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May 22, 2022 - Health Ranger - Mike Adams
51:37
David Morgan interviewed by Mike Adams on the CRYPTO RESET and ties to Epstein and Evergrande
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- Welcome to the Health Ranger Report here on Brighton.tv.
I'm Mike Adams.
And today we've got a great guest, David Morgan.
He is often referred to as a silver guru.
I mean, I think he's amazing.
He's got the wisdom and the experience and the knowledge of what's happening in metals.
But he's also taken a deep dive into cryptocurrency.
And he and another man named John Perez have put out a series called The Crypto Conspiracy.
That's quite intriguing.
We're going to ask him about that today, his thoughts on both crypto versus physical metals, gold and silver, and much more.
His website is themorganreport.com.
And again, his name is David Morgan.
You've no doubt seen his videos on brighttown.com already.
We've got him right here on my show, and we're going to ask him a lot of things.
So stay with us here.
Right after this break, we'll be right back with David Morgan.
You're watching brighttown.tv, and I'm Mike Adams.
We'll be right back.
Okay, all right.
Continuing now with David Morgan.
First of all, welcome, David, to the show.
It's great to have you on.
Mike, it's great to be with you.
Thank you.
Well, you're looking really warm and cozy.
You're all bundled up.
What's going on?
Oh, we've got about four-degree weather, and this office stays pretty cold, so I just went outside for a while.
I just decided to keep my coat on because it's cold.
All right, fair enough.
Well, so it's cold there, but you're going to give us some cold, hard truth about silver and metals and crypto as well.
So let's, how about this?
Let's start with your video series with John Perez, The Crypto Conspiracy.
Why did you name it The Crypto Conspiracy and what's it about and where can people find it?
Great.
I'm going to answer your question, Mike.
I'm just going to build an even broader foundation.
So, obviously, for people that know me, and I know there's many that don't, you know, I'm pretty much known as a metals head, a silver guy, honest money, hard money.
And, you know, we've written a Morgan Report with my staff for, oh, 23 years or so.
I'd say about four years ago, we started a column that's in every issue called the blockchain update or blockchain report.
We've been on it for quite some time.
If you go back into history, I was one of the first to actually learn about Bitcoin.
I was a bit open-minded.
I really didn't understand it.
I didn't really take a lot of time with it, but I had formed an opinion in 2014.
A lot of people trust me as they should.
Believe me, I'm a human.
I make mistakes.
Trust in God and believe in others, but no one is perfect.
Having said that, I wrote my two bits about Bitcoin because everyone was interested in 2014, seven years ago, what did I think?
So I put it all down.
So who cares what I think?
If I am who I say I am, that means the market knows more than I do.
And if the market says Bitcoin's wonderful, fantastic, fabulous, etc., who cares what I say?
However, If the market determines its wonderful, fantastic, best thing ever, watch out.
Why?
Because the bankers have a monopoly on quote-unquote money, and if Bitcoin starts to interfere with their money monopoly, things could happen.
Regulatory, taxes, penalties, etc.
I went on a step further, and it's in this...
It's in this treatise.
And I talked to, I believe, Richard Grove from tragedyandandhope.com.
And Richard, being a pretty good researcher himself, told me or showed me what I'd already found with some help of others, that this whole thing could have started under the auspices of the NSA. That the white paper that goes back prior to the Bitcoin launch, where you can mine it with your own personal computer in the early, early, early days, There might be something more to it.
So, look, again, I'll stay open-minded.
I'll also stay to my point that I'm a free market guy.
I think if you want to, you know, just put your life savings into Bitcoin, I think you're absolutely doing something inaccurate, incorrect.
And I think you should have a balanced approach to life, to your eating, to your exercise, to your portfolio.
So, I gave you a big background, Mike, but people really want to get kind of a quick read.
It's about a 10-minute read by Two Bits About Bitcoin.
Now to your question.
John and I have been looking at this thing pretty hard and decided, being conservative like I am, I don't like making mistakes.
I like being truthful, honest, and helpful.
I like to be sincere.
And after I had done kind of a double check on most of what John had been sending me for several weeks, months, really, I said, John, look, I'm not doing this on my own, and let's just call it a conspiracy.
That way, we get all the trolls off our back immediately.
Hey, Mike, look, it's just a conspiracy.
So how can you have any problems with me?
So we dove in pretty deep, as you know.
I know you've watched several of them.
One of the main features is this tie between Tether and Everground.
Now, I cannot prove it, so I'm not saying there is a tie.
But the research so far indicates that there could be, I said could be, not would be, and today, Friday, as we're doing your show, what we have determined from the Chinese government here on a Friday is all bets are off on every ground.
They're going to let it go.
Okay, hold on.
Hold on a second, David.
For our audience, let's assume our audience is not familiar with stablecoins, the concept of what Tether is supposed to be, and the fact that Tether, at least to my knowledge, has never been legitimately audited.
So can you tell us what is Tether and how does Tether relate to Bitcoin?
Right.
Thank you.
