Transcript
Coming Up, Recap of Part 1
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yeah I would argue the West has already lost its hegemony we haven't lost our Supremacy but the hegemony is gone the
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it or the bang is when everyone in a coordinated fashion realizes that what has been done slowly and methodically is
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inevitable and we need to get out of dollars now but the all at once moment
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when it becomes when the collective awareness of the world realizes this is a trend that is happening and that we
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are moving away from a country that is immeasurably indebted we will never pay
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this off we will either inflate we will default or we will find a villain and I think they've chosen what's behind door
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number three to find a villain to me the big picture is exactly what zolam posar says it's a system that's all about
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Commodities I think gold will outperform just about everyone's expectations because it will be the
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Cornerstone to inspiring trust in whatever new system arises if president
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Trump does win he has said that he would tackle this he has addressed this issue
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uh he has expressed strong opposition to countries moving away from the dollar he
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understands how important it is he has compared it to losing a revolutionary war can this be reversed do you
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see perhaps a conflict a war as a way of
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fighting back for this Reserve currency Reserve asset
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[Music] status on the SP spot with Michelle mcy
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is brought to you by Swan Bitcoin previously in part one of this interview
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in a major shift Saudi Arabia has let the Petro dollar agreement expire opting
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to sell oil in multiple currencies instead of exclusively using the US
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dollar the agreement of the past 50 years expired on June 9th now the so-called Petro Dollar Deal reportedly
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stipulated that Saudi Arabia would price its oil export exclusively in us dollarss and invest its Surplus oil
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revenues in US Treasury Bonds in exchange the US would provide Military
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Support and Protection to the kingdom this helped the US dollar cement its position as the world's Reserve currency
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and ushered in an era of American Prosperity so Saudi Arabia now looking
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to move Beyond an exclusive relationship with the US marks a significant change
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in global economic Dynamics and could have far-reaching implications for the US Dollar's dominance the the theory
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really would be that as those dollars are way more dollars outside the US than
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are inside the us because of the stockpiling to buy oil for for 50 years
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and as those dollars come home and and are sold back to the issuer because no
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one wants to hold them anymore now it hasn't turned out to a into a full-fledged dumping which I could see
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it turning into that at some point but there still is demand for the dollar as you mentioned still does represent 58%
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of of global reserves and there is dollar denominated debt that needs to be paid off but little by little by little
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I call it logarithmic Decay little by little by little by little it starts to chip away as those dollars are no longer
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there's no longer a necessity to hold them and as those dollars start to come home inflation rates would go higher and
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higher and higher and higher and heaven forbid it's a dumping there's something out there called project Sandman that
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basically say there's a whole group of 150 175 countries that have agreed to do
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just that to dump dollars and treasuries at a pre predetermined time the question
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is is it orderly or is it chaotic but as those dollars come home the level of inflation Rises as those currency units
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are added to the currency base here which would then raise interest rates and when that happens that's when you
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start to get into problems where as rates rise things that in this country that make people feel wealthy their
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stock Holdings their bond Holdings their real estate holdings and the money held in the bank are all inversely correlated
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to that moment and the overleveraging of the banks in particular is a real big
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problem here but if you think about it if this happened all at once if it was all at once it would be catastrophic
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they're putting it together and doing it the right way methodically regimented and when they say now uh it'll be a
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religious experience cuz that's when everyone that's when you would see the dumping a massive dumping yes it is a
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big deal regardless of what they are telling you about the Petro Dollar Deal being a nothing Burger it is not a
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nothing Burger so Andy you're saying regardless
Introduction: The End of Fiat Currency?
