The David Knight Show - Interview: The Federal Reserve Is Stealing Your Children's Future

Episode Date: October 22, 2026

Tony Arterburn joins David Knight to warn that the Federal Reserve's endless inflation, America's $40 trillion debt, and soaring energy prices from Trump's war with Iran are creating a financial crisis that could devastate the savings and futures of ordinary Americans. As the banking system faces mounting pressure and the threat of bail-ins, Arterburn explains why he believes physical gold and silver offer a way to escape a collapsing fiat currency system—and why the government has every incentive to keep Americans trapped inside it.Money should have intrinsic value AND transactional privacy: Go to https://davidknight.gold/ for great deals on physical gold/silver For 10% off Gerald Celente's prescient Trends Journal, go to https://trendsjournal.com/ and enter the code “KNIGHT” For high quality made in America products go to HomeSteadProducts.shop and use promo code “Knight” for 10% off your purchases Find out more about the show and where you can watch it at TheDavidKnightShow.com If you would like to support the show and our family please consider subscribing monthly here: SubscribeStar https://www.subscribestar.com/the-david-knight-show Or you can send a donation throughMail: David Knight POB 994 Kodak, TN 37764Zelle: @[e-mail] App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7Become a supporter of this podcast: https://www.spreaker.com/podcast/the-david-knight-show--2653468/support.

Thank you for joining us, Tony. Good to see you. Great to see you, David. Thanks for having me. You know, when we look at this, it was a very interesting article on Mises, and they were talking about your children's future. Don't let the Federal Reserve destroy your children's future. And I thought that's a great way to understand what is really happening. They looked at it and they said, you know, the Fed always has this goal of 2%, you know, inflation.

They want to do that because they want to monetize the debt, right? But they said, just think about that. If it's 2%, you know, there's this thing called the rule of 70. If you look at the interest rate that you're getting on your investment and you divide that into 70, let's say you're getting 10%. That'd be seven years your money would double. Okay. Well, nobody's making 10% anymore unless you've invested in something like perhaps gold or silver. You might make something like that.

I don't know. But I don't really look at it as an investment. I look at it as a way of an insurance policy. of getting money out of the system. But the reality is that it's not just 2%. It's actually, they've been reporting that it's 3%. That would mean that the price of everything's going to double in 23 years. Or if you look at the shadow stats, where they calculate inflation the way the government

used to calculate inflation back in the 90s before they started manipulating the statistic every time, they come up 11%, which would be about just over six years. Everything would double. So it's kind of interesting to see that. And as we've talked about, gold is really kind of a hedge against currency devaluation. And that is very much there, isn't it? Well, that's true. And historically, gold, like an ounce of gold, buys about the same amount of oil or land or groceries that it did 100 years ago.

What's changed is how it's denominated in fiat currency, because fiat currency, and that is the currency of the U.S., especially since 1971, it's constantly. constantly going to lose value. And some assets like houses, unfortunately, because there's a finite amount of them, that's where a lot of the inflation shows up. I mean, it could look like you're having a windfall. You know, your house valuation is going through the roof. But really what it is is that your currency is losing value. And when you have this fiat system like we have, it really does show up and rob you of your future,

and especially your children's future because it's only going to get worse, especially when you have a debt of 40 plus trillion, and that's not counting unfunded liabilities or what else they're going to spend in the future. And that's not just the U.S. It's it's governments worldwide. Yes. So you're not going to be able to get out of this by hitching yourself to their system. Their system is what brought us to this. And we're only at the beginning of this revaluation. Unfortunately, David, I don't wish for it because I do know that it's going to hurt a lot of people. Oh, yeah. And I don't know that there's a magic, you know, there's, gold and silver are great and a great hedge.

I mean, if you look at what's happening right now, we've got this war of choice by the Trump administration. And we've caused the price of crude oil to shoot up over $100 a barrel when it doesn't have to be. That's right. You have this, you have, what you have right now is you have inflation because of the price of oil. has gone up over it's $108 and then sometimes I think we hit like 120 on the West Texas crude. That's putting major

pressure on the economy. So the Fed is looking to try to rein in the money supply through raising rates. We're about to crash this whole thing. It's going to crash. And this absurd alibi that Trump has, well, you know, I'm glad I did it because no matter the damage to the economy, I

saved us from a nuclear war, it's like, come on. That is the most asinine comment I have ever seen in my life. We all know that's not true. But that's the way they'll present this. But what was interesting with this article, the way it began, he said, my grandson is 21 pursuing a degree in college and active in sports and social life. His future looks bright. But he and others of his generation will enter the future with a handicap imposed on them by people that they've never met. Policymakers like the Federal Reserve. And I would say also the people who are behind AI.

