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May 12, 2023 - Health Ranger - Mike Adams
51:36
Precious metals expert David Morgan talks gold, silver, crypto, banks and fiat with Mike Adams
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Welcome to today's interview on Brighteon.com.
I'm Mike Adams, the founder of Brighteon.
And today joining me is one of my favorite people, David Morgan.
His website is themorganreport.com.
He's an expert in silver and money and metals and other interesting things we'll talk about.
Welcome, David Morgan.
It's great to have you on today.
Well, thank you, Mike.
It's great to be here.
Well, we love having you on because your analysis, I think, is very insightful.
You have a lot of experience.
You keep your finger on the pulse of what's happening in terms of money and medals around the world.
You were just telling me before the show you attended the Money Show in Vegas.
What was going on there?
Well, it's interesting, Mike.
You know, I didn't get a head count from the promoter, but my eyes are pretty good.
And I'd say that the general audience was about half as many people as I saw the previous year.
And I was there, you know, a year ago, same exact show, The Bunny Show in Las Vegas.
Also, what's interesting is since I'm, you know, a specialist in the resource sector, primarily precious metals, but we look at the whole sector, rare earth elements, cobalt, battery metals, then papers, white papers, interviews on all those things.
And my attendance was probably double or triple what I didn't normally get.
So my conclusion is that the general investing public, which is the money show, Is not participating as much for whatever reason, and people that were there were more interested than ever in hearing the metal story.
My talk, just so you know, was specific.
Sorry to interrupt you there, David.
So you're saying that in the investment community show in Vegas, the attendance was a lot lower, but the interest in silver appears to be really skyrocketing.
Is that a fair summary?
Yes, because the talk was very specific.
The talk was, is silver an asymmetric trade?
And as we all know, asymmetric means very limited downside and almost unlimited upside.
And I made the argument.
In fact, there was a group there in the precious metals community from Ireland.
That attended that show.
They're friends of mine.
I actually have an account with them, full disclosure, called Gold Core.
And they attended.
And, you know, more interest, I'd say, than normal, especially in the precious metals arena.
Well, as you know, and I'd like to hear your comments on this, but with the bank collapse, starting with Silicon Valley Bank was the big one, you know, a couple of months back.
Then after that, I'm sure you experienced the most insane surge of interest and demand in metals.
Perhaps of your career?
You tell us.
What was that like?
Yeah, I would say it was similar to the 2008 bottom, the crisis.
I mean, the mainstream calls it a crisis.
At that time, I had a few that would call, and one I always like to brag about, but I have to keep the anonymity.
But this gentleman was way up the banking sector, not like BIS level, but not far from it.
And he wanted a quantity of silver that...
It was substantial.
And he purchased it.
It was interesting.
He asked if he wanted foreign or domestic.
He wanted domestic.
I gave him the phone number to somebody that's started.
He's actually a warehouse, a certified warehouse for the COMEX. I mean, it's at that level.
But it was interesting.
He said, I don't want to see it.
I don't want to touch it.
I just want to know it's there.
I want it where I can get it or ship it out if I want it.
And I... Connected them for that.
So I said all that to say this.
Now what's happened recently, and the same similar things have happened.
You know, someone with a business or, you know, a lot of money.
And regular people, too.
But, I mean, you're asking me specifically.
And the run to gold that I predicted a few months ago or so, maybe six, seven months ago, is here.
And a lot of people are moving into silver, as they have.
And the question is, I have got a million dollars in the bank.
I've never bought gold in my life.
What do I do?
Oh, wow.
$2 billion in the bank.
Not that they put all of that money into the metals, but I could reframe it, Mike, to say that a substantial net worth, it's all in the bank.
That scares the holy living heck out of me.
I need to move into metals.
Can you help me?
But yes, I have had those conversations.
Well, see, that's fascinating to me that people are understanding the risk of just leaving fiat dollars in a bank because those bank collapses really brought that point home to a lot of people that, whoa, your money is not necessarily safe in certain institutions or perhaps in the currency, the fiat currency itself.
Now, but here's something that I experienced.
Let me run this past you, David.
When I went online recently, established an investment account with a brokerage, and I decided to buy some vaulted gold and silver funds, right?
So every share I buy just represents a physical amount of gold and silver that's held in a vault somewhere.
And these are ETFs, so it's pretty easy for me to buy and sell.
I noticed that when I wanted to buy the first trade, It pops up and says, oh, you have to elevate your acceptance of super crazy risk levels in order to buy this gold or silver ETF because it might be crazy dangerous.
You might lose everything.
And so you click agree, agree, agree.
But if you go to a bank and you put dollars in a bank that it's going to fail next week, there's no warnings.
Nothing.
I mean, how crazy is that?
Well, it's crazy.
I just have to add on to that, Mike.
