The David Knight Show - INTERVIEW Crypto CEO Gets Hacked for $112 MILLION But CBDC Remains the Greatest Financial Threat

Episode Date: February 1, 2024

2024 is declared the "Year of De-Dollarization" by BRICS. Will the Fed make it the year of CBDC?States are making some moves towards constitutional money. What can you do?Tony Arterburn, DavidKnight.gold joinsMoney is only what YOU hold: Go to DavidKnight.gold for great deals on physical gold/silverFind out more about the show and where you can watch it at TheDavidKnightShow.comIf 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.

joining us now is tony artaban tony has wise wolf dot gold to help you get gold and silver and any small or large amount on a monthly basis as well and he supports this program with david knight dot gold which takes you to tony's site but also uh lets him know that you're coming through us. So joining us now is Tony Ardman. Thank you for joining us, Tony. Good to see you. It's good to see you, David. Hey, if Diogenes was around today,

he'd be a David Knight listener, I'm pretty sure. It's funny about Diogenes. I heard a story a long time ago from a friend of mine. He was my first squad leader in the Army, and he became a history professor, and he told me a story about Diogenes. You you know he's always on the lookout for an honest man but he wouldn't he wouldn't look in a mirror either if you held up a mirror he turned away because he was looking for an honest man so i always thought that was fun a little bit of a little bit of

great philosophical history there that's good we all need to be aware of our faults don't we and that man in the mirror can be very very accusing, Kenny, if we really are honest about it. Maybe Russell Brand will get there. Maybe he's starting to get to that point, but I'm not so sure about Tucker. He's the one that I've got even more concern about. I'm not sure that he's looking for any honest people. He's looking for famous people. And sometimes it's good to be infamous if you want to build an audience. But let's talk about what's going on with gold. I mentioned earlier that there's even more states that are talking about getting rid of sales taxes as well as income taxes on precious metals. They mentioned, the four states they mentioned, Kentucky and Wisconsin getting rid of state sales

tax if you buy gold and silver. Georgia and Kansas would take it off of income tax if you're buying gold or silver or getting rid of it, that type of thing. Of course, other states like Tennessee, we don't have an income tax. So Tennessee has already taken it off of the sales tax. How many different states are there that don't tax gold and silver, precious metals? I think we're coming up on a majority of the states now that don't have a sales tax on gold and silver.

And it should be more and more getting added every year. One of the reasons that I have land in northwest Arkansas, but one of the reasons I don't have my shop in northwest Arkansas and I went across the border into Branson, Missouri, is because Missouri didn't have a sales tax on gold and silver bullion. And you can't be a gold and silver dealer. Nobody's going to pay it. So, you know, just from a business standpoint, the states would be wise to lift those restrictions because no one's going to have that commerce going on in your state anyway. So again, this is how you know it's grassroots and from the people, because it has

to do with lifting restrictions and getting rid of taxes. That's how you know it's not coming from the top down. I think this is part of the demand from the bottom up, David. We're seeing that, again, people going to Walmart, going to Costco, they're selling out of gold bars. People understand instinctively there's something wrong with their currency and this is what's happening is this causing a uh an effect all across the country of lifting these restrictions yeah and what they're talking about is uh essentially all precious metals gold silver platinum and palladium uh palladium bullion beginning in august if if these things pass.

Even in Wisconsin, they're talking about removing it from copper bullion. So again, this is, but when you look at gold and silver, this is not only just helping people to get something that's going to be a preservation of wealth, but it's also, I think, a necessary component for it to be used in trade as a currency. And I think that's another thing that's driving that, the fear and the understanding of a lot of state legislators about how shaky the dollar is. And, you know, we don't want to have, if we have taxes on the exchange of gold and silver, then you can't use it as a currency. Well, I think this is the future too because of the loss of the purchasing power of the dollar and the loss of the uh dollars the world's reserve currency i think is going to

create a a multi-faceted currency selection it's not going to just be something like the bricks the brazil russia india china south africa it's not going to be something like the bricks create the new world reserve currency in my opinion there's going to be something like the BRICS create the new world reserve currency. In my opinion, there's going to be a handful, maybe more, maybe a dozen different currencies used around the world and the dollar will just get supplanted that way. I think this is, again, you're watching gold and silver become legal tender in more and more states. Internationally, this is going on as well. So I think we're seeing this is a very positive trend, David, because the dollar is losing that status. People are waking up to that. It's slowly but surely.

