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June 1, 2022 - Health Ranger - Mike Adams

01:03:17

Andy Schectman warns Mike Adams: The dollar DIES when energy exporters ABANDON the petrodollar statu

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	The fact of the matter is, is that if they do that, if they come back in and reverse course because everything is being crushed, the whole world will realize we're stuck.
	We're trapped.
	We can never raise rates again, which means we will do what all governments have done Since the beginning of time, and that is choose monetization, choose inflation over austerity and tough decisions.
	And I think that's the path that unfortunately they realize they're on.
	And I think this is why they're jawboning.
	And I think if you take a step back and look at what I'm about to tell you, you'll see that maybe, just maybe, some of the things that I'm about to talk about are intended.
	That they're actually orchestrating what could be the Great Reset.
	Welcome to the Health Ranger Report here on Brighttown.tv.
	I'm Mike Adams, the founder of Brighteon, and I built this platform so that we can bring you the kinds of conversations that you're about to see.
	First time guest with us, but someone I've been a fan of his work for quite some time.
	His name is Andy Sheckman, and he's with Miles Franklin.
	He's the CEO of Miles Franklin.
	And I actually first caught sight of him on the Liberty and Finance channel that's been posting videos on Brighteon, and I heard...
	I was like, wow, this guy gets it.
	He makes total sense.
	He understands what's happening in the world.
	So I invited him on.
	He agreed to come on.
	We're going to get to ask him some fascinating questions for the next 30, 40 minutes or so.
	So just stay with me here.
	We're going to be back with Andy Sheckman, CEO of Miles Franklin.
	We're going to talk about gold, silver, Fed, interest rates, treasuries, economy, global currency risks, and much more.
	We'll be right back after this break with that interview.
	Alright, welcome folks.
	Welcome back to the Health Ranger Report on Brighttown.tv.
	Now, today is not a topic of biological health, but rather financial health, which they seem to go hand in hand too, because if you get sick and you need help, you need to purchase something, you better have some assets in order to do that.
	And to have assets, you need to be able to protect those assets.
	And so our guest today, Andy Sheckman, the CEO of Miles Franklin, he is truly, I believe, an expert in helping you learn how to protect your Your assets using precious metals.
	So, Andy, thank you so much for joining us today and agreeing to the interview.
	It's great to have you on.
	Great to be here, Mike.
	I appreciate it.
	I'm a fan of yours as well.
	Been following you from afar for quite some time and good to finally connect and very, very happy to be here.
	Look forward to it.
	Well, this is what's wonderful about free speech platforms like Brightown is that people like you and I can find each other and connect and then actually get together and have a conversation like we're doing right now.
	But let me just throw this right at you first, because I know you do a weekly interview, I think, with the Liberty and Finance folks, Dunnegan and Elijah.
	Are you always interviewed by Dunnegan or Elijah, or does it vary?
	It's almost always Donegan.
	When we do live stream podcasts, it's Elijah.
	I have worked with them for about three years now, and Elijah used to run my YouTube channel, which is somewhat dormant right now.
	Okay.
	I work with Donegan, and so Donegan and Elijah are representatives of Miles Franklin in the respect that they are independent outside reps, Selling precious metals through my company and Donegan and I get together and have a weekly market roundup, so to speak, every Tuesday and talk about current events and what's going on in the metals market and typically issue some sort of a special each week for his listeners.
	I see.
	Okay.
	So let me start with big picture because right now I think more people in our world have awakened to the importance of having assets outside the traditional banking system.
	I think this was underscored by Canada attacking the bank deposits of people who donated money to the Freedom Trucker Convoy.
	That was a wake-up call.
	Would you agree that that kind of shook people awake in a big way?
	It did.
	I think it exposed the The strength of a government's ability to usurp the rule of law, to make retroactive a legal donation through GoFundMe to a cause, illegal, and freeze people's assets as a result of it.
	And it's very reminiscent to me of the decision to kick the Russians out of swift.
	When you weaponize a currency, When you weaponize a system, there are unintended, or maybe even depending how you look at it, intended consequences.
	And those being, you incentivize people to find other ways, other pathways, safer routes and channels that would not leave you susceptible to these type of fascist types of decisions.
	And yeah, we have a very robust storage program in Canada, and I would say, $50 million worth of product left Canada into our U.S. vaults as a result of it.
	So I'm very aware of it.
	I think it was a horrible decision, and hopefully it gets Trudeau thrown out of office in this next election.
	I think it was absolutely horrible.
	Yeah, well, I think most of our listeners would agree on that.
	Now, but the other thing that happened was There was a rush out of traditional banking systems into other assets, and some of those assets, in many people's minds, included crypto.
	And even in my own mind, I said at that time, gosh, you've got to check out privacy coins.
	And I specifically said, not as speculation.
	This is not a store of value, but this is a transactional technology that you need to understand.
	And I mentioned privacy coins like Monero, for example.
	Recently, the stablecoin known as Luna or Terra Luna has collapsed.
	I mean, utter collapse.
	And crypto has tanked something like $200 or $300 billion in terms of total valuation in just a short period of time here.
	So my question to you, sorry about the long question, but my question to you is, what is your stance on crypto and the claims that crypto was digital gold, or do you think people are now realizing that crypto is not digital gold because gold isn't digital, that's the thing that makes gold gold, or do you disagree with any of those assessments?
	What's your take?
	Well, no, I don't.
	First of all, I mean, you look at the crypto market cap went from over $3 trillion to $1.2 trillion recently.
	I don't know if it all has to do with the drop of a UST in Terra, but the bottom line is that it is not gold.
	In the example of...
	The UST coin that was supposedly a stable coin.
	This was a coin that was pegged to the dollar, supposedly, at a one-to-one ratio, yet it wasn't really using dollars.
	It was using Bitcoin and Terra and an algorithm to keep it in line with the dollar.
	And when Bitcoin started to slump, they had to create more Terra in order to back the peg that they had and on and on and on.
	And the massive creation of Terra ended up dropping it from $80 a coin about 10 days ago to zero, where it is right now.
	If you were worth a quarter billion dollars in Terra 10 days ago, you're worth about $25 today.
	I think they were both born, the mentality, they were both born from the same cloth.
	But here's the deal.
	You kind of touched on it.
	I look at precious metals not as an investment.
