Summary
âž¡ The text discusses the need for a financial reset due to the significant challenges and potential pain it may cause, such as depression or worse. It highlights the uncertainty of the process and the potential for power shifts, with the goal being a better, more equitable system. The text also mentions the potential for market volatility, loss of trust, currency devaluation, savings erosion, bank failures, and loss of creditworthiness. It emphasizes the importance of managing the process carefully, transparently, and equitably to minimize pain and foster recovery.
âž¡ The rich are getting richer, causing frustration among those struggling to make ends meet. This could lead to the rise of a central bank digital currency, which could distribute money more fairly. However, the rise of artificial intelligence (AI) and automation is eliminating jobs, which could lead to the implementation of a universal basic income. This could disincentivize hard work and creativity, so it’s important for young people to learn trades and skills that can’t be replaced by AI.
âž¡ The text discusses the importance of revaluing trade jobs and the need for unity in America. It also debates the impact of tariffs and the need to bring back manufacturing to the U.S., despite the potential for a depression and increased costs. The text suggests that enduring this hardship could lead to long-term prosperity and security, especially in critical sectors like pharmaceuticals and green technology. However, it acknowledges that this process would take time and cause significant short-term pain.
âž¡ The speaker discusses the current state of the U.S. under the Biden administration, expressing concern about the country’s future. They discuss the idea of a gold-backed currency as a solution to economic issues, arguing that it would force fiscal responsibility. They mention various individuals who support this idea, including Judy Shelton and Scott Bassett. The speaker also discusses the potential for revaluing gold to pay down debt and invest in Bitcoin, and the implications this could have on inflation and the economy.
âž¡ The text discusses the potential revaluation of gold and its impact on global economies. It suggests that if the U.S. treasury were to pay a high price for gold from other governments, it could benefit countries that have been accumulating gold, like China, India, and Russia. The text also discusses the value of silver, suggesting it’s undervalued and essential for high-tech and military uses. It ends by highlighting that countries like China, Russia, and India are actively acquiring silver, indicating a potential increase in its value.
âž¡ The speaker believes that silver is a highly undervalued asset and that its price should be much higher. They discuss how banks have manipulated the price of silver and gold, using events like Trump’s victory to drive prices down and cover their losses. The speaker also warns of potential economic difficulties ahead, possibly leading to stagflation or hyper-stagflation. They encourage listeners to be smart and support the process of rebuilding the country, and they offer their services for purchasing gold and silver at competitive prices.
Transcript
Yeah, I know it is. And you hear people like Elon Musk talking about that and this isn’t, they’re talking about AI is spurring AI. They’re using that as an excuse. But I tell you, the last four decades, automation has been removing jobs, right? Experience the groundbreaking advancements of Leela’s quantum technology. Now backed by over 40 placebo controlled studies conducted by elite institutions and renowned universities worldwide. This revolutionary technology surpasses previous achievements as confirmed by prestigious organizations such as the Emoto Institute in Japan. Scientific investigations reveal that Leela’s technology not only enhances blood health and circulation, but also neutralizes the adverse effects of electromagnetic fields, expedites wound healing and elevates ATP production on human cells.
Embrace the extraordinary benefits of Leland’s tech as recognized and utilized by world class athletes, esteemed functional medicine practitioners and leading figures in the field of biohacking. Explore a range of transformative products from the Heal capsule shielding you from harmful EMFs to the quantum block allowing you to infuse frequencies into your cherished possessions. Dive into the realm of innovation and wellness@sarahwestall.com shop or by following the link below. Welcome to business Game Changers. I’m Sarah Westall. I have Andy Schectman coming back. We’re going to talk about monetary policy and we’re going to talk about issues you probably haven’t heard elsewhere.
I’m going to keep pushing the envelope on what we discuss and where things are going. He brings the idea up of is it possible for gold to go over 100,000 and why that could be possible to pay down debt. The whole thing we talk about, we talk about silver being possibly the best investment undervalued asset ever and any shows graphs and why that is. And then we talk about monetary policy in a way that I think you need to hear and listen to and understand how and why things are going in the directions that they’re going.
But before I get into this, I did a show on this little router device called the Love Pod. And I what’s more important than even this device which I love this device because it’s the first in the world of its kind and these people are geniuses behind this. But I’ve been saying for a while that the frequencies, the EMF frequencies that we’re using that is so damaging to our bodies. We don’t have to use frequencies that hurt us. They have figured out how to take the incoming frequency and change it, recalibrate it to a frequency that works with our body.
It just means that, you know, in the world I have people who are confused on this and put. That’s why I want to talk about it. In the world we are EMF pollution. And it’s like being in a room where you got things that are rotting and bad for you, your body. And you need to clean it up so when you walk in the room it doesn’t hurt you. You don’t have things solution around you. It’s the same with emf. You want those frequencies that hurt your body, that destabilizes your cells. Humanity needs to stop using those frequenc frequencies and we need to use frequencies that harmonize with us, meaning it doesn’t hurt our bodies.
But beyond that, this also works as a satellite. You take this, you can turn nine of your devices into a satellite device if the grid goes down. And then it’s a mesh distributed network. The more of these suckers that get out there it can start using. These can be towers in and of themselves and it can be faster. Faster than what? Actually you can see today and a lot cheaper. But in the meantime it just uses the network that’s around us. If it’s not that hard to understand once you start digging into this, this is only 200 plus.
You can get a data package that sits there or is ongoing. This makes an excellent Christmas present. I hope you look into it because this is where humanity needs to go, this tech we need to do. And I love it because the more people get something like this, the more it sends a signal to the world that this is possible. We can clean up our EMF pollution. Okay. With that being said, if you are interested in this, there’s a link below where you can get the love putt or learn more about it. They have a deal going on for the holidays where you can save $10, so look for that as well.
It’s holiday 10, I think. And if you are interested in Getting gold and silver from Andy, make sure that you email them@infoilesfranklin.com tell them that Sarah sent you. And I got to tell you, what is posted online is not what people can get if you contact them. Especially for larger purchases. You do not want to pay those premiums. Costco was selling things for much more expensive, 10, even $500 more an ounce than what you can get from Andy if you access his private price list. If you’re buying gold or silver in volume, the last thing you want to do is buy it online.
