0:06

You've had a dynamic where money

0:09

has become freer than free. If

0:11

you talk about a Fed just gone

0:13

nuts, all the central banks going nuts.

0:15

So it's all acting like safe haven.

0:17

I believe that in a world

0:19

where central bankers are tripping over

0:21

themselves to devalue their currency, Bitcoin

0:24

wins. In the world of fiat

0:26

currencies, Bitcoin is the victor. I

0:28

mean, that's part of the bull case

0:30

for Bitcoin. If you're not paying

0:32

attention, you probably should be. Josh,

0:36

welcome to the show. As always

0:39

happens, we record like a

0:41

little pre-recording episode,

0:43

so I figure we should

0:45

hit record and jump into

0:47

it. Let's do it. Well, I think

0:49

you hopped on my radar

0:52

probably one or two months ago

0:54

now at this point. You were on

0:56

a plane giving a

0:58

first-person recount of what

1:00

you had just experienced

1:02

on a road trip in

1:05

Europe, particularly... doing some diligence

1:07

on what's happening on the gold

1:09

markets and obviously that has been

1:11

a big topic in some of

1:13

the more obscure areas of fin-twits

1:15

and financial Twitter and the people

1:17

covering finance really not getting much

1:19

tick in the mainstream but there's

1:21

something happening in the gold markets

1:23

and you're somebody who I've been

1:26

following for a few months now

1:28

and it seems like you have

1:30

a very good pulse. on what

1:32

is actually happening. A lot of

1:34

people have theories, but you were

1:36

again on the ground in Europe.

1:38

So I think starting there

1:40

with that road trip, what

1:42

you observe, what you're comfortable

1:45

disclosing about what you observed

1:47

and how you would describe

1:49

the mechanics of what's been

1:51

happening with this flow of gold

1:53

into the US. Yeah, so I've been

1:56

involved in the metal space for

1:58

20 something years now. So I

2:00

did corporate risk management for really huge

2:02

gold and silver and copper mining companies.

2:04

So worked at the C-sweet level, just

2:06

managing mega billion dollar companies and fell

2:08

in love with the metal space and

2:10

then started what's now. Scott still meant,

2:12

let's see, 16 and a half years

2:14

ago, roughly. So been in the space

2:16

a lot of times. So we now,

2:18

my company, manufacturers and produces legal tender

2:20

gold and silver coins for roughly 24

2:22

in government central banks. We do private

2:24

bank work, so some of the private

2:26

banks you walk into a bank branch,

2:28

let's say in Canada, and you want

2:30

to buy a silver bar. It's actually

2:32

made right here in Castro Wyoming. So

2:35

I do that and then supply hundreds

2:37

of wholesalers all around the world. So

2:39

I really see quite a bit of

2:41

things. And then we also have a

2:43

new vaulting operation that's at an institutional

2:45

level grade here in Wyoming. And so

2:47

I see a lot. of stuff and

2:49

we're actually we're going to have a

2:51

armed one of the arm the largest

2:53

independent arm companies can be leasing space

2:55

for me in my building just to

2:57

service my my customers this is kind

2:59

of like you know casper Wyoming is

3:01

a little bit like kind of building

3:03

a hotel and there'll nowhere and suddenly

3:05

Avis wants to put in a realm

3:07

car agency there which is which is

3:09

wonderful so we're we are moving a

3:11

lot of physical gold in and out

3:13

of the US We work with a

3:15

lot of the refineries, we're doing the

3:17

finished product, so we see it all.

3:19

So I know the transport guys, and

3:21

I think you're right, I was flying

3:23

back, I think it was February 2nd,

3:25

I think I had my ex account

3:27

for two weeks at that point. So,

3:29

even though I've been in the space

3:31

a long time, never really vocalized much,

3:33

and I actually had someone that was

3:35

listening to me talk about what I

3:37

was seeing in the market, and they

3:40

go, can you put that on camera?

3:42

I was like, why don't I just

3:44

share what I'm seeing? I think, I

3:46

don't know if I was the first

3:48

person to talk about the insane amount

3:50

of gold shipping over, but I think

3:52

I might have been one of the

3:54

first to break it, at least on

3:56

a large level. And there was one

3:58

of the weekends, I think it was

4:00

more. We had more than 5 million

4:02

views between a number of channels. So yeah,

4:04

I think it was quite an interesting

4:06

time to see what was going on.

4:08

And yeah, you're right, I was meeting

4:11

with some governments and some

4:13

big refineries, some banks, some

4:15

banks, old sailors, and unlike this

4:17

amount of gold, no one on their

4:20

own can move this amount. And it

4:22

just, it was, it was mind-boggling. And

4:24

as you heard, you heard about

4:26

that. that process of material flying, you

4:28

know, and it was happening, you know,

4:31

before Christmas. And so, you know,

4:33

and I'm just listing and it's

4:35

coming from multiple carriers and I'm

4:37

like, this is, this is really big. And

4:39

so what is going on? And I think

4:41

it kind of goes back to a couple

4:44

years ago, started with the Ukraine

4:46

war, what the BRICS nations are

4:48

doing and there's been a very, very

4:51

kind of covert. movement of physical metal

4:53

really primarily to China is what's been

4:55

happening for a while and now to

4:57

see it come to the United States

5:00

it was like wait a minute this

5:02

is this is pretty big this is pretty

5:04

big and you know at that level two

5:06

because it's disrupting the marketplace

5:08

so when you disrupt the

5:11

commodity market you disrupt the

5:13

Bank of England which is the

5:15

settlement that's where after World War

5:17

II a lot of the war debts

5:19

were settled. A lot of people don't

5:21

realize gold is still used. It's pledged

5:23

for with the World Bank. It's pledged

5:25

for like when you're, you know, the

5:28

World Bank is giving loans to countries.

5:30

That's all being done with gold

5:32

backing. And so all this gold was

5:34

there and suddenly it's all moving

5:37

around and you're disrupting their delays,

5:39

their, they're feeling if you're

5:41

a private investor, as I just wrapped

5:43

my head around all this, I'm like. You

5:45

can't do that so the Hung brothers try to

5:48

do it silver in 1980 and then George Soros

5:50

in the early 90s And then Warren Buffett in

5:52

the late 90s and every time those guys got

5:54

a knock on the door Right and they had a

5:56

liquidate and actually Warren Buffett's the

5:58

last one turned it the silver ETF.

6:00

And so when you do this at

6:03

the level of gold, who is, who's,

6:05

how is allowed to do this? And

6:07

to me, it feels truly like it's

6:10

the US government. And so to give

6:12

everybody a perspective of how this physical

6:14

bullying market typically works, the big players

6:17

that have popped in to the scene

6:19

or at least my observation of the

6:21

scene, you have three that met. people

6:23

are mainly talking about. The LBMA, the

6:26

Bank of England, and then Comex over

6:28

here in the United States, and there's

6:30

sort of this interplay between the three

6:33

that is setting off alarm bells. And

6:35

so how do they interact with each

6:37

other or at all? Yeah, so London

6:40

has literally been, you know, since World

6:42

War II, the kind of the head

6:44

course for gold throughout the world throughout

6:47

the world. when central banks are buying

6:49

and selling gold, a lot of it

6:51

is settled and held at the Bank

6:53

of England. And the London Bullying Market

6:56

Association is just kind of a standard.

6:58

Think of that, that's a little bit,

7:00

that's more institutional level, right? You're more

7:03

banks, refineries, are delivering in and out.

