Latest / The Paul Barron Crypto Show / Gold vs U.S. Bitcoin Reserve ️‍🔥Andy Schectman INTERVIEW

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Gold vs U.S. Bitcoin Reserve ️‍🔥Andy Schectman INTERVIEW · The Paul Barron Crypto Show

• 0:07
  Speaker 1: Trump's tariffs, tokenized gold.
• 0:09
  Speaker 2: We're going to be looking into all of that along
• 0:11
  Speaker 2: with what's happening in the bricks nations today. It's gonna
• 0:14
  Speaker 2: be a good one. Moname is Paul Barre. Welcome back
• 0:16
  Speaker 2: in the tech path. I want to thank our sponsor
• 0:17
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• 0:20
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• 0:25
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• 0:35
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• 0:41
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• 0:45
  Speaker 2: need for sure. Today I wanted to bring in Andy Scheckman.
• 0:49
  Speaker 2: He's been with us before. He is the owner, president,
• 0:51
  Speaker 2: owner of Miles Franklin and this is a gold company.
• 0:54
  Speaker 2: But Andy's been out there in the market. You've seen
• 0:56
  Speaker 2: what's going on.
• 0:57
  Speaker 1: Andy.
• 0:57
  Speaker 3: How are you, Paul, good to see your brother, I'm good.
• 1:00
  Speaker 3: Thank you crazy times, that's for.
• 1:02
  Speaker 1: Sure, no doubt. Let's lead off.
• 1:04
  Speaker 2: I want to get into some things that Trump is
• 1:07
  Speaker 2: claiming around bricks.
• 1:09
  Speaker 3: Take a look, They said, sir, what about the brick states.
• 1:13
  Speaker 4: They're going to take over the dollar, the sanctity of
• 1:15
  Speaker 4: the dollar. They're going to create a new currency to
• 1:17
  Speaker 4: rule the world.
• 1:18
  Speaker 3: I said, no, they're not.
• 1:19
  Speaker 5: They said, yes, they are, sir, They said it.
• 1:21
  Speaker 4: I said, no, they're not. The First thing I said,
• 1:23
  Speaker 4: is any brick state that even mentions the destruction of
• 1:26
  Speaker 4: the dollar will be charged a one hundred and fifty
• 1:29
  Speaker 4: percent tariff plus. We're not going to do business with him,
• 1:32
  Speaker 4: and that includes China and.
• 1:34
  Speaker 3: The brick states just broke up. I don't know what
• 1:36
  Speaker 3: the hell happened to him.
• 1:36
  Speaker 4: We haven't heard from the brick states lately.
• 1:40
  Speaker 2: All right, Andy, what do you think about Trump? He's
• 1:42
  Speaker 2: posturing there again against bricks, obviously, what's your opinion.
• 1:46
  Speaker 3: It's a foolish mistake after four years of the of
• 1:50
  Speaker 3: the stick. I think the carrot would have been better
• 1:54
  Speaker 3: after what the Bank of International Settlements did to the
• 1:57
  Speaker 3: bricks at the twelve hour pulling out of that bridge
• 2:00
  Speaker 3: after it was fully operational. You know, the Bank of
• 2:03
  Speaker 3: International Settlements and their Innovation hub had been behind the
• 2:08
  Speaker 3: development of Mbridge along with China, Hong Kong, Thailand and
• 2:11
  Speaker 3: Nebarab Emirates for four years. And at the twelfth hour
• 2:15
  Speaker 3: as the meeting in Kazan was taking place, you have
• 2:18
  Speaker 3: Augustas Karstons, the head of the BIS guy who's on
• 2:23
  Speaker 3: his way out in June. So well, we can't really
• 2:26
  Speaker 3: be part of any program that is an association with
• 2:29
  Speaker 3: countries that are being sanctioned by the West. It's as
• 2:32
  Speaker 3: if he just realized that Russia was the r and bricks,
• 2:36
  Speaker 3: and I think you will see, to Trump's point, far
• 2:40
  Speaker 3: less transparency in what the bricks are doing. You know,
• 2:44
  Speaker 3: they just welcomed in Indonesia into the Fold as a
• 2:48
  Speaker 3: full member, the largest nickel deposit in the world. We
• 2:51
  Speaker 3: saw just this weekend Iran, Russia and China to enjoint
• 2:55
  Speaker 3: naval exercises. But they will not be as open as
• 2:59
  Speaker 3: they have been in the past, I think because of
• 3:02
  Speaker 3: they see what the West plan is. And when you
• 3:04
  Speaker 3: talk about tariffs one hundred and fifty percent, those aren't tariffs.
• 3:08
  Speaker 3: Those there's sanctions masquerading as tariffs. The bricks for quite
• 3:12
  Speaker 3: some time have not really tried to create a common currency,
• 3:18
  Speaker 3: but rather a common settlement currency, which is very different.
• 3:21
  Speaker 3: They the whole plan was to trade in local currencies
• 3:24
  Speaker 3: and then settle in gold, but they came up with
• 3:29
  Speaker 3: a common settlement currency called the unit. And del Marusov,
• 3:33
  Speaker 3: the former president of Brazil, the head of the New
• 3:35
  Speaker 3: Development Bank Bricks New Development Bank, did say this that
• 3:38
  Speaker 3: in principle they've agreed to a new settlement currency called
• 3:42
  Speaker 3: the unit, forty percent goal back deliverable by two central
• 3:46
  Speaker 3: banks upon demand, a sixty percent local currency. So I
• 3:50
  Speaker 3: think it's the wrong move. I think it will only
• 3:53
  Speaker 3: accelerate the bricks, and I think it will only make
• 3:56
  Speaker 3: them keep their cards closer to the vest. Look, no
• 3:59
  Speaker 3: one wants to mess with Donald Trump or the West
• 4:02
  Speaker 3: in terms of retaliatory measures like sanctions, like tariffs masquerading
• 4:08
  Speaker 3: as sanctions and being cut off from the US market.
