Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🚨Rob Kientz: The FACTS are SHOCKING 🚨 (Silver & Gold)

Transcript

🚨Rob Kientz: The FACTS are SHOCKING 🚨 (Silver & Gold) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

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Every Fiat currency in existence, I don't care what
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country you are, is going to have to hyperinflate at the same
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time or it doesn't get paid back.
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And either way you go into bankruptcy, pick your poison.
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You're either going to bankruptcy because all your
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assets are really junk, or you're going to bankruptcy
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because you have to hyperinflate the currency to pay them back
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and the currency's worth nothing that you get in return.
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You're still bankrupt. And if you don't have gold and
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silver, you're I'm, I'm sorry, but you're screwed.
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I don't know what you're going to do.
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Silver and gold investors are growing concerned.
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We have a government that's spending out of control, debt
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and deficits. Today we have a special guest,
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Rob Keenz from Gold Silver Pros. We're going to start out talking
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about legal tender legislation, a movement that's going across
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the country, state by state, to allow state citizens to reclaim
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their constitutional rights to use silver and gold as real
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money. But we're going to talk about
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the overall gold silver market, that recent new record, all time
1:06
high in gold, and maybe what we see for next year.
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Rob, welcome to Ron's Basement. Ron, thanks for having me on.
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I definitely appreciate being on your show.
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Love the fact that I get to go on other people's shows.
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I always love doing that. And to be introduced to your
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audience really is an honor. And thank you so much.
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Well, thanks, Rob. It's well, like I said, we're
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fortunate to have you here as well.
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And I think you and I would agree there's even one person
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who's more important than us, that's the viewer who's joining
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us right now. And they're probably growing
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concerned about what they see happening in the economy with
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the government. How would this legal tender
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legislation help the average gold and silver stacker?
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Do you have any thoughts on that?
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Yeah. So the the reason behind the
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legal tender laws are, if you go back in time in our history when
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the United States was first sort of founded and we were getting
2:00
our feet as a country, we had just, you know, had the
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Declaration, Independence, we had had the Revolutionary War,
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then the Articles of Confederation, every country
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needs its own currency. And So what we used was what a
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lot of other people had used at at the time, which was gold.
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And at one point we went by metallic, and we had two medals.
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We had both gold and silver, and gold had been money for a long,
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long time. In fact, it's enshrined in the
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Constitution as money. In fact, there's no Supreme
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Court case that says gold and silver is not money right now,
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even though we all use something called a Federal Reserve Note or
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an FRN. It's a green piece of paper.
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There's nothing that says a gold, and silver is not
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explicitly money. There is, however, the monopoly
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on what people see as money in this country put out by the
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Federal Reserve, which came about as a result of that
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legislation in 1913 that gave us a central bank.
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And so we're using this paper money now.
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At first, when that happened, it was backed by gold.
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And what was the government was supposed to do is they're
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supposed to say, OK, we're just making easier for you guys to
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spend without having to carry around gold and silver in your
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pockets. And So what we're going to do is
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we're going to have silver certificates and gold
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certificates and you'll be able to trade your money in for gold
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and silver. And eventually, as time went on,
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what really had happened was that the government and and the
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Fed really because the government was running deficits.
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I mean, you talk about World War 2 and you talk about other
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reasons why they needed to run deficits.
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It wasn't just war bonds. It was spending of currency.
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And eventually they diluted that currency.
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They printed more of it, the physical paper, because it's
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easier to print than it is to mine gold and silver.
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Then they had gold and silver and eventually the people in
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Europe who are main trade partners, Tom said, wait a
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minute, we're seeing a lot of dollars around the world, but
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the US hasn't added to its gold reserves.
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And so they thought, what? What if I take this and I turn
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it into the Federal Reserve and I asked for their gold?
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And they did, to the tune of 2/3 of our gold reserves in the span
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of a few years. And France was first on this.
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France was all over it, but other countries in Europe did as
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well. So 1971, Nixon had to take us
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off the gold standard and we went to a pure Fiat system,
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which most people are alive today.
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They've never known the gold standard or known gold as money,
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even though it's enshrined in our constitution.
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Even though up until 1971, three years before my birth in 74, we
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still had gold effectively as money, it was backing our
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currency. But most people in this day and
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age, especially younger viewers and millennials, they have no
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clue. And people of my generation, you
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know, we were born at about the time all this happened.
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So we don't know gold as money. So we've had these Fr NS running
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around and we've seen how they've inflated them.
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They've inflated them so much. We have such persistent
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inflation that it's causing people not to be able to have a
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decent standard of living. And if you go back and look at
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times in which we've had gold as money or and or because it's at
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some point in time we had gold and Fr NS or we had the Federal
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Reserve notes backed by gold and by silver with the silver
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certificates or silver in our money.
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You know pre 1964 quarters Dimes half dollars, dollars had silver
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in them and even in three years during the war a lot of people
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don't know this 42 to 45 there was a nickel shortage.
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So we started putting silver in our in our nickels 35% in any
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case. We we had gold and silver in
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money and we had dollars redeemable in gold and silver.
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And I'm getting the really long explanation, sorry, but and so
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it was money. But when that went away we
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inflated it. We just started printing a bunch
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of paper and now we've got what we have.
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Now we have these rolling recessions we and when a
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recession comes it's a world ender, you know 2008 and all I
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heard during Lehman was it's going to end the financial,
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global financial system. Why?
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Because we printed so many dollars inflated so many things
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And then when that system, you know, got so old that it was
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ready to collapse, they had to put it on life support and bail
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out the system with what more debt and more money.
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So now we could came down the road.
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Fast forward to today and we're looking at the system going this
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is unsustainable. The Congressional Budget Office
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has said it's unsustainable. All the commercial banks have
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said it's everybody says it's unsustainable.
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We know that the system is going to fail.
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So what we're trying to do is say, OK, let's go back to having
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gold this money again. And the first question I always
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get asked is, well, if it's in the Constitution, why do you
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have to do this at the state level?
