Interest Rates Gold the Economy: What Happens Next?

➡ This podcast features Micah Haynes from Noble Gold discussing the current state of precious metals and the financial system. He talks about the increasing recognition of gold and silver as legal tender by states, and the tax implications of investing in these metals. Micah also discusses the regulatory requirements for buying and selling bullion, and the impact of central banks’ gold accumulation on the future of the gold standard. He advises investors to work with a CPA to understand tax implications and to consider diversifying their portfolio with physical metals as a form of insurance.
➡ The article discusses the potential for a financial crisis due to an “everything bubble” in the bond, stock, and housing markets. It suggests that physical precious metals like gold and silver are still reasonably priced and could be a safe investment. The article also mentions China’s efforts to control paper market speculation and the potential for real price discovery in gold and silver. Lastly, it discusses the impact of changes to import duties and taxes on gold and silver in India, and the possibility of a rate cut later this year due to lower CPI numbers.
➡ The Federal Reserve’s new chair, chosen by Trump, surprised many by taking a hawkish stance in his first meeting, causing a spike in the dollar and a drop in gold, silver, and other commodities. However, it’s expected that he may adopt a more dovish tone in the future, possibly leading to a rate cut. This could boost the value of metals, especially if the Fed’s tone is dovish and inflation decreases due to lower oil prices. Political factors, such as the upcoming midterms, could also influence the Fed’s decisions, as a rate cut could benefit the Republicans.
➡ The article discusses the potential return to a gold standard due to the instability of fiat currencies. It highlights the historical trend of fiat currencies failing and the current trend of central banks buying gold. The article suggests that the current currency system, which is not backed by gold or silver, may not last forever. It encourages people to consider investing in gold as a safeguard against a potential currency crisis.
➡ Investing in physical gold and silver can protect your wealth from various financial risks, including those in the banking and stock market sectors. This strategy can also help in the event of currency crises. The podcast host encourages listeners to consider Noble Gold, the show’s sponsor, which is currently running a promotion. The host concludes by advising listeners to prepare for potential financial changes in the fall, suggesting that now is a good time to secure financial “insurance” like gold and silver.

Hi everyone, and welcome to the bi monthly podcast with our main financial sponsor for the channel, Noble Gold. And we have the one and only Mr. Micah Haynes, senior Sales manager, joining us, as he always does graciously from his offices in California to discuss all the major things that are happening with precious metals and the financial system as a whole. So be interested to get his insights, per usual. If you’re new to the podcast, please do like, subscribe and share. Helps the channel grow and others gain the knowledge you’re currently being afforded. As you know, Mike has been with noble for over 10 years, has a stable list of clientele that he’s fostered with trust, respect and integrity for many years.

He’s brought that to some of my clients, some of you watching as well, and some of you that might be joining in the future. So I’m pleased and honored to have back, as always, the one and only Mr. Micah Haynes. How are you doing today? Good, sir. Really well, John, thank you so much. Yeah, it’s always a pleasure to be on your show. Thank you. So it’s a privilege for all of us. Okay, so right off the gate, let me ask you the first question, Micah. As more states pass legislation to officially recognize gold and silver as legal tender, how in your estimation, should investors navigate the conflicting dynamics, dynamics of state level tax exemptions versus federal capital gains taxes? And what are the best ways to purchase and own gold and silver? Yeah.

Thank you. So, as you know, it is an encouraging trend to see these states recognize gold and silver as actual money. And many of them eliminating sales tax on the purchase of physical gold and silver because you shouldn’t be taxed on, you know, buying money. Basically, you know that constitutionally, gold and silver are recognized as, as the only forms of acceptable money. And so, you know, many states have eliminated sales tax, many states have eliminated capital gains tax. States like Texas, Florida, Wyoming, Tennessee, Utah, South Dakota tend to be among the most bullion friendly. But as you noted, we’re based here in California, we’re a national dealer, we help clients all over the country.

And there is no sales tax paid on any purchases with Noble Gold because we have a, a very reasonable minimum. But in California, anything under $2,000 purchase wise, ends up being subject to sales tax. We don’t do purchases for under $2,000 to avoid that completely. So when you’re buying metals for home delivery, you pay absolutely no sales tax whatsoever. And obviously within an ira, the added benefit is that you’re buying precious metals that will grow over time and appreciate over time. And when you eventually do sell those metals within your IRA, you pay no capital gains.

