Latest / Man in America Podcast / LIVE Q&A: How to Survive Economic Collapse /w Dr. Kirk Elliott

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LIVE Q&A: How to Survive Economic Collapse /w Dr. Kirk Elliott · Man in America Podcast

• 2:22
  Seth Holehouse: Ladies and gentlemen, welcome to Man in America. I'm your host, Seth Hulghouse, and we are coming to you live. And tonight, we have a very, very special show planned for you. I've got my guest, my good friend, doctor Kirk Elliott, and we're gonna be diving into all aspects of global economy, preparedness, finance, the stock market, de dollarization, a whole, you know, number of things. But most importantly, this is gonna be your chance to ask the questions.
• 2:50
  So, you know, doctor Kirk Ellet, he's got two PhDs. He knows global finance and global economics, precious metals better than anybody that I know, and so we're gonna be diving in. I've already got some questions that we took earlier throughout the day on social media, mostly through Twitter and Telegram. We'll be monitoring the chats, you know, tonight. So if you do have questions, please just ask the questions in the chats.
• 3:15
  What I ask is if you can preface your your, comment with an all caps question. That way, it's easy for us to find to make sure we get to your questions. So without further ado, let's go ahead and bring on our guest, doctor Kirk Elliott. Kirk, it's good to have you, man. As usual, thank you so much for being here with us tonight.
• 3:32
  Dr. Kirk Elliott: It is so great to be with you.
• 3:35
  Seth Holehouse: And and, you know, we're live. We're actually on the homepage of Rumble right I mean, we've we've been doing shows for years now, and it it's it's pretty exciting actually. We do finally doing our live q and a. So again, thanks for being here, man. And I guess I'll start the discussion off with, you know, we I I called this show surviving economic collapse, And it seems like it may be a little bit extreme to talk about economic collapse from some people's perspective, but to me, that's actually more normal than talking about the weather these days, which is so unpredictable.
• 4:10
  But why don't you just, you know, give us a a a few minute, you know, kinda elevator pitch on why you think that we might be facing some sort of economic collapse in, let's just say, the next five or ten years? What are the indicators that you're following? They're saying something's just not right.
• 4:28
  Dr. Kirk Elliott: Well, you know, it's not the usual economic indicators. It's not like inflation or CPI or unemployment. It's bigger than that. It's it's. It's kind of this paradigm shifting moment, Seth, of everything that everyone that's basically alive today has known has been The United States as being the reserve currency of the world.
• 4:53
  Because in 1944, which was eighty years ago So let's say you were 20 when that happened. I mean, you're 104 right now, right? So really, everybody that's alive today has known The United States as the reserve currency, meaning international settlements between countries have been traded in the US dollar. Go to the early 1970s when Nixon put us on the petrodollar, that actually intensified that status to, wow, we were the kingpin of the world. Even all oil settlements were traded in U.
• 5:33
  S. Dollars. And what did that do? I mean, there's consequences to our actions, both good and bad, right? So in a good way, that made us the world's hegemon economically, meaning the kingpin, the ultimate thing dollar that was traded for everything in the world.
• 5:53
  So that created built in demand for our currency. Right. So every time Congress would go to the floor for a vote to raise the debt ceiling, to extend benefits for entitlements, to fund infrastructure, Department of Defense, agriculture, any kind of bill, any kind of spending, they could actually almost easily do it. Why? Because we had built in demand for our currency.
• 6:22
  It's like, all right, we can spend like drunken sailors. It doesn't matter because the rest of the world is going want our currency, right? So, that's what happens when you're the world's reserve currency. But as of January first of this year, and I think, Seth, for all of your listeners who have heard us a bajillion times, but for the new ones that are on this this show. So January first of this year was a paradigm shifting moment for the U.
• 6:53
  S. Dollar, and that is we actually lost petrodollar status because the BRICS nations, which rose up because of what Putin said in August of twenty twenty three. He said, we're gonna de dollarize the world. And he was very confident in that. Right?
• 7:12
  So so how could he be confident in that statement? Did he know something that we didn't know? I think he did. Right? Because January 1, he added Saudi Arabia, The United Arab Emirates, Iran, Argentina, and a host of others, basically call it the OPEC nations.
• 7:30
  They added to the BRICS nations, so which is Brazil, Russia, India, China, South Africa. Right? So now it's BRICS plus plus plus, and that amounts to 50% of the world's population as of today. But they've got over 20 countries that want to be members of the BRICS consortium of countries. So moving forward in pretty short order, that 70 to 80% of the world's population are going to be part of the BRICS nations.
• 8:03
  When we have trade agreements and bilateral trade agreements and things of that nature, if it were between, let's say, the Dominican Republic and French Guiana, two insignificant countries. It's like, who cares? Right? It doesn't matter. But this is more than 50% of the entire world are part of this trade balance, right?
• 8:29
  So now we've got an issue because when they're de dollarizing the world, when they're taking all oil settlements away from the US dollar, every time Congress meets and they say, you know what, we have to raise the debt ceiling. We have to fund this expenditure for education or for defense or for infrastructure or for Social Security, Medicare, Medicaid, whatever. Now they have to think about it, Seth. They have to think about, we're no different than any other country in the world. We no longer have built in demand for our currency.
• 9:07
  So every time we print money that we don't have, we cause inflation. What's what how do they slow down inflation? By raising interest rates or I mean, so so the only other option that they have to slow down inflation is to decrease the money supply. Well, they're printing money. They're printing money to fund all this stuff.
• 9:29
  They can't diminish the money. So therefore, interest rates have to go up. So contrary to what we're hearing on mainstream media and the news, interest rates are going to have to go up. Now, like we've we've talked about on your show maybe half a dozen times, they probably will lower interest rates once before the election so they can say, look, we said we were gonna do this and we did. So that's to add credibility to their actions.
• 9:59
  Right? But but moving forward, when you lose petrodollar status, you have to inflate. There's no other outcome. You have to inflate. The only way to actually stop inflation, which the what's that is, is to reduce the money supply or increase interest rates.
• 10:18
  They can't reduce the money supply. That's what inflation is all about. So therefore, interest rates are going to go up. So everything that kind of we're talking about tonight is going to be in the light of that. The U.
• 10:33
  S. Is in decline. We don't really have a good outcome. I wish we did. I truly wish we did.
• 10:42
  But the BRICS nations, because they're such a large percentage of the world population, makes a huge difference. I mean, when we're fighting an economic battle against more than half of the world, we're already positioned from a point of loss. Right? And it's like it's not like when you go into a battle, you can position yourself from a point of victory. We're not at that point.
• 11:11
  And that's what's sad to me. And under Trump's administration, we wouldn't have been at this juncture. We really wouldn't have. Because imagine if you were Xi in China or Putin in Russia and you said, you know what? We're going to de dollarize the world, and we're going to change how the world operates and change exchange for oil for our currency instead of yours.
• 11:37
  Trump would have done something about it, but we have an administration right now that is buckling to the pressure, that's afraid of China, that's afraid of Russia, saying, alright, well, you just do it. Or option number two, they're in cahoots with them. And this is a plan from the bankers and the central bankers of the world to actually de dollarize the world, kick the U. S. Dollar out of the sandbox so they can bring in something that's different.
• 12:06
  Because you can't control paper money. You find it. You can't tax it. Right? If something is done privately, you can't do that.
• 12:17
  So what governments around the world want to do is make everything digital, where transactions are transparent, where they know everything that you spend your money on, Seth, whether you spend it on gas for a gas guzzling truck or you don't like the green energy agenda or you fund a political party and donate to a political party that they don't like, or maybe you're part of a religious ideology that they don't like, not just political, but religious, or maybe gender identification. Maybe they don't like how you think about yourself or about people around you. Right? This is what programmable money and digital money is all about. It's about control of people.
• 13:01
  It's not about fixing a broken system. They're going to pretend that the system, the banking system globally is broken and there's too much debt and we've got to fix it. Digital money doesn't do anything to fix that. It actually makes it worse because it's easy to create a trillion dollars worth of debt by printing, by hitting the enter button and a bunch of zeros after it on a on a keyboard versus printing a trillion dollars worth of cash. You know, going through the printing press, you got to cut down the trees first, right?
