Economic Warfare Is Escalating

➡ The article discusses concerns about increasing national debt and fraud in states like Minnesota and Ohio. It also introduces a new peptide, retatrutide, that helps in weight loss by reducing appetite and burning fat. The article then shifts to economic issues, discussing the possibility of economic warfare and the increasing value of silver. It ends by discussing China’s implementation of a digital yuan to speed up the de-dollarization process globally, which could potentially impact the US dollar’s status as a global reserve currency.
➡ Countries are building more vaults to trade their own central bank currency without the interference of the SWIFT system, reducing fees and avoiding the need to convert to dollars. This is creating a new monetary ecosystem where gold settlement is replacing the treasury. This shift is slowly reducing the dollar’s role in global reserves and increasing the use of central bank digital currencies. The construction of a vault in Saudi Arabia signifies a significant geopolitical shift, as countries around the world are beginning to question the fiscal responsibility of holding treasuries from a country that is creating a trillion dollars in debt every hundred days.
➡ Keith Neumeyer from First Majestic discusses how China, the second largest producer of silver, has been buying pre-refined silver from Latin American mines and refining it themselves, keeping the market unaware of their purchases. He also mentions how Samsung followed suit, striking a deal with a Mexican mine to secure all its produce for two years. Neumeyer emphasizes the importance of understanding the delivery process in the silver market, noting a record high of silver contracts in December. He questions who is standing for the delivery of such large amounts of silver, suggesting it could be central banks, sovereign wealth funds, commercial banks, and large companies.
➡ The article discusses the devaluation of the dollar against gold, the impact of artificial intelligence on jobs, and the potential need for a universal basic income. It also highlights the importance of owning assets in a time of currency instability and the challenges of disseminating this information to the public due to censorship and the fast-paced nature of modern life.
➡ The article discusses how emotions can influence market trends, with fear often leading to irrational decisions. It highlights the importance of doing thorough research and not following the herd mentality. The article also mentions how top-level financial institutions are now advocating for investing in gold and silver, which they previously discouraged. Lastly, it emphasizes that it’s not too late to invest in these metals, as their value is expected to rise significantly in the future.
➡ The article discusses the current volatility in the commodity market, particularly in silver and gold. It suggests that despite the market’s unpredictability, it’s not too late to invest. The author recommends cost averaging, which involves dividing the total amount to be invested across several points in time to reduce risk. The article also warns about the potential impact of margin increases on the market, and highlights the growing trend of investors demanding physical delivery of metals, which could disrupt the system.

We added 600 billion to the debt in six weeks. And then you look at what’s going on in states like our home state of Minnesota or Ohio where the fraud is rampant and people are going to start to say pretty soon what the hell am I paying taxes for? This is exactly what they’re doing with our money. Fraud and waste and abuse and no one is ever really ever accountable for it. So yeah, these are scary times because Gerald Celente has a great saying. He says when people lose everything, they lose it. So will we. See that kind of it’ll UBI thing.

See, that’s what create a lot of resentment. Just a short break from the program to share with you an amazing peptide to help you lose weight. It’s stronger than Ozempic and why it’s because it not only reduces your appetite but it also burns fat. These other GLP1s on the market, they do not burn fat, they just reduce your appetite. This one retatrutide is stronger. It’s considered a next generation peptide because of that. And man does this work. I’ve been using it for two and a half weeks and I’ve already lost 11 pounds and I cut my dose in half because I was losing weight too quickly and that kind of freaked me out to be honest.

And so I also am taking this 5amino 1 mq in capsule form. This helps by making sure that you lose fat, not muscle. And so in conjunction I’m using both of these. This will work whether you have this or not and I am telling you it’s amazing. If you are interested in getting this I have the link below or you can go to sarahwestel.com on the shop. You can use the coupon code Sarah to save 10%. If you have questions about your own use you should either consult your doctor or you can join Dr. Diane’s tribe and I have a link below to that.

It is only a dollar for the first week. You can ask her any question you want and get all your answers to this. How to take an injectable and there shouldn’t be any fear in doing that. It is easy and straightforward. Go to sarahwestall.com under shop or use the link below and remember to use coupon code Sarah. Welcome to business game changers. I’m Sarah Westall. Andy’s back for our Friday night economic review. We’re going to hit on whether we are see economic warfare and we’re going to go through the details of it and the de dollarization that’s on hyperdrive and is this.

Are we seeing economic warfare being triggered on a more serious concerted effort versus just little by little? Right. Or is that their version of economic warfare? Little by little? Because you don’t want to wake up the giant until suddenly the. The giant surrounded and there’s nothing they can do. Is that what is happening? We’re going to talk about some of these things. We’re also going to talk about why silver, again, is increasing. We’re not going to go through the same details of being an industrial metal and the demands. What we are going to go through, though, is some of the licensing agreements that is occurring over in China and how that’s affecting the price.

I think you’ll be interested to know on some of these things that are going on that nobody is talking about. Before we get into this, I just want to remind you that I work with Miles Franklin as far as with metals go and precious metals, which is a really important time to at least diversify into some of them for your family. And if you’re going to do that, you want to do it with. With a company that you can trust that hasn’t scammed anybody. In fact, they not only haven’t scammed anybody for free, they have been helping people get their money back who have been scammed.

