The David Knight Show - INTERVIEW Gold Keeps Breaking Records — Economists Say It's Only Just Begun

Episode Date: April 11, 2024

Tony Arterburn, DavidKnight.gold Paper Dollars aren't the only fiat — ETF gold, ETF silver, ETF bitcoinEconomists, not gold dealers, say it's only just begunMoney 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.

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Visit Canada.ca slash EveryDollarCounts for more information. A message from the Government of Canada. Joining us now is Tony Ar artaban of wise wolf gold and tony has set up david knight dot gold which will take you there and let him know that you're coming through us always good to have tony and he has been incredibly busy uh the last couple of weeks because of what is happening in the gold market i've talked a little bit about about this, how it has really shot up. It's like up 19%, if I remember, over the last month or something like that. But a tremendous jump in the price of gold. Thanks for joining us, Tony. Well, thanks for having me, David. It's good to see you.

Good to see you. The price of gold, it keeps hitting its all-time high. It's hitting it so often, I'm not even keeping up with it anymore. I think it's hit its all-time high like four times in the last 30 days. That's right. You look at it, it's like, is this a new article or what is this? So much so that the Mises Institute is asking, so is gold overpriced or can its price go even higher? And I thought that was interesting because the Mises Institute is a financial um think tank economic think tank uh looking at the writings uh and of course you know just a general free market libertarian perspective uh of lugo gavon mises and um they're not selling gold uh but they're looking at this

stuff and they they thought well you know it um expensive compared to what was their question? Well, that's right. I mean, what you're actually watching is not gold reaching its all-time high. It's the dollar reaching its all-time low. It's an inversion. Yeah. Because as you know, if you go back to our original system here in the United States, the bimetallic system, there was no inflation in the 19th century. So a pair of shoes in 1800 would cost you the same in 1900.

There was no inflation because we had a gold standard and we had a silver dollar. And of course, that changed it pretty much in 1933 when Franklin Roosevelt did his executive order for you to turn the gold in. He raised the price of gold at $35 an ounce once all the Americans that complied. There's a lot of Americans that didn't comply, because I buy those coins all the time those pre-1933 American coins but they raised the price of gold to to 35 an ounce that was a banker's ploy to shift the gold away from the United States to the Bank of International settlements you can go back and read the history but again after 1944 bretton woods 35 an ounce and it stayed that way until 1971 and then richard nixon because of all the the debasement of our

currency that the country's other countries noticed we took the silver out of our coinage that we were writing checks beyond our capacity for guns and butter in Vietnam and the great society on the Mekong like LBJ said and so Richard Nixon knew that we couldn't continue to keep the gold window open and they went off the gold standard in August 15 1971 gold went up 2,000 percent but that doesn't mean that gold went up it just means that we have a revaluation of fiat currency and now every country on earth has a fiat currency they all followed the united states after 1971 the united states now has the oldest surviving fiat currency in the world the average life spans about

26 years so we doubled that and so i think you're just going to continue to see these price ships because of the brics nations primarily and i don't i honestly david i just going to continue to see these price shifts because of the BRICS nations primarily. And I don't I honestly, David, I don't think we would see these prices in gold this fast the way it's doing without the war in Ukraine with sanctions that were placed on Russia after NATO provoked, in my opinion, NATO wanted that incursion. But they put the sanction. We put the sanctions on russia uh and uh the russian finance minister months later said well dollars are candy wrappers to us and got off of the system other countries took notice we have 40 different sanctions on 36 different countries weaponize the dollar so i think what you're watching really is not so much

that uh gold is having its moment it's that the dollar is losing ground losing ground rapidly the world is taking notice they want a revaluation of commodities that's what brazil russia india china south africa now saudi arabia are all about that's the re re-evaluation in my opinion of all commodities and i And I was looking just before we went live, other countries like India, record numbers of silver being, or record numbers of gold in China. China had a major ETF, had to stop trading because people were buying so much paper stock gold.

There wasn't enough gold to back it up. At least that's what I'm looking at. And this is going to be a problem, I think, in the West, too. We're just at the beginning of this. If you think you missed the boat on gold and precious metals, especially with silver still being under $30 an ounce, you are mistaken because there's a lot of room left here, but it's not looking good for King Dollar.

