Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / **ALERT** Abram Taylor KNOWS How to Protect Wealth

Transcript

**ALERT** Abram Taylor KNOWS How to Protect Wealth · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:00
Are you, like most average Americans, starting to sense
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that your dollars just aren't going as far as they used to?
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We're seeing a growing number of people start to get an interest
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in the precious metals today. We're fortunate to be joined by
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Mr. Abram Taylor. He's actually one of the biggest
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investors in Goldback, and he's going to share with us his
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journey into the precious metals.
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And we're gonna talk about how precious metals can help protect
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you, protect your wealth, protect your purchasing power.
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Abram, welcome to Ron's Basement.
0:37
Hey Ron, nice to be with you. I've been big fan of your show
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for a while. It's great to see how your
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success has been happening. I see your numbers just climbing
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and climbing. So thanks for having me on.
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Yeah, I, I, I, I torture a lot of people.
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They watch my video. So on a serious note, I
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appreciate your kind words and you have an interesting journey
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into the precious metals you want to share with us.
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You know what? What your the steps you went
1:01
through as you started to learn about the benefits of silver and
1:05
gold. Yeah, I mean.
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I'd say probably 10 years ago, maybe even a little bit longer,
1:10
just noticing how our government's been reacting to
1:13
how money is and works in the system, and most people aren't
1:18
paying close enough attention to what they're what they're doing
1:21
to us. Inflation is just, it's a hidden
1:23
tax. And you know, most politicians
1:25
don't want to bring up. Or ride on any sort of tax
1:28
increases because they know they can just do it this way and not
1:31
have to have a a bad record or voting for something that people
1:34
are like oh more taxes. No, they they want to perceive
1:37
have the perception of no, I'm the good guy here I'm doing the
1:41
best thing for you guys but underhandedly they're robbing us
1:44
blind. So my journey is as far as
1:49
realizing what was going on is is when I start having kids.
1:53
And I said, you know, well, what's the future going to be
1:54
like if we're on this on this path right now to just spending
1:58
and spending and eventually this is going to come come crashing
2:01
down. So I really started watching
2:03
guys like Jim Rickards, Peter Schiff, Andy Scheckman, who
2:07
we've had on the show and just digesting everything I can get
2:10
my hands on because this party's going to stop at some point.
2:13
So where is where is safe? Then I started looking at gold,
2:17
platinum and silver because. I'm going to trust a track
2:21
record of thousands of years compared to just a couple like
2:24
the crypto market. Don't understand it really, and
2:26
I don't really care to. I think it's phony baloney.
2:29
I think the only way blockchain could come to fruition is if you
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have a system where you're you're operating off tokens that
2:35
are backed by gold, something real.
2:38
So I investigated what is real. You know what, We like real
2:41
estate, we like other ventures. But when it all comes down to to
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to bare bones, it has to be what I consider God's money.
2:50
Gold, silver. And that's right.
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I've been sticking my head. So the past 10 years I've been
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buying bars, coins, anything to get my hands on.
2:59
But then I started to even think deeper about OK, well, when the
3:04
system starts to wind down, I'm still have to operate in the
3:07
system. I have to go back to the coin
3:09
shop. I have to liquidate my my metals
3:11
and turn it back into Fiat and that really like.
3:16
I'm still part of the system. This still is, this is still
3:19
what we're doing. Then about four years ago I
3:24
walked into my coin shop and I'm going to give him a shout out.
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That's Kevin at Infinity Coins in Idaho Falls.
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Great shop, great guy, love dealing with him, good
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partnership with him. So I came in one day and he
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goes, hey, you're the you're the money guy.
3:36
You you really study what money does, how it works.
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And he goes, I've got a treat for you.
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What do you got? And he flashed these in front of
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me. I'm like, what are those like
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that's gold, money. These things just came out.
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He goes, if anybody that comes from my shop, you'll understand
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this because you understand money.
