Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 📣 China Seizes Control of SILVER Price and Gold Price!

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📣 China Seizes Control of SILVER Price and Gold Price! · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:01
Is China preparing the economic nuclear option?
0:06
Is China right now controlling the price of silver and gold?
0:11
And what does that mean for your silver and gold that you own?
0:16
But today, big news. the Fed will announce monetary policy.
0:20
We're going to cover that and some fascinating ideas about
0:23
what it means for the future of the gold and silver price.
0:27
And of course, there is more doom and gloom coming in the US
0:32
economy. We got more big news pointing us
0:36
in the direction of a recession, of a possible depression as
0:41
well. We're going to cover it all.
0:42
Thank you guys for being here. Let's dig in right away.
0:45
Today is Fed day, right? Jerome Powell.
0:49
Let's get him out and say hello. Our old friend Jerome, right.
0:53
We'll see him. He'll be making a a guest
0:56
appearance today with his little Unicorn right?
0:59
His favorite, favorite thing to do, Print money.
1:02
Unicorn fart dust. What does it mean?
1:04
What's gonna happen? Today could be a massive day in
1:08
the gold and silver market. Let's run out quickly and take a
1:11
look at the current silver and gold price.
1:14
Just to get caught up to speed. We're gonna go out to pin backs.
1:18
Looks like gold. We're gonna refresh.
1:21
Gold's up $17.00. Silver up $0.19 per oz.
1:25
But guys we are not out of the woods.
1:28
Today could prove to be a tumultuous day for silver and
1:32
gold. Now I said yesterday that if we
1:35
have a Green Day today at the end of the day in the gold
1:38
market, in my book in my forecast we are an in for some
1:43
clear sailing, clean sailing, smooth seas, whatever you want
1:47
to say that the actual environment for the silver
1:50
pricing, gold price have in my book 100% changed.
1:55
If we get a big downturn in the silver and gold price today, I
2:00
think it's a bump in the road. It's not all things are lost.
2:03
I still think that we are in a general new environment of a new
2:08
weather pattern. The tide has still turned for
2:11
silver and gold, but if we go red today, it will be a little
2:15
drawback. I could see us dropping back
2:17
maybe to the 2150 range in gold, maybe to the $2423 per oz range
2:25
in silver. But at the end of the day, as we
2:27
talked about back in December, I believe we are in for some
2:31
clear, clear saving. Remember, this is so critical.
2:35
This is the good news for us to remember about silver in gold.
2:39
We really aren't fighting the Fed.
2:41
If you heard that statement, don't fight the Fed.
2:43
Don't fight the Fed. Well, guess what?
2:45
Hey, thank you. Ron McAdams.
2:47
Super Chad. Super appreciated.
2:50
We aren't fighting the Fed anymore, guys. the Fed, we
2:54
already fought them. The feds on the mat.
2:56
The feds laying there right Like the Rocky movie when the bully
2:59
finally gets knocked down to the ground.
3:02
We aren't fighting the Fed anymore.
3:05
But let's see. We're going to hear.
3:07
We are going to hear. Let's be prepared.
3:08
From our favorite PR firm today. The Federal Reserve in Jerome
3:12
Powell. I want you to think about this.
3:15
When do companies hire PR firms? When they need to spin a
3:20
subject, when they need to handle a crisis situation.
3:24
So the fact that the Fed is now more involved in perception,
3:28
management, public relations tells us one thing.
3:32
What they're trying to sell us isn't real.
3:34
They were a real bank, right? If they were, if they were
3:38
dealing with real money, they wouldn't have to do it.
3:41
I want to show you something very interesting, very
3:45
interesting. This is AUS dollar.
3:48
This is Monopoly money. These are are pretty much the
3:53
same thing. OK, this.
3:56
Oh, I dropped it. Hold on.
3:59
Sorry guys, I dropped dropped the silver.
4:02
This is a silver certificate. If you look below the $1.00, it
4:10
says very clearly that you can redeem this in silver, payable
4:15
to the barrel bearer on demand. This is a new dollar Monopoly
4:20
money. This over here is real money,
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right? Huh.
4:27
You get it? Do you see the difference?
4:29
This is what the Fed's doing now.
4:31
This is what they're talking about.
4:33
This is what the Fed should be doing, right?
4:37
Money backed by real metals. So what do we know here?
4:42
Oh, let's, let's, let's go to the Wall Street Journal and hear
4:45
what they have to say. Nick Timoros, do you know who he
4:48
is? He's the Fed whisperer.
4:50
He's the guy with all the inside information.
4:52
So you want to know what's really going to happen today?
4:55
Here we go. He wrote.
4:56
It's another wait and see meeting for the Fed.
4:59
But this time, the questions are likely to be tilted in the
5:03
direction of filling out the Fed's reaction function for
5:08
upside risks on inflation. Imagine that they're worried
5:14
about inflation and wages rather than on downside risk or benign
5:19
inflation. What he's saying here, guys, is
5:22
the Fed is in a box right now. They got to deal with inflation,
5:26
but do they have to deal with a contracting economy as well?
5:31
Let's go to our friend Don the Brain and see what he had to
5:35
say. We're going to go from Nick
5:36
Timoros to Don the Brain. And.
5:38
And here's what Don had to say. He told me this.
5:42
This is exclusive tomorrow quote.
5:44
Tomorrow is going to be an interesting day, but they have
5:47
to start recognizing the cliff's edge.
5:51
How? We already have two wheels over
5:53
the Cliff and there's no coming back when the third tire leaves
5:57
the road. They do not want to go over the
5:59
Cliff. They just want to keep the crowd
6:01
away from gold and silver. They will try to tie silver and
6:06
gold to the Dow, right? Because the Dow is gonna crash.
6:10
And the PR campaign keeps demanding that no one wants
6:15
stinky silver and dollar bills will will be diluted from the
6:19
next quote UN quote Quantitative easing.
6:22
Are the printers coming on tomorrow?
6:25
We shall see, guys. We could have a massive We
6:29
could. We could.