	To me, gold and silver are wealth.
	They've been wealth for over 5,000 years.
	And when kings and queens and emperors and pharaohs owned it, they didn't call their gold dealer to purchase an investment.
	They bought it because, or owned it rather, because it was a form of immutable wealth That was passed on through generations.
	And so I think where there's a disconnection is that while the mentality or the understanding of fiat currency and looking for alternatives to fiat currency are similar, I think the motivation that most of the people I talk to who own precious metals versus cryptocurrency diverges.
	Because I think if you buy precious metals to get wealthy, you're making a mistake.
	And be careful what you wish for.
	Because when gold and silver fully express themselves, it will come at the expense of the dollar and everyone around you who you care about.
	Cryptocurrencies in many respects have...
	Have boomed and blossomed not only because of their popularity and the desire to make money, but also the proliferation of Wall Street and Wall Street's interest in, through hedge funds and whatnot, into micro-strategies, as an example.
	These big, big companies who own billions of dollars worth of cryptocurrencies.
	As an investment, which has, in the face of 60% of every dollar ever created in the history of this country being done in the last two years, a lot of that has found its way into assets such as cryptocurrencies, created a, I don't know if you want to call it a tulip ball mania.
	I don't know if you want to call it a speculative bubble.
	Because I think in many respects, Bitcoin and Ethereum are for real and here to stay, but there are a lot of coins out there.
	You know, Terra was a top 10 cryptocurrency not too many months ago, and all of a sudden it's gone.
	I think the difference is that one has last and stood the test of time.
	One hasn't.
	One is very speculative and can make you very wealthy very quickly.
	But on the other hand, you can see what happens if the market turns against you.
	Gold and silver will never go to zero.
	So they're cut from the same cloth, but I would put them in vastly different portions of my...
	My pyramid of my portfolio, the base of my pyramid would be physical gold, the very top 10%, which is speculative, where you don't care if you lose at all.
	But if you hit a home run, you make more than the whole 90% below it.
	That's your cryptocurrency.
	You've hit upon so many important issues.
	Let's dig into some of these.
	One is that a lot of the money printing, the quantitative easing, you know, the Fed's liquidity that's been pushed into the markets has in effect flowed into cryptocurrency markets, creating a kind of crypto bubble.
	And I think the recent downturn in the markets Correlated very strongly with downturn in crypto, which underscores the theory that you just laid out, that these are, in fact, very strongly correlated.
	When the Fed raises interest rates and you start destroying liquidity in traditional markets, then people get margin called and they will sell crypto to meet their margin calls in traditional markets or vice versa.
	They're getting margin called out of Bitcoin as it plunges below 30,000.
	So they may be selling traditional stocks and bonds and so on in order to meet their crypto margin calls.
	So these are moving together, which is actually More risk.
	Absolutely.
	You look at the case of MicroStrategy and Michael Saylor, I think he took out a $200 million loan, I believe was the number, somewhere in that neighborhood, to buy Bitcoin.
	And if it drops below a certain level, he'll get a margin call.
	And I think that level, if I'm not mistaken, is somewhere in the 20-ish thousand dollars.
	Now again, I'm not exactly up to speed on all of the Bitcoin workings, but I do know that he's a prime example.
	This is a guy in his hedge fund who has billions of dollars worth of Bitcoin, and a lot of it bought on margin.
	And if you see it move against you, the rapid selling It's exactly what you would see a Terra type of moment, where the rapid deleveraging and selling.
	You know, in Austrian economics, this is called the crack-up boom, where you have a massive expansion of credit, which creates misallocations of capital and resources and difficulty in finding price discovery.
	And so if you pull all of that credit out and...
	You see a deleveraging, you see a contraction of credit, and you see things start to fall in margin calls.
	The acceleration on the downside will be blistering.
	So yeah, I think exactly that's a big, big, big part of it is that money that has been created.
	A lot of it went to hedge funds.
	And those hedge funds would take the money, borrow it at next to nothing, and pump it into things.
	Like real estate investment trusts are buying up houses in large swaths all around the South.
	So you're not competing with mom, pa anymore to buy real estate.
	You're competing with a hedge fund who buys like this with cash and no loan.
	You see them pummel it into...
	Nasdaq stocks and into the Dow and the S&P and into cryptocurrencies, indiscriminately blowing these asset classes up, you know, double, triple, quadruple in many cases, many times.
	And that liquidity that was more or less free, free money or very...
	Very inexpensive money, borrowed by people who didn't need it, who were able to leverage that into asset prices that went parabolic, enriching them many times over, not only in the underlying asset price, but in their bonuses associated with the companies they work for.
	this has created a very big problem when you pull the needle out and you stop giving that monetary heroin.
	And, you know, you look at anyone who's ever had to go through rehab, who's been involved with that, you know, they always talk about going through withdrawal, very painful, awful, physical withdrawal.
	Well, that's exactly what's going to happen to the economy and to these markets, if indeed the Fed is true to their word.
	And I'll tell you, Mike, I don't know that they are, And we can talk about it.
	Yeah, me neither.
	They're jawboning.
	I think they're bluffing.
	And I think that they have created an environment, perhaps, where the market is going to do it for them.
	And I'm sure we'll have an opportunity to chat about that as well.
	Well, yeah, let's get into that.
	But first, just to respond to what you just said, so I always tell people that forms of virtual wealth, and virtual wealth is all crypto, except maybe some actual physical bullion-backed coins.
	Virtual wealth is stocks and bonds.
	I mean, it's digits on a screen.
	Even a bank account is a virtual asset.
	It's not real compared to precious metals, which are real.
	But people misunderstand where wealth comes from when you're dealing with virtual assets.
	So I think what people don't realize is that in crypto, everybody who holds the coins believes simultaneously that all of their coins, no matter at what price they were purchased, are worth the same as the last coin that was purchased.
	And so, but and that's true in stocks.
	I mean, look at what Coinbase just said.
	Coinbase, the largest crypto exchange in the United States, lost $430 million in quarter one.
	And they blamed it on low trading volume.
	So watch what happens if things really get slow.
	And they said, in the event the crypto exchange goes bankrupt, they use the B word already, they say that Its users might lose all the cryptocurrency stored in their accounts, too.
	Now, how does that happen?
	Because it's rehypothecated, where they, I own a crypto coin, I own Bitcoin.