And it’s something they have done with hundreds of people that I have referred to a company does that is this company that you can trust. And they also have the best prices out there as well. And they don’t publish their prices because it’s not public. So if you want to get access to their private price list, go to sarahwestall.com Miles Franklin, fill out that form and they’ll get you the private price list and they will contact you and you can talk to best people in this industry. Okay, let’s get into our Friday night economic review with my friend Andy Schekman.

Hi, Andy. Welcome back to the program. I hope you had a really. Yeah, Well, I hope you had a good holiday. We took a little break. Yeah, you know, it was great. I took a break from podcasting and believe it or not, my wife and kids were out of town for six days and I was all alone, thinking I would be free to play golf every day and, you know, live like a bachelor. But it coincided with maybe the busiest week of my career. And as the price of silver and gold was flying. So, yes, I took a vacation.

But not really. But that’s okay. You know, these are some unusual times, and I guess you gotta make hay while the sun shines. So it was nice to relax a little bit, but seems like, you know, my dad always says life is like a roll of toilet paper. You don’t notice it’s spinning so fast when you’re young, but as you get older, it seems to go faster and faster and faster. And that’s kind of a metaphor for where we are right now. Life just seems to be going faster and faster. The things that are newsworthy happen at such a rapid pace where before they seemed like one or two things a year, now it’s one or two things every hour.

So, yeah, it was good to chill for a little bit, but yeah, it’s crazy time. But good to be back at it and good to be here with you. Happy New Year to you and yours as well. I think 2026 is going to be a good year. I think there’s going to be a lot of change, but I think people are maturing. Let’s hope so. Or waking up anyway. Yeah, I think there’s going to be people, more people getting involved that realize they can’t sit on the sidelines anymore. No, you can’t. And thanks to courageous people like you, I always say it, who, you know, who are disseminating real information because the lack of any journalistic integrity about what is happening right now on comex is a good example is it’s startling to me that these questions aren’t being asked by anyone who is supposed to tell the American public what’s happening.

They just pick a narrative and they’re just like, okay, what’s the agenda? And then they just do that. And I think it’s so destructive for, you know, regardless of what you think, the country needs to go. It hurts you and your family directly 100%. Yeah. Well, let’s talk about the de dollarization. China is implementing a digital yuan in the effort to continue to speed up the de dollarization that’s going on worldwide. That is pretty significant. Yeah. Well, US dollar, the share of US dollar reserves as a global foreign currency or reserve currency has fallen to its lowest level this century ever.

It’s happening. The de dollarization is real. And what the Chinese are doing, which is very interesting and I believe this to be the rails that they’ brics. Instead of antagonizing President Trump and the administration about really building the BRICS unit infrastructure, which is something we’ve talked about on your show for a while, and the unit is actually operational, as is the infrastructure beginning to mature. But what China has done first and foremost is of course they have their rails. If you will, which is the bridge technology that is Enbridge, that allows countries to trade central bank digital currencies amongst themselves on a platform that settles in seven seconds outside of swift interference at a 98% reduction in fees.

They’ve already partnered up with the countries in Southeast Asia. Their acronym for this group is asean A S E A N. They represent China’s largest trading partner by far. They’re twice the population of the United States, about 800 million people, and represent 30% of global GDP. They are now settling across this settlement system, which the SWIFT doesn’t mesh with. The interesting thing about it is, along with that, what China has done is begun to nationalize or internationalize their yuan by building a series of multi jurisdictional vaults that belong to the Shanghai Metals Exchange. When metal is delivered out of China, it has to leave through Hong Kong.

So the first vault that they built is in Hong Kong. It’s done. So if, for example, China were to trade with Saudi Arabia for oil and they pay for it using their digital yuan over the bridge technology, which again, SWIFT can’t intervene. The Saudis can immediately take that digital yuan, send it back to the Shanghai Metals Exchange in Hong Kong and stand for physical delivery of metal. In other words, if they don’t want to hold the digital yuan, it is immediately convertible now into gold on the Shanghai exchange and delivered. But now they’re building more vaults.

The next one, believe it or not, is under construction in of all places, Saudi Arabia. And they plan on putting these vaults in multi jurisdictions all throughout the Belt Road so that all of these countries can trade their own central bank currency without interference of the SWIFT system, settle immediately at a massive reduction in fees, not have to convert to dollars through U.S. intermediary banks and at the cost and the time and going through the US to bul bolster the US hegemony. Instead, they can build their own monetary ecosystems, trade with one another and settle in balances in currency or trade in gold in all of these vaults.

Instead of having one vault like the bank of England, when Venezuela said can we have our gold back? And they said no, you can’t. So in essence, it is creating an ecosystem where the gold settlement is more or less replacing the treasury and the ability to trade. Instead of using the dollar for settlement, they’re using central bank digital currencies, which chips away at the at the settlement status and using gold instead of treasuries, chips away at the reserve status. Little by little this is happening. And yeah, right now we’re at the lowest amount of dollar participation or reserves in this century.

So it is happening to your point? Well, it’s in a lot of real ways. It’s the, it’s a new kind of warfare. Right. But economic warfare is always going on whether it becomes at this level where is it? Everybody’s always competing, right? Everybody’s always doing economic warfare when they’re businesses and stuff. But at what point does it become almost like real economic warfare, you know what I’m saying? Well, once it’s realized, then what is a slow trickle becomes a rush and there’s only so many that can make it out the door at once. This is something that by its very nature has to be slow and steady.

