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July 10, 2023 - Health Ranger - Mike Adams
17:37
GOLD, SILVER and CRYPTO all allow self-custody while avoiding counter-party risk
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You know how I've been talking about gold and silver and crypto?
And how I'm switching my own personal after-tax savings to those three assets solely?
Gold, silver, and crypto.
You know what those three things have in common that's absolutely critical to understand that most people are missing?
Two concepts.
Self-custody and lack of counterparty risk.
So, oblivious people say, oh, I'm going to keep my money in the bank.
Well, you don't have custody in the bank.
The bank has custody.
So what happens if the bank fails?
Oh, you become a creditor.
Uh-huh, you might not get your money out.
It's not really your money if you don't control it, is it?
So self-custody is absolutely critical for, you know, ownership.
If you don't have custody, you don't really own it, technically.
You have a claim to it, but you don't really own it.
So physical gold and silver in your hands, it's yours because you have possession, because you have control.
And as they say also, possession is nine-tenths of the law.
It's kind of like, oh, you want the gold?
You know, come and try to take it, right?
That kind of thing.
Crypto is the same way.
Once you have crypto in your own wallet, you have self-custody.
It's under your control.
Now, of course, if you keep your crypto on online exchanges, then it's in their custody, and that's not very smart.
Nobody should be doing that.
I mean, literally, no one should be doing that.
So if you buy it in an online exchange, make sure you transfer it to your own custody, your own wallet, with your own keys, your own passport, your own control.
That's the only way it's yours.
So these three properties are really critical to understand.
Think about all the assets that people deal with or that they might have.
Treasuries.
Are treasuries in their custody?
No.
Treasuries are in the custody of, well, the U.S. Treasury.
I mean, bank deposits, savings account, checking account, stocks.
Are stocks in your custody?
No, you're probably buying stocks through an online brokerage.
So the money is in their custody.
And what happens when those brokerages go bankrupt?
I don't know.
Just ask the people who lost hundreds of millions of dollars in, let's say, MF Global.
John Corzine, huh?
If you don't know what that is, look it up.
Because Gerald Salenti got burned on that one, you know, pretty badly.
And he's, you know, he was...
Correctly very angered by that situation, especially when Corzine never really got prosecuted for that.
But if you don't have it in your custody, given that so many things are collapsing right now, then you don't really own it.
Now, custody is related to counterparty risk.
Most assets have counterparty risk.
That is, again, if you have a deposit in a bank, the risk is that the counterparty, i.e.
the bank, won't give you the money back.
Or if you own stocks through a brokerage account, same thing.
The risk is that the brokerage might go bankrupt.
Gold and silver have zero counterparty risk as long as you hold them yourself.
And the same thing with crypto.
You realize there's no counterparty risk with crypto?
Because you don't have to trust some other party to make good on their promise to give you your crypto.
Once you have it, once you control it, it's in your wallet, your keys, your password, your seed phrase, it's yours.
You control it.
You have absolute control over it.
There's zero counterparty risk in crypto.
Now, sure, there's price volatility risk.
There's also risk that certain crypto projects may collapse.
There's regulatory risk.
I'm not saying there's no risk.
I'm just saying there's not counterparty risk.
Whereas with banks, you have the risk of bankruptcy, you have the risk of the erosion of the purchasing power of the dollar, and you have counterparty risk on top of that.
And of course, confiscation risk because the government or the IRS or who knows, the reparations committee might decide that they just have the right to take all your money because maybe you're white or you're Asian or something.
Whites and Asians are being targeted now by the radical left, and to some extent even Muslims are being targeted as well.
So counterparty risk is something you have to strongly consider.
Now some people might say that land and real estate have no counterparty risk, and it's sort of correct, so I do want to talk about that.
This is why I've also said over the years that gold and silver and land Land is a good place to put assets if it's in a county where you're confident that the property taxes are going to stay low enough that they won't come confiscate your land and force a sale of it in order to pay the taxes.
In other words, land, although again it is a store of value, you never really own it because you have to keep paying rent in terms of property taxes, right?
Try stop paying property taxes for five years and see what happens.
So they're just going to come take it.
So you don't really have possession of land.
You don't really have possession of a home or a commercial building or frankly anything like that because the county will come along and eventually they will seize it and they will force a sale and they will use that money to pay themselves.
