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An Economic Storm is Coming (Andy Schectman Interview) · Man in America Podcast

0:00
Speaker 1: Ladies and gentlemen, welcome to Man in America. I'm your host, Seth Holehouse. Americans are struggling to afford food, rent, and gas, and 61% are now living paycheck to paycheck. Credit cards are stretched to the limits, and many folks are even relying on pawn shops to make ends meet. Meanwhile, world leaders are charging ahead with their green energy transition, shutting down farms and energy production and passing spending bills that will only increase inflation and make life even harder for the average Joe.
0:36
Well, I guess they said we'd all be equal. Right? Yeah. Equally starving and equally poor. And these sanctions against Russia?
0:45
Tell me, what have they actually achieved? The ruble has only gotten stronger. China is baring its teeth, and a new world reserve currency is rolling in faster than Biden votes at 3AM. But from where I'm sitting, all they've done is provide the perfect cover to collapse Western economies into a giant pile of dead lithium batteries and solar panels. So what's really going on?
1:10
I mean, they're telling us things are easing up and inflation isn't gonna be that bad after all. Yet why did Elon Musk dump almost 7,000,000,000 in Tesla shares last week? Why are other billionaires and CEOs also dumping millions in stocks? Is something major about to happen? Can we hope to see any positive changes on the horizon, or is the storm only just getting started?
1:32
My guest today is Andy Shechtman, who'll be bringing us up to speed on everything going on in the financial world right now. I'll be asking him just exactly where we're at, what key changes have happened in the global economy since our last interview, what we can expect to see next, and most importantly, how we can shield ourselves from what's coming and be prepared for the future. Before we get started, today's show is brought to you by Rise TV. With all the big tech censorship and the demonetization going on right now, the subscribers at Rise TV are literally the reason I can bring you this critical information today. Over at Rise, our mission is to uncover the truth no matter how dark and difficult while always holding on to hope, even having a few laughs along the way.
2:18
So on Rise TV, we have a massive content library and amazing community of patriots, and you'll get to hang out with me for the second hour of every show and ask your questions and share your thoughts and ideas. And today, Andy will be there to answer all of your specific questions. But look, if you're not ready to join Rise TV yet, I understand times are tough. That's why you can always catch my show on all major video and podcast platforms. For as long as there's breath in my lungs, I'll bring you this critical information for free folks because this is how I'm fighting the information war.
2:50
But if you do want to support me and get exclusive access to other Man in America content, the best way is to come out and try Rise TV. There's a link for a free trial and for my podcast and other show links in the description below. And folks, by now we all realize that we're in for a bumpy ride for the foreseeable future. Russia and China are truly flexing their muscles on the world stage. They've aligned with India, Brazil, South Africa, and dozens of other countries to transition away from the US dollar as the dominant global currency.
3:22
So what does this mean? Well, for most of us Americans, the US dollar is all we know. Right? All of our hard earned money is completely tied to it, whether it's through the stock market, our bank accounts, pensions, four zero one k's, etcetera. But we have to realize that if the dollar collapses, all of those things will go right along with it.
3:44
And that's the key. And that's why I've always talked about the importance of putting your money even if just a small portion, into precious metals such as silver and gold. History has shown us that they can survive the ups and downs, the cycles, and the deaths and births of fiat currencies. And if you're looking to do that, I rightly recommend highly Noble Gold. So Noble Gold, they can either sell you gold and silver directly, or they can also do what's called an IRA transfer, where you can actually transfer your assets from your IRA into physical gold and silver with zero taxes and penalties.
4:21
Most importantly, you can trust Noblegold 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 out. Now look, I want to be very clear. You don't buy gold and silver to get rich. You do it to protect your wealth.
4:36
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. So now's the time folks. If you want to 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. And look, if you already have someone you're working with, fantastic.
4:59
I'm not saying you only have to work with no more gold. Right now is a critical time. And if there's anybody you trust, please, please, please make that call because things could be changing very quickly, and you don't wanna be left empty handed. So alright, folks. On to today's show.
5:15
So with me today, I have Andy Shechman, and I had him on almost two months ago. And it's incredible how much has changed in that time. And so I was talking to Andy recently, and we said, you look, I gotta have you back on, and let's just get an update on what's going on because there are significant things happening, folks. So without further ado, let's go ahead and bring on Mr. Andy Shekman from Miles Franklin.
5:37
So Andy, thank you so much for joining me today.
5:41
Speaker 2: Great to be here, Seth. Appreciate it very much. And been looking forward to picking up where we left off. Can't believe it's already been two months because, as you mentioned, things are speeding up at a blistering pace. But great to catch up, great to be back, and thanks for having me.
5:58
Speaker 1: Oh, absolutely. Absolutely. So, Andy, last time I had you on the show, which was I feel like it was this bombshell interview, and I wanna first just give an outline of what we talked about because so much of what we're gonna be digging into today is tied to what was happening two months ago. And on that show, you laid out this series of events that you believe was leading to the collapse of the US dollar and really so much of our way of life along with it. So can you just give us a summary of the same information you presented before and where it's at right now?
6:33
Speaker 2: Yeah. I'll try to do this as quickly as I possibly can. Look, there's a term in literature, I believe it's called fallacy of composition, where the individual pieces in and of themselves are not as relevant as they are together as a whole. And I think that's what I'm trying to get at here is the things that I have seen are forming a linear progression of events, a pattern of de dollarization that are leading somewhere. And so if we try to encapsulate what we talked about last time and kind of give it the cliff note version of this linear progression of events, we can go back to 2017.
7:16
For me, that's where things really started to get interesting and was at the end of or in the midst of a six year downdraft in precious metals. You had crypto currencies, in particular, bitcoin accentuating itself and equity market portfolios doing exceptionally well at the same time. And I think you had what amounted to capitulation to buy a large segment of the metals industry, people who are invested in precious metals became just, I guess, disenchanted with the the performance of gold. Here you got Bitcoin going to the moon. In any case, one of the things that stuck out to me in 2017 was the German Bundesbank publicly making a very large stink.
8:04
And all of these points that I'll mention, I welcome your listeners to Google because they're important to understand that this is not me pontificating. These are all factual events that I will pontificate on after we put them all together. But in terms of the signposts along the way, they're easy to find if you look. Germany says to the world or to The United States, give us back our gold. We want our gold back.
8:28
We have been holding most of the world's gold since the end of World War II. In a nutshell, the reason we were, and this is what made the dollar world reserve, is we said to the world, we will promise to sell you back. We'll buy back the dollars that you hold. This was to the governments, not to the people, but to the governments. You give us back the dollars you're holding and we'll always exchange it for gold at a fixed rate of $35 an ounce.
8:54
And so most of the countries around the world gave us their gold because it was a non interest bearing asset. We can hold it for them, pay them $35 an ounce. They take the proceeds and buy our treasuries. Those treasuries give them a return on what is, in essence, a non interest bearing asset. And after all, they can always exchange them right back to us for $35.
