joining us now is tony artaban of wise wolf gold, and tony has set up david knight dot gold, which will take you there and let him know that you're coming through us. Always good to have tony, and he has been incredibly busy, uh, the last couple of weeks because of what is happening in the gold market. I've talked a little bit bit about this, how it has really shot up. It's like up 19%, if I remember, over the last month or something like that, but a tremendous jump in the price of gold. Thanks for joining us, tony.
Speaker 2:Well, thanks for having me, David, it's good to see you, Good to see you. The price of gold it keeps hitting its all-time high. It's hitting it so often I'm not even keeping up with it anymore. I think it's hit its all-time high like four times in the last 30 days. That's right.
Speaker 1:You look at it, it's like is this a new article or what is this? So much so that the Mises Institute is asking so is gold overpriced or can its price go even higher? And I thought that was interesting because, you know, the Mises Institute is a financial think tank, economic think tank, looking at the writings and of course you know just a general free market, libertarian perspective of Ludwig von Mises, and they're not selling gold, but they're looking at this stuff and they thought, well, you know, it's expensive compared to what was their question. Well, you know what, expensive compared to what was their question.
Speaker 2:Well, that's right, I mean, what you're actually watching is not gold reaching its all-time high, it's the dollar reaching its all-time low. It's an inversion Because, as you know, if you go back to our original system here in the United States, the bimetallic system, there was no inflation in the 19th century. So a pair of shoes in 1800 would cost you the same in 1900. There was no inflation because we had a gold standard and we had a silver dollar and of course that changed it pretty much. In 1933, when Franklin Roosevelt did his executive order for you to turn the gold in, he raised the price of gold at $35 an ounce, once all the Americans that complied there's a lot of Americans that didn't comply, david, because I buy those coins all the time, those pre-1933 American coins but they raised the price of gold to $35 an ounce.
Speaker 2:That was a banker's ploy to shift the gold away from the United States to the Bank of International Settlements. You can go back and read the history. But again after 1944, bretton Woods, $35 an ounce and it stayed that way until 1971. And then, richard Nixon, because of all the debasement of our currency that the countries, other countries, noticed, we took the silver out of our coinage. We were writing checks beyond our capacity for guns and butter in Vietnam and the great society on the Mekong, like LBJ said. And so Richard Nixon knew that we couldn't continue to keep the gold window open and they went off the gold standard and August 15th 1971, gold went up 2000 percent. But that doesn't mean that gold went up. It just means that we have a revaluation of fiat currency and now every have a revaluation of fiat currency, and now every country on earth has a fiat currency. They all followed the United States after 1971. The United States now has the oldest surviving fiat currency in the world. The average lifespan is about 26 years. So we doubled that.
Speaker 2:And so I think you're just going to continue to see these price shifts because of the BRICS nations primarily, and I don't. I honestly, david, I don't think we would see these prices in gold this fast the way it's doing, without the war in Ukraine, with sanctions that were placed on Russia after NATO provoked in my opinion, nato wanted that incursion, but they put the sanction, we put the sanctions on russia, uh and uh. The russian finance minister months later said well, dollars are candy wrappers to us and got off of the system. Other countries took notice. We have 40 different sanctions on 36 different countries, weaponize the dollar. So I think what you're watching really is not so much that, uh, gold is having its, it's that the dollar is losing ground, losing ground rapidly.
Speaker 2:The world is taking notice. They want a revaluation of commodities. That's what Brazil, russia, india, china, south Africa, now Saudi Arabia, are all about. That's the re-evaluation, in my opinion, of all commodities, and I was looking just before we went live. Other countries like India, record numbers of silver being or record numbers of gold in China. China had a major ETF had to stop trading because people were buying so much paper stock gold. There wasn't enough gold to back it up. At least that's what I'm looking at. Yeah, and this is going to be a problem, I think, in the West too. We're just at the beginning of this. If you think you missed the boat on gold and precious metals, especially with silver still being under $30 an ounce, you are mistaken because there's a lot of room left here, but it's not looking good for King Dollar.