I mean, one of the most heavily watched videos I've ever done was with Stansberry Research talking about the bail-ins, where I explained, and many people have tagged on, and I'm not saying I was the first, but I certainly won the first.
I said, when you deposit your quote-unquote money at a bank, it is actually their money at law.
You are an unsecured credit in the bank.
That's how they look at it.
So not only do they not tell you that our bank may fail, but if their bank may fail, they may take their money from you because you deposited it in their bank.
And yet, if you want to buy silver and gold, you have to go around the mulberry bush three or four times.
Yeah, I know.
It's bonkers.
And even I've also heard of some people attempting, I mean, I'm sure you've heard this, attempting to wire money to purchase gold or silver, and the bank asking them, you know, almost hounding them, are you sure?
Are you sure?
Do you know where you're sending your money?
Are you sure it's not a scam?
You know, it's just all these endless questions.
This happened to people I know.
Because the banks just don't want to let go of that money if people are using it to buy gold or silver in particular.
It's almost like you're being hounded by a pack of wolves to try to make it as difficult as possible for you to wire money out of their bank.
Well, let's go a step beyond that.
All that you said is true.
In fact, I'll just add a little more that I've had instances where people overseas, because my publication is worldwide.
It's translated into German.
It has been for years.
And people that were in the UK wanted to wire me money.
And the bank said the same thing.
Well, how do you know this?
Because I've had a relationship with David for 10 years.
I did it last year.
Why can't I do it this year?
But I also wanted to connect what you just said, because this is something that is not very well discussed in my view.
And I listen to a lot of people in my peer group.
Not only do they make it hard to wire money for metals, but they make it difficult, especially in the silver arena.
And what do I mean?
Value-added tax.
If you want to buy gold in the UK, for example, there may be a slight VAT, I'm not sure, but it's minimal.
But to buy silver, it's onerous.
And in almost all the European countries, it's onerous to buy silver.
So you can buy silver, but all I have to do is pay.
You talk about the high premiums in the US. Think about a high premium and a value-added tax, like 20%.
So there's a very, very big discouragement outside of North America.
To buy silver and not so much on the gold market.
Wow.
Japan's the same thing.
So if it was a free and fair market, free and fair, And let's say a precious metal is a precious metal, or it's, you know, platinum, palladium, silver, or gold.
And they were treated the same.
In other words, there was, let's say, a 2% VAT across the board.
I think you'd see a hell of a lot more silver investment than you see now.
When you're a friendly local dealer and you say, hey, you can buy gold, but you're only going to be hit by this much.
But if you buy silver, you're going to be hit 10 times harder.
Well, it's just, yeah, well, I'll buy the gold.
And this is a subtlety that, again, is very seldom voiced in our community.
But I want to bring that point to the fore, Mike, because not only do you let people speak their mind on your program, which I admire you for, but we got to get real about why these type of things take place.
And I think the real why is silver is more valuable from the context of what it can do as a performance basis.
Gold makes great jewelry and it's probably the best money.
I might put the best in quotes.
But silver is an absolute essential to modern society.
Without silver, we wouldn't be having this conversation.
We couldn't have a computer.
Green energy, solar panels.
Right.
I mean, there are many ounces of silver, I believe, in every large solar panel, or at least some portion of silver.
Let me just remind people, themorganreports.com is your website.
Let me bring it up here.
Folks, you can go in.
You can sign up here.
You get the free newsletter.
Or free email, but I know you have a paid...
Yeah, I do free and paid both.
Right, right.
And then some videos and so on.
And I just want to encourage people to sign up there.
And also, just to let people know that, David, either your video is still frozen, which is okay, or you are the world's greatest ventriloquist.
And you have a very promising career in that area.
But we shall just continue.
Let me show you this.
Another guest I had on here gave me this silver.
It's two ounces of 999 silver.
And this is a 7.62x51 bullet plus cartridge.
But it's all silver.
Obviously, you can't fire it.
There's no primer.
There's no powder.
It's silver.
So there we go.
Pretty cool, huh?
Very cool.
In fact, I have one of my friends in the UK is one that actually thought up that idea, and the first person that actually did it was Ross Hansen of Northwest Territorial Mint.
Is that right?
Many of those, yes.
Well, maybe this is from his mint.
I don't know.
Probably is.
I don't know of anyone else that manufactured them.
I think he was the only one.
Well, I'm really liking these, and I know it's just a novelty, but it's also representative of two things that I love as stores of value, silver and ammo, combined into one.
It's amazing.
Well, I wish my screen wasn't frozen, because I wanted to show you these goldbacks that I took to Las Vegas.
Oh, you took some goldbacks!
Nice!
Yeah, and I gave them out to a lot of people that just came to my Presentation and other vendors there.
And also on the way in to the valet, the bellhop, you know, all the courtesy people.
And it's interesting, Mike, to see what the reaction is.
Because the first thing I say is this is 24 karat gold.
And it's not like people are real happy about it.
