Latest / Man in America Podcast / What a Collapse of the Dollar Means for Your Savings, Stocks, & Future (Andy Schectman Interview)

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What a Collapse of the Dollar Means for Your Savings, Stocks, & Future (Andy Schectman Interview) · Man in America Podcast

• 0:03
  Speaker 1: Ladies and gentlemen, welcome to Man in America. I'm your host, Seth Holehouse. So every day inflation is eating away at the value of our hard earned money as the prices of basic goods like food and gas skyrocket. Countries around the world are fleeing the US dollar with BRICS nations announcing plans to create a new global reserve currency. Pair this with the massive spending under Biden, and The US is about to face an economic crisis that's unparalleled in the history of our nation.
• 0:36
  Now, if you're thinking, look, we got through World War two and the seventies gas shortages and the .com crash, we just gotta hold tight and stay positive. We'll get through this one too. Well, think again. My guest today, financial expert Andy Shekman is sounding the alarm that the collapse of the dollar is imminent, and the results will be catastrophic. So he'll be joining us today to explain exactly what this will look like and how we can take action to protect ourselves right now.
• 1:03
  But before we get started, I have a few short messages for you. First off, if you're not following me on social media, make sure you are primarily on Telegram and Truth Social as Man in America where I'm most active. Also, if you're not listening to me on podcast, make sure you are as well. So every episode also goes up to podcasts on Apple Podcasts, Spotify, iHeartRadio, etcetera. Those links are in the description below.
• 1:27
  So if you wanna listen while driving or working, I'm there for you. Folks, today's show is brought to you by Rise TV. The subscribers at Rise TV are literally the reason why I can bring you this critical information today. With big tech censorship and the demonetization, they've made it really tough for people like me with a mission to tell the truth. And that's why we built Rise TV.
• 1:48
  Folks, now we're at war, and it's an information war, and this is how I'm fighting. So over on Rise, we have a massive content library and an amazing community of patriots. So come try it out. There's a link for a free trial in the description below. And folks, as you'll see beyond a shadow of a doubt in my interview today, it looks like we have some very shaky times ahead of us.
• 2:09
  As I mentioned earlier, Russia, China, India, and dozens of other countries are on the verge of announcing a new global reserve currency. And when they do, the dollar will lose its position as the dominant global currency and head towards collapse. You see, the world is fed up with The US printing money out of thin air and expecting to trade it for things of real value. So Russia has already backed its currency with gold, and many other nations are expected to follow. Even the news I got just before the show started, Zimbabwe is now handing out gold coins to counteract inflation.
• 2:43
  So this is happening. For most of us Americans, the US dollar is all we know, and our wealth is completely tied to it, whether it's through the stock market, our bank accounts, pensions, four zero one k's, etc. So if the dollar falls, all these things will fall with it. I'm not exaggerating. You could literally see your life savings wiped out overnight.
• 3:01
  And look, I'm not a financial advisor, so please do your own research. But I believe that now more than ever, it's a good time to consider transferring at least some of your wealth into physical gold and silver, real world assets that have stood the test of time. They were talking five thousand years worth of time. And for this, I'm confident recommending Noble Gold. You can buy and sell or you can buy gold and silver directly, or you can do an IRA transfer, which is what Noble Gold specializes in, which allows you to transfer your IRA assets into physical gold and silver with zero taxes or penalties.
• 3:33
  And more importantly, you can trust Noble Gold with your wealth. They have an A plus rating with the Better Business Bureau and hundreds of positive reviews from the folks they've helped. And look, I want to be really clear. You don't buy gold and silver to get rich, you do it to protect your wealth. But if things get really tough, history has left us many stories of folks scooping up land and other valuable assets for a few gold coins.
• 3:54
  So now's the time, folks. If you wanna learn more about this, open up a new tab right now and go to goldwithseth.com. Or you can call (877) 646-5347 to speak to someone right now. The folks at Noble Gold will answer all your questions and take good care of you the entire process. And again, it's (877) 646-5347.
• 4:15
  And look, if you already know someone that sells gold and silver that you work with, great. More power to you. Whether you work with noble gold or not, please act now before it's too late. Because folks, I hate to say it, but there is a lot of change coming. Alright, so my guest today, I have to give some credit to Mike Adams who had him on.
• 4:34
  That's how I discovered him. So my guest, Andy Shechman is the owner and the president of Miles Franklin. It's a precious metals company. And I've heard him connect the dots between what's happening with the geopolitics, the financial systems. He understands the central banks, the banking cabals.
• 4:52
  He understands what's happening with Russia. And the way that he was able to connect the dots with what's happening, I thought was just absolutely incredible. So I called him that day and said, hey, please come on my show. He said, okay, I'll come on, and we're gonna talk. So we're gonna do a full interview, plus we're gonna be doing a question and answer session, which will be on the public platform.
• 5:11
  So on Rumble, on Facebook, on YouTube, we're monitoring all the comments. If you have any questions for Andy, just let us know in the comments, and we'll get to those. So I hope to I hope this is a good interview for you. And I know that some people might say, hey, you're being a fearmonger. But look, folks, I'd rather be prepared for what's coming and have it not happen than get caught without being prepared.
• 5:33
  So with that, I want to bring on my guest, Mr. Andy Schechman. So Andy, thank you so much for joining us today.
• 5:43
  Speaker 2: It's great to be here, Seth. I appreciate it. Thanks for having me.
• 5:46
  Speaker 1: Absolutely. And as I mentioned, I saw you on Mike Adams, he ended up doing two different shows on you. And the way that you connected the dots was something that I've been kind of piecing together this story through my own research, but how you just tied it all together just made so much sense, unfortunately, because it's not something that we want to have happen. So can let's just go ahead and dive right in. Can you go ahead and just start with giving us just this linear series of events starting in the early 70s when Nixon took us off the gold standard, and how that's led us up to where we are now.
• 6:24
  Speaker 2: Yeah, absolutely. Before I do, just for your listeners out there who don't know who I am, we, my father and I started Miles Franklin together thirty three years ago. So I've been in the business since I was 19 years old. And most of, you know, I would argue I'm not the smartest guy on the block, but I've seen a lot, especially in this industry, that has shaped my viewpoint. As a company, we've done over $7,000,000,000 in sales without a customer complaint.
• 6:58
  We're US Mint authorized resellers, one of only 24 in the world. We've never had a customer complaint, ever, Better Business Bureau or anything. And we're very proud of our reputation of our US Mint accreditation. But the state of Minnesota, where I left my corporate office when I moved to Florida last year, but spent the first fifty years of my life in Minnesota, I left it there because it's the only state in America that regulates the federally non regulated precious metals industry. We're licensed and bonded.
• 7:31
  Background check may be one of the only major precious metals companies in America to do so. Almost every company in the country is boycotting Minnesota because of their accreditation requirements, their licensing and bonding requirements, which are only specific to Minnesota. So whether you're domiciled in Minnesota, as our corporate entity is, or sell into the state, if you're not licensed, bonded, background checked, they'll come after you. So everyone's white cutting them. So that's who I am.
• 7:59
  I've been doing this for a long time, and maybe that helps as we go through this. Before I dive in, I want to make two assumptions. The first assumption will come with a very brief story. The way that I look at gold and silver is of wealth. When I started the company together, like you said, it's wealth.
• 8:19
  It's not to get wealthy. It's been wealth for five thousand years. And when I started with my father as a 19 year old, he said to me, Look, there's one rule and only one rule, and that is if you don't buy something every two weeks with every paycheck, I'll fire you. Okay, I can deal with that, I said to him. And although I own the company now and he's been retired for quite some time, he's not going to fire me any longer, but I've honored my promise to him.
• 8:46
  Every two weeks for the last thirty three years, I've bought something. And that something to me is wealth. It's not an investment. It's wealth that I hope to never use, honestly. Maybe it comes in handy for an opportunity when the dust settles and blue chip stocks are trading at single digit price to earnings ratios paying an 8% dividend or the cabinet I've always wanted up in the woods in Minnesota selling at 30¢ on the dollar from what it is selling now because all the assets are so blown up.
• 9:18
  Or maybe I have it for an emergency. God forbid, some of the things that I see coming tell me that that's a possibility, we'll get into that. And if not, my kids will inherit it, and maybe someday their kids. And I can tell you that, you know, even in the year March, if my great great great grandchildren have a piece of that gold and silver that has been passed down long after the money in your wallet and mine is hanging from a frame in the Smithsonian, as an example of what used to be gold and silver will still be immutable wealth, as they have been for five thousand years. So that's assumption number one.
• 9:54
  Gold and silver are wealth, not an investment. Assumption number two is the Federal Reserve is full of crap. And the Federal Reserve has no intentions whatsoever of getting tough on inflation. And in order for me to quantify that, qualify that before we jump into this linear progression of events that you want me to chat about, and I'll be more than happy to, because I think it's really very important to paint the big picture, let's just make a couple of assumptions about the Federal Reserve. Recently, the National Bureau of Economic Research, NBER, came up with a study.
• 10:32
  And the study suggests that the originally reported CPI in 1980 of 13.6, had it been calculated the way that they're now calculating the CPI or the Consumer Price Index, we'd be at 9.1%, or they would have been at 9.1% in 1980. Another way of looking at that is that the 9% bogus CPI figure we have today is actually 13.5% calculated the way they used to do it prior to 1980. And John Williams of ShadowStats does an amazing job of showing this. He's actually saying that those numbers are closer to 17 or 18%. But that's neither here nor there.
• 11:12
  The So
• 11:13
  Speaker 1: the for the CPI, so the consumer price index, which is what where they look at a, you know, a conglomerate of all the different, you know, food costs, etcetera, to look at the true cost of inflation as it's hitting the consumer's wallet. Is that right?
• 11:26
  Speaker 2: It is. And they want us to believe that rising prices are inflation. They're not. They're a symptom of inflation. Inflation is always and only a monetary event, always.
• 11:37
  An increase in the money supply creates inflation, period. And the abnormal interest rates certainly helps that. The distortions in the supply chain, which push prices up even further, are an exacerbation and a symptom of inflation. But it's important to note that always and forever inflation is an increase in the money supply. And when you hear our idiot administration blaming Putin for inflation, it just goes to show they're looking at a scapegoat, which plays into what I'm getting at.
• 12:08
  But in any case, let's talk about the Fed before I get into this finishing the last assumption. The Fed says they're gonna get tough on inflation, and you know what? They're full of crap. In 1980, with 13% inflation and higher, then Fed secretary, Paul Volcker raised the federal funds rate to nineteen and three quarters percent. That's getting tough on inflation.
• 12:31
  That's ripping the band aid off like that, right? And immediately stopped inflation in its tracks. Well, if we have the same level of inflation, even if it's measured at 9% by the bogus consumer price index reporting, and our Fed Treasury, our Fed Secretary rather, says you can get tough on inflation, but only raises the federal funds rate by three quarters of a percent to one and a half percent. Now let's put that in context. We have 9% inflation with one and a half percent federal funds rate.
• 13:03
  Even take a look at three percent ten year treasury. You buy a treasury earning 3%. That's the nominal rate of interest, three. But the real rate of interest is the nominal rate less inflation of 9%, meaning you're guaranteed to get negative 6% compounding for ten years. You are going to have a guaranteed loser.
• 13:26
  And so who in their right mind would buy US treasuries? That is not getting tough on inflation. Getting tough on inflation would have been raising the federal funds rate by a thousand basis points to 10%. But just raising it by 75 basis points or three quarters of a percent, you see a mortgage rate that has doubled in one year, over doubled from three to almost seven. All right, so what happens if they raise it to five, six, seven, eight, or 10% or do what Volcker did way up above the rate of inflation?