I need to look this up and get a little more deep in it, but Tether is basically the Federal Reserve for Bitcoin.
When Bitcoin needs to be utilized, Tether is the backing for it.
So it's supposed to have a one-to-one correspondence in the dollar value of Bitcoin for the Bitcoin market cap.
And I don't believe that's true at all.
I think it's far more like the Federal Reserve where it's fractional reserve, but cannot be proven.
But either way, and the reason it cannot be proven to back you up 100%, Mike, is that it's never been audited.
There's never been any proof.
And yet the SEC is starting to step around pretty hard of, you know, show us, don't tell us.
We want to see that you actually have the assets that you say that you have.
And so far, not so good.
So just a second.
So as I understand it, and please correct me if I'm wrong, but every Tether coin that's created is backed by one U.S. dollar's worth of assets somewhere.
That's the public claim of Tether.
Is that correct?
That's basically it, yes.
Basically.
Okay.
And so Tether currently claims to have what?
Tens of billions of coins out there?
Or $60 billion worth of assets.
It's mostly paper or dollars, but it's in what's called commercial paper, which means it could be Evergrande paper, which would be mortgage-backed securities, right?
We've already been through the mortgage-backed security fiasco.
Now, if we've done it in the Bitcoin world, the answer is I don't know.
What I am saying, Mike, is it looks like it could be.
So one of the key concepts that John Perez raised in your video series, The Crypto Conspiracy, which by the way, as I understand it, your team is posting on brighttown.com as well, so people should be able to find it there.
And I think that the number one biggest concept is counterparty risk.
Because when people are making investments in any cryptocurrency, in the minds of many people who don't understand how this works, they think it's like a bank.
They might even assume it's FDIC insured.
And even FDIC isn't that great of an insurance policy.
But people don't consider counterparty risk.
What happens if that company goes bankrupt?
So that's really what we're looking at here with Evergrande, kind of a ripple effect of counterparty risk, kind of like the subprime mortgage catastrophe of 2008, right?
Yeah.
Thanks for joining right to the point and hitting the nail right on the head.
And I have to add and leverage.
So it's counterparty risk and leverage.
And the leverage is massive leverage.
Michael Burry, who most people will know once I explain it, he was the one that's the movie The Big Short's all about.
There's a book called The Big Short.
It's better than a movie, in my view.
And he was that nut job like me and Mike Maloney and just a few others that can be proven that we're saying about 2007, look out, the real estate bubble is a bubble.
And you can go watch The Big Short if you don't know what I'm talking about.
It's one of my top three favorite movies of all time, yeah.
Okay.
And so, Michael, it's hard to find this stuff, but both John and I are pretty good researchers.
I have found in the archives that a lot that he has said about this situation, and one of them is it's about a hundred to one leverage in the hedge fund world for Bitcoin, which means you put up a million dollars and you can buy a hundred million worth of Bitcoin, okay?
Where does that money come from?
Well, the ether.
I mean, this stuff is just created out of thin air for the most part.
From what I've been able to determine, I mean, if Tether comes clean and they've got every...
You know, full backing like they claim.
I'll eat my words, but Mike, I'll just stand out at the edge of the limb like I have many times in my life and proven more correct than incorrect.
Yes, I made mistakes.
I think this thing is very, very dangerous at this point in time.
And John and I have gone out of our way on our time.
Our dime is totally for free to take this idea of the whole cryptocurrency world maybe not being all it's cracked up to be.
And I want to go a step further because I'm just looking at something from Guggenheim and the Chief Investment Officer there.
And this Mr.
Meenard, Scott Meenard, talked about at the WEF, Davos, better known as the World Economic Forum today, back in January of 2020.
And Bloomberg was interviewing him and said, what's your best asset or best class for this year, 2020?
And his answer was silver.
But he went on, before he talked about silver, talking about the whole system being a great big Ponzi scheme.
And he talked about the Resolution Trust Corporation going down, and then the banks being rescued, and going into the tech sector and pumping up that bubble, and it burst, and going back into real estate and having the subprime mortgage thing blow up, and then going into the stock market.
And he said, I'm quoting almost exactly, paraphrasing, You know, we go from bubble to bubble to bubble.
Well, what happened?
Well, the gold bubble really never got to lift off very far because what took place was this whole cryptocurrency fiesta.
And most of the millennials and many of my age and everyone in between that's investors saw this get-rich-quick system that all you have to do is stay in your base and play your Xbox and buy a Bitcoin, and life is good.
You're never going to have to work again for the rest of your life because Bitcoin's going up Indefinitely.
It's going to go to infinity eventually, and there's nothing better in the world than Bitcoin.
I highly suggest that being a real capitalist or a conscious capitalist, that the means of production is capital.
It's not money that you can print at the end of the printing press.
It's what Mike Adams does in his backyard with either machinery or my hand to grow a crop, train a dog, build a machine, put up a shed, repair a hammer, or whatever it is.
That's capital.
It's a means of production.
If you don't produce anything, you don't have wealth.