You also want to pay particular attention to who you’re buying it for because they are going to gouge you and that you might not be getting the kind of quality and the investment grade that you’re looking for. So I really highly recommend that you email them and you go about it in a more sophisticated way by getting his price list and communicating with them. Again, infomilesfranklin.com tell them that Sarah sent you and they’ll make sure because I record this that they share your, their private price list with all of my listeners. Okay, let’s get into this fantastic discussion with my friend Andy Schectman.
Hi, Andy. Welcome back to the program. Sarah, it’s so good to be with you. Happy Thanksgiving. Yeah, you too. We’re going to air this a little bit after Thanksgiving so that more people will be able to watch it. But I’m, I am excited because I’m actually taking some time off for once. I haven’t taken time off in so long. I mean, I don’t. What’s time off? Yeah, I know. That’s how I feel. So I’m finally doing it and I need to. But okay. So I’m going to be speaking at Fetzer’s False Flags conference coming up. I think it’s December 14th.
It’s Sunday. I think that’s the 14th of December. And I’m going to be speaking. I know this is way over the top, but I’m doing it anyways on the most important issues facing mankind right now. Right. I know that’s a little pretentious, but from my perspective, and I’m taking off the table one of those, I’m going to say the top three. And I had to add one of them, which is just imminent doom kind of stuff. And I’m just taking it off the table. So I have two left. And as I see it right now, facing mankind that we really have to deal with are two issues.
And you could say there’s this alien thing too. I don’t know. That’s another issue that I’m taking off the table. But the two issues facing mankind that are the most important is this control grid, which I did a whole 10 part series on fifth generation warfare, mind control, and it’s all tied up into CBDC’s track and trace. That and targeting people, that’s very important. The other one has to do with you and what you’re talking about, and that’s the monetary reset because it’s going to change the geopolitical power in the world back. You know, we’re talking 2,000 years of, you know, juggling and we could.
That’s the kind of chessboard that we’re talking about right now of how much of a seismic change it could be. And, and so what I want to talk about today, do you agree with that? I mean, do you agree that this could be a game changer that we haven’t seen in a thousand years? Of course. I mean, any monetary reset, I mean, just the concept of a reset is not something that is as simple as hitting the reset button, if you will, on your video game console. It’s a system that must be turned upside down and the consequences dealt with.
Ultimately it would inspire optimism and hope, a new system, you know, a foundation that is built upon the proper ideals. But in order to get to that, I guess it’s like the Shawshank Redemption, you know, where he had to crawl through that tube of human waste for two miles in order to get to the other end. And so I don’t think a reset is something that should be feared. It should be something that should be celebrated. But it is also something that realistically we have to understand will come with significant challenges and, or pain, whether that be some sort of a massive depression or something worse.
But I’m just simply saying that yes, a reset is needed and I think that is all but undeniable. What does it look like to get to the other side? That’s the question there that I think people need to wrestle with. Well, I think the process of doing it is scary and it could. We don’t know what we’re going to deal with. And change is always scary. But the other thing is we don’t know how the power is going to land. We want it to be pro human, where it’s set up better than it is now. I mean, the goal is for it to be better than now and better than it has been before we had all this debt, right.
And so that the world can flourish, not just certain rich countries. Yeah, well, absolutely. I mean, look, there’ll be profound consequences, both intended and unintended. You know, you’re talking market volatility, loss of trust, currency devaluation, savings erosion, bank failures, loss of creditworthiness. All of these things would need to be dealt with. And then you get into the geopolitical. I mean, it’s gonna be the societal things. Protests, riots, political instability, geopolitical tensions, all of that stuff, these are all parts of the issue. But here, again, one way or the other, we need to get through it. What does it look like at the other end? Is it central bank, digital currency? And along the way, do we fall into a depression? Do we see Weimar Republic, Germany? In other words, is it a great depression? Is it hyperinflation? What is it? Well, it could be either, right? Yeah.
Depending on how they manage it. Correct. Factors are sitting there. Yeah, you’re right. Managing the process carefully, transparently and equitably I think is critical to minimizing the pain and also fostering the recovery. So, yeah, I think that this is a big deal. I think Trump understands that. I think so. To be based on who he’s surrounding himself with. He’s surrounding himself with monetary policy type people. A lot of people. Some people don’t like who he’s surrounding himself with. Other people do, but it’s clear that it’s one of his top priorities. Yeah, well, his treasury secretary is a gold advocate.
He’s someone who claims that it’s his largest holding. Actually, he says that. He says, I think we’re in a long term bull market in gold. I’m actually paraphrasing what he just recently said. We’re seeing reserve accumulation by central banks. I follow it closely. It’s my biggest position. Even I was surprised when Poland said they want to take their gold reserves to 20%, which is another thing. That. Which I think is kind of interesting. Just as a side note, the head of the Polish national bank is who he’s talking about. His name is Adam Glapinski. And they asked Adam Glapinski the other day, why does the Central bank of Poland own so much gold? They’ve been one of the largest accumulators in the world for the last few years.
And he said something, Sarah, that kind of, I don’t know, almost knocked me off my chair. He says Poland owns gold because gold will retain its value even when someone cuts off the power to the global financial system, destroying traditional assets based on electronic accounting records. Of course, we do not assume this will happen, he says, but as the saying goes, forewarned is forearmed. This is why we see the central bank is required to be prepared for even the most unfavorable conditions. And this is why we hold gold. But think about that for a second. Here you have a central banker who comes out and says, even when someone cuts off the power to the global financial system, destroying traditional assets based on account, electronic accounting records, I mean, is that part of a reset? I don’t know.
It’s interesting. The central bankers, to me, not only are the most well financed traders in the world, they’re the most well informed. And are they throwing out crumbs to clear their conscience, to alert their buddies who they’ve known their whole lives? Like, listen to me when I speak, listen closely. They would say, I’m going to say stuff, you know, kind of, you know, euphemistically, but take what you want from it. And when you say, well, we own gold. Because when someone shuts off the power to the global financial system, destroying the accounting records that are all electronically based, you should just say to yourself, that’s, that’s interesting.