And this has been supported by the courts, you know, thousands of times, thousands of precedents.
So you probably can't do anything about it.
Now, I've heard some people talking about land patents, and I think that's a very intriguing concept.
And apparently, if you have a land patent, then what I'm hearing, although I've not tried this myself, some people are saying they no longer have to pay property taxes and the county can't come take it.
I don't know.
I would love to hear some cases of land patents where that has been successfully proven in the courts.
So if you know of anybody, let us know.
You can email us at situationupdate at protonmail.com if you've got a tip on that.
In the meantime, I would advise you maybe not try that until we get more information on that.
But that also means you're going to have to keep paying rent to the county.
So you don't really own the real estate.
But with gold and silver, when you have gold and silver or crypto in your possession, let me ask you this.
Do you have to keep paying rent on it to anyone?
No.
The answer is no.
And with gold and silver, again, in your possession, not only are you not paying rent on it, but depending on how you acquired it, Since gold and silver are not trackable, in essence, I mean, maybe your purchase of it is trackable, but maybe you purchased it from friends, or you inherited some, or maybe you purchased it 20 years ago, you're still sitting on some.
I mean, I've done that.
I bought some in the 1990s at like $300 an ounce or less, still sitting on that same gold, you know?
Does anybody know that I have that gold, other than all of you who I just told?
No.
No.
Nobody knows because those records are long gone.
You know, 20 plus years ago, nobody's got any clue that I have that gold.
So that's valuable.
Having assets that no one knows you have, especially not the government.
Now, by the way, if I were to sell that gold today and sell it for, let's say, $2,000 an ounce or whatever the current price is, You do realize the government would claim that that's a gain, that I've gained from $300 an ounce to $2,000 an ounce, and I would have to pay taxes on $1,700 per ounce if I did that.
Which is actually stupid because the gold has only really held its value.
The gold has not increased in value.
The gold still buys the same thing that it bought then, ounce per ounce or gram per gram.
It's the inflation of the dollar that creates the appearance of a gain that the IRS wants to tax you on.
Same thing with housing, right?
If you bought a house at, let's say, $300,000, whatever, many years ago, and now you're selling it for a million dollars, the IRS claims you made a $700,000 gain on that house, when actually, you may not have gained anything in terms of the purchasing power of the dollar.
But that's how inflation allows tax authorities to confiscate more money from people, even when there's no real gain.
It's only an inflationary gain denominated in the currency that's losing value because of all the money printing.
So really, the more money they print, the more they cause inflation, and the more they can confiscate tax money from all of you for the things that you sell.
Real estate, gold, silver, what have you.
Now, on crypto, Does anybody know that you have the crypto?
Critical question.
I want to point out that, of course, I have a new show that talks about this in great detail.
It's called Decentralize.tv.
That's the website.
Check it out.
Decentralize.tv.
And if you go there, you'll see new episodes posted now coming up twice a week, and these are amazing interviews.
I mean, I dare say, some of the best interviews I've ever done through my entire career.
And what's coming up, we've actually filmed seven episodes, and we've only posted two, so the five episodes yet to come are just mind-blowing.
Wait till you see them.
But when it comes to crypto...
There are really two categories of crypto.
There's the transparent blockchains where everybody can see everything.
They know how much you have in your wallet.
They know how much you bought, how much you sold, how you spent it, where you sent it, who sent it to you, all that.
Well, that's Bitcoin.
That's Litecoin.
That's most blockchains.
Almost all of them are that way, fully transparent, so they have zero privacy.
Which means, yes, the government knows exactly what you have in your Bitcoin wallet.
Especially if you bought it through a KYC exchange and your social security number is basically stamped all over it.
But then there's privacy coins.
Privacy coins, that's what I'm an advocate of.
That's what we talk about on the show.
Those are the projects that we're interviewing people about privacy coins.
Privacy coins...
Cannot be seen by anyone.
Not by the IRS, the government, the CIA, your ex-wife, whatever.
I mean, they can't be seen by, or your ex-husband.
They can't be seen by anyone.
Privacy coins include Monero, for example, and Epic Cash and Firo and some others.
And we're interviewing pretty much everybody in the privacy coin space that has a viable project, by the way.
Privacy coins are the way to store digital assets that not only can't be found, they can't be located, they can't be surveilled, they also can't be taken from you.