6:31
This afternoon is going to be massive for the silver price and
6:35
the gold price where I have a feeling be prepared.
6:38
Buckle up, buttercup. We're going to move big One
6:42
Direction or the other. It'll be interesting to see how
6:45
things play out. Hey, also I want to mention to
6:47
you at half past the hour we're going to have Daniel Diaz with
6:50
some breaking news on legal tender legislation joining us
6:54
here live in the basement. I forgot to mention that at the
6:57
beginning of the broadcast. Is the economy doomed?
7:01
You want to hear some doom? I We've got crazy proof, more
7:05
crazy proof that the economy is doomed.
7:08
We know this. We know that the dollar store
7:10
customers are broke. We've heard that from the CEOs
7:14
of those companies. We know that Ford F-150 buyers
7:18
are broke. We know the best selling
7:21
vehicle. I believe truck in the United
7:23
States is piling up an inventory on dealers.
7:26
Lots. What did we hear last night from
7:29
CVS and Starbucks? Let's go take a quick look.
7:33
Do you own Starbucks stock? I hope you don't, because here
7:38
is a live update on Starbucks. Down 16%, down almost $15 per
7:45
share today. If you do own it, my heart goes
7:47
out to you. I don't want to and I'm not
7:50
happy. I hate to see people lose money,
7:53
but who can buy Starbucks? Starbucks CEO said, quote a
7:58
deteriorating economic outlook. Hold on a second, The CEO of
8:04
Starbucks said what? Quote, a deteriorating economic
8:09
outlook has weighed on customer traffic?
8:13
Well, no joke. Laxman Narasamanhan is the CEO
8:20
who can afford a $12.00 Foo Foo coffee drink.
8:23
Maybe people are waking up, right?
8:25
Maybe they have to now buy food. Maybe they have to pay their
8:28
homeowners insurance, their mortgage payment, their student
8:31
loan payment, whatever the case may be.
8:33
But it's not just Starbucks. Let's take a look quickly at
8:38
another major US corporation, CVS pharmacies.
8:43
Let's see how they're doing today.
8:45
They announced their earnings yesterday down almost 20%.
8:50
Guys, this is a major sign of what's going on out there right
8:54
now in the economy. But wait, there's more.
8:57
Yes, there is more. What about McDonald's?
9:01
Unfortunately, we get heard this.
9:07
McDonald's and other big brands warn this is from CNBC that low
9:11
income, low income consumers are starting to crack.
9:15
OK, executives from some of America's largest companies have
9:19
said that consumers feel guys, this is happening.
9:23
I've said it the last few days, we in the next six months are
9:26
gonna see a major, massive recession in this country.
9:31
We know that the money supply is contracting.
9:34
We know inflation is killing the consumer.
9:38
And don't forget they like to brag that the United States is a
9:40
consumer based economy. Are you prepared?
9:43
Are you ready for what could be coming?
9:45
Look, I could be wrong, but I I have not over the last two years
9:50
said I felt like in the next like immediate future that we're
9:54
going to see major economic turmoil and I'm feeling it.
9:59
I'm going out on a limb, I'll stake my reputation, absolutely
10:03
believe that we're going to see it.
10:05
Here's what the CEO of McDonald's said.
10:07
It's clear that broad based consumer pressures persist
10:11
around the world. This is not just the United
10:14
States, Chris Kempedaginski said on the fast food chains earnings
10:18
call Tuesday. Quote, consumers continue to be
10:21
even more discriminating with every dollar that they spend as
10:26
they face elevated prices in their day-to-day spending.
10:31
All right, well, and it's not just McDonald's, OK?
10:36
Because it says here at McDonald's, that was evidenced
10:38
by same store sales growth coming in below Wall Street
10:41
expectations. They're going to be laser
10:44
focused. But what about 3 M executives?
10:47
AT3M, the maker of Scotch tape post it notes a lot of products,
10:51
also reported Tuesday, told analysts it's seeing, quote,
10:54
continued softness in consumer discretionary spending.
10:59
All right, what else it's happening, guys.
11:02
Have you noticed I'm getting every day I get these goofy, you
11:07
know these emails that you don't think you sign up for.
11:10
Do you have that problem? But you get like like spam or
11:13
e-mail sent to you all the time. This this company, I don't know
11:17
if it's realtor.com or one of these real estate companies.
11:20
I'm getting e-mail after e-mail saying that like houses and my
11:24
zip code where I live in Saint Louis.
11:26
Price drop $10,000. Price drop $20,000.
11:31
I believe the residential real estate market right now is
11:35
cracking here in the United States.
11:38
Prove me wrong. OK, what about me?
11:41
What about I have a reputation of being very frugal, very
11:46
resourceful with my money. Some people may call me a
11:49
tightwad. I don't care, OK?
11:51
I like to get the most for the money that I that I spend.
11:54
Thank you metal sear for the Super chat, my friend.
11:58
OK, Starbucks is the Canary in the coal mine.
12:02
Yes, very, very likely. OK, but I'm getting more and
12:06
more. I'm I'm the type of guy that if
12:08
I go out to eat, I want to have a coupon.
12:10
You can drive Susie a little crazy from time to time, but
12:13
she's learned to deal with me. Now I'm getting more offers
12:17
emailed to me, even from Branson, MO, where we go on
12:21
spring break. These hotels are emailing these
12:23
unbelievable offers. Come to Branson, $99 a night.
12:27
You get 4 free show tickets. The economy is slowing and the
12:31
fact that these restaurants, if they're not closing, are
12:34
starting to just mail out mass offers is but what is now, now,
12:39
now I'm going to get mad here 'cause this made me mad.
12:44
It has to do with a grandmotherly type figure that's
12:48
in all of our lives and we're going to get to that next.
12:51
But right now what we're going to do is say thank you, thank
12:55
you, thank you to channel sponsor Pinbex.
12:58
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13:01
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Now let's talk about this grandmotherly figure that he
13:59
should have us all very angry. You want to see her?
14:02
Here she is. See.