• 4:12
  Speaker 3: But at the same time, I think they will continue,
• 4:14
  Speaker 3: and I think this just exemplifies why these countries have
• 4:20
  Speaker 3: that sort of I think found safety in numbers, if
• 4:23
  Speaker 3: you will, because of the Western hegemony and this type
• 4:27
  Speaker 3: of behavior where where a country that is literally insolvent,
• 4:31
  Speaker 3: where you know, we talk about the thirty six trillion
• 4:34
  Speaker 3: in debt, Well, what about the one hundred and seventy
• 4:36
  Speaker 3: five trillion in unfunded liability. We're a country that owes
• 4:39
  Speaker 3: twenty eight trillion in treasuries that are coming due by
• 4:42
  Speaker 3: twenty twenty eight, will only take in fifteen trillion in
• 4:45
  Speaker 3: tax revenue. Where does all that come from? If not
• 4:48
  Speaker 3: four countries continuing to want to hold our US treasuries,
• 4:52
  Speaker 3: which have been pretty poorly performing over the last year
• 4:55
  Speaker 3: or two, especially as rates move higher. I think it's
• 4:58
  Speaker 3: the wrong move, honest, and I think it will have
• 5:02
  Speaker 3: a negative reverberations over the next four years. I guess
• 5:06
  Speaker 3: we'll have to see, and only time will tell. But
• 5:09
  Speaker 3: it wouldn't have been the move that I would have made,
• 5:11
  Speaker 3: quite to the contrary, would have been completely opposite of that.
• 5:13
  Speaker 3: But look, I'm happy he's here. I'm happy for many
• 5:16
  Speaker 3: of the things he's doing. But I do take exception
• 5:19
  Speaker 3: and disagree with that.
• 5:21
  Speaker 2: And you look at the value of the dollar. The
• 5:24
  Speaker 2: Dixie has been declining considerably. Many people say that this
• 5:27
  Speaker 2: is somewhat of an orchestrated fall.
• 5:30
  Speaker 1: What is your thought on that?
• 5:31
  Speaker 2: Because this would have an immediate impact on what's going
• 5:33
  Speaker 2: on on bricks.
• 5:35
  Speaker 3: Yeah, I mean, if you wanted to find a villain
• 5:39
  Speaker 3: so to speak, Xijingping and Putin and Nopek, and how
• 5:44
  Speaker 3: could they do this Saudi Arabia? How could they do
• 5:46
  Speaker 3: this to it? Certainly incentivizing this villainous act would be
• 5:50
  Speaker 3: one way to do it. Look, I mean, I think
• 5:52
  Speaker 3: Trump understands that a reset is in order, and you
• 5:56
  Speaker 3: can fall on the sword, you can inflate, you can default,
• 5:59
  Speaker 3: or you can find a villain. And you know this
• 6:04
  Speaker 3: just in my mind, accelerates the dollarization, but done so
• 6:08
  Speaker 3: in a much more covert manner. And we've seen that.
• 6:10
  Speaker 3: We've seen the acceleration of accumulation of gold and other commodities.
• 6:15
  Speaker 3: But net net, since twenty fourteen, the central banks of
• 6:18
  Speaker 3: the world have been sellers of US treasures. That hasn't stopped,
• 6:22
  Speaker 3: and they've been replacing it with things like gold because
• 6:24
  Speaker 3: gold has doubled the performance of the ten year treasury
• 6:27
  Speaker 3: with no counterparty risk, with no sanction risk. Look at
• 6:29
  Speaker 3: last year, gold is up forty percent, treasures are up
• 6:33
  Speaker 3: four and a half percent, and you have inflation, you
• 6:36
  Speaker 3: have default risk, you have sanctioned risk. And why would
• 6:39
  Speaker 3: any of these countries. Why would a country like Saudi
• 6:41
  Speaker 3: Arabia want to pull oil out of the ground with
• 6:44
  Speaker 3: sweat and effort and labor and sell it to us
• 6:46
  Speaker 3: for dollars when we can, with a keystroke during the
• 6:50
  Speaker 3: pandemic create nine trillion of them. And why would they
• 6:53
  Speaker 3: want to reinvest any of their access into treasuries with
• 6:56
  Speaker 3: when we can, with a keystroke create all of those
• 6:59
  Speaker 3: dollars and then buy treasuries with it. It's a rigged game,
• 7:03
  Speaker 3: and I think the rest of the world understands that.
• 7:06
  Speaker 3: And that's why when you look at this lady here,
• 7:11
  Speaker 3: Judy Shelton, I read I interviewed her recently. She was
• 7:15
  Speaker 3: Trump's nominee for a treasure or for head of the
• 7:18
  Speaker 3: Federal Reserve in twenty sixteen, although not confirmed. She has
• 7:23
  Speaker 3: been a advisor to Trump ever since, and she is
• 7:26
  Speaker 3: advocating for fifty year treasuries redeemable in gold. Maybe she
• 7:32
  Speaker 3: understands that the treasury market is something that has lost,
• 7:35
  Speaker 3: I think, appeal to much of the world, and it's
• 7:38
  Speaker 3: no longer about trust us. This will be just fine
• 7:41
  Speaker 3: and more along the lines of we need to see
• 7:43
  Speaker 3: something behind it, standing behind it, rather than just your
• 7:47
  Speaker 3: ability with a keystroke, which many would argue is immoral.
• 7:51
  Speaker 3: I mean, there was no effort taken to create that wealth,
• 7:54
  Speaker 3: but to be able to touch a keyboard. I think
• 7:57
  Speaker 3: there's a lot of countries around the world who are
• 8:00
  Speaker 3: are reevaluating the value found in US treasuries. They're not
• 8:03
  Speaker 3: what they once used to be.