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So I bought, you know, 4 or $500 worth of gold backs and I sat on
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them for two months and I just kept thinking, wow, this is the
4:03
best money I've ever seen. This is, this is getting away
4:06
from the system. Like when you see when societies
4:09
breakdown, money unfolds. Like Venezuela, Cuba.
4:14
Their money becomes worthless. I'm like Weimar Republic, you
4:16
could bring in a wheelbarrow and get a a can of coke.
4:20
So I noticed these people were starting to shave their jewelry
4:24
like kind of like what the Romans did.
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They're clipping coins. So when it came to bare bones,
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they're they're shaving off their jewelry.
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They're doing whatever they can just to pay in gold and silver.
4:32
Well, that's a very inefficient way to do it.
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So when gold back, these are fungible, these act like cash.
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They they transact like cash. I thought this is the be all you
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can skip the coin shop. And going back into POT and then
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having to reverse course, you can go right to the source and
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people can understand how this works.
4:48
This is cash, just gold, it's gold cash.
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So that's been my journey and I continue to keep investigating
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and looking into more corners and just seeing the fraud and
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seeing the corruption that's going on in our system.
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And that lets me know that I need the right bet.
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And I put a huge bet. I contacted the company and they
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said, well, we're not really taking on investors with.
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We're on our way, I said. I pleaded with him.
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Kevin, over at Infinity. I'm like, you have to let me in
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this thing. I mean, I know that where this
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thing's headed, and I know this is gonna be a great company.
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And I begged him for about a month and he finally he's like,
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OK, you've got great sources. We could.
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You know, if you can help us out, too, with your connections
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and your Rolodex, we'd love to have you on board.
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So I put my money where my mouth was, and I invested in millions.
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Wow. So you you eat your own cooking,
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as they say, right? Yeah, yeah.
5:41
You know, I liked what you said earlier.
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I've, I've heard it said many times about inflation and it
5:47
being a hidden tax and and and you did a great job, at least in
5:52
my mind, solidifying that idea that that, you know, the our,
5:56
our, our elected officials can either raise taxes or they can
6:00
tax us indirectly through inflation.
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And you know, I sometimes get a little upset when I think about
6:07
inflation. Like why do we, you know, the
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target inflation, right. The target official rate of
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inflation is supposed to be that our dollars lose 2% of their
6:18
value per year. Now you and I both know that in
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reality what we've gone through the last several years has been
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way higher than any official number that's reported.
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But it really is a way to kind of secretly or or manipulate
6:34
manipulatively steal wealth from people by just deflating the
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value of the dollar by deflating.
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And it's not just the dollar. It's happening in Japan right
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now at a rate that's, you know, historic levels and it's
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interesting not to get off track here, but the Japanese public
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are are flocking to precious metals.
6:56
Right. If you're looking to buy gold,
6:58
silver, or platinum, do yourself a favor and check out Pinbex,
7:03
the online precious metals bullion dealer and sponsor of
7:07
Ron's Basement. I was a happy customer before
7:10
they offered to support the channel.
7:12
You'll find they have the best prices, quality, and service.
7:17
I think Pinbex is best, and you will too.
7:20
And be sure to tell them that you're from Ron's basement.
7:23
I don't trust anything that comes to me.
7:24
I think America has woke up in the last two years with what's
7:27
gone on with the the Soviet COVID thing that everything is,
7:32
everything is dissected, everything is compartmentalized.
7:35
It's it's all lies. To some extent.
7:37
They've done a great job over the past 15 years of of pushing
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people away from gold and silver, making it seem like, oh,
7:43
that's just the old thinking that's that's dumb.
7:46
Look at the shiny crypto digital coin.
7:48
Look at this and. The whole perception of
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investing is they've they've really did a great job of
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pushing people's mindset away from what is true money.
7:56
And I think people are starting to wake up now, and especially
8:00
with the numbers we're getting back from the Gold Pack Company,
8:03
is most of our people who are buying into our system.
