Latest / Kinesis Money / The Dollar Is Being Quietly Dismantled Ft. Andy Schectman - LFTV Ep 296

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The Dollar Is Being Quietly Dismantled Ft. Andy Schectman - LFTV Ep 296 · Kinesis Money

0:00
SPEAKER_00: You're going to be the big benefactor of issuing dollar-based stable coins backed by U.S.
0:04
SPEAKER_00: Treasuries.
0:04
SPEAKER_00: Thank you very much for supporting the treasury market.
0:07
SPEAKER_00: That interest is not transferable.
0:08
SPEAKER_00: What are you going to do?
0:09
SPEAKER_00: You're going to buy gold with it.
0:10
SPEAKER_00: Why are you going to buy gold?
0:12
SPEAKER_00: Because this is how you devalue the dollar.
0:14
SPEAKER_00: They now have to keep printing OECR.
0:17
SPEAKER_00: We've got this ticking time bomb talking gold with the one and only Andrew McGuire.
0:23
SPEAKER_01: Welcome to Live from the Vault.
0:27
unknown: Don't get comment.
0:29
SPEAKER_01: Well, this is a real pleasure today.
0:31
SPEAKER_01: It's been since March.
0:33
SPEAKER_01: I can't believe it.
0:34
SPEAKER_01: Andy Jackman, welcome back, my friend.
0:37
SPEAKER_00: Good to see you, Andrew.
0:39
SPEAKER_00: Always good to be back with you, brother.
0:41
SPEAKER_01: I'll tell you what, Andy, I've been obviously like you, I follow everything you do, too.
0:47
SPEAKER_01: And you're um a force, a force for good of this market because what you do is provide transparency for people.
0:56
SPEAKER_01: I think it's all about education.
0:57
SPEAKER_01: It's about being able to make uh take responsibility, make your own decisions uh based on things that you might not see yourself.
1:06
SPEAKER_01: And you're so well connected.
1:08
SPEAKER_01: Um uh you're on the wholesale side, uh, the retail side, you understand.
1:14
SPEAKER_01: I don't know anyone who knows this market better than you.
1:18
SPEAKER_01: So I I I it I I sat up and take notice when I think today, uh, I think you posted it's time to get back up the truck, I think you referred to.
1:30
SPEAKER_01: Back up the truck.
1:31
SPEAKER_01: Um, and you even mentioned a gold and silver price revaluation.
1:37
SPEAKER_01: Can you expand on that for us, please, Andy?
1:40
SPEAKER_00: You know, when we talk about a gold and silver revaluation or a gold revaluation, there's a lot of people talking about a gold revaluation because they brought Judy Shelton back into the fray.
1:52
SPEAKER_00: And, you know, I think that ultimately they do want to revalue gold.
1:56
SPEAKER_00: The question is, is it done by edict or is it done organically?
2:01
SPEAKER_00: And I believe that it would be far more beneficial to the government, to the system, for it to be done organically, even if synthetically.
2:13
SPEAKER_00: What do I mean by that?
2:14
SPEAKER_00: Well, the Genius Act goes into effect in January that says all money movement will be backed by short-term treasuries 95 days or less in duration, but the interest on said treasuries is not transferable.
2:27
SPEAKER_00: And so you look at a company like Tether, and and I will tell you right off the bat, I believe that the 81 plus billion in gold that has been delivered to COMEX this year, the almost 18 billion in silver that has been delivered to COMEX this year by the commercial banks, if you told me that the exchange stabilization fund, um, Secretary Bissent, who runs it, who has the authority through the exchange stabilization fund, if for national security, to bypass congressional approval, to leave it on the balance sheets of the banks, because the pushback is well, it doesn't, it doesn't leave.
3:03
SPEAKER_00: It doesn't leave.
3:04
SPEAKER_00: A lot of it stays there, some did.
3:05
SPEAKER_00: In February, when 39 million ounces of silver, Andrew got on trucks and drove away, 3 million pounds, 4 billion dollars.
3:11
SPEAKER_00: Who the hell is that?
3:12
SPEAKER_00: Everyone said.
3:13
SPEAKER_00: No, no, we don't want that.
3:14
SPEAKER_00: In fact, if we're going to accumulate the rest of the world is doing, we got to keep it quiet.
3:18
SPEAKER_00: How do we keep it quiet?
3:19
SPEAKER_00: Well, we leave it on the balance sheet of the banks, let it sit there.
3:23
SPEAKER_00: Do you think we worry about a COMEX default if we're the treasury?
3:26
SPEAKER_00: No.
3:27
SPEAKER_00: And the CME group says that they they work with central banks.
3:31
SPEAKER_00: So is it that outlandish?
3:33
SPEAKER_00: When less than 1% of contracts on COMEX ever stood for delivery, to see 24 straight months, 81 plus billion in gold and 18 billion in silver delivered so far this year that no one asks who the hell it is.
3:44
SPEAKER_00: Well, because it never leaves, it must just be the banks trading back and forth.
3:47
SPEAKER_00: But they never did it to this degree where they stand for delivery.
3:51
SPEAKER_00: They were rolled forward, they were cash settled, they've exited.
3:54
SPEAKER_00: Not, I want the number bars.
3:56
SPEAKER_00: I want the ability to take those number bars.
3:58
SPEAKER_00: And if you're the government, do you care if they sit on COMEX?
4:01
SPEAKER_00: No, you don't.
4:02
SPEAKER_00: You note, and it keeps them at arm's length.
4:04
SPEAKER_00: Now, if we look at Tether, how all of this would be revalued synthetically yet organically.
4:11
SPEAKER_00: Before I talk about that, let me just mention a couple things.
4:15
SPEAKER_00: Look at the people that are bringing being brought on along with Judy Shelton.
4:18
SPEAKER_00: You have David Zerfos, who was appointed at the same time to the Treasury as counsel, and he advocates for something called financial repression, which means keeping interest rates below inflation.
4:30
SPEAKER_00: So over time, inflation eats away at the real value of the government debt.
4:34
SPEAKER_00: What did Trump just say?
4:35
SPEAKER_00: He said, we are going to use inflation to help reduce America's national debt.
4:41
SPEAKER_00: They're telling us this.
4:42
SPEAKER_00: How about Stephen Meirin?
4:44
SPEAKER_00: Stephen Meirin, the architect of Trump's economic plan, um the architect of the Mira Lago Accord, who is at the Federal Reserve right now, filled the vacated spot, who advocates that the dollar's reserve status has made the dollar too strong, hurts American manufacturing.
4:58
SPEAKER_00: Trippin's dilemma.
4:59
SPEAKER_00: Where have we heard that before?
5:00
SPEAKER_00: Oh, that's right.
5:01
SPEAKER_00: Vice President Vance.
5:02
SPEAKER_00: We can't be, we need to question if, because of Trippin's dilemma, being the world reserve currency is wise anymore.
5:08
SPEAKER_00: How about Jared Bernstein, the knucklehead who couldn't under describe how treasuries were made, yet he was Trump's lead economic advisor, wrote a report called Dethrone King Dollar.