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the era of fiat currency is done and again Fiat means by decree Latin for by
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decree and essentially currencies you know backed by nothing what is the timeline and I always ask you this and
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it seems to accelerate every time we speak but you see you know what is the
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ultimate fate of the dollar that you're seeing here and under what timeline Play Play that out for
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us you know Michelle I I see things some
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things I've see have seen clearly none of it ever comes with a time frame in a
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world of probabilities um I think there's a high probability that this happens I don't
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know the time frame but it is accelerating tremendously um I wish I could answer
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that question it would be nothing but a guess you know here I'll show you I had a painting commission that says it all I
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don't know if you can see it see that little by little then all at once right
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that that is my take on things sorry that is my
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take on things it's going to be little by little than all at once that's logarithmic Decay you can see the logarithmic decay in in society in in in
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our finances the way the moral fabric of this country the way we are viewed around the world the loss of the Petro
The Inevitable Collapse
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dollar standard the deuri the weaponization all of these things are happening little by little by little by
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little bang when is that bang don't know but if you look I think people know that
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there's something wrong and even if you can't articulate it you know something's wrong and I don't know how fast before
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it breaks but I can tell you that you don't wait for it to break you don't
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wait for your house to be on fire to pay your your your home insurance premium and you you don't wait until you're on
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death store to do your life insurance and it's one of these deals where I think you take a look at all of the
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facts and and and weigh them and say that this is a trend that appears to be
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gaining Steam and I mean look the few times that we've spoken everything we've talked about seems to be happening and
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accelerating I'm not a soothsayer this is the only thing in my career that I've seen clearly and it freaks me out
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because I had the courage in 2019 and 2020 and ever since in 3,000 YouTube
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videos say this and and it's documented and it's happening and it scares me it does because I it scares me how fast
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it's happening and I don't see the time when I think about it and I don't see what happens after it happens it's
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really what is the it Andy just just articulate as clearly as you can the it
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the bang what does that mean what does that mean for Americans the it or the bang is when everyone in a coordinated
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fashion realizes that what has been done slowly and methodically is inevitable and we need to get out of dollars now
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and when you realize that everything in this country that makes people people feel wealthy is inversely correlated to
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a spike in interest rates and and it allows us to have a villain that villain
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is Xi jingping and Putin and OPEC how could they do it to us that all at once moment which starts out where the
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Insiders know what's happening and that's why you see this little by little by little part that that's the PE that's
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where the people blow it off as as inconsequential in a nothing burger and it will never happen could never happen
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here right look at all the things that have happened in the last three years that could never happen here well these people because of its slow methodical uh
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Pace this little by little they could never think it could happen here and they blow it off and poo poo it but the
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all at once moment when it becomes when the collective awareness of the world
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realizes this is a trend that is happening and that we are moving away from a country that is immeasurably
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indebted over 200 million a trillion trillion a trillion seconds ago was
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3,688 years ago we will never pay this off we will either inflate we will default or we will find a villain and I
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think they've chosen what's behind door number three to find a villain to incentivize and we've talked about Jared
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Bernstein before a man the lead economic adviser this knucklehead who's he's the
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lead guy who's just talking into Biden here telling him what to do he wants to lose the reserve status well what better
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way to do it than to weaponize the dollar and and go sign an executive order to go green allow the Coalition of
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all these countries to to find safety and numbers and then let the country fall apart back at home when you talk
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about the realization that this is real and people then go from wow it's not a
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nothing burger and run that's when it becomes real I don't know when that is when is the collective realization could
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be next week could be 3 years from now I don't know but the inevitability of it to me is that we are watching a shift of
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of natural resources and of power move from the West to the East and at some
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point that will become I think um evident to the masses when that happens
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that's the it and that's when it happens just like that's the all at once when you go over the waterfall I I appreciate
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that interactive camera work there by the way Andy showing us your artwork and an insight into your office and again a
