Latest / The Paul Barron Crypto Show / Gold & Silver POUR Into Crypto!🚀Andy Schectman INTERVIEW

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Gold & Silver POUR Into Crypto!🚀Andy Schectman INTERVIEW · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Let's jump into gold and silver and the market update,
• 0:03
  Speaker 1: because there are some big things that are happening that
• 0:06
  Speaker 1: are connected to blockchain and crypto. You guys are not
• 0:09
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• 0:49
  Speaker 1: there's a lot going on in the gold market right
• 0:51
  Speaker 1: now and the silver market, and we wanted to bring
• 0:55
  Speaker 1: someone in that could help us unravel all of what
• 0:58
  Speaker 1: we are finding on our research. You know him, and
• 1:01
  Speaker 1: that is mister Andy Sckman coming in from Miles Franklin.
• 1:03
  Speaker 2: How are you, Andy, Well, I'm great, brother, Thanks for
• 1:06
  Speaker 2: having me. Hope you are too. Yeah.
• 1:08
  Speaker 1: Okay, So we have a lot to talk about today.
• 1:11
  Speaker 1: There are some interesting things happening. To a certain extent,
• 1:16
  Speaker 1: I will say that there are some things happening that
• 1:19
  Speaker 1: may unveil a big master plan, and I want to
• 1:22
  Speaker 1: start it off with Andy on something that you and
• 1:27
  Speaker 1: I will get a chance to talk about where tether
• 1:28
  Speaker 1: plays into this, but I want to show you something
• 1:30
  Speaker 1: real quick, token ised commodities. Right here, we're looking at it.
• 1:33
  Speaker 1: You guys can see the amount of asset holders and
• 1:36
  Speaker 1: the kind of movement. I'll zoom in on that for
• 1:38
  Speaker 1: you guys to see this little bit of movement right
• 1:40
  Speaker 1: there on Paso. So big bump right there. There's some
• 1:43
  Speaker 1: reasons for that, but this is digital gold and we
• 1:46
  Speaker 1: are seeing a movement that is happening right now. Three
• 1:49
  Speaker 1: hundred thousand holders Andy for digital gold Gold has made
• 1:54
  Speaker 1: its way to the blockchain. Do you think is this
• 1:57
  Speaker 1: regular OG's buying this or do you think this is
• 1:59
  Speaker 1: an new gold buyer?
• 2:01
  Speaker 2: You know, I think it's hard for me to think
• 2:03
  Speaker 2: that it's it's the anything, but the new buyer because
• 2:08
  Speaker 2: a lot of the ogs wouldn't even know how to.
• 2:11
  Speaker 1: Do where to get it?
• 2:12
  Speaker 2: Yeah, right, what it is, it's digital rails increasingly carrying
• 2:16
  Speaker 2: claims and real world assets. And that is where we're going.
• 2:20
  Speaker 2: And I think gold could potentially become money with modern rails.
• 2:24
  Speaker 2: And I think that's you know, when you look at
• 2:27
  Speaker 2: the historical weakness as everyday money in terms of its practicality, heavy,
• 2:32
  Speaker 2: difficult to divide, expensive to move, cumbersome, et cetera. This
• 2:37
  Speaker 2: digitization potentially changes all of those characteristics without changing the
• 2:41
  Speaker 2: underlying asset.
• 2:42
  Speaker 1: If you do it right, I would have not said
• 2:45
  Speaker 1: that gold is money prior to about the last six
• 2:49
  Speaker 1: months of research we've been doing on this. I think
• 2:52
  Speaker 1: it is now. I think we're at that point. And
• 2:54
  Speaker 1: some of the things we're going to show you today
• 2:56
  Speaker 1: may line up exactly with what you're saying. And you've
• 3:00
  Speaker 1: you've talked about this a little bit in terms of
• 3:03
  Speaker 1: a theory that tether is I won't say secretly, but
• 3:07
  Speaker 1: is buying gold in a way on behalf of the
• 3:10
  Speaker 1: US government. I want to go to a tweet right here.
• 3:12
  Speaker 1: This is a guy by the name of Brandon Lutnik.
• 3:15
  Speaker 1: Now This is Howard Lutnik's son, and he of course
• 3:19
  Speaker 1: is congratulating Paolo, who is the CEO of Tether in
• 3:23
  Speaker 1: reference to not only the audit that's gone through, but
• 3:28
  Speaker 1: also the strategy I think that Tether has been making,
• 3:31
  Speaker 1: and that is shifting a lot of bitcoin over into
• 3:34
  Speaker 1: gold acquisition, which of course continues to climb. And with
• 3:38
  Speaker 1: that being the case, if you kind of connect the
• 3:41
  Speaker 1: dots here with Cantor Fitzgerald, which is owned by Howard Lutnik,
• 3:47
  Speaker 1: and the amount of money that these people have involved
• 3:50
  Speaker 1: into Tether themselves, this starts to change things up. Give
• 3:54
  Speaker 1: me a basis of what you think is going on
• 3:58
  Speaker 1: here with Tether and Goldy.
• 4:00
  Speaker 2: You know, I don't know if I'm stupid to say
• 4:03
  Speaker 2: it or just say what I think is plausible. You know,
• 4:07
  Speaker 2: on one hand, you had Tether in trouble with the
• 4:11
  Speaker 2: Justice Department kind of fizzled out. You have bo Hines,
• 4:16
  Speaker 2: the former crypto advisor for Trump his confidant, now in
• 4:22
  Speaker 2: as CEO of USA Tether. It's kind of like putting
• 4:26
  Speaker 2: Stephen Myrn, who wrote the Mari Lago accord, into the
• 4:30
  Speaker 2: vacated role at the FED. In my mind, you have Teather,
• 4:33
  Speaker 2: who reportedly bought more than twenty seven metric tons of
• 4:36
  Speaker 2: gold in the first half of this year. They bought
• 4:39
  Speaker 2: more gold in the fat in the last couple of years,
• 4:41
  Speaker 2: and anyone in the world even more than China except
• 4:44
  Speaker 2: for the Central Bank of Poland. And it's interesting that
• 4:49
  Speaker 2: simultaneously the issuer of the world's dominant dollar stable coin
• 4:55
  Speaker 2: is buying all this gold. Over the last four weeks,
• 4:58
  Speaker 2: they've bought over seven hundred and one thousand ounces, And
• 5:04
  Speaker 2: so I think that, you know, there's no question that
• 5:08
  Speaker 2: they understand what gold is. But the theory is simply this,
• 5:12
  Speaker 2: and in particular when you factor in the Genius Act.