And, of course, I talked about this earlier in the week, and they were saying they talked about this earlier in the week, and they were saying they talked about the inverse relationship between the Federal Reserve fiat currency and gold and how they go up and down in an inverse relationship with each other. And they said, so always these Western institutions, under certain circumstances, they would start selling their gold and the East would buy it up and that type of thing. But that all got broken, they said, with these sanctions and other things that are happening.

It also got broken with this ETF stuff that is out there because they have used that to essentially create a fiat gold system that has gotten so out of whack that they can't even make a credible case for it. As you pointed out, they had to suspend trading on it. But as Forbes looked at it, it was tremendously, I forget what the ratio was. I'll look it up here as we're talking. But the ratio that was there was absurd. And they said, well, that's even a conservative one. A lot of people estimate that the ratio of ETFs that are out there trading about gold are much, much higher than the actual physical gold that's there. But we're saying a

lot of the same things that you've said in the past, where what was interesting earlier in this year was the fact that the Federal Reserve was making these different moves, like hiking the interest rate up and things like that, that normally would cause gold to go down, and it was holding its own. And they said, that's because everybody has lost so much faith in the dollar that they are still accumulating the gold. And as the institutions want to sell off their gold, there's still more demand keeping the price high. And so I think that's really what the Mises Institute was talking about.

They said, you know, are we late on all of this in terms of getting into gold? Well, not unless you think that they've somehow figured out what they're going to do with the fiat currency. And if they can somehow fix this stagflation or this dragflation, as Salenti calls it, you know, like a recession, not just stagnant, but a real recession along with inflation. If you think they've got that solved, then, yeah, you'd be late. But they've got so many built-in problems and things have shifted underneath them that a lot of people are saying this is just the beginning. And so that's where you've been, I guess, just kind of running around trying to keep track of demand and orders. Oh, absolutely. And the rules of the game are changing.

I mean, Jerome Powell first said that inflation was transitory, along with Janet Yellen. This was all transitory and nothing to worry about, nothing to see here. And then they became very hawkish, and they're going to whip inflation. No problem. We got this. And they raised rates faster than any time in history to curtail that inflation. Then they felt like

they're really confident this last six months or so. We're going to talk about lowering rates because the economy could sure use a goose before the election. Not that they're political or anything, David. The Federal Reserve is way above that. They're not playing politics. They're not going to intervene. But they got a problem because the latest data that's out inflation continues the economy's roaring along inflation continues and what are they going to do they they've promised these rate lowerings uh the european central bank has just backed off of a rate lowering so they're going to hold rates so we're not going to see i don't think we're going to see any rate lowering for a minute or two. It may be going to right before the election. They're going to do it this year.

I think they've promised too much. There's too much built into the system. It's all rigged. As you know, this isn't your father's stock market. Wall Street's not based on profit anymore. It's based on environmental social governance and your relationship to the central bank. It's not really entrepreneurship anymore. So I think you're going to see some intervention. There'll be some rate lowerings, but it's hard to do that in the face of the data that's coming out. And a lot of this has to do with the energy sector. As a matter of fact, the White House is not going to be buying back food off the open market

to replace the strategic uh petroleum reserve yeah that's insane i know i mean we're not replacing our strategic petroleum reserve in the face of all this geopolitical upheaval um honestly i i think this is uh them not wanting to drive the market up or do something to increase the price because uh that's where you're seeing inflation. It's in the items that people need. He sold off the Strategic Petroleum Reserve to lower the price before the election. Not even Obama did that. Always in the past, they would hold that until there was a storm that came through and took refineries offline in Louisiana

or something like that, some kind of real disaster, that's what they would use it for. Biden used it to make himself look good, to temporarily lower the price of gas. And, of course, if he goes out there and replaces it at this point in time, that is going to mitigate against reducing the price of gas because he's going to be out there buying stuff that will bid the price of gas because he's going to be you know out there buying stuff so it'll bid the price up so the only thing he can do now is just to set it out and not refill that it's it's really it shows how he has absolutely no interest in what is good for this country it's all about his own personal political gain. And in that regard, he's just like Trump.