If everybody sat there with one Bitcoin in the world and sat in their basements, there'd be zero production, which means zero life.
Well, let me interject.
You're right on the money here because there does seem to be this idea in the crypto community that people can all get incredibly wealthy by doing nothing other than trading crypto with each other.
And they all think that every coin in their wallet is worth the last high price paid by one person for one coin.
Now, we have profits in our organization.
I reinvest them into just this last year.
I built another 20,000 square feet of warehouse space, put money into the concrete, the foundation, the steel building, our own internal supply chain, forklifts and everything.
I had people asking me, they're like, Mike, why didn't you just buy Bitcoin?
You could have retired.
You don't need to do business.
And I said, who's going to ship the food?
Right?
I mean, who's going to change the tires?
Who's going to plow the fields?
And they never think about that.
It's incredible.
Yeah, and I think you've made the point...
In a very excellent way.
But this is kind of one of my main themes for the last four years or so, it should have been longer, is there's no real correlation between the financial markets and the economy.
The economy is where we grow our food, ship our food, go to the restaurant, make stuff, trade stuff, wealth.
It's wealth transfer, people to people, and the only store of wealth that we have is supposedly this fiat Ponzi scheme.
And only a very few people, maybe one half of 1%, actually understand the difference between money and currency.
Although Mike Maloney, my friend at goldsilver.com, has made basically his life's work to teach people the difference.
I love his docu-series.
I've watched his whole series about money, by the way.
He's excellent.
Yeah.
So the point is, without production, you have no wealth.
And so you could have all the Bitcoin in the world, but there's nothing left to buy because everyone's sitting in their butts doing nothing.
There's nothing there.
So I'm obviously on a bit of a rant.
I'm not against Bitcoin.
I'm not against cryptos.
In fact, I think the blockchain is here to stay, and I think there's some merits to it.
I like the idea it's an immutable ledger.
You can't cheat once you've done something that's in the record forever.
You can't go back and erase it or change it or do the numbers different or whatever.
So I think that's a pretty good thing.
It's a truth machine in that sense.
But nonetheless, there's a lot of flaws in the system, and the idea that an electronic digit is equal to gold is absolutely the most baffling statement to me in my entire lifetime.
Well, I would agree with you on that point.
When they started saying that it's digital gold, I said that there's nothing about it that's like gold.
But let me ask you on the other side of this, don't we need a system other than central banks?
Don't we need decentralization of some kind of medium of exchange?
And doesn't crypto provide a platform to get us away from the extreme corruption and money printing of the Fed, which has been the source of so much evil in the world and so much government corruption and even the corruption of science and medicine these days and so on?
I mean, doesn't crypto potentially solve quite a few very important problems?
Potentially, yes.
I would say when bankers control the money, they control the corpse.
The corporations control the governments, and the governments control the people.
So if the people control the money, they have all the power.
My basic premise is, one, all fiat fails, and two, that money is a control mechanism.
So if money is power and you have a lot of it created infinitely because you're a banker, then you have a lot of control over the corporate class, the political class, the working class.
The welfare system, everything.
But if we had an honest monetary system where we could go out and mine gold and silver and coin it, we could have our own system.
Now, that was sort of the idea way back when.
Now, crypto does offer that opportunity.
However, as I said early on in that paper, and since talked about more in the Morgan Report, How decentralized is it if you have this KYC where you have to know your customer?
It's on a Coinbase or some exchange.
They know your name, rank, and serial number, your blood type, and how many kids you've got.
I mean, I'm obviously being a bit facetious, but not by Well, not really, with the vaccine passports becoming and being positioned as your wallets and driver's licenses in Utah, for example, to hold all that information.
Vaccine status, your social security number, home address, everything about you.
Medical history, allergies, all that.
So you're really not...
I mean, you're not far off the mark at all.
Yeah.
So this new system, everything will be...
You know, taxed, traced, and rewarded, we might say, based on your spending habits.
And the way I see this technocratic nightmare unfolding, and it is unfolding, is that you may not be termed a social credit score, but you will have a social credit score, which means the more in alignment you are with Big Brother, the more brownie points you get, and the more you veer from that...
That idea or that road, that thought pattern, the more less likely you are to be in with the crowd.
So let me maybe explain that a bit.
In China, you have what's called a social credit score.
So I used to believe 10 years ago, especially 20 years ago, that financial freedom meant freedom.
If you had enough of that shiny stuff or green stuff, you had a lot of freedom.
You could go where you wanted, buy what you want, travel, etc.
That's no longer true.
China is special.
So if you are a billionaire in China and you are one of these outsiders that doesn't think about the way you voice that you're not totally in line with the CCP, the Chinese Communist Party, and you make some kind of a free market statement that maybe, you know, freedom is more important than, you know, a political and you make some kind of a free market statement that maybe, you But she's just as a quick example, doesn't matter how much money you've got.
Your social credit score gets dinged.
And now everyone that's on your Facebook channel or your WeMe or your Tencent that's associated with you also gets marked down.