• 13:36
  You got to put ink on it, put it through the printing press, band it up in a little band and send it to the banks. There's a lot of process to that where it's really easy to create inflation with digital currency. So don't pretend that that is going to fix a broken banking system. The fix that they have is all about controlling us according to the World Economic Forum, according to Klaus Schwab, according to the Bank for International Settlements, the International Monetary Fund, Central Bank Digital Currency, which is their answer to this economic pandemic that we see, is all about people control. Because in their own words, programmable money is based on your ideological bent, your ideology and what you believe and what you spend on is who you are.
• 14:33
  And so if they don't like it, they can, with a flip of a switch, cut you off. And oh my word, if you want to control a person, Seth, you control their spending, then you've got them under your grips. And that's where I think the world is headed.
• 14:49
  Seth Holehouse: Well, you you done a good job of summarizing what could have been a a three hour long discussion and hit a you hit a lot of points.
• 14:55
  Dr. Kirk Elliott: We tried.
• 14:56
  Seth Holehouse: So we've got some good questions that are already coming in, and, actually, there's a couple that are very relevant to some points that you made. So first, I've got one from this is from r zucco eight on Rumble who says, do you envision the government having a CBDC stepping in before total collapse of the system, or do we experience total implosion? Good question.
• 15:23
  Dr. Kirk Elliott: It's a good question and a weird outcome because I think the outcome is the same. Right? So I think we see complete implosion of the economy. The only way that you can get people so the way that I answer that is this. Would you let me ask you a question back to you, whoever asked that question.
• 15:46
  Would you ever say, you know what? I would take central bank digital currency, even though it actually is intrusion on my bank accounts, it's spyware on my bank accounts, it has the ability to cut me off from buying or selling, which is based on your ideology. Would you say that that's a good thing if they can cut you off from buying or selling? Of course you wouldn't. Right?
• 16:14
  And I'm not talking to just you. I'm talking about to humanity in general. Right? So now let's say that you're a retiree and you get social security benefits. And the only way that you can receive social security benefits is if you take this FedNow app, if you take the central bank digital currency and you happen to be a follower of Jesus, you happen to believe the Bible, and you say, what?
• 16:45
  This seems like it's the mark of the beast. I don't know what to say. When when the mark of the beast says no man in Revelation 13 that says no man, woman, or child shall be able to buy or sell unless they have the mark, it's like, this kind of feels like that. Right? It it feels like they're controlling me based on my ideology, but yet they now they say, you know what?
• 17:08
  You're not going to be able to receive Social Security benefits. If you're a government employee, you can't receive your pension benefits. If you're receiving any kind of money from the government whatsoever, unless you adhere to our system, we're not giving you your benefits. What would you do if it means you can't feed your family or you can't pay your rent or you can't pay your mortgage or you can't get groceries, what would you do? I mean, this is a hard ethical dilemma that all of us need to face, right?
• 17:41
  And I would hope that we would say, okay, there's got to be another solution. And there is. Right? There is another solution. But this is where most of the people that are unaware, like, literally, Seth, the people who aren't watching your show.
• 17:56
  The people who are watching your show, I know I'm preaching to the choir because they get it. They absolutely get it. But for most of the population, we're talking about, you know what? I'll give up a little bit of my freedom or all of my freedom in exchange for me being able to pay my rent or my mortgage or pay for groceries or, you know what, this is exactly how they want it. So I saw this video about two weeks ago of Obama.
• 18:26
  It was before he became president, and he was actually giving a speech and he said, you know what? You want to change the world? You you spew a bunch of toxic sewer into the economy, into the hearts and minds of people, and create questions of their leadership. If you can get people to question their leadership, you create a bunch of conflict. You put a bunch of garbage into the system.
• 18:54
  You know what? As a community organizer, which is what he was in Chicago, now we've won, right? If you can create questions of people of their leadership and create distrust, they will automatically go for somebody taking care of them. This is the ideological, political, religious bent that we're living in. And to me, once you can connect some of these dots, Seth, once you can connect these dots, you can see, oh my word, this is exactly what they're doing.
• 19:28
  They're creating a world of distrust. They're creating a world where people don't love people based on what they have in common. They hate people because of how they're different. Right? Whether it's based on political grounds or religious grounds or maybe your gender or maybe it's your race.
• 19:50
  Right. They or any of the preferences that you could name in today's world. Right. Creating discord, creating a world of distrust now as soon as you need something. And and and when I say need something, let's just talk about it from a financial perspective, which is the world that I live in.
• 20:11
  Right? Let's say you needed a loan and you needed to go to the bank for a loan because you've run out of money. Well, what if the banks have run out of money like they have now? They're undercapitalized. You have to have almost a perfect credit score to get a loan.
• 20:27
  I was just talking to a realtor friend of mine today, like literally five hours before we recorded this. And he said, Kirk, commercial real estate in Downtown Denver where your office is, it's down literally 30 to 40%. And banks aren't lending out money. The only if somebody wanted to buy an office, the only way that you're going to get money to buy an office is through private capital or if you have cash. Well, who has that?
• 20:57
  Right? So if their banks don't have capital anymore and people need something, let's take it down one step further. They need money to live. They need money to eat. They need money to pay to feed their kids.
• 21:12
  They do an end run around the banks and go directly to the government for their support, for their provision, for their protection. And here I come from my second PhD is in theology. It's like, what? Protection, provision, support. That's the role of God, not the role of government.
• 21:36
  And so government is trying to take the position of God in people's hearts and minds. And this is the danger that we have in society. Right? When you kick God out of your life, you lose morality, you lose ethics, you lose all sense of everything that's good. And it's almost this bizarro world where what's good is considered evil and what's evil is considered good.
• 22:02
  But when it comes but people don't care anymore. They don't care anymore because they've become apathetic and it's like, well, if I need to eat, I need to eat. And they go directly for the government and the government says, we'll feed you, and you're going to actually have a good life. You're going to according to Klaus Schwab in the World Economic Forum and Harari, you're going to eat bugs and you're going to like it. Right?
• 22:30
  I mean, this is their words, not mine. But this is the world that's being created. And this isn't this isn't Suzanne Collins' version of the Hunger Games. This is like life right now. Right?
• 22:45
  This isn't a dystopian future. So this is why I am so convinced that, Seth, until there's nobody else listening, you and I need to continue speaking this message, Speaking of message, actually, not of despair, but of hope. Because there's solutions in all of this that we can actually overcome, that we can thrive, that we can take the plans of the enemy, may turn them into good, and actually do something good, not just for our generation, but for future ones.
• 23:17
  Seth Holehouse: Well, I'll give just a a quick thought on the the question as well. Is I I always go back to just what's the playbook. Right? And what you see over and over again is problem reaction solution. And so, you know, with the question, great question, right, from Zucco, you know, is you're saying, do you envision the government having a CBC stepping in before total collapse?
• 23:38
  And to me, it's the the collapse is is the precursor to the CBDC. Because if everything is nice and rosy and stable, people won't be forced into it. But if there is a financial collapse of some sort, then people will be forced to say, okay, I'll take it. And I and that's why it's why they always do it. They always create they create the, you know, the the virus, and then offer you the medicine for it afterwards.
• 24:02
  Right? And that's that's what I see. Right. So we've got a a bunch of other good questions coming in. So let's see.
• 24:10
  Well, here's one. Okay. This is from r Christy on Rumble, who says, is it wise to convert a traditional IRA to a metal Roth IRA? What are the pros and cons? And and actually, that's a that's a good one, because I I see there's a lot of questions about IRAs specifically and and the process.
• 24:30
  So, again, so for Christie answering the question, I'll I'll say it one more time. Is it wise to convert a traditional IRA to a metal Roth IRA? What are the pros and cons? What do you think, Kirk?
• 24:40
  Dr. Kirk Elliott: Boy, that's actually an interesting question. So moving a traditional IRA that's attached to normal traditional paper assets into an IRA that actually we can denominate in physical metals, gold, silver, 100 ounce bars of silver, 10 ounce bars of silver, one ounce silver round, gold bars, gold kilo bars. That's a no brainer. Absolutely. In a world where everything's falling apart, where it's sustained by debt, it's sustained by stimulus, where geopolitical risk, political chaos, unsustainable debt, rising taxation, rising interest rates, lowering wages.
