gold news

 so I know there's a lot of discussion around the world's Reserve currency right now it's the the US dollar and I I went to a conference that said you know it's not going to be for a while you know we're we're the they called it the cleanest dirty shirt the dollar so you know Max geyser calls it the leper with the most fingers left yeah so you know so I hear that you know and of course everybody's afraid of is a dollar being replaced and there's a lot of discussion

around it if that happens what does it go to uh well you know they're trying to come up with a basket of currencies or uh the Yuan uh but the countries that are talking about this are accumulating an awful lot of gold rayar they bought more than uh since we started keeping records on this back in 1950 it's the highest amount that they've ever purchased and there's something called s-curve adoption have you heard of it no okay so um the reason I talk about this I've I uh you just drove Dan's Tesla Roadster

which by the way was incredible yeah it dang is fast yeah we've been actually investing in them because I think that most of the time I've been getting ready for a crisis but then I was comfortable with my position and so I started betting on the upside of humanity that's one of the bets on on the upside but you gotta drive it yes yeah it's it's a a fun investment but s-curve adoption when the uh automobile was introduced there's a famous picture of Times Square uh in the year 1900 and there is one horse I'm

sorry there's one car and it's all horses and carriages then in 1913 there's the same photo that there is one horse and it's all cars and what happens is you've got an existing technology and then a new technology is introduced like I was an early adopter I have the original Tesla Roadster that have been driving for years and then more people start jumping on board and then suddenly they just completely switch uh you'll see this with the internal combustion Vehicles versus electric over the next

by by the end of this decade probably 90 percent of the cars being sold are going to be electric um and this same pattern is going to be what plays out with the abandonment of the US dollar as the world's Reserve currency and something else take taking its place there's going to be it'll start out slow and everybody's going to say oh this is going to take 20 years or 30 years and then there's going to be like this three year period where it just like flips yeah it does seem it

seems interesting to me you know I we saw the Euro like we put together with 26 countries I think it was maybe that's not exactly right I think it's 26 countries in the European Union but not all of them using the Euro yet and then but I I watched it you know you watched like the Germany upset at Greece and all these things happening and uh you know so some countries were fiscally responsible others were not right so I I you know the reason it can't work over a long period of time do you think that'll

play or get to be fiscally irresponsible because it was actually theft if Greece can run deficit uh big deficits that purchasing power is being obtained by diluting the currency Supply right and then somebody responsible like Germany is being analyzed right right so that's why I was wondering like that basket of currencies you know they're going to have that same those same risks right yes and that's the reason that um this is going to take a while uh but you know Russia has enough gold now you do they

could back their currency right now China does not have enough gold per person because they've you know um the world gold Council supplies data on you know who has the the number of ounces that each country has and uh the US has by far the most but then if you divide it by the population uh we're down at number 12. um so we're not the richest on the planet uh the second richest I think is Switzerland um as far as gold yes the richest is I can't remember what island it is in the Caribbean but they've got gold and they

don't have many people so could we switch over to the central bank digital currencies at all can we talk about sure so I I had this conversation with George Gammon the other day and I know we're going to speak at his event in Rebel capitalist here in May yeah so come to Rebel Capital yes it's in Florida yeah please do that Jerry would you put that on the screen too uh and so I think um you know I asked George you know all this chaos you know is this a way for us or you know I guess countries to

introduce the Central Bank digital currency yes and all of the things that have been happening with crypto lately it really looks like you know the banking crisis that we just had was um uh silver silvergate Bank Silicon Valley Bank and Signature Bank so I started making jokes like if your bank starts with the letter S you might want to rethink your strategy but um these Banks all dealt with uh companies or companies that were involved in the crypto space or they were being used as one of the gateways

where you know you deposit there and then you send your dollars over to an exchange and you can trade cryptos and uh just before that uh just the end of last year we had uh Sam bankman freed with uh I can't remember FTX yeah the FTX Scandal now do you know Chris Martin's of course okay Chris did an excellent expose on that and it's it's uh worth uh taking a look at and the there's just so much suspicious stuff that it looks almost like this was purposely set up to create a big

exchange that would then fail uh to uh cast uh suspicion dispersion on the the crypto space and uh uh I thought it was interesting that they let a couple of those banks that that you know can change crypto yeah you know fail yes right that was very interesting Barney Frank said that it was uh basically because of crypto and then the bank that acquired it uh had the the acquisition one of the conditions was that it couldn't be used uh to for crypto accounts you know being able to accounts that were connected with exchanges I saw

that I did a deal with silvergate when they they started off as a real estate Bank they're based out of La Jolla and we we've done deals with them and then all of a sudden they they switched to crypto and uh then poof gone I was like wow wow that was interesting yes yeah uh I I cover a little bit of um Central Bank digital currencies in the book and I just call it an evil beyond all evil I mean uh if this is a bureaucrats a politician dream to be able to control the population and to be

able to extract you know if you want to raise taxes they can do it retroactively they can do it instantly they uh reward and Punishment just like training an animal they can train us yeah well all the Privacy is gone exactly what would happen to the regional Banks because you would you wouldn't need an account with them right it would just be an account I know you wouldn't and that's one of the things that has been holding it up yeah but it looks like you know they've solved that problem not for the regional

Banks but they've solved it for the big Banks which will start eliminating and what you're seeing ever since the Federal Reserve was established is this consolidation into what will eventually be just one single system with no other options yeah a Yellen kind of put her foot in her mouth when he was I think it was that Senator or Congressman out of Oklahoma I missed that so it was awesome he's like well you know how are you going to help then bail out these other Banks because you know silicon oh yeah and she

just fumbled through that whole thing and basically said well no you know right so and what happened after that is people the U.S started moving money from these small Regional Banks into those bigger Banks yeah and you got to wonder whether or not that was um well if you're going to move anything uh it's you know you're insured for 250 000. so yeah I thought you know those are individuals like right any Corporation holds way more than that right yes but uh you can you know a lot of times uh

they will keep it in money markets so that it's still liquid but yeah um then you don't really have to worry about the insurance if it's invested in treasuries you've got insurance that they're going to hold a gun to somebody's head in the future and extract taxes out of them so that's so true I know yeah well Mike this has been awesome uh guys make sure that you buy this book Gold and Silver Rush of the 21st century and it's available at ggsr21.com and it's on Amazon but we've

been Shadow banned on Amazon there's information in there that they don't want you to know have you really and so yes it's now listed as a video game so don't search for it under books because you will not find it that's awesome Kindle version will be out shortly and I just finished the audiobook as well and so it will be available hopefully we can get it listed as a book again you'll be able to see us at Rebel capitalist live on Orlando Mike's to speak down there I'm going to be down there that's May

12th to the 14th down in uh Orlando Florida be there or B Square I think Chris Martens is going to be there too which will be great and we'll see you guys there and again Mike thanks thanks for the book and I appreciate you thank you