It's almost like it's a plan, David, like a controlled demolition. Like the calls are coming from inside the house. I mean, all these decisions that are made are not strengthening our economy. They're not strengthening our readiness as far as national security. Obviously, this is all part of a plan. It's an inside job. And you see this, this is the consequences. You want to intervene unnaturally in the market. You want to release crude from the strategic petroleum reserve to lower the price temporarily. Well, guess what? If the price goes back up and you have to replace that, when you buy it again,

it drives the price up. So your intervention backfired on you again it's the same thing with these you know can you imagine uh going back in a hundred years and saying well I don't know what's going to happen to the economy the Federal Reserve hasn't told me what to do yet I mean nobody nobody was looking to the Fed uh to figure out what what's the next move what should I do what should I invest in this has become so ubiquitous it's just it's It's permeated all of our culture, what the Federal Reserve is doing. And frankly, what they're doing is they're ruining our currency faster than really I think is natural. I mean, I think we had a little bit more time left on the dollar, honestly, but just the amount of hubris and the sanctions that are placed,

I think everything's accelerating. And the teleprompter reader hairdo people on these financial networks, they just don't get it, David. They keep saying, well, gold is up. And that's crazy. Gold is way up. And they keep looking at the price. And I wonder why that is. Well, you know, there's inflation data is not that bad. I mean, they keep going.

But again, it's the central banks around the world buying gold. And as you mentioned earlier, these ETFs and this paper gold that's out there all around the world, you can't really back that up. I don't have any faith in that. It's kind of like the silver market. I know because of the data, and I've interviewed the experts. If you had a whale come in, like an Elon Musk or some big buyer, you could corner the silver market right now, just like the Hunts did in the 1970s. But see, the deep state got rid of the Hunts.

They made sure that nobody exposed that. Because what you're exposing, if you can corner a monetary metal and get the physical supply, is you show that the currency that it's shown in value of is actually fake. Chaque dollar compte pour payer les factures ou élever une famille. Un peu plus d'argent peut vraiment faire une différence. Vous pourriez avoir droit à des prestations et à des crédits, comme l'Allocation canadienne pour les travailleurs, l'Allocation canadienne pour enfants,

le crédit d'impôt pour personnes handicapées et le crédit pour la TPS-TVH. Vous pourriez aussi faire faire vos impôts gratuitement. Voyez si vous êtes admissible. Pour en savoir plus, allez à Canada.ca par oblique chaque dollar compte. Un message du gouvernement du Canada. $52.50 an ounce for silver. That's crazy if you think about what $52.50 would do now for your purchasing power. In 1980 terms, that's like $300 today. So I don't have any faith in these markets.

I think that supply is a lot thinner than people realize, and that's what's really driving the price. When people are demanding physical gold, especially places like India and China, it really driving the price when people are demanding physical gold especially places like India and China it's driving the price David and uh it will come here Costco is is selling gold bars and we talked about this before we've seen this phenomenon where they they'll they'll list the price and I think they're like 50 bucks over spot or something like that and then they'll sell out and then you can't get them we have supply but i would say that it is thinner than you think that it is and it's i'm not going to over promise and say i can get any variety of anything because i really would watch that as people start to wake up and demand precious metals this price that we're looking at now is going to be it's going to be quaint that's right and you know you've got we're about the paper gold thing. A lot of people who look at this and say, well, I don't

like the dollar. We need to go with gold. They'll go with the paper gold. And they don't realize that's one of the, this, this RT article that I was talking about the other day gave the figures that Forbes came up with. And Forbes said, well, according to our calculations, there's about $200 to $300 trillion worth of paper gold out there, but there's only $11 trillion worth of gold. So in other words, they're selling 20 to 30 times the amount of paper ETFs. We're going to give you a share of the gold. They're selling 20 to 30 times what they actually have. And they said, we think that that's very conservative, that it's actually much worse than that. And as you pointed out earlier, China had to suspend trading because there was so much