Anyways, yeah, I do think a reset is eminent, Sarah. 100%. I do. What it looks like. I don’t know. But we’re so far down the rabbit hole that even eliminating all of the waste, even balancing the budget today still leads to a problem of we’ve created so much debt, just the interest on the debt alone. When we talk about the Congressional Budget Office, which is a nonpartisan group, said just the interest on the. On the debt alone. By 2031, every bit of tax revenue will go just to pay that interest, plus mandatory entitlements like Social Security and Medicaid.
So if they really want to fix this problem, then not only do they have to trim all the fat, get rid of all the waste, balance the budget, but cut things like Social Security, Medicare, military spending, which by the way, is discretional. So how do you borrow money to fund your military and still be the most powerful military in the world when you’re just paying all of the money just to keep the lights on by paying the interest on the debt? It’s a problem that we’ve gone so far past sanity that we have to then go through that very dark, painful process to get to the other side? What does that look like? That’s the hard part to answer.
So, yes, there is optimism, but realism should be intertwined in there and say, hey, this isn’t going to be easy, no matter how, how exciting that the other side looks. Well, Bankruptcy is. Bankruptcy is there for a reason. If you cut and you are frugal as possible, and you still can’t get out from underneath your debt, it’s there, so you’re not a slave for the rest of your life. And if that’s the kind of situation that countries are in where you can be as frugal as possible and you still can’t get out from underneath your debt, you’re in a bankruptcy type situation.
And that’s why throughout history, debt jubilees were something that were built into the process. Off or they talk about, not always built into the process. Sometimes it’s just slash and burn and total, you know, destruction and takeover. But they know that. One other thing I’ve had a banker tell me, and you know, some strategists and stuff is saying, and this is kind of a hopeful thing that I think people will find, hopefully, is that the good guys and the bad guys, all alike, are seeing that the money’s not getting to the people. And that when the money doesn’t get to the people, it, you know, because.
Because things trickle down. And if there’s dams along the way. Right. And, and greed along the way, and when the money doesn’t get down to the people, people rise up. And so the bad guys and the good guys want money to get down to the people. Yeah. That’s happened forever, though. That’s called the Cantillon Effect. Yep, that’s what happens because it basically says as money is created, it’s the people who are closest to the money supply benefit disproportionately. So let’s talk about hedge funds as an example. Well, they can borrow money at next to nothing and they can pump it all into investments like real estate, like stocks, like crypto, like bonds, like any of these things, their assets go up disproportionately.
They make a fortune. And when they try and now cash in some of these assets, assets that allow them to buy stuff into the open market, that’s when the money trickles down. But it’s in the form also of asset price inflation. And so, yes, the money finally does get there over time, disproportionately affecting the lower middle class, especially the lower class. In the case of higher food costs, insurance costs, tuition costs, medical costs, all of the things we need are rising. Back in Minnesota for the holidays, and I was reading the newspaper that Minnesota has one of the highest increases in auto insurance in the country.
So you have home insurance going up, you have auto insurance going up, you have food going up. Well, the people at the top think the Cantillon Effect, who got the money, their assets went parabolic because of the inflation, because of this craziness where low interest rates and easy money has disproportionately raised asset prices to stratospheric levels. They don’t give a crap about the higher cost of food and gas and tuition. They’ve made so much money in their assets. But the person who’s struggling to put food on the table, well, they’re affected disproportionately. And that’s where the uprising comes from.
They look at the wealthy and they’re getting wealthier and driving around in their new cars and eating in fancy restaurants. And the people who are working two jobs just to put their kids through school and to keep food on the table and keep the heat on in Minnesota in the winter, well, they’re pissed off. And I get that. That’s the uprising comes from. And so to your point, this is as old as time. And that is why there is an actual economic theory called the Cantillon Effect, which deals with that. And that is, you know, this would lead to the rise of a central bank digital currency, which could more, let’s say, equitably pass money out to the people.
Just, boom, it’s in your, it’s on your iPhone, Right? And so as it is right now, the Federal Reserve can lower interest rates and they can do things, but they can’t give money directly to the public. And so when you talk about the rise of central bank digital currencies, you blow up the system. However that system happens to blow up, and you come in and one of the things that I believe will be on the table would be the issuance of a CBDC to address things like that, to give money directly to the people. A marriage of monetary and fiscal policy directed right by the central bank.
Now, is that something Trump wants? Don’t know. But what I will tell you is that there is really no easy way, other than entitlement payments, to give money to the, to the lower class people. And. Well, and that’s a problem because as soon as you start doing universal income type stuff, that’s where we’re heading, Sarah. Yeah, I know it is. And you hear people like Elon Musk talking about that, and this isn’t. They’re talking about AI is spurring AI. They’re using that as an excuse. But I tell you, the last four decades, automation has been removing jobs.
Right? Well, can we talk about that? Let’s talk about that for a Moment. So my, my son who works for me now, he first had to find his way in the real world. And that was important to me. And so he, he graduated from a prestigious business school, the Ross School of Business in Michigan, and went to Manhattan to get a job as an accountant with Pricewaterhouse. And struggling, making 75, $73,000 a year living in Manhattan, you’re barely, barely getting. Yeah. So, you know, and I wanted him to do that, to feel the struggle, right? And, and now I think about it, I say to myself, you know, he was analyzing real estate investment trust balance sheets for Price Waterhouse.
What the hell do they need him for? Anyone who’s used AI would know. If you just put that spreadsheet in AI bang, done. You don’t need to pay anyone 70 grand. So if you, you know, you live in Minnesota, and when you go to the Minneapolis airport, can you notice the massive changes? One of which is there’s about 100 gates to leave the airport. One has a person in it for the people who didn’t put a credit card in when they walked in or drove in for parking. Every gate has brand new, nice restaurant. Every one of them has iPads.
