and my whole
career thirty five years. There might be a month here,
month there where we're importing gold, but in general we
are net exporters of gold. But the amount of gold
that's been coming in is off the charts. I mean,

(03:51):
you're talking one hundred plus billion dollars, and I.

Speaker 3 (03:53):
Would argue a lot of gold is.

Speaker 5 (03:55):
Coming in through unofficial channels, not through the Comex being
delivered into vall on behalf of proxy banks like JP
and City and Goldman. With all of that being said,
I used to say as a standard statement that less
than one percent of COMEX contracts.

Speaker 3 (04:11):
Ever stood for delivery, which is a truism.

Speaker 5 (04:14):
They never did, and most COMEX contracts were used to
hedge exposure, where if I have five thousand ounces of
gold in my warehouse, I'll sell five thousand on comes
So if the price of those five thousand ounces drops
by one hundred bucks. I'm not down a half a
million dollars because what I sold on comex went up.
It's a way for myself or producers gold mines, etc.

(04:36):
To offset exposure and risk. It's also a casino of
sorts for people to speculate and gamble. But very little
ever stood for delivery. So let's use the first three
days or four days of the August contract to give
you an idea of just what I'm talking about. On
top of the copious amounts of metal coming into the country,

(04:56):
which the mainstream media is completely missing and ignoring. I'm
talking billions and billions and billions and billions every single month.
In the first three days, we saw twenty thousand, one
hundred and sixty contracts post, meaning they're posting right, they're
going to settle. Of those twenty one hundred and sixty contracts,
one hundred percent of them, not one percent like it

(05:19):
always used to be, one hundred percent stood for delivery.
You're talking seven billion dollars worth of gold stood for delivery,
and one hundred percent of those contracts that posted stood
for delivery. This is a trend we are continuing to see,
and so this would have really disrupted things where all
of the short positions would not have been able to

(05:40):
easily rely upon bars that they would bring in if
they weren't American made that thirty nine percent tariff would
have blown the whole thing sky high. So that's probably
why rates on the exchange for physical and the following
month or the December contract blew out. But I guess
this just goes to show how tight and how fragile
this whole ecosystem truly is. Right now, disaster averted, But

(06:04):
I think the thing to focus on is the most
well funded and more importantly well informed traders on the planet,
not just the central banks who have been doing this
for years, but now entities within the United States are
showing the importance of physical delivery over cash settlement and
paper promises.

Speaker 1 (06:20):
Well, I think the physical delivery is still one that
is a bit challenging. I think also the uncertainty if
you look at and we all know Trump's been all
over the place in terms of these terraffs.

Speaker 2 (06:32):
But what it does do is it kind of.

Speaker 1 (06:33):
Sets up the issue of a gold investor looking at
this and saying, well, if they could do it, or
even attempt to try to do this, does it mean
they could actually pull this off and try to stick
in tariffs in the future. If you look at this
right here, this was the amount of weight times to
withdraw gold from the Bank of England. This jumped from

(06:54):
four from days to four to eight weeks.

Speaker 2 (06:57):
How do you even get away with that?

Speaker 3 (06:59):
Well, really crazy about that, Paul.

Speaker 5 (07:01):
That exchange is a T plus one exchange, meaning T
is trade day plus one to settle on the third.
Let's just pretend instead of Paul bearing the you owned
a multinational jewelry corporation and you manufacture.

Speaker 3 (07:14):
Jewelry all around the world, and you relied.

Speaker 5 (07:16):
Upon your contracts at the Bank of England or the
LBMA to provide your metal, and you're on a tight schedule,
and you send in your certificate and you say I
need my metal.

Speaker 3 (07:26):
Paul, or sorry brother.