5:19
SPEAKER_00: We can't be the reserve currency because it's we've eviscerated our manufacturing base.
5:25
SPEAKER_00: So all of these things are happening.
5:27
SPEAKER_00: So why would any foreign government want to continue to hold our treasuries if we are openly going to devalue the dollar?
5:34
SPEAKER_00: This is where Judy Shelton's idea comes in, a gold-backed treasury.
5:39
SPEAKER_00: But before we get there, how would they revalue gold and how would all of this come into play?
5:44
SPEAKER_00: Well, look at Tether.
5:46
SPEAKER_00: And I think we need to look at Tether for a moment before we I explain that.
5:51
SPEAKER_00: But when you talk about Tether, uh, this is a obviously a cryptocurrency company that has bought more gold than anyone in the world over the last two years, with the exception of Poland.
6:03
SPEAKER_00: And um, the amount of gold that they're buying is ridiculous.
6:07
SPEAKER_00: The last six months of 2025, they bought on average, um, if you if you if you e if you analyze it out, they bought one 400-ounce gold bar, which is about$1.7 million every hour on the hour, 24 hours a day, seven days a week, for what amounted to six straight months.
6:25
SPEAKER_00: They bought literally more gold than anybody.
6:28
SPEAKER_00: Now, why would they do that?
6:30
SPEAKER_00: By the way, real quick, everyone knows that silver was classified a critical mineral in the U.S.
6:35
SPEAKER_00: Geological Survey deal in 2025, national security.
6:40
SPEAKER_00: We can import it without uh congressional approval.
6:42
SPEAKER_00: But what people don't focus enough on is that on March 20th, 2025, Trump signed Executive Order 14241.
6:50
SPEAKER_00: Immediate measure to increase America's mineral production.
6:53
SPEAKER_00: And section 2A explicitly names gold, along with uranium, copper, and potash as materials covered by the order.
7:00
SPEAKER_00: National security.
7:02
SPEAKER_00: And this is a critical mineral.
7:04
SPEAKER_00: And he said so.
7:05
SPEAKER_00: He told us so.
7:06
SPEAKER_00: So let's bring Tether into the mix.
7:09
SPEAKER_00: So from January forward of this coming year, the Genius Act says predominantly all money moves by stablecoin, backed by 95 or day uh duration treasuries.
7:21
SPEAKER_00: So you've done a couple things here.
7:23
SPEAKER_00: You've kind of neutered the dual mandate of the Federal Reserve, who controls the overnight lending rate.
7:27
SPEAKER_00: If any time money moves, Andrew, whether you buy a pack of cigarettes or a new house, you pin the front end of the curve to the ground by buying short-term treasuries.
7:35
SPEAKER_00: Okay, dual mandate dead.
7:37
SPEAKER_00: A lot of people think he's out to get the city of London, that he doesn't like what has happened with the traditional banking system.
7:43
SPEAKER_00: And that would be one way to start by neutering the Federal Reserve's ability to maneuver things with short-term treasuries.
7:51
SPEAKER_00: But by the same token, we now understand that that interest is not transferable, right?
7:55
SPEAKER_00: Okay, get it.
7:57
SPEAKER_00: So what has Tether been doing with all that interest?
7:59
SPEAKER_00: That's right.
8:00
SPEAKER_00: They've been buying more gold than anyone on the planet.
8:02
SPEAKER_00: They already own more treasuries than just about anyone but central banks.
8:05
SPEAKER_00: So they're buying gold.
8:06
SPEAKER_00: What else have they done?
8:08
SPEAKER_00: They've opened up the back end of their system because weren't they in trouble for a while?
8:13
SPEAKER_00: Yes, they were.
8:14
SPEAKER_00: They were in trouble with the Justice Department.
8:16
SPEAKER_00: Where'd that go?
8:17
SPEAKER_00: Hmm, gone.
8:18
SPEAKER_00: And now they've opened up the back end of their system to the treasure or to the Justice Department in fraud cases.
8:25
SPEAKER_00: And in fact, recently identified four wallets belonging to the IRGC.
8:29
SPEAKER_00: So they are now cooperating with Washington, cooperating with the Justice Department.
8:34
SPEAKER_00: And who is the CEO of their Genius Act compliant um division, none other than Bo Hines, who was Trump's crypto czar, his buddy, his confidant.
8:44
SPEAKER_00: So on one end, you have all this gold and silver being delivered to the COMEX, and no one has the I don't know what you call you, the stupidity like I have or the courage to say, this ain't right.
8:57
SPEAKER_00: Nobody stood for delivery, dude.
8:59
SPEAKER_00: Ever.
9:00
SPEAKER_00: Nobody.
9:00
SPEAKER_00: The COMEX was not designed for delivery, and yet we're seeing billions every month for 24 straight months.
9:06
SPEAKER_00: And no one thinks it's unusual.
9:07
SPEAKER_00: Well, no, Andy, because it doesn't leave COMEX.
9:10
SPEAKER_00: A lot of it stays there.
9:11
SPEAKER_00: Who cares?
9:11
SPEAKER_00: What if it's the Treasury Department who is trying to not telegraph what they're doing to the rest of the world, using the commercial banks as proxies so as to not have their footprints in the snow and to not have their balance sheet increase, right?
9:27
SPEAKER_00: We don't need congressional approval, but it would have to show up on the balance sheet.
9:30
SPEAKER_00: Not if they haven't taken possession yet.
9:32
SPEAKER_00: On the other hand, Kether, well, what if you had a third-party proxy who was in trouble, who's not in trouble anymore, who is cooperating with you, who we and we said, listen, Bo Heinz is gonna come chaperone all of this.
9:45
SPEAKER_00: Here's what we're going to do.
9:46
SPEAKER_00: When money moves, you're gonna be the big benefactor of issuing dollar-based stable coins backed by U.S.
9:52
SPEAKER_00: treasuries.
9:52
SPEAKER_00: Thank you very much for supporting the treasury market.
9:55
SPEAKER_00: That interest is not transferable.
9:56
SPEAKER_00: What are you gonna do?
9:57
SPEAKER_00: You're gonna buy gold with it.
9:58
SPEAKER_00: Why are you gonna buy gold?
10:00
SPEAKER_00: Because this is how you devalue the dollar.
10:01
SPEAKER_00: Period.
10:02
SPEAKER_00: It's not against the Dixie or the dollar index.
10:04
SPEAKER_00: It is to smash the price of dollar lower in the face of gold, just like Roosevelt did when he confiscated gold at 20 bucks, paid everyone 20, 67.
10:14
SPEAKER_00: It was a lot of money, 67 cents.
10:16
SPEAKER_00: When a dozen eggs were a nickel in 1933, everyone was happy.
10:19
SPEAKER_00: And then he immediately devalued the dollar by 40% so he could print a whole lot more money and made gold$35.
10:26
SPEAKER_00: That is how you devalue the dollar.
10:28
SPEAKER_00: So how do you reindustrialize this country, as Stephen Miren wants?