	Coinbase, and so do you.
	And we both think we own the same coin.
	And maybe 27 other people own it, too.
	Or they lent it out for whatever reason.
	The point of it is that you have counterparty risk that I think is, unless you take possession, take your keys and hold them yourself, there's going to be a lot of pain.
	But you're seeing the exact same thing with banks talking about bank bail-ins and with money markets talking about We are entering a period of time where the leverage and the undercapitalization of the exchanges and the markets and the banks, if we see things start to deleverage, it's going to create a lot of problems.
	And it's exciting on the way up and it's frightening as hell on the way down.
	Well said.
	Yeah, yeah.
	The thing is, on the way up, in bubbles, traders conflate the bubble with their own internal sense of self-genius.
	So they think they're brilliant.
	You're just riding a bubble, and then the bubble can turn against you.
	But I always tell people, virtual assets don't count until you sell them.
	Until you convert them into something that's actually real.
	So, for example, on the same day that Terra crashed, well, the Luna coin crashed, I woke up and I looked at my desk and I've got a stack of ten silver coins, one ounce, you know, silver eagles, sitting there, and I just mentally noted none of that silver vanished.
	It's still there and it's not going to vanish.
	You know, I think that's something that will take on a much greater significance when things start to get hairy is counterparty risk.
	You have so much systemic risk because everything is interconnected.
	When you see Fed Chairman, not Powell, Not even Janet Yellen, the predecessor.
	It would have been...
	What was his name?
	Well, I guess it doesn't even matter.
	When we go back to the great financial crisis, I can't even think of his name right now.
	But in any case, when he came out and said, look, we were staring into the abyss if we didn't bail out AIG. AIG was the reinsurer of all of these banks.
	Oh, you're talking Greenspan days?
	No, I'm talking about...
	Yeah, it doesn't matter.
	The bottom line is that there's a systemic nature to all of this.
	And the systemic nature is that, you know, one goes down, it can pull down many, many others with them, the way that things are nowadays.
	And so, yeah, I think counterparty risk is going to take on a very significant role.
	If you can mitigate and minimize counterparty risk in your With your assets, you're way ahead of the curve.
	And that's one of the things about gold and silver that I think is often overlooked is the removal, totally, of counterparty risk.
	And I think you have a better chance nowadays of being ripped off from the system and the markets than you do from a burglar knowing that you have some gold and silver hidden in your home or stored away at a depository.
	Yeah, this is absolutely a really important point.
	I'm glad you brought it up.
	I've explained it that someone can steal from my crypto wallet if they can guess my password or hack my system.
	But if they're going to steal my gold, they're going to have to dodge bullets.
	Right.
	Or dodge my dogs.
	I mean, it's a physical endeavor that carries inherent risk in the mind of the thief.
	That is a far more risky thing to jump into some ranch in Texas, in my case, and maybe dodge gunfire to try to steal gold.
	Whereas just hacking somebody's account online can be done remotely, even from different countries.
	Everything that everyone owns, other than their real estate, It's digits on a server.
	It's digits in the computer.
	You know, your stock portfolio, your bond portfolio, you don't have bearer bonds anymore.
	You don't hold the physical stock certificates anymore.
	You know, during the pandemic, the banks were allowed to relinquish all capital reserves.
	So they are way overleverage, way undercapitalized.
	And if everyone runs to the bank to pull their money out at the same time a bank run, they go bankrupt because they are woefully undercapitalized.
	And so everything is digits on the screen.
	And when you talk about having physical possession of something, it's very unusual for most people.
	It's something that most people don't have.
	And if the system went dark, if there was, a lot of people say, an electromagnetic pulse that went off, an EMP, and all of a sudden, bang, the internet's gone.
	I mean, and you can't access an ATM. Where are you going to get any money, anything that isn't...
	What are you going to trade with?
	What are you going to barter with?
	And let's hope that never happens.
	But the point of it is that we are so beholden right now to a digital universe that mitigating your exposure to that type of system is not a bad idea, I think, arguably, for the road that we are traveling down right now.
	I agree with you.
	And there's a cyber hacking group out of Russia called KillNet that just yesterday announced they're going to attack US infrastructure, including financial infrastructure.
	I don't know what their capabilities are.
	They might be bluffing or they might be the world's best hackers.
	Who knows?
	But I guess we're going to find out at some point.
	Real quick, just to that point, you remember what happened in 2019 when the World Health Organization and Bill Gates and all these guys got together and simulated a pandemic of a coronavirus.
	Now, it wasn't COVID, but it was a coronavirus pandemic that they simulated in 2019.
	And lo and behold, a few months later, we had one.
	Now, I'm not saying this is anything more than coincidence, but this same group about four months ago Along with the U.S. Treasury in 13 countries from around the world simulated a global cyber attack.
	And, you know, it's a weakness.
	A world that is so reliant upon electricity and upon digital and upon Internet.
	There's an inherent risk to having everything in that one ecosystem.
	So, yeah.
	And actually, NASA has put out reports on the risk of large-scale solar flares striking Earth, Carrington events.
	Magnetic pulse right there.
	Exactly.
	And if I recall correctly, NASA put the risk of Such a large civilization ending event at 12% every decade.
	That is a very high risk for the destruction of all electronic assets, at least as we understand it.
	I mean it's roughly about 1% per year.
	But the catastrophic results, if that happens, are a total wipeout.
	Look, let's hope those kind of things don't happen.
	But, you know, I think the last few years have proven that the unthinkable can happen and things that we never thought possible can happen.
	So when you see this group of people who, in many ways, I have disdain for come out and say this is I take it very seriously.
	Just like I take it seriously up your alley when we see, you know, Bill Gates again and our president tell us that food shortages are going to be real.
	And I see 18 food processing plants burn down in the last 12 months.
	And I, you know, I see the largest pork producing plant in the world or in the United States owned by China.
	And, you know, I think that when you talk about Yeah, I should have listened.
	I should have trusted my gut.
	I thought about that.
	Why the hell didn't I do anything about that?
	I completely agree.
	We've got to wrap up this segment for Brighton TV. Let me just give out your email address so people can reach you.
	It's info at milesfranklin.com.
	It's spelled just like it sounds.
	And that goes directly to you, Andy?