And we're going to see more and more of this on the horizon. Yeah, I agree. And the Kansas bill has two bills. They explicitly reaffirmed that gold and silver are legal tender. So that is a big part, as you pointed out. And as far as the taxation goes, Peter Schiff says, well, you know, stuff has already been taxed when you look at inflation. That's a tax.

No. You know? You can't double tax it. Exactly. Exactly. And, of course, that's the argument that people make, you know, with the estate tax and things like that. You know, when you when somebody dies and the

family is taxed on the value of the estate it's especially true of of homes now of course land is going to go up in value but you look at homes you know after they're they're paid off after 30 years or whatever and and it's supposedly worth um 10 times or more uh what it was when they bought it 30 years earlier and it's now 30 years old and not brand new. So that's built into it. And when you look at the valuation of a family business or a farm or something like that, that dollar figure that's there, they don't adjust that for the inflation. They say, well, it's like this all happened in one year. it went from X to 100 times X or something like that. And so, you know, a lot of that or all of it in many cases is going to be just a higher value based on inflation. So that is a really unjust form of taxation.

And it is not about, you know, Jefferson was supportive of things that would stop wealth from being passed on from generation to generation because he wanted people to earn it themselves. But he wasn't looking at a central bank and the kind of engineered inflation that's going to artificially inflate this stuff. Well, no, he wasn't. Thomas Jefferson believed in tariffs. I mean, about 78% of all the revenue that the government collected for the first 120 years of its existence was from foreign imports. We taxed you at the border. And if you wanted to

gain interest to America's markets, you had to pay for it, which that's a taxation I agree with. And I think it can be strategic. It's called economic nationalism. Pat Buchanan wrote about it a lot. I think we were better off when we had economic nationalism. Now we tax from within and you can't really own your home, can't really own your property, a property tax, you have income tax, which really wasn't a part of our history until 1913. Yeah, you had the during the Lincoln administration to pay for the Civil War. And there was again, but that got struck down. It was deemed unconstitutional because we had to have the 16th

Amendment. And that really goes hand in hand with the Federal Reserve because somebody has to pay the interest to the banksters. So, no, I think this is, you know, you look at something like Bitcoin, David, and I've been in the Bitcoin business since 2016. I had Bitcoin ATMs for a long time. The reason that it's not taxed, you know, if you're, there's no sales tax on Bitcoin is because it was recognized as a currency and more and more in the consciousness of gold and silver. Now, gold and silver are money and there's a difference between currency and money. Sometimes they can be the same thing, but I think more and more people are recognizing gold and silver, physical gold and silver bullion is money and is currency. And that's why it shouldn't be taxed. Yeah, I was talking to Aaron Day the other day,

and he's completely focused on the CBDC stuff. He'd been involved in politics. He said, now, this is the thing. This is the hill to die on. He even ran briefly for a president so he could get in and talk to some of these candidates. But he's written a book about it. And he said, you know, when they did this to Bitcoin,

when they moved it from something that was designed to be used as currency to something that was a store of wealth, uh, it completely changed the character of it. And, uh, so he said, you know, it's, it's got an issue with, in terms of the, um, the speed at which you can do transactions, the capacity of, um, capacity of that structure to handle a lot of transactions. But that is a key thing. So you're talking about it being money as well as currency. What is your distinction between money and currency?

Well, money has to inherently have a store of value. Currency can be like a fiat currency just by decree. And, of course a currency like a electric current if it stops it dies and so that's that's why it has that's why there's something called money velocity in uh the Fiat currency world you have to have more and more usage it's basically a giant Ponzi scheme when people stop buying into the system yeah and that's why if you look at uh you know the 80 of all the hundred dollar bills ever printed are in the continental United States, it's the petrodollar. It's used in transactions all over the world.

