The David Knight Show - Governments Moving To Metals As The Dollar Collapses

Episode Date: January 22, 2026

Tony Arterburn (DavidKnight.gold) warns that the surge in gold and silver isn’t a market cycle—it’s a symptom of systemic failure as debt, de-dollarization, and political chaos collide. He explains why governments and central banks are abandoning Treasuries for physical metal and how Trump’s push to dominate the Fed and spend without restraint accelerates collapse. Money should have intrinsic value AND transactional privacy: Go to https://davidknight.gold/ for great deals on physical gold/silver For 10% off Gerald Celente's prescient Trends Journal, go to https://trendsjournal.com/ and enter the code KNIGHT Find out more about the show and where you can watch it at TheDavidKnightShow.com If you would like to support the show and our family please consider subscribing monthly here: SubscribeStar https://www.subscribestar.com/the-david-knight-showOr you can send a donation throughMail: David Knight POB 994 Kodak, TN 37764Zelle: @[e-mail] App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7Become a supporter of this podcast: https://www.spreaker.com/podcast/the-david-knight-show--2653468/support.

All right. And again, joining us is Tony Arderman of Wisewolf Gold. And of course, you can go to David Knight. Not gold. And that'll take you to Wise Wolf and let him know that you came through us. But people who listened to Tony, I think, probably did pretty well last year. Maybe we didn't have our wealth doubled. But if you bought into gold and silver, especially if you did it in the way that Tony has set up, I don't know anybody else that lets you gradually accumulate gold and silver. You can kind of set it up as a savings program. Wolfpack. You can decide what level you want to buy into, how much we want to set aside each month. And you can kind of dollar cost average that in. And we had another all-time high this week, didn't we, Tony, because the people worried about what Trump was going to do with Greenland. Another all-time high yesterday. And as a matter of fact, it's hard to keep up with how many it's like a broken record. That's right. But then, of course, there was some sell-off as Trump said, now we're not going to have war with Greenland or whatever. You know, there's, there's that kind of reaction to these things that happens all the time. But talk a little bit about

where we are right now. And I just mentioned earlier in the program that we're on track to hit $40 trillion by the end of September at the current rate. Now, that's assuming that Trump doesn't come up with any new grandiose scheme that he's going to dump a bunch of money into, you had Jesse Waters this last week when we're talking about Greenland, just casually say, yeah, we can get it for $700 billion. it'd be great, it'd be a steal. It's like, yeah, it's only another trillion dollars. Remember when Senator Eric Dixon said, you know, well, a billion here and a billion there, pretty soon you're talking about real money. Well, now we're spending a thousand times that with trillion, right?

And the thing is, we're not talking about real money. We're talking about fiat money. That's the problem. None of this stuff is real and it's going to come crashing down. Well, going back to what you mentioned about Wolfpack and just dollar cost averaging. It's better to protect your wealth gradually than try to do it suddenly. Kind of like you go bankrupt, like the Hemingway reference. So we're really, really, yesterday we got official word that the trademark for Wolfpack gold came in. So I was glad I owned the name.

It took a little while, but that's great. It's an idea, you know, the idea of the Wolfpack and just setting aside a little bit of the Fiat value that you have that's diminishing and let us find it for you. I have a great crew, great team, and it's been increasingly difficult to do what we do in the face of these prices. And I think we prepared for it. Well, I wasn't prepared for these types of price spikes because this is not market-related, David. I don't believe that the market's truly driving this. I think this is governmental, as I discussed last week with you.

I think it's funny, you see this kind of language popping up now in articles and KitCo. It's like, well, governmental, you know, it's the stockpiling of rare earth minerals and stuff. So it's beyond what we've experienced in the last 50 years. And I think this is going to, obviously there's some market forces built into this, and there will be pullback and sell-offs and profit-taking and all the rest. But, you know, we're in completely uncharted territory. And you mentioned the debt. And there's a great book called The Big Print by Larry Lippard.

and I read that. I think he's on to something when if you look at all the culminating events with central banks and governments around the world, they've put themselves in such a place where that's why they float the idea of talking about Davos is the great reset. You know, this is something they have to put out there to the consciousness because they're going to, this is mathematically inevitable. Yeah. They have to do a currency reset. But there's going to be probably this singularity event where there is a big print.

Like you mentioned going to $40 trillion in debt, and then unless Trump does something, you know, Trumpish and some outlandish thing, which is more likely than not, that we're going to have some sort of event where there is a massive print. and it might be coordinated by central banks around the world to prop up their own markets to stave off collapse. Because all these indicators of prices are just these are the outliers and the tell. It's the sign. How do you spell outlier now? I think we spell outlier with a L-I-A-R. We need to get these liars out, get them out of Congress. Congress out of Washington. But yeah, you know, he could easily do this with this golden dome thing.

