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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 Artem of Wise Wolf Gold, and you can get to Tony and let him know that you're coming through us if you go to David Knight.gold.
And uh 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 it's a great service that he offers to people.
And I'm sure you have been very, very busy uh the last couple weeks.
Couldn't couldn't come on the show yesterday, but we're glad to have you today.
Thanks, Tony.
Oh, it's great to be back.
And yeah, I I couldn't come on the show yesterday just because of my schedule.
I've I've never had this sort of uh mountain of activity weighing down.
I I it's funny because we did a grand opening for uh 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 operations that started out in in a shopping center in uh San Antonio, and uh now we've got you know two locations in two different states, and uh you know, the 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 and 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 a 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, uh close to if not 55 and some futures metrics.
And I think we're just getting started, and this happened really is the dam broke, it seemed in the last 30 days, David.
And um uh the some of the metrics that I'm seeing, which are 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.
Uh certain 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.
Um so that the institutional buying is on and the retail side of of people sit there are still buyers, but it's n it's a complete inversion of the model.
So uh we are in interesting times, and I you know, I don't uh a lot of people might think this is some sort of bubble, but like you and I were texting uh a couple days ago.
I don't think this is a bubble at all.
No.
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.
Uh so what you're seeing is of course uh the institutions are buying silver, but you're seeing that at retail people are selling it uh because again uh maybe they got it for a rainy day and it's raining right now for most people.
And uh so uh there's they're starting to sell that in.
And I saw that report, I guess about uh six months or maybe seven months ago.
We talked about that.
And it was at a um a coin uh show where you know people go and buy and sell gold and silver and things like that.
And this guy went around talking to all the different uh people at their tables, you know, very much like a gun show.
Uh we have small we have retailers who have set up a shop there, and they're all saying the same thing.
He said, you know, we've got people who want to sell, but uh the retail level, they're not buying, and and that was really before it started making making these big moves that it's making now, so a lot of those people lost out on that.
But um, yeah, you know, it's it's it's pretty amazing.
And we got up over uh 4300 uh 4200, didn't we?
Um gold?
Yeah, on gold.
Oh, for a pat way past 4300.
We were uh the mid like 4325 this morning, and then we've yeah, there's taken 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, so it's yeah, another day, another hundred dollars.
We're just the the the metrics on that, and and you you know, I've uh my research right now and what I'm seeing, I I don't know how a lot of these bigger companies they may not make it.
I'm talking the the bigger gold and silver, the bullion houses, because there's gonna be some real strain between con paper contracts and between what they hold, especially if there's a market pullback.
Because you see could see a sell off in gold that brings it back under four thousand, but that's an if.
And I don't know.
I mean uh the geopolitical issues and central bank gold buying may just keep that price going indefinitely.
I don't know.
Yeah.
Um but I think if it pulls back, I think it'll be a pause, but I don't think it's gonna be you know, reversal like we saw happen in the nineteen eighties.
Yeah.
Or or two thousand and electric.
Well, there will never there won't be another two thousand and eleven where we hit almost two thousand and then pull back to you know, eleven hundred, twelve hundred dollars an ounce.
It's it's not happening.
Yeah.
Um there's too much going on in the monetary system around the world.
There's there's too much dedollarization going on and uncertainty.
But it is interesting to watch.
And you mentioned, you know, my subscription program is a lot of those people at fifty dollars.
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, you know, a while ago with me, you've done really well.
But it's saving you shipping costs, right?
That's a good that is a good uh uh you know, that's a silver lining, no fun intended, but um uh it is it is interesting, uh a lot of those folks are up.
Um everybody that's in Wolfpack is up.
But um, yeah, the the average walk in customer that's just gonna 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.
Uh keeps me busy, David.
Yeah.
Trying to figure out where to put all this stuff.
I got I think I got a thousand ounces of silver behind me on the desk.
I was sorting through this morning trying to figure out where am I gonna sell it, you know.
Um so and press especially when the price dips, you know, because we buy and pay for it so high.
So I think I'm really thankful that I have the the model, the business model that I have because I'm not under this massive, I don't have the sort of damages over me.
I'm gonna make it, it's gonna be fine, but I can't imagine housing this stuff with this price volatility and this these numbers.
Um, so that's the thing that's happening throughout our economy.
You know, you 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 uh it's this this rapid rate of change, this acceleration that's happening with everything and in different ways, it makes it really, really difficult to survive when everything is changing so rapidly like that.