Speaker 5 (07:28):
I know you're expecting your bars to be shipped to
you in three days, but we're actually a shortage of
manpower and trucks here at the Bank of England. That's
what they said to an eight week deliveriedly. But when
we look at silver at the Bank of England or
the LBMA, it might be easier to understand. So the
LBMA has a free float of one hundred and fifty

(07:48):
five million ounces of silver right now, they have roughly
eight hundred million ounces there, but only one hundred and
fifty five million are unencumbered. The rest belong typically primarily
to the ETFs like SLV, So all of that one
hundred and fifty five million ounce is that is the
lowest float they've had since they started keeping records. It's
one hundred and forty year old exchange now. David Jensen

(08:09):
is a guy you might want to have on your
show someday. He's amazing, and he is an analyst that
analyzes the LBMA. He says, they're trading two hundred and
ninety million excuse me, one hundred and ninety million ounces
per day off of one hundred and fifty five million
ounce float, so they're thirty five million ounces more than
the float. However, that's bad enough, but he's saying, no,

(08:29):
that's actually wrong because they only post the final settlement numbers.
They're actually, according to the lbma's own statistics, trading ten
times more than that per day. But the final settlement
numbers come out to one hundred and ninety million ounces,
so and they're trading one point nine billion ounces up
to one point nine billion ounces per day off of
one hundred and fifty five million ounce float. That's three

(08:52):
and a half times annual global mind supply and fifteen
times or so the float.

Speaker 3 (08:57):
This is a problem.

Speaker 5 (08:58):
When you get more delivery requests, then there are bars available.

Speaker 3 (09:02):
Now it's manpower and trucks. We're sorry.

Speaker 5 (09:04):
Yeah, in that essence, is almost as if it's a default,
and it's certainly something people should pay attention to. Happening
in platinum as well, where the head of the Tokyo
Metals Association says there is no platinum in local London
or Switzerland, nun virtually zero, Yet they're trading three and
a half million ounces per day in spot contracts which
are deliverable. This whole game has never been so close

(09:26):
to being exposed, this Western system, which I think will
then move to Shanghai, to Dubai, to Moscow, to the
exchanges around the world that will have a better understanding
of valuations, and that's where you'll see real price discovery
happen at some point. If we continue to abuse this
system through levered futures contracts and naked shorting.

Speaker 1 (09:48):
Yeah, this is One of the things I think that
a lot of people look at is this uncertainty level.
Also the complexity of the market itself now being exposed
just with the threat of a tariff, and now we
haven't seen the full EO complete clarification. Everybody's saying, we're
still waiting on this for gold bar imports, and it

(10:10):
still could possibly happen. We don't know what the president
is going to do. But one thing you can compare
to is what happened with digital gold.

Speaker 2 (10:17):
This is, of course tether.

Speaker 1 (10:19):
Gold right there, and this spike right there, guys, just
overnight in a period of time when we had this
kind of rally come to play into this. Wouldn't that
make the case for digital gold a much bigger scenario
for investors in the future to say, simply give me
tokenize gold versus the real stuff, because I know it's

(10:39):
going to be held, or at least I'm hoping that
it's going to be held in places where I can
at some point call for delivery. But don't you think
that's going to be a movement We're going to start
to see.

Speaker 5 (10:49):
Now, well, that's what you just said right there is
the catalyst is the key just to expand upon what
I just said and then answer that question. In the
first five days of trading for silver, there was one million,
seven hundred and twenty one thousand plus ounces received into comex.
There was one point eight nine million ounces withdrawn leaving COMEX.

(11:09):
To your point, delivery, that's what's really weird. It's one
thing for the delivery to come into comex to actually
leave the ecosystem. Who's taking possession of one point eight
nine million ounces. That's several semi trucks worth. Well, to
your point on the token is system, Yes, that in
theory sounds great, but if there are tariffs on imports

(11:30):
of gold and silver, first of all, this better be
held in the United States. If it's not taking possession
is all but impossible. And when you talk about the
noose closing around the ability to move things easily without
reportability in the physical realm, Brinks was just fined fifty
million dollars by the Justice Department for not acting or

(11:52):
not filling out paperwork to become a money services provider.
They said, We're not a money services provider. They said,
the hell you're not. You've been bringing metal cross border.
So because you've been bringing legal tender cross border, you're
a money services provider, and they settled.

Speaker 3 (12:06):
For forty some million dollars.