8:07
They're the younger generation, they're understanding that
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there's a lot of smoke and mirrors going on.
8:11
They're not a lot of people, you know tease the younger
8:13
generations. They're not awake, you know,
8:15
and. Are distracted video games
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phones and all the other crap that goes on.
8:18
But they're they're waking up. They're understanding, hey, this
8:21
is all lies and where do I go find the truth Kind of like me
8:25
in a in a in a later age. And they're we're filling the
8:27
gap. I mean, we're selling gold back
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like crazy to the younger generation.
8:32
So it yeah, it's a big way. It is.
8:35
And I had a conversation with the CEO of Gold back a couple
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months ago. He pointed out that same thing,
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that that it's amazing how many younger customers are coming to
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gold back. And I think that's a testament
8:49
to to the fact, like you said that these these younger, the
8:54
the the younger generations have different sources of news and
8:57
information and that they're waking up and probably looking
9:02
out, you know, over the next for them, you know the next 50 years
9:06
or so and thinking what can I do to protect myself.
9:10
And and it's encouraging that they're realizing that it's
9:14
silver and gold. Now I wanna, I wanna bring up
9:15
one thing as well. I agree with you.
9:18
I don't think most people do agree with me on this.
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But I'm a firm believer that just in the last couple of
9:25
months we've seen a real shift in the United States which I
9:31
don't think has materialized yet in terms of pure demand for the
9:35
metals, but an an awareness shift And and people think I'm
9:39
crazy for saying this and that's OK.
9:41
But this the situation where Costco was selling one ounce
9:45
gold bars got so much press. I mean even this morning I just
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saw an article from Good Housekeeping magazine talking
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about Costco selling gold bars that people are really starting
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to wake up, people are starting to become aware.
9:59
This the the most unusual people that would never talk to me
10:03
about silver and gold. I've started to kind of mention
10:06
it and that there's a a a a very early stage percolation, for
10:11
lack of a better term in the precious metals in the United
10:15
States. And I'm going to promise I'm
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going to stop talking here in one second.
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But in that regard, I think it's so important for us to realize
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the United States is still the world's largest economy.
10:26
All right. And we are also one unique thing
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about us, and we're probably one of the only and there's a few
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other Western countries, but we're also a country where the
10:35
reality is almost no one cares about precious metals.
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So if you couple the fact that there's so much room for growth
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and we saw what happened back in March and April of this year
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when there was the little banking crisis you couldn't get,
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I know the value of gold backs skyrocketed.
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I mean my local coin shop, you you online bullion dealers,
10:55
there wasn't of silver or gold available.
10:59
It was sold out or you had to wait a month to get it that that
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that as if this percolation continues to develop in the
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United States as people are realizing like these dollars are
11:09
becoming worth less that it could, it could lead to some
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very interesting market dynamics for silver and gold.
11:18
Right. Like you said with like Costco
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selling gold bars, we sell them gold backs on walmart.com.
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I mean they don't accept them yet, but I think the time will
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come because no one will want to take dollars.
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But the the influence is, is starting to penetrate out there.
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And like you said, I think the attitude is changing.
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People starting to look what what real value is, because
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there's so much. We're just, I mean, look at what
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America is. We're a marketing genius, I
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mean. We're distracted by everything.
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I mean, attention spans are like this nowadays.
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And I think people are getting worried.
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I mean, it's coming to the point where people are paying so much.
11:54
They see if the grocery stores, they see if they go buy a new
11:56
car. They they're seeing, Oh my heck
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this. Everything's getting so
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expensive. Where's true value here?
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So the the perception on gold and silver is changing.
12:06
And I think I, I tell everybody that I know because everybody
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comes to me because I oh, you've been the gold and silver guy for
12:12
so long and all you, you were right.
12:13
You're not dumb. And what I see, I'm trying to
12:17
set, I'm trying to explain to them, look, when the time comes,
12:20
it's going to be too late. It's musical chairs to extend
12:23
and that's why I double down and double down and double down.
