I I was at a a rally and I I wore my voice down yesterday and the day before. I can still talk. I just have to clear my throat once in a while, but I'm good to go. And the the brain is working just fine. And uh we're watching history. um the newsletter that I've launched in 2004. We're now in the 22nd year and I've been advocating silver ever since it was $7. Okay. I bought a bunch of uh rolls of Morgan, you know, 20 rolls of Morgan dollars. I bought them at $7 from Littleton, New Hampshire. You
know, I just bought them, bought more, bought more, bought more. And let me just recite a funny little story. It was around 200 five. Warren Buffett said, "I sold the silver too early." No, he didn't. He got called away after selling covered calls. He had ample income from silver and I believe he got called away at 750 because it got over $8. And he didn't want to admit, this is very key, Dustin, he did not want to admit that he lost money on silver when he claimed that there was no income
potential. He sold covered calls and got called away. So, he had two options. He could lose money by buying them underwater. Or he could say, "I sold too early." A big fat lie. That was $7.50 call. He got called away. All right. So, he's a big fat liar. What's he doing now? He's invested $345 billion in the Japanese yen. Okay. So back then silver was a huge bargain and you know we got stuck for at least eight years in the teens and a lot of people got discouraged and they said when's it
going to when's it going to run Jim when's it going to run the same question over again year after year after year after year I said when the US government debt becomes a big problem when they regard I mean it doubled every administration two terms term administr it doubled. It doubled under baby Bush. It doubled under Obama. It doubled under, let's just call it the Trump and Biden pair. When the government debt is a problem, when the bond market has trouble selling bonds, and you know, we're in an
impossible situation now, Dustin. They cannot raise interest rates because the economy is so weak. We're actually in a depression that we don't admit. They can't lower rates because we've got an inflation problem. So there are no policy options. And a year ago, year and a half ago, you remember we were leading up to the September rate cut. I told people, and this was not based on my colleagues, this is just my own thought. I thought with the debt so terrible, if they cut rates, we're going
to see the long end go up in rates. And that's exactly what we saw. So if Trump has his way and he reduces interest rates, he's going to light a fire under the gold and silver market. Do you think it's already on fire? Okay, it's going to be on fire even more. I like to say Fibonacci is in the room. 10, 20, 30, 50, 80, 130. Okay, we're about to make, let's just say, some friction at 80. And I don't know if you're aware, but there's a $7 vig now between Shanghai and ComX.
>> Arbitrage. >> Well, you know, they could arbitrage. You know, a key part of the arbitrage, they buy it in New York and then do an exchange for physical and take delivery in China. >> Yeah, they're draining us with silver. They're pulling it out. I don't think we have any. >> Yeah, >> we're we're selling paper silver and they're doing an exchange for delivery in Shanghai. >> They're picking it up in Shanghai. JP Morgan withdrew. I believe it was 24
Oh gosh, I know it had a two and a four and it I think it was like 24 million ounces. I think they pulled it off the the vault um two weeks ago, three weeks ago, Thanksgiving. That Thanksgiving weekend was historic. Um JP Morgan essentially said, "We're not going to leave our silver in the market. We're going to remove it from eligible. We're going to make it registered, and it's up $20." Um they've got a $400 million benefit from doing that. Now remember I said when the US government
debt is a problem. All right I made a forecast in 2010. Dustin I said we got 10 years of trillion dollar annual deficits. 10 years at the end of this decade of 2010 so around 2020 we're going to have a very big problem. and and we did to the US government debt. Um I've got a couple military sources. I'm trying to pack it in now because I I know you're not feeling well, but >> go for it. I mean, just keep running. You're doing well. >> Once I get >> There's a lot to unpack. There's so
much, you know, what has happened. >> I can't stop once I get going. >> They've been stop trying to stop the price of silver and now they failed. It's finally happened. >> Okay, let's let's focus on silver. Okay. The pattern a few months ago was to sell one year of global mining silver output on a single day. Okay, that would knock the price down a good 10, 15%. Well, now it's not working because the Chinese and the bricks are buying up silver. It's India and China. India. Oh
gosh, it was about April. I had an entire chapter in the newsletter, the hattrick letter on goldenjackass.com. A whole chapter on solar farms pictures. Okay, there like four or five in India. There are a couple in uh California. There are one or two in Nevada. Arizona has one. Uh Australia has a couple solar farms. And the demand is enormous. And what a lot of people don't know about solar farms is that after a few years, the panels don't work very well. They they kind of it's not a corrosion. It's more
like they change from all that exposure to the radiation and ultraviolet. And and in addition to that, every couple years is like a 10 or 15% efficiency gain. So after three or four years, it's well, you know, I think we need a new car. I think we need new panels. Okay, I want to get a new car. They got new, you know, electronic fuel injection. It's been four years. I want a new car. Okay, I want the advances. Anyway, the solar demand is huge and it's not stopping. We've got the US knocking down the price
and the bricks in China and Dubai saying, "Thank you very much. No longer are these pounces and ambushes successful." It's like they knock down the price and the next day it's right back. Um, but we are about, I think, to hit a point where there might be a little bit of a correction. But it goes like this. You know, I've got a $20 million account and I just went up 3 million. So, I think I'm going to take 10% of my position and cash out. And if it comes back down, I'll buy more. If it doesn't,
I'm content. But I want to diversify. I want to buy some platinum. I might want to buy a a discounted uh property near the beach because there are foreclosures. Okay. There's going to be a little bit of selloff after a gigantic gain and it's not going to last it's not going to last three weeks. >> Yeah. >> Um >> the banks are trying to smash it down as well and they've failed but they may try again. They just got a bunch of money from the Fed >> and and that brings up a very
