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Oct. 17, 2025 - The David Knight Show
31:13
Gold Over $4,300: The Fiat System Is Dying
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All right, and joining us now is Tony Ardeman of Wise Wolf Gold.
And you can get to Tony and let him know that you're coming through us if you go to davidknight.gold.
And Tony does something unique that nobody else that I know of does.
And he offers a way for you to, on a regular basis, and even in small amounts, as low as 50 bucks, you can start accumulating gold and silver on a regular basis.
It's a great way to do a savings program.
And it's a great service that he offers to people.
And I'm sure you have been very, very busy the last couple of weeks.
Couldn't come on the show yesterday, but glad to have you today.
Thanks, Tony.
Well, it's great to be back.
And I couldn't come on the show yesterday just because of my schedule.
I've never had this sort of mountain of activity weighing down.
It's funny because we did a grand opening for my Texas location on which I'm here now in Denison, Texas.
I have an old branch, Bank of America bank that we took and made into Wise Wolf Gold, Silver, Bitcoin.
So we did a ribbon cutting.
And I was telling the people there, I was like, well, you know, this is the operation that started out in a shopping center in San Antonio.
And now we've got, you know, two locations in two different states and, you know, the membership subscription program.
We're a national dealer.
And we are completely swamped.
And we're swamped in a way that's, I think, very telling of where we are as an economy, what's going on with the monetary system.
And we become a selling hub.
People are just selling me massive amounts of silver, some gold, but lots of silver.
And because this is silver is just past its all-time high.
We broke that 45-year mark, I think all the way up to past $54 an ounce, close to if not $55 in some futures metrics.
And I think we're just getting started.
And this happened really, it's the dam broke, it seemed, in the last 30 days, David.
And some of the metrics that I'm seeing, which are just kind of some inside baseball, it's now taking five to seven days for the trading floor to give me credit for anything that I give them.
Wow.
Certain large refiners have stopped buying scrap silver or sterling silver or pre-1965 coinage at any cost.
They will not pay you for it.
So the institutional buying is on.
And the retail side of people are still buyers, but it's a complete inversion of the model.
So we are in interesting times.
And a lot of people might think this is some sort of bubble, but like you and I were texting a couple days ago, I don't think this is a bubble at all.
I think we're just getting started.
Yeah, no.
I mean, all the things that have made this rise are all still in place.
And there's no solution for these problems that are there.
So what you're seeing is, of course, the institutions are buying silver, but you're seeing that at retail, people are selling it because, again, maybe they got it for a rainy day and it's raining right now for most people.
And so they're starting to sell that in.
And I saw that report, I guess, about six months or maybe seven months ago.
We talked about that.
And it was at a coin show where people go and buy and sell gold and silver and things like that.
And this guy went around talking to all the different people at their tables, very much like a gun show.
We have retailers who have set up a shop there.
And they were all saying the same thing.
Said, we've got people who want to sell, but the retail level, they're not buying.
And that was really before it started making these big moves that it's making now.
So a lot of those people lost out on that.
But yeah, it's pretty amazing.
And we got up over 4,200, didn't we?
On gold?
Yeah, on gold?
Way past 4,300.
We were 4,325 this morning.
And then we've, yeah, there's some profit taking going on.
It happens on Fridays a lot.
So there's some profit taking going on, both gold and silver.
Well, this article is like a day or so old.
Oh, yeah, another day, another $100.
The metrics on that.
And, you know, my research right now, what I'm seeing, I don't know how a lot of these bigger companies, they may not make it.
I'm talking the bigger gold and silver, the bullion houses, because there's going to be some real strain between paper contracts and between what they hold, especially if there's a market pullback.
Because you could see a sell-off in gold that brings it back under $4,000, but that's an if.
And I don't know.
I mean, the geopolitical issues and central bank gold buying may just keep that price going indefinitely.
I don't know.
I think if it pulls back, I think it'll be a pause, but I don't think it's going to be a reversal like we saw happen in the 1980s.
Or 2011.
There won't be another 2011 where we hit almost 2,000 and then pull back to $1,100, $1,200 an ounce.
It's not happening.
There's too much going on in the monetary system around the world.
There's too much de-dollarization going on and uncertainty.
But it is interesting to watch.
You mentioned my subscription program.
A lot of those people, you can start out at $50.
The packages get lighter and lighter, folks.
There's nothing I can do about it because if you're seeing the prices, we put as much as we can in those packages.
And if you started out a while ago with me, you've done really well.
So it's saving you shipping costs, right?
Yeah, that's a good, that is a good, you know, that's a silver lining, no pun intended.
