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Nov. 26, 2022 - Health Ranger - Mike Adams
01:07:36
Andy Schectman and Mike Adams talk BRICS+ global reserve currenc...
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Welcome, this is Mike Adams of Brighteon.com and our special returning guest today is Andy Sheckman, the CEO of Miles Franklin.
The website is milesfranklin.com.
Andy has been spot on with his analysis of what's happening on the global financial sphere.
Well, I mean, we're going to talk about the petrodollar status, BRICS Plus Nations, gold and silver, and also a little bit about what's happening in the crypto collapse space, which is quite an amazing way to annihilate tens of billions of apparent dollars overnight.
But Mr.
Sheckman, Andy, we love you.
The audience loves your work.
You've been just right on, spot on again and again.
Welcome to the show.
Yeah, you're too kind, Mike.
Thanks, buddy.
I appreciate it.
Thanks for having me.
It's an honor to be here.
Well, it's an honor to have you on, and I want to give a shout-out to Dunnegan and the crew over at Liberty& Finance.
That's where I first saw you, and they do a great job as well.
I love those guys and Kaiser and all the work they do.
So, folks, you can check out Liberty& Finance's channel on Brighteon and other platforms as well.
So, with that said, turning to you, Andy.
Give us an update, if you would, please, because lately, over the last, let's say, 45 days or so, I've seen so many news items confirming the things that you were talking about months ago.
For example, Mohammed bin Salman saying that China is their preferred trading partner, which means they're moving away from the petrodollar recognition.
So in your view, Andy, what has happened fairly recently here that confirms that things are moving in the direction you laid out for us?
Well, you know, I appreciate the kind words, Mike.
A lot of the things that we talked about It came to a point where there had to be some supposition involved where we think things are moving and certainly they seem to be accelerating quite a bit.
I don't know if when we last spoke we had gotten confirmation from MBS that indeed they have applied for BRICS that was Confirmed by him and by the President of South Africa a week or two weeks ago now.
So not only do you have him saying to the world, yeah, China is our biggest priority with In regards to oil this year and for the next 50, sounds very similar to what would have been said 50 years ago to the United States, but also that indeed they are joining the BRICS nations.
And I think this is a massive blow.
Now, it became very evident to me the day that We pulled out of Afghanistan in a very unharmonious way that this was already baked into the cake.
But by seeing this type of admission, and now we see that Chi is going to actually fly to Saudi Arabia.
This is a guy who, by all reports, has only traveled once, maybe twice since 2020 with the pandemic.
That is now going, you would think, to seal the deal, I guess you could say.
Yeah, that's huge.
Yeah, it is huge.
That's a show of respect to MBS and the Saudi Empire.
Right.
That's basically saying, we'll come to you.
And if you read further into the article that talked about that statement of, yeah, well, China is our biggest priority for the next 50 years, it went on to say, we view the United States in terms of our relationship with them at this point is in terms of protection.
Well, you have these Senators now that are trying to bring a bill in front of Congress to remove the Patriot missile defense system from United Arab Emirates, who, by the way, not only recently joined the BRICS Bank, but are also going to join the BRICS nations, and Saudi Arabia.
And so the protection Of the Saudi Kingdom for the last 50 years has been what has given the dollar its petro status.
I find it interesting that we look at the Shanghai Corporation and also, of course, the Belt Road Initiative.
All 13 OPEC-producing countries are on the Belt Road right now.
And so when you talk about a game of chess, Mike, We're really close to that point where, you know, I don't know that it's checkmate, but I think you could reasonably expect to hear something in the line of check pretty soon from a standpoint of geopolitical relationships that are being cemented amongst all of these countries.
And it gets deeper than that.
You know, we recently saw the Russian foreign minister announcing over a dozen new countries to Join BRICS. And it's interesting, I think, as we'll talk about this a little deeper, that this is a planned ascension, if you will, or a planned gathering country by country and the influence they have amongst their neighbors.
So the 12 that have recently announced Their BRICS intentions or that they are joining BRICS are, we've talked about Algeria, Argentina, and Iran, but now you have the United Arab Emirates, Nicaragua, Turkey, Indonesia, Senegal, Nigeria, who signed a joint military cooperation with Russia along with Saudi Arabia the day we left Afghanistan.
Oh, and Afghanistan, Egypt, Kazakhstan, and of course Saudi Arabia.
All of these countries are joining BRICS. And, you know, it's interesting.
You mentioned Turkey in that list.
That's confirmed with Turkey?
Yeah, that they are in negotiations or have expressed their intent to join the BRICS nations.
And what's deeper or more interesting about Turkey joining BRICS is that for the first seven months of 2022, they bought more gold than any central bank in the world.
And we had the Russian finance minister come out several weeks ago saying that they are going to issue a currency to challenge or to that they call it a reserve currency and it will challenge the West and it will be pegged to commodities and so when you see I'm going to get into this a little bit deeper in a moment but when you see that Turkey as an example of that buying more gold that any country in the world for the first half of the year expressing
then their interest to join BRICS Gold being reclassified the only other Tier 1 reserve asset, the finance ministers are saying it's going to, this new currency will be pegged to commodities.
It begins to take shape a little more clearly.
I have a question for you along those lines, but I think Turkey is absolutely pivotal because of its role as a bridge of trade between Europe and the Middle East and even Russia.
So if Turkey is joining BRICS, That means...
I consider Turkey kind of a gateway nation, right, between the East and the West.
And this is a very powerful indicator that the West is going to end up being isolated itself.