Speaker 5 (12:08):
So the point of it is is that getting metal
back ain't going to be easy anymore, whether it be
through tariffs or even the reluctance of these these entities
like brings to who now have to be characterized as
a money services provider to bring it back? So the
real issue with a tokenized form of gold would be
who's storing it, where is it, who's auditing it, and

(12:31):
can you take physical possession of it easily? If the
answer is yes, then that's the secret sauce. In other words,
if you were able to do this in it brings
vault in Salt Lake City, where it's completely audited, completely transparent,
and yes you can take possession of it, you've hit
the home run.

Speaker 3 (12:45):
That's a trifecta. Contains to that.

Speaker 5 (12:47):
Short of that, it's got issues regarding redeemability here in
the United States.

Speaker 1 (12:52):
Well, and you look at you mentioned Brinks. I was
looking at their stock price up dramatically from just last
week significant. I mean for that move this is over
the past year that you guys can see right there.
So I think this is the factor that everybody's looking
at because digital gold many people, when you look at
tokenized gold, many people are just there for the lift

(13:12):
in the market. They're not necessarily looking for a potential
of taking you know, physical gold into delivery. And I
think that is a factor going forward. Do you think
at this point that, especially with gold, the potential of
being more tokenized in the future, if in fact we
do have this, will companies like yourself and others.

Speaker 2 (13:33):
Start to go this direction.

Speaker 5 (13:34):
I think that the inevitability if it were really good.
The answer is yes, of course, and I've been I've
been approached by several people to look at the beginning
stages of that. But you know, look at the LBMA,
which is now completely losing its credibility. It has to
be in a place where it is trusted, where it
is validated, where it is verified, where it is deliverable.

(13:56):
Even if most of the people never wanted to take
possession out of these exchanges, the fact that these exchanges
are being in essence viewed as fagasy, viewed as bs,
viewed as a fractional Ponzi scheme. They've lost all their legitimacy.
So yes, if there was a system whereby we could

(14:19):
tell our clients you have immediate access, you have immediate settling,
you have immediate auditing twenty four to seven on the blockchain,
and the ability to take possession of it quickly. Then yes,
I think it would dramatically. It would change the gold
market as much as when I started this company in
nineteen eighty nine, Paul, there was no Internet.

Speaker 3 (14:39):
I started before the damn Internet, making me feel old.

Speaker 5 (14:42):
Before the Internet, people who dealt in securities were called stockbrokers,
and then the Internet rendered them obsolete. With Scott Trade
making nine dollars trades. That the advancement in technology could
very quickly change the ecosystem, but it all boils down
to transparency, trust and redeemability, at least in my mind

(15:02):
for the people who favor redeemability, or at least the
option to be able to do it when and if
they want, over just about anything else.

Speaker 3 (15:11):
And I think that's.

Speaker 5 (15:12):
Really the key for those who are building this ecosystem
out there who might be watching this, that's the key.

Speaker 3 (15:17):
All right.

Speaker 1 (15:18):
So you've got Packsoskull, that's a US origin. Then of
course you've got tether Gold, which is now British Virgin
Islands plus with defied the potential. Now to really kind
of shop this, I think is you know, to whatever
jurisdiction you guys end up wanting to go into. But
this just shows you the cross potential for multi chain,

(15:38):
and this is just showing any compatible chain what we're
going to see with xaut, interoperability, the whole idea around
this back to your point physical bars being the validity
of it. But a lot of these companies have been
so held to audits because of tokenized systems that it
sounds to me like it might they actually might be

(16:00):
better prepared to go this direction. Then what we're dealing
with right now, which apparently is kind of getting you know,
the king has no clothes scenario pulled out in front
of it right now.

Speaker 2 (16:10):
So could be a big deal.