14:04
She's in a special box. Do not feed.
14:07
Do not give Chinese mushrooms. There she is.
14:10
Everybody say hi to her. Janet Yellen?
14:13
Yes, she used to be in the Fed box, but somehow she went from
14:17
being the head of the Federal Reserve to be in the Treasury
14:19
Secretary. How did that happen?
14:22
Isn't that interesting? Listen to what she said.
14:25
This should make you angry. This made me angry.
14:28
U.S. Treasury Secretary Yellen said
14:31
high inflation is due largely to fading supply shocks, OK?
14:37
And inflation has come down considerably.
14:40
This is going to make you angry. Although prices of many goods
14:44
are higher than before the pandemic, What?
14:48
No. Did she just say that prices of
14:51
many goods, some prices are higher than no Janet,
14:54
Everything's more expensive. When's the last time you went to
14:57
a grocery store or gas station or had to pay your homeowners
15:00
insurance or your car insurance or whatever?
15:04
Anything. It's all higher.
15:06
Sorry, that's not the part that's going to make you mad.
15:09
While she added she I cannot believe that Janet Yellen said
15:14
this quote, people are generally better off despite price
15:20
increases. I mean, are they?
15:22
Do they expect you to believe this?
15:24
Does that make you angry? People are generally better off.
15:29
Who do you know who's better off now than before?
15:32
The pandemic? Unless you won the lottery, OK,
15:34
that guy's better off. Unless you inherited $10 million
15:39
from your grandpa, you're better off.
15:40
Thank you, Silver State, for that super, super, super, super
15:44
chat. Wow.
15:45
Thank you. Who's better off?
15:47
Nobody. Can you believe she said that?
15:50
But she says there's more work to be done to to reduce living
15:55
cost. OK.
15:56
Thank you, Janet. This sums it up.
16:00
This is great. This is this is great.
16:04
Hold on here. This was a tweet.
16:07
I forgot. Who sent this to me?
16:08
Whoever sent it to me, thank you very much.
16:10
From The Chaser. Listen to If the world was a
16:15
Monopoly game, we'd be at the part where everybody rage quits
16:21
because all the property is gone, rent is unaffordable, and
16:26
one rich guy is ruining everyone's fun.
16:29
I mean, doesn't that just sum it up?
16:31
That's 99% of Americans. That's why people aren't buying
16:36
$12.00 drinks at Starbucks. That's why they're not buying $3
16:40
candy bars at CVS. That's why they're not buying
16:43
post it notes. Right.
16:45
But according to Janet Yellen, everything's fine.
16:48
Everything's fine. Yes.
16:50
OK, Janet, thank you very, very much.
16:53
I'm going to put this up to say thank you to our sponsors and
16:58
let's get back here. Oh, guys, there's oh, man, there
17:02
is so much more for us to to cover today.
17:05
All right. Oh, we didn't talk about China
17:07
gold. The big subject silver gold is
17:10
China cornering the silver and gold market.
17:14
Right. Is China preparing the nuclear
17:18
economic option? Nuclear economic war?
17:22
Not nuclear war, Not real. Hopefully not.
17:24
We don't want that. But nuclear economic war.
17:27
Let's dig in and look at this latest data.
17:40
Here we go. This is from our friends Gold
17:43
Star, Gold and Silver dropped. Did China did?
17:46
Was the downturn yesterday in the silver price and gold price?
17:50
Was it because of this interesting little tidbit of
17:54
information that we got from our friend John Little, right of the
17:57
pickaxe, The World Gold Council? There's links in the description
18:00
of this. The sky brings great information
18:02
every single day. Gold and silver drop.
18:04
China's Shanghai Gold Exchange closed for the week remaining.
18:10
Proof that Shanghai sets the price of gold.
18:14
Let's go down here and check out this.
18:16
OK, here's some details. The Shanghai Gold Exchange will
18:20
be closed from May 1st, Wednesday.
18:23
That was yesterday. Well actually that's today here,
18:26
but yesterday there to May 5th, Sunday.
18:28
It will also be closed April 28th and May 11th as usual.
18:34
But Bob, the market will reopen as usual on May 6th.
18:39
The Shanghai Gold Exchange Guys has been closed starting
18:42
yesterday basically through May 6th.
18:45
Some very smart people are saying that that's why they were
18:49
able to tamp down the price of gold and silver yesterday at the
18:55
COMEX and the LBMA because the Chinese are on holiday for
19:00
probably what is it Labor Day, right?
19:02
Or Mayday Labor Day? I don't know.
19:04
I I don't know Chinese holidays nonetheless.
19:07
But here this is interesting. Gold Star talks about why the
19:11
West hates gold and silver. They hate gold and silver.
19:14
Competitor for the Federal Reserve.
19:16
Note competitors. And we don't talk about this
19:19
enough of Wall Street financial instruments.
19:22
The mainstream Wall Street financial services industry
19:26
hates gold and silver, right? They can't sell it as insurance.
19:30
The pensions, retirement mutual funds, OK, that's what they
19:34
want. They don't want you to put your
19:35
money into silver and gold, huh? Yeah, well, we beg to differ
19:39
with them. The West hates gold and silver
19:43
also because it's money that does not present counterparty
19:46
risk to others. Money that can't be printed into
19:50
Infinity for war. Money that can't be printed for
19:53
other financial crimes. The western media outlets make
19:57
up reasons why Gold drops, silver drops.
20:00
They make up reasons, right? Man, we got clobbered yesterday.
20:04
They'll say it was a strong dollar.
20:06
We know that's a bunch of BS. That's like 3 sinking ships.
20:09
The s s. U.S. dollar, the s s Japanese
20:12
yen and the s s Euro. Which one's sinking slowest?
20:17
OK, that's the strongest of the sinking chips. the US dollar.
20:20
Interest rates. They'll blame it on geopolitical
20:23
events, employment numbers, price of oil inflation, PMI.
20:27
The Chinese laugh at us. We've seen Chinese state media
20:32
interviews with refiners at some of the big silver refiners in
20:37
China, and they are laughing at the United States.