demand that it was getting out to a level that nobody would believe. I mean, if people believe that there's 20 to 30 times the um uh paper gold out there that there is physical gold known physical gold reserves uh you know they're not going to believe it if at some point uh if it gets up to 50 or 60 or 100 times or something at that point it becomes unbelievable and the bubble bursts but at that reckon that realization is going to come around at some point and there will be a reckoning. And so all the people who are interested in collecting gold are saying, well, I want the real thing instead of paper. That's when another type of gold rush will happen because that's another

competition to physical gold, that paper gold. I like what Larry Fink, the head of BlackRock said a couple of weeks ago about people in countries like India and China and emerging markets. He said, you're not helping when you're buying gold. You're not helping anything. You're not helping the market. It doesn't do anything. And I thought, oh, there's the rub. There's the tell. He's been pushing the Bitcoin ETF and people are just scratching their heads like, what is he doing? In my opinion, I think the Bitcoin ETF for entities like BlackRock is a lifeline to a dying system. It at least gives

them some finite. They can put their clients into that. But if they start putting their clients into physical gold, it does bankrupt the entire system a lot faster because people start to realize as physical gold demand goes up, the price goes up. It doesn't really go up when you put them into paper. It doesn't. I've not seen that. I only see the price rise really when I see central bank demand and I see these reports coming out of people, the average person. Like China, they're buying gold beans, just like a bean, size of a coffee bean and gold just as much as they can it's not even coined it's not even it's not even put into bars people are hoarding it and i think i've talked about this before but china has like 60 000 gold mines

and they don't they're not a net exporter so and and china russia uh they're talking right now about a new financial system the bricks want to back a new system uh with gold a digital system zimbabwe uh david remember zimbabwe that had the the trillion dollar notes yeah uh they've they've got a new uh gold-backed currency that's that's emerging so this this the the monetary system around the world is going through a transformation and as you notice the central bank's buying gold and what you have to watch So the monetary system around the world is going through a transformation. And as you notice, the central bank's buying gold. And what you have to watch is while they're buying gold, they're also putting together the plans for the rollouts of their own central bank digital currencies.

That's the danger. They're going to build this control. They are building this control grid for all of us. It's going to lead back to the Bank of International Settlements and the IMF and other things. They're going to consolidate these clearinghouses. We have to watch that here. We have to continue pushing decentralization, supporting states that want to have their own bullion banks, supporting free markets. There's a lot of argument about what's happening with the Bitcoin ETFs.

I think you and I will continue to talk about that every week because it's really interesting. And Bitcoin's over 70,000 today. But Bitcoin really drives the argument. It's like, why are people buying it when they find out, oh, you can't make any more of them? And that becomes a conversation starter, especially when we're given, you know, how many dollars are there? More. There's just more. Oh, it's just a little bit more, as they say. Just a little bit more. conversation starter especially when we're given you know what how many dollars are there uh more there's just more always just a little bit more as i say just a little bit more well and that's the thing you know about bitcoin if you want to buy bitcoin get bitcoin but why would you get an

etf you know whenever i look at these etf things based on the experiences that we've had with derivatives with these uh the real estate derivatives that they did you know i mean there's nothing they're not making any more land, you know, as I always pointed out. And these were real physical assets and all the rest of the stuff, but they crashed it with an ETF, you know, essentially with derivatives that they were putting through. To me, I look at this and you understand there's a couple of different things going on. I think when they create these, these derivatives, these ETFs, of course, they're going to make a lot of money off of it. They've got a way that they can make money off of that. But I think they typically do that and they usually wind up crashing the market no matter how solid or real it is, just like they did with real estate.

So you believe in Bitcoin, you want to get into Bitcoin, still be careful of these ETF things. I wouldn't want to own them, but it would make me scared and does make me afraid, you know, even for the Bitcoin thing, because how are they going to manipulate that? Are they going to get people into the Bitcoin thing and then crash it and then try to push them into CBDC? We know they want to crash the financial system so they can establish this new system. And so that's another thing that makes me suspicious about why they would do these ETFs. So I'm very suspicious of both the, you know, the ETFs for paper and silver So I'm very suspicious of both, you know, the ETFs for paper and silver and also for Bitcoin.