10:31
SPEAKER_00: As Trump keeps talking about, uh, as Vice President Vance says, because he can't do it with Trippen's dilemma, which says we can't give the world enough in the way of dollars through trade alone.
10:41
SPEAKER_00: So those countries have to sell their currency to buy ours, which creates a big discrepancy.
10:45
SPEAKER_00: Manufacturing goes to the cheapest place, like Cambodia or Vietnam, where you 10x your profits on your t-shirt company.
10:52
SPEAKER_00: Okay, how do you bring it back?
10:53
SPEAKER_00: Well, you wickedly devalue the dollar.
10:55
SPEAKER_00: How do you let gold go higher?
10:56
SPEAKER_00: Instead of making by edict, which they could, my good buddy Chris Irons wrote a report, quote the Raven, he said, well, if they made gold 155,000 by government edict, just like that, it's all gone.
11:07
SPEAKER_00: But that creates problems globally, right?
11:10
SPEAKER_00: Perhaps, unless maybe Qi and Trump speak together and who would have benefited the two biggest superpowers on the planet.
11:16
SPEAKER_00: But that's for another discussion.
11:18
SPEAKER_00: My point to you is it's problematic to decree it.
11:21
SPEAKER_00: And by the way, Trump would only need to tell, tell the cent, listen, um, I want you to uh I want you to tell the Fed that we're revaluing gold.
11:30
SPEAKER_00: And it's done just like that.
11:31
SPEAKER_00: The the Treasury would issue the gold certificates to the Fed, the Fed would credit every$4,000 increase in gold, the Fed would credit the Treasury General account$1 trillion.
11:41
SPEAKER_00: It's an accounting gimmick, it's massively inflationary.
11:44
SPEAKER_00: The Treasury does uh provides the gold certificates to the Fed who has collateral on the fiat value of the gold, not the gold itself.
11:53
SPEAKER_00: That belongs to the American people.
11:54
SPEAKER_00: But that's a problem.
11:55
SPEAKER_00: What if we let it rise organically, even though it's synthetic in nature by the movement of money?
12:01
SPEAKER_00: And every time they buy gold or every time the money moves, they take some of that interest that they can't transfer to the holder of the stablecoin.
12:08
SPEAKER_00: And they buy gold, goes higher, higher, higher, higher, higher, higher, slowly enough to not freak everyone out.
12:14
SPEAKER_00: Wasn't done by decree.
12:15
SPEAKER_00: The dollar goes lower, lower, lower, lower.
12:17
SPEAKER_00: Use soft default on the reserve status to reshore manufacturing, to work out the debt to equity imbalance, uh, and to give us a shot, a shot at producing more than we consume, because otherwise we're dead.
12:34
SPEAKER_00: We are 200 trillion in debt.
12:36
SPEAKER_00: We we don't make anything anymore because we've offshore dollar manufacturing.
12:39
SPEAKER_00: This is what I believe they are trying to do.
12:42
SPEAKER_00: We have a an adult working um population that is 60% of that of that adult working population has a literacy rate under the sixth grade, according to Ray Dalio in a recent speech he gave.
12:53
SPEAKER_00: So we're uneducated, we're broke, we don't make anything anymore, just in time for AI to disrupt the labor market.
12:59
SPEAKER_00: What do you do?
13:00
SPEAKER_00: How do you re reindustrialize?
13:02
SPEAKER_00: How do you put our kids back to work?
13:04
SPEAKER_00: And how do you become non-reliant upon China for everything from aircraft parts to aspirin?
13:10
SPEAKER_00: Well, the only way to do it in my mind, Richard Russell, my mentor, said you inflate or you default.
13:15
SPEAKER_00: Period, end of story done.
13:16
SPEAKER_00: What about option three?
13:18
SPEAKER_00: Soft default on the reserve status, let gold go to the moon through money movement, synthetically yet organically, market to market at some point.
13:27
SPEAKER_00: And said 42, 22 on the books right now.
13:29
SPEAKER_00: So when it gets to whatever thousand, market to market.
13:32
SPEAKER_00: But until then, let go go higher, higher, higher, higher, the dollar goes lower, lower, lower to reindustrialize.
13:39
SPEAKER_00: And all of this gold accumulation and silver accumulation, and now Tether is buying silver.
13:44
SPEAKER_00: Isn't that interesting?
13:46
SPEAKER_00: Keep it at arm's length from the treasury, because if the world knows that the US government is out to get everything they can, how fast does that trade go pear-shaped?
13:54
SPEAKER_00: Immediately.
13:54
SPEAKER_00: So you keep it at arm's length, plausible deniability, not adding to the balance sheet.
14:01
SPEAKER_00: And and and Bo Hines, the CEO, goes in there and says, Listen, you're gonna do this with us.
14:06
SPEAKER_00: Uh, this is the plan.
14:07
SPEAKER_00: I was Trump's cryptozar, here's what we're gonna do.
14:09
SPEAKER_00: Um, and you're all gonna make a ton of money, but you're gonna help the U.S.
14:13
SPEAKER_00: government in doing this.
14:13
SPEAKER_00: And you're gonna also open up the back end of your stable coin um program so that we can find financial fraud.
14:20
SPEAKER_00: Because all the stablecoin, even though it's not a CBDC, it all goes in and out of the treasury, you're gonna help us.
14:25
SPEAKER_00: You're gonna you're gonna help us with fraud, and you too will make lots of money, and you don't have to worry about being investigated by us any longer.
14:31
SPEAKER_00: Now, I know all of this sounds crazy, Andrew, but in my soul, I believe there is a good bit of truth in this.
14:37
SPEAKER_00: And I want everyone to know this is my theory.
14:39
SPEAKER_00: I have no proof.
14:40
SPEAKER_00: But I'll tell you something.
14:42
SPEAKER_00: None of this makes sense to me anymore.
14:44
SPEAKER_00: None of it.
14:45
SPEAKER_00: The amount of deliveries that we are seeing, a company like Tether buying more gold than anyone on the planet, none of it makes sense to me unless there is something bigger.
14:53
SPEAKER_00: And if indeed this administration finally got it, and I think they do, that if we don't start to compete with the rest of the world as it pertains to natural resources and very, very, very important ones at that, perhaps those backing a new monetary system were dead in the water.
15:09
SPEAKER_00: And could it be by bringing someone like Judy Shelton on board, who is the most outspoken gold advocate for a new monetary system linked to gold?
15:18
SPEAKER_00: I mean, could it be when you add in David Zerfos and Steven Mirror?
15:22
SPEAKER_00: And is it coincidental?
15:24
SPEAKER_00: I think not.
15:25
SPEAKER_00: I'm sorry for monopolizing all this time, but I wanted just to get that theory out there because in my mind, it's the only way I can connect all of these dots that would benefit the United States.
15:36
SPEAKER_00: It would hurt holders of US dollars for sure, but what it really does is it gives us a shot to reindustrialize, to produce more than we consume, to give our kids the chance to have the dream that we all did when we were kids.