20:40
They say we need higher silver prices, We need more silver in
20:44
China, right? And they're laughing.
20:46
They're like the price is too low.
20:49
And in the United States, they say like, it's because of their
20:52
Federal Reserve right? The biggest PR firm, the biggest
20:56
perception management firm in the history of the world.
20:59
He makes the Wizard on the Wizard of Oz look like, I don't
21:03
know, Bobby from Lassie Show or whatever the heck it is.
21:06
So there we have it. That's the China situation.
21:09
But wait, but wait, because there's even more when it comes
21:14
to China. And what's going on?
21:16
Nuclear option, right? Are you kidding me?
21:20
Hey, we got 700 people here. Thank you, guys.
21:23
This is awesome. Big deal.
21:25
Thank you for the thumbs up. Thank you for subscribing.
21:28
Let's go into this Newsweek headline 100.
21:32
And 75 thumbs. Up.
21:34
OK, Thank you, Susie. China may be preparing to
21:37
deploy, quote UN quote, economic nuclear option.
21:43
What? What is China doing?
21:45
This is, this gets this, this gets scary and fascinating.
21:52
China has been China has been buying up all the commodities at
21:56
a rapid clip, prompting analysts to wonder out loud whether
22:02
Beijing is preparing to choose the economic, quote UN quote,
22:06
nuclear option. And I heard of this the last few
22:09
days. More and more top analysts are
22:12
saying, quote, China is preparing for something major.
22:16
That seems increasingly obvious, judging from the stockpiling of
22:20
important resources. We're gonna look at what they're
22:23
doing with gold here in a minute, guys.
22:25
And it is crazy. Could it be that they're
22:28
preparing a major one off devaluation of the Chinese Yuan?
22:34
That's from Andreas Stano Larson, CEO of Stano Research.
22:38
Currency devaluation is widely described as a nuclear option by
22:42
economists due to serious global repercussions.
22:45
It could trigger. OK, this could be a massive
22:49
China is up to something and let's skip down here to a tweet
22:55
that that that steno Larson put out.
22:57
He said tell me a devaluation is is coming without telling me
23:03
that a devaluation is coming. Like what evidence do we have?
23:06
A major devaluation of the Chinese yuan could be eminent.
23:11
OK, this is a chart of Chinese gold trading activity.
23:16
Look at this, guys. Back in 2015 through 2020,
23:22
right? It went up.
23:23
It went up a little bit. 2023, Whoa.
23:27
I think they call that a hockey stick, right?
23:30
That's called a hockey stick on a graph, right?
23:32
Because here's the blade of the hockey stick, and here is the
23:36
handle, straight up. Is this not crazy or what?
23:41
And I forgot to show you this. Hold on one second.
23:44
Another crazy chart. This one from James Anderson.
23:47
Our friend James Anderson, very, very smart guy.
23:51
He says a kilo. Gold bars are the standard in
23:54
China. Yesterday, the Shanghai Gold
23:56
Exchange had nearly 15,000 physically settled contract
24:00
deliveries. The new trend is 2 times where
24:03
delivery volumes used to be. So yeah, look like this is one
24:08
this one year. What's, my Lord, look at the
24:12
volume of gold on the Shanghai Gold Exchange.
24:15
Is it not getting just absolutely crazy at this point?
24:20
I mean, guys, something is happening.
24:23
Something big, big is happening, OK?
24:28
There's no other way to put it. There's no other way to to to
24:31
say that we have major, major changes coming.
24:35
Don't forget we're going to have Daniel Diaz joining us shortly
24:40
from the Citizens for Sound Money to give us some breaking
24:44
news about gold and silver legal tender legislation.
24:47
Does it matter to you? I ask you that question.
24:52
Does it matter to you? Yes, it matters if you own gold.
24:56
Do you own silver right? Absolutely.
25:00
State laws to protect you, to protect your right to hold that
25:05
metal. To protect your right to use it
25:08
is legal tender absolutely matter to you.
25:11
It could be one of the major factors.
25:13
We've seen this before. It's what the founding fathers
25:16
put in the Constitution To protect you.
25:18
To protect me. To protect us.
25:21
Right from the federal government, Right from money
25:24
printing. All right, let's run out here,
25:26
guys. Let's get a a quick update on
25:29
what is happening in the silver and gold price.
25:34
Come on now. All right, Gold still up $17.44.
25:40
Silver up $0.20 per oz. Let's run out and look at the
25:46
today's headlines. Let's see what the mainstream
25:50
media is telling us about what's going on in the markets.
25:54
OK so the S&P 500 down, the Dow up, the NASDAQ down a bit.
25:59
Stocks trade mix with the Feds, Powell and Spotlight.
26:03
So everyone expects everyone expects our old friend Jerome
26:09
Powell to talk about hire for longer.
26:12
Let's talk about the scenario where we get absolute crazy good
26:18
news for silver and gold investors and that would be if
26:22
he even at this point, if he even think about what's happened
26:27
guys with silver and gold over the last six months, right.
26:31
The prices have been strong even where we're sitting today have
26:34
been strong. Hold on cowbell, OK, I'm going
26:38
to ring the cowbell in just one second.
26:40
We we have had a strong silver price, a strong gold price in
26:44
the face, in the absolute face of adversity, right.
26:49
The gold and silver went out for a jog and they were running into
26:54
a 20 mile per hour wind and they had one of their best times
26:58
ever, right? This is what has happened.
27:00
If we get even the slightest hint from Jerome that that
27:06
monetary policy is going to be easier going forward, it's going
27:11
to send the gold and silver price flying higher.
27:13
Now if he gets overly because everyone's expectations have
27:16
shifted back to more hawkish. But the crazy part that we need
27:20
to remember and need to celebrate and be happy about
27:23
right now is that gold and silver have done well in the
27:25
face of that adversity. Could he get more hawkish?
27:29
Yes. Could we end today red in the
27:32
gold price, in the silver price? Yes.
