hi i'm mike maloney with jeff clark jeff how are you doing i'm doing great mike and it's great to be back with you for another video this week lots of fun stuff to talk about and so let me just jump right in uh this first one is very interesting and i think you're going to have a very interesting reaction to this mike and that is that tesla has invested uh was it 1.5 billion 1.5 billion dollars into bitcoin they also said that they're eventually going to set this up so they can accept


bitcoin as payment when you buy your new tesla but what i the other thing i want to point out i think a lot of investors missed is this we may also invest in assets such as gold bullion and gold exchange traded funds now this is the tesla treasury doing this so this is very interesting so mike what's your reaction to tesla going into bitcoin and potentially gold well the the first comment that i want to make this isn't my reaction but the first comment is that uh tesla should buy a bunch of


silver and take delivery of it because they use a ton of silver they don't use a ton of gold and they're going to be sorry that they didn't buy silver when silver is in the triple digits when they've got to pay 150 three hundred dollars an ounce for silver uh they're going to regret not buying a lot of it below 30. you know um and dave morgan wrote an article years ago about all it takes is like one large silver user for instance apple to go you know what prices are going to


go a lot higher in the future i'm going to hedge my future silver demand the amount of silver that i need to build my products i'm going to hedge that by just buying a bunch of silver and lock in these lower prices now i think it's great that uh that tesla is considering going into precious metals and and other uh hard assets and this is actually a part of you know i've for uh 11 12 years now since 2009 i've been giving seminars on the death of the global dollar standard and it's it's coming it's taking a


little bit longer than i thought it was going to take but it's on its way you know that it's going to happen you can see it and now there's private individuals and one of the whole chapters in the great gold and silver rush of the 21st century that i was writing about is is the difference between the 70s bull market and today and there was the the number of billionaires on the planet and the the um you know everybody has actually been getting richer it isn't that the poor are getting poorer and the rich are getting


richer that's not true everybody is getting richer the rich are getting richer faster than the rest of us but prosperity has been increasing over for several decades and these are the numbers they're just uh you put it in a spreadsheet and up come the facts when you sort it these are the the numbers it isn't my opinion that everybody is getting richer the poor aren't getting poorer the a lot of the poor stay poor because governments trap them in being poor by paying them to be poor


you get on all these programs and stuff you're paid to stay in that box but um everybody is getting richer and as the uh a normal of a an enormous portion of the population of the planet uh becomes much more affluent they've got assets to protect and when uh the currencies that they're using become suspect uh they start making a shift over to assets that are going to protect their wealth and this is one of the things you're seeing tesla go into things like bitcoin gold this is part of the death of the


global dollar standard um you know i've met elon musk a couple of times when you were a tesla roadster owner it was like a private club um for the whole uh like southwest about a third of the country if you had a tesla roadster your mechanic was bob the dealer the dealer the manager at the dealership was mike this was the uh tesla in santa monica or west la and the parts department was vince santos mike bob and vince was that was my experience of tesla you know year after year after year uh


that's what it was until the model s got real popular but you know tesla has already taken bitcoin for cars uh you know we are the first dealer goldsilver.com is the first dealer to accept uh bitcoin uh in in trade for gold and silver you you can pay for your gold and silver with bitcoin bitcoin cash ethereum and so on but the reason that we are the first dealer is because uh you know i i was driving roadsters and then took delivery of the 599th model s off of the line and that was in 2012 and in early 2013 there was an event


right up next to the fremont factory fremont california tesla factory uh called testlive and i went to that event and um i met a man named tony galippi and tony had paid for his tesla model s with bitcoin it's 2012 tesla model s with bitcoin so you're talking this was right about we're coming up on nine years i think this was an april event i met tony galippi and then i went back his company bitpay uh converts uh makes it so that somebody like us that we have to accept bitcoin from the


customer uh hedge it into dollars immediately so that that price is locked because our spread is so narrow and bitcoin is so volatile and moves such huge amounts that we have to do it uh lock it into dollars and then turn those dollars into gold for the customer gold or silver but uh i think it's wonderful that uh tesla is creating this demand in hard assets and bitcoin uh this is a is a great thing and it raises awareness and it is part of the death of the global dollar standard that i've been talking about now


uh for you know uh almost 12 years so yeah yes very good mike i'm writing an open letter to elon musk and i'm encouraging him to buy physical gold and not paper etfs so when this article is done maybe you or even one of our viewers could get this in front of him but i should add in there that he should look at silver too since he does use silver evs use almost twice as much more silver than an ice vehicle internal combustion engine so you're right about that yeah so if he uh takes a whole bunch of


silver off of the market and at the same time is hedging uh future production costs and and lowering future production costs compared to all of their competitors if they take a large position in silver they're going to have an advantage over their competitors that are getting into the electric car business now yes good point exactly okay mike on to tweet of the day this is from tf metals craig hemke and he says uh here in this tweet uh same different day uh the new york stock exchange opens