And you’re beginning to see it. And to me it’s less the dollar participation and more the treasury participation. And you’re seeing countries around the world say well why would we hold treasuries with the fiscal irresponsible responsibility of a country that’s creating a trillion dollars in debt every hundred days? A country that has thrown caution to the wind and one that if you end up on the wrong side of their agenda, you too can be a victim where they will kick you out of swift and in some cases sanction and even confiscate like we did with Russia, their treasuries.

So this has precipitated this and the way that we have been going around the world at war to it seems everyone with everyone in economic war through tariffs that in many cases are more like sanctions. I think that it’s accelerating the de dollarization quietly not to, you know, aggravate the administration, but nonetheless self preservation would dictate that this is a backdoor that these folks have to I think really accentuate and refine. And you can see it happening in real time. It’s incredible. Now the fact that there’s a vault in Saudi Arabia is not, is not a small thing because it’s not completed yet, but it is under construction or the plans are to get it under construction very quickly.

That’s not a small thing because the petrodollar just ended what, a year and a half ago? I don’t know, time is flying so fast. But that’s extremely significant. And it shows geopolitical alignment. Yeah, and it shows that Saudi Arabia is straddling the line. While they haven’t fully accepted the integration into brics. You look at the Enbridge technology which is the cross border settlement system that allows these countries to trade free from the swift intervention. The four original participants, along with the bank of International Settlements innovation hub were China, Hong Kong, Thailand and the United Arab Emirates.

The fifth full participant, Saudi Arabia, by their very actions they are showing allegiance towards this new growing union while still placating and kowtowing to the US Administration so as to not, I think cross those lines at least yet until the infrastructure perhaps is fully integrated giving them the ability to do this. But, but when they came out and said, look, we’ll still take the dollar to your point with the petrodollar deal, which was at the 50 year anniversary of the signing of the deal with Kissinger and the Saudis in 2023, yeah, we’ll still take dollars but we’re going to take other things too, like digital yuan.

And that’s something that they’re already doing. So it’s something that is increasing certainly in terms of its participation with countries around the world. And you know, you got to look kind of out of, look at things kind of out of duality in that yes, you know, Maduro was a narco guy, right. And so, and we did build the infrastructure, we being the US oil companies and the British oil companies did build the infrastructure in Venezuela. And when Maduro took over, the agreement we had went pear shaped. So there is some precedent for, I guess or rationale for their argument.

But nonetheless they were, they have applied to the BRICS and want to sell their oil for yuan. And you know, that didn’t work out so well for Gaddafi and for Hussein either. Now I’m not saying that was the primary goal here, but certainly securing what is otherwise known as the largest known verified deposit of oil in the world is something that shouldn’t be overlooked. Oh for sure. You know, the fact that Maduro was a bad guy and a dictator is a nice propaganda thing. Right? But we’ll put up with a lot of dictator and a lot of bad guy when they’re talking about world reserve, world’s supply of oil as long as they’re working with us.

Well, you know, it’s interesting too that all of a sudden we’ve taken interest in protecting the Christians in Nigeria and they should have done it a long time ago if that’s what they were thinking because they’ve been persecuted for quite some time in Nigeria and now they’re working in coordination with the Nigerian government to, you know, drop bombs on ISIS in Nigeria. Well, what is Nigeria the largest producer of oil in all of Africa who has fully applied and been integrated into a junior or an observation member with the brics. So are they trying to, you know, so did Venezuela.

Are they trying to they did what they did through force with Venezuela and maybe with a little bit of cooperation with Nigeria. Are they trying to push back against this formation of the brics by countries that are developing? You know, you’re not going to see them go and try and do this with Russia or with India or with China directly. But you’re beginning to see things that maybe have dual meanings in what we are being told and what the true motivation truly is. Well, money and the movement of money has a way of telling you what the true picture is, doesn’t it? That sure does follow the money.

They always say it does. Okay. The other thing with China that they’re doing for that’s going to impact the de dollarization and silver markets is they’ve changed the licensing agreements on like 60% of the supply of silver worldwide, which they control. What is going on there? And we’re seeing huge silver increases. It has to be tied to some of those actions. Yeah. Well, let’s go back to the end of 23. The European Union said silver is a critical mineral. That’s what the EU did. Largely missed. Everyone is focusing on what the Chinese said here in January.

But let’s continue the timeline. In November of this year before they made that announcement, they said that they are now going to prioritize silver and exporting of it for domestic needs. And then the United States says, well, but it is now a critical mineral here in the US which is huge. Putting a policy floor, a national security floor if you will, underneath the price of silver. And then China comes out and says well we are going to restrict silver exports. And to your point, in terms of DORA refining, dore being bars that are crudely refined by miners who then send them somewhere to be fully refined.

Well, a lot of that silver all around the world in DORA form found its way to China who to your point does refine between 60 and 70% of all the world’s dore which then they refine into pure silver. They said yeah, we’re going to restrict to only state sponsored refineries. There were hundreds of smaller and mid sized refiners that would send their metal out into the western market that now do not meet the qualifications. And if they are state sponsored and have to get a permit through Beijing, knowing that in November they said exports will be really rethought and prioritized to domestic needs and we’re going to restrict them and you must get permitted first.

