hi this is mike maloney and i'm joined by jeff clark and adam taggart once again jeff what have you got for us today hi mike we've got our full schedule today slate of things plus a great meme from one of our good friends in the industry so stick around for that adam thanks for joining us and i notice in the background there you're joining us from somewhere different so tell us where you are yeah i'm on the road this week i'm out in virginia and i'm on my way to swope virginia


which is the home of polyface farms where joel salatin runs his operations for those not familiar with joel if you've seen any of the food documentaries like food inc or fast food nation or you read michael pollan's omnivore's dilemma uh joel is featured in all of them he is known as america's farmer uh really the poster child for sustainable farming so i'm going to go out to ground zero for sustainable farming in america and learn from joel directly how it's all done that sounds great uh we'll want an


update on that adam so well we're gonna jump right in here's our article of the day and it's from zero hedge titled the great reset is here the new blueprint for worldwide inflation and zero hedge is basically referencing an article written by james rickards who's basically talking about uh the imf's sdr so the international monetary fund and their sdrs is uh special drawing rights it's sort of the uh well it's not a currency and it's certainly not money but it's the capital


that they give to poor countries when they need it but what jim is pointing out here is that could this be the an acceleration of uh replacing the us dollar as the world's reserve currency and moving more toward the sdr and this quote at the bottom is quite telling over the next several years we will see the issuance of sdrs to transnational organizations such as the you and the world bank for spending on climate change infrastructure and other elite pet projects outside the supervision of any democratically elected bodies and


he does note in this article that the imf has already given some sdrs to some private organizations so he believes this is an acceleration of the process of replacing the us dollar as the reserve currency so mike what do you make of this development here from jim um i'm going to make a quick comment or so and then i hand it over to adam and then i'll make another comment at the end but uh you know it says the new blueprint for worldwide inflation and uh yeah i i find that very interesting


and uh i believe that you know i've been giving seminars on the death of the global dollar standard now since 2009 and it is coming uh it's just taking a little longer than i thought but the world has been through many many different monetary systems none of them are permanent uh there is no predominant currency or reserve currency that keeps its status this is a game of musical chairs and uh um i i think that uh jim rickards is on to something here this is a definitely an article worth reading adam what's your


take well i agree for sure that it's an article worth reading um the the term that this put in my mind is the term seniority and for those who aren't familiar with it i'll describe it in just a second but but basically here with the sdrs the imf would essentially serve as like a central bank for the world right printing a new form of currency and seniority basically says those who benefit most from the creation of new currency are those who have first access to it because they get to spend


it when it's still valued at whatever its current market value is and as that new money then comes into the system and then you know flows out into the system it begins to have an inflationary effect and the value of each unit is is you know lower as it adds to the total numbers that are out there so you know this is the article says you know the imf will be giving this money to its cronies favorite parties um you know whether that's the world bank whether it's um you know in individual ngos whatever


uh to go out and do pet projects would they'll be able to spend that at full value um so totally benefits them but everybody else who's not getting that first direct access is having to just eat the inflationary aspects of it so it's yet another uh yes it's a replacement for the dollar which mike you've been warning about for a long time but it's just one more way in which the rest of us are just going to have to eat more inflation whether we want to or not um the last thing i'll say on this


is is you know my day job is talking to a bunch of of experts in the world of money and more and more of them are saying that they see a global move towards de-dollarization as uh you know basically more and more predictable going forward and um it's really not unlike what happened in the late 60s and early 70s when the dollar was still backed by gold but we were we were printing more currency than we could actually back and the world caught on to that and that's when de gaulle and others started


you know calling their gold in from uh exchanging their dollars for gold because they knew the dollar wasn't good for it anymore i think people really are waking up to how many dollars we are now printing and you know now it's not without pain but they're willing to take the pain to find ways to transact in other currencies besides the dollar and i think that's only going to continue yeah the the people that you interview are experts on currency not money sorry you're right i say money in the


