The David Knight Show - INTERVIEW All Time High Global Debt (and Gold)

Episode Date: October 17, 2024

Tony Arterburn, DavidKnight.goldGold hits ATH (All Time High) this morning and again during interviewRemember a few months ago when those bullish on gold were predicting $2,700 by Jan 2025?  Today is a couple dollars shy of thatGlobal debt is soaring to ATH (All Time High)Expectation of war, inflation, and unrest at ATHWhen will silver explode?Money should have intrinsic value AND transactional privacy: Go to DavidKnight.gold for great deals on physical gold/silverIf 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: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7For 10% off Gerald Celente's prescient Trends Journal, go to TrendsJournal.com and enter the code KNIGHTBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-david-knight-show--2653468/support.

Happiness. We all know what it feels like, but sometimes it doesn't come easy. I'm Garvey Bailey, the host of Happy Enough, a new podcast from The Globe and Mail about our pursuit of happiness. We know people want to live more fulfilling and positive lives, but how do we actually do that? Is there a happiness code to crack? From our relationship with technology to whether money can really buy you happiness, we'll hear from both real people and experts to demystify this thing we're all searching for and hopefully find ways to be happy enough. You can find Happy Enough wherever you listen to podcasts. Well, welcome back.

And how are we going to keep the American dream alive? How are you going to defend what you own? Well, I think one of the best ways to do that is with gold and silver. To get out of the fiat currency. To get out of the way of the hyperinflation bus and the debt bust that are headed towards us our guest now is uh tony arteman of wise wolf gold tony has set up david knight gold it'll take you to his website you can buy gold or silver large or small amounts you can also start to accumulate gold on a steady basis each month. You decide how much you want to save and set aside, and you can have the advantage of being part of a buying group that gets you a better price on that. Thanks for joining us, Tony.

That's great to be here, David. Yeah, don't let fiat currency throw you under the debt bus. You're going to get run over by the debt bus. We were talking about that off air. And, of course, gold hit its all-time high again. This is sounding very repetitive, isn't it? I feel like Bill Murray on Groundhog Day. It's hit its all-time high again.

It's like Gold Hog Day. It's funny because I was telling a customer a couple of days ago, I said, well, the time between all time highs for gold for me was 2011 when it hit almost 2000 and, uh, 2000 or 2020 when I was hosting your show in Austin. And, um, that's the difference. That's, that's the difference between all time high. So 2011 and 2020, we have a gold has broken. It's alltime high 30 times in the last nine months wow wow that's amazing yeah it's on quite a streak let's talk a little bit about silver uh because i've seen uh you've been talking about silver for quite a while uh that it is poised there's a lot of reasons for

it to break out now you see a lot of people in the financial press talking about silver and they are saying that it is um one person in particular said well i'm looking at about a 32 price uh once it gets to that point and stays there a little bit i think it's going to jump to 50 pretty quickly what do you think is going to happen with uh silver i think there's some wisdom in that i think um the higher that it goes just being pushed naturally right now for supply and demand and it's nowhere near what the price should actually be if you look at the amount of deficits every year as i've mentioned before it's around 200 million ounces a year that we're

just short so for all the mining that's done everything that's all accumulated around the world all the refining there's still 200 million ounces that are short every year from demand and that demand is continuing to go up but mining is not increasing supply is not increasing the reason i think you have so much disparity in the price and why it's so strange is because of the contracts that are held by these bullion houses then you kind of look back and you look you kind of see you reverse engineer the price and you see that uh jp morgan chase was convicted of suppressing the silver price and then you dig a little further and you realize that jp morgan chase is the largest holder of silver uh private holder of silver in the world

you wonder why would they do that why would they continue to suppress the price well i mean they're accumulating um that's what the super wealthy have been quietly doing over many decades have been acquiring silver. It's been cheap. As you know, you go back to the price chart, look at the 1980. It was $52.50 an ounce. It was driven up mainly by the Hunt family in Texas that were buying it and buying physical silver, getting physical delivery. Other people started buying. It drove the price up.