9:15
It was a good deal. And this was the case for a very, very long time until Charles de from France realized we were printing too many dollars to fund the Vietnam War, then we had gold behind it and flew or sailed warships from France to New York Harbor filled with dollars saying give us back our gold and we did. And it bled down 50% of the gold from the Treasury. So Nixon closed the gold window making it completely Fiat. So it's important that we understand kind of a little bit of a foundation from where this all starts.
9:50
Speaker 1: Fiat really meaning that it's a currency that is just backed by nothing. Actually, Andy, can you do me a favor and just shift over your left slightly? Oh, perfect. I don't want your head
10:01
Speaker 2: to get cut off in
10:01
Speaker 1: the middle. Oh, yeah. I want to see your beautiful face.
10:04
Speaker 2: Problem. Appreciate that.
10:06
Speaker 1: So So Nixon basically, like he put he signed a death sentence to the US dollar in '71.
10:12
Speaker 2: Yeah. Absolutely. Absolutely. So this is is one of the interesting points here is, is that we were holding everyone's gold as a result. So in 2017, the Bundesbanks said, give us back our gold.
10:28
And we did. But within a few months of that happening, the Bank of Turkey, Hungary, Poland, Austria, Czech National, Czech Republic National Bank, I think I said the Bank of Austria, all of these European banks. And interestingly enough, most of the banks that said the same thing, we want our gold back to not just from New York Fed, but from the Bank of England. Interestingly enough, the majority of the banks who did this were the Eastern European banks that are part of the European Union, but all trade in their own sovereign currency. So this is going somewhere with all of this.
11:05
And I think that this is very interesting because if you fast forward till the day, these are the banks that are continuing to massively copious Lee accumulate metal. And as you'll see, when we update the timeline here or this linear progression of events, you'll see exactly what I'm getting at with some of these Eastern European banks, in particular, like Turkey and Hungary. But anyway, so the banks say, give us give us back all of our gold. The following year in 2018, those same banks that requested all their gold back bought more gold as a group than they did in the previous sixty years totally combined. So all of a sudden, they go from net sellers of gold up through 2017 to repatriating it and copiously accumulating it more so than in sixty years combined.
11:52
Following year, twenty nineteen, those numbers were up nearly 100%, Seth. And then the Bank of International Settlements did what I believe was the first biggest event of my career. They reclassified gold as the world's only other tier one reserve asset. There's another thing for people to Google gold Tier one reserve. Since the end of World War Two, it was just the dollar and U.
12:12
S. Treasuries that were considered riskless or Tier one. The fact that gold was levied to a Tier one reserve asset is a huge deal. Most of the people in my industry thought it would be a special drawing rights from the International Monetary Fund, which is about 200 countries from around the world who. Would basically pledge a portion of pledge their currencies to make one united currency.
12:35
It's a World Reserve substitute. Never happened. In fact, what did happen the following year is the International Monetary Fund asked for a new Bretton Woods system. Bretton Woods is where everyone met at the end of World War Two to formulate the dollar as the World Reserve currency to formulate it taking over or to anoint it taking over for the pound sterling. Bretton Woods was the moment after World War Two that made the dollar World Reserve.
13:01
Following year. The IMF says we want a new Bretton Woods. This was a very telling event. But what we saw in 2019 and the two years prior to the to this was repatriation, massive accumulation that amounted to front running of a decision by the by the Bank of International Settlements, which is the central bank or central bank located in Basel, Switzerland. So now you have U.
13:24
S. Dollars and treasuries and gold as the world's only tier one reserve assets. We Tier
13:31
Speaker 1: one meaning that if Yes. So if basically if I'm holding gold, it's not it's valued at one to one, right? Like if I want to take out
13:41
Speaker 2: if it's if it's allocated gold, as long as it's allocated and not like pooled or or a paper contract that has to be allocated gold held in the vault would then be one to one as good as cash. I mean, an easy way to understand it would be I lend you $1,000,000. I write you a check. You give me a briefcase with $1,000,000 and $100 bills. I don't care if you pay me back.
14:02
I mean, hopefully you do and they give you back your briefcase. If not, I'm made whole. Well, that in essence is what Tier one means. Kind of dramatic explanation, but you get the point. So that's really a signpost number two and maybe the biggest signpost, really the repatriation being number one, the bigger signpost being gold, being revalued, the world's only other Tier one assets.
14:27
So we move on to 2020. We see the IMF say we want a new Bretton Woods. We see the rise of a group called the Others on the COMEX market, which I do want to talk to you about later today. And this is a group of sovereign wealth funds and family offices. The commitment of traders report that would come out every had that does come out every week showing the positioning of the largest traders on the COMEX market usually.
14:51
Speaker 1: Am I correct to understand that that's commodity exchange market, right? Yes. So that's the market is based in Chicago that sets the prices of everything from silver and gold to wheat and milk. Is that correct?
15:03
Speaker 2: That is exactly correct. And if you watched Trading Places with Eddie Murphy and Dan Aykroyd, was all the orange juice futures are being sold on the commodity exchange. So this commitment of traders report only shows the positioning of the biggest traders each week. Normally, it's the it's the hedge funds on one end and the commercial banks on the other. The commodity exchange typically never saw anyone taking possession of of contracts, although you can.
15:31
It was never a delivery mechanism until 2020 when this third group of reportable showed up on the commitment of traders report out of nowhere and they called them the others sovereign wealth funds, family offices look at them as the most sophisticated, well funded, well informed private traders in the world who all of a sudden started to systematically drain COMEX and the London Metals Exchange of available metal. They took more silver off the exchange than we see in a decade in 2020. They take they took more gold off in 2020 than the Bank of Japan holds in their official reserves. You're talking huge, huge, huge, huge amounts, tens of thousands, millions of ounces taken off of the exchange in a pattern that we had never seen before. This progression of event of of events, of accumulation, of removal from counterparty risk, repatriation out of the system is continuing.
16:29
And we get to
16:30
Speaker 1: So with the others, these being private families. So are these families like maybe like the Rothschilds or the Vanderbilts? Why not? These very wealthy families. So Yes.
16:42
Basically, what you're seeing is since 2017, which is around the time Trump got into office, ironically, there's some big shifts happening. And all of a sudden, countries and these massive families, which we know are behind a lot of things happening in our world today, they know what's coming in the world. And so all of a sudden, they're just scooping up every last ounce of gold and silver they can get, like mad.
17:05
Speaker 2: That's correct. And they're doing it think of any game you've ever played, Checkers, chess, baseball, football, basketball. There's always a modicum of misdirection in it. The no look pass in basketball, the hit and run-in baseball, the fake the handoff to the left. Everyone moves this way, but the tight end creeps out this way.
17:27
You got wide open on the other side of the field. In fact, the play is actually called misdirection. I learned a lot about misdirection from the book The Art of War, which I formulated a lot of speeches after The Art of War is a book written in the fifth century B. C. By a Chinese military strategist named Sun Tzu, who teaches you how to win without throwing the punch in the fight.
17:50
And misdirection is very, very pervasive in his teachings. This is a book that is mandatory reading at CIA at West Point. It's taught in most major business schools on formulating arguments and corporate hierarchy. Same thing in most law schools, formulating arguments and corporate hierarchy. It is, you know, something that Bill Belichick, arguably the best football coach, pro football coach of all time, reads it and uses it to employ game strategy.
