The David Knight Show - INTERVIEW Triffin Dilemma & Defunding the "World's Policeman"

Episode Date: April 27, 2023

Tony Arterburn, WiseWolf.gold, on gold, how sanctions have pushed nations to defund the "world's policeman" by moving away from the petrodollar.Find 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 through Mail: David Knight POB 994 Kodak, TN 37764Zelle: @[e-mail] App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7Money is only what YOU hold: Go to DavidKnight.gold for great deals on physical gold/silverBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-david-knight-show--2653468/support.

welcome back and joining us on the phone is tony arbon he is so busy because of what is happening with gold that he's not in the office and so we've missed a couple of weeks because tony's been on the road so we got him on the phone today and uh it is it's kind of interesting to see what's happening we've got record uh silver uh that that is happening in terms of setting records in pretty much every category in 2022. In a report that was released this week by the Silver Institute. And so a big increase in silver demand. Of course, there's industrial stuff there as well as people trying to get out of the dollar. But the big attack is coming from the dollar,

and there's a big attack on the petrodollar as well as reserve currency. Thank you for joining us, Tony. We were just talking about a dilemma that I'd not heard of before and you just found out about. Tell people about this. You said it was kind of like Gresham's Law in terms of good and bad currencies, but this is about what happens with reserve currency status when that goes away. Thanks for joining us. Well, thanks for having me, David.

And yeah, I've been on the road. I think in the future, a precious metal dealer is going to be defined by how he can supply his customers. That's going to be the biggest key to all of this in the future. So I've been working on setting up another location in North Texas and working out new wholesale relationships, anything I can do to keep the supply rolling in. And as we see all of this de-dollarization, that's in the headlines. That's mainstream now. This is something we were talking about, you know, two or three years ago, but now mainstream's picking it up. It's accelerating faster and faster than even I anticipated with, you know, the sanctions on Russia. You know,

I talked about this last week on your show, but, you know, we were 75% of all financial transactions in 2001 were done in dollars around the world. And by 2021, it was 55 percent. Then 2022 and into our present, it's 47 percent and declining rapidly with the BRICS nations. And that's something I've been looking at with the de-dollarization. But it comes back to something called Triffin's dilemma. And it was from an economist named Robert Triffin in the 1960s, was testifying before Congress. You know, that was about the time, David, that Lyndon Johnson took the silver out of the coinage. And around 1967 was the largest order of gold by central banks up until now.

And that's when President de Gaulle of France actually sent warships over to the United States to pick up the gold. You know, they wanted their dollars repatriated in gold. And anyway, Triffin's dilemma is really what happens when you lose a reserve currency. Because in Bretton Woods in 1944, you know, they pegged the dollar to gold, $35 an ounce. It's the world's reserve currency because in Breton Woods in 1944, you know, they pegged the dollar to gold, $35 an ounce. It's the world's reserve currency. It's the new economic world order. It's where you get the IMF. It's born out of Breton Woods. Well, Breton Woods came to an end in 1971 when Richard Nixon took us off the gold standard. But part of becoming the world's reserve currency, David, is basically every central bank around the world had to be given

dollars. They had to stock them with dollars. And you're talking about quadrillions in numbers. So you really can't fathom how many dollars dollars were created and as we lose the world's reserve currency status and it's kind of like him hemming ways you know gradually then suddenly it may be one of those things where we just wake up you know uh you know it usually happens on a sunday that's when nixon took us off the gold standard he interrupted uh in a an episode of bonanza and uh that's enough reason right there that's enough enough reason right there not to vote for him. Come on, I want a hop back and a little joke. Come on.

Ironically, too, Bonanza is about people going out west to find gold, so I thought that was even more interesting. But we've got an issue with Gresham's Law. You brought that up, too. Gresham's Law just states that when bad money enters a system, like fiat currency, when you unpeg it from any value, when bad money enters a system, it drives good money into hiding until it doesn't, until fiat currency reaches its end, which it always does.