So your friends start to flee you immediately.
And that means you could be a billionaire and a penniless one at that because it doesn't matter how much quote-unquote money you've got, Mike.
What matters is how much you're in line with the CCP. And if you're not in line with them, you can't get the right hotel.
You can't get the right room.
You can't get the right mortgage.
You can't get the right, you know, Uber.
You can't do anything.
Yeah.
Blackmark.
Now, that's how...
Absolutely true it is in China.
It's working that way in a more soft or unrecognizable form, the way we're going throughout Europe.
And North America, but nonetheless, it exists.
And it's going to go about this far.
I think you may be familiar with this, Mike, but I think it was about a decade ago, there was this joke on the internet that most people saw it had to do with the guy that calls up Domino's Pizza, and he wants to order pizza.
And he says, hey, of course, they look at him, and then they got his medical records, they've got his history, they know his address, and they know his spending habits.
You know what, John?
You bought two pizzas last week.
You can't buy another one.
Your cholesterol level is this and that.
And this is absolutely not a joke.
This is the direction we're going.
And it's not going to be based not only on the amount of calories you're allowed to consume, it's going to be based on your carbon credits.
How much carbon did you burn at your factory, Mike, moving around pallets and taking inventory and, you know, shipping stuff out your door versus how much does the government say you're allowed to have in any given week an amount of carbon that you use?
Right, right.
And even on an individual level, breathing, you know, respiration.
Now, this is intriguing, but we've only got about three minutes left in this segment here on Brighton.tv, so I want to get back.
You hinted that you just learned something today that convinces you that Evergrande is finished.
Can you share that with us?
Yeah, the Chinese government basically said, or Evergrande said to the Chinese government, we can't make our payments.
Even domestically in China?
That's what they said.
Is there a press release or something?
It's a news headline.
I might be able to get it to you.
I'll look for it during the break.
Okay, now, Dr.
Marco Metzler from Germany and his group, they had announced weeks ago that Evergrande's so-called last-minute interest payments on foreign bondholders were actually not made.
And he had issued announcements and press releases, and he had said that they were initiating bankruptcy proceedings against Evergrande several weeks ago.
I forgot the name of his group.
I think it's in Germany.
Does that ring a bell?
It does, and yes, I believe that's true.
I mean, I, above almost everybody, doesn't believe hardly anything that comes from the mainstream press, and this did, but it lines up with, let's say, counterintelligence of what we're being told of sources I trust more.
And so if the announcement's true that Evergrande told the Chinese government, we're Kaputsky, we can't make our interest payments, that would align with what I've seen in the past.
So perhaps we should have led off with this, but I want to make sure our listeners understand that the fall of Evergrande would be much larger than the subprime mortgage collapse in the United States, or even the dot-com crash, because...
Evergrande, that was kind of the private sector retirement investment for all of China.
Because they don't have a social security system.
People put their money into property development.
And that's how they built the ghost cities with all these literally millions of apartment units in which no one was living.
Exactly.
And if this whole thing craters...
I mean, technically, couldn't it take down the entire CCP at some point?
I mean, how bad could it get?
That's a big statement.
Could it?
The word could, yes, it could.
Would it?
I doubt it.
But certainly serious damage.
It may be similar to me, as you just outlined, to the Lehman event.
I mean, the banks did come to the rescue, and some people that were, let's say, had high social credit scores got bailed out, Mike.
And people without such high social credit scores didn't.
Hmm, what a concept.
So I think you could take that concept into this scenario.
Well, and I see what you could actually experience in China is a mass local uprising of people who have lost all their life savings because of the Chinese government allowing this fraud to take place, the Evergrande collapse.
See?
And, I mean, it could be a real nightmare domestic scenario there for the party in power.
Absolutely.
And having been to China, their reverence for life is much different than ours.
Yeah.
Yeah.
Okay.
Let me stop here right there.
We're about to wrap up this segment here on Brighton.tv, folks.
This conversation continues on Brighton.com.
Go to my channel there, HR Report, or just search for David Morgan.
You'll find it there.
And we're going to keep talking about much more.
Thanks for watching today.
Take care.
All right, David.
Thank you for hanging on with us there.
So, yeah, I mean, thank you for clarifying.
I made a qualifying statement.
It could cause all this damage.
Maybe China will bail it out.
But then, if Evergrande fails, then, of course, all of the parties that hold Evergrande debt paper...
Which includes hedge funds, central banks of other nations, possibly Tether, as you mentioned earlier, and other organizations.
And, by the way, I've been reading that Evergrande issued a lot of private paper that really wasn't on the books.
Have you run into that, too?
I've heard the rumor.
It could be true.
In today's lackadaisical world where even the regulators are really on the side of...
The corruption.
In a lot of cases, they support the corruption.
I hate to look at you now and say that, but I'm telling you the truth and you know that.
Yeah.
So there could be special deals.
Oh, we'll give you a higher interest rate.
We just need a six-month loan.