markets because it rhymes but it's right right yeah um you know uh i've got uh two things to say about this first of all that effect you're talking about is also what is linked to the cantalon effect where it push it'll push whatever sector uh they are giving this first use to into a bubble and so this is another wealth transfer uh from the average person on the planet to the elites to the and to the cronies of the uh the imf and so on um and the other thing is i encourage everybody


to go and investigate what is an sdr look this up and it's backed by the currencies that make up a basket that back the sdr and so uh the fiat currencies that are created by central banks are backed by whatever bonds or consoles or bonds or whatever debt instrument that that central bank buys that that indent in in debts the population of that country they have to pay taxes in the future on this currency that's basically borrowed into existence and then you put that into the uh world bank or the imf or whatever


where they get wherever they make sdrs i can't remember uh it's in the article i'm sure that jim wrote but once they do that then uh uh the central bank uses those a basket of those to create the sdr so it's like one more rehypothecation of the same debt over and over again and when jim rickards talks about a new blueprint for worldwide inflation he is right this is just another level of dilution of the currency supply the real wealth is the goods and services this is a dilution


of the measurement device and the temporary storage container for value and each time you do that the device gets smaller it doesn't hold as much value so that's all i've got to say on that yeah that's a good point mike when it comes to the fiat currency it's dilution d-i-e oh well said jeff yeah well under our tweet of the day guys and this is from alexander stahl and he says gold and he shows this image of the price gains in all these different commodities and assets over the past


year and you can see some of these are triple digits they're all double digits including silver by the way but you go all the way down to the bottom and there's gold 0.1 for a 12-month gain mike what's your reaction to alexander's tweet here um it's it's a great uh tweet and you know you always want to buy the most undervalued asset it just so happens that on friday uh i bought uh both gold and silver with the the gold silver ratio as high as it was a few months ago for the last year or so


i've been buying almost exclusively silver and uh finally i bought some gold for my personal account i bought it a ratio of 100 to one i bought 100 ounces of silver for each ounce of gold that i bought but uh with gold only moving one percent and silver up uh 45 this year that shows but the the inflation will this be the transitory inflation that the federal reserve has been claiming uh is is it going to be here for six months or a year while the economy gets back on track i know that lumber has crashed


tremendously from its highs it was like up over 300 percent and this says 104 here so um it's good to see uh some of this actually coming back down to earth but still a hundred percent is a lot what do you think adam i think you stole the smart point i was going to make um uh we i i think some of the data here um if you compare this chart to the same chart from a month or two ago it actually does support the transitory argument because as you said lumber was actually uh over 300 at one point


um not not that as you said 100 percent your vr is still pretty painful especially for folks that are you know building a house or you know putting the deck on their house or whatever um but uh i think more important i mean you look at this chart and as a precious metals uh long-suffering precious metals uh you know passionista like all of us you know it's hard not to just you know feel like it's another crazy making moment where it seems like uh uh when commodities finally get their day in the sun you know gold is still


stuck in neutral and of course we can make all sorts of speculation as to why that is there's all sorts of ways to suppress the price of gold in the paper market and since gold really is the mirror of truth that reveals uh the currency printing that the the central plainers are doing they have a lot of incentive to try to keep it contained that said though i do want to say this is why a lot of the technicians and the institutional fund managers that i talk to are really bullish on gold right now and i love it


when everybody is coming to the same conclusion but using a different pathway to get there and these guys are looking at what's happened with the other commodities the base metals the agricultural commodities etc and they're seeing that gold and silver but but notably gold have not participated in that yet they're looking at the technical charts they're looking at the fundamental reasons and they're saying you know what there's a high probability that there's going to be a catch-up


phase right now in the precious metals ahead of us where they expect those guys gold etc to perhaps have a double-digit move from here and of course if gold has a double-digit move from here silver should do very well as well and the miners that you talk about jeff should do exceptionally well so i'm actually very excited seeing this because to me it's just one more green light on the dashboard saying this is a really good time to consider increasing your precious metals exposure yeah this is another gift to be able