	The info at Miles Franklin goes right to my operations and I will be either myself or one of my brokers whom I have trained myself over the last 33 years will be in contact with you with an up-to-date inventory and answer any questions that you have.
	Absolutely.
	And we appreciate you being available to people.
	And please stay with us, Andy, because we're going to do an extended interview now.
	For those of you watching on brighttown.tv, you can hear the rest of this interview.
	I've got more questions for Andy Sheckman, CEO of Miles Franklin, in that extended interview that will be on my channel at brighttown.com.
	Thank you for watching today, everybody.
	Take care.
	Alright, now we're just going to do the extended conversation.
	Thanks for standing by, Andy.
	Because I've got a lot more questions for you, by the way.
	So one question is about the paradigm that people are so dollar-centric in their paradigm that when they think about gold, they usually think about gold valued in dollars, which I always think is a huge mistake.
	So they think about, oh, they buy gold and then, oh, the price went down and they feel sad.
	And I tell them, look in your safe.
	Did the gold disappear?
	No.
	You have the same gold.
	The value is the same.
	The dollar is moving up and down.
	In fact, the dollar is getting destroyed and gold is a discount right now, probably compared to where it should be.
	But how do you help people shift that mindset to understand that gold is ounces?
	It's ounces of elements.
	It's interesting, because on one hand, you're right, the dollar is being destroyed, and I hope we get to talk about that.
	It is being destroyed on many levels, yet when you look at it against other currencies, it's really strong against the Dixie average, and You know, 104, 105, or whatever it is.
	So an easier way to understand that is that gold is at all-time highs in most major currencies right now.
	It's that the dollar is the prettiest mare in the slaughterhouse, as Doug Casey is famous for saying.
	It's the nicest house in a fire sale neighborhood.
	And that's exactly why it is distorted.
	But yeah, I think that I think that a lot of people bought precious metals for the wrong reason over the last few years, and that was to get wealthy.
	Gold is wealth.
	It's been wealth for 5,000 years or longer, and I think it's important to realize that be careful what you wish for, because when gold and silver really do express themselves, and I do expect them to do that, When the dust settles, it will come at the expense of the dollar.
	You made a very important point, and that is gold and silver aren't rising.
	It's the dollar that rises or falls.
	And I think that's really an important distinction.
	I'd like people to think of the dollar as being the water inside of a giant bathtub.
	And the water is all the way up to the ledge, and gold is sitting right on top of the ledge of the bathtub.
	And when you pull the plug on the water and the dollar starts to dissipate, it's not gold that's getting more expensive.
	It is the dollar that is losing value precipitously.
	So when we talk about the dollar being crushed, it is.
	It's being destroyed through the printing press.
	It's not gold that is going up in value in all of the other currencies.
	It's that the dollar is stronger right now than all of the other currencies because they're all fiat.
	But what I see coming is that switch very, very quickly.
	And I think we should talk about that.
	Yeah, yeah.
	Let's talk about that next.
	But quick comment.
	I'm really glad you pointed this out because you're right.
	Compared to other fiat currencies around the world, the dollar looks really, really strong because I think there's a lot of flight away from other currencies that may appear more risky to the dollar.
	Which is still currently the petrodollar global reserve currency, but perhaps not for long.
	I'm going to ask you about that.
	And yet, what I encourage people to do is compare the dollar to groceries.
	Compare the dollar to gasoline.
	Compare the dollar to housing or used vehicle prices or commodities like copper.
	And there, because that's real.
	That's real stuff.
	You've got to eat.
	You've got to have a roof over your head.
	You've got to drive a car.
	You've got to put gas in the tank.
	That's real.
	And in all of those metrics, the dollar is collapsing.
	There's no other way to state it.
	It is collapsing, especially in the last 12 months.
	I mean, it's just a collapse.
	What are your thoughts?
	Well, my thoughts are that it's collapsing more than people realize.
	John Williams of ShadowStats, I know you know who he is.
	He's a very nice man and a very smart man.
	And he doesn't do anything extraordinary other than he calculates inflation and he calculates unemployment the way that it used to be.
	calculated prior to 1980 and then again in 1990, where the government changes the metrics by which they measure unemployment and by which they measure inflation to fit their agenda.
	So if we look at inflation calculated the way that it was prior to 1980, I mean, they've stripped out food, energy, and housing in the core CPI that are most inflated, right?
	They stripped out, they tell us inflation is just under 9%.
	John Williams will tell you it's 18%.
	And so when you talk about being, looking at it in terms of goods and services that you can buy here domestically, it is a good indication.
	And it's much higher than 9% that they're telling us it's It's double digits in terms of how much food is going up.
	And gasoline, I just read today that gasoline in California averages over $6 a gallon right now.
	And you're seeing it in eggs, most expensive and expensive.
	You know, forever and everything is just going through the roof because of massive money creation.
	You see, rising prices are not inflation.
	Rising prices are the symptom of inflation.
	Inflation is an increase in the money supply.
	Yes.
	And they have blown it up.
	And that's partially that inflation that we see.
	Wait until the inflation comes out of assets.
	Looking for a safe haven or looking for somewhere to go, you will see much broader based inflation.
	Right now, a lot of that inflation is centered in the financial assets where houses have doubled in a year.
	It doesn't It's not supposed to work like that, where stock portfolios have doubled or tripled in the last couple of years.
	But look at the Federal Reserve's balance sheet.
	In 2008, they should have just let Mother Nature take over.
	They didn't.
	And in 2008, the Federal Reserve's balance sheet was $800 billion.
	It's now $9 trillion.
	And they have kept interest rates at or near zero for 12 years.
	And so long before inflation has showed itself here in the real economy, as we're beginning to see, it's shown itself in financial assets.
	Cryptocurrency is included.
	So when the Fed tells us we're going to get tough on inflation, I call BS. Because if you have 9% inflation calculated by a faulty measurement that excludes things that are really inflating that everyone needs to live every single day...
	And you raise the federal funds rate to only three-quarters of 1%, or 50 basis points from 25 basis points.
	So 100 basis points for your listeners out there means 1%.
	So when they raise it 50 basis points, they raise it a half a percent.
	The federal funds rate is three-quarters of 1%, but inflation is at 9%, even though it's really 18%.
	So it's spitting in the ocean.
	That means that your real return When you factor the rates that you're getting minus inflation is negative 8.25%.
	Compounding per year.