• 13:57
  You have a real big problem. And so those are my two assumptions. Assumption number one is that gold and silver are wealth. Assumption number two is that the Federal Reserve is jawboning. They're not getting tough on inflation because you know what?
• 14:10
  They told us this month that they were going to start selling off their balance sheet. And when they made that announcement in April, I'm like, you guys are so full of it, it's ridiculous. If that's the way you feel, why not start selling it off today? That's like a heroin addict saying, I'm gonna quit in two months. Okay, great.
• 14:28
  Well, a nice ride for the next couple of months. No, that's not what it is. They should have just pulled off the band aid right then and there and started selling off their balance sheet. Well, they claimed they were gonna do $6,065,000,000,000 a month starting in June. Guess what?
• 14:43
  The last three weeks in a row, their balance sheet has increased by a total of $15,000,000,000. So that means they're gonna do 45,000,000,000 a month. They're gonna have to do $65,000,000,000 in the last week of the month or the next few days before July 4. They're not gonna do that. So they tell us, that they're gonna get tough on inflation.
• 15:04
  They raise the federal funds rate, well, well below the rate of inflation. They tell us they're gonna sell off their balance sheet. In fact, they add to it. They're full of crap. They don't wanna be the ones that like the fuse.
• 15:15
  What fuse am I talking about? I'm talking about the great reset. How does it happen? How could it happen? When Klaus Schwab said that a few years ago, I thought it was out of his mind.
• 15:26
  This guy's an idiot. But the more I think about it, maybe not. Maybe maybe not. And I hate look. I have three kids.
• 15:33
  My youngest is 15. I don't wanna be right about this. I I really truly don't want to be right about it. I have a feeling I may be. So let's dive into it.
• 15:44
  And I'm going take you on a journey like I did on Mike's show going back to 2017. And we're going to go through a series, a linear pattern of events, series of events, of which there are three, maybe call it four, really big events that happened along the way. And I think it's really relevant to note that our media does a horrible job of telling us anything that's important. Because all four of these events really haven't been too well covered in the media. But I think when you put them together, along with some other things that I'll throw in, it's it's interesting.
• 16:21
  Maybe you'll see the same thing that I do. All right. So we'll go back to 2011 for a brief moment. 2011 was the end of a decade long bull market in precious metals. You had gold moving up roughly 15 to 20% every single year for a decade.
• 16:46
  2011 comes, we hit $50 silver, dollars $19.20 gold, and then we embark upon a six year downdraft in metals. 2017 might have been the worst year to own a precious metals company in my thirty three year career because you had Bitcoin expressing itself, really expressing itself. You had the stock market doing extraordinarily well, and you had gold getting clubbed for six years straight. In all the years I've done this, we've done $7,000,000,000 in transactions in thirty three years. And in all the years I've done this, typically one out of 100, if not even that, of all the transactions we do, people are selling something instead of buying.
• 17:35
  This is an industry where far fewer people sell back to us, although we do provide that than do buy from us. And in 2017, that number industry wide was about 65%. Seven out of every 10 calls you got, people were selling and angry. You know, thought gold and Bitcoin were cut from the same cloth. I'm going to sell my gold and go to Bitcoin.
• 17:59
  Even the Dow Jones is going up, what the hell is going on? I wanted to hide under my desk or just play golf all day and not work. Obviously that didn't happen, but that's how bad it was in 2017. And then something happened and things started to change. And this is where the story begins.
• 18:18
  So just to
• 18:19
  Speaker 1: frame it, so in 2017, you saw more than you'd ever seen that people were just getting rid of gold and silver.
• 18:24
  Speaker 2: Capitulation to the nth degree. Exasperation, capitulation, aggravation, any Asian you can think of that was there. And part of me understood it. Got it. It made sense to me.
• 18:42
  And maybe the next time I come on, we can devote the entire segment to central bank and commercial bank manipulation of the gold market, which is something I'm an expert in, I think. I've been dealing with it and talking publicly about it for over a decade. And it's real, right? To the point where JPMorgan paid a $920,000,000 fine a year ago for manipulating the metals market. So let's just say I understood the exasperation, I've been talking about manipulation and praising the folks at GATTA, the Gold Antitrust Action Committee, Bill Murphy and Chris Powell, for the fight they've made for years of exposing the overt manipulation in the metals market.
• 19:25
  There's manipulation everywhere. There's manipulation in the interest rates. There's manipulation in forex. Chris Powell of Gata has famous for saying there are no free markets anymore, just manipulations. So yes, this is where it begins.
• 19:38
  And it starts with the fact that leading up to 2017, over these six years as the market's going down, central banks are selling their gold. And it never really resonated with me why they were selling their gold until after the fact, and we can talk about why they were. When I get to 2019, I'll tell you why they were. But central banks are selling their gold, and all of them, and it was really aggravating, just adding insult to injury. The public's selling their gold, the media's bashing gold, everything's going up, and central banks on top of the public is dumping gold.
• 20:16
  Then all of a sudden you get an article on mainstream news saying the German Bundesbank has aggravated at the Fed. The German Bundesbank, who had been trying to repatriate their gold quietly for a few years prior to 2017, have gotten aggravated and said, We want all of our gold that you've been holding for a very long time. You see, at the end of World War II, when the Allies met in Bretton Woods, New Hampshire, to anoint the dollar, the world reserve currency, taking over for the British pound, the promise that The US made to the rest of the world is your dollars that you hold of ours will always be exchangeable into gold at a fixed rate of $35 an ounce. This is to the government, right? Not to the people, but to the government.
• 21:01
  And so what would happen is all these governments would give us their gold. We held most of the world's gold because gold was a non interest bearing investment or asset. So as an example, a Bank of Portugal could give us all of their gold, which was just sitting earning nothing but dust, give it to us, and with the proceeds that we would pay them, they would buy US Treasuries. Those Treasuries would help the West, and they would also allow this country, Portugal at the time, but many others, of course, to turn their non interest bearing asset into an interest bearing asset. And after all, all they needed to do is trade those dollars in and get their gold back whenever they want it.
• 21:43
  So the dollar was as good as gold. It was a good deal for the whole world. We got everyone's gold and held it for them. They bought our treasuries, which helped us. And then they got to earn interest on it and could always trade it back, right?
• 21:56
  So if we realize that the West was holding most everyone's gold, the German Bundesbank said, give us back our gold, we've been holding it for a very, very long time. Well, within a few months of that happening, most of the European banks started doing the same thing. The Dutch National Bank, Bank of Austria, Bank of Turkey, Bank of Poland, Bank of Hungary, All of these banks start saying, hey, we want our role back to it, not just from the New York Fed, but from the Bank of England. So we see a theme of repatriation going on in 2017. Really, really interesting and unusual after everything that we've seen leading up to this point, including central bank divestiture.
• 22:44
  2018 rolls along and those banks, those same banks, bought more gold as a group together than they did in the sixty years previously combined. Out of nowhere, they go from net sellers to bang, straight up, buying. Woah, what the hell is going on here? It was very, very, very unusual to see that. 2019 rolls along, those numbers are up 90%.
• 23:11
  So the year before, they're at 60% more than or 60 times what they bought over the last, you know, many years. And now all of a sudden, those numbers are up 90%. So now everyone's starting to notice the central banks are buying gold. Well, all of a sudden, pillar number one, the first biggest event of my career happens in April of twenty nineteen. And our media is so behind the curve, they don't tell us, no one even talks about it to this day.
• 23:44
  But all you've to do is Google this and you will see that gold was reclassified from a tier three asset to a tier one asset. The only other tier one asset in the world next to US dollars and treasuries.
• 24:02
  Speaker 1: So this is reclassified on a global level? And which organizations reclassified gold is that?
• 24:07
  Speaker 2: On a central bank level. The Bank of International Settlements is the central bank or central bank in Zurich.
• 24:12
  Speaker 1: I see. So in April 2019, they moved gold from being a tier three up to a tier one asset. And almost as if all those banks for the past couple of years that were buying and repatriating all that gold back into their countries, they knew something was coming.
• 24:31
  Speaker 2: They front rent. They take care of themselves first, for sure. And the reason the banks were selling in years past is that a tier three asset only enabled the banks to declare 50% of its value on the balance sheet. So you get the new kids that would take over for the gray hair central bankruptcy and say, what the hell are we holding this stuff for? Pays no interest.
• 24:50
  It's volatile and risky. It costs us money to store it. Let's just and we can only calculate 50% on the balance sheet, which denigrates our balance sheet. Let's sell it by treasuries or do whatever the hell we want, buy securities. And so there was a theme to sell it.
• 25:05
  Well, all of a sudden, it's now reclassified as the world's only other tier one reserve asset. It's riskless. In other words, if I were to write you a check for a million dollars as a loan, and you gave me a briefcase with a million dollars of hundred dollar bills, you gave me a tier one collateral, I have no risk. It's go ahead, don't pay me back, I've got your cash. Well that's pretty much what the central banks are saying about the Bank of International Settlements about gold.
• 25:32
  It's tier one, the only other tier one reserve asset in the world. That's put a big red circle around that. So that's number one. Big event. So 2020 rolls along and we see those banks increase the amount of gold that they're buying again dramatically.
• 25:53
  We see huge accumulation from the BRICS nations, Russia and India, China. They're all massively accumulating. They're the largest producers of it in the world. They don't really sell hardly any. They accumulate more, they produce more.
• 26:09
  So you see a massive quiet acquisition of gold. Now people are saying, well, if that's the case, why didn't the price go up? Well, I'll tell you why the price didn't go up, that's manipulation by the West. The following year in 2020, we see all sorts of things start to happen. We see JPMorgan get accused of manipulating the metals market and ultimately pay a $920,000,000 fine to the Justice Department for doing so.
• 26:39
  At the same time, Ted Butler has done an amazing job of documenting how they've accumulated over 1,100,000,000 ounces of physical silver, and that's 11 times what Hunt Brothers tried to buy in 1980, And over 40,000,000 ounces of gold, all told it's the largest physical position of metal the world has ever seen at one time, and it's in their private possession.
• 27:01
  Speaker 1: So that's in the possession of JPMorgan.
• 27:03
  Speaker 2: Yes, and they used the suppressed price of metal to accumulate the physical. Now, just goes to show how ridiculous our regulators are, entity is brought up on RECO charges, has a deferred agreement in terms of prosecution, pays a $920,000,000 fine, and is still allowed to be the administrator of the world's largest silver trust, SLV. Talk about the fox guarding the henhouse. But the regulators have their head buried straight up there, you know what. Anyways, we'll continue.
• 27:32
  So 2020 is a very interesting year. So we see a lot of things happening. We see the International Monetary Fund, the IMF, come out and say, Hey, we want a new Bretton Woods. Well, International Monetary Fund was formed at Bretton Woods at the end of World War II. And it's 01/1995 or so countries from around the world who are basically saying we want a new system.
• 27:57
  In 2020, we see the rise of a group of very sophisticated private traders on the COMEX. Now I don't want to go too far down the rabbit hole here, but I'll say this: every week the commodity exchange, the COMEX, publishes a report, and it's called the Commitment of Traders Report. And this report Is
• 28:15
  Speaker 1: the COMEX, is this is it based out of out of Chicago? Where's the COMEX?
• 28:19
  Speaker 2: Yes, it is. It is based out of Chicago and the NYMEX out of New York.
• 28:23
  Speaker 1: And so is the COMEX basically like it's almost like the stock exchange for commodities that sets the price of everything from milk to silver, is that correct?