12:25
It's not like I'm trying to dollar cost average on a smart
12:28
basis. Every time I get loose money,
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I'm going and buying because when the music runs out, I'll be
12:34
holding and I'll be fine everybody else.
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And that's what's going to this. This market is so is so
12:39
undervalued, especially the silver and platinum.
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When the time comes and the doors open and people start
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buying the the price is going to be outrageous.
12:47
I mean it is outrageous and and and and I think it's important
12:52
to recognize too, I like get your thoughts on this just how
12:56
delicate and sensitive these gold and silver markets are.
13:00
I mean, there's not a big margin of of of availability that can
13:06
absorb even really the slightest increase in demand and I don't
13:10
want to keep going back to it. But look at what happened back
13:13
in March and April. You couldn't get silver, you go
13:15
to your local coin shop. It was gone that there the the,
13:19
the markets are so delicate, so sensitive like you said, when
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the time comes, it's going to be gone in a flash, right.
13:26
I mean, we didn't really go through a major crisis back in
13:30
March and April, but it was gone.
13:33
And I just don't think that most people realize even what we have
13:38
now, there's not a huge supply. Let's, you know, just talk about
13:41
silver brief briefly. You're talking about a billion
13:44
oz being supplied from the mines and recycling every year.
13:48
That's $20 billion. That's nothing in the context of
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the amount of the size of markets.
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Compare that to the size of the gold market, compare that to the
13:56
size of the oil market or any market.
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I mean it doesn't take a lot in in for us to see potential for
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like really dramatic moves. And I'll, I'll, I'll, I'll
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finish this point with this. What we've seen in silver in
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particular and gold for that matter over the last, let's say
14:17
two years is an outflow in the West from investors from the the
14:23
big ETFs. Now there's debate as to whether
14:26
the gold and silver is really there anyway, but none the less
14:29
you know the the big, the two dominant, still dominant.
14:32
ETFSGLD and SLB have seen major outflows of money from the West.
14:37
If we start to see an inflow back in it, then it will, right.
14:41
I mean it doesn't. Those things go, they go through
14:43
phases. We start to see money coming
14:45
back into SLV and GLD and at the same time physical demand on the
14:51
investor side. The market just can't absorb it.
14:53
It just cannot absorb it. Right.
14:56
I mean, you look at the time it takes to to discover, to open a
15:01
mind, you're looking at years. I mean the the window there is
15:04
just not there to, like you say, to absorb that.
15:06
And I could see like the pandemonium at Walmart when
15:10
people are getting toilet paper, you'll see their coin shop.
15:13
People will be in their fist fighting to get their hands on
15:15
whatever they can. I mean that's that's the
15:18
craziness we're going to see because when the dollar and we
15:21
just keep spending and spending every time I see the president,
15:23
we're spending more given more we can't do that.
15:27
The time is so, yeah. When the time hits, it's going
15:32
to be, it's going to be scary actually.
15:35
I mean, I I I really foresee like the toilet paper issue,
15:39
which is silly. But that's what will happen
15:41
when, when the time comes, you make I'm laughing, I have a,
15:46
excuse me, a regular viewer, Richard Cooper from the United
15:49
Kingdom. He sent me a box with a nice
15:51
variety of things in it, one of which was an envelope that had
15:55
eighteen U.S. dollars in it. He said that was his leftover
15:58
from a trip he made to Las Vegas, and he called that Las
16:02
Vegas toilet paper. So.
16:05
We've got the Nevada gold back, so now we can.
16:10
People can grab onto that and say and it's not toilet paper.
16:13
No, no. Well, you know, and you and you
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brought up a great point. I think it's worth us touching
16:17
on as well when it comes to this supply dynamic situation within
16:24
both the gold and silver markets.
16:26
I talked to a lot of CE OS in the mining industry.