• 8:05
  Speaker 2: Well, and you see this because it's happening in Europe.
• 8:08
  Speaker 2: We're starting to see a lot more I think alternate
• 8:12
  Speaker 2: strategies in general. If you look what's happening both in
• 8:14
  Speaker 2: France and Germany, and then you have Elon Muss actually
• 8:18
  Speaker 2: calling for the United States to leave NATO, so which
• 8:21
  Speaker 2: would put some more pressure on American not only American securities,
• 8:25
  Speaker 2: but the dollar for sure in general, especially if you
• 8:28
  Speaker 2: start to see the EU stepping aside, which could get
• 8:31
  Speaker 2: back into this narrat you're talking about around bricks, where
• 8:34
  Speaker 2: a lot of these nations are quietly building an alternate reserve,
• 8:39
  Speaker 2: even though the lure of the American market really is
• 8:42
  Speaker 2: the big stick here. That's the market that everybody wants
• 8:44
  Speaker 2: to be a part of.
• 8:48
  Speaker 3: Yeah, and if he wants to reshore manufacturing, he wants
• 8:52
  Speaker 3: to mitigate you know, look just in the next six months,
• 8:55
  Speaker 3: we have somewhere in the neighborhood seven trillion dollars that
• 8:59
  Speaker 3: we might come up with the pay treasuries that are
• 9:01
  Speaker 3: redeeming or are up for redemption maturing. And at the
• 9:07
  Speaker 3: current rates we're at right now, roughly four percent, he
• 9:10
  Speaker 3: doesn't want to refinance at four percent. So they want
• 9:13
  Speaker 3: to bring down rates. And the way they do that
• 9:15
  Speaker 3: is to bring down the dollar, bring down the stock
• 9:17
  Speaker 3: market so that the FED comes in in lowers rates,
• 9:20
  Speaker 3: and to scare people into leaving equities into buying treasuries,
• 9:25
  Speaker 3: which will lower rates allow the refinancing of this to
• 9:28
  Speaker 3: be much easier a weeker dollar. These are all things
• 9:32
  Speaker 3: that you would want, and maybe it's a form of incentivizing.
• 9:38
  Speaker 3: And then you bring back your manufacturing and look, it's
• 9:43
  Speaker 3: like Shawshank redemption. Andy Dufrain had to crawl through two
• 9:46
  Speaker 3: miles of shit to get to the other side. And
• 9:48
  Speaker 3: I think there is no other way to get to
• 9:50
  Speaker 3: the other side than to deal with this edifice of
• 9:55
  Speaker 3: debt that we've built based upon suppression of interest rates
• 9:58
  Speaker 3: for two decades that have created huge distortions in asset prices,
• 10:02
  Speaker 3: misallocations and resources and capital and there is no way
• 10:07
  Speaker 3: around it without having to pay that price, whether it
• 10:10
  Speaker 3: be by default, hyperinflation, or finding a villain or revaluing gold,
• 10:16
  Speaker 3: which is what Judy Shelton in essence is kind of saying. Yeah,
• 10:20
  Speaker 3: of course, it's held in the gold revaluation account. I
• 10:22
  Speaker 3: know you mentioned offline Cynthia Loomis and then was part
• 10:26
  Speaker 3: of her plan head of the Dutch National Bank. The
• 10:29
  Speaker 3: members of the Bundesbank are all calling for gold to
• 10:31
  Speaker 3: be revalued, after all selled in the gold revaluation account.
• 10:34
  Speaker 3: That is one angle as well, and with what's happening
• 10:37
  Speaker 3: on COMEX and the LBMA, that could be a possibility.
• 10:40
  Speaker 3: But yes, I look at the moves that are being
• 10:43
  Speaker 3: made both in Europe and globally, and it is if
• 10:46
  Speaker 3: he is incentivizing this type of controlled demolition a reset,
• 10:53
  Speaker 3: and what better person to do it than the person
• 10:55
  Speaker 3: who supposedly understands bankruptcy and reorganization better than anyone. Yeah,
• 11:01
  Speaker 3: could it happened, Sure, I wouldn't put it past the changes. Look,
• 11:05
  Speaker 3: I'll say this way, Paul, I think it would be
• 11:08
  Speaker 3: universally agreed upon that we are at such a point
• 11:11
  Speaker 3: when you understand a trillion seconds ago was thirty one,
• 11:14
  Speaker 3: six hundred and eighty eight years ago. And we've been
• 11:16
  Speaker 3: accumulating debt at the tune of one hundred one thousand
• 11:19
  Speaker 3: dollars a second, or a trillion dollars every one hundred days,
• 11:23
  Speaker 3: which took two hundred years to do the first time.
• 11:26
  Speaker 3: We are so far indebted, so far past that rubicon,
• 11:29
  Speaker 3: that it will take things that are shock in awe.
• 11:33
  Speaker 3: It will take very drastic measures to address this. And
• 11:36
  Speaker 3: maybe this is the first step in that in that journey.
• 11:40
  Speaker 2: Okay, so there's some stuff do unpacked there. But one
• 11:43
  Speaker 2: thing I want to go to as a clip, This
• 11:45
  Speaker 2: is Trump talking that maybe he's actually admitting it. I
• 11:48
  Speaker 2: believe that a recession is incoming.
• 11:51
  Speaker 1: Take a look.
• 11:53
  Speaker 6: Let me stay on the economy for a moment, because
• 11:55
  Speaker 6: there are rising worries about a slowdown. You've got the
• 11:58
  Speaker 6: Atlanta Federal Reserve saying we're going to have a contraction
• 12:00
  Speaker 6: in the first quarter. Look, I know that you inherited.
• 12:03
  Speaker 3: A mess, and I've been here too far.
• 12:05
  Speaker 6: Are you expecting a recession this year?