When people stop using that, and I've talked on your show earlier this year, we spoke about the economist Robert Triffin. You have Triffin's dilemma. Back in the 1960s, he was asked before Congress, what happens if we lose that status of the world's reserve currency? Because back then, as you know, a lot of countries were taking notice that we took the silver out of our coinage. We had guns and butter, and LBJ was going to make the Great Society on the Mekong. There was something wrong with the U.S. dollar, and that's why eventually, you know, 1971, Richard Nixon has to take us off of the gold standards because we couldn't honor the Bretton Woods Agreement. So, again, our dollar went from being money and currency to just currency and free floating. And the dollar is now the oldest living fiat currency in the world.

It's, you know, the average lifespan is about 26 years. We've doubled that, and we'll see how it all ends up. But it's not going to be well. And that's what I was, I did a little video last week on my channel. And I just talked to me, I held up a one ounce gold coin and I held up a US dollar. And I said, now what's the difference between these? One of them is currency and one of them is money. One is a store of value.

It has a value inherently in and of itself. It could also be traded and used as currency. And one other thing is just it's given psychological value, and there's a demand for it. So for a brief period in time, it can give you some wealth, but it's an illusion. And that's what I think a lot of people are coming to understand, especially after the last three or four years. I mean, with the loss of purchasing power. I even asked in that video, does your dollar buy the same amount of groceries that it did three years ago, two years ago? Absolutely not.

When you talk about velocity and keeping this currency flowing, that's one of the key things that they want to be able to manipulate with CBDC that is going to be even more powerful for them because they can impose negative interest rates and things like you either spend it or you lose it. And it's not just negative interest rates. They can put a timer on it. This is all, here's some money and it's going to expire in such and such a amount of time. And of course it doesn't even have to be the money that they give you.

It could be the money that you've earned and it's going to expire in a certain amount of time. So you better spend it. That's an amazing tool for these bankers to be able to prop up velocity. And that is such a tantalizing prospect for them. They're going to pursue this with every ounce of their fiber. It's just the dream of these people who control all of this stuff. And of course, as you were pointing out, when they changed the U S from a system of taxation at the border and no taxation internally, I think a large part of that was, as you pointed out, and we all know is, you know, they create the income taxes at the same time they created the federal reserve, they change, and then they take down tariffs uh they change it to internal taxation

i think that allowed them one aspect of it is it allowed them uh to have a greater taxation because they really they couldn't ramp up the tariffs that they keep ramping up the tariffs people just stop buying stuff elsewhere and they start making things internally and buying stuff from each other within the united states but you can't escape the taxes when they make them internal and when they start to tax every single thing that you do everything that you own and so it was just the difference between night and day they they had everything now there was no limit to the amount of money that they could make with taxes because there was no limit to anything that they could tax. Well, right, and I think history shows that it was a way for the elite

to make sure that no one ever competes with them. They created their foundations prior to the 16th Amendment. This was part of the elite keeping their status forever and making sure that you can never climb up the ladder. Tariffs always get blamed too for, oh, that's just an arcane throwback. It doesn't work. It's isolationism. And I'm thinking, well, all four presidents on Mount Rushmore agreed with tariffs. So how's it working out in the modern era where all these free traders and all these free trade agreements, I'm all for free markets. But i think when you're talking about in the modern era and this is something that almost never gets talked about anymore but we throw our workers into some darwinian contest survival of

the fittest with countries with no regulation with slave labor you know and again that these multinationals they just they thomas jefferson was right when he said merchants have no country they just they don't fight for us these big have no country. They don't fight for us, these big companies. They don't fight for lower taxes or deregulation or any of that. They just move wherever they want and ship the products back in. If you look at movies like Ferris Bueller's Day Off, when Ben Stein plays the teacher, if you listen to the lecture he's giving in the movie, he's talking about how the Smoot-Hawley bill back in the early 1930s caused the Great Depression, which Smoot-Hawley was a tariff to protect the American workers in a time of economic downturn. And, you know, years later, Ben Bernanke would actually admit that it was the Federal Reserve that caused the crash.