The Hunt family, I believe, was deep stated in a way. They were taken out and bankrupted because they were exposing the weakness of the dollar. It was cheap all through the 1980s into the 1990s and even the 2000s. But right now, I think what's happened is you can no longer, with world demand, with things like solar, EVs, the need for silver, the military-industrial complex demand for silver is massive, as we've discussed before. There's 500 ounces of silver in a Tomahawk missile, which was basically what you call a monster box in the gold and silver industry. A monster box is 500 ounces of silver. So there's just a huge demand not enough supply and i think a lot of these contracts and things with the bullion houses and paper

silver i think that will be exposed as the price continues to climb because more and more uh people will want to cash out silver has been kind of a dead space people like me have been talking about why is it so cheap you should get some you should hold it it's it's it's undervalued well you can only say that too long until you know that beach ball if you try to keep underwater it's going to eventually come to the surface i think that's what's happening right now once we hit i think mid 30s david uh all bets are off it goes to mid 30s and i think we'll we'll easily scoot to 40 and 50 an ounce there's no reason in this economic climate with everything around us being like inside this uh this psychological experiment whatever this is

called an election um this whole thing with our country the entire thing it's a patch yeah it's some kind of psyop that we're all in it's amazing to me that silver isn't more expensive. I'm glad that it's not right now because it gives people the ability to accumulate. Let's look at the price right now. Let's look at silver price compared to gold price. Now, gold prices is an all-time high. So $26.92, it's just went up $3 since we started the conversation.

Another new all-time high. Another new all-time high. So we'll put that on the list. I'm going to get that song from one of the James Bond movies. It Another new all-time high. Another new all-time high, so we'll put that on the list. I'm going to get that song from one of the James Bond movies. It's an all-time high. Just put that on a loop. Yeah, well, I think that would be a good Bond film. Who's suppressing the gold price?

It's kind of like a follow-up to Goldfinger. Yeah, he's got his gold finger on the price there. And then we're going to divide that by $3,189. So it takes 84.4 ounces of silver to make one ounce of gold wow for this chart um which is uh ridiculous because that if you read history that's never been that way ever ever not even close it's usually 10 to 20 to 1 between 10 and 20 alexander hamilton and the founding father they set it up at 16 to 1 in this country and it was that was 16 ounces of silver to make one ounce of gold that stayed from the founding united states until 1933

when franklin roosevelt said turn in your gold to use the one of those executive orders and they raised the price to 35 an ounce but still that ratio uh was would be you know basically 35 to 1. well 84.4 doesn't make any sense especially when you're looking at uh geologically it's 17 to 1 in the ground that's what it's supposedly so 17 ounces of silver to one ounce of gold in the ground and the big tell that i've never heard anybody else bring up but i thought was you know pretty much glaring is the uh the market cap if you look at the market cap for gold it's 16.4 trillion and the market cap for silver is 1.4 trillion so there's 16 to 1 um i think that's probably more accurate so if we do it that math david let's look and let's see where we would be if we were just in line with what the founding fathers set up for silver uh if you divide that yeah 168 dollars

an ounce yeah that's where we would be yeah which seems to me i think just logically silver at 100 an ounce is i think is a probably a a good indicator that something's stabilized and there's a the repricing has worked because we we're not watching something go up we're watching the the inversion we're watching the dollar lose purchasing power that's what i think we kind of i have to remind myself that all the time it's not that i've still got more valuable it's just that when we're repricing commodities which is what's happening right now the bricks meeting is in three days and that's what they're trying to do. They want to reset commodities. They want to reset the way that they structure trade and get away from the dollar system.

And a lot of that's going to have an impact on the price of commodities because they don't want to price anything the way the West does anymore, the way that it's denominated in dollars. I think this is what the big news out of all the thing it was last week i think that uh i covered an article some guy went through and he looked at the uh the the price of dollar in a lot of different currencies and what the trend was in a lot of different currencies and he said uh we've been seeing it you know steadily going up in all these other currencies and everything and even more so uh a steady trend up than with the American dollar. And he said, and yet, you know, Switzerland was kind of the odd man out. And he says now is that they've caught up and now it's on a trajectory like that as well in Switzerland.