15:48
SPEAKER_00: And that is that you can you can be what you want and do what you want because AI is here to change that reality very quickly.
15:54
SPEAKER_00: So if we don't start making things again, it's over.
15:57
SPEAKER_00: And I think that's what this is all about.
15:59
SPEAKER_00: And gold is at the center of it.
16:01
SPEAKER_01: You know, no, I I Andy, what you've just talked about is gold, is pure gold.
16:07
SPEAKER_01: Now, I think what we you're doing is what we talked about is what we're trying to do here is to open the mind, to get people to look at the bigger picture.
16:17
SPEAKER_01: What you've just said makes sense.
16:20
SPEAKER_01: And you're right, you've anchored it in certain things, which is are there really that many coincidences?
16:26
SPEAKER_01: Life doesn't, you know, from we through living life, coincidences are very, very rare.
16:33
SPEAKER_01: Um, so I think what you've what you've done is is really given us a really good, and I I concur with everything you've said, and I've learned something here today as well, uh, and that is a a thing that I value even more to find out more information about things.
16:51
SPEAKER_01: Now, I I I mean, obviously the Judy Shelton thing, yeah, no coincidence there, but you've just connected a few other dots here, which are very important.
16:59
SPEAKER_01: And it all, I mean, this is five D chess, and I think anyone that really understands the business gets it, and people who are looking in who are new will, hey, this is interesting because it does resonate.
17:15
SPEAKER_01: Uh, and um with especially we track every footprint, we track everything.
17:21
SPEAKER_01: We are exposed to the biggest liquidity providers, some of them are uh uh related to the biggest bullion banks in the world, and we see them all long for their own books.
17:31
SPEAKER_01: We know this is your what you're saying is absolutely correct.
17:35
SPEAKER_01: There's no shorting going on with the bullion banks.
17:37
SPEAKER_01: What we're seeing is, and I think a lot of this is where I get a lot of questions because we're looking at their footprints, and especially you take uh the CPI um volatility um for for as an example.
17:53
SPEAKER_01: And and it it it what it does in gold you can get away with hiding your footprint, in silver you cannot.
18:00
SPEAKER_01: You cannot.
18:01
SPEAKER_01: And so what we do is we say, obviously, it's about position concentration.
18:07
SPEAKER_01: Who in the hell has the position concentration where we we study individual tickets?
18:14
SPEAKER_01: We look and we say, hey, that has to be sanctioned because no bank, no regulated bank would dare put a sale of that size.
18:24
SPEAKER_01: It would clearly exceed all position limits for anybody, for multiple people, and yet it's a ticket, it's a one ticket, and you and you know yes, other people join in.
18:34
SPEAKER_01: But so it tells us there is definitely clear intervention going on.
18:39
SPEAKER_01: But who is it?
18:40
SPEAKER_01: And and I and I suddenly go back and I go, well, hold on it.
18:45
SPEAKER_01: We're we're dealing with Bessent is exoros trader.
18:50
SPEAKER_01: He is, he is basically um, he's not a uh your your your standard conventional central banker.
18:58
SPEAKER_00: You know, you know who he was uh who he was protege to?
19:02
SPEAKER_00: I mean, and it's probably someone you've interviewed, I would think.
19:05
SPEAKER_00: He was protege to Jim Rogers, one of the best commodity traders of all time.
19:09
SPEAKER_00: So he understands it very well.
19:11
SPEAKER_01: Absolutely.
19:12
SPEAKER_01: And and and so so I think I think basically um he is um I I think the ESG, uh sorry, the the the um the exchange stabilization fund is active in the market.
19:28
SPEAKER_01: I think they know what they're doing.
19:30
SPEAKER_01: They are, I mean, they're I mean, good God.
19:33
SPEAKER_01: I mean, if you can you work for Soros, as you say, you've got a Providence of the background there.
19:38
SPEAKER_01: I think what they're doing, and my footprints say, no, I mean, and you take the silver market because it's related to gold, and you see 5,000 tons get, excuse me, 5,000 tons of silver exchanged in seven hours from uh in a 390 discount or 345 discount, it was uh CPI.
20:00
SPEAKER_01: No silver was on sale.
20:02
SPEAKER_01: Do you know of any silver that was on sale?
20:04
SPEAKER_01: I know of no physical silver that hit the market.
20:07
SPEAKER_01: We didn't get any, we were looking for silver and couldn't get any.
20:10
SPEAKER_01: So this was 5,000 tons, and then it and in in five in literally seven hours.
20:18
SPEAKER_01: Okay, so somebody was behind that trade.
20:21
SPEAKER_01: And and but they somebody also bought that trade.
20:25
SPEAKER_01: This is the key.
20:27
SPEAKER_01: And I think I think you've you've been on to this for a while, is that somebody's buying these discounts and it only takes, I mean, the the thing is, Andy, as we know, open interest, what is contracted from 800,000 contracts in 2020 down to uh the the the low 400s if 390, 380, whatever.
20:49
SPEAKER_01: Um so that open interest has evaporated.
20:53
SPEAKER_01: In other words, people have bailed.
20:55
SPEAKER_01: They don't want to be anything, they don't want anything to do with that toxic sandpit anymore.
20:59
SPEAKER_01: They've moved to the physical exchanges, and and yes, unfortunately, we do have uh those um uh institutionals that are not mandated to touch, handle, physical are forced into the ETFs.
21:12
SPEAKER_01: But we see the ETFs at records highs into these sell-offs, and and it's because all this money is pouring in.
21:20
SPEAKER_01: It does it and somebody is buying these discounts.
21:24
SPEAKER_01: And I think the open we talk about open interest, the open the declining open interest, this liquidity that's flowing out has left really I think the bandwidth for this gaming is restricted to this declining open interest.
21:40
SPEAKER_01: And we've reached a level where, to me, I know and you know, that physical demand, physical support, central bank physical support is between 4,000 and 4,100.
21:52
SPEAKER_01: It it's just there.
21:54
SPEAKER_01: And we we know it.
21:55
SPEAKER_01: And and it it's it's the arbitrage that kicks in every time it jumps below.
22:00
SPEAKER_01: That so I think it's really interesting.
22:02
SPEAKER_01: Then you mention so this is this is it's probably the exchange traded uh the stabilization fund that is behind this.
22:11
SPEAKER_01: Um, they are accumulating gold, accumulating silver.
22:15
SPEAKER_01: It's part of the process of what you're talking about.
22:18
SPEAKER_00: Yes, because you saw what happened in January.
22:20
SPEAKER_00: They let the price get too high, and the speculators started to overwhelm the system.
22:25
SPEAKER_00: Yeah.
22:25
SPEAKER_00: And so I think if you had the ability to, and you said, look, this is for the better of our country.
22:32
SPEAKER_00: We you think you're doing the right thing, right?
22:34
SPEAKER_00: We need to do this, you guys.
22:35
SPEAKER_00: We're in trouble, otherwise.
22:37
SPEAKER_00: The global south is really wickedly ratchet up and they're building alternative payment systems.