You know, there's so many different things that are being put together to, completely upend the system that we have right now for the fourth turning. And the thing I think you have to look at is, how do I get out of this? You get out of the Federal Reserve system with gold. You get out of the AI virtual system that they want to impose on people by getting physical gold. I think that is the key thing. Well, definitely out of the system is important because the system itself is going to keep you in poverty. And that's the whole point.

If you look at the wealth concentration of the United States in the last 70 plus years, it's absolutely breathtaking. I mean, you look back, there's a, the term living wage, as you know, in the era of which you grew up in. I mean, we had at least, you know, you couldn't own gold legally in the U.S. A lot of people don't know that from 1933 to 1974. It wasn't legal to own gold. But the United States was on a quasi-gold standards. So that meant the rest of the world could cash in their dollars at the gold window. for $35 an ounce.

And it kept this, the currency pretty much stable. So people could put away their savings and, you know, in 10 years, that dollar would pretty much have the same purchasing power. We've completely departed from that. As you know. And so the, the issue that we have now with the mounting debt and something I mentioned earlier, you have this energy crisis that's created inflation. And their answer to that is to try to make it more expensive to borrow.

Let's see how that works out. It's getting more expensive to borrow. And, of course, it's putting pressure on the bond system and everything else. It could be creating a perfect storm here, David. And a lot of this is not going to show up tomorrow. But that article is important because the future of our kids and future generations are really at risk right now. Certainly, they won't enjoy the same amount of stability that even I did in the, you know, growing up in the late 80s and in the 90s as a kid, as a teenager, that was somewhat stable, but we're

way past any of those metrics right now to be able to rain in inflation, to be able to keep the system going the way that it is without a major reset. And that's the term's great reset. And, you know, unfortunately, the regular folk won't be privy to actually, you know, having any sort of benefit from knowing that. You know, as far as what the elites are building their golden parachutes and whatnot. Yeah, it's kind of interesting. Also in this article, they talk about Milton Friedman versus Gary North. Milton Friedman famously wrote back in 1982, monetary policy theory and practice.

And in it, he criticized a gold standard. First, he said, if domestic money consists of a commodity, a pure gold standard, the principle of monetary policy is very simple. There isn't any monetary policy. The commodity money takes care of itself, which is really kind of in line with what I remember of Milton Friedman. I know him mainly through the series they did, Free to Choose, where he was talking about Hong Kong and the fact that they were lightly governed and a very free country and at the time, you know, city essentially. But the fact that they had more freedom than most other countries and how it worked to their advantage economically. And he says that here about the monetary standard.

But then he comes back and he says something, which I had never seen before. He said, well, you know, gold is very inefficient. He said, you got people who spend a lot of labor and capital digging it up so then they can then store it somewhere else. And he says, so all of that labor and capital is being used, you know, we need to do something more efficient. But as Gary North pointed out, he said, well, there's sometimes you don't want government to be efficient. You know, when Mike Johnson says, hey, we can't bother with search warrants. we've got too many people to arrest. Sometimes when the government is doing something,

you don't want the trains to run more efficiently if they're taking people to a prison camp and executing them, right? So his point was that we do want this inefficiency because what that does is it operates as a check and a balance on these people. And that, of course, is the key thing. He goes on to flesh it out. He says, so when you have a goal standard, you say, how do we keep people accountable

as we look at the elections coming up here. You know, we see the elections really don't keep them accountable. Not to anything, not to any promise of war or peace. Certainly not to any fiscal policy that they claim to agree to. So the elections are completely useless in terms of a check or balance. He said, so how do you get that check and balance? Well, if you have gold out there, and that is a standard, you've got the people who are private investors,

and they're going to be watching everything like a hawk because it's their money. And they will be watching the, the watchers. It says that's probably the best possible scenario that we could have. But it's not what is happening right now. We will have to see the system collapse before anything takes its place. And I think one of the things that we've got to be careful about is tokenization, especially of gold. I would say tokenization rhymes with securitization. Remember the securitization of the mortgage stuff and the fraud that was there? And it rhymes not just verbally. It rhymes because it looks to me like the same thing. That's why I say physical gold and silver like people can get