So all these other currencies, you know, the U.S. dollar is heavily manipulated. But looking at it in these other basket of currencies, it's pretty consistent in the way that it's going i look at silver as because my main interest in gold is um not getting rich but and having uh you know trying to play markets and time them and all the rest of stuff but uh my main thing is i'm just concerned about uh you know hyperinflation i'm concerned about c about CBDC and other things like that. So all of this stuff is there. It's really as kind of a wealth insurance to make sure that what you have isn't just going to be eviscerated because the dollar just goes to zero. That's part of it, but it's also the fact that

they want to completely restructure the financial system. That was of biden's move um in the spring of 2022 uh four different things that he wanted every part of the deep state every part of the swamp every part of the bureaucracy to look into number one thing was uh changing the financial system completely restructuring it as part of implementing cbdc so when i look at silver i think about it in terms of you of having something that is a lower unit value so that you can actually use it more in transactions than you'd be able to do with gold.

It's a little hard to do that with gold because of that multiple that's there. Now it's a big multiple. Yeah, it's more like gold is savings and silver is cash. You could use it that way. And it's a lot more divisible it's structured in a way for it to be spendable that's why the you know the silver dollar was so ubiquitous here in the united states um especially after the comp stock load in the 1870s

there's this major you know push to put make the morgan silver dollar that's why you it's so famous uh was used all the time. There was a gold dollar. I think I brought one on the show. It's a little tiny. You'll lose it. It's easy to lose. A little tiny bit of gold. I forget how much it weighs, but it's just a really small coin.

And I think it's worth about $200 today. So go figure. That's what happens when you decouple the dollar from gold. But yeah, you're right. Silver and gold are a great way to be outside of the digitized system. And the more that I think about it, the more I read history and look into the monetary system, the history of money, CBDC is a massive threat. And I think probably the number one thing that we need to have on our radar to oppose um to speak out on uh to push back against and uh you know set up systems to to get around it um and i think that's that is going to happen i think states like we've talked about before a lot of the states

decentralizing making gold and silver legal tender um you know passing laws against central bank digital currency. This is great. This is great news, especially because we've been talking about it for years. I thought I was going to be alone on this for a while, but it's finally reached a little bit of popular discourse. More and more people will have physical precious metals. This is a wonderful thing. And outside of the system, history is on our side. The digitized stuff is new and you know is it going to completely supplant uh the way that we transact i don't believe so i think that it'll look a lot like uh well i mean it's surveillance disguises money first of all it's not really meant to be

an efficient monetary system because really the most efficient monetary system is a mixture of of cash and currency backed by something that's stable so you can save it. Fiat, this experiment, has failed. It's a god that failed. And I think we were talking off-air about debt to GDP around the world. It's not just here in the United States, but global debt is $100 trillion for governments. It's projected by the IMF, 115 percent of debt to gdp for the entire planet so the world is bankrupt i mean that's where we are how are they going to get

out of that well news flash and i hate to spoil it for you but they're going to print more currency which means it devalues your current currency that that it's going to lose purchasing power we're in a fiat experiment that's not going to end well. And that's why they know that. And I think that's why they throw out the great reset term a lot to kind of get you used to a monetary reset. It's going to benefit them. But gold and silver are part of this story, which is my point, is that human nature, human history, whatever it is with these metals, you can go back in the Bible. It's biblical. It's part of our story. And I don't think it's going to go away

you know rod serling had a an episode of the twilight zone i don't know if you remember this episode david but there is these uh bank robbers uh they robbed a bank or something maybe it was a train that was carrying the gold from the federal reserve and they they had a scientist and he was able to cryogenically like animate the suspended animation for 100 years or something they woke up and they try to go catch this gold in um and so anyway the the episode ends with somebody from you know 100 years in the future pulling up in the kind of car and saying what's he got with them and And then somebody says, is that gold? People used to use that as money. It was meant to be that ironic consequence of wanting something that has value

then and it doesn't have it in the future. That's an interesting concept, but my reading of history, I don't think that's ever going away. I don't think that for whatever reason, I don't think that's ever going away i don't think that for whatever reason i don't think that um mankind will ever not want the the the precious metals or not want to have some sort of access or use them for something they'll never be at zero um but uh fiat currencies will i think that episode was written by who was the person who said that gold is a barbaric relic? John Maynard Keynes. Yeah, Keynes. Yeah, as a barbarous relic. It's an interesting concept.