Speaker 1 (16:12):
Guys, we could see this and remember there's still some
earnings out there, you know, right here, this is just
if you look at hyperbat right here, they're paying yield
on gold and right there on xaut. Then you go
into what's happening over here in some of the markets
continuing to explode. Look at the market cap all up
right now. It seems to be a little bit of

(16:33):
a challenge I'll kind of zoom in on that for you, Andy,
right there between paxos and tether gold. Also, we're starting
to see yields, and this is something that is completely
foreign to I think most gold holders imagine holding digital gold,
being able to gain yield and never sell your gold,
and being able to compound up on that. And at

(16:54):
some point you're going to see companies, whether it's these
DeFi exchanges, it's just one of them that's out there
starting to go into USDC, but they're going to be
introducing gold digital gold as well, tokenized gold, possibly where
you could even see rewards coming back to a holder
of this, which would be bizarre for the gold industry.

Speaker 2 (17:16):
What are your thoughts on that?

Speaker 5 (17:17):
Yeah, I mean it would be bizarre for the gold
industry certainly. You know, the whole argument again stone and
gold by traditionalists is that it doesn't pay any yield.
It doesn't really need to when you compare it to
all forms of traditional assets. But again, we here again
are moving into a new system, a new world where

(17:38):
these kinds of thoughts for the gold bug you have
to chisel away. Even for an old guy like me
to break free from it. Most of the people at
least in the people that I talk to. It all
centers around trust and if there is a system that
will allow complete and total transparency, the ability to earn yield,
the ability to take possession, the ability to move in

(17:59):
and out quickly, it sounds incredible, and it sounds amazing.
The yield part, I would argue, is probably not as
important to the people holding gold as many would think,
but what it would do maybe to the people on
the fence, the people who like the idea of gold
back see the value in owning something like weld. That

(18:21):
the central banks of the world are buying at levels
no one has ever seen, and the United States becoming
net importers. So sure, I'll have it some exposure to
the gold. I like the yield, I like the ability
to move in and out, and all of those things
I think are very bullish ultimately for the gold market.
As a business owner, you must learn to roll with

(18:43):
the changes. You must have an open mind or you
get rolled by them.

Speaker 3 (18:47):
And so the banks are doing well, Yeah, I mean
I really started to watch.

Speaker 5 (18:52):
I enjoy coming on a show like yours, and quite frankly,
I've been saying forever that our two communities are actually
more alike than not. My whole idea is to meld
the two communities together for sure.

Speaker 1 (19:05):
And I want to kind of paint this out for
you because I feel like there's a huge opportunity here
for the gold industry, and you know that's one of
the reasons we of.

Speaker 2 (19:13):
Course love to talk with you. I want to play
a clip for you.

Speaker 1 (19:17):
This will get it back to the point of yields
and why I think maybe this is a hidden opportunity.

Speaker 2 (19:22):
Listening to this.

Speaker 6 (19:23):
One, users get everything thrown at them in the timer,
Like every bit of value that can be taken from
a chain from its partners gets thrown at the users
through yields. So something like AUSD AUSD is a stable
coin where a ton of foundation actually receives the revenue
and redistributes that out to users. That is off chain yields.
So when you are in a bear market and DeFi

(19:47):
yields draw significantly, what will actually happen is that that
yield on the AUSD is actually going to be much
more desirable than the on chain yields. And that is
something that allows like disproportionate earnings for users in a
bear market that you don't actually get in a just
anywhere else because they're not built for it.

Speaker 1 (20:05):
All right, So Andy, my question is this you've got
we'll call it traditional finance investors and have been probably
for twenty thirty years. That is generational wealth that's getting
ready to get transferred.

Speaker 2 (20:17):
Most likely it's.

Speaker 1 (20:18):
Going to be a gen z or a millennial that's
going to now control this wealth in the next five years.
Right now, that's the window many of which have started
to already venture into these high yield DeFi scenarios. Now
we're getting digital and tokenized gold, all this playing into
it and yield generation. They understand because it's compounded, which

(20:38):
of course would be unbelievable if you had something like
an asset in terms of gold.

Speaker 2 (20:43):
That's what they were talking to right there.

