1 00:00:00,190 --> 00:00:04,480 and shake things up a bit. The dollar standard is going away. 2 00:00:05,480 --> 00:00:13,199 Now by that I mean the global reserve standard of the treasure bond is going away. 3 00:00:13,230 --> 00:00:19,809 And what I think is going to replace it is corporate stablecoins that 4 00:00:20,879 --> 00:00:28,480 create numerous large bodies of liquidity. And I call it the Seven Seas. 5 00:00:28,480 --> 00:00:34,600 We know what the Seven Seas are, Atlantic, Pacific, Indian, Arctic, all the oceans. 6 00:00:34,689 --> 00:00:44,079 The corporate stablecoins are going to replace the dollar as the 7 00:00:44,310 --> 00:00:51,289 currency reserve in a sense of like central bank holdings, corporate 8 00:00:51,369 --> 00:00:58,320 holdings, insurance company, pension company holdings. We're going to be going to... 9 00:00:58,320 --> 00:01:06,099 Now on the other side of the global standard you have payment standards and the Treasur... 10 00:01:06,099 --> 00:01:12,239 And I think it's going to yield to a group. And Trump is calling it the strategic... 11 00:01:12,239 --> 00:01:18,810 Well, you know, I've got a different viewpoint of this. He's naming the trade... 12 00:01:19,069 --> 00:01:24,319 , XRP, Solana, Cardano and add H-bar perhaps to that. 13 00:01:24,510 --> 00:01:31,120 And why? Because they're so inexpensive and they're so fast. 14 00:01:31,120 --> 00:01:37,760 I did a January little cost effectiveness analysis. It was very primitive. 15 00:01:37,950 --> 00:01:44,519 And it was 650,000 times faster cheaper with XRP 16 00:01:44,540 --> 00:01:53,310 compared to Swift. Not 650 times, 650,000 times faster cheaper. 17 00:01:53,310 --> 00:01:57,900 Okay, the big banks are going to climb on to that because it's cheaper and it's faster. 18 00:01:58,069 --> 00:02:01,319 They're going to have cost savings. What are they going to do? 19 00:02:01,319 --> 00:02:08,680 Well, Bank of America and Bank of New York, Mellon and a few other big banks have alre... 20 00:02:08,680 --> 00:02:15,439 assets under management. And it's tens and twenty, thirty trillion. 21 00:02:15,680 --> 00:02:20,419 It's Chris. They're going to convert it into stablecoin. 22 00:02:20,430 --> 00:02:24,520 And the leader is Ripple, R-L-U-S-D stablecoin. 23 00:02:24,550 --> 00:02:32,400 And once it's on the Ripple stablecoin ocean, it's floating in that ocean like the seven... 24 00:02:32,400 --> 00:02:38,969 They're going to be like seven corporate entities. And I think Ripple and XRP are... 25 00:02:38,969 --> 00:02:45,780 I think they're going to get the majority. Okay, once you're in the R-L-U-S-D... 26 00:02:45,780 --> 00:02:52,349 going to replace the Treasury bond for global reserve standard, I think, along with the 27 00:02:52,349 --> 00:02:58,969 other corporate stablecoins. Once they're in the Ripple stablecoin ocean, you 28 00:02:58,990 --> 00:03:05,689 're going to be using XRP to do your transfers. After we get some clarity in th... 29 00:03:05,699 --> 00:03:11,199 to see Ripple announce how they're going to be expanding from the bank sector. 30 00:03:11,389 --> 00:03:16,719 In my February reports, Chris, I'm not making this up. 31 00:03:16,719 --> 00:03:23,340 I got about 30 lines and it's about 180 or 200 banks that are 32 00:03:23,340 --> 00:03:30,479 all now adopting XRP. 200 banks. In December, it was six. 33 00:03:30,650 --> 00:03:34,870 In January, it was 30. Now, it's almost 200. 34 00:03:34,870 --> 00:03:39,060 Is that exponential growth or what? And I noticed something. 35 00:03:39,060 --> 00:03:42,789 About a quarter of the banks, maybe a little bit fewer, they were Japanese. 36 00:03:44,590 --> 00:03:49,830 Okay, now the Japanese have a law, a regulatory dictate. 37 00:03:49,870 --> 00:03:53,580 It said that in this year, all Japanese banks must be XRP compliant. 38 00:03:53,840 --> 00:04:00,349 They're going to be getting involved in the XRP, I'm sorry, the Ripple R-L-U-S-D... 39 00:04:00,469 --> 00:04:04,060 You watch Toyota, they're going to make an announcement in the next few months. 40 00:04:04,060 --> 00:04:10,939 You're going to make a big commitment and they're going to put it in like half a... 41 00:04:10,939 --> 00:04:17,449 to put it into the stablecoin of Ripple. And that'll be a guarantee, pretty much a... 42 00:04:17,680 --> 00:04:24,259 XRP for trade payment. Do you know of any people who have Toyotas in their gar 43 00:04:24,699 --> 00:04:31,220 ages, of Nissan in their garages, of Honda in their garages, of Hitachi 44 00:04:31,220 --> 00:04:40,399 computers or Nikon cameras? Okay, the Japanese are going to be moving full whole... 45 00:04:40,589 --> 00:04:47,139 The key is stablecoins. Stablecoins, I keep repeating, it's 46 00:04:47,139 --> 00:04:53,759 going to create seven corporate oceans for the global liquidity. Once they got 47 00:04:53,759 --> 00:05:00,540 global liquidity, then they're going to be ready to do transfers and I think we're go... 48 00:05:00,540 --> 00:05:07,569 Ripple announces that they're going to be expanding beyond banks to corporate... 49 00:05:07,750 --> 00:05:15,759 , every big multinational has a big finance department. Not a bank, but it's kind of l... 50 00:05:15,759 --> 00:05:23,750 Okay, I think we're going to see another quantum jump when Ripple announces that XR... 51 00:05:23,750 --> 00:05:28,959 None of this is going to happen without precious metal backing down the road. 52 00:05:28,959 --> 00:05:35,529 They're leaving that out of the equation right now because they've got enough bulls... 53 00:05:35,529 --> 00:05:42,050 security and exchange commission. I got word from my best, my best minds, my best 54 00:05:42,050 --> 00:05:47,439 colleagues with, you know, the thinkers in crypto land. 55 00:05:48,750 --> 00:05:55,470 They said the same thing. The SEC appeal was for a failed 56 00:05:55,470 --> 00:06:02,670 court case and a failed appeal. So they got a second planned 57 00:06:02,670 --> 00:06:09,920 failed appeal to drive out. I call them the ninnies, the ninnies. 58 00:06:10,050 --> 00:06:15,029 Oh, I don't know what's going to go on. I don't think I'm going to this SEC again. 59 00:06:15,069 --> 00:06:20,240 Okay, they sold. Okay, bye bye. You can buy back when it's five. 60 00:06:20,240 --> 00:06:26,939 It's like two and a half now. You can come back when it's five and six, and then you ... 61 00:06:26,939 --> 00:06:33,790 when you display your niny characteristics. Okay, this thing I think XRP is going 62 00:06:33,910 --> 00:06:37,360 to go to like 10 to 20 by the end of the year. 63 00:06:37,699 --> 00:06:42,360 We're going to see quantum jumps from big important events. 64 00:06:42,360 --> 00:06:47,730 XRP is not going to be the only winner. There are going to be other winners. 65 00:06:47,730 --> 00:06:54,720 XLM is going to be really important for business to business within countries, and... 66 00:06:54,829 --> 00:07:01,680 XRP, they're trying to drive, the banks were buying up XRP 67 00:07:01,680 --> 00:07:08,399 when the ninnies were selling in the last month. I told like 20 different clients,... 68 00:07:08,420 --> 00:07:11,810 back and testing to who gives a crap. Who gives a crap? 69 00:07:11,930 --> 00:07:15,339 Got up to three, now testing two. Who gives a crap? 70 00:07:15,389 --> 00:07:22,040 Started at 50 cents. What's your problem? Oh, if it finds support at two, you've got onl... 71 00:07:22,040 --> 00:07:26,129 -fold gain since December and November. Get over yourself. 72 00:07:26,199 --> 00:07:29,600 Okay, we're going to have other winners, Chris. 73 00:07:29,740 --> 00:07:36,509 I think Cardana with its, I don't know a lot about Cardana 74 00:07:36,509 --> 00:07:44,029 , but every time I read Cardana, I hear the best security characteristics of crypto. 75 00:07:44,300 --> 00:07:51,269 Elon Musk is like dumping on Bitcoin. He's trying to convince, did you notice in the... 76 00:07:51,269 --> 00:07:57,500 by Trump, Bitcoin was an afterthought. Oh, yeah, yeah, and Bitcoin would be involved. 77 00:07:57,500 --> 00:08:05,569 Oh, it wasn't in the first 50% of his announcement. 78 00:08:05,660 --> 00:08:11,649 So he's moving away from Bitcoin because it doesn't have any IP, intellectual property. 79 00:08:11,649 --> 00:08:15,829 It doesn't have contracts. It doesn't have partnerships, doesn't have adoption. 80 00:08:15,829 --> 00:08:23,199 Oh, XRP's big, big advantage is online, online, sorry, on-demand liquidity. 81 00:08:23,199 --> 00:08:31,120 On-demand liquidity. That means you can never choke on something that's too big coming d... 82 00:08:31,180 --> 00:08:34,669 I'm putting it in, you know, Lehmann's parlance. 83 00:08:34,669 --> 00:08:40,009 These are exciting times, Chris, and you know, for people who say, "Oh, I don't lik... 84 00:08:40,019 --> 00:08:43,750 There's nothing behind it." Those are your stupidest guy in the room. 85 00:08:43,950 --> 00:08:50,720 That's your stupidest guy. There's nothing behind it. I don't know what intellectual... 86 00:08:50,799 --> 00:08:57,279 I don't know what partnerships are. I don't know what the new digital architecture is ... 87 00:08:57,470 --> 00:09:00,879 There's nothing behind it. Okay, you're the dumbest guy in the room. 88 00:09:00,879 --> 00:09:09,220 Go to the back of the class and you can buy into it when it's 10 times higher and you... 89 00:09:09,250 --> 00:09:16,129 Okay, this is going to be really exciting. I just appreciate you even had a new facial... 90 00:09:16,129 --> 00:09:22,720 visually how you feel about people that are... I don't 91 00:09:22,720 --> 00:09:28,159 know anything about intellectual property. I don't know what corporate partnerships are... 92 00:09:28,909 --> 00:09:31,970 Okay, these are your dumbest people in the room. Don't listen to them. 93 00:09:32,179 --> 00:09:39,850 XRP is like a second chance at Bitcoin that went up. 94 00:09:39,850 --> 00:09:46,860 It didn't go up just a thousandfold. I remember when it was 100. 