• 12:10
  Speaker 5: I hate to predict things like that. There is a
• 12:13
  Speaker 5: period of transition because what we're doing is very big.
• 12:17
  Speaker 5: We're bringing wealth back to America.
• 12:19
  Speaker 3: That's a big thing.
• 12:21
  Speaker 5: And there are always periods of it takes a little time.
• 12:26
  Speaker 5: It takes a little time.
• 12:28
  Speaker 6: Can you give us a sense of whether or not
• 12:30
  Speaker 6: we're going to get clarity for the business community.
• 12:32
  Speaker 5: Well, I think so, but you know, the tariffs could
• 12:34
  Speaker 5: go up as time goes by, and they may go up,
• 12:37
  Speaker 5: and you know, I don't know if it's predictability.
• 12:40
  Speaker 3: I think no.
• 12:41
  Speaker 5: I think that they say that, you know, it sounds
• 12:43
  Speaker 5: good to say, but for years, the globalists, the big globalists,
• 12:49
  Speaker 5: have been ripping off the United States. They've been taking
• 12:51
  Speaker 5: money away from the United States, and all we're doing
• 12:53
  Speaker 5: is getting some of it back and we're going to
• 12:56
  Speaker 5: treat our country fairly.
• 12:59
  Speaker 2: So I mean, definitely did not go in there. Old
• 13:01
  Speaker 2: Trump would have said never, not a recession, not on
• 13:04
  Speaker 2: my watch kind of thing. He didn't necessarily say that,
• 13:06
  Speaker 2: So it could be one of those things where he
• 13:08
  Speaker 2: is relinquishing that to your point, seven trillion in debt
• 13:12
  Speaker 2: right now. Possibly could be the pressure on Trump saying, hey,
• 13:16
  Speaker 2: we got to lower these rates, which could be implemented
• 13:19
  Speaker 2: by what's going on with not only the stock market,
• 13:22
  Speaker 2: the dollar, and even the crypto market.
• 13:24
  Speaker 1: To a certain extent.
• 13:25
  Speaker 2: But I want to jump back to your potential out
• 13:28
  Speaker 2: on this, and that is the revaluation of gold. How
• 13:32
  Speaker 2: much of an impact would that have? Andy If gold
• 13:35
  Speaker 2: was revalued.
• 13:37
  Speaker 3: Every four thousand dollars increase in the price of gold
• 13:39
  Speaker 3: would give the Treasury General account a trillion dollars free
• 13:43
  Speaker 3: and clear. And it's not so far outlandish to think
• 13:48
  Speaker 3: that it could happen over my shoulder. You have Roosevelt there.
• 13:50
  Speaker 3: His first act in office in April at thirty three
• 13:52
  Speaker 3: was to confiscate gold. Gold was twenty bucks an ounce.
• 13:55
  Speaker 3: That coin, right there is a twenty dollars gold coin
• 13:58
  Speaker 3: which was interchangeable with a twenty dollar gold certificate. Back then,
• 14:05
  Speaker 3: a dozen eggs were a nickel. He paid everyone twenty
• 14:07
  Speaker 3: sixty seven, so they thought, geez, you know, that's eleven
• 14:10
  Speaker 3: dozen eggs. That's pretty good. Or twelve dozen eggs, that's
• 14:13
  Speaker 3: pretty good. You know, I'm making a lot of money
• 14:15
  Speaker 3: on this deal. But then he devalued the dollar immediately
• 14:19
  Speaker 3: by forty percent, revaluing gold by forty percent. When Nixon
• 14:23
  Speaker 3: closed the gold window in nineteen seventy one, he then
• 14:25
  Speaker 3: reval at thirty five bucks an ounce, which is by
• 14:29
  Speaker 3: the way, what it is on every western central bank
• 14:31
  Speaker 3: balance sheet to this day except in the United States,
• 14:33
  Speaker 3: it's forty two to twenty two because in seventy two
• 14:36
  Speaker 3: he revalued gold from thirty five to thirty eight and
• 14:39
  Speaker 3: then in seventy three from thirty eight to forty two
• 14:42
  Speaker 3: to twenty two, and the market has done the rest
• 14:44
  Speaker 3: to revalue it to where it is now. It's held
• 14:46
  Speaker 3: in the Gold Revaluation Account, that's the name of it.
• 14:48
  Speaker 3: You can't make it up on every central bank balance sheet.
• 14:52
  Speaker 3: And as I was saying, the head of the Dutch
• 14:53
  Speaker 3: National Bank for two years has been saying we need
• 14:55
  Speaker 3: to revalue gold at least market to market to to
• 15:00
  Speaker 3: offset our liabilities. Ass have members of the Bundesbank, as
• 15:03
  Speaker 3: has Cynthia Loomis, in a effort to fund the strategic
• 15:08
  Speaker 3: pitcoin account. And then you got guys like James Rickards
• 15:12
  Speaker 3: who says, look, twenty four thousand dollars announce gold and
• 15:14
  Speaker 3: he comes to that by using a forty percent gold
• 15:16
  Speaker 3: backing and M one numbers dividing it into the number
• 15:19
  Speaker 3: of ounces of gold that we supposedly hold at Fort Knox,
• 15:24
  Speaker 3: and the FED.
• 15:26
  Speaker 7: And the Denver and New York Mint and he comes
• 15:29
  Speaker 7: up with twenty four thousand dollars an ounce, which would
• 15:31
  Speaker 7: add six trillion free and clear to the Treasury General account,
• 15:34
  Speaker 7: which would be able to start to work down our
• 15:36
  Speaker 7: debt and inspire confidence, and to Judy's point, start backing
• 15:41
  Speaker 7: treasuries redeemable in gold, and fifty year treasuries with a
• 15:44
  Speaker 7: very very low, if not a zero coupon. These are
• 15:47
  Speaker 7: the kind of moves that you would have to make
• 15:49
  Speaker 7: in an effort to do this. Now, I'm just going
• 15:53
  Speaker 7: to go out on a limit, and I'm not saying
• 15:55
  Speaker 7: that this will happen at all, but you know, you
• 15:57
  Speaker 7: want to talk craziness. Revalue gold to one hundred and
• 16:01
  Speaker 7: forty two thousand announced, and the debt is offset immediately
• 16:04
  Speaker 7: with your with your assets. Liabilities are but that has
• 16:09
  Speaker 7: been taken to count the unfunded liabilities of Medicare, Medicaid,
• 16:12
  Speaker 7: social Security.