In other words, it looks like to me, of course I want your view on this, but it looks like there's going to be a global economic embargo against Western nations, essentially.
Or, I don't know if that's the right way to say it, but it's like...
The rest of the nations...
Okay, yeah, go ahead.
It's exactly what it is, Mike.
I mean, it's the rallying cry, if you will, to get everyone to the table.
The Western hegemony and hypocrisy for centuries is coming to an end, and that is the rallying cry, but the glue that will make it all work will be the pegging of every country will peg or pledge A commodity to a distributed ledger.
And I believe it will be the rails of the Chinese digital yuan, which has been successfully transacting sales and call it a beta test for four years now or nearly to the tune of over 20 billion, 25 billion dollars in successful transactions.
They'll use the rails of this new digital yuan, which they rolled out for the public at the Olympics, I believe, to be the backing of the new Digital bricks currency.
And the glue that will give everyone equal footing at the table that will make this work is the pledging of gold or other commodities so that no one has a voice louder than the other.
Yes, right.
That, to me, is what makes it work.
The other thing that makes it work...
I'm sorry to interrupt.
Obviously, if this is pegged to commodities...
And it is distributed among these different countries, although there will surely be very dominant polar players such as China and Russia.
But no one country can flood the supply of this currency with digital money printing because it all has to be backed by commodities that I assume are going to be rigorously audited at some point.
Otherwise, the system doesn't even work.
But if no country can print the currency out of nothing, then my question to you, Andy, is wouldn't Americans want to put their savings in this system so that they don't lose 2% a month on the purchasing power of the dollar?
Well, I don't know that the Americans will have the ability to do so, but certainly most of the world will.
And when you look at the countries, you mentioned earlier BRICS+. Well, those are the countries that I just mentioned.
We'll call those the BRICS+. The Egypt and Afghanistan, Nigeria, Senegal, Indonesia, Turkey, Nicaragua, these are BRICS +, but they also have considerable influence amongst countries within their Let's call it backyard.
When you talk about Latin America and Brazil, you have Argentina.
You have Nicaragua and Central America.
When you talk about South Africa, you have Algeria, Egypt, Iran, Saudi Arabia, the United Arab Emirates, Nigeria, Senegal.
You have Afghanistan and Kazakhstan with Russia.
And in Central Asia, India and Indonesia and Thailand.
So these are strategic.
And all of these countries have either expressed interest or targeted for, I guess you could say, invitation to join the BRICS nations.
And so when you dig deeper into it, they talk about additional future potential candidates that will be expected.
We'll be in Central America, Costa Rica, El Salvador, Guatemala, Honduras, and Panama.
In Latin America, Bolivia, Chile, Cuba, Ecuador, Peru, Uruguay, and Venezuela.
In the Caucasus region, Azerbaijan.
In Central Asia, Mongolia, Kazakhstan, Turkmenistan, and Uzbekistan.
And in South Asia, Pakistan, Sri Lanka, and Vietnam.
Now, here's what's really interesting, right?
This is where it gets really interesting.
So of all those countries that I just mentioned, okay, let's talk about one, two, three, four, five, six, eight of them.
Here are eight countries, of which one of them, Venezuela, has already said they're joining.
And here are the gold holdings as a percentage of these countries' reserves.
Venezuela, 82%.
Uzbekistan, they have said they want to join, 65%.
Kazakhstan said they want to join, 63%.
Bolivia said they want to join, 55%.
Belarus said they want to join, 40%.
Turkey said they're joining, 29%.
Pakistan want to join, 29%.
And Kyrgyzstan, I can't pronounce it, 22%.
So you have all of these countries that have expressed interest or will be invited to join, and they are massively accumulating gold that represents a significant portion of their holdings as a percentage of reserves is in gold.
And these are the countries that will use that gold to give them an equal footing at the table.
The rallying cry is of the Western hegemony and hypocrisy and sanctions.
The glue is the pegging using distributed ledger technology, I guess you could say.
I don't know if I heard this from you.
It's possible I did, but I apologize if that's not correct.
But someone had said in an interview that these countries, when they join BRICS, If they had previously defaulted on debt to Western nations, that debt would be forgiven and they would not be penalized with poor credit rating inside the BRICS system if they defaulted on Western debt.
Did that come from you or have you heard of that?
No, I haven't heard that.
But here again...
You know, I guess you could say this will be a system based upon assets and commodities rather than debt instruments.
And that is what Zoltan Pozar called Bretton Woods III. This is a system where if you want a seat at the table, you better have the goods to back it up.
You bring that.
Yes.
And so when you look Back throughout time, go all the way back to Bretton Woods, when the dollar was anointed the world reserve currency, when countries could exchange, not citizens, but governments could exchange their gold back to the United States Treasury at a fixed rate, or their dollars back into gold at a fixed rate of $35 an ounce.
The world was flooded with dollars since the end of World War II and made perfect sense for it to be the world reserve currency.
Once we went fiat and had the petro status, but no one could compete with our economy, with our military, with any of this until now, where you have countries that have advanced due to our trade deficits,
that have built and unified countries where I think it is moving to a period of time where These BRICS nations, which is now inclusive of Saudi Arabia, are purposefully separating from the West, and they're looking to forge forward with their own economy.
And when you talk about the significance of this, Mike, they have all the oil, they have all the productive capacity and all the gold.
And most of the world's commodities.
And I think that this is just the very beginning of the end of the Western dominance because these countries now combined have a larger GDP, a more imposing military presence, and they are coalescing using commodities to back what is a flawed system here in the West.