18:22
And so misdirection is very pervasive, right? And I think that these central banks, through the commercial banks, through the Bank of International Settlements, have been using the misdirection of price suppression of price to allow them to reposition where equity markets and bond markets and every market reaches all time highs. Yet the the monetary metals, which which which speak to the health of a currency kind of like peeking behind the Wizard of Oz, you know, the curtain and seeing a little old man instead of the big booming voice. Well, that's what rising metals prices signal that it's a little frail man behind the current not the big booming voice. And so the urge to suppress the price of metals not only allows the currency in the system to seem stronger and bigger boomer booming voice than it is, but allows them to reposition without anyone noticing.
19:23
So this is where we are at this point. And now we see the second biggest event of my career, and I'd like people to Google this, too. And I want you to think about these things about just how poor of a job our media mean, God bless someone like you, Seth, who has the courage to stand out there. And you know what? I'll pat myself on the back as well, the courage to stand out there and to speak these truths.
19:49
Because the media, even those that we like to think are fair and biased, like Fox aren't telling us so how many people know that gold is reclassified Tier one, I would venture to say most people don't. Well, the second biggest event of my career really takes us down the rabbit hole where most of this is leading. And that is the day we left Afghanistan. Now, you know, growing up in The United States, you were always taught, you never leave anyone behind ever. You know, when my daughter goes out, she's of age now where she can go out to the to the bars, I say you never, ever, ever leave one of your girlfriends behind ever under any circumstances.
20:29
And I say that to all of them when they come together before they leave. Now you all come home together, right? So same thing in in military parlance. I mean, you never leave anyone behind. But we did.
20:41
We became I think, the laughingstock of the world for a period of time. It was an embarrassing time to be American and be a patriot. And like you, I am very proud to be an American. I consider myself a patriot. That was a very dark day for me.
20:56
The day we left our allies and our U. S. Citizens behind enemy lines. I'm sure you feel the same way. Right.
21:03
So that was and I think there was no coincidence in this announcement that Russia announced a joint military cooperation agreement with Saudi Arabia. Now, let me stop for a second and go back to nineteen seventy one, nineteen seventy one, when Nixon closed the gold window. At that point, the dollar's backed by nothing. Fiat, right? We've covered that.
21:25
So two years later, Henry Kissinger is sent to Saudi Arabia and he strikes a deal with the Saudis. And he says, you know, we're going to protect you. Let's call it a joint military cooperation agreement, and we will sell you munitions. We will have your back. No one will ever mess with you.
21:41
But for that privilege, you will denominate oil globally in US dollars. This is what became of the petrodollar. So every country on the planet, just about 100% has had to own dollars in order to buy oil through OPEC since 1974. And that is what has made the dollar the world reserve currency after Nixon closed the gold window. So we go to 2021 and we see Russia and Saudi Arabia announced a joint military cooperation agreement the day after we left Afghanistan with their tail between their legs.
22:12
Does that seem concerning to you? It does to me, because what makes the dollar the world reserve currency is the protection of the Saudi Kingdom by and large. Okay, the day after that, Russia announces it with Nigeria, who has subsequently already agreed to sell their oil to China for a petro yuan bond. That bond denominated in yuan is immediately convertible into gold on the Shanghai Gold Exchange. Think of how Iran avoids US sanctions.
22:40
Think of how Russia does it sell their oil or their natural gas to China for a yuan denominated bond, which is immediately convertible into gold on the Shanghai Gold Exchange. Bang, you're holding gold. You're outside the system. Gold is now what? A tier one reserve asset.
22:54
Oh, how that happened? So you have you have a what I believe is a massive announcement that our media hasn't told us about the day after the announcement of Nigeria. This is three days in a row. You can Google this to the Putin announces that all nuclear powered submarines in the Russian fleet carry hypersonic ICBMs. They after that, the State Department comes out and says, we are terribly concerned about this new technology of missiles that go Mach 10 hit the ground at the speed of an asteroid can't be knocked down.
23:27
That was their way of saying, don't mess with us like you did with Saddam Hussein and Omar Gaddafi. So, you know, now we're heading down this path of de dollarization, and we're getting to the point where you and I stopped. And that would have been the weaponizing of the dollar. And when Russia was kicked out of SWIFT. I said, this is a very bad deal.
23:49
This is huge because the question that I need to ask people, I want them to think about is and by the way, before I do that, how many people know that Saudi Arabia and Russia signed this agreement? How many people know that Nigeria did? Big deal, right? Our media is not telling us what's important. And wait till you find out what's happened since we've last spoke.
24:09
You won't believe it. Haven't heard of it, I'm sure. But anyways,
24:13
Speaker 1: I was so know, was like foaming at the mouth to get you on because, I mean, the last show I did with you, I learned so much. And follow this stuff. But it's you know, aside from me trying to look at zero hedge or, you know, dollar vigilante, it's hard to find what's really happening, especially for me. Look, I'm not a finance guy. I'm trying to learn as much as I can.
24:33
But I know the last time I had you on, it's just like my whole head split open after that.
24:37
Speaker 2: Well, you're a common sense guy, and that's what I like. Country. And that's what's lacking in our administration is common sense. And which leads me to the point, common sense speaking, the weaponizing of the dollar has consequences. Were they intended or unintended?
24:55
Are our leaders that stupid to know that by kicking Russia out of Swift as the world reserve currency, you do not have the privilege to tell the world who can and who cannot use currency. That's just a big mistake, right? So. By kicking them out of out of SWIFT and sanctioning them and freezing their assets, we pushed them right into the open arms of the Chinese and the system, the cross interbank payment system.
25:24
Speaker 1: So this is basically their version of SWIFT, right?
25:27
Speaker 2: Correct.
25:27
Speaker 1: Which allows international bank transfers.
25:30
Speaker 2: That's right. To move freely outside of the SWIFT system. And you're seeing a lot of countries sign on to it. Much to the chagrin of The U. S, including many of the European countries.
25:41
So you see this this deal. Now, I did forget one crucial moment I should have backed up because this is so that might be number two. Let's go back. Let's call the Saudi deal number three, because number two was the Belt Road Initiative. Can't believe I forgot about that.
25:59
That's 2020. We really see the Belt Road Initiative expand. It's the largest infrastructure project in human history. It's China's way of connecting Asia, Africa and part of Europe, the old Silk Road route. That's 75 of human population.
26:13
On the Belt Road, they're settling all of the contracts with the Chinese digital yuan, which has already done north of $15,000,000,000 in successful transactions. So you are indoctrinating three quarters of human population just between this endeavor into a new world reserve currency or a currency. Let's not call it world reserve just yet, but a new currency system that you surfs the dollar 70 5 percent of human population. So that's number two. Number three is the Saudi event.
26:43
Number four being the weaponizing of the dollar and the consequences, because everyone is thinking, are we next? Over the last six months, China has sold $100,000,000,000 of our treasuries. Do you think they want to buy our treasuries anymore when they have their eyes focused on Taiwan? They're thinking, are our assets going to be frozen? Are they going to sanction us?