• 25:23
  It's like, Kirk, stop. Right? It's like, that is actually a recipe for disaster. So in that sense, you want to get rid of your paper assets going to gold or silver. That's an easy one.
• 25:35
  I mean, a no brainer to me. Transitioning from a traditional IRA to a Roth is different story, right? Because let's say you were in precious metals already. You had a traditional IRA that was in gold or silver, and you wanted to move into a Roth traditional IRA that's in gold or silver, right? Or not a traditional IRA, but a Roth IRA.
• 26:02
  So what would you have to do? You have to pay your taxes because you pay your taxes now to go into a Roth IRA where all growth is tax free moving forward. Well, the question becomes, well, can you afford the tax payment? I mean, that's really the question because it incurs a taxable element to that. If it were me, I wouldn't care about it.
• 26:28
  I would just do a traditional to a traditional, Right? I wouldn't convert something to a Roth at this point because who knows? I mean, when when I listen to the words of Trump and some of his campaign promises, he wants to get rid of of progressive and personal income taxes and replace that with tariffs on imported goods, which means if he gets rid of income taxes, well, what good does a Roth IRA do you? Right? So therefore, I would just convert it to have no taxable element, just move from a traditional to traditional, but change the asset category that you're allocated into.
• 27:12
  Move into physical metals because to me, that's not debt based. That has no counterparty risk. That has no political risk. It's just moving from paper assets to physical assets, and you can get out of harm's way without a taxable consequence and be in the right place at the right time.
• 27:32
  Seth Holehouse: So basically, you're just saying, if I understand correctly, take you know, say you've got a hundred thousand dollars sitting in IRA, and you wanna put 50 into silver, hypothetically. Basically, what you're saying is don't convert to a Roth IRA. Just do a a basically, transfer it so you're going from, say, the IRA sitting in whatever that's in, moving into a precious metals IRA where there's you're you're just kinda changing your asset class. You're not changing the type of IRA. You're just changing it to precious metals.
• 28:00
  And if you do it in a way now can you explain, you know, you know, should be a pretty easy answer. But if someone does that, say they have they they wanna take $50,000 and move it into precious metals Mhmm. Is that considered a purchase of metals that they it's taxed, or how does it work so that they can avoid paying the penalties on touching that IRA?
• 28:21
  Dr. Kirk Elliott: So let's say you have an IRA with Schwab or Merrill Lynch or E*TRADE. It doesn't matter. Right? You just have an IRA. And you sell all of your stocks, whatever you have, or maybe you're just in cash already.
• 28:33
  And just say, yeah, I want to do a rollover. I'm going to roll over to a new IRA custodian that allows me to hold physical metals, gold, silver bars, not ETFs, not paper, not certificates, right? But actual physical metals. There's no tax consequence to that. It's just an IRA rollover like any other IRA rollover.
• 28:54
  It's just a change in asset category going from something bad in your own political view, economic worldview, you believe that, man, this world is being held together by stimulus money. Things aren't right. Politicians are lying. The economists are lying. I know that wages are coming down.
• 29:15
  I know that unemployment is rising. What they say is not true. Well, then get out of that paper system, go into tangible assets. There's no taxable consequence to that when you do like a traditional IRA to a traditional IRA rollover. And you could do that a thousand times a year.
• 29:35
  It doesn't have to be just from a paper company to metals. You could go from Schwab to Fidelity to Merrill Lynch to Goldman Sachs. It doesn't matter, right? You can do as many of those as you want a year. It's tax free rollover.
• 29:50
  Now, the moment that you decide, I want out, I don't want anybody to monitor what I have, and I'm going to take a distribution out and I'm going to take delivery of precious metals at home. Well, that becomes a taxable event because you've left the IRA. Again, that's no different than a stock fund or mutual fund IRA. The rules are the same. Sometimes people think that, oh, gold and silver rules are different.
• 30:16
  It's a different asset. What am I going to do? To me, it's no different. It's either you could have a broker, which I am not one. I'm not a financial advisor.
• 30:26
  I'm not a broker, right, of stocks, bonds, mutual funds. They could either buy you some shares and sell them when you want to, or I could buy you some gold or silver and sell them when you want to. Same thing. It's just a different asset. And my goal is to, given the fundamentals of the world we're living in, unsustainable debt, inflationary pressures, political chaos, geopolitical conflict, has moved from one asset category to another.
• 30:56
  Be in something that's growing based on the foundational pillars that are causing the economy to go up or down and minimize your risk, maximize your return. When you go to bed at night, have a smile on your face knowing that, wow, what I just did, it's the best thing for me right now. And I know it and I feel it and it gives you that financial security. That's my goal.
• 31:21
  Seth Holehouse: So speaking of financial security, here's a great question, and which I've seen come through quite often. This is from Fester Bester Tester. Great, you know, fun name on Rumble. And then then I've got a two good questions from Shadrack one two three. I wanna get to after this.
• 31:37
  But, so Fester Bester Tester asks, what if they seize the gold again? Right? Wasn't that was it 1935 under Roosevelt? Was that when they they did the gold confiscation? So and I see this often, you know, people asking, what if they do that again?
• 31:52
  Right? So Yeah. You know, for me, it's like, well, if it's buried in my backyard somewhere, good luck. Right? But I'll I'll I'll let you answer because your your your answer might be a little bit more intelligent than my answer.
• 32:04
  Dr. Kirk Elliott: So well, your answer is right. I'm just gonna actually take it a little bit deeper. So that's a really good question. Right? Because I get that question a lot too.
• 32:15
  It's like, Kirk, why would I store metals at a depository if the government's going to confiscate it? Right? I want it at home. Well, in an IRA, you can't take delivery of it at home. But I want to encourage everybody, I wouldn't worry about it.
• 32:30
  Right? So different time, different place, different message, different rationale. So look back to when gold was confiscated. And remember, silver was never confiscated, like ever, because it's an industrial metal, it's manufacturing. Gold was, but the gold was confiscated because it was actually backing our currency at the time.
• 32:53
  See, in the early 1930s, when this all happened, gold was a backing of the US dollar. You could go to whatever stores were around at the time, whether it's Sears or Woolworths or I don't know, some of these old school stores. Right? But you could say, I'm going to spend a $20 bill or one ounce of gold. They took both because gold backed the currency one to one.
• 33:19
  So or you could go to the bank and deposit one ounce of gold or $20. It was exactly the same. So in the 1930s, '1 ounce of gold, which has a $20 face value on the coins, if you were to look at a US Liberty coin or US Saint Gaudens, some of the really old stuff that was actually mintage back then. It said $20 face value on it. Right?
• 33:44
  So so fast forward to and what would that buy? Let me ask ask the question. What would that buy? It would buy you a finely tailored men's suit, a shirt, a tie, a belt, and shoes. That was the purchasing power of either a $20 bill or one ounce of gold.
• 34:01
  Well, fast forward to today, a a hundred years later, you know, from the nineteen twenties until the twenty twenties. Right? Hundred years later, $20, a $20 bill. I don't know what neighborhood you live in, Seth, but you can hardly go to Taco Bell with you and your wife for $20. I mean, it's I mean, Taco Bell.
• 34:26
  Right? But one ounce of gold that you had a $20 face value back then at $2,400 an ounce still buys you a finely tailored men's suit, a shirt, a tie, a belt, and shoes. So here's my encouragement to everybody watching. Don't view gold and silver as just a good investment that's growing. View it as the insurance policy against a collapsing currency, right?
• 34:55
  It maintains its purchasing power over time. A $20 bill a hundred years ago doesn't get you the same today. Because twenty years ago, a $20 bill got you a finely tailored men's suit, a shirt, a tie, a belt, and shoes. Same thing as one ounce of gold. And at $2,400 an ounce of gold today, it still gets you the same thing as it did a hundred years ago.
• 35:21
  So we need to retrain our minds, first and foremost, that gold and silver are kind of like an insurance policy against a collapsing currency. But we have the double bonus benefit that it's actually growing in value. There's international demand. Global manufacturing industrial demand for silver is through the roof with electric vehicles and defense department and aerospace and electronics and solar power. Right.