Along with silver being classified strategic in the European Union and the United States, you can see that this is Happening Now I’ve said on your show for quite some time that I have friends in the mining industry, Sean Khunkhun and for Dolly Varden in particular and Keith Neumeyer for First Majestic, who have said that that miner or that Chinese who are the number two largest producer in the world are flying around Latin America for years buying pre refined silver from the mines themselves. In other words dore and concentrate which is a byproduct of the mining process, shipping it back to China and refining it themselves so that the market has no idea how much they are buying and doesn’t have an effect on the price.

But they’ve been doing that for years now. This is the number two producer in the world that finds it necessary to fly halfway across the world and buy unreal refined silver in pre refined stages, sending it back and doing it themselves. You can see that this is something that they understand. And then taking a lesson from the Chinese was Samsung, who a few weeks ago flew to Mexico, struck a deal with a closed mindset. Open it again and we get 100% of all of your concentrate that you produce for the next two years for our needs.

And then you look at what’s happening on comex and this is something that must be understood because to me Sarah, there is very little else that people who own silver need to understand about what’s happening with silver than to look at the deliveries. Okay? This is the most important thing to understand as far as I am concerned, period. And so if we talk, let’s go back a month and talk about December. The December delivery notices were at 12,575 contracts. Comex, it’s the largest all time high record for a month of December on COMEX. 12,575 times 5,000 ounces per contract is 62,875,000 ounces were delivered in December.

Now when it gets delivered that means someone said I don’t want a paper promise, I want the real metal. Now that doesn’t all leave Comex. A lot of it goes into the Comex in what is called eligible registered are the bars that you can stand for delivery on inside the system backing the contracts eligible means you know what, it’s here, it’s ours, it’s in the vault. We’re not moving it, it’s not for sale. Thank you very much. But the question is who the hell is standing for possession for 63 million ounces of silver? A 500 ounce box of silver Eagles weighs 42 pounds.

What do you think? 63 million ounces weighs and who’s doing it? And where is the journalistic integrity across the entire mainstream asking this question? Because it’s happened for 13 straight months now since Trump won the election. Every single month, it’s record after record after record after record billions and billions and billions and billions of dollars worth of gold and silver every single month. Well, let’s look at what’s happened in the first six days of January. In the first six days of January, the first six deliveries days of the January contract, there have already been 5,451 gold contracts that have stood for delivery at 100 ounces apiece, plus 6,321 silver contracts that stood for delivery.

That is 545,100 ounces of gold and another 31,605,000 ounces of silver. Who’s doing this? That’s billions and billions here six days into the month with another 24 yet to go. And there’s no one asking. Well, they should be asking. You know what? The BRICS nations which control over 50% of all the silver or of the gold reserves are, are standing for delivery. That’s the headline I’ve been looking at. And information. What are they doing? Because it seems like they’re, it seems like there’s almost full blown economic warfare. Before we get into that though, I want to ask you, do you think that China’s licensing and what they’re doing, shutting down these, these mines, is that essentially their response to Trump’s tariffs? And is this the low level economic war that we’re seeing? It’s not even low level.

It’s in our face. Yeah. And so people, you know, the lag time that this has taken, I’ve been Talking about since 2020 and a lot of people dismiss it because it takes so long. Well, if that were true, Andy, why don’t they just buy everything? Because if they came in with a trillion dollars to buy everything just like that, they’d cut off their despite their face, would blow everything up, everything. Everyone would become protectionists. What do they want this for? The price would spike. No one would sell. Instead, they’ve been very slowly, quietly, not only buying it from every exchange across the globe that doesn’t reflect the price mechanism in New York, but probably even shorting it in New York to drive down the paper price, buying it at subsidized prices around the globe and then putting it lately at least a $5 higher price in Beijing, incentivizing all of the traders in the West.

Buy paper in the west and Deliver physical in China and capture that, spread that arbitrage and that metal never comes. That’s undermining us, right? I mean, because they’re convincing us to buy paper while they’re getting the physical. That is a big mistake, of course. And when you ask yourself who is standing for delivery to this kind of volume, it’s central banks, it’s sovereign wealth funds, it’s commercial banks, it’s Tesla, it’s Samsung, it’s Sony, it’s the biggest companies in the world and the biggest banks and the biggest central banks. These people forget about the wealth. How about the information? They’re closest to the information they do not spend billions upon billions upon billions upon billions right in your face with no media attention, which really makes it interesting for the hell of it.

They know the playbook. And when you’re at that level of wealth, you’re at that level of information and knowledge which is worth more than the money backing it. And these metals are being proven to be worth more than the dollars paying for it. And when you see all of these banks that are in essence internalizing physical silver exposure by owning it rather than leaving it floating in the exchange ecosystem, it should really wake people up. And that is one of the old sayings about gold and silver that Doug Casey made famous. And that is because gold and Silver are 5,000, 6,000 year old assets that are simultaneously no one else’s liability.

There’s no counterparty risk. And that’s a big deal. When you look at the behavior of the biggest money in the world suggesting that they’re prioritizing physical possession and removal of counterparty risk over anything else. Okay, well people will be pissed when they wake up and they realize that they haven’t been given the information. And there’s only a small subset of people that are benefiting. Because if you look at history, and I’m going to talk about World War II, when the. What happened in World War II is this very small top percentage of people knew what was going on.