Speaker 1:And of course, I talked about this earlier in the week and they were saying they talked about the inverse relationship between the Federal Reserve, fiat currency and gold and how you know one would go up and down in an inverse relationship with each other and they said so always these Western institutions under certain circumstances they would start selling their gold and you know the East would buy it up and that type of thing. But that all got broken, they said, with these sanctions and other things that are happening. It also got broken with this ETF stuff that is out there because they have used that to essentially create a fiat gold system that has gotten so out of whack that they can't even make a credible case for it. As you pointed out, they had to suspend trading on it, but as Forbes looked at it, it was tremendously. I forget what the ratio was. I'll look it up here as we're talking, but the ratio that was there was absurd and they said well, that's even a conservative one. A lot of people estimate that the ratio of ETFs that are out there trading about gold are much, much higher than the actual physical gold that's there.
Speaker 1:But we're saying a lot of the same things that you've said in the past, where what was interesting earlier in this year was the fact that the Federal Reserve was making these different moves, like hiking the interest rate up and things like that that normally would cause gold to go down and it was holding its own, and things like that that normally would cause gold to go down and it was holding its own.
Speaker 1:And they said that's because everybody has lost so much faith in the dollar that they are still accumulating the gold. And as the institutions want to sell off their gold, there's still more demand keeping the price high. And so I think that's really what the Mises Institute was talking about. They said you know, if you are we late on all of this in terms of getting into gold, well, not unless you think that they've somehow figured out what they're going to do with the fiat currency and if they can somehow fix this stagflation, or this dragflation, as Salenti calls it, you know, like a recession, not just stagnant, but a real recession, along with inflation. If you think they've got that solved, then yeah, you'd be late, but they've got some so many built in problems and things have shifted underneath them that a lot of people are saying this is just the beginning, and so that's. That's where you've been, I guess, just kind of running around trying to keep track of demand and orders.
Speaker 2:Oh, absolutely. And the rules of the game are changing. I mean, jerome Powell first said that inflation was transitory, along with Janet Yellen this was all transitory and nothing to worry about, nothing to see here. And then they became very hawkish and they're going to whip inflation. No problem, we got this and they raised rates faster than any time in history to curtail that inflation. Then they felt like they're really confident this last six months or so.
Speaker 2:We're going to talk about lowering rates because the economy could sure use a goose before the election. Not that they're political or anything, david. The Federal Reserve is way above that. They're not playing politics, they're not going to intervene. But they got a problem because the latest data that's out inflation continues. The economy's roaring along, inflation continues. And what are they going to do? They've promised these rate lowerings. The European Central Bank has just backed off of a rate lowering, so they're going to hold rates. So we're not going to see I don't think we're going to see any rate lowering for a minute or two. It may be going to right before the election. They're going to do it this year.
Speaker 2:I think they, I think they've promised too much. There's too much built into the system. It's all rigged. As you know, this isn't your father's stock market. Wall Street's not based on profit anymore. It's based on environmental, social governance and your relationship to this central bank. It's it's not really entrepreneurship anymore. So I think you're going to see some intervention. There'll be some rate lowerings, but it's hard to do that in the face of the data that's coming out, and a lot of this has to do with the energy sector. As a matter of fact, the White House is not going to be buying back food off the open market to replace the strategic petroleum reserve. Yeah, that's insane. I mean, we're not replacing our strategic petroleum reserve in the face of all this geopolitical upheaval. Honestly, I think this is them not wanting to drive the market up or do something to increase the price, because that's where you're seeing inflation. It's in the items that people need.
Speaker 1:He sold off the Strategic Petroleum Reserve to lower the price before the election. Not even Obama did that. Always in the past they would hold that until there was a storm that came through and took refineries offline in Louisiana or something like that Some kind of real disaster. That's what they would use it for. Biden used it to make himself look good, to temporarily lower the price of gas and, of course, if he goes out there and replaces it at this point in time, that is going to mitigate against reducing the price of gas, because he's going to be you know out there buying stuff that will bid the price up. So the only thing he can do now is just to set it out and not refill. That it's really. It shows how he has absolutely no interest in what is good for this country. It's all about his own personal political gain and in that regard, he's just like Trump.