Now, IRAs are obviously subject to RMDs and various taxes at the point of withdrawal, depending on whether it’s a traditional IRA or a Roth. But one of the best things you can do is rollover funds from an existing IRA account tax free, penalty free to buy bullion that will also be free of any taxes on the profit that you make over the time that you own it. And so the tax landscape is changing, it’s improving. We’re obviously very encouraged to see these more conservative states recognize gold and silver as money and eliminate sales tax and capital gains.

But you also just want to be, you know, aware of federal capital gains tax and work with your CPA whenever you’re dealing with any kind of big profit situation outside of an ira. And you want to know what your tax brackets are going to be. Good advice. Thank you, Mike. I appreciate that. And you also have heard President Trump beating the drum with no income tax. And now with the respective data centers, you talked about no capital gains tax or property tax, specifically nationwide. So you can see the rollout as we are going back to the gold standard through the golden age, the repercussions in a positive way that’s having for the new economy.

Incoming. Considering the regulatory updates and FinCEN reporting standards for physical bullion, what are the critical compliance steps an investor must take in order to avoid tax penalties? Yeah, so this one’s interesting. We’re not a cash based business, so we do cash purchases. But you would send us a wire. But we don’t actually handle physical paper cash. Certain local coin stores and bullion stores do. So regulatory requirements for cash purchases for local bullion stores are actually pretty stringent. They do file reportings about purchases and sales made in cash. There’s thresholds obviously, but you know, you want to be very careful because essentially the sale or purchase of your bullion can end up being reported for us because we’re not a cash based business.

We take bank wires. It’s the only format. It’s the safest and the fastest way to be able to transact for cash and home deliveries. We don’t have those requirements. And so there’s basically this is an added bonus to working with us. There’s no reporting about what you bought, what you own, where it was sent, what you paid, or anything like that. Now, as well as when you sell with us, we are not involved. Of course, we encourage you to work with CPA to understand if you bought $100,000 worth of metals when silver was 20 bucks and gold was 1800.

And you’re selling here, we’re just sending you the cash back. Right. We are the full service broker dealer that gets you into your metal, gets you out of your metal. We don’t report that you’ve made a big gain, but you do want to be cautious and you do want to work with a cpa. And we advise our clients who are selling for big profits that they do want to just understand the tax implications based on again, the state that you live in, your capital gains, your other tax brackets that might, might play into that. So you know, you want, you want to know that working with us, there’s no reporting requirements because of the way that we’re structured.

But when you do go into a local bullion store with cash, because they are potentially cash business, there actually are more stringent requirements about filing and reporting and that might actually be a bit of a privacy concern down the road. Fair enough. Thank you for that, Micah. Given the unprecedented levels of gold accumulation by foreign central banks we talked about before, how will sustained institutional buying shape the long term price floor for retails and retail investors? Will it result in a gold standard or a fractional gold backed system? Yeah, so I think whether we return to a full gold, you know, gold back standard or a gold standard globally, or if we just have some kind of partially gold backed settlement system, we’re definitely seeing movement in that direction.

It’s, it’s been happening for many, many years and as you know, central bank buying is at record levels. China’s been buying at records that are absolutely unprecedented. They’re off the charts this year. They bought more in Q2 this year than they did in all of last year in 2025. And then they bought twice as much in Q2 of this year than they did in Q1. So it’s actually been accelerating their accumulation. And that’s what I, it has, it’s, they’re accumulating at these lower prices. They help support the gold price. And you know, we almost have a bit of a floor here at 4000.

We’ve been wiggling and wobbling around this level for many months now and silver kind of in the 60 range. And of course we know that some countries are buying silver handover fist as well as a strategic commodity included in the U.S. and so look, I think eventually we do return to a gold standard. I think that that happens after the next big print, which I’ve said on the show. The government response will be when we eventually have a stock market crash of historic proportions. We have all the telltale signs of a bubble that is bigger and larger and more leveraged than any we’ve, we’ve ever had.