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Well, we got to do it because there is a particular provision
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put into statutory law, not constitution, not the
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Constitution, not the common law, but statutory law, meaning
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the state creates its own laws under the Constitution.
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A lot of those, I think are unconstitutional, but they're
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there anyway. And there's this one law that
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basically says you you can use nothing other than Federal
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Reserve. I'm, I'm summarizing you can use
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nothing other than Federal Reserve notes as money.
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But wait a minute. And the Constitution, it says
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gold and silver's money. And I don't remember a Supreme
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Court case saying you couldn't have gold and silver's money.
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It only said that the Fed could substitute the dollars and the
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Treasury could substitute the dollars.
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So, but in order to protect the citizens of each state, we're
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putting in legislation reaffirming Article One.
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Was it Section 10 Cause One or something like that, which
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basically says gold is money and we're doing that to protect
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people and four states have already done this I believe was
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it Utah was the first. There's a few others.
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We're now working in five states.
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I think Arkansas is 1. Arkansas, I think did it earlier
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this year in. Texas is.
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Texas has legal tender legislation.
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Is that? Legislation, but not the law.
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Now in Texas, there's two things, A couple of things have
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to happen, really three things. One, you have to remove sales
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tax off of gold and silver. Texas has done that.
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I think 20 other states have done that.
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Number two, you have to have a depository.
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Why? Because you need to have a place
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to put all this gold that people can feel safe.
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Not everybody wants to have it in their house.
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And also we're encouraging the states to use gold in their own
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treasuries because it stabilizes portfolios.
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And I'll talk about a little bit more on that later.
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If we have time and 3rd, recognizing gold as money and
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not at face value, not at the 20 or $50 you're going to see on
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the coin, but at market value. So that as gold goes up in
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price, you're retaining your purchasing power.
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And we're doing that and we're doing it in Florida.
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We're 90% of the way they're in Florida.
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And I work with a group, I'm not the executive director here, but
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I work with Citizens for Sound Money on the legislative team,
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which is run by Daniel Diaz, who's Executive Director.
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The group was founded by a couple of members.
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The main one proponent is my friend Jim Forsyth.
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He runs Silverback Precious Metals.
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He has his own mint, former Air Force pilot, former New
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Hampshire State senator in an engineer by trade that also
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started systems for sound money. And that is to make is to
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recognize sound money. It's educational.
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It's a nonprofit. But they also had this idea that
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what if we can pass legislation to make gold money again?
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Would that help solve the problems we're having with with
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dollars in this debt system that we have?
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And so there are five states we're concentrating on right
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now, Florida, Texas. But Texas is one of those unique
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states that meets their legislature, meets every two
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years unless there's an emergency session.
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There's an emergency session going on right now with the
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immigration, but we're not going to talk about the money issue.
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So in 2025, we come back to Texas, but for right now, it's
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Florida, New Hampshire, South Carolina and one other state I
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cannot remember which we're campaigning in.
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Florida is the big dog. The governor's office is in
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favor of this legislation. We have support from both of the
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houses, the state houses, the house and the Senate, and we
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think we have the votes to get it passed.
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And it is a Republican controlled, so most people will
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vote the same there. You get the benefit of the party
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vote. So two bills were created
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Monday, one for gold is legal tender in Florida and one to
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create the state depository. Those two bills are going to go
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to committee first. They'll go to two committees,
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they'll get reviewed any changes, whatever need to be
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made and they'll be put to a vote and 90% chance that we'll
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get this passed in Florida. Now we've had it passed in other
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states, but Florida's a big dog. Texas, Florida, California, New
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York are really the four big states.
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And so if we can get it passed in Florida, then we think that
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South Carolina, New Hampshire will come along.
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New Hampshire is very positive about this, but but each state
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has a different process. Each state requires a different
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lobby effort. We went after Florida first
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because it's a big dog because we've got DeSantis.
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Governor DeSantis has signed that anti CBDC legislation.
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We felt like he would be amenable to looking at
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alternative currency that wasn't a central bank digital currency
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and he stated he doesn't want central bank digital currencies.
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His office is in favor and we had to do the, the, the and in
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Florida the main concern was we had to do it to where we didn't
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create any new taxes so as to be self funding.
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So the system is self funding, There's some fees and things in
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there, but it's going to create state depository.
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It will create, it will create gold as money and in addition
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for those younger ones in the audience, it creates A
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blockchain that you can either do it physically or you can have
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it on the blockchain backed by real gold.
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So you can be on your phone and pay someone and then they settle
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out. You know everything settled up
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at the state depository at that point in time, but it's all
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backed and audited. And I'm a, I'm a former auditor,
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I was an auditor for 12 years. So I made sure that in the bill
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we had provisions that all these transactions would stand for
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seven years in a day, that there would be periodic rotating
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quarterly audits and that information be made to the
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public so that they would have confidence that the gold is
11:47
there. And so this is a fully featured
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bill and we took input for probably six or seven other
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groups. They're doing this in other
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states. And so this bill is what we
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consider an omnibus one. It's written to address all
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potential objections, all potential differences in states
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into basically what we don't want to do is different
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provisions in different states. We want every state to be the
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same so that you can move States and do the same thing if that
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makes sense. And and anyway, it's really
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exciting. I know I've taken a long time to
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answer the question, very long answer.
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But the point is we think we're about to make gold money in
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Florida again and we think a couple other states will follow
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and then hopefully Texas 2025, there's a big effort in 20 in
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Texas. We think Texas may do it.
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We've got a lot of support there in the Lone Star State, so we
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feel as though we're about to make gold money again.
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Why is that important? Because as we shift out of this
12:39
dollar system into the CBDC system, you wanna have a choice,
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You want some sort of physical money.
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Because if you don't have physical money, we have all
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sorts of problems with the central bank digital currencies.
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Yeah, I think, you know, we started out by saying why is
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this important to our viewer? Well, it's important because
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whether we go to a CBDC or we stay with our current dollar,
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people are scared about the future value of the dollar.