	So on a 10-year treasury right now, let's call the 10-year treasury at 3%.
	And 9% inflation, your rate of return on a compounding yearly basis is negative 6%.
	We are a long ways away from doing anything about inflation.
	They tell us they're going to sell off their balance sheet.
	Number one, they're really not selling anything.
	They're just not buying new treasuries.
	And as they expire, they're letting them roll off and they're not renewing them.
	But those treasuries will hit the market.
	To the tune of 60 or 80 billion a month, so they say.
	But if they were so concerned about it, why are they waiting till June to do it?
	Why not do it yesterday?
	And why not really take a bite out of it?
	Instead of raising rates 50 basis points, how about raise it 500 basis points?
	You'd still be basically half of what inflation is by their own faulty measurements.
	Paul Volcker, in 1980, with double-digit inflation, raised the federal funds rate to 19.75%.
	Bang!
	Stopped inflation in its tracks, killed the gold bull market as well.
	But if they do that, They know that if they do that, it's Armageddon in this country because all of that money that's blown up all of those assets at the lowest interest rates ever recorded in human history have created massive bubbles in stocks, bonds, and real estate.
	Now, when I started in this industry, Mike, stocks and bonds were inversely correlated to one another.
	This is why you see a 60-40 split in traditional investments, in pension funds, in anything.
	The financial advisory world says 60% stock, 40% debt.
	And as you get older, you transition from stock to debt.
	It used to be called risk on, risk off.
	The government debt, the bonds, is considered, has been for 50 years or longer the safest investment on the planet.
	So you transition...
	To government bonds as you get older.
	But the thing of it is that the bond market, because interest rates have been held so low, the only way it goes higher is if interest rates go nominally negative.
	The difference between nominal and real.
	Nominal rate right now on the Treasury is 3% in the 10-year, but the real rate, when you factor inflation, is negative 6.
	If they went nominally negative, because that's the only way, or nominally negative on the federal funds rate, But you see the bond market grow because it moves inverse from the direction of interest rates.
	You know, that's not going to happen with the world reserve currency.
	So you have stocks and bonds at all time highs.
	The bond market at the end of a 30-year bull market, the stock market at all-time highs, and the real estate market at all-time highs, and they are all inversely correlated to what?
	A rise in interest rates.
	So they're jawboning.
	They raise rates 50 basis points, and the mortgage, 30-year mortgage, is nearly doubled because the market is doing it for them in some of these respects.
	What happens if they raise rates to 5%?
	And the 30-year mortgage goes to 8% or 9%.
	That would mean that the cost of borrowing money in the last year or two has tripled.
	And what does that do to the real estate market?
	This is the very beginning.
	Well, just as you said, the mortgage rates skyrocketed following that 50 basis point increase.
	But then the quantity of new mortgage applications plummeted.
	Of course, inverse relationship.
	But I mean, major lenders, I think Wells Fargo was laying off actual, you know, mortgage application handlers.
	And new mortgages have collapsed.
	And also refi has collapsed right now.
	And as you said, that's just 50 basis points.
	Whereas if the Fed wants to really take a bite out of inflation, they need to be talking, you know, a thousand basis points, perhaps, or something.
	Think about it.
	What is refi?
	You know what refi is to me?
	It's an ATM machine.
	Your house has been an ATM machine for the last 12 years.
	Why?
	Because I want a new wave runner.
	I want to take a trip to Tahiti and I want some flat screen TVs.
	And how can I do that?
	I know I'll take out a home equity loan because, geez, my house has gone up so much and interest rates are so low.
	We can pull out $25,000, refinance, and guess what, honey?
	We can pay less than what we're paying right now.
	That Those low interest rates, they incentivize people to go into debt.
	They incentivize people to spend.
	And what is Keynesian economics?
	It is debt.
	It is consumption.
	It is spending.
	It is taxation.
	It is the antithesis of Austrian economics, which is growth through savings, investment, and reinvestment.
	But these low interest rates have incentivized people to do things like home equity loans, which this all stimulates the economy.
	It's It's stimulation through low interest rates because people are more inclined to spend, businesses are more inclined to expand, and to take on greater risk and capital expenditures and hire new people.
	Yes, but the money is cheap.
	When that changes, it all stops.
	So let's talk about that point, because I think you've laid out very well, in a lot of detail, the case for what happens with basically low-cost money, expansion of debt, expansion of capital liquidity, and this is what we've witnessed now for a long time, really several decades.
	But now...
	We seem to be reaching a point where this can no longer be continued.
	And you mentioned the word Armageddon.
	I'm going to call it financial Armageddon if all of this unwinds.
	But the Fed, it seems, I think what you're hinting from what you're saying is that the Fed cannot commit to raising rates much more because they will collapse this entire system if they do, which means, in effect, hasn't the Fed chosen the path of hyperinflation ultimately? hasn't the Fed chosen the path of hyperinflation ultimately?
	So the market hasn't caught on to that yet.
	And if they did, gold and silver would be much higher.
	The market still thinks the Fed will be able to engineer a soft landing.
	And it's because most people don't pay attention.
	Most people are working so hard to make ends meet, they come home, they're exhausted.
	and they don't have time to sit and watch your YouTube or watch me and to learn and to enrich themselves.
	They watch the evening news, which doesn't tell us anything.
	Hopefully in a few minutes, I'm going to tell you a linear pattern of things that have happened that I guarantee you most of your listeners have never heard of.
	And yet they are the biggest events of my career and of our lives hands down.
	And so people still think the Fed will engineer this soft landing.
	But what you are basically saying is that the Fed is trapped.
	Now, here's what happens.
	It If they do raise rates high enough and they do stay true to their word and we do see that type of market reaction, I think Las Vegas would put odds at 60% or 70% or better that the minute things really start to crater, they reverse course, come back in lower rates and stimulate and monetize again.
	And that's what a lot of people think will happen at that point.
	They have signaled hyperinflation and the end of the dollar.
	They have lost their options.
	When they have pushed interest rates to such low levels, the tools in their monetary quiver have become next to nothing.
	The Fed, really, all they can do, in reality, is control interest rates through buying bonds, the short-term interest rate through buying bonds.
	And I think that...
	The fact of the matter is that if they do that, if they come back in and reverse course because everything is being crushed, the whole world will realize we're stuck.
	We're trapped.