But Triffin's dilemma is what happens, and I think we all know the answer, when you have those trillions and trillions of dollars coming back home, coming back to our shores. That is the nightmare. And again, I don't cheerlead this at all. I hope I'm wrong. I know that if we lose the reserve currency status i mean my fellow americans are going to be hurt it's going to hurt the west it's going to hurt the civilized world i mean it's really going to be a a dark time and i don't know on purpose i think they're doing it on purpose i've got a headline here 30 of the world's economies are now sanctioned by the g7 i mean they are you know it isn't just that we're losing reserve currency status because

we've been footloose and fancy free and spending money that we don't have and all the rest of the stuff no it's because we've used it as a weapon and people are running away from it it's like i'm not going to have my wealth taken away and confiscated or locked up or whatever by the u.s government i got to find some other way to do it that's what they're doing they know full well what they're doing they're doing full well what they're doing. They're doing it deliberately. This is not an accident. This wasn't a mistake.

They did it. They're continuing to do it. They want to shut down energy, and they want to shut down the U.S. dollar. There you go, petro and dollar. They're shutting them both down. Well, the U.S. dollar, the U.S. economy, the U.S. empire itself is building seven. I mean, it's being brought down through a controlled demolition. I agree with you on that.

And, you know, they've rigged this. You look at the sanctions on Russia. They had to run simulations knowing exactly what was going to happen. And you're 100% correct. Those sanctions are a sanction on us. Yes. You know, it hasn't hurt the Russian people. It's hurt us. It's hurt, it's hurt the world economy. It's hurt the supply chain. It's, it's hurt, it's hurt every aspect of our lives. It's all blow back against us yet. They double and triple and quadruple down on it. So that just goes to show you that they're not making any mistakes when it comes to hurting us and hurting the future of

American hegemonic power. This is being brought down from the inside. I agree with you on that. I agree. So tell us a little bit more about Triffin's dilemma. How does he see this playing out? You know, he says it's going to be really bad when, you know, this, we lose reserve currency status. You know know exactly how does he see it unfolding well I was just doing some research on I heard this through Robert Kiyosaki and his podcast the Rich Dad Poor Dad author and I said what is that and I looked it up and so basically trying to solve Griffin's dilemma I don't know you know again it's all theoretical like Like, what are we going to do? How do you repatriate those dollars? And really what it boils down to, David, is once

you become a reserve currency of the world, which has been very few, and especially, I mean, you're talking about after World War II and the aftermath of that. I mean, the United States was 5% of the world's population. We had 50% of the wealth. You know what's happened since then. And we've had our wealth and technology siphoned off through free trade agreements and policies that take our wealth and go eastward with it. It's one of the reasons why you always hear, you know, all these central banks are buying gold. They don't mention ours. They don't mention the American. So there's something wrong with that. So basically, once you, again, the dollar is fake, but it identifies as gold. It identifies as real.

I think it's a, you know, a trans currency in some way. But there really isn't any way out of it. I mean, if you look at the scenarios that you could run, there's really no way around it. Once you take that mantle, if you lose the reserve currency status, you're talking about a rapid, massive, catastrophic devaluation of your own currency. I don't think there's any way around that. I mean, look at Saudi Arabia after we abandoned Afghanistan. By the way, I was all about getting out of Afghanistan. My unit was the first army company on the ground in Kandahar. So I know a thing or two about Afghanistan.

I wanted to get out of Afghanistan six months into it. I was still there. I thought we should get out. But they saw that. They saw how we abandoned all of those people. They saw that, you know, we left the equipment there, just this, you know, bloated, pitiful giant that we are now being run by these globalist automatons. And they bailed. And they went and they're under the protection of russia and china now they've applied for the for the for the brick status i mean they you know brazil russia india china south africa soon to be saudi arabia 60 other nations have applied for uh admission into bricks mexico has applied for admission into BRICS. The U.S. dollar, and there's nothing you

or I or pretty much anyone right now can do about it. I think that ship has sailed. The question is, what do we do to protect ourselves? What can we do in the coming economic turmoil? And it's going to be a lot of change. I wouldn't say that I'm a doom and gloom guy either. I think there can be some massive opportunity to, you know, to become more independent and to understand how the monetary system works. And make no mistake about it, I learned something every single day about this business and about history of money. And, you know, I'm still a student, very much a student. Um, but we are about to get a crash course in, uh, in how currencies die.