interesting point. How do they get out of insolveny? Um, I believe that the let's just say that the Trump gang, um, I don't know who they are, honestly. I call them the Trump gang. How come none of the Trump sons looks like Donald? Okay, that that's, you know, a very big question, but the Trump gang is talking Bitcoin and buying XRP. They're talking Bitcoin. Is there a big upside potential in Bitcoin? Oh, maybe fivefold coin. I'm sorry. Black Rockck and JP Morgan have successfully acquired
several billion coins. Yeah, it's a banker's coin. Why don't you join them when they enjoy join them when they benefit from a hundfold gain? Who gives a if it's a banker's coin? It's a banker bridgecoin to the digital world. Would you like a hundfold gain and tag along on their their coattails? I think that sounds like a good plan. Anyway, so you're not an XRP fan and that's disappointing because I think you're missing a rather large blanket >> to throw over the entire set during a
global paradigm shift involving over 50 trillion of assets being tokenized. I am happy with silver though. >> Well, yeah. Okay, fine. Let's focus on silver. When people say, "Jim, what's up with silver?" I say, "It's remarkably shiny. It has almost no replacements." And I like it. That's my answer to what do you think about silver? Um, you know, a lot of people don't understand some things. Let me let me try to explain something in layman's terms. Uh it's
called isotopes. And um I I want to say goodbye to the farmer. Um the farmer was somebody who explained some of these things to me. He was the son of a Roswell physicist. He was a teenager in Roswell. His father was a physicist in the 1950 decade. He just died. And bless you farmer. Um may you rise to heaven and be with the Lord. He explained some things about silver. Um, it has two major isotopes. There are exactly no other metals that have common isotopes. Now, if you look at uranium, I think of U238. That's an
isotope. It's rare. It's way under 1%. That's why you need the centrifuges and the refinery to get that heavy uranium that will be subjected to fishing. Okay, silver has two isotopes. Each one is over 30% in commonality and that's one of its biggest um scientific advantages. It can jump in isotopes and offer a potential for certain reactions that I do not fully understand. Why is silver so wonderful in photovotayaic? Why is it so wonderful in reflecting light for photographic? Why is it so
great for electronics? I don't have a good answer but farmer told me that's what I call him. I don't want to give away his real name. He told me it is because of the two common isotopes and is a very rare metal and cannot be replaced. I remember that 10 years ago uh there was a new application that I heard about. Okay. 20 years ago it was oh burn victims are using silver. That's another application. Well, have you ever looked at pressuret treated lumber? You know the 2x4s and on the end you see
it's green. >> Yeah. >> That's silver I don't know nitrate or something. It's anti-insect. Um, it's yet another application. It's it's akin to the uh antimicrobe for medical uses and burns. It's antimicrobe uh at the the ground level. Okay. >> It's a miracle. And and the reason that it's useful for those technologies better than most things is a it's conductive more than almost anything else and b it does not corrode and almost everything else does.
I've got um a three series of the you know the O the Morgan O series from New Orleans and they've got some beautiful marbling. Um I believe it's copper impurities. Um and it's gorgeous. Um anyway, my brother's hanging on to it. The Biden boy. Let me know if you avoid the tomb. Brother John. Um, I haven't talked to him in five years since my father died. And I have no interest in conversing with my brother. We were like twins growing up. I was a little taller for my age. I think
because I drank a lot of milk, Dustin. Um, you know, milk. >> They tried to improve the production of milk by putting in hormones for the cows. And I drank a lot of milk. I drank John's milk sometimes. And so I we were like twins. I was two years younger, but I was Yeah. He got the teeth, I got the brain. Um All right. Silver is not go done going up. Okay. I I'd like to get to some speculation regarding silver because this might be valuable for a lot of people. Um we had a hard time getting
through 20. It took almost 10 years. We had a hard time getting through 30. It took about three years, three and a half years. We had a little bit of a hard time getting through 50. It might have been what? 6 weeks. >> Wasn't that bad. >> Maybe a little less maybe. Okay. We might have a little trouble getting through 80. I don't think it's going to be more than a couple of weeks if that. 10 20 30 80 130 Fibonacci in the room. If you need the formula for that, I've got it. It's got a square root of five
in it. It's got the golden ratio 1 plus the<unk> of 5 over two. It has a a trait that if you square it and subtract one, you're back to the same number. That's the essence of the Fibonacci sequence. Anyway, it's fun. Uh, by the way, I'm writing a math book and um I I've got some stall in it because this is just so exciting what's going on with silver. But it's also exciting, you know, just just let me go off on a tangent a bit. It's exciting to watch the global digital finance
transformation because we've got over 90% of the banks committed to it. And if you haven't seen it, you're missing something big. >> They're going to be realizing 80% reduction in cost for transfers. >> They're going to be moving $40 million in 3 seconds for 2 cents. That's going to be norm. And I believe XRP is going to be the dominant bridge asset for this technology. And they're all getting into it. the DTCC Depository Trust. Oh gosh. Clearance Corp. They're now
tokenizing for derivatives. Uh NASDAQ is tokenizing for trade settlement. Uh Swift is tokenizing their transfers. They're actually a just an email messaging service posing as a transfer company. Welcome to Gold Silver News, your go-to destination for all things economics and finance. Whether you're an experienced investor, an inquisitive student, or just someone who wants to stay ahead in today's everchanging economic landscape, you've come to the right place. Now, we'll show you the best scenes of the
latest interview. But first, smash the subscribe button, hit the like button, and send us super thanks if you find our daily recaps valuable. enjoy the episode. >> Um, and they're big fat liars. Uh, they've got already thousands of banks doing swift transfers with XRP. I think it's going to be one of the most historic big gainers in modern history. But we're in the middle of a digital paradigm shift where assets across the world maybe between 50 and hundred trillion dollars are being tokenized.