7:05

And then they, in the US market,

7:07

it's the Comax. And so, you know,

7:10

oftentimes, people don't realize this that, but

7:12

gold and silver is transported. over continents

7:14

to take tiny arps back and forth.

7:17

So oftentimes banks will go short a

7:19

futures contract right in the US and

7:21

they'll if there's an arbitrage to be

7:23

had and then they buy the physical

7:26

metal somewhere in the world whether that's

7:28

London, Korea, somewhere else and that that

7:30

metal comes in they deliver in and

7:33

they take a small spread. Well when

7:35

those spreads suddenly went to like what

7:37

I call epic like all the Boolean

7:40

banks are making. Huge huge money unless

7:42

they're caught on the wrong side of

7:44

another trade or something But on that

7:47

EFP that exchange for physical premium you

7:49

don't see that I say the only

7:51

time I've seen that in In my

7:53

20 plus years was COVID and that

7:56

was when the refineries in Switzerland all

7:58

shut down mine shut down the world

8:00

So there was huge shortages of gold

8:03

and silver So the bank basically said

8:05

hey if you want to exchange your

8:07

paper contract for the real thing you

8:10

got to pay up and instead of

8:12

paying maybe pennies per ounce And I

8:14

think we've seen this EFP over the

8:17

last three months has been averaging 30

8:19

cents to a dollar 15 on silver

8:21

and gold has been averaging 15 dollars

8:23

to maybe as much as maybe $65

8:26

an ounce. So we're talking huge money.

8:28

So all these banks have to do

8:30

is find the metal. And they short

8:33

the market on the Comex and they

8:35

deliver it in. And that's, and so

8:37

that, that movement was originally being thought

8:40

that it was just maybe a tariff

8:42

risk, right? So is Trump going to

8:44

tariff gold and silver? That was kind

8:47

of what we were thinking back in

8:49

December. And then. when I'm literally getting

8:51

back on February 2nd, I'm like, this

8:53

can't be. This has got to be

8:56

something bigger than this. So, and I

8:58

think we're starting to see that, you

9:00

know, we haven't really had, you know,

9:03

terrorists haven't really come into play in

9:05

terms of what's going to happen, you

9:07

know, Mexico and Canada got essentially on

9:10

most products, got another 30, you know,

9:12

multiple extensions. So we don't really know,

9:14

but yet the EFP still exists exists.

9:17

It's still higher. you know, even today,

9:19

you know, it's still above average. So

9:21

something, something really is big. So all

9:23

these institutions are, are they moving metal

9:26

and oftentimes most of stuff sits there.

9:28

So there's always been concern of like,

9:30

has it been leased out? Has it

9:33

been, you know, because banks, banks do

9:35

like to utilize and governments, they lease

9:37

their gold out. And so why do

9:40

they do that? So at a very

9:42

sophisticated level, you can lease it out,

9:44

you know, with someone with large credit,

9:47

and you can earn a small yield

9:49

a small yield by. So this is

9:51

where, this is what the bankster, JP

9:53

Morgan is the largest holder of silvers

9:56

in the world, and then they have

9:58

their own gold and silver vaults. literally

10:00

next door to the Fed in New York.

10:02

So it's a very interesting business

10:05

of our physical malle really kind of

10:07

makes the world work. I feel like

10:09

we've been slow walked into the idea

10:12

that, you know, I don't think we're

10:14

educated in the school system. That gold

10:16

is still part of our society, even

10:19

though we're not gold backed the way

10:21

we used to be. And nurture Nixon

10:23

just over 50 years ago cut us

10:25

off. But it is still the

10:28

underpinning the underpinning. of central banks.

10:30

It's the only thing on their central bank

10:32

balance sheets is gold outside of their own

10:34

fiat currency. So I know people are talking

10:36

about, you know, how Bitcoin's going to come

10:38

into play, but as of right now, right,

10:41

it's governments that are talking about it. And

10:43

even Michael Saylor is really kind of focused

10:45

on the US government. Well, does the US

10:47

government really control the Federal Reserve? And I

10:49

think we kind of got our answer. Powell

10:52

said Trump can't fire me, right? And so

10:54

what does that mean? They're a private bank.

10:56

They're a private bank. They're a private

10:58

bank. And a lot of people don't

11:00

realize the U.S. Fed, they pretty much

11:03

are they manage all the other central

11:05

banks, or the majority of

11:07

them, around the world. So they're

11:09

all inter, this is bank for

11:12

international settlements. This is these, these,

11:14

and I'd say at a high level,

11:16

if you watch Game of Thrones, and

11:18

you know, you watch the Kings and

11:21

Queens, and who's running the show, but

11:23

then they have to go to the Iron

11:25

Bank. And when they have to go

11:27

the Iron Bank, right? And this is

11:29

this is this has been going on

11:32

and it's really based off of you

11:34

know some famous names that you've heard

11:36

about right the Rothschilds have financed they

11:38

going back to the Napoleon. So it's

11:41

it's quite it's quite interesting to see

11:43

it now kind of coming into the

11:45

forefront and then you know you had

11:47

Elon Musk out of nowhere tweet or

11:50

posted on X. Hey surely the US

11:52

goal that Fort Knox is audited every

11:54

year right. And that kind of kicked

11:56

off a whole other thing going, well,

11:59

does the US? have its gold or

12:01

not? Is that maybe why the gold's

12:03

coming into the US? And, you know,

12:05

are they, because you know, we're auditing

12:07

everything, right? So USA, right, everything within

12:09

government's being audited. So is it possible

12:11

that they already knew, maybe from Trump's

12:13

first term, that maybe some of the

12:15

gold had been rehypedicated, leased out, sent

12:17

somewhere else. And, you know, what do

12:19

they say about property? Was it nine

12:21

tenths of the law? Is fiscal ownership?

12:24

So if there dual counting, they're repatriating.

12:26

So they're saying, hey, I want all

12:28

these assets in my jurisdiction. So we're

12:30

starting to see. So China has been

12:32

saying, I want it in my jurisdiction.

12:34

If we go back in time, Venezuela

12:36

said, we want our goal back, Bank

12:38

of England, and they said, nope, then

12:40

it's being held there. I think it's

12:42

somewhere in the world, little courts. Germany

12:44

took, I think, eight years to get

12:46

their gold out of England. So this

12:49

is one of the things like, you

12:51

know, you know, it feels better when

12:53

it just is here, when it just

12:55

is, it just is, is, it just

12:57

is, is, is, is, is, is, is,

12:59

is, is, is, is, is, is, is,

13:01

conflicts and I would say we're entering

13:03

the zone I realize Trump's trying to

13:05

create some peace here but maybe it

13:07

doesn't. Oftentimes gold is always the over

13:09

it's it's it moves in advance of

13:11

war and if not like the French

13:14

had to do you know if you

13:16

want a fun story read about how

13:18

the French moved the gold out in

13:20

the middle of the night on the

13:22

ships you know to get it out

13:24

before before the Germans were coming in.