And we wouldn't do that again. So, you know, to channel Pat Buchanan uh a smoot and holly were framed a smooth holly the federal reserve was actually the culprit in the in the great depression again the tariffs have have always been a part of the american character but yet when they started taxing inward that was the play to give the elites free run of the game. They don't pay income tax. They don't, you know, what was the, I think I was a couple of years ago, GE paid zero. This giant, general electric, giant multinational paid zero income tax. So I'm paying more tax than the GE.

How does this work? So it's not a, it's part of, and I think this is part of the, you know, the communist manifesto as well. Graduated income tax tax all of that so we have to um we have to be careful not to get too comfortable with all of these things that are really anti-american in the first place maybe that's why the students didn't answer uh ben stein you know anyone anyone you know out there they're all saying is he feeding us that Keynesian BS again? It's funny. I just, years and years ago, I was just watching the movie and I go, well, he's absolutely wrong about that. You know, of course, Einstein was a speech writer for Nixon.

Yeah. Yeah. They're just like, what is he getting at? We don't believe any of that stuff. No, when you were talking about these, these merchants who have no country of course the technocrats have no country either i remember the discussion that musk had with uh vivek ramaswamy where they're talking about yeah we just got to bring the best people in here i don't really care about these americans let's just get some cheap labor in here that type of thing and i looked at that i thought

you know these guys they have absolutely no loyalty to this country they want to uh just open up the gates and uh you know it's like an exploitation from the top down you know when you look at musking look at what ramaswamy were advocating in their little discussion i thought it was absolutely reprehensible didn't get much attention but jefferson would have known where they were coming from whitney absolutely well you go back to you know was it three or four years ago dis, Disney was insourcing new employees and having the old employees train them before they let them go. I remember that.

I mean, there are corporations in America today, ladies and gentlemen. Yeah, we're going to bring in cheap foreign labor, and you can just walk away or you can train your replacements and we'll give you a little bit more time and we'll give you a little bit more of a severance package. That was the deal that they offered them. Yeah, it was reprehensible on a lot of different levels. You know, one of the things we look at, Tony, that I look at when I look at crypto,

one of the reasons why I am focused on tangible things like gold and silver is because of this item here the ripple chairman chris larson has just been hacked yesterday for reported 213 million xrps which was 112 and a half million dollars so you got the ceo of this company that is offering ripple they're offering ripple is one of the cryptocurrencies that they're trying to push out there as a currency, as a transactional thing, rather than something that's more of a store of wealth. They're trying to push it out for a transactional basis. And so you've got the guy who's the CEO there, and he gets ripped off for $112.5 million, the biggest hack so far this year. But that's the thing that concerns me.

These are people who know what they're doing, and it's still vulnerable. Just like we see the NSA and we see the CIA getting their information hacked. It doesn't seem to be – it seems to me like anything that's in cyberspace is vulnerable. It's vulnerable to what the government wants to do, and it's vulnerable to what private criminals want to do, it seems like. That's my concern. Well, in about 13 days,

I'll be speaking at Anarchapoco in Acapulco, Mexico, with all the libertarians and anarchists and pro-crypto. I mean, a lot of crypto specialists will be there. I'm the only, I'm sponsoring, i'm the only i'm sponsoring i'm the only gold guy there and i get 30 minutes so i'm both you know i i mean my my podcast that i when i talk about financials is the wise wolf golden crypto show because i think the crypto space is very important to where we're headed in the future and yes there's there's the threat of cbdc but i like a lot of the innovations that have

gone on in crypto, but it is a lot more volatile. I mean, let's just be honest. If you love crypto, you have to admit, a gold coin in my hand, as long as I can keep it safe, has no counterparty risk whatsoever. Well, if I have, and I keep my Bitcoin, most of that on an Exodus wallet, you have to write down your 12 phrases. You got to keep that somewhere safe in a fireproof box because you can reanimate the wallet. And I've done that. I've deleted my wallet off the phone and then reanimated it with my 12 phrases just to test it. So all that crypto stays on there.