The system based upon debt and debt instruments rather than one based upon the anchor and that is some form of a commodity backing a currency and what better way to roll out a central bank digital currency than to use the immutability of what is being held and the veracity of it on a central bank digital currency platform for everyone to see.
This is the next big question I wanted to ask you.
So in addition to gold and likely silver, to your knowledge, is there discussion of energy commodities or mineral commodities that could be used as collateral by nations to participate in this system?
For example, could a nation bring copper or barrels of oil or something like that?
The Russian finance minister, when speaking of this, actually mentioned things such as grain or oil or natural gas or any of these things.
And people will say, well, how do you make that work?
Well, if you have a digital currency or a digital platform, So maybe one country pledges grain.
Well, you have to keep this amount of grain rotating in a reserve, you know, in order to have your seat at the table or whatever it may be.
I mean, there will be guidelines in order for you to have equal say at the table.
So, yes, he made it sound as though it would be things such as precious metals and other commodities such as oil and grain and And the like.
So, yes, that is the way that it sounded.
Now, I think it would be better if it was just gold.
It would be more straightforward, but I'm sure that they will figure out something that, look, anything that is backed and tethered to a commodity, when you're talking about a money supply problem, is certainly better than a currency that can just be created out of thin air with the keystroke.
This is something I think the world will be looking happily to move towards.
For this system to work, however, it has to be audited physical material on hand and not ETFs or contracts on gold like, you know, the COMEX scams and all of that.
I mean, this has to be physical stuff that is inspected, audited, certified.
You know, if you're a country participating in this, you can show you've got the fertilizer or the grain or the oil or the billion cubic meters of natural gas or whatever it is.
Otherwise, it's no better than the US system, which is all based on BS. Well, it's interesting you say that because that's always my one comeback when people talk about stable coins backed by gold.
Well, who's holding the gold?
Who's auditing it?
You know, what kind of gold is it?
Whatever.
So you're right.
And in order for them to make it work, it would have to pass the smell test.
So maybe they have it held in Swiss vaults or maybe they have it audited by independent auditors.
I don't know what the criteria will be.
But if you're going to try and issue a currency pegged to commodities to challenge, you know, the dollar, you better have all your ducks in a row.
And I think that's exactly what they will do.
It's what I would do if I were formulating this game plan.
But, you know, look, you can really, really, really see that it's happening.
And when you add on to it, Mike, the amount of metal that's been exported out of the United States just in the last quarter, let alone the last year, or really the last three years, things are starting to get really, really interesting when you try and put all the pieces together.
Follow the crumbs.
They're leading 100% to the East.
And we can talk about that if you'd like because what's coming off of Comex right now is almost unbelievable.
And last week we saw an article from Reuters and Bloomberg talking about this.
And it's something that I think people should know about in terms of putting an exclamation point on these countries and their accumulation of commodities, really at the expense of the West.
Well, yes, yes.
I think so many countries in the world have come to realize that they are materially poor because the US petrodollar status effectively looted their countries for many decades in an unfair manner, and I think they're tired of being ripped off, right?
So what's going to displace the US system would be a system that is...
And no cheating is happening.
And the amount of abundance that will come out of that...
Would be extraordinary.
I mean, imagine if you're a country that produces something.
So you produce, let's say, corn.
You put up corn as your asset into this system.
You get currency against your corn reserves.
You can use that currency to buy oil or gas or fertilizer or whatever instead of the current system, which is you sell corn to the U.S. and you get debt bullcrap.
Right?
You get useless crap dollars and treasury bills for your corn.
And that's insane.
Well, what you just said is exactly what I was trying to say.
The rallying cry is just that.
Look at how we've been cheated.
That gets everyone to the table.
And when you look at the decisions that the current administration has made, and in particular weaponizing the dollar, Weaponizing the dollar as the world reserve currency is something that is very foolhardy, unless it was intended.
Unless it was intended to light the fuse to blow up the system to reset, because you're $150 trillion indebted.
And when you talk about consequences of blowing up the system, you know, the rest of the world says, look what they did to Russia.
Are we next?
They stole their assets.
They kicked them out of the swift and they're look at how big of hypocrites they are.
Look what they do to the world.
And yet they have the power to say you can and you can't use the dollar.
And not only that, we're going to take what you have.
And so that has incentivized the world to expedite things like SIPs, the cross interbank payment system or M-Bridge.
And I don't know if you know much about Enbridge.
No, I don't.
Embridge, as in Mary, is a technology that was invented by several or three or four countries In particular, I believe it was the United Arab Emirates, China, and I want to say Singapore, perhaps.
I forgot the third country.
Anyway, they just finished I want to say somewhere in the neighborhood of a 12-week beta test.
And it is a technology that allows cross-border payment systems using central bank digital currencies, all of which circumvents The U.S. intermediary banks.
In other words, it circumvents the SWIFT system.
Right.
And so these countries are rallying against the hypocrisy of the West, as you said.
And in order to make it work, to be paid in something that is real, it has to be backed by something instead of backed by debt bullcrap, as you said.
And that's exactly right.
And that's if done right.
This is why it will work.
It'll work because you have the rallying cry.
And, you know, this Enbridge system, they processed something like $25 million worth of transactions.
All of it went immediately between two countries and their central bank digital currencies.
It was China, UAE, and Thailand.
And it worked.
And so they're building systems to circumvent SWIFT. You can see the pieces are being put together right in front of us.
What I find so fascinating about sending money internationally or clearing transactions internationally, even the SWIFT system, as you know, Andy, the SWIFT system doesn't actually send money anywhere.