• 28:32
  Speaker 2: That is correct. And if you've ever seen the movie Trading Places, that's the Kolbeks. And so in any case, yes, so they publish a report every week and they would, it's called the Commitment of Traders, and it would only show the positioning of the largest traders. And there's two of them. There is the commercials and the specs.
• 28:51
  The specs are the hedge funds, the commercials are JP, Citi, Goldman, Bank of America, those guys. And so it would show the positionings of both, and it's a zero sum game. So one sells, one buys, and one would go short, one would go long. It's important to note that COMEX contracts almost never stood for delivery. I mean, you could.
• 29:09
  A COMEX Gold contract is 100 ounces, a COMEX Silver contract is five one thousand ounce bars. It's a difficult thing to go through to get it, but you know, COMEX is used, the commodity exchange was originally designed to hedge risk. Like a farmer who plants a field in April, not sure what the growing season will be like, Well, can forward sell his wheat to baker for September delivery at an agreed upon price. The farmer's happy, the baker's happy, everyone wins. The farmer offsets his risk.
• 29:42
  For me, if I own 1,000 ounces of gold in my warehouse, I'll sell 1,000 ounces on COMEX. So that as the price of what I have in my warehouse goes down, it goes up commensurate on what I sold short and vice versa. I'm always market neutral in terms of my inventory. You can't speculate on inventory. I make my money on transactions.
• 30:02
  So we use it the way it's properly meant to be used, and that is to offset risk. So in any case, 2020, all of a sudden there's the third group of reportables comes out of nowhere, and they are titled the Others. And we discern that they are family offices and sovereign wealth funds who in 2020 took more silver off of the exchange than we typically see in a decade. They took more gold off the exchange in terms of deliveries than the Bank of Japan holds in their official reserves. 2021, same thing.
• 30:34
  This year, because of all the scrutiny and attention, we see a rise in what is called exchange for physical. And that is they take these contracts and they send them to London, and London delivers the metal at the London Metals Exchange. It's much more opaque, much more private, and guys like me can't talk about it the way that really was starting to gain attention as the metal was being bled from the COMEX all of So
• 30:56
  Speaker 1: basically, if I understand correctly, around 02/2019, '2 thousand '20, into 02/2021, that you're you're seeing that these private families, which, you know, that could be the Rothschilds, it could be the Morgans, it could be the Vanderbilts, etcetera, that the they're showing up as the others on the Comex exchange that they're all of a sudden going through a just massive buying spree of silver and gold. Those bankers are coming
• 31:22
  Speaker 2: Not just buying, but taking possession, delivery off of the exchange. Something that was very, very, very unusual.
• 31:31
  Speaker 1: What we're seeing, just to recap in general, is that in the past couple of years, everything has changed, and you're seeing the central banks, the big wealthy families, the governments around the world rushing to get physical gold and silver into their hands as if they know that something is coming.
• 31:48
  Speaker 2: And using the levered futures price of roughly 35 to 1 to suppress the price. So they paper it down with levered futures contracts and accumulate the physical. It's misdirections, the no look pass in basketball. Hold down the paper price, goose all the other markets, pull off all the physical while no one's looking. So we see this constant theme of de dollarization, of repatriation, of gold taking possession and accumulating it.
• 32:18
  And this is all very unusual at this point. 2020 we also see really the growth of big event number two in my career, and that is the rise of the Chinese Belt Road and Rail Initiative. And I don't know how much you've covered this.
• 32:36
  Speaker 1: Quite extensive, and actually I brought up a map to show of this, just so if you want to talk about this. So this up on the screen, this is a map of their international trade routes that they've developed.
• 32:46
  Speaker 2: So the Belt Road and Rail Initiative is the largest infrastructure project in human history. It is connecting Asia and Africa, and it's now growing to Iran and to Argentina. You're seeing all sorts of other countries sign on to it. What it is, it's a infrastructure of channels, of rails and maritime channels and roads and bridges. It'll only be patrolled by military and commerce.
• 33:19
  It is the Panama Canal on steroids. It'll be used to trade goods all throughout this region, which represents 75% of human populations. Think about that for a moment. 75% of human population is now part or will be part of this industrialization, the Belt Road Initiative, and all of it will be settling on the new Chinese digital yuan. And in the last year and a half they've done about 12,000,000,000 in transactions on the back of the digital yuan, which they rolled out parallel with their paper and maybe with their paper regular currency.
• 33:56
  They didn't do one or the other. They rolled them bolt on. Ultimately, I think they'll switch. But you have a new digital yuan settling all these contracts that used to settle in dollars. And all of these trade routes and all of this commerce that will be, you know, at least 75% of the human population will be void of US participation.
• 34:19
  So things at this point are not looking so rosy for the US dollar. And as we continue to move forward over the next two years, I think you'll see what Klaus Schwab was talking about isn't really that impossible. And, you know, it's important to mention that in 2020, when we start to see the problems with the virus and the reaction by the governments, The US printed 70% or so of every dollar ever created in the history. And the reason I'm not quite sure what that number is, is that the number was 60 or 70%, but the way that they now calculate M1 and M2, it actually works out to over 80%. If you Google it, they'll say it's 80%.
• 35:03
  I'm not quite sure it's 80%, but it's a lot. 60 to 80% of every dollar ever created in the history of The United States has been done in the last two years. The M2 money supply has increased by 50% in the last year. I mean, this is massively inflationary. It has nothing to do with supply chain problems and Putin.
• 35:22
  It has everything to do with wicked and massive money creation and low interest rates, which have distorted the hell out of all the assets. House prices do not double in a year. Equity portfolios do not triple in a year. And these things are happening because easy money and low interest rates has enabled the wealthiest hedge funds in the world to borrow money at next to nothing and plow it into everything from cryptocurrencies to real estate, jack everything up to levels that are unrealistic against the lowest interest rates in human history. So you have asset prices at all time highs.
• 35:58
  And that's another thing to keep in mind as we continue down this road. So, you know, as we're rolling through 2020 and all these things are happening, the IMF is asking for a new system. You see all these private investors, hedge funds, I mean, family offices and sovereign wealth funds taking possession of metal. You see commercial banks taking possession of metal. You see central banks taking possession of metal.
• 36:22
  And oh yeah, it's now tier one. The only other tier one asset in the world, but they don't talk about it. They're holding down the paper price of levered futures contracts and accumulating the physical, pulling it off the exchanges even. This is not good, and it starts to become very obvious what is happening. 2021 rolls around, and we start to see other cracks, if you will, in the system.
• 36:51
  Maybe this is the third pillar. Again, we're seeing central banks continue to wickedly accumulate it, especially the BRICS nations, Brazil, Russia, China, India, South Africa, continually accumulating gold. But maybe the biggest event of my career in all of our lives happened in September of twenty twenty one, and our pathetic media doesn't speak about it. Not a word. And it just goes to show how unprepared we all are for what is coming.
• 37:19
  And I don't want you to answer this stuff because you know the answer, but I don't think most of your listeners do. And that question is, well, I mean, if you don't know it, you can answer it. If you think you know it, don't answer it. And the question is, what makes the dollar the world reserve currency? Remember, after World War II, you could trade your dollars in for gold as another country.
• 37:47
  And it was always that way. Before I tell you what makes the dollar world reserve, I'll just tell a quick little story, and that is, towards the end of the Vietnam War, President de Gaulle from France started to realize that we were printing more dollars and issuing more treasuries than we had gold backing it at Fort Knox and at the US Treasury. And so he sent warships from France, filled with US dollars to New York Harbor demanding conversion into gold, and he got it. And bled down over half of the gold held at the Treasury. So in August of nineteen seventy one, President Nixon closed the gold window.
• 38:29
  That's it. Went back on our promise to the world: gold, you can no longer redeem your dollars for gold. And the 8,300 or so metric tons that we hold supposedly at Fort Knox, which has never been audited since 1956, is supposedly the largest stockpile of gold in the world, which I don't believe. Alastair MacLeod, one of the brightest minds I know in this industry, surmises China has over 38,000 metric tons, of which 20,000 belongs to the state and 18,000 to the people. That would be five times what we supposedly hold.
• 39:02
  But I digress. Anyways, the day we left Afghanistan, well, let me back up. When he closed the gold window in 'seventy one, the dollar was completely and totally fiat. Three years later, Henry Kissinger is deployed to Saudi Arabia and strikes a deal with the Saudi Kingdom and says, hey, we're going to protect you. We're going to provide you ammunition and weapons, and we're going to have your back too.
• 39:34
  We'll call it joint military cooperation. No one will ever mess with you, ever. And for that privilege of protection, your bodyguard, you're going to denominate oil globally through OPEC. And since 1974, that is what has made the dollar the world reserve currency. It is the protection of the Saudi Kingdom.
• 39:55
  Period. End of story.
• 39:56
  Speaker 1: Basically, we exchange, we'll use our military industrial complex to protect the Saudi Kingdom to look away at your own crimes against humanity. And in exchange, you know, through OPEC, you will force the whole world to buy and sell oil in gold or sorry, in the in the US dollar, which will then force demand for the US dollar, which is now you know, it's a fiat, has no bat no backing. So it's almost like they turned it into a commodity backed currency, yet it was
• 40:24
  Speaker 2: Petro dollar.
• 40:25
  Speaker 1: That's why
• 40:25
  Speaker 2: Petro dollar. Because you had to own dollars to buy oil. So it created a synthetic demand, to your point. Every country on the globe has it, has dollars in order to buy oil. And so it's been the protection of the Saudi Kingdom for the last fifty years that has enabled us to have the dollar hegemony, the printing press, the world reserve currency.
• 40:48
  So here's where it gets really weird, and things start to get really scary. So let's just stop for a moment and look at all the things that have happened. We see gold being reclassified Tier one. We see the central banks front run that decision. We see all the banks pull it home.
• 41:03
  We see the wealthiest private investors in the world start draining COMEX and now the London Metals Exchange of their metal. We see JPMorgan suppress the price, get fined $960,000,000 on repo charges, and at the same time accumulate the largest physical possession of metal the world has ever seen along with the other central banks or commercial banks. We see this acquisition, de dollarization, and removal of counterparty risk going on all around the place through pulling it home and not letting anyone else hold it. So the day we left Afghanistan in September of twenty twenty one with people hanging from an airplane, with our own Americans behind enemy lines, with the Afghan freedom fighters who were on our side, we provide their, what's it called, their biometrics to the Taliban. They know where they are and who they are, and checkpoints, you're dead.
• 42:02
  And so we turned our back on our allies and our Americans unlike anything America has ever done. It was, I found it, to be putridly horrific. And I was for that day very embarrassed to be an American. Now I'm a patriot and I love this country, but that was one of the worst things I've ever seen us do. And I think there's no coincidence in the timing of this announcement.
• 42:25
  The day after we did that, Russia announces a joint military cooperation agreement with Saudi Arabia. So let me just say that one more time. Russia announces a joint military cooperation agreement. Sounds very much like what we've had for the last fifty years with Saudi Arabia. The day after that, they announced the exact same thing with Nigeria.
• 42:48
  The day after that, Zero Hedge article that talks about this, that they announced that all of their nuclear powered submarines are outfitted with hypersonic ICBMs. These are missiles that the State Department claims we do not have the technology for yet. They go over Mach 10, up in the atmosphere, hit the ground at the speed of an asteroid, and cannot be knocked down. Pardon my French here, I'm sorry for cursing, but that was their way of saying don't even think of fucking with us the way you did Saddam Hussein and Muammar Gaddafi, both of which threatened to sell their oil for gold or or euro or whatnot. Here you have Russia now protecting the two biggest OPEC producing countries in the world.