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reminder to our viewers Jared Bernstein the chairman of President Biden's Council of economic advisors uh and he
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penned an oped in the New York Times back in 2014 titled Dethrone King doah
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and in it Bernstein wrote that new research reveals that was once a privilege is now a burden and to get the
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American economy back on track the government mean needs to drop its commitment to maintaining the Dollar's
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Reserve currency status and then back in 2018 Bernstein wrote another oped in the
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Washington Post stating that if one consequence of the Trump era is that the dollar loses some degree of its Reserve
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status I will consider that a good thing so you know people within the Biden
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Administration saying that they want this sort of leads to one of the
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arguments you've made before um where you say that this is perhaps you know by
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Design not even an accident yeah I think it's too stupid to be stupid I do I mean
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you can't make it up and and that's why I want people to spend a few minutes researching the cloward Piven Theory
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because guess what Jared Bernstein as as did President Obama both went to
U.S. Government
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Columbia University where cloward and Piven a husband and wife um uh they were
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husband and wife uh professors they they present a plan to overwhelm the system
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with government spending and entitlement programs let me just read you three or four tenants of it one it's as if they
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are purposely overwhelming the US economy to create systemic failure destroying capitalism and our country
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from within cloward and Piven specifically mentioned targeting America's largest cities for their col
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colossal welfare push the primary objective of the strategy is to create chaos with the hopes of destroying
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America's capitalistic economy and replacing it with a socialist system that includes guaranteed incomes a
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massive drive to recruit the poor onto the welfare roles the point of surging welfare claims is to enroll as many many
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individuals as it takes to send the United States into an economic crisis we'll think of 17 million people in here
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cloward and Piven reveal the best way to achieve their goals is to create a new loyal voting block out of the rapidly
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increasing number of welfare recipients by delivering millions of dollars in cash benefits to the masses expecting
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the masses will deliver their loyalty to their benefactors develop an army of loyal surfs who will work to destroy
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America whether knowingly or unknowingly all these illegal immigrant children will be added to the welfare roles and
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can be counted on to vote for larger government furthermore both cloward and Piven agreed that the mainstream media
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would play a critical role in their organized attack against America to quote cloward and Piven as the crisis
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developments develops it will be important to use the mass media to inform the broader liberal Community about the inefficiencies and injustices
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of welfare now think about all of this stuff and ask yourself is it possible
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that this is what they are actually trying to do I mean Obama went there a
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as did as did uh let's see Bill bar Eric Holder mine Albright Jared Bernstein
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they all went there in the 60s and cloward and Piven were teaching now I
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don't know if they they learned from them or after them but this was a tenant that was taught at Colombia now I mean
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fine line between conspiracy and reality but when you read that and think about it they are overwhelming the inner
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cities they are overwhelming the the entitlement system they are the left leaning media doesn't do a bad job they
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do no job of telling us what's going on except create divisiveness and all of this stuff you can't make it up is it
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too stupid to be stupid did we really let all these people into our country is our electoral system Fair do people go
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up to bed at night after the the the votes start getting tabulate tabulated in November and wonder are they going to
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wake up to something different is the justice system deploying um equally the
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Justice equally or is there two tiered all of these things you start to wonder and then look at what's happening to the
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inner cities and and ask yourself is it too stupid to be stupid or is it not
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could it be planned is this the foundation to incentivize the world like
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via the operation sammen dump the dollars in the treasuries create a massive surge of inflation interest
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rates Spike to the moon and everything resets dollars uh the banks the
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insurance companies the stock market the bond market everything but have no fear because guess who's here L brainer the
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number two at the US government for economic policy she worked at the treasury she worked under Powell at the
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fed and if if somehow this current Administration um keeps power she will
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lead the fed and she was number two under Powell and she is a modern monetary theorist she developed the cbdc
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while at the FED with MIT she ran point for fed now which came out six months ago which is venmo on steroids backed by
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the fed this is what she wants calling of all the banks a central bank issued
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digital currency print print print start over and the interesting thing Michelle that I don't think we've talked about is