The BIS actually recently, that’s the bank of International Settlements and the way to think of the BIS is they are the central bank for central banks. They issued a warning a couple of weeks ago that they are extremely concerned with the credit facilities and the leverage and the credit markets that are supporting the AI boom and it’s not to be taken lightly. The BIS wouldn’t actually raise a warning like that just out of nowhere. They’re, they’re obviously concerned about systemic risk. And again my opinion is a gold standard is inevitable, that we have to return to one once we’ve destroyed the currency through overprinting.

And I do think that we’ll overprint in the next big financial crisis, which at this rate I can’t tell you when we’ll have it. But I don’t think it’s far off. I’d say it’s within the next year or so. And that’s why preparation and protecting your portfolio and getting some diversification into phys metals as an insurance policy, this is the best time to do it. And again that’s underscored by all the central bank buying. If they thought it was not a good long term investment, they wouldn’t be buying it here. They’re not speculators, right? They are looking after their own currencies, their own national wealth.

They’re concerned about systemic risk and if they’re buying it, you should be buying it as well. Perfectly said and I agree with you. I think it’s actually going to be sooner than a year. I wouldn’t be surprised if it’s in the next quarter. And I would include with that a real estate crash because typically when the market goes, the real estate follows. Because if nobody has any money, who’s buying a house? Right. And actually what’s what we refer to right now, it’s not just a dot com bubble or a housing bubble or a stock market bubble.

It’s an everything bubble. Right? The, the bond market has major issues, the stock market will have major issues. The housing market’s the most expensive it’s ever been. So we have essentially asset inflation across the board. The only asset class that is still reasonably priced and, and virtually risk free are the physical precious metals. And so we see that obviously as a place to be for safety first and foremost. But as you know, there’s a time and a place where you get paid extremely well, to own the right assets in the right conditions. In the current context, we think that gold and silver are obviously set up for many, many years of outperformance still.

And yeah, once the everything bubble pops, the government has no choice but to do the two things that it always does, which is to dramatically lower rates, print money like crazy in order to bail the boat and provide the system with liquidity. And you know, we started really with quantitative easing and kind of the modern, modern monetary theory after 2008. We printed $9 trillion out of thin air in the year of 2020 with the COVID lockdowns. And in my opinion the next crisis again within a year is my opinion could be a quarter or a couple of quarters.

Once we have it, we’ll probably see money printing from the Fed to the tune of I think 20 trillion. And that’ll be what destroys the dollar. That’ll be what dest currency. That’ll be what forces their hand to have to now re institute a gold standard to essentially reinstill confidence in the dollar and in the currency’s ability to perform its two main functions of holding value and then therefore being used as a unit of exchange and a unit of account. Indeed, indeed. Thank you, Micah. How does the Shanghai Gold Exchange influence over physical gold compared to the western paper markets like comex? Won’t the gold and silver price ultimately be set by China? I would say a couple things very encouraged to see that China has recently and I think they come into effect today if I’m not mistaken.

John, July 24th we see China instituting restrictions and controls on paper market speculation. So they’re increasing margin rates, they’re making it a lot more difficult to buy paper, gold and silver. And I think that they’re trying to tamp down or eliminate the ability for, you know, the speculators and traders to manipulate the price by flushing paper, gold and silver that doesn’t actually exist. So the Shanghai Gold Exchange is predominantly a physical metals exchange where you settle your trade in actual metal. While the Western exchanges, the COMEX and the lbma, they still are predominantly paper settled exchanges.

Like there’s not enough metal there to ever settle the amount of, you know, paper ounces that are currently trading at any time. And so I think that this is a positive step. I don’t know if China will ever solely be setting the gold price, but it’s certainly there of much bigger market. They’re a growing economy, they probably have a bright future with respect to, you know, global trade dominance and economic dominance and those types of things. And so I think if they’re doing these things, maybe we’ll not be too far behind. But as you know, gold and silver are highly manipulated.