But again, somebody has to write that code. Somebody owns that. It's not completely safe because it is in cyberspace so i you know there's there's so much volatility in crypto but there is i think a lot of opportunity there and it's really that's where the free market whatever's left of the free market it's in hiding yeah uh not like you know gresham's law when uh bad money enters the system good money goes into hiding i think crypto is is a interesting space it has a lot of potential uh i'm still optimistic about a great deal of it but then you get the ftx's and sam bankman frides in the world and then you just start you know shrugging your shoulders like

has this been hijacked too these are great questions but uh you can look some of the the coins like the privacy coins and i know you you've talked with people from Pirate Chain. Yeah. There's coins like Monero. There's privacy coins. There's some good innovations. And you're mentioning Ripple, which is XRP. I own a little bit of that, and they want to make it a transactional coin.

Like you said, it's kind of piggy banking off the traditional banking system. So I'm not heavy into XRP. But I think that it's interesting and then you you hear these stories like we're the ceo it's that's well stolen from it um those aren't those aren't good headlines especially for people that in black rock and all these other companies know that they're like oh well i think i see that you um are interested in crypto let us hold it for you which is that would go back to the ETF or the Bitcoin ETFs. And that again, is not you truly holding crypto. It's another way for them to

manipulate the markets, in my opinion. Yeah. Yeah. And when I had Aaron Day on the other day, he said the final countdown to CBDC, warning people about what it's like, it begins with a fictional account of life under CBDC and how they can destroy every last ounce of freedom under that system. And then he talks about, as you were mentioning, you know, having your own wallets and, you know, making sure that you're not on an exchange, any of your stuff. And he gives seminars on how to do this type of stuff. And subtitled to his book is, you know, getting out of this with gold, silver and crypto. So he says, I look at all of them because we don't really know how they're going to move and in which direction they're going to move. I just look at it and I was like, you know, I just don't have the time to try to keep this stuff secure.

If the Ripple chairman is going to have this stuff, his own currency is going to be, you know, and, and, and here's the other thing. It's like that. I talked about this other individual, high net worth individual had nearly a million dollars stolen from him and Bitcoin out of his wallet. And he found out about it when some guy noticed a whale transaction, a really big transaction, and he started tracing it down. He was able to determine that it was coming from this guy.

And the same thing with this Ripple chairman. He's not admitting how much money he got ripped off for, but it's other people who saw it. Other people said, hey, that's him, and this is the amount that they got and it's like you know why again monera and pirate chain they don't uh they're not open like that but almost all the rest of these uh cryptocurrencies are uh with the blockchain it's you know people know how to find it they can find it yeah it's an open source ledger that's why it's so laughable when you get people that i i tend to think they do know what they're talking about and they say it's an open source ledger. That's why it's so laughable when you get people that I tend to think they do know what they're talking about.

And they say, it's just all used for money laundering and terrorism. And I'm thinking, not really. You know, this is not something the cartels aren't using, you know, a Bitcoin Exodus wallet to do transactions. They have pallets of cash. Again, but I'm not anti-cash either. That's another trap you can fall into. Well, we got to get it all on a ledger. That's what CBDC is. CBDC is getting everything on a ledger. As you mentioned earlier, one of the powers that they want absolutely is to do away with all cash and where there's no variables in the system and they can

expand and contract the money supply at will. That's what they want to be able to do now that's that'll be uh only a part of the problem the real problem is the control it's the social control right it's going to be disguised as money but it's all about control it's a control grid that's why you know that phrase the hill to die on it must be opposed yes everything with every fiber of our being it must be opposed politically we have to we have to raise awareness. And it could be that they implemented and it falls short, kind of like a Nigeria situation. I would love that. They don't they don't seem to know what they're doing much anymore. I know this like they the Fed came out now it's hawkish again. And then they released another report that possible, you know, rate cuts down to four percent in 24 nobody really knows uh they've given several different uh signals even a couple of months ago they were they had you know we're gonna look like we've stabilized everything we've reached a terminal rate i know they use that phraseology and uh then they said that they had another spokesperson come out and say well no

we're gonna we're gonna stay where we where we are. We're not lowering rates. It's all over the place. It's coming, though. Within this quarter, they will do something to lower rates, in my opinion. Well, they thrive on the uncertainty and the volatility because that creates fear, and fear is the way that they can control people and control markets, is with fear.