95 00:09:46,860 --> 00:09:50,549 Oh, no, that's a thousand. What am I saying? It went up a thousandfold. 96 00:09:50,639 --> 00:09:56,799 I think XRP is going to go up several hundredfold from its 50 cents, 50 cent base. 97 00:09:56,990 --> 00:10:00,139 I mean, I know it went up to two and went right back down. 98 00:10:00,190 --> 00:10:06,759 That's from the SEC Frivolous Bullshit. Okay, Trump is about ready 99 00:10:06,759 --> 00:10:12,500 to announce, I believe, an SEC chairman and push aside. 100 00:10:12,500 --> 00:10:20,480 You know what's really going to happen? The big banks are going to say, "All right,... 101 00:10:20,559 --> 00:10:24,909 You can let it run." We scared out the ninnies. 102 00:10:24,909 --> 00:10:29,139 The ninnies sold between 3.2 and 2.0. 103 00:10:29,139 --> 00:10:35,889 We got rid of the ninnies. Those dumbasses who didn't figure out that we have an appe... 104 00:10:35,889 --> 00:10:42,389 a failed case with a failed appeal. Right. When I heard about 105 00:10:42,389 --> 00:10:50,710 the failed case and a failed appeal and a new appeal, I thought, wow, how obvious is that? 106 00:10:50,830 --> 00:10:57,340 What I'd like to see Trump do now is say, "We're going to end the lawfare 107 00:10:57,480 --> 00:11:02,529 prosecution against Reggie Middleton." It was last summer. 108 00:11:02,700 --> 00:11:09,230 I had a little item in my newsletter for helping Reggie Middleton because they're... 109 00:11:09,279 --> 00:11:15,950 steal his intellectual property. They need to stop what they're doing with Reggie Mid 110 00:11:16,049 --> 00:11:23,440 dleton and enable him to become a major leader and intellectual property holder 111 00:11:23,440 --> 00:11:28,159 for the next generation because Wall Street is trying to steal his IP. 112 00:11:28,259 --> 00:11:39,190 I think we need some vengeful legal reaction to 113 00:11:39,190 --> 00:11:45,600 restore Reggie because we got an entire revolution in finance coming. 114 00:11:45,600 --> 00:11:52,399 You better be on board with it. I heard this analogy, Chris, and it's really quite... 115 00:11:52,929 --> 00:11:56,779 Well, I don't like those automobiles. They're smoky and they're loud. 116 00:11:56,779 --> 00:12:02,159 If you have an accident, all that glass will cut your face, so I'm sticking with my hor... 117 00:12:02,159 --> 00:12:10,799 How'd that work out? Well, there's still be a market for buggy whips. 118 00:12:10,799 --> 00:12:14,240 Don't worry. No, there'll be a market for tires. 119 00:12:14,429 --> 00:12:20,750 You get with the change. I don't like email. 120 00:12:20,750 --> 00:12:25,919 I think it's really weird. That's my dad. 121 00:12:25,919 --> 00:12:30,820 That's my father. My father, a brilliant literature guy in who's who. 122 00:12:31,009 --> 00:12:37,039 I don't like email, Jim. I don't know how to get on that and I'd rather use the U. 123 00:12:37,039 --> 00:12:43,250 S. Postal Service. That's reliable. Okay, Dad, I get it. 124 00:12:43,250 --> 00:12:49,820 I get it, Dad. One of the most interesting screw ups my dad 125 00:12:49,950 --> 00:12:56,389 had was he would say, "Jim, I had an accident. I was working on Chapter 4 of my... 126 00:12:56,389 --> 00:13:03,120 I deleted something by accident. I saved my document and now 127 00:13:03,120 --> 00:13:10,250 it's gone." I said, "Why'd you save your error?" He said, "I didn't want to lose my... 128 00:13:10,480 --> 00:13:17,200 up on Chapter 3. He realized that two pages out of the five 129 00:13:17,200 --> 00:13:23,850 are gone because he screwed up with his fingers, that finger, and he saved his error 130 00:13:23,850 --> 00:13:30,730 because he didn't want to lose his book. I said, "Dad, it's like pulling a book off t... 131 00:13:30,870 --> 00:13:37,740 and putting it into your computer, but it's still on your shelf." He said, "I don't th... 132 00:13:37,740 --> 00:13:43,919 that." Okay, that's your dinosaur. One time he said to me, "Jim, I know you had a prob... 133 00:13:43,970 --> 00:13:51,820 I can mail him if you'd like." He said, "In the state of Oregon, I can mail him." I sa... 134 00:13:51,990 --> 00:14:02,019 Okay, you get what the technology transfer or you get left behind 135 00:14:02,019 --> 00:14:09,120 . I think what's going to happen, Chris, is a lot of people are going to get caught in t... 136 00:14:09,309 --> 00:14:16,159 and they're going to realize that their life savings and their pensions are old school 137 00:14:16,159 --> 00:14:22,879 and they took a 30% hit. There's going to be this other crowd, like 138 00:14:22,970 --> 00:14:28,159 a quarter of us, and they say, "I realized a 20-fold gain. 139 00:14:28,629 --> 00:14:35,429 I realized a 200-fold gain because I got into XRP." It's going 140 00:14:35,429 --> 00:14:42,320 to be really interesting. I have an entire chapter on XRP 141 00:14:42,320 --> 00:14:50,240 every month now for the newsletter. I started in November having an XRP chapter. 142 00:14:50,240 --> 00:14:56,820 This month for February, I mean, February is over for the February report, that's 143 00:14:56,820 --> 00:15:00,720 where I got the three paragraphs of banks that have adopted XRP. 144 00:15:00,720 --> 00:15:04,879 This is going to be very exciting and there's so much more to say about it. 145 00:15:04,879 --> 00:15:09,289 That's why I think it's a good idea to go to golden-jackass. 146 00:15:09,299 --> 00:15:16,129 com and sign up for the newsletter, support my work, and start off reading the gold... 147 00:15:16,389 --> 00:15:23,039 reasons, for the 47th president. That doesn't show the report, that shows in yellow 148 00:15:23,039 --> 00:15:29,600 the button for signing up. Notice on the upper left, it says February report is pos... 149 00:15:29,600 --> 00:15:38,159 I got a special report for Trump's first month, the lightning-quick activity in the... 150 00:15:38,159 --> 00:15:45,809 We haven't even talked about USAID, Chris. I don't think we talked last month. 151 00:15:45,950 --> 00:15:50,860 I think last time it was December. I'm not sure. 152 00:15:51,029 --> 00:15:57,220 I knew a USAID worker. I knew him. He was a lifelong friend. 153 00:15:57,220 --> 00:16:04,000 Here's the funny part about USAID. A lot of people who work in USAID don't know what t... 154 00:16:08,909 --> 00:16:15,759 My friend, Peter, just quickly, Chris, when I was four years old, my next-door neighbor ... 155 00:16:15,950 --> 00:16:22,639 Peter and Bobby and we caught butterflies together. 156 00:16:22,789 --> 00:16:29,389 I was four and five and he was four and Bobby was three 157 00:16:29,389 --> 00:16:36,320 and we run around like knuckleheads and lunatics catching butterflies with our... 158 00:16:38,590 --> 00:16:41,759 Other times we played baseball, but Peter wasn't good at baseball. I was good. 159 00:16:41,759 --> 00:16:47,360 He would try to catch my fly balls. I broke my dad's bathroom window once. 160 00:16:47,360 --> 00:16:54,470 He got very upset. Anyway, Peter went on to Yale University and was quite 161 00:16:54,470 --> 00:17:00,769 a spectacular student and he did not like the law profession. 162 00:17:01,049 --> 00:17:07,619 He stumbled in a law firm and he said, "Jim, I don't know what I'm going to do, but I'm... 163 00:17:07,660 --> 00:17:12,369 a number of weird opportunities out there because there are a lot." What did he do? 164 00:17:12,519 --> 00:17:20,569 He got recruited by the CIA and he got hired by USAID because he was fluent in Russian ... 165 00:17:20,579 --> 00:17:27,150 I was there when he was a junior. I was doing my thing for a doctoral 166 00:17:27,150 --> 00:17:31,440 program and I only lasted one quarter. It's a long story. 167 00:17:34,000 --> 00:17:40,640 I kept up with him and I asked him, "What are you doing for USAID?" He said, "Well 168 00:17:40,640 --> 00:17:47,240 , first of all, I'm freezing my ass off in Moscow, but I go to the night clubs and I... 169 00:17:47,269 --> 00:17:54,250 don't lose my mind. I have escorted Senator John McCain on five occasions 170 00:17:54,250 --> 00:18:00,890 ." I said, "What do you do? You have a meet with people 171 00:18:00,890 --> 00:18:08,480 who interfere with press reporting and do propaganda bull crap?" He said, "Oh, I don... 172 00:18:08,480 --> 00:18:15,140 I just introduce them to the Russian." Okay, the point is, Chris, a lot of USAID people... 173 00:18:15,140 --> 00:18:20,990 't know what they were doing. It was the upper level. 174 00:18:20,990 --> 00:18:28,170 It was the management, not the workers. I was happy when I heard that they fired the... 175 00:18:28,250 --> 00:18:34,410 They started at the top. They probably fired a lot of worker bees, and that's fine. 176 00:18:34,410 --> 00:18:40,309 Well, Peter resigned. He resigned seven or eight years ago after 12, 13 years in Moscow. 177 00:18:40,309 --> 00:18:44,630 I asked, "What are you going to do, Pete?" He said, "I'm moving to Lithuania. 178 00:18:45,619 --> 00:18:51,579 It's really nice there. The climate's better. They have a winter, but it's mild and they... 179 00:18:51,579 --> 00:18:58,130 The ladies are really nice in Lithuania. They're not fat hogs like they are in the... 180 00:18:58,309 --> 00:19:05,440 , true that." Well, Jim, just if I could, 181 00:19:05,589 --> 00:19:12,450 because you mentioned a couple things that actually ties back to something you said y... 182 00:19:12,450 --> 00:19:17,680 this leaves the US on Tuesday, March 4th, no less. 183 00:19:17,990 --> 00:19:23,420 Is this headed towards a restructure, in your opinion? 184 00:19:23,589 --> 00:19:31,119 Yes, we're going to have a restructure. We're going to have a reformation, a restructure... 