• 43:31
  And it is our protection of Saudi Arabia that has given us the exclusive world reserve currency status. So now this is not looking good at all at this point. And I'm going online freaking out since September. Every podcast I've done since September I've said this, that was the biggest event of all of our lives. Because what if?
• 43:51
  Well, a month ago Nigeria came out and said, We are now selling oil to China and Yuan. Really. That's the first time an OPEC producing country has done so in anything other than dollars since 1974. The yuan payment that people of those countries would receive is in what's called the Chinese Petro Yuan Bond. That bond is denominated in Yuan, but it's immediately convertible into gold on the Shanghai Gold Exchange.
• 44:21
  This is why the Shanghai Gold Exchange has delivered anywhere between 9,100 times more gold than the COMEX has in the past several years. So China will buy oil from these countries, pay for it in a bond denominated in yuan that is immediately convertible into gold on the Shanghai Gold Exchange. Want to talk about sidestepping sanctions? There you go. So you have Saudi Arabia subsequently in negotiations and has all but agreed to do the same thing.
• 44:47
  The two biggest OPEC producing countries in the world now are being protected not only by Russia, but remember the Belt Road Initiative Nigeria is part of that. Now you're being protected by China as well. So you're not going to go mess with China and Russia the way you did Saddam Hussein and Muammar Gaddafi, who couldn't defend themselves. China and Russia certainly can. By the way, China has hypersonic ICBMs as well, we do not.
• 45:13
  So now it's getting a little bit frightening, right? And here we move to 2022. And I'll call this maybe number four biggest event, and that is the weaponizing of the dollar. We kick Russia out of SWIFT right into the open arms of the Chinese and the BRICS nations and their SIPPS system, cross interbank payment system, it's just like SWIFT. And every one of those countries, I guarantee you, are thinking, are we next?
• 45:46
  Are they going to freeze our assets? China's got eyes on Taiwan. If that's the case, you think they're going to buy our treasuries ever again, thinking they may get frozen, sanctions, their assets stolen. No, they're not. And in fact, I think we have incentivized the rest of the world to find an alternative.
• 46:04
  Now, just the other day, let me see this article. And I'm going to read it, it's about a minute and a half. It says, BRICS developing new global reserve currency will be based on a currency basket of the five nation block according to the Russian president. President Vladimir Putin said on Wednesday that the BRICS countries are currently working on setting up a new global reserve currency. The issue of creating an international reserve currency based on the basket of our currencies of our countries is being worked out, Putin said at the BRICS Business Forum.
• 46:40
  According to the Russian president, the member states are also developing reliable alternative mechanisms for international payments. That's SIPPS. Earlier, the group said it was working on establishing a joint payment network to cut reliance on the Western financial system. That's SIPPS. The BRICS countries have been also boosting the use of local currencies in mutual trade.
• 47:02
  And that would be like Russia selling arms to India for rupee and ruble. That would be like Russia selling their coal and natural gas to China for Yuan that can immediately be converted into gold. They are sidestepping the dollar in settlement. And so when you take a deeper look, we just saw the other day a new route that was now finalized, and that route goes basically from Iran to India, safe passage past Russia and all these countries. It's another trade route, they're all part of the BRICS nations.
• 47:38
  And oh, by the way, Iran and Argentina just signed on to the BRICS accord. So you have all of these countries moving away from the dollar. These are countries, as Zoltan Posar, who used to work for the New York Fed calls the beginning of Bretton Woods III, which is a system based upon commodities. Now, here's where the Great Reset happens, and let's talk about how it could happen. When Klaus Schwab said there's a Great Reset, I thought the guy was a fool.
• 48:05
  I mean, shut up. How the hell does that happen? Well, let me tell you how it happens. And it goes to show we are teetering on the edge right now on some very bad things. And just how fragile this whole system really is, I think I'll show you right now.
• 48:19
  So the Fed blows up the money supply, keeps interest rates low, creates distortions and misallocations of capital, and all of the assets have gone sky high in an environment of the lowest interest rates in human history. Stocks, bonds, and real estate have all gone to the moon, right? And all three of them are what? Inversely correlated to what? A rise in interest rates.
• 48:44
  When I started in this industry, stocks and bonds were inversely correlated. It was called risk on, risk off. You buy stocks when you're young, you transition to bonds when you're older, nearing retirement, and remove the risk. Well, that was when interest rates were 9% in 1990. And so when you're talking about the low interest rates that we've seen all these years, stocks and bonds have lost their inverse correlation.
• 49:10
  In fact, they're positively correlated, but inversely correlated to a rise in rates, as is real estate. So here's what happens. Saudi Arabia wakes up one morning and says, you know, let's call this on a Sunday night when markets aren't even open in the West. And they say, you know what, we've decided that we too are going to be part of the BRICS conglomerate. We are going to in fact open up the sale of oil globally in other currencies.
• 49:45
  We're gonna do Yuan, maybe the new Chinese digital Yuan. We're gonna do Euro. We're going to do Ruble. We're gonna do all these other currencies. And what happens overnight?
• 49:55
  Overnight, like that, it happens. And on Monday morning, as all of the countries around the globe who have been forced to hold dollars to buy oil don't want to, would rather use other currencies, dump dollars, and it becomes a hot potato as one country, the next country, the next country, the next country. They all sell, sell, sell, sell. Just like Mortimer Duke did in trading places sell because everyone is selling. And as everyone is selling, the dollar is getting clobbered and coming home.
• 50:22
  Remember, The US represents 10%, twelve % of the human population. That means everyone else on the globe is the other 80% or 90%, they're dumping dollars. If you think inflation is bad now, imagine what happens when eight or nine times the amount of dollars that we see here come flooding home. Well, creates hyperinflation and destroys the dollar. That's pillar number one.
• 50:44
  What does hyperinflation do to interest rates? Straight to the moon. Stocks, bonds, and real estate all simultaneously collapse as interest rates spike to the moon and the dollar with it. All four of the pillars of wealth in this country stocks, bonds, real estate, and the dollar simultaneously collapse in that environment. So in essence, it's Saudi Arabia and OPEC hold our faith in their hands.
• 51:08
  If they decide to no longer take just dollars as it looks like they're doing, it's over in this country like that. Now, let's go back to my original premise. The Fed talks about raising rates, but doesn't. Talks about selling off their balance sheet, but actually adds to it. They're jawboning.
• 51:27
  What does our stupid administration say is causing inflation? They're saying it's Putin. If you look at inflation, the minute Biden was elected, inflation starts going to the moon and at the tail end of its peak comes a Ukraine war. It isn't Putin that's creating inflation. Inflation is always a monetary event, always an increase in the price supply.
• 51:51
  Supply chain problems only exacerbate the price increase or the supply chain problems. But inflation is a monetary event. So how about finding a villain like Putin, like OPEC, like the BRICS nations who say we're no longer going to take dollars, just dollars. When that happens, now the Fed is not on the hook for blowing up the whole US economy, all of which is inversely correlated to a rise in rates. So yeah, we're gonna get to It's so ridiculous that when Powell was asked two, three, four days ago at their two day meeting on the second day was QA, they said, one of the senators said, Well, you know, we got this huge debt.
• 52:36
  Isn't rising rates going to affect our interest payments on that debt? And said, You know what? We don't even factor that into our thinking. Really? You don't factor that into your thinking.
• 52:45
  Really? That's kind of interesting considering a $30,000,000,000,000 debt, every 1% rise in interest rates is $300,000,000,000 in interest payments. He is thinking about it. He's just lying. Because here's what happens.
• 52:56
  If indeed rates rise, you end up with not only the national debt being unsustainable, but blowing up all of the assets in this country that are inversely correlated with that rise. So now you have a villain and that villain is Putin and Xi and OPEC and the BRICS nations. And this is where Klaus Schwab could actually be right. Because if that happens in a matter of hours, everything collapses in the face of massively rising interest rates and hyperinflation. So when I talk about how this could happen, I hope to God I'm wrong.
• 53:37
  Like I said, I got three kids, my youngest being 15. But I think that we have outlived our good graces of our foreign creditors. And by weaponizing the dollar and telling the world who can and can't use it as the administrator of the world reserve currency, you sealed your fate. Because you cannot do that. And now everyone is wondering, are we next?
• 54:04
  And they're finding alternatives. And those alternatives will be in striking unilateral agreements, not only in terms of business, but also militarily. Are we going to go mess with the BRICS nations, Russia and China, India, nuclear powered countries, or nuclear weapon holding countries? Or are we just going to acquiesce? So much so that Fed Chairman Paul two months ago came out and said, you know, there's room for more than one world reserve currency.
• 54:28
  He's already giving in to the reality. Only question is,
• 54:32
  Speaker 1: was
• 54:34
  Speaker 2: the move to kick Russia out of SWIFT intended or unintended? In other words, consequences that I see intended or unintended? Would moving everyone away from the dollar be an unintended consequence or an intended consequence to label a scapegoat? Because I do believe when you realize that a trillion seconds ago was thirty one thousand six hundred and eighty eight years ago. When you realize that a thirty trillion dollars debt is only about 25% of our indebtedness because you're talking well over $100,000,000,000,000 in unfunded liabilities, Medicare, Medicaid, Social Security, government military pensions, all of which was accumulated at super low interest rates.
• 55:16
  Do they realize that the game is up on this Keynesian fiat system? And that there's really nowhere we've squeezed as much out of the turnip as we can, and there's really nowhere to go but reset. So basically,
• 55:33
  Speaker 1: what it looks like is this, I'm seeing two angles to this. One is that they've milked all that they possibly can out of the dollar, and they've created so much debt, it's irreversible. It's it's there's no way to go back and correct that. You can't do what they did in the eighties. You can't, you know, raise interest rates to counteract inflation.
• 55:52
  They're in a kind of damn if you do, damn if you don't situation. But as well simultaneously, you have these BRICS nations, you have China, Russia, etcetera, working to actively remove the US dollar as the global reserve currency, as the petrodollar, which could come as an announcement overnight where that that's how fragile our dollar system is. Because a lot of people I talk to, they say, oh, we're entering into another recession, and they they don't they don't see this perspective of the fragility of the dollar that if that announcement comes from OPEC, that they are basically going to kick The US out of that slot, that will be the first domino, which as you mentioned, then you'll see the next day all these nations dumping the US dollar because who wants to hold on to it? It's almost like if you see that, you know, a major stock has a huge problem that comes up, you're selling as quickly as you can, because you know that it's the end of that that company.
• 56:48
  Speaker 2: And that gets more and more and more and more and more selling. That's right. So
• 56:52
  Speaker 1: what does that, you know, for the average American, you know, people that have their, you know, four zero one ks, and I think as you mentioned, I think on Mike's show, collectively, on average, only about, I think you said, half a percent of Americans are holding assets in gold or silver, and which has come down drastically, especially as you say with Bitcoin, a good stock market, etc. What is this? How does this change our way of life? Are we talking, is this like the housing crisis of two thousand and eight? Is this like the Great Depression?
• 57:26
  Or what does this look like for someone who's trying to get by in America?
• 57:30
  Speaker 2: Well it's either death by hyperinflation or death by depression, one or the other. And at least in terms of the Fed, they can't really engineer it any other way. Look, I think what it means is that if you hold everything in dollars, you're destined to go broke. And that's the truth of it. The sad truth of it, in my opinion, because there is no way for the Fed to get tough on inflation without blowing up the markets.
• 58:01
  There just isn't. And as rates, I mean, at the mortgage rate has doubled from almost 7%, and federal funds rates only at three quarters of 1%, Right? And so what happens if they really try to get tough on inflation and raise rates to 9% on the federal funds rate? You're talking mortgage rates of 14%. What does that do to the housing market?