at Wisewolf. And again, as a regular savings program, you can take advantage of that, dollar cost average, and also get the quantity discount as a group buy. You're the only person I know that does that, Tony. We have a very unique system and it's catered towards just everyday folks and I did that because of having physical gold and silver shops and seeing like especially during COVID, you know, after the massive liquidity injections that you and I were talking about that was having before COVID, by the way, but the real like 80% of all the dollars ever created were created between 2020 and 2023 in the history of the U.S. So people were feeling that inflation. And so regular folks started to notice. And it's something they've been able to

to tamp down for a long time that it won't be able to be swept under the rug anymore. As a matter of fact, you mentioned the constraint of governments under a gold standard, which I'm not even advocating that we go on a gold standard. I don't know if the entire system would crash. The way that people are brought up now on entitlements and even the welfare, warfare state, that combination of everything, it would have to be a massive reform. As a matter of fact, if you convert. the U.S. to a gold standard based off our currency supply right now, the price of gold will be about $81,000 an ounce.

That's what it would be. And, I mean, would it be worth it in theory, yes, because the... Break the power of the Federal Reserve. I mean, it's really all wars are banker's wars. That's right. You know, it's rich man's war, poor man's fight. People have said that in so many different ways. This medley-butler war is a racket.

We know that it's done for profit. And so if you want to stop the warfare state, that's really the way to do it. And you know, if you go back to World War I, the government, like we're all in a gold standard. I mean, especially the West. And the whole world was pretty much linked up to the British and the American gold system. And it was those countries that started to stop the convertibility of their currency into gold. That was the first thing to go. In order to fight those wars, those bankers wars, you have to go off the gold standard.

It wasn't the gold standards that gave us the war. It was the Fiat standard. And they tried to every which way to get around it. They had to make new currency to pay for those wars. So, you know, gold isn't perfect and that system isn't perfect. But you would stop cataclysmic wars like World War I, World War II. You can't fight those wars. Well, I mean, just go back to the founding of the country and look at the American Revolution.

They started printing fiat currency, the Continentals, and then it became worthless. We saw that again with a civil war. and Confederate currency. But even though the Americans won the Revolutionary War, their currency was still worthless. And it's one of the reasons why when they did the Constitution, they said, well, the government is not going to create money. It's going to coin gold and silver.

They learned that lesson. And always, you know, Fiat is really the lifeblood of wars, if you want to understand what's happening with it. And it is a war against us economically, but it's also the thing that is the lubricant and the fuel for their global wars. And that's why they're going to continue to push this stuff. But that's why you need to prepare.

It's one of the things when we look at this, how do we prepare for this war that they're pushing on us at every level in every country? And I think, you know, there's certain things, skills that you need to have, food that you need to have, money that you need to have. And as much of that as you can prepare right now is the time to prepare for that.

Well, I agree. And then the change is going to happen more rapidly. than we think. And a lot of times history is in stasis. I mean, we look at just the price of gold itself. I mean, from 1834 to 1933, an ounce of gold was $20.67. That was set by the United States government. That meant that your $20 was $20 and it was an ounce of gold for 99 years. It took Franklin Roosevelt one day. As a matter of fact, he would sit at breakfast and have tea after he took us off the gold standard and, you know, have people turn in their gold and made it illegal for you to own gold.

And he would make up the number. He would make up the price of gold that day. And finally they hit, he said, we're going to take it another, you know, it's going to take it to 35. And like he would just do it, you know, over, over tea, over breakfast. And it was all arbitrary. So we stopped at 35. And, you know, again, everything is happening rapidly.

And that's mainly because of the sheer numbers of things. You go back 1980, the debt of the U.S. was a trillion. And you could raise interest rates up to like the bulk or shock of that time. And it's really interesting because it's the experiment of trying to do that again, which is what the Fed is talking about in the face of these rising energy prices, which is creating inflation. They want to figure out how to keep the money supply tightened. Well, guess what?

Making stuff more expensive to borrow, making funds more expensive to borrow, doesn't create new oil. That's right. It doesn't help us out. Yeah, we had that stagnflation all through the 70s and everything. Of course, Gerald Sinty's been talking about this coming for quite some time. He calls it dragflation. He goes, it's not going to be stagnant.

It's going to go down. And it is kind of strange as I look at this. There was an article. I didn't get it to it today. But it was about the rise and psychedelics. And there was a big convention in Austin just recently. And I'm looking at the things that people are saying there. And it's like, man, we're going back to the night.