• 16:13
  Speaker 3: But the balance sheet? Could it be done? Sure? The
• 16:16
  Speaker 3: US Treasury says, well, We'll pay one hundred and forty
• 16:18
  Speaker 3: two thousand for everyone that wants to sell their gold,
• 16:20
  Speaker 3: every country that would like to deliver it to the
• 16:23
  Speaker 3: US Treasury. Is it pie and the sky? Sure? Could
• 16:26
  Speaker 3: it happened. Why not with bitcoin at one hundred thousand,
• 16:28
  Speaker 3: Why couldn't gold all the central banks have been accumulating
• 16:32
  Speaker 3: and handover fist and when you see what is happening
• 16:34
  Speaker 3: right now on the LBMA, which is in essence and
• 16:38
  Speaker 3: default in my opinion, and the amount of gold that
• 16:40
  Speaker 3: has been shifted, over twenty million ounces since really since
• 16:43
  Speaker 3: November of last year, have come into the United States.
• 16:47
  Speaker 3: We've become a net importer of gold. Largest deliveries we've
• 16:50
  Speaker 3: ever seen in the history of the COMEX coming to
• 16:53
  Speaker 3: the gold ever in the February contract almost six million
• 16:56
  Speaker 3: ounces JP Morgan delivering four billion gold into Comas for
• 17:01
  Speaker 3: a customer who's got four billion? Who is that customer?
• 17:04
  Speaker 3: Is it the Fed? Is it the Treasury? Is it
• 17:06
  Speaker 3: Warren Buffett? Who knows? The point is that things crazy,
• 17:09
  Speaker 3: things are happening that no one's ever seen in my
• 17:12
  Speaker 3: thirty five year career as it pertains to gold, the
• 17:14
  Speaker 3: importation of it, the reshoring of it. I'll say this,
• 17:18
  Speaker 3: I don't know what they have in store for gold,
• 17:21
  Speaker 3: but it seems very American centric and it's so far
• 17:24
  Speaker 3: of an outlier. Paul and anything I've ever seen, I
• 17:27
  Speaker 3: can't even begin to explain.
• 17:29
  Speaker 2: So there's definitely some things going on in the market,
• 17:32
  Speaker 2: and it's so many things happening at once. Right now,
• 17:35
  Speaker 2: you mentioned bitcoin over one hundred and eight thousand on
• 17:37
  Speaker 2: it's all time high. You've got inflation now literally falling
• 17:41
  Speaker 2: off a cliff if you look at trueflation numbers coming
• 17:44
  Speaker 2: in from around three percent down to where it's reporting
• 17:47
  Speaker 2: at around one point three right now. Granted, chair Pal's
• 17:50
  Speaker 2: probably going to see some numbers coming in with CPI tomorrow.
• 17:53
  Speaker 1: I think it's this week.
• 17:55
  Speaker 2: And do we get a position right now where maybe
• 17:58
  Speaker 2: the Fed does pivot quickly and how much of an
• 18:02
  Speaker 2: impact would that have do you think on traditional markets
• 18:05
  Speaker 2: bitcoin and gold in general. If we do see a
• 18:08
  Speaker 2: pivot much sooner.
• 18:10
  Speaker 3: One would expect it to be quite bullish. Of course,
• 18:14
  Speaker 3: you know, those inflation numbers are flat out lie. They
• 18:18
  Speaker 3: are not one point three. That's what they tell us,
• 18:20
  Speaker 3: That's what they want us to believe. I wish it
• 18:23
  Speaker 3: were only that way. You'll go to shadowstats dot com.
• 18:26
  Speaker 3: He'll say add eight to that, and you're closer to
• 18:29
  Speaker 3: nine or ten percent than you are too. But in
• 18:33
  Speaker 3: order to accomplish the agenda, if this is the agenda.
• 18:35
  Speaker 3: You have to incentivize the lowering of rates. Well, you
• 18:39
  Speaker 3: bring down inflation and slow down the economy. And I
• 18:42
  Speaker 3: mean my mind, we're heading to stagflation, which would be
• 18:45
  Speaker 3: you know, higher inflation coupled with little or no economic
• 18:49
  Speaker 3: growth and a slowing economy and higher unemployment. And that
• 18:53
  Speaker 3: to me is more reality. But I think indeed, if
• 18:56
  Speaker 3: if this is what they are trying to do, yes,
• 18:59
  Speaker 3: you will see them pivot and you will see things
• 19:00
  Speaker 3: like gold do very well. And maybe that's why we've
• 19:04
  Speaker 3: seen a mad dash, a scramble. If you will buy
• 19:07
  Speaker 3: not only the most well funded traders on the planet
• 19:09
  Speaker 3: pub but the most well informed, and we can say
• 19:12
  Speaker 3: what we want about the vials of the central banks.
• 19:15
  Speaker 3: They know the playbook period and they have been buying
• 19:17
  Speaker 3: gol across the globe for years now and repatriating it.