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look at the the unfunded liabilities Medicare Medicaid Social Security government military pensions who's that owed to that's us how about all the
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treasuries who's been selling them oh yeah that's all them who's been buying them oh yeah that's all us the hedge
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funds money markets mutual funds and every one of us chasing yield leaving the banks buying treasuries so it's a
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whole hell of a lot easier to default on us where only I don't know 20 25% of the
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debt is owed to them it's all owed to us we are so sorry this happened Michelle just sign on the dotted line we know you
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lost everything take the cbdc we'll make you whole and this is all about pride
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and and nationalism and patriotism because they did this to us so when you talk about do we fall on the sword and
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default do we inflate which leads to default or do we just find a villain and
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that's why when I'm giving a a talk next month at um Rick ru's conference here in
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Boke I was bummed to hear you won't be there but um I know your company will be
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there but you won't the title of my first speech was going to be it's too stupid to be stupid but now it's
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something a little bit more political I just it's the same thing could we really be that foolish to think all of these
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things that we've done around the globe and at home are are won't have consequences or or are are the people
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not that stupid and really realizing this is how you you you get to option three and that is to find a villain that
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will be make people universally accept a cbdc when the dollar gets forsaken now I
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don't know if that happens or not everything I said up until that point is factual but I guess you just have to let
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your mind wander a little bit everything the that you've said uh you know has
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played out and you know our viewers know that nothing keeps me up at night more than woring about a central bank digital
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currency a reminded to our viewers a form of Fiat issued by a country Central Bank uh which is on the blockchain so or
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some kind of blockchain so there's no privacy there's no anonymity that's completely obliterated and most
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problematic is that it's programmable meaning they can decide when that currency works or doesn't work and and
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they decide what transactions will be allowed and it could also like fine-tune monetary policy and just sort of inject
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money back into the system or suck money out of the system with with a c about that you're right that's one of the
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tenants of it but that's why you have to have an event that make people who are smart like you and the people who listen
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to you be willing to take it because if I were betting man I'd say you'd never take it if you had your choice have no
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choice right Wipe Out the system and then say well you can't use this anymore but here here's your digital wallet with
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a cbdc and you have no choice but to do that I want to focus on perhaps what
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could derail this and you mentioned the elections uh president Trump has been very vocal against a cbdc for one thing
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um some have also argued that this would not have happened under President Trump although arguably the debt issue long
Potential Solutions and Political Implications
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precedes the Trump Administration but some would say that part of the weakness of the Biden Administration you know
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coupled with a relationship with the Saudis coupled with the Afghanistan withdrawal you know sort of accelerated
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this whole process the question though is you know can this be reversed if
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Trump somehow wins the election and many have questioned the Integrity of that
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process and of our justice system as you've just kind of touched on but we won't unpack that in too much detail but
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let's just say if president Trump does win he has said that he would tackle
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this he has addressed this issue uh he has expressed strong opposition to countries moving away from the dollar he
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understands how important it is he has compared it to losing Revolutionary War in fact uh in March he told CNBC that he
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would just not allow countries to go off the dollar because losing that standard would be like losing a revolutionary war
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that will be a major hit to the US let's quickly play that uh Trump sound bite from then and get your thoughts on the
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other side I hate when countries go off the dollar I would not allow countries
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to go off the dollar because when we lose that standard that will be like
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losing a revolution AR war that will be that will be a hit to our country just
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like losing a war and we can't let that happen and too many countries now are
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fighting to get off the dollar so Andy president Trump gets the picture that you're painting he gets that this is
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really going to hurt the American economy America's standing on the world stage and Americans living daytoday
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trying to pay for the grocery blls that's going to become a heck of a lot worse let's assume somehow
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president Trump wins the election right is there anything that can be done at
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this stage even if that means going to war what what can be done he is a smart
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man and and he say what you want about his sometimes
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buffoonery uh the way he would speak I would take his policies any day over the