13:26

So you know history I don't like

13:28

the... I don't like to say history

13:30

often, it doesn't repeat but often rhymes,

13:32

but it kind of does. So we're,

13:34

most of us have never lived through

13:36

anything like this. There's some sort of,

13:39

you know, the system's broken, that we're

13:41

currently in, this, you know, Keynesian experiment

13:43

is probably a good term, right? And

13:45

this is, I would say, the rise

13:47

of both Bitcoin. over the last number

13:49

of years, you know, was really rooted

13:51

in a lot of these these structural

13:53

problems in finance and the distrust of

13:55

politicians that just distrust of government. And

13:57

here we are kind of, you know,

13:59

obviously, and now, you know, Bitcoin has

14:01

more. into a number of reasons of

14:03

why to own it. Now it's, you

14:06

know, it's digital gold. So, but you're

14:08

still seeing physical gold. It's not, it's

14:10

really not going away. And you and

14:12

I were talking the other day, I'm

14:14

not Peter Chef. So I'm, you know,

14:16

Peter Chef loves to hate on Bitcoin.

14:18

And I am one that says I

14:20

will embrace things that do well. So

14:22

yes, I'm a very much a classical

14:24

assets. That's what's in my business. But

14:26

I've owned Bitcoin longer than Michael Sailor

14:28

As. I've been holding it on some

14:31

of the balance sheets of my private

14:33

companies, like a treasury asset for longer

14:35

than Michael Sailor As. I just don't

14:37

do the debt thing that he does.

14:39

But I'm a big fan of have

14:41

abundance. you know, off the, obviously, you

14:43

know, the term Maxie, you know, you're

14:45

either in the club or you're out

14:47

of the club. I can embrace all

14:49

those guys. And in fact, a lot

14:51

of my, you know, through the years,

14:53

Scottsdale Mint, a lot of my larger

14:56

customers have become friends, have been original

14:58

O.G. Bitcoin guys from, I'm talking, you

15:00

know, dollar, dollar, dollar up. I've got

15:02

a lot of people that then, then

15:04

rotated, then rotated. And they sacrificed for.

15:06

Clipping a little bit off the table

15:08

and they go into physical gold and

15:10

silver so they may not tell the

15:12

public that But that's what I see

15:14

and this is at the highest levels.

15:16

This is what the family offices do

15:18

and You know, I don't think we

15:21

need the animosity between you know the

15:23

let's say you know Bitcoin or gold

15:25

I mean Michael Saylor's always trying to

15:27

attack it and I mean I understand

15:29

he's trying to attack the economic energy,

15:31

but let's think for a minute how

15:33

much capital is just in Fiat Right?

15:35

All the derivatives and it's just, it's

15:37

just fluff and the government could just

15:39

print all the money at once and

15:41

buy anything at once, right? That's, that's

15:43

how worse. Why do we have to

15:46

sell gold to buy Bitcoin, right? You

15:48

could own both. Be, be, dominate both.

15:50

And I realize he's, you know, the

15:52

play is you're going to bankrupt everyone

15:54

else that's buying gold and I kind

15:56

of chuckle with this because it's like,

15:58

it's, it's not the government. The U.S.S.

16:00

government doesn't have their own choice

16:03

in this, right? It's all the

16:05

central banks. They're pretty much running

16:07

it. And they're going to have

16:09

to go to a new system. So

16:11

they're, whether it's the Chinese system

16:14

or the U.S. system, the world

16:16

economic forum system, you know, will

16:18

we own nothing and be happy?

16:21

You know, there's so many different

16:23

directions and they're all fighting for

16:25

control. So this is going to be

16:27

a wild decade ahead for sure. or

16:30

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queue. It's a beautiful thing. And

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we love our gold bugs here

18:06

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18:08

philosophically aligned and all marching towards

18:10

a world that stands on sound

18:13

money ideally and whether I think

18:15

the philosophy behind gold is sound

18:17

money and Bitcoin is very aligned.

18:19

And I agree, there's so much

18:21

theot built up in this debt-based

18:23

system that it's going to need

18:25

to flow. into both assets and

18:27

likely will over time I think

18:30

Bitcoin has its advantages to gold

18:32

but I think it would be

18:34

naive to think that there there

18:36

won't be a flow into an

18:38

asset that has been hard money

18:40

for for millennia but on this

18:42

point like that's that's why I

18:45

wanted to have you on is

18:47

like what are your thoughts and

18:49

what exactly is happening you mentioned

18:51

tariffs or there was a theory

18:53

that people were repatriating gold in

18:55

preparation for tariffs I've seen you

18:57

and many others talk about Basil

18:59

Three, gold being labeled as a

19:02

tier one asset on bank balance

19:04

sheets going live later this summer.

19:06

Some people have been surmising that

19:08

maybe it's being repatriated into the

19:10

US banking system to be used

19:12

as that asset. We recognize that

19:14

type of asset. And then the

19:17

other one is there is a

19:19

recognition that the US dollar as

19:21

the global reserves currency may be

19:23

on its way out and there's

19:25

this huge reshuffling of the board

19:27

and people preparing for a transition

19:29

to whatever the next reserve System

19:31

maybe maybe it's a reversion to

19:34

a gold reserve system a sort

19:36

of transition to a Bitcoin standard

19:38

at some point in the future

19:40

but like that the this agree

19:42

with what you said this amount

19:44

of gold moving this quickly across

19:46

the world is something that I

19:49

haven't seen in my lifetime. outside

19:51

of COVID, but COVID was a

19:53

very, was obviously a very unique

19:55

situation in terms of the, you

19:57

had this pandemic, in quotes, and

19:59

the global economy shut down and

20:01

that was, that was a very

20:03

volatile system, geopolitically, socially. This time,

20:06

around with all this gold moving

20:08

is not a very similar situation.

20:10

It's relatively calm, it's not relatively

20:12

calm, relatively being. the most important

20:14

world word there but it's not

20:16

a COVID like situation so like

20:18

the impetus for all this gold

20:20

moving is leaves a lot of

20:23

questions like what is happening. Yeah

20:25

so I'm not going to pretend

20:27

that I know the exact answer

20:29

I'm very much like what are

20:31

the clues Right? And I put

20:33

it, I pin everything on a

20:35

board and I move it, I

20:38

move it around and if something

20:40

proves false, I take it off.

20:42

That's, that's me. I'm not going

20:44

to hold a losing position on

20:46

something. So I'm going to move

20:48

it around. I would say it

20:50

possibly could be a little bit

20:52

of everything. I think, you know,

20:55

the tariff play, EFP risk, look,

20:57

banks are in the business of

20:59

making money and not taking risk

21:01

or taking as little risk as

21:03

possible. So if they were in

21:05

a little risk as possible. or

21:07

even moving gold isn't done in

21:10

one day, you gotta schedule the

21:12

flights and all that. So, you

21:14

know, it makes sense that they

21:16

would, you know, try to reduce

21:18

some of that position, move more

21:20

material into the United States in

21:22

the advanced air. So that completely

21:24

makes sense. And there's a lot

21:27

of money to be made. Like,

21:29

these guys have been killing it

21:31

the last number of months. There's

21:33

no doubt. So, but it just,

21:35

it keeps going and going to

21:37

go on. You're like, that's where

21:39

the headscatchercher component. You know if

21:42

you put if you if we

21:44

asked a hundred people does US

21:46

does four knocks have all of

21:48

its gold? Right. I feel like

21:50

a lot and I don't know

21:52

what percentage but a lot is

21:54

probably going to be like I

21:56

don't think it's there. My personal

21:59

take is. I think it's there

22:01

now. So it's quite possible that some

22:03

of this, you know, especially

22:05

if we start thinking about how

22:07

it's looking like what Elon is

22:10

exposing, is we've been looted, like

22:12

for quite some time. He's looking

22:14

at the fresh stuff, right? I

22:16

think we go back, the

22:18

United States has probably been

22:20

looted to some degree through both

22:23

sides of the aisle for quite some

22:25

time. So is it possible that some

22:27

of this gold was sent out?