• 19:21
  Speaker 3: We've seen over forty banks. I'll just just mention, see
• 19:24
  Speaker 3: if I can pull it up here in a second,
• 19:27
  Speaker 3: just in a simple Google search. These are the banks
• 19:30
  Speaker 3: that have brought their gold home over the last few years,
• 19:32
  Speaker 3: from the New York Fed, the Bank of England, Germany, Austria, Slovakia, Argentina,
• 19:37
  Speaker 3: the Netherlands, Saudi Arabia, Hungary, Belgium, Egypt, Senegal, Romania, Nigeria, Poland, Ghana, India, Turkey, France, Serbia, Venezuela, Algeria, Cameroon,
• 19:45
  Speaker 3: South Africa, Chuckolslovakia, just to name a few. We saw
• 19:48
  Speaker 3: the Bank of England by massive amounts of gold over
• 19:52
  Speaker 3: the last couple of years, bring it all home to India,
• 19:54
  Speaker 3: including one hundred metric tons they've held at the Bank
• 19:56
  Speaker 3: of England since nineteen ninety one. And we're seeing this
• 20:01
  Speaker 3: as a continual trend. Now that the Bank of England
• 20:04
  Speaker 3: is the you know, more or less the backbone of
• 20:06
  Speaker 3: the LBMA. The LBMA is a T plus one settlement
• 20:10
  Speaker 3: where you do your trade on Monday. You had T
• 20:14
  Speaker 3: one is the settlement day Tuesday. You're supposed to have
• 20:17
  Speaker 3: access to your delivery on Wednesday. They're now T plus
• 20:21
  Speaker 3: eight to nine weeks and that's a default in my opinion.
• 20:25
  Speaker 3: They say that it is a lack of manpower and trucks.
• 20:27
  Speaker 3: No it's not. It's much more in that the LBMA
• 20:30
  Speaker 3: has thirty six million ounces available. Of the two hundred
• 20:34
  Speaker 3: and seventy nine million ounces stored on paper, only thirty
• 20:37
  Speaker 3: six million is unencumbered. This is standing against three hundred
• 20:40
  Speaker 3: and eighty million ounces an outstanding spot contracts. That's almost
• 20:44
  Speaker 3: eleven times as much paper as there are bars. That's
• 20:47
  Speaker 3: a big problem. And we've seen the largest monthly outfull
• 20:51
  Speaker 3: flow of silver ever out of the LBMA this last month.
• 20:56
  Speaker 3: Their float is only about two hundred and seventy million ounces.
• 20:59
  Speaker 3: They're trading two zo point nine billion. With the b
• 21:01
  Speaker 3: ounces per day in paper contracts percent non backed, that's
• 21:08
  Speaker 3: three and a half times the annual global mind supply.
• 21:11
  Speaker 3: There's a rumor out there and I can't substantiate it,
• 21:13
  Speaker 3: that that he's pissed off at the aristocrats of Europe
• 21:18
  Speaker 3: and he's getting back at them and started with moving
• 21:21
  Speaker 3: live or to Sofur, and that Powells in Kahotswa trump
• 21:24
  Speaker 3: on this, and that he's trying to blow up the
• 21:26
  Speaker 3: Bank of England and the banks surrounding at the rumors
• 21:30
  Speaker 3: that the US banks have gone long. The European banks
• 21:33
  Speaker 3: are wickedly short to this degree, ninety percent short and
• 21:36
  Speaker 3: there will be a failure of delivering. So what did
• 21:38
  Speaker 3: the Bank of England do? Yeah, we're short on manpower
• 21:41
  Speaker 3: and trucks. I know, we've delivered, you know, gazillion ounces
• 21:44
  Speaker 3: to you already, but now we're short on manpower and trucks,
• 21:47
  Speaker 3: so we're gonna have to make it an eight to
• 21:49
  Speaker 3: ten week delivery instead of t plus one. That's a default.
• 21:53
  Speaker 3: This is battle lines are being drawn, and whatever is
• 21:56
  Speaker 3: happening with gold is way an outlier off the charts
• 22:01
  Speaker 3: where these contracts they've been able to do for years
• 22:04
  Speaker 3: and years and years and years in cahoots with the COMEX,
• 22:06
  Speaker 3: where the COMEX would set the price, the lbm A
• 22:09
  Speaker 3: would be the delivery mechanism. But really very few people
• 22:12
  Speaker 3: stood for delivery. It was. It was a speculative endeavor
• 22:16
  Speaker 3: or hedging endeavor. And now all of a sudden, you
• 22:19
  Speaker 3: see the West, who has always been a net exporter,
• 22:21
  Speaker 3: since November, we're a net importer. And started with the
• 22:25
  Speaker 3: Trump tariffs. That was the ruse, if you will, I
• 22:27
  Speaker 3: think to incentivize or to to make the the the
• 22:32
  Speaker 3: banks in England think no big deal that. You know,
• 22:34
  Speaker 3: there's a whole bunch of naked contracts on comes. These
• 22:38
  Speaker 3: banks need to do what's called exchange for physical where
• 22:41
  Speaker 3: you take a COMEX contract which is highly fungible, you
• 22:44
  Speaker 3: send it to London, they get the cash, London sells them,
• 22:48
  Speaker 3: sends the metal back, and it's been going back and
• 22:49
  Speaker 3: forth like that forever. Well now it seems to be
• 22:52
  Speaker 3: a one way reshoring on shoring trend, and I think
• 22:56
  Speaker 3: the Bank of England's like, aha, this is deeper than
• 22:58
  Speaker 3: we think, and has put on the brakes. So yes,
• 23:02
  Speaker 3: I think there are a lot of things happening that
• 23:04
  Speaker 3: could very quickly not only change the landscape economically, but
• 23:08
  Speaker 3: for very much so for the price of gold. And
• 23:10
  Speaker 3: I do think that it will be pegged to a system,
• 23:15
  Speaker 3: to a new system, and it will be revalued, and
• 23:17
  Speaker 3: it would benefit all the central banks. They're the ones
• 23:19
  Speaker 3: who've been buying it and reshoring it themselves, really going
• 23:22
  Speaker 3: back to twenty seventeen. So I wouldn't put that by
• 23:26
  Speaker 3: Trump at all. I think he understands this. And then
• 23:28
  Speaker 3: having Scott Assent as your Treasury secretary, who, when he
• 23:31
  Speaker 3: was running a hedge front, gold was his largest holding,
• 23:33
  Speaker 3: and having an advisor like Judy Shelton who advocates for
• 23:37
  Speaker 3: issuing treasuries collared by and redeemable in golden fifty years.