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current Administration and and God help us if he doesn't win it would be just be my personal decision um or opinion but I
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I don't like here again the continuation of sanctions and threats and you know
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he's talking about sanctioning countries who would who would join the bricks or would not use the dollar and he's
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talking about a massive devaluation of the dollar you know choosing inflation lowering rates and inflating and
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devaluing the dollar what that just means it's easier to pay off our mountain of debt he may keep the ball up
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in the air a little bit longer and he may Inspire concern and fear by some of our foes who are not afraid at all all
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of the current Administration and he may make things better I don't know if we've crossed that Rubicon Michelle part of me
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feels like we have and I wish I wasn't so concerned about you know the fairness
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of the election process um and and indeed if we will wake up again to
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another questioning of the electoral system either way you look at it let's
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just say he wins I say we have a better chance of pulling out of this nose dive look Americans have done the best with
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Back Against The Wall the one thing that we need that that I don't know that either candidate is capable of doing is
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inspiring unity in this country we need to be United in order to pull ourselves up we need to all be Americans
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regardless of where we've come from uh and the Biden Administration has done an amazing job at fostering um a lack of
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unity and resentment and at least in my opinion so can he fix it look if he goes
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around the world imposing sanctions again and all of these kinds of things that we've been doing for a very long
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time I would say the chances are no um but if if if we can go around the world
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and do things in a more Cooperative fashion and show the value of the American Spirit and American Ingenuity
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and and it' be great to have some American manufacturing and all of these things that once made this country the
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beacon of of uh of everything Liberty Justice Freedom all of the things that
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that I talked about that seem to be kind of fading away then no so I guess we'll have to see but
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I will tell you that we have zero chance if the Democratic party stays in off in office and a better chance of of at
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least pulling out of this no nose dive if Trump wins but even his policy of massive dollar devel devaluation and of
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um uh weaponization or again sanctions if people do leave us well they're
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leaving you for a reason and instead of sanctioning them and locking the door and and going to bed without dinner you
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might as well find an incentive and show how we can benefit one another by staying together and that's something
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that I hope is not you know a a ideal an ideal from an era gone by I don't know I
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I really don't I can't answer that but to say we have a much better chance if he wins that's for sure but but okay so
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you know you've got onshoring production which has been uh a trump Administration
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policy arguably we've even seen the Biden ad Administration sort of catch one to this right now and I get your
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point that some in the Biden Administration want this have spoken that this is what they want to do and
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it's easier to find a villain but even within the Biden Administration even within the old school establishment you
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would have to say that there are some that do not want to lose this privilege of being the global Reserve currency
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right that not everybody wants to have this great reset and that there are
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people within the American uh government Republican or Democrat
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that for the power that it represents would still like to keep the Dollar on
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top that sure as hell like to hope so yeah I would but but so so what so the option is right but we still have a
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problem as we've said um that is accelerating and that we've got this debt that just servicing this debt is is
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costing the What annual defense budget if not more at this point the expression is when all else fails they take you to
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war right and if we remember how the dollar got uh the status it was after World War II Breton Woods one was after
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the US help the Allies win the war we're currently seeing you know proxy wars
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happening around the world Russia Ukraine being one of them do you
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see perhaps a conflict a war as a way of
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fighting back for this Reserve currency Reserve asset status for those
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Republican uh or or democrat that don't want this could that be a way to
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reassert American dominance and again certainly not rooting for a war but could that be a way I would sure hell I
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would sure as hell hope not and here again when you talk that could change it though I mean couldn't that change that
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if you have some massive war and and and the US comes out on top and then everybody starts to fear America again
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and they they rethink this again assuming the US comes out on top and and and who knows then they kind of go well
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you know better get back on team dollar well let me put it to this way I have a friend that I play golf with who is
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friends with President Trump and plays golf with them once a month and and we talked about it just the other day and
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and he said that these countries feared him and he he said they respected but