There’s one food runner, and there’s one bartender and a cook. Instead of having multiple waitress waiters and waitresses, you go to the McDonald’s in the Minneapolis airport. The McDonald McDonald’s has two or three people and a giant iPad to order things on. We are moving into that situation now. AI will be far more destabilizing than anything, but we’ve been moving in that direction for decades. I mean, I’ve watched whole organizations go from people to three people. So it’s been like. And now you’re saying it’s going to accelerate. Accelerate. I think, though, the other jobs, if we get creative, could start opening up too.
But go ahead. The other jobs, if you want to be honest, you know what you. We ought to have young people do. Learn trades, learn to be plumbers, learn to be electricians. No one wants to do this stuff anymore. And instead we’re heading down a path where people are going to be paid money to go home, play their video games, and shut up and take your universal basic income. Because all of these careers, I mean, even look at something like a radiologist, someone who looks at a. At an X ray. What the hell do you need that for? With AI can say, bing, bing, bing, bing, bing, boom.
Done. Although you need, you do need. Because that’s my background. You need the. If you just rely on AI, AI is only going to be as good as the software developer is at developing it and building it. And if they miss some of the stuff. That’s why you always need the creative people that are ahead of where things are going to make sure the AI keeps evolving. Because that’s one out of a thousand. I know that. I get it. That’s a scary thing. So you’re right. We are heading in this direction now. How does it all play out? Not sure.
But simply to say things are going to radically change and, you know, create community jobs, trade jobs, other types of human interaction jobs, those things are going to increase and other things would decrease. But we have to rethink what it means to be a job. But keep going. Right? Yeah. What do you need an accountant for? What do you know? What do you need these positions for when it can be handled quickly and efficiently? And that’s a scary thought. It should be for most people on AI. I could say I want to make a. A logo for Sarah Westall’s new podcast and I want her laying on top of a pile of gold coins holding a picture of the constitution and wearing a crown and bang, there it is.
You’ll have 40 pictures of you laying on gold with a crown holding the constitution and you could say, no, make it wake her wearing dark sunglasses. Bang. And it’s like, what do you need someone to. You need to create. You don’t need the person doing it. You need the thought behind it, the creativeness of it. And. But you could take a class on learning how to do that. I mean, my point is, and I don’t mean to go down the rabbit hole. No, I know. This is interesting though. This is true. And when you talk about universal basic income, we’re getting to that point where so much of what we consider to be jobs, both, I mean, really white collar jobs, they’re being erased with the profound middle management type stuff.
Yeah, all this stuff. Yeah, yeah. So, yeah, I think these are things that people need to think about, especially when kids are growing up. You better find something that allows you a future. If not, we grow closer and closer and closer to that moment of universal basic income. And that is a scary thought, but one that I think is not so far fetched when you, when you try and think what it looks like in 20 years. Well, and the universe, what bothers me about universal basic income and we need to think through this and not go put something, is that a de incense everybody all at once.
And that’s what communism did, where somebody could grow in their backyard. On one acre they would grow more food than on 100 acres because it was theirs. And that’s the kind of incentive, you know, that’s what it incents is people don’t care about doing hard work when they’re just given stuff. It just, it incentivizes media property is what it does over and over again. And people who push back. Yeah, we don’t. They say, well, yeah, but that opens us up to be creative and do all these other things. Well, the, it’s been proven when you give people things and they don’t have to work at it, it hurts them.
First of all, that’s the old saying, you know, teach someone to fish or give someone fish, they starve. Teach them to fish, they thrive. That is what it is. And again, you know, I’m sick and tired of being a doom and gloomer. I truly am because the world has been. I agree with you. Yeah, it’s been bizarro world for the last four years. Let’s just call it what it is. We have to figure it out and not be so much like that. But there is a fine line between pessimism and realism. I think we need to tread that.
But as we talk about where we’re heading. Yeah, I think these are the things that we’re going to have to deal with because things are massively changing and you want someone to thrive, teach them a trade. And as menial as that sounds to someone who has, you know, visions of grandeur, I think we need to be realistic here. And those will be where the real opportunities are, as we. That’s right, as. Yeah. And I think these are things that shouldn’t be. There’s, there’s honor in work and in a good job. And quite frankly, I don’t, I think they’ll probably be much more high paying than people would imagine because just the lack of, lack of supply and the demand that will never go away.
You can’t have AI come and fix your toilet. Well, and we also have to readjust our thinking on what is respectable because it’s ridiculous that trade jobs isn’t as honorable as somebody that goes to school for something that can be automated. I mean, it just makes no sense, you know, that we totally. Yeah. I mean if it’s automated, there isn’t a lot of creativity in it. And why is that more valued than somebody that can do a trade job? We have to rethink this stuff. Oh, I think we will. We will for sure of supply and demand.
We’ll be forced to. But you know, Again, and there are reasons to be optimistic about where we are heading. And certainly I think that had Kamala won, the reset would have been far more divided, far more dirty, far more divisive. Maybe with this new reset and, or with this new administration and more so than the present, his cabinet will hopefully inspire unity. You know, you look back at when the United States had its back against the wall and came through, the one common theme that I would put together with it all is unity, not divisiveness. We were all Americans.
Even when you and I were kids growing up in Twin Cities, we were all Americans. We were all, you know. Yeah. You understood the differences in people, but it was, we were all, in the end, we’re all Americans. Right. And that, that is what it was. And hopefully we go back to that. That’s what I take great hope in. I think so, too. Well, but economics and all that stuff. Yeah, that’s, that’s still a hurdle we got to get through. Well, we, yeah. Well, let’s talk about tariffs, because that’s one of Trump’s things. And someone’s, someone was saying online that tariffs are a tax and this is stupid and all this stuff.
And, and my thought was, is, okay, China tariffs puts tariffs on all the products that goes into China. Right. But they also subsidize the products coming in here and we don’t put tariffs on them. So by them subsidizing their products coming in here, it’s undermining manufacturing here. It’s actually they’re taking over whole industries here and they’re doing it by state fund, by subsidizing state funding those industries, creating tariffs on ours going in. So we’re like sitting ducks. So is it really a tax or is it a protection so that we don’t destroy our own manufacturing bases? Just pausing really quick to share this with you.