Most of them.
What, they don't quite get it?
Not only is it pure gold, but it's going to be a collector's item.
Right.
Once I say that, then they're like, okay, but, you know, they'd much rather have that piece of fiat that can be printed into infinity than, you know, something of real value.
And I do that often for an experiment.
Now, on the show floor...
It's a different story because these are, you know, people at the money show, people who want to speak to me or whatever, and they're much more familiar with real value.
But you go out on the street and you say, hey, would you want this or would you want that?
It's like way back in the day of, you know, Mark Dice.
I mean, do you want a Hershey's bar or do you want a silver bar?
I'll take the candy, right?
Yeah.
It's crazy.
It's wild.
But it just tells you how far people's perceptions have moved from reality.
But here's the contrast I want to ask you about that, David, although thanks for bringing up that example.
But people are distanced.
Through media, propaganda, and so on, they're distanced from what is real money.
And yet, at the same time, the central banks of the world are buying record amounts of gold.
And that is continuing.
And you might have better...
I mean, you might...
I know you follow this, David, so share numbers with us if you can.
But isn't it true that China and banks all over the world are just loading up on gold right now?
No, you have it absolutely correct.
Yeah.
Well, Gold Council, I think, put out that there have been more gold purchase in 2022 than in the past 50 years.
Then they did a slight retraction, and I don't remember exactly what it was, but the general idea is correct.
And the first quarter of this year, 2023, they were on basically the same trajectory of how much gold was being purchased by central banks.
Central banks, from my strong, steady view, know that gold is the money of last resort.
I don't think they're going to use it unless they have to.
My position at this time is they want to continue the fiat fiesco in a new manner, meaning a CBDC, unbacked by anything.
Just trust us.
Maybe they'll be able to flush out some of the debt one way or another, create an entity that just swallows up this worthless debt.
I don't know.
But I don't think they're going to play the gold card unless they have to.
That's my take.
Well, that's interesting.
But it seems like they're going to be forced into a position where they may have to back their currency with some percentage of gold.
Not 100%, let's say, but 15%, 20%, something like that.
I mean, look at Venezuela, for example.
I think they've already started that process of trying to have some kind of gold backing.
Aren't they going to all have to do this at some point?
Well, I think they will, because of shows like yours, you know, that educate people and let them know, why would I want a completely worthless system that's failed to be superseded by a system that has the same exact parameters, except it's more onerous?
Or any thinking person would say, I rejected your first one, I sure as heck am going to reject the second one.
And the only way around that that I know of is what history has taught us.
We're going to give you something of value.
We're going to back it by 40% gold is, you know, the norm, but there isn't a norm in this world.
But your idea is right.
It doesn't have to be a 100% backed currency, although, you know, could be, I doubt it.
But the idea that we've got to regain your trust, you don't trust us, you trust gold, we're going to tie it to gold.
I think that probably will eventually happen, but I'm still...
Of the idea that they'll try their phony baloney system in the digital space without any tidable initially.
And if that doesn't work, then they'll come back.
Thank you for that analysis.
And let's talk about the digital space.
You just brought it up.
So it seems that all of us are going to be forced, or at least corralled, an attempt to push us into central bank digital currency systems.
Digital money, the FedNow payment system might be the precursor to that, and it's launching soon, within a couple of months.
And as they try to push us into central bank digital currencies, it really brings up the question, especially in light of the bank collapse, And I've come to this realization, I would rather trust, frankly, a private peer-to-peer cryptocurrency than a central bank digital currency.
I mean, I'm literally at that crossroads where I'm like, if I'm going to go digital, I want decentralized digital.
I don't want central controlled government surveilled digital, right?
So are you hearing that or thinking that as well or something...
Yes, I am.
I'll qualify it.
First of all, I don't listen to everything that you put out, but I do listen to quite a bit, and I happen to catch that one.
And, you know, you always speak from the head and the heart.
You're a smart guy, and you've helped a ton of people, and you continue to do so.
Yeah, I would say, if there was a choice, you know, I definitely would rather do a peer-to-peer system.
Definitely, we need to decentralize.
I think that's the key.
The bankers have run us to the ground.
I mean, I have a good life.
You have a good life.
That's not my point.
The point is we're all enslaved at one level or another because of the current system.
So we need a system where we take the power back, and that's peer-to-peer.
So if it's peer-to-peer with a crypto, peer-to-peer with a silver coin, peer-to-peer with precious metals on the blockchain, If it's a bartering club, if it's making your own Ithaca dollars like was done in New York years ago, or wooden nickels like in the Great Depression, any of those things, in my opinion, are fine as long as it comes to the exact root of the problem.
We control our own interactions with other people.
We don't need a counterparty that tells us everything that we have to do, think, and say.
And if we don't do what we're told to think, do, and say, we're punished.