185 00:19:31,119 --> 00:19:37,589 We're going to get back into making things, manufacturing in the United States. 186 00:19:37,589 --> 00:19:45,190 We don't even manufacture housewares. We don't manufacture television sets. 187 00:19:45,190 --> 00:19:52,160 We barely make iPhones. We have imports of almost everything that 188 00:19:52,259 --> 00:19:57,190 's important in our society. We're going to get back to manufacturing. 189 00:19:57,240 --> 00:20:04,960 We're going to introduce AI. It's not just building robots and having really smart... 190 00:20:04,960 --> 00:20:09,470 It's all the technology behind it. It's super chips. 191 00:20:09,470 --> 00:20:14,640 We have to make data centers. We have to have more electricity power centers. 192 00:20:14,640 --> 00:20:18,960 We have to have some innovative sources of energy for electricity generation. 193 00:20:19,490 --> 00:20:25,210 Elon Musk is going to be behind that, and Tesla Engineering, not Tesla Corp. 194 00:20:25,309 --> 00:20:30,349 Nikola Tesla Engineering is going to be involved in new energy production. 195 00:20:30,349 --> 00:20:36,660 It's going to be Tesla Clip. We're going to have revolution, Chris, at the household... 196 00:20:36,660 --> 00:20:40,900 You're going to have a Tesla Clip for an apartment building. 197 00:20:40,900 --> 00:20:47,549 You're going to have a bank of Tesla Clips for powering 30 or 40 homes in the... 198 00:20:47,549 --> 00:20:53,890 ium, what do you call it, subdivision. We're going to get back to manufacturing. 199 00:20:54,009 --> 00:20:57,960 We're going to eliminate sabotage of the U.S. 200 00:20:58,380 --> 00:21:03,089 economy and work toward constructive U.S. economy ventures. 201 00:21:03,160 --> 00:21:09,769 We're going to have foreign direct investment with the money coming back, and we're goin... 202 00:21:09,950 --> 00:21:15,529 inflation when the treasury bonds come back unless they're for productive capacity. 203 00:21:15,690 --> 00:21:22,430 We're going to have a lot of productive capacity. We're going to have incentive fo... 204 00:21:22,430 --> 00:21:28,269 to be on a gold standard that's going to result in very little in price inflation. 205 00:21:28,269 --> 00:21:35,029 What we have a challenge for now is we need to retrain our young people because they 206 00:21:35,029 --> 00:21:38,849 don't know shit from Shinola about math and science. 207 00:21:39,069 --> 00:21:45,670 They couldn't do an integral to save their soul. They couldn't do a closed 208 00:21:45,670 --> 00:21:52,400 circuit diagram to save their soul. They know video games, they know 209 00:21:52,400 --> 00:21:59,259 cocaine, and they know welfare from the government because they're screwed up in... 210 00:21:59,259 --> 00:22:02,289 We need to train our young people because we're in trouble. 211 00:22:02,509 --> 00:22:10,269 Well, yeah, maybe it's time for the repatriation of Jim Willey, and we could g... 212 00:22:10,269 --> 00:22:15,119 I mean, Jim Willey and children, natural combo as far as I can see. 213 00:22:15,190 --> 00:22:18,490 I'm going to be winding down, Chris. I'm tired. 214 00:22:18,490 --> 00:22:23,430 I tell you, I'm going to be going a little bit longer, I don't know, a couple of year... 215 00:22:23,519 --> 00:22:32,049 I'm still going reasonably strong, but I'm getting damaged by dark, occult, evil forces. 216 00:22:32,049 --> 00:22:38,680 I'm being damaged, and I keep going. I keep going, and I 217 00:22:38,680 --> 00:22:46,480 get a lot of Christian prayer and aid, Christian aid, and they're wonderful. 218 00:22:46,589 --> 00:22:53,200 I need to call a certain lovely lady right now who's helped me a lot because I'm dealing 219 00:22:53,200 --> 00:22:56,480 with something right now on two fronts, two big costs. 220 00:22:56,480 --> 00:23:04,549 I don't want to go into the details. We need to get back to putting a four-year... 221 00:23:06,130 --> 00:23:10,000 We dropped it down to two years. How do we compete with that, Chris? 222 00:23:10,000 --> 00:23:16,789 We don't compete. Trump took some crap back in December when Elon 223 00:23:17,029 --> 00:23:23,589 Musk said, "We're going to be importing Indian talent, talent from the nation of... 224 00:23:23,589 --> 00:23:30,210 I'm not against that. If they get, what is it, an H1, or I don't know what to call 225 00:23:30,299 --> 00:23:36,119 it, H1N, or I don't know the specifics of what they're called, but it's worker visa. 226 00:23:36,119 --> 00:23:42,730 There's a story behind that story, Chris, and that's sort of the interesting little 227 00:23:42,730 --> 00:23:49,250 nuggets that I've got in my newsletter. We want India not to 228 00:23:49,250 --> 00:23:57,839 be a big science power, not to be a big AI power, not to be a big technology power. 229 00:23:57,839 --> 00:24:04,640 We want their best to come to the United States. It's going to cause a revolution 230 00:24:04,640 --> 00:24:11,569 and you're going to see it in the news. There's lots of jobs if you can become... 231 00:24:11,569 --> 00:24:19,769 in engineering, and that requires mathematics. I've got a colleague who's go... 232 00:24:20,059 --> 00:24:26,759 When we talk shop, Chris, we talk mathematics. We talk about 233 00:24:26,759 --> 00:24:34,890 positive definite symmetric matrices. We talk about ill conditioning with their... 234 00:24:34,890 --> 00:24:39,779 That's math talk with an engineer. The engineer is no mathematics. 235 00:24:39,779 --> 00:24:45,710 They don't know mathematics. They don't go anywhere. The bell shaped curve is called ... 236 00:24:45,710 --> 00:24:50,089 My colleague talks about it a lot. He showed me an article about the error function. 237 00:24:50,089 --> 00:24:58,640 I said, "That's a normal curve. That's a normal function." He said, "Yeah, we call ... 238 00:24:59,190 --> 00:25:04,700 I did something very unusual, Chris, in a quick side story. 239 00:25:04,700 --> 00:25:11,789 I got a five out of five on the Princeton Advanced Placement Calculus Test after my... 240 00:25:11,789 --> 00:25:17,869 They gave me calculus one, calculus two, and calculus three credit for my freshman year. 241 00:25:17,869 --> 00:25:20,960 I said, "I don't want credit for calculus three. 242 00:25:21,009 --> 00:25:26,859 I haven't taken that." They said, "Well, you've got a five on the Princeton Test." ... 243 00:25:26,970 --> 00:25:33,819 I haven't taken that. I want to take that course even though I have credit for it."... 244 00:25:33,849 --> 00:25:36,960 I said, "I don't care about your rules. 245 00:25:36,960 --> 00:25:44,400 I want to take calculus three. I want 3D calculus and acceleration curves and surfaces 246 00:25:44,400 --> 00:25:48,480 and integration over surfaces and polar coordinates. I haven't taken that. 247 00:25:48,480 --> 00:25:54,640 Okay." That's what I took my first semester in college, a course that I had credit for. 248 00:25:54,640 --> 00:26:01,980 We need math love. We need love of math. We don't need love of corn flakes. 249 00:26:01,980 --> 00:26:05,539 What do you call it? Corn chips and potato chips. 250 00:26:05,869 --> 00:26:11,359 We've got overweight kids who don't even have phys ed anymore. 251 00:26:11,359 --> 00:26:14,569 I love dodgeball in third and fourth, fifth grade. 252 00:26:14,650 --> 00:26:22,349 I loved it. Dodgeball. It's wild and act like a bunch of idiots and throw a nice little... 253 00:26:22,400 --> 00:26:26,730 You catch it, the other guy's out. It hits you, you're out. 254 00:26:26,730 --> 00:26:30,000 If you dodge it, you keep on going. That was a lot of fun. 255 00:26:30,000 --> 00:26:34,480 Well, the fat kids don't do that anymore, Chris. We need to get back to phys ed. 256 00:26:34,480 --> 00:26:37,519 We need to get back to science. We need to get back to math. 257 00:26:37,779 --> 00:26:40,869 That's what we need to do or else we're not going to be able to compete. 258 00:26:40,869 --> 00:26:47,430 We're going to be importing talent and they're going to be living in the good... 259 00:26:47,430 --> 00:26:56,130 math and science, you're going to be the workers who get pushed out because you... 260 00:26:56,220 --> 00:27:02,769 All right, Jim. I think we're clear on the dodgeball history and other relevant detai... 261 00:27:02,940 --> 00:27:10,250 we're just about coming up on our time, I mean, you've touched on gold and silver a... 262 00:27:10,289 --> 00:27:14,589 Obviously, we've had the spreads, the EFP spreads surge. 263 00:27:14,599 --> 00:27:21,240 We've seen lots of signs of stress. We have the Bank of England saying it takes 48 wee... 264 00:27:21,349 --> 00:27:28,200 this guy Dave Ramsey out there that I don't know how many people's concerns he settled... 265 00:27:28,460 --> 00:27:31,519 gold and silver that you would like to share here before we finish up. 266 00:27:31,599 --> 00:27:35,910 I got 47 reasons why gold's going to go up. 267 00:27:36,019 --> 00:27:40,630 I know you were only in the 20s like a month or two ago, so you were busy over Christmas. 268 00:27:40,740 --> 00:27:48,319 I actually put it together in a day and a half and my colleague said, "Jim, that's a... 269 00:27:48,480 --> 00:27:53,920 We've got trade tariffs. We've got London gold market I believe is in default. 270 00:27:53,920 --> 00:27:59,750 We've got multiple leasing. They call it rehypothecation, so you don't know what th... 271 00:27:59,900 --> 00:28:07,440 It's multiple leasing. You've got a mad scramble to replace gold in the bullion ba... 272 00:28:07,440 --> 00:28:11,599 You've got corrupt gold by the big banks, corrupt gold leasing. 273 00:28:11,819 --> 00:28:18,410 Leasing is going to be very big, multiple leasing." Do you remember in 2008 we heard... 