They invested in the right things, then the economy collapsed and then they came back and bought everything out. That’s what caused all the hatred of this top elite group of people that they persecuted so much. I don’t need to name who they are, but that’s what happened. And it turned into a lot of persecution. It turned into really bad, ugly things. Are we going to see a repeat of some of that simply because the average person has been kept in the dark? Yeah, you may. And we see already a very much a K shaped economy like this, where the rich are getting richer and the poor are getting poorer.

And the reason that that happens is that the rich buy assets and their assets keep appreciating as the dollar that we think is a stable currency is disintegrating like a melting ice cube. And so for the people who don’t have assets, lower class in terms of income folks, they’re having a harder time making ends meet. And you know, it’s confusing because we’re told that inflation is only 3%, but the CPI should be called CP Lie in the Bureau of Labor Statistics. We should take L out of it and call it bs The CP lie as given to us by the bs.

And the thing of it is is that inflation is probably 11 or 12% according to John Williams of Shadow Stats, who just measures it the way it used to be measured prior to the changing of the metrics that the government uses to now support a inflationary agenda. And so when you talk about, you know, what’s happening, the folks who have been able to buy assets, their assets have gone way up. And you know, you can look at it for example, and I’ve done this so many times from memory, if you look, go back 20 years ago to 2005, the average price of a house was about $240,230,000 and gold was about 450 bucks.

You divide it into it, you get just over 520 or 30 ounces of gold would have bought you a house in 2005. And maybe you say, you know what, let’s keep the gold even though it doesn’t pay any interest, let’s just take out a mortgage, let’s buy the house. Great. Let’s fast forward. Today, the average price of a house is about $450,000. So your house doubled in dollar terms, but gold is at $4,500 or nearly. So you multiply the 4,500 times the 500 plus ounces, you’re at $2.5 million. It buys you five houses. So the point of it is your house has doubled in dollar terms, but it has lost five times its value in the face of real, a real measuring stick.

That is gold. It is the barometer by which we should measure. We are told the dollar is down 10% this year against the Dixie, the dollar index. But that’s a flawed measuring stick. There’s something called Triffin’s Dilemma that speaks to the world reserve currency that says as the reserve currency currency, you’ll always run trade imbalances because every country needs dollars to transact global business from buying oil to, you know, to anything as the global reserve, everyone uses dollars. So over time they have to sell their currency in the open market to buy ours because we don’t give them enough dollars to do what they need to do just through our trade.

So what you are doing is weakening their currency and strengthening ours. So we’re measuring it against a basket of currencies that is continually devaluing against ours. It’s a flawed measuring stock. Measure it against gold and any asset you own is falling in price in gold terms. It’s going up in price in dollar terms. This is what I mean about assets make you rich or feed you and liabilities eat you or make you poor. Liability being the US dollar, it’s literally performing like a melting ice cube where gold and silver, those assets that pay no interest, are wickedly outperforming because of the monetary and fiscal irresponsibility of our leaders who are pushing gold.

So yes, you will find, I believe, very wealthy people and a lot of people who have a hard time making ends meet. Let me just continue one further thought on that. Ray Dalio just came out with a speech where he said 60% of this country has a reading literacy rate at or below the sixth grade. So we’re uneducated, we’re broke, we have a $38 trillion debt and $200 trillion in unfunded off balance sheet liabilities. Medicare, Medicaid, Social Security, government, military, pensions. And here comes AI just at the time to kneecap 50% of entry level jobs and robotics that God only knows what will do to the labor market.

So you have very wealthy and very poor. It almost must move us towards, as we’ve talked about before, which you hate universal basic income because people are going to have a very difficult time uneducated. And we don’t make anything anymore, we don’t have manufacturing and the dollar is being inflated away literally as we speak. In the six weeks we were shut down during the last shutdown because of the debt ceiling, we added 600 billion to the debt in six weeks. And then you look at what’s going on in states like our home state of Minnesota or Ohio, where the fraud is rampant and people are going to start to say pretty soon, what the hell am I paying taxes for? This is exactly what they’re doing with our money fraud and waste and abuse and no one is ever really ever accountable for it.

So yeah, these are scary times because Gerald Celente has a great saying. He says when people lose everything, they Lose it. So will we. See, that kind of. It’ll force the UBI thing, create a lot of resentment. Well, you’re saying it’ll force the ubi and what I don’t like about UBI is it creates the same. It’s a self fulfilling prophecy. It creates the same. It magnifies the issues that caused us to need to do the UBI in the first place. In fact, as, as far as people not being educated, as far as people, when you’re down and out and educated is not the right word, informed, or you go out and learn and you figure things out and you develop skill sets and you, you come up with new ways of getting things done, you form new markets, you know, you, you get around why the AI is dominating, you figure out ways to work within the system in a different way that works and we innovate.

The UBI will keep that from happening. So that’s why I don’t like ubi, but I fully understand that the consequences of not implementing a UBI could be worse. And that’s so frustrating for me to understand that because, or to even think that way because my whole life, our whole training, our whole way of being is to, you know, take it up by the bootstraps and work hard and figure things out. And that goes against that ideal. But we might be screwed. Well, if you want to really blow your mind, people watching this, spend 10 minutes and Google the cloud piven theory and think of how the last administration implemented this.