• 58:23
  What does 13 or 14 or 10% or 12% on the ten year treasury. What does that do to the bond market? All of which these bonds have been sold at 1% or in that neighborhood. The Federal Reserve just came out yesterday and said they're already equity on their balance sheet. Negative equity because just a little bit of rise in interest rates has kneecap the bond market.
• 58:46
  What happens if rates really rise? You're talking blowing up the biggest bubble of all time, the bond market. That kills the real estate market, it kills the bond market, it kills the stock market. They know this. So there's not a lot that they can do.
• 58:59
  And so what can the average person do? You can minimize your exposure to the dollar. You can get rid of all variable rate debt. A mortgage at 3% is free money where we're going, where we're headed, and where we're at right now, or 4% or even 5%. But I think you do what you can to get out of debt, to protect your family in every way possible, physically, with food, with water, be prepared, own some gold and silver, have some cash and small bills around the house.
• 59:33
  But know, short of that, there's not a lot any of us can do. And I think when we talk about where to put your money, this is why I said gold and silver to me are wealth. Because we are entering a period of time where I think all traditional forms of wealth in this country are going to get into trouble. And when you put it into context and take a step back from that and see what all the central banks are accumulating and how they reclassify gold tier one, it makes it a little bit easier to see that, hey, if they're all doing this but misdirecting the price, not talking about it, you can see it, if they quietly reclassified it, know, to me it's obvious. That gold is going to be part of a next system.
• 1:00:21
  If I had to guess how it plays out, it is that, as I mentioned, 12,000,000,000 in sales on the new transactions on the digital yuan already. These nations all call a blessing. You heard what Putin said, we're going to come together and make a new world reserve currency. Well, if the Belt Road Initiative in and of itself without bringing in the other BRICS nations, Just China and Africa represents 75% of the human population. What happens when you bring in all the BRICS and all the new countries that are signing on?
• 1:00:50
  You're talking 85%, ninety % of the human population all moving away from the dollar. And so I think that this is very different this time. And I think it's about a currency collapse. In 02/2008, it was an issue of credit contraction, All the credit dried up. Well, it's a whole different ball of wax when the dollar is getting crushed and dumped and forsaken.
• 1:01:15
  And so I think you buy as much gold and silver as you can. This is why I said it's wealth, it's not an investment. I'm not selling you high grade numismatic coins or something to get rich. I'm selling you gold and silver bullion to protect your ass when this all happens. And I think there's a high probability that to some degree or either less or more severe that it does happen.
• 1:01:38
  And so I think you do what you can to minimize your exposure to your dollar, to traditional assets. If you have an IRA or a four zero one ks, you can roll it into a self directed IRA, purchase physical precious metals with it. The key to the precious metals IRA is the clause that allows you to take an in kind distribution. It's a taxable event. You could liquidate your entire metals portfolio within the IRA and have them send the metal directly to you or take a distribution directly to you, pay taxes, so what if you can pull the metal out as an in kind distribution?
• 1:02:11
  It's a very cool deal. So again, stocks, bonds, real estate, profit's not a four letter word, and if you have it, time to cash in on it. And if you've experienced a little bit of a loss lately, you know, you got to ask yourself, is it worth it to try to wait it out and see if it falls even further? I don't know the answer to that question. I truly don't know the answer to that question.
• 1:02:37
  But I guess all I can simply say to you is that what you do is you prepare and you minimize your exposure to the dollar.
• 1:02:44
  Speaker 1: So it sounds like for obviously for the listeners on this show, I talk about this and for the people that you're reaching, there are is a small portion of people that are working to prepare themselves for this. And they're not only moving their assets into physical silver and gold, but they're also buying land, they're buying food supplies, you know, etc. To kind of, you know, at that point, you know, when the dollar is going crazy, it's collapsing. It's the person that bought all that food ahead of time that doesn't have to go out and pay $30 or $50 for a gallon of milk. But so it sounds like with this, with the collapse of stock market, basically everything tied to the dollar, that this is a Great Depression level event, if not worse, because the dollar recovered after that.
• 1:03:27
  And at that time, the government was actually trying to help people instead of now actively trying to destroy people. So
• 1:03:34
  Speaker 2: Right, exactly. Completely agree. And look at who the G7, our G7, our government, and the others that are part of this team. Let's say you're dividing up teams for a baseball game or a basketball game. Here's our team: US, Canada, Germany, Italy, Japan, and the European Union.
• 1:03:55
  What's the common thread? They're all insolvent. Every one of them is broke. All of them. They're broke.
• 1:04:00
  Japan is going Weimar Republic right now. US is 100 plus trillion in debt. Canada has broke and sold all their gold. Italy is insolvent. And the BRICS nations on the other team.
• 1:04:13
  You got Russia, South Africa, China, India, these are all the largest accumulators of assets, the biggest producers of commodities. And now you have Iran signing on, other countries that are signing on too, which is really crazy. Even like Turkey wants to sign on, Indonesia, Mexico, Thailand. I mean, these countries are all signing on to the Belt Road Initiative. And I think that we are being nice, completely and totally.
• 1:04:46
  I don't think our government can do a damn thing about it. And that's why you have to take your hand, your affairs into your own hands right now.
• 1:04:55
  Speaker 1: So we had this a lot of questions that people have asked ahead of the show, and also we're gonna take some questions live from the audience, and we'll be doing the q and a on Rumble and YouTube and Facebook, etcetera, because this is such an important topic. One of the biggest questions that I've seen come up is, you know, the people that have worked hard and gotten out of debt, and they've saved money, and they say they've got their all their money in stocks or four zero one k, etcetera, or even in a savings account somewhere, versus the people that still have debts the banks are holding. As I understand, the people that have their money sitting somewhere when it's tied to the US dollar will lose out because the dollar will then bottom out. But what about people, even like myself, you know, I my wife and I bought a new house less than a year ago, and luckily, we locked in a thirty year rate at say three and a half percent. But, you know, we the we still the bank still owns the majority of the debt on for our home.
• 1:05:48
  So, you know, what happens for a lot of people? Should someone go take out a new loan right now if you can get it at a cheap rate? Happens to someone like me that has a house that, you know, I still owe the bank on?
• 1:06:02
  Speaker 2: Well, can't you can't take out a new loan right now because interest rates are too high. And this is what will make people not want to sell their house, even if they want to cash in on what is a high value market right now, where are going to go? And then when you go, you're to lock into a new mortgage that from 3 and a half right now, you go try to do it, you're going to get in at 6 and a half. So your cost is doubled. So this is what happens as rates rise.
• 1:06:34
  Real estate gets much less affordable. My great grandfather in Williston, North Dakota, they lost their house in the Great Depression, and they only owed $2,000 on it or whatever. That was a lot of money back then, but they lost it to the bank in that exact scenario. In a depression, or a massive deflation or depression, he or she who loses least wins. And everyone loses in that environment.
• 1:06:59
  And the problem with having debt, and that's why I say get out of debt, is when things get really bad servicing that debt becomes a problem. But in general, 3%, three point five % mortgage is free money. The 9% inflation year completely and totally free money. If you were able to service that debt, then the answer is no. You have to live somewhere and you have a good deal.
• 1:07:23
  The only other option is to rent, I guess. Because you go try to take out a mortgage right now, your costs will be double in the exact same house.
• 1:07:32
  Speaker 1: How do you think this will affect other currencies? Now granted, you know, the ruble, the Chinese yuan, etc, are a different basket. If I had someone that messaged me on Telegram saying, hey, look, I'm over in Europe, what's going to happen to the euro when this when this if and when this unfolds?
• 1:07:52
  Speaker 2: Well, the dollar is the foundation of every currency on the planet. So, you know, when it happens at first, I'm sure it will bring a lot of other countries down with it, at least for a time being. And this is why, for example, you look at a lot of the countries in Europe that are part of the European Union, but have their own currency like Turkey, I believe Turkey, Poland, Hungary, Czech Republic. These countries have massively increased their goal 60% or more. Some of them have gone 10x from last year.
• 1:08:29
  So you have all of these countries that are not tied to the euro, but are in the European Union. They see the writing on the wall maybe clearer than the European Union countries do. And they're protecting themselves as well. The countries that are more Western reliant would be in big trouble. This is why I tell people when they say, yeah, I'm moving to Costa Rica, or I'm moving to Panama or wherever, I don't want to be in The US anymore.
• 1:08:57
  And I say, well, when the shoe drops, you want to be the wealthy gringo in a nice house. When after all it was the West and The US that is to blame for the majority of this pain. I don't know that that's the right answer either. I mean, I think we all have to, in the West here, coalesce as a group and come together and do what we can to, you know, I mean, it's not the end of The United States, but I will tell you that you go back through history and just about every world reserve currency from the 1400s on has roughly a fifty year lifespan. Well, you know, you close the gold window in 'seventy one, rendering the dollar fiat, we're living on borrowed time.
• 1:09:40
  My feeling is that, and Zoltan Pozar, and people should read some of his writing, he used to work for the New York Fed, he's a repo market expert, says we've entered Bretton Woods III, a system that will be dominated upon currencies backed by commodities. Well, there you go. I mean, would you rather own a currency backed by nothing but debt or one that is backed by gold? Now, if I had to guess, they will all pledge gold and they will peg it to to they'll pledge it to a system and they'll denote it on a distributed ledger on the backs of the success of the new digital yuan. So all of these countries will say here's our gold, here's our new BRIX currency, we're using the new digital yuan technology which has worked flawlessly to issue the currency and to show the immutability and the veracity of all the gold we've all pledged behind our currencies.
• 1:10:32
  They won't make it convertible, those convertible currencies convert, but they will make it, I believe, a commodity backed or gold backed currency. After all, it is tier one. And I think they'll, you know, if they only tethered 20% of it to the currency, 20% back, and it's still, it's back, it's tethered. They can't continue to increase the money supply without increasing their gold supply. And this is, I think, where we are heading.
• 1:11:00
  And when that happens, the West will have one or two options, either to just default and be isolated and be more of internal domestic economy, not a globalized one. Or they will do the same thing, and after the Great Reset, they will issue a central bank digital dollar, and they'll try to peg it to the gold held at supposedly the 8,300 metric tons that we have held at the Treasury and at Fort Knox. And in that environment, you'd have to see gold many times what it is right now in order to sufficiently do it. Maybe it goes to ten or twenty thousand, and then it's pegged into a new system and never comes down. I don't know.
• 1:11:43
  I mean, this is how you could get wealthy owning gold, but be careful what you wish for, because when that happens, it's not going to be fun to put on a nice outfit and a Rolex watch and drive in a nice car to the steak restaurant. Not going be fun to do that when people are suffering and not even be fun to walk out of a grocery store with a shopping cart to your car without looking both ways and a gun in your hand. I hope it doesn't become Mad Max like that. But, you know, I mean, how bad can things get if the dollar is dumped as global reserve and the dollar absolutely collapses? And this is where Klaus Schwab says, you'll own nothing and be happy because if someone thinks they're worth $5,000,000 in stocks, bonds, and real estate, and they're dollar holdings, and all of this happens at once, what are they worth?
• 1:12:26
  It's the great equalizer. You bring everyone down to a common denominator. That's where they'd all be like, damn, I don't ever want to own another thing again. I'm happy to rent it. Screw it.
• 1:12:34
  I'll easy and meager. That's what he's talking about, I think. And I never could figure out how it could happen. Well, here's how it happens without blaming the West and blame everybody else. And it's not a pretty picture.