Um, especially, and it's not going to go to zero. I mean, I think you and I've talked about this before, uh, problem reaction solution, never let a good crisis go to waste. What are they going to do in the aftermath? Well, if, if this is a controlled demol to waste. What are they going to do in the aftermath? Well, if this is a controlled demolition, well, they're going to usher in central bank digital currency. That'll be the savior. That'll be what you need is download your wallet, you know, get your biometrics tied to it. You're all of your, you know, your social security number, your driver's license, your identification card, all that, and tie that to the central bank digital currency that will be the savior of losing the reserve currency status. The United States is going to be much like Russia was at the fall of the Soviet Union.

You know, still a nuclear power, still have some clout, but we're not going to be the dominant superpower anymore, David. I mean, just like, imagine that. The World Economic Forum had that commercial, you know, you'll own nothing and you'll be happy. But that, if you watch the commercial back from 2015, 2016, it says, that's the first thing it says is imagine a world by 2030 where the United States is not the lone superpower. That's right. So this is, I mean, they, they've had a, they've had a plan. Uh, they're carrying it out. Part of that is the United States being, um, moved to it again, a third rate power. And that means the currency goes with it.

And so that message to, to all of us and to, you know, the listeners is that you're going to have to be ready for that. That it's not going to, the economy is not going to look like it does today. And especially your savings account. Well, I think at the federal level, it's pretty clear that they are focused and pursuing a path to deliberately

destroy everything. You know, not just our currency, but our energy to ban cars, to ban power plants. I mean, we got the EPA is the weapon that he's using to do that kind of stuff with the climate Mac McGuffin.

And so they're working at that. As you pointed out, everybody is running away from it. As I just said, 30% of the world's economies are being sanctioned right now. One person said, this is a defund the global police moment. So in a way, we've been the world's policemen. And so people are just going to defund that because they're sick of us being the world's policemen and quite frankly i'm sick of it as well but we can't muster the political will in washington to do anything about it so to

be taken away from us i think our country is under a moral judgment as well quite frankly when we look at what is happening so what do we do you know get our lives in order, and we try to do whatever we can at the state level. We have a lot of different things that are in the works at state levels. Tennessee is working on trying to get a gold depository and a publicly owned bank that's going to try to keep up another financial system that is not totally captive to the Federal Reserve to try to keep that going so we can have uh you know financial side to the economy that is still alive texas is doing some of the same stuff texas is talking about having a gold bank digital currency zimbabwe came up with the same idea so there's a lot of different things that may be done at the state level

whether they can work or not whether they'll be done quickly enough or not, but it's really up to us, right? At our local level, we're going to have to try to take preparations and protect ourselves at the local individual level. That's right. That's the answer is decentralization. I was asked on another show this last week, what about Weimar Germany? What did they do during 1929 and on when they had hyperinflation?

Did they just go to gold and go to silver? I said, no. They used a host of other currencies. They had the pound sterling. They had the dollar. They had gold. They had silver. So you're going to have competing currencies.

And when the dollar eventually loses that reserve status, I don't think, David, I don't think it's just going to be replaced by the Yuan. I think there'll be competing currencies, you know, the BRICS, the nations, especially the said, you know, using a basket of commodities to back it up. But it's interesting, you know, if you have in my business, see to me, you know, the old bankster, JP Morgan, you know, he says that gold is money and everything else is credit. Well, in today's world, gold is money and everything else is debt. And, again, I see people kind of confusing this, like, well, is gold going to go up? I'm like, I don't know, but the dollar is going down.