27:07
So I think you're seeing a reaction by countries who are wondering if they're in the crosshairs of The US and their sanctions. And so they are we are fostering a coalition and a desire to de dollarize. And that's kind of where you and I left off more or less. And I was surmising that, look, you know, you got a Chinese digital yuan, a currency that is beta tested over two years, nearly 15 to 20,000,000,000 in successful transactions. You have all of these countries coming together.
27:40
I had surmised for over a year now that we would see the BRICS nations issue a new gold backed digital currency. That's really where I think we are going. But that's always just been supposition. You know, the RICs and BRICS Russia, China, India, South Africa. These are the countries that accumulate the most gold, produce the most gold.
28:00
To them, it's been wealth and money for thousands of years. They don't mess around. And so if you think about who has the ability, there's a guy named Zoltan Posar, who's the the repo market guru that used to work at the New York Fed, who recently came out and said, we are now entering a period of Bretton Woods three, a system based upon commodities, not debt instruments. And if you think of who has all the commodities, yeah, we have quite a bit here that we're not able to really go after for whatever reason. But if you think about where the rare earth metals are, it's all China.
28:33
The over preponderance of platinum and palladium, well, that's going to be Russia. The the precious metal in
28:40
Speaker 1: South Africa
28:42
Speaker 2: China and and phosphorus and fertilizers in Russia. So these are the countries that have the majority of the commodities. Right. And I have been assuming that there would be a coalition that that they would issue a currency to challenge for dollar hegemony. I've been saying this publicly really for over a year now, actually, since March of twenty twenty, when Nancy Pelosi came out and said viruses can live on currency in our House subcommittee finance bill and things started to move away.
29:12
I just knew that there was going to be a problem with the dollar retaining its World Reserve status. So if we if we stop right there. In and of itself, those are amazing things. And I think when you realize that what makes the dollar world reserve is the fact that Saudi Arabia has accepted our protection, in essence, for the fact that OPEC would denominate oil globally in dollars. That's been the linchpin of the of the World Reserve status for the dollar.
29:43
Speaker 1: So basically, it's like the Fed, which, you know, is not the Federal Reserve is not a US institution. It's a private bank. Right? They have created this fiat currency, this dollar, and they've done these corrupt deals. I'm sure there's this deep, deep layers of you talk about Kissinger and Saudi Arabia.
30:01
I can only imagine the kind of deals that are happening in the back doors of that conversation to prop up the dollar artificially, to take it off the gold standard so that the Fed could print unlimited money, basically, which we've seen happen. You know, they're printing trillions and trillions of dollars, funding our wars and everything along with that. It's a fiat currency. Actually, there's an article actually, Kate. You can pull the article up for me really quickly.
30:24
There's an article talking about the five cycles or the five stages of a fiat currency's life cycle. I'm gonna pull it up for you really quickly here, which is right? It goes through stage one, you know, which is this new fiat currency. Everyone's optimistic about it. It goes into stage two where you start to have some restrictions.
30:40
Stage three is the gambling stage where excessive liquidity makes its way into the stock market, the housing market, which is what we're seeing. Four is the penultimate stage of the fiat cycle. Sluggish growth in Western countries force financial institutions to make money through other means, you know, than financing and brokering fees. And then stage five occurs when it's hyperinflation, which is the worst economic phase of the fiat cycle. In stage five, the currency becomes worthless.
31:08
And this is not just the US dollar. Every fiat currency that's come about is somewhere in this cycle, but we've never seen fiat currencies that last indefinitely. And so am I correct in understanding that with where we're at right now is we're on the edge of seeing the end of this US dollar as as a fiat currency in other countries around the world have recognized that, a, that we just keep printing money out of nowhere, sending it all over the all over the world, whether it's Ukraine or Pakistan or all over the place to fund who knows what kind of illicit activities and gun running and everything. But basically, this has been a a key tool of the cabal to gain, you hegemony over the world, and all these other countries are saying, you know, we're done with this, and they're teaming up with China at the center of that to take us that basically, to supplant that as as the world reserve currency. So what and all the writing is on the wall, right?
32:10
It's like the title of this episode, the thumbnail's about there's a storm coming, there's an economic storm coming. It's like we're seeing every single sign. We're seeing a dark black clouds over the We're seeing massive waves. We're seeing lightning with the winds picking up. What's next in this?
32:25
Speaker 2: Yeah, well, and to your point real quick, I would say that we are now transitioned to stage four, the sluggishness. Because if you realize that from the start of the pandemic until today, the Federal Reserve has printed more money than it has in the entire existence of The US. It took over two twenty seven years to print over $6,000,000,000,000. They did that in the last two years. So
32:49
Speaker 1: it's almost like they know something is coming and they're trying to get as much out of it as possible.
32:54
Speaker 2: And I'm going to that's what I before I even tell you what goes next, I want to give you my thought on that. So. If they realize, look, these are the smartest people, right? They may not be very moral or their their moral compass is upside down, but
33:10
Speaker 1: we're spinning their
33:12
Speaker 2: broken half or burning. Yes, right. Exactly. But they're intelligent enough to understand the way this works. And so.
33:19
How do you reset the system? I mean, when Klaus Schwab said that, I wondered, how could you do that? I thought he was foolish. Well, first and foremost, you create a huge amount of money and keep interest rates at next to nothing, where hedge funds, in essence, can can borrow money at next to nothing and blow up asset prices where, you know, stock portfolios double in a year, house prices double or triple in a year, cryptocurrency's go up tenfold. They created so much money and kept interest rates so low that all of that money found its way into speculation and created massive distortions in price discovery, misallocations of capital and resources.
34:04
They call this the crack up boom in Austrian economics where this massive expansion in credit and capital, low interest rates creates massive distortions. And I think that
34:13
Speaker 1: Is that distortion basically is it almost like we're in the biggest bubble we've ever been in? Because all that money they're printing we know it's not coming into my pocket and your pocket. It's not going to the average American. Yeah. Okay.
34:27
Get your extra $1,400 for a stimulus check. Okay. That's nothing. So, basically, what's happening is that so this is what's driving it's like it's like, how is it during the pandemic we're seeing house prices go through the roof? Stock market's doing fantastic.
34:41
It's because there's so much liquidity being pumped in the market that it looks like everything is booming, but is it all just one giant bubble from the Fed's just turning on that tap a dollar?
34:53
Speaker 2: Absolutely. And keeping interest rates low. And, you know, you're talking about the the fact that you have the financialization of so many of these assets like home prices, where a hedge fund can buy 4,000 single family homes and sell and do them through Airbnb and collect money on it. I mean, there's just 1,000,000 ways with all of this easy money and low interest rates that created these huge distortions in in in valuations. So that's point number one.
35:28
Point number two is, you know, there was recently a report that just came out by the National Bureau of Economic Research, and they said, look, in June of nineteen eighty, we had a 13.6% inflation rate. And if that was measured, the way we measure it today would be 9.1%. Well, that's the inflation number that we've had for the last few months. I know that they're telling us it's a little bit lower right now at 8.5 or 8.6. I don't believe anything that they say because, you know, they've massaged and changed the way that they gauge inflation.