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more more they they feared him they feared what he would do and you know he
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he would tell me stories about what he would say to president Chi if he invaded Taiwan and and the things he would say
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to North Korea to to Kim and again this is all I'm hearing this you know third
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party but yeah maybe I mean again yes I think it's a it's it's what is needed
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for sure uh we need to have strength we need to show that you know I think we need to go back to the American ideals
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and that's you know and and that that's also part of the deal but yes I think we have a better chance if if Trump is in
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the White House to to Forstall these things but God help us if we get into a hot war with you know a country like
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China or a country like uh Russia you know I live in in in Southern Florida here and there are nuclear powerered
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right submarines Russian submarines 60 miles away from me is that something I take comfort in hell but but but Andy
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what if uh Russia loses a swore you know because even the Biden Administration has become more aggressive in funding
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the conflict and we can get into how this conflict started in the first place and whether the Biden Administration
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provoked Putin into that that's again a whole other conversation we don't have time for right now but let's assume
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Russia loses this war somehow right it really starts to amp up and there's more
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of a Western Alliance here does does that make this process uh slow down
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reconsider because as we said Putin has been one of the biggest players in pushing the dollarization trend in
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calling for a new system should Putin get taken out Russia loses the war does
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that change the equation you know you had all of the bricks just refused to sign this
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agreement about you know trying to end the war and and because Russia wasn't at the table you have half of these these
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the Southern Hemisphere or those aligned with the bricks who are on the side of Russia in this deal and and if they lose
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the war it will be because either NATO or the United States ramped up their their um interest in this which can all
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lead to a very dark place Michelle I don't even want to think about going into a War World War III with with you
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know with high-tech Weaponry the way that it is and and Hypersonic missiles and and all of these things let's just
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really hope for the best and hope that doesn't happen but yeah I mean that's what they've done no question about it
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um and and we're more guilty of that than anyone and so could it happen sure it could will it happen let's hope not
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let's you know let's hope that there's some decorum what should be more frightening is letting 17 million people
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into this country many of which are unvetted who have ties to terrorist
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organizations who think they're a martyr by doing awful things and they don't worry about Mutual Annihilation and
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that's a bigger threat to me is what happens to I mean have we been invaded are there terrorist cells here the FBI
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seems to think so and again 5% of 17 million well that's that's a lot you
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know you're 8 900,000 people that's a lot of damage to me that's the real threat you know I just read an article
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and and and they'll they'll admit to this that every single day these these Navy installations and military
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installations are being you you have all these Chinese Nationals I just read it in mainstream article last night that
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they they have to turn away these Chinese Nationals who are who are going and taking pictures of military
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installations even in very rural areas and say their sight so I mean could it be could there be a
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could there be a 1% chance that some of these people are not here for the right reasons I don't know I think you could
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do a lot of damage to this country without getting into a hot War just by simply letting these people in who have
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want to have their way with this country and could do an awful lot of damage do we get into a hot work God help us if we
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do I hope not I mean I I haven't put a lot of thought into that simply to think that that you know one wants to see
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their grandkids grow up you know and they're I mean let's hope that that doesn't happen but the you know these
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fundamentalists who who think they're they're they're going they're being a martyr by doing these horrible things
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you have to ask yourself you know is it really wise to have an open border and let these people in when we are as
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polarizing as we are that to me is more of a pressing issue again I'm just seeing what could
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potentially derail this playing out and and very quickly Andy I know we've touched on this before but the other
30:28
issue that could potentially uh prevent the bricks from this coordinated you
30:35
know operation Sandman or even the the gradual cooperation to dump the dollar
30:41
is Discord within the bricks right that maybe the more members you have the harder it is to get agreement uh that
30:47
between you know China and India there's already some Discord when it comes to coming up with some common currency
30:54
we've got Iran and Saudi Arabia in the bricks and despite some recent superficial agreements they have a
31:02
longstanding hostility and basically the idea is you know there isn't that much of an
31:09
alliance between all these members maybe they they've tried to do things before in the past that's failed can they get
31:15
it right if they're not all on the same page and they may all be jostling for superiority within this organization so
31:23
as as a counter to the bricks are so United and will be able to get agreement