	We can never raise rates again, which means we will do what all governments have done Since the beginning of time, and that is choose monetization, choose inflation over austerity and tough decisions.
	And I think that's the path that unfortunately they realize they're on.
	And I think this is why they're jawboning.
	And I think if you take a step back and look at what I'm about to tell you, you'll see that maybe Just maybe.
	Some of the things that I'm about to talk about are intended.
	That they're actually orchestrating what could be the Great Reset.
	You know, you have this Klaus Schwab fool who says, Great Reset, you'll owe nothing and be happy and you'll rent.
	And I laughed when I heard that in 2019.
	I said, come on.
	But let me tell you something, Mike.
	Honest to God, the more I think about it and what I'm about to lay out for you here...
	Makes me believe that it's highly possible, maybe even probable, that it's true.
	And they have a plan on how to make it happen.
	And, you know, if you got a good 10-15 minutes, I can take you down a linear path, a progression of events that have me saying, how is it that even something that I watch all the time, I watch Fox News, I like it, We're good to go.
	Well, I do.
	I do want you to go through that list.
	But first, the scenario that you've just described, I'm going to call it the Venezuela option, which appears to be that's what's being chosen.
	Now, a couple of things to add to it.
	JP Morgan analysts just announced that the average gasoline price in America is going to be $6.20 by August.
	And that's an average, which is currently only in the $4 range.
	So they're looking at a near 50% increase in gasoline, not diesel, but gasoline.
	Diesel's already sky high, and we're looking at diesel rationing.
	Food prices.
	You probably saw the FAO out of the UN. They're tracking month-over-month food price increases.
	February to March was 12.6%.
	That's one month.
	And it was a little bit lower, March to April.
	But if you're in even 5% to 7% range month over month, you know what compounding does.
	Your food prices can very easily, well, at 7%, they're going to double in what, 10 months, right?
	So in one year, food prices can double, and it looks like that's on track to happen.
	This is going to get very ugly in the perception of the uninformed masses who, I mean, I'll say it, maybe you won't say this, but there is financial illiteracy at a level that is just horrifying across our population.
	I agree.
	And when you talk about financial illiteracy, let's just talk about the statement that you just made.
	You said at 12%, you know, food doubles in six or seven months.
	Most people don't understand what you mean there.
	What you're talking about is the rule of 70 seconds, where you take the interest rate that you are paying or charged or are dealing with and divide it into 72.
	It's mathematical law.
	Tells you how long before your principal doubles.
	Well, at 12%, 12 times 6 is 72.
	So am I right on that?
	Yeah, yeah, yeah, you're correct.
	72.
	So six months cost of food doubles.
	Well, you know, people are not receiving double their salary every six months.
	So the cost of living is vastly outpacing the pay that people are getting.
	And this is creating a problem when you realize that somewhere between 70% and 80% of every single person in the United States is living paycheck to paycheck, where most people can't write out a check for $500 to fix a flat tire or whatever it is.
	This is a problem when the cost of Gasoline is rising to $6 on average, which means it'll be $9 or $10 in some parts of the country and maybe $5.5 in other parts of the country.
	But if it's going to average $6 and food is going to double in six months and they're rationing diesel fuel on the East Coast this summer, what does that mean to the supply chain problems?
	I don't know if you saw the...
	In watching the news coverage of the formula and how it's impossible to find, but they would show the empty shelves.
	But even looking at the empty shelves, you could see the price tag.
	It's like $40 for a can of baby formula.
	The point is that prices are rising on everything at a much faster clip than people's incomes are rising.
	And that's for darn sure.
	And when there's no savings to speak of, this is a problem we are not prepared for.
	Well, again, you've hit upon a really critical issue, and it's mind-boggling to me if I hear somebody like a very conservative financial analyst from, let's say, Fox News or somewhere, they're downplaying everything.
	They'll say, oh, there's a 40% chance of a recession in 18 months.
	I'm like, dude, there's a 90% chance of food riots this year!
	What world are you living in?
	How can you not do the math of where this is going?
	Because just as you said, people can't feed their children, they lose their minds.
	Yeah, as Gerald Salente says, when people lose everything, they lose it.
	Yeah, exactly.
	And that's what you see, and it being, you know, rioting.
	And I left Minneapolis in many respects because of this.
	Look, I started doing podcasts in 2020 on a large scale.
	I started doing them in 2010, but in 2020, I started doing a half a dozen a week.
	And my name is out there.
	And I lived in a part of Minnesota where you could find me very easily.
	Ooh.
	Not good.
	Get really scared when they were defunding and vilifying the police when they were burning down the cities and telling us we have to be on curfew because they're coming out into the suburbs.
	I mean, I was sleeping with guns on my nightstand, and I worried every day.
	I left my house about my family's safety, and...
	I couldn't take it anymore and I moved to Florida.
	But I will tell you that the fear was palpable.
	I could feel it.
	I could taste it.
	I could see it.
	And Minneapolis has never gone back to being what it was when I was there.
	It was a wonderful place to grow up, to be a kid, to raise a family, and then bang!
	It turned into something I don't recognize.
	And that's how fast this is all going to happen when this stuff happens because there is no savings rate.
	Everyone is indebted.
	Household debt's at all-time high.
	Personal savings is at a nine-year low.
	And with this inflation, it's going to be at an all-time low in a very, very short period of time.
	So, yeah, I think...
	I think you're hitting it right on the head.
	You know, I've seen this even with friends of friends tell me stories about, oh, someone they know, they were just barely getting by, and then, boom, they needed a root canal.
	Now they're blown out of the water financially for six months to pay for one root canal.
	Or a car has a mechanical problem, you know, $1,000 repair on a transmission.
	Boom, they can't do it.
	And that's at today's prices.
	Think about how much more expensive all this is going to get for these people living paycheck to paycheck.
	They are going to lose their minds.
	We are going to see, I believe, an uprising.
	I mean, look at Sri Lanka right now.
	Sri Lanka riots.
	They're burning down the homes of their elected leaders.
	I mean, literally setting fire to their homes, which maybe that's not the worst idea ever, I say satirically.
	But...
	That's a joke, folks.
	The United States, they're protesting, and you could say in a very frightening way outside of the Supreme Court justices' houses.
	I mean, you've got to honor, is this the United States or is this a banana republic?
	We're not too far away from Sri Lanka.