And it was a husband and wife professor in Columbia University at the same time that, you know, you had Obama there, Madeleine Albright, Bill Barr, Eric Holder, they all ended up going to Columbia and learning this theory of how you change a capitalist society to a socialist one. And the things that have happened will blow your mind when you read it. And it seems as though that is the direction that, that indeed we are moving. And so, yeah, it’s frightening. It is. And you know, just to give you an idea of how frightening AI and how changing it is, I do videos with Mike Adams.

I think, you know, Mike. And when I get off, when we’re done with the video, he’s created a new, a new AI search engine, an amazing one. And he, and he also created a thing that makes books and they’ve done like 5,000 books in a few weeks. When I, my last video I did with him, Michelle McCrory and I were on his show and the minute the video was done, he’s like, I’m going to send you the book. I’m like what book? He’s like, the book about this video. And he sent me a book out of 200 page book on the video that we did for 45 minutes.

And it created a book with supporting graphs and charts and it’s insane. It was incredible. Insane. I know. And so it’s. What is happening with AI will have a profound effect on the labor market. And so the thing with AI, though, with that kind of stuff, because I use AI all the time, I’m not. If you’re a. If you are somebody who analyzes the markets, you analyze what’s going on in the world, you still have issues with its logic. You know what I mean? Of course. Well, it’s early too, but you’re right, you have to fact check.

Anything that I ever read, I fact check best I can because, you know, because there’s so much information out there, that much of it. Like there’s this new, you know, Asian AI guy that’s all over the Internet and I’ve never seen anything like it. And it’s almost like very wealthy smart people in Asia that are trying to wake up the masses on 100 channels. He’s putting out stuff in different channels every single day. 3, 4, 5 videos a day, a lot of it the stuff that we’ve been talking about. But he’s waking up the masses. It truly is extraordinary what’s going to happen.

But this is why it’s so important to own assets and mitigate your exposure to a currency that is inherently dying right in front of us and meant to die. All fiat currencies inherently retrace or retract to their notional value. A piece of paper at zero. That’s why owning assets right now has never been more important, ever. Yeah. Well, I also think circling back to people being pissed because they don’t know, I would push back and say, well, we have shows like ours, we’ve been working for years trying to get information out. Of course, I’ve been really censored and abused over the years, but the amount of work that we’ve done to try to get this information out there, there kind of isn’t an excuse this time as far as when the masses get hit hard, and they are, it’s going to get ugly.

Well, the only excuse would be all of the effort that you and I have put in and in particular the great work you have done. They make it hard to get it out. That’s right. And the world has become so hard. Sarah, when you and I were kids, you know, maybe our dad could go to work and our mom could stay home and raise us. I was a latchkey kid, both my parents worked. But the point of it is that now it’s become that both parents have to work so darn hard. They come back from work at the end of the day, they make dinner for their kids and by 7 o’ clock they’re exhausted, can’t keep their eyes open.

They sit down and and watch the evening news with a glass of wine and the next thing you know it’s time to go to bed and you start all over again. It’s hard to find the time and the courage to step out from the masses. This is why there’s entire thesis and theories of wave theory Kondratiev and Elliot wave which are measurements of human emotions and how they affect the markets because people are afraid to leave the herd. So the herd mentality experiences these booms and busts through you know, irrational exuberation and fear that move the markets.

But it’s the people who calmly and coolly understand and take the time to research and do their own due diligence that maybe see what’s happening right now and understand that this is all part and parcel of what we’ve been talking about for a very long time. We’ve been right and it would be nice for Wall street to admit they were wrong in my mind. But I mean they kind of did when the chief investment officer Morgan Stanley said, you know, the 6040 policy platform that Wall Street’s used for 50 years is now broken. Sell half your bonds and buy gold and with 20% of your assets.

And the lead analyst for bank of America, Michael Hartnett says no, make it 25%. And maybe the craziest of all is Jeffrey Gundlach, the bond king who’s made his fortune in his name selling bonds which pay interest, say you know, 25% interest in metals is not over positioned and, and not overvalued or overweighted. So it’s happening slowly but way at the top levels. The same people that are pulling off the metal off the exchange and standing for delivery. And the people that Michael Hartnett who his newsletters 10 12,000 a year to the institutionals and the chief investment officer of Morgan Stanley they’re speaking to the traders, the institutionals.

It will trickle down. It’s beginning to, but not to the degree I’d like to see it. Well and then when you, when the people who are suppressed are the ones who are calmly or trying to analyze systematically what’s really going on and giving people different ideas and aren’t extreme. And those are the ones they’re scared of the most. You know, that there’s something not right there. Well, bank of America, by the way, just came out a day or two ago. A research report using the gold to silver ratio, which a lot of us have talked about for a long time, saying they could see silver going anywhere between $119 and $309 in the near future.

And so you have these institutions which were very bearish on metals that are now espousing very bullish sentiment. You wonder, hopefully it’s not a psyop. And more along lines of saying, well, we told you so after all of these years of saying, don’t do it. Maybe this is their way of saying we were wrong. Get into it. Into it. Other than like that. Well, I also have to say, with the dollar going up, your analogy with the home, if the dollar was assessed properly, well, gold doesn’t need to have an interest because gold just goes up with inflation.

Right? Because it is wealth. But if the dollar was assessed properly, then you wouldn’t, it wouldn’t be that far off from what the house price is to what gold is. It just means that things are just not properly evaluated. Well, that’s the whole, that’s the whole trick, is that you blur reality. You know, when we were kids, you could take a date. And when I was in high school in the 80s, I could have 20 bucks in my pocket and bring my girlfriend to a movie and have popcorn and soda and candy and still have two bucks in your pocket when you came home.