But it is interesting.
A lot of those folks are up.
Everybody that's in Wolfpack is up.
But yeah, the average walk-in customer that's just going to buy some silver, buy some gold.
I do not see those.
I mean, that's not, I mean, it's a rarity at this point.
And we're just scrambling because of cash flow.
It keeps me busy, David, trying to figure out where to put all this stuff.
They got a thousand ounces of silver behind me on the desk.
I was sorting through this morning, trying to figure out where I'm going to sell it.
So, especially when the price dips, because we buy and pay for it so high.
So I think I'm really thankful that I have the model, the business model that I have because I'm not under this massive, I don't have the sort of Damocles over me.
I'm going to make it.
It's going to be fine.
But I can't imagine housing this stuff with this price volatility and these numbers.
So that's the thing that's happening throughout our economy.
You look at all these small and medium-sized companies and how they are trying to deal with the chaos and volatility of Trump's tariffs.
And it's just this rapid rate of change, this acceleration that's happening with everything in different ways.
It makes it really, really difficult to survive when everything is changing so rapidly like that.
Yeah, this is a metric, I think, of the chaos.
And there was an article on Zero Hedge that's up today about you should measure the growth in markets by gold, and you'll see they're not that impressive.
Like some of the things that they've built up, whether it's AI or whether it's crypto or anything else, whether it's these new sectors and the stock market or the SP, a lot of that stuff is just trading sideways if you actually look at it from gold's perspective and gold is actually money.
So the fault lines are there visibly for everybody to see that this fiat economy is built on fake and any sort of real strain or exposure to reality is detrimental to the fiat system.
I think that's what we're seeing with the uncertainty of the tariffs or the geopolitical tensions.
Central banks are the buyers.
I think what we'll see too, David, and I don't know this, this is just a hunch doing my own research, but I think that we'll start seeing other state actors being shown to be buying silver.
India may be one of them as well.
I know we talked about Russia putting silver on out front as a strategic reserve asset.
I think that's one of the reasons why we're seeing silver in the price it is.
Nation states are getting involved.
And, you know, you mentioned Jamie Diemon and JP Morgan.
You know, they're largest physical holder of silver private in the world, private holder of physical silver in the world.
And of course, they suppressed the price for a long time.
Those price suppression moves aren't there anymore.
That's another tell.
Something else is up.
And China just put silver, China's stockpiling silver for their weapons systems and their industrial base as well.
Yeah, as far as Jamie Demon goes, he said, yeah, he sees gold going 5,000.
He said maybe 10,000 in the short term.
And he said, but I'm not buying any.
I'm not a buyer of gold.
He said, it costs 4% if I keep that.
Are you talking about something that maybe is going to go up 20, 25% or maybe 250%, but you don't want to pay that 4%?
None of it makes any sense.
But I remember he was doing the same kind of stuff with Bitcoin.
He was trash talking Bitcoin at the same time that JP Morgan was setting up their own crypto stuff, right?
That's right.
Yeah, he's still going to trust him.
He'll tell you a story so that he can take advantage of the marketplace, I think.
Yeah, that's that pump and dump style of the press release that he would do.
I remember 2018, and he was saying that him and Larry Fink, by the way, of BlackRock, saying that Bitcoin was a yardstick of money laundering or something, as a measurement of money laundering and criminality.
And then they're, oh, we're going to launch the first successful Bitcoin ETF.
Okay.
You know, so a lot of those things are, don't buy it, don't buy it.
Same thing with silver.
But there's not, if you go back to 2021, which I remember this vividly, there was the Wall Street Bets crowd, and they had this whole thing, the Reddit Raiders, all those guys said, buy all the physical silver.
So people went into shops all over the United States and bought out all the physical silver.
And I was one of those shops.
People come in and just rated everything that I had.
And the next day, the spot price for silver went down.
And I go, that is the tell because they sold off 1.3 times the annual supply of silver in the paper market in one day.
They just sold it.
And so 1.3 times the annual supply.
So it suppressed the price.
That was, I think, one of the last gasps where you can show that there's no silver available, but the price goes down.
And that happened in February of 2021.
Those moves aren't happening now.
And I think the tariffs and that was kind of, you remember you and I talked on Halloween last year.
I remember it was right before the election because the election was on November 5th last year.
And I was out in Florida.
And I remember we were discussing what was going to happen in the election.
And, you know, if Kamala wins, we'll see an increase in the price of silver and gold.
And crypto will take a hit because of the regulatory, you know, the oversight that the Biden administration and especially the left wanted to give crypto or Elizabeth Warren.
And if Trump wins, crypto goes up and there'll be a discount on gold and silver.