	I mean, we are, but we aren't.
	I mean, are we?
	I mean, we are...
	We're not that far from Sri Lanka.
	$30 trillion in debt.
	If it weren't for our World Reserve status, which I think is impending, or it's very close to being stripped from us, then we would be the same thing.
	We're a country that's insolvent, massively in debt, under...
	Very, very undercapitalized, very little in the way of savings, and overleveraged to the nth degree.
	Whether you're talking about the public or the government or the banks, we're all the same thing.
	Undercapitalized and overleveraged, and this close to all hell breaking loose.
	And I see it very clearly how it happens.
	And I think we're closer to it happening than people want to give credit for.
	Well, I think you're exactly right.
	And by the way, I want to invite you back.
	I want to do a dedicated special report video about these, is it 10 to 15 points that you want to lay out?
	How many points was it?
	Maybe more like three or four really big ones.
	I'm happy to come back as often as you'd have me.
	I love talking to really smart, like-minded people like you.
	I really do.
	It's my passion.
	And so anytime you'll have me, I'll come.
	I'll be back.
	Let's do that because I think to put it on the end of this interview might not give it the attention that it deserves.
	And I think...
	You know, we're probably coming up on an hour here.
	I want to make sure our audience can handle this conversation and absorb it and react to it, but let's schedule very quickly to bring you back on and go over these points and let's do kind of a special report focus on that.
	Maybe we'll add in some graphics and headlines and I'll have my editing team really go at it and then we can release that video as a special report.
	Does that sound okay?
	That would be great, because I'm telling you, I see it as clear as day, and I think we are this close to it happening.
	I really, truly do.
	Well, I think so, too.
	How about this?
	Give us a teaser of three points that might be part of that list that we'll bring up in a follow-up.
	Well, I ask people all the time what makes the dollar the world reserve currency.
	You touched on it earlier.
	Most people have no idea.
	It is the protection of the Saudi Kingdom, period.
	Bretton Woods, petrodollar status, yeah.
	That's it.
	And that's what makes the dollar the world reserve currency, because OPEC has promised.
	We protect the Saudis.
	OPEC promised us, and the Saudi Kingdom, that we will value oil in dollars globally.
	And so every single country on the planet Earth has to own dollars in order to energize their country to purchase oil.
	That's number one.
	And just to add, you believe that that petrodollar status is about to fall.
	The day we left Afghanistan, Russia announced, and I think there is no coincidence to this, Russia announced a joint military cooperation agreement with Saudi Arabia.
	Yes.
	The exact same thing with Nigeria, the two biggest OPEC-producing countries in the world.
	Saudi Arabia is now being protected By Russia.
	And subsequently, Russia, excuse me, Saudi Arabia and Nigeria have agreed to sell their oil to China for yuan, a yuan-denominated bond called the Chinese PetroYuan bond that has immediately converted into gold in the Shanghai Gold Exchange.
	And the fact that we are seeing countries, Russia, China, Saudi Arabia, Venezuela, sell oil outside the dollar is a massive deal.
	Massive.
	Number two is the Shanghai, excuse me, the Chinese Belt Road and Rail Initiative.
	This is the largest infrastructure project in human history, connecting 75% of human population through railways and roads and maritime channels and It's going to be patrolled only by military and commerce.
	Three out of four people in the world will be part of the new Belt Road Initiative, all settling on the new Chinese digital yuan, of which 8 billion in transactions have already happened.
	That's number two.
	And the third is, in April of 2019, the Bank of International Settlements reclassified gold as the world's only other Tier 1 reserve asset.
	So prior to that, for the last 80 years nearly, it's been dollars and treasuries that have been Tier 1 riskless.
	Not anymore.
	Gold's on that list.
	And so when you think of the BRICS nations, Brazil, Russia, China, India, South Africa, these are all the countries that are accumulating, purchasing, and producing more gold than anyone in the world.
	It is a tier one asset.
	Connecting the Belt Road Initiative, 75% of human population on a new digital yuan.
	And OPEC is this close away, I believe, to saying, you know what, we're going to open up other currencies to do the oil trade.
	And when that happens, it's a religious experience because those dollars come flooding home like that.
	Interest rates spike and everything collapses.
	And there's your great reset, Mike.
	And we can talk, get deep into it.
	But there's your great reset because the dollar collapses.
	Stocks, bonds, and real estate are inversely correlated to a massive spike in interest rates.
	They all vaporize.
	Everything in that fast, stocks, bonds, real estate, and the dollar all collapse.
	And cryptos, I would say, too, because they are so heavily tied to the stock market.
	When that happens, there's your great reset where you will own nothing, be happy, and rent because everything will vaporize.
	And it's that fast because...
	Because of our protection of the Saudi Kingdom has given us this privilege and now they're being protected by China and Russia because Nigeria is part of the Belt Road Initiative.
	So we mess with Nigeria.
	We're messing with China.
	Russia and China are coalescing into a group.
	We mess with any of these guys.
	We're asking for something much bigger than we want to get into.
	And I think it's something people need to wake up to.
	It's not the Fed.
	It's OPEC and the BRICS nations that are this close to changing everything here in this country.
	And this can happen.
	This can unfold literally in one day.
	Yes.
	I mean, the realization.
	I can get deep into it with you and take you along this progression.
	Okay.
	And there are many more things.
	Those are the three biggies.
	But we'll talk about it.
	And it's an honor to be here and an even bigger honor to come back.
	Well, look, I can't wait to talk to you about that.
	I'm going to have my staff reach out to you and try to set that up as soon as possible.
	I appreciate you sharing the time with me here today, but I just got to leave our viewers with this comment that We have been living, those of us who've been living in America and Western society dependent on the dollar, we've been living in an artificial economy for our entire lives.
	It's an economy where we've exported debt and imported goods, and so we've been living in this artificial materialism, and the ease of acquiring material things and even virtual assets is a very temporary and misleading situation that is about to correct to reality.
	Does that sound like an accurate assessment?
	It does, because if the Belt Road Initiative is connecting 75% of human population in the greatest infrastructure event ever attempted, And now you're seeing part of Europe sign on to it.
	If this all breaks loose and the dollar is ignored or is dropped as the single...
	Look, Fed Chairman Powell came out six weeks ago and said, you know what?
	There's room in this world for more than one world reserve currency.