22:29

Was it loaned out? Who knows? I mean, especially

22:32

if someone's like, oh, we don't need

22:34

it. No one's auditing it. It's not

22:36

been audited in 50 years. You know,

22:39

they did, you know, a quick show and tell

22:41

in the one room, you know, what, in like

22:43

30 years ago or something. It's just,

22:45

so it's quite possible that, you

22:47

know, Trump is back. Is it possible

22:49

that, you know, under his, you know,

22:52

called the new team, the moment he

22:54

won? He started working with some of

22:56

the banks. And so a lot

22:58

of it's going into the convex, but a

23:01

lot of it's not. But a lot of

23:03

that's going to the convex is it's someone

23:05

is standing there for delivery. And they haven't

23:07

taken it out. So there's a big difference

23:10

between like what's in there and what can

23:12

actually be pulled out. And so there's someone

23:14

behind this. And that's where I say it's

23:16

got to me. I feel like it asked me someone

23:18

so big. So maybe all the gold, you know,

23:20

some of it as either moved back in, either

23:22

move back in a move back in a four or four

23:25

or four knocks. Trump does not like to

23:27

look bad. It's aplcane and either

23:29

does he want and he won

23:31

comes off as so hoh-hoh-huh right

23:33

that's that's his stick it's like

23:35

Warren Buffett drinking a Coke and eating

23:37

candy he makes you feel like he's just

23:39

like one of us but these guys are

23:41

on a whole other plane right how they

23:44

how they work so I think when Trump says we're

23:46

gonna go look at it why a better

23:48

hope it's there like I feel like

23:50

that kind of uncertainty like You know if

23:52

you knew you had something wrong in your house

23:54

that you could fix before telling your wife before

23:56

you got home like it's the bathroom was flooded

23:58

if you could clean it. up where she

24:00

gets home honey and then you say

24:03

honey there was a problem but don't

24:05

worry I got it all mopped up

24:07

it's cleaned our bathroom's good as opposed

24:09

would you're out here walk in and

24:12

it's all flooded and or the flooring's

24:14

a mess no so it feels like

24:16

to me that the perhaps or was

24:18

a problem and they've already corrected it

24:20

that and then and then that leads

24:23

into the whole you know trunks talking

24:25

about a golden age and then I

24:27

know he's just he's talking He loves

24:29

gold. I think we can go back

24:32

decades. He's, go stay at a Trump

24:34

hotel, any of them, right? The gold

24:36

ordained, gold gilded, it's everywhere, right? The

24:38

artwork, it's there, that's what he loves.

24:41

So it's no shock. I mean, it

24:43

even sat down at the, you know,

24:45

the crypto summit the other day, right?

24:47

He's wearing a gold tie. There's a

24:49

gold trophy in the middle of the

24:52

World Cup. I mean, and then he

24:54

says it's a golden age. It feels

24:56

like to me, it's a golden age.

24:58

It feels like to me, it's a,

25:01

it's a golden age. It feels like,

25:03

it, it's a, it's a, it's a,

25:05

it's a, it's a, it's a, it's

25:07

a, it's a, it's a, it's a,

25:09

it's a, it's a, it's a, it's

25:12

a, it's a, it's a, it's a,

25:14

it's a, a, the word gold, like

25:16

it's very memetic, right? It's, it's, it's,

25:18

it becomes a meme, and here we

25:21

are, and, you know, maybe we're not

25:23

going to have a gold standard, but

25:25

maybe they're going to, maybe they're going

25:27

to, maybe they're going to do, like

25:29

a gold bond, you know, a gold

25:32

issue bond, maybe that maybe there's going

25:34

to put gold on the sovereign, right?

25:36

And then maybe Bitcoin's on there. X

25:38

account, he was warning shots on on

25:41

X to BRICS to not create a

25:43

competing currency to the dollar and don't

25:45

back it. I didn't say with what,

25:47

but I'll let you figure out what

25:50

it is. I mean, anyone that study

25:52

gold movement knows it's gold. And absolutely

25:54

the BRICS countries are raging. And we've

25:56

seen, if I go back over the

25:58

last couple years, the the Shanghai, the

26:01

EFP for Shanghai has been higher, which

26:03

means they're incentivizing people to move metal.

26:05

over to China. So, you know, Is

26:07

it possible, you know, sometimes the best

26:10

offense is a good defense and he's

26:12

just trying to shore up a lot

26:14

of things, especially, you know, I'm in,

26:16

I'm in the camp, we're gonna have

26:18

some hard economic times ahead over the

26:21

next number of years, like this. And

26:23

then the Elon even says, if you

26:25

go back in time, right, be pre-political,

26:27

right? He was talking about universal basic

26:30

income, or maybe even universal basic needs.

26:32

So what does that world look like

26:34

like at some point? And so he's.

26:36

you know, probably, you know, I don't

26:38

know, what do you think the percentage

26:41

we're going to, we're going to have

26:43

in the federal government between last year

26:45

and maybe at the end of this

26:47

term. We're 90% cut, perhaps. I mean,

26:50

you could kind of see how like

26:52

the world, the world is changing so

26:54

rapidly, and then there's the AI movement,

26:56

like if you don't have energy, you

26:59

can't run, perhaps, Bitcoin mining, you can't

27:01

really... It is so energy is so

27:03

critical. So you look at what they're

27:05

doing with nuclear now, they're turning the

27:07

coal plants back on, let's go. Let's

27:10

because if you don't have the energy

27:12

and the power and you let someone

27:14

else, whether it's Bitcoin or it's gold,

27:16

right, whoever owns the most of anything

27:19

controls that market. So that's kind of

27:21

what what when I'm sensing here is

27:23

just there's a lot of changes up

27:25

ahead. They call it the great reset,

27:27

you know, out of Davos, right. Kwa

27:30

Schwab, that's not really the best world.

27:32

And then, you know, they basically they

27:34

kind of installed the next Canadian guy.

27:36

You know, it's the same, it's the

27:39

same deal. I mean, literally, Justin Trudeau,

27:41

Schwab was at a conference years ago

27:43

and says, he is one of ours,

27:45

we installed him. You know, so there's

27:48

this, there's a high level battle. you

27:50

know at the finance level you know

27:52

the great reset level and look at

27:54

the end does the little guy and

27:56

little guy means just the common you

27:59

know we neophytalism is is is rearing

28:01

its head and you know what does

28:03

this all look like I I don't

28:05

know I just again it's it's kind

28:08

of wild to watch it in and

28:10

you know just even going back and

28:12

watching what we dealt with already this

28:14

decade so with COVID and then more

28:16

importantly the reaction of what governments did

28:19

yeah and completely I said this on

28:21

another show two weeks ago to think

28:23

that they're gonna go into Fort Knox

28:25

open the doors there they're gonna open

28:28

it They're going to be blinded by

28:30

the light shimmering off the bullion bars

28:32

and Trump's going to be like, oh,

28:34

we actually have more than we thought

28:36

to think they would ever publicly, publicly

28:39

signal to the global market, particularly today

28:41

that the US is in a position

28:43

of weakness, is completely naive. Like if

28:45

they do, who knows, maybe they don't,

28:48

but if they do go into Fort

28:50

Knox, I'm pretty certain that the gold's

28:52

going to be there. that there was

28:54

maybe some missing, but we got it

28:57

all back. I mean, that kind of,

28:59

I could see something like that because

29:01

obviously the date of the bars are

29:03

going to be there and one of

29:05

the guys on my team a number

29:08

of years ago, it was more than

29:10

a decade ago, quoted the US government

29:12

to refine the gold in four knocks.