36:02
They've stripped out food, energy and housing because you don't have to live anywhere. You don't have to eat or drive or heat or cool your home because you don't live in a home. So let's just pull it out and let's call inflation 9.1%. So in essence, that 13.6 in June or in June of nineteen eighty would be 9.1%. Paul Volker got tough on inflation.
36:23
He was the former Fed chairman back then, and he raised the federal funds rate to nineteen and three quarters percent. The way you stop inflation as you raise interest rates above the level, he didn't just raise it. He really raised it above the level of an inflation and stopped inflation dead in its tracks. That's getting tough on inflation. Right.
36:42
We talk about our Federal Reserve and as a premise to everything we're talking about. Before I tell you what's next, I would simply say to you, our Federal Reserve does not want to be written about in history books as the as the entity that blew up the American way of life. And this is why I wonder, was all of this intended or not? Follow me here. So they talk about getting tough on inflation, right?
37:03
They've raised the federal funds rate to two and a quarter percent. That's not getting tough on inflation, even even a little bit. We talk about their quantitative tightening, right? They said that they were going to quantitatively tighten. They're not tightening anything.
37:22
In fact, if you look, they've only sold in the nineteen weeks since they announced that they were going to start quantitatively tightening. They've only reduced their their holdings of government treasuries by 40,000,000,000 and only 21,000,000,000 in mortgage backed securities. They said they were going to do 60,000,000,000 of government treasuries and 35,000,000,000 in mortgage backed securities a month. So that's 95,000,000,000 a month. They've only done 61,000,000,000 in nineteen weeks.
37:51
They're not selling those assets because as they do sell those assets, they are inversely related to interest rates. Rates will start to spike. So they've only got they've raised rates to two and a quarter percent with 9% inflation. That ain't tough on anything. That's pussyfooting because the negative real return in that equation is 6.75% negative.
38:12
So who in their right mind would buy treasuries like China selling 100,000,000,000 of them in the last six months? So I surmise that they do not want to be the ones that like the fuse. Yeah, they're talking tough. Their rhetoric is sure tough. It's like that guy that says, if you would have said one more word, I was going to knock them out one more, you know, never was going to do it.
38:34
He just wanted to seem tough. Well, that's what they're saying about. That's what my view is of the Fed is that they know, look, their their balance sheet in 02/2008 was 800,000,000,000. It's just under 9,000,000,000,000 right now. And all of the things on their balance sheet will raise interest rates when they sell them.
38:51
Right. Mortgage backed securities and treasuries. So they don't want to sell them. They don't and they can't or they blow everything up. So from a standpoint of where things are going and what we talk about now, it is my belief that the Fed is only doing lip service.
39:08
And so when I ask you, was it intended or not intended? When we talk about when we get to the end of this and talk about, you know, I told you that I thought that this could could blow things up. There could be a reset if Saudi Arabia were just simply to say thanks for the memories, guys. It's been great. But we're going to issue oil in other currencies.
39:33
And if that happens, every currency on the planet, every country on the planet that has had own dollars to buy oil will dump them. And it's just like that seen in trading places, sell more to Marcel. So everyone's selling the prices collapsing. The dollar will become a pariah, become a hot potato. Everyone sells What happens when those dollars come home?
39:52
We'll talk about that in a minute. But that's where we left things off. Subsequently, since that, two months ago that that interview, which I thought was fantastic and had the good fortune of talking with a lot of your listeners. We've seen some crazy things happen that support exactly what I'm saying. So let's talk about a few of them.
40:15
We saw the India Iran, it's called the India Iran North South Quarter come about. Well, this this is a free passage basically from Russia in between from Iran to India by Russia. Everyone else has to go around the Suez Canal. This is another deal where if you're part of the group, you can easily get to where you need to go. Trading from Iran to India, who have struck deals on trading for rupee and whatnot.
40:45
This is a big deal. It's kind of part of like the Belt Road initiative. You have all of this infrastructure being created. If you're part of the group, U. S.
40:53
Isn't part of it. U. S. Shipping would have to go around the Suez Canal. But India or Russia or Iran or any of the British nations can go through this North South corridor.
41:02
Big, big, big deal. How about maybe a huge deal? Saudi Arabia says we are contemplating joining the Bricks. What? You kidding me?
41:13
There's no contemplating when you make that announcement internationally, you're done. If you think our president, who can't chew bubble gum and walk 12 feet without falling over, went to Saudi Arabia, he hasn't even had the courtesy to go to the Mexican Texas border. He goes to Saudi Arabia to ask for more oil. I say, I call B. S.
41:34
New bill that they just passed with the inflation bill, it's all about ratifying their green agenda. We are killing the Saudi's way of life. They don't want to give us their oil for a stopgap. We're blowing up their way of life, moving away from the combustion engine, and we're going to go there and beg for more oil. No, he went there to beg for them not to join the BRICS nations.
41:56
But my statement to that is if they make the announcement, we're contemplating it's done. It's the same thing that they went and said we're contemplating selling our oil to China for Yuan, the Yuan denominated bond, which is immediately convertible into the Tier one asset gold on the Shanghai Gold Exchange. So the fact that they said this is huge, maybe bigger than huge. We also find out that Egypt is going to join the BRICS nations, as is Turkey. But Turkey was on our side.
42:26
No, they're going to join the BRICS nations. Turkey came out and said they're going to ditch dollars for dealing with Russia in buying Russian energy. They will use their own currency or rubles. We have India announced that they are we're their largest trading partner. Right.
42:47
But they just announced that all domestic and international trades will be done in rupee, not in U. S. Dollars. And so we have maybe the biggest of them all that came out two weeks ago. You have a picture of Chi and Putin with their arm around each other and say on behalf of the Brix Nations, issuing a new world reserve currency.
43:09
What? Really? So Put it in context, China sells 100,000,000,000 in bonds, Russia and China say they're coming out on behalf of the BRICS to make a new world reserve currency. Subsequently, Iran and Venezuela joined the BRICS. Algeria joining the BRICS.
43:28
You have Turkey and Egypt say they're going to join the BRICS. Saudi Arabia, the linchpin of the dollar hegemony going to join the BRICS. You have gold reclassified Tier one. You have India striking deals outside the dollar, both with Russia, with Turkey, with all of these countries settling in rupee or ruble or gold or other currencies. Do you see the common thread of massive dollarization moving away from the dollar hegemony.
43:57
And I think that you put it all together. I envision a currency that is, as we've just been told, a competing world reserve currency issued by the BRICS nations. Think of the the nearly 20,000,000,000 in successful beta testing on the new digital. Want started with the Olympics, has been funding the Belt Road initiative. What better way to roll out a central bank digital currency than after it's already been tested for almost going on three years successfully.
44:27
And now you get the pledging. Think of all of the ricks and bricks, Russia, China, India, South Africa, Brazil produces gold. Now you're to get Saudi Arabia in there. You're to get Iran in there. You're going to Venezuela in there.