Here's what we're going to do, blah, blah, blah, blah.
And both parties sign the document and away you go.
Well, so let me ask you this.
If Evergrande really falls, I mean, perhaps they're already bankrupt, but they can cover it up for a while.
And they can sell assets like company jets and so on, and they can make perhaps a few minimum payments here and there.
If it craters at some point, then why wouldn't Tether, who's already not audited by a typical bank auditor, why wouldn't Tether just say, well, we covered that with something else, or we never held that?
Why does this affect Tether?
Mike, it could be because of fear in the market.
I mean, markets overreact.
Markets are not rational.
I mean, if a market was rational, then you wouldn't have these buying and selling opportunities.
So even if the rumor were incorrect, You could have enough fear in the market where somebody of substance says, you know, I'm getting out of my position or whatever.
That could cause a selling frenzy.
I mean, if you look back to the Rothschilds and the, you know, Napoleonic Wars, which is so well, you know, talked about always and You know, everyone's looking to them having the best information and selling it in the market with the intent to drive the market down, even though they knew who the victor was.
So they got everybody in a panic cell.
Panic cells washing out and they buy up everything for 10 cents on the dollar, so to speak.
It could even be that kind of a situation.
I'd go a step further to say that all debts are paid, and if there's a default, which it looks like there is, then all of those loans that were made by, you know, as you said, hedge funds and pension funds and insurance companies, but largely the public, and their life savings are in there because that's the most sound thing you can do.
Real estate never goes down.
When did we hear that?
2007.
Oh, what happened in 2008?
It does.
Especially on a leverage situation, which all real estate, almost all real estate, very few people are cash-only real estate investors.
Almost everybody uses leverage to some degree.
So I think you're spot on, again, and I do think it's going to have repercussions from, it's already started, but I think the real repercussions will be probably to the end of December and then through the first quarter of 2022.
I think we're really going to see the markets We're forecasting very much what's happened, meaning the stock market's been overvalued, the bond markets can't be trusted across the board, the real estate market's been overinflated, the crypto market has been one great big bubble that's getting the air let out of it, maybe the metals that have actually substance in our money.
are starting to get a bid and people are starting to get into them again because they realize that all this other stuff is built on too much leverage, too many promises that can't be kept.
When you own an ounce of gold or an ounce of silver, it's as true as true can be.
Well, I would certainly agree with you on the physical metals, and I've long been an advocate of people owning physical metals themselves.
However, a lot of people, maybe they live in an apartment in a city, and they don't feel like their metals are safe under their personal control there, and they want to have something that's more mobile.
We can get into that later, but actually, my next most important question for you is, Isn't there also a lot of regulatory risk that may be applied to crypto?
Because I've seen the SEC making a lot of noise, the central bank, the Fed making noise, government regulators.
There was something in a recent bill that was about crypto surveillance by the IRS, new reporting requirements and so on.
Talk to us about the regulatory pressure that appears to be building against crypto right now.
Yeah, I'll just kind of pare it back to you.
I mean, it goes back to that, my two bits about Bitcoin.
I said, watch out.
If it really becomes popular, the money masters aren't going to lose control, so they're going to regulate the heck out of it.
And that's exactly what's happening.
So it's one of these things, well, you can have a free market all that you want.
You know, as long as we get to tax 95% of your gains, who cares?
It's really free.
I'm exaggerating to make the point.
But yeah, you're in a situation that's being regulated as we speak.
And there's a lot of people out there that aren't prepared for the way that this regulation will be set up, meaning you can have unrealized gains be taxed on them, which is ridiculous in our system.
And if I just might step back a moment to the fully central bank digital currency where you're where 400 million in China, one third of their population has it's cashless system, Mike.
And the only way you can pay for things is with your phone through the digital you want.
And it's not the case right now.
I don't know their tax structure.
What I do know is what they want, meaning the globalists.
The globalist bankers want a system.
There'll be no income tax.
You don't have to worry about that.
Every time you make a purchase, it'll be taxed automatically.
And again, it'll go in your carbon credit score.
So you're using this much, you know, the Globex, the global currency, whatever it is, or the U.S. Fed coin or whatever.
I don't really care if you get the idea.
But you're also eating up this much carbon because you had meat instead of, you know, an insect burger, right?
And that will be put on your tab, so you might have the money to buy a meat burger every day of the week.
But you can't because if you exceed your credit score carbon-wise, you will not be able to buy anything.
Right.
Yeah, I absolutely get that.
And by the way, I'm wondering, will the IRS allow me to write off unrealized losses?
Because I plan to lose some money in the future.
I was hoping I could take a deduction for that today.
I mean, they're going to play this game.
But getting back to the regulatory risk, a lot of advocates of various cryptos, and I'm not even talking about Bitcoin, perhaps more of the privacy coins, more of the little known coins, they would say that they perfected the peer-to-peer technology to such an extent that they really can't be banned.
Unless the government shuts down the entire internet, you can't stop people from sharing bits and bytes and exchanging essentially data with each other.