• 5:16
  Speaker 2: The Genius Act goes into effect next January, and the
• 5:20
  Speaker 2: Genius Act says, from that point forward, whenever you move
• 5:23
  Speaker 2: money and dollars, it'll be backed by stable coin. It'll
• 5:27
  Speaker 2: travel on a blockchain network and settle like venmo or zel,
• 5:31
  Speaker 2: and it will be backed by stable cooint predominantly ninety
• 5:34
  Speaker 2: day or less short term US treasuries. So you're creating
• 5:38
  Speaker 2: synthetic demand for the treasury market, which, by the way,
• 5:42
  Speaker 2: you could argue, really really curtails the dual mandate of
• 5:46
  Speaker 2: the Fed because it's going to pin the front end
• 5:48
  Speaker 2: of the curve to the ground. But the interest, as
• 5:52
  Speaker 2: we know, is not transferable. And this is where my
• 5:54
  Speaker 2: theory comes into play, in that if the US government
• 5:58
  Speaker 2: wanted to accumulate goal to ultimately devalue the dollar, to
• 6:04
  Speaker 2: reindustrialize the country and to make paying off our debt
• 6:08
  Speaker 2: much easier. There's been a lot of people who have
• 6:12
  Speaker 2: including Vice President Vance and the previous economic advisor Jared
• 6:15
  Speaker 2: Bernstein to the Biden White House, who cited Triffin's dilemma.
• 6:20
  Speaker 2: We can't afford to be the world reserve currency because
• 6:23
  Speaker 2: the world needs more dollars than we can provide through
• 6:25
  Speaker 2: trade alone. And so those countries continuously have to sell
• 6:29
  Speaker 2: their currency to buy dollars, which creates a massive devaluation
• 6:32
  Speaker 2: between the two currencies, and e naturally, manufacturing flows to
• 6:36
  Speaker 2: where it is cheapest, and this is how you eviscerate
• 6:39
  Speaker 2: and hollow out your manufacturing. The conclusion is that you
• 6:42
  Speaker 2: cannot be the world reserve currency and have a trade surplus.
• 6:46
  Speaker 2: So how does all this play together. When Roosevelt confiscated
• 6:50
  Speaker 2: Golden thirty three, he paid everyone twenty dollars and sixty
• 6:53
  Speaker 2: seven cents. The sixty seven cent premium to the twenty
• 6:56
  Speaker 2: dollars face value of the one ounce coin, which was
• 6:59
  Speaker 2: a lot of money back then sixty seven cents. One
• 7:02
  Speaker 2: of a dozen eggs was a nickel. But then he
• 7:04
  Speaker 2: immediately devalued the dollar by forty percent, making gold thirty
• 7:08
  Speaker 2: five dollars. This is how you devalue the dollar, not
• 7:12
  Speaker 2: against the dollar index, but against the one neutral reserve
• 7:15
  Speaker 2: asse yep. Gold. So let's look at how tether would
• 7:18
  Speaker 2: do this. Anytime money moves, Tether takes the interest that
• 7:22
  Speaker 2: is accumulated from backing the stable coin from January Ford
• 7:27
  Speaker 2: and buys gold with it. Now, this keeps the US
• 7:30
  Speaker 2: government at arm's length. You could argue everything we've done
• 7:32
  Speaker 2: since then, over the last year or so two years,
• 7:36
  Speaker 2: what if there was a deal struck. We're putting Boehindes
• 7:39
  Speaker 2: in here. You guys are in trouble anymore. But here's
• 7:42
  Speaker 2: what you're gonna do. You're gonna take that interest, You're
• 7:44
  Speaker 2: gonna buy gold. You're going to devalue the dollar. That
• 7:46
  Speaker 2: gold will go on your balance sheet, and slowly, over time,
• 7:51
  Speaker 2: you're going to sell that goal to the US Treasury,
• 7:53
  Speaker 2: which will bolster our reserves, our assets versus liabilities. It
• 7:58
  Speaker 2: will ultimately devalue the dollar. It will help us re sure,
• 8:02
  Speaker 2: it'll help us do what we need to do, and
• 8:04
  Speaker 2: you will continue to do this. It will keep us
• 8:07
  Speaker 2: at arm's length. And I find it very interesting that
• 8:11
  Speaker 2: the one company that is so well known in the
• 8:16
  Speaker 2: cryptosphere is buying more gold than anyone in the world
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  Speaker 2: but one central bank. And it just seems to me
• 8:23
  Speaker 2: that there's something more than meets the eye here and
• 8:28
  Speaker 2: and part of you know, you take a step back
• 8:30
  Speaker 2: and say, what a tether just do they opened up
• 8:33
  Speaker 2: the back end of the Justice Department because we saw
• 8:37
  Speaker 2: the Treasury Secretary butsent on stage and say, yeah, you know,
• 8:41
  Speaker 2: with help of Tether, we've identified four wallets that belonged
• 8:43
  Speaker 2: to the IRGC, and we've actually blacklisted their stable coins
• 8:50
  Speaker 2: at the smart contract level. They don't even know what
• 8:52
  Speaker 2: happened yet. So evidently they have KYC know your client, KYT,
• 8:59
  Speaker 2: know your trans AML, anti money laundering and programmability, and
• 9:04
  Speaker 2: have partnered, in my mind, with the Justice Department in
• 9:08
  Speaker 2: that respect. Then you throw bohinds and look at all
• 9:10
  Speaker 2: the gold they're buying, and look at all these things
• 9:13
  Speaker 2: and put them together and to me, it is very
• 9:15
  Speaker 2: easy to say that someone within this administration, and thank
• 9:19
  Speaker 2: God for them, understands that the only way to reshore
• 9:23
  Speaker 2: manufacturing and give our kids and our grandkids and national
• 9:27
  Speaker 2: security a choice, an option, a real chance, is to
• 9:33
  Speaker 2: let gold go higher and quietly use that to an
• 9:37
  Speaker 2: essence default on the reserve status. Now, okay, you have
• 9:40
  Speaker 2: the key is let go of the reserve status accomplish
• 9:43
  Speaker 2: all of these things through higher gold.