• 35:52
  They all need silver. So in the midst of the worst economic time that we've lived in in over fifty years globally, the demand for precious metals is still through the roof. Imagine if we had a robust economy. I mean, I'm telling you, if we had a robust economy, the supply and demand would be off the charts. There would be zero supply, high demand.
• 36:17
  The price of gold and silver would be through the roof. But here's what I want to say. Look at the last five months with the political tensions that we're seeing, the geopolitical conflict, the inflationary pressures, people not believing the stories coming out of DC but believing their wallet instead. Silver's up 40%, Seth, in the last five months. Forty percent in five months.
• 36:44
  Normally, people would say, well, I'll take half of that. I'll take 20% in a whole year. Well, you don't have to settle for that. You've been settled for 40% in the last five months. And those trends and foundational issues that are causing that growth are continuing on because the world's not going to change overnight, Seth.
• 37:04
  It's actually getting worse.
• 37:08
  Seth Holehouse: No. I I couldn't agree more, unfortunately. Actually, I was just pulling up here. I'll show here's just a here is a silver chart. Right?
• 37:15
  This is showing here's where silver's at over the last this is six months. Right? Yeah. Just there you go. So another question.
• 37:28
  Okay. So I told this is from Shadrach. Right? So Shadrach one two three. Let me pull this question up.
• 37:35
  So two questions. One is, where do you see the economy in five years? So that's, you know, that's that's a big one to try to get to. And the other one is, I've been told that silver will be more valuable than gold. Is that true?
• 37:50
  So I'll let you take both those from Shadrach. And then on deck, I've got a good question from let's see. Who is it from? From Kitness. Right.
• 37:58
  So we'll get to Kitness' question next. So I'll let you hit those first two questions from Shadrach.
• 38:04
  Dr. Kirk Elliott: Okay, Shadrach. I'm not God. I don't control the markets. Mean, I don't I don't know what to say to that. However, here's where I I do think that gold and silver actually are going to soar because this is just economics 101.
• 38:22
  Low supply, high demand. The supply of silver at the COMEX depositories is diminishing. I mean, it's like limited. But yet the demand is through the roof for manufacturing, industrial reasons, and investor demand. So let's say, you know, to answer your question with a story, let's say that you're Sony, Right?
• 38:46
  You're building a 65 inch flat screen TV, and you need one or two ounces of silver for the solder points and the electronics and whatever. You're not gonna care if silver is $20 an ounce, 30 an ounce, 50 an ounce, 120 an ounce. You don't care. You're going to offer whatever you need to do to buy it because if without it, you can't sell the finished product. So this is where we as investors can actually allocate into this commodity, right, that people are going to need for electronic solar power, electric vehicles, fuel cell technology, defense.
• 39:25
  People don't realize we're now in a war economy, Seth. Right? We've got wars with Russia and Ukraine, China and Taiwan. I mean, there's wars everywhere. Every single one of those ICBM missiles that are being shot off take about 11,000 ounces of silver in them for battery power.
• 39:44
  It's like, man, there's a lot of demand for silver. So if we own we don't want to invest in the currency. We want to invest in the backing of the currency. Because when Sony says, I don't care if prices are $30 an ounce or $80 an ounce or $150 an ounce, I'm buying it. Right?
• 40:04
  So if you own the backing of a currency or the thing that people need for this green globalist agenda per se or whatever, I don't see a lot of downside risk there. Really, I see none. Just a person. I just have an opinion. But because it's needed, right?
• 40:26
  So if it's needed, we want to own it. So when Russia decided to back its currency, the ruble with gold, people called me nonstop, Seth, and said, Kirk, we should invest in the ruble. It's like, what? Do you realize how much political risk there is in that? If the world economy and and countries of the world say, we're no longer accepting the ruble because we don't like their politics.
• 40:53
  We don't like it that Putin's attacking Ukraine. We're no longer gonna take the ruble. Well, then your investment in that currency goes to zero. But if the ruble is backed by gold and you own the gold, well, gold is still in demand in China, in America, in Canada, in Mexico, in The Middle East, you name it. Who cares what happens to the currency?
• 41:16
  If you own the backing of the currency, you've minimized your risk and you've maximized your return.
• 41:23
  Seth Holehouse: So the second question with kind of looking at gold versus silver. Right? And I'm not sure. I've I've never heard that silver will be more valuable than gold. That's new to me to hear that.
• 41:35
  But I've heard a lot from a lot of people, including yourself and actually my own perspective, that currently, silver is a better investment than gold. So you're putting your money into silver and gold, that silver is the right thing to go. So can you explain if someone called you and say, Kirk, I wanna buy metals, and you say and you say, hey. Silver or gold? What would be your answer and why?
• 41:56
  Dr. Kirk Elliott: So I've seen those stories from podcasters and on the internet that silver is going to be more valuable than gold. And I love silver. It's 100% of my allocation. We're the largest silver dealer in North America. I mean, I love silver, but I don't see that as actually being the case.
• 42:17
  Now, do I think it's going to grow amazingly? Yeah, I really do. But here, you put it into perspective. Central banks around the world are acquiring gold like there's no tomorrow. Right?
• 42:31
  The Bank of China, the Central Bank of China has acquired an estimated 30,000 tons of gold. Russia has a thousand tons of gold. India has a thousand has 600 tons of gold. The European Union has about 10,500 tons of gold. The Federal Reserve has 8,500 tons of gold.
• 42:52
  Why? Because they know that there's probably a system change coming, and we're moving from paper currency to digital. And when we move from digital, it doesn't mean backed by gold, but they're using gold as the carrot. They're dangling it out there saying, hey, world, if I'm Xi in China, I'm saying, hey, world, why would you invest in the euro or the US dollar? We've got a central bank digital currency, and it's backed by gold one to one.
• 43:21
  Invest in our currency. And just like one of those scary movies that we watch as a kid or even as an adult, I mean, you watch scary movies, there's always these dumb kids that are going into this old house, this haunted house, and they're walking down the hallway and they decide, I wonder what's behind this closed door. And as a viewer, you're saying, dude, don't go behind that closed door. We know there's a monster back there. As soon as you open it, they're going to eat you.
• 43:51
  Right? But yet on the movie, they always decide to go behind the closed door. This is how I view central bank digital currency in China or anywhere else. Once you say, yeah, this dangling carrot that they're going to back their currency with gold, I'm going to go into that one. Once you go into central bank digital currency, you're not getting out because they own your rights as a person.
• 44:18
  With the flip of a switch, they can cut you off from buying or selling based on your ideology. So don't go in that door. Don't buy mainstream media perspective that CBDCs or central bank digital currencies are going to be the answer to a broken system, that they're going to be three sixty five days a year, 20 fourseven, accountability, transparency. We're going to be able to find the money launderers, the human traffickers, the drug traffickers, the arms traffickers, the sex traffickers. Right?
• 44:53
  And we'll cut them off. It's like, no, those are all good things. I want all of that to be cut off too. I really, really do. With all of that's within me, I think it's evil.
• 45:03
  Right? But you go down that road, now they control you too. And if they don't like the fact that you own a gas guzzling truck and you're buying gas and they want you to be green, it's like, well, no more gas for you, Seth. Or you're buying beef and and the mayor of New York or or Biden says, you know what? Cows are like the most problematic thing for global, you know, pollution ever outside of cars and factories.
• 45:34
  Right? It's like, what? Because they have gas? You're telling me that cows are awful and they're going to outlaw them? Right.
• 45:42
  So they can cut you off from buying or saying, what if they don't like the political party you're part of? What if they don't like the religion that you're part of that preaches the Bible? And they say, well, that particular religion is hate speech. We're going to cut them off from donating to that political party for the rest of eternity. So here's where we have to start connecting the dots, looking into the future a little bit and saying, where is this world headed?
• 46:11
  I mean, we don't have to look too far, right? Because we look back, the truckers in Canada got cut off from their bank accounts because of their ideology. Just four days ago, four days ago, there was this group in Germany called the Grandmothers Against It wasn't against truth or against conservatives or Grandmothers Against the Right. So that's what they were called. They got 30,000 petitions that said that one of the largest banks in Germany could no longer take donations for the AFD, for which was the largest conservative party in Germany.