Fear of missing out, fear of this, fear of that. And so it is all rumors and innuendo and very rapid movements up or down in order to create this kind of volatility and fear. It's engineered for that. Yeah. And, you know, when I talk about the crypto stuff, you know, if somebody feels comfortable, it's just, I look at it and part of it, I think, Tony, is the very name, you know, cryptocurrency. Oh, well, this is crypto. If it's encrypted, that means it must be private.

You know, a lot of people think that about the blockchain stuff, that crypto means private, and it doesn't. There's only a couple of currencies that really keep that privacy there of who owns it. All the rest of the stuff is completely naked and exposed to governments and to the public. Well, it's open source. I mean, you can download a Bitcoin wallet as long as it's not tied to an exchange. It's decently anonymous, but not 100%. I mean, you can always find out who that is, especially when you start transacting with other wallets, and if they're commercial especially, because those commercial wallets are usually hooked up to an exchange so it's not something you can be totally anonymous with

but it is still the people's currency still the people's money in my opinion bitcoin because if you you know internationally if i want to send a transaction i certainly can't um you know and i don't and all your eggs in one basket in the coming years is a bad idea in any respect I like things outside of the system because the system itself is going to draw you in uh with this to create the crisis you know then the solution will be you downloading your your wallet biometrically and getting hooked up to Central Bank digital currency to save the currency and then we're all in this together I've heard these phrases before um you know but that's the way they're going to roll it out and you just got to be outside of the system so if you can do that by getting physical gold and silver that's a great

start if you if you've had the the brain power and the time to look at crypto absolutely look into it i i'm no expert by the way i do this all day long and i still and there's things i don't know about crypto i i need to have more guests on my show tell me what's happening neither is the ceo ripple an expert on i don't feel so bad so bad about not knowing i luckily i've been i haven't had any major or any theft at all of my of my crypto over the years it's mainly because i use it as service you know when i would i just fill up the machines we'd sell it out the day the next day and i'd keep wiring and so there wasn't a lot of inventory just hold held over in my wallets so that might be one of the reasons but you know you can keep it decently safe but yeah you're always a target

too those whales are always a target and they they should know better. Yeah, that's true. Well, we talked about diversification, gold, silver, crypto. Let's talk a little bit about silver since we haven't talked about that. There's a Kitco article saying silver market to see record physical demand in 2024 as industrial demand remains strong. And, of course, you know that's going to happen, right? Yeah, you just pulled it up. We know. We've talked about that before you've talked about how undervalued silver is compared to

historically compared to gold and things like that but you know even though we've got all of this green agenda and people are pushing back hard against it biden is still going to be subsidizing that and and it's such a big part of the green agenda it's almost like it's um you could almost look at it as kind of a hedge against the green agenda couldn't you the silver and that's part of it uh yesterday i did an interview with uh peter kraut who wrote the book the great silver bull and he's out of canada it's a great book uh if you want to get some history of why silver is priced the way that it is it's it's a really fascinating um history some history of why silver is priced the way that it is. It's a really fascinating history. Why is silver so cheap?

Well, he started explaining to me, and if you look at the silver mining that goes on today, only about 25% of the silver that hits the market comes from silver mines. You can hardly find any good silver mining stocks. There's just not a whole lot of entities doing that because the price point isn't there. It's not worth getting the contracts and digging through the ground and getting the ore out. And so you have a lot of problems with finding new supply. And he was telling me, basically all the recycling and all the mining and most of the silver comes from gold mining, copper mining.

It's just an added benefit. They get some silver out of that, too. So about a billion ounces a year are produced. And he said, well, what's been happening year over year, it's the demand is going to 1.2, 1.3. So you're talking about hundreds of millions of ounces that are missing. And a lot of that ends up in landfills that'll never be recovered. Gold has been recovered over the years. A lot of people come to places like Wise Wolf and sell their bracelets or the stuff they've mined out of computers and any kind of scrap. And that gets melted melted it gets recycled back into the to the gold ecosystem

silver is so cheap it hasn't been and so this is catching up with it we're talking about hundreds of millions of ounces and deficits so this is coming to a head i don't these days of of silver in the 20 range i think that's ridiculous i've been saying it for years because i can tell just the variety of being having to source product for people that we're nowhere near where we were in in 2018 2019. i mean i could get anything then i'm very limp i'm still limited even with stuff hitting the market and when prices drop to a certain point there's nothing to be had so um i think that we're going to see and and peter uh peter be had. So I think that we're going to see, and Peter Kraut agreed with me, I think we're going to see this resetting of prices and commodities very soon. And this is an investment I always have to clarify.