27:35
It's such a clown show. It's such, a you know what,
27:38
there's like a 0% chance that they're going to raise rates.
27:41
There's like a 0% chance that they're going to lower rates.
27:45
What it's really going to come down to is what they say, right?
27:48
I'm sure they'll be a press conference afterwards.
27:50
Everybody be hanging. We could have one word uttered
27:54
from his mouth that sends the gold price up $50, silver price
27:59
up 50-60 cents per oz, or down $50 or down 50 or 60.
28:05
But the important thing to remember is that at the end of
28:09
the day, right. At the end of the day, what?
28:14
What? What we know is that the
28:16
fundamentals have not changed for the silver and gold price.
28:21
I see our friend Daniel, we're going to bring him on here in
28:23
just one second. But first, right, an old
28:26
tradition here in the basement, the cowbell 200.
28:30
Thumbs up. Thank you, guys.
28:31
We really appreciate I'm going to throw on.
28:39
Let's bring on Daniel Diaz from Citizens for Sound Money.
28:42
Hey, Bob Brown. Thank you for that super chat,
28:45
my friend. Thank you.
28:49
Hold on here. Here we go.
28:51
Whoop, whoop, here we go. Bob Brown says we can all bet
28:55
the government is not going to do the right thing.
28:57
So the price of metal should go up and up and up, right?
29:00
There's so many different ways to say that.
29:03
At the end of the day, unfortunately, the real value of
29:07
the dollar is going down. Let's bring on our friend Daniel
29:11
and get an update. And here we go.
29:14
Daniel, can you hear me? Yeah, Ron, how you doing?
29:17
I'm doing great. How are you guys?
29:19
This is Daniel Diaz from the Citizens for Sound Money.
29:23
He's joining us. You know, we've been to Shanghai
29:25
this morning. I'm in Saint Louis.
29:27
And Daniel, I believe you're in the Springfield area right now.
29:31
And you've got some news for us about what's going on with legal
29:34
tender legislation. Yeah, absolutely.
29:38
So on first of all, hello basement dwellers.
29:41
And Patrick says hello basement dwellers.
29:45
So I wanted to get that out of the way.
29:46
Yeah, for the, for the, for the. I mean, let me interject for
29:48
those of you who who are, who, who feel like Daniel's joining
29:52
us from familiar surroundings, believe you're in in Patrick
29:57
Holland's studio right now. Yeah, his basement.
30:01
All right. It's appropriate, right.
30:04
So that's right. I yeah, on on Monday, we
30:08
actually were able to get SB-735 pass, which is the
30:12
Constitutional Money Act and that was a lot of fun.
30:16
But I mean, do you want me to get into what happened and how
30:19
we were able to get it passed, Ron?
30:24
Give us a give us a brief, Give us a brief rundown.
30:27
We don't need to get into the real minutiae, but kind of how
30:30
this works and and how you have to work, how hard you have to
30:34
work to get this type of legislation passed.
30:37
Yeah. So we were getting to the
30:40
Capitol, and as we were driving the Capitol, we thought we had
30:44
the 18 votes to get something passed through the Senate.
30:47
You had need to have 18, regardless of how many senators
30:49
vote. And when we arrived, we're just
30:52
Senator Eigel asked us to check and make sure that all the
30:55
senators were voting yes. And the first Senator we went
30:58
to, she had Senator May had an incident where she couldn't come
31:05
into the Capitol. So that was our 18th vote and
31:07
the only Democrat. So we at that point we only had
31:11
17, which means SB 735 was going to pass.
31:13
So then we went into action and we started whipping votes
31:17
running left and right and literally to the last second, we
31:21
didn't get the the vote until until right before they got on
31:26
the floor. And it was Senator Mosley,
31:28
another Democrat, that voted yes on the bill.
31:30
So let me tell you that you, for those of you who think that
31:34
showing up to the Capitol doesn't work, it 100% does.
31:38
Because Patrick and I were talking on the way back from the
31:41
Capitol, we looked at each other like, you know, if we didn't
31:45
show up, we probably would have gotten this pass because if
31:48
Senator Mosey didn't vote, it would have been 17 votes.
31:51
And then the three Republicans that made it 21 afterwards, they
31:54
voted no or didn't show up the last time.
31:57
So because it had already passed, there was no, we believe
32:00
and others believe in the in the legislature that they would not
32:04
have had the political will to vote yes because there was no
32:09
reason to, because they already passed.
32:12
So I mean that was it was a huge victory.
32:15
Now it's through the Senate and we're streamlining it.
32:19
We've been told to hold off on anything.
32:22
The bill handler, Representative Bill Hardwick is working hard
32:27
right now on trying to get it through his committee.
32:29
We just had a second reading this morning.
32:32
It's going to be assigned to his committee, which is emerging
32:35
issues committee here soon. And he's like, hey guys, you
32:39
know, I know you guys have an army of people that want to come
32:42
and make phone calls, but just hold off until we get on to the
32:45
calendar. Then when we need to vote for
32:48
the entire legislature, we get it.
32:50
So right now we're in the holding pattern.
32:51
We're we're leaving our faith on Representative Hardwick.
32:54
He's doing a fantastic job. He's a great leader that he's
32:57
very well expected in the legislature in in Jefferson City
33:02
and that that's where we're at. And you know we're really
33:03
excited because this is the first time I've personally been
33:07
a part of the bill getting through one chamber.
33:11
All the other sound money acts that I've been working on have
33:14
died either in committee. It's never gone through a
33:16
chamber. So this is extremely exciting
33:18
for us. It's actually the only state in
33:20
the country that has the Constitutional Money Act or as
33:23
we call it outside Missouri, the Sound Money Act, intact in its
33:27
entirety. And that's huge.
33:29
It's going to be a game changer. It will make Missouri look, one
33:32
of the nicknames for Missouri is the bullion state.
33:36
And I think if we pass this bill I think it should become the
33:38
official model of the state instead of the Show me states,
33:40
the bullion state because it's going it's going to be the
33:43
number one state in the country with the most.