22:42
SPEAKER_00: We call that the veins.
22:43
SPEAKER_00: All of the, you know, you look at all the payment systems that that are built.
22:46
SPEAKER_00: Everyone focuses like on Embridge.
22:50
SPEAKER_00: Well, that that's one of them, of course.
22:51
SPEAKER_00: That's that's the BRICS payment system.
22:53
SPEAKER_00: There's SIPS, which is the cross-border payment system that China has recently signed up.
22:59
SPEAKER_00: The countries in Southeast Asia, ASIAN is their acronym.
23:02
SPEAKER_00: They're 800 million people, Andrew.
23:03
SPEAKER_00: They're twice the population of the United States and China's largest trading partner by far.
23:08
SPEAKER_00: But those aren't the only payment system.
23:11
SPEAKER_00: Africa just came out with one called PAPS, P-A-P-S-S, I believe.
23:16
SPEAKER_00: Um, there is um Brazil has PICs and India has UPI, and the whole thrust thrust of the Last BRICS meeting was interoperability of all these payment systems.
23:25
SPEAKER_00: So they'll trade with one another using their local currencies, and they will settle in balances in gold through a series of multi-jurisdictional vaults.
23:33
SPEAKER_00: Look at all the vaults that have popped up.
23:34
SPEAKER_00: Um Moscow, St.
23:36
SPEAKER_00: Petersburg, Mumbai, Dubai.
23:39
SPEAKER_00: There's a new one that the Shanghai Exchange is building.
23:41
SPEAKER_00: In fact, I think it's just completed in Saudi Arabia.
23:44
SPEAKER_00: You have um Singapore, of course, the big one in Hong Kong, which will be as of July, first quarter next year, um, trading, same-day settlement in Yuan.
23:54
SPEAKER_00: You can have a contract in Shanghai and take possession through Hong Kong, or you can trade across these cross-border payment systems in your local currencies, settle in balances and gold with a series of multi-jurisdictional vaults, where United Arab Emirates, who is a BRICS member who left OPEC, can sell their oil to China for digital yuan across a cross-border payment system and settle in balances in their backyard right now in the new exchange that was built in Dubai, which is same-day settlement right now, although in dollars, that may change.
24:27
SPEAKER_00: But the point of it is that you are now giving optionality to countries who can very quickly um sidestep the dollar-based system.
24:35
SPEAKER_00: And I think it's being put into place.
24:37
SPEAKER_00: I think it was recognized by the U.S.
24:40
SPEAKER_00: government.
24:40
SPEAKER_00: So if you see all this happening, and you know, I think this administration has seen it, 24 straight months of deliveries on ColeMex since he won the election.
24:48
SPEAKER_00: Is that coincidence?
24:49
SPEAKER_00: No, it's not because they never stood for delivery.
24:51
SPEAKER_00: ColeMex was never designed for delivery, it was designed to offset risk.
24:55
SPEAKER_00: Where a farmer plants a field of wheat in April and sells the production to the baker who needs it for his bread in September.
25:01
SPEAKER_00: They're happy.
25:02
SPEAKER_00: They meet in the middle, okay?
25:03
SPEAKER_00: But that's what it was designed for.
25:05
SPEAKER_00: Or me who has 2 million ounces of silver in my warehouse that I sell to the public, I sell 2 million on ColeMex.
25:10
SPEAKER_00: So one goes up, one goes down.
25:11
SPEAKER_00: I'm market neutral.
25:12
SPEAKER_00: It's designed to offset risk.
25:14
SPEAKER_00: But now we're seeing all these deliveries.
25:15
SPEAKER_00: And if you were the government and you said, look, we need to do this, you guys, oh, we're dead.
25:20
SPEAKER_00: Two things we must do.
25:21
SPEAKER_00: One, we can't let everyone know it's us.
25:22
SPEAKER_00: So we'll do proxy with Tether, we'll do proxy with the commercial banks, we'll work out deals with them.
25:27
SPEAKER_00: And number two, we're gonna suppress the price.
25:29
SPEAKER_00: We're gonna keep it in a band, right?
25:31
SPEAKER_00: Because there's too much demand if we drop it too low.
25:34
SPEAKER_00: There's too much um you'll get all the you'll Johnny come lately if it goes too high, like we saw in December and January.
25:41
SPEAKER_00: That's why the CME group had to come in and jack up margins 300% into the ETF rebalance, is guaranteeing a collapse.
25:48
SPEAKER_00: Okay, so we'll keep it in this volatile, counterintuitive range.
25:54
SPEAKER_00: Everyone says, I'm out.
25:55
SPEAKER_00: This is so stupid.
25:56
SPEAKER_00: I'm out.
25:56
SPEAKER_00: It should have gone way higher.
25:57
SPEAKER_00: I'm out.
25:58
SPEAKER_00: I'm gonna go buy the shiny thing over there in the SP.
26:00
SPEAKER_00: I'm out.
26:01
SPEAKER_00: And then what happens?
26:02
SPEAKER_00: The biggest money in the world doubles and triples down their acquisitions.
26:05
SPEAKER_00: China imports more silver in the first two quarters than it ever before in the history of their country as the price got kneecapped by drive-by shooting.
26:12
SPEAKER_00: And you see the same thing happening here in the United States as these deliveries keep happening, but they don't leave Comec, so it must be nothing.
26:19
SPEAKER_00: Sure, it's nothing.
26:19
SPEAKER_00: Keep looking at the shiny things.
26:21
SPEAKER_00: The point I'm getting at is that if you had the ability as a government for national security for the benefit of the country to suppress the paper price, so you too could accumulate by proxy, so no one notices, would you do it?
26:35
SPEAKER_00: You're damn right you would.
26:36
SPEAKER_00: And so too would they.
26:38
SPEAKER_00: So would I.
26:38
SPEAKER_00: If it was for the benefit of the United States, why not?
26:41
SPEAKER_00: You control the price, price is set here.
26:44
SPEAKER_00: You just got to take your footprints out of the snow and make it look innocuous, and then you stand for delivery quietly without letting your numbers grow or anyone think it's you.
26:54
SPEAKER_00: But if you think Tether's doing this by accident, if you think the commercial banks are doing this by themselves, remember when Blythe Masters was interviewed?
27:02
SPEAKER_00: Blythe, why is JP Morgan buying all this metal?
27:05
SPEAKER_00: We don't buy the metal, she said.
27:06
SPEAKER_00: It's always for a customer, it's not for us.
27:09
SPEAKER_00: Who is the customer?
27:10
SPEAKER_00: Who's got billions of dollars every single month to stand for delivery?
27:15
SPEAKER_00: Again, in October, billions of gold, almost a billion in silver.
27:19
SPEAKER_00: Every single month we see it.
27:22
SPEAKER_00: And, you know, I just think people need to, at this point, look outside, you know, look outside the books, uh, outside the box.
27:30
SPEAKER_00: So far in October, over 11,500 gold contracts.
27:33
SPEAKER_00: That's almost five billion dollars again this month.