It's a communication system where both parties agree to implement The instructions like you add 100 million over here and then you deduct 100 million and we both agree to do that and that's it.
That's how money is sent.
It's a messaging system.
So the system you're talking about, what did you call it?
The M system?
So the first is SIPS, Cross Interbank Payment System, and the other is M-Bridge, which transacts central bank digital currencies cross-border.
There we go.
So all M-Bridge has to do to work is be secure and to be agreed upon on both sides and Audited, you know, checksummed, confirmed on both sides.
And then, boom, it's a money transfer system, so to speak.
It just has to be a secure communication system that both parties agreed to abide by.
And that's it.
Yeah, well, and that's what's happening.
And so, you know, we've incentivized the world to do this.
And, you know, when you talk about A lot of people say to me, you know, Andy, you know, these things you say, they're frightening, and it's crazy, and if these things are happening, why isn't gold and silver reacting?
Yeah, there's an interesting question.
It is, and it's, you know, talking to someone like you or to your listeners, it's easier to talk to them about this, because they'll understand what I'm saying.
You try to talk this way to someone who's mainstream, they look at you like you have horns coming out of your head.
Like we're speaking Klingon or something.
Right.
They have no idea how money works at all.
So the bottom line is simply this.
If I didn't see what I see from the top on down, I'll explain this in a moment, The suppressed prices would be something that would start to get to me by now, where a handful of commercial banks can suppress the price forever.
People say, well, what's going to make them stop being able to hold down the price with levered futures contracts, which they've been doing forever?
Where the commercial banks suck in the speculators by letting the price rise, the hedge funds buy the options, and then they smash the price at options expiration.
The options expire worthless, the price collapses, and they rinse, wash, and repeat it on and on and on and on.
And it's a system that has made a lot of people grow weary.
Now, someone looking from the outside says, well, you have a world that is in chaos, and 40-year high inflation and wars and gold and silver really aren't doing what they're supposed to do.
Well, this, first and foremost, is by design.
It is called misdirection.
But what I see happening betrays the manipulation of price and rhetoric.
Now, we could scour the COMEX reports and the exchange for physical reports and all of the numbers that would easily allow me to explain manipulation.
We could talk about it for an entire hour.
But let's just sidestep that for a moment and agree that the markets are suppressed by the biggest money in the world, and they're able to do it with levered futures contracts, where the price of the commodity is controlled by the futures market, not by the underlying commodity.
That in and of itself is a problem, but where Five, six, seven thousand dollars controls a hundred thousand dollar gold contract.
The ability of these big banks and hedge funds to control the price through futures contracts is extraordinary.
Here's what's betraying that.
When we talk about the supply, now in 2020, I started talking about this group called the Others.
You go back and listen to my podcast.
Three years ago, you'll hear me talking about where did these others come from?
Who are the others?
The COMEX publishes a report Every week it's called the Commitment of Traders Report and it shows the positioning of the largest traders on the exchanges, on the COMEX. It used to only be the commercial banks on one side and the hedge funds called the speculators or specs on the other.
And in 2020 there was this new group of reportables that came out of nowhere on the Commitment of Traders Report called the Others.
And they're believed to be family offices and sovereign wealth funds.
Really?
And they have been draining COMEX Literally for three years, to the point where in 2020, they took more silver off the COMEX than had been done in a decade's worth of time prior.
More gold in one year in 2020 than the Bank of Japan holds in their official reserves.
Whomever these others are, are very, very wealthy and in the know private investors.
But let's just focus in a little bit more recently.
When we talk about the LBMA, the London Bullion Market Association, their silver vault levels have been contracting sharply.
And at this point, last I looked, there was only about 300 million ounces within the LBMA. And if you realize that just in the month of July, They delivered off the exchange 46,500,000 ounces.
You keep seeing deliveries like that, and by mid-2023, all of the silver on the LBMA is gone.
In fact, their stockpiles right now are the lowest it's ever been since they started keeping records of inventory, ever.
And on the COMEX, the registered stockpile is the lowest it's been since 2016, and it's fallen by over 70% in the last 18 months.
Right now, there's only about 35 million ounces of silver on the COMEX exchange in the registered category.
That's just over 7,000 contracts.
You're talking about something, that amount of silver backing the price-setting mechanism of the world where India is expected to import 300 million ounces this year, where in the month of September they imported 45 million or so ounces.
And so you're seeing Massive deliveries come off of COMEX, where just a few weeks ago, in one day, 45% of all of the kilo gold bars on COMEX were delivered in one day, which represents about 26 million ounces.
So who's got that kind of money to do this?
But Andy, to complete your thought here, how does the dwindling available supply of these metals make it more and more impossible for the paper manipulation of silver and gold pricing?
So that's a great question.
So there was an article that came out Just the other day by Reuters and by Bloomberg, and it talked about the mysterious gold whales.
And it said that the central banks bought 399 tons of gold in the third quarter of 2022, which was 340% higher than Q3 2021, and almost double the previous record in 2018.
It also marked the eighth consecutive quarter of net purchases and brought the year-to-date total to 673 tons, and that's higher than any full year ever since 1967.
But Bloomberg called the buyers mystery whales, and they postulated that the mystery buyers were likely either China, Russia, Saudi Arabia or India.
Now, where have we heard those names before?
Right.
Same group.
And the interesting thing is that of the 400 tons purchased, only 120 tons were registered or were attributed to a specific country.
Two-thirds of it, they had no idea where it was going.
But let me try to explain what this really means.
Is that possible?
What anonymous gold buyers?
Yes.