Speaker 2:It's almost like it's a plan, david, like a controlled demolition, yeah, like the calls are coming from inside the house. I mean, all these decisions that are made are not strengthening our economy. They're not strengthening our readiness as far as national security. Obviously, this is all part of a plan. It's an inside job and you see this, this is the consequences. You want to. You want to intervene unnaturally in the market. You want to release crude from the strategic petroleum reserve to lower the price temporarily. Well, guess what If the price goes back up and you have to replace that when you buy it again? It drives the price up. So your intervention backfired on you again. It's the same thing with these.
Speaker 2:You know, can you imagine going back in a hundred years and saying, well, I don't know what's going to happen to the economy. The Federal Reserve hasn't told me what to do yet. I mean, nobody was looking to the Fed to figure out what's the next move, what should I do? What should I invest in? This has become so ubiquitous. It's just, it's it's permeated all of our culture. What the federal reserve is doing, and, frankly, what they're doing, is they're ruining our currency. Uh, faster than than really, I think is natural. I mean I think we had a little bit more time left on the dollar, honestly, but just the amount of hubris and the sanctions that are placed, I think everything's accelerating and the teleprompter reader hairdo people on these financial networks.
Speaker 2:They just don't get it, david. They keep saying, well, gold is up and that's crazy. Gold is way up and they keep looking at the price and I wonder why that is. There's inflation data. It's not that bad. I mean, they keep going.
Speaker 2:But again it's the central banks around the world buying gold and, as you mentioned earlier, these ETFs and this paper gold that's out there all around the world. You can't really back that up. I don't have any faith in that. It's kind of like the silver market. I know because of the data and I've interviewed the experts. If you had a whale come in like an Elon Musk or some big buyer, you could corner the silver market right now, just like the hunts did in the 1970s. But see, the deep state got rid of the hunts. They made sure that nobody exposed that. Because what you're exposing, if you can corner a monetary metal and get the physical supply, is you show that the currency that it's shown in value of is actually fake and that's what the Hunts did in the 1970s 1980, $52.50 an ounce for silver. That's crazy if you think about what $52.50 would do now for your purchasing power. In the 1980 terms that's like $300 today. So I don't have any faith in these markets.
Speaker 2:I think that supply is a lot thinner than people realize and that's what's really driving the price. When people are demanding physical gold, especially places like India and China, it's driving the price, David, and it will come here. Costco is selling gold bars and we talked about this before. We've seen this phenomenon where they they'll, they'll list the price and I think they're like 50 bucks over spot or something like that, and then they'll sell out and then you can't get them. We have supply, but I would say that it is thinner than you think that it is and it's. I'm not not going to overpromise and say I can get any variety of anything, because I really would watch that. As people start to wake up and demand precious metals, this price that we're looking at now is going to be quaint. That's right.
Speaker 1:And you know we're talking about the paper gold thing. A lot of people who look at this and say, well, I don't like the dollar, we need to go with gold, they'll go with the paper gold and they don't realize that's one of the this RT article that I was talking about the other day gave the figures that Forbes came up with. And Forbes said well, according to our calculations, there's about 200 to $300 trillion worth of paper gold out there, but there's only $11 trillion worth of gold. So in other words, they're selling 20 to 30 times the amount of paper ETFs. We're going to give you a share of the gold. They're selling 20 to 30 times what they actually have. And they said we think that that's very conservative, that it's actually much worse than that.
Speaker 1:And, as you pointed out earlier, china had to suspend trading because there was so much demand that it was getting out to a level that nobody would believe. I mean, if people believe that there's 20 to 30 times the paper gold out there, that there is known physical gold reserves, they're not going to believe it at some point. If it gets up to 50 or 60 or 100 times or something, at that point it becomes unbelievable and the bubble bursts. But that realization is going to come around at some point and there will be a reckoning, and so all the people who are interested in collecting gold are saying well, I want the real thing instead of paper. That's when another type of gold rush will happen, because that's another competition to physical gold, that paper gold.