274 00:28:18,750 --> 00:28:25,490 mortgage electronic registry system, MERS? That was to prevent and to manage 275 00:28:25,490 --> 00:28:32,369 the titles for mortgages so that only one mortgage bond had 276 00:28:32,539 --> 00:28:36,769 one secure stream of mortgage payments. Well, it was 2. 277 00:28:36,960 --> 00:28:40,630 5 average. We've got something like 10 or 15. 278 00:28:41,269 --> 00:28:48,890 You might have a better number than me. The leasing and the multiple basis is corrupt ... 279 00:28:48,970 --> 00:28:55,599 We've got a search for US government fraud. We have lost face in the fiat currency... 280 00:28:55,599 --> 00:29:01,410 They've got to be backed. We've got sovereign bonds in Europe and the United States that... 281 00:29:01,589 --> 00:29:07,440 You've got a mandatory audit of the gold reserves. You've got a risk of exposing fa... 282 00:29:07,440 --> 00:29:14,319 I think they might find some fake gold bars and make a big deal about it in Fort Knox,... 283 00:29:14,319 --> 00:29:20,359 They might lie. We have monetizing the asset side of the US government. 284 00:29:20,460 --> 00:29:27,640 We've got an acceleration of federal deficits. We've got a systemic collapse where 285 00:29:27,640 --> 00:29:32,079 people are now seeking portable wealth. We have the wealthy now, Chris. 286 00:29:32,079 --> 00:29:35,180 You know this better than me. You know the gold market better than me. 287 00:29:35,180 --> 00:29:42,869 We have the wealthy scrambling to get the gold because they're afraid that the banks... 288 00:29:43,069 --> 00:29:50,160 This is going to get wild. It's not just the audit of Fort Knox that's caused this. 289 00:29:50,400 --> 00:29:57,200 It's the big bank insolvency. It's a rejection to the Treasury bill by the BRIC... 290 00:29:57,269 --> 00:30:00,960 They don't like the Treasury bill for trade payment. They want something real. 291 00:30:00,960 --> 00:30:09,000 They don't want toilet paper think President Trump needs a short 292 00:30:09,000 --> 00:30:19,000 education on what legitimate currency is all about and how he needs to stop weaponizing... 293 00:30:19,000 --> 00:30:24,559 . He has not stopped the weaponization of the dollar. 294 00:30:25,279 --> 00:30:33,009 And it's sad. I got only down to about 8 or 10 of the reasons. 295 00:30:33,009 --> 00:30:39,000 I have 47 of them. I bet you could get to 50 by the weekend. 296 00:30:39,279 --> 00:30:47,000 The trouble is that they really look like number 22 and they look like number 19. 297 00:30:47,279 --> 00:30:53,210 They overlap, Chris. No doubt they overlap. And Hollywood is saying, "Got silver? 298 00:30:53,210 --> 00:31:00,099 I can see it right behind you." That's Hollywood. They're wondering, "We've got a... 299 00:31:00,109 --> 00:31:06,970 in industry and this is not going to last much longer." I want to see an explosion i... 300 00:31:06,970 --> 00:31:15,000 gold market, a revaluation, and then silver follows in the next two or three weeks. 301 00:31:15,279 --> 00:31:21,000 There's no way. I'm very surprised that we're not above 40 right now in silver. 302 00:31:21,259 --> 00:31:26,000 They're just doubling down and then doubling down again on their corrupt naked shorts. 303 00:31:26,180 --> 00:31:31,000 You know this better than I do, but they're running out. The deliveries are out of thi... 304 00:31:31,000 --> 00:31:34,950 They're like four times multiple of what happened in January. 305 00:31:35,269 --> 00:31:42,000 That was the result of February. We had the first day delivery in March that set a rec... 306 00:31:42,180 --> 00:31:46,970 it's on pace for being multiples of what February was. 307 00:31:47,230 --> 00:31:50,990 This is exciting. We're about to break the gold and silver markets. 308 00:31:50,990 --> 00:31:59,000 We're about to break it. In Trump's tariff talk, he never said England will have a... 309 00:31:59,000 --> 00:32:05,680 He never said that. That's a false premise for the gold leaving London 310 00:32:05,680 --> 00:32:13,990 and coming to the New York sites and vaults. He never said he's going to put a slap of... 311 00:32:13,990 --> 00:32:23,000 He never said that. You don't put a tariff on the British crown. 312 00:32:23,279 --> 00:32:31,000 This is going to be exciting. I am really jazzed at what's coming up in the next... 313 00:32:31,279 --> 00:32:36,559 What else can I say? Go down the list here. 314 00:32:37,279 --> 00:32:44,000 That's too big. The silver industrial demand shortage is annual. 315 00:32:44,180 --> 00:32:49,000 Silver is the Achilles heel. We're going to have a silver cartel. 316 00:32:49,000 --> 00:32:54,000 I'm pretty sure about it. Let's look at the war of words with Mexico. 317 00:32:54,000 --> 00:32:58,000 They're going to just block all exports of silver. They're going to make it a nationa... 318 00:32:58,000 --> 00:33:01,000 They're going to make a national stockpile in silver. 319 00:33:01,279 --> 00:33:06,000 Mexico, China, and Russia, they're likely to make a silver cartel. 320 00:33:06,279 --> 00:33:12,000 Can you imagine the equivalent of OPEC for oil is going to be in silver? 321 00:33:12,279 --> 00:33:18,779 Well, limit the supply of silver so we can drive it up past $50 to screw you Westerne... 322 00:33:18,859 --> 00:33:26,549 playing with the price games. Oh my gosh. Read all about it in the newsletter,... 323 00:33:27,000 --> 00:33:32,000 com. Going great guns, but there's economic damage, Chris. 324 00:33:32,279 --> 00:33:38,960 Some of my clients are hurting. One spouse has lost a job or they're underem 325 00:33:38,960 --> 00:33:44,000 ployed because they refuse the vaccine. Their costs are going through the roof. 326 00:33:44,000 --> 00:33:47,950 They've got double and triple the fire insurance for their homes. 327 00:33:48,259 --> 00:33:54,990 Car insurance is much more expensive. If you're wondering why car insurance and hom... 328 00:33:54,990 --> 00:33:58,990 , it's because for 10 years they didn't make any money on the treasury bonds. 329 00:33:59,279 --> 00:34:05,819 That's their nut. That applies to pension firms. There's the website in 330 00:34:05,819 --> 00:34:12,409 the yellow in the center is the subscribe button. There are a lot of people who don't 331 00:34:12,409 --> 00:34:19,750 want to read a 40-page report every month. Oh, come on now. 332 00:34:20,199 --> 00:34:26,000 Well, there are some. They don't want it. They don't have time. They tell me that. T... 333 00:34:26,099 --> 00:34:34,000 It's because I watched several of your shows and I don't want to sign up for the... 334 00:34:34,070 --> 00:34:40,000 I love that. That's great. There's a guy who just yesterday did $100 and he does it eve... 335 00:34:40,250 --> 00:34:45,949 And that's not the cost of a newsletter. It's $200 for a year, $220. 336 00:34:46,280 --> 00:34:51,000 These are exciting times. I've got time now for consulting. 337 00:34:51,070 --> 00:34:54,989 I have two or three that I need to do in the next couple of days. 338 00:34:55,260 --> 00:35:03,000 They said, "Wait for your February newsletter to get done and then we'll contact each ot... 339 00:35:03,000 --> 00:35:09,550 So I'm going to do that. I did It was a really interesting lady who had stories an... 340 00:35:09,849 --> 00:35:14,000 about XRP, but she had stories. Oh, my gosh, Chris, I'll tell you offline. 341 00:35:14,000 --> 00:35:20,989 I won't tell you here. It's a beautiful lady when she was younger and did not get trapped. 342 00:35:21,280 --> 00:35:30,000 She did not get trapped and you know what? So go to the website, sign up for the... 343 00:35:30,210 --> 00:35:34,000 And if you're wealthy, hit the sponsor button. I'm always grateful. 344 00:35:34,000 --> 00:35:38,769 I've got a few people who regularly hit the sponsor button and it keeps me going. 345 00:35:39,280 --> 00:35:47,000 Chris, I tell you, the hand of the Lord Jesus, I tell you, without it I'd be gone... 346 00:35:47,099 --> 00:35:56,000 I'd be gone. I've got a number of people who helped me in a big way, including an... 347 00:35:56,099 --> 00:36:01,929 He doesn't want me to mention his name, but how many of them are there? And I'm not... 348 00:36:01,929 --> 00:36:09,000 He helped me in a big way in 2019. I'm very grateful to him, the rest of my life. 349 00:36:09,070 --> 00:36:12,989 I'm talking about nearly a $100,000 grant. 350 00:36:13,090 --> 00:36:16,989 I hope this helps you, Jim, to get out of the bind. 351 00:36:17,280 --> 00:36:24,329 Anyway, it's a long story. We're going to see silver rule 352 00:36:24,429 --> 00:36:30,980 the roost in industry, while gold rules the roost in financial 353 00:36:30,980 --> 00:36:36,989 functions. Chris, I haven't been this excited in a long time. 354 00:36:37,179 --> 00:36:42,000 It's like a rejuvenation that happened with the Trump election. 355 00:36:42,280 --> 00:36:49,000 Here's my little statement for all the people who are objecting to Trump. 356 00:36:49,280 --> 00:36:58,000 All traders, please rise. Please rise to be counted. 357 00:36:58,000 --> 00:37:04,809 All traders. If you don't want the reconstruction of the 358 00:37:04,809 --> 00:37:11,329 United States and you don't want legitimate money, and you're all in favor of financia... 359 00:37:11,340 --> 00:37:16,000 Swiss, Uber Lords, and the Ukraine, please rise. 360 00:37:16,000 --> 00:37:23,559 We want you to be counted. And now it's, if you object to the Epstein files, please rise. 361 00:37:24,280 --> 00:37:30,000 You and the FBI, they just fired a New York office FBI guy named Dennehy. 362 00:37:30,099 --> 00:37:36,000 It looks like he worked out. It looks like he was, you know, he went to the FBI gymnasium. 363 00:37:36,280 --> 00:37:42,940 Rather frequently. Well, he's gone because he stood up to be 364 00:37:43,179 --> 00:37:48,000 counted in objecting to releasing the Epstein file. This is going to go on. 365 00:37:48,000 --> 00:37:52,000 People are losing patience with the Trump people, and I tell them be patient. 