Now 20 bucks won’t even buy you the popcorn and the soda. So it’s happening and we’re realizing it, but it’s something that happens very slowly. You know, I had Judy Shelton on my interview on my web channel, I, my podcast, sorry, my brain feels like a nerf ball. And, you know, we talked about how she said gold would back the treasury market to your point, which is. And she said it would happen next July when Trump would introduce the back end of the treasury market pegged to gold with no interest. And he would do that to reestablish credibility.

But the no interest, to your point, gold is the inflation hedge. But I asked her because she was Trump’s nominee to run the Fed. I said, I just got to ask you a question, Judy. Whose smart idea was it to have the Fed strive for a 2% inflation rate? Why not do negative 2%? Wouldn’t the lower the inflation rate be higher, the standard of living and her answer was very nauseating. She said it was Janet Yellen’s husband who said, listen, if we have stable prices, if the Fed strove for zero inflation and stable prices, why then the business owners could never give their employees a raise because it would continue to chip away from the bottom line.

So instead, if we strive for, say, a 2% inflation rate, why then the business owners could give their employees a 1% raise every year. And even though they think they’re getting ahead, they’re actually falling behind. And as gross as that sounds, she said that on my show so that they understand what they’re doing. And inflation is very slow and insidious. But, you know, when my father graduated college in 1963 and married my mother that year, he said, you know, Andy, your mom and I as newlyweds, could live on my first salary of $6,000 a year comfortably.

I said, come on, Dad, I googled it. The average salary in 63 was $10,000 a year. So first job out of college, why not? But think of what 6,000 bucks would buy you today. You could live a year on it. I don’t think so. So this is what is happening, and it’s accelerating now. Yes. And now what? Inflation was going like this, and now it’s going like this. But they change the metrics by which we measure it to keep us all off guard. And when we see things like a 3 or a 4% return on a short term treasury measured against 3% inflation.

All right, fine, at a 4%, we still make a percent. No, the real return is probably more like negative 7 or 8%. But we can’t tell you that or you wouldn’t buy our Treasuries and the interest on the debt would eat us alive. And. And, well, we’ve really screwed things up by suppressing interest rates and letting asset prices get way out of whack. So, boy, what do we do now? And that’s where we find ourselves in this pickle, so to speak. Well, let’s get into what people can do. I finally got my husband to take one of his IRAs and convert it to gold and silver, which I feel proud of.

But he wants to diversify. He understands the need to diversify. So he’s converting one of his IRAs to gold and silver. We’re in the process of that. But it’s not too late, right? I mean, people. I’ve had a couple people go, am I too late? I don’t. I think we’re at the beginning of this. Personally, I don’t think that we’re too late. Do you think we’re too late? And what should people do? When I started in this industry in 1989, I learned maybe the most valuable lesson, although I didn’t learn it for a long time. But I learned the beginning of the most valuable lesson I’ve ever learned investing and actually the only absolutes that I’ve ever learned, because we live in a world of probabilities, not absolutes.

And it’s very difficult to be certain about anything in this fluid world we live in, especially when you look back over the last five, six years. But the only thing I’ve ever learned in absolute, in terms of finance is that markets go higher to the upside than anyone will ever think possible and will fall further to the downside than anyone ever thinks possible. Case in point, the Japanese Nikkei. When I started back then, and they owned Rockefeller center and pebble beach, golf course and casinos in Vegas, and anything with a motherboard, digital or electronic, they made better.

Any engine. Honda, Toyota, Nissan were better than the Americans, and their Nikkei was 40,000. And then it fell all the way down to 12,000, with their interest rates at or near zero for the last 30 years. And now it’s not even quite back up to where it was. It’s been a whole generation. So that market fell further than anyone thought possible because back then people thought they were taking over the civilized world with their, you know, they were buying everything with their massive trade surplus because they were selling everything to the world, digital and cars and motorcycles and, you know, VCRs and TVs and stuff.

But on the other hand, at that time, the Dow Jones was 2100. And the first conference I went to in 1990, a guy was laughed off the stage for saying that that would go to Tom 10,000. Well, it did go to 10, but it also went above 40. The point is, markets go higher to the up and fall further to the down than anyone ever thinks possible. So, no, I do not think we are late at all. And if bank of America is even remotely close, saying next year they’re talking $5,000 gold and silver between 100 and 309, no.

And using the historical ratio between the two as a guide rail for that, no, we’re not late. Yeah, sure, it would have been better to buy earlier, but at The Dow Jones, 10,000 people should have been asking the same thing. And at 20 and at 30, so, no, it’s not too late, but the longer you wait, the later it becomes. And instead, if you’re uncertain. Instead of going all in, then employ cost averaging, take that amount you want to buy, break it into five or 10 tranches and bi weekly or monthly too, smooth out the uncertainty.

But no, I don’t think we’re late. I think this month and in particular today for the next week will be very volatile because what we have happening right now is the Bloomberg Commodity Index rebalancing. In essence, a lot of these funds that are by law have to maintain a allocation model. Silver and gold got so far out of whack to the upside that their models are way outsized in terms of share value or the share of the portfolio in silver and gold. So they are forced to sell and buy other things, maybe like natural gas or something like that.