But let me tell you what that really means.
So I have had the good fortune of doing some fairly significant silver orders over the last six months or so.
One of which was $35 million worth of 1,000 ounce silver bars.
And They were going to be stored in our Brinks program.
And we have vaults throughout Canada and the United States, including New York JFK and Salt Lake City.
Salt Lake City Brinks is probably their bellwether facility.
It is, I believe, the biggest in North America.
And the client wanted to store these COMEX silver bars at Salt Lake City.
So I spoke to the gentleman whom I got the bars from, who was very high up the food chain, and I told him this, and he said, listen, you'd be better off having the client keep them at Brinks JFK, where they're located right now.
They'll have...
It'll be in their best interest.
And I'm like, well, what do you mean?
Brinks is Brinks.
And he said, because...
Brinks Salt Lake City is not a COMEX depository, but Brinks JFK is.
And I said, well, so what?
Brinks will have brought the bars in their truck to Salt Lake City.
They will have maintained within the Brinks chain of custody the entire time.
And he said, yeah, but they left the COMEX chain of custody.
And now they're no longer a COMEX-approved or eligible bar.
And I said, well, okay, does that diminish the liquidity?
No, you'll get great liquidity at Salt Lake City, but what you won't get is the industrial liquidity, where if Elon Musk says I want to pay $27 an ounce over spot for anyone who wants to sell me a 1,000-ounce bar, You would have to have them re-put back into the system and re-assay, even though they never left Briggs custody because it left COMEX custody.
So the point I'm trying to get to you is this.
If all of this metal is leaving the COMEX and being delivered off the exchange, and all of this metal, because our official gold holdings haven't changed according to the U.S. government, yet 400 tons were exported this quarter, Where's it coming from?
Well, it looks like it's coming off the COMEX as a one-way street.
Why is palladium allowed to trade where it is, or rhodium?
Because there's not enough of it if players start to call for delivery for the traders to manipulate it.
We are entering a period of time where the biggest money in the world is using price and rhetoric to clean the shelves.
And by the time the public wakes up to realize that they need to have gold and silver, it will be gone because where does it all come from?
It comes from the COMEX and the LBMA. Those bars are what are used to make the blanks that are used to make the coins.
But what if you can't get any good delivery bars, gold or silver?
Then what?
Because the biggest money in the world is front-running what is coming and the massive acquisition by other countries, in my opinion, to clean the shelves before everyone else realizes it.
And it really seems to be happening this way.
And that is why These prices in and of themselves don't discourage me because it is being betrayed by the sophisticated buyer using that as cover to empty the shelves.
Right, and that action has a limited window of time because eventually you run out.
And if I have a contract and I say, I don't want cash settlement, I want delivery, well, I can't get it.
What's it worth?
The price goes parabolic.
So why are they pulling it off the exchange?
Because maybe they see that time coming and they are positioning.
I think these wealthy, informed, connected individuals, my guess is what they know is that debt-based currency systems are going to collapse.
So they're trading currency for gold and silver, taking the metal off the grid, storing it, waiting for the currency reset, right?
And then...
After the reset, there will be the ability to buy, using metal, a tremendous amount of whatever new currency there is, which may give you a thousand percent return or more on what the old currency would have been worth.
So they're going to buy their way back in at a much higher stake while the masses are completely screwed.
That's exactly right.
It's like 1933, Mike.
In 1933, when gold was confiscated, all of FDR's buddies and cronies, like me and you go to high school together, and I'm FDR, and you're my buddy, and I'd say, hey...
There might be a gold confiscation in the near future.
It might be worth it for you to get all your $20 gold pieces on the steamship that me and my buddies have it on heading to the central banks of Switzerland.
We'll put them in there.
And I have a friend here in Florida who is the largest importer of gold numismatic coins, US coins.
In North America and he has told me that the majority of the $20 gold pieces that this market has seen over the past decade have come imported from central bank vaults or safe deposit boxes.
The wealthy knew that gold was going to be confiscated and they started to send their metal to the central banks, the safety of the central banks in Europe.
And so You know, that's the exact same thing we're seeing here.
It was front running of the inevitable and the people that are doing these things that have the anonymity of being called the others are closest to the information.
Just like the buddies and the wealthy that were connected to FDR and the people pulling the strings in 33 all sent their gold to the safe deposit boxes of Europe.
So This is front-running.
This is misdirection.
And I talk about misdirection all the time, Mike.
In any game you've ever played in athletics, whether it be chess or basketball or football or any sport more or less where there is an opponent or opponents, the objective is to misdirect.
And misdirection is pervasive in everything from athletics to finance to warfare.
And I think this is classic misdirection where price and rhetoric is being used to allow these people to reposition before it becomes very obvious that this is what needs to be done.
There's so much money out there Where a guy like Steph Curry, you know, could buy half the available stock on COMEX. So it's a situation where this has been done methodically, where over the last 18 months, 70% of the registered bars, those are the bars registered for delivery, have been delivered off the exchange.
In my whole career, Mike, 1% or less of COMEX contracts would settle for delivery.
It was never used as a delivery mechanism until now.
And it's only being done by the most sophisticated, well-funded, well-informed traders on the globe.
So when they're front running, it's important folks to pay attention to what they're doing because you might want to join the inner circle who have inside information rather than following the herd off the cliff.
Now, Andy, let me ask you a different question here.
I just want to go back to the BRICS A global reserve currency question here, and we'll do about another 10 minutes if you're okay with that.
I know it's getting late where you are.
But any idea of the timing of this?