• 9:45
  Speaker 1: Okay, So so much there to unpack because to your point,
• 9:49
  Speaker 1: the signals were kind of coming and the other signals
• 9:53
  Speaker 1: I think that kind of landed your idea was what
• 9:56
  Speaker 1: was going on right here, and that is Tether and
• 9:58
  Speaker 1: their Big four audit. So you first had that. So
• 10:01
  Speaker 1: now the reserves exceed liabilities. Notice that second story right there,
• 10:05
  Speaker 1: Andy Tether audit gets a clean KPMG opinion all right
• 10:10
  Speaker 1: on their twenty five financials. And then right underneath that,
• 10:13
  Speaker 1: Tether targets an eleven trillion dollar payroll market with USAT
• 10:18
  Speaker 1: expansion push. Now that is a big deal because and
• 10:22
  Speaker 1: this gets back to the point I'm getting to, and
• 10:24
  Speaker 1: that is Canter Fitzgerald, what's going on with the USAT,
• 10:28
  Speaker 1: which is Tether's stable coin that will eventually be the
• 10:30
  Speaker 1: stable coin of use to your thesis that gold is
• 10:34
  Speaker 1: really being set up here as a takeover for dollars evaluation,
• 10:39
  Speaker 1: all of this seems like it has been enacted in
• 10:41
  Speaker 1: a very short period of time, which kind of goes
• 10:44
  Speaker 1: to your point there of the acceleration of tether going
• 10:48
  Speaker 1: after gold. But why wouldn't other countries figure out that
• 10:52
  Speaker 1: this is what's happening right now?
• 10:54
  Speaker 2: They have?
• 10:55
  Speaker 1: I mean, so you think that was why we saw
• 10:57
  Speaker 1: all these other countries and central banks rushing to try
• 10:59
  Speaker 1: to at gold of the balance.
• 11:01
  Speaker 2: No. I think that's what woke up the United States,
• 11:04
  Speaker 2: that the central banks have been buying gold at a
• 11:06
  Speaker 2: level no one has ever seen before. And I think
• 11:08
  Speaker 2: someone got to this administration and said, if we don't
• 11:11
  Speaker 2: get on board with this, we're in big trouble. Now.
• 11:14
  Speaker 2: One of the things that I've been saying is that
• 11:17
  Speaker 2: look at all the deliveries. Now. I want to explain
• 11:19
  Speaker 2: to you the naysayers about this theory. I say, look
• 11:22
  Speaker 2: at all the gold deliveries. They are off the charts.
• 11:25
  Speaker 2: So normally I've been doing this thirty six years, Paul,
• 11:27
  Speaker 2: and normally futures contracts never stand for delivery less than
• 11:31
  Speaker 2: one percent. A producer who mines gold will forward sell
• 11:35
  Speaker 2: its production to smooth out uncertainty. I will will hedge.
• 11:40
  Speaker 2: If I have two million ounces of gold in my warehouse,
• 11:42
  Speaker 2: I'll sell two million on paper so that my inventory
• 11:46
  Speaker 2: and my exposure are neutral. I'm not going to take delivery.
• 11:49
  Speaker 2: A farmer who plants a field in wheat of wheat
• 11:52
  Speaker 2: in April wants to sell the forward production to the
• 11:55
  Speaker 2: baker who needs flour in September. This is what the
• 11:59
  Speaker 2: concept of the homes is for, to offset risk. And
• 12:03
  Speaker 2: so very few, very less than basically one percent or
• 12:06
  Speaker 2: less of all contracts we've ever stood for delivery, and
• 12:09
  Speaker 2: we keep seeing over the past nineteen twenty months billions
• 12:13
  Speaker 2: and billions and billions and billions and billions and billions delivered.
• 12:16
  Speaker 2: These traders say, no, no, no, no, no, I want the real
• 12:18
  Speaker 2: number bars Paul in my account, not the paper settlement.
• 12:22
  Speaker 2: And they sayers say, but yeah, that's just the traders
• 12:24
  Speaker 2: trading back and forth. It's not all leaving comes. Ah, well,
• 12:28
  Speaker 2: what if that's the other part of this Treasury Department
• 12:31
  Speaker 2: through the Exchange Stabilization Fund? Be said, who understands gold
• 12:35
  Speaker 2: intimately it was as large as holding when he ran
• 12:37
  Speaker 2: a hedge fund. He gets it. He says to the
• 12:40
  Speaker 2: to the banks, Listen, you're gonna start standing for delivery
• 12:44
  Speaker 2: on behalf of the US government, and we're not going
• 12:46
  Speaker 2: to offload it right away because that will wake everyone up.
• 12:49
  Speaker 2: Me meaning look what they're doing. Instead, you just leave
• 12:51
  Speaker 2: it there for us. Justice of the Treasury Department doesn't
• 12:54
  Speaker 2: care if it's sitting in your account on the COMEX
• 12:57
  Speaker 2: will slowly take it from you. You look at the deliveries.
• 13:00
  Speaker 2: It's four feet of snow and Death Valley in July.
• 13:03
  Speaker 2: It is so far unusual, and I don't care that
• 13:07
  Speaker 2: not all of it is leaving, some of it is
• 13:09
  Speaker 2: staying a good portion of it is staying on Comack.
• 13:11
  Speaker 2: So what is different is the actual movement of the
• 13:15
  Speaker 2: numbered bars and the physical delivery. You can call it
• 13:19
  Speaker 2: whatever you want, but it stinks to me. This is
• 13:22
  Speaker 2: so far outside of what has been normal forever that
• 13:25
  Speaker 2: there are some very very very big money that for
• 13:30
  Speaker 2: twenty straight months is standing for delivery alongside the other
• 13:33
  Speaker 2: central banks, alongside companies like Tether.
• 13:37
  Speaker 1: All right, so to your point, you have best making
• 13:41
  Speaker 1: the statement right here, and this also kind of paints
• 13:43
  Speaker 1: a bigger picture because remember Canter Fitzgerald holding one hundred
• 13:47
  Speaker 1: and I think thirty billion in treasuries. Additionally, five percent
• 13:52
  Speaker 1: of Tether they own. Canter Fitzgerald, You've got Howard Lutnik,
• 13:55
  Speaker 1: who is the Commerce Secretary, tied hip and hip to
• 13:59
  Speaker 1: Trumps administration and also to Scott Bessen. You've got Secretary
• 14:03
  Speaker 1: bessont right here saying that the Treasury is moving quickly
• 14:07
  Speaker 1: to implement the Genius Act and beginning January eighteenth, to
• 14:10
  Speaker 1: your point, this is when it all comes together. So
• 14:13
  Speaker 1: we're only a few months away from that happening and
• 14:16
  Speaker 1: that will be the law of the land. You've got
• 14:19
  Speaker 1: Tether out there just acquiring and putting a lot of pressure,
• 14:23
  Speaker 1: and then boom, you've got the UKFCA now preparing relatory
• 14:26
  Speaker 1: framework for tokenized gold, trying to protect London's seventy percent share.