33:47
How do you say that the most comprehensive sound money
33:50
legislation in the country not only is it going to make gold
33:53
and silver illegal tender, gets rid of capital gains tax, allows
33:56
business owners to pay their employees in gold and silver.
33:59
Both parties agreed allows for transactions and contracts to be
34:03
done in gold and silver. Both parties agree and it forces
34:06
the the state government to receive taxes in gold and
34:10
silver. The Department of Revenue
34:11
promulgates the rules on how that's going to happen and not
34:15
on what I think is the most important.
34:17
And I know it's a mixed feeling with the basement dwellers, but
34:19
it makes gold and silver electronic and transactional so
34:23
that you can actually use a debit card and spend your gold
34:26
and silver or use something like a a Venmo payment system to send
34:31
gold and silver to to each other and another byproduct.
34:35
And this is something that a lot of actually a few senators and
34:39
some representatives had some issues with concerning the bill.
34:43
Say what what? How about business owners?
34:44
Well, this is enabling legislation.
34:47
It does not force business owners to take gold and silver,
34:50
but if they do it's going to be beneficial for business owners
34:54
because if they they accept electronic gold and silver,
34:57
there's payment systems that you can actually receive gold and
34:59
silver. They'll be saving between 2 to
35:01
400% on credit card transaction fees to the to the because look
35:08
a credit card when you swipe it, the business owner absorbs that
35:11
cost the 2 to 4%. But if they switch to electronic
35:14
gold and silver and you pay him, he's only going to be paying
35:17
between 22 to 45 basis points or 4.45 point two 2% versus 2 to 4%
35:25
which is a huge savings. And the National Federation
35:29
independent businesses when they heard that they decided to make
35:31
the sound money Act next year, one of their top priorities
35:34
because it's one of the top issues that they've been
35:36
fighting for for years. How to get onto the thumb of
35:38
Visa and MasterCard with all these fees.
35:41
Wow. Wow.
35:42
Yeah. And and when you think about the
35:44
prospect as a silver, so I'm I'm a, let's say I'm a our viewer
35:49
joining us right now is a silver and gold stacker, right.
35:52
They love silver. I can tell you with a high
35:54
degree of confidence, right. The basement dwellers love their
35:57
physical silver, love their physical gold.
36:00
This type of legislation will not in any way prohibit them
36:04
from continuing to stack silver and gold.
36:06
It'll actually provide them with some additional safeguards, but
36:10
on top of that, right, it gives the option the ability.
36:15
Let's say you go out to lunch with your with your your wife or
36:18
your husband or you. Or you go to Home Depot to buy
36:21
some things that at some point in the future that you could
36:24
actually electronically use your physical silver and gold.
36:29
Not the stuff that you have at your house, but remember you can
36:32
still keep it at your house, but you could have an account where
36:34
you have your your value, your money stored in silver and gold.
36:41
Then you could actually use that electronically to to pay for
36:45
goods and services. Is that is that an accurate
36:48
prospect of what we might see in the future, Daniel?
36:52
Yeah. And in fact, if you wanted to
36:55
liquidate your gold and silver, right that you have at home,
36:59
let's say you have hundreds of $1000 in gold and silver or 50
37:02
grand in gold and silver and you want to start spending that gold
37:05
and silver without selling it. You can actually send it to a
37:08
company like the UPMA or Kinesis or load and they will digitize,
37:15
they will do one for one, make it liquid and then you can start
37:19
spending your personal gold and silver with debit card.
37:23
So there's, this opens up a bunch of solutions and because
37:26
it's legal tender, there is no capital gains.
37:28
Let's say you even sell your gold and silver.
37:31
There's no capital gains now because you know it's it's
37:34
currency, it's legal tender, and it's.
37:36
And it and and it's and I got to I'm sorry to interrupt you and
37:39
it's potentially massive for the demand profile in the West for
37:46
silver and gold as well. Right.
37:48
And it's not gonna take away from people continuing to stack
37:52
gold continuing to stack their physical metal.
37:54
Right. Like I love I was just holding
37:56
this up right. I love this stuff.
37:57
It's not gonna take that away but it will add a whole new
38:01
layer right. Making it functional to be used
38:05
in business transactions, to be used in Consumer Financial
38:08
transactions. It could create a massive and it
38:11
allows people like, I'll be honest with you, OK, I have a
38:14
bank account right, right up the street, right at my local bank.
38:18
You know, it's a bank with like 12 branches.
38:20
And I've got some Susie and I have some money in the bank and
38:23
we use that money to pay our bills because I can't use this
38:28
right now to pay for my bills. But what you're talking about is
38:33
an environment or a scenario where it becomes more seamless
38:37
and it's actually beneficial to businesses to take this
38:40
electronic form of silver and gold.
38:43
And how could that not potentially result in like a
38:47
massive demand increase for silver and gold.
38:52
And and then I I will, I will let you speak again, Daniel, I
38:56
promise you. And on top of that, allow people
39:00
like me and Susie who instead of having our money at the bank
39:04
stored in these things, this is this is the new kind, right?
39:08
Monopoly money? No, Daniel, How many times this
39:13
is Monopoly? Money.
39:14
Yeah, I get so confused sometimes.
39:16
Yeah, now it looks alike and it feels alike.
39:19
But if there there's a there's a slight difference, A slight
39:21
difference, but I could actually say having the money in the bank
39:25
in dollars, I could have the money stored somewhere in gold
39:30
and silver and wow, what can I earn money Instead of this
39:35
storing it in this, which I'm guaranteed to lose at least 3%
39:40
per year, I could store it in this.
39:44
Yeah, in this which which I'm pretty confident.
39:48
Well, I love the way that looks when it shines, is gonna keep up
39:51
with inflation over time. Sure, there'll be short term
39:54
price fluctuations, but what am I missing here, Daniel?
39:59
Nothing. It is literally the best thing
40:02
that can happen to our economy. And you know, I look, I would
40:06
love to start paying in silver. I would love to start paying in
40:10
gold Gold backs as legal tender, you know.