This is the Love Pod. It’s an amazing new product that’s available. It turns up to nine devices into satellite devices, but not just in like a satellite phone where it only does tech and calling and maybe does text, mostly just calling. This is a full blown Internet device where you can do web surfing and video and everything. But what makes it so remarkable isn’t just if the grid goes down and turns all your devices into satellite devices, it also takes the frequency and turns it into a frequency that harmonizes with your body. What does that mean? EMFs are everywhere and we’re in this toxic soup of danger.
It’s pollution. It’s destroys or it hurts you at a cellular level. This Changes that and makes the EMF harmonize with your body. So it’s frequencies that are not doing that that works well with your body, but it does even more. It’s also a vpn, so all of your data is secure and nobody can access it. And the more people that use it, the faster it is because it works on a distributed mesh network. I know that sounds complicated, but it’s not that bad. The more of these that are out there, the faster it gets. It’s only $200 plus a data package, so you can have peace of mind knowing that all your devices will work, even in a grid down situation.
And it’s private and it doesn’t hurt your body. So check it out. Makes a perfect Christmas gift. Well, I mean, you have to have a manufacturing basis to protect. That’s the issue. What are we protecting if we don’t have a manufacturing base? Where is our manufacturing spin? Offshore. Well, so in essence, go ahead. You want to bring it back. That’s really what people are saying. So tariffs were originally designed to protect US Manufacturing, but US Manufacturing is gone. And so you are in essence enacting protectionism on what. So you’re, in essence, it’s becoming a tax. Now let’s play this out.
If Trump wanted to bring, if he wanted to bring this stuff back, yeah, you got to build the factories, you got to outfit them and then train the workers. You’re talking a decade, right? And you’re talking massive increase in costs and you’re talking a depression now. That’s the sludge you got to get through to get to the other side once it’s done. Party time. I mean, you got everything. That’s right. We should have. So. But, but shouldn’t we do it? Isn’t it worthy? Yeah, we have to do it. Yes, it is worthy. But that’s the Shawshank Redemption going through the two miles of pardon my French, in order to get to the clean side, right, you have to bring everything back.
You have to incentivize. You got to build the manufacturing capabilities, train the workers to get there, and in the meantime, everything’s way more expensive. So when you put tariffs on these other countries, two things are going to happen. Number one, they’re going to say, okay, well, screw you, we’ll just raise our prices then. So that price is then passed on to the American consumer in the form of higher. There’s your tax. On the other hand, they could say, you know what, we’re sick and tired of dealing with you guys. This is the rise of the Bricks.
We are sick and tired of being beholden to the west and their hegemony. So instead, you know, we’re going to trade with everybody else and we’re going to lower our prices to the rest of the world, but to you guys, you’re going to pay more. And so there are both issues are true. And this is kind of my point, Sarah, like, yeah, we should be optimistic about a reset, but you still got that tunnel to crawl through to get there because we have their consequences to be paid, number one for offshoring all of our manufacturing and that the benefit was lower prices.
And the engine of the majority of our GDP is through consumption. So we are a country that consumes more than we produce. And that, that’s not how you save. That’s not how strong economies are made. Austrian economics would say you, you save, you invest, and you reinvest. You don’t consume more than you produce. The way that you get ahead in life, period, is to produce more than you consume and save the excess. So we’ve done the opposite, and this is why we’ve had such a good life, is that we’ve offshored everything to lower the cost so that we can consume more than we produce.
But in the end, there’s a problem, and now we’re at that problem. We want to produce more than we consume. Well, to reverse engineer that will come with an awful lot of pain. A massive depression as an example. But on the other side, just like when we, you know, our great, our grandparents or great grandparents lived through the Great Depression, our grandparents might have been children then. Yeah, there’s, there’s pain. But on the other side, you had the roaring 40s and, and then you had, you know, five, six, seven decades of nothing but prosperity and good times.
But here again, you know, maybe the more things change, the more they say the same. We need to get back to a point of bringing back, like, there’s no reason that all of these critical things like, like pharmaceuticals that we need should be, we should be sourcing from other countries. We talk about a green agenda where we want to use rare earths in order to make batteries, in order to do things for a green economy. But 100% of all the rare earth metals are refined. That’s right in China, 85% are sourced there. Yet we have the ability to source them here.
But we’ve mothballed all and put so many restrictions on our mining and all of the exploitation of our natural resources that we are way behind. So not only would we have to be able to build the ability to pull the stuff out of the ground, which takes years. But then we need to build the manufacturing capabilities and the refining capabilities, which takes years. So our children, well, when they’re older, their children would have a bright, much brighter future. But it’s going to take a decade or so to get to that point. So is the pain worth it? I would say for your children and your grandchildren, 1,000% it is.
But don’t think we’re just going to go from here to there without having to deal with this type of an issue, didn’t we? We built a hole and now we got to fill it. And it’s not going to be fun, but it is. And one last point I’ll just one last clever statement, and that is that the current administration, the Biden administration, with all due respect, if there is any needed, they’ve done more to destroy this country than any external quote ever could have in the last four years. And so we have to dig out from that nonsense too.
So God bless President Trump. God bless him. God bless him and his staff. I agree with you. And let’s just wish them nothing but success. And let’s just all remember we’re all Americans and in the end we have children and we have grandchildren and we want them to have a bright future like we did. We need to do these things. But yeah, let’s buckle up and get ready for it. It’s we need to buckle up and get ready for it. The people that are giving you all this rosy stuff that’s going to happen overnight, I think they’re setting people up to fail mentally.
So you’ve got to be prepared that we’re starting on the right path. But it’s going to be hard and we got to get our ducks, our priorities and our ducks in a row. But I want to ask you about monetary policy from a gold standpoint. One of the things that people say the fiat currency is, the problem with it is that they can just print, print, print, and then there’s nothing, there’s no skin in the game. They just, it’s willy nilly stuff. Whereas if you have something that backs the currency, then they’re forced to have some fiscal responsibility.