• 14:31
  Speaker 1: Here's my question, Andy, if we're seeing tokenized gold. You
• 14:35
  Speaker 1: saw the numbers going off the charts there on Paxos,
• 14:37
  Speaker 1: which is somebody's buying digital assets in gold, and it's
• 14:41
  Speaker 1: just begun. If that is starting to shift into the
• 14:46
  Speaker 1: regular digital asset and maybe younger trader thinking gold is
• 14:50
  Speaker 1: an asset I can buy and move and hold and
• 14:53
  Speaker 1: do other things with. Could they at some points put
• 14:56
  Speaker 1: some pressure on London in terms of fanster supplier.
• 15:01
  Speaker 2: One thousand percent. But even before that happens, Paul, I
• 15:04
  Speaker 2: think the pressure is already on London. What we have
• 15:08
  Speaker 2: seen over the past few months is opening up, in
• 15:11
  Speaker 2: particular three different exchanges or programs. Within three exchanges. Number one,
• 15:17
  Speaker 2: you have Dubai, which has a same day settlement contract now,
• 15:20
  Speaker 2: but it's in dollars. Excuse me, same day settlement instead
• 15:24
  Speaker 2: of futures. You have Singapore same day settlement in dollars
• 15:29
  Speaker 2: instead of futures. And now you have Hong Kong same
• 15:33
  Speaker 2: day settlement. Ah. But in Yuwan. So what China is
• 15:38
  Speaker 2: framing as internationalizing the yuan is actually trading amongst on
• 15:46
  Speaker 2: top of rails like the SIPs, the Cross Inner Bank
• 15:49
  Speaker 2: payment system and the Umbridge, which are both operational now
• 15:53
  Speaker 2: free from the intervention of the swift trading across those
• 15:57
  Speaker 2: rails in local currencies, settling imbalances and go. So China
• 16:01
  Speaker 2: buys oil from the United Arab Emirates, pays for it
• 16:05
  Speaker 2: in Yuwan, and Bang they're able to convert it into
• 16:08
  Speaker 2: gold in Yuwan without going into dollars and take physical possession.
• 16:12
  Speaker 2: And the expansion of all of these vaults throughout the
• 16:15
  Speaker 2: Belt Road initiative. We already have them in Dubai, Mumbai, Shanghai,
• 16:20
  Speaker 2: Hong Kong, Singapore, Saint Petersburg, Moscow. The Bricks are talking
• 16:26
  Speaker 2: about a new vault that they're going to build into Brazil.
• 16:29
  Speaker 2: All of these vaults will connect. It called the vaults
• 16:33
  Speaker 2: are like the arteries. The rails of these payment systems
• 16:35
  Speaker 2: are the veins, and I think gold is being remonetized
• 16:39
  Speaker 2: or reintroduced into the system as the ultimate form of
• 16:44
  Speaker 2: collateral that meets the digital age.
• 16:47
  Speaker 1: Well, you've got some other movements happening right now in
• 16:50
  Speaker 1: the digital Goes side. You've got Paxos, which is now
• 16:53
  Speaker 1: on the Governance Council for robin Hood Chain, which is
• 16:56
  Speaker 1: going to be another DeFi element that is going to
• 16:59
  Speaker 1: connect digital Gold. You had Paxos also joining the Solana
• 17:03
  Speaker 1: developer platform, which we think when you look at silver.
• 17:07
  Speaker 1: We'll talk about that in a minute, because Solana now
• 17:10
  Speaker 1: live as Digital Silver on Solana, this starts to paint
• 17:13
  Speaker 1: things up. And then you had ether Fi Andy. This
• 17:16
  Speaker 1: was a big drop last week. Ether Fi now is
• 17:20
  Speaker 1: essentially allowing cardholder, well anybody that's got an Etherfi to
• 17:24
  Speaker 1: borrow against their digital gold right now inside the app.
• 17:29
  Speaker 1: So this essentially is like a neobank that has the ability,
• 17:32
  Speaker 1: and I'll go to their app right here. You can
• 17:35
  Speaker 1: kind of see it right there, earning on your assets.
• 17:37
  Speaker 1: You see gold and what is coming soon where you'll
• 17:40
  Speaker 1: be earning possibly yield on your gold, borrowing your assets,
• 17:45
  Speaker 1: being able to utilize those including metals, so both gold
• 17:50
  Speaker 1: and silver. This is a very big deal because if
• 17:53
  Speaker 1: this starts to migrate into a lot of younger investors
• 17:57
  Speaker 1: who have not been gold buyers, they have been crypto buyers,
• 18:01
  Speaker 1: and they start to understand what's happening right now, especially
• 18:05
  Speaker 1: in the DeFi space, this could get big quickly. Can
• 18:07
  Speaker 1: gold handle that?
• 18:08
  Speaker 2: Yeah, I mean I don't think it has to compete
• 18:10
  Speaker 2: with the digital asset revolution. I think it can be
• 18:12
  Speaker 2: part of its infrastructure, just have to be more expensive,
• 18:16
  Speaker 2: and I think in particular it will happen. And this
• 18:21
  Speaker 2: is why I've made such an effort to forge relationships
• 18:26
  Speaker 2: in your industry, because I believe we see the world
• 18:29
  Speaker 2: very similarly, and I think it's just that a lot
• 18:31
  Speaker 2: of people have spent not enough time understanding how similar
• 18:35
  Speaker 2: we actually are. And when you look at the World
• 18:38
  Speaker 2: Gold Council in their white paper, they came out and said, look,
• 18:42
  Speaker 2: our idea is to make all of these digital applications
• 18:48
  Speaker 2: more interchangeable. They are explicitly contemplating fractional interests in vaulted
• 18:55
  Speaker 2: gold and how gold, like to your point, can become
• 18:57
  Speaker 2: collateral instead of just sitting in a vault. Exactly properly
• 19:02
  Speaker 2: structured digital gold ownership. I think makes vaulted physical gold very,
• 19:08
  Speaker 2: very attractive, even to younger people. Easier to pledge is
• 19:11
  Speaker 2: collateral without having to sell the metal, as that says,
• 19:14
  Speaker 2: and they identify collateral use as one of its biggest opportunities.