So, I mean, I don't really look at it like it's an investment. I look at it as money. To me, I'd rather have gold coins than I would have $100 bills any day of the week. I know how liquid that is. And that's the thing about it, David, is we have a gold standard that's universal around the world. So whether you're in Boston or Bangladesh, that's the price of gold. That's spot. Around the globe, everybody knows spot price that's dealing in precious metals. So we have that. That's spot. Around the globe, everybody knows spot price that's dealing in precious metals. So we have that. That's kind of a set thing. Markets have done that for hundreds of

years. And we have the ability to know universally what gold is. So gold is money. Silver is money. I believe that Bitcoin is a form of money in some ways, and especially because it's finite. I mean, it's not as reliable as gold or silver. It's not in your hand, but as far as transmitting value. So there's going to be competing currencies. Really, the main thing is, is just education. If you know, uh, you know, if you know the ins and outs, if you're, if you're following, truly following currency markets and following how gold and silver are bought and sold, uh, how to, and sold, how to get in and out of cryptocurrencies.

These are things you need to learn. That's kind of what I do with my shows, my podcasts and appearances. I just try to talk about what you can do to empower yourself in these times. Yeah, as we were talking about last week, I don't deal much with cryptocurrency. So I was like, you know, so what if you got your stuff in your wallet offline as you should keep it shouldn't keep it on any exchanges and everything but you know are you going to be able to uh make exchanges with bitcoin with somebody else uh and as long as the internet is up yes uh so but you need to know how to do that what is the spot price of gold right now uh Last time I checked, it was like $1,978.

And I can check it for you right now, just if I can pull up my phone. That's okay. I'm just curious. I mean, it's kind of, you know, it got up around $2,000. It's kind of hovered around there. But as we're talking about this, and you talk about how, well, everybody wants to know what it is in terms

of dollars, it goes up and down based on the dollar. The dollar is what is fluctuating. And it's going to fluctuate based on what people think the Federal Reserve is going to do to the economy in terms of easing money supply or changing interest rates or whatever. So they're going to look at that and say, well, that's going to be a good thing for the dollar. People are going to want to invest in the dollar. So that changes the price of gold relative to the dollar, people are going to want to invest in the dollar. So that changes the price of gold relative to the dollar. The way I think of it, Tony, is, you know, for the longest time we had, um, you know,

in an engineer, we'd look at stuff, uh, you know, going back and forth between metric and the English system, right? The U S is on the English system and pretty much everybody else was on a metric system and it would get really complicated for people if they're trying to go back and forth between the systems. But if you stay within the metric, everything was very logical. And it would get really complicated for people if they're trying to go back and forth between the systems. But if you stay within the metric, everything was very logical. You know, you didn't have, you know, 12 inches to a foot and three feet to a yard and, and, you know, 5,200, whatever it is, you know, feet to a mile, you

didn't have these different odd things. Everything was a multiple of 10. And if you knew what the prefixes were you knew whether it was 10 times whatever that unit was or one-tenth of that so within the metric system everything was very rational and and so it was the english system that messed it up and so that's what's really messing with the the gold and silver is the u.s dollar is kind of like the english system that's throwing all these monkey wrenches into the units of measurement. And that's really the way that people need to think about it.

It's been pretty good. Yeah. It's been very consistent. The gold has been very consistent. As you pointed out many times, I've talked about it in terms of looking at. Uh, fixed goods, you know, from like a hundred years ago and, uh, you know, what is fine suit or pick some other commodity or something like that. And you see that the gold has kept its, and it's about the same as it was 100 years ago. But the dollar has been all over the place because of political manipulations.

Well, imagine if they actually taught that in schools. But that's not what they do. I mean, if you look at the 1970s, and by the way, gold is $1,979 as of right now. We'll talk about 1979. If you go from 1971, and that's the year I was born. If you go from 1971, gold was $35 an ounce. And Nixon takes us off the gold standard. By the day I was born, December 26, 1979, I believe it was around $750 a troy ounce for gold.