1960s with these people's kind of mindset, you know. I'm just all about love and peace and all this kind of, you know, and we're all one with the universe. And yet at the same time, you know, we're looking at some of the worst aspects of the 70s, the stagflation and the oil embargoes and all the rest of the stuff. We know how that turned out. And we know how it turned out for gold as well. So we're seeing a lot of this history repeating itself and rhyming with itself, aren't we? Oh, we absolutely are, except it will rhyme, but it won't be exactly the way it was. The reason being is because there's there's not a lot of solutions, at least in the short term, the bag of tricks that they've been able to use in the past, either, you know,

massively increasing interest rates to stop runaway inflation. Like that's not really with the bond market the way it is today. Just with the general economy, if you look at what, you know, 50 years ago, if you look at what the major contributors to economic growth were, which is like commodities and, you know, you'd have things like oil and. gas and other other things but gold like there was like a one-twentth of the economy that's like one percent the rest is all this other stuff that's made up it's made up because you have currency you have like these derivative markets and like securities and all these things that are just

inflationary they just again it's the it's the appearance of wealth without actually having true wealth and that itself is what's in jeopardy right now and i i think that you know we talk about how do you protect yourself? Well, you know, we don't really need a gold standard for the government. The government, by the way, being in the business of currency creation is always going to be corrupt. Every government. It's the best thing you can do is be your own bank. You know, that's one of the things that I try to do for myself. And, you know, it's not perfect because you have to worry about, you know, how you're going to store your metals and other things. And not everybody can have a lot of metals. It's one of the reasons we have Wolfpack.

I mean, for 50 bucks, you know, 50 bucks and it'll get you some savings. But, no, it's not a perfect thing, but being outside the system is more important than ever, especially you know about bail-ins, not just bail-outs, you know, where they, you've heard the term the great taking. Have you ever heard something like that? Oh, yeah, yeah. Give you a haircut on your bank account. I love these euphonisms that they come up with.

Give you a haircut. And it's like, you can object to a haircut. Yeah, it means they're going to steal from you. That's exactly right. And, I mean, when you have something, especially. especially in a in a fdi secured bank you know and i have to do that because of business but anytime that it's funny because anytime i get a transaction for a customer it's a larger amount i don't i don't want that money uh sitting in my account a minute longer than it has to be i want it away

i want it in the you know at the wholesaler i want to pay for the product because i i do think that you know you wake up one of these days and we're going to have a banking crisis it's not whether i want to or not i think you look at uh when you make stuff more, again, it's crazy to me that we're in this predicament because we've got this, you know, inflationary currency plus an energy crisis. Plus we're making it harder for people to borrow. You know, that's a perfect storm. And eventually, you know, something breaks, especially, you know, everything that's been broken since 2020 and all the stuff before. It adds up, right? But Tony, Scott Besson is a genius. And we've got a genius there at the Treasury Secretary. A guy

who was the right-hand man of George Soros when they broke the bank of England and broke the Japanese banks. And so now he is head of the Treasury Department. What could possibly go wrong? I'm sure this is all 40 chess, as Glenn Beck would say. Oh, you know, Scott Beston said, I'm the house now. Yeah. Bet against the house. Well, you know, I'm happy to do that.

I'm happy to bet against the system that has been created since 1971. You know, look at the wealth that the U.S. has lost, David. I mean, if you go back to, if you go back to 1949, the United States had about 22,000 tons of gold. Okay. And that, at that time, that was half of the, of the goal that had ever been mined in the history of ever. Okay. So we, we, since that time, and we don't know how much gold we have now because people talked about Doge and we're going to audit the Fort Knox gold and no one's ever seen it. But it's supposed to be about 8,000 tons or something.

Yeah, it's all a lie and a head fake, isn't it? It's all the stuff and they never follow through on anything. But the people act as if they actually did it. Well, right, because a headline and then if you keep the headline long enough and then you regurgitate it, it seems like something got done. I think that's probably a trick of psychological warfare. I agree. It's more appropriate like it's like touching it but not actually doing it.

But my point of that was is that if you look at the wealth decline of the U, like the U.S. and what we actually held, I think that's indicative of where we're going because we built so much on top of what is not real. And there's a reckoning for that. It's not about whether I want to. It's just mathematics. I mean, you've built something that is not sustainable. The reason that we went off the gold standards, because the world started to notice that, hey, there's no way they've got the dollars are outpacing the gold holding. And so these other people started repatriating gold in their dollar holdings and turning them into gold. So Nixon closed the gold window.