• 19:19
  Speaker 2: So yeah, I think that it will attract younger folks.
• 19:23
  Speaker 2: But to me, the most important thing, and the more
• 19:26
  Speaker 2: they begin to understand counterparty risk it and these kinds
• 19:31
  Speaker 2: of things, is that the argument it's heavy, it's difficult
• 19:34
  Speaker 2: to divide, it's expensive to move, it's cumbers sittle, all
• 19:37
  Speaker 2: that stuff. But I still think you have to start
• 19:40
  Speaker 2: with one thing, and that is who owns it? How
• 19:43
  Speaker 2: do I get it? How do I get the redemption?
• 19:46
  Speaker 2: Can I collateralize it and work backwards? And that's exactly
• 19:50
  Speaker 2: what the World Gold Console stated vision truly is. So yes,
• 19:54
  Speaker 2: it's going to become fully fungible, and I think that's
• 19:58
  Speaker 2: you know, excess movable, usable, all that stuff across financial systems.
• 20:03
  Speaker 2: I think that is where we're going. And I think
• 20:05
  Speaker 2: young people are a whole hell of a lot smarter
• 20:07
  Speaker 2: than they're given credit for. I think they'll once they
• 20:11
  Speaker 2: dig into this, they'll start it'll start to resonate.
• 20:13
  Speaker 1: Well, you have PAXG right now paying nine point three
• 20:18
  Speaker 1: percent yield on gold. And the cool thing is is
• 20:22
  Speaker 1: that if we do see the well not if we're
• 20:25
  Speaker 1: already seeing the use case of being able to lend
• 20:27
  Speaker 1: against borrow against it, or put your asset to work
• 20:30
  Speaker 1: in a potential, let's say, even a bear market down
• 20:33
  Speaker 1: the road for gold, this would give traditional gold holders
• 20:36
  Speaker 1: a way to earn money in a bear market without
• 20:39
  Speaker 1: ever selling the asset. So the gold price would continue
• 20:42
  Speaker 1: to hold, maybe flat, but still being able to hold
• 20:46
  Speaker 1: in a bear market and do exactly this in terms
• 20:48
  Speaker 1: of earning yields. So that in itself is going to
• 20:51
  Speaker 1: be huge and it will most likely track in I
• 20:54
  Speaker 1: think a lot of young investors. AVE also has become
• 20:59
  Speaker 1: the leading DeFi venue for tokenized gold. So if you
• 21:03
  Speaker 1: look at this chart right here, just to give you
• 21:05
  Speaker 1: guys an example, that's a AV three. Then you look
• 21:08
  Speaker 1: at unicewap, which I'll talk about here in a second,
• 21:11
  Speaker 1: and then there's unicewap BE four and then AVEV four.
• 21:13
  Speaker 1: So between these two you're talking about seventy percent all
• 21:18
  Speaker 1: of DeFi tokenized gold being held in those two platforms
• 21:22
  Speaker 1: significantly going forward, I want to play a clip for
• 21:25
  Speaker 1: you and then get your response. Let's take a look,
• 21:51
  Speaker 1: all right. So that's basically trading silver on Jupiter, one
• 21:54
  Speaker 1: of the biggest platforms out there in Solana. We've seen
• 21:58
  Speaker 1: it on gold. Now you've got it right here with
• 22:02
  Speaker 1: Dominion silver out there within Jupiter. This starts to move
• 22:05
  Speaker 1: things pretty aggressively andy between gold and silver becoming which
• 22:09
  Speaker 1: asset do you own? And this could get kind of
• 22:13
  Speaker 1: crazy in a very fast way. TOKENI silver on Salana now,
• 22:18
  Speaker 1: of course, through Dominion absolutely exploded the last few days.
• 22:22
  Speaker 1: So you have silver now vying for the attention of
• 22:27
  Speaker 1: what's happening out there. Both token I is gold and
• 22:31
  Speaker 1: tokenis silver being able to be used in collateral. We'll
• 22:35
  Speaker 1: talk about that in a second. But between gold and silver,
• 22:39
  Speaker 1: which do you think do you think the younger and
• 22:42
  Speaker 1: more digital audience of crypto would go silver or do
• 22:44
  Speaker 1: you think they would continue to buy both or try
• 22:47
  Speaker 1: to crey to land on one place.
• 22:49
  Speaker 2: Well, I think just the economics of it point to silver.
• 22:53
  Speaker 2: I think also the mathematics of it, and there's a
• 22:57
  Speaker 2: lot to be said for the story behind. So it's disappearing,
• 23:02
  Speaker 2: it's depleted in nature, it's six years of a structural deficit.
• 23:10
  Speaker 2: It's needed massively in military applications that aren't even counted
• 23:13
  Speaker 2: in the supplied demand numbers, and if it weren't for
• 23:18
  Speaker 2: the Western And this is where your earlier question about
• 23:21
  Speaker 2: challenging London, what has distorted the prices is the ability
• 23:26
  Speaker 2: of banks, central banks, commercial banks to naked short with
• 23:30
  Speaker 2: great with not great transparency, it's very opaque, but the
• 23:35
  Speaker 2: amount of shorting where they're trading two hundred times per day,
• 23:39
  Speaker 2: the amount of a deliverable silver every day on the comex.
• 23:43
  Speaker 2: So if we are able to have transparency with blockchain
• 23:48
  Speaker 2: and have a whole generation of people who understand instead
• 23:53
  Speaker 2: of dismiss, we've been fighting forever and I've always thought
• 23:56
  Speaker 2: that was silly. These two industries have far more in common.
• 24:00
  Speaker 1: Yeah, for sure. Well, and it's getting.
• 24:02
  Speaker 2: I think it's speeding up a massive impact.
• 24:05
  Speaker 1: Yeah, it's speeding up too. I mean this kind of opportunity,
• 24:09
  Speaker 1: especially when you look at just this article right here
• 24:12
  Speaker 1: and that is tokenized gold and silver now as productive collateral.
• 24:16
  Speaker 1: You'd be able to use this with Purpse. This is onto.