• 1:12:46
  I hope I'm wrong. I'm just trying to bring a perspective to people when they think the Fed is going to do anything to fight inflation. They're not. They won't. And they're proving it right in front of us.
• 1:12:56
  They will do what every other politician has done throughout all of history, and that is choose inflation and printing over austerity and tough decisions.
• 1:13:04
  Speaker 1: So it looks like if you know, with the pattern events that you laid out, that the US dollar is entering into, it's on life support right now with an incurable cancer, right? That it almost can't be undone. With the OPEC announcement, with this collapse happening, you know, I that you you don't have a crystal ball, but when do you see are we looking at, you know, is this three months? Is it three years? Is it ten years?
• 1:13:33
  I mean, because right now, we still have a window. And I talk a lot about this on my show with as it relates to food security. Right now, you can still go to Costco and buy a hundred pounds of flour for a reasonable price. Six months from now or say next year, once the you know, this year's farming losses, once they really hit, you lose that window. So right now, we still have a window to act in ways to, you know, prepare and secure our futures.
• 1:13:58
  But when, where, how long do you think that window is going to last for?
• 1:14:02
  Speaker 2: I mean, did anyone see the baby formula tampon shortage coming? I don't think so. Did anyone see the toilet paper shortage coming two years ago or bottled water? I mean, most this country is just in time delivery, just in time business model, where especially the perishables. You can't have perishables sitting on a shelf for a long time, so it continually rotates.
• 1:14:30
  Look at it this way. How much credit is involved in bringing a loaf of bread to the market? Think about this for a second. When this all breaks down, you'll see credit just evaporate, right? But let's talk about how much credit it takes to bring one loaf of bread to the grocery store.
• 1:14:46
  Well, first you have the farmer who's on credit to buy his $700,000 combine and the seeds and the diesel fuel to plant the wheat and to harvest it. Then he gives it to a trucking company to bring the wheat to the flour mill. Well, the guy that owns the trucking company is on credit because he's got a bunch of cars and fuel and trucks and fuel and employees, so he's utilizing credit. And they bring it to the grocery store, to flour mill, which is on credit, to run their operation. And they make the mill, give it back to the trucking companies on credit, who brings it to the grocery store, who buys it on credit.
• 1:15:23
  If credit dries up, what do the grocery store shelves look like? And that's kind of the problem, especially as everyone is losing in this environment when rates rise And things become more costly and assets start to evaporate. So the worst thing anyone can ever do is assume the window is wide open. Titanic's people died on the Titanic for other reasons, but one of which was they thought it would never sink so the life rafts weren't ready, or there weren't enough life rafts or whatnot. And so you have to be prepared.
• 1:15:59
  You have to be reluctantly prepared proactively, and hope you never need to use it. And that's why I talk about coal in the respect that I hope I never need to use it. If I do, I'm damn glad I have it for an emergency. Maybe it's an opportunity when things settle down and you're getting values all over the place. And if not, I give it to my kids.
• 1:16:19
  But the whole I mean, it's like insurance. You pay your homeowner's insurance, you come home and your house didn't burn down, you're like, shit, my house didn't burn down, and I just paid my premium. But that's the way it's got to be. You have to realize that you prepare in this respect, hopefully that you never need to use it. But if you do, you're damn glad to have it.
• 1:16:40
  What's the worst thing that would happen by transitioning some of your fiat, which is really under stress, into gold and silver, which have been wealth for five thousand years. So I agree that it probably won't happen tomorrow. But I don't know how wide that window is really open. And I don't know, look, everything I've ever said as a company for thirty years, almost all of it's come true. Almost.
• 1:17:06
  Not this, but other things that we've talked about. And that's because we root our direction or we formulate a hypothesis by mathematics, economics, and logic. We're never even close to right when the timing is going to be. Although the last year or so I've called a lot of these things, you go back and listen to my podcast, I've been saying these things for over a year, that this was inevitable because it's becoming obvious and it's happening faster than I would have dreamed. But when you root your arguments in mathematics and logic, it will come true.
• 1:17:40
  Don't know when. But we're living on borrowed time. That's all. They've kicked the can down the road so far that one of these days the can isn't going to move.
• 1:17:49
  Speaker 1: So that actually plays into one of the other questions that I'm seeing a lot. And I've got it specifically. Ann R. On Rise and Lavon Fritz on Facebook asked both basically the same question. How do I actually use silver or gold?
• 1:18:01
  If you have a little gold and silver as an average person, what do you actually do with the precious metals? I think this is probably looking at after the dollars having a death spiral in that situation. Like do you show up somewhere and say here's a silver coin? Or how do you see that playing out?
• 1:18:17
  Speaker 2: How do you use dollars that nobody wants? What do you do with stock certificates? What do you do with the, you know, so I would say the what if questions are always very difficult to answer, but I'll give you one answer that I was told by my father. In 1980, I was 10 years old, but that was in the height of the oil embargo, 'seventy nine and 'eighty. And there were gas stations in Minneapolis that would take one silver dime, a pre-sixty 5 dime, which at the time with near $50 silver would have been worth $3.04 dollars Much more than the gallon of gas.
• 1:18:56
  But they would accept those silver diamonds for a gallon of gas. And in an environment where no one wants dollars, having options when no one else has any, I think would serve you very, very well. In the respect that, you know, there will have to be a medium of exchange. And until the dust settles, why not fall back on a five thousand year track record of gold and silver being used as a medium of exchange than having dollar bills that no one in the world wants. What else are going to trade with?
• 1:19:32
  So I think you have options when others have none.
• 1:19:37
  Speaker 1: So here's a good question. This is from mom1776 who says around Rise TV says, let's say I have about $75,000 in cash, what percentage should I use to buy gold and silver?
• 1:19:50
  Speaker 2: I would work backwards from that. And I would say, what exposure do you want to a currency that is $130,000,000,000,000 in debt at the end of its Kensian rope? A trillion seconds ago being thirty one thousand six hundred and eighty eight years ago. Work backwards. If I told people what I really believed, I'd lose credibility.
• 1:20:10
  I mean, I'll put it to you this way. I've been 100% more or less invested in gold for thirty years. I've missed out on a lot. I missed out on Bitcoin. I missed out on a lot of the rise in the S and P.
• 1:20:22
  But the funny thing is, in the Dow, if you go back over the last thirty years, gold has outpaced the S and P. Since February, for sure. Go back to February, and even beyond that, gold has outpaced just about everything, even now Bitcoin, it's outpaced them all. It's the turtle, it's not the hare. I own some mining shares, I own precious metals.
• 1:20:48
  And I own one of the nation's largest precious metals company. I am not the poster child for Finance one hundred one. My curse, as someone who immerses himself in economics every single day, is that I see things from a macro perspective long before they happen. I'm the classic little boy who cries wolf. But do not forget the last page of the book, the wolf comes.
• 1:21:13
  I see the wolf coming, clearly. But this is a very high stakes game run by some very nefarious characters who are doing all they can to, you know, milk as much out of the system as they possibly can. So, I don't know. I would ask yourself, what amount of money are you prepared to lose by not being in gold and silver in an environment where everything collapses? So you definitely want to have cash on hand so you're not cash poor.
• 1:21:45
  I think if I had $75,000, I'd put at least 10% of it in the tens and twenties bills to keep them at home. I would put a good portion of that into silver and gold, and I would put the rest into protecting my family with physically protecting them with a firearm. Didn't know how to use it. I would buy food. I would buy water.
• 1:22:08
  I would try to get out of debt as much as possible on any variable debt. Fixed rate at under 4% is fine. And do the best I can to prepare for an event that hopefully never comes. And I promise you that, you know, you can always donate food to a food shelf. You can always drink your water.
• 1:22:28
  You can, you know, as with a gun, hope you never need to use it. But if your window breaks at four in the morning, you need to reach for a four iron or your gun. So these are the things, unfortunately, that I think we need to prepare for. And, you know, when you talk about 75,000 in cash, it's losing, even based on their line CPI numbers, 9% purchasing power per year. So next year that $75,000 is worth 66,000 And in purchasing power, and the year after that, that 66,000 is worth 60,000.
• 1:23:05
  So in two years, you've lost, in terms of purchasing power, 20% of your purchasing power. And that's at the current rate of inflation. So anyways, I don't know. I think you protect and prepare, and to whatever degree that means you've got to get your house in order. And after you've done that, you then buy some gold and silver, and be very thoughtful in the way that you accumulate it so that it is there for you if there is an emergency that you have the proper form of it in order to transact if need be in an efficient manner.
• 1:23:43
  Speaker 1: Here's- That's what
• 1:23:44
  Speaker 2: we help people do.
• 1:23:45
  Speaker 1: And that makes perfect sense to me. And that's often how I respond to, is it's hard to say, like the first questions out of my mouth is, do you have food? Do you have water? Do you have, you know, because if you have none of that, and you've got a safe full of gold that you don't have more than three days worth of food, that's not gonna be a very good situation. Right.
• 1:24:03
  Here's a question from Jeff Gibson on Telegram who says there may be a financial crash coming this year, but this has been predicted for decades. I remember how Lindsay and others, I'm in the early seventies, hawking their books based upon this type of fear. Are we overreacting? Is there a chance this won't happen even though all the signs point in this direction?
• 1:24:23
  Speaker 2: Sure. I mean I say in all these interviews, hope I'm wrong. I really do. I hope I'm wrong. Can we pull a rabbit out of the hat?
• 1:24:32
  Yeah, maybe. I think we live in a world of no guarantees but of probabilities. And I think the probability of having to pay our bartab is pretty strong. I mean, you can't borrow your way to prosperity and print your way to prosperity. We used to be the engine of manufacturing in this country.
• 1:24:55
  We don't make anything anymore. And so, you know, this country is ill prepared for what's coming. We're only 65% of the country is living paycheck to paycheck, where over half the country can't write a check for $500 This is not a country that is prepared to I mean, look at the labor participation rate. It's ridiculous. People think they want to get rich by trading bitcoin and day trading.
• 1:25:19
  No one wants to work anymore. Are we prepared to dig ourselves out like our grandparents were during the World War II era? Where 18 year old kids were going over to proudly and patriotically defend liberty and democracy. We're so far removed from that generation that I don't think we're prepared. You know, I'm not trying to equate myself to that generation.
• 1:25:49
  I used to talk to those fellows and ladies all the time when I started this, and there's nothing like those people. They would say, bang, it was done. I'd get a check the next day and make their word it was their bond. But I will say this, is that I look at my work ethic versus, you know, the younger kids these days, even my children. I mean, I've been doing this since I was 19 years old.
• 1:26:14
  We come from nothing, my family. My company's name is Miles Franklin. My dad's middle name is Miles, and his best friend who loaned us $60,000 on a wing and a prayer, middle name is Franklin. We literally come from nothing. And built a company that's done 7,000,000,000 in sales without a customer complaint.
• 1:26:34
  And it wasn't easy. I mean, since 2020, I work fifteen to eighteen hours a day, six to seven days a week. And that's what it's going to take to get this country back in the right direction. People getting off their ass, getting off the couch, and being productive. We've been paid for two years to be unproductive.
• 1:26:53
  We have blown up assets in the money supply. We've pissed off the world. Our administration is woefully, inadequately prepared to deal with what's coming. And I think so is the public. So could it?
• 1:27:08
  Could we skate by? Yeah, sure. I suppose we could. If Trump were in office, I think we would. And say what you want about him and the way he communicated.
• 1:27:18
  Maybe he could have done better, but his policies were a hell of a lot better than what we see now. And their reaction to these policies is they spend millions and millions of dollars on manpower on Congress to do this stupid ass September 6 inquiry instead of trying to fix what is destroying this country, like inflation and high gas prices and divisiveness. I mean, so are we prepared? We're a different country than we were back then. I wish I didn't feel we Look, like I said, I have children.