366 00:37:52,099 --> 00:37:57,780 Be patient. More patient. The Epstein files are going to take six months to get out. 367 00:37:58,099 --> 00:38:06,000 It's going to be drips and drabs. Right now they're talking about, you know, the batch... 368 00:38:06,260 --> 00:38:11,000 Okay, Chris, this is exciting. It's going to have a lot of parts to it. 369 00:38:11,190 --> 00:38:17,000 And we're going to have a reconstruction of the U.S. economy, and we need five or six... 370 00:38:17,059 --> 00:38:20,739 I hit on some of them, and I talk about all of them in the newsletter. 371 00:38:21,280 --> 00:38:26,849 And this is a labor of love, Chris. Once I get going, I have trouble. 372 00:38:27,070 --> 00:38:31,690 I end up working once till close to midnight, and I usually go to bed at 10 p. 373 00:38:31,699 --> 00:38:37,000 m. I go to bed at 10 p.m. 10 to 6, 10 to 530. 374 00:38:37,099 --> 00:38:43,880 I catch the sunrise. It's 530 here. Well, Jim, I sure appreciate 375 00:38:43,880 --> 00:38:50,739 that you're up there every day doing your thing. It was nice to hear what you mentio... 376 00:38:50,989 --> 00:38:57,539 have been able to help you out along the way. And I hope you realize how loved you are b... 377 00:38:58,170 --> 00:39:05,000 people on this planet. So I won't make you answer that, but there are a lot of people... 378 00:39:05,070 --> 00:39:11,690 I'm glad helping in some ways to get you through. And I'll just mention one more ti... 379 00:39:11,690 --> 00:39:18,000 of this is at golden-jackass.com, which is in the description field right there below. 380 00:39:18,099 --> 00:39:24,739 So you don't have to type the darn thing. Just go there and click it. And, Jim, it... 381 00:39:24,949 --> 00:39:31,559 're a February newsletter. But he's already announced that energy 382 00:39:31,800 --> 00:39:38,000 products are not subject to tariff. And I don't know if that applies to Canada. 383 00:39:38,099 --> 00:39:43,000 We've got a lot of things going on. I'm very excited about the gold market. 384 00:39:43,099 --> 00:39:48,000 I think we're in the midst of a default in London. 385 00:39:48,099 --> 00:39:53,000 I got a yield to you, and I mean this in a very complimentary, respectful way. 386 00:39:53,059 --> 00:39:59,000 I don't imagine I can tell you much of anything that you don't already know in th... 387 00:39:59,280 --> 00:40:03,000 But what I can -- Come on now, this young buck. 388 00:40:03,099 --> 00:40:08,000 No, I'm just picking my notebook up to the great doctor. 389 00:40:08,280 --> 00:40:15,019 Let me qualify what I mean by that. What I mean by that is what I might be 390 00:40:15,030 --> 00:40:21,559 able to add to your current greater knowledge in the gold and silver market is ex 391 00:40:21,570 --> 00:40:28,250 ogenous factors that are coming in to play. I noted 47 392 00:40:28,309 --> 00:40:34,000 factors that are aiding the gold market, gold and silver. 393 00:40:34,280 --> 00:40:40,000 And I put that in the February report that was posted last Friday. 394 00:40:40,099 --> 00:40:46,650 I've never posted since 2003 that many reasons. I had 395 00:40:46,650 --> 00:40:51,550 25 -- one article I wrote, it was with goldeagle. 396 00:40:52,000 --> 00:40:57,000 com. It was back in 2003, a year before the newsletter was launched. 397 00:40:57,070 --> 00:41:02,000 I was just a young buck, and I realized these economists are pretty stupid. 398 00:41:02,269 --> 00:41:07,000 They work for banks, they work for the government, they're corrupt to the left,... 399 00:41:07,219 --> 00:41:11,000 They don't know what the hell is going on. They're misrepresenting the gold market. 400 00:41:11,239 --> 00:41:16,000 And I wrote 25 reasons why gold will rise. And it did in the next three or four years. 401 00:41:16,280 --> 00:41:21,949 Well, now it's like, here's 47 reasons, and that's kind of a magic number with Trump. 402 00:41:22,280 --> 00:41:27,000 Here's 47 reasons why gold is going to go to 5,000. 403 00:41:27,280 --> 00:41:34,000 And it's coming. And we're going to get -- oh, gosh, when they break the silver marke... 404 00:41:34,050 --> 00:41:39,000 I don't know when it's going to happen. I just know that it's going to happen. 405 00:41:39,230 --> 00:41:43,000 And when they do, you're going to see Fibonacci playing music. 406 00:41:43,280 --> 00:41:49,000 10, 20, 30, 50, 80. And I have a joke that I give to people. 407 00:41:49,059 --> 00:41:54,570 I say 10, 20, 30, 50, 80. What's next? 408 00:41:55,250 --> 00:42:00,000 Hey, Jim, just since you -- It's 130! It's 130! 409 00:42:00,280 --> 00:42:07,309 Thank you for that. Just since you mentioned it, you were saying there about how you se... 410 00:42:07,309 --> 00:42:13,989 of inevitability. Did you happen to see that call I did with Rick Rule? 411 00:42:14,070 --> 00:42:21,000 I think it was back in December, who was involved with the PSLV Trust during silver... 412 00:42:21,199 --> 00:42:27,000 And so certainly some close access to the market. He talked about how he's like, we... 413 00:42:27,280 --> 00:42:30,989 Then we cleared out New York, then Nova Scotia, Ottawa. 414 00:42:31,210 --> 00:42:37,730 But the takeaway that really stood out to me is that after all he's seen and someone wi... 415 00:42:37,730 --> 00:42:45,000 , he also said that a fracture between the paper and physical markets remains to him ... 416 00:42:45,079 --> 00:42:48,989 I'll send that to you later. I think you'd find it pretty intriguing. 417 00:42:49,099 --> 00:42:52,690 I got a quick story to tell you about Rick Rule. 418 00:42:53,280 --> 00:43:02,000 And this is funny. It's not meant in any way to be stupid or insulting or anything like... 419 00:43:02,179 --> 00:43:09,000 It was about the second or third conference that I went to in the Cambridge House in... 420 00:43:09,250 --> 00:43:14,579 And I went early to the Speaker's Dinner. It was 2006. 421 00:43:15,070 --> 00:43:21,000 I went early to the Speaker's Dinner and I was the first guy there because I didn't w... 422 00:43:21,179 --> 00:43:29,000 I was new at this. It was my second year of the newsletter, actually two and a half ye... 423 00:43:29,239 --> 00:43:36,019 And I got there and I was the only one there. So I was minding my own business reading a... 424 00:43:36,019 --> 00:43:41,000 guy walked in and it was Rick Rule, but I didn't recognize him. 425 00:43:41,280 --> 00:43:44,690 And I said, hi, I guess we're early. 426 00:43:45,280 --> 00:43:53,000 And he recognized immediately that I didn't recognize him and he was really modest abo... 427 00:43:53,280 --> 00:44:02,000 And he said, you're Jim Willey. And I said, yeah, I just started a newsletter a couple... 428 00:44:02,099 --> 00:44:06,000 So I came early so I wouldn't get lost. I don't know Vancouver very well. 429 00:44:06,039 --> 00:44:10,750 I said, what's your name? He said, Rick, just Rick. 430 00:44:11,079 --> 00:44:14,780 I knew who Rick Rule was, but I didn't recognize him. 431 00:44:15,190 --> 00:44:21,000 So we're talking away. We're talking for 20 minutes and other people come in and he sa... 432 00:44:21,280 --> 00:44:28,110 Good luck. He was probably the nicest, most encouraging person 433 00:44:28,179 --> 00:44:33,000 at the conferences in the next two years. I was there for four years. 434 00:44:33,099 --> 00:44:39,989 I did 15 conferences. And he told me once, Jim, you bring a different angle to this. 435 00:44:40,070 --> 00:44:43,989 I know you're a statistical guy, but you bring in different angle. 436 00:44:44,199 --> 00:44:48,000 You bring in currency, economy. That's what I try to do, the exogenous factors. 437 00:44:48,179 --> 00:44:52,000 And he said, you're entertaining. Don't lose that. Don't lose that. 438 00:44:52,260 --> 00:44:55,690 And I said, no, no, I don't think I could if I tried. 439 00:44:56,199 --> 00:45:04,000 And we laughed and he walked away. It took me 24 hours to learn that that was Rick Rule. 440 00:45:04,190 --> 00:45:09,780 It was a friend of mine. I said, yeah, there's a guy I met at the dinner last night. 441 00:45:10,099 --> 00:45:14,000 His name was Rick. He said, Jim, that's Rick Rule. What? 442 00:45:14,280 --> 00:45:20,000 Okay. Pretty funny. It was funny. Very, you know, I was naive. 443 00:45:20,099 --> 00:45:26,710 I didn't know people. I met Bill Murphy. Bill Murphy was 444 00:45:26,809 --> 00:45:32,739 with me in Munich when I get the death threat. Bill Murphy was really nice to me,... 445 00:45:33,079 --> 00:45:36,690 I mean, he held my arm and offered me a glass of wine. 446 00:45:37,070 --> 00:45:42,000 I said, no, pineapple juice would be fine. But I would chittery. 447 00:45:42,099 --> 00:45:50,000 I would chittery all day that, oh, that November day in 2006 in Munich, a death... 448 00:45:50,280 --> 00:45:55,000 Yeah. Well, look at how you've overcome, which is obviously the important thing. 449 00:45:55,230 --> 00:46:02,000 And, you know, going back to 2003, I guess that was before had your cult-like fan sta... 450 00:46:02,210 --> 00:46:08,969 So I'm glad you got to meet Rick. And Jim, if I could take one more question about... 451 00:46:08,969 --> 00:46:15,750 , you were talking about the technology aspect. I'm curious, have you heard much... 452 00:46:16,269 --> 00:46:21,250 has developed, the new, more powerful EV battery that I it was like 2. 453 00:46:21,309 --> 00:46:27,000 2 pounds of silver? So substantially more. It's interesting. 454 00:46:27,059 --> 00:46:33,739 I did read that it's not just, well, they're making it and thinking about it now, but t... 455 00:46:33,989 --> 00:46:40,539 where other companies are using it. I've seen the numbers, if 10 or 20 percent of 456 00:46:40,539 --> 00:46:47,190 the EV market adopts it and the size of the EV market stays the same or bigger, it wou... 457 00:46:47,190 --> 00:46:52,000 it looks like it could come out to a couple hundred more, million more ounces of silver. 