Think about that discount that you talked about on your show.
We're like, hey, it's silver and gold went down after the election and crypto went up.
And of course, Bitcoin hit 100,000 in December of last year.
I think it was December 4th.
Remember, I had that commercial I did for the commercial, yes.
Yeah, gold and silver are on sale, boys and girls.
They're on sale.
It was on sale.
That's right.
It was.
And I just think, you know, in previous bull markets, I'm not even sure I would call this a bull market for gold.
I think this is just reality setting in.
The dollars lost, what, 45% plus purchasing power against gold in the last year.
Wow.
If you're saving and think about how devastating that is for, or is going to be for somebody and just a regular consumer or a regular person.
You put your money in the bank, and not only do they not even bother to pay you any interest now, but the dollar is losing its value.
So all these things that are there, the debt, the inflation, the new financial systems that are being built and everything, all of that is pushing people into gold.
I'm just amazed to see at how many people are jumping into the ETFs.
And that's been a big part of it.
So, you know, they're scrambling to try to get some gold to try to cover themselves.
But I just look at it and if you're going to get gold, get physical gold or silver.
Don't get into these derivative funds.
I think that's a very risky thing, frankly.
I think it certainly can be.
You got counterparty risks there.
And if I've got a silver coin in my hand or I've got an ounce of gold or whatever or some gold, I don't have any counterparty risk, especially if you're buying it from a dealer that you trust and you know you source that product from the right place.
You have no counterparty risk whatsoever.
And that to me, you know, we talked about the ultimate privacy coin really is an ounce of silver.
The ultimate privacy coin between two people.
There's no blockchain.
But I think decentralized money really is the future.
And I know that the banking overlords know that.
The great reset folks know that.
They're trying desperately to accelerate this plan of putting us all in some digitized blockchain dystopian uni coin or something.
They'd like to do that, but it's chaos everywhere.
You can see the fall of these fiat currencies on the horizon.
It's not going to happen tomorrow, but it is happening.
I mean, we're watching the death of that.
And then I think when you look at the crypto stuff, again, this PayPal's crypto partner minted a whopping $300 trillion with a T worth of stablecoins, and it was a technical error.
So they were there for about a half hour, and then they stuck them in a wallet to essentially burn them and make sure they couldn't get there.
But the question is, you know, if the stable coins, my first question was, how in the world can they create $300 trillion worth of stable coins if the stable coins are supposed to be tied to some finite resource like T-bills or gold or something like this?
To me, that is a huge red flag for the whole stablecoin thing.
We've tied them to all the oxygen molecules on the planet.
Yeah, well, I think Azero Hedge pointed out somewhere in the story that it's more than all the currency worldwide or something like that.
Oh, yeah.
Mr. Ponzi would be proud of this operation.
Think of this.
You create a digitized coin and you say, well, this is tethered to the dollar.
So it's like you make this thing outside of the dollar, but it's supposed to be tethered to the value of the dollar and it's backed by whatever you say you back it by.
But people put and buy those units and then you take those units and you buy gold with them, David, because that's what they're doing.
Matter of fact, think about that.
They're buying gold, buying some Bitcoin, but they're buying gold and they're also taking some of those same dollars that you buy in and you, you know, dollar for dollar and you match them and you get a blockchain digitized dollar and they're going to buy gold mining stocks because that's what they're doing too.
That was up on Kitco.
A lot of these, this could be as well, like a lot of the acceleration.
And I think after the Genius Act, and we talked about this, to rehouse value, they may just be dumping, it may be a transition of some kind, like the digitized stablecoin is going to identify as the dollars.
And I'm talking about that kind of transition.
And they're going to be buying up all these commodities with things that people buy.
And you give them real value and they turn around and buy something else with it.
This is a transfer of wealth and wrapping your head around it.
Because we're not on the inside.
I don't see it.
But I look and see there's something up here.
Yeah.
You know, when you have, this is the stat here.
It would require more than double the world's estimated total GDP to have $300 trillion worth of something like that.
So they just make this up out of nowhere.
You know, this is one of the things, Tony, when we look at the Genius Act, I think I know where they came up with that name.
Somebody said, you know, we want to set up a CBDC, but people are on to us about that.
And not only that, but people are on to our scam about the fiat currency.
We can't get central banks and other nations to buy it anymore.
So somebody says, well, do the stablecoin thing.
Somebody says, genius.
Genius.
Yeah.
Genius Act.
It's like the Patriot Act.
The Patriot Act is supposed to target patriots.
And then the Genius Act is against geniuses, actual geniuses, people that would be like, no, that's not right.