16:30
They all say the same thing. Over the last decade, the big
16:35
gold mining companies, the big silver mining companies in
16:38
particular, have not invested in exploration.
16:43
Their pipelines of new projects, their pipelines of available oz
16:48
that they can dig out of the ground are running dry because
16:52
over the last 10 years they were #1 because of the price
16:56
suppression that may be going on in the silver and gold markets.
17:00
But over that 10 year period, they were fighting for their
17:02
survival. Number one, in a difficult
17:05
precious metals price environment.
17:07
Whatever extra money they did have leftover, they were paying
17:11
off debt to shore up their balance sheets or there was this
17:15
new demand on the big companies to pay dividends.
17:18
So they were they were neglecting their pipeline
17:21
because of that. And now we're gonna in the next
17:23
two or three years gonna be at a point where they're just there's
17:27
just not a big pipeline of new projects especially in the
17:29
silver market. There's just not.
17:32
And like you said, if if let's just say just silver for
17:35
example, silver goes to 50 bucks an ounce a year from now, right.
17:40
It's not like there's a switch they can turn and say well now
17:43
we're going to produce twice as much silver.
17:45
No, it's like a 10 year process, five year, 10 year, 12 year
17:49
process to to to explore, to develop, to permit, to build all
17:55
that. Sure there'll be an an increased
17:59
emphasis on that, but it's not like they can just create more
18:02
gold or create more silver in an expeditious manner And there's a
18:07
lot of people who think we've already reached peak gold for
18:09
instance and and silver as well like they're the the, the the
18:13
easy, the low hanging fruit's been harvested.
18:16
You know now the grades for what they find are lower.
18:20
And it's just a it's overall just a when you couple what you
18:23
talked about with spending and debt, right, like math shows no
18:28
forgiveness on the altar of truth and you couple that with
18:34
supply constraints within the metals markets.
18:36
It's a it's an interesting kind of exciting proposition where
18:40
things may be heading first. Mining Gold is a development
18:44
company advancing 2 of the largest gold projects in Canada,
18:48
spring pole in Ontario and Duparque located in Quebec.
18:53
Each already has 5 million ounces of gold reserves, but
18:58
exploration initiatives are underway at both projects to
19:01
find even more gold. First, mining is well financed,
19:06
has zero debt and owns an interest in four additional
19:10
Canadian Gold development projects.
19:12
Well, when you look to it, environmental controls, I mean
19:14
they're really they're hampering down on on the progress that a a
19:18
mining company can make. I mean it takes so much to go
19:20
get open mind it's the red tape is, is is crazy to get these
19:24
things done. Not only that, but.
19:28
Like in silver, I've heard reports of 2030 to 2035 that we
19:33
might be out. I mean silver could be just as
19:37
it it value just as at at like what gold is.
19:40
I mean it's going to be that rare.
19:41
I mean it's going to come back into play and that's why I said
19:43
you know silver so undervalued somewhat platinum, but I think
19:46
the metals all in general are so undervalued it it's the time is
19:52
coming but. What people aren't really,
19:55
especially people like us who we pay attention, we understand
19:58
what's going on. A lot of these surpluses that
20:01
are being, they're being offloaded off these, off these
20:03
exchanges and no one really understands there's not much
20:07
left. So like you say, when the time
20:09
comes, they can't just turn a key on and produce more.
20:11
It's not going to happen. So that window, that's what will
20:15
cause the, you know, the craziest pandemonium, because
20:17
that window can't be filled. There's going to be a short time
20:19
where you can get your hands on it and that's it.
20:22
And you're going to have to wait for years because these things
20:24
just take up sometimes up to 10 to 15 years before they can even
20:28
get started, let alone the the couple years it takes for
20:32
exploration to even find it. So I agree with you and it's
20:36
it's scary. It's a sensitive market.
20:39
I don't think most people realize, you know, how delicate
20:42
and sensitive that market is and how, how, how, how, how huge
20:48
moves could happen in in the price.