	He's acquiescing to it.
	If this happens and the dollar loses its petrodollar status, its singular world reserve currency status, not only will all those dollars come home flooding because everyone's going to sell fast, fast, fast, fast, fast, because it's all starting to dump and they don't want to get...
	We're going to be very isolated in the respect that we have created.
	Look, there's one billion people in the West, Mike, when you figure us and maybe some of Western Europe, there's seven billion people in the rest of the world.
	And so we have chosen by weaponizing the dollar.
	You know, you mentioned earlier, you mentioned Trudeau.
	Well, how about kicking the Russians out of swift in the ramifications?
	Oh, exactly.
	If you own the world reserve currency, it is not your business to tell who can and who can't use it indiscriminately.
	And because of that, we will be isolated.
	And then very quickly, we will understand the ramifications of these types of actions.
	So yes, that's exactly what it sounds like to me.
	The third worldization of America appears to be coming, folks.
	Gold and silver are a real store of value, though.
	And I don't want to see the system collapse, but I tell you what, when it does...
	I'm going to be buying 1,000-acre ranches with gold coins.
	That's what I'm going to be doing.
	But on the flip side, people are going to be losing their ranches, right?
	So I don't want to see that happen.
	That's one of the things that I think people should understand, that owning metal is not just for an emergency.
	It's for opportunities as well, because when things settle, when the dust settles, And if things happen the way that I think, look, if interest rates spike, everyone who is wealthy in this country very quickly will not be, because all of their wealth is tied up in stocks, bonds, and real estate.
	And the majority of the really wealthy people, and or dollars in cryptocurrencies, all of them will...
	We'll suffer the same fate.
	There will be value to be found, and it won't be a pleasant time, but I think for those people that have dry powder in things like precious metals, now think about it this way.
	Why would the Bank of International Settlements reclassify gold tier one?
	Why didn't they choose special drawing rights from the IMF, or why didn't they choose euro or yen or yuan or whatever?
	Ruble or anything.
	Why?
	Because it's going to have a central role in what comes next.
	No one will ever drink the currency Kool-Aid ever again unless it's pegged to something, and it would have to be pegged to something like gold at extraordinary high levels.
	And those few people who have held on to their gold will be able to take advantage, I think, of opportunities that others won't.
	When Klaus Schwab says you'll own nothing and be happy, yeah, if everyone loses everything.
	And suffers like that.
	They'll be happy to rent and never go through that again.
	And a company like BlackRock comes in and buys up everything across the board at pennies on the dollar.
	Well, we could do the same thing too by being outside the system.
	You'll have opportunities that others won't have the ability to take advantage of.
	Look, this isn't the end of the United States.
	But what it is, I think, is the impending end of a Keynesian-based economy Monetary system and end of the dollar as the single solo world reserve currency.
	And we have a big uphill battle to go.
	But look, Americans can do it.
	We've proven our resolve.
	But if you are fully invested in dollars, Mike, you're destined to go broke.
	We own precious metals not to get wealthy.
	And if you do get wealthy with precious metals, be careful what you wish for.
	You own it because it is wealth not to get wealthy.
	Yeah.
	And also in the scenario where things are collapsing and people like you and I, Andy, are using silver or gold to purchase things probably at a very big discount, we are in fact injecting liquidity into the local economy because then those sellers now have silver coins.
	We're actually reestablishing a system of trade based on real value, which can help rebuild collapsed societies.
	But those who don't have the metal are going to lose the vast majority of what assets they thought they had.
	The important part about that statement is that the average allocation to precious metals in the United States right now is believed to be one half of 1%.
	And that's from Joe Sixpack to the Harvard Endowment Fund and everything in between.
	In 1980, it was 8%.
	The average or the mean over the last 40 years has only been 2%.
	So if we just get to the mean, that's a five-fold increase in demand in a market that can hardly handle what we're seeing right now.
	If everyone wakes up and realizes it's time, it's too late.
	Just like anything in preparedness, and Donegan Kaiser, you know, his show originally was Reluctant Preppers, and you have to reluctantly prepare right now.
	You have to, because whether it be getting food, with food shortages impending, whether it be getting a gun To protect yourself, whether it be getting gold and silver to protect your financial well-being, whatever it is, you have to do it.
	And preparation or insurance always sucks because you're spending money for something that isn't guaranteed and you're wondering, is this a wise way to spend my money?
	You know what?
	You realize it real quickly when it happens, and you're thankful that you trusted your gut and had the foresight to prepare.
	And it's right here in front of us if you're willing to open your eyes and do it and not listen to the noise of everyone around you.
	Fortunately, being a contrarian means living a lonely existence.
	You can't talk to people about it.
	They don't want to hear it.
	But I do believe if you're not a contrarian right now, Mike, you're going to end up a victim.
	Yeah, well said.
	We should make that a bumper sticker, I think.
	Anyway, Andy, I'm sorry to take so much of your time today, but thank you for sharing it with us.
	The pleasure's been mine.
	I enjoyed it.
	Oh, this is a great conversation.
	I have a feeling we could talk a lot more.
	But we'll do it again soon.
	In the meantime, folks, if you want to reach Andy, it's info at milesfranklin.com.
	That's the email address that goes to his team.
	And we're going to have Andy back on to go through his list in more detail.
	And just thank you for your time today, Andy.
	It's been an honor speaking with you.
	Likewise, Mike.
	A pleasure has been mine.
	And please, if you do send that email to info at Myles Franklin, please put Mike Adams sent me just so that we can categorize it and make sure that we keep everything organized for our own records.
	And so anyways, Mike, I look forward to picking up where we left off, hopefully not too far down the road.
	And in the meantime, I hope you and yours and everyone out there stays well.
	Okay.
	Thank you.
	Thank you so much.
	God bless you.
	Thank you, Andy.
	You too, brother.
	Absolutely.
	For those of you watching, feel free to repost this interview on your own channels or other platforms as well.
	You have our permission to do so.
	And be sure to check back on my channel on brighttown.com because we will have Andy Sheckman back for more talk about where things are going.
	And also, will the BRICS nations launch their own digital wallet system backed by gold and other commodities?
	I believe that's in the works.
	We'll talk about that next time.
	Thank you for watching today.
	I'm Mike Adams, the founder of brighttown.com.
	Everybody, take care.
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