I think, you know, you want to get something, get the real thing. Don't get this. Don't buy the phony stuff from Jamie Demon or JP Morgan or any of these people. Each dollar counts to pay bills or raise a family. A little more money can really make a difference. You could have the right to benefits and credits, comptes pour payer les factures ou élever une famille. Un peu plus d'argent peut vraiment faire une différence. Vous pourriez avoir droit à des prestations et à des crédits

comme l'Allocation canadienne pour les travailleurs, l'Allocation canadienne pour enfants, le crédit d'impôt pour personnes handicapées et le crédit pour la TPS-TVH. Vous pourriez aussi faire faire vos impôts gratuitement. Voyez si vous êtes admissible. Pour en savoir plus, allez à Canada.ca

par oblique chaque dollar compte. Un message du gouvernement du Canada. I'm not saying it's going to zero. I'm not Peter Schiff. I don't think it's a bad thing to own it. You shouldn't own the ETF because Bitcoin is just easy to get by itself. And you should have your own wallet, your own keys, and understand what that means. I mean, really, knowledge in the coming years, the most important thing. Somebody asked me the other day, what's the most important thing? What kind of equity?

I said, knowledge, knowing how to use something. And, you know, go back to a counterparty risk. You know, if I have a gold coin in my hand right now, that's mine. I don't have to worry about a bank. I don't have to worry about an institution or a CEO or embezzlement or anything like that or fraud. I've got it in my hand. And if I bought it from a reputable dealer then i've got value and that's gold has been money and silver's been money uh for thousands

of years and it will continue to have value as long as i think is their civilization uh you know i've i've bought some coins from the roman era and uh and kept them here at the shop they're valuable because there's gold in them some of the ones that are debased the old roman coins have a little bit of value but not not much it's it's the metal that made them valuable throughout the years you can still still use them as money so i i like in in the coming years i think it's going to be more important for cut out the middleman you don't need etfs you don't need an institution learn how to own things yourself and that's one of the reasons I'm in the physical precious metals business. And we have things like the membership program, like Wolfpack, where even if you don't have a lot of money and you've got, you just got a little bit, you want to put some savings in, let, let us do it. Let my team go find value for you with even if it's as little as $50. Yeah. That's why, you know, earlier this week, I talked about,

you know, the, the, what's happened in recent history with the Bretton woods two and on and what is happening with that. But when you look at these today, the, the articles that I kind of focused on were things from Mises Institute and

other people were talking about the economics of inflation, because that's not going to go away. You know, we talk about how you got paper, gold, paper, silver, paper, Bitcoin and all the rest of the stuff. Well, there's still the paper dollar, which is the worst of these derivatives, the most easily manipulated because they're printing more of it all the time. As you point out, you know, people look at Bitcoin and say, well, they're not making any more of this or it's getting more scarce. So that's where we want to be because it's the printing, what they

called quantitative easing. It's the manipulation of the interest rates. They have so many different ways that they can manipulate the value of the paper dollar that it's just not a store of value at all. And then, of course, besides their direct manipulation, we've seen it many times in our lifetime, get out of hand, and we're at one of those moments right now where these guys who are pulling the levers, the guy behind the man behind the curtain, like the Wizard of Oz, once he gets into that balloon, it's like, come back. I don't know. I don't know how it works.

You know, once he inflates that balloon, he's just heading off. And we've seen that happen with the Federal Reserve Wizards many times, haven't we? They don't know how it works. They can't come back to where they were. Well, no, and that's all fiat currencies go to zero. So they're just playing a game in the interim, you know, and I think that the dollar is going to digital. That's their plan

i think all these plans have been accelerated i don't think that we're supposed to be seeing right now the the swift decline that there is but you know even go back to the that the allegory of the wizard of oz this is l frank bomb wrote that in the late 19th century that was uh the cowardly lying was uh william jennings b, you know, the cross of gold speech. And what was William Jennings Bryan talking about? He's talking about free silver because we had such a strong currency, the farmers wanted some relief

and they hit the Comstock load we had in the 1870s out in Nevada. And they wanted to release that silver into the market to help ease the debts, to increase the money supply. Now it wasn't fake. They didn't want to dump fake money into it they wanted to dump silver in there to give the and that was a populist move to give the farmer some relief i think there's going to be an argument for that um but the you know the banksters