Because there's nothing physical to take.
So where gold and silver could be physically taken if they try hard enough, although they would have to really try hard for most of us, right?
They'd have to be able to dodge bullets and bring a shovel and know where to dig or whatever.
Or, you know, break open the concrete and try to find the gold inside the concrete wall or whatever you've done, you know?
That's a difficult task.
But most people don't go to those lengths to store it.
Most people actually put the gold in the master bedroom closet, which is exactly where thieves go.
And some people have a safe installed in their master bedroom closet.
And that's where thieves go and they break the safe in two minutes and they take the gold, okay?
So most people don't really put their gold in a safe place.
So it's easy for thieves or whoever to come confiscate and take that gold.
Well, they can't take your privacy crypto because it's protected by a seed phrase, which could be like a 10-word sequence of words or 12 words or up to 24 words, 25 words.
Depends on the wallet, depends on the coin.
But that seed phrase is actually your key to claim ownership over the wallet.
You could, quite literally, you could acquire a bunch of digital private crypto and You could have it, quote, in your wallet.
You could just write down your seed phrase.
You could delete the wallet.
You could trash the computer, set it on fire, whatever, you know.
And your money is actually still safe because it's stored on the blockchain and your seed phrase gives you access to it.
And at any future date, you can go to some other computer, install the wallet, Enter your seed phrase and within a few minutes it will restore the full value of all your digital assets there, all the privacy crypto.
It's back!
So no one can take that from you.
No one can come confiscate knowledge out of your mind.
No one even knows you have it because they can't see it.
They can't scan it.
You can be walking through an airport, a security checkpoint, the TSA feeling your nutsack, and you can have a million dollars in your head in terms of a seed phrase of your privacy crypto.
And as the TSA pervert is running his stinky pinky up your ass crack, you can be walking through there with millions of dollars that nobody knows about.
Sorry to get so graphic about the TSA. They deserve a little...
A little bit of insult, although I will say that the few times I've traveled through the airports, the TSA, they have not, in my memory, sexually molested me.
But they did ask me why I had traces of explosives on my bag when they ran it through that machine.
And I said, because I have a private gun range and I've been shooting with lots of bullets and gunpowder.
And they said, oh, okay, you're free to go.
So it made me wonder what's the value of that machine.
If anybody can just say, yeah, I was shooting my guns.
And they're like, you're free to go.
Okay.
Anyway, true story.
Crazy.
And I was shooting at the gun range, right?
Well, actually, at my own range, at my own ranch, I was blasting away and loading bullets and whatever.
So there's traces of gunpowder all over my hands, whatever.
And their machine picked it up, and they're like, well, are you a terrorist?
No.
Okay, you're free to go.
So it's a joke, right?
It's total theater.
The TSA is a theater.
Anyway, back to the point at hand.
You can walk through the airport with millions of dollars in your head.
Now, I remember years ago, I think it was an American who was busted in the airport in Quito, Ecuador, because he had like, I don't know what it was, 100 pounds of gold bars in his suitcase.
And I don't know if you know this, but every time you arrive in Quito, They x-ray all your bags.
They do.
You're required to have all your bags x-rayed.
And, of course, gold shows up on the x-rays because it's dense.
That's why it's heavy.
So they're like, gold bars, a bag full of gold bars.
It was like a million dollars, maybe more.
I forgot the amount.
I don't remember the weight or the amount.
It was a boatload of gold bars.
And all of us who saw that story were like, my God, this guy's an idiot.
You didn't know your bag is going to get x-rayed in Quito?
I mean, what, have you never been there before?
I mean, you should check things out before you go dragging a million dollars worth of gold around.
He could have done that in Monero, in his head, without using his luggage.
He could have walked right through there with a million dollars of Monero.
Or any other privacy coin.
And that's the advantage of digital private crypto over gold.
And just to be clear, I'm very much an advocate of gold.
It's going to outlast the rise and fall of civilization and the end of the power grid or whatever happens.
In the apocalypse, gold is still there.
And crypto, maybe not.
If everything collapses, the crypto won't function.
Barring that scenario, crypto is way more convenient compared to gold.
Alright, so those are some things to think about.
Be sure to catch my new show, Decentralized.tv.
Thank you for listening.
Mike Adams here, the Health Ranger, and the founder of Brighteon.com.
Take care.
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