• 46:55
  The AFD says basically said, we don't like immigration policy. We don't want all these immigrants coming into Germany. They're basically like the Republicans of Germany. Right? Call it that.
• 47:07
  So so these grannies for the right said, you know or what did they say? They said, grannies against the right. They said, we got these 30,000 petitions. We don't want you, big bank, to actually allow donations for this political party. So the board of directors said, okay.
• 47:26
  That sounds good to us. We don't want that either. So the largest conservative party in Germany as of four days ago no longer has a bank account. They have to rely on PayPal, literally, PayPal for donations into their bank. Now yesterday no.
• 47:47
  I'm sorry. Two days ago, we're late at night. Two days ago, the high court in Germany said, hey. Anybody that's part of this AFD party, you can no longer own guns. So what started out as a political let's get rid of your banking and your ability to make money, now we're moving this into a social agenda and you can no longer own guns because you're conservative.
• 48:14
  Right? Against the globalist, against immigration, against all these things that the globalist don't want you to be against. This is how quickly things could turn around. And to me, Seth, when you allocate into physical precious metals, gold, silver, bars, or coins, you're getting away from a paper system. You're actually allocating into your freedom, so to speak, and against this big brother mentality that can cut you off from buying or selling.
• 48:46
  Seth Holehouse: Exactly. I mean, to me, it's the same as learning how to grow your own food. Right? You're getting out of that system. I also got we actually we're getting tons of questions, which is which is really good.
• 48:56
  So we'll have to, you know, keep working through. So here's a question, as I mentioned from Kittness, which we're gonna get to next, who says, so if you have a traditional IRA in the bank, won't that be a loss when the bank collapses? And so looking at what would just happen with Silicon Valley Bank, what we've been hearing rumors about, and we're seeing, right, that that that there's potential bank runs, bank collapses, you know, around the corner. Yeah. It's a very valid question.
• 49:24
  Right? Basically, if I've got my IRA with x bank, that bank collapses, what happens?
• 49:34
  Dr. Kirk Elliott: That that question is from Ketanus?
• 49:37
  Seth Holehouse: Yes. Yeah. From Ketanus.
• 49:38
  Dr. Kirk Elliott: So, Ketanus, that's a really good question. Right? Because when you look back to March of of last year, which was the basis of your question, Silicon Valley Bank, Signature Bank, Credit Suisse, First Republic, they all went under, right, because they had more withdrawals coming out than deposits going in, and the banks ran out of money and they went under. They went to FDIC receivership. Well, back in the day, FDIC covered you.
• 50:10
  If you had more than $250,000 in the bank, you were out. But up to $250,000 in the bank, it was insurance coverage, right? But fast forward to today, FDIC only has 1.17% of all deposits covered. Well, this is a problem. This is a huge problem.
• 50:30
  Because what if that bank goes under and your question, your concern is 100% valid and accurate? It just is. It's a very astute question because most people think my bank account, it's the safest asset in the world. I've already paid my taxes. It's not part of the market.
• 50:49
  It's not part of the stock or bond market or whatever. It's just sitting in cash. And five years ago, Seth, when somebody were to ask me, it's like, Kirk, I've heard you talking about the markets. I think the markets the stock market's going to have a collapse. I'm just sitting in cash on the sideline.
• 51:03
  I'm going to ride this baby out. My answer would have been good. It's the right thing to do, right? But today, banking assets are probably more risky than market assets because banks are undercapitalized. Only 1.17% of all deposits are covered under FDIC insurance.
• 51:25
  Well, just oh, my word. Two weeks ago, Seth, you and I talked about this off the air and actually on one of your shows. But two weeks ago, I think it was maybe it was three, no more than that. The Feds and the FDIC went to the four largest financial institutions in America. And Katniss, this is crazy because this is Bank of America, JPMorgan Chase, Goldman Sachs and Citibank.
• 51:53
  And they said, you know what? The orderly resolution plan that you put together in time of chaos, of the orderly resolution plan, how are you gonna pay off your depositors? Doesn't cut it. We don't believe that it's actually valid. So therefore, by 2025, which is only six months away from the time of this recording, you have to submit an orderly resolution plan that complies with US bankruptcy code.
• 52:20
  It's like, what? They just said four largest financial institutions in America and US bankruptcy code in the same sentence. It's like, what are they thinking? Right? So here's where it matters to us.
• 52:34
  You really need to be concerned about the financial stability of where you keep your assets. And if you don't feel comfortable with it, I would allocate into physical tangible assets like gold and silver, physical bars and silver, bars and gold, whatever you choose to get out of that paper based system. Because here's the problem moving forward. Wages are declining. Unemployment is going up.
• 52:58
  Capitalization of banks is not there. Because as of March of this year, after Silicon Valley Bank, so for a full year, March of twenty twenty three until March of twenty twenty four, there was something called the bank temp funding program, which the Fed injected capital to bail out failing banks before they went into FDIC receivership. Why would they want to do that? Because FDIC is underfunded. They've run out of money.
• 53:28
  So but that program sunset because the government is running out of money, Seth. That sunset in March of this year. So any banks that start to fail from March of this year moving forward is going to go into FDIC receivership. Well, good grief. They're so underfunded.
• 53:47
  If one bank goes under, you'll be fine. Two banks go under, you'll probably be fine. Right? Unless it's big. But ultimately, you get more than like four or five, FDIC runs out of money.
• 53:59
  Then there's a run on the banks. Then if you haven't planned accordingly, gone into something that's going to grow and thrive like physical gold and silver that you take delivery of or store at a depository, your paper assets might vanish. I'm not saying that they will. I'm not guaranteeing anything. I'm not God.
• 54:19
  I don't control the markets. But when you have unsustainable debt, lowering wages, unemployment that's going through the roof, inflationary pressures and higher taxes, what do you think is gonna be the outcome? Except for people saying, oh, everything's falling apart. Government, please take care of me. That's the outcome.
• 54:42
  Seth Holehouse: There's a comment from third heaven I wanna read. This just says, if you don't hold it, then you don't own it. And that's it's it's a good point. If your if your assets are sitting off in some digital database somewhere at the big bank, which is then having someone other big organization hold those assets, and it's like, it's it's not really yours. Right?
• 55:02
  Actually, David Webb in his documentary, The Great Taking, we went into detail now. I interviewed him. Yeah. So I've got well, before we jump into the next question, I just wanna show people, if folks want to contact you, because I'll pull this up, so it be people asking this, goldwithseth.com. This is the website.
• 55:18
  It brings up goldwithseth.com. The phone number is (720) 605-3900. That will get you to Kirk's team. And if you want to right now, they're closed. You leave a voicemail to call you back.
• 55:29
  That's how you set up a free consultation. Right? So if you want are interested in this, you have questions in detail, the entire q and a that we're doing tonight is free for anybody that wants to set up an appointment. They can talk to either yourself or one of your wealth advisers, get the same answers. So just wanna let people know.
• 55:44
  So goldwithseth.com, 7 2 0 6 0 5 3 9 0 zero. So getting to the next question. Let me find it here. We've got okay. So this is actually from, l Fritz, who put this on Telegram, who says, hi, Seth and Kirk.
• 56:02
  I have a couple of questions. Let's start with the first one. What does it look like what does it look like in The United States when the dollar collapses, they push or institute CBDC and other controls on all America? You know, in in in parentheses, do huge percent of businesses fail dark ages, etcetera? And I know this is a tough question, but let's just kind of get into the hypothetical.
• 56:26
  What would it look like if things did you know, the dollar really does enter into hyperinflation, which is really what collapsing is. Right? Hyperinflation. And they they bring in CBDC.
• 56:39
  Dr. Kirk Elliott: So this is the question that nobody really wants to face the reality of. However, we can actually show you what life looked like in a time of hyperinflation. Look at Venezuela, Argentina, Zimbabwe, Cyprus, Greece. You know, when when international demand for your currency eroded and went away, they had to print their way out of it. And in Venezuela, for example, just three years ago, they had a % inflation.