40:13
Like Wyoming is one of five states that have made gold and
40:16
silver legal tender and they have a the retail businesses,
40:20
30% of them accept gold backs for goods and services.
40:25
Utah, I'm not sure how much the penetration is, but there's a
40:29
similar situation there because Gold Backs is was founded in
40:32
Utah. You know it it's it's a a
40:36
beautiful thing that we can put our economic energy.
40:38
I like, I like using this example.
40:40
Now when we go to work, we're exerting our economic energy for
40:43
a wage. That wage unfortunately is paid
40:46
out in currency. That currency loses value.
40:49
If you don't immediately spend it, you're losing purchasing
40:52
power. If you try to save it, you're
40:54
losing purchasing power, right? But if you put it in or if in
40:59
this state, if we get it passed, you can ask your business or
41:02
your your employer to pay me in gold and silver.
41:05
And now you don't have to worry about your economic energy
41:09
losing value that that wage that you receive will actually
41:12
preserve itself versus being in the dollar or or any currency
41:17
that is Fiat and not backed by gold and silver.
41:19
So this is the it's going to help the the poor, It's going to
41:22
help the middle class and the rich have taken advantage of the
41:25
kennel, in fact, but they decide to go to sound money.
41:27
It'll help them too. Yeah, it will.
41:29
No, it will help the poor in the middle class because like you
41:33
said, they'll be able to store the fruits of their labor in
41:38
something that's not guaranteed to go down in value.
41:41
You said something earlier I want to touch on.
41:44
You said it, quote UN quote it, that this could be the best
41:48
thing to happen to the economy. I recently read that the that
41:53
the 180 years like we had a gold and silver standard in the
41:59
United States for 180 years, that those 180 years marked like
42:04
the most growth of any economy in the history of the world that
42:11
we accomplish more during. I mean you know an average
42:15
Americans just don't realize this.
42:17
They don't get it. They don't understand right.
42:19
I mean but I think slowly right as we we start with Missouri
42:24
right here in the middle of the country and if we can have the
42:27
most robust set of laws related to legal tender legislation that
42:33
even maybe and I know other states, Utah about other states
42:36
but that it could even as it continues to spread state by
42:40
state. Because Daniel what we haven't
42:42
even talked about is we know that on a worldwide, I was just
42:45
talking about China, right. People are saying China's up to
42:48
something. I mean if you look at these
42:49
graphs of the amount of gold then and silver and copper for
42:54
that matter as well that China is acquiring, we know what's
42:57
going the world is going back to the gold standard.
43:02
That's a that's a broad statement and are the world is
43:05
moving or the pendulum sure seems to be shifting in that
43:10
direction, right. And then in America you got
43:13
state by state by state, right. At some point, the federal
43:17
government and our old friend Jerome Powell at the Federal
43:20
Reserve are gonna be forced in some way, you know, by default,
43:25
to recognize the real value of the metals.
43:28
Yeah, 100%. You know and it's look Zimbabwe
43:32
is the first country in the world to go back to a partial
43:34
gold standard right there. There's Zig, there's Zig, which
43:39
is Zimbabwe Gold is backed up primarily with gold that they
43:43
have in in their reserves and their Volts, but it's also a bag
43:46
of Fiat currency. The dollar is the primary
43:49
currency that's back in it. But look, it's still harder
43:52
sounder money than the dollar And.
43:54
And in fact the head of the Central Bank of Zimbabwe said
43:57
that he's afraid of a deflationary event because the
44:00
Zig is gaining so much strength against the dollar.
44:03
You know that and that. That was like a week after they
44:05
launched the Zig, Zig currency and bricks, bricks is throwing
44:10
off the chains of the dollar. Look, these countries are sick
44:12
and tired of the United States bullying them and threatening
44:15
with sanctions. And they and look, America, if
44:20
you ever read, if you readers ever heard the book The New
44:25
Confessions of Economic Hit Man, the the author, it describes
44:29
American corporations like Exxon.
44:32
And I don't know, you just name a bunch of different
44:36
conglomerates that are international.
44:38
He calls that empire American empire.
44:41
An empire has been taking all the natural resources from the
44:45
developing world and forcing these government officials to
44:48
take WIMF World Bank loans and then giving those loans directly
44:55
to the American corporations. And then they're they're feeding
44:58
the pockets of the the leaders for and and creating corruption.
45:02
And wherever American companies went to they ain't.
45:05
Yeah looks like the GDP for the whole country went up.
45:08
But in reality it was only the top tier of the political class
45:10
that was getting richer and they were getting so rich.
45:12
It was dragging the entire GDP of the of the country up.
45:15
And the South is done with it. It was it was a horrible deal.
45:19
They lost all their natural resources, all the potential
45:21
wealth and it went to America. And this is a consequence of of
45:26
greed, of of the capitalism without ethics and morals.
45:32
That is what happened in America.
45:34
And a post this I don't want to get into philosophy in this
45:37
postmodern era, but forget that. Let's just look it's they're
45:42
getting away from the dollar for a bunch of reasons.
45:45
They. Are and I think it's interesting
45:47
what you brought up regarding Zimbabwe and inflation.
45:51
We are. So I was talking to my dad the
45:53
other day you know, and and I said we're we're, we're, we're,
45:58
we're so used to the fact that prices just go up in this
46:03
country. And I was trying to explain to
46:05
him that like inflation is stealing from the poor in the
46:10
middle class and even the upper middle class, 'cause, you know,
46:13
more of the upper middle class is moving down in the middle
46:16
class now. Right?
46:16
That our government instead of raising taxes and being
46:22
responsible about how they spend the money, right.
46:25
If they want to go off on some war to usually support an agenda
46:30
like you just spoke to earlier somewhere in the world if they
46:34
wanted. If they want to do that now,
46:36
they don't have to raise taxes, they can just you borrow money,
46:40
print money, right? And and what happens is the
46:44
value of the dollar goes down South.
46:46
Prices go up, right? A gallon of milk instead of
46:49
costing $2.00 now cost $3, right?