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Is that is that a safe assessment?
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Yes, people are really scared about the future value of the
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dollar. The not to get too, too
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technical, but I'm about to do a series on my channel.
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So by the time you guys see this video, I'll probably have this
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series begun. We're talking about the new
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system. Well, what is the new system?
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Well, the IMF, the International Monetary Fund, so one of these
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big international agencies that tells, you know they do research
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and policy papers, but really what they are is their big daddy
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telling people what to do essentially.
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And so is the Bank for International Settlements.
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They're the central bank to all the world's central banks.
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They fund the central banks. They provide policy guidance.
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They basically said we need to move into digital currency and
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you have the Federal Reserve and about now about 80 of the
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world's leading central banks, including the biggest one, the
13:44
Federal Reserve saying, yeah, we need to go the, the the digital
13:48
currency age. And so the Fed's been testing
13:50
there. So it's under a project called
13:52
Fed Now there's other projects and they've been testing
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interoperability, you know, of these digital currencies.
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And so we're going to move from the paper era to the digital
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era. There are a lot of concerns with
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that though. So we know the dollar is
14:03
eventually going to fail. I mean that's everybody knows,
14:08
but they need to have the new system in place.
14:10
So, so the, the green piece of paper you use now are going away
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and this will be really hard for particularly the baby boomer
14:15
generation to understand. This has been their entire
14:18
world. And when we talk about this,
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they look at me and their eyes glaze over and they're like,
14:22
we're not going to have green dollars anymore.
14:24
And I'm like, no, and it won't be the first US currency to
14:27
fail. It'd be like the 6th or 7th.
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Well, actually more. If you consider the old state
14:30
currencies that failed, and if you look at Fiat currencies in
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general, over 1000 of those have failed in history.
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They all fail because they all get printed too much.
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And then people lose confidence, you have hyperinflation, the
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whole thing collapses. At some point that will happen
14:44
to the dollar and they're already, since 2015 have been
14:46
planning the new system. It's based on blockchain, but
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it's not Bitcoin. It's not decentralized.
14:52
It's a centralized and controlled by the state.
14:54
And so the state will control the money.
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And what's particularly nasty about that situation is in these
14:59
papers by the IMF, they're saying, well we need to control
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the money supply and if it's all electronic, we're going to push
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button remove money from your account.
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You know we have too many dollars and too many electronic
15:09
dollars in circulation. I'm going to push a button and
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take 10% out. So they're just going to take
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10% out of your your bank account.
15:15
It's called a bail in Well, bail in laws were written with Dodd
15:17
Frank, so that's law right now. So if they get the digital
15:21
currency, they they can play around with your bank account.
15:24
And is all this unconstitutional?
15:26
In my opinion, yes. Is it?
15:29
Is it better to fight it that way and try to get the law off
15:32
the book, or is it better to create an alternative in making
15:35
gold money again, recognizing what's already on the
15:37
Constitution, the books, the big book?
15:39
You know, the Bible of of laws in the USI say it's better to do
15:42
it that way. Yeah, yeah.
15:45
The you you talked about and I know Daniel Diaz from the
15:48
Citizens for Sound Money refers to it as asset backed digital
15:53
currency, the new, the new acronym ROB ABDC.
15:56
We know CBDC but ABDC now a lot of our viewers and you know
16:02
you've been in the silver and gold sector for years and years,
16:05
they hear anything digital and they immediately immediately
16:09
have this response which is if I don't hold it, I don't own it.
16:14
And I've tried to be a proponent of what's now being referred to
16:19
as these Abdcs and I and I liked what I heard from you.
16:22
I'm actually an old auditor myself as well that if we can
16:26
have a asset backed digital currency that's transparent,
16:32
that's audited, that's regulated for lack of a better term that
16:37
is fully convertible into real metal, that that has to be the
16:44
future for silver and gold. Am I Am I thinking correctly?
16:47
When I when I when I think that way?
16:49
Yeah, gone are the days in which you're going to have all
16:53
physical currency and this is just an an inevitability of
16:57
life. If you look at the proliferation
17:00
of technology already, blockchain is running the
17:04
world's economy. And I'm not talking Bitcoin, I'm
17:07
not talking the coins, I'm talking blockchain as in the
17:10
Ledger piece of it, the accounting piece of what people
17:15
look at when they see Bitcoin. And if you're not Bitcoin,
17:17
people don't worry. There's basically two pieces.
17:19
There's the Ledger which is an accounting system which is
17:22
extremely efficient and and self checking if you will.
17:27
So you don't have to have auditors come in.
17:29
I mean you can have auditors come in but the the blockchain
17:31
itself is a consensus mechanism that says yes we agree, yes I
17:34
agree, yes I agree, OK, everybody agrees move forward.
17:37
So it's self checking as you go. Is the most efficient Ledger
17:41
system ever created under mankind and it's already running
17:45
the banks and there's a version of it running the credit unions.
17:48
And so underneath your bank account sits blockchain
17:51
technology and almost every portfolio, stock account, every
18:00
inventory system, they're all including this technology.
18:02
In fact, I used to work in cybersecurity and we were
18:06
talking about using blockchain to record events on a network.
18:11
Because from a security perspective, if we had a log of
18:14
all events on the network, we could catch the bad guys a lot
18:16
faster. And if somebody tried to do a
18:19
bad transaction, the the network itself would reject it, so it
18:25
would be more resilient to attacks.
18:28
Anyway, Watching technology is wonderful.
18:29
We use a million ways. People who grew up before the
18:35
advent of the Internet and most of their life was in an analogue
18:38
world reject this because they're like, this is the beast
18:41
system referring to the Bible and you know the chip and
18:45
they're going to chip you and all that.
18:47
Yes, but that's only if it's centrally controlled.
18:52
If you have decentralized agreed upon systems with people that
18:55
aren't centrally controlled, you can't really have that system.
18:59
So here, here's the here's the thing.
19:02
The world's economy cannot run on paper money anymore.