44:39
So you've got oil backing so you can get oil into this new currency. But everything that you get as a commodity backed currency system, what better way to denote the immutability and the veracity of it than on a distributed ledger that works. So they won't make it convertible because the gold proved that convertible currencies convert, but they will peg it to something. And when that happens, whether it be that first or Saudi Arabia saying, hey, thanks. But now we're since we're joining BRICS, we're going to open up oil because remember, we're being protected by Russia, as is Nigeria.
45:14
But Nigeria is also in the Belt Road. So their extension being protected by China. But all of this coalition, we're all together. And you've got three nuclear nuclear countries there with China, Russia and India that are all moving away from the dollar. And you can see it, even India, where their biggest trading partner, now they want to settle in rupee.
45:33
So what is the moral of the story? Moral of the story is that if Saudi Arabia says this, we're issuing oil now in rupee, ruble, yuan, gold and euro and the dollar like that. All of those countries dump dollars globally, dump them to get out of the dollars because everyone's dumping. They don't need them for oil anymore. They don't want them.
45:55
When those dollars hit our shores, if you think inflation is bad now, how about hyperinflation? And this is what I was getting at. Did they know this was going to happen? Did they realize the weaponizing of the dollar would? Would foster this coalition would would incentivize countries to move away, to find a backdoor?
46:14
I mean, if you were Russia, wouldn't you? I would. I'd find a backdoor and that backdoor is in the open arms of these nations that are all fighting the same fight. You know, what's the old argument? Even if you don't get along, you're the enemy of my enemy.
46:27
So we're friends right now. And even if they don't get along, it's fighting a bigger fight. The dollar hegemony, the Western hegemony, the Western hypocrisy. I mean, think of the hypocrisy. What if instead of Russia and and Ukraine, it was U.
46:42
S. And Mexico And Russia gave $90,000,000,000 Stinger missiles drones and provided the intelligence on what US cities to bomb. I mean, is that not a declaration of war after they approached all of our assets globally, kicked us out of the SWIFT system? Hell, yes, it is. And so they want to be away from the dollar hegemony, the hypocrisy of our administration.
47:06
And I don't blame them. I mean, it's one thing to be a proud American, but look at it from the other side and you can see why people are doing this. And my question is, are they that stupid to think that this wouldn't happen or did they do it purposely? Which gets me back to my initial thought. If the Fed doesn't want to raise rates like Volker, even though the inflation rate is essentially the same because they don't want to light the fuse.
47:29
What if you create a villain and that villain by weaponizing the dollar, incentivizing 90% of human population? This would be, by the way, the BRICS nations and all the other countries that are joining between 8590% of human population moving away from the dollar, you've incentivized the dollarization on a global scale. If they announce that, hey, thanks for the memories. But now we're doing it in other currencies because we're being protected by China and Russia. What happens?
47:58
Dollar comes flooding home. Massive inflation. What happens to interest rates? Straight to the moon.
48:03
Speaker 1: So you so right now, what they're saying inflation is let's say they're saying it's around 10%. Right? But, you know, if and when that happens, which to me, it almost seems like it's a when, not an if. It's like, say say the US dollar was standing on 10 legs. Like, they've knocked out nine of them, and the tenth one has an axe kinda heading towards it.
48:22
Speaker 2: It's wobbling.
48:23
Speaker 1: Yeah. So what like, what's inflation gonna look like here? So say I've got a hundred thousand dollars sitting in a savings account that's still sitting in the US dollar. Right? So with 10% inflation, it's all it's now worth 10% less.
48:37
Maybe it's worth closer to $90,000. What happens when that unfolds?
48:42
Speaker 2: You'd see price discovery is impossible. My dad had a friend who's a car enthusiast that was in Argentina. In the midst of their hyperinflation, it was in a Ferrari dealership and and they were erasing the price every half hour on chalkboard and issuing a new price. You you, I think, haven't seen anything yet. When that happens, you see the value of the dollar precipitously decline.
49:10
And maybe this is why they you're going to have bail ins where banks fail. You're going to have money market gating where you can't get out. These are laws that were put in in 02/2009. Maybe this is why, to your point, you're seeing record insiders selling as as there's this new wave of, well, maybe they're going to slow down raising rates because inflation's come down a little bit on gasoline and energy. So now I'm jumping back into the water.
49:39
Well, as the insiders exit stage left, Massive insider selling over the last few months as people have slowly started last few weeks as people slowly started to get back in thinking that that's going to pivot. And so that's any news is good news as far as the markets are concerned. But, yeah, that's where you see valuations of everything become unrealistic and the dollar precipitously lose its value. But the byproduct of hyperinflation, more more relevant to this discussion, is a massive rise in interest rates. When you have a currency that is being inflated away, interest rates have to rise to compensate for the loss of purchasing power or no one will hold your currency and everyone will dump it and becomes a run on the currency.
50:25
And it's just brief.
50:27
Speaker 1: It just spirals out of control, doesn't it, though?
50:29
Speaker 2: That's right. And so you will see a spiking of interest rates. So this weaponizing of the dollar does the dirty work for the Fed if they are maniacal enough to be on the same page as what's his name, Schwab, who says there'll be a great reset. Well, how do you reset it? You put you print more money in two years than in the history of the country.
50:53
You blow up asset prices to record levels by keeping interest rates low, And then you weaponize the dollar and and force everybody out. And at the same
51:02
Speaker 1: time, and you'll be happy. Right.
51:04
Speaker 2: And we've all built
51:05
Speaker 1: back better.
51:06
Speaker 2: Right. And as rates spike to the moon, everything collapsed. And what's unusual is the is the fact that stocks and bonds and real estate are all at all time highs and all inversely correlated to a rise in rates. Stocks and bonds used to be inversely correlated, not anymore because the rates are so low. So it's the writings on
51:25
Speaker 1: the wall that we're entering into the perfect storm. So the real question is that where's the lifeboat? How do we how do we get through this?
51:34
Speaker 2: So all right. Now I want to take you on a little tour of the last four months. And this is just a little bit of speculation on my part. But it's very interesting, and I'd like you, this is a thought experiment that I think you'll find really very interesting. To me, the life raft has always been precious metals, and I sell them.
52:04
I own one of the largest precious metals companies in The United States. It's hard to come across to people that you try to be objective and you're not talking your book. I don't need ruin my reputation by talking my book. I have done this for thirty three years. We're a very successful company.
52:24
I'm very comfortable in my way that I see the world. And I would like to share it with people and let you make up your minds for yourself. Yeah, I'd love to work with all of you out there. But this isn't about talking my book. This is about you tell me where there's a better place to put it.
52:40
So one of the things that people say is, well, if this is the case, why aren't precious metals prices higher? Well, we can certainly point to the manipulation of the market. Take a look at the guilty verdict yesterday of the three traders for JPMorgan, including Michael Nowak, who was the head trader of the desk. They all they avoided RICO charges, which I think is is B. S.
53:05
But they all they're all going to prison for a long period of time, probably for spoofing and manipulation of the metals market. And the year or two before that, JP Morgan, their their employer paid a $920,000,000 fine for manipulating the market. This is an extension of that, and RICO charges were applied. And although they were acquitted of RICO charges, they were found guilty of massive manipulation. Well, that's part of it.