That sounds about right. Right. So if you look at the 1970s, it seems like gold is the hottest, biggest investment. It's worth so much more. It really wasn't. It's the loss of the purchasing power of the dollar. And I think that has been hidden. We don't truly know the true catastrophic loss of

purchasing power yet. I think that's coming. I don't even know how to evaluate the price of gold. There's so much with the paper markets that is engineered to keep it artificially low. There's many people and researchers that have thought this for years about the paper markets and gold and bullion in the central banks. The dollar competes with gold. It's funny, David. I don't know if you saw this, but on Zero Hedge, there was a couple of Russian prankster comedians that got Jerome Powell to believe he was talking to Zelensky. Did you see this? No, I didn't see that.

I saw where they did it to Ursula von der Leyen of the European Central Bank. They got Jerome Powell as well? They got Jerome Powell, which is't see that. I saw where they did it to Ursula von der Leyen of the European Central Bank. They got Jerome Powell as well? They got Jerome Powell, which is kind of funny. So, like, you got these two guys acting, playing Zelensky, who is himself an actor. And I'm thinking, is this some kind of paradox? But they fooled Jerome Powell into thinking he was talking to Zelensky. And Powell had some interesting admissions about the economy and where it's headed and the chances of recession. And something I go

back to Powell on, he said months ago, he said, we don't think that we'll have to, there will be a recession or we don't think we'll have to cause a recession for the inflation fight. And I thought, wow, that's interesting that, you know, we just give this power, this authority to the central bank. I mean, because it's, you know, I think it's the fifth plank of the communist manifesto that we have one. But we've got, you know, Jerome Powell wielding that power. And I've thought for a long time, I don't think that they're going,

I don't think they're going to step in to try to save the economy. I don't think their heart's in saving the U.S. economy as much as it is keeping a strong dollar and keeping the world's reserve currency. I think that's what they're striving to protect with these interest rate hikes. That's right. They don't want it to go into hyperinflation, and they'll do whatever they have to, to drive us into recession or depression to keep it from going into a hyperinflation because their first,

their number one thing is the dollar. And yeah, we don't want to cause recession. You know, it was one of the things when I did that report on the hundredth anniversary of the creation of the federal reserve, it's a wonderful lie and, you know,

put in clips and stuff, you know, from, uh, it's a wonderful life. And, and I also had a lot of stuff in there about what people were saying about the Federal Reserve and what it would do when it was about to be created. Lindbergh's father and other people were talking about that.

They said they're going to cause boom in bus cycles. It was sold as doing just the opposite. We're going to give financial stability. Of course, J.P. Morgan had been part of engineering a crash just like mr potter did you know in the movie but they sold it as a thing of stability and yet um you know the critics were saying no they're going to cause boom and bust and they're going to profit from the boom and bust the ultimate insider trading as we refer to it today but that is exactly what they have done. You know, we were talking about the metric system.

I think another way to look at the dollar versus gold is kind of a relativity thing. Imagine that you are on a train and then there's a gold train or you're on the dollar train. There's a gold train over there. And the dollar train is rapidly accelerating forward and backwards and forwards and backwards in the gold train. It's standing still. But when you're looking on this thing, if you don't feel the acceleration, you think that gold is going crazy. But the gold is right there. You're the one that's going really fast in one direction, real fast in the other direction.

That's exactly right. I mean, we're going to keep whipsawing like this as the dollar goes through these last cycles as the world's reserve currency. And I don't know what happens after that. I just know that right now, central banks are really what's moving the needle in gold. If you really drill down into the numbers, that's what you're seeing. These central banks are loading themselves up with the yellow metal, and that's because there's going to be a reset of value across the board globally, and they don't want to get caught flat-footed. And that's what's driving the price.