19:04
It can't, It can't run on physical gold.
19:06
Now it can as a store of value, but as a medium of exchange.
19:11
The problem with gold is, excuse me, if you want to continue to
19:15
increase your lifestyle, you're going to have to include
19:17
technology. Technology is what include
19:19
increases your lifestyle. If we want nicer houses and
19:23
nicer cars and we want the Internet to get better and we
19:25
want more streaming technology and you want safer planes and
19:30
you want cheaper gas and you want food from around the world.
19:34
You know, most of our food travels 1000 miles before it
19:36
hits our dinner table. A lot of people don't know that
19:38
a lot of our food comes from Brazil, from Mexico, and not
19:41
just from California, and not just from Texas, not just from
19:45
Florida. So if you want to continue to
19:48
have all those wonderful things in life, you need tech.
19:51
And gone are the days in which you can carry around gold coins
19:54
and interact. Now there are enough.
19:56
There is enough gold to do it, You just revalue gold to what it
19:59
should be natively anyway. But that's not the point.
20:02
People aren't going to carry around gold coins anymore, or
20:04
there's also security risk of doing that.
20:06
It's incredibly valuable. 1 ounce of gold is incredibly
20:09
valuable. And when we get rid of this old
20:11
currency system, I think gold is going to go up to ten, $20,000
20:14
an ounce anyway. And now and in real purchasing
20:16
power, not just in. Notes But the ability of stuff
20:19
that you can actually buy 10 to 20,000, at least.
20:22
You don't want to carry that around in your pocket.
20:24
What if somebody mugs you? What?
20:27
How do you give your kids lunch money to go to school?
20:29
Are they going to carry like a 100th ounce of silver?
20:32
We're going to lose it. Technology is here to stay, and
20:36
technology runs our world. And if you put the blockchain in
20:39
a positive system that meets the needs of the people and then all
20:45
you've done is you've created a most a very efficient system.
20:48
And I'll go on, I'll, I'll use one example.
20:51
Let's say you want to wire money and you're going to wire money
20:54
overseas and it's going to cost you 40 bucks and it's going to
20:56
take two weeks And hopefully it gets there because I've done
21:02
international wires before and sometimes they don't get there
21:04
and you have to spend hours on the phone.
21:06
That's old tech and it's very expensive and slow on the
21:12
blockchain. You can do this in a matter of
21:13
seconds. The money gets there.
21:16
The accounting system is self consensus.
21:20
Now, it doesn't mean it's perfect, but it's a great system
21:23
for transmitting money. It's more efficient and all an
21:26
asset backed digital currency is, is a privately created, not
21:30
central, not central bank, not government, not treasury, A
21:33
privately created system. And when you take gold and
21:36
silver, you store it, you audit, you do all that stuff and then
21:39
you put a blockchain on top of it.
21:40
And the blockchain is just a record of transactions.
21:42
And as long as you're auditing that and you make the blockchain
21:45
accessible to people, they can check it, then you're OK And all
21:50
it is, the blockchain is just a Ledger system.
21:51
It's just a more efficient 1. Instead of having accountants
21:53
writing it down, you know, like who is it Did it for Ebenezer
21:58
Scrooge, It was his accountant. Yeah, now the computers do it.
22:03
So asset backed digital currencies is the private
22:06
version of a more efficient currency system.
22:09
Central bank digital currencies to me is the BEAST system.
22:13
It's the bad one. It's the one in which somebody
22:16
else could control transactions. And you know, this dystopian
22:19
sort of, you know, society that we see in Movies Now, which I
22:24
believe is a manifestation of people looking at control
22:27
systems and saying and that's our popular culture, we're
22:29
looking at it saying, oh, things are getting a little, you know,
22:32
hairy here, So asset bacterial currencies like Kinesis, like
22:35
load. You know, Kinesis is a company
22:37
out of Australia that's done this.
22:39
And Indonesia, the fifth most populous country in the world
22:41
with 270 million people has just adopted Kinesis system.
22:44
It's a private system, the government's adopted, but it's
22:47
run privately through the postal system, through hundreds of
22:51
islands. And by the way, Indonesia has a
22:53
bunch of different cultures all melded together in one country,
22:56
different languages, different cultures.
22:57
But they it took like three years, but they got this system
23:01
built and you can make payments at the post office using
23:04
Kinesis. And when that goes off, well
23:05
they're going to expand it. And there's a country in Central
23:10
America that will be announced probably next year that's also
23:13
adopting Kinesis. So entire countries are adopting
23:17
these asset backed digital currency systems.
23:19
They're more efficient, they're privately run, the government's
23:23
don't control them and they offer more efficient means of
23:27
transactions. And when you talk about
23:29
international trade, the old system breaks.
23:32
The old system cannot handle the trade that we need to get
23:36
product from here to there. So we're going to need some more
23:39
contracts, electronic contracts. We're going to need asset backed
23:42
digital currencies or else we're never going to be able to grow.
23:45
Our lifestyle will never grow. Things will get more expensive.
23:47
We're at that point in which the old system is breaking.
23:49
So we have to have a solution. Asset backed digital currencies
23:52
are a way to transmit value across that system in a trusted
23:56
way that people can agree on that's not centrally controlled.
23:59
And so I'm very much in favor of these.
24:02
And they're all backed by what, Gold and silver.
24:05
You're not backing them by tether or Bitcoin or tea leaves
24:09
or seashells or tulips. We're backing it by gold and
24:12
silver. So.
24:14
Or paper Or confidence or or or. Or just confidence, right.
24:19
Which is what the dollar's based on now.
24:21
Confidence in the In the in the United States government.
24:25
If you're looking to buy gold, silver or platinum, do yourself
24:29
a favor and check out Pimbex, the online precious metals
24:32
bullion dealer and sponsor of Ron's Basement.