53:32
But the biggest takeaway from that is that it's been the commercial banks my whole career that have been suppressing the price of gold and go back to the commitment of traders reports. Normally, as I said, you have the hedge funds and the commercials. The others came out of nowhere. But the commercials are the ones that are always capping the price of gold, and silver always. So first of all, I would like to take you back to March 8, I think it was seventh or eighth, which was the high point for gold all time high, also coincided with the nickel market failure on the London Metals Exchange, where for the first time in the one hundred and forty year history of the London Metals Exchange, they invalidated a trade.
54:22
And that trade was a very large short position in nickel, where a Chinese billionaire had a huge bet against the price of nickel. Price spiked against him. He would have been bankrupt and lots of people would have made a lot of money. But the exchange came in and said, this trade is invalidated. In my opinion, rendering the London Metals Exchange as a fraud in an exchange like this.
54:50
The way it's supposed to work is that if the if the if the trade bankrupts the client, then the broker who brought the trade to the exchange is required to pay for it. If he can't do it either, then it's the members of the exchange who get together and make the exchange whole to maintain its integrity. Well, they didn't. They bailed out the Chinese businessman. He was made whole.
55:10
They validated all of the trade, screwing everybody else, and in my opinion, broke the integrity of the system. Well, from that day, I believe the commercial banks received a wake up call. Let me tell you why. It was the all time high in gold at that point. And silver, it was as all it was the high for almost a year into 2021 prior to that.
55:33
And subsequently, I believe that the commercial banks who on COMEX hold these huge short positions in metals that have been holding them down, we're told time to get your house in order because your short positions are far greater than in concentration and in size than the nickel market. And if this moves against us, you're going to blow everything up. So let's keep that in context. I'm going to take a look at something here. I'm going to read something to you because I don't have this all by memory.
56:01
So my eyes won't be on the camera for this part. But some 60,000 since that day, Okay, since that day that this deliberately orchestrated sell off by the commercial banks. So are you able to pull up a chart, by the way, and show something? Absolutely. Where should we go?
56:19
I'd like you to Google OCC. Gold derivatives 2022 I'm to show this before I before I continue. OCC Gold derivatives 2022 and then hit images and you're looking for a chart with a big, long orange bar on the right hand side. Should be one of the very first ones you see.
56:43
Speaker 1: On the right hand side of the orange bar across the top of it.
56:46
Speaker 2: Orange bar on the right hand side of the graph. OCC twenty twenty two Gold Derivatives.
56:54
Speaker 1: Okay. Just one second. Okay, yep, there we go. Let me pull this up.
57:04
Speaker 2: I pulled that up. I want to show people this.
57:06
Speaker 1: Looks like something big happened in that quarter.
57:09
Speaker 2: Yeah. And that's a twelve year chart, right? So and think about it. January, February, March, March eighth was the day this happened. So to pull that up so people can see it.
57:20
Speaker 1: Okay, I've got it up now.
57:22
Speaker 2: Oh, I don't see it. Oh, there it is. Okay. All right. That's a twelve year chart that shows the derivative position of these banks, right?
57:29
The commercial banks look at first quarter twenty twenty two, the amount of precious metals derivatives that they threw at this price. You have inflation at forty year highs. You have a war going on. You have chaos in so many ways and an administration that seems lost all of these reasons. Gold and silver should be going to the moon.
57:52
Look at what the commercial banks did first quarter twenty twenty two. Okay, now I lay the foundation. I believe they were told, get your crap in order right now. January, February, March. That's first quarter.
58:04
I believe what they did was the commercial banks, they jammed the ball down the hill so hard by suppressing the price of gold and silver enormously hard that they what they did is they set a bear trap. Let me explain. Since that day, where we've seen gold fall by about 30%, same with silver, some 60,000 net contracts in silver over 300,000,000 ounces, 170,000 net contracts in gold, 17,000,000 ounces, over 33,000 net contracts in platinum, 1,600,000 ounces and 67,000 net contracts in copper. Over 838,000 tons have been bought back by the commercial traders. And so you're talking a buyback that the amount of purchase repurchase is the largest that they've ever done in history, where they are massively buying these contracts back.
59:08
How do they do that? They jam the price down with those huge amount of derivatives to push the price down. The hedge funds on the other side capitulated and the hedge funds have been selling everything. So when the hedge funds sell, they push the price down. Who takes the other side of the trade?
59:25
The commercial banks who have all of these old short positions they need to get out of. So they incentivize the hedge funds are saying, what the heck? I mean, there's a war. There's all time leading a forty year high inflation. Why are we holding this stuff?
59:40
Sell it, not only sell it, go short. You have the largest short position and selling of long positions by the hedge funds, the money mark, the managed money that we have ever seen in the history of the COMEX. Conversely, we have the smallest short position ever in the history of the COMEX ever by the commercial banks ever right now. These are the most well funded and informed client traders on the planet who are always short, always my whole career short, stopping the rise in gold and silver. They have flip flopped.
1:00:17
It's the jujitsu move. Now we'll see how it plays out. You see what they normally do, Seth, is that the commercial banks have enough firepower that they can short the rising market and overwhelm the bullish sentiment and it flip flops and goes the other way. This is what they've been doing forever. They sucker in the head.
1:00:35
The hedge funds will let the price go up. Then they short the rising market, drive the price down, rinse, wash and repeat. It's this vicious cycle, which has always been stupid to me why the hedge funds never wise up. But, you know, think of GameStop and AMC. Everyone shorted a falling market, drove the price lower.
1:00:53
If you short a rising market, you better have really deep pockets. The commercial banks do. But the commercial banks for the first time in the history of the COMEX market, in the history of the COMEX market are long and silver and almost long and gold. But they are because they had a much bigger position in gold short. They're whittling it down and they've used this huge amount of energy to push it down the hill hard and aggressively where the hedge funds have capitulated and they are going short.
1:01:27
And who takes the other side of those short trades? The commercial banks do. So you have the biggest amount of short covering by commercial banks in history, the comments and the smaller short position in the history of the comments. I want to tell you that they've done this in my career twice before, but nothing like now. In 02/2008, when they drove the price from 21 to 9 on silver and a thousand to 700 in gold, they did the same thing by dropping their short position, but nowhere near as short as small as it is now, nowhere near.
1:02:02
But just so you know, in the ensuing two and a half years, silver literally went up fivefold. And then they did it again in 2020 when they drove silver from down to $11. They their short positions were quite small, but nowhere near as it is right now, nowhere near. And in the ensuing six months, silver went.
1:02:27
Speaker 1: Basically so and that's okay. So if I'm understanding this correctly, it's like what we're on the edge of experiencing are potentially two simultaneous events. Right? Is the the dollar no longer being able to sustain? They're they're trying every they're duct taping it.
1:02:46
They're hair spraying it. They're using zip ties to hold the dollar together, squeeze as much out as they can before it really collapses. But they're also putting that same effort into suppressing the price in gold and silver so they can scoop up as much as possible because they know that there's gonna be an event that triggers where the dollar collapses, precious metals go through the roof. Is that my understanding? Am I correct?
1:03:08
Speaker 2: Right. And now let me just let me add the exclamation point to it. So you have the commercial banks flip flopping, going long, suckering the managed money into record short positions. So as the price rise, think of squeezing, think of margin calls that drive the price up. So you have that.