• 57:06
  A million. It's like, man, we're bellyaching about 8%. Right? So when you have that, and if you don't get paid almost like it's not an exaggeration, I wish it were, but this is what happened in Weimar Republic, Germany. Unless you got paid in wheelbarrows full of cash twice a day, if you didn't get paid at lunch and you went out on your lunch break and you bought a loaf of bread, the loaf of bread would have doubled in price by the time you hit dinnertime.
• 57:36
  I mean, so this is what happens when there's no international demand for your currency. So here's the reality. We haven't ever had to deal with that. Anybody who's alive today in America, we haven't had to deal with that. Because we've been the world's reserve currency.
• 57:50
  There's always been built in international demand for our currency. So we could spend like drunken sailors. We could print money like there's no tomorrow, and it wouldn't really have a dramatic impact. Right? But now that the petrodollar has been taken away, what is the result for America?
• 58:08
  We're no different than Zimbabwe or Argentina or Cyprus or Greece. We really aren't. I hate to say it. I don't wanna say it. I don't wanna be the bearer of bad news, But we're no different.
• 58:19
  If you're not the world's reserve currency, you're like everybody else. And when they print money without discretion to fund entitlements, Social Security, Medicare, feed the hungry, provide for defense, provide for agriculture, provide for education, right? Now in America, we have one step further. We've got to provide for every immigrant who's coming across the border illegally, who haven't paid into the system, but yet they can receive benefits. It's like, oh, this is like bankruptcy.
• 58:52
  And this is where we are. So to answer that question, I know I took a rabbit trail, but I don't see us as any different than any other country now. Right? We're no longer the world's reserve currency. The BRICS nations are, right, because of their policies, and they're such a large block of the world population.
• 59:11
  So therefore, when we don't have the reserve currency, when we don't have the petrodollar and you have to print money to fund and then stimulate the economy, what's the policy mechanism to slow down that inflation that you just created? Raising interest rates. So if you've got inflation and rising interest rates, that's the death of an economy, Seth. That's really the death of an economy. And I'm not saying it's going to happen tomorrow.
• 59:41
  But we're on that path. If we don't make a change, my projection is two years from now, we're toast because we're at this point of critical mass of unsustainability with our debt. And so if we don't make a change, I do think that our economy and our dollar implodes on itself completely.
• 1:00:04
  Seth Holehouse: So here's a question, actually, and this is just from myself. Not necessarily a question, but it's just a topic I wanna bring up with you briefly. Because we've talked about this a lot in the past, and you and I have had a lot of conversations off air about this. There are there's okay. So it's obvious that the people that understand what's really happening in our country, the folks who are watching shows like this are moving assets into precious metals.
• 1:00:31
  They're stocking up on ammo. They're stocking up on storable food. They're moving out of the big cities. You know, they're making big changes. They they they see there's a storm coming, and they're preparing for it.
• 1:00:41
  But with that, there's always the looters that take advantage. Right? To use Ayn Rand's way of phrasing it, the looters. And so what what's happening, though, is there's a lot of promotion of gold and silver, especially within the, you know, channels, like, you know, the alternative media channels. There's all kinds of sponsors for gold and silver.
• 1:01:00
  And so I used to work in that industry. I you know, more on the buy side. I was, you know, buying a lot of over the counter, you know, scrap and everything and bowling, etcetera. And I knew a lot of very unscrupulous people. But what we've talked about is that what you're seeing is that there's a lot of these big gold companies, and we won't name exact names, but some of the big ones that aren't even big, big shows that are absolutely taking advantage of people.
• 1:01:23
  They are you know, you're seeing these invoices come in. You know, we talked about it. We were seeing someone that bought spent, you know, $800,000 on silver, and they got they actually only bought $200,000 worth of silver. And so it was so overinflated. So can you just give this a a you know, this would be a long answer, but your approach to how you price precious metals and what you're seeing coming in through the invoices that customers are showing you and saying, hey.
• 1:01:50
  Was this an okay purchase from this other guy before? Just give us a a quick answer to that. I think it's really important just to address this publicly.
• 1:01:59
  Dr. Kirk Elliott: Yeah. So it's kind of a medium to long answer to your short question. Okay. But I've been doing this for almost thirty years. Right?
• 1:02:10
  And going back to when I started, I left a company that I started with in this industry because they wanted to have semi numismatic, which numismatic means rare, it's a coin, right? Rare collectible things that have high commission and they make more money on it. And I never did that. And basically, I got a seven year non compete clause. It's like, well, Kirk, you've got a cease and desist, right?
• 1:02:35
  If you don't like to do this, you only like bullion, it's not good enough for the company. It's like, I couldn't care less about the company. I say that with a grain of salt, right? I want to honor and admire and work hard for the company that I worked with, but as long as it's good for the client, right? And those two couldn't coexist together.
• 1:02:56
  It couldn't. So therefore, because I needed to be loyal to the company I worked for and loyal to my client, I had to quit the company I worked for, right? So, I mean, that's the only option. So when I started my company, I did it the right way. I only did bullion, because bullion, there's always built in demand for it.
• 1:03:17
  Now, let me give you a little story. So let's say you had a rare coin that you paid when silver was $25 an ounce, paid $75 an ounce for. And I've got countless numbers of invoices that that's the case. A lot of the companies in the industry, when you look at what they've sold people, it's like, oh my word. Silver was $20 an ounce.
• 1:03:42
  You should have not paid over $25 an ounce, and you paid 68. It's like, what gives? You know? Because I saw the invoices. I've had hundreds of invoices sent to me because people thought they got ripped off.
• 1:03:54
  It's like, I'm not going to name the companies. I'm not into mudslinging, but you know if you've got ripped off or not, right? So when you liquidate those, you're not going to get what you thought, right? You're going to basically get almost just a little bit more than bullion prices. It's like, well, why did I pay for that?
• 1:04:11
  Why did I pay for that rarity and that scarcity and that collectability? It's like, I don't know. Because you got sold something that you didn't know was actually the real story, right? So from the jump, I went into bullion for my clients. Bullion being something that's minted by a refinery that's used for manufacturing.
• 1:04:32
  There's no premium to it. It's just ounces, right? So goal in investing, minimize your ounces, or I'm sorry, minimize your cost, maximize your ounces. Pure and simple. Minimize cost, maximize ounces.
• 1:04:47
  The only way you do that is through bullion. Now, if you don't watch the markets like a hawk, I don't care because I will. I'll let you know when it's time to buy, sell, reallocate, lock in your profits and silver, go into gold, get it out of gold, go into something else completely. Right? So moving forward, I do not think, and sorry for the economists on our side of the fence that do, I don't think silver is going to equal the price of gold.
• 1:05:15
  I mean, I wish it would. That would be awesome because my clients are 100% into silver. That would be the best thing ever. But looking at historical patterns, we should probably see it tripling to quadrupling. I mean, that's a conservative estimate to the reality we're living in.
• 1:05:31
  If this bull market started at 25, well, then yeah, we get to 75 to 100. That would mimic the growth we had in 2011 when silver went from $12 an ounce to $48 an ounce. So we're saying, okay, it's going to start at 25, it's going to go to 75 to 100. Let me ask you all this. With what you're investing in now, I don't even care what it is.
• 1:05:53
  Can you really say that you feel good that it's going to triple or quadruple over the next twelve to eighteen months? Probably not. But I feel pretty comfortable with that. Again, there's no guarantees in this world. I'm not God.
• 1:06:07
  I don't control the markets. We can never make a guarantee. I'm not a financial analyst or adviser. I look at gold and silver. I look at the supply.
• 1:06:15
  I look at the demand. I look at what investors want. I look what central banks want around the world. I look what manufacturers need, and silver is running out, Seth. So therefore, we need to actually decouple from our hearts and minds, right?
• 1:06:34
  Our brain thinks of things logically, our heart thinks in terms of faith, right, or fear, right? So when we can have our heart that couples with our mind and we say, okay, under the current policies of this presidential administration, we've got rising taxes, rising interest rates, lowering of wages, unemployment skyrocketing, there's wars everywhere around the world. It's like, okay, I'm going to get out of normal paper assets. I'm going go into something that's tangible that can grow. That is our goal.