• 24:19
  Speaker 1: This is insane to me because it completely shifts the
• 24:22
  Speaker 1: thesis of owning a medal. You can put it to work.
• 24:26
  Speaker 1: Maybe you can put it to work. You can go
• 24:28
  Speaker 1: earn you know, yields on this thing and continue to
• 24:31
  Speaker 1: hold it, which is I mean, this is better than
• 24:33
  Speaker 1: money because you can't do that with the US dollar
• 24:36
  Speaker 1: right now. I can't go out there and look at
• 24:38
  Speaker 1: earning yields at this level as well as putting it
• 24:41
  Speaker 1: into productive collateral for something like Purpse out there. So
• 24:45
  Speaker 1: this is a huge shift. Andy, I think we are
• 24:48
  Speaker 1: onto something in a very big way. I want to
• 24:50
  Speaker 1: play a clip from Hayden Adams they kind of talks
• 24:53
  Speaker 1: about this, and then I want to get your O
• 24:55
  Speaker 1: Pennon and take a look.
• 24:56
  Speaker 3: You can imagine, like you know that the best base
• 24:58
  Speaker 3: pair for some securities markets might be a commodities market
• 25:01
  Speaker 3: or a commodities market against a basket of commodities. ETHOSTC
• 25:03
  Speaker 3: has been the biggest market on Union swop and the
• 25:05
  Speaker 3: reason for that is because everything else flows through it
• 25:09
  Speaker 3: as a bridge. And so what you can imagine about
• 25:11
  Speaker 3: the efficiency of these systems is you have these like
• 25:13
  Speaker 3: correlated hubs. Like you have like an asset that has
• 25:15
  Speaker 3: like a correlated bunch of correlated pairs against it, and
• 25:18
  Speaker 3: then that asset has a bridge pair against like dollars
• 25:20
  Speaker 3: or you know, right right, like imagine you have like
• 25:22
  Speaker 3: some sort of oil basket to oil stocks and or commodity.
• 25:25
  Speaker 3: And the problem with commodity as well, to like dollar pair,
• 25:28
  Speaker 3: like the dollar to to like basket pair becomes like
• 25:31
  Speaker 3: really high traffic, which generates a lot of natural demand,
• 25:34
  Speaker 3: which basically brings in sophisticated professional market making firms, which
• 25:38
  Speaker 3: is already what's happening on ETHOSDC. And then you have
• 25:41
  Speaker 3: these correlated pairs have like more besepoke market makers that
• 25:44
  Speaker 3: want to be long both assets in the position they
• 25:47
  Speaker 3: want to be out along the basket and the underlying
• 25:49
  Speaker 3: so their opportunity costs becomes way lower because they don't
• 25:52
  Speaker 3: have to hedge their inter enjoy risk because they want
• 25:54
  Speaker 3: their inventory risk and they just have to have this
• 25:56
  Speaker 3: much lower divergence delta, which is also a lower than
• 25:58
  Speaker 3: it would be. And so that's kind of like a
• 26:01
  Speaker 3: model that is how I'm a visioning it. I got
• 26:05
  Speaker 3: most of that, but maybe I lost some of it.
• 26:06
  Speaker 1: There's a lot in there. What's the thirty second, like
• 26:09
  Speaker 1: why does this matter for me?
• 26:10
  Speaker 2: What's what's the actual impact.
• 26:12
  Speaker 3: And users buying things getting better prices On the demand side,
• 26:15
  Speaker 3: it's actually the yield that is earned from market making
• 26:18
  Speaker 3: flows to more people.
• 26:19
  Speaker 2: So like right now, all the all the like.
• 26:21
  Speaker 3: The yield of market making flows to a few top
• 26:24
  Speaker 3: market making firms. You can have assets that are in
• 26:27
  Speaker 3: passively sitting in unicop liquidity pools also earning yield and
• 26:30
  Speaker 3: a lending protocol. Pretty cool design, pretty useful. It really
• 26:33
  Speaker 3: lets you like reduce the opportunity cost of market making
• 26:36
  Speaker 3: because you can also be earning your yield that way
• 26:38
  Speaker 3: that tradify systems work. It doesn't even like it just
• 26:41
  Speaker 3: doesn't even like connect all.
• 26:42
  Speaker 1: Right, So let me break that down for you guys.
• 26:44
  Speaker 1: Because what Hayden was talking about there is the threshold
• 26:48
  Speaker 1: for market making is going to be lower, meaning more
• 26:51
  Speaker 1: market makers. So andy for a guy like you versus
• 26:55
  Speaker 1: all the market makers out there in gold that there
• 26:58
  Speaker 1: are this essentially, this new evolution of digitized gold, especially
• 27:03
  Speaker 1: at the pace in which we're seeing this for physical
• 27:06
  Speaker 1: gold being acquired, this could be a boom for companies
• 27:09
  Speaker 1: like yourself, just because you're going to draw level with
• 27:11
  Speaker 1: a lot of these big guys overnight. It feels like,
• 27:15
  Speaker 1: especially with this capability that Hayden's talking about, what do
• 27:18
  Speaker 1: you think about that?
• 27:19
  Speaker 2: One hundred and I think that in essence, you know,
• 27:25
  Speaker 2: I mean, look, I think you could simply say that
• 27:30
  Speaker 2: gold solve physical scarcity thousands of years ago. And the
• 27:36
  Speaker 2: question that I ponder quite a bit, which is kind
• 27:39
  Speaker 2: of what you're getting, is what happens when this physical
• 27:42
  Speaker 2: scarcity gets digital rails? And I think it's coming, and
• 27:46
  Speaker 2: I think those who roll with the changes will benefit.
• 27:50
  Speaker 2: Those who fight this will get rolled by those changes exactly.
• 27:53
  Speaker 2: And there's no question that digitized direct ownership of physical
• 27:58
  Speaker 2: gold is here. And you know when that when that
• 28:03
  Speaker 2: record represents enforceable ownership in identifiable or proper properly allocated
• 28:12
  Speaker 2: vaulted metal. It is a game changer for this industry.