China making these moves to tamp that down and allow the gold, gold price and silver price to be set naturally by a physical settlement is a positive step. But I think that the, you know, the Ponzi schemes and the house of cars that we have at the LBMA and the comex, they’ll keep that stuff running as long as they can, I think, to essentially prevent real price discovery on gold and silver. And what that does is it allows them to artificially suppress the price of gold and silver, which is again, somewhat beneficial to central banks, institutional investors, hedge funds, billionaires and stuff to accumulate it in the meantime while price is still low.

But eventually it’s going to find its real natural price. And I think it’s obviously much, much higher for gold, it’s much, much higher for silver. And so that kind of again, underscores the kind of slower seasonal price weakness that we’ve seen for gold and silver over the last six months. Coming into what I think is a pretty close to the bottom this or last week and, or maybe next week, we’re really close. We don’t try to time an exact bottom. It’s almost impossible to get the exact tick. But when you’re buying with enough years in mind, as far as your investment horizon goes, the.

The risk reward here is extremely, extremely positive for physical gold and silver. So in essence, Mike, if I’m understanding what you did as a summation correctly, China’s sort of attempt to try to manipulate and control it is ultimately going to lead to the unwinding of the slingshot for precious metals. The manipulation of pressure is going to end. I think it’s one step closer to real price discovery. Absolutely. Okay, thank you for that, Mike. In India, how do the recent changes to import duties and taxes on gold and silver affect normal buyers and the Indian economy as a whole? Because, as you know, they had to step in this week, the central bank to keep the rupee from crashing entirely.

Is this one of the reasons that the silver price is going down presently? A couple things. So lower import duties generally reduce, you know, costs for consumers and stimulate jewelry and precious metals investment. Obviously, India, culturally is one of the countries that just has a rich, rich history of regarding and valuing physical gold and silver. And per capita in India, you’ve got the highest ownership of gold and silver anywhere in the world. Again, from ornamental and jewelry and weddings and gift giving and these Types of things. So I think that seasonally, again, this is a natural time of the year for gold and silver to kind of have weaker prices.

If you overlay five decades worth of price data, you’ll see that June, July often are the bottoms for the remainder of the year. And it happens to be, you know, a few things. I think the seasonality, some of the stuff that’s been going on in the east or in Asia definitely plays into that. But just naturally this is a great time to buy gold and silver. But with, you know, this seasonal price price weakness, it’s maybe not the best time to sell. But so these are just many factors that are playing into why we have a lower gold and silver price.

But again, they’re holding on to these floors. $4,000 gold, we don’t seem to want to break below that. 58, 60 silver, we’ve been stuck in this range for some time now. And so, you know, short term price movements can be noisy, but long term global demand, especially with central banks and institutions and stuff like that, you know, gold and silver still have a long way to go before we’re at that point where we believe that they’re relatively well priced compared to other assets. Yeah, I mean, to me it all just points that something has to give.

As you said earlier, we’re another step closer to that inevitability. Micah, the core CPI numbers came out recently at a new low of 2.6%. This should have a systemic effect on prices down the line, including gas, food, and most notably interest rates, which will invariably have to drop. When would you imagine we would see our first significant rate cut? Maybe September or maybe sooner, now that Kevin Warsh is having a meeting here, which there’s a lot of speculation about what he’s going to do, either a pause or reduction. And would you see it being as aggressive as 1% or even deeper? So I think a rate cut later this year, potentially in September, is certainly possible if the data continues to cooperate.

As you note, CPI has come down, oil prices have come down. That kind of ripple effect from the conflicts in the Middle east is helping give the Fed some flexibility. Of course, when they met last month in June, Kevin Warsh’s first meeting, he came out trying to be, I think, as neutral as he could. But obviously the interpretation of his tone was that he was quite hawkish, referencing higher oil prices and higher inflation because it had been rising for a couple of months into his first meeting. He’s trying to be, you know, data dependent, much like Powell.

And to me that’s a bit of a shock because this is Trump’s pick for the Federal Reserve chair. And Trump’s been asking for Fed. For the Fed to cut rates for years. And so to have the, you know, the guy that Trump wants in that position come out a little bit hawkish in his first meeting was a bit of a shock. Obviously, it spiked the dollar, it pulled the gold and silver price down along with other commodities, and it also gave a big kick to the stock market. So I think this fall would be sort of the soonest that we would expect a rate cut.

