gold news

 I want to ask you this because in light of these bank failures and um I sense that you probably expect there'll be more to come um are you seen and it's just more of a curiosity are you seeing like an uptick in business or interest goldsilver.com of folks kind of seeking as you put it at the beginning of the conversation honest money gold and silver just curious what you're seeing out there well we did during the uh you know when the banks were failing but now that first Republic has been absorbed by JP

Morgan everything has slowed down and it amazes me that I mean if you read the book uh you can sort of see that there is a destiny out there I'm typically early uh but so far everything that I've said is unfolding a whole bunch of the things that I predicted in my book the first book came true and uh but at a on a much larger scale than I ever had imagined I mean the scale of what Ben Bernanke and uh Jerome Powell have done is just horrific and the thing is uh that all of the energy that gets stored up from trying

to paper over something that should have been balanced by the free markets if the 2008 financial crisis was allowed to continue and things sought a a reasonable level and all of the excesses flushed out of the system then we would have built uh the the economy would have come back there would have the recession would have been deeper and would have been worse but the economy would have come back and would have been healthy uh they papered over all those cracks in the foundation and the cracks have only

gotten bigger and every time they do this it sort of adds energy to this nightmare tangled web of complexity that the financial system has become we keep on layering these I mean nobody can really understand it there is so much going on with all these different financial instruments and and uh the way that currency is created it is uh just this super complex but super fragile thing part of the fragility was caused by uh protecting it against stress uh when you stress something over and over and the little piece breaks here or

little piece breaks there you can redesign it uh when you protect it against stress but you keep on building complexity and making this thing uh more and more unstable and that's where we are right now you're seeing the instability uh being revealed in this but with all the papering we've done with the trillions of the trillions of dollars that were created to paper paper over this uh I believe that this time you know the last time Global financial crisis of 2008 we came within a few days

of the entire world financial system freezing up um and now we have countries uh actively seeking to abandon the US Dollars the world's the global Reserve currency uh the um this time around I believe that we have the uh potential of the whole system just completely freezing up and that means that credit you know when Banks don't trust each other and when they at the when they won't loan to each other then there's more bank failures because at the end of every day all the banks are uh doing settlement they're

paying each other but they're also borrowing and loaning to each other at the end of every day uh if uh that doesn't happen if those loans are not made because uh One Bank thinks they may not get paid back by the other bank the entire system freezes up you can't get currency out of your checking account your credit card no longer works that means that uh you know the grocery stores can continue selling stuff for cash until they run out but they can't do wire transfers the gas stops coming out of the pump everything

stops it is a dangerous system and you know you can opt out of it to a certain extent with precious metals but uh we are sort of Trapped in this very very dangerous Ultra complex system that we just get you know the FED just created another credit facility they keep on creating these different you know we had the tarp program and we had this and that uh they keep on layering more and more complexity