You know, that's what he's talking about with Greenland. He could build a golden dome with all the gold that's in Fort Knox if there is any. And then some is probably what he would spend on it. I mean, as soon as he does this massive tax increase, he calls it a tariff and he just imposes it himself. And then he says, oh, and I've got $600 billion. So let's just put it all in the military budget. you know, forget about the, even the rebate that he said he was going to go to people. Forget about getting rid of the income tax. Nothing of that is going to happen. He will put it into the military.

So, yeah, he's going to just continue to tax and continue to spend, just like a Democrat. I think one of the most astonishing metrics that I've seen is that if you take all of the revenue that we take in, minus the tariffs, but if you take all the revenue of taxable internal taxes and you put them together, that just services the interest on the debt. Yeah, yeah. That's where we are. That's where we are. He's so desperate to get control of the Federal Reserve under his singular control, right?

You look at these evil institutions that are out there, as I said yesterday, the U.N., the Federal Reserve. His instinct is not to end them, not even to reform them. His instinct is to become them, to become a, to become a, one-man Federal Reserve, a one-man UN with his peace board and all the rest of his stuff. He's not going to change anything for the better. He's going to use every problem to make himself more powerful. And that's what's really going to be happening with the Federal Reserve. That's the real issue.

It's the money on the debt. Because when he lowers interest rates, as you've seen, and we've all seen, the longer-term interest rates for home mortgages and things like that would sometimes go up. they'll be unaffected or they'll go up when they lower the short-term interest rates. And I think you're also something else that may kick in pretty soon is as he's, you know, gotten all these people in NATO and Europe angry over this Greenland thing. They were already starting to talk about doing a boycott of buying U.S. treasury bills. That could bring things to a head too, couldn't it?

It absolutely could. I mean, I was listening to your show yesterday. you mentioned that central banks now hold more gold than they do U.S. treasuries. And that metric, again, the dollar is still number one held by central banks. But number two is gold. And it supplanted the euro like 18 months ago as number two. And that's why the European Central Bank, that gold was a threat to the system.

Oh, it's a threat to your fake money, you know. And I think the metrics of dollar usage post- World War II. Right after Breton Woods, it was about 90% of the world used the dollar. You know, we supplanted the pound sterling. And the dollar was the world's reserve currency. So about 90% of usage. And that went to past 1971 and then started to a slow decline. So the year 2001, we're at about 75% of world usage for the U.S. dollar. And then just, I mean, gosh, in the last few years and just talking on your show, this was something I watched. was the dollar usage, so the money velocity.

And it went from about 56% of usage in 2022 following our sanctions on Russia after they invaded Ukraine. And then it's dropped all the way down to about 40%. And just that time. So if you look at the, and that's the phenomenon of de-dollarization. I think that's the key indicator in all of this, whether you're talking about the petro dollar, or anything else surrounding that or how much we're going to print. The dollar usage around the world is declining. And even though 80% of all of our $100 bills aren't in this country,

they're outside of the continental United States and 65% of all paper currencies outside the continental United States, less and less is being used. And eventually those dollars will be repatriated, but we're going to continue to print more as the world uses less. So you tell me what does that spell for the purchasing power of that currency unit? And there's really not any great options to prop that up at this point. If you've lost so much usage in such a short period of time. And that's why I think that's what we're watching really with these prices of gold and silver is, again,

as governmental forces and supply and then showing the weakness of how much, actual physical is in the market, but it's that, it's that loss of usage by the dollars, the world's reserve currency at the same time that's really showing in up, and showing up in the prices of gold and silver day. Yeah, yeah, yeah. I'm just curious yesterday. I went back and looked out. I wonder if we're in the, in the territory of not worth the Continental yet.

So I can look to see what it happened to the value of the Continental during the during the war, revolutionary war. And they started out, you know, referring it to the Spanish dollar, which was out of gold or silver, right? And they made a few continentals that were made out of silver. And by the way, those are worth a lot right now because of, you know, historical value and that type of thing. They've had some of them sell it like one and a half million dollars for one continental dollar because of collectible type of thing.