29:14

And at the time, because the grade

29:17

is a little lower. So the industry

29:19

standard, you know, in theory today is

29:21

closer to a four nine period. There's

29:23

some stuff that's like... you know, below

29:25

that. And so it's not necessary. So

29:28

all these exchanges around the world, they

29:30

have different specs. And so sometimes that

29:32

goal's not interchangeable with each other. But

29:34

that doesn't mean, you know, at the

29:37

other day, even if you're, even if

29:39

you're a percent lower, the goal is

29:41

still there. So you just, you melt

29:43

it down, you purify it to whatever,

29:45

you pour it into the size, whatever

29:48

you want. So that's why I kind

29:50

of feel like it's been there. And

29:52

to your point, you know, he's an

29:54

art of war guy. This is how

29:57

he negotiates everything, right? And then he

29:59

in even. you know art of war

30:01

is like you don't trap your opponent

30:03

you give them a bridge to go

30:05

across that you want them to go

30:08

across right and that's what he's trying

30:10

to do with tariffs he's trying to

30:12

do this with with the Ukraine situation

30:14

and and I still think yeah

30:17

why would he want to look weak

30:19

on on this why bring this up

30:21

literally what a few weeks into his

30:23

his term like I don't know the goals

30:25

there oops that's just maybe not

30:27

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30:30

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slash TFTC. That's

30:59

unchained.com/TFTC, March 17th, be

31:01

there. And I think you alluded

31:03

to it earlier, but there's been

31:06

this long-running theory in many

31:08

gold circles that the

31:10

price of gold has been

31:12

suppressed by paper markets and

31:14

to initially unleash the true

31:17

price of gold. You need to

31:19

call it physically and really call

31:22

bullshit on the people running

31:24

these paper markets. You see,

31:26

do you... Have you subscribed

31:28

to subscribe to that theory?

31:30

Number one, number two, if so,

31:32

does a situation like this potentially

31:35

lead to a situation where we

31:37

get a reprice of gold to

31:39

where these people would argue it

31:41

should be? So I'm going to go

31:43

with facts. Just a couple years

31:46

ago, JP Morgan was fined, I

31:48

believe it was $900 million

31:50

for suppressing the precious

31:52

metals market. Right, so

31:54

where they just spoofing

31:56

it for their own book, right?

31:59

Perhaps. So big big banks

32:01

have been involved in manipulating the markets

32:03

and they've been they've been fined by

32:05

the government. So if we go back

32:07

even further and I am trying to

32:09

remember when it was some of these

32:11

same groups were also sued and they

32:13

went to court and the judge ruled

32:15

that because they were acting on behalf

32:17

of a sovereign nation that you cannot

32:20

sue they dismissed the court case. So

32:22

I think. I take the facts and

32:24

I think this was back when I'm

32:26

trying to think the company, you know

32:28

what I'm not going to name it,

32:30

but some of these companies were taking

32:32

the opposite side of hedges. So if

32:34

I go back in time when gold

32:36

was like 2-300, very often the gold

32:38

mining companies would hedge because they didn't

32:41

want to see it drop closer to

32:43

200 if we were at 250. So

32:45

they would hedge their production. Well, some

32:47

of these trading houses were the ones

32:49

taking the other side. Right. And so

32:51

they were they were taking the other

32:53

side and basically when that price went

32:55

down, right? Guess what happened to the

32:57

asset? It was repowed. And so that

32:59

bank took over those gold mines, right?

33:02

And they now get they get now

33:04

get the gold. And so I think

33:06

this is what kind of concerns me

33:08

like a micro strategy. I realize he

33:10

says he could go down on anything

33:12

and I'm fine. But you know what

33:14

man, like if you do believe Bitcoin's

33:16

going to go somewhere once you like

33:18

to try to try to control. One

33:20

of the biggest players that there is

33:22

so this is where like banks often

33:25

manipulate governments may but that's the thing

33:27

there's people bigger than than than the

33:29

private banks right this is the governments

33:31

can do whatever they really want to

33:33

do right there's there's court of law

33:35

and all these things but You know

33:37

just history proves this stuff. So Yeah,

33:39

I would say it's real. I'm not

33:41

one to say like like you can't

33:43

you can manipulate on a short term

33:46

you can kind of cap it you

33:48

know but but but long-term price is

33:50

going price is going to find its

33:52

own especially if now people are competing

33:54

for it I think that's what we're

33:56

seeing with gold when you have other

33:58

nations that might not be playing the

34:00

cap game right there they're acquiring the

34:02

real metal so gold you know gold is

34:04

this has been you know it's really gone

34:06

up and this has not been retail at

34:09

all and so my company does works with

34:11

a lot of retail and it's been quiet

34:13

for the last 16 months or so and

34:15

it's just now starting to activate again but

34:17

you know so this is pretty much

34:19

a central bank move so yeah this is

34:21

kind of an interesting time to watch

34:23

between you know what's what's going on

34:25

with with the cap and you could also

34:27

say that the ETFs, and I would say

34:30

this is a paper product, right? Is that

34:32

a diversion from the physical? And I'm going

34:34

to allude to what I think could

34:36

even be happening with Bitcoin, right? Is,

34:38

is, can you short the futures market?

34:40

Yep, you sure can. And so Gold,

34:43

the moment we had ETFs and all

34:45

these other things involved, right? It seemed

34:47

like Gold and Silver had a hard

34:49

time getting out of the gate. It kind

34:51

of feels like we're seeing this almost

34:53

like who in the heck is selling Bitcoin.

34:55

If Saylor is buying all this non-stop, like

34:58

why is it going down to the way

35:00

it is? So I think the tough thing

35:02

is with the futures market, you know, I

35:04

would say the possibility of

35:06

entities doing, let's say, capping games or

35:08

manipulation games or and we see we

35:11

see us in the crypto market where

35:13

the leverage gets really high and they

35:15

just cut the legs out, right? And

35:17

you have these flash crashes and they

35:20

gobble it all back up, right? And

35:22

then the price goes right back up.

35:24

So, you know. Is that manipulation?

35:26

Probably, but is that's just, that's

35:28

the game we're in. So, you know, I

35:30

would say to me, if Bitcoin was back

35:32

where only people held the

35:35

physical, the physical, meaning self-custity,

35:37

it's not on someone else's balance sheet,

35:39

right? It's on the blockchain. I think,

35:42

firstly, I think, Bitcoin would be higher.

35:44

I realize there's a lot of capital

35:46

that's come in through the ETS, I've

35:49

come in through micro strategy due

35:51

to regulation, and whatnot, but... You know,

35:53

I think it's almost, it's almost,

35:55

you know, it's the same thing with precious metals.

35:57

So much has gone into the physics.