1:03:25
But here's one last piece of the puzzle. The the other reportable that I talked to you about over the past year, they have taken off of the exchange 103,079 gold contracts. That's 10,307,900 ounces or 321 tons of gold. The most sophisticated, well funded, well informed private investors, sovereign wealth funds, family offices, people who know the central bankers are draining COMEX. Just the other day, I saw something in silver that's mind boggling.
1:04:03
Right. So the commercial banks, they don't always want to take it off of Comex because it's reported and people can see what's going on. So just talking SLV, right? SLV, which is a huge fraud and it's the large first or second largest stockpile of silver in the world held by JPMorgan, a bank who just, you know, their head trader is going to prison for manipulating the market. They paid $920,000,000 fine for doing it, and they're still allowed to run the world's largest silver trust.
1:04:34
So keep that in context in SLB. And so if you own SLB as a as a person who owns in your retirement account or whatever, you can never take possession of the silver out of there. Only the commercial banks can fund it. It's called baskets, huge amounts in the past week. 20,000,000 ounces of silver have been taken out of SLB backdoored by the commercial banks in the past month, 60,000,000 ounces.
1:05:04
And in the past four months, since the price has been driven down, since the commercial banks have flip flopped, Hundred million ounces have been taken out of SLB. What you are seeing in conjunction and the same thing is happening on the one.
1:05:18
Speaker 1: Something really big is brewing.
1:05:21
Speaker 2: Yes, they're flip flopping. They're going long. They're taking possession. They're using the suppress price to run misdirection and run cover for the acquisition. I don't know what happens tomorrow.
1:05:33
I don't know if the price rises, if the commercial banks come in and start to short it again and rinse, wash and repeat. Or maybe they sit back and they let it run and maybe they actually buy more longs and the price goes to the moon as all of those hedge funds are massively short, historically short experience or religious experience when they get margin called and the price starts to go parabolic. So could it be? Remember, at the end of the story, the little boy does see the wolf. And I've always said one of these days they will make more money to the upside than they ever did by suppressing it.
1:06:08
And when you realize that there's the only way to successfully manipulate a market over a very long period of time, set this to push it in the direction it is going. It would seem to me very unwise and very dangerous in a world that is moving away from the dollar, where the dollar could potentially lose its reserve status. And a country that is experiencing massive inflation and all of these issues that could very quickly change things to be short. Huge amounts of gold and silver seems very dangerous to me.
1:06:42
Speaker 1: It does. So, Andy, we're gonna pretty soon here go over to Rise TV only for the q and a. And I have one question that I'll preface and I'll ask it over there. But before we do that, I want you just to give people your contact information. So for folks who are watching look, you know, I brought Andy on because Andy knows his stuff, and he's he's intelligent.
1:07:02
But just so happens to be that you have a very successful company for people that are interested in buying silver, buying gold, doing IRA transfers, the whole nine yards. So can you just let people know how to get ahold of you? And you're also that's I mean, that's how I got ahold of you. I saw you on some show, I called you up. I sent you an email.
1:07:18
And, you know, an hour later, was talking to you on the phone. So how can folks get ahold of you?
1:07:23
Speaker 2: Sorry about my dog barking in the background. I heard someone knock on the door out there. So we have a new website that will be done in the next two to three weeks, which will be fancy schmancy website that will allow people to to buy online to a certain extent. And that'll obviously is MilesFranklin.com. Our current website, the online store is inoperable.
1:07:44
Speaker 1: Here's your I pulled your current website up so folks can see it.
1:07:48
Speaker 2: Yep. And you're able to send us an email at info@MilesFranklin.com. Say Seth, man in America sent me, we will give you an updated price sheet. We will answer any questions that you have. You can say you need to talk to me.
1:08:01
I'll call you back. Or one of my brokers, all of which are some of my oldest friends in the world going back to elementary school. We have a very tight knit group. Everyone that works for my company is either family or two thousand 30 year long friends. We've never had a customer complaint.
1:08:17
We're A plus rated with the Better Business Bureau, one of only 27 U. S. Mint authorized resellers. I left my corporate office in Minnesota, Seth, because this is a federally nonregulated industry, even though I moved to Florida last year, because it's the only state in America that regulates what is federally nonregulated. We've never had a customer complaint or licensed or bonded in a federally nonregulated industry where U.
1:08:40
S. Men resellers and we will not be undersold. I think that your listeners will find that our prices will be as good or better than anyone in The United States. We are the envy of the storage industry with our Brinks program, we can help with IRAs, anything that your people need. I wholly respect your relationship with Noble Gold.
1:09:00
They're a fine company. We're happy to help anyone that would like to get another opinion on things. It's important. Yeah, yeah. And but nonetheless, I think we'll stand up on merit and on price.
1:09:17
Your listeners will not be the first customer complaint we ever have, and I'll make sure that they get the best price in the country. And so right now, we do things the old fashioned. And thank you for letting say this. We do it the old fashioned way. We do it by contacting you.
1:09:31
We will have the online ability, but we'll make it worth your while, whether it's an IRA rollover, a straight up purchase delivered to you, stored to you, whatever you want, we'll make it worth your while. So it's info at Miles Franklin, say Seth sent me and I will make sure that you guys get the very, very best price in the country, personalized attention and would love nothing greater than the opportunity to to work with your listeners.
1:09:59
Speaker 1: Fantastic. Thank you. So what I want to talk about over on Rise TV, I saved this particular question for there because right now we're on YouTube and Facebook and Rumble. Know, sometimes I say these little more sensitive things where I'm a little more comfortable behind that, the paywall over there, or for people they wanna try it out. There's a free trial link in the description below.
1:10:17
But I wanna talk to you about the these new 87,000 IRS agents and how you see playing that out and how gold and silver can play into that because and again, this this gets to be a little bit of murky waters, but I think it's a really, really important topic. You know? Because it's like, okay. Am I better off having a little treasure chest buried in my backyard, you know, versus stuff sitting in the in the bank account? So I want to get your opinion on that and how that how you think that might unfold with the this new army of stormtroopers that are being told to, you know, learn how to shoot a gun and be ready to use deadly force, which is frightening.
1:10:56
But then I also wanna get into a q and a session where all the folks that are asking if you had any questions at all for Andy, even if it's, you know, hey, I've got this much money in my IRA, and I'm not sure if I should pay off my house or buy gold and silver. Any of those kinds of questions, please bring them And again, you get a free trial. There's a link in the description below the video. So we're happy to have you for that, you know, just for this session. But if you want to stick around and join Rise TV, it's $9.99 a month.
1:11:25
And you're really, really helping us to keep putting out this content and this important information because we're being targeted, you know, as any other, you know, truth speaker putting their face out there, we're being targeted, demonetized, etc. And so this is how we can do this full time. So so folks, as I said, the link is in the description below. So Dom, you can go ahead and cut the public feeds. And we'll jump over just only to Rise TV.
1:11:49
And so thanks, everyone, for for following up to now. So, Andy, now that it looks like we're we're only on Rise TV. What do you see playing out with this