458 00:46:52,059 --> 00:46:57,000 I would love to know if you had any thoughts on that one. I actually wrote about that. 459 00:46:57,099 --> 00:47:03,739 It was honestly about six or eight months ago, and I cannot remember all the details... 460 00:47:04,280 --> 00:47:10,989 specifications. Its performance was very, very, very impressive. 461 00:47:11,230 --> 00:47:15,000 And I remember back then, I think it was about last summer. 462 00:47:15,190 --> 00:47:21,940 It was in the newsletter, mid-2024. And as I recall, they said in 463 00:47:21,940 --> 00:47:29,000 their own specifications and their own rollout plans that it was two years away. 464 00:47:29,210 --> 00:47:35,000 And I thought, well, you know, the market has a way of that a little faster when there's... 465 00:47:35,280 --> 00:47:40,000 People will work overtime and they'll just get more partnerships and they'll get it... 466 00:47:40,090 --> 00:47:46,760 I tend to think that we're going to see a revolutionary break with more advanced 467 00:47:46,760 --> 00:47:51,000 batteries, but we're also going to see the fuel cell. 468 00:47:51,210 --> 00:47:58,550 We're going to see hydrogen and oxygen brought together and making very powerful 469 00:47:58,670 --> 00:48:04,000 cars with water emissions. This is going to be really interesting. 470 00:48:04,269 --> 00:48:07,989 And Silver will be a big player in the fuel cell car. 471 00:48:08,280 --> 00:48:16,849 And you know, Samsung is an up-and-coming powerhouse, but I've got to tell you, it's... 472 00:48:17,179 --> 00:48:26,000 It's going to be Toyota. They've already got -- oh, gosh, see if I can get this Okay. 473 00:48:26,000 --> 00:48:35,000 Now, methane is NH3. Nitrogen is three hydrogens. 474 00:48:35,199 --> 00:48:41,739 And I've been wondering for the last five to ten years, how are they going to deliver t... 475 00:48:41,989 --> 00:48:49,000 , for an engine, without having a tank that would blow up the block if there's a car... 476 00:48:49,280 --> 00:48:55,000 And the answer is ammonia. Oh, gosh. Did I say methane? 477 00:48:55,099 --> 00:48:59,579 I didn't. I'm sorry. I misspoke. It's not methane. It's ammonia. 478 00:49:00,219 --> 00:49:06,750 Ammonia has a lot of hydrogen. And what Toyota has done is they built a turbo engine 479 00:49:07,280 --> 00:49:12,000 with water mixed with ammonia, and that delivers the hydrogen. 480 00:49:12,269 --> 00:49:18,690 So it's an ammonia tank. And I can't remember -- I know methane. 481 00:49:19,190 --> 00:49:23,000 No, ammonia is NH3. I'm sorry. I'm sorry. 482 00:49:23,000 --> 00:49:28,000 Methane is CH. Oh, gosh. It's been a long time since chemistry. 483 00:49:28,099 --> 00:49:32,630 My advanced place with chemistry senior year in high school. Okay. 484 00:49:32,630 --> 00:49:37,000 Methane is, I think, CH4, carbon, hydrogen. 485 00:49:37,280 --> 00:49:44,750 Could you check? I think it's CH4. And ammonia is NH3. 486 00:49:45,280 --> 00:49:51,000 The key to Toyota -- CH4. You are correct. 487 00:49:51,280 --> 00:49:57,989 Okay. Ammonia NH3. It's been a 488 00:49:57,989 --> 00:50:04,710 long time, my God. I'm talking -- I'm talking 50 -- 53 489 00:50:04,820 --> 00:50:10,000 years since high school grad. Long in the tooth, huh? 490 00:50:10,280 --> 00:50:19,000 All right. Chris, Toyota's got turbocharged methane supply of hydrogen. 491 00:50:19,280 --> 00:50:26,989 And in their prototype, their only complaint was, this thing is zero to 60 in, you know... 492 00:50:27,280 --> 00:50:32,000 That was their complaint. Zero to 60 in 30 to 40 seconds. 493 00:50:32,099 --> 00:50:38,000 And then they said, well, let's turbo this. And they did, and they got some really goo... 494 00:50:38,280 --> 00:50:42,000 Toyota's going to be leader in the class. And we better get in line. 495 00:50:42,099 --> 00:50:47,000 We better get Toyota building cars in the United States and sharing the technology. 496 00:50:47,179 --> 00:50:51,000 And you know what they're going to do? They're going to share treasury bonds. 497 00:50:51,280 --> 00:50:56,000 They're going to do plant and equipment. It's debt for equity. 498 00:50:56,179 --> 00:51:02,710 You're probably all over this, too. The Department of Treasury is going to issue... 499 00:51:02,820 --> 00:51:09,760 for treasury bonds submitted. And the credits are going to be good for plant and equipme... 500 00:51:09,760 --> 00:51:18,000 , you know, land purchases, you name it. And this is how we're going to get... 501 00:51:18,179 --> 00:51:22,000 This took 30 years. This took 40 years. I remember this. 502 00:51:22,280 --> 00:51:25,739 This is a very seminal important event in my life. 503 00:51:26,099 --> 00:51:32,949 It was autumn of '84. And it was my buddy, my buddy John, my buddy Bob, my boss 504 00:51:32,949 --> 00:51:39,449 Jack and me in my office talking about a Wall Street Journal article about chip 505 00:51:39,449 --> 00:51:45,000 fabrication plants being sent to the Pacific Rim. And we joked. 506 00:51:45,280 --> 00:51:51,000 And we said, well, you know, those little Asian women, they've got small hands. 507 00:51:51,280 --> 00:51:56,929 They can do all that chip work. That's the joke. The reality is that we got bankrupted. 508 00:51:57,099 --> 00:52:04,000 I said to John, Bob, and Jack, you know, three or four or five years, we're going t... 509 00:52:04,260 --> 00:52:08,000 That was Black Monday in '87. So it was three years later. 510 00:52:08,210 --> 00:52:15,690 We're going to have a return of manufacturing and return of industry, Chris, and it's... 511 00:52:16,280 --> 00:52:19,690 But the hard part is how it's going to happen. 512 00:52:20,210 --> 00:52:29,000 It's not an easy matter to convert treasury bonds into plant and equipment for product... 513 00:52:29,280 --> 00:52:34,000 And it's going to be loaded with AI. And I'm a little bit fearful of AI. 514 00:52:34,079 --> 00:52:40,900 I don't really care to discuss it too much. But Trump is using tariffs 515 00:52:42,170 --> 00:52:50,690 to get agreements and watch the agreements that Canada makes because they already... 516 00:52:51,099 --> 00:52:56,000 You know, fentanyls are. It's not fentanyl, you people. It's fentanyl with a Y. 517 00:52:56,280 --> 00:53:02,869 Canada created a fentanyl czar and then kind of removed all the power 518 00:53:02,869 --> 00:53:09,000 from that office so there's no fentanyl enforcement across the Canadian border. 519 00:53:09,280 --> 00:53:17,000 Remember, China got flooded by opium 120, 30 years ago, whatever. 520 00:53:17,239 --> 00:53:23,000 We're getting flooded by fentanyl and cocaine, our nation. 521 00:53:23,280 --> 00:53:32,000 And it is doing severe damage to our society. I've already had two consult calls and the... 522 00:53:32,210 --> 00:53:36,989 They're each women. And each one had a daughter who was killed by fentanyl. 523 00:53:37,219 --> 00:53:42,000 So except for that, I haven't heard of any deaths. 524 00:53:42,070 --> 00:53:50,000 I know that there are deaths. Okay, watch Canada comply with whatever Trump is arguing. 525 00:53:50,280 --> 00:53:57,239 And he's going to want to turn on the energy spigot in to make 526 00:53:57,239 --> 00:54:05,000 gasoline, diesel, and just gas supply, make it cheaper. 527 00:54:05,099 --> 00:54:10,000 He's going to want lower fuel and lower cost electricity. 528 00:54:10,079 --> 00:54:15,000 I learned a long time ago. I'm a self-taught economist. 529 00:54:15,280 --> 00:54:20,000 And I have a saying in my bio from a way back. 530 00:54:20,059 --> 00:54:25,000 I'm unencumbered by the limitations of economics credentials. 531 00:54:25,280 --> 00:54:30,000 Okay, there are two major factors for an economy to lower prices. 532 00:54:30,260 --> 00:54:37,000 It's interest rates and the cost of energy. So you have the advantage. 533 00:54:37,190 --> 00:54:42,000 You didn't sit through Jeremy Segal's class at Wharton. You didn't get nailed with tha... 534 00:54:42,269 --> 00:54:47,000 No, no, I caught a little bit of him on CNBC. 535 00:54:47,099 --> 00:54:51,929 And I thought, well, you know, he makes some sense. But when he talks about Keynesian,... 536 00:54:52,099 --> 00:54:57,000 He was my teacher back in 2004. That was when I was in business school. 537 00:54:57,099 --> 00:55:03,869 And I'm, you know, going down there thinking just pay try and learn something. And he's... 538 00:55:03,900 --> 00:55:10,000 know, so right in line with a lot of the other stuff that you hear out there in Wal... 539 00:55:10,280 --> 00:55:17,929 Well, the Keynesian line. And you know what's really tragic is that John Maynard Keynes ... 540 00:55:18,099 --> 00:55:24,869 He believed in paying down debt during the expansion years. And we didn't because we... 541 00:55:24,900 --> 00:55:31,559 they called the social welfare net. So with social welfare net and 542 00:55:31,800 --> 00:55:38,849 war, we had a big deficit in good times. That's not what Keynes advocated. 543 00:55:39,099 --> 00:55:45,690 He didn't advocate big government either. Anyway, that is one name that's been bastard 544 00:55:45,789 --> 00:55:52,000 ized and really butchered in the economic textbooks. And it's really quite sad. 545 00:55:52,210 --> 00:56:00,000 Keynes made a lot of good sense. Now, if you're a household, move from macro to mic... 546 00:56:00,099 --> 00:56:06,829 If you're a household and you're unemployed and you're undergoing worker training and... 547 00:56:06,829 --> 00:56:13,460 is just graduated from college and he's still living at home and he's about ready to get... 548 00:56:13,460 --> 00:56:20,199 go into debt a little bit and then you get a job and your son gets a job and everything... 