• 1:07:03
  And I will help you connect the puzzle pieces of politics and the economy and the social structure and the spiritual landscape that we're living in. And when you put all those pieces together, it actually builds a really nice picture of where we're headed in this economy or where we are. And my goal is to help you navigate through that. That means selling something that's in decline, sell it. We'll reallocate you into something that's going up.
• 1:07:32
  If you've never done anything before, well, that's fine too. Scholars will get you into tangible assets where you can grow and thrive.
• 1:07:40
  Seth Holehouse: So I've got another question from Yeah. This is from Fritz. And this is a question I've also seen few other people ask, and it it's pretty common. It's a very practical question. So what Fritz says is if this total, economic failure happens, how will individuals cash out gold and silver, or how would you use it?
• 1:08:01
  And and this is it's it's it's not an easy answer, but it's a question that is very easy to imagine. Like, okay. Yeah. It makes sense. Right?
• 1:08:10
  So say we take x amount of money, and you you pull it out of the bank, and you've got, say, a thousand ounces of silver. There's there's banking collapses, and you can't access your bank anymore. There's bread lines, hyperinflation, but you have this thousand ounces of silver. Right? You still have a mortgage.
• 1:08:28
  You still have, you know, the other expense you have to deal with. So in that scenario, and I know it's difficult. This is one that's kinda peering into the future type scenarios, which are very hard to nail down. But what's your best educated, you know, guess or or idea about the role that precious metals, especially, you know, physical precious metals would play in a society where there's no more trust in the paper currency?
• 1:08:54
  Dr. Kirk Elliott: That's a really deep question. It's a really good one too. Right? So we've never really had to think in this country of a barter type economy, right? And you think of that in third world characteristics like Venezuela, Argentina, Zimbabwe.
• 1:09:11
  It's like, okay, when their currency collapses, merchants don't want it anymore. You better have something, whether it's beads or vodka or cigarettes or gold or silver, anything that you can trade for value with somebody else that has something that you want. Sadly, Seth, we might go into that world. I mean, literally, when we lose the reserve currency status of our US dollar and merchants say, look, we can't sell our products faster than the inflation rate we want, what do you got? If you were coming into my store, South, and I were selling gasoline, let's say, was at a gas station, say, Kirk, I don't have any money.
• 1:09:50
  I don't, but I've got vodka or I've got some silver. I've got these eight ounces of silver for my gas tank. You know what? I'm going to take your silver. He's like, all right, I'll take that because it's what's going to be valuable and I know I can use it for something with someone else.
• 1:10:07
  So in a worst case scenario, you need something for barter, you better have something for barter. In a best case scenario, we never get to that point. Praise God. Let's pray that we don't. But silver is growing at today's rate of growth at 40% over the last five months.
• 1:10:25
  All right, let's invest it into silver when the time is right. Doctor. Kirk will let me know. We'll lock in profits, move into something else. But to me, the only way to maximize your future is to maximize every single day.
• 1:10:38
  How do you maximize every single day? Identify the trends, allocate accordingly. And when it's time to sell, either you let me know that you want to sell or I'll let you know that you should sell. And it's always your decision, and that's what we're here for.
• 1:10:54
  Seth Holehouse: So it's getting we're well past an hour here. And I've got I wanna finish off with one one final question. And this is from Joe, who's, you know, on Telegram, who's, you know, fantastic. Alright, Joe. You'll you'll know I'm mentioning you.
• 1:11:10
  Who says that, I hope that Kirk will talk about something beyond just gold and silver, as this is not the complete solution nor can you eat it. Their values will drop as well in the market tanks. So better diversifying the things that have intrinsic value, growing food, stocking up on food supplies, gardening tools, essential medicines, etcetera. So it's a good it's a fair question. Right?
• 1:11:33
  And, obviously, I'll give my my quick answer, and I'd love to hear your answer. I I look at it as though it's like me and Maslow's hierarchy of needs. Right? Only you kind of look at a different perspective. So let's just say someone's done no no prepping at all, and they've got a thousand dollars.
• 1:11:49
  Don't go buy silver with your thousand dollars. Right? From my perspective, make sure you've got food supply. Make sure you've got some way to protect your family. Right?
• 1:11:58
  There there's definitely more immediate things that you should care about. To me, precious metals are a an insurance policy, so you have something set aside. The same way you might have some cash, you know, under your bed, a little bit, you know, set aside. But also, it's that that way that asset, you know, the the money you've been accumulating is not lost. So that way, you know, if it's buried in the backyard or whatever it is, that you're still preserving your wealth.
• 1:12:23
  Right? And that's that's my perspective. But I'd love to hear what are your thoughts on that?
• 1:12:31
  Dr. Kirk Elliott: It's really good. Again, like, my word, all of your questions are really good ones tonight.
• 1:12:37
  Seth Holehouse: Honestly, it's we have a it's a brilliant audience. I I love everyone who's watching right now live, You know, 2,000 some people just on Rumble alone. Yeah. Smart people. Right?
• 1:12:46
  I mean, obviously, you've been educating them a lot. So Yeah. Thankfully. But, yeah, they're they're they're great people.
• 1:12:51
  Dr. Kirk Elliott: It it it's amazing. So it was Joe. Right?
• 1:12:54
  Seth Holehouse: Yes. Joe. She is a it's a woman, Joe.
• 1:12:57
  Dr. Kirk Elliott: Yeah. So, Joe, I ever want you to hear the message that I'm talking about or that Seth and I are talking about together and think, oh, Kirk is a one trick pony. It's silver only. It's gold only, right? No.
• 1:13:11
  But financially, it's a reasonable option that's actually growing and thriving and doing amazingly well. But when it comes right down to it, that's one piece of the puzzle. And that's the piece that I help people allocate through, get through, navigate through. So financially, when you put your head down on the pillow at night, can think, man, I haven't done too little. I haven't done too much.
• 1:13:37
  I've done just right for me. But you also have to look at what is the world that we're living in? We're living in a world where for some weird reason, is it coincidence? I doubt it. I really doubt it that beef cattle producers of America are having to kill their cows because of bird flu.
• 1:14:00
  The chicken farms and ranches or whatever you call them, hatcheries, I don't know what they're called, Seth, but by the millions, millions chickens are being exterminated because of this stupid Avion bird flu. Right? And then it's not only that they're being exterminated, but the farms are being blown up. They're on fire. Right?
• 1:14:23
  So as you look at protection and preservation and peace of mind, gold and silver is just one piece of it. But you better have a sustainable food supply. More important than a food supply, you better have a solid fresh water source, right? Because you can't live very long without water. You can live Well, Jesus showed us you can live forty days without food, right?
• 1:14:50
  But you better have those things in place. So if you can what's actually another step beyond that? Having a community of like minded people around you. What's one step above that? You rely on God for everything, for your protection.
• 1:15:07
  Psalm 91 tells us that every knee must bow, that we live under the shadow of his wing, that there's protection with him. Right? And and Jeremiah in Jeremiah 29, it says, you know what? I've got plans for you not to harm me, but for future success. And what do you do when you're looking for the promised land down the road?
• 1:15:26
  You live your life. You plant your gardens. You have families. You raise your kids. And you live life.
• 1:15:35
  You don't put yourself into a bunker and just wait for the some future event. You live life, but you have to do it. You have to take a leap of faith. You have to use the wisdom and discernment that God gives you to navigate through the times that we're living in. And it's all encompassing.
• 1:15:55
  It's not just gold and silver. And I get your question all the time. It's like, Kirk is a one trick pony. He only wants gold and silver. It's like, no, but that's the one piece that I live and thrive in and helping people economically.
• 1:16:09
  But I'm the same that you are. We need fresh food. We need fresh water. What happens if we have no access to medicine? Right?
• 1:16:17
  Well, you better have alternative forms of medicine. Fauci, plug your ears. It's not the vaxx. It's not boosters. Right?
• 1:16:28
  But there's different things that we can do health wise, economically, logistically with food and protection and preservation, all within the community of like minded people. That's all encompassing. I'm not saying that's not. My focus is just on the financial piece of it. But I think like you do.