But the argument against the gold being, you know, or asset backed is that it keeps the economy from growing at the rate that they want to grow it at. I would say that if you have enough that’s asset backed and you have some reserves like they should have so that they can be used to grow the economy, we shouldn’t have A problem. But do we have that and is it capable? Are we capable of it? Well, first it would have to be to much higher level. And people who say these things are really not a student of history because for 180 years on a gold standard, we had zero inflation and the greatest prosperity the world had ever seen.
And if you look at like for example, I’ll give you two recent examples, not so recent, one very recent, one not so recent. But the Swiss who used to have their currency pegged to gold, used at 40% gold, gold backing. The unit token that the BRICS are talking about has a 40% gold backing that gives 60% monetary latitude. What is the head of the Dutch national bank been saying forever? What is Christina, what’s her name, Cynthia Loomis, the senator from Wyoming. Both say the same thing. Let’s revalue the gold that we’re holding and revalue it to a level.
In Cynthia Loomis case, she wants to revalue it so that we can take part of the proceeds of the revalued gold and use it to buy Bitcoin for the strategic Bitcoin account that Trump talked about and to use it to pay down the debt. The head of the Dutch national bank wants to revalue gold to offset the liabilities on the balance sheet. So if we were indeed to see gold pegged to a new system, which I, you know, look, you got, you got the new treasury secretary, what’s his name? Scott. Scott. Scott, Scott Bassett. And Scott is a, is a gold guy.
And like he said earlier. Well, I said earlier, it’s, it’s the, his largest holding you have. What’s her name? I can’t believe. I can’t think of her name all of a sudden. In fact, I invited her on my show. Oh, gosh. What’s. Everyone’s talking about her. Judy Shelton. Thank you. My gosh, I was having a. I don’t have enough coffee on my show, too. If you get hold of her. I won’t. She’s responded to me and I have to, I had to present something to her. So I will get her on your show. I will. Yes, if she comes on my show, I’ll get her on your show.
I sent her a long email last night, but Judy is someone who is a gold standard advocate and she said the most, most. What she said makes the most sense to me. And that is to, in fact, Scott said this too, and that is issue Treasuries with a very low coupon that are redeemable in gold. At the end of the period. Because who wants to buy a long duration treasury from a country that has chosen inflation over austerity, A country that has weaponized the treasury market? No one. You have far too much risk on a long term duration.
Default risk, inflation risk, sanction risk, risk, risk risk. But if it’s pegged to gold, that’s a whole different story. So you are beginning to see people in the system that understand gold and then to see Cynthia Loomis, the center of Wyoming, get up right after Trump spoke in Tennessee at the Bitcoin conference and said we should revalue gold. And I’m going to present a bill to Congress to revalue the gold that the Federal Reserve is supposedly holding on behalf of the treasury, revalue it to a level sufficient enough to buy Bitcoin with some of the proceeds.
And you know what’s interesting? You can’t quite make it up. In every central bank balance sheet across the world, gold is held in an account on their balance sheet called the gold revaluation account. I mean it’s almost. You can’t make it up. Are they, is this something they work in unison? It’s not quite. Of course, that’s right, of course they do. And you can see that, I’ve been able to see that for years in the way that they all accumulated gold and repatriated prior to the BIS announcing it was tier one. You can see this, there’s multiple examples of it, but they do work in unison.
Correct. So yeah, it’s building up to this gold back situation. Now if they reevaluate it so they could, I would assume they’d really reevaluate it high enough so they could pay down whether it’s a full debt jubilee or a partial debt jubilee to re shore up our balance sheets so that we can move forward. What kind of reevaluation do we need to see? And I mean that’s going to affect everybody because everybody holding gold is. It would create higher inflation, period. It will, but what kind of evaluation are you thinking? I mean right now it’s at what, 32, 3300 or 3122? No, no, it’s at 2600 and change.
26, 26 and change. It got up, got up to 2780 and right now we are at 20. What do we. I shut my phone off so it won’t ring. Let me tell you real quick what it’s actually I heard on the video yesterday it was like a little over 3,000. So they were told me the wrong. No, it’s 2635 right now as we speak. They were being too hopeful, so I was like, wow, that really went up. I thought it was that. Okay, so. But regardless, this is where it’s at. Where is it going to go? If they need to reevaluate it, it needs to go a lot higher.
It’s been suppressed for a long time anyways, 100%. And remember, let’s use the idea of a 40% gold backing. That’s what the BRICs use. That’s what Switzerland has used. I believe that’s what. Something very close to what they would use because it gives them 60% monetary latitude to be able to create financial instruments to be able to do things to the expansion. Yes. And that, that’s why you have fun black projects. Right. And as long as you only have. I mean that. Well, but. No, but it is part of the game. And as long as you have that tether that’s, you know, a long chain that’s bolted down to the ground keeping, you know, monetary expansion from going to the heavens.
Like we’ve seen right now, it’s a good place. So there have been. It’s a hybrid is what you’re saying, right? And there have been a lot of people talking about this lately. Like for example, you have James Rickards who says you take the gold held at Fort Knox, 8,330 metric tons, which haven’t been audited since 1953, and you divide by M1 and he came up with $27,000 an ounce. You get others who have used other metrics. Divided by M2, it goes higher. Divided by the debt, it goes higher. Crazy numbers, 27,000. But what does it do to silver too? Keep going.
Well, here’s. Here’s the thing I want you to think about. What if we made it 130,000? Now is that crazy? Yes. A lot of people would think it’s crazy. But how much more crazy is it than bitcoin being at 100,000? Why is it crazy to think that bitcoin, which just came about less than a decade ago, could be 100,000 digital air, if you will. A algorithm that has no value other than what someone says it’s worth or willing to pay more for it? I guess you could say the same thing about gold or dollars. It’s only worth what other people will value it at.
But gold has been valued for since the beginning of time, for over 5,000 years as wealth. Why couldn’t it go to that level? If it did, immediately it offsets our balance sheet like that. Now we have zero debt in relation to our assets. Now, how would that work? Well, the U.S. treasury says we will pay $130,000 to any government that wants to send us their gold. Would they do it? Don’t know. Maybe, maybe not. But the point of it is that if they did that, who would it benefit? Well, who’s been buying all of the gold for the past several years? Oh, that’d be every central bank on the planet.