But, and there were also some pewter and brass versions. of those, and those are selling for tens or hundreds of thousands of dollars as well. But the actual paper that's there, even though it may have some historical value, the paper right away dropped to one one thousandth of its value. So in other words, the dollar quickly became one-tenth of a cent, the paper continental dollars. We're not quite there yet. We have lost since the Federal Reserve was created.

you know, prior to that, we'd been on the gold standard for a very long time, many, many decades. But since the Federal Reserve was created, we have lost 97% of the value of the dollar in terms of purchasing power. So we're not quite incontinental territory yet, but just wait, that may be coming, right? Well, we're very close. If you look at this, some astonishing metrics if you just use a calculator in a little bit of history, you go back to 1930. right before Franklin Roosevelt, you know, had that executive order about turning in your gold. And you look at a $20 gold piece. That was $20.

So think about this. It was $20 in 1933. It's basically an ounce of gold. It's 0.9, 6, 7, 5 ounces. It's the way that it was set up on our gold silver ratio. So a $20 gold piece was basically an ounce of gold. So today, that's around $4,800 at spot. That's what $20 was in 1933.

So the issue is the expansion of the money supply. That's the magic trick. The gold retained its value. It's the $20 that went into oblivion. And that's that 97% that you're talking about. And honestly, I don't think that we've reached a point yet where that the true loss of value has been exposed relative to the money supply. I think that it's worse than it. I mean, think about all of the liquidity that's trapped in these markets or so-called investments

and other things that isn't real. And, you know, you talk about this stuff that's papered over or has been propped up by the central bank. And so I don't think that we're there yet as far as like a complete exposure, like in the reset. But it's going to be found like the true value is going to be found in these commodities. And we're seeing this is the beginning of that. and there's no going back. I've had people call and say, hey, I'm going to pause my subscription

until prices come down. I don't, you know, I love you, but I don't, and I'm not, this isn't even like an infomercial. I just don't believe that's going to happen. And if it does, it will be probably something really bad. Like,

I don't know if you'll be able to use the banking system. I don't know. There's something inherently, you know, I think solidified. in this run. Well, I think the analogy here, I think back to the Warner Brothers cartoons, right, where he had Wiley Coyote and he goes running off the cliff and he keeps going for a while until he looks down and sees that there's nothing there.

And then after that realization, he drops like a rock. And I think that's really what we're talking about. People are going along, you know, running on this fiction of fiat currency. And at some point, people are going to realize that there's nothing to it. and then everything is going to drop like a rock. And then you're going to have this massive boulder of 40 trillion or 50 trillion or whatever it is at that point in time. It's going to be following us all the way down to smash us when we hit the bottom. You know, it's going to be a wily coyote moment.

You're absolutely right. You know, the Ark Buckminster Fuller quote, people cannot get out of the way of what they don't see coming. Yeah. It's just always been some kind of stability thing or we've bounced back or you've had a, you know, end of the 1970s moved by the Fed to raise interest rates to the teens to just get it wrap its arms around inflation. Of course, you could take out the hunt family for exposing how weak the dollar was through silver and stop the speculation and do the, do the manipulation of markets, gold like

they did for so long. And then all of a sudden, central banks start buying gold. And this becomes weaponized against the dollar. And that's what we're seeing. And it's really, you can't do those, can't fix those things anymore. Yeah. And you can't paper over silver. anymore. Good luck. There's too many eyes on it. And it's it's it's become, again, it's become part of the fourth dimensional warfare, you know, nation state currency war. So it's fixed that this market is permanent with the way we are right now. Like we're not going back to $15, $20 silver or $30 silver. I don't see it. I don't see how you could possibly sell off like that. And especially knowing that there's, you know, the metrics, out there are alarming.

Like, you know, the 75% or so of the silver that hits the supply is coming from companies mining nickel and copper. It's like a sideshow. And so if the economy suffers and there's less need for copper or nickel, there's not going to be as much silver because it's something that they just mine on top of what they're already looking for. And so we're years out from, because silver was so low for so long. it didn't support mining companies.

So there's like very little silver mining going on. They cannot reach the levels that are needed for demand. And then you have... We've had a deficit. We've had a deficit for like six years, haven't we? It's been, yeah, hundreds of millions of ounces. That'd be taken from the above ground supply. And there's bottlenecked everywhere, David.

Like, I had to stop buying sterling again because there's nowhere to melt it. And nobody will take it at any price. Like everything's bottlenecked and the same thing with the big trading houses. You want to like my job has become like my subconscious like solves problems in my head while I asleep because I have to get up and we clear this. You know like the amount of stuff clearing because of the amount of selling and then the bottlenecks of it is I know that it's across the board. It has to be industry wide that a lot of operators are like how do I even navigate this because it is so unsublished. certain and yet the prices continue to rise. That's, that's the tell. That's the tell. But something else is afoot here. It's absolutely. You're dealing in an economy that's already in

hyperinflation. You're dealing in silver and gold. Yeah. You know, we talk all the time about that Hemingway quote. Has somebody that's very wealthy go bankrupt. And he said, well, gradually and then suddenly. There was another quote that I went to this, this weekend. And the fact that Hemingway said, look at these corrupt empires. What they first do is they try to inflate everything. It's all things with inflation. The next thing, when that doesn't work, they take you to war. And boy, I tell you, is that not Trump in a nutshell, inflation and war?