This is where we're going, and this is probably the most onerous thing I can think of in my entire life's work, because I've been an advocate to put power back into people's hands through an honest system.
Absolutely.
It's honest to the process.
100%.
I've shared this publicly on the show, and I'll repeat it to you.
Something else that's driving me into these realizations is the fact that myself and my company have been put on a financial blacklist.
So not only PayPal canceled my account, that happened a while ago, and they've done that to lots of people just based solely on viewpoint discrimination.
But we know that J.P. Morgan has canceled accounts of people just because they were conservatives or Christians.
We know the IRS audits nonprofits solely because they are Christian-based.
We know that anybody who's close to Trump gets audited and often arrested for merely being a Trump associate.
And, you know, I've come to the realization...
I mean, I can't even use mainstream financial service providers of any kind because of this blacklist.
And it's like, well, guess what?
I have no choice.
I'm going to embrace decentralized finance because it's the only thing that restores wealth.
What money is supposed to be when you're dealing with, you know, international transactions, buying and selling, paying vendors, all the things you have to do to run a business.
I can't do it in dollars much longer because they've weaponized it.
I sympathize.
I've had my issues as well.
If you look at someone of the stature of Catherine Austin Fitz of Solari.com, I don't know if it's still true, but I subscribe to her service and...
To the best of my knowledge, Mike, she said, you know, we've got those type of issues.
The only way you subscribe is send the check.
Yeah.
And we're not able to process any other way.
That's right.
So, of course, I sent her a check and I also closed a little silver with it.
Good for you.
But, you know, this is...
But it's so unfair.
And it's just plain wrong.
I mean, the whole...
And I'm going to get on a tangent.
You can bring me back.
But the whole premise...
We have God-given rights.
We have inalienable rights that are ours because we are born.
And the government was only created for one purpose, one purpose only, and that was to secure those God-given rights.
And how far we've come from that time till now.
Well, absolutely.
And think about the definition of money.
It has to be, you know, fungible.
You know, every dollar has to be as good as every other dollar.
But what we're actually being told, those of us who hold conservative views, we're being told something that actually smacks of, you know, anti-black racism in the plantation days.
We're being told, your money's no good because of who you are.
It's filthy money.
We don't want to touch it.
Which is insane.
And that means that the dollar is no longer fungible, which means it is not useful long-term as a currency because a currency has to be fungible, it has to be trusted, it has to be universal, it has to come without judgment.
Otherwise, it doesn't function as money.
Right.
And that's, I think, a tangent I want to take because...
I think that, you know, when history looks back and says when, and it's pretty easy to do with 2020 hindsight, this is my guess.
The historians on the monetary sphere are going to say what happened was when the United States weaponized the U.S. dollar and told Russia that their account was frozen.
That was the point in history.
That's probably the point in history, monetary history, where the whole system went kapooey.
Yeah, we're still trading back and forth, but from a longer-term perspective, the history books will probably say that was the beginning of the end.
And they're scrambling, in my view.
I don't think these bankers are all – they're very clever, they're very shrewd, but they're not really that smart.
They hire smart people.
But they're really not that smart.
Their ethics don't exist.
Right.
So it's hard to get a solid base of anything in life if you're unethical.
If you don't have the, you know, understanding how the world really works and you try to make it work the way you want to and create the play with your own actors and etc.
and control everything.
That never works.
That's why...
When these banks collapse, and I'll ask you if you think more bank collapses are coming, but when these banks collapse, I feel sorry for the depositors But I don't feel sorry for the banksters and the bank principals and the shareholders because they're crooks.
They're crooks.
I mean, they took people's money.
They threw it into instruments that lost a lot of money.
They made bad decisions.
In the case of a lot of these banks, they were holding woke parties all day and night, cross-dressing bonanza in the lobby, whatever, but not doing the business of bankers, which is supposed to be Paying attention to risk and watching the money that you're supposed to be holding on to and maybe not losing.
I don't feel sorry for them at all, David.
I think as they collapse, they get exactly what they deserve.
Yeah, I agree.
The whole idea of a real, true free market capitalism, and of course capitalism is blamed continually, but people that write that either know or most don't what real capitalism is.
It's the right to succeed or the right to fail.
So if you put up a bank that doesn't perform and you're a shareholder in the bank and it fails, that's the way the system is supposed to work.
That's right.
I don't feel far for them either.
You're supposed to do due diligence before you invest in the bank.
That's right.
Or any investment.
Exactly.
And the whole system has been rigged, what we call now crony capitalism, where People like you and I can't get access to, let's say, some exchanges off of a payment platform because of our belief system, as you just outlined.
And others can't.
Totally unfair.
Yeah, exactly.
And let me just lay this out for you here, how crazy this is.
If I were a surgeon who mutilated children's genitals for profit, those financial institutions would be thrilled to work with me.