Yeah, that's funny. Well, you know, when you're talking about, you know, that gold coin and the $1 coin, and now it's worth $200. But it was a small coin to start with. Imagine if you created a $1 coin today out of gold. You'd have to get a magnifying glass out to find it. It'd be like, honey, I shrunk the coin. You know, Rick, what was his name? Rick Morano or something.

Huh? Yeah, yeah. And he's looking at, he's got his big helmet there with all the magnifying glass. Where did I put that gold coin? That's what we'd have because of inflation but um yeah it's the the you know that that's another part of it you know the historical uh aspects of hyperinflation of fiat currency and all the rest of that is the same way that we've seen uh the historical effects of gold i've got one guy here he's saying five reasons that he thinks that gold prices are going to keep rising and will hit $4,800 by 2030. That's Incrementum is the company he works for.

That was on Kitco News. That's actually kind of a conservative valuation, I think, when you look at it. $4,800 by 2030? I mean, we're talking another six years or something. I mean, that's very conservative, I think. Well, I mean, yeah, I think it's extremely conservative. My projections would be over that. I was short of where we are now, though.

I didn't think we'd be seeing $2,700 an ounce gold. I mean, we can go back to our interviews. I wasn't projecting that. I didn't think that it would break that fast. But something is giving way, and there's something in the underlying current here. It has to do with de-dollarization. It has to do with the BRICS alliances. If you recall, there was this ominous exchange between Xi Jinping and Vladimir Putin about, was it 18 months ago or so, David, when they had a face-to-face meeting and said,

we're going to be part of the greatest change that's happened in 100 years, I'm paraphrasing, and that's going to be us. There's this alliance that they're creating, these economic alliances after the sanctions, the massive sanctions in 2022 by the U.S. and Russia pushing back on that. This is, I think, really accelerating.

And then we look at the loss of the petrodollar. A lot of open questions there. That used to be the big thing. How did we lose mainland China in 1949? The Truman and Dean Acheson were called communists. And that was a major fiasco for the Truman administration. But how did we lose the petrodollar? And nobody even brings that up.

I mean, literally just lost. And, uh, yeah, I saw her go the other day. Somebody was talking about, well,

all these people are saying, well, this candidate is going to be horrible for the economy and we'll wreck it. And all the rest of the stuff he goes, you don't know who wrecked it. It was Janet Yellen. You know, she's,

she's behind all this policy and Biden administration in terms of weaponizing the dollar. They, they were driving people away from the dollar more than anything. Yeah, they're continuing to drive people away from the dollar, making it unsafe for countries to park any of their denominated currencies in dollars. We're making that apparent. If you do something that crosses the line, we'll repatriate your currency

to whatever cause du jour we feel like. I mean, look at what happened to the Russians. Their own funds were used to give to the T-shirt man in Ukraine to send rockets and other things, offensive weapons into Russia. It's absolutely amazing. Yeah, think about that. We spent a couple hundred billion dollars, and all we got for that was a Zelensky T-shirt. All I got was this lousy T-shirt, man. That's all he's got that was a zelinski t-shirt and all i got was his lousy t-shirt man that's all he's got just a shirt on his back yeah people are getting pretty tired of

that well i think another part of it when we're talking about zelinski i think another part of this of course is the concern about war as this is escalating and we're going to be talking about that coming up at the top of the hour with joel skousen but you've got um the um the israeli government expanding the war uh america is pushing it as well i mean they're chomping at the bit the uh the warmongers to go after iran have been for a long time but israel is even saying i think it was a finance minister who said yeah we're we're gonna we're on our way to damas. I guess they're on the road to Damascus. They're going to have a road to Damascus experience. But, I mean, it's a big-time war, and it's going to be very disruptive of the economy in addition to what happens with the war stuff.

So I think that's maybe part of it as well. But you're right. $2,700. It was just a couple of months ago that people said, J.P. Morgan or some of these people, well, I think we're going to see $2,700 of gold in January of 2025. That really is kind of, we're almost already there, you know, $2,692, we're almost at $2,700 gold. And it was a big escalation when they said that at that point in time a couple of months ago to say, well, look, it's going to get to 27. It's like, yeah, I didn't kind of see that happening. Well, now we're the middle of October, and it's there. Yeah, I don't think you can compare this

time to any other time in history, really. It's never really happened this way. I mean, it doesn't repeat itself. It often rhymes, but you can look at the 1970s, David. I mean, they raised interest rates to the teens, had the Nixon shock and inflation. Jimmy Carter called it malaise. But what happened, there was a decline in the price of gold. Gold was $800 an ounce around the time I was born at the end of the 70s. And then it dropped into the $200 and $300 an ounce and stayed that way. It was pretty flat through the 80ies and into the nineties.