35:59

but it's a paper product and

36:02

if you read it, they could

36:04

have derivatives, right? It could be,

36:06

you know, I'm not here to

36:08

poke holes in anyone's product, but

36:10

these are some of the banks

36:12

that have been involved in various

36:15

activities in the past. So I

36:17

think it does lead you to

36:19

believe it's possible. Yeah. Totally. In

36:21

the area, anybody out there listening,

36:23

get your Bitcoin off the exchange,

36:25

make sure you do it right,

36:28

make sure you understand how to

36:30

properly secure your Bitcoin, maybe get

36:32

a cold cart or something like

36:34

that, a hardware wallet to do

36:36

it. But I completely agree. I

36:38

think that's one thing that does

36:41

play to Bitcoin's benefit is still

36:43

to the state, like the way

36:45

that's Toshi launched the protocol, you

36:47

distributed a bunch of the supply

36:49

in the early years at a

36:51

point in time where you were

36:54

essentially forced to self-custity. So as

36:56

a stance today, I believe more

36:58

than 50% of Bitcoin that is

37:00

on the market is held in

37:02

self-custity, but that number can always

37:04

go up. But we don't have

37:07

to belabor that point. I think

37:09

another interesting sort of detail to

37:11

point out here as it relates

37:13

to what's happening in the gold

37:15

markets and if we are repatriating

37:17

a lot of this gold is

37:20

Treasury Secretary of the Senate who

37:22

historically has been really into gold

37:24

and has gold as a core

37:26

part of his portfolio or at

37:28

least before he was when he

37:30

was managing a portfolio before he

37:33

became Treasury Secretary and he's spoken

37:35

openly. over the last 18 months

37:37

about this need for a monetary

37:39

reset, a Breton Woods 2.0, or

37:41

a Plaza Accords type situation where

37:43

everybody gets to the table and

37:46

we agree that the Fiat system

37:48

has gotten out of control and

37:50

we need to sort of come

37:52

to a restructuring agreement of how

37:54

the global monetary order operates, which

37:56

is interesting. No, that's that's that's

37:59

a that's a really really good.

38:01

point about that. So and when

38:03

you assemble a team right of

38:05

like-minded people that are all trying

38:07

to to achieve the same goal

38:09

yeah I think that the hint

38:12

the hint is there yeah yeah

38:14

and what is it you mentioned

38:16

there could be economic turmoil on

38:18

the rise and you think that's

38:20

that's a likelihood do you think

38:22

it's necessary short-term pain for a

38:25

resetting that Gets the the global

38:27

economy the US economy specifically back

38:29

a more stable footing to to

38:31

move forward or so good. Yeah,

38:33

so The US government's got a

38:35

renegotiates. It's dead right Trump has

38:38

been in Bessent had been very

38:40

vocal So the point where I

38:42

think Bessen finally said okay. I'll

38:44

stop talking about it. But he

38:46

they made is their point right.

38:48

I want rates lower. Well why

38:51

stimulate the economy? Right I feel

38:53

like they're what they're actually doing

38:55

with Let's say axing

38:57

capital flow within the government. We're

38:59

the federal government is such a

39:01

big part of our GDP our

39:03

economy at the movement Right, it's

39:05

it's a little bit deflationary. Totally

39:08

it really is and I and

39:10

now tear if I'd say the

39:12

uncertainty companies don't know if they

39:14

need a hire or fire right

39:16

it may impact your business in

39:18

an amazing way it may cripple

39:20

it. So I think right now,

39:22

you know, you're in a we're

39:24

in a situation where Companies don't

39:26

know what's going on. They're not

39:29

spending money. They're not doing projects

39:31

and they're not hiring a lot.

39:33

And so it definitely feels like

39:35

to me that if if you're

39:37

Trump, would you rather this thing

39:39

just crash out a little bit

39:41

in the beginning and then build

39:43

it, build it back? I'd say

39:45

it's possible. The other thing that's

39:47

happening is China's exiting the NASDAQ.

39:49

So, you know, other, other governments

39:52

are invested in stock market, right?

39:54

So. the Swiss are invested, China's

39:56

invested, and I think it's been

39:58

pretty vocal that China... I think

40:00

we've been telling them to get

40:02

your money out of our system.

40:04

I feel like companies at a

40:06

very high level are also being

40:09

told to de leverage from China,

40:11

meaning if you're, this is

40:13

not just tariffs, right? We

40:15

haven't said that China's our enemy,

40:17

right? It's, it's been Russia. It's

40:20

been, and Trump's kind of changed

40:22

in the board right now, but

40:24

we're so integrated with China. It

40:26

does feel like they are pulling

40:28

out capital. themselves out of the

40:31

US. And so, you know, our

40:33

multiples, like you just look at the

40:35

S&P, all the price earning ratios

40:37

are historicized. It doesn't even make sense.

40:39

I know how. And so this is

40:42

where I say there's so much fluffy

40:44

money in this. This isn't you and

40:46

I and families with their 401ks

40:48

just putting money in this is so

40:51

much money was printed and put

40:53

in. And so our global world, like

40:55

we've been in globalism for. quite a

40:57

while. We're now deleveraging all that and

41:00

so this thing could just you know

41:02

poof and just let it get chaotic

41:04

and you rebuild from there and

41:06

that's frankly that's Trump's MO you

41:08

know he walks into a room

41:11

and you don't negotiate when everyone's

41:13

sitting at their table and feeling

41:15

happy he makes everyone feel really

41:17

uncomfortable. and just disrupts the entire

41:20

room and everyone doesn't know what

41:22

chair they're supposed to sit in and

41:24

he's like you know you're gonna sit there

41:26

you're gonna sit there you're gonna sit there

41:28

and you're gonna take that rate and this

41:30

is what we're gonna do and trade and

41:32

in the end it's funny people even

41:35

talk about already you know Trump's capitulated

41:37

on tariffs and such this is

41:39

just this is how he negotiates this is

41:41

and they have said they've been saying that

41:43

we might have to go through a period of

41:46

period of detox. we could be

41:48

facing some some pretty headwinds and

41:50

it may not be comfortable

41:53

for a lot of us and yeah I

41:55

think it could be at moments

41:57

tragic even what what could

41:59

happen Well, this is something that,

42:01

so this is what got me

42:03

into Bitcoin. I'm a child of

42:05

a great financial crisis of a

42:07

senior at high school in 2008

42:09

when everything went to shit. Study

42:11

at economics in college and really

42:13

went to college with like a

42:16

know your enemy mindset. Like how

42:18

could it get this messed up?

42:20

And I think tarp in the

42:22

bailouts really rubbed me the wrong

42:24

way. And I think you make

42:26

the argument. This is a detox

42:28

and some harsh medicine that... It

42:30

seems like Trump and the team

42:32

that he's assembled are willing to

42:34

take, and this should have happened

42:36

16, 17 years ago, arguably, you

42:38

can go all the way back

42:40

to the 70s, and it's necessary,

42:42

it is going to be very

42:44

tumultuous if we are going through

42:46

a detox period here. However, in

42:48

the long run, it will be...

42:50

massively beneficial particularly for the common

42:53

man because if you look at

42:55

the markets that this detox is

42:57

most likely going to affect it

42:59

is equities and assets like real

43:01

estate that are a lot of

43:03

the wealth is held in but

43:05

that wealth is controlled by a

43:07

minority of individuals in the United

43:09

States and so it's going to

43:11

suck for them if you own

43:13

debt, view on these assets. your

43:15

well is going to come down

43:17

considerably, but for the flyover states,

43:19

the rust belt, Main Street, whatever

43:21

you want to call it, it's

43:23

a necessary resetting. And if it

43:25

is deflationary, makes things more affordable.