that gold has is only up 0.1 means you can acquire it you know you get more ounces for your fiat currency and so uh uh it's it's a gift everything else has gone up and gold is the one that hasn't even moved here on this chart and i think that that is awesome uh it all this you know i have said that there's going to be big uh deflation before either big inflation or hyperinflation and a lot of the people that you have interviewed adam are have stuck with the deflation story and i'm sticking with it


too uh the popping of of the bursting of bubbles is deflationary and we have the almost everything bubble the the exceptions the things that aren't in a bubble is gold and silver and uh so this uh gold not moving for the year uh over last year so from a year ago uh basically no emotion at all that's a wonderful gift where uh you can pick some up and it needs to catch up with other things uh gold does well too in deflation it's a crisis hedge more than it is an inflation hedge and that's right that's


going to store value really comes into play yeah yeah great input guys thank you so well if you're liking this video uh please hit that like button for us that helps us out and also the notification bell so you're always in touch with us so on to our uh chart of the day and this is another one from zero hedge visualizing the world's population by age group and there's a great graphic here that basically shows that the world is the world's population is aging is getting older um so there's


some great info here but here's the the key point to me why is this significant an aging population typically means a declining workforce an increase of people looking to cash in their pensions this can put pressure on the working class if taxes are raised i would probably change that to when taxes are raised but but mike you've talked a lot about this so what's your reaction to this great graphic here yeah i've been uh showing a different version of this same thing for many years because it has a


big impact on the economy the demographics is very fundamental to the economy and one of the things that uh is happening also is that people are living longer and longer and longer we don't uh die from you know there's covid right now but uh when you look back through history people died so much younger and they diseases killed so many more people and so on now everybody survives and you look at the number of under 20 year olds in the 20 to 39 year old cohort and they have a much better chance


at surviving into their 80s than somebody that's my age already 65. um uh and so the world's population is aging and uh this is going to be uh and you know you look at uh the resources that we have uh on the earth and how we're abusing uh the whole ecosphere uh this this is actually a scary chart what do you think adam oh i think it's a frightening chart and your your comments there about you know limited resources in the ecosphere is a huge driver actually why i'm going to see joel


salatin later on today i i do want to point out um because i think in the precious metal world we get real focused on inflation and potentially the dangers of a hyperinflationary situation depending upon what the central planners do but i think it's really important to just you know step back and acknowledge that the system so desperately wants to deflate like when you look at the key macro trends out there if we just left things alone right we would deflate in a heartbeat right with all of the the bad debts that we have


all the male investment and this population aging that's a hugely deflationary trend going forward right many many more people who are alive and need resources but who aren't working right and fewer and fewer people to support them and as jeff said you know they're going to be taxed in some way shape or form uh more on a relative basis than previous generations to help support all those old people all of that is really really deflationary and in the uh the presentation that we released last


week to the public from our recent conference with lacey hunt he actually talked a lot about this and he revealed a really stark stat which is that um if you look at the major world economies um the us uh is now you know its average age has been creeping up it's now 33 years old and if you compare to the other major world currency populations they're all older than us europe's average age is older than us china's average age is older than us and japan's average age is the oldest


out there but china is the world's biggest country their average age now is 40 years old and that's because of the impact of the one child policy that they've implemented for the past bunch of decades um and what's crazy about that is their average age increases by a year every two years so two years from now the average age is going to be 41. two years after that it's going to be 42. so they are aging incredibly swiftly so what's going to be super interesting to figure out is how are we going to deal


with this you know as a global society and my my fear is is to to try to fight these deflationary forces which really are forces of nature um the only real tool they have is that printing press and so it's interesting but but even though deflation's the big kind of monster trending about out there i think our responses are gonna bring around the high inflation that we all fear while we all own the precious metals yeah i've always said that the uh deflation will scare the hell out of the