Um, that's because they raised interest rates. Well, Jerome Powell raised interest rates faster than any other time in history after 2020, 2021 and gold went up. It's it's all time high. Something happened that didn't work. And then they did the same thing. They did this back in 2011 and really just a word from from ben bernanke uh back in 2011 said look we you know we had tarp funds we bailed out

some of these banks are too big to fail and we won't do that again because the gold was going up and close to two thousand dollars an ounce and silver uh fifty dollars an ounce um but they uh reeled that in uh with that statement and so people started dumping their silver and gold holdings and got out of that and so that's why gold and silver went down and stayed that way again there was a 2011 to 2020 was the gap of gold's all-time high and now we've done it 30 well we've done it since we've been on air again so it's 30 30 uh 31 31 times 32 times in the last nine months well i think you know uh as you're pointing out raising the rates didn't work and um i think we're going to be saying that about a lot of different things financially uh these people uh that are pulling the levers uh they really don't know what they're doing and uh they're kind of, as we were saying off air before we came on,

I said, yeah, we're reaching this Looney Tunes moment where everybody's run off the cliff. And like Wile E. Coyote, we don't really realize that there's nothing under us yet. But when that happens globally and people look at this massive debt and phony currencies and everything that we got, we're going to drop like a rock. And then what happens is somebody drops the Acme Anvil on you as well. That's the next thing to fall right on top of us as we hit rock bottom there. Tell us a little bit about what's going on at Wise Wolf Gold. Well, yesterday I was announcing on social media that I redid my personal website, which is a good start because I've been saying this for about two years.

I was going to update this. I finally got most of it done, and I was going to ask people to go and sign up for the newsletter. We have a free newsletter we're going to do there. I'm going to have a shop set up for some of my stuff and T-shirts and things I haven't done yet for my podcast and the Arterburn radio transmission. But it's Arterburn.gold. I even came up with my own logo for it. So go check out Arterburn.Gold and sign up for the free newsletter.

Tell me what you think, guys, on the website. I put that out yesterday. And your broadcast is immediately following this one on Twitter as well as is it Rockfin that you're on? I'll be on Rockfin on the America Unplugged channel on Rumble America Unplugged and my Twitter at Tony Arterburn.

You can follow me there for the live stream, and feel free to join us. It'll be at 11 a.m. Central Time, 12 Eastern. Great. Great. Immediately after this program. Yeah. Yes, sir. Anything else that's going on?

You got your new website, Our Arterburn Gold, and redesigned that? What else is happening? Redesigned that, Arterburn.Gold. new website our art of bring gold and uh redesign that what else is happening redesign that artobern.gold um we still got uh the program there was a big push last week i talked to you about wolf picks and we're setting the price in the morning we're still working on that it's been uh that's going to be hard with it jumping up and hitting all the time crazy yeah that's what we we set it and then we have to take it down because like i don't know if i can fill that order so go check out wolf picks over on wolfpack..Gold and go to DavidKnight.Gold.

And we're just trying to come up with innovative ways to get people the best deal and take advantage of knowing us. We buy a lot of stuff at the shop. So WolfPack is a good way to do that and WolfPix. Well, it's crazy times that we're living in right now and i think um things are only going to accelerate even quicker always great talking to you tony thank you so much for supporting this program and again go to davidknight.gold i'll let you let tony know that you're coming through us that'll take you to wise wolf gold get gold silver you can join the wolf pack and he's got the wolf picks that are there as well a lot lot of different things. Tony's always innovating and changing things.

Thank you so much, Tony. I appreciate it. Thank you. Appreciate it. Let me tell you the David night show. You can listen to with your ears. You can even watch it by using your eyes.

In fact, if you can hear me, that means you're listening to the David Knight Show right now. Yeah. Good job. And you want to know something else?

You can find all the links to everywhere to watch or listen to the show at thedavidknightshow.com. That's a website.