20:52
Excuse me. Just because of a small increase
20:54
in demand, right. And I think you know listening
20:57
to Peter Schiff and and Jim Rickards and Mike Maloney and
21:00
all these other guys, you know, they've been saying for the last
21:02
five years, this is the biggest wealth transfer in the history
21:06
of the world is about to happen. I totally believe it.
21:10
I mean it's nothing I understand a lot of people, especially now
21:14
we have not a lot of extra cash laying around to go invest.
21:17
I mean gold is expensive. The gold bags are not.
21:20
This is the one of the cheapest entries into the gold market you
21:23
can get. I mean A1 gold bag is about
21:25
$4.50. Slowly stack these like you do
21:29
silver. I mean the to get in is just to
21:32
get your foot in the door because the time is now and then
21:36
it will be crazy expensive, I mean.
21:40
Yeah, the gold bags are very cool and just for the viewers
21:44
that are watching right now. But why?
21:47
And you'll do a better job explaining this than I do.
21:49
But the gold backs have real gold in them, correct?
21:53
Yes. This is not a this is not an IOU
21:56
for gold. The the gold is embedded into
21:58
the note. The gold is in your hands.
22:01
It's not an ETF like, you know, I would never buy because if you
22:04
don't own it, you don't own it. That's what's great about these.
22:08
The gold is in there and these are fungible.
22:10
They go from 1 gold back and people confuse it when they say
22:13
that's a $1.00 gold back, that's not a $1.00 gold back.
22:16
This is A1 gold back and it's worth about four 4 to 450.
22:21
It depends on the gold price, but I would rather have it in my
22:24
hands and be able to to use these kind of notes to to
22:28
purchase anything I need when the time comes, because just
22:32
like a most of these currencies, no one will want them.
22:35
You'll bring in a wheelbarrow full of them and you might get a
22:37
loaf of bread. Right, right.
22:39
I want to, I want to emphasize what, what?
22:41
What Abrams holding there in his hand is real gold.
22:45
And he's holding it in his hand. I liked how you said that that's
22:48
not an IOU in A1 gold back is is that A1 gold back?
22:53
Yeah, that's one one thousandth of an ounce of gold.
22:57
Yeah. And I and I want to point out as
22:58
well because I found this fascinating, that during the
23:00
manufacturing process, there's all kinds of checks and balances
23:04
from what I understand. One of which is they take a
23:07
sample, a random sample of the gold backs that were just
23:09
printed out and actually melt them down to confirm that that
23:13
exact level of gold is in each or so Abraham.
23:16
And it's A and I had it's a. It's a very complicated
23:19
scientific process where the gold is embedded into those
23:22
notes. But.
23:23
Again, when you're holding that in your hand, you are holding
23:27
real gold. Yes, this is probably the the
23:29
most secure currency you'll find.
23:32
All of our security measures, the the equipment it takes to
23:35
process these things is in the millions and millions and
23:39
millions of dollars to make these.
23:40
This is really high tech stuff here.
23:44
And I, and I might add, let me show you mine, who was sent to
23:47
me by my friend Adam out in New Hampshire.
23:50
I think this is one of the coolest things.
23:52
I mean, I really do. It's like a whole set of gold
23:55
backs from the South Dakota, and they're just what I want to say
24:02
as well. And I don't buy them for this
24:04
reason, but they're beautiful. They are really.
24:08
They are really beautiful to to, to look at and to hold.
24:14
And you know what's crazy Ron is when when they first started
24:16
this process to and then Utah was the the front runner and
24:20
then Nevada and New Hampshire and we've got Wyoming and South
24:23
Dakota. We're not having to advertise.
24:25
We do we spend practically nothing on advertisement and
24:28
this is word of mouth and we're selling like crazy and not only
24:32
that we're not having to go and and beg a state to to to
24:36
consider this. They're calling us saying we see
24:39
trouble. We see big trouble coming and
24:41
we'd like to have our state on board too, so.