We just literally didn't have it. Don't you find it amazing that you got all these young people in the Republican Party that are trying to make a hero out of Richard Nixon? It's like, I'm sorry. I was around when Richard Nixon was president. I couldn't see anything heroic about this guy. Well, the president does it. It's not a crime. You know, it's not illegal.

So I don't have, when I have anything to do with that guy, I always thought of, you know, when Roger Stone, who I had the, has his face, a cartoon version of his face tattooed on his back. I said, yeah, I've been stabbed them back multiple times by Richard Nixon as well. He had, I mean, you know, he had Woodrow Wilson's desk in the Oval. That was his favorite president, by the way. Oh, that should tell us, yeah. I've read many biographies on Nixon. It was interesting, you know, the thing about Nixon, though, he's the only president where the press was. activated to take him down, you know, with Bernstein in the Washington Post. Nobody's ever

done that again. He did do something like with the deep state. There was, in my opinion, there's something that Nixon did and touched on that got him booted with Dick Helms, who's head of the CIA at the time. And it's probably something with the Kennedy assassination. If you, if you watch Oliver Stone's movie Nixon with Anthony Hopkins plays Nixon, it's a great, it was my favorite movie. But if you watch it, there's all these little takes where Stone's trying to show you that Nixon knew something about, or there was something hidden with that. Anyway, I think that's, I don't know why the modern young Republicans are putting him up on a pedestal, but that probably for ignorance.

I really don't know. Price controls. Yeah. And it was speed limits. The drug war. That's right. Yeah. EPA. OSHA. He picked John Connolly, who was riding in the car with Kennedy. He was governor of Texas in 1963. He was in the, that's where he get the magic bullet theory. But Connolly was his secretary of the treasury. That's when we went on, uh, off the gold standard. It was really Connolly was working as an agent for, you know, other interests.

And this is, it was going to enrich a lot of people, um, to, to go off the gold standard. I don't have that fixed, um, fixed value anymore. And something that Nixon and Connolly did was funny because you get the, magic bullet theory because of Conley, but you also get the magic monetary theory or the magic money tree, as you say. Yeah. So it's interesting, right? The history interwoven there. Pocus, and of course, when they start talking about haircuts and banking accounts, understand your Sampson in that, right? The Delilah is out there who are trying to seduce you and to taking away everything that you've got of any strength or value. It's kind of interesting

to look at, again, nobody knows what the price of anything is going to be. in the future, but there is a Canadian bank, C-IBC, that has lowered their short-term price forecast, but they see a recovery up to $5,200 in 2027, which I think of interesting, the numbers that they were talking about, a fourth quarter gold price forecast, they don't know, but they're thinking to be about $4,500. If you look at that, that's about 10% increase from where it is right now, 9.7%. If they would go up to $5,200, that's a 27% increase. And I don't buy gold or silver because I'm trying to speculate on the market. But at the same time, you know, when you look at this, that kind of gives you an idea of what's happening to the value of the dollar.

Tell us well quickly what is going on at Wise Wolf Gold. Of course, people can get there by going through David Knight.com. And you've got a broadcast that's coming up right after this one, I guess, on Arterburn Radio. That's right, Arterburn Radio transmission. And as always, great to see you. And I always look forward to your talks with Gerald, too. So it's easy to step aside. But Tony.gold is my website if you want to find me in my podcast or shows.

And, of course, David Knight.org for, you want to take any of your fiat currency. You can get outside of the system and become your own bank. We make it really easy with Wolfpack. Yes, you know. Just a monthly amount or a one-time deal. And there are no minimums or maximums at Wise Wolf. And I like it because even at the. small levels, you start getting little things like the little chicklet breakoff stuff or the gold

backs and things like that, which I think are really going to be important in the future. It adds up. It gives you some convertibility and it gives you some variety and the ability to do that. So that's one of my goals. Every week when I reset those invoices, I pay attention to them, folks. That's great. Well, thank you so much. And appreciate your support of the program. Thank you, Tony. And again, you got a new website, tony.comold. That's great. You can go, that's my podcast, any links to my companies. Great, great. Thank you so much.

Tony Arden, Wisewolf, Gold. And, of course, you can also get to him by David Knight. Dodd Gold, which he set up a while back. And that lets him know that you're coming through us. Thank you, Tony. Appreciate it. The common man. They created common core to dumb down our children.

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