But at the same time, when you do that and drive the price well, it’s good in the respect and it’s not good. It is and it isn’t. So there’s good for like people like us who want to buy right now because the price is going to go down because they’re selling and then it’s going to go back up. I think, yes, like a heart rate monitor. Because I believe as they do, that you have all of these people, these institutions standing, who are standing for delivery and the Chinese. Thank you very much. Thank you very much.

Thank you very much. And you also have what’s called the January effect. So as the funds are being rebalancing, being forced to sell, you have other hedge funds coming in that need to redeploy money after, you know, selling everything at the end of the year to book their profits. They’re coming in and buying stuff now. So between the deliveries on Comex and the lbma, the central bank banks, the sovereign wealth funds, the commercial banks, I don’t think it’s going to drop at all. Well, they come in and I think that will drop, but it will be quick.

I hope it drops. I want it to drop a little bit because we’re, like I said, my husband’s buying. So I want it to drop, not because I think it’s going to drop long term. I want to buy at a little bit of a dip because I see it going up. Well, we need to talk about one other thing in terms of the volatility and what they’ve used as their textbook book playbook number 101 and that was raising margins. And in 2011, as an example, when silver popped up to $50, they jacked up the margin requirement so much that the price collapsed.

Now, what is margin? They did it twice in the last three weeks here. The last one was the day after Christmas where the CME Group or the Comex says you need to put more money in your margin account to control silver. Let’s talk about it briefly. Before, on Christmas Day, you would have had to roughly have about $21,000 in your margin account to control a 5,000 ounce silver contract, which in essence is $350,000 worth of silver controlled with just 20 grand in your account. Right. They say the next day on the 26th, we’re raising margins by 30%.

So you need to now put another, what, $6,000 in your margin account, $27,000. So these traders who figure I’m going to go way in on margin and capitalize on this spike in silver and I’m going to load up on it, all of a sudden they need to come up with 30% more margin. So they’re forced to sell some of their contracts to cover their margin requirement, which drives the price down, which begets more selling and more selling. All of these traders on margin. Now, here’s where it gets interesting, right? And I’m going to use a real estate analogy because like if you go into a gated neighborhood where homes are 30, 40, $50 million.

I had lunch the other day at an owner of a major league baseball team’s home. He lives two houses away from Mark Wahlberg and Alicia Keys is right down the street. And these houses are all 30 to 50 million dollars each. And do you think they care what mortgage rates are? Hell no, they don’t. They pay with cash and it’s probably their second or third home. However, in a neighborhood like mine where a lot of the people are on mortgages, if mortgage rates jack up, what’s it going to do to the value of everyone’s homes? Going to go lower? Not in that neighborhood, but in mine it would.

And in yours it would. Now let’s change that over to the comex. So they jack up the margin rates. All of these traders who may have millions of dollars in their account, but they don’t have billions in their account, like we’re seeing billions stand for delivery every week and month. So these traders are over their head in who they’re playing with in the sandbox. They’re forced to liquidate their positions, which drives down the price. But who’s standing there not caring about margin are the sovereign wealth funds, the central banks, the Teslas, the Samsungs. Thank you, thank you, thank you.

I just bought it at 10, 20% less than it was Yesterday. Thank you. It’s an orchestrated attack on the longs that always killed the market. It not this time. Because what’s different this time than anything I have ever seen before is the standing of delivery. These contracts always had a standing for delivery option. But my whole 35 year career, no one stood for delivery less than 1%. So it was always a cash settlement or rollover. But never give me the medal. Now it’s I don’t trust the system, give me the metal. And that’s breaking the system.

Because you look at the London Metals exchange as an example how it will break it. They have 140 million ounces they call the float that’s backing the contracts that are outstanding. But there’s 2 billion ounces in deliverable, outstanding contracts. So if everyone stood for delivery, we got a problem. That 140 million ounces is about 15 times rehypothecated where everyone thinks that they own the same contract. And if everyone stands for delivery, one out of five or six or seven or eight or whatever, whatever, 140 into 2 billion is 15 or whatever. Well, one out of 15 gets their bars and everything else goes poof.

So yeah, it’s a very crazy, crazy time right now, Sierra. And we’re watching it unravel as we speak. And the old tricks that they use to hold it down ain’t working so well anymore. So no, it’s not too late. But do not expect the month of January to be easy on your indigestion for the next two weeks. I expect great volatility. But in the end, I think by the time we get to February, the price is much higher. I think so. I think it’s just going to be really volatile. But that, that’s a, that’s not a bad thing when you’re talking about putting money into it.

Okay, so people need to go to sarah wesdall.com Miles Franklin. Fill out that form, get access to your private price list. You’re a company, I keep saying this you can trust. You’re somebody they can trust because this market is filled with a bunch of scammers and we’ve seen that. So thank you for everything that you’re doing and how you’re informing people and thanks for coming to my show. And I think we’re gonna have an amazing 20, 26. Yeah, I think we are as well. And it’s an honor to be here. And I think you and I are doing every other week.

I’ll see you in, in two weeks. But I, I wish you nothing and your family a very, very healthy, happy, prosperous 2026. And if something before the next two weeks becomes crazy in this volatile world wouldn’t surprise me. I’m just a phone call away. But until then, I’ll look forward to seeing you in two weeks and picking up where we left off. Thanks, Andy. We’ll talk soon. Bye. Sarah. Sa. Sam.
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