24:43
Yeah, that if that tells you anything.
24:45
We're not, we're not using any money for marketing.
24:47
This is all done peer-to-peer, you know, people talking to each
24:50
other and the states are calling us to get these things done.
24:53
I mean it. It shows you that where where
24:56
money's headed. Yeah, yeah, yeah.
24:58
And there's definitely a growing movement of states here in the
25:04
United States that are passing legal tender legislation to
25:07
allow their citizens to. The keyword is Reclaim.
25:12
Their right to use silver and gold as real money because it's
25:16
in the Constitution. It's not anything new.
25:19
You know, the Founding Fathers put it in there for a reason.
25:22
Yeah, it's it's it's kind of silly to think that our dollars
25:26
that we're using now is unconstitutional.
25:29
This is constitutional money. And what's great about this,
25:32
Americans, we have a sense of, you know, privacy and freedoms.
25:37
The way they're trying to push this whole CBDC thing is, is
25:40
bonkers to me because everything will be tracked, everything will
25:43
be accounted for. This acts just like cash.
25:47
I can go spend it with Bob the Builder or Joe the Plumber.
25:50
And this is privacy spending. No one knows that I I paid him
25:54
in these and we don't track these things.
25:56
We have serial numbers on there to to verify that they're real.
25:58
But it's just like cash. We don't know where they're
26:01
going. And and I think Americans
26:03
appreciate that. Yes, we have to have you know
26:06
debit cards and and to that extent for high high frequency
26:09
or high dollar spending. I think to be honest I think
26:15
crypto that the crypto coins, I think all this is the biggest
26:18
scam in history. I think it's a diversion of you
26:20
know attention but I do believe that the blockchain could come
26:23
come into play. I think you've got great players
26:26
in that space like Kinesis who are coming in where you're
26:29
spending gold digitally. And I think that that's that's
26:32
the future of, you know, transactions.
26:35
You know, when you're spending on Walmart or wherever else.
26:37
But here at home, like you know, the state of Utah or the state
26:40
of Nevada or South Dakota, all the states we have and you
26:43
you're spending money locally, it stays locally and that's an
26:46
even better thing. So the the privacy element to to
26:51
to secure our money and know that we're not being watched I
26:54
think is what Americans are really catching on to these
26:57
things is we don't want a Big Brother looking over our
26:59
shoulder. They don't.
27:00
We don't want to be told what we can and can't spend our money
27:02
on. Yeah, yeah, I've said that I
27:05
made that point this morning again that you know people in
27:09
the silver and gold community, there's a large amount of fear
27:13
surrounding CBD CS and and I understand, right, But I I make
27:18
the argument that at the end of the day, I think that would
27:21
actually be positive for silver and gold because it would, it
27:26
would then make silver and gold one of the few remaining.
27:31
Areas of where where you could hold wealth in a private manner.
27:35
Everything else would be, you know, cash is gone.
27:38
What What are you gonna store your wealth in?
27:40
You know you gonna store 1000 barrels of oil in your backyard
27:44
or no, you know, I mean there's gonna be, it's gonna narrow the
27:48
options that people have for for maintaining any level of
27:52
financial privacy. Right.
27:55
And you know looking looking back in history when Nixon took
27:57
us off the gold standard, there's no way I don't think
28:01
there's a way you could you could go back into that
28:03
institution. You can't.
28:05
We'd have to value gold twenty $30,000 an ounce to go back to
28:09
that cycle. I mean it's just the the system
28:12
is broken and we can't reprint a new currency.
28:17
We can't make a new dollar. It's not going to make a
28:19
difference. And the CBDC thing is, is lunacy
28:22
to me. So I see the future of money
28:26
evolving into what we've got here in my hand.
28:28
It's the only way back, the only way back to to a a sound
28:32
platform to operate on. And if you have chaos, you don't
28:35
have a society. I think this is gonna society
28:38
because this is real money. Yeah, yeah.