• 28:15
  Speaker 2: And now you not only are speaking to the younger
• 28:18
  Speaker 2: demographics and the and the folks who understand digital assets,
• 28:22
  Speaker 2: but you're also going right away, straight away into the
• 28:28
  Speaker 2: into the institutional buyer, because right now they're pretty much
• 28:33
  Speaker 2: relegated to buying ETFs where you're paying JP Morgan and
• 28:36
  Speaker 2: Blackrock a fifty basis point management fee to hold a
• 28:40
  Speaker 2: poor representation of the real thing that you can't even
• 28:43
  Speaker 2: take possession of. You can't pledge as collateral, you can't
• 28:47
  Speaker 2: you can't do any of these things that we're talking
• 28:50
  Speaker 2: about at a much greater cost, whereas this will provide
• 28:54
  Speaker 2: far less, far greater access, far greater liquidity, the ability
• 28:58
  Speaker 2: to to who use it as collateral, the ability to
• 29:02
  Speaker 2: move at cross border, the ability to do all of
• 29:04
  Speaker 2: these things with far less friction, far less costs. And
• 29:08
  Speaker 2: I think what it really does, I think it destroys
• 29:11
  Speaker 2: the ETF industry. I think DSLV all of these ETFs
• 29:16
  Speaker 2: are in very big trouble when something like this becomes
• 29:19
  Speaker 2: a little bit more common.
• 29:21
  Speaker 1: One thing I want to point to Andy that kind
• 29:23
  Speaker 1: of brings this home a little bit before we get
• 29:25
  Speaker 1: into our lightning round, is if you look at some
• 29:28
  Speaker 1: of these alternative assets that have moved so violently in
• 29:32
  Speaker 1: a very short period of time. One is CXMT. You
• 29:35
  Speaker 1: guys remember this because we have been talking about this.
• 29:38
  Speaker 1: This is China's chip company, and just in the last
• 29:41
  Speaker 1: few days we're talking about a twenty two percent move.
• 29:44
  Speaker 1: You can kind of see just in the last few
• 29:46
  Speaker 1: hours the super spike. We talked about this last Friday.
• 29:50
  Speaker 1: You guys remember the video right there we said China
• 29:54
  Speaker 1: liquidity pump is coming and it's draining crypto. We are
• 29:58
  Speaker 1: also talking about tether in general and what's happening in
• 30:00
  Speaker 1: this because I think all this stuff is connected to
• 30:03
  Speaker 1: these alternative assets. And then even Mark Cuban came out
• 30:06
  Speaker 1: and said, hey, you know, I don't necessarily agree with this,
• 30:09
  Speaker 1: but it was interesting that he said, chips is a
• 30:11
  Speaker 1: new asset class will be the new crypto. The point
• 30:14
  Speaker 1: being is that these alternative assets are starting to trade
• 30:17
  Speaker 1: a lot like crypto. We've already seen it in the
• 30:19
  Speaker 1: semiconductor space, the AI space. Now I think we might
• 30:23
  Speaker 1: see it in the in the metal space. So get ready, guys, Andy,
• 30:26
  Speaker 1: let's go into a quick lightning round with you. I
• 30:30
  Speaker 1: want to kind of get your opinion on a few things,
• 30:32
  Speaker 1: and we'll start off with my first question, which has
• 30:35
  Speaker 1: Tether has it officially abandoned bitcoin and favor of gold.
• 30:39
  Speaker 2: I'd say unofficially so probably false.
• 30:42
  Speaker 1: But unofficially okay, I think I think they I think
• 30:46
  Speaker 1: they have. I think they've abandoned bitcoin. I think they
• 30:49
  Speaker 1: are in on gold genius acts. Stable coin yial ben
• 30:54
  Speaker 1: was a handout to gold. What do you think? Yeah,
• 30:58
  Speaker 1: I think we were going to be on the same
• 30:59
  Speaker 1: page and a lot of these which here we go, which
• 31:02
  Speaker 1: state shady government push stable coin wins? Do you think
• 31:06
  Speaker 1: it was Lutnix through us A T or USD one
• 31:10
  Speaker 1: with Trump?
• 31:11
  Speaker 2: I think that's easy. I think it's uh, it's Lutinix lutnik.
• 31:14
  Speaker 1: Okay, I'm with you there. The LBMA comex is to
• 31:19
  Speaker 1: gold as PSA vault is to the TCG market. Both
• 31:23
  Speaker 1: will be disrupted by faster moving defied narratives. This is
• 31:27
  Speaker 1: what we're talking about, Andy being able to use gold
• 31:30
  Speaker 1: in a whole new way.
• 31:32
  Speaker 2: Absolutely they will one.
• 31:33
  Speaker 1: Per okay, disruption inbound. Will Chinese small businesses choose permissionless
• 31:39
  Speaker 1: DeFi gold or the Shanghai Gold Exchange state controlled.
• 31:43
  Speaker 2: That's an interesting one because the Shanghai Gold Exchange is
• 31:47
  Speaker 2: really trying to expand through state sponsored old accumulation programs.
• 31:54
  Speaker 2: I would say state controlled for the Chinese.
• 31:56
  Speaker 1: Okay, there you go. I think they would want to
• 31:59
  Speaker 1: use DeFi, but I believe the problem there may be
• 32:03
  Speaker 1: a black market for DeFi. So I'm kind of in
• 32:07
  Speaker 1: the middle there.
• 32:08
  Speaker 2: I was kind of in the middle with the first
• 32:09
  Speaker 2: question too. There you can call it, call it even
• 32:12
  Speaker 2: there you go.
• 32:13
  Speaker 1: Tokenis silver is moving the silver price more than token
• 32:17
  Speaker 1: i's gold moved the gold price. And just to show you, guys,
• 32:20
  Speaker 1: the chart that is the silver chart right there. This
• 32:25
  Speaker 1: is the movement. And I want to show you something.
• 32:27
  Speaker 1: If you zoom out on this, Andy, look at that
• 32:29
  Speaker 1: trend line from the high on silver, wouldn't you say
• 32:33
  Speaker 1: this might be a breakout.
• 32:34
  Speaker 2: Yes, it's what that's called as a falling wedge pattern.
• 32:37
  Speaker 2: And when it's very bullish, when it breaks through that
• 32:40
  Speaker 2: trend line, say, I will say that if indeed you
• 32:44
  Speaker 2: get some some real traction behind these silver programs, there's
• 32:49
  Speaker 2: no question that it will absolutely accelerate silver's rise, probably
• 32:54
  Speaker 2: faster than goals.
• 32:55
  Speaker 1: All right, right, there was it sixty four It is
• 32:57
  Speaker 1: now nipping sixty five sixty six dollars.
• 33:00
  Speaker 2: Very bullish technical pattern right there.