Yeah, and this this is a metric I think of the chaos.
Uh and there was an article on Zero Hedge um that's up today about you should measure the growth in markets by gold, and you and you'll see they're not that impressive.
Like some of the things that they've built up, whether it's AI or you know, whether whether it's crypto or anything else, whether it's these new sectors and you know, the the stock market of the SP, a lot of that stuff is just uh trading sideways if you actually look at it from gold's perspective, and gold is actually money.
So the the fault lines are there visibly for everybody to see that this this is fiat economy is built on fake and uh any sort of real strain or exposure to reality uh is detrimental to the fiat system.
I think that's what we're seeing with the uncertainty of the tariffs or the geopolitical tensions.
Um central banks are are the buyers.
I I think what we'll see too, David, and I don't know this.
I just just a hunch doing my own research, but I think that we'll start seeing other state actors being shown to be buying silver.
Uh India may be one of them as well.
Um 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.
Uh and you know, you mentioned uh Jamie Dieman and uh JP Morgan, the other largest uh physical holder of silver uh private in the world, private holder of physical silver in the world.
Um and of course they suppress the price for a long time.
Those price suppression moves aren't there anymore.
That's another tell.
Something else is up.
And uh China just put uh silver, China's stockpiling silver for their weapons systems and their industrial base as well.
Yeah, uh as far as Jamie Dieman goes, um he said uh yeah, he's he sees uh gold going five thousand, he said maybe ten thousand in the short term uh and he said, but I'm not buying any, I'm not a buyer of gold.
He's like it costs four percent if I keep that you're talking about something that maybe is gonna go up, you know, twenty, twenty-five percent, or maybe uh two hundred and fifty percent, but you don't want to pay that four percent thing.
None of it makes any sense.
But uh 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 um trust him.
He will tell you he'll tell you a story so that he can take advantage of the marketplace, I think.
Yeah, that I that's that pump and dump style of you know, the press release that he would do.
I remember 2018, and you know he's he was saying that him and Larry Fink, by the way, of BlackRock saying that uh Bitcoin was uh uh a yardstick of money laundering or something, you know, as a measurement of money laundering and and uh and criminality, and then they're oh, we're gonna launch the first successful big uh Bitcoin ETF.
Okay, you know, so a lot of those things are don't buy it, don't buy it.
Same thing with silver.
Um, but the you know 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 all the c everything that I had, and um the next day the spot price for silver went down.
And I and I go, that is the tell because they sold off one point three times the annual supply of silver in the paper market in one day.
They just sold it.
And so one point three times the annual supply.
So it suppressed the price.
That was I think the one of the last gasp where you can show that there's no silver available, but the price goes down.
Wow.
And that's that that happened in February of 2021.
Those moves aren't happening now, and I think the the tariffs and the 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 in uh in Florida, and I remember we were discussing what was going to happen in the election, and um, you know, if Kamala wins, we'll see a uh increase in the price of silver and gold, and crypto will take a hit because of the regulatory, you know, the the oversight that the uh Biden administration and especially the the left wanted to give crypto or or Elizabeth Warren.
And if you know Trump wins, crypto goes up and there'll be a uh a discount on gold and silver.
Well, think about that discount that you talked about on your show, where like, hey, it's silver and gold went down after the election and crypto went up, and of course Bitcoin hit a hundred thousand in December of last year.
I think it was December fourth.
Remember I had that that commercial I did for Christmas.
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 I just think, you know, it in previous bull markets, I'm not even sure I would call this a bull market for gold.
I think this is this is just reality setting in.
The dollars lost what, 45% plus purchasing power against gold in the last year.
Wow.
That's if you're saving and think about how devastating that is for or is going to be for somebody in just a regular consumer or regular, you know, uh person.
You put your money in the bank, and not only do they not even bother to pay you any interest now, but uh the 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.
Uh, 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 uh I I just Look at it and and um you know if you're gonna get gold, get physical gold or silver.
Uh don't uh get into these derivative funds.
I think that's a very uh very risky thing, frankly.
I think it certainly can be.
You got counterparty risk there, you know, and I'm like and I've got a s if I've got a silver coin in my hand, or I've got uh an ounce of gold or whatever or some gold.
Uh I'm 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.
Uh you have no counterparty risk whatsoever.
And that to me, you know, the oh, you talked about the ultimate privacy coin really is uh an ounce of silver.
The ultimate the ultimate privacy coin between two people, there's no there's no blockchain.