28:41
And and and some form of digital gold, whether it be and you
28:47
know, I'm not a blockchain guru, but backed by the blockchain
28:50
digital gold, that is. Legitimately backed by, you know
28:56
whatever the token or however the whatever.
28:58
The correct is actually legitimately and transparently
29:04
backed by real metal could could fit that, fill that gap of of,
29:09
you know, needing to do transactions on an electronic
29:12
basis, right? I mean that they're but it, but
29:14
it's important. That it be trustworthy and
29:18
transparent and that people know that yes I can and that you can
29:22
and that you can redeem at any time as well.
29:25
And I know that's some of the propositions that are out there.
29:28
I know I think it's Zimbabwe's got something going on I know
29:31
Texas has a has had a proposition that's that's out
29:34
there that where you can where you can convert your token into
29:38
real metal. You're smiling.
29:43
Yes I I can't say much but things are coming in in a in a
29:47
man will the suffice commerce. I mean that's what I have such a
29:52
problem like the crypto coins. I mean, you can't make something
29:55
out of nothing. It's still nothing.
29:56
These crypto coins are. It's speculative.
29:58
Oh, come on. Come on, Abram.
30:00
You. I'm AI mean.
30:02
Hold on. Let me grab my Bitcoin here.
30:04
OK. There you go.
30:05
There I'm gonna hand it to you. There.
30:07
You got it. OK.
30:08
All right. I just gave you one of my
30:09
Bitcoin. It is what it is.
30:12
But I I know I haven't, I haven't put in a lot of effort.
30:14
I mean, I've scratched the surface a little bit and then,
30:16
you know, I don't know a lot about, there's so many companies
30:19
out, there's so many coins out there.
30:20
It's all garbage. But I do see, you know, I
30:23
haven't studied much into digital gold.
30:25
But like I said, there's one company I have investigated
30:28
which is Kinesis, that's making the right steps and doing it the
30:31
right way. And I think more will follow.
30:32
I think we'll have a different, a new Visa, a new MasterCard
30:35
will be these companies because no one will, no one will trust
30:39
the other systems. So yeah, digital gold that's
30:43
verified and and can be proven and then gold in your hands.
30:47
Gold is the future and I think digitally, and that's where
30:51
we're headed. Yeah, it's worked.
30:52
It's worked for a few thousand years.
30:54
And I I will add that there's a lot of smart people out there
30:57
that that believe in Bitcoin and that's great.
31:01
I don't have any problem with that and I'll also say that.
31:05
One benefit that I think a lot of of gold and silver
31:09
enthusiasts overlook, you know there's this real contention
31:13
between crypto and physical gold and silver people is that one
31:17
benefit that the crypto movement I guess you would say has has
31:22
has given to the world. And two, even maybe the silver
31:25
and gold stacking community is it has educated a lot of people
31:30
as to the challenges. Presented by the Fiat money
31:35
system. I mean, in a lot of ways, we do
31:37
share that same level of skepticism and distrust in the
31:43
in the in the Fiat money system. Yeah, these crypto people are
31:47
gold people. They just don't realize it yet.
31:50
That's right. That's right.
31:52
Well, Abraham, I want to say thank you for joining me today.
31:54
This has been a great conversation on behalf of
31:57
everyone who's watching. Thank you for your generosity
32:01
with your time and your information and also.
32:04
Over the last year or so, you've been generous with me with
32:07
sending some gold backs that I've been able to distribute
32:10
from time to time during my live stream.
32:12
So we owe you a big debt of gratitude and hopefully we can
32:17
look forward to seeing you again here in Ron's basement.
32:21
I appreciate it. Thanks, Ron.
32:22
And if everybody can go to goldback.com and check us out,
32:26
I'd appreciate it. And I look forward to our next
32:28
talk. I appreciate it, Ron.
32:30
Thanks Abram. Have a good day.