No, no, no, no.
It's genius.
Yeah, I tell you, it's just such a pump and dump scam.
It truly is amazing.
But again, this is being brought to you by PayPal, in whom I don't have any confidence.
These are the guys who kicked me off, what, four and a half years ago.
Yeah.
2021, May.
Sorry, no, not going to give you any info about that.
It just says it's to be terminated.
So I took a little bit of Schadenfreude there saying that this was happening to PayPal and their stablecoin, which is the sixth largest stablecoin, by the way.
But I imagine that Lucky Lutnik is wondering what's going to happen in terms of people's confidence should be shaken in this thing, I think.
I've got a question here for Tony.
It's from High Boost.
He says, ask Tony about Fink's comments about tokenizing the global economy.
Oh, Larry Fink, well, you know, and he's talked about they're trying to figure out how to save real estate, in my opinion.
They're trying to figure because real estate is a real problem around the world, especially after COVID-19.
And, you know, Gerald Salente's talked about just like those massive office complex and high-rises that were vacated over the, and then propped up.
So a lot of these companies are zombies, you know, and you've had that Canadian retirement fund, like the national fund sold a high-rise for a dollar last year or something like that because just for the debt, just for the assumption of debt.
So real estate, I think, is in a big bubble, and they've got to provide all this Return for their clients because a lot of these Vanguard and BlackRock and all these people, you know, it's just offering like we're going to use your money and shuffle it around and you'll get X return.
And then there's going to be this, I think real estate's overbought.
It's had to house too much failure from fiat.
And it's an illusion, in my opinion.
There's lots of, there's some great podcasts out there by Bitcoiners who have gone from real estate to Bitcoin.
I think that's an interesting, it's at least a thought experiment of especially like Gen Z who can't buy a house and buying Bitcoin instead or something like that.
So they're trying to just put lipstick on a pig and say, hey, we're going to tokenize real estate through these coins and you can have a piece of the deal and then we can, it's just like anything else, just like a stock that you can pump up and it's, you know, times earnings, it's this.
And I mean, if you want to follow that lure, then you're welcome to.
Not my, I won't be doing that.
I won't be buying any tokenized things from BlackRock.
Well, you know, you go back and look at how he got his really got a leg up on everything was with the real estate crash because that was all about securitization, which is a form of tokenization, right?
So we've all seen this game before.
They just change it slightly.
They tweak it slightly and they keep pulling the same type of schemes again.
You know, when you look at 2007, 2008, why would we want to go down that road again?
But again, going back to this PayPal minting $300 trillion, their whole market cap for their stablecoin is just over $2 billion.
So, you know, they're going to do something that is just, what would that be?
That would be $300,000 when you got $2 and you create $300,000 out of it.
That's a pretty good profit margin, isn't it, Tony?
How in the world, what kind of a system even lets them do that?
I mean, they caught it and then shut it down after a half hour.
But what kind of a system do they have?
You know, who's monitoring this stuff to make sure that it is stable, that it is secured by something?
Nobody.
And so that's the same kind of stuff they're going to do with this tokenization, I think.
Yeah, not stable and not a coin.
Wherever I heard that kind of like Federal and Reserve.
No, it's, yeah, you're right, David.
This is the off-ramp, though.
If we're really honest, do we look at this from the lens of what you and I, I mean, I think we have similar views on how history works and what the next steps will be.
I think that the off-ramp for the dollar, if it wants to continue to have hegemonic dominance around the world, is through stablecoins.
It's the way to do it.
You can, especially since we lost or purposely lost the petro dollar last year.
So we're no longer the petro economy or the petro dollar.
And then seeing where all that, the velocity of that, the money velocity of that is gone, it looks to me, and I'm not the only one who thinks this, that the answer for the overlords is to put everybody through the stablecoins.
And then use that public-private partnership, which works out well for the overlords or whatever you want to say.
Friends of Trump.
Friends of Trump, the great recept, great reset, Klaus Schwabian types.
They like that.
They like that public-private partnership because you can't really FOIA a corporation.
And they're going to use that, I think, as their favorite tool.
You know, there's an interesting chart here in a Zero Hedge article.
You were mentioning stocks don't look that good if you price them in gold.
And here's why.
I mean, if you go back and you look at, all right, silver is up 36.6%.
Close to that is NASDAQ at 35%.
But gold is up 53.6%.
And this was done, this is data that was taken when gold was back at $3,946 an ounce.
So, I mean, we're talking about a couple of weeks ago, you know, when we're looking at something like this.
But you look at something like the Standard and Poor 500, that's only 17% up.