27:36
SPEAKER_00: Who is doing it?
27:38
SPEAKER_00: And why is no one saying it but me?
27:40
SPEAKER_00: It drives me crazy.
27:41
SPEAKER_00: And a lot of the smart guys will say, not leaving Colex.
27:44
SPEAKER_00: So it must just be shenanigans between the traders.
27:46
SPEAKER_00: They never went through to this last step of saying, I want those numbered bars.
27:52
SPEAKER_00: I don't care if it's a warrant.
27:53
SPEAKER_00: I want them.
27:54
SPEAKER_00: I want to be able to take possession.
27:55
SPEAKER_00: And if you are the U.S.
27:56
SPEAKER_00: Treasury, you do not give one crap about any of the problems associated with COMEX because you know you're going to get yours before anyone else gets theirs.
28:05
SPEAKER_01: Yeah, absolutely right.
28:06
SPEAKER_01: And it doesn't matter if it's leaving or not, as you say, it's it's being it's being secured, paid.
28:13
SPEAKER_00: An eligible account, not a registered.
28:15
SPEAKER_01: That's right.
28:16
SPEAKER_01: That's right, absolutely.
28:17
SPEAKER_01: And so what I think what's interesting is because obviously we talked about this integration um with uh pay pa other payment systems.
28:26
SPEAKER_01: So so what's so interesting is is we're seeing I'm seeing some front running going on here.
28:32
SPEAKER_01: And I and I I think what I'm leading to is uh watch out in November.
28:36
SPEAKER_01: I really believe watch out in November because uh now basically if you remember when before Basel III was launched and the BIS covered all 500 tons of their own swaps on in November.
28:52
SPEAKER_01: Uh two months ahead, basically, late October, two months ahead, they front ran Basel III reclassification of gold.
29:01
SPEAKER_01: Oh, okay, is it a coincidence that gold rose 4,000 bucks almost in a linear fashion?
29:08
SPEAKER_01: Okay, it went overshot at the end at 5,600, but but nevertheless, is it a coincidence with no what we're seeing is front running, and I tell you what the because I obviously working with first-year liquidity providers who are associated with JP Morgan, HSPC Goldman.
29:25
SPEAKER_01: And essentially on July the 6th, as we all know, Hong Kong we again began trial operations of a fully blown, dollar settled, yuan settled, cross-settled um first quarter of 2027 launch, full-blown launch, dollar accessible.
29:48
SPEAKER_01: Hey, I'm sure.
29:50
SPEAKER_01: I mean, our our liquid advisor is saying we're positioning long, long, long, long, long because it's going to get front-run, just like the bank band the uh BIS front-ran uh the reclassification of gold.
30:04
SPEAKER_01: We could see, and and and I'm not putting silly numbers here, but why wouldn't you see a$4,000 rally in gold?
30:11
SPEAKER_01: Why wouldn't you be not because the bank's saying, oh no, it'll it'll probably settle at four to five thousand or something.
30:18
SPEAKER_01: No, sorry, but they were they they they keep changing their numbers to suit themselves.
30:24
SPEAKER_01: But essentially, this isn't a front-running, we're seeing it now, and it is is is we're gonna see a reclassification of a first-tier asset capable of uh storage where you can have a high quality liquid asset, gold position, collateralize it, don't have to sell it, collateralize it, it doesn't move anywhere, it's yours, and you can just margin it.
30:51
SPEAKER_01: I mean, but it's physically settled, and their futures contract will be NSFR compliant, physically settled.
30:58
SPEAKER_01: So to me, the the LBMA is done.
31:02
SPEAKER_00: Yeah, and imagine a scenario where all of these countries now they don't have to come out and openly um push back against the Western system, they can just simply trade over us over a network that is not compliant with Swift, using their local currencies, which strengthens their own monetary system instead of that of ours, and trades in balance, settles in balances in gold through multi-jurisdictional vaults.
31:29
SPEAKER_00: It is the beginning of a new system.
31:32
SPEAKER_00: And that's why when we go back to the original question and talk about gold revaluation, if you told me, and again, this is way out there, and I I just think you have to think this way, or you miss the point, because it's time to start thinking outside the box that that she and Trump were both aware of the idea of we're going to accumulate the hell out of it in an effort to push back against the LBMA and the city of London, what that means, the old banks and stuff.
32:01
SPEAKER_00: Um, well, we have to first accumulate it.
32:04
SPEAKER_00: You're gonna build the system, the infrastructure to challenge it with a new settlement system in an in another currency for the first time in the 140 years that the LBMA has been around.
32:14
SPEAKER_00: It's been in pounds or dollars, it hasn't been in in Yuan.
32:18
SPEAKER_00: So here's what we're gonna do.
32:19
SPEAKER_00: We're gonna accumulate the hell out of it.
32:20
SPEAKER_00: We're gonna keep the price low.
32:21
SPEAKER_00: You're gonna start taking, and we're both gonna do this.
32:24
SPEAKER_00: And we are the two superpowers of the world.
32:27
SPEAKER_00: We're gonna be the ones with all the gold.
32:29
SPEAKER_00: If you told me that, I would believe it.
32:31
SPEAKER_00: Now, do I know that?
32:32
SPEAKER_00: No, not even close.
32:33
SPEAKER_00: But I will tell you that it it certainly appears as though both entities fully understand China is far more transparent than we are, but yet they're not really transparent, as Goldman Sachs, the IMF, and the World Gold Council said they buy way more than they're telling us.
32:48
SPEAKER_00: So we know that.
32:49
SPEAKER_00: And that's why we wouldn't tell anyone either.
32:52
SPEAKER_00: And and I, you know, you talk about front running in the BIS, totally agree with you.
32:56
SPEAKER_00: And if add to that statement, in 2017, when the Bundesbank made a huge deal after a couple of years of trying to get it in vain, took an ad out in the in, I think, in the Wall Street Journal, we want our gold back.
33:09
SPEAKER_00: Right after that, it was the the the Dutch National Bank, the Bank of Austria, Hungary, Turkey, Poland, the Czech National Bank, they all said the same thing.
33:17
SPEAKER_00: The following year in 2018, those groups bought more gold, those countries bought more gold as a group, as as they did in the 60 years previously combined.
33:26
SPEAKER_00: And then in 2019, they doubled that amount.
33:30
SPEAKER_00: And then somehow mysteriously, what do you know?
33:33
SPEAKER_00: The BIS reclassified gold with Basel III, and they front ran, they all front ran it.
33:40
SPEAKER_00: At that level, you take care of your own, and that's what they are doing.
33:43
SPEAKER_00: So if you, you know, this is I used to give a speech, Andrew, um, on the book The Art of War, which was written by Sun Su in the 5th century BC.
33:54
SPEAKER_00: That is a book that is taught in almost every major business school in the United States on corporate hierarchy and in law schools on formulating arguments.
34:02
SPEAKER_00: It's mandatory reading at CIA in West Point.
34:04
SPEAKER_00: Uh the one of the most prolific NFL football coaches ever is a man named Bill Belichick.