Speaker 2:I like what Larry Fink, the head of BlackRock, said a couple of weeks ago about people in countries like India and China and emerging markets. He said you're not helping when you're buying gold. You're not helping anything, you're not helping the market. It doesn't do anything. And I thought, oh, there's the rub, there's the tell. He's been pushing the Bitcoin ETF and people are just scratching their heads like what is he doing? In my opinion, I think the Bitcoin ETF for entities like BlackRock is a lifeline to a dying system. At least gives them some finite. They can put their clients into that. But if they start putting their clients into physical gold, it does bankrupt the entire system a lot faster because people start to realize as physical gold demand goes up, the price goes up. It doesn't really go up when you put them into paper. It doesn't. I've not seen that. I only see the price rise really when I see central bank demand and I see these reports coming out of people you know the average person Like China.
Speaker 2:They're buying gold beans just like a bean size of a coffee bean in gold, just as much as they can. It's not even coined, it's not even put into bars. People are hoarding it and I think I've. I've talked about this before, but China has like 60,000 gold mines and they don't. They're not a net exporter. So and and China, russia, they're they're talking right now about a new financial system. The bricks want to back a new system with gold, a digital system. Zimbabwe, david, zimbabwe that had the trillion dollar notes. They've got a new gold-backed currency that's emerging.
Speaker 2:So the monetary system around the world is going through a transformation and, as you notice, the central bank's buying gold and what you have to watch is, while they're buying gold, they're also putting together the plans for the rollouts of their own central bank digital currencies. That's the danger. They're going to build this control. They are building this control grid for all of us. It's going to lead back to the Bank of International Settlements and the IMF and other things. They're going to consolidate these clearinghouses. We have to watch that here. We have to continue pushing decentralization, supporting states that want to have their own bullion banks, supporting free markets.
Speaker 2:And you know there's a lot of argument about what's happening with the Bitcoin ETFs and I think you and I will continue to talk about that every week because it's really interesting and Bitcoin's over 70,000 today. But Bitcoin really drives the argument. It's like why? Why are people buying it when they find out, oh, you can't make any more of them? And that becomes an. That becomes a conversation, conversation starter, especially when we're given you know what? How many dollars are there?
Speaker 1:uh, more, there's just more always just a little bit more. As I say, just a little bit more well, and that's the thing you know about bitcoin. If you want to, that's the thing you know about Bitcoin. If you want to buy Bitcoin, get Bitcoin. But why would you get an ETF?
Speaker 1:You know, whenever I look at these ETF things, based on the experiences that we've had with derivatives, with the real estate derivatives that they did, you know, I mean, there's nothing. They're not making any more land, you know, as they always pointed out, and these were real physical assets and all the rest of the stuff, but they crashed it with an ETF. You know, essentially with derivatives that they were putting through To me. I look at this and you understand there's a couple of different things going on. I think, when they create these derivatives, these ETFs, of course they're going to make a lot of money off of it. They've got a way that they can make money off of that, but I think they typically do that and they usually wind up crashing the market, no matter how solid or real it is, just like they did with real estate. So you believe in Bitcoin, you want to get into Bitcoin.
Speaker 1:Still, be careful of these ETF things. I wouldn't want to own them, but it would make me scared and does make me afraid, you know, even for the Bitcoin thing, because how are they going to manipulate that? Are they going to get people into the Bitcoin thing and then crash it and then try to push them into CBDC? We know they want to crash the financial system so they can establish this new system, and so that's another thing that makes me suspicious about why they would do these ETFs. So I'm very suspicious of both the ETFs for paper and silver and also for Bitcoin. I think you know you want to get something. Get the real thing, also for Bitcoin. I think you know you want to get something. Get the real thing. Don't get this no-transcript.