It's just, yeah, he is the guy that they've ham picked to lead the sheeple into this whole situation, I think. Oh, the lizard class always does this. They'll give us somebody, like Woodrow, Wilson is like, you know, he ran in 1916. He kept us out of war. You know, what's the first thing he does in 1917 takes office puts us in a war, you know, puts his press macdab in the middle of the war. You know, it's every single time, you know, Franklin Roosevelt, you know, in his, what was his third term comes out? It's like, I've seen war and I hate war and your boys

will not be sent to another, you know, European war. The first thing he does is get us into a war. Like, it's the same. And I hate saying that because, you know, so much of what Trump ran on in 2016, it animated me. You know, it's 36. I go, well, okay, finally somebody's saying this is stuff that I ran on when I ran for Congress. And I'm like, okay, this, he took the populist playbook. I could see he kind of mixed a little Ron Paul with Pat Buchanan. And I could see that it was tap.

I said, this is good. But it's just, it's all smoking mirrors because we're not, we don't have. Just look at our foreign policy. It's schizophrenic. We kidnap people. I mean, we bomb other nations on behalf of other nations. I think it's very telling that the people who hated him so much at the beginning, you know, now really love him. They're the biggest supporters he's got.

That's exactly right. That's the tell. Because he's flipped, you know. And it's one thing for, you know, we look at a candidate that doesn't have any record like Trump. And that was another thing for them. He brings some guy out. He's a celebrity, but he doesn't have any record. so you don't really know what he's going to do. But it's very easy for them to go out and say, this is what I think about this.

And they can have the right perspective. They can have the right perspective about every issue. But then you have to see what they actually do. And so that's why, you know, I couldn't support Trump a second time, especially after 2020. That was just unprecedented what happened with that with a lockdown and all the rest. And I knew that that was the deep state plan that they'd been practicing for 20 years. If that doesn't tell you that Trump,

is deep state nothing well and so yeah that's where we are right now well i think we're easy it's very dangerous times if you think this is normal behavior by by the powers that be i mean you need to read a little bit you need to sit with that and pray about it because i don't think that i don't think that we've behaved like this um there's other empires that have behaved kind of like we are behaving but there's no real example of some a nation with our power and standing that is declined as rapidly as we have, and then also is making plans for something. Like, we can clearly see that we're setting something up, whether hemispheric, I don't know if it's related to the Wolfowitz memorandum in 1992. We're setting up, you know, the thing with Venezuela, looking at Greenland,

like whatever Greenland means to us. There's a lot going on here. And I mean, ultimately, it's, it's God's world. I mean, you've got to leave it up to God. Well, I think there's a lot of pointers going back to the technocracy, of course. You know, we look at the map that he's got there, but it's more than just a map. And it's more than just, let's consolidate everything in the Western Hemisphere under the United States. It also goes back to the fact that they wanted everything valued in commodities and things like that, and energy specifically. And so I think that's a big part of the move in Ben as well.

They have tremendous resources. And so, you know, make that move first, nail that down. and so you keep going back and seeing these contours that looked very similar to what the technocracy wanted. But it is everything that is there is talking about a massive change that is coming. And so that's why it's very important for people to latch onto something that's been stable for millennia,

and that's gold and silver. That's about the only thing that we can do to try to get out of the way of what is coming. And it's going to be difficult to do that anyway. You know, when they have a war that starts, whether it's a domestic civil war that Trump is pushing or whether it is foreign wars and things like that, it's still going to affect us, even if we don't agree with it. There's nothing we can do to stop that. And there's only so much that we can do to prepare for it, but whatever we can do, we need to prepare for it. And a key part of that is to try to get what we've worked for and saved, to try to get that into something that's going to be more stable, like gold and silver.

Well, certainly, especially, you know, with the lack of trust. And you know where the collapse of trust started? It didn't start at the bottom. It started at the top. Look at the central banks. They don't trust each other. It's clear. I mean, the central banks, the financial power, they know what they're doing.