Okay. Once they're tokenized, they're going to want to have transfers that avoid the escrow vastro and nostro accounts. And that's between 12 and 25 trillion of corresponding bank escrow funds. You want to send from New York to Rome 10 million. Well, Rome must post $10 million in escrow. New York must post $10 million in escrow just to send it. And once it's there, the escros are pulled back. Okay? So, the big banks are excited for almost $20 trillion of bank assets to be freed up, no longer needed,
for an obsolete corresponding banking system. Sign up for the newsletter and learn more about XRP and you might benefit also, Dustin, from learning more about XRP. That's a possibility. But in England, they're wrecking that now in the parliament. They're wrecking that in England. Uh that is a story in progress. The the um digital ID has been sabotaged by King Charles. And I got something very interesting to say. This is very weird. I don't want to get locked into this conversation, but I
will have one story in the newsletter for December. It'll be posted in a few days. We've only got three days. Pardon my voice, but I was yelling a lot. It was an interesting event, but um a story in another day. All right. Silver is not done going up. Here's an interesting description of what's happening. We're pushing off the table the corrupt paper price discovery mechanisms that there's still comics contracts. There's still delivery, but it's being overwhelmed
and and they're abusing the paper. Some Wall Street banks have gone long, Dustin. And we're removing the paper influence and we're entering. It's going to take a little while. I don't know if it's going to take another week, two weeks, maybe a little more. We're moving toward physical price discovery. What do you guys have on the ramp to sell? If you don't, we're going to jump at 10 bucks. Physical price discovery. What's your supply? Now, do you remember two years ago we
had the eligible, we had the registered, and they brought in a new category of how desperate they are. They shut down the US Mint. I don't know if people have noticed, but there's very little available at Miles Franklin. >> Everybody's shutting down sales, it seems like. >> Yeah. I'm wondering what's going to happen with the silver producers, not Mexico, like like the Canadian silver producers, the the Australian silver producers. Here's a funny fact. Uh Poland produces as much as Russia.
>> I'd love to have a silver mine right now. >> Yeah. Um, I started saying almost a year ago that we might see a silver cartel like we have had now for half a century in oil. Okay, we regard OPEC as normal. It's not normal. It's a cartel. They control supply. They control talk about output which affects price. Are we going to get that with silver? where the Chinese and the Mexicans forces >> too. We're too loud, me and you. >> We're too loud with what?
>> We Well, with our message, they won't be able to control the uh conversation when it comes to silver, I think. >> Yeah, but you you can't stop cartels from forming. Uh, right now Mexico has basically called silver a national security metal and they're only selling it to their communist partner in China. >> So is the US. So that actually brings up another question I wanted to ask you about. What what are your thoughts on potential confiscation for this? You know, we were out of it. It's a national
strategic metal, military, etc. excuse. I think the first line of risk will be the silver producers, the miners, and and it might involve the Canadians as well. They're more Canadian mining companies, and they're all over the place. And I was involved from '05 to08 in a Canadian mining firm conference. Um there thousands of them. Um they're small, they're tiny. They're hoping, you know, to make it big with a discovery. I I think we're very likely to see the mining companies
ordered that they must yield their silver output to a national repository, a national stockpile and you can be dead sure that the back door will have a military access. That I think is the first thing to watch for, Dustin. I don't think there's going to be confiscation of say, you know, silver in the Texas Depository or the Delaware Depository or the Idaho Money Metals Depository or the Sprat Depository in San Diego. That's little known. Um, you can buy Sprat silver and say, "I want to store it in San Diego."
I believe it's in Carl'sbad, which is San Diego metro. Okay, so watch to see. Okay, here's a good voice in the wind. It's New Meire, a first majestic silver. He's a rebel. He's always been a thorn in the government's side. He said four years ago, if if you're going to put a lid on the silver price, we're going to stack it in inventory and only make half of it available. I don't know how long he stuck with that policy, but maybe he would be someone who would
say, "I just got a call and a visit from the Treasury Department and golly, there was a uniform general behind him and they're telling us that we have to sell our silver output to the government silver stockpile." I don't know if you know your history, but Teddy Roosevelt made a 1.3 billion ounce stockpile of silver. I want to thank each and every one of our donors and our supporters and everyone who shops with our Patriot sister companies at redpilling.com as we are 100% listener supported and it
is because of you that we are able to stand and speak. Thank each and every one of you. Oh, this is called 1 billion. I think it was 1905. Okay, it's hard to remember all the numbers, but it was a billion at least. And it got exhausted six or eight or 10 years ago. So, the military wants a new stockpile. China has been working on their stockpile for years. Okay. If we do have some confiscation, I think it'll be it'll start and a good warning from the Department of Treasury to order a direct line from the mining companies.
So that that's something to watch for. You know, in in our business, you got to watch for signals >> and that that would spike the price incredibly though because compet there's a lot of competition from industry. it would spike the price. But we're seeing that now. Um, let let me recount a conversation that I got from I I called him Maxwell from Luxembourg. It's It's funny. We I got the Florida wingman as as a military source. He's near Sentcom. He's in near Tampa. Um, but the but the
Maxwell from Luxembourg was I believe in Switzerland. and he wouldn't tell me. Um, and he became a source of information for me and he told me, "Jim, they're having these bi-weekly lunchons hosted by the Euro Central Bank. This >> I got a chart where influenza 80% drop." Okay. So, he told me that at the lunch, it's every two weeks hosted by Euro Central Bank. They invite traders. They invite bankers. They invited uh individual investors. They in invited billionaires.
And every time they they met, they had an like a little put your little sheet of paper in the box. And at the end, we're going to tell you what you people believe to be the correct equilibrium price for gold and for silver. And it was 400 silver, 10,000 gold. 25 to1. Does that sound reasonable? 25 to1. I I like it. I mean, I did that by quickly dividing a,000 by 400. Okay. Some people can't do that because they need a calculator and they have, you know, they have to get their calculator.