But if I'm someone teaching the Word of God, let's say, or if I'm teaching liberty, if I'm teaching people how to grow food, oh, no, no, no, you're bad, you're not allowed, you should be mutilating children's genitals, that would be okay.
Like, that's where we are.
Yeah, it is.
And it's just, really, I don't have the right word upset is not strong enough, but, you know, if you go back, I don't want to make this too much about me, but if you take me back 10 years and ask me, Would I think it be where we are?
I would say no.
I would have said that the financial system probably would have collapsed before it has, but also that we had enough moral value left in this country that it wouldn't get to where it's gotten.
I was wrong.
It's more evil than I could ever imagine.
And it's promoted.
That's what really boggles my mind.
I shouldn't say boggles because I fully understand the fact that the six networks are basically owned by a small handful.
And all they do is propagandize the public all the time.
And yet 80% of the population doesn't even know that it's all propaganda.
There isn't a modicum of truth in hardly anything that comes out.
And a few things that might be quote-unquote truthful are distorted or used in a way to persuade you for some idea that is off base.
And this is our reality.
And when someone like you and I meet someone from the general public, we automatically grow tinfoil hats because they've been programmed so strongly.
That anything that we say that's contradictory to their programming puts them over the top.
And they choose the Hershey bar over the silver coin, too, by the way.
Chocolate over silver.
There's an IQ test that we should give to everybody.
But what's weird is how global finance is actually intertwined with culture and the culture wars.
For example, I'm going to have a guest coming on soon who's a journalist in Japan.
And she's going to talk about how the United States, through the banking cartels, which is the SWIFT system and Japan's central bank and so on, is putting pressure on Japan's government to accept transgenderism being pushed in the culture.
So there's an implied threat, kind of like how they cut Russia off from SWIFT.
They can go to Japan and they can say, well, if you don't allow more transgenderism in the schools to turn young Japanese boys into little girls, then we might make sure that SWIFT doesn't work for your banks.
You see, it's intertwined.
And it's a kind of, it's a cultural bullying on a global scale that ultimately I think it just makes more enemies, not friends.
It does.
Now the truth is the most, you know, I've made the quote many times.
There's nothing more powerful there.
And the truth is, when you talk about, and not you, Mike, but the general populace talks about transgenderism or, you know, what used to be called queer, and there's so many other names.
I don't know the LBQRSTB. You know, I don't know all the letters.
What I do know is it's about 1%, 1.5% of the population.
And when you think about the truth, that it's that small population, and that's based on what I've read, it may be slightly higher or lower.
The point is, it's a very small percentage.
And yet, when you're spending 90% of the time just pushing this idea over and over again, you've got to ask why.
Why is this happening?
Because the 1%, I mean, for me, Leave me alone.
You know, I'm not going to bother you.
You don't bother me.
That's the way you are.
It's none of my business.
Right.
But it is my business when I can't turn any channel on in the mainstream or even in some of the alt stuff that doesn't push this agenda.
And I think it's to not only morally destroy what's left of the natural ethics that people are born with.
I mean, we all have kind of an internal...
Now, if you're young, and you're confused, and you look up to the pier, which is any adult, and they're telling you, well, you don't know who you are.
You can be whatever you want to be.
I mean, how sick is that?
It can't get more sick.
Yeah, well, I was joking on the show the other day, you know, thank goodness that we don't take kids who say they want to be a pirate and gouge out their eye and cut off their leg and say, okay, you're a pirate now.
I mean, because that would be insane.
But they do that when they say they want to be a girl.
I mean, it's completely crazy.
But let me bring up something else.
In the corporate world, Corporations run on credit, and the larger your organization, the more credit you need in order to function.
But through ESG, Environmental Social Governance Score Systems, if you don't embrace everything that is demanded, which goes beyond transgenderism, but also the climate narrative, which is scientifically false, And other things, you know, maybe about elections, maybe about war, whatever.
If you don't embrace an even virtue signal as a corporation, then you have to pay higher rates for credit.
So they're costing corporations...
On their bottom line, like, if you don't go along with this, there's going to be a financial penalty, which may put you out of business because your competitor, who just hired a cross-dressing man to be a spokesperson for a beer brand, let's say, well, they're going to get cheaper credit because they're virtue signaling in a proper way.
So this is just screwing, pardon my language, but screwing with the free market principles of risk and reward and investment and debt and credit.
They're messing up the whole system.
To where the best ideas cannot possibly succeed.
Yeah, you're correct.
And let's go back to what I said earlier.
If you are the director of the play, as a metaphor, and you have to put, you know, this first, that second, this one doesn't count, this one counts more than the other, and all that that you're talking about, those things always fail.
And the more they're failing, the harder they push.
One of the hardest things to do in my business is to call a top.
Because when a top comes, everybody's so exuberant.
It can only go higher.
Everybody's made money.
It's a new high.
And, you know, let's face it.
You have to make a lot of new highs to go from $20 Tesla stock to $180 or wherever it went to.