549 00:56:20,199 --> 00:56:25,000 your debt in the next year and a half and you're moving. You're moving in a good gear. 550 00:56:25,250 --> 00:56:30,000 That's not the way the United States has treated debt. We went to war. 551 00:56:30,099 --> 00:56:37,000 I think, you know, it's not a real mystery. We broke the gold standard because of the... 552 00:56:37,230 --> 00:56:43,739 And the Vietnam War happened before your time, before, you know, when you were... 553 00:56:43,989 --> 00:56:50,690 , a young man graduating in college and all that. I was in the 1971 draft 554 00:56:50,889 --> 00:56:58,000 lottery for Vietnam. 1971. I was 19. 555 00:56:58,280 --> 00:57:04,000 And I got a Pennsylvania 218 lottery number. I only went up to 160. 556 00:57:04,280 --> 00:57:08,809 And I'm out. I dropped my one-ass deferment. 557 00:57:09,079 --> 00:57:12,989 I figured they'll never get the 218, those assholes. 558 00:57:13,179 --> 00:57:17,000 And they didn't. And I'm out. Okay. 559 00:57:17,280 --> 00:57:25,000 Vietnam almost got me. Okay. And I learned about Vietnam's Cambodia Triangle a lot... 560 00:57:25,000 --> 00:57:32,000 than most other people. Because I knew people who went to Vietnam back and told me about... 561 00:57:32,280 --> 00:57:40,000 Anyway, go ahead. Well, I can quite imagine what that was like. 562 00:57:40,280 --> 00:57:46,000 Although Jim, just perhaps bringing some of the things you earlier back to, you know, ... 563 00:57:46,280 --> 00:57:53,480 What can I say? No, me too. You were talking about some of the things that Cain said an... 564 00:57:53,480 --> 00:57:58,000 on what Trump is doing now. I'm of the school of thought. 565 00:57:58,210 --> 00:58:02,000 But I do much agree with what I hear Luke Roman say that there's an order of... 566 00:58:02,250 --> 00:58:07,000 You can do doge, but you need an evaluation of the dollar first. 567 00:58:07,280 --> 00:58:14,369 If you do the cuts and you lose that GDP, unfortunately, the waiver set up now, it w... 568 00:58:14,369 --> 00:58:21,000 , 24% of GDP is coming from government spending. So it's like on one hand, yeah,... 569 00:58:21,059 --> 00:58:26,000 I think everybody's on board with that. Although the body's so weak and fragile now. 570 00:58:26,280 --> 00:58:31,929 Luke talks a lot about how that can work, but the dollar has to be devalued lower. 571 00:58:32,280 --> 00:58:39,000 Obviously, we're hearing about a Fort Knox audit. Scott Besin had his comments of, I'... 572 00:58:39,000 --> 00:58:47,000 , monetizing the assets on the US balance sheet. He has since come out and said that... 573 00:58:47,280 --> 00:58:54,000 Maybe that's the case. Sometimes government officials say things that, you know, until... 574 00:58:54,280 --> 00:59:01,000 But do you think that just the way it's being ruled out, or do you think this will work? 575 00:59:01,280 --> 00:59:10,000 From the Austrian school, there's a lot of concern that, gee, this is like on hand,... 576 00:59:10,099 --> 00:59:13,989 So I'm sure the audience would love to hear about any of that. 577 00:59:14,280 --> 00:59:19,000 Chris, we need multiple things, multiple factors at the same time in big change. 578 00:59:19,280 --> 00:59:26,000 Multiple factors. You can't just say, well, we need a cheaper dollar than Doge with al... 579 00:59:26,000 --> 00:59:29,000 That'll make everything fine. Now, we need foreign direct investment. 580 00:59:29,179 --> 00:59:37,000 We need more oil supply. We need lower price for gasoline, diesel for the entire... 581 00:59:37,179 --> 00:59:42,000 We need incentives for the supply chain to overcome the damage of the lockdown. 582 00:59:42,280 --> 00:59:49,000 The lockdown really harmed the supply chain. That's where we got a lot of price inflation. 583 00:59:49,210 --> 00:59:56,199 We need encouragement for the supply chain. We need foreign direct investment in 584 00:59:56,280 --> 01:00:02,000 the hundreds of billions per year with fast track. Fast track. 585 01:00:02,099 --> 01:00:07,869 We need to get within a year even if it's just low-grade product We need to get it... 586 01:00:07,869 --> 01:00:14,659 Of course. Yes, we need a cheaper dollar, but it's going to be very difficult I tell you... 587 01:00:14,659 --> 01:00:23,789 starting to get in a very real way my forecast from 2015 588 01:00:24,239 --> 01:00:30,869 2016 and 17 the dollar is going to rise rise then rise some more before it vanishes... 589 01:00:30,869 --> 01:00:37,510 gonna have to reduce the dollar somehow Chris When everything is pushing it 590 01:00:37,510 --> 01:00:41,639 up Jim, can I can I share what I personally think is gonna happen? 591 01:00:42,039 --> 01:00:49,369 Sure, I'm gonna pull up a forecast. I don't think anyone can argue with this, but let'... 592 01:00:49,440 --> 01:00:56,449 you're describing it seems similar dynamics to which means I need to rate height and r... 593 01:00:56,449 --> 01:01:02,619 need a rate height and a rate cut Jim that is one of my favorite moments of you. 594 01:01:02,619 --> 01:01:09,480 I send that to friends regularly and it makes people smile That I think we need to turn... 595 01:01:09,579 --> 01:01:16,190 But it's like what you're describing is similar to what you said there though wher... 596 01:01:16,739 --> 01:01:23,750 months ago superstar Well, but it's like that's the position so much of this feels... 597 01:01:23,900 --> 01:01:30,400 We cut spending and and raise it at the same time then we'll be good Well, we need we n... 598 01:01:30,519 --> 01:01:37,360 you know, I was just talking in a consult call with a client a few days ago and and ... 599 01:01:37,360 --> 01:01:43,630 me When you started the newsletter, how did you develop your clientele in the first year? 600 01:01:43,739 --> 01:01:49,599 And I said I wrote a very interesting three-part series with Gold Eagle, etc. 601 01:01:49,719 --> 01:01:56,449 That was before before Kitco Kitco got on board with with 602 01:01:56,449 --> 01:02:03,559 my work in about 2007 or six But I wrote an article is called asked backward economics 603 01:02:03,559 --> 01:02:08,440 part one two and three Lower interest rates are not stimulative. 604 01:02:08,440 --> 01:02:15,030 They're not They're not retirees have less spending Insurance companies have 605 01:02:15,039 --> 01:02:21,659 less money income pension companies have less income and they all have big payouts Why d... 606 01:02:21,659 --> 01:02:26,599 we're getting a big rise in insurance costs for home home protection for fire and hazard? 607 01:02:27,000 --> 01:02:34,000 Because of ten years of low interest rates not stimulative at all Okay 608 01:02:34,099 --> 01:02:40,949 We need to see higher interest rates to Bring reality to the table 609 01:02:41,019 --> 01:02:47,599 regarding 36 37 trillion dollars of U.S. Government debt, you know, 610 01:02:47,599 --> 01:02:54,480 the very tragic thing right now regarding your government debt Is it we don't know i... 611 01:02:54,480 --> 01:03:01,539 because next month it might go up another trillion Are we gonna see a restructure on... 612 01:03:01,659 --> 01:03:09,079 I I'd like to get to the restructure after I talked about the more accurate 613 01:03:09,139 --> 01:03:15,420 accounting I think we're gonna get a verification of what the debt is and it's... 614 01:03:15,519 --> 01:03:22,510 I Think we're gonna have a restructure of the debt. I think we're gonna probably see som... 615 01:03:22,699 --> 01:03:29,380 It's not gonna be I Really honestly, there's a really good argument that it could be 616 01:03:29,380 --> 01:03:36,110 like 15 or 20 thousand for gold There's a good argument for that, but it's not gonna... 617 01:03:36,110 --> 01:03:42,739 than a quarter of the debt okay, well, I Have a firm 618 01:03:43,349 --> 01:03:50,000 belief based on a hint from an Intel source a military Intel source It's a really 619 01:03:50,590 --> 01:03:57,579 firm hint from a couple months ago the Trump is gonna have a fumble on restruct 620 01:03:57,579 --> 01:04:03,960 uring the debt and What not what do you call it a reform a reform of the dollar? 621 01:04:03,960 --> 01:04:10,599 He's gonna have a fumble He's gonna be arrogant and he's gonna think he has it al... 622 01:04:10,599 --> 01:04:15,000 is gonna fall on his face and then we start stage two. 623 01:04:15,110 --> 01:04:18,239 Well, that didn't work What are we gonna do now? 624 01:04:18,639 --> 01:04:21,940 Okay, you can't have a 30-year problem. 625 01:04:21,940 --> 01:04:28,449 It's actually 50 years the first trillion was, you know, right after at the end of m... 626 01:04:28,449 --> 01:04:35,460 days 1973 The first trillion was Vietnam and it just ramped 627 01:04:35,460 --> 01:04:42,110 up It's been doubling over every eight-year period now when we had those eight-year... 628 01:04:42,170 --> 01:04:45,599 the narco presidents Okay, I'd like to tell some something. 629 01:04:45,599 --> 01:04:52,280 I'd like to say something We're needing to recover now from 30 years of narcotics pres 630 01:04:52,280 --> 01:04:59,119 idencies Papa Bush Clinton Baby Bush Obama and the Biden show 631 01:04:59,179 --> 01:05:03,219 because he was dead Biden was dead Let's let you know, let's get over it. 632 01:05:03,219 --> 01:05:10,199 Biden was dead with that guy was not Biden. It was some British actor We have to get o... 633 01:05:10,199 --> 01:05:17,090 narcotics presidencies where they were in a hidden fashion Installing communism in the... 634 01:05:17,090 --> 01:05:23,619 we need to get past that Chris and it's not gonna be a one-year recovery For the 635 01:05:23,639 --> 01:05:29,489 debt that took 30 years to accumulate it took more than 30 years to accumulate Let me le... 636 01:05:29,489 --> 01:05:37,920 I got a little reminder to myself. I have no social Network account that posts anything. 