So you have the central. And if you look at the way in Europe, if you look at gold in relation to their gdp, it’s really strange. And there’s some people talking about this quietly, where it’s almost identical for every country across the whole European continent, they’ve all have almost the exact same amount. It’s redistribution. That’s right. So they’re buying it, and it’s almost every one of them now has the same amount of gold to gdp. It’s like they’re all preparing for a revaluation and they all have the same amount. And then you see all of the central banks doing what? Repatriating their gold.
I’ll hold it myself, thank you. From the bank of England and the New York Fed. So they’re all accumulating, they’re all repatriating. Who would it benefit? Well, those are the countries, especially the ones like China and India and Russia. Well, really benefit them, but it would benefit the European countries. I don’t know how high it goes, and I’m not saying it’s going to go that high, but markets go higher than anyone ever thinks possible. And we are so far down the rabbit hole that if you want to inspire confidence again, you need to have it pegged to something.
And if you’re going to peg it to something, you need to give yourself monetary latitude. So you do a 40% back and you raise it to a level higher than anyone ever thinks it will go. And it will never come back down because it will be pegged to that number. Could it go to 100,000? Well, why is it okay to think bitcoin can go? I remember when Andy Hoffman was writing my newsletter in 2017 and called me, begging me to buy Bitcoin at 400 bucks. And if you told me to get to 100,000, I would have said, I’ll eat my hat.
Well, I’d be eating it right now. And you wish you would have listened to him. Well, yeah, of course, but it’s no more foolish. And in fact, I think it makes Far more sense because the most powerful people on the planet have been accumulating gold hand over fist. So wouldn’t it benefit them to see gold revalued to a much higher level? Absolutely it would. So as foolish as it sounds, when you hear Cynthia Loomis talk about gold revaluation, when you hear the head of the Dutch national bank pounding on the table, gold revaluation. When you hear Adam Lipinski, the head of the Polish national bank, say, well, we own gold.
Because when someone shuts off the power to the global financial system, destroying electronic accounting records, this is why we own gold. But what if that happened? What would gold be worth? So as crazy as it sounds to me, it’s not. It’s not that crazy. It’s just a matter of what we find normal today may not be what we find normal tomorrow. Think of what was normal 20 years ago versus what is normal now. I just think that that’s right where we are right now. Nothing is off the table. Including. We’re in a whole different space now.
What would that do to silver? Silver. Silver should rise in comparison to gold. If whatever happens to gold, it should go, will it or. No, they don’t always go. Could it completely decouple then? Could silver stay way lower if gold. I don’t think so. You go back to the beginning of time, Sarah. There is a 90 plus percent correlation in movement. They don’t always move in harmony. Often gold will lead the way, silver will follow. Silver is becoming far more strategic than industrial. And I think there is an argument to be made for silver being the most undervalued asset period on the planet.
And it’s needed for anything high tech, it’s needed for military. It’s just been held back. Silver should be higher than gold. I’ve had people tell me that. Yes. I wonder if I can. Let me see. Let me just see if I have it on this computer because I’m traveling today. If I do, I’d like to show you something, but let me see. I think I do have it. Am I able to share my screen with you? You will in a second. There you go. Okay. I want to show you something. Can you see that? I can see your website and you can create.
Yep. This is a. This is. Yep. This is a presentation I did at Rick rules conference. I want to show you something and that’s not. Okay, let’s start with this. So this is currently the Comex market. The red line. The red line represents four commercial banks in the west. The green line represents the four plus four more. The top eight commercial banks. This is a short position. So you have eight commercial banks holding the largest short position in any commodity traded on comex. Look at crude oil way down here. Why are eight commercial banks trading such a massive, massive shorting such a massive amount of silver now, now let’s go back.
I think I have it up here. Okay, let’s start here. Here’s a smoking gun. This is a subcommittee. On October 14, 1942, a subcommittee hearing in the United States. You can google it.s 2768. The present consumption of silver for war purposes at the rate of about 100,000 ounces a year and is growing rapidly. According to the War Production Board, it’s only a matter of months before war demands will increase sufficiently enough to require at least 200 million ounces of silver per year in 1942. Here is the supply demand numbers from the Silver Institute which shows a 265 million ounce shortfall again this year.
It’s many years now of structural deficits. So look at what they say. Demand is industrial 9% electric and electronics, 9% photovoltaic. Photovoltaic that is solar panels 20% brazing alloy and solders 3 other industrial 9 photography 3. Jewelry 4. Where’s military? Where’s the military? If it was 200 million ounces a year in 1942, where the hell is military? Then we look at this and say why would eight commercial banks. There’s military. Well, but why would they be stupid enough to short this? And why is the Silver Institute not reporting it? And this is what happens as a result.
This is the LBMA vault. So the rest of the world understands what we are doing. They get the fact that we’re holding back the price of silver to fund the military industrial complex. I think China, Russia and India know this. And so they are draining. Oops, didn’t mean to do that. They are draining the supply of the silver down to of the 800 million ounces you see right here in London, 500 plus belong to the ETFs. That leaves only 300 million ounces of silver in London. Now here’s the interesting thing. And the LBMA London, they trade every day 292 million ounces of silver of the 300 million they have.
But they admit those numbers are 10 times undervalued because they only post the final settlement numbers, which means they’re trading upwards ends of 3 billion ounces of silver today, 10 times their float. It’s all naked shorting by those same banks. There’s between 4 to 6 billion ounces short, naked paper short by the same banks that are 800 million ounces short on COMEX. They’re doing it for what the military industrial complex and their desire to create high tech weaponry. And if they let silver go to a level so Russia and India and China understand this. China is the second largest producer of silver in the world.
They are flying all over the world buying Dora and concentrate directly from the miners in Latin America. I have had this validated on three occasions from mining executives who say yes, they go right to the miners, they say, we’ll pay double what the West. Well, we want your concentrate which is a sludge and we want the dory which are crudely refined bars before they go to the, to the refining to be pure. Wow. And they send them back to China, right? That’s right, yeah. It’s not tracked. And they send it, and it’s, they send it back to be refined.