I mean, this is the amount of gold purchased by central banks in 2009 was about 0%. And now it makes up the majority of purchases because the central. banks are moving away from those currents they just see this system is broken so they don't even trust each other they don't trust governments and neither should you i mean this is the system's going through changes so don't don't be too overexposed the thing about i ran a simulation through i to look at the s mp 500 versus gold from 1975 on and it was like well this could be misleading it's like the smp 500 outperform gold if you just bought ounces of gold however you have to

add in taxable gains, companies that went out of business. Like, you'd have to move it around. It wouldn't be. So you're talking about counterparty risk inside of that. If you just bought gold at the end of the day, like, you know, in 1980, it took one ounce of gold to get a share of the S&P 500. By 2000, it was five ounces. And then by 2011, it's 0.5.

And then declining. So that's where, you know, you can look at the metrics of how much it costs to, to play in something of the traditional stock market, but you'd just been better off with counterparty risk and exposure and not having to do anything, you've been better off just buying an ounce of gold. Yeah. To play all those games that you have to play in the traditional markets. That's right. Yeah. Just to try to preserve what you've got at this point in time, rather than to try to, you know, hit a home run with timing or something like that. Anything that you want to tell us besides the fact you've got now got, well,

Pack trademark? Was anything else happening with? No, I'm real thankful for that. Just, you know, just thank everybody who's still a part of it. You know, we're doing the best we can at the shop. I had to stop buying. And I don't know how long I'm going to run this, but both of my physical shops, I stopped buying at 3 p.m. daily. Just can't do it anymore. It's so much coming in. And, you know, I try to serve as many people as I can. But it's, it's been hard on my cruise. And I'm like, I'm going to stop buying it three, give people a break and catch up on inventory. You can always buy from us. That's never a problem.

We've got plenty of supply right now. But I would just say, you know, for those who are in Wolfpack, it's just hold as long as you can because, you know, we'll continue to put, you know, the best products in there that I'm always looking for loopholes too. Like, what can I find that would be, you know, even more interesting? And I started doing another thing I did, David, is anybody's, if you're in Wolfpack, you're going to get like some collectible stuff. When you get silver dollars from me or like silver dimes, like there's mercury dimes, there's barber dimes in there. They're worth like five times what I put in there. I don't have time to do collectibles, but you'll get them at no charge.

I'm just charging you for the silver. Literally. And I would say, I talked to Yeka about this, my head trader, and she's wonderful. I said, we're just doing melt on constitutional silver. She said, yeah, I said, just continue to do that. So we, because there's no outlet for it, like I can't even sell it to the trading houses anymore. They won't take it. I mean, just because they're so backed up and I won't get paid for weeks.

So the constitutional silver, if you go to Wolf or David Knight not Gold and then go to Wolfpack, that's called constitutional wolf. If you go into one of those packages like $2.50 or $5, you can buy it one time, you just get stuff at spot. So like you're getting silver dollars at spot. I mean, that's nuts. And because that's what we're having to buy them under melt level. So you're getting, getting, and there's collectibles in there too. So that's probably the best deal that I have right now. Who knows?

Maybe you'll get a continental silver dollar. No, no. That one I'd like to keep. I'm sorry. One half million dollars for an ounce of silver, right? Yeah, I think I'd hold on to that one. But you do get silver dollars from the 1800s all the time. those morgans. I put those in there. I buy them by the bag full. And so we just pass those on

to Wolfpack members. That's great. Well, I really do appreciate it, Tony. And it's been a good thing for all of our listeners who have gotten into this, of course, in the last year. I don't see anything changing except for the trends getting worse. And Gerald Slynti sees it the same way. As he said, you know, Trump has been really good for silver and gold because he's really bad for the economy. So, for the dollar, and that's only going to accelerate this next year as he becomes the Federal Reserve himself. And, and they continue that we're going to hit the $40 trillion mark. That's going to be a shot in the arm to gold and silver psychologically right there. Because, you know, every time you see something happen, you know, when gold crosses a $2,000

an ounce milestone. So I go, okay, everybody recalibrates the way they see things when it crosses 3,000, when it crosses 4,000. Well, what's going to happen? when the debt crosses $40 trillion. That's going to be an event. Easily be a $5,000 gold here very soon. And the silver will hit 100. I don't know what happens next. Yeah.

I don't know. I don't know. These are definitely, definitely no going back. Yeah, this is a, we're boldly going where no one has gone before. I guess we could say we're goldly going where no one is going. I like that. That's very good. Okay.

Well, thanks, Tony. always great talking to you again go to davidnight dot gold that'll take you to wise wolf and um you can buy whatever you want uh tony will sell it to you or you can start your own savings program with wolf pack thank you so much tony always great talking to you the common man they created common core to dumb down our children they created common past to track and control us their commons project to make sure the commoners own nothing and the communist future. They see the common man is simple, unsophisticated, ordinary, but each of us has worth and dignity created in the image of God. That is what we have in common. That is what they

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