central bankers because if you've got a debt-based monetary system that monetary system can't survive in deflation you have to you know they have to just step on the accelerator and see how fast those printing presses can go right so their response is always inflationary uh to a deflation and that's another reason why we're so positive on gold uh well on to some viewer feedback guys this is from russ land actually we are now worse than serfs and mike this is referencing your video


from tuesday where you're talking about how serfs uh actually didn't own the land he says here quote the most important function of serfs was to work on the domain land or domain land of their lord for two to three days each week i don't know where that quote comes from but he's quoting it from something now we work five to six days a week and can't afford a house interesting times we are living in pardon me mike what's your reaction to his uh his uh feedback here well you know we


really did say it in the last video uh when i said that klaus barbie i mean klaus schwab of the world economic forum said that uh in the future you'll own nothing and be happy uh and you know then we had a tweet i guess about 10 years from now everybody will be renting uh and so we're all going to be renting from blackrock and stuff it's you know you'll own nothing they'll own it but yeah we are becoming serfs again a whole uh generation of serves uh working for it and it's this wealth transfer


that's caused by the central banks that's caused all of this adam yeah just violent agreement here i mean folks that's why they call it neo-feudalism um we we really are moving back to the world and you know mike i think we got to tweak that saying of uh you'll own nothing and be happy i think it's you'll owe nothing and they'll be happy meeting you um the one thing i'll say in the comparison uh in the tweet there is you know the difference is that look i don't think anybody would want to go


back in time and be a feudal surf um but the the lords there the nobility they actually did have some sense of responsibility as a caretaker to their vassals and their serves because it was those parties that were doing all the work they were out there growing the the food they were out there building the roads the bridges and stuff like that and they knew that you know dead subjects or subjects that are in revolt you know aren't growing food and and aren't building infrastructure and so there was some


sense of okay i gotta make sure these people have enough to actually exist and you know there's some rule of law and they have some benefits um i don't really think we we kind of have that in in the future we're moving towards to me it feels much more like i think like soviet infantry is a much better example where we're just bodies to be pushed forward to the front to be sacrificed for the greater mission um so honestly i kind of feel like the serfs uh you know had uh had a better deal way back then given


where i see us going now to me that that soviet infantry model feels like a much better analogy i agree you know and you're about to go see polyface farms and one of the things i'm doing is trying to make a permaculture you know 100 organic sustainable permaculture farm uh and i'm trying to do it all electric and solar and hopefully uh make it the world's first carbon negative farm uh and so um i'm trying to make sure that you know i don't have i did take on some debt recently because i


see that after the deflation there will be big inflation and it's like uh if if we go into inflation that's higher than the interest rate that you're paying the it's the bank uh paying you to take the currency off their hands and i want to be in that position uh but uh you always want to make to me i always want to make sure that the only debt that i carry is something that i can pay off very quickly from other investments and so on so that i'm i'm never owned by somebody


else yeah good point okay well on to our meme of the day here but first if you've not read mike's book the link is down below you can do so for free and there's uh adam's wealththeon.com channel as well if you want to subscribe to that as you heard he's got some great gas coming up and some great information so subscribe to that if you haven't uh well on to our meme and this is from our friend peter spinner peter and i have been friends for a long time peter's been friends with mike a


long time many of us here at gold silver so mike uh tell us about this meme this good one well we were just talking about debt and not letting anybody own you and here we've got the national debt is the little girl there's a little boy looking into the end of this hose and that's future generations and she's got the hose crimped and she's going to let it go and he's going to get hit in the face with all of this debt and that's exactly what is happening to generations uh uh the you know the


younger generations they're going to be stuck with the bill uh never being able to buy a home uh you know and it's all because of the central banks i want to thank you guys both for joining us here and uh we'll see you later everybody bye adam bye jeff hi you guys thanks for joining us see you next time