• 1:27:56
  I love America. I love the fact that I've worked my ass off for thirty three years to get to a point where I finally achieved some success. I don't even like using. I don't like spending it. I don't like going out to nice dinners.
• 1:28:10
  These things are starting to happen. So I don't even know what I'm trying to get at other than to say I don't think this country is prepared for what's coming. And I think because of that, it only increases the chances that it happens.
• 1:28:22
  Speaker 1: Yeah. So how are you on time? It's 03:30. There's still a lot of questions and
• 1:28:28
  Speaker 2: Let's do it.
• 1:28:31
  Speaker 1: Okay. So this is actually one of the questions that I had that I had written down to ask you earlier is, why don't you think many people are talking about this? Like, I have friends and family that are very successful and as entrepreneurs in the stock market. And they're even they're they're very conservative. They watch Fox News.
• 1:28:48
  They just they don't see any of this. And even one of the questions I see from a lot of the people when I ask is they're asking, you know, why are my financial advisors not talking about this? You know, I have family that that they've been watching my show, and they go to financial advisors that then they say, well, they said just to keep it in stocks and bonds or whatever. It's not safe to put it into gold. So why is it that the entire mainstream narrative and even the politicians that we think we can trust aren't talking about to me what seems to be the biggest crisis facing our country since its founding?
• 1:29:25
  Speaker 2: How old are you, Seth?
• 1:29:28
  Speaker 1: What's that? How old are you? 36.
• 1:29:31
  Speaker 2: Okay, so you're still you could be my kid. I'm 51. You could almost be my kid.
• 1:29:36
  Speaker 1: That's technically I could be.
• 1:29:38
  Speaker 2: Technically I could. So you probably won't know, you may or may not know the answer to this question. The question is, what did financial advisors used to be called? I started Miles Franklin in 1989 before the internet. My daughter was born in 1994 with my second child, and that was the day Facebook rolled out, 02/04/2004.
• 1:30:03
  So, you know, I started this way before social media, way before I remember my dad coming and saying he just bought a cool thing for a company in Japan. It's called a fax machine. So, I mean, you may not remember this, but in the 90s, before the internet, do you remember what financial advisors were called? They were called stockbrokers. Stockbrokers would make a percentage of every trade.
• 1:30:30
  You do a million dollar trade, they'd make 1%, they'd make $10. So they got rich on trade, on volume, then came the internet. And the internet introduced companies like Scottrade and said we'll do that same trade for $9. So stockbrokers became immediately obsolete. And I used to be a financial advisor a long time ago.
• 1:30:53
  And the hard part is passing the Series seven exam. And the difference between a trader who can trade securities, Series seven license, and a financial advisor is one test, I think if I remember right, it's a series 25. That is 100 questions or so on ethics, how or how not to screw somebody. It was the easiest test I've ever taken. Now to be a certified financial advisor, it's a two, three year long process of rigorous testing and studying, and that's different.
• 1:31:28
  But just a financial advisor like Edward Jones, it's a series seven and a series, I think, 25. It wasn't hard to obtain. And most of these people learn more and more about less and less till they know everything about nothing. Most of these people are your age or maybe 10 years older and have never lived through anything but prosperity in general. Yeah, they lived through 'eight, which was quick lived.
• 1:31:53
  Yeah, they lived through some downdrafts. But in general, we've all lived under the premise that it's our birthright to live better than our parents and our grandparents did. And when you have the world reserve currency privilege, and you can print your way out of anything, and you can control the markets the way that the West have for a very long time, yeah, it's easy to say put all your money in stocks and bonds and close your eyes. There's a sixtyforty mantra that you find most advisors will say 60% stock, 40% bonds. But that goes well past just the advisors, the pensions, the insurance companies?
• 1:32:36
  Where do you think that the insurance company invests their money, the money that they take in, in premiums, in order to pay back a return? They put it in stocks and bonds. What about the pension funds? Where do put Stocks and bonds. What happens if the shit hits the fan and stocks and bonds collapse as interest rates rise?
• 1:32:53
  Everything blows up. And that's the thing. But financial advisors now, they don't make their money on trades, right? They make their money by keeping you under the umbrella. And so if you call a financial advisor and say, Listen, I want to put 20% of my money into physical metal.
• 1:33:10
  No, you don't want to do that? You can buy an ETF. How about that? Or we can do something else for you. You don't have to worry about holding that stuff at home.
• 1:33:18
  It's a danger. And it's not a smart place to put it, right? Because that 20% is now taken off their plate forever. They know it ain't coming back. And so you just took a chunk of their income.
• 1:33:31
  So human nature would be such that they want to find every possible argument against doing that because financial advisors make money by keeping you under management. Period. And that's really the biggest reason. Not only that, financial advisors, most broker dealers would view precious metals as a conflict of interest. So they have never really thought about it.
• 1:33:57
  And when you're selling stocks and bonds, you better be one deep thinker, not bonds. Non traders get it. But stocks, a financial advisor. You better be a deep thinker to start digging into geopolitical events and things like the dollar. They don't have any reason to research like I do.
• 1:34:17
  They don't see it coming. They just know that stocks and bonds have always worked over the last thirty, forty years. And look, I started in this industry in 1990, interest rates were at 9%, and I watched them go all the way down to zero, basically. That's one hell of a bull market in the bond market as falling interest rates are inversed to rising bond prices. And at the same time, when you have these low interest rates, you stimulate people away from fixed income into speculation in the stock market.
• 1:34:48
  And then you keep interest rates low and make money easy and the hedge funds can borrow money at 1%, plow it into all the equities, jack up the valuations even if they're not justified at sky high PE ratios and nothing behind it. But all of that money plowing into it, this free easy money, low interest rates creates distortions. And so everyone will say, look at what it's done. I would say to you that I've been around the block long enough to know some financial advisors, most of them are much older, very successful, and they tell their clients it's time to do this. They've already made their mark.
• 1:35:28
  I believe that the things that we're talking about require you being your own financial advisor, that your gut is your best financial advisor. And I think most financial advisors will not get it. They think the road to retirement is paved with stock certificates, mutual funds, and bonds. And they were, but all things come to an end. And even the best laid plans need to be reevaluated.
• 1:35:57
  And, you know, I think sometimes your gut is your best financial advisor. Most of us go through life and say, Shit, I knew I should have done that. I knew it! Why didn't I trust myself? Whether it be about relationships, business decisions, friendships, whatever.
• 1:36:17
  I think that the answer to that question is that it's self serving financial advisories that don't want to lose money, and don't want to lose that. You know, it's not easy to get money under management. You've got to get them in the door, you've to get them to trust, you've got to get them to write out a check. It ain't easy to do. So when you start losing people to that, it's a frightening deal to contemplate.
• 1:36:41
  So that's why they're going to poo poo it at every turn.
• 1:36:44
  Speaker 1: Now I want to just ask you quickly, because I know that you make yourself very available. I called you almost instantly, you picked up and we talked. So for people that are watching that want to learn more about you, your company, even to speak to you, get some advice from you, how can they go about that?
• 1:37:02
  Speaker 2: So we are building a new website that'll be rolled out in August. Our website is kind of crummy. I closed down my online store three years ago because of continual attempts at fraud and hacking, and I just got tired of it. And I've always felt that metals are better served for the consumer offline, so to speak. Analog in the digital world we've been, I guess you could say.
• 1:37:29
  I realize that because of my I've been all over YouTube for two years. I've done thousands of interviews for three years now. A lot of people say, well, know, I'd love to buy from you Andy, but you don't allow online purchasing. So we've built a pretty fancy site that's almost done. But I believe where we are heading, Seth, that relationships are going to be really important.
• 1:37:54
  And you never realize how important a relationship is until you call someplace with an issue and you go to voicemail or voice prompt help. And most people know what that is like. That's not us. And accessibility when you're offline is very important. You're right, I did answer right away.
• 1:38:14
  I didn't know who you were. It said, call in from Ohio or something. I answered it. Rick Rule, if you know who he is, he's in this industry, a legendary investor. I've worked with him for a very long time.
• 1:38:26
  He used to be the CEO of Sprott USA, and I always speak at his conferences. And one day he came up to me at his conferences and said, Andy, I just got out of your booth. Are you out of your effing mind? I'm like, what? I'm kind of taken aback.
• 1:38:39
  He says, you put your cell phone number on your business card. Are you stupid? I'm like, well, I mean, how else are people who can get ahold of me if I'm not in the office? And so accessibility and accountability is one of our strong suits, always has been. And that's why I tell you I've been working sixteen, eighteen hours, seven days a week.
• 1:38:57
  I really have. So the way that I got to the point where my wife basically said, I will chute you in your sleep if you don't change this a little bit. So here's what we are asking people to do right now. And that is to send an email for the time being to infobilesfranklin. Infobilesfranklin.
• 1:39:22
  Speaker 1: Dot com, right? Miles as in like, you know, drivingmilesfranklin dot com.
• 1:39:27
  Speaker 2: What Seth sent me if you want. Ask me any questions. Ask for a current price list. We update our price lists currently about twice a week. Soon it will be all online.
• 1:39:39
  But our prices you will find are probably better than 99% of the companies in North America. And we are the only major licensed and bonded precious metals company in North America, or one of the very few that are. And the only way they are is if they're doing business in Minnesota because it's the only state that mandates it. Which means that for the consumer in any state in America, you're working with a company that is bonded and licensed and background checked, it's the safest transaction in a federally non regulated industry. So send us an email at infoMylesFranklin, any questions you like.
• 1:40:17
  Seth sent me. And say, Hey, here are my questions. We'll answer them either myself or one of my brokers. And just so you know, all of my brokers, every one of them, I go back to elementary school, junior high, high school with, every one of them, except for one who is the best friend of one of my dear friends in Colorado. So all of our brokers have deep, deep family ties to my family.
• 1:40:46
  And that makes us, I believe, more like a family, all of us, like a family, including my brokers who don't share my last name. But one of us will return your email immediately. We'll answer your questions. We'll send you a price list. And if you ask to be called, put your phone number on there, we'll call you and do it in real time.
• 1:41:06
  But we'll make it a good experience first and foremost, answer any questions that you have and send you a price list that is up to date that will be pretty tough to beat for most companies in the country.
• 1:41:18
  Speaker 1: Thank you for that. Here's actually an important question. Literally a segue to what you're talking about. So Jackie Bonner says, and she's from Telegram says, so what are we supposed to do with our four zero one k if we can't touch them without major penalties? And what about the 401ks for people who are still working?
• 1:41:34
  Speaker 2: Well, if you're working, you're pretty much out of luck unless you go to the administrator and ask them. Sometimes they'll let you roll a portion of it into a self directed IRA. If you have a four zero one ks and you're no longer working, there will be no penalties if you transfer it or roll it over into a self directed IRA. That's a tax free move. Then you purchase precious metals within the self directed IRA.
• 1:41:56
  There's a handful of custodians in the country that allow this. We can point you in that direction. You can buy common stock. You can buy whatever the heck you want. But you can also buy a physical metal held within the IRA at a precious metals depository.
• 1:42:10
  And we will recommend the depositories. The custodians will give you a list of 12 depositories you can use. There's two that I would recommend for various reasons. Most of them centered around segregation of IRA metal that they segregated in the client's name. So in essence, if you have a four zero one ks, you're no longer working with that employer, whether you buy gold or not, get the help out of the four zero one ks and move it into a self directed IRA so you can direct it into whichever direction that you want.