I'm not talking about investment in silvers going to the moon. But there is something seriously wrong with the pricing model. I mean, $52.50 an ounce in 1980. That's what I keep saying. I'm like, this cannot, we're in, look at the debasement and the destruction of the dollar since that time. It's 44 years ago. I know because I was just born. So there's a problem with the dollar and the silver gold ratio. There's a problem with all of that. I think the deficits are going to kick in sooner or later and the silver gold ratio there's a problem with all of that i think the deficits are going to kick in sooner or later and the physical demand but you look at even the the

warfare state david it's 40 40 pounds of silver in a tomahawk missile you know and you're not going to recover that either no we keep blowing it up we blow it up or we send it into landfills because it's so cheap yeah i just think there's a day of reckoning coming i think silver not only is a monetary metal like gold and has been money longer than gold and traded longer than gold uh but it is also an industrial metal it's used in medicine uh it's one of the when you have uh anti-microbial antibacterial uh developments in medicine it's usually coming from silver yeah it's very important to watch so silver is it has so many properties and it's so cheap right now i just there's there's so much emphasis put on that it never moves people say oh just i buy silver it never goes anywhere yeah i know but

one of these days again one of these days i think that clock runs out and looks like it's going to come from the actual bullion supply um it's just not there and that has to be a reckoning for well as you pointed out you know getting about a billion uh ounces a year but they're looking at a four percent increase this is coming from the silver institute so of course you know they're going to be focused on silver and pushing silver but they said 690 million ounces uh of demand for things like solar energy and electric vehicles uh so just in that area alone looking at it to go up to almost 700 million ounces as an, you know, as a total amount that they're looking at. And then we have,

on the other side of it, we have the concerted efforts of Russia and others to de-dollarize, you know, to take the dollar away as being the reserve currency, because that is so fundamental to our, our power base there. And so that is so fundamental to our our power base there and so that is essentially they they realize how weaponized it's become and they want to take that a weapon away and so uh russia is saying that's not one of their top priorities is de-dollarization and promoting

internal trade between uh the bricks company countries and other countries like that and not using the dollar as an intermediate exchange and that's going to be something that will when that happens that is going to have tremendous consequences for those of us who live in america is it absolutely and we've never seen this before yeah we've never lost never gained and lost the world's reserve currency status in our history. This is something that began in 1944 at Bretton Woods and was remained for the most part stable. But you can see the percentages, David, the decline in usage of the dollar since 2001, 75 percent down to 45 percent of global transactions used in dollars. And this is only increasing. It's because of the sanctions.

We have 40 different sanctions in 36 different countries. Now, I've been quoting that for probably six, seven months now. It's probably more sanctions. That's our favorite thing. We like to weaponize the dollar and use sanctions. But I think, again, you're watching more and more of these countries move away. They're getting out of their dollar holdings. They're getting into gold.

The world gold council is just pointed out, you know, again, year over year, central banks, breaking records, buying gold. There's only one central bank,

major central bank, not buying gold. That's the United States. That's a federal reserve, not buying gold. Yeah, that's right. Well,

you know, I thought it was interesting when I saw this article, they referred to the Russian reporting referred to the Russian Serpa for bricks. They don't call him a czar for some reason. We like to call our drug czar William Bennett and everybody else, you know, whenever they put somebody in charge of something in the U.S., we like to call them a czar. They don't like czars in Russiaussia so they call them a sherpa his name is sergey ribikov and he says the top priority for bricks in 2024 is de-dollarization for them and for everybody else that they can get in there uh wes robertson on rockfin says if the federal reserve is not abolished it won't matter what we

end up using as currency the The country will never be free. Well, I agree. But of course, CBDC is a way to accelerate this trend and to take it to a new level that we have never, ever seen before. And that's across the board when we look at what is happening with so much of the technology, you know, robotics and artificial intelligence and nanotech and all the rest of this stuff and genetics all of these things are rapidly changing and if they're we're at the point