24:36
I was a happy customer before they offered to support the
24:40
channel. You'll find they have the best
24:42
prices, quality, and service. I think Pimbex is best, and you
24:47
will too. And be sure to tell him that
24:49
you're from Ron's basement. I personally don't ever want to
24:52
be on a currency that's backed only by the full faith and
24:54
credit of a government, because the governments have always
24:57
mismanaged their currency systems.
24:59
And I've always, you know, it's just inevitable.
25:01
Government wants to grow. In order to grow, it's got a,
25:04
you know, it's got to debase the currency.
25:06
It happened to Rome, you know, happened to Britain, it happened
25:09
here. So it's got to be back with
25:11
something of value. And if it's backed by gold and
25:13
silver, I'm in. Yeah.
25:15
And it and it seems like, you know, you started out our
25:18
discussion with a great history lesson of the United States.
25:22
And it feels like to me that our country was built on like the
25:28
really great years where we made some real, real, not nominal,
25:33
but real advancements, that we were built on a gold and silver
25:37
standard. 100% Our best advancements in quality of life
25:43
occurred when gold was money and then also when dollars were
25:48
tethered to gold but they hadn't over printed them.
25:52
Yeah. And and and you and you.
25:53
Go ahead. I'm sorry.
25:55
I apologize. I just had the postman walk.
25:56
I got distracted. I'm sorry.
26:00
So yes, one of the things I wrote about my book, Drop
26:03
Shadow, I wrote back in 2009, and this started it all for me.
26:06
I wrote the book before I did anything else went backwards.
26:08
You know, I just needed to get it out on paper.
26:11
My thoughts wrote the book. And one of the things I did was
26:14
I looked at what is our technological advancement,
26:16
what's our standard of living under gold versus Fiat.
26:19
And I did a big table. And it's clear when you look at
26:22
the table, our most momentous achievements have been with gold
26:27
as money. And yes, we've had some
26:30
momentous achievements under the dollar, the dollar.
26:34
But when you look at the incremental value to society,
26:37
it's not nearly as high as you would think.
26:40
The Internet is huge. You could say that was done
26:42
under the dollar, but that didn't have even as much effect
26:45
as like industrialization did or other things gold and.
26:50
And not only that, but our not only economic but cultural
26:55
development, music, art, all of this flourish under a gold
26:59
standard. Look at the crap we have coming
27:01
out today. I'm sorry to the younger
27:03
generation, but the junk that we call music now, I'm sorry.
27:05
And some of it's good, but a lot of it's remanufactured, boring,
27:09
non imaginative. Where are the Mozarts of today?
27:14
Show me the Mozart. Show me Beethoven.
27:16
Where are those guys? Show.
27:18
Show me Leonardo da Vinci. I don't see them.
27:24
You know, we're making incremental improvements, but
27:26
we're not making the astounding achievements in society.
27:29
The US Constitution was based on a gold standard that that freed
27:32
man from slavery. For the first time in human
27:35
history, that was done under a gold standard.
27:38
And and and and and just looks. And you and I are about the same
27:41
age. I was born in 1970.
27:44
Obviously we were too young to fight President Richard Nixon
27:48
when he decided to take us off the gold standard, although we
27:51
would have been complaining none none the less.
27:53
But just look at what's happened in the country since 1970.
27:57
Since we've been off the gold standard, would you generally
28:01
say that the middle class, that the majority of people have had
28:07
major improvements in their lifestyle?
28:10
I would argue the point that the top 1%, the .5% of wealthiest
28:16
people have seen some pretty substantial increases in their
28:20
lifestyle. But the average person hasn't
28:24
hasn't really benefited as much as during those previous
28:28
periods. Is that is that accurate in your
28:31
opinion? Yes, it's very accurate.
28:33
You look at what happened, Look at what happened to the US after
28:36
World War 2, and we were still running on the gold standard and
28:40
we built up. One person could work and you
28:45
could have a nice lifestyle. You could go on vacation.
28:47
You could save. You were saving in something
28:50
that increased in value over time.
28:51
It wasn't highly speculative like the stock market.
28:53
Now for the bonds, which I think is about to go through a giant
28:57
bust after 30 years of being in a boom, you were.
29:00
I mean, it was a different lifestyle and now two people are
29:02
working. You can barely make ends meet.
29:04
The average family is making $70,000 a year and they don't
29:10
have $400.00 in their savings account.
29:14
That's not encumbered by credit card debt or house that I mean
29:18
people now if you look at pot people with positive net worth
29:21
more assets or money than they have debt is a very small
29:26
percentage of the population. We are so indebted now that we
29:30
have nice cars and nice houses, but we don't own them.
29:34
We're renters, we've become a rental society, we rent
29:37
everything. One statistic that came out
29:41
during the holiday season this year is the explosion of buy
29:44
now, pay later plans. And people have maxed out their
29:48
credit cards, credit card debts, over a trillion.
29:50
The first time in history? A trillion.
29:53
And God, the credit card companies, man, they're in
29:55
trouble. If people don't pay that back,
29:56
how are you going to pay back a trade?
29:57
Who has a trillion dollars laying under the mattress?
29:59
But now it's moved to the retail sector.
30:01
The retail sector is so desperate for sales that they
30:04
brought back not layaways, but buy now, pay later.
30:07
We're going to give it to you and you pay us later.
30:09
Wink, wink. We know you're maxed on your
30:11
credit cards and you're maxed on your mortgage and you're maxed
30:13
on your auto loans. We know a lot of you are losing
30:16
your full time jobs and getting part time jobs, but we're going
30:18
to let you pay later. Yeah.
30:20
Tell me how that's going to work next year when a lot of that
30:23
doesn't get paid back. We're already a billion dollars
30:25
in the first two weeks of the the retail spending season after
30:29
Thanksgiving. Yeah, people don't have any
30:31
money. And we're living on with this
30:35
idea that we're in the same lifestyle as before, But to do
30:37
so, it's on debt and it's false. It's a false reality.
30:45
And when that all of that comes due, I don't know how people
30:48
pay. And so people are basically
30:50
essentially broke. Yeah, and it feels like there's
30:53
like. Americans are dead broke.