637 01:05:38,159 --> 01:05:44,800 I Have no social network account that posts anything So anyone who 638 01:05:45,360 --> 01:05:52,110 has a Jim Willie account, I know they're about eight or nine in Twitter and they're... 639 01:05:52,110 --> 01:05:59,320 follow my work and that's fine But if they pretend to be me, it's not me because I ha... 640 01:05:59,320 --> 01:06:05,010 that posts anything Jim do you have any social network accounts? 641 01:06:05,199 --> 01:06:11,719 I used to but not anymore. No, I don't I have none I have not trusted Facebook from the... 642 01:06:11,820 --> 01:06:19,309 I knew that Facebook was a stolen product and You know, 643 01:06:19,380 --> 01:06:27,389 let me just let me just add on some ugliness to an ugly cake Amazon 644 01:06:27,389 --> 01:06:34,260 Google Facebook Netflix They all got pumped up Tesla also. 645 01:06:34,320 --> 01:06:40,909 They all got pumped up by narco money But they don't yet there's no justification fo... 646 01:06:40,909 --> 01:06:47,639 or two trillion dollar market caps It is an infusion of narco narco money into the US... 647 01:06:47,639 --> 01:06:54,219 and into the US financial markets In order to control technology and you saw it with the... 648 01:06:54,639 --> 01:07:02,150 All right, let's move on. I Think there's going to be a revaluation For 649 01:07:02,750 --> 01:07:10,920 gold and You know, if you double the gold price You 650 01:07:11,119 --> 01:07:18,369 're basically saying the dollar is cut in half, but I like to look at it as a dichot... 651 01:07:18,380 --> 01:07:24,989 of the dollar and you've got a purchasing power of the dollar the financial value of... 652 01:07:24,989 --> 01:07:32,400 very much determined by dumping treasury bonds and liquidating derivatives and 653 01:07:32,800 --> 01:07:39,300 the the reality in Households for the value of the dollar is how much was my 654 01:07:39,599 --> 01:07:46,380 food bill for my family of four and a dog Because I know you like dogs Dogs are 655 01:07:46,380 --> 01:07:52,880 not very expensive for dog food. It's amazing, you know when I was in college and 656 01:07:52,960 --> 01:07:56,849 I was eating Alpo dog food I found it to be really cheap. 657 01:07:56,929 --> 01:08:03,889 No, no, I'm sorry. That was my neighbor. He was a cokehead Chris the dollar 658 01:08:03,889 --> 01:08:07,500 is a mystery Most people haven't figured out the dollar. 659 01:08:07,500 --> 01:08:13,840 I've been misquoted many times in the last three years She really thinks the dollar i... 660 01:08:13,900 --> 01:08:21,319 I never said that. No, I said the dollar will rise rise some more and Finally rise again 661 01:08:21,720 --> 01:08:30,659 before it vanishes and it's going to rise like a supernova because of treasury bond... 662 01:08:30,909 --> 01:08:37,590 Okay, you know the Wall Street Journal did not properly report the two thousand... 663 01:08:37,590 --> 01:08:44,239 hundred billion dollars worth of treasury bonds and Their yen went down 664 01:08:44,640 --> 01:08:51,170 They dumped treasury bonds and the dollar went up versus the yen and they've 665 01:08:51,170 --> 01:08:58,000 never Covered since and their solution Chris is to go to the gold standard and right now 666 01:08:58,119 --> 01:09:05,260 they're facing assassinations and I Heard that Slow down there. 667 01:09:05,260 --> 01:09:12,399 What what about Japan going to a gold standard is please elaborate on the Bank o... 668 01:09:12,399 --> 01:09:16,800 They were going to quietly accumulate a lot of gold. What do you think gold's going up? 669 01:09:16,899 --> 01:09:23,460 It's not because of you and me buying gold coins I can assure you Actually, Jim that was 670 01:09:23,539 --> 01:09:30,229 one of the things I wanted to ask you where we have a guy named Matt Riley Who's done ... 671 01:09:30,279 --> 01:09:36,899 you and I have talked about the unit the Proposal for a 40% gold back payment curre... 672 01:09:36,970 --> 01:09:43,710 you will Yep, and the last time I had Matt on I keep thinking back to how this rally whi... 673 01:09:43,840 --> 01:09:50,439 just about 13 months ago now in mid-February At a time when we were supposed 674 01:09:50,739 --> 01:09:57,640 to have six or seven rate cuts We got a couple of them later in the year, but it... 675 01:09:57,760 --> 01:10:03,439 why did gold and silver rally at that particular time as opposed to any other year? 676 01:10:03,539 --> 01:10:10,439 I've wondered I can't prove or verify this, but certainly have speculated in my own mi... 677 01:10:10,439 --> 01:10:13,729 what we're seeing out of the bricks is the driving force. 678 01:10:13,739 --> 01:10:20,260 I asked Matt you thought that was Largely the reason you're suggesting Japan as well, bu... 679 01:10:20,560 --> 01:10:25,649 in terms of you said is that just maybe Japan? Why the price rose along those lines? 680 01:10:25,720 --> 01:10:32,239 Do you think that a lot of last year's rally really? Was driven whether they're there... 681 01:10:32,539 --> 01:10:39,149 formally using the unit yet, but was this to some degree Anticipation of that whether f... 682 01:10:39,180 --> 01:10:45,079 or otherwise, but that that was the bricks Yeah, they couldn't they couldn't get ready. 683 01:10:45,079 --> 01:10:51,720 I'm sorry. They couldn't be in a position Pardon me my my eyebrows are bothering me... 684 01:10:51,779 --> 01:10:58,380 couldn't be in a position to use the unit unless they had the backing for the unit I... 685 01:10:58,970 --> 01:11:06,939 well, you know, we're gonna use gold for a lot of transactions, but we don't have any... 686 01:11:07,079 --> 01:11:13,710 Okay, so they did a year of accumulating gold so they could use the unit Now here's a... 687 01:11:14,149 --> 01:11:20,859 It's really quite funny Japan acted more like a bricks nation than any of the 688 01:11:20,859 --> 01:11:27,460 bricks nations They're not a bricks nation They dumped two hundred billion 689 01:11:27,600 --> 01:11:34,359 dollars worth of treasure bonds between October of 21 and October of 22 and 690 01:11:34,380 --> 01:11:41,640 their currency went down 22% Okay, that was a warning to the bricks 691 01:11:42,420 --> 01:11:48,930 Be careful how you dump your treasuries because if you exit your dollar reserves y... 692 01:11:48,930 --> 01:11:57,460 go down Okay, this is We exported toxic paper Chris and 693 01:11:57,560 --> 01:12:04,270 the world just like John Connolly said Treasury Secretary to Nixon The dollars ar... 694 01:12:04,270 --> 01:12:10,680 your problem The bricks nations are being very cautious now and how they're dumping... 695 01:12:10,680 --> 01:12:14,380 I'm sorry how they're dumping Oh, how they're dumping the Treasury bond. 696 01:12:14,380 --> 01:12:21,079 I Think they had a good 18 months of gold accumulation and and regarding the interest 697 01:12:21,079 --> 01:12:27,680 rate concept I was all over that I was following that the the announcement and th... 698 01:12:27,680 --> 01:12:36,399 of Fed rate cuts I Think it lit a small fuse in 699 01:12:36,399 --> 01:12:43,840 the gold market because of arbitrage between Treasury bonds and gold and 700 01:12:44,380 --> 01:12:50,890 There's another angle of that. This is nothing as simple when it comes to gold an... 701 01:12:51,420 --> 01:12:57,960 to that and I and I forecasted this Chris. I said when they when they cut rates They... 702 01:12:57,960 --> 01:13:02,970 rates, but they're probably gonna cut rates They did in September and they did again i... 703 01:13:02,970 --> 01:13:10,079 They did again following that I said we're gonna see a steepening of the Treasury yie... 704 01:13:10,079 --> 01:13:16,659 go up and and the short bonds the short bills They go down with the Fed the Fed rate cut... 705 01:13:16,659 --> 01:13:21,520 now we have a steeper yield curve Which is the signal of inflation? 706 01:13:21,920 --> 01:13:28,460 and That's That's a trigger for gold purchase. There are so many factors 707 01:13:28,800 --> 01:13:35,300 going on right now, and I got 47 of them So, you know go to golden hyphen jackass comm... 708 01:13:35,550 --> 01:13:39,029 the newsletters support my work Because I'm a hurting cowboy. 709 01:13:39,069 --> 01:13:42,439 If you think I'm swimming along great. No, you're dead wrong. 710 01:13:42,550 --> 01:13:48,319 No, I'm getting attacked and it's really quite It's really quite sad what's going on. 711 01:13:48,319 --> 01:13:53,289 I'm getting attacked And it's not at my front door. 712 01:13:53,289 --> 01:14:00,189 It's at a very high plane I'm like a high-plane drifter 713 01:14:00,189 --> 01:14:09,159 Chris and and oh I gotta put this up just to annoy you This is Arcadia Jim. 714 01:14:09,159 --> 01:14:13,800 Do you want to take a moment to explain to people your fascination with the Eastern t... 715 01:14:13,899 --> 01:14:20,840 I've always been confused with the time zone and we're in the Eastern time zone here an... 716 01:14:20,939 --> 01:14:27,529 We we were so confused sometimes we're central time zone and sometimes we're... 717 01:14:27,590 --> 01:14:34,119 depends on the daylight savings time Jim that's what I love about your shows you get 718 01:14:34,119 --> 01:14:39,960 economics a little science earlier and Basic date and time zone information. 719 01:14:39,960 --> 01:14:46,720 So with that said you're saying you do feel the bricks We're driving for us and also t... 720 01:14:47,119 --> 01:14:54,119 Yeah, how would you phrase what exactly you think? Neculating versus fact 721 01:14:54,119 --> 01:15:00,720 they act more like a bricks nation in Japan than any of the bricks nations They're 722 01:15:01,060 --> 01:15:07,609 Dolarizing right now and they're gonna be going to XRP payments All right, and there... 723 01:15:07,609 --> 01:15:12,989 of our interview with Jim Willie where as usual he had plenty to say and part