right now where they want to redesign the financial system as you pointed out and we talked about earlier it's gone on for a very long time and it's one of these institutions that people are going to change as long as the federal reserve is there it still is going to be a threat no matter how they redesign the system but this cbdc is the worst thing uh the worst possible scenario that we could have for a currency so that's that's my interest in it anything that i can use to as a hedge to not have to be 100 into that system that's what i want to focus on tell us a little bit about what's going on at wise wolf uh wise wolf dot gold of course you can get to that by david knight dot gold what's happening at wise wolf tony well we just got lots of packages going out wolf packs growing uh we'd love more people the more people to join the better prices i can get for everyone i i just

got a big shipment of gold backs in and we even have gold back wallets i'd like to thank for for love of the road uh the david knight listener has uh shares a lot of your content uh asked us about it and so we ordered um the gold back wallets so you can you can get a special wallet for your gold back and i decided last month i said i'm going to put gold backs in every order now how's that how's the gold back wallet differ from a regular wallet it's just a little bit it's just longer you don't want to fold your goldbacks okay all right you want to keep those without folding and crinkling in the middle so it's just a longer it's a leather wallet and we ordered it from the from the goldback company there was a tip one of the again one of the listeners for love of the road said

you need to check this out so we did and we ordered some I just decided we're putting gold backs in every tier and I bought the the $1 Denominations and from different states and we have New Hampshire, Wyoming, Utah Some others Nevada I believe and we just get it We're gonna get shipments of that every month and we're putting them in all of the all of the wolf packs it gives you a little bit of diversity uh you know it's not the best way to get gold but in that fractionalized sense it can be very smart because you're talking about 24 karat gold in a note yeah it's you know spread very thin it's like one one thousandth of a of an ounce or something like that so it's it's something and you go check out david knight dot

gold and there's a tab on there it's a join wolfpack we've we've been adding a lot of new products um i've i've got so much pre 1965 silver it's crazy i've been buying it both at the denison location in texas and here in branson and we just keep stacking 90 we're not going to run out of 90 anytime soon i've got dimes quarters half dollars and we've even got a lot of the uh the the silver dollars the real ones not the not the eisenhower dollars from the 70s i'm talking about real peace dollars and morgan silver dollars are going to be going into wolfpack as well so a lot of great stuff there that's i we're yeah again pride we pride ourselves we we did something different than a lot of the other gold and silver dealers, the big ones,

especially. They're going after the whales and going after people that, you know, $10,000 or more. I wanted that every day. Now we can handle those transactions and we welcome it, but I'm handling just average people that are just, you want to save up something to be outside of the system. And especially in the face of central bank digital currency and Wolfpack is a great way to do that. It's not a contract and you're going to get metals every single month.

I'm trying to make the orders a lot more efficient. Like you bill and your billing date, like two or three days later, I want your package with a tracking number. So we're working on that. It's been a great- Well, I love the Goldback things. And when Aaron Day was on the other day, he was talking about using cash, talking about using Goldbacks as well.

He says a lot of times I'll leave it as a tip along with a note explaining it and what it is to try to get people accustomed to using that. And that's the key thing. You know, we have to try to put these things in circulation. And we just like we've got to try to make sure we keep using cash, consciously use cash, even though it may not be quite as convenient as just swiping plastic or something like that. It is important to use those freedoms or we're going to lose them. And already you're seeing this happening. It's happened in many countries where they shut down the ATMs and things like that. So, you know, having a gold back and something like that, that you can use, if we can make that more popular, that is a great alternative.

And I really like those things. That's great. I'm a big fan of them yeah thank you so much for joining us tony and again david knight dot gold will take you to wise wolf where tony is i've known him for a very long time and he's he can help you with anything large or small so thank you again tony appreciate it thank you Again, Tony, appreciate it. Thank you, Nick. The David Knight Show is a critical thinking super spreader. If you've been exposed to logic by listening to the David Knight show. Please do your part and try not to spread it. Financial support or simply telling others about the show causes this dangerous information to and father. People have to trust me. I mean, trust the science. Wear your mask.

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