30:55
Yeah. And it feels like there's a
30:56
confluence. I mean, then you can zoom out
30:59
and look at the national debt, right.
31:01
We could talk about that for another half hour.
31:05
And then you look at even worldwide debt over $300
31:07
trillion, I heard Ray Dalio say once and like it was a little,
31:11
you know, light bulb that went off in my head.
31:13
He said. You've got to remember,
31:15
everybody thinks they're going to get paid back.
31:18
And it's. You know, and it's like it's
31:20
it's like impossible that all that gets paid back.
31:23
It doesn't. You know it does.
31:25
And not in real, not in real value.
31:28
And if you look at derivatives, which are all derivatives are
31:32
are bets on all that stuff. We just talked about all that
31:35
debt. You know, debt is an asset to a
31:37
bank. So if you have a mortgage loan,
31:39
it's an asset to them. But what if you don't pay it?
31:41
All of a sudden, it ain't an asset anymore.
31:43
Look what happened to the bank fairs this spring.
31:45
Their treasury and mortgage debt wasn't being paid back and it
31:50
destroyed their balance sheet and they went under.
31:52
Their cash flows were the same, but the debt rating went down
31:57
and brought them under critical levels and they went bankrupt.
32:02
That is not an asset. It's a noose around your neck.
32:05
It'll kill you if you're a person, a bank, a government.
32:08
It kills out everybody and that that is going to that noose is
32:13
tightening and yes, it can all be paid back, but they got to
32:17
hyperinflate the currency they have we're going to have to
32:19
print and I need let me get back to the derivatives.
32:22
So all that stuff I just talked about, the derivatives are bets
32:25
on that. So in other words, we said, OK,
32:29
what about mortgage-backed securities?
32:30
I'm going to make a bet that I can earn 8% off of that.
32:34
And so let's create more paper on top or at a quadrillion,
32:38
almost a quadrillion dollars of derivatives, which also have to
32:43
be paid back with interest. So how much money has procured
32:47
worldwide to pay all that back? Every Fiat currency in
32:51
existence, I don't care what country you are, is going to
32:54
have to hyperinflate at the same time, or it doesn't get paid
32:57
back. And either way you go into
32:58
bankruptcy. Pick your poison.
33:00
You're either going to bankruptcy because all your
33:02
assets are really junk, or you're going to bankruptcy
33:05
because you have to hyperinflate the currency to pay them back,
33:08
and the currency's worth nothing that you get in return.
33:10
You're still bankrupt. And if you don't have gold and
33:12
silver, you're I'm, I'm sorry, but you're screwed.
33:15
I don't know what you're going to do.
33:18
I don't know. And that's why, going back to
33:20
the legislation, we need to get gold as money again, to
33:25
encourage people to have a little and silver as well.
33:29
And if you want to do Bitcoin, I'm OK with Bitcoin.
33:30
I prefer gold and silver. I have a little Bitcoin for
33:33
diversity. It's OK.
33:36
But the gold and silver are it for me because that is the only
33:40
thing that's going to have real tangible value when this system
33:43
blows up. You're 100% correct, this
33:46
system, There's no way to get there.
33:47
They're locked in. There's no way to go.
33:50
Going back to Kenneth Rogoff and Reinhart's research, I think it
33:56
was yell. And Harvard did this research
33:58
back in 2008, 2009 during the last recession.
34:01
And they looked at economies where you got 90% of debt to
34:06
gross domestic product GDP. So here's what you produce a
34:08
year when your debt level gets to 90% of that, you're in
34:12
trouble. You're headed to a default
34:14
event. Well, the US is something like
34:15
120% now. I don't know what it is.
34:18
Hundred 10120, we're not going back.
34:21
You can't. No turning back.
34:23
People say I don't want my debt. You can have it back.
34:25
It's OK. I'll you know, I'll lose
34:26
everything. No, it's not going to happen.
34:28
First, Mining Gold is a development company advancing
34:31
two of the largest gold projects in Canada, Spring Pole in
34:35
Ontario and Duparque, located in Quebec.
34:39
Each already has 5 million ounces of gold reserves.
34:43
But exploration initiatives are underway at both projects to
34:47
find even more gold. First mining is well financed,
34:52
has zero debt, and owns an interest in four additional
34:55
Canadian gold development projects.
34:59
You know, I I heard, I heard this ten years ago, Rob, and it
35:02
it stuck with me. I'm.
35:03
I'm an old accountant auditor myself and this saying stuck
35:08
with me. I read it on some Yahoo Finance
35:10
message board, but I thought to me it was so true and the saying
35:13
was that mathematics show no forgiveness on the altar of
35:18
truth, right? When you look at the, you know,
35:21
they don't, right? Like 2 + 2 = 4 in Argentina, in
35:26
the United States and Turkey and Venezuela anytime.
35:31
I mean math just in the when you look at the basic math of what's
35:35
going on it doesn't work, right? I mean you're smarter than me
35:40
and you know, we know interest rates and and compounding
35:43
interest in this doom loop, to put it simply, that we're in
35:47
doesn't end well. But 99%, at least here in the
35:51
United States, it feels like 9998% of people are just asleep.
35:56
And they're like, well, as long as you know, as long as you know
35:59
they don't, they don't want to look at what's behind their
36:05
lifestyle at this point. And I think if they had any
36:08
idea, they'd be shocked in terms of where we're heading.
36:12
Well, I think I agree 100%. I think they're starting to be
36:16
awakening. You know, I do a lot of
36:17
networking because I have a small business and networking
36:20
really there's two ways to run your small business.
36:22
You have the retail store and you have people walk in the door
36:25
and I have the online store and I've got social media.
36:28
But really you still got a network around.
36:29
You got to network with other business owners, you know,
36:32
because they're your workforce to help you with insurance and
36:35
accounting and all that stuff, but also could be your customer
36:37
and vice versa. So I do a lot of networking.
36:40
There's one I go to, and most of them are my generation or older.