I know it's difficult, but can you give us your best estimate of when that system will be embraced and actively taking over international clearing of transactions between the BRICS plus nations?
I think it'll be sooner than most people think, but I don't think we're quite there yet.
I don't know when it would be.
I think it'll be before this administration is out of office.
I think it'll be sometime in the next year or two, if not much sooner.
But when you see The things like the Enbridge technology test that was just passed.
When you see China saying that, or Saudi Arabia saying rather that Saudi Arabia, pardon me, Saudi Arabia saying that China is our biggest priority for the next 50 years.
When you see these things starting to happen, to me it just tells us that we're getting much, much closer to it.
I don't know exactly when it happens, to be honest with you, but I think it's getting much, much closer than Than it's ever been.
And I think if you're going to do something like this to dethrone the dollar, it has to be done the right way.
And it's interesting when you see the amount of gold acquisition by all of these countries that have expressed interest in joining, like Turkey, who bought more gold over the first seven months of the year than any country on the planet.
They are, I think, strategizing and they're going to do it the right way.
So I don't know, but if I had to guess, it'll be before we see a 2024 election, we will see the BRICS nations.
In fact, if I had to guess, I'd call 2022 the year of Ukraine and 2023 will be the year of the BRICS, if I had to guess.
Okay.
All right.
Well, then that means we may not have an election in 2024, just depending on how quickly the dollar implodes.
Think about a U.S. regime, like the Biden regime, being unable to just print money and pay everybody off and bribe everybody and run slush funds and send billions to Ukraine and have half of it come back as kickbacks.
If they lose that ability, they fall.
Well, why would Saudi Arabia want anything to do with this?
When a week or two ago, Biden stood on a stage and talked to the members of the Paris Accord and said, we are so sorry we left, but we are going to continue to push away from fossil fuels and we're going to pay developing nations $20 billion for all of our pollution.
Well, we're telling Saudi Arabia that we are moving away from From fossil fuels and combustion engines when the countries and all of the people that are joining BRICS nations will represent north of 75% of human population.
And they're not moving away from the combustion engine.
And they have a bigger military.
And they don't have to worry about having their currency or their wealth sanctioned by the West.
But in order to do this, this is a deal where I think the West will Kick and scream and try to bring as much down with them as they possibly can.
So this is not going to be something that is just easy to do, but it has to be done the right way.
So I guess when all the pieces are in place, but if you're looking From above, you can see that they are certainly being little by little put into place.
So I would say 2023 will certainly, we will begin to talk more and more and more and more about the coalition of the BRICS nations and the plethora of countries that will continue to sign on to the BRICS accord.
I think it's going to be funny after all of this.
I mean, this is kind of sarcastic, but after the BRICS Plus announcement takes place, the dollar implodes, the U.S. is going to start complaining on the world stage, asking, what should we do?
And the rest of the world is going to say, get a job.
Like, produce something.
You know what I mean?
Like you would say to a teenager that's been sitting around at home collecting money, living in the basement, eating Pop-Tarts and pizza.
Like, get a job, man.
Get out and do something.
The whole world is going to say that to the United States.
It's going to be well.
And what do we produce?
We don't produce anything really, but we export debt and inflation and we've outsourced all of our production capacity.
That's exactly right.
And that is part of the rallying cry.
And look at these lazy fat hypocrites.
This will get everyone to the table.
And if they do it the right way, And they use a fair, commodity-backed system that allows everyone equal footing at the table and equal save, it'll work.
And I think you'll get more and more countries.
I mean, look, you got the German chancellor now who's going to China to meet with Xi and rumor is it is to have him intervene in the war because I think, you know, a line was drawn when the pipeline was busted and Germany is going to freeze.
Where half of the, you know, I buy bars from Swiss refineries who tell me, look, we're not sure if we can commit to orders this winter because we don't know we're going to keep the lights on full time.
And so when you talk about alliances being broke, at some point it's every man and woman for his or herself.
And I think that's kind of what is happening.
And when you look at the countries that represent the West, They are all broken and solvent.
And I think they are losing their, really, the lure that has been the West and the United States for all of our lifetimes has been squandered.
And I think that is the perception that these countries are beginning to, you know, to realize.
Yeah.
That's what is starting to really speed things up.
Last question, subject area for you.
Now, for many years, the crypto proponents said that Bitcoin is digital gold.
In the last year, the crypto space has gone from a total aggregate valuation of $3 trillion to now, I think, 800 billion, something like that.
So a loss of, what, $2.2 trillion of value.
It's been a bloodbath, right?
So most of these are down 70% or so, some a lot more, a few a little bit less.
So clearly the debate is over.
Crypto is not digital gold, period.
In fact, it never was.
And I always laughed at that statement because the thing that makes gold gold is that it's not digital.
That it's real and physical and in your hand.
But, Andy, do you want to comment on the FTX implosion and crypto versus gold?
Or are you seeing some people come out of crypto and get into silver?
Kind of just contrasting those two realms.
What are assets, really?
Well, you know, look, I think, to me, cryptocurrency has always been digital error.
And it was something that always, I don't know, frightened is the wrong word, but, you know, it's something that made me very uneasy, that the safety of it, the validity of it, the safekeeping of it is something that always was Very concerning to me, but I never looked at it as gold.
I looked at it as something that was nearly make-believe, and I couldn't believe the amount of people who stake their reputation on these cryptocurrencies.
What do I think of it?
I think that this is, if I had to guess, was...
Almost orchestrated to the extent that what did they think was going to happen?
They flooded the economy with money.