Speaker 1 (20:45):
That's one of the Polygon former leads Mark Boyern talking about.
That is that ecosystems like this are going to continue
to propagate. It's what we're seeing in the banking industry.
It's what we've seen with stable coins, and most likely
it's going to I mean, it's already happening in the
money market of things where they're having to become much
more competitive. Why not gold Man, It just seems like
there should be a company, maybe even like you guys

(21:08):
or others, maybe a consortium that would come in and
develop a system for you know, tokenizing a physical asset.

Speaker 2 (21:17):
Who would be.

Speaker 5 (21:19):
Even better if that would be yield in physical metal?

Speaker 2 (21:23):
Well, absolutely for sure.

Speaker 5 (21:25):
To me, the logical place really would be to completely
disintermediate the entire bullion bank ecosystem and come right from
the mines where the gold in the ground is actually tokenized,
where you have proven reserves, geological studies and proven reserves,
and then tokenize that and deliver it the ability to

(21:49):
deliver it to the public directly. Do you look at
a company like First Majestic Silver that has kind of
vertically integrated their entire system where they are a large minor,
they also now have a refinery and a mint.

Speaker 3 (22:05):
So they pull their own silver out, they.

Speaker 5 (22:07):
Send it to the refinery where it's refined, they mint
it and send it out.

Speaker 3 (22:11):
Now they would be perfect for that. Now, that to
me is the way to do it.

Speaker 1 (22:15):
Well if you had okay, so maybe you had someone
like that, but I think the model is one that's
similar to what's here on screen of using something like
interest rate differentials. So you'd basically just borrow at low
rates on something like xaum.

Speaker 2 (22:30):
This would be back loans.

Speaker 1 (22:32):
You'd lend stable coins against that, and then that would
be on bocifi or DeFi, and you could do that
even if you did that at ten to fifteen percent.

Speaker 2 (22:40):
Those are some good examples.

Speaker 1 (22:42):
Then go into yield farming and then a liquidity provision
of that.

Speaker 2 (22:46):
So this is.

Speaker 1 (22:47):
Possible to be done right now to where I'm surprised
that we haven't seen this model in the gold industry
to date, especially with all the stable coin news and
the regulation everything that's happening. I'm just quite surprised that
we haven't seen it yet. That's why I was asking
who would be the companies out there that you think

(23:07):
might be able to come in that direction.

Speaker 5 (23:09):
Last couple, I honestly think it would be the mining
companies more than more than the retail companies.

Speaker 3 (23:14):
I really truly do.

Speaker 1 (23:15):
Do you think that we're going to see goldbugs now
start to differentiate or I shouldn't say differentiate, but diversify
their asset base, maybe into tokenized systems. You know, Sailor's
been on many times saying, hey, there's no tariff on
digital assets, no teriff on cyberspace. You know, it's not
a physical transaction. Granted it doesn't mean there couldn't be,

(23:38):
but right now nothing of that nature. Do you think
we're going to see goldbugs start to say, yeah, we're
going to whether it's tokenized gold, bitcoin, ethereum, XRP, whatever
it might be. Do you feel like there's going to
be a movement there now because of this tariff scare.

Speaker 5 (23:54):
My honest opinion would be no, not yet. The gold
bugs are pretty set in their way, the older folks. No,
I don't think they will. But when it becomes obvious
that it has proven that it is legitimate, that it
is safe, then yes, ultimately you will. But I still
think we're early. I'm more open to this than than

(24:15):
just about anyone in my space. You'll get a guy
like Peter Schiff, who's one of the smartest guys in
the world, but he is completely antithesis of anything digital,
and I think that's more along the mentality of the
of the traditional gold Bugget.

Speaker 1 (24:29):
All right, perfect, Well, I just want to validate that.
You know, what you were taking talking about was shift.
He's more anti bitcoin than anything or you know, in general,
not necessarily anti you know, tokenized gold, because I think
he is he believes, yes, that that the blockchain is
good for that purpose, especially with physical assets such as that.

(24:49):
Two questions real quick. One is if you think about
tokenized gold that has true gold backed assets one to one,
does that start to gate, especially when it's as stable
coin oriented platform. Does that start to negate the need
for bricks to where it just simply puts them off

(25:10):
the table.