34:09
SPEAKER_00: He would read it for game script.
34:11
SPEAKER_00: It's how to beat your opponent by misdirecting, by not throwing a punch.
34:15
SPEAKER_00: And think of any sport you've ever played.
34:17
SPEAKER_00: Um, the usually the object, uh, the object of a sport is to misdirect your opponent to score a goal or to get a touchdown or to whatever it is, you misdirect to achieve your goal.
34:29
SPEAKER_00: I don't care if you're playing chess, it's the same thing.
34:32
SPEAKER_00: Misdirection is everywhere.
34:33
SPEAKER_00: And I think misdirection is in accumulation, misdirection is in reaching your ultimate goal.
34:41
SPEAKER_00: And the biggest mistake we make as investors is believing our lying eyes.
34:44
SPEAKER_00: You have to trust your gut right now, and you have to say, well, this doesn't make sense.
34:48
SPEAKER_00: You put all this and this and this and this together.
34:50
SPEAKER_00: Well, people may think I'm nuts for saying it, but this is what I believe.
34:52
SPEAKER_00: And I've just gotten tired of toting the line.
34:55
SPEAKER_00: I'm I look, this is what I believe.
34:57
SPEAKER_00: I think there's a lot more going on than meets the eye, and we can quantify this, this, this, this, this, this.
35:02
SPEAKER_00: Now you try and tell the public what you think all of those dots line up to.
35:08
SPEAKER_00: And, you know, I could be way off, but I'll tell you something.
35:11
SPEAKER_00: Uh I know for a fact that the things that we are seeing, at least in terms of gold accumulation in this country and standing for delivery, is so far outside the realm of what's a normal.
35:21
SPEAKER_00: It is so far an outliner, outlier.
35:24
SPEAKER_00: It's four feet of snow in Death Valley, where the temperature is usually about 120 degrees in July.
35:29
SPEAKER_00: It's four feet of snow in July in Death Valley.
35:32
SPEAKER_00: And if that were to happen, I guarantee you they wouldn't pop, you wouldn't see snowmobile dealerships pop up all over the place because it's an anomaly.
35:39
SPEAKER_00: And that's what this is one that's gone on longer than than is normal.
35:43
SPEAKER_00: And it's the same reason that you see uh China continue to to to put a 12 or 13 percent VIG on the Western silver price.
35:51
SPEAKER_00: It should have been gone like that, as all the traders rush to fill that arbitrage.
35:55
SPEAKER_00: No, no, keep giving it to us.
35:56
SPEAKER_00: We'll take it.
35:57
SPEAKER_00: Come on, give us what isn't nailed down, we'll pay you.
36:00
SPEAKER_00: You can go buy a new yacht.
36:01
SPEAKER_00: Just keep giving it to us.
36:03
SPEAKER_00: There's something much bigger going on with gold and silver.
36:06
SPEAKER_00: There's something much bigger going on with the new monetary system or a new version of a monetary system that that needs trust.
36:13
SPEAKER_00: And what better way to inspire trust than a marriage of blockchain technology and gold?
36:18
SPEAKER_00: And I think that's where we're going.
36:20
SPEAKER_00: You got to get the gold first.
36:22
SPEAKER_00: And so let's use the stupidity of the Western suppression to achieve that goal.
36:26
SPEAKER_00: And then we'll talk about price discovery.
36:28
SPEAKER_00: And that's what you mean by November.
36:31
SPEAKER_00: Be careful because you will, I believe, begin to witness what real price discovery looks like when you see it traded in in Yuan.
36:40
SPEAKER_00: Because as it is right now, you can do an exchange for physical, deliver it to Brinks Hong Kong, which is a Comex destination, and then truck it over to Shanghai.
36:49
SPEAKER_00: And guess what you have?
36:50
SPEAKER_00: You have arbitrage, huge arbitrage that will blow up the whole system if you're right.
36:55
SPEAKER_00: And we do see price um discovery, I think we will.
36:59
SPEAKER_00: And I think the game is getting very close to being over in terms of their ability not only to suppress it, but their willingness and desire to keep it low.
37:08
SPEAKER_00: Once you have all that metal and it's going to be integrated into the system, don't you want to let it run and find real price discovery?
37:15
SPEAKER_00: And that, that to me, ultimately is the end game.
37:18
SPEAKER_00: You don't buy it to become wealthy, even though you may.
37:21
SPEAKER_00: You buy it because the biggest, most well-informed money in the world is showing you through their actions, not through their words as much.
37:27
SPEAKER_00: Although they're telling you here in the West they're going to inflate the dollar away.
37:31
SPEAKER_00: But you you look at what they're doing in the biggest money in the world, whether it be tethered, the central banks, the commercial banks, China, they're all accumulating it.
37:38
SPEAKER_00: And they're doing it in a price insensitive manner.
37:41
SPEAKER_00: So I don't know, man.
37:42
SPEAKER_00: I think it's uh I think it's gonna be an interesting uh next several months as we get to the beginning of next year.
37:49
SPEAKER_00: And why do you say November per se, though?
37:52
SPEAKER_00: What about November that that makes you focus on November?
37:57
SPEAKER_01: It's simply the it's almost the exact footprints that we saw in uh we saw the the selling kind on, we saw the uh we sort of into that selling, we saw uh the Bank of International Settlements squaring all of their dumping all of their swaps to zero at that point.
38:18
SPEAKER_01: The people that borrowed, the borrowing from the BIS, it's not their own site account.
38:24
SPEAKER_01: They're actually servicing other central banks, um, or probably the Fed, who knows?
38:29
SPEAKER_01: But but essentially um November because it it almost it rings true.
38:35
SPEAKER_01: And if you want to front run the a listen to me, okay.
38:41
SPEAKER_01: I'm a refiner.
38:42
SPEAKER_01: I'm a I'm I'm in some uh a producer refiner.
38:47
SPEAKER_01: Why would I enter the Comec sandpit if I have an alternative, a dollar-settled futures contract which is physically deliverable as opposed to cash-settled, highly leveraged, and all the rest of it.
39:03
SPEAKER_01: So yeah, I mean, you can employ leverage to a certain degree, but you have to have the physical in, you have to be able to support that physical for delivery.
39:12
SPEAKER_01: So if you're called for delivery at the end of a contract, you have to deliver.
39:16
SPEAKER_01: And there is somebody there that will take it from you.
39:18
SPEAKER_01: And therefore, you're getting a real price.
39:21
SPEAKER_01: And that's all you ever wanted.
39:23
SPEAKER_01: Isn't that all we ever want?
39:24
SPEAKER_01: That's not all you ever wanted.
39:26
SPEAKER_01: All I ever wanted to know is what's the real price of me selling, buying a bullion bar, and that somebody's going to put that up on offer.
39:34
SPEAKER_01: And there's a balance between what they want and what I'm willing to pay on the size I get.
39:40
SPEAKER_01: I mean, but that establishes a price for everyone else.
39:44
SPEAKER_01: So why would, and this is what I mean, why would that not be front-run?