43:27

And I think Trump, at least

43:29

from my observation, it seems like

43:32

he's trying to choreograph and really

43:34

be somewhat communicative about. about this,

43:36

which I think is completely necessary,

43:38

is you're going to hear and

43:40

see headlines about the mainstream media

43:42

and a lot of people in

43:44

high finance, about markets falling and

43:46

Trump being a terrible president, but

43:48

I think really getting out there

43:50

and communicating, hey, this is necessary

43:52

medicine to get to a more

43:54

stable foundation to build from is

43:56

important. Yeah, I think. So my

43:58

company's name is Scottsdale Mint, so

44:00

it has the word Scottsdale in

44:02

it, but I. started just over

44:04

four years ago to move it

44:06

to Wyoming. So I'm now in

44:09

Wyoming. We moved our old staff

44:11

up over the last number of

44:13

years. Kind of preparing for this

44:15

event. Our facilities even in a

44:17

foreign trade zone. And so we're

44:19

essentially our vaulting and manufacturing operation.

44:21

We're within a free port. And

44:23

a lot of people were like,

44:25

well, what does that mean? Because

44:27

we're a free trade society. Well,

44:29

if you look back to Great

44:31

Depression. was the smooth holly act

44:33

and that's when the US had

44:35

25 to 50% tariffs. A lot

44:37

of people can look back, critics

44:39

of it would say, you know,

44:41

even though they put it on

44:43

to re-shore jobs and to create

44:45

economic activity with factories and everything,

44:48

it kind of delayed their economic

44:50

recovery and it extended that depression.

44:52

But there's other critics that say,

44:54

was it done on purpose? And

44:56

then... was it done on purpose

44:58

to allow a monetary financial transition?

45:00

So if you got to think

45:02

that time of the world, right,

45:04

we were also moving, kind of

45:06

the system was moving from European

45:08

control into a United States. So

45:10

they kind of put everything on

45:12

ice. I'm not saying I thought

45:14

this was going to happen this

45:16

quick, but here we are. And

45:18

so we're talking about the same

45:20

things that we did during the

45:22

Great Depression, which is again, you

45:25

know, for those fourth turning book

45:27

guys out there, right, you know,

45:29

you know, every 80 years. So

45:31

here we are, here we are

45:33

with tariffs. And so I do

45:35

think we're going to be faced

45:37

with some really, really interesting, hard

45:39

times. And so, you know, building

45:41

a company that is able to

45:43

hold assets like artwork. there's tariff

45:45

on art, right, we can bring

45:47

it in. It could be showcased

45:49

held here or other assets if

45:51

it gets tariffed. And so, you

45:53

know, this is, yeah, it's kind

45:55

of, in Wyoming, it's a little

45:57

bit of a, it's a rugged

45:59

place to live. Not a lot

46:02

of people live, live in Wyoming,

46:04

but a lot of blockchain companies

46:06

are here, right? It's got some

46:08

of the best property, right? That's

46:10

where almost every crypto custody company

46:12

out there is now based in,

46:14

based in, based in Wyoming. Obviously,

46:16

Cynthia Lummus is pushing it. And

46:18

so I think through the destruction,

46:20

to your point, that there's gonna

46:22

be hard times, but there's also

46:24

gonna be some potential good times

46:26

too that come out of it.

46:28

And I think for those that

46:30

are positioned for it, maybe have

46:32

delavaged and let's say the old

46:34

school finance stuff, and there may

46:36

be more position for what's coming.

46:38

And I'm a big fan of

46:41

like, you know, that's where, you

46:43

know, Maxi on anything, I feel

46:45

like is, especially, like, like you're

46:47

a young kid. You got 10

46:49

bucks turning in, you know, you

46:51

walk into a casino, you put

46:53

it all on black, right? There

46:55

you go. And you hit it,

46:57

you lose it, no big deal.

46:59

But as you get older in

47:01

life, you've got a family, you

47:03

have assets, you know. So at

47:05

some point, and I have a

47:07

lot of friends with, they have

47:09

so much Bitcoin and Ethereum, a

47:11

lot of them both, that they

47:13

can never really sell it without

47:15

moving the market, and yet they

47:18

still diversify. right? And they still

47:20

hold it, they diversify along the

47:22

way in their reposition. So I

47:24

think that's that's kind of the

47:26

world we're in. It's not, I'm

47:28

not a doom and gloom guy

47:30

that I'm an off, I'm optimistic,

47:32

but let's be frank. The public's

47:34

not going to find out on

47:36

anything until it's kind of too

47:38

late. Like did they tell you,

47:40

hey, buy Amazon stock? It wasn't

47:42

very easy. Buy Apple. I mean,

47:44

how many people have held? the

47:46

whole way through, right? Not a

47:48

lot. And you know, I even

47:50

look at guys like, so people

47:52

that got me into it. I

47:54

won't name a few names, but

47:57

like a Roger Verr, right? He's,

47:59

he was, you know, Bitcoin Jesus,

48:01

right, and kind of got defamed

48:03

because he was very concerned about

48:05

Bitcoin. He did, you know, Bitcoin,

48:07

he didn't, you know, Bitcoin, he

48:09

didn't fork it himself, he was

48:11

a big proponent of that, but

48:13

I don't know if he ever

48:15

sold his Bitcoin. So in theory,

48:17

he might be the largest holder

48:19

of Bitcoin in the world, and

48:21

you watched what just happened to

48:23

him a few months, a few

48:25

months ago, I actually think he

48:27

might be still one of the

48:29

largest holders of Bitcoin. I wouldn't

48:31

be surprised a lot either. Toshi

48:34

is possible. It's possible. So man,

48:36

and he was an Austrian economics

48:38

guy. So I maybe wasn't as

48:40

billion as him. He was in

48:42

gold and silver. So was I.

48:44

I think I was on a

48:46

website to buy Bitcoin when it

48:48

was $1.40. And you know what

48:50

I said to myself? I said,

48:52

this feels like. World of

48:54

Warcraft people it feels like magic

48:56

the gathering this way it's like

48:58

and and I was at that

49:00

point that's what it was and

49:02

I said you know what this

49:04

isn't for me so I wasn't

49:06

that smart I didn't get into

49:08

it till a number years later,

49:10

but Yeah, it's just it's an

49:12

interesting time. But I think this

49:14

is it's also an opportunity This

49:16

is the probably the greatest opportunity

49:18

for people of all ages to

49:20

say hey, how I'm gonna strike

49:22

out for whatever's coming ahead It's

49:25

a wonderful time. There's so much

49:27

change, right? Volatility. You know, when

49:29

things are stagnant, you can't really

49:31

move. So things are gonna be

49:33

really volatile, be breathtaking. So I

49:35

think for those that are paying

49:37

attention and positioning and trying to

49:39

work on things, hopefully you can

49:41

come out the other side and

49:43

take care of your family, your

49:45

friends and other people. So, you

49:47

know, it's. It's a, you know,

49:49

it's not all about like just,

49:51

hey, I'm gonna be the next

49:53

king, right? If there's a, there's

49:55

a, there's a component there of

49:57

like, I would say if you've

49:59

been blessed with knowledge and then

50:01

from, and then you are then

50:03

blessed, like you're steward of that

50:05

asset to take care of people.