Speaker 2 (25:10):
What are your thoughts?

Speaker 3 (25:11):
No, not even a little bit in my opinion.

Speaker 5 (25:15):
The bricks bridge system which is now being integrated. First,
it's already been integrated into the eleven Asian countries in
Southeast Asia and five Middle Eastern countries, which is thirty
eight percent of global GDP. They're also now integrating it
into the Belt Road, which is seventy five percent of
human population fifty percent of global GDP. Forbes just came

(25:39):
out with the report last week that said those Asian
countries now represent China's largest trading partner by far. And
then the extension of the Shanghai Metals Exchange into several
multi jurisdictional vaulting systems, starting first ones done in Hong Kong.
Next one is under construction. Now in Saudi Arabia, and
they're going to build them all through the belt Road.

(26:01):
The system will allow them to trade cross border without
interference of the swift in seven seconds with the ninety
eight percent reduction in fees. And the Shanghai Metals Exchange
has come out about a month ago and said from
now on, any of our trading partners can take there
you want and immediately convert into gold in the Shanghai
Metals Exchange in these vaults without switching to dollars. That's

(26:23):
the kind of thing removing any of this risk through
multi jurisdictional it's more distributed. And so no, I don't
think so. I think it's too late for that, to
be honest with you. I think a lot of these
countries are sick and tired of the Western hegemony and
anything including DeFi including ideas like this that are truly groundbreaking. Yeah,

(26:46):
they'll have an impact, but won't completely erase the need
or desire for these bricks countries to find a new path.

Speaker 1 (26:53):
I think they're going to find a new path in
the blockchain. It's because ethereum essentially already lands in that
frame and work right now and tether you know, from
a settlement side is already there and it's not you know,
the western you know ecosystem that has been really the
reason for the rise of bricks. Listen, we are in

(27:13):
financial and global warfare, it feels like, especially with what's
happening in the goal market and the shift, especially with
digital assets, because it's pretty much supplanting the current banking
system in a big way. So Andy, we're going to
have you back on as things start to progress with this,
So thank you so much. Where can everybody find you

(27:35):
right now? I know you guys launched a brand new
Miles Franklin media channel over on YouTube, So where can
they find you?

Speaker 2 (27:42):
Give us a shot.

Speaker 5 (27:43):
We're excited to have Michelle McCrory running that for us.
Thank you for mentioning that. Look, we have a website
at Miles Strengthlin dot com. The best place to reach
out to us, not only to get our price list,
which for a myriad of reasons that I should really
have a discussion with online so people understand why it
this way, we keep close to the best ask for
our price list, no obligation or any questions you've heard

(28:07):
here or any of the other shows I'm on info,
I NFO at Miles Franklin dot com that Priceless will
be as good or better than anyone in the country,
and just as a caveat, we do update it once
or twice a week every week.

Speaker 3 (28:18):
If you find prices better, let us know.

Speaker 5 (28:21):
We'll beat it typically almost every time, but it's info.
I NFO at Miles Franklin dot com. Our website is
Miles Franklin dot com and of course Miles Franklin Media
on YouTube. And Paul, I've I've learned so much from you.
I've been watching everything that you're doing. I appreciate you
having me on and helping bridge these two communities together,
who again have more in common than we have a part.

Speaker 3 (28:43):
So I thank you very much.

Speaker 5 (28:44):
I look very forward to picking up where we left
off and hopefully doing it again real soon.

Speaker 2 (28:48):
Excellent. Thanks Thanks Andy for coming in. We appreciate it.

Speaker 3 (28:51):
You got it, brother. Stay well.

Speaker 1 (28:53):
All right, you guys, if you're not in our Diamond
Circle right now, make sure and get in on that.
That's our own private group that gets additional content, research,
all sorts of communication.

Speaker 2 (29:02):
From me, and we do that in an email to you.

Speaker 1 (29:04):
So it's very easy to join, and it's free it's
the link down below, or catch me out there on
x just at Paul Baron. We'll catch you next time
right here on The Paul Baron Show.