36:46
So Gen. X, most baby boomers.
36:48
And they lived at a time in which if you were just honest
36:52
and worked hard, you had a good life.
36:55
And they're working hard and they're honest and they're not
36:57
able to retire now. And I sense that there is this,
37:02
this quiet desperation. There's this.
37:05
Wait a minute. I did everything I was supposed
37:07
to do and I can't retire. And most of the people I meet in
37:10
those networking meetings are doing two and three things.
37:14
And it's good. It keeps you young to have
37:16
something to do. But they were supposed to retire
37:18
and move off the the roles and let the younger people take the
37:22
jobs. That's always been, you know,
37:25
how things worked. It was sort of an apprenticeship
37:27
thing. And then the older people retire
37:28
and the younger people come on, they built themselves up and
37:31
then they told the they taught the next generation.
37:33
And that's worked for generations upon generations.
37:37
But this time the older generation can't retire.
37:41
They're working two to three gigs.
37:42
They're doing side gigs, they're doing job.
37:44
I mean and I went into one of those meetings and I was talking
37:48
with someone and and I could just tell they're like I need to
37:51
make a sale today. You know it's like they there,
37:56
there is no wiggle room there. But the but the sales are not
38:02
strong. Retail sales are not strong.
38:05
A lot of them are losing their traditional jobs and they're
38:09
late 50s, even mid 60s and they're doing a side projects.
38:12
One of the guys I know is bless him, wonderful guy is doing.
38:16
He takes old analog film and puts into digital format so you
38:20
can have you save your memories. That's his only source of income
38:24
and if people don't do that, he has no food to eat, you know.
38:28
And he previously had worked a professional job for many, many
38:31
years. He can't retire.
38:34
And that's coming to my generation too.
38:35
And and the scary thing is the baby boomer generation holds
38:41
half of the wealth in the country, and they can't retire.
38:45
What about Gen. Xers?
38:46
Millennials. Only that the Silent Generation,
38:50
most of which have died, have more wealth than the millennials
38:54
and Gen. Z Ers put together there.
38:57
And they, you know, nobody can retire.
38:59
So there's not enough money for anybody to reach Elysium, to
39:04
reach retirement. OK, it ain't happening.
39:06
Ain't nobody retiring right now unless you're, like you said,
39:09
upper half of 1%. The rest of us working, but
39:13
we're working a smaller pie and it's starting to be panic time
39:16
for people. And I think that's what's
39:18
causing people to wake up. It's they're they're not paying
39:20
attention to the Fed like I do. I'm a geek.
39:22
I I, I do that stuff. They're they're not doing that.
39:25
They're just looking around, going where's this life I was
39:28
promised? That's how they're waking up.
39:31
And it is a rude awakening, man, because I don't have a lot of
39:33
time left and they're not in gold and silver.
39:36
And I showed up at one of those meetings that I'm in gold and
39:38
silver. And the first thing out of my
39:39
mouth was, if you, if you're preparing for retirement and you
39:44
know you can't, you need to get into gold and silver.
39:48
Because if you've been doing it the other way and you still
39:50
can't retire at your age, it's time to change and you could
39:54
just see the recognition across people's faces.
39:57
I think they're starting to wake up.
39:59
But it's it's percolating. It feels like it's percolating.
40:02
It's just starting to bubble up. People like something.
40:05
It's not working like it's supposed to, and they don't have
40:07
the data in their head like I do and you do because they're like
40:10
something's wrong and they're starting to question the system.
40:14
And that's manifesting culturally and politically.
40:16
And, you know, we probably don't have time to get on that in this
40:18
show, but you see it politically manifest.
40:21
There's anger politically. A lot.
40:24
Of it. Oh, a lot of people are angry.
40:26
I, I, I spoke with a Missouri State senator earlier in the
40:30
week and I think he summed it up like people are frustrated,
40:33
angry. And I think sad a little bit,
40:36
too. I mean I'm I'm.
40:38
I'm going to joke around with you and correct you on something
40:40
you said earlier. We were talking about the 70s
40:43
when and and I thought you described this so accurately.
40:46
Like in my childhood, my dad, he was an enlisted man in the in
40:51
the Air Force Reserve. He had one job and we had a good
40:56
life. We went to Disney World during
40:58
the summer and then and then around 1980 they convinced women
41:05
that that they needed to go to work.
41:07
OK. I mean though they they brought
41:09
the women into the where my mom went to work a couple days a
41:11
week. But still we were able to live a
41:14
nice lifestyle. Fast forward to today and I
41:19
would joke around because you said now you've got the husband
41:21
and wife, two people working, there's two jobs.
41:24
It's like, no, there's more like 4 or five jobs because each of
41:27
them has their primary job and a side gig and people are just
41:32
really desperate. It's become a system.
41:38
I'm sure you've heard this before.
41:39
You know, gold is the currency of of kings and silver of
41:43
gentlemen and and debt is the the currency of slavery.
41:47
I was, I was driving down the road here in Saint Louis the
41:50
other day and going by one of those, you know, there's these
41:52
new apartment buildings going every going up everywhere.
41:54
And I thought, these people that are living in these apartments
41:57
paying $1400 a month and paying $1000 a month for their car
42:02
payment and they have $30,000 in credit card debt, I thought
42:07
they're never gonna get, they're gonna be, I hate to use the
42:10
word, but like the modern, like modern day slaves for the rest
42:15
of their life, right. They're getting up, they're
42:16
going, they're maybe they're working two jobs just to have
42:19
that lifestyle. And it's, I don't know, I don't
42:21
want to be negative, but it's kind of a sad situation.
42:24
But people are waking up and you know, to get back to our
42:28
legislation, we were talking about, you know, I think in
42:31
states that passed this legal tender legislation, it gives at
42:35
least people a chance to to protect themselves.
42:40
Yeah, it gives them a chance to protect themselves.
42:42
The first thing we got to do is get the sales taxes off of it.