31:29
what do you say to that I think these are all good points and possibilities my enemy's friend is my you know my enemy's
31:35
enemy is my friend yeah type of thing it plays out yeah I mean sure all of these are are valid points the progression
31:43
still continues where 59 countries want to join now at some point it has to be taken for real but yeah I mean this is
31:50
not this is a big deal this is a once in a generation shift and either we find a
31:55
way to inspire confidence and and reunite Unity um and and pull up for
32:01
this from this nose dive or we don't I guess only time will tell I but I think
32:06
to ignore what has already happened is a mistake and and I think for people to say yeah these countries don't like or
32:13
trust each other but what's the alternative do they like and trust us so
32:18
what's the lesser of two evils I don't know but Michelle all I can tell you is that for the first time in in I don't
32:26
know how many years for the first time in in at least in 50 60 70 years there
32:32
seems to be a challenger that's coming up in the ranks and is it going to be
32:38
legitimate will they have all it takes to to challenge the the West we'll see I would argue the West has already lost
32:44
its hemony we haven't lost our Supremacy but the hegemony is gone now we'll see what happens with the supremacy but to
32:51
to not prepare for it to not even have it on your radar screen as some of these
32:56
chief financial analyst have is is just as big of a mistake as you know as as
33:01
going all in on the bricks I think you have to legitimize it hope it doesn't materialize to the detriment of this C
33:08
country but but understand that it has the possibility to greatly upset the apple cart should it begin or continue
33:15
to accentuate right okay so as we start a wrap up here Andy let's bring it back
33:20
to two assets and we'll start off with gold because obviously this all hinges
The Role of Gold and Bitcoin
33:26
quite dramatically on gold as we've discussed uh again every time you spoke you have correctly said that gold is
33:32
going to continue to make new record highs it has done so since we last spoke it did hit another record high this year
33:39
what's your outlook on gold going um into the end of 2024 and and perhaps any kind of time
33:46
Horizon that you feel comfortable with yeah I would I would tell you that
33:51
there's a very high probability that by the end of 2024 it's much higher uh I
33:57
will continue to make new highs yeah gold will in in terms of dollar highs
34:03
and look I think it will go higher than anyone thinks possible I'll put it to that way and in particular if it will be
34:10
pegged to a new system whether it be bricks or west it will have to be much much higher it's funny if you look at
34:16
all of the central banks and their their balance sheets gold is held in an account by the name of the gold
34:22
revaluation account and you got you know you got the the the Finance Minister or
34:27
the the head of the Dutch National Bank who said we should revalue gold to get our balance sheet in order that's what
34:33
that's what uh um is happened here in the United States before uh you know
34:38
right over my shoulder and and would it happen again I don't know but I do believe the only thing that I can tell
34:45
you out of 34 years in finance is that markets go higher to the upside than anyone ever thinks possible and fall to
34:51
the downside more than anyone thinks possible I think gold will outperform just about everyone's expectations
34:58
because it will be the Cornerstone to inspiring trust in whatever new system
35:03
arises so higher than anyone thinks possible what is the time frame don't know I don't see things in a shortterm
35:12
prism I only look at the inevitability or the big picture and to me the big picture is exactly what zolam posar says
35:19
it's a system that's all about Commodities and they're because of the distortion on the exchanges that can reh
35:25
hypothecate and sell over and over over and over and over again the same amount of contracts we really don't even know
35:31
what the real price of gold and silver should be but it's a lot higher than it is right now I know that and and I would
35:37
bet that the next time we talk it will be markedly higher than it is today so
35:42
Andy many see the same scenario the same concerns the same things playing out in
35:47
the world stage as you do and have articulated it that way but they see
35:53
Bitcoin as the solution or part of the solution they see Bitcoin as the reserve
36:00
asset the the digital gold truly decentralized truly limited Supply or as
36:07
part of this basket of Commodities that um the the new block currency by the
36:13
bricks and others would you know be pecked to where do you see Bitcoin in
36:18
all of this not as not as any type of Reserve asset because you will you'll
36:24
never get the people in charge to allow a descent centralized platform you know
36:29
to be the central bank will not Embrace a decentralized platform I'm not a Bitcoin hater I've been buying it I had
36:37
I had um some interesting discussions with Mark moss and Natalie Bernell uh in
36:42
Vancouver last year and they opened my eyes to you know dipping my toe into the water and I
36:50
have been every few weeks I've been adding a little bit of Bitcoin and I think it's something where these two
36:55
camps should be United and not divide it should not be adversarial we we all see the same thing and that is problems with
37:02
the system the difference is it seems to me the Bitcoin Community is more inclined to make profits whereas the
37:08
gold Community is more inclined to keep those profits that's why there's such a a a
37:15
beneficial uh Union between the two where you know it's they're complimentary to one another but I do
37:21
not see it as playing the role of of any any central bank system I don't see that
37:27
at at all but I do think it has validity to it and I think it does have lasting
37:32
sticking power if you will but in my heart I am I I want to be able to touch
37:37
it and hold it and feel it but I don't want to go through life saying damn it I knew I should have done that and why didn't I do it it was right there in
37:44
front of me I missed enough of its run already so that I'm okay just adding a
37:50
little bit but um I don't see it look all the central banks of the world own gold they don't all own Bitcoin I think
37:56
it is an interesting proposition but not one that I think will be part of any global system but it could very well
38:03
have very lasting power as as an asset and um one that that has still probably
38:09
has great potential but I don't think that the governments will embrace it not embrace it again as part of this basket
38:17
I I get not embrace it as the reserve asset but if they're going for this B yeah why not I mean the Finance Minister
38:25
glev said it will be a basket of commodi now I do believe it's it's viewed as
38:30
personal property by by uh the Fed so I mean is that a commodity I'm not sure
38:36
but I could see it as part of part of an asset class or or part of a basket of
38:42
things that have a mutability and veracity and that's exactly what it has a mutab mutability and veracity the one
38:49
piece to it is the decentralization and I don't know how that plays out but I I
38:54
could see that um I guess have to see it wouldn't surprise me that if it were
39:00
added to a small degree to a basket of those assets or Commodities that back a
39:06
new system anything that will inspire uh confidence and you know you talk to to
39:12
guys like Mark Mosser or Natalie Brunell they'll they'll give you a million reasons why it should Inspire um
39:19