Definitely not at their meeting next week, but everyone will be waiting with bated breath to see what kind of tone Kevin Warsh addresses everyone with. And my opinion is it’ll probably be slightly dovish and say that the data is encouraging, maybe giving them a little bit of wiggle room to come out a little bit dovish and not promise rate cuts, but suggest that if, again, the data continues to cooperate, that that’ll be good, essentially allowing them maybe to consider one. The other big thing to consider, though, John, is obviously, we’re in a political cycle. We’ve got midterms in November.

I think the bigger kind of overlying theme is that, again, worshipping Trump’s pick, he can’t come out extremely hawkish again for fear of actually spooking the stock market. And spooking the stock market would be one of the worst things that could happen to Trump again. We have the highest, pretty much the highest that the stock market’s ever been, the most overvalued stock market by many, many metrics. You know, guys like Warren Buffett have been holding record amounts of cash for many years now. And these are disciplined investors that look at the long term, not the short term term.

Not to say the stock market can’t go higher, but with any negative news about rate hikes, which would be bad for the stock market in general, it would probably create a lot of political turmoil for Trump going into this fall. So I think that there’s a big awareness factor of. Of them not being able to hike and not being able to talk too much about them. And certainly having the data show that inflation’s coming down with lower oil prices. I think, again, that gives them all the reasons to come out a little bit dovish. And to me, that would be basically rocket fuel for the metals.

And I think that that’s why. Did we see the low last week? Did we retest 56 this week? Is it kind of a double bottom? Do we maybe have to try it one More time next week. Well, if they come out really hawkish, yes, I could see that happening. But if they come out really dovish, I could see the metals flying out of this zone and getting back into the 60s and 70s for silver and probably back upwards of 4,500 for gold. And obviously that would coincide with this seasonality kind of naturally ending. And we always have a very busy fall for precious metals as far as price appreciation going.

And so I think that this, you know, all the stars are kind of aligning for us to probably be in the low point right now and for us to see a dovish, a dovish fed, and to see the metals uptrend resume in a very strong way through the end of the year. I agree. I think that you’re seeing sort of wind in the sails begin to pick up the end of this month, which would lead right into September for a rate cut. And just this continuity of flow. And let’s not discount and forget the former Fed chair, Powell is still there gumming up the works, trying to create division a sour grape.

So that’s creating some of this friction point. Yeah. And actually that’s a really astute observation and something worth talking about here just briefly, is Powell because he’s being sued or these criminal charges, pardon me, that he’s defending himself against. And until he said that, until that concludes and he’s kind of off the hook, he’s not going to leave the, the FOMC as a, as a voting, as a voting member. At the last meeting, it was nine out of 18 voted for rate hikes. And again, the tone that War spoke with was a little bit hawkish. So everyone interpreted, oh no, they’re going to have to raise rates.

And that’s, that’s what they’re implying. Well, one out of those nine votes was Powell. And Powell obviously wants to throw a wrench in Trump’s gears. Obviously they’re quite combative and have, have had many conflicts over the years. But if Powell wasn’t there, if Trump hadn’t sued him, he probably wouldn’t have voted in favor of rate hikes and you probably would have had 10 to eight. Right. Which would have then been interpreted as, you know, this is devish. We were going to have rate cuts. And, and, and that would have had the opposite effect on the medals over the last month or so.

And so I, you know, his presence there is definitely, like you said, he’s kind of gumming things up. He’s trying to make things a little bit more difficult. But to be honest, Trump kind of brought that on himself. If he hadn’t sued him in the first place, you know, for whatever criminal charges it was for not lowering rates, we wouldn’t be in this position where he’s still there and he still has a presence on the board. So I think that stuff will eventually get resolved. And like I said, I think naturally they’re probably going to try to not spook markets between now and the fall.

And then certainly I think with this looming financial crisis, they’re going to be cutting rates like we’ve never seen. 1% will be nothing. We’ll probably get 1% few months in a row once we’re in this and they won’t be able to cut fast enough to save us from what’s coming. So, you know, we will see again the big print, lower rates, probably 10, $20 trillion worth of money printing all over again over the next year once the bubble pops, the everything bubble. But that pin still has to prick. Agreed. And just a great point made, Micah, and articulating that.