• 33:02
  Speaker 1: I like it, all right, So we're gonna say true
• 33:06
  Speaker 1: on this one right now, and then let's go over
• 33:08
  Speaker 1: here to this one. Gold Boomer CEOs who aren't actively
• 33:12
  Speaker 1: participating with DeFi platforms are now completely lost. And I'm
• 33:16
  Speaker 1: talking about the guys that you compete with, Andy.
• 33:18
  Speaker 2: Yes, there's no question that they are. And when you
• 33:21
  Speaker 2: see the biggest names in the industry like gold dot com,
• 33:24
  Speaker 2: which is amark who which is the largest largest wholesaler
• 33:28
  Speaker 2: in North America, if not even bigger, and that partner
• 33:32
  Speaker 2: up to a degree with tether, Yeah, there is no
• 33:34
  Speaker 2: question that if you're not with it, you're falling behind.
• 33:37
  Speaker 1: Hyper Liquid proves comex has pricing only pricing power Monday
• 33:43
  Speaker 1: through Friday, because you're going to be able to do
• 33:45
  Speaker 1: this pretty much all the time soon.
• 33:48
  Speaker 2: Well they yes, that is true. But if I'm not
• 33:51
  Speaker 2: mistake and I don't want to misspeak, but I believe
• 33:54
  Speaker 2: Comax just did a twenty four to seven one ounce
• 33:57
  Speaker 2: contract trying.
• 33:58
  Speaker 1: To try to be with this.
• 34:01
  Speaker 2: Yes, but I agree. I mean, then that is, that
• 34:03
  Speaker 2: is where things fall short because for those who don't know,
• 34:07
  Speaker 2: from Sunday at six pm Eastern, Friday at six pm
• 34:10
  Speaker 2: Eastern to Sunday at six pm Eastern, the market is
• 34:13
  Speaker 2: asleep and there's a lot of movement if you can
• 34:16
  Speaker 2: can do something in between there. Yes, the whole thing
• 34:19
  Speaker 2: is pricing is moving away from the western S.
• 34:21
  Speaker 1: Yeah, which is boomers are forced to check prices on DEXes.
• 34:24
  Speaker 1: Which is what you're saying. All right, which asset will
• 34:27
  Speaker 1: end up paying more yields? And DeFi do you think
• 34:29
  Speaker 1: now that we have silver, what do you think is
• 34:31
  Speaker 1: going to happen here? Do you think gold will continue
• 34:33
  Speaker 1: to I mean, because there's some good some good yields
• 34:36
  Speaker 1: out there in defile on gold right now? But do
• 34:37
  Speaker 1: you think silver takes over?
• 34:39
  Speaker 2: I think gold has to just based on the mathematics
• 34:41
  Speaker 2: of it, because you'd have to have a very large
• 34:44
  Speaker 2: silver position to generate a meaningful yield, and I don't
• 34:47
  Speaker 2: think there's enough of it to challenge gold's role in
• 34:52
  Speaker 2: that space.
• 34:53
  Speaker 1: Yeah, all right, here we go, last question, which asset
• 34:57
  Speaker 1: is going to hit all time high?
• 34:58
  Speaker 2: First?
• 34:59
  Speaker 1: Silver? Go We'll go back to the chart right there.
• 35:03
  Speaker 1: Silver as you guys know, all time high not hit
• 35:06
  Speaker 1: or hit not too long ago. So what do you think?
• 35:09
  Speaker 1: Do you think it's going to be gold or silver?
• 35:12
  Speaker 2: Normally and you can see a rising wedge pattern there
• 35:15
  Speaker 2: and a breakout there. Normally gold goes first, silver goes further.
• 35:20
  Speaker 2: So if I were to guess gold sets the all
• 35:23
  Speaker 2: time high first and silver leaves, it comes at us
• 35:26
  Speaker 2: before it's all said and done.
• 35:27
  Speaker 1: Okay, all right, well there you go.
• 35:29
  Speaker 2: You a percentage game, yeah for sure.
• 35:31
  Speaker 1: Well you know that's what people look at. All right, Andy,
• 35:34
  Speaker 1: we're gonna get you back on the show because I
• 35:35
  Speaker 1: have a feeling we're gonna be talking about this asset
• 35:38
  Speaker 1: a lot more in the digital side, and where this
• 35:42
  Speaker 1: is heading is going to be very intriguing. So you
• 35:46
  Speaker 1: guys know where to find Andy. By the way, if
• 35:48
  Speaker 1: you're not following Andy's YouTube channel, is it Miles Franklin Media.
• 35:54
  Speaker 2: Yes, sir, it is okay, And it's always a real
• 35:56
  Speaker 2: honor to be here with you, Paul. I admire you
• 35:59
  Speaker 2: tremendously as someone who sees the these two these two
• 36:03
  Speaker 2: industries have a lot of a lot in common, and
• 36:06
  Speaker 2: I really appreciate the opportunity to come on with you
• 36:08
  Speaker 2: your class act.
• 36:09
  Speaker 1: Yeah, man, thank you very much. Listen, it's it's kind
• 36:11
  Speaker 1: of a bullseye right now because I think the industry
• 36:14
  Speaker 1: is now starting to wake up.
• 36:15
  Speaker 2: Yeah, but you were doing it long before it was
• 36:17
  Speaker 2: a book. I know.
• 36:18
  Speaker 1: I get that.
• 36:18
  Speaker 2: I applaud your open mindedness. And hey, the difference between
• 36:22
  Speaker 2: intelligent and smart. I know a lot of intelligent people
• 36:25
  Speaker 2: that are stupid as a mud wall, And I know
• 36:27
  Speaker 2: a lot of people who don't have maybe the pedigree
• 36:30
  Speaker 2: of education, that are very smart because they open their mind,
• 36:33
  Speaker 2: they can say they were wrong, they can listen, they
• 36:35
  Speaker 2: can learn and adad to me that smart you're very
• 36:38
  Speaker 2: way to do it and intelligent.
• 36:40
  Speaker 1: I love it all right, Andy, it was good seeing you.
• 36:42
  Speaker 1: We will have you back on the show soon. So
• 36:44
  Speaker 1: thanks for coming in.
• 36:45
  Speaker 2: You've got it, brother, stay well. Thanks again.
• 36:54
  Speaker 1: If you like this video, like and subscribe, drop a
• 36:57
  Speaker 1: comment down below, and also join our free private member group.
• 37:00
  Speaker 1: The link is in the description.