• 1:42:38
  There's no 10% penalty on that. There's no taxes. That's tax free rollover. Then you buy precious metals, you put them into the IRA. And if you want to start taking distribution, which is a taxable event, or liquidate it, which is a taxable event, if you're under 59.5, comes with a 10% penalty.
• 1:42:57
  Okay, you can do that. But maybe you just want to let it grow and then you all of a sudden you're 59.5, you start pulling out metal in terms of distributions instead of cash. It's an in kind distribution. Very, very neat process. So in essence, if people have 401Ks that they're no longer employed or IRAs that they want to shift to gold, we are very, very adept at doing that.
• 1:43:21
  And silver and platinum, we're very adept at doing that. If you are with a current employer in a four zero one ks, the only option you have is go to the administrator and say, I want to move a portion of it. Can I? And maybe they'll let you. Some of them do.
• 1:43:35
  Most don't.
• 1:43:37
  Speaker 1: So here's a fun question for you. So a lot of people are asking about NESARA and JESARA. I'm not sure if you're familiar with that. But basically, it's the idea that there's this it's a little bit utopian that once the Fed collapses, that the regular folks will be given back all these the stolen funds, all the gold and stuff under the Vatican and everything will be redistributed. I'm pretty skeptical even from the reason alone of what happens if you give everyone a million dollars when no one works anymore.
• 1:44:04
  Right? So what are you do you have anything to say about that?
• 1:44:08
  Speaker 2: I don't think it'll happen because every thing that they take from someone else is someone else's asset. So, you know, I don't think it happens. I think it happens perhaps as far as central bank debt is concerned, the great reset, the debt is gone. But I don't think that has anything to do with the redistribution of wealth. You're right, it would just create bigger problems in and of itself.
• 1:44:33
  And so no, I don't think it happens on large scale. The only thing that I could see happening would be some sort of a government debt forgiveness type of thing. But no, I think it's pie in the sky, to be honest with you. And you can't redistribute. And that's just classic redistribution of wealth and taking someone's asset and giving it to someone else.
• 1:44:57
  In other words, someone's debt is someone else's asset. That's what I'm getting at. And so I don't see it happening, but I do think you could have a function of a very small example of it. And I think it would be more focused on government debt than it would be where the governments forgive each other than it would be amongst individuals or corporations or whatnot. So yeah, I'm a little bit familiar with it, but I think it's more I'm more skeptical of it as well.
• 1:45:28
  I think it's unlikely that something like that happens and I wouldn't be resting or certainly making a plan of action based upon that type of amount.
• 1:45:41
  Speaker 1: Alright. So here's a question, and we can make this the last question. We're going on on almost two hours here, has been fantastic. And I really appreciate you giving us your time.
• 1:45:49
  Speaker 2: Oh, pleasure's been This
• 1:45:51
  Speaker 1: is from Thunder and Prep Daddy Prep, two great screen names, who said that they're concerned about the gold and silver from the perspective that does the guy is the government gonna show up and take that at some point based upon the Gold Reserve Act of 1934? Is there is there any concern that you have that, you know, when things get really rough, that happens?
• 1:46:13
  Speaker 2: Let's do it so you can probably see this one better. I don't know if you can see that way up there. President Roosevelt up there and that's the executive order up in the top corner where he took gold as a gold coin and the gold bills. Interestingly enough, the gold bills back then used to say payable to the bearer on demand in gold coin, and now it says in God we trust. So when Roosevelt, in his first act of office in April of nineteen thirty three, confiscated gold, everyone owned it.
• 1:46:56
  It was currency. It was legal tender. Those bills were exchangeable for gold coins. A $20 gold certificate said, right on it, payable to the bearer on demand a gold coin. You go to the bank, give them a $20 bill, they give you a $20 gold coin.
• 1:47:12
  This was prior to 1933. So it was easy to confiscate gold back then because everybody owned it. Now, as you heard me say on Mike Adams' show, it is estimated that from the Harvard Endowment Fund all the way down to Joe Sixpack, the average allocation of gold to the portfolio, The US financial matrix is one half of 1%. No one owns it. And so the unintended consequences of a government enacting Venezuelan style nationalization of assets, I think, would be completely and wholeheartedly unproductive.
• 1:47:51
  The backlash globally would only exacerbate the dumping of dollars and treasuries, and no one would ever trust us again if we were stealing from our people. But I have another angle to look at. How about you create a couple ETFs? One of them is run by the biggest crook on the block. That's JP Morgan, who paid a $960,000,000 fine for manipulating the metals market.
• 1:48:12
  Well, they happen to run and administrate the largest silver trust in the world, SLV. And how about you choose another really crooked bank? How about HSBC Bank, who is about as crooked as they get, and they're going to be the administrator of GLD. Now GLD is the third or fourth or fifth largest stockpile of gold in the world, if it's all there. And SLV, if it's all there, is the second largest stockpile, I think first or second, maybe only second to what JPMorgan actually holds.
• 1:48:45
  Talk about the ultimate fox and henhouse. Those two funds basically tell the public that you can never take possession of the metal. They allow possession to large entities who take what's called a basket. But I have been told that they have been refusing delivery of that lately. They're not allowing it.
• 1:49:04
  So how about and you're talking millions of dollars if you pull out a basket. Tens of millions maybe. But you create these two funds that go back to the financial advisor question, why doesn't anyone want to do it? Well, how about you buy an ETF, right? And GLD and SLV and all the funds and the advisors, they push people into GLD and SLV, which is a price representation of gold and silver, which keeps money under management.
• 1:49:32
  And how about on a Friday night, they shut it down and they transfer your million dollars in each account to you now have $2,000,000 in your money market account Monday morning. And you wake up and they say, What? We didn't do anything. We didn't nationalize assets like Venezuela did. We didn't enact eminent domain the way Roosevelt confiscated gold.
• 1:49:58
  All we did was close two funds where prospectus tells the average person that they can never take possession of the metal ever. Ever. You can't. And so how about you can still go buy gold eagles from Miles Franklin or from the company you mentioned earlier? Go ahead, go buy physical gold from Noble Gold.
• 1:50:16
  Go ahead, buy metal from Noble or Miles Franklin or any other company. It's legal. So this would give the government the ability to have their cake and eat it too. In other words, no civil liberties infringed, no laws broken, they're sitting on the second largest stockpile of silver in the world and the third or fourth largest of gold without knocking on people's doors who and if you own gold, you probably believe in the second amendment. And you probably look at patriotism a little differently than they did in 1933.
• 1:50:46
  And I would not want to be the IRS official knocking on those doors. And so instead, they have the two big commercial banks who are all part of the whole big scam that are administrating it, and it's wrapped with a pink bow on it. And it's all centrally located without inciting the global backlash that you would face by taking people's metals. So I don't think it happens. I think most companies that tell you it happens are trying to get you to buy those numismatic points back there.
• 1:51:25
  Because when gold was confiscated in 'thirty three, they talk about anything from that point backward would be considered rare and collectible in the future. So ultimately immune from a gold confiscation. So they're trying to get you to buy new Mucimatics. There are companies out there that thrive on that. And I sell them, but I'll beat everyone's price in the country.
• 1:51:47
  I love them. But not if you're paying a huge premium. And I'm not telling people to buy them because it's going to give you immunity from confiscation. May. I buy them because they're pieces of Americana, and they're amazing.
• 1:51:59
  And I think they offer better potential, but only if you get the right price. And they might be safe from a call in. But I don't think the government wastes its time. Look, the amount of gold that is out there would be less than probably a few hours worth of spending by our government. So it wouldn't make any sense to go and take people's gold and silver when look, I mean, I've been doing this for thirty three years, and most of the people I've met in my entire life wouldn't know a gold eagle if it fell on their foot.
• 1:52:28
  And so most people don't own precious metals. And so in 1933, when everyone did, it was a different thing. And now the unintended consequences would be, I think, ferocious in terms of the way the world looks at The US. And if our creditors feared that type of nationalization of assets after everything that's already happened, they would just run for the hills and we would be completely isolated. No one would ever trust us again.
• 1:52:54
  So instead they create these vehicles that center it all, that are held by commercial banks, that are part of manipulating it all, that can be taken according to the prospectus without violating any laws or civil liberties. And you can still buy physical metal in the land of the free. When communist countries like China and the rest of the world like Russia is telling their citizens, I mean Russia just removed the VAT tax on gold so their people can buy more. China has it's on the back of every bus and billboards. You go into a mall, it's all gold shops.
• 1:53:31
  You can go to a bank and buy pandas. They promote gold ownership. And that's why Alastair MacLeod, when he says there's 38,000 metric tons in China, Eighteen Thousand of which belong to the people, 20 to the state. That's what he's talking about. If we were to ever do something as idiotic as that, it would be game over in this country.
• 1:53:50
  There'd be much bigger problems to worry about. So I think you hope for the best and prepare for the worst.
• 1:53:57
  Speaker 1: Well, Andy, thank you so much for joining us today. I just want to remind people that if you want to get ahold of Andy, just email infomilesfranklin dot com. And also just one final message. This is from David nine eleven over on Rise. And thank you for bringing this up.
• 1:54:13
  Just a request for anyone watching to say a prayer for Doctor. Carrie Maday and Zev Zelenko. Carrie was in a bad plane crash and Zev is fighting for his life with, you know, with cancer. So they're both really in need of prayer right now. Both freedom fighters and patriots that are on the front lines trying to just help save our country from what it's going through.
• 1:54:35
  So just say a quick prayer for them. Andy, do you have any final thoughts or words for folks?
• 1:54:44
  Speaker 2: Trust your gut. Your gut's your best financial advisor. And I think it's time for people to do that. Take accountability. Stop deferring.
• 1:54:55
  You know, we've all accepted accountability for our actions from the time we were able to walk until the day we die. Except maybe the most important thing of all, our financial future and our retirement, we give that to someone else. And it's much easier to make decisions with, they call it OPM, other people's money, than it is with your own. Time to take accountability and trust your intuition and your gut, because we're deep entrenched and immersed in uncharted territory. And so financial advisors have no clue, most of them, as to where we're going.
• 1:55:33
  And they'll just fall back on traditional investments that are all inversely correlated to a rise in rates which are inevitable. And if rates don't rise, we're going negative. So, know, death by inflation or death by depression. Either way, it's time to take some accountability. And again, when they do send us an email at infoMilesFranklin, either Seth or Man in America sent me, and ask for a current price list.
• 1:55:59
  Any questions you have, if you want to be contacted, put a phone number, we'll do so. And Seth, you know, this has been great. And I'd love to come back on and pick up where we left off. Whenever you'd like to have me on, I think there's a lot to talk about. I love the live Q and A livestream that you do.
• 1:56:20
  And can count me in anytime, once a week, once a month, once a year, whenever you want me, I'll be here.
• 1:56:29
  Speaker 1: Great. Thank you. I also just want to remind folks, there were a lot of questions about the four zero one ks process and just give Andy an email, shoot him an email and his team can just answer those questions as well. So yeah, well, thank you so much. And yeah, I'll definitely have to have you come back on.
• 1:56:43
  Think that we're going to have a lot of events that would need some some narrative around them unfolding over the next few months. And I think those will make for some interesting conversations. So thank you again for coming. All the audience, thank you for being here. Thank you for watching.
• 1:56:59
  Just a reminder to make sure you're following me on telegram and truth social. And if you watch this video, and you're one of those people that's been trying to tell your friends and family, hey, prepare, you don't know what's coming, please share this video with them because I think that the information that Andy has presented here, hopefully can be enough to jar people a little bit to take some action to protect their wealth and to protect the future of their family. So, yeah. Well, thank you again, and until next time. Take care.