So they're always going to be around.
They may even say they don't have to comply with any rules or regulations because there's no central company to go after.
What would you say to that?
Well, there's some merit in that.
I mean, you know, you could actually have an internet down, but both people have phones that are, you know, their batteries are still working, and they could go peer-to-peer with a QR code and exchange value, if you want to call it value.
So, yeah, some of that is actually accurate, but I don't think it's meaningful enough in the large sense where it would be adopted to a point where it would be acceptable to really...
Worry the monetary authorities.
In other words, it'd be like some of these things, communities in the 30s and even right now, where these smaller communities, usually they're fairly small, modest size, have their own currency, you know, and they trade in Ithaca dollars, for example.
And everyone agrees.
Because money can just be a contract.
I'm more of the specie, God-given money, but that's my view.
And I know most of them.
I've studied money most of my life.
But it could be a contractual basis.
So as long as you and I agree that I'm going to give you a labor certificate, I worked, you know, driving your forklift around for eight hours, and I get this much of a credit to buy some stored food from me, right?
And as long as we both agree, it's fine.
And I don't have a problem with that money.
That job opening is available, by the way.
There's a labor shortage in Texas.
We could use some forklift drivers.
But I understand exactly what you're saying.
And isn't it possible that, I mean...
States like Texas, Texas used to be its own nation, with the dollar losing so much value right now, you know, inflation in the prices and devaluation of the currency, and seemingly more money printing on the horizon forever, as far as we can tell, just trillions and trillions.
At some point, do you think states or communities in the United States might just announce their own currencies?
Well, I think it's already being done, actually.
I think at a subtle level where most people wouldn't see it.
Of course, this is my take, my opinion, and my view.
But, you know, I've got a picture stored on my computer here where I was standing behind the governor of Utah years ago when he signed into law that you could use gold or silver for any transaction in the state, period.
Any transaction in the state.
And all that was required as both parties agreed.
The concept was great.
I applauded.
I was happy to stand behind it with some of my colleagues.
In fact, next to, I think, the guy that wrote the legislation.
But the issue was practicality, Mike.
And so I'd given a speech at the Silver Summit about three months later, and I said, you know, the only way that system could work Is to have a depository that held the precious metals, that was audited by a third party continuously, not daily, but every month or every quarter, and you were given a debit card that debited out your metal in the fiat equivalent.
And I had that idea, and one of my now dear friends, Dale Olmsted, came up with a gold and silverback debit card.
I've had one in my wallet now for years, but it's kind of an unknown way to get out of the banking system.
It is associated with the bank.
So you have two parts to this debit card.
You have a metals part and a fiat part.
So if my average silver price is, oh, let's call it 25, and silver's down to 2250, when I go to the gas pump, I just use it on the cash side.
But if silver's at 35 and I want to, you know, buy a gift for my daughter, I might go ahead and spend some silver.
So it's a pretty unique situation.
I think that's great.
And I have talked with you about that system before.
I would really like to talk to the engineers on your side and see if we can incorporate that into the Health Ranger store and maybe into a tipping system on Bright Town because I would love to accept payment through that system.
See, I... You know, I don't own any crypto, period.
Zero.
I do own physical gold and silver, obviously, but I would love to have the convenience of a debit card tied to physical gold and silver that's in safe, audited storage somewhere, like somewhere in America.
It's in America, yeah.
Okay, somewhere where if worse came to worse, you could drive there like, this is me, give me my silver.
You know what I mean?
That would make a lot of sense.
Yeah, I'll be happy to go further down that.
That's one place.
There's another one I'm associated with called the Load Project, and that's a little different.
There's a virtual debit card that's issued on that one, not a hard plastic card at this time.
And in both these cases, I look at it as an adjunct to physical, right?
Right.
I mean, I've been an advocate like you from day one, real metal in your hand.
But, you know, sometimes it's inconvenient.
As you said, you're in an apartment, you travel a lot, you're older, you have so much, you're a little worried.
I mean, there's lots of reasons to have a tool in your toolbox.
And I would like to suggest that you put that tool in your toolbox, which means you can debit out what you wish in metal and then maybe travel, maybe do a six-month trial, I don't know, do whatever you're going to do.
And come back and say, I want my medal and have it shipped right to you, to your office, to your safe, to your banker or whatever.
Those two solutions that you mentioned, can you share that with us so our audience can check them out?
Oh, sure.
Yeah.
I would suggest that you interview Dale Olmstead directly.
Okay.
But it's Precious Metals Vault LLC. I could get you the URL you could put in the show notes.
Okay.
And then on the load project, I think the best thing to do is go to the URL, which is ag.load.1.
I'll send that to you.
And you watch the videos.
And again, I just want to emphasize, it's a tool.
I would not recommend that, you know, for me, it's less than 10%, right?
But it's very convenient.
I have a business like you, Mike, and, you know, it's very easy for some from the UK or Japan or Australia or New Zealand, anywhere in Europe.
To send me payment in silver using the load system, which takes like, you know, less than two seconds.