There's many new highs along that path.
But at some point, it's at the top.
And that's where people get taken.
Because...
Once there's no more buyers and there's only sellers, who are you going to sell to?
I made that analogy, Mike, to say this.
As hard and as difficult as it seems to be, I truly think that the peak nonsense has already passed us.
Really?
That's inspiring to hear.
Say more.
I think that there's enough behind-the-scenes thing That's going on of the real ethics, morals, and let's say classic culture, that the pushback may be apparent.
And I say pushback.
It's not going to change overnight.
But there'll be more and more things that come to the fore that people go, wow, that's really interesting.
Why did that happen?
Well, that's really interesting.
Those guys won the lawsuit against that, you know, whatever.
And those type of things.
So I'm looking for that.
I'm kind of sniffing it out at this point.
I always try to look ahead.
I've never tried to be a visionary.
I just have been lucky in that department a few times.
Just a quick example, I saw the cellular phone industry.
It's just a massive change in humanity way before most people thought about it.
It's like, you know, I remember my mom said, who would want a cell phone?
Why do Well, to your point, while you were talking, I brought up this map.
I saw the story on LifeSite News this morning.
This map shows all the states that are taking action against gender transitions.
And the color codes here are...
Here we go.
All the red states here have banned transgender surgeries.
I mean, I know this is not a show about culture specifically, but I just thought I'd throw this in.
And then you can see the color code blocked in court.
And if you look at this map, you know...
A fairly large number, it looks like almost a couple dozen states here, are taking some kind of action.
So you may be right, David, that maybe we've already reached peak insanity and the tipping point or the turning point is here.
But let me segue that back to dollars and the banking system.
Have we reached yet peak insanity on the money printing?
Because I have a feeling we haven't.
I have a feeling they're going to keep printing more and more and...
You know, at what point does that just stop working?
Yeah, that is, you know, what I've struggled with for a long time.
And not to be confrontational, but it could have already happened.
Let me explain.
If, you know, anything in the world culture, I'll call it, that there's a lot of doesn't have much value.
So if there's a lot of dollars, they start losing value that we've all preached for, you know, 20, 30, 40, 50 years.
I mean, you go back to some of my predecessors and, you know, they'll tell you that.
And that's the truth.
That's one of the ultimate truths in the monetary system.
However, what has to take place is that the populace, not 50%, not even 10%, it could be as small as a couple percent, reject it.
They quit using it.
They look for an alternative.
And that was what we talked about earlier.
If it's a wooden nickel, if it's crypto peer to peer, whatever.
And we're seeing that more and more, which is a strong indicator that we are at the tipping point or close to it, which means they will continue to print, but then the market itself rejects it.
So let's just take that one step further and do a thought experiment.
Let's say that the pivot happens, as so many of my peer group have talked about.
The Fed's up against the wall.
Things are going worse and worse.
Inflation, they're going to pretend it's getting a little bit better, and employment's getting a little bit better, but we're going to lower interest rates and solve everybody's problems and print more.
Well, as a thought experiment, what if that is the tip?
What if that's when industry and And the credit markets understand that the United States is not ever going to be good on their promises.
They'll pay you in dollars, but they're going to be as good as Venezuelan dollars.
And that's when I don't want anything to do with it.
I'm going to look for an alternative.
I'm moving into crypto.
I'm moving into precious metals.
I'm going to settle with goods for goods.
I'm going to ship all my wheat and I want plums in return, whatever it is.
So I think we're pretty close to it, actually.
I do believe the man on the street, the woman on the street, if you're so correct these days, goes into the grocery store and says, I'm just making it.
I'm, you know, two or three paychecks ahead, but I know darn well if I buy this peanut butter now, it's going to save me money six months from now.
When we hit that point and enough people start doing that type of a thought process, it's pretty much over.
Well, I think we're really close to that as well because, you know, food inflation is something that affects everyone because everyone eats.
And as a result, the more the Biden administration says that inflation is getting lower and that or there's hardly any real inflation, the more they do that, the more everyday people realize that they're full of bunk because they're at the grocery store the more everyday people realize that they're full of bunk because they're at the grocery They're buying food and it's crazy.
And, you know, they're paying double what they were often 18 months ago or at restaurants.
You know, sometimes it's prices can double in a year right now.
I mean, I've seen that.
I'm not saying it's across the board.
I'm not saying that bread is double or milk is double, but it's getting there.
So the more money printing that happens, it seems the faster this is going to the food inflation is going to hit.
And the more people are going to get red-pilled, as we say about this, and realize that, gosh, you know, the dollars just aren't holding value, period.
Yeah, it will be rejected, and it has been.
I mean, that's why, at the end of all great inflations, you see alternatives.
And, you know, Bitcoin, like it or leave it, and I'm not a big fan of it, but regardless, it was a precursor to You know, this whole idea of making a decentralized financial system of some type.