It takes time to locate their calculator. Okay. I'm not impressed with the mathematics ability of our nation. Um, I didn't have my hands on a calculator till I was in my 30s. Um, okay, story for another day. Anyway, Maxwell from Luxembourg went on to tell me another story. This is months later after he went quiet. He said, "Jim, I'm going to get back to you in about 10 days because I think that I'd be able to confirm something regarding the Russians. The Russians hid their gold from the
Boleviks over a century ago. They would make a false, you know, double basement. They would make a false wall behind that, you know, that wall. There's a whole room back there. He said, "We're talking about 200 Orthodox churches all across Russia." He said, "It'll take me 10 days to get back." He got back to me in four. said, ' Jim, it's confirmed. The Russian Orthodox Church just handed over their gold. They got reimbursed. They handed it over to the Russian
military. Two military Eural mountain military bases holding gold, 120,000 tons of gold. If you want to compare it to Fort Knox, it's about 14 gold knock uh Fort Knox 14 to 15 Fort Knoxes. So, we already knew they had 25,000 tons under the Kremlin. Now, we know they have 120 other,000 tons in two military bases. Good luck, Basel, getting your hands on that. Not going to happen. What we're seeing, Dustin, I think, is a decentralization of banking. I made a call two years ago. I said, "We're going to see a gold price coming
out of Johannesburg, coming out of Singapore, out of Sydney, Australia, out of Hong Kong, out of the Kremlin, Russia, Moscow. We're going to see obviously out of London and Zurich. We might see one in I said Johannesburg that's Africa. Um Dubai uh and maybe more. We're going to see a decentralized pricing system with decentralized banking and it's going to feed right into the digital finance phenomenon. This is a paradigm shift that will not stop until it's completed. I have some distrust also
about, you know, digital ID and if you make it big on a on a crypto like XRP, >> what will I have to do to cash out? Well, maybe not cash out and borrow against it. Then it's an issue of what stable coin can I take as a loan against my crypto XRP in collateral. Okay. There are going to be ways around the social credit scoring system. >> Speaking of which, you actually just brought me to kind of a side question. Um, and I've thought about this before, but I know some people want to borrow
against their silver stack. Do you know how to do that? >> I I don't. But >> banks are probably going to start being more open to using silver as collateral now, I guess. >> And crypto. They've already started. I think you you've got you got to come up to speed on this. I I want to show respect, but >> I I understand it's very useful and I understand the technology and there are some great gains to be made. I just think that it's a it's a trap. >> Well Well, that's fine. get back to me
in two years when it's standardized and across the entire planet. >> I know. >> And and you're scratching your head. >> I know it's coming. I agree with you. It's coming. >> Right now, we've got bridges being built from the Wall Street banks and the big banks to the coin exchanges that were never there before. We've got stable coins being offered as uh with a yield in Coinbase. And they're not talking about 5% a year. They're talking about a low percent per
month. Okay? The bridges are being built and it it's a situation where they don't really want their competitors to gain an advantage over them. So, they're all doing it at once. The United States is behind. Europe and Africa and Asia are ahead of the United States in the digital transformation in banking. There are there are digital methods of paying in Africa that are not available in the United States. We are behind and so are our analysts in recognizing this. Let me just say that there are going to
be new methods to post as collateral your XRP, Bitcoin, and Ethereum, the big three, and take a loan. The loan is not going to be in a dollar form that you pick up at the bank. It's going to be a stable coin like RLUSD out of Ripple. And they're going to be mechanisms to use stable coins at ATM machines. Okay, it's it's coming like night follows day. And let me just say I Okay, we've got a a flip side to that. Useful giants. Black Rockck and JP Morgan. I think by implications,
they've loaded up with billions of XRP coins. Therefore, they might get out of their insolveny dustin by endorsing XRP as a global standard and then being cheerleaders with the US government. Because let's face it, JP Morgan runs the Treasury Department. So, the Trumps, including the boys who don't look like Donald, they're talking Bitcoin. I think they're buying XRP and they're making specifications that I believe only XRP meets for the banking system. So, we may see JP Morgan getting
out of their insolveny and overcoming their silver shorts by means of XRP going up to 100 or much higher. Okay, this is very >> real quick. I've been my position is for a while now been that like basically the crypto markets are stealing thunder from the physical markets and there's a competing new system coming whether it be real money or this digital control grid but uh I mean I see where you're going with it and you're right it is going to happen for sure and there will
be money to be made with it. >> Did I lose you there? It broke Okay, it broke off for a second. No, we're going to we're going to lose the traditional banks from obsolescence. They either get with the program or they die. That that is what I firmly believe, Dustin. Um this is a remarkable phenomenon where I I don't believe that standing still will be profitable or remain competitive. >> Yeah, >> this is this is what I do. Today is my father's birthday. He He would have been 106.
He died at 101. Um, they're stealing my identity, so I got the date behind me, but I like to put this out here. Also, um, silver is not done. Silver's going to move. We might have a delay. call it a long cup of coffee, maybe a seat at the park bench uh at 80, but you know, when we're in uncharted territory, the technical analysts are at a loss. There's no way of saying, well, we got, you know, remember two years ago, we were at 80 and and we were there for like four months and there was
significant volume there. There are a lot of people waiting to sell there. There are nobody waiting to sell at 80. It is now only a situation where individuals and institutions say a lot of people waiting to sell there. There are nobody waiting to sell at 80. It is now only a situation where individuals and institutions say we've GOT A LOT OF PROFIT AT 80 and Fibonacci it has spoken so let's take a little bit off the table and sit back and see what happens. That's what I think is going to happen
at 80. Um >> how long do you think I mean if if there's a pullback how long do you think that's going to go for? like a week or two, >> something like that. Th This is This is scary. >> Very scary. >> Big bull ahead. I think >> big bullhead. We're heading to 100 maybe by Oh, I don't know in January. It could be early January. >> Yeah, I agree. >> Let's Dustin, it could be in four trading days. Okay. >> It Okay. I have a couple friends who are
making tremendous amounts of money in their silver because I told them five or six or seven years ago, I would overweight silver. I know you got pretty much even, but I would, you know, once we get to 2,000 in gold, I I think I would move a bunch to silver. And now they're thanking me and and it it's nice to see. But, uh, you know, I got my 10 cup out out and I'm waiting for a little tip. Um, it'll come. It'll come. When I get over 100, there's going to be a different line of discussion for
silver. It's going to be how expensive must it be in order to cause problems with certain sectors. Electronics is not going to be a sector where it causes problems. Because the silver is like under 2% of the cost for an electronic device like a motherboard, you know, whatever the technology tech tech what do you call it? The technological device is 2% 3% as a component. No, no, not going to matter. But how about the electric battery for a torpedo by the US Navy? Oh yeah, baby. That's going to be a cost
issue. But something interesting about military and cost. They lie about the cost and then a year later you find out what the actual cost was. They call it a cost overrun. I call it an initial fraudulent estimate. When was the last time you had push back on cost overruns in the military? >> Never. Okay. So, who is going to be objecting to a high silver price? Will it be the the panel makers for photovoltaic solar panels? Maybe. Maybe. Here's a little secret. >> Maybe. >> Here's a here's a little secret.