ran with that and and of course you end up getting the federal reserve because they kept pushing that as is a way to help uh you know stave off crashes and things like that but that's where all of that the the yellow brick road uh the Emerald Palace is the green back, all of that stuff on the Wizard of Oz. And it is, it's wizardry. It's economic alchemy. And it's really insane to watch, David. I got in this business years ago and every year, now every month, and we're seeing some change in the monetary system

in the market. And we were talking about it a couple of weeks ago and I still can't get over it. It took us from the founding of our country to the time I was born to go a trillion dollars into debt. And now we do it every 90 days. I mean, just let that sink in. Once you let that sink in, you realize we've passed some sort of boundary where we're never going to be, I mean, we're not even talking about fiscal responsibility or anymore. Nobody's running on that politically. So I think we've, we've crossed some sort of boundary. So it's time to start thinking about how do you, how do you thrive and survive? How do you weather the storm of what's coming it doesn't matter you and i can't stop it you know whatever it's whatever's down the road all we can do is prepare and try to use history as our guide you know what was the what what happens in times

of hyperinflation what happens in times of economic uncertainty or currency shifts you know you don't want to get left holding the bag. I saw that in Iraq. That was a microcosm of things. But I watched a currency go to zero in real time. Nobody wanted to pay people running out of the banks with boxes of Iraqi dinar that no one wanted. Yeah, yeah. Think about that. Money that no one wants.

Wow. Well, yeah, we're definitely not in Kansas anymore. We're in Davos or something or Baghdad or something like that. I mean, we're in some alien territory. That's why, you know, grab something that's real, that's held its value for a very long time. And, of course, as we talk about it, you can handle transactions there at Wise Wolf. And you've got the Buyer's Club there, Wolfpack. Anything new with Wolfpack that you want to talk about? Well, we've got a new special 1776.

If you type in promo code 1776, you go to davidknight.gold. I've got some free silver. So talk about William Jennings Bryant. I've got free silver. Go to Wolfpack. We'll give you free silver. We'll put some silver in the package for you. If you upgrade or if you join, we'd love to have you.

The more people that join, I think we're right at almost 1,000. And I want to celebrate when we hit 1,000. It's been a lot of work. I've got a great team here. We're always packing new packages and tracking things. I know why the big guys didn't do this now. I'm happy to have done it. It's really what sets us apart because we care

about, we flipped everything on its head. We're not just chasing people that have a large savings account or a retirement account. We're talking to everybody and everybody deserves to be able to have real precious metals. They can trade their fake currency in for real money. And we do that here at Wolfpack. So yeah, promo code 1776. I'd also like to say too, David, with the markets the way they are, we're pretty much seamless now on being able to any kind of IRA 401k. If you've got it in the paper markets and you're interested, you should reach out, go to davidknight.go. Let us know if we can walk you through what that process would look like turning into physical precious metals we can do that without penalties and all that we just use our partner company new direction trust and even if you can't do wolfpack or you don't want to do a monthly we have one-time uh orders and and nothing's too small uh that's

what that's what wise wolves here for and we got a great supply line. We've got a good team. And we're so happy and proud to sponsor your program. Well, thank you. And, of course, taxes are coming up April 15th. If you haven't put money into your IRA, you've got just a couple of days to do it. And you might want to do something with some kind of a precious metals IRA through a new dimension that works with you there at wisewolfgold.gold. And people can get there by davidknight.gold. Always great talking to you, Tony. We're in really interesting times and I know it gets really difficult for you as everybody sees the price going up, that gets their attention and um and and everybody starts investing in it fear of missing

out uh but i don't think that uh people have missed out at this point uh neither do the people who are writing about the uh from it from a financial and economic standpoint they think there's a lot left in this because they're going to continue to try to feed the inflation beast for this election at the very least and that's assuming that they know how this balloon they inflate it actually works and they can control it which i don't think they can i'm saying let's get away for far too many times that's one of the best analogies i think out of the wizard of oz thank you so much for joining us again uh david night dot gold to take you to tony at Wolf Gold. Thank you, Tony. Appreciate it. Thank you, David.

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