• 23:40
  Speaker 3: The first step would be to reshore. The second step
• 23:43
  Speaker 3: would be to revalue, which would then re liquefy the treasury,
• 23:46
  Speaker 3: mitigate the debt, and then install confidence through stable coins,
• 23:52
  Speaker 3: is what Judy said. Issue stable coins off of it,
• 23:54
  Speaker 3: she says, and create a system where we now have confidence.
• 24:00
  Speaker 3: All that pegged a blockchain so everyone can see not
• 24:03
  Speaker 3: only the amount of gold, the amount of spending, the
• 24:04
  Speaker 3: amount of stable coins, everything, transparency and commodities. As Oultaan
• 24:08
  Speaker 3: Poser says, breton Woods three the system we're in now
• 24:11
  Speaker 3: where breton Woods one was after World War Two, Bretonwood's
• 24:14
  Speaker 3: two loosely when we signed the deal with the Saudis
• 24:17
  Speaker 3: who they did not sign the exclusivity deal last year
• 24:20
  Speaker 3: to re up that fifty year deal. They said, will
• 24:23
  Speaker 3: still take dollars, but not exclusively. Bretonwood's three a system,
• 24:27
  Speaker 3: as Zultan says, and one of the smartest people on
• 24:29
  Speaker 3: the planet, which will be identified by commodities and transparencies.
• 24:33
  Speaker 3: So could this be happening? Absolutely? Do I know it
• 24:37
  Speaker 3: to be. No, I have no idea. It could be
• 24:39
  Speaker 3: Trump tariffs, it could be Basle three. The bossl three
• 24:42
  Speaker 3: regulations go into effect July first in the United States,
• 24:45
  Speaker 3: and that is the goal that is held in physical
• 24:49
  Speaker 3: possession unencumbered on the balance sheet is tier one, and
• 24:52
  Speaker 3: they have massive amounts of rehypothicated, unallocated, naked positions that okay,
• 24:59
  Speaker 3: they're could it be that sure? Could it be the
• 25:02
  Speaker 3: tariff's sure? Is it? I don't think so. I think
• 25:04
  Speaker 3: it's much deeper than that. There is no reason that
• 25:07
  Speaker 3: the most powerful bank in the world would have reclassified
• 25:09
  Speaker 3: gold tier one. And to see the moves that we
• 25:12
  Speaker 3: are making so drastically, just tell me there's something deeper
• 25:16
  Speaker 3: in store for the price of gold. All right.
• 25:17
  Speaker 2: I want to go to a clip here because this
• 25:19
  Speaker 2: is Senator Lammas who's talking about reintroducing the Bitcoin Act,
• 25:23
  Speaker 2: and the reason being because obviously digital assets will be
• 25:26
  Speaker 2: a part of this whole possibly new evolution of where
• 25:30
  Speaker 2: the finance market is going.
• 25:31
  Speaker 1: Let me play this clip for you.
• 25:33
  Speaker 2: I'm so pleased to announce that today I will be
• 25:37
  Speaker 2: reintroducing the Bitcoin Act.
• 25:43
  Speaker 8: The Lumbas Plan and a modest strategic bitcoin reserve plan.
• 25:48
  Speaker 8: Neutralizes the national debt, acquire bitcoin consistently consistently daily between
• 25:54
  Speaker 8: now and the point ninety nine. Point ninety nine is
• 25:57
  Speaker 8: January of the year twenty thirty five, and then we
• 25:59
  Speaker 8: use surpluses from the US government to continue to save
• 26:03
  Speaker 8: in bitcoin. It's worth one hundred and six trillion dollars
• 26:07
  Speaker 8: if you're more aggressive. The triple max plan negates the
• 26:10
  Speaker 8: national debt. The Superpower plan creates a global superpower. We
• 26:16
  Speaker 8: can back the US dollar with bitcoin reserves, all right,
• 26:22
  Speaker 8: So there you have it.
• 26:23
  Speaker 2: Does when you look at the bitcoin reserve, does it
• 26:25
  Speaker 2: threaten gold in general? Or is this something that you
• 26:28
  Speaker 2: feel like because the MAXI theory is that other countries
• 26:32
  Speaker 2: would sell their gold for bitcoin.
• 26:34
  Speaker 1: What are your thoughts?
• 26:36
  Speaker 3: I think that's preposterous, to be honest with you, you know,
• 26:39
  Speaker 3: I mean, it's easy for Michael Sailor to say that,
• 26:42
  Speaker 3: you know, it certainly benefit micro strategies. I think it's
• 26:47
  Speaker 3: I think it's irresponsible and stupidity to be honest with you.
• 26:51
  Speaker 3: The BIS would not have reclassified gold as the only
• 26:54
  Speaker 3: other Tier one reserve asset, and the central banks would
• 26:56
  Speaker 3: be buying bitcoin, not gold. I think it's silly to
• 27:00
  Speaker 3: be honest, And I'm not raining on the bitcoin parade.