Everywhere you see solar panels in a farm, you got a lot of copper wires. Copper and silver now are somewhat tethered um because of solar demand. Copper they they say copper has a PhD in economics from you know plumbing, cars and electronics. Yeah. And copper co sorry and and silver has a master's degree. Okay, fine. I'm just having fun. Um, >> it's definitely I think we all agree it's going up at this point. >> Solar is not going away. No. >> Uh, what what I think is going away is
the lithium electric battery. >> Are you follow real fast? Are you following the new silver battery from Samsung? They're buying up whole miners production for years now. >> All silver with ASSB. Um, all solid state. all solid state silver battery ASSB. Yeah. Uh they bought up Mexican supply. Okay. Remember, Mexico is not providing their silver to the market. They've declared themselves their own little cartel and they're looking for, you know, partners. I think China, Ecuador, Chile, they're going to join. I
They're already selling China concentrated or of silver at the ports. Who owns the ports in Mexico? China. Okay, this is all one big game. So, yeah, Korea is now in the room. Uh they want the silver. Um we're looking at a complete vacating of the silver supply. We're looking, as I said before, the physical market taking control for price discovery. How much silver is on that ramp to sell and deliver? You don't have it. All right. 10 bucks higher. We'll get back to you in a couple days. That's
what's happening. The there's a risk obviously of a shakeout and they'll they'll try to, you know, pump the ETFs and shake the price down to to get out the lowhanging fruit when it comes to leverage. I get that. Especially when you're doing like a 100x one leverage paper. >> It's not working. They're raising the margin >> as a as Yeah, that too. >> As a paper investor, yes. But what if, and this is maybe a novel approach, what if you're a silver stacker who's been
hoarding forever and you've got, you know, tons or or hundreds of ounces or whatever it may be at your level. I know a lot of people are out there that are that are like this. There's a lot of stackers. What if you want to buy more physical now by leveraging your current stack to then buy more and then leveraging that stack to buy more and then basically within two weeks or so you've actually made enough to pay off most of your loans at this point and then do it again. >> There's a problem with that. I I've had
a couple client Okay, I've got an advantage. I I do consult calls and in six years, Dustin, I'm not making this up. I got over 800 consult calls. I got I got two or three to do next week. I might do one or two in the evenings this week, but uh it's Christmas and people are busy. Um there's not much silver to buy for the stackers. Miles Franklin has very low supply. I did a consult call with a guy in Virginia and he said, "Jim, they were lined up around the corner at the silver
and gold dealer all to sell, not to buy. There's a shortage of silver coins nationwide. That's what happens when you suppress the price and you have some actual demand. You lose your supply. So now the main supply what they said this is two or three clients said the same thing one was Texas one was Virginia I can't remember the other they said the available supply is like sunshine rounds not Maple Leafs from Canada not silver eagles from the US there's no supply of the US mint hey no supply from the US
mint let that sink in the dealers are not loaded with supply. So, I don't think the stackers are having much success. If you wanted to buy a a monster box of 500 silver coins, I think you got a waiting list. So, leveraging of stackers, >> yeah, >> is not the game right now. It It's the big billionaires and sovereign funds, governments buying silver. Well, I I have somebody sent me like 10 ounces and if somebody wants to borrow against this or I will borrow against this 10 ounces and buy nine more ounces
and just keep doing that. >> Where are you going to buy it? I I'd like to know. >> I will find uh a dealer that still has some supply or I'll buy the cheap generic stuff or whatever. It's kind of a contingency if you can find it. >> Okay. I think people have to be careful with their uh silver rounds. Um, let's face it, Sunshine is now a major name. The Sunshine silver rounds have a recognized name and you will be able to sell that later when we get way over $100.
But if you buy a bunch of wacky doodle silver rounds, um, be careful. You might not be able to sell it so easily. Okay, we we may be getting to the point where certain instruments like say Sprat PSLV will be important for benefiting from the silver price advance because Sprats PSLV SPAT asset group they have direct connections to mining companies and they're ahead of the dealers in the supply chain. That's the place to be is the silver mining companies or I have land that has silver in it and just having sat on it
for the last couple years or using it for something else and then now's the time to start prospecting. Get out there with a shovel. >> Yeah, I don't know anybody who does that. Um I just know I just know stackers. >> I would be uh I would be out there with my own gold rush pickaxe, like a hat, you know, leather apron like old school. I'll pan. I don't I'll get out there with a pan and a bucket. Um, I'm trying to take advantage of one foot in the precious metals pond and the
other foot in the digital finance pond because of what? Okay, I've got seven colleagues and my smartest crypto guy, who by the way made on the order of $500,000 uh in crypto between 2013 and 2020. He made half a million dollars. He studied a lot. He taught me a lot. And we we we converse and I don't want to share more information about him or his identity, but he had been my mentor. And now I'm catching up to him and and we're having like even keel discussions. I I say, "Well, what about this?" He said, "I
hadn't thought about that. Tell me more." So, you know, there's a give and take. It's not just me, the student, you know, Kohai and Sensei. Um, he told me, "I'm selling my Bitcoin. I'm selling my Ethereum. I'm loading up an XRP. You should do the same. It's only 50 cents. I believe it's going to $50. I only need $50 to retire. And I think that if you buy a bunch, you'll be looking at 50 on the way to a much higher price. And it'll be a tremendous opportunity for you and your
clients. Study up. That was a year and a half ago, Dustin. So, I've had an XRP chapter in the newsletter now every month except except one this year. By the way, I don't know if you're aware of this, Japan has ordered its entire financial sector to be XRP compliant before the end of this year. I I've known that the basically every central bank has signed on to this uh new system which is heavy XRP and heavy um compliance. there's strings attached to it basically >> with that. But we're allowed to