And I've got to digress for a moment, Mike, but at the Money Show, my friend from Ireland told me an old Irish saying.
He says, there's three things you can't hide.
You can't hide the sun, the moon, or the truth.
And I think that's what we're really underlying this theme the whole talk, is that more and more people Are almost forced into seeing what's real.
This is just ridiculous.
Whatever it is, they start to wake up.
Because once they start to question the mainstream narrative, be it on any issue, be it on prices, be it on transgenderism, be it on whatever, that automatically puts a seed into the thought process of, well, if that's not true, and I know it's not, And what else are they lying about?
Yes.
Yeah.
And that realization is hitting home for millions of people.
I mean, just look at Tucker Carlson, left Fox News, went over to Twitter, posted one video, and I think that video got 100 million views or some crazy number like that, which is more than he ever got on Fox.
So it's like, wow, the rules are changing.
And I think the rules are changing about money, they're changing about food, they're changing about, you know, well, currency, as well as technology and media and so on.
And I get the sense that the powers that be are just, their desperation is really showing the rules, the oppressive tactics that they thought would be effective have not been as effective as they hoped.
And they're losing control day by day, and it's driving them nuts, and they're becoming dangerous as a result.
What do you think?
Totally agree.
I mean, what is it?
Rule 42.
I forget the term.
It's 42 is the number.
But these ideas that they keep making it more and more difficult to control the play, as I keep talking about, and that means they're actually fearful.
And they've got to control it even more than they already think they have and it's not working.
I mean, you cannot really undo natural law.
You can try.
And you can maybe make it happen for a while.
And you can have a cancel culture and make sure that you're, you know, detweeted or whatever the term is.
You're, you know, and that can work for a while.
But again, you can't hide the truth.
And the truth is powerful and people are waking up and they've had enough.
I mean, to your point, to your point, if right now, if the government said that gold is illegal and everybody has to turn in their gold, Almost no one would turn in their gold.
Totally agree.
The ATF has said that arm braces are illegal, and that everybody has to register their arm brace AR-15s, and there are estimated to be 10 million of them in America.
They've only received maybe 100,000 registrations, which means that there are almost 10 million people who said, no, we're not going to register.
Same thing with crypto, also, by the way.
Imagine if the Treasury, if Yellen comes out and says, oh, all crypto is illegal now, you can't use it.
People are just going to keep using it because what are you going to do?
What are you, the government, going to do?
I mean, gold, silver, crypto, ammo, guns, what are you going to do?
You're going to go door to door and take everything?
You're going to dig it all up?
You're going to break everybody's cryptography?
You're going to hack everybody's passwords?
I mean, seriously, what are you going to do?
I think we've reached that point where the people are basically saying a big bleep you to the government at this point.
Yes.
Yeah.
Now, again, that goes back to, you know, have we reached a tipping point?
Have we seen peak craziness?
Peak insanity, I think, is your word.
I like that the best.
Have we hit peak insanity?
We may have.
I don't know.
I don't either.
Every time I think we've hit peak insanity, more crazy comes out.
So, like, my definition of crazy has had to be expanded every year.
So what do we do with all this?
Well, we keep doing what we're doing.
I think education is the key.
And I think individualism, you know, I think the idea that the truth, well, I keep overusing the word, but the idea was that you had your rights protected even if the majority ruled against you.
It's called the rule of law.
So if you were lawful and yet your neighbors all said, well, you can't this, but lawfully you were correct, your rights were protected.
But now you have to vote the way you're told to vote or your social credit score goes down and you can't get your bank account over.
Right.
So we stay on track.
Keep doing what we're doing.
I mean, I know a lot of people are stacking silver and gold.
A lot of people are buying food in advance to beat the inflation.
A lot of people are moving out to the country.
Relocations are happening at an epic scale.
So...
Does that seem like the right plan?
Yeah, the right plan.
Power comes from A lot of places.
But for my life, it comes from the head and the heart.
And I think that people need to, again, what I said, educate.
I mean, there's a few just really basic books.
Most are from the Mises Institute.
Maury Rothbard, What Has the Government Done to Our Money?
There's ones on, you know, small, almost booklet-sized forms that can really teach people how the system and how a true, honest system can work.
And if you have that knowledge, you can make pretty strong arguments.
I like the Socratic method, where you don't argue, you just question.
You know, well, cryptocurrencies don't work.
Oh, they don't.
Okay, why don't they work?
And that type of thing.
Well, the government has to make the money.
Well, why does the government have to make the money?
You know, we have to have this This law.
Well, you know what?
The U.S. did quite fine with not an income tax up until 1913.
How did that work?
I mean, those type of things.
And this is what I think can get a discussion, even between the red, blue, green, purple, and polka dot.
I don't care.
I care about people generally.
And I care about this country.
And as so often used to be said, and I'm sure many on your show have talked about it, but love of country is Right.