• 1:16:53
  Right? It's like, know there's more to it than just gold. Silver. I'm not saying that gold and silver is the greatest thing since sliced bread. It is the one thing, though, that you can use for barter if need be because it's portable.
• 1:17:05
  It has value. It's recognizable. And that's the true definition of currency.
• 1:17:11
  Seth Holehouse: Great answer. So one question I saw a few times, which I know we're we're wrapping up, gold backs. And I know I've asked you that before Mhmm. About gold backs. And if I recall what your answer was was, you know, they they could be useful, but you're all about maximizing ounces.
• 1:17:26
  Yeah. And that if you're putting, you know, say, you know, a thousand dollars into gold and silver, you'll get almost twice as much if you're buying bullion than gold backs. Because gold backs have a production cost, not because they're overpriced, but because there is a cost to make them, which
• 1:17:40
  Dr. Kirk Elliott: Well, so they are overpriced. They're ridiculous. Right? So so you're spending thousands and thousands and thousands of dollars for these grams of gold. I mean, I get it.
• 1:17:56
  But but if you buy a gold back because you're buying a couple grams of gold in each gold back or whatever it is and you're paying all this money for it, it's like, well, in a barter economy, nobody's going to give a flip that you paid thousands of dollars over what you should have for gold. To me, if you want gold, buy physical gold. Buy a one ounce gold bar where the prices are small. You know, the premiums are small. You can grow and you can thrive and you can preserve your capital.
• 1:18:30
  Again, I like the concept of gold backs. It's like currency that's backed by gold. In fact, they're made a little bit of gold. But they're so overpriced per ounce. In a barter world, no.
• 1:18:43
  We've never lived in a barter world in America. I realize that. But I'm a student of history, and I read about what happened in Argentina and in Venezuela and Zimbabwe. You know what, Seth? Nobody gives a flip if it's one gram of gold that you have in a gold back.
• 1:19:02
  If you it's worth hundreds of dollars when it should be worth a few bucks. Nobody's gonna care about the premium on those things. All they care about is, is this tangible? Is this real? Is this ounces?
• 1:19:15
  And how much did I pay for it? That's why I love bullion. I don't even like silver eagles, gold eagles. Anything with a government mint in, it costs too much. It's like I heard this joke a while ago, and I wish it weren't true, but it is.
• 1:19:31
  It's like, how do you turn a perfectly valuable piece of paper into nothing? You put some green ink on it and make it into a currency. Right? It's like they devalue it by printing more than they should. So our goal in life is to use the biblical wisdom and knowledge and discernment and godly values that God has given us, Allocate accordingly.
• 1:19:56
  Use that wisdom to not just survive. I don't want anybody watching this to hear the bad news that you and I have talked about, Seth, and think, I got to put my head in the sand. It's over. I don't know what to do. No.
• 1:20:08
  The whole goal of the show was to identify the problem and provide a solution. And that's where physical, tangible gold and silver come into play, along with the other things that we just talked about. Fresh water, fresh food, faith. You can't do anything without faith. A community of like minded people.
• 1:20:30
  I'm just talking about one of those components tonight, which is the financial part.
• 1:20:35
  Seth Holehouse: Exactly. Exactly. So, Kirk, as we're wrapping up actually, I do have one final question. It should be very, very short for you to answer. Jeff Schambaugh, sorry for I kinda misspounce your name, wants to know what the tattoo in Hebrew on your left arm says.
• 1:20:52
  Dr. Kirk Elliott: There you go. For anybody that can read Hebrew, it means undefeatable. And then there's a there's a lion right here. Right? So to me, with Jesus, we're undefeatable.
• 1:21:05
  There's nothing. Every knee must bow, right? So every one of my tattoos and I know that I've been attacked from people's like, You're a criminal. You're tan and you sit by a pool and drink Mai Tais all day and you've got these prison tattoos on your arm. It's like, what?
• 1:21:22
  I mean, you can live in your faith world, right? Every tattoo that I've got has a spiritual meaning to it, whether it's agape, my wife's name, my kids' birthdays. This one is Hebrew calligraphy, and it means my beloved from Song of Solomon. Live free, run strong, live love strong, right? It's like I love to put on And I minister to a lot of incarcerated people that have been in prison for decades for murder or whatever.
• 1:21:57
  Right? And to me, it's an entry point. It's a conversation starter. It's like, you've got tattoos? You're not much different than me.
• 1:22:08
  It's like, you know what? I'm not much different than you. I just haven't made the bad decision that you have. We're all one bad decision away from being where you are, where you were in prison for some decades, right? We're only one bad decision away from that.
• 1:22:22
  So when I can use these as a conversation starter to say, I love you. Stop making bad decisions and be what God created you to be. I'll use that as an entry point. But every single one of these has a deep spiritual meaning to me. And I don't know, I have brown skin.
• 1:22:45
  I don't sit by a pool. I don't. It's not what I do. And I don't drink. So there you go.
• 1:22:51
  I don't know what to say. I don't know how to answer the haters. It's just it is what it is. And I love people, and I will put my reputation on the line all day long, bend over backwards to make sure that people are in the right place at the right time.
• 1:23:05
  Seth Holehouse: Well, that's the perfect final question. So Yeah. If someone wants to get ahold of you, I know we talked about it already, I'll bring up the website goldwithseth.com, which will be in the description below. Phone number, (720) 605-3900. So Kirk, if someone goes to the form, fills it out with their information, or calls, leaves a voice mail because, you know, at at this hour, alright, what's the next step look like?
• 1:23:32
  What happens?
• 1:23:34
  Dr. Kirk Elliott: As usual, all of your listeners are really good, and and that's a good question. I mean, we're a big company, largest silver producer dealer in North America, right? So you'll reach one of my schedulers, and they'll ask you, what was it that Kirk and Seth talked about? What is it that causes you fear, trepidation, what do you want to protect, what are your goals, what are your dreams, what can we help you with. They'll set you up with an appointment with one of my consultants.
• 1:24:00
  I've got dozens of them, I mean a lot. I mean, we're a big company. And they'll drive down deep into your concerns and fears and map out a strategy moving forward using precious metals to protect and preserve and grow and thrive given the world that we're living in. But you know what? All of this is just free.
• 1:24:21
  We just want to be a voice that God has created in your life. And you could say, Kirk, yep, we want to do exactly what you said. Let's do what you do. Or you could say, you know what? I'm not interested in what you just told me.
• 1:24:36
  Take a long walk off a short pier. I'm doing it my way. It's like, great. I don't care. I do care in the sense of I I want you to be in the right place at the right time.
• 1:24:45
  But if you don't like it, I don't care. I I want you to be at peace. And everybody is a different story. Everyone has different backgrounds. Everyone has a different rationale.
• 1:24:57
  They're close to retirement, far away from retirement, different political views, religious views. We're just here to help you achieve some of your goals and bring you financial peace.
• 1:25:09
  Seth Holehouse: Great. Final comment to read from Christie who says, love those tats. God knows your heart. Thank you so much, Seth and Kirk. This was so informative and helped me bigly.
• 1:25:19
  So, Kirk, man, I I I can tell it's been a long day for you. Your voice is worn. You've probably done a lot of these interviews, and I appreciate you doing this late night live q and a. And I I think that we're gonna try to do these at least once a month. They're they're so helpful.
• 1:25:31
  There's there's such good questions too.
• 1:25:34
  Dr. Kirk Elliott: So good. I'm glad you like my tats. Most people don't, but I'm glad that you do, and I love them because it's part of who I am. So, anyways, I I don't mind the late night. I mean, it's it's a passion for me.
• 1:25:49
  It's it's what God created me to do, Seth. And so I don't care if it's early, if it's late and it's the middle of the day. I'm here for you. I'm here to speak truth and wisdom the best that I know how to everybody that's listening. And if you want to reach out, we're here to help you.
• 1:26:05
  Seth Holehouse: Awesome. Well, Kirk, thank you, man. It's been great. Look forward to next time. Thank you.
• 1:26:10
  Take care. Have a wonderful night.
• 1:26:12
  Dr. Kirk Elliott: Awesome, brother. We'll see you. Alright.