with and within a few minutes comex gold and silver get pounded regardless of any movement in dollar or bonds so he's kind of referring to the manipulation here and keeping the price of gold and silver down so mike what's your reaction to craig's tweet there well uh i've got uh comments and reactions uh the comment is that um because of this silver short squeeze the amount of silver that was available on the london exchange got down to just 13 of all the medals that are on the london exchange only 13


percent uh so uh 87 percent was in all of these etfs and uh and the other places caused by this silver short squeeze now for the price to be where it is still this just shows the blatant manipulation that there's this enormous demand happening right a whole bunch more buyers than sellers but the price isn't going up right now but we're getting close to the point where this short squeeze can cause them problems and cause a failure to deliver uh on the commodities exchanges and uh and these etfs and what people need to


do is start taking delivery so if you bought slv or some other etf or etp exchange traded product take delivery of a thousand ounce bar you know just start taking those bars out of the vaults so that they can't double count them another thing that's interesting is a whole lot of this new supply is not in the major custodians of the um the exchange traded funds it's in the sub-custodians and the sub-sub-custodians it's the stuff that's really really hard to audit and track and prove that it's actually


there so take delivery uh if you want the price to go higher say i want my silver right exactly the only way this really works is taking physical metal off the market and keeping it or putting it into strong hands uh like all of us so that's really the key there so yes thank you okay so on to chart of the day mike and this is from lisa bromowitz if i'm saying her name correctly the 15.7 billion dollar long-term treasury etf tlt had its biggest one-day withdrawal yesterday of 639 million dollars in one day


withdrawals from this bond etf uh since the heart of last march's market turmoil so the withdrawals yesterday mike from this fund were actually bigger than they were last march um now tlt is a bond fund and it's a long bond fund meaning it's 20 and 30-year treasuries but mike that chart is very uh sobering to look at the biggest one-day withdrawals from a bond fund right now so what do you make of that mike this is part of the death of the global dollar standard that i've you know i've


been talking about this for years and years and years and now there's a whole bunch of people talking but if if you studied monetary history and then you looked at what was happening in the economy you could see this coming from miles away and and it's it's coming uh this is people getting worried about being locked into uh um low interest rates where they're getting paid interest that is going to be below in the rate of inflation so as people uh cash out of these treasuries and uh go uh they're expecting


more and more inflation in the future which means higher gold and silver prices yes exactly and that bond fund i don't even think it i was just trying to look it up real quick i don't think it's even paying near the current cpi inflation rate might be a little above it but regardless that's a lot of currency that's leaving a bond fund and going where cash and probably into the casino that we call the stock market these days so wanda viewer commenter uh of the day mike this is from joseph jones one chair


with one silver coin on it and 250 people dancing around it is exactly how an exchange-traded fun looks your analogies mike are always entertaining and spot-on yeah i think i may have written that into my book uh back in two thousand five six or seven but uh sometimes we've had uh way more than 300 to one ratio of paper ounces sold for how many ounces are available for delivery at any given so yeah and when the music stops that's when you know you see who's been swimming naked right it's you know the tide goes out


when the music stops and there's one chair left it's a disaster for the commodities exchange for anybody holding physical they're the ones that get the big payoff uh but you know take a look at the supposed inflows into the exchange traded funds on silver and what you see is something that borders on an impossibility i can't remember how many months of global production had to be delivered to the uh these funds in just the past uh you know week it but it's the this the price not going


up right now sort of you know being in a range is just absolute absurdity we should be way up above 30 at this point with the amount of demand compared to how much the supply there is and like i say take delivery you want the price to go up take delivery take it off and take it away from the um the fractional reserve uh game that they're playing uh if there's 250 people dancing around one silver coin in a chair and the music stops well what happens if you've taken delivery of that silver coin


and the other 249 people haven't they're gonna be disappointed the price will will just suddenly leap huge and you will get a great reward for taking delivery yes so the point is make sure you own physical now before this type of event really uh picks up steam or happens suddenly this could all happen even you know start overnight so you want to make sure that you do have physical metal in your possession and you will be already sitting in that chair well mike as we wrap this video up i


just want to remind everyone you can get mike's free book it's still very very pertinent to today we'll put the link below here so uh it's free you can download it for free and read that and i think that's one way you can really help prepare yourself for what's ahead it's a great read too so mike i'll let you uh close this video by reading the quote or meme of the day here okay the quote of the day is none are more hopelessly enslaved than those who falsely believe they are free and


uh that's garrita uh and uh this is so incredibly true uh you know one of the interesting things is that liberals uh view the world through a lens of victim and oppressor conservatives tend to view the world through a lens of uh law and order versus uh criminals and uh and you can sort of see these you know nobody's wrong or nobody's right to view things this way it's just sort of and uh libertarians like me view the world through freedom and enslavement and i've been uh you know promoting and battling for


freedom for a long time ron paul once said that if you believe in the idea of income tax and you think it's morally okay then you are saying that the government owns everything that you do and everything that you produce and they allow you to keep a certain percentage of it none are more hopelessly enslaved than those who falsely believe they are free this is true and yes part of our enslavement is just the way our monetary system works it's the way our tax structure works it's just the way life is


yes thank you mike enjoyed talking with you today and i'll see you on the next video okay thanks jeff