Speaker 2:I'm with you on that and I've been in Bitcoin since 2016. I had some of the first Bitcoin ATMs we discussed many times. But I'm skeptical of the ETF side and I like easy to get by itself and you should have your own wallet, your own keys and understand what that means. I mean really knowledge in the in in the coming years, the most important thing. Somebody asked me the other day what, what's the most important thing. You know what kind of equity? I said knowledge, knowing how to use something. And go back to the third counterparty risk. You know, if I have a gold coin in my hand right now, that's mine. I don't have to worry about a bank. I don't have to worry about an institution or a CEO or embezzlement or anything like that or fraud. I've got it in my hand and if I bought it from a reputable dealer, then I've got value and that's.
Speaker 2:Gold has been money and silver has been money for thousands of years and it will continue to have value as long as I think it's their civilization. You know, I've bought some coins from the Roman era and kept them here at the shop. They're valuable because there's gold in them. Some of the ones that are debased. The old Roman coins have a little bit of value, but not much. It's the metal that made them valuable throughout the years. You can still use them as money. That made them valuable throughout the years. You can still use them as money.
Speaker 2:So I like, in the coming years, I think it's going to be more important for cut out the middleman. You don't need ETFs, you don't need an institution. Learn how to own things yourself, and that's one of the reasons I'm in the physical precious metals business. And we have things like the membership program, like Wolfpack, where, even if you don't have a lot of money and you've just got a little bit, you want to put some savings in. Let us do it. Let my team go find value for you with even as little as $50.
Speaker 1:Yeah, that's why, you know, earlier this week I talked about you know, what's happened in recent history with the Bretton Woods 2 and on and what is happening with that. But when you look at these today, the articles that I kind of focused on were things from Mises Institute and other people were talking about the economics of inflation, because that's not going to go away. You know, we talk about how you got paper, gold, paper, silver paper, Bitcoin and all the rest of the stuff. Well, there's still the paper dollar, which is the worst of these derivatives, the most easily manipulated, because they're printing more of it all the time, as you point out. You know, people look at Bitcoin and say, well, they're not making any more of this or it's getting more scarce. So that's where we want to be, because that's, you know, it's the printing where they called quantitative easing. It's the manipulation of the interest rates.
Speaker 1:They have so many different ways that they can manipulate the value of the paper dollar that it's just not a store of value at all. And then, of course, besides their direct manipulation, we've seen it many times in our lifetime get out of hand, many times in our lifetime get out of hand, and we're at one of those moments right now where these guys who are pulling the levers you know the, the guy behind the, the man behind the curtain, like the wizard of Oz once he gets into that balloon it's like come back, I don't know. I don't know how it works. You know, once he inflates that balloon he's just heading off. And we've seen that happen with the federal Reserve wizards many times, haven't we? They don't know how it works, they can't come back to where they were.
Speaker 2:Well, no, and that's all. Fiat currencies go to zero. So they're just playing a game in the interim, you know, and I think that the dollar is going to digital. That's their plan. I think all these plans have been accelerated. I don't think that we're supposed to be seeing right now the swift decline that there is, but be seeing right now the, the swift decline that there is.
Speaker 2:But you know, even go back to the, that the allegory of the wizard of oz this is l frank bomb wrote that in the late 19th century. That was the cowardly lying was, uh, william jennings bryan. You know the cross of gold speech, and what was. What was william jennings bryan talking about? He's talking about free silver. Because we had such a strong currency, the farmers wanted some relief and they hit the Comstock load we had in the 1870s out in Nevada and they wanted to release that silver into the market to help ease the debts, to increase the money supply. Now, it wasn't fake, they didn't want to dump fake money into it. They wanted to dump silver in there to give the, and that was a populist move, to give the farmer some relief.
Speaker 2:I think there's going to be an argument for that. But the, you know the banksters ran with that and of course you end up getting the Federal Reserve because they kept pushing that as a way to help, you know, stave off crashes and things like that. But that's where all of that the yellow brick road, the Emerald Palace is the greenback. You know all of that stuff on the Wizard of Oz and it is, it's wizardry, it's economic alchemy, and you know it's really insane to watch David. I got in this business years ago and every year now, every month, and we're seeing some change in the monetary system, in the market. And you know we were talking about a couple of weeks ago and I still can't get over it. You know it took us from the founding of our country to the time I was born to go a trillion dollars into debt and now we do it every 90 days.