But also to add to that, we’re coming up on the midterms now. We don’t get political, but politics have a way of influencing and affecting financial markets. So all the more incentive for them to cut rates, particularly if the Republicans want to not only maintain but grow the power base going forward next year into 27. That’s right. And they’ll be mounting political pressure to cut into the fall. Right. And I think again that’ll be supportive of a much higher precious metals price. But whether they do or they just talk about it, I mean, we’ve never seen a time where what the Fed says and not even what they say, but how it said it’s never been as important as it is now.

Right. It’s, you know, Fed chair tone has never been a huge topic up until the last few years and now it’s more important than ever and more relies on it than ever. And again, it’s not just, you know, people’s wealth and people’s retirement and the financial system and all this stuff in the global economy, but it’s also big political cycles and political agendas at play here. So it just makes it all the more interesting. And I’ll be tuning in, obviously, and I think it’d be good for us to do some kind of recap after next next week’s fomc.

So they meet on Tuesday. The statements are always on Wednesday. And so, you know, does that mark the low for the medal for the medals or do we get a devastation much? Fed and blasts off and we’ve already seen the low last week so a lot remains to be seen. But again, I don’t like to split hairs. You know, if you’re going to buy at 58 or 56 or 54, 60, it’s all within a 10 range. In hindsight, buying metals with anything sub 100 as far as the handle goes is going to be looked at as like man, I should have just bought more.

And again, you know that my long held targets for around 2030 is $10,000 in gold and 3 to 500 in silver. Some analytics analysts agree that that could happen sooner, something that it might happen a little bit later. But as you know, I kind of give a middle of the road quite conservative and and this is again a multi year hold. Right. It’s protection first. We have a huge transition of wealth coming as well as we switch back to this system that emphasizes the importance of physical gold and silver not just for institutions and countries and central banks, but for individuals as well.

And we still have a very, very low overall ownership of gold and silver silver amongst the American populace. Right. It’s almost nothing. It’s just a negligible, it’s a blip. So we’ll see much more conservative traditional allocations to gold and silver before this is said and done. But we have a long way off yet. And again that just highlights what a great buying opportunity it is right now for people to get in that don’t yet have some. And again a lot of my clients who own it much lower are still accumulating here as well because it’s the best buying opportunity we’ve had in the last six months.

Exactly, exactly. Well said. So I’m going to show you a couple little things at the end here. Mike is bonus to the podcast. I know you like visuals so I’ll start with this one here. This is President Trump and his True social A couple, a couple days ago you probably saw it, a lot of people focused on the, his, his Liberty Gold Coin and thought he was just promoting himself or in his business. But what they might have failed to realize, as you can see behind the image here, I blew it up a little bit. This is the vault internally.

This is also seen on X22 as well. As you probably know, he’s also a sponsor of Noble Gold. You can see. Yep, Dave’s great and you can see it’s replete with gold bars. So he’s obviously sending a message to the central bank. Their days are numbered. Yes, we do have the gold and we’re bringing that into the golden age. Now let me show you another one that complements that point. Micah. This is Jesse Waters on Fox interviewing Treasury Secretary Scott Bessant a few days ago talking about the gold. So I’m going to play this and then just take your your impressions on it if you to want will, please.

Absolutely. What are we looking at here? These look so these are the displays of our currency over the years. Some of it. We used to have silver certificates. We used to be backed by silver, sometimes gold. And then in the 70s we just went to what was called fiat currency where you didn’t have to keep gold or silver in the vault. If any of these are are still outstanding though the silver or gold for them is the at Fort Knox waiting for them to be claimed if so needed. Have you visited Fort Knox? I haven’t. I haven’t.

People on my staff has. We’re going to the treasurer’s office. The treasurer has been to Fort Knox. I am happy to say. All gold is present and accounted for. The US has the largest pile of gold in the the world, over a trillion dollars at current market value. And we’re getting more gold. Notice what Jesse said there at the end. We’re getting more gold. So we haven’t even reclimated all of the stolen gold from all the different countries Vatican parliament that are there. And, and I think it’s important before you respond that we’re not going to revalue gold at 42 an ounce, particularly with that glut.