They didn't regulate an industry where you have billions of dollars running through the hands of a very small group of inexperienced and unsophisticated and Individuals who created a mania.
The FOMO of it certainly made a lot of people wealthy, but if you would have asked the government to come in a couple of years ago and talk about regulating this ecosystem that was always sold as a As something that was decentralized, it would have been fought tooth and nail.
Well, now you're seeing one exchange after another after another, the systemic drawdown of not only trillions of dollars in value, but also in not just in market cap, but in people's life savings and pro athletes. but also in not just in market cap, but in And all of these people are getting clobbered and losing money.
And pension funds, Canadian teachers' pension funds.
Exactly.
And now that gives the West or the government the ability to come in and say, see, you all need regulations.
And that's what they're going to come in and do.
And they're going to come in and regulate this industry.
And cryptocurrency, I think there's no coincidence that you have all of these new IRS agents who are coming in.
I talk to clients all the day.
There's this one gal who tells me all of the Cryptocurrencies that she's traded amongst, you know, within her ecosystem, within her account from one to another to another to another and never reported the sales.
I said, are you out of your mind?
I mean, that's trading from A to B to C to D back to A to D to E to F. Those are all taxable.
Well, no one knows.
Right.
Well, when you leave the ecosystem and you went in with A and you come out with D, how did you get there?
And I think that this is going to be an environment that not only is going to get regulated because of things like this, but is also going to be highly scrutinized.
And I don't think we've seen the end of it.
I think that this is only the very beginning.
I mean, it's like if you look at what happened in 2008 when the banks collapsed, it started with the housing market going belly up the year before.
Well, when you look at the systemic nature of all of the players involved in this, I think the final chapters of this haven't been written yet.
And all I want to know is why is this Bankman Freed not in handcuffs yet?
Which really bothers me why he is not already in prison.
And when you look at, when you talk about systemic, you know, a few days later you see this Genesis Global.
And they suspended redemptions.
Well, people might not know what Genesis Global is.
I didn't until I realized that they were the liquidity provider for the Grayscale Bitcoin Investment Trust, which is a $6.7 billion ETF. And that is now trading at a 40% discount to its net asset value, as I'm sure people are freaking out about its exposure to Genesis Global.
But you're talking bringing down a lot of people and a lot of money, and these accounts are levered and rehypothecated and used as leverage against other assets.
You know, you're talking, this could be a very, very big, big fallout that is yet to be resolved.
And that is exactly why you will see massive regulation moving forward.
And the cryptocurrency universe that people thought they were getting into over the last several years, I think, is going to change dramatically.
Not to mention you have the government just came out last week and said with a half a dozen or so of the biggest commercial banks in the world, including MasterCard, they're issuing a 12-week beta test on the new central bank digital dollar.
So, you know, just in time to usher that in.
One comment and one clarification on that.
I believe that Genesis only halted redemptions from its lending unit, not the entire exchange.
However, that may be coming.
But the other point is, think about this with me, Andy.
How many terawatt hours of electricity were wasted over the last five years mining cryptocurrency that is now on the way to being worthless?
I mean, just think about the electricity usage, the coal burning, the higher rates that other people paid on the grid because there was so much demand from crypto mining on that same grid.
It's extraordinary.
There was so much energy used In finding tokens or mining tokens, solving pointless mathematical problems on these GPUs and mining units that effectively did nothing of any actual utility in the real world.
It comes to nothing.
Zilch.
You got nothing to show for it.
At least if you had a shovel and you were digging for gold, you would have found a few flecks by now.
You know what I mean?
That's exactly right.
And, you know, it's been tough to have...
My opinion has always been it didn't have to be a one or the other.
And I think, you know...
The whole concept of what Bitcoin originally was, what stood for, decentralization and private money and outside the dollar.
Well, that's what gold is to an extent.
I mean, gold is one of the only assets in the world that is not simultaneously someone else's liability.
It's in your own possession.
There's no counterparty risk.
It's been money for thousands of years and it can't be inflated away.
That's what I originally thought that Bitcoin was all about.
And it's turned into something much more than that.
It's turned into a casino and a Ponzi scheme.
And, you know, the purity of it is...
It has been lost, in my opinion.
But there will be applications for distributed ledger technology and there will be uses for it, I guess you could say.
It's going to be the foundation of every currency moving forward.
The Bank of International Settlements said that every country that is part of the BIS network must have a central bank digital currency by 2025.
It's coming.
No question about it.
But the wild, wild west, that is, cryptocurrencies, I think not only is going to be vastly different with the IRS officials and the regulation that's coming and the fallout of this that is yet to be resolved, but it's also going to be the era of central bank digital currencies and probably the removal in the very near future of anything that resembles cash.
And I'm willing to bet that the new BRICS World Reserve currency won't be run by 10 college roommates living in a frat house, sleeping with each other on beanbag chairs and being unshaven, dirty vegans who don't do math.
I'm pretty sure that's not the plan for the new currency.
Yeah, and when you realize, you know, the amount of...
People that should have caught this along the way, it really becomes a whole other story.
But yeah, you're right.
They won't be.
And that's why I think that's why these things were allowed to happen, for everyone to come in and beg for Regulation.
And when you, you know, I think it was Ben Franklin who said, when you give up your privacy for a little bit of short-term safety, you never get it back.
And that's something to that extent anyway, he said.
And that's what you're going to see here.
You're going to see regulation in this industry will never be the same again.
Most of these cryptocurrencies will never pass the sniff test of regulation and they'll all die.
And the ones that won't will be the ones, as you said, perhaps that offer some form of utility.