Russia, space exploration and all sorts, whatever things going on. Yes. But Russia is now for the first, first country ever to say our state is going to accumulate every day for the next month they’re buying millions and millions of dollars worth of silver, platinum, palladium and gold. And of course, India has purchased over 900 million ounces of silver in the last four years. This is this chart that we see falling down. So they’re using it against us. Sarah. It’s the best value in my opinion of any asset I’ve ever seen in my life. It is. And I got a bunch of silver back in the day in 2012 when it was down to like $12.
Yeah, yeah, well, and you know, it’s just, it’s grossly undervalued. What is that now, like 30? It is today it is 36, 66. It should be much higher. But, but yesterday or today, and I think it was either yesterday or today were options expiration. And so they have been using the, those banks, remember that short position. So every dollar was going up there getting hammered between 4 and 6 billion in London and 800 million a day, every dollar on Comex. So when Trump won, they use that excitement, that exuberance, that irrational exuberance to smack it down.
And, and, and then they jack up bitcoin and they jack up by buying futures or doing whatever they want on, on Comex. There’s a, there’s a bitcoin future. They can push the price up and then everyone jumps ship on gold. They sell, they lock in their profits. The commercial banks drive the price way down by over 200 bucks in gold and cover their positions that are. That are killing them. And over four bucks in silver or whatever and cover their positions that are killing them. It’ll shoot right back up with options expiration out of the way with these positions covered.
You’ll look and see. And just the other day we saw that, that there was massive covering, massive covering by those banks just recently. Last week, they covered 15,570 gold contracts. That’s 100 ounces apiece. And they covered 5,700 silver contracts at 5,000 ounces a piece by driving it down. So the commercial banks use that excitement of the Trump victory to knock the price down and cover these positions that are killing them. It does not change for one moment, ultimately where it’s going. It’s just, it was to be expected. And with options expiration, I believe it was yesterday to be expected.
This is not the end of the gold market by any stretch of the imagination. What Trump will do, aside from hopefully fixing the ills, societal ills, and our cultural ills, what he proposes will be highly inflationary. It will hopefully get us to the other side. But don’t for a moment think it will be easy. My opinion, it will look like stagflation, maybe hyper stagflation. That’s where the Depression meets the printing press. And it’s not something to be excited for, to get to the other side and look your grandchildren in the face and say, you have a real future.
We do need it. We do need it. And we need to be mature about this process and also hold their feet to the fire, make sure they’re not doing something like bring in Track and trace CBDCs that’ll enslave us as control grid. But they’re, they’re. What they’re saying is true, but at the same time, be smart and wise and support them in the process of rebuilding this country. Because 100. Yeah. Because so many people are ready to throw away everything and they need to be wiser and smarter about this. But I appreciate your conversation. We’re going to have you back every few weeks now because like I said, it’s one of the most important things hitting mankind right now in many, you know, millennial, you know, thousand years.
So, and I, and I’m not exaggerating, this really is that important for what we’re dealing with right now. So where can people, and I really suggest that people do this. Where can people get some gold and silver? You have the best, best prices, the best service. You are so good at what you do. Thank You, Sarah. So for many reasons which obviously won’t discuss now, we don’t list our prices on anything other than small purchases. And on our website, if people want our price list which is will be as good or better than anyone in the country, send us an email at info Miles Franklin.
Just request the prices. Make sure you put Sarah sent me in the subject line. These are special prices for your people as well. You can ask any questions of our staff. And we have 14 brokers that all have very deep resumes. They’re all my friends, every one of them since most of them since childhood. Deep, deep resumes in Wall street, very prestigious accreditation across the board before they came to work for me. Every one of and they can discuss anything. We just talked about. Infomilesfranklin.com request the price sheet Sarah sent me. Ask any questions. If you want to be contacted, put a phone number down.
And one very important thing, if you don’t get a response within 24 hours, please check your spam. Oftentimes when any corporate entity sends an email, it can get stopped by your spam filter. So check, check your spam infomilesfranklin.com price list questions. Put your phone number down. Sarah sent me. That’s the best way to do it. And we will make sure your people get white glow. And they need, they need to understand I am buying from Costco literally costs you 10% more per ounce. Buying from a lot of I know people who are selling. I know people who tried to get me to sell.
They charge 10% more. I mean, they just gouge you, some of these people, because they take advantage of your ignorance. Well, Novette, how do you sell? They won’t buy it back. And if there’s a problem, you can’t ship it back to them. And establishing a relationship is important. If you called me, how many times have you sent me an email and say, you know, I need your help or this person needs your help and bang, I’ll do it. Because relationships matter. And especially when there’s a problem or when you need liquidity. You know, I think it’s cool that Costco is waking people up, but.
That’s right. Well, you know, I think it’s important every relationship, all this online stuff, like you said, if you’re going to, if you’re just going to do something small, fine. But if you’re going to do something sizable, you don’t want to just buy online, period, because you’re going to be paying through the roof. You’re not going to get the you’re not going to get the kind of service that you need for your investment. It’s important, I think, where we’re going, Sarah, relationships are very important. It’s a key to my success in my business. And, you know, relationships are very important, especially when there’s a problem or an urgency or an issue or whatever.
And I just think it’s not something to underestimate, but certainly anyone coming from you is someone we’re going to treat very specially. We appreciate the relationship. I hold you in the highest of regards. I’ve always said that I admire your courage, your resolve, and your intellect. And it’s an honor to be here with you. I look forward to coming back in a few weeks. I hope you and your family and everyone out there has a great Thanksgiving. There’s a lot to be thankful for. We should all be thankful. And, you know, the. The American dream, hopefully has been reignited.
Although there’s. There’s a lot of wind blowing at that candle, we need to make sure that we batten down the hatches to keep it burning brightly. And that will come with some pain and some effort. But it’s something to be thankful for that we at least have the ability to light the candle again and join the cause. You know, don’t sabotage it. Do what you can. Keep their. Hold their feet to the fire without sabotaging. I see way too many people just wanting to sabotage our country, and it really bothers me. But thank you so much, Andy.
I really appreciate everything you do. All the best to you. Hope to see you again soon and have a great Thanksgiving.
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