39:49
SPEAKER_01: Because now you know that's coming.
39:52
SPEAKER_01: Isn't it time to start gearing up?
39:54
SPEAKER_01: And we see, look, hey, there's the perfect example, the engagement of Valcambi along, I mean, along clients like MKS Pamp, um, Arga Horaeas, they're all starting to populate into the physically settled exchanges.
40:10
SPEAKER_01: And so, yeah, that's why I think November is it's almost it's almost, and we're coming into season as well.
40:18
SPEAKER_01: Coming into gold season.
40:20
SPEAKER_01: Goodness me.
40:21
SPEAKER_01: I I don't know.
40:21
SPEAKER_01: I think we're going to move into and the shorts.
40:24
SPEAKER_01: The remember the bubble longs that you just referred to in the end of January?
40:29
SPEAKER_01: Bubble longs or pop gone.
40:32
SPEAKER_01: As um uh I think uh anyway, so they they're gone.
40:37
SPEAKER_01: So now they're bubble short.
40:40
SPEAKER_01: Okay, it's a lesser amount because open interest is contracted, but they're bubble short.
40:44
SPEAKER_01: So what happens when you and of course because margin is because margin is on a percentage basis, therefore they're using that extra juice to double down, double down.
40:58
SPEAKER_01: So what happens when the price comes back up?
41:01
SPEAKER_01: You're gonna enter into into a bid only situation and you're gonna see this bubble short, it's gonna be the inverse of what we saw in January, and it's gonna be a bubble short bid into a bid only market and good riddance to these to these uh scumbags, to be honest.
41:22
SPEAKER_01: Um, because they've never looked, they just look at a dot on a screen, they have no view into what you see, what I see in the physical markets, they don't care about that.
41:31
SPEAKER_01: They're just simply chasing a dot on the screen, which is a trend line that was anchored probably multiple years ago.
41:38
SPEAKER_01: Uh an exchange, uh, uh uh a constructed moving average where, hey, hey, we can play that game and and pull a couple of bids there and get stuff going.
41:48
SPEAKER_01: So, yeah, I think I think we've got a bubble, a bubble inverse um happening in November.
41:54
SPEAKER_00: Well, that, you know, and and just to put a bowl on what you said, I think people watching this need to understand what he was saying about all we've ever wanted is the ability to take delivery.
42:04
SPEAKER_00: All of this suppression and manipulation and rehypothecation in the United States and in London in the equity markets has been under the assumption that hardly anyone will ever stand for delivery.
42:18
SPEAKER_00: So if it's kind of like the old goldsmiths back in the day who said, listen, you know, we're holding everyone's gold.
42:24
SPEAKER_00: They're never coming to get it.
42:25
SPEAKER_00: Rarely do they come to get it.
42:26
SPEAKER_00: So why don't we just lend out a little bit more?
42:29
SPEAKER_00: Well, that's how Ponzi schemes start, right?
42:31
SPEAKER_00: You know, um Ponzi schemes don't start out, let's build a Ponzi.
42:35
SPEAKER_00: They start out and say, geez, man, look, we could probably get away with this.
42:39
SPEAKER_00: And then we try it.
42:40
SPEAKER_00: Hey, man, I just bought every Ferrari, it's unbelievable.
42:43
SPEAKER_00: But let's try it again.
42:45
SPEAKER_00: I got three Ferraris in a house in, you know, in Tahiti.
42:48
SPEAKER_00: Let's try it again.
42:50
SPEAKER_00: And all of a sudden you get to a point where you're so massively leveraged and re-hypothecated.
42:54
SPEAKER_00: You didn't start out that way, but then people said, But I need my money back, and that's where the problem starts.
42:59
SPEAKER_00: And we're getting to that point where we need our money back because they were able to do it under the under the realization that no one stood for delivery, less than 1%.
43:08
SPEAKER_00: So shenanigans, let's go.
43:10
SPEAKER_00: Anyways, interesting times, Andrew, as they say in as a Chinese curse, may you live in interesting times.
43:17
SPEAKER_00: And these are, and um, I don't know.
43:20
SPEAKER_00: I always enjoy talking to you because, you know, I see things a little bit more clearly after speaking with you, and feels good just to get it off my chest anyway, because again, I want people to know that almost everything I said today is rooted in fact until the point where I connect the dots.
43:34
SPEAKER_00: I don't know that the treasury is doing this with part of me, hopes they are with Tether and with the commercial banks.
43:40
SPEAKER_00: I don't know it, but I will tell you everything leading up to that point is so weird and so strange and so unusual that I guess to me that's Occam's razor, the most logical.
43:49
SPEAKER_00: Um, to me, that is the most logical explanation.
43:52
SPEAKER_00: But I guess we will see.
43:54
SPEAKER_00: Um it's always good to talk to you, brother.
43:57
SPEAKER_00: That's for sure.
43:58
SPEAKER_01: Yeah.
43:58
SPEAKER_01: And and you know what?
43:59
SPEAKER_01: I mean, it it is, and and I think that it's so welcome having you here.
44:03
SPEAKER_01: But and you mentioned market misdirection, you mentioned San Sue.
44:08
SPEAKER_01: You meant you've just what you've done is to me, I'm I'm distilling that in there because yes, that that does.
44:16
SPEAKER_01: It relates to all the things you're talking about.
44:19
SPEAKER_01: It is definitely relating to the the treasury, it's relating to uh all the all the things that you talked about, Judas Shelton and and all the other people, tether and all these other things.
44:32
SPEAKER_01: Market misdirection uh is uh is really what we're seeing right now from those that look at a 10-minute chart and and think, oh my god, gold's not going anywhere.
44:44
SPEAKER_01: We're not looking at the real picture, but uh talking to you, Andy, um, has been pure gold.
44:52
SPEAKER_01: People will listen to this and they'll think, and it's gonna help it'll it'll help all manner of people to make a better decision.
45:01
SPEAKER_01: I've learned something today, which is do you know what?
45:05
SPEAKER_01: Uh in 74, that's a brilliant thing to learn something today.
45:10
SPEAKER_01: And and you know what?
45:12
SPEAKER_01: Thank you for that.
45:13
SPEAKER_00: You got it, brother.
45:14
SPEAKER_00: You're looking pretty damn good for 74.
45:16
SPEAKER_00: And uh, like I was saying off air, I can't wait to hopefully see you at the end of the year.
45:21
SPEAKER_00: We'll be in in London and uh dinner on me.
45:25
SPEAKER_00: Um I appreciate being here, and I'll always come back on if there's ever anything to talk about.
45:30
SPEAKER_00: Uh it it's uh it's my privilege, my honor.
45:34
SPEAKER_00: And uh until then, I'll look forward to picking up where we left off.
45:37
SPEAKER_00: Keep doing what you're doing, and uh um thanks for having me, brother.
45:42
SPEAKER_01: Thank you, Andy, and we'll put all your links up.
45:44
SPEAKER_01: Thank you so much for joining us today.
45:46
SPEAKER_00: Anytime.