disagree. I've done a lot of research >> and I risk I think >> I I know outside the United States that's not been a problem and Britain has just slammed that. >> Britain has just >> I think Spain has as well. Yeah, I I I heard that Spain had rejected digital ID. I hope more. >> This is we're going to see a lot of national rejection of digital ID. Um, and what they're concerned about is security and personal uh personal privacy. Privacy and security. Okay, let
let's just watch to see because that's why I think it's not going to happen. Anyway, that that's an argument for another day. Um, >> why I always assume the worst work from there. Yeah, but you got to you got to study to see what is happening because Bank of New York Melon has just signed a contract with the DTCC to tokenize the derivative market and and they're talking about a couple trillion dollars a week or per day. I think they're going to start out per week. If that happens, you're going to
have to put a couple more zeros on the XRP price. They've already begun that process. Bank of New York Melon is like the designated uh New York City trust entity to do clearance for the DTCC. Okay. NASDAQ is is coming on board. Uh Swift is a really interesting I I tell you I slammed Swift because they're nothing but effing liars. They they've got a contract with a a company, what is it called? consensus, I think, with an SYS at the end. Consensus >> and that's like uh I don't know 13,000
banks that are now using XRP with the Swift transfers. Okay, this is happening under your nose. Um so it's going to be exciting. There are some things to be careful about. I admit I I got one decent buddy in Texas and we talk once in a while and he thinks that the digital ID is is one of the biggest threats to the crypto world in the next year. >> Australia is having a a major free speech issue with it right now, too. But go ahead. I'm sorry. >> Yeah. Well, okay, that I didn't know
that. I I I never mind interruptions. Never because I talk too much and I get worn out. And besides, it's your show. Um, thanks for having me on, by the way. This is fun. >> It's good to have you back on, Jim. >> I have studied digital finance now for the last 18 months and I have not quit. Some people are saying, "Oh, Jim will pivoting to digital." No, no, no. I'm expanding. I had been, you know, dollar, petro dollar, banks, gold, central banks. That was my emphasis for a long time.
And a year and a half ago, I decided I got to learn about smart contracts. The ledger, the XRP ledger is going to become a major standard. Okay. I had a little map. I had some fun. It was a November report. I called it the Ripple campus. They just got a bank license, Dustin, and the implications are enormous. Enormous. >> Yeah. >> Why would Wall Street allow? But they're not bankrupt because they can find liquidity from the Fed. Now, >> I learned that that works until the volume is too big.
Is 17 or 19 billion on a single night too big? Yeah, that's too big. >> That happened recently. 17 billion >> 17 billion. Here's what I think's going to happen. They're going to be some subsidiaries of Wall Street banks. They're going to keep the Wall Street banks out of the name, out of the press. They're going to call them hedge funds. You're going to hear their names. You're not going to recognize the names. They're going to have failures. They're going to have big, big losses.
We're not going to hear whether they went bankrupt. We're only going to hear that they had losses. Later, the researchers will find that they're really associated with Bank of America, Goldman Sachs, Cityroup, and JP Morgan, and we're going to learn that later. Their hedge funds are all little subsidiaries. Okay? I have a client who's in Florida now, and he was a hedge fund manager, and he won't tell me what bank. He said, "Jim, the hedge funds have arms length distance from the Wall
Street bank. The connection is through their finance, their lending, the funding, the credit. So, here's 20 million, here's 80 million, here's more. Go ahead, do your leverage. Use the basis trade for the for the treasuries, you know, off the interest rate swap. Make your money, make your three ten of 1%. Leverage the out of it. And if you lose money, we're going to be able to say it's but it's arms length and the Wall Street bank is the lending arm to the hedge fund. Dear listeners, I was able to
upload a portion of this interview which lasted approximately 2 hours and 6 minutes due to YouTube rules. You can watch it in its entirety from the link in the description. Now, some brief information about Jim Willie will be given. Dr. Jim Willie is an analyst recognized in international finance and economic circles for his distinctive viewpoints. Commonly known simply as Dr. Jim Willie. He is often said to hold a doctorate in an economic related field, though precise details about his academic record are not widely
documented. He is best known for his work shared through his website Golden Jackass, as well as various online interviews and podcasts. His main areas of focus include fluctuations in the financial markets, central bank policies, currency trends, and particularly the future of gold and silver. A defining trait of Dr. Willy's commentary is his emphasis on precious metals, gold and silver, as critical pillars of the global monetary system. He argues that modern fiat currencies, especially the US dollar, suffer from
structural problems stemming from central bank policies and the complex nature of international finance. As a result, he foresees a scenario in which the dollar weakens while gold and silver strengthen. Dr. Willie is considered by many to be an unconventional financial commentator. His analyses often diverge from mainstream economic narratives, occasionally integrating views that some label as conspiracy theories. Yet, this alternative perspective has resonated with a community of followers who value
his exploration of issues they believe are overlooked by mainstream media and big financial institutions. Two, the golden jackass platform and content structure. Dr. Willie disseminates most of his research and opinions via his personal website, Golden Jackass. The unusual name is meant to highlight his unfiltered approach. He describes himself as presenting blunt truths without fear of reprisal. Many of the articles and reports he publishes on this site revolve around major geopolitical and macroeconomic