That's right.
And that's a lot more people realizing that right now.
So, David, we're going to wrap this up.
This has already been really fascinating, and I hope we get a chance to talk again soon.
Let me give out your website, themorganreport.com, and I encourage people to go there, sign up for your newsletter, read this page.
Watch David Morgan's videos.
He's got a lot of videos out there, including on brighteon.com.
And share this video also anywhere you'd like to.
And this will be cross-posted on Rumble and BitChute and other places as well.
David, what would you like to leave people with today as a practical item or an overview?
I think it has to do with reconnecting with real value.
I think this whole thing has been an idea that, especially in the West, that money solves all problems, or if you have enough money, you're free, or all those types of things.
But the real value, and if you remember my, and I don't know if you've ever even watched the Four Horsemen film, but I was asked something, and I talked about what used to make America great.
This is way before the MAGA movement, way before.
I said it wasn't the greatest food or the best chef or the finest movie or the best book or the finest tailor, all these things that we put on at the end of these great inflations as being important.
So what makes America great was integrity.
When we did what we said we were going to do, when our word meant something, and that's the type of values we need to get back to.
And there are leaders in the field.
You're one of them.
There's more than you.
There's several.
That are willing to do what needs to be done regardless of what people think or what might be popular at the time.
Because the truth marches on majestically, whether you recognize it or not.
Coming from the back end and looking from history, looking backwards like we talked about earlier, it will prove itself out all by itself.
Well said, exactly.
The truth will prevail, and I believe that future historians will look back at this time and they will call it the Age of Insanity.
I mean, so many examples, and it's obvious.
So don't go along with the insanity.
Instead, think for yourself and be prepared, folks, for what's coming in terms of more bank collapse.
Oh, I forgot to ask you to answer that question, David.
One prediction.
Will more banks collapse this year?
Yeah, there's somewhere between 4,600 and 4,800 regional banks in the United States.
Someone that I adhere to their thinking says he thinks that half of them will fail.
I can't prove that.
Who says that?
What?
I forget who it was.
Hewitt or something.
One of these guys on the internet that's got a pretty strong following.
It's made a lot of sense to me over the years.
And that's possible.
They're all interconnected.
The problem is that one bank is a counterparty to another bank is a counterparty to another bank is a counterparty to another bank.
And that's where the risk is.
And your counterparty can...
I win.
I made a bet against you, Mike, that blah, blah, blah, blah, but you're insolvent.
You can't pay me.
So who really loses?
We both lose.
You can't pay me and I can't get paid, so I'm out of business.
Well, this is the one time when my prediction is more conservative than yours, David, because I publicly predicted there might be half a dozen more banks collapse by the end of the year.
And you're saying it might be hundreds?
Well, I want to qualify that.
Yeah, qualify that if you want.
Yeah, it would be in, I would say in theory only, it would be a mass consolidation.
So let's say for an example that a big money center bank takes over this other bank.
Well, those regional banks, there might be 300 of those banks, right?
So that's in my statistic.
But people think of it as one bank.
The XYZ Bank was taken over by J.P. Morgan, okay?
Well, they think of that bank took over that bank.
No, they took over that bank's total holdings, which was 300 in whatever states.
And they also took over the ABC Bank, and they had 500 banks.
So if you start looking at it from that perspective, you might see that the number I'm talking about could, and I didn't even say it.
I'm not saying he's right or he's wrong, and I'm not trying to scare anyone.
But there's a consolidation at hand that's very obvious.
The powers that be want the regional banks to fail.
They want to put it all in the money center banks, and they can consolidate their control into fewer and fewer, which means you've got your all-seeing eye looking over the entire world, and it's one entity that controls everything.
That's their AI. That's what they're shooting for.
Okay.
All right.
You can take it however you want.
But thanks for letting me explain it.
Yeah, yeah.
Yeah, fair enough.
And I appreciate you doing that.
And I just want to thank you for being here today.
And also, I want to see if I could talk you into having the David Morgan line of silver ammo, which is also useful for gun battles with undead zombies, it turns out.
This could be another business idea, David.
Definitely.
But functional, like actual silver bullets, but brass case with gunpowder.
You know what I'm saying?
Actual silver bullets, functional.
How about that?
The most expensive ammo in the world.
Okay.
All right, we're having a little fun, but thank you, David.
I appreciate you and your time, and I think you're spot on, and I think the information you've offered here today is very valuable, so thank you for spending time with us.
Always a pleasure, Mike.
Thank you.
All right.
Thank you.
Take care.
The website, folks, is themorganreport.com.
And sign up there to get more information from David Morgan.
And thank you for joining me today.
Feel free to repost this interview on other platforms and channels.
I'm Mike Adams, the founder of brighttown.com, where we have uncensored conversations, as you can tell, like we had today.
But thanks for watching.
God bless you all.
God bless America.
Take care.
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