But these other meme and Dogecoin and things that have enriched and made people very wealthy also hurt a lot of other people.
I think that's it.
It's going to be gone.
And I wouldn't be surprised if...
2023 is also the year of massive cryptocurrency regulation.
Well, every time that crypto crashes, Andy, I have a little stack of silver coins on my desk.
You might be able to hear some of that right there.
It's just a little stack.
And every time crypto crashes, I turn my head to the side and I glance at this stack of silver and amazingly, none of it has vanished.
It's all still there.
And I marvel at the atomic reality of silver and how this does not depend on anybody else in the world to buy or sell or cheat or be honest or anything.
It's all right here, physical.
So, Andy, tell people how they can reach you if they're interested in this amazing atomic substance.
I really got to tell you, I love your work.
I love being on your show.
I really appreciate being here and I think you do a great job.
Keep doing what you're doing.
I watch everything you do.
Our new website literally, I want to say, is a week or so away from launching.
I believe we're going to open it up on Monday of this next week to my office as a soft launch to go through the bugs, which will allow people for the first time to purchase online.
Our website right now, milesfranklin.com, is really...
It's good for information.
It doesn't allow purchasing.
The new website is fancy and will.
Somewhere between the first and second week of December, it will be live.
People who are interested in getting a price list from us can send an email to info at milesfranklin.com.
We will send an updated price list.
We are always amongst the most competitive in North America.
We are licensed and bonded.
We are one of only 27 U.S. Mint authorized resellers.
We have never had a customer complaint.
And I'd like to think we're the best in the business, but I'm a little bit prejudiced.
Nonetheless, info at Myles Franklin and put that you saw this show, Mike Adams, and we will give you special attention, make sure your listeners get the best price, answer any questions if you have any, put a phone number if you want to be contacted, and I think your listeners will be happy with the results.
And again, within the next week or two, we'll have a brand new website that will allow online purchasing.
Well, if you're looking for any programming help on that website, I hear there are some former FTX employees and Twitter employees, but they will demand that you have grooming operations on the site if you hire them.
Yeah, you know, I think I'm going to pass on that, but actually the people helping me with my site are someone you know very well, our friends in North Dakota and And we're getting real close.
We're almost done, and we're excited to join the 21st century.
I've done things Mike Oldschool my whole career, and I believe to a certain degree that metals belong more in an analog part of a digital world, and I have run my business that way.
I finally have acquiesced to a degree, but nonetheless, we're in a relationship-based company, and I think where we're heading Relationships will be important.
And I think, you know, if you called me or texted me and said, Andy, I need your help, I'd be there for you, Mike.
And I have that relationship with a lot of my clients too.
And I think where we're going, that'll be worth something.
And so although we will get with the digital world, we're still a relationship-based company and all my brokers are Very, very well trained in geopolitical events and worldwide events and are happy to chat with people if they want.
And if not, we can do things in a more digital capacity here in a week or so.
Okay.
All right.
That sounds good.
And final thing, I don't know why I always feel compelled to say this, but just in the area of transparency, Andy and I do not, we don't have a sponsorship arrangement.
This is not a paid interview or paid gig of any kind.
We have one sponsor, and Andy, you know those guys as well, and that's the one we have.
We're contacted all the time though by other gold retailers that want to pay us to have them on and I'm like, you know what?
I'm just going to have Andy on because Andy knows exactly what he's talking about.
I don't need the sponsorship.
Andy, you have such great information.
I'm always happy to have you on and I'm happy when our people contact you and you take care of them because you're just nailing it.
You're a great communicator so thank you for that.
You're awesome, Mike.
And coming from you, that means a ton, honestly.
And Yeah, I can understand why people would want to have a relationship with you.
You're a breath of fresh air and you're talking about things that are so important.
And so I'm honored to be here.
I really am.
And I'm a phone call away anytime you want to chat about what's happening with bricks or want to know what's going on in the metals industry or just want to chew the fat a little bit.
Certainly something that I I'm always happy to do, even on the spur of the moment.
I just want you to keep me posted when big alerts happen so that I can share that with my audience.
Everybody wants to be ahead of the curve on this.
I can promise you, and that'll be my pleasure.
I'm always looking for a chance to come on and talk to your people.
To you and everyone out there listening, I want you all to have a very happy holiday season and a safe new year.
2023 is gonna be a crazy year, so buckle up, get your house in order, do all the things that Mike's been talking about, not just about metals, but Everything else that he talks about that's so important.
And if anyone out there needs help with metals, we'd love the opportunity.
And Mike, I'd love the opportunity to come back again whenever.
But until then, I'll look forward to picking up where we left off.
We'll do that again soon.
And so, folks, again, Andy Sheckman, milesfranklin.com.
And I just want to encourage you to share this interview, if this resonates with you, or if you think it can help other people get squared away.
Go ahead and forward them this interview.
The disclaimer is that neither Andy nor I are financial advisors, and we're certainly not your financial advisors.
So don't take this as financial advice.
Do your own research and get your own professional advice based on your risk and appetite for risk versus assets and all that stuff, okay?
So thank you for listening.
I'm Mike Adams, founder of Brighteon.com.
I've got a stack of silver right here, and it's staying right where it is.
And I might try to make that stack a little bigger, too.
So I practice what I preach.
But thank you all for listening.
God bless you.
And thank you, Andy, for staying up late, late, late, late at night.
People don't know how late it is there.
It's late, and I appreciate you, man.
So take care.
Pleasure is mine, brother.
You guys all take care.
Thanks again, Mike.
All right.
Thank you.
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