developments. Typical topics on golden jackass include gold and silver market analyses. Willie is known for predicting significant spikes in gold and silver prices. He argues that continuous monetary expansion by central banks will ultimately raise the value of precious metals while eroding confidence in fiat currencies. Critiques of the global dollar system. Willie believes the US dollar status as the dominant reserve currency will eventually weaken. He often cites the efforts of countries like China and Russia in developing
alternative payment systems and goldbacked arrangements. Warnings of financial crisis. Willie frequently points to risks that he says mainstream economists ignore, such as the overextension of credit, large-scale derivatives, and the excessive liquidity central banks have provided since past economic downturns. Geopolitical events and their economic effects. His analysis goes beyond pure economics to examine how geopolitics impacts commodity prices, trade flows, and especially the dollar standing in international
markets. Some content on Golden Jackass is available only to subscribers. This paid model supports his independent research, which he claims allows him to investigate topics not widely covered by mainstream financial analysts. Three, economic analysis philosophy and methods. Dr. Jim Willy's approach to economic commentary blends macroeconomic data with monetary and geopolitical factors, resulting in what many consider a heterodox style. Key aspects of his method include historical cycle analysis. He frequently references major
financial crises such as the 1929 Great Depression and the 1971 end of the gold standard to draw parallels with current policy missteps. He views economic cycles as influenced by political and social factors, not just by raw data, debt, and credit examination. Modern finance, according to Willie, is excessively reliant on debt. He emphasizes growing global debt levels and warns that they are unsustainable. Central bank balance sheets and leverage banking practices are frequent targets of his critiques. Comparative currency
analysis. Willie tracks how key currencies, the US dollar, the euro, the Chinese yuan, and the Russian ruble compete against each other. He underscores the role of gold reserves and potential gold backing as crucial in these contests. Geopolitical context. Willie treats diplomacy, strategic alliances, and military advantages as integral to economic outcomes. He sees global finance and politics as intertwined, asserting that a policy shift in one arena reverberates throughout the other. Reliance on
alternative information sources. Willie occasionally cites unverified or non- mainstream information, claiming that official data and media may conceal the full story. Critics argue that this tendency can lead to the spread of unsubstantiated conspiracy theories. Four, main core perspective, transformation of the monetary system. One of Dr. Willy's central thesis is that the global monetary system is undergoing a profound realignment. He believes that the post Bretonwoods world order in which the US dollar has enjoyed
near hegemonic status, is coming to an end or is on the brink of doing so. As central banks keep expanding their monetary bases, he expects rising inflation to push individuals and institutions toward tangible assets like precious metals. At the heart of this view is the idea of the coming end of the dollar or the demise of the petro dollar system. According to Willie, the following trends are evidence of this shift. Countries increasing gold reserves. Emerging markets including China, Russia, and Turkey have been
accumulating gold potentially to establish alternative payment frameworks involving gold. Petroleum trade in currencies other than the dollar. Willie cites China's moves to pay for oil in yuan as a direct challenge to the dollar's monopoly in global energy markets. Alternative payment systems, new networks to replace or supplement Swift, such as China CIP, could undermine the dollar's role in global trade and lessen its power as a vehicle of economic sanctions. Willie portrays these developments as gradual, with many
going under reportported. The eventual result, in his view, would be a breakdown of the dollar-centric system that would profoundly disrupt financial institutions and national economies while boosting the position of gold, silver, and other real assets. Five, the role of precious metals, gold, and silver forecasts. Dr. Willie is particularly noted for his commentary on gold and silver. He argues that these metals have served as money throughout history and assume the role of safe havens in times of crisis. While central
banks can expand the money supply almost limitlessly, physical supplies of gold and silver remain finite, favoring these metals in the long run. He often alleges that gold and silver prices are manipulated or suppressed. According to this viewpoint, major banks use large volumes of paper gold futures contracts derivatives to depress spot prices as letting gold prices rise organically would highlight fiat currency's weaknesses. Willie also applies this argument to silver, contending that silver is likewise undervalued but
manipulated. Nevertheless, Willie believes that such price manipulation cannot persist indefinitely. A surge in physical demand, he argues, will sooner or later expose discrepancies in the paper market, leading to a dramatic revaluation of both gold and silver. In such a scenario, gold could rise well into the thousands of dollars per ounce, while silver might break into tripledigit territory, an outcome that could shake the entire global financial system. Six, the US economy and Federal Reserve criticisms. Given that Dr. Jim
Willie is primarily based in the United States. He frequently critiques the Federal Reserve Fed. He contends that the Fed's policies of quantitative easing and prolonged low interest rates have masked deeper problems while magnifying systemic risks. In his view, these policies only offer temporary fixes without addressing underlying debt and leverage issues. His key points of contention include unback money creation. Willie argues that the Fed's expansionary practices are disconnected from real economic productivity. Over
time, such policies lead to higher inflation, even if official statistics do not fully capture it. Banking system vulnerabilities. According to Willie, large US banks are more fragile than they appear due to their exposure to highly leveraged derivative products. Wealth disparity. He contends that Federal Reserve policies inflate asset markets. stocks, real estate, mainly benefiting the wealthy while rising costs of living erode the purchasing power of lower and middle inome groups. External debt and trade imbalances.