• 27:03
  Speaker 3: I'm just simply saying I don't think that has a
• 27:06
  Speaker 3: snowballs chance in hell of happening. To be honest with you,
• 27:09
  Speaker 3: I think the responsible way of looking at this is
• 27:12
  Speaker 3: that yes, it could be a reserve asset, and there
• 27:15
  Speaker 3: is value for it to be as an asset. But
• 27:17
  Speaker 3: to advocate the United States government to sell all of
• 27:21
  Speaker 3: their gold, which they are taking the initiative of reshoring,
• 27:24
  Speaker 3: they wouldn't reshort to sell it. They could sell it
• 27:26
  Speaker 3: wherever it is. That's not what's going to happen. I
• 27:29
  Speaker 3: think alongside one another, look assets make people wealthy, not
• 27:35
  Speaker 3: bank accounts. And if indeed this is what he is doing,
• 27:37
  Speaker 3: he's accumulating assets and reshoring them. Same thing with the bitcoin.
• 27:41
  Speaker 3: It is an asset within a strategic account. But I
• 27:45
  Speaker 3: don't think that it will be the backbone of a
• 27:48
  Speaker 3: new financial system. You cannot have something like bitcoin, which
• 27:53
  Speaker 3: can fall by twenty or thirty percent in a very
• 27:55
  Speaker 3: short period of time, be standing behind a system. But
• 28:00
  Speaker 3: it certainly can be an asset. It can certainly be
• 28:03
  Speaker 3: something to help pay down your debt. It has a role,
• 28:07
  Speaker 3: but I don't think it has a role as the
• 28:11
  Speaker 3: backbone of the US dollar or whatever that new US
• 28:16
  Speaker 3: dollar truly is is gold time over No, absolutely not,
• 28:20
  Speaker 3: And Nora is bitcoin and they should be complementary.
• 28:23
  Speaker 2: Andy, before I let you go, when you look at
• 28:25
  Speaker 2: a crypto portfolio, what are you holding today?
• 28:29
  Speaker 3: You know, I'm a guy that since I was nineteen
• 28:31
  Speaker 3: years old, Paul, if I couldn't hold it in my hand,
• 28:33
  Speaker 3: it was difficult for me. But because I am open minded,
• 28:36
  Speaker 3: because I do have relationships with Natalie and Mark and
• 28:40
  Speaker 3: the XRP community, doing shows all the time with those
• 28:43
  Speaker 3: guys black Swan and many others, and also Vick Swear
• 28:51
  Speaker 3: with THETA. I have dipped my toe. I have THETA,
• 28:56
  Speaker 3: I have XRP, and I have a little bit of bitcoin,
• 28:59
  Speaker 3: just because I didn't want, after all of these years,
• 29:03
  Speaker 3: to say, damn it, you're an idiot. Why didn't you
• 29:05
  Speaker 3: at least dip your toe. Now I'm a gold bug.
• 29:08
  Speaker 3: I own a precious metals company, so I have an
• 29:10
  Speaker 3: open mind. I have a little bit, just enough to say, yeah,
• 29:14
  Speaker 3: I can come and talk bitcoin with you. I own
• 29:16
  Speaker 3: a tiny bit of it, but you know, it helps
• 29:19
  Speaker 3: me keep my mind open enough to say I have
• 29:22
  Speaker 3: a little bit, not enough to be someone to come
• 29:25
  Speaker 3: on your show and talk to about the virtues of it,
• 29:27
  Speaker 3: but enough to say, yeah, you know, this is a
• 29:30
  Speaker 3: chance stone a little bit. I don't want to be
• 29:31
  Speaker 3: left behind and if things go where a lot of
• 29:34
  Speaker 3: the people in the bitcoin community think they'll go, like Michael, well,
• 29:37
  Speaker 3: then a little bit will be worth a lot.
• 29:40
  Speaker 1: That is true.
• 29:40
  Speaker 2: Everybody says, you know, if you hold just one bitcoin,
• 29:43
  Speaker 2: that's pretty much in the future you're a millionaire. We'll
• 29:46
  Speaker 2: see how it goes, because I think still it's a
• 29:48
  Speaker 2: great digital asset when you look at the volatility of
• 29:52
  Speaker 2: what it means, and again it's relationship to where gold
• 29:55
  Speaker 2: might be and stable coins. Of course, we'll see in
• 29:58
  Speaker 2: the ecosystem of crypto continue to grow.
• 30:01
  Speaker 1: Andy, it's always great to have you on.
• 30:03
  Speaker 2: I mean, you always kind of throw some curveballs at me,
• 30:06
  Speaker 2: so it's been good having you today. Thanks again for
• 30:08
  Speaker 2: stopping in.
• 30:08
  Speaker 3: We appreciate I appreciate it, man, I appreciate you having
• 30:11
  Speaker 3: me on. You know, I know I'm not the normal
• 30:13
  Speaker 3: guy that you have on your show, but I like
• 30:15
  Speaker 3: your open mindedness too. And if we all, you know,
• 30:19
  Speaker 3: if we focus solely on on on one one track,
• 30:23
  Speaker 3: we learn more and more about less and less till
• 30:26
  Speaker 3: we know everything about nothing. And if we don't listen
• 30:29
  Speaker 3: to other viewpoints, we never grow. So I do appreciate it.
• 30:32
  Speaker 3: I respect it. I always enjoy coming on and look
• 30:35
  Speaker 3: forward to picking up where we left off, hopefully not
• 30:37
  Speaker 3: too far down the road.
• 30:37
  Speaker 1: But all right, thank you, all right, appreciate it.
• 30:40
  Speaker 3: See you man.
• 30:41
  Speaker 2: Okay, so you guys are tuned in right now, jump
• 30:44
  Speaker 2: over to the Diamond Circle. It's our own private member group.
• 30:47
  Speaker 2: And also you can get in on our Telegram group.
• 30:48
  Speaker 2: That's where I'm actually spending a lot of my time
• 30:51
  Speaker 2: these days because people are asking a lot of questions,
• 30:53
  Speaker 2: So join in. It's free to get in on that
• 30:55
  Speaker 2: and follow me out there on X just at Paul Baron.
• 30:57
  Speaker 1: We'll catch you next time right here on tech Path.
• 31:03
  Speaker 3: Mute.