It's done.
Whereas the normal wire is a big wiring fee.
And even though it should be 12 milliseconds, sometimes it's three or four days.
Sometimes the bank holds your money for a few days to get interest in the overnight markets.
They don't pay it to you.
They pay it to themselves.
Well, I... Moving down the line.
Let me interrupt you there.
And just for those listening, just in an auditory manner, load is L-O-D-E. Right.
Like the mother load.
And so the website you mentioned is load.one, spelled out, O-N-E. So load.one.
And the other one, you're going to get me the URL. We'll put that on screen.
But I wanted to mention, I mean, yes, I want to interview Dell about this as well, because we want to give people options.
But right now, about the wire transfers, banks are telling customers, and I'm hearing this from a lot of people, that they are unwilling to let the customer wire their own money out to buy metals.
I've heard this from other metals retailers that there have been cases where the banks are saying, we refuse to send out the wire.
Have you heard that?
I've heard it a couple of places in my own experience.
It wasn't for metals.
I write a metals-focused newsletter, financial newsletter.
But the bank said, are you sure you want it?
They really give them a lot of pushback.
And like, it's his money.
No, I've dealt with this guy for years.
I'm renewing my subscription, put it through, and I didn't.
So he basically told the bank, you know, thank you very much, and did it through the load project.
But yeah, there is...
I'm going to digress for a minute, but I think it fits what you just asked.
John Perez brought this to my attention.
I knew nothing about it.
There was a campaign...
Out when Bitcoin was becoming more and more popular that basically dumped gold, go to Bitcoin.
And there was actually a title to it.
I forget the exact title.
It's in one of my interviews.
I've got a good memory, but it isn't perfect.
But it was the whole idea.
And I said early in the year, Mike, this year, 2020, which we're almost at the end of, once Wall Street gets behind Bitcoin, look out, it is going to go as far as they want it to go.
Because once Wall Street gets behind something, the Wall Streeters are going to cash in to the maximum, using as much leverage as they wish, until they've pawned it off on less knowledgeable hands, and then they might just take it the other way.
I mean, a perfect example, and I'm saying example, not sure this is going to happen, Is you just pump the heck out of Bitcoin being, you know, the master of the universe and you get as many people in it as you can.
You get these 24-7, you know, internet channels saying that it's going to infinity.
It'll never end.
It's a legacy investment.
You better not ever sell it.
And then...
They get a nice system in place where you can go short, which only really sophisticated investors understand, like a very robust Bitcoin ETF that you could short the crap out of.
And now you've got pumped it all the way up.
Now you've got a vehicle to short it.
And you keep talking about how great it is as it goes all the way down.
I mean, it's like Enron, except that everybody's a believer that Bitcoin's better than gold.
And it looks like it is because the way the system is set up, it's basically how you think, not what you know.
If you know history, you know gold is God with an L in it, that it's lasted for 5,000 years.
And as far as I'm concerned, because both silver and gold are in the Bible, they probably have some merit.
I don't read about Bitcoin very often in that book.
So we're going to see what happens as time marches on.
I'm not saying, look, I hate Bitcoin.
I might sound that I don't.
I'm free market.
But I'm also saying if you own a lot of it, you've got a big profit.
You only profit when you sell.
So if you've got a lot and a big profit and it's getting near Christmas time, my suggestion would be don't get too greedy.
Love what you get.
It's all you're going to get.
And getting out before the crowd wants to get out is really a good idea.
Well, and by the way, I mean, we're going to wrap this up here in just a minute.
I want to ask you about the Morgan Report for those who are interested in following your advice.
But just a comment on that, you know, gold is, of course, an element of the cosmos, which means it's been around since very close to the beginning of the whole Big Bang, according to mainstream physicists.
The universe starts with hydrogen and then helium and then the stars explode and then you have fusion and it creates the heavier elements like copper and silver and gold and everything else, lead eventually and all that other stuff.
So, I mean, you can't destroy gold.
If you try, you can't.
You would need an atomic bomb to destroy it.
So, I mean, it's going to be here forever.
And silver, too.
I mean, I have faith in the table of elements.
I don't know about you, but it's pretty solid.
It is.
Okay, and everything else is just created by humans.
The dollar, crypto, the banking systems, ETFs, shorts and puts and calls.
Those are all human creations.
All of it.
They're abstracts.
Okay.
Enough said, but asking you then about The Morgan Report, you offer a subscription, I believe, for your newsletter.
Is that correct?
I do.
I have a free newsletter.
It's got about 50,000 people on the list.
Just go to themorganreport.com, give me a first name, give me an email, verify it, and you're on.
If you're so inclined to make money through primarily the equity market in natural resources, not just gold and silver, we've got some uranium, we've got a Asymmetric trade on, actually, e-waste, electronic waste where we reap vast amounts of gold and silver off of current circuit boards.
We have other assets, you know, copper.
We just featured copper again in the next issue.
We've been on lithium and moly, cobalt, the battery metals, zinc when it was in a shortage.