And the Dow Jones average is up only, let's see if I get it, 14%.
And the Russell 200 was up 18%.
So, you know, that's why we look at these different stock exchanges, the stocks have not been doing that well, which is really kind of surprising because usually this quantitative easing and the, you know, things like that are usually flow through Wall Street through the stocks.
That's where you see it being pumped a great deal.
Yeah, that pet rock's doing pretty good against all this sophisticated stuff.
Like Warren Buffett talked about gold.
I don't know what it just sits there.
It doesn't do anything.
Well, that's because it's money.
I mean, it houses energy.
It's not supposed to do anything.
And then that's, you know, you look at a lot of these companies.
They're overbought.
They're over leveraged.
They're, you know, it's 100 times, thousand times earnings, whatever these people bake into their price models anymore.
I don't know if you can trust that.
Some people make money in the stock market.
I mean, God bless them.
I don't really, you know, I want them to be successful, but it's not my thing.
And I don't see, I'm not going to give anybody.
I'm going to give you my money.
I mean, maybe some gold mining or silver mining stocks at this point, because I think a lot of those stocks are probably cheap.
But I mean, I wouldn't, you know, again, I'm not in control of that.
And that's the counterparty risk argument, especially after what we've seen.
It's the proximity that these multinationals have to the money printer.
The proximity that they have to the money printer to be there first when they offload, or there's, you know, quantitative easing or rate cuts or whatever, they benefit.
And the last people to see anything are the regular folks.
And they get hurt by it because prices increase.
So that's, you know, this is a new era for money, David.
I'm studying it every morning and doing my best to wrap my mind around it.
But it is interesting times.
I was talking to the sort of trader from the Trading Fork.
We talked last week and he said, we are in interesting times, Tony.
Because I asked him, I said, what are you even going by?
Like, what spot price?
He goes, we have our own spot price.
It's internal.
And I said, based off what?
Based off futures.
So I'm like, I got to follow your spot price.
It's just, that's never happened before.
And the reason is, a lot of these bigger companies, in my opinion, they're having to buy and house and move so much because the average person is offloading because the economy is not great.
Matter of fact, I got a text from Charlie Robinson yesterday.
He's talking about India and some people in China.
And it's like, they're lining up around the block.
They're buying gold.
And I said, people here are not doing that.
And as a matter of fact, I'm spending most of my day trying to figure out where to sell stuff to.
I've got boxes of right here on my day.
I've got boxes of sterling silver that has no buyers.
Like I have to figure out, I may, by the way, I may, maybe I'll do a Kickstarter or something and I'll put a refining equipment back here in the back and we'll start melting our own stuff and make our own bars.
I mean, this may be the opportunity to do it because there's no, these other places are under such strain.
That's amazing.
Well, again, it's the kind of froth and uncertainty and chaos that we see everywhere.
You're trying to deal with this just like somebody who has to import a few things in order for them to manufacture something in America.
They've got to be able to import stuff.
And they're kind of frozen because they don't know what to do.
They don't know where the tariffs are going to be from day to day.
And so we're seeing that kind of stuff as well because this volatility.
The volatility is its own problem.
And that is only increasing along with everything else, like the debt and the inflation and the geopolitical issues that are there.
It's the volatility that's there.
So, yeah.
Anything you want to tell us about what's happening there at Wise Wolf?
Oh, well, we're just taking care of our customers and our wolf pack.
And I'm paying attention to what goes in those packages.
We appreciate everybody that stayed on.
It's one of the reasons that we built that up.
And we've got a place to get you some great deals on silver because it's walking in every single day.
We'll have some news coming out soon on some promotions and things.
But just trying to make sure all the stuff works.
So that's my goal right now.
So yeah, DavidKnight.gold.
And appreciate all your listeners, David, everybody who supports us.
Well, we appreciate your support, Tony.
Thank you so much.
And again, it's been a great deal for anybody who listened to you.
I mean, you see, we don't particularly Gerald Slinty's coming up, and as he says, I don't make exact predictions of when things are going to happen.
I look at trends, and we can look at a trend, and we can see that it's still pointing strongly towards gold and silver and things like that because of all the things that have been driving this have remained there as problems if they haven't exacerbated in most of these cases.
And so the case for gold and for silver is still strong.
Doesn't mean that isn't going to have some noise along the way.
But it's been a great investment for people, I think, as we look at this.
Thank you so much for your help, Tony.
And again, DavidKnight.gold, take you to Tony Ardubin's Wise Wolf, folks.
And thank you, Tony.
Appreciate it.
Thank you.
It's been a great deal for a lot of people.
Thank you.
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