46:52
But under the gold and silver standard, when if, if the if, if
46:57
the country wants to go off to war, they need money, right?
47:00
But they also they need the gold and silver.
47:02
So they they're either forced to cut back spending in other
47:05
areas, right. And and and, and, and and it and
47:10
it. It prohibits a lot of this, you
47:13
know, war for one thing that's going on.
47:15
But it prohibits the government from stealing through inflation
47:19
from the poor and middle class. Yeah, well it it also requires
47:23
the consent of the governed on whether we want to go to war.
47:26
Because back then to get money for war, we had to buy war bonds
47:31
and those new bonds we turned in our gold or the gold backed
47:34
currencies and then the government will then use that
47:37
money to go to war. That's how it used to be, the
47:39
consent of the governed to go to war.
47:41
And now it's like oh, who cares? We can print whatever we want.
47:45
We can go to any wars we want. We can have proxy wars until
47:48
Infinity, until the end of time, or until the nation collapses,
47:51
because we can just print as much currency as we want and we
47:54
can fund this, this faction, and we're here in this continent,
47:57
this faction, we're here in that continent.
47:58
Look, Fiat has ruined everything.
48:00
Fiat has ruined health, has ruined education, has ruined the
48:05
arts, has ruined the family. You know, like it's it's when
48:09
you can print currency and make people think it's money and just
48:13
give it away with by the 5th, you know, by the fistful.
48:18
Well, like, why ever collect? Like what?
48:20
My question is why even collect taxes now, right.
48:22
Like we're we're in almost a $2 trillion deficit every year,
48:26
more give or take. And you know, just stop
48:29
collecting taxes. Just print this imaginary money
48:32
because you're going to do it anyway.
48:34
And you're you're you're destroying the economy.
48:36
Just print it. Or we go to a sound economy and
48:39
we fix the world. I believe in the phrase fix the
48:41
money, fix the world and we can go back to a sound money
48:43
economy. We'll fix many of the problems
48:45
that Fiat currency has caused. Yeah.
48:47
Yeah. Daniel, thank you for joining us
48:50
today and thank you for your tireless efforts on behalf of
48:54
really all the citizens of the United States.
48:57
I know you're working on a national basis, state by state,
49:01
to further the legal tender legislation.
49:04
We appreciate what you're doing. We appreciate what you're doing
49:07
right now right in the middle of America.
49:09
I know you're on the road all the time.
49:11
So thank you. OK, And and if people want to
49:15
learn more about your organization, Citizens for Sound
49:17
Money, how would they do that? You would go to Citizens, the
49:21
number for soundmoney.org and if you want to learn about the
49:26
states, we're we're in the process of updating our campaign
49:29
list. So click on Legislative
49:30
Initiative, Find Campaigns and you'll see the 24 states.
49:34
We have our executive assistant updating that actually today to
49:37
get the most up to date information on the legislation.
49:40
And if you want to follow us on Twitter, it's at the number 4
49:44
sound money. Number at #4 Sound money.
49:48
OK, OK. And it's a not-for-profit
49:50
organization, so people want to donate to you.
49:53
There's that. That's explained on the website,
49:55
I imagine. Yeah, so Cities with Sound Money
49:58
is AC4. We have just gotten approved our
50:00
C3 which is called Sound Money Movement.
50:04
So if you want to do a a tax deductible donation, let us know
50:08
and we'll get that set up for you.
50:10
Sounds good, Daniel. Thank you.
50:12
We'll look forward to seeing you again in the basement.
50:14
You're a regular guest. Keep up the good work.
50:16
And on behalf of all the basement dwellers, thank you for
50:20
your efforts in the silver and Gold community.
50:24
Thank you Ron, for having me on. And thank you basement dwellers
50:26
for listening. See you, Daniel.
50:30
All right, guys. That's Daniel Diaz.
50:32
Thank you for being here today. Hold on a second.
50:36
I'm getting a call from the boss.
50:37
What was that? A time for the train was for
50:41
400, but could you do the gong? Please.
50:44
Yes, I'll do the gong. Hey, we got a lot of thumbs up.
50:46
Thank you, guys. Right.
50:48
Over 700 people with us right now.
50:50
Let's do the gong as a show of appreciation, huh?
50:56
Thank you for the thumbs up. Thank you for subscribe.
50:58
Thanks for all the Super. Now I know how loud that is.
51:07
When I have these earbuds in, I forgot I had the earbuds in.
51:10
I think I about blew my ear drums out.
51:12
Now I know what Why people say it so loud.
51:15
What else do we have? Hey, you guys have been you've
51:17
been requesting. I used to do little talks about
51:22
products that I love. It's almost summertime.
51:25
Do you need to get yourself a pair of sandals?
51:28
I'm going to show you. Where are they?
51:29
Here. I found the best sandals ever.
51:31
I've owned these for a year. OK, here you go, right here.
51:36
Susie's going to kill me for this one, but I'm going to tell
51:38
you what, and I'm going to bring you out real quickly to show you
51:41
why I think these, and not just me, are the best sandals that
51:46
you could ever get. 35, almost 36,000 people have given these
51:51
pretty much five star ratings. OK, now, funny story.
51:55
That's the exact same sandal I have right there.
51:57
And I was like, I like those sandals, but I don't really like
52:00
the color, blah, blah, blah. I didn't realize you can also
52:03
get these in every color under the sun.
52:08
I'm going to put a link to them and and and again, you know, I
52:12
only talk about things that I love.
52:13
Summertime's coming up, right? You need to get yourself a pair
52:17
of comfortable sandals. I've worn these for a year and I
52:19
love them. I'll put a link to them in the
52:21
product description below. But most importantly, OK, I want
52:25
to say thank you again for joining me today.
52:29
Thank you to Daniel Diaz for joining us.
52:32
I'll encourage you to check out our sponsorspinbex@pinbex.com
52:36
and of course first mining gold at firstmininggold.com and our
52:41
friends Fortuna silver@fortunasilver.com.
52:44
Thanks for being here. OK.
52:46
And have a great day.