I mean, we're pretty vested throughout the resource sector.
And the way you gain leverage efficiently and with less risk, and there's risk in everything, is through top-tier, cash-rich, unhedged mining companies.
I'm talking companies that report, companies that you have profit and loss, companies that you can call up and go to, you can visit their mindsets.
That's where big money goes in big companies.
Media money goes into mid-tier companies where you have an actual mine or near production with a lot of exploration potential, so you've got a steady cash flow, but also a lot of upside because they've only explored one-tenth of their projects, for example.
And I would be out of business, Mike, if I didn't do what the whole industry does focus on, which is these Penny dreadfuls.
These penny stocks, for the most part, some are very good and some will make you a fortune.
That's all you ever hear is the 12 cent stock that went to 120 bucks.
For everyone that does that, that's one out of 4,000.
The other 3,999 go to zero.
I'm exaggerating, but I'm trying to say there's extremely high risk.
You only hear about the good side of that coin, not the bad side.
I do speculate in those with money you can afford to lose, and I'm better at it than most, but I'm not perfect because some bars have gone to zero.
But if you take the approach I've given you, money you can afford to lose, and you've got the 10 that I recommend, and two or three do that 10-bagger, 20-bagger, 30-bagger, you really don't care too much about that one that went to zero.
If and only if you follow the outline provided to paid subscribers called how to use the Morgan Report.
The people that can outthink me and outdo me and tweak it and twist it and make it their own, and that's fine.
But I'm the one with the gray hair over 40 years in the markets, and I give you the straight-up best way to do it.
The problem, I think, with a lot of investors, especially new ones, is...
They want to get there in a hurry.
You know, life's a fairly long road, and you should enjoy the journey and not make money your prime focus.
See, that's what I love about your entire philosophy, David, is that you have a lot of wisdom that comes with this, where so many of today's youth, people in their 20s, even though they have many years still to live, they're always in a hurry.
They think they have to be billionaires by age 30, which is pretty crazy.
I had one guy...
Talking to me, I don't know, a few months ago, and he said, you know, I bought 10 ounces of gold, like you said, and I put it in my closet, and then the gold price went down, and I feel like I'm losing.
And I said, dude, open your closet.
Is the gold still there?
Yeah, it's still there, but you haven't lost anything.
You have the gold.
See, they've twisted everybody's minds into thinking that the dollar is the anchor of value.
Right?
It's crazy.
It is.
And it's only us that...
And we look crazy to 99.9% of the people because that percentage or near it has been brainwashed.
I mean, when I did the movie The Four Horsemen, which is on my website, go to the morningreport.com and go to the About section, get past my pretty face, just scroll down and look at the free movie called The Four Horsemen.
It goes through all of this in great detail.
But the whole idea being that the cognitive map, how people think is the most powerful financial tool.
If you can make every belief that Bitcoin good, gold bad, guess what?
May not be the truth, but that's what the market will react to that because you brainwashed or you've gotten your message across to enough people to take action that I don't want this shiny thing that's lasted 5000 years.
That's an element.
I want to get this thing that's ethereal that you can't touch.
You can't trade other than electronically.
If the grid goes down, you got a problem.
If your phone's battery craps out, you got a problem.
If you're in Mt.
Gox, you had a huge problem.
I had one of my guys write me, and I'm sorry I digress, but it's important now.
And he said, you know what, David, I had a lot of quote-unquote money, and I really follow your work, and I know you're pretty conservative, and I like your approach, and I had a fortune in Bitcoin until my Mt.
Gox account went away.
So this can happen.
Yeah, yeah, and that was a few years ago.
Imagine what the stolen Mt.
Gox coins would be worth today in the Bitcoin universe.
I mean, that would be really something extraordinary.
But then again, it's not worth anything until you sell it.
It's just a shared spreadsheet somewhere.
Okay.
Well, David, it's been fascinating.
I want to thank you for sharing your thoughts with us.
I want to encourage people to check out your website, themorganreport.com, and also check out your new video channel on brighttown.com, where you're posting the Crypto Conspiracy video series with John Perez.
I encourage everybody to watch that.
The videos are quite short.
So it's easy to watch, but it's filled with astonishing, jaw-dropping investigative information.
So thank you for putting that out, David.
My pleasure, Mike.
Thank you again for having me on Brighteon TV and brighteon.com.
Absolutely.
Happy to have you on.
And thank you for watching this today.
And as always, feel free to repost this video on your own channels or other platforms as well.
We want to get the word out about all of this.
We welcome ideas and discussion about all of this.
And the bottom line is no matter what you choose for your own personal investment decisions, Think about the counterparty risk.
What happens if the other side of the trade goes bad?
And that's the primary advantage of precious metals or even owning land, for example, is it's hard for people to take it away from you.
Not impossible, but it's very difficult.
So thank you for watching today.
I'm Mike Adams, the creator of Brighteon.
I want to say God bless all of you.
Get prepared.
We're in for a financial rollercoaster.
Take care.
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