But uh they I think decentralized money um really is the future.
And I I know that the uh uh banking overlords know that the great reset folks know that they're trying desperately to accelerate this plan of putting us all in some you know digitized blockchain dystopian, you know, uni coin or something.
Uh they they'd like to do that, but you know, it's chaos everywhere.
It's just you know, you can see the fall of these fiat currencies on the horizon.
It's not gonna happen tomorrow.
Um, but it is happening.
I mean, we're watching the the death of that.
And then I think when you look at the crypto stuff again, this uh PayPal's crypto partnered a whopping three hundred trillion with a T worth of stable coins, and it was a technical error.
So they were there for about a half hour and then they uh stuck them in a 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 my first question was how in the world can they create three hundred trillion dollars 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.
I to me that is a huge red flag for the whole stable coin thing.
We've tied them to all the oxygen molecules on the planet, so yeah.
Well, as uh I think Azero Hedge pointed out uh somewhere in the story that it's more than all the um all the uh uh currency worldwide or something like that.
Oh, yeah.
Yeah, but Mr. Ponzi would be proud of uh of this operation.
Think of this.
You create a 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, uh, 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 uh digitized dollar, and they're gonna 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.
It may be a transition of some kind, like the like the the digitized uh stable coins gonna identify as the dollar or something.
I'm talking about that kind of transition.
Yeah.
And they're gonna they're gonna be buying up all these commodities with the things that people buy.
You give them real value and they turn around and and buy something else with it.
Um there's this is um this is a transfer of wealth and wrapping your head around it, you know, because we don't on the inside, I don't see it, but I look at and see there's something up here.
Yeah, uh, you know, when you have uh this is the stat here.
It would require more than double the world's estimated total GDP to have three hundred trillion dollars 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 that name.
Somebody said, you know, we want to set up a CBDC, and uh, but people are on to us about that, and not only that, but people are onto our scam about the fiat currency.
We can't get central banks and other uh nations to buy it anymore.
So somebody says, Well do the stable coin thing.
Somebody says, Genius.
Genius.
Yeah.
It's like the Patriot Act.
Yeah, you know.
The Patriot Act is supposed to target patriots.
Yeah.
And then you know the the Genius Act is is uh against geniuses, actual geniuses, people that would be like, no, that's not right.
No, no, no, no.
That's it's genius.
Yeah, I tell you, it's just it's it's such a pump and dump scam.
It surely 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 uh what four and a half years ago.
Yeah.
Uh to 2021, May.
And sorry, no, not gonna give you any info about that.
Yeah, just as it's supposed to be terminated.
So I I I took a little bit of Schadenfreude there, seeing that this was happening to PayPal and their stable coin, which is the sixth largest stable coin, by the way.
Um, but I imagine that uh Lucky Lutnik is uh uh wondering uh what's gonna happen in terms of people's confidence should be shaken in this thing, I think.
But a question here for Tony.
It's from High Boost.
He says, Ask Tony about Finks' comments about tokenizing the global economy.
Oh, Larry Fink, um well, you know, he and he's talked about they they're trying to figure out how to save real estate, in my opinion.
They're trying to fit because real estate is a real problem around the world, especially after COVID 1984, and you know, Gerald Salentes talked about this, like those massive uh office complex and high rises that were vacated over the and then propped up like so there, these are 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 um you know, 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 gonna use your money and shuffle it around and you'll get X return, and then there's gonna 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 podcast out there by Bitcoiners who have gone from real estate to Bitcoin.
I think that's an interesting uh it's at least a thought experiment of uh especially like Gen Z who can't buy a house and buying Bitcoin instead, or something like that.
So I they're trying to just put lipstick on a pig and say, hey, we're gonna tokenize uh real estate, you know, through these 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 um 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 um tokenized things from BlackRock.
Well, you know, you go back and look at how he got his his uh uh 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 um 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 uh 2007-2008, why would we want to go down that road again?
But again, going back to this uh this uh PayPal minting 300 trillion dollars, their whole market cap for their stable coin is just over two billion.
So uh, you know, they're going to do something that is um um just what what would that be?
That would be um uh three hundred thousand when you got two dollars and you create three hundred thousand dollars 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?
Uh 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 gonna do with this tokenization, I think.
Yeah, not stable and not a coin.
Wherever I heard that uh yeah, kind of like Federal and Reserve.
Um, it's in yeah, you're right, David.
There this is 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, it's 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 stable coins.
It's the uh it's the way to do it.