Speaker 2:Yeah, yeah, I mean, just let that sink in. Once you let that sink in, you realize we've passed some sort of boundary where we're never going to be. I mean, we're not even talking about fiscal responsibility or anymore Nobody's running on that politically. So I think we've we've crossed some sort of boundary. So it's time to start thinking about how do you, how do you thrive and survive. How do you weather the storm of what's coming? It doesn't matter you and I can't stop it. You know, whatever it's, whatever it's down the road, all we can do is prepare and try to use history as our guide.
Speaker 2:You know what was the what, what happens in times of hyperinflation and what happens in times of economic uncertainty or or currency shifts. You know you don't want to get left holding the bag. I saw that in Iraq. That was a microcosm of things, but I watched a currency go to zero in real time. Nobody wanted to pay people running out of the banks with, with boxes of Iraqi dinar that no one wanted. Yeah, yeah, Think about that money that no one wants, Wow.
Speaker 1:Well, yeah, we're definitely not in Kansas anymore. Uh, we're in, uh, davos or something, or Baghdad or something like that. I mean, we're in some alien territory. That's why, you know, grab something that's real, that's held as value for a very long time, and, of course, as I you know, we talk about it. You can handle transactions there at Wise Wolf and you've got the Buyer's Club there Wolfpack Anything new with Wolfpack that you want to talk about?
Speaker 2:Well, we're got a new special 1776. If you type in promo code 1776, you go to davidknightgold I've got some free silver. So talk about William Jennings Bryant I've got free silver. Go to Wolfpack, we'll give you free silver. We'll put some silver in the package for you if you upgrade or if you join. We'd love to have you. The more people that join I think we're right at almost a thousand and I want to celebrate when we hit a thousand.
Speaker 2:It's been a lot of work. I got a great team here. We're always packing, packing new packages and tracking things that I know why the big guys didn't do this. Now, um, and I'm happy to have done it. It's really, it's what sets us apart, because we care about. We flipped everything on its head. We're not just chasing people that have, uh, you know, a large savings account or a retirement head. We're not just chasing people that have a large savings account or retirement account. We're talking to everybody, and everybody deserves to be able to have real precious metals. They can trade their fake currency in for real money, and we do that here at Wolfpack. So, yeah, promo code 1776.
Speaker 2:I'd also like to say too David, with the markets the way they are, we're pretty much seamless now on being able to any kind of IRA 401k. If you've got it in the paper markets and you're interested, you should reach out. Go to David Knight, go, let us know if we can walk you through what that process would look like turning into physical precious metals. We can do that without penalties and all that. We just use our partner company, new Direction Trust, and even if you can't do Wolfpack or you don't want to do a monthly, we have one-time orders and nothing's too small. That's what Wise Wolf's here for and we've got a great supply line, we've got a good team and we're just we're so happy to, and proud to, sponsor your program.
Speaker 1:Well, thank you, and of course you know taxes are coming up April 15th. If you haven't put money into your IRA, you've got just a couple of days to do it and you know you might want to do something with some kind of a precious metals IRA through New Dimension. That works with you there at wisewolfgoldgold. People can get there by DavidKnight Gold Always great talking to you, tony. We're in really interesting times and I know it gets really difficult for you as everybody sees the price going up. That gets their attention and everybody starts investing in it. Fear of missing out. But I don't think that people have missed out at this point. Neither do the people who are writing about the. From a financial and economic standpoint, they think there's a lot left in this because they're going to continue to try to feed the inflation beast for this election at the very least. And that's assuming that they know how this balloon they inflated actually works and they can control it. I don't think they can.
Speaker 1:Let's get away from far too many times. That's one of the best analogies, I think, out of the Wizard of Oz. Thank you so much for joining us again, david Knight, I go to take you to Tony at Wise Wolf Gold. Thank you, tony, appreciate it.
Speaker 2:Thank you, David.
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