So that trillion doesn’t really effectively interpret and translate what the real value is. But your thoughts on the that yeah, so kind of in reverse order. So he’s right at $4,000, 80100 tons or 261 million ounces equates to a trillion dollars. We’ve talked about this how mechanically there’s an account at the treasury called the gold revaluation account. It’s been used a couple times in history. We don’t ever sell the gold that we hold in reserve. But when we reprice it and put it on the Fed or sorry the treasury balance sheet at whatever the new price is, it actually creates creates new cash without having to raise taxes or cut spending into the gold revaluation account.

So 8,100 tons at 4,000 equates to a trillion dollars. We have $40 trillion in national debt. So obviously people are talking about how, you know, actually repricing it from 42 to 4,000 isn’t enough to make a dent to do anything to the national Debt, it’s really just a drop. I think, you know, the trillion dollars represents one year of debt servicing in terms of the total total cost that we pay on the national debt, which is a ridiculous number. It’s the largest line item in the budget is just debt servicing at this point in time, which is scary and highlights the, the concerns that people should have about kind of this doom loop of debt.

And you know, the deeper you go in, the more it costs you with a weakening economy, the less you raise and all this stuff. And so I would say, you know, they will need a much higher gold price if we’re ever revaluing it to do anything to the national debt or to get us back to, back to a gold standard. The old gold standard was 40% of all the money in circulation had to be backed by gold. So just to give you kind of numbers, if we had a billion of dollars in currency circulating, you needed $400 million worth of metal in the, in the, in the treasury.

Now we have so much money in circulation now with all the aforementioned money printing that you know, Jim Rickard’s number on this is you need $28,000 gold just to get back to, you know, a very minimal threshold and that’s obviously much higher. To eliminate the debt overnight you need $150,000 an ounce gold. That would equate to 40 trillion. You could wipe out the debt if you wanted to just do that and get back to some kind of gold standard. But that’s extremely, extremely unlikely. But the thing I take away from that video the most, which I think that people should be understanding the most, is that look at how many different currencies we’ve had in the past.

He says in that frame, that gilded frame, it’s these are all the previous currencies that we’ve had. Some were gold backed, some were silver backed. Now we’re just on fiat. This is the only time, John, in global history where the entire world is operating on fiat. Every single country, every single central bank just has paper currency, is not backed by anything. It’s the only time in history when every single government has been operating on a fiat system system. And the risk with that is that, you know, Voltaire said this way back in the 1600s is that all fiats eventually fail.

Now pair that with the trend that we’re seeing where central banks are buying golden gold and silver, but primarily gold as a neutral monetary reserve. They’re buying it like crazy. Why? Because like fashion, you know, history and cycles and things come and go, come in and out of fashion. And we do always see fiats go back to a gold standard at some point. Again, in my opinion, it’s after the next big print, when we destroy it, will return to a gold standard. And so it’s just people think of money as paper money, as currencies, but gold and silver, again in the Constitution.

Your first question in this interview. They are money. They’re the only thing regarded as money in the Constitution. And so we have these changing currencies over time, these changing money systems that eventually will all kind of all roads lead to gold. And so we will end up back there. And I think that people need to consider, how much money do you have in your 401k? How much money do you have in your IRA? How much money you have in the bank? Well, you actually don’t have any money. You just have currency. You just have currencies that don’t, that do not last forever.

And as you know, again, all the various currencies from the past that are framed there, think of it as the currency that we’re in right now will not last forever either. So in Western civilization going back 500 years, over 700 currencies globally have come and come, gone, many of them here. But we’ve just been in the current currency system since 1971, since we officially came off the gold standard. And so, you know, being 55 years old in 2026, do we have five years left, 10 years left, two years left? That part nobody knows. But on average, across those 500 years and those 700 currencies that have come and gone and all failed, in Western civilization, you have an average lifespan of about 40 years.