Willie points to America's escalating national debt and trade deficits, predicting they will reduce trust in US Treasury bonds over time and threaten the dollar's reserve status. Willy's criticisms draw from independent research and alternative media sources, which he sees as less prone to presenting sanitized official narratives. While his supporters view him as exposing under reportported truths, critics accuse him of selective data usage or undue alarmism. Seven, geopolitical analyses, East West
economic rivalry. Dr. Jim Willie incorporates a geopolitical lens into much of his economic commentary. He posits that the world's financial and political power is shifting from Western nations, particularly the United States and the European Union, toward eastern powers like China and Russia. This shift, in Willy's view, involves energy resources, major trade corridors, and the struggle for technological advantage. Key points he often raises include the belt and road initiative. Willie believes China's massive
infrastructure project will reshape global trade routes, reduce reliance on the dollar, and accelerate Eurasian economic growth, goldbacked currency deals. He speculates about the possibility of China and Russia jointly introducing a goldbacked digital currency or forming a trade block that circumvents the dollar. Energy wars. Willie states that which currencies are used to settle oil and natural gas contracts is vital. if Russia shifts to selling energy in rubles or yuan or in exchange for gold. He sees this as a
direct threat to the petro dollar system, diplomatic and military tensions. He asserts that international tensions and conflicts can hasten financial decoupling leading to regional economic blocks and alternative payment networks that erode the dollar's reach. Willie often cites Russian, Chinese, or other non-western media sources to bolster his arguments, which tend to frame developments as part of a broader east-west struggle. While mainstream sources may find these views too stark or speculative, Willie supporters regard
them as a clearer portrayal of how global power balances are evolving. Eight supporters and critics in the realm of economics and finance. Dr. Jim Willie is considered an alternative analyst rather than part of the mainstream. This status has earned him a committed following while also drawing criticism from established economists. Supporters belief in expose of hidden realities. They see Willy's commentary as a revelation of financial manipulations overlooked by mainstream channels. Precious metals enthusiasts,
investors bullish on gold and silver tend to resonate with Willy's stance on the eventual surge in precious metal values. Those interested in conspiracy theories. Willy's emphasis on secret deals and under the radar developments appeals to people who suspect official narratives are incomplete. Critics accusations of excessive speculation. Critics argue that many of Willy's forecasts have either failed to materialize or lack solid backing. Disconnected from market realities. Some economists see Willy's views as too
extreme, diverging significantly from conventional market indicators. Promotion of conspiracy theories. Central to their critique is that Willie relies heavily on data or rumors that mainstream economics deem unverified. Dr. Jim Willie often counters these critiques by stating that time will prove him right. His followers tend to regard short-term inaccuracies as less important than the larger long-term trends he highlights. Nine major themes in publications and interviews. Dr. Jim Willie appears regularly on podcasts, in
online interviews, and through articles in which he reasserts or refineses his views about global finance. Recurring themes include monetary policies and the prospect of inevitable collapse. Willie often labels the ongoing wave of central bank easing as unsustainable and believes it will lead to an unprecedented debt bubble, global trade and the dollar standing. He focuses on the likelihood of the dollar losing its primacy in oil transactions. In his view, geopolitical powerhouses like China and Russia are accelerating this
shift. Manipulation in metal markets. According to Willie, the only reason gold and silver are not trading at much higher levels is price suppression, which he believes will eventually fail. Investment suggestions. While stopping short of giving direct investment advice, Willie regularly emphasizes the value of holding physical gold and silver. He sometimes comments on real estate, cryptocurrencies, or other commodities, but his primary stance remains consistent. Tangible assets are a hedge against potential financial
turmoil. 10. Dr. Jim Willy's forecasts and their accuracy. Like many financial commentators, Dr. Jim Willie has made various predictions over the years. While some have aligned partially with real outcomes, others have not materialized according to his expected timelines. Critics highlight inaccurate or postponed forecasts, especially concerning the swift collapse of the dollar or hyperinflation that did not occur as predicted. Willie and his followers attribute such delays to factors like ongoing market manipulation
or new geopolitical agreements that slow down the anticipated shifts. They also stress that his analyses revolve more around long-term structural issues than short-term market timing and that certain economic events might simply be unfolding later than initially expected. At the same time, supporters note that Willie accurately pointed out the continued expansion of central bank balance sheets and the trend of countries accumulating gold reserves. Whether these represent unique insights or broader trends also recognized by
mainstream analysts is open to debate. 11. Conspiracy theories and critiques of mainstream economics. Dr. Jim Willie sometimes embraces viewpoints described as conspiracy theories, such as allegations of covert arrangements among global banking elites or claims that certain financial institutions deliberately engineer crisis. These comments often lack direct support in official reports or academic literature, undermining their acceptance by mainstream experts. Nevertheless, Willy's core audience contends that the
very absence of this information in major news outlets is evidence of systematic cover-ups. This tension results in a polarized reception. While some commend him for tackling subjects that major economists avoid, others dismiss his arguments as relying on rumor or anecdotal evidence. 12. Building an audience and media strategy. Dr. Jim Willy's influence stems in large part from digital media. Rather than appearing frequently on television networks or in major newspapers, he has cultivated a following through. His
website Golden Jackass. The subscription-based model allows him to finance his research and post in-depth analyses without relying on traditional editorial norms. Podcasts and interviews. Alternative finance channels invite him to discuss his views, giving him a platform free from mainstream editorial constraints. Social media. Willie uses social media platforms to share shorter commentaries and link to his more extensive articles or interviews. This approach targets a niche yet dedicated audience,
particularly those skeptical of mainstream financial narratives. Willy's unconventional or controversial theories find an environment of fewer restrictions online, aligning with audiences seeking alternative takes on global economics. 13. Dr. Jim Willy's place in the financial world in mainstream banking circles or academia. Dr. Jim Willie is not widely cited. Instead, he operates as an independent commentator, an outsider who both intrigues and polarizes observers. Critics consider his warnings overly
dire and his reliance on unofficial data problematic, but the financial turmoil of previous crises has also made many investors more open to unconventional perspectives. Those who value his work stress how events like the 2008 financial crisis validated skepticism toward institutional analyses. Willy's arguments about the unsustainability of constant monetary easing and the precarious nature of the global debt burden echo broader concerns, though he often frames them more bluntly. Overall, Dr. Jim Willie sits at the intersection
of alternative finance commentary and mainstream critique. While he has a loyal core following, he is also subject to ongoing scrutiny by economists and analysts who question his methods and conclusions. 14. Conclusion and assessment. Dr. Jim Willie stands out in alternative finance circles through his strong critiques of central banks, fervent support for gold and silver, and emphasis on significant geopolitical realignments. His central premise is that the current global financial order, especially the dollar-based system, is
unsustainable. According to Willie, everinccreasing debt and persistent market manipulation will eventually trigger a major monetary crisis. one in which holders of real assets, particularly precious metals, will thrive. Yet, questions remain as to whether his most dramatic predictions will unfold precisely as he envisions and on what timeline. His track record has been mixed, and skepticism about certain forecasts lingers. Supporters respond by emphasizing that Willy's perspective is best understood as a
warning about underlying fragility. fragilityities that may require more time to materialize or that might manifest in ways not easily predicted. Regardless of these debates, Dr. Jim Willie has established a definite niche. His analyses, whether embraced or doubted, compel audiences to consider alternative possibilities and deeper layers of the global financial system. For that reason, those who engage with Willy's writings often do so with a blend of caution and curiosity, recognizing that while his approach can
veer into unconventional territory, it may also provide a valuable counterpoint to mainstream narratives. >> Don't forget to like our video and subscribe for our channel.
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