I agree. Normal people haven't yet. And, again, this isn't a scare tactic. You know I don't do that. I just tell people I'm looking at supply. It's one of the reasons I'm on the road right now. And I'm actually up in Illinois because I had to go pick up an order from a private dealer that I bought some, some supplies for Wolfpack for, because we're having a harder

time getting on time delivery in a timely manner for fractional gold. You know, cause I, we've got the Wolfpack memberships, it caps out at a thousand. time delivery in a timely manner for fractional gold. You know, because we've got the Wolfpack memberships that caps out at a thousand. So if you're getting any gold, it's going to be fractionalized. So that's one of the things I'm doing right now and getting more supply. It is very short. And again, there's a lot of things I can get right now. I mean, there's certain items.

But when I started in this business, I think gold was, uh, $1,100 an ounce and something like that. And, uh, you see where it's gone since then. And silver, I mean, I used to be able to get silver Eagles for $16. I remember buying them and that was my cost. And now, you know, now, right now they're close to $40 a piece cost. And then, you know, we're retelling for 45, 46, 47. So there's so much premium in this stuff now too, David. That's another thing is that's a, people aren't even seeing that when I quote the spot price. But the premium for the real world fee to get that in your hand. So this is, you know, your audience, my audience, people that are paying attention, you're way ahead of the ball because the mainstream media,

when it's too late, they'll tell you it's time to get precious metals and there just won't be any. That's right. Yeah. Yeah, you were talking about that earlier, you know, 1979, 1980, that's about the time Karen and I got married. I remember, you know, gold is kicking around $800 an ounce, and it was, everybody said, gold is kicking around $800 an ounce and every, and it was,

everybody said, wow, that's the investment. And of course, you know, relative to the dollar, it was a great investment for people who got in there early. The key thing is, you know, we're looking at this as a prepper thing. We're looking at this as a long-term thing because we know long-term what is going to happen to the reserve currency status because it's been abused by the global police state. And so just like any other prep thing, you want to be able to do it little by little, gradually get into it.

And I think that's the real beauty of what you've got set up there with Wolfpack. That's a great program for people to be able to just do it on a regular basis and small amounts. But of course, you know, you're not limited to doing that either. Tony can cover any kind of things there. Of course, if we want to transfer your IRA into that, I've had some friends say, hey, I've got to get my IRA out of the stock market and stuff and get into gold. It's like, yeah, you absolutely do need to do that.

And I try to get it into gold metal, not into gold mining stocks or in the ETFs and stuff. I mean, the gold mining stocks, I learned etfs and stuff i mean the gold mining site i learned that lesson several decades ago uh gold mining stocks because they're like these many stocks out of canada and you're talking about the penalty of trying to go in and out of that and changing currencies and all the rest of the stuff just even if you hit a home run eight you ate up all your profits there because they're all done in percentages. So there's those types of things. It's physical gold, physical silver. And again, Tony at wisewolf.gold, great to deal with. I've known him for a very long time,

and I really do appreciate what you set up there with DavidKnight.gold for people who listen. Let them know that you've come from here. Thank you so much for joining us today, Tony. Appreciate it. Thank you, David. It's an honor to sponsor this program. Thank you so much.

Thanks for going to Extra Trouble as busy as you are to come on the program and talk to us. appreciate it thank you david it's an honor to sponsor this program thank you so much uh thanks for going to extra trouble as busy as you are to come on the program and talk to us uh have a good day thanks you too sir take care all right we're going to take a quick break folks and we're going to get our guest on uh the book is debunked an auditor reviews the 2020 election and the lessons learned we want to talk about talk about what it takes to have an honest election. He is a CPA, MBA. He's got decades worth of experience. And so he's going to talk about some of the numbers and what we need to do in order to

have an honest election in terms of the vote count. Of course, there's many other ways that they rigged the election in terms of not even having debates, but we'll be right back. The common man. They created common core to dumb down our children. They created Common Past to track and control us. Their Commons Project to make sure the commoners own nothing. And the communist future. They see the common man as simple, unsophisticated, ordinary. But each of us has worth and dignity created in the image of God.

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