confidence and enough pushed me enough in the direction where I actually have gone out and been buying it and adding
39:24
it I've been buying gold and silver every two weeks for 34 years I told you long ago that was the promise I made my
39:30
dad when we started this company in 1989 but I've been adding since February of
39:35
this year a little bit of Bitcoin every two weeks so I don't have to punch myself in the ear somewhere down the
39:41
road saying why was I so you know pigheaded and and married to my own ideology so I'm open-minded enough
39:48
remember my parents were hippies growing up and so I'm okay I'm open-minded to everything lifestyle or or differences
39:55
of opinions and that's one of the things that's missing in this country is we all have no time to listen to anyone else's
40:01
opinion and I thank Mark and Natalie for taking me to lunch and opening my eyes and if we never listen to other opinions
40:08
we don't grow and we learn more and more about less and less till we know everything about nothing do I think
40:13
Bitcoin will replace gold hell no but I do think that it it has a role and and a
40:18
fair one in where in in where we are right now so yeah maybe a small piece
40:24
anyway to your to your point well you know we always appreciate your opinion Mark Moss Natalie Bernell they've both
40:30
been on Kitco news and we always love hearing from them Andy final thoughts
40:35
because we love hearing from our viewers we read the comments and some of the
40:41
push back against you is like well he's just talking his book he likes to generate fear he's selling quote unquote
Final Thoughts
40:48
fear porn because Andy is just talking his book because you ultimately sell gold and silver so as a final thought
40:56
what do you say to those let be honest if you let me be honest on that one and as poignant as it is people who have
41:02
said that have never owned a business people have said that have never worked their ass off to do something and build
41:08
something from scratch and are so cynical that they think that being a good human being and trying to help your
41:16
you know your fellow man and woman looking yourself in the mirror every night you know when you meet your maker
41:22
someday and you know what the hell did you do to help this world they think that has to be mutually exclusive from
41:28
running a business and you know my business has generated 10 billion in sales I'm doing just fine I don't need
41:35
to be on these podcasts where I expose myself and my family to that type of
41:41
stuff and luckily I don't get that much of it but that is always the common well if he likes it so much why is he selling
41:48
it I mean duh like I mean it's it's just some of the questions are so dumb but the point of it is is that no one asked
41:55
me that question you know when I started this company from scratch before the internet and I built this
42:02
business for for 34 years and never had a customer complaint by doing what
42:08
you're supposed to do in this country build a good business use the the the the laws of capitalism and good
42:15
intentions to to build a good business and when people say that it aggravates
42:20
me to no one because no I'm not talking my book and it does not have to be mutually exclusive of one another a good
42:27
business and doing the right thing and for those people who say that they'll never believe me that that's my
42:34
intention but I promise you as God is my witness that is my intention I feel like
42:39
I'm contributing a little bit to to the world and if that means I get out here
42:46
and you know how much I know you know how much prep work goes into speaking to
42:51
Someone Like You for an hour it ain't easy and you have to be prepared and you have to study and you have to research
42:57
and you have to be coherent at least a little bit anyway and I I feel that this
43:03
is it makes me happy to know that I'm trying and I see my kids see how hard I
43:09
work and how much passion I have in it I've been buying gold and silver every two weeks for 34 years that's how much I
43:15
believe in it and so no Michelle um I'm not talking my book and running a
43:20
business for you'll never hear that from a business owner and running a business and trying to do right by people do do
43:27
not have to be mutually exclusive and that is the sadness of how cynical this world has become where people feel that
43:33
way so to their point I get it I understand it but it's not me and I wish
43:39
that the world was less cynical and more understanding and actually think that people are are meant to do good things
43:45
and be more cynical of people who were doing not doing good things but anyways
43:50
that's I'll I'll let that go just simply saying I love what I do and I try to do right and that's why in 10 billion in
43:55
sales we've never had a customer complaint ever I've pissed people off but I've made right by it and I would
44:01
never I would never get on a channel and try and say things just to ring the cash
44:06
register that would be exposed and defrauded just like that well I certainly appreciate your contribution
44:13
and can certainly appreciate and acknowledge the fact that you're just trying to do right by everyone so Andy
44:20
it's true again thank you for doing right by me I know I take a lot of your time and I know I like to push back on
44:25
you just to challenge the thesis but it's always a pleasure chatting with you even though told you I'm sorry I was
44:32
going to say even though what you say h tends to scare me as it comes to fruition but it's it's always a pleasure
44:38
getting your insights Andy it scares me and I've told you I've told you this three times I'll tell you again you're you're the best in the business I've
44:44
never met anyone or been interviewed by anyone who ask the right questions and pushes back politely and makes me think
44:51
and and I've watched other interviews you you've done with other people and I admire that that shows that you're
44:57
prepared and you understand and you've done your work in your due diligence and I it's my honor to be here and you make
45:02
me better and you make me think and and I would be honored to come back anytime
45:07
so thank you very much for your kind words and uh I follow you from afar so
45:13
um just know I'm a phone call away or a text away anytime you want me back I'm happy to come back and uh I think
45:19
there's going to be a lot of stuff that happens between now and the end of the year so hopefully between now and then we'll have a chance to chat but in the
45:26
meantime I hope you and everyone else out there stays well and uh look forward to picking up where we left off
45:31
hopefully not too far down the road right well we'll end on that note of mutual adittion I not to our views by
45:37
the way that one of Andy's interviews is the top performing video on KidCo news
45:43
where we first laid out this whole thesis and we'll be sure to drop a link to that interview in the description of
45:48
this video Andy thank you so much appreciate it as always you're the greatest Michelle thank you and you stay
45:53
well okay thank you Andy sheekman and again we wrap up your full disclosure I
45:58
do own both gold and Bitcoin and on that note I do want to say a special thanks to our sponsors Swan Bitcoin and a
46:06
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46:33
check that out as always thank you again for checking out this video if you're watching us on YouTube make sure to
46:39
subscribe and as I just mentioned we love to get your comments we do read them so feel free to praise wine or
46:46
justto pine we'll see you next time from me Michelle mcor and the rest of the Kito team on the spot with Michelle mcy
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