You can, especially since we lost or purposely lost uh the uh petrol dollar last year, so we're no longer the the petro economy or the petrol dollar, and then uh seeing where all that the velocity of that uh the money velocity of that is gone,
uh 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 uh stable coins and um and then you know use that public-private partnership, which works out well for the uh you know, the uh overlords or whatever you want to say.
Friends of Trump.
Friends of friends of Trump, uh, you know, the the great recep Klaus Schwabian types.
Yeah, um they like that.
They like that public-private partnership because you can't really FOIA, you know, um a corporation.
And um there's gonna they're gonna use that, I think, as a as their favorite tool.
You know, there's an interesting um uh chart here in a zero hedge article.
You you were mentioning uh 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%.
Uh close to that is NASDAQ at 35%.
But gold is up 53.6% uh 53.6%.
And this was done this is data that was taken when gold was back at uh $3,946 an ounce.
Uh 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 uh 500, that's at only 17% up.
And the uh Dow Jones um averages up only let's see if we got 14%.
And the Russell 200 was up 18%.
So, you know, that's why we look at these different stock exchanges, uh, the stocks have not been doing that well, which is really kind of surprising because usually this quantitative easing and the you know uh things like that are usually flow through Wall Street through the stocks.
That's where you see it being pumped uh a great deal.
Yeah, that pet rock's doing pretty good against all this sophisticated stuff.
Uh like 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.
You know, and then you it doesn't do it.
I mean it how it houses energy, it's not supposed to do anything.
Um and then that's you know, you look at a lot of these companies, they're they're overbought, they're over uh leveraged, they're you know, it's a hundred times, thousand times earnings, whatever these people bake into their price models anymore.
I don't know if you can trust that.
Um some people make money in the stock market.
I mean, God bless them.
I don't I don't really, you know, I want them to be successful, but it's not my thing.
And uh I don't see I I'm not gonna give anybody I'm gonna give me the my money.
I mean, maybe some uh 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 uh 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, uh they benefit.
And the last people to see anything are the you know the regular folks, and uh they get hurt by it because prices increase.
So that's you know, this is a new era for for money, David.
I'm I'm studying it every morning and um doing my best to wrap my mind around it, but it is uh interesting times.
I was talking to the sort of trader from um the trading for uh you know, we talked last week, and he said, uh we are an interesting times, Tony.
Because I 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 gotta follow your spot price.
Um it's just that's never happened before.
Um and the reason is I think a lot of these bigger companies, in my opinion, um, there's having to buy and house and move so much because the average person uh is offloading because the economy's not great.
Matter of fact, I got a text from Charlie Robinson yesterday 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.
Yeah.
And as a matter of fact, that's true.
I've spending most of my day trying to figure out where to where to sell stuff to.
I've got boxes of right here on my day.
I got boxes of silver sterling silver that has no buyers.
Wow.
Like I have to figure out I may I may, by the way, uh, I 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, we've got this may be the opportunity to do it because there's no these other places are under such strain.
That's that's amazing.
Well, again, it's the kind of um you know, 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 of this volatility.
The volatility is its own problem, and uh that is only increasing, along with everything else, like the debt and the inflation and the geopolitical issues that are there.
It's the uh volatility that's there.
So um, yeah, any anything you want to tell us about uh what's happening there at Wise Wolf.
Oh, well, we're just taking care of uh taking care of our you know customers and our wolf pack, and I'm I'm paying attention to what goes in those packages.
We appreciate everybody that stayed on.
It's uh it's one of the reasons that we've built that up and we're got a place to to get you some great deals on silver because it's walking in every single day.
We'll have some some news coming out soon.
Um some promotions and things, but uh just trying to get make sure all the stuff works, so that's my my goal right now.
So yeah, David David Knight.gold and uh appreciate all your your listeners, David, everybody who supports us and uh well we appreciate your support, Tony.
Thank you so much.
And um again, it's been a great deal for anybody who uh uh listened to you.
I mean, you see the we don't particularly just Gerald Slinty's coming up, and as he says, uh I don't make exact predictions of when things are gonna happen.
I look at trends, and we can look at a trend, and we can see that it's still uh pointing strongly towards uh gold and silver and things like that because of all the things that have been driving this have uh 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 it isn't going to have some noise along the way, but uh 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, David Knight.gold take you to Tony Artband's wise wolf, folks.
And uh thank you, Tony.
Appreciate it.
Thank you.
It's been a great deal for a lot of people.
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