42:44
Why are you taxing money? We don't tax dollars when we
42:46
exchange them. Gold and silver money, stop
42:49
taxing it. And you know, it shouldn't be
42:52
capital gains on it either because capital gains basically
42:54
is saying, well, if there's a gain in the value of the
42:57
economy, we're going to take it away from you through capital
42:59
gains. That's what capital gains is.
43:01
When you invest in, something goes up in value and the
43:04
government takes it from you. The government's basically
43:06
saying anytime you create value in the economy, we're just going
43:08
to take it right back away from you.
43:09
Thank you very much. That's insanity.
43:13
It's not what our founding fathers said when you create
43:16
this sort of neo feudalist slavery society, that's not what
43:21
they wanted. But but so to think last two
43:25
things I'll end on one for those people you just described aptly
43:29
described that can't get out of the system.
43:31
You've got one shot. You can you should be paying off
43:34
debt. But if you can't buy a little
43:35
gold and silver because when that gets revalued, that gives
43:38
you a shot at paying back your Fiat debts with gold and silver
43:41
when it gets revalued. I'm not saying it'll it'll it'll
43:43
work. At this point in time I haven't
43:45
started. It may be a little too late, I
43:46
don't know. But at least get some and then
43:50
live way below your means and try to get out as much as
43:54
possible. There's a saying, and I'm just
43:57
going to summarize, you know, debtors are slaves and neither a
44:01
debtor or creditor be. Because when the system blows
44:03
up, if you're a debtor or creditor, you're in trouble both
44:05
ways. You want to owe anybody
44:07
anything, and you don't want anybody to owe you anything.
44:10
And the way you do that to pay off your debt.
44:12
Get gold and silver, live below your means and you've got a
44:14
shot. If you don't do those things,
44:17
you don't have a shot. And that, and people need to
44:24
wake up and see the world for what it is.
44:27
Stop listening to your political leaders.
44:29
I hate to say it. They're not going to save you.
44:32
This is a world in which you have to save yourself.
44:34
You have to educate yourself, you know, by visiting your show,
44:38
by visiting my show, reading books, Mike Maloney's got a
44:41
great book out about the what the system is going to look like
44:46
of goldsilver.com. So many other people out there
44:48
are doing great content. Go educate yourself.
44:53
You and I were talking about getting so busy.
44:54
It's getting hard. And that's another thing.
44:57
It's the creep of other stuff in your life that doesn't allow you
45:00
to live the life you want to live.
45:02
It's not just the money. It's that you're running on that
45:04
hamster wheel 24/7. You can't have a life that you
45:07
want to live and so get off the hamster wheel.
45:12
Do an iron Rand. Atlas Shrugged, Atlas said.
45:15
Here, I'm not holding the world up anymore.
45:17
You don't have to hold the world up anymore.
45:19
It's not on you. Don't let that system weigh you
45:22
down. Get out of the system.
45:24
Just get the hell out while you can.
45:26
That. That's my advice for people.
45:28
Rob, on behalf of myself and everyone who's joined us, you
45:33
have provided an incredible education and insightful and
45:39
engaging conversation. Thank you.
45:43
You, you, you talked about what was it?
45:45
Neither a debtor or creditor be. I'd never thought about that.
45:49
Right. Like when the system blows, I
45:52
don't want to owe a bunch of money.
45:54
But I also don't want people owing me money because they
45:57
probably won't be able to pay it.
46:00
I can hold silver and gold. I've never thought about that.
46:03
So thank you. The last thing I want you to do.
46:04
Please. You've been so generous with us.
46:08
Give us your how. How can people help you?
46:11
How can people get in contact with you?
46:14
Or learn more? But I know you have a a a retail
46:17
bullion store and you know you've not done.
46:20
You haven't, you haven't taken advantage of this to to promote
46:23
it. But I want you to please let
46:25
people know how they can get in touch with you.
46:27
Yeah so the easiest way if you just want to chat with me is
46:29
info. That's info@goldsilverpros.com.
46:34
You can see two videos a week I do on YouTube, just look for
46:37
gold Silver pros, you'll see me and then Twitter.
46:39
We do daily stuff, 3 or 4 postings a day.
46:41
We try to do a lot of information.
46:42
I'm very informational based because I want people to have
46:46
the information to arm themselves with knowledge so
46:49
that they can educate and grow. And so we do it that way.
46:52
If you're interested in gold and silver, it's
46:54
www.goldsilverpros.com. There's a link there on the
47:00
discount page to put yourself on a list where I will call you and
47:04
I will call you won't be anybody else.
47:05
It'll be me. And I'll walk you through what
47:08
you need to know before you buy your first gold and silver, and
47:10
you even have to buy it for me. I don't care.
47:12
But I'll give you a little education, research, maybe send
47:15
you a free copy of my book that I wrote back then so that you
47:18
can kind of get started on this journey.
47:19
Because I just want people to get started.
47:20
Whether or not you buy stuff for me, I don't care.
47:23
Get started on your journey. Educate, educate, Educate,
47:26
please. That's that's the key thing.
47:27
Educate yourself. Thanks, Rob.
47:30
And we'll look forward to talking to you again in the
47:33
future. Thank you so much.
47:35
I appreciate the opportunity to be on your program and to see
47:37
your viewers. And I appreciate this so much.
47:39
And we'll run this on our channel too this weekend as
47:41
well. So we'll have it on both
47:43
channels. That way people can get exposure
47:44
here because I want them to go over and take a look at you
47:46
because I know you've been in this for years.
47:48
You put out tons of videos, a lot of great content.
47:51
And you know, we're different in the way that we present.
47:53
So we may reach different people.
47:54
And I think it's an opportunity for us to kind of get more
47:56
people involved and get more people educated.
47:59
I agree 100%. I, we, we, we, we, we do reach
48:02
probably different segments of the viewer audience, but you and
48:06
I share the same goal, which is silver and gold.
48:09
So, all right, Rob, have a great rest of the day and we'll talk
48:12
to you soon. Thank you so much.