So we’re overdue by that measure. Right. We’re actually kind of pushing our luck at this point. Now, how quickly will this stuff all play out and happen? I don’t know. No one knows the answer to that. But I’m not waiting to be a day late. I’d rather be 10 years early. And that’s kind of what I’ve been doing. I’ve been doing this for 10 years. I’ve been stacking in preparation for this. It’s treated us very well because we were accumulating at such low prices many, many years ago. But again, look at this as your retirement, your savings, your nest egg is at risk.

Not because it’s in the bank and we could have a banking crisis, not because it’s in the stock market and we could have a stock market crisis or stock market crash, but because it’s in the Currency. And we’re bound to have a government debt and currency crisis at some point. So you need to think about, you know, what do you own, what do you hold for what reasons, on what kind of time period. Doesn’t mean you go all in on gold and silver like someone like me does, because I have such a high conviction. But you have to understand that you essentially are taking the risk of not owning some format or some form of your wealth in the format of physical gold and silver, which is virtually risk free when it comes to longer term trends, and again, eliminates all the various systemic financial system, banking, stock market and currency risks that are present.

And they are very real. Right. It’s, it’s a real and present danger, you know, not Tom Clancy here, but it is. And I’m not trying to be sensationalistic, it just is. But it doesn’t mean it happens tomorrow, doesn’t mean it happens in six months. But again, you’d rather be years early than days late. Well, it’s a ticking time bomb. That’s, I think, the key to your point. And you’d rather be on the right side of the landmine than the wrong one. So gold can destroy the Fed. It can can repatriate the new currency or the old currency, the treasury notes.

Right. It can remove the debt and it can also power up all these other currencies that have assets in the ground globally, which is what we’re seeing happen right now as countries are choosing to remove the corruption, get rid of central banks and get their rights back. Because everybody wants freedom. And what could be more freeing than God’s money and precious metals, as you know. So thank you for that. Exactly. Be your own bank. Yep, absolutely, man. Be your own bank. And this is the best way to do it sooner than later. So as we wrap up the podcast, podcast, as you know, Noble Gold, as I said, as always, Top show is our primary financial sponsor for the channel that makes everything possible.

So thanks to Noble Gold for that. And to that end, Noble Gold’s running a promotion for the remainder of July, as you can see here, for a limited time only. Any cash purchases, rollovers of annuities, 401k IRAs, pensions, like Micah alluded to in the beginning, they are offering a free 10 ounce bar of the 250th anniversary commemorating our country’s independence in 999 silver. For qualified accounts to that you can use noblegoldinvestments.com forward/jd metals is my promo code. Or if you call in, just mention my name and the podcast that you saw is here. Please do that because it helps for posterity and Micah and or any of the qualified team will give you the best quality and service.

No pressure, lots of advice, information, lots of questions from their end to really understand what your specific needs are. And I don’t think Mike would be here for as long is in this tenured position if this weren’t the case. He’s handled some of my clients as well. I’ve heard resounding feedback to that. We want you to experience that as well. So please do call or click on the link below in the description with my promo code and you’ll just get a simple form you fill out and they’ll talk to you and just go from there. And when you’re comfortable, you can move at your leisure.

Micah Haynes, as we turn things over to you for final words. Thank you for joining us and any last thoughts you have for the audience today. No, that was great, John. I appreciate you as always and your thoughtful questions and it’s just an interesting time. I, I, I hope that people are enjoying their summers, not thinking about finances. I know that’s probably what you should be doing. Go touch grass, get on the beach, see your family, get some sun, stay safe. And I think that this time should be used, though, as just a bit of a reflection about where we’re going in the fall.

Things are going to change from being kind of relaxed summer mode to being very intense and very, very, I think, stressful with different things going on internationally, domestically. And again, you know, you don’t want to be calling for insurance when the storms kind of come in. Right. Or, or upon you, you want to kind of have your stuff in place while it’s still, you know, pretty low premium on, on this insurance, which again is kind of the best, the best type to own for what’s coming. So no, that’s, that’s it as usual. I really appreciate you and thanks for everybody’s time.

Thank you, Micah. Agreed. And we’ll have to see where we are in August as the month of new beginnings. Should be a very interesting, exciting time. As you said, things summarily pick up. So we’ll see you again in August. Thank you, Micah Haynes. Have a great rest of your weekend and we will speak soon. Thanks, John. You too.
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