50:07

That's kind of. some of my

50:09

mindset, create jobs for new people,

50:11

create things, do things. And that's

50:13

where I think, you know, you

50:15

look at a lot of things.

50:17

There's going to be so many

50:19

new opportunities while AI might exit

50:21

a lot of stuff that doesn't

50:23

need to be in existence anymore.

50:25

There's going to be new opportunities,

50:27

hopefully, for people that have the

50:29

skill set to kind of go

50:31

forth. I completely agree. And I

50:33

think, I think this the base,

50:35

fake Fiat world that we've lived

50:37

in is really paralyzed people from

50:39

going out and doing these productive

50:41

things. And so while there may

50:43

be some volatility on the horizon,

50:45

hopefully like results individuals into like,

50:47

oh, maybe I should go start

50:49

a company. Great jobs. Be productive.

50:51

And once you reintroduce opportunity costs

50:53

to the market, like that actually

50:55

becomes incentivized. And so, I mean,

50:57

on that note, last question, considering

50:59

everything that we've discussed, it seems

51:01

like people. are wholly convinced that

51:03

what Trump and percent are doing

51:05

right now, they're letting the stock

51:07

market go, they're trying to get

51:09

the 10-year yield down so they

51:11

can refinance, and by letting the

51:13

stock market go, hopefully incite the

51:15

Fed to lower interest rates, begin

51:17

QE. Again, do you think that

51:19

is a foregone conclusion? Do you

51:21

think that will happen? Or is

51:23

this sort of repatriating of gold

51:25

that we're seeing? a signal that

51:27

there's another option on the table

51:29

that they may be going for

51:31

and maybe the market consensus of

51:33

the Fed stepping in at some

51:35

point this year driving rates the

51:37

zero and blasting QE again during

51:39

the same old thing that we've

51:41

done since 2008 is misguided. I'd

51:43

probably get a differ for a

51:45

lot of people that are following

51:47

the goal camp. I don't think

51:49

anything's gonna happen tomorrow. A lot

51:52

of people are like, this is

51:54

it. This is all having, I

51:56

view this, I think it's a

51:58

journey. So we may not. an

52:00

audit of the US Gold, it might

52:02

be six weeks, it might be six

52:04

months, it might be never, right? And

52:06

so this, it actually could go

52:09

quiet in theory. So I do think he

52:11

is, I think on the table

52:13

right this minute is probably the

52:16

the interest rate component, right, trying

52:18

to shake around what we just

52:20

saw today. Inflation number is down,

52:22

right? So cut the tables now

52:25

being set to so that Powell

52:27

could in theory. justify some downward

52:29

revisions. And so, you know, if you started

52:31

to create a little bit of volatility, right,

52:33

and we've already seen it in the NASDAQ

52:36

and the S&P, right, things are, you know,

52:38

monies kind of being liquidated. And

52:40

normally it all runs to dollar and it's

52:42

kind of an interesting, Golds held really

52:45

strong, which a lot of times, and

52:47

it still could get, it'll have moments,

52:49

it gets whacked like everything else, but

52:51

it's actually held very strong, even despite

52:53

this volatility just in the last week.

52:56

So I'm kind of in the camp

52:58

of somewhere in between here. It's

53:00

probably a journey, not an overnight

53:02

thing. It's just he's still

53:04

fighting things. I'm guessing internally

53:07

the government is probably a

53:09

beast to work with. And

53:11

he's probably trying to figure out

53:13

who his partners are. So it's

53:15

possible that he's just, you know,

53:17

kicking Mexico and Canada in

53:19

the nuts and basically like get

53:21

your house in orders because these

53:24

guys are. I mean Mexico's fairly narco run,

53:26

right? I mean how many how many

53:28

people ran for office and were knocked

53:31

off before the one that's in office

53:33

and so the question is where does

53:35

her alliance and I think we

53:37

Canada feels like it's it's through. Yes

53:39

indeed and I think this like

53:42

no one voted for this guy

53:44

he holds three passports he's from

53:46

the Bank of England by the

53:48

way I believe so yeah. very

53:50

Davosy. So I think we're that

53:52

that scenario here is yeah I

53:54

don't know like the Axis allies

53:56

of whether that's a kinetic

53:59

war or It's an economic thing, like the

54:01

table could change a little bit here. And Europe's

54:03

kind of going alone for the moment. Like, they

54:05

want to take on the army of Europe and

54:08

let's go after Russia? Well, I don't know. I'm

54:10

down to Cup A with Europe. They don't really

54:12

look like they're aligned with our values these days.

54:14

It's well, that's been for a long time, right?

54:17

And, you know, look, not, not that. Putin's an

54:19

amazing guy, but to say that it was all

54:21

him and not, I mean, the whole thing's been

54:23

fabricated and created, and it's been a proxy war

54:25

for a number of years now. So the moment,

54:28

someone puts boots on the ground, and I'm gonna

54:30

go with this as another factor. In the moment,

54:32

like let's say the UK, Starmer's been saying, you

54:34

know, it's time, we may need to send troops,

54:37

well, the moment that is, you're now a target

54:39

risk for a ball. Right. And so some of

54:41

those that asset that's flying out London, right, it's

54:43

a risk factor. So does the UK really have

54:45

the ability? No. So yeah, we're, I mean, the

54:48

US doesn't want that war either. So it's, but

54:50

some groups do within the United States. They want

54:52

war. That's just, you know, on both sides of

54:54

the aisle, a lot of people don't want peace.

54:57

There's so much money to be made through a

54:59

lot of this activity. So. Yeah, it's sorry I

55:01

got off tangible here. It's just there's so much

55:03

happening that the news is I love it I'm

55:05

not an economist I'm just I'm kind of in

55:08

it in a weird way I'm not any any

55:10

special guru. I've just been around a long time

55:12

in in the space I see I see I

55:14

see things and I talked to I talked to

55:16

smart people like like yourself that just we're all

55:19

putting pieces of the puzzles together and talking and

55:21

trying to have good conversation. Yeah. Well, well, thank

55:23

you for Hoping on X and giving your perspective.

55:25

I find it extremely fascinating and gold obviously a

55:28

Bitcoin guy I've been in Bitcoin for 12 years

55:30

and have had many people who are hurting gold

55:32

on for years the the

55:34

years. time the last time

55:36

we really talked about

55:39

this physical gold movement was

55:41

in 2020. was So in

55:43

really happy that you came

55:45

on that you came on to give a

55:48

break. Don't let Peter Schiff give that the whole

55:50

goal that the whole I'm probably

55:52

probably kind of a

55:54

little bit of an oddity

55:56

an I've just been in

55:59

the space. just been in the

56:01

I digital art. digital art. Some

56:03

has done amazing, like amazing.

56:05

Some Some of it went

56:08

to nothing. I like

56:10

to to I like to just

56:12

be part of like

56:14

what's going on in culture.

56:16

What's what's happening out

56:19

there, but I also out

56:21

love the physical art. So

56:23

I feel like you art.

56:25

do the digital things

56:28

and you can own the

56:30

physical things things and can

56:32

have fun with physical So

56:34

it's going to be an

56:36

awesome fun with both. So Yeah, it's

56:39

be fun. be an Stay

56:41

frosty out there, Yeah, Josh,

56:43

thank you for coming there,

56:45

we can do this again

56:47

at some point you for

56:50

the future. on. Hopefully we thanks,

56:52

Marty. again All right. Peace

56:54

and love, in the future. Absolutely.