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May 21, 2024 - Health Ranger - Mike Adams
01:01:45
David Morgan, the Silver Guru, warns that America’s dollar currency is collapsing...
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Welcome to today's interview on Brighteon.com.
I'm Mike Adams, not in the studio today, but we have an emergency issue here with geopolitical events.
The death of the president and foreign minister of Iran and other high-level officials.
Gold and silver spiking like crazy.
Over the weekend, not just a spike, but a breakout.
This is a sea change, I believe, in what we're going to see for precious metals.
Even platinum is moving as well.
And joining me today on an emergency basis, and I really want to say how grateful I am to him, is the silver guru, David Morgan.
Welcome, David.
Thank you for taking the time to join me today.
Mike, it's always a pleasure.
Thanks for having me.
We really appreciate you, David.
And you've been, of course, predicting this for many years.
What are your initial impressions about what's been happening in the last few days with silver prices in particular, as I think last night they were over $32.50 or something close to that?
What are your thoughts?
Well, my thoughts are, as you said, it's most likely a breakout, not a fakeout.
To hit the Morgan rule, we need three days in a row on above average volume to get above that level.
And I think we're going to get to it tomorrow.
But it's surprising almost everyone.
And if you let me elaborate, I mean, first of all, I predicted this year that we'd see $2,500 gold and $30 silver.
I didn't expect to see $30 silver until the third quarter of this year.
And obviously, we're hitting it in the first half of the year.
And the thing about a silver market is even for someone like myself that's been at a long, long time, it can surprise even me.
And this move of Friday being up $2 on the spot market, that's pretty phenomenal.
Silver's at an 11-year high in terms of U.S. dollars.
Now, it's made new highs in terms of other currencies, but everybody thinks about it in terms of U.S. dollars, or most of our audience does.
So we're in a position where the retail market, what I'll call the believers, don't believe it.
Most people, there's a lot of people that are selling back in the 30s.
And there are people that just are waiting for that pullback to add to their positions.
And the majority think it's just not happening.
And those are markets that fool everyone.
These are markets that just keep going up.
And people think, oh, well, that pullback.
Okay, it's starting to pull back.
I'll wait, because now I know I'm right.
And it's going to pull back hard.
And as soon as it gets back to pick a number 30, I'm going to buy again.
And then it goes up the next day.
So...
It's very satisfying in that sense.
And the other part, which I've said many, many times, but it bears repeating, it's just like being a Super Bowl football team.
The best ones practice the fundamentals every day.
And the fundamentals of a bowl market is that bowl is going to try and shake you off any chance it can.
You're going to pick that high.
It's going to shoot up $2 again.
Oh, it can't go beyond that.
I'm selling out.
And you're going to sell it at $3,450.
And it's going to drop all the way down to $32.
And you're going to feel like a genius and tell everybody you've sold it to high.
And then, you know, a week and a half later, it's back with the same price and moves up more.
So you really want to be careful in a bull market.
The best strategy really is to buy and hold and buy the dips.
And wait.
And I've been very lucky, fortunate, half and half, to call every top on the way up so far.
Now, whether I get this, what I think will be the last one, which is probably two or three years out, I don't know.
In fact, I'll say I really doubt I'll be able to do it again.
So I'll sell into, like the professionals do, and that is Try to get within 20% of the top and sell in tranches.
You sell it in the strength and you sell it X and then it goes up more and you sell a little more and sell a little more.
That's the best approach.
That way you don't pick one decision.
Okay, but let me jump in here because our audience, for the most part, they're not professional precious metals traders.
And they're really, at this point, they're never looking to sell.
They're looking to simply accumulate in the most cost-effective manner possible.
That's it.
It's stacking and accumulation.
What would their strategy be in your view of what signals to look for in terms of buying silver as this market continues to move up?
Yeah, it's really simple.
I'm glad you asked that.
I was going to actually mention that, but I gave myself a break.
Anyway.
The best method is to dollar cost average.
And the best way to dollar cost average is to just buy on the same day every month.
So just set up to the 15th of the month.
I buy $100 worth of silver.
I buy $200 worth of silver.
Whatever it is.
If you want to be a little bit cute, it's the third Thursday of every month is options expiration.
Of course, it falls on a different date every month.
But you could, you know, check out the calendar and look at the third Thursday.
You know, third Thursday and pick a number like the 20th or something like that.
And you're pretty close to options expiration.
I've never actually run a back test on it, Mike, but I would guess you're doing a little bit better that way because the options traders, they use what's called delta hedging, and that's way beyond this conversation.
But because of that, you almost always get a push down on the price around options expiration.
So if you timed it like that, You might average in a little bit better, kind of like buying the dip automatically, but it's just an idea.
Like I said, I've never back-tested it.
Okay.
All right.
Fair enough.
And let me plug your website, too, for those who want to connect with you and get more information.
It's themorganreport.com.
Is that the best site to mention?
That's the best site.
Absolutely.
Okay.
Themorganreport.com.
Now, I was having a conversation even last night with a family member who called me and said...
Hey, whoa, you were right.
Silver's really breaking out and gold's breaking out.
And this person already owns some substantial amount, so they were really happy.
But they were asking, like, should I buy now?
And they said something that I want to run past you that maybe our audience is thinking.
They said that, I don't know if I should buy right now because silver looks expensive now because it's $32.
And of course, you and I know expensive compared to what, but how would you help somebody think through that process if they think silver is expensive at $31 or $34 or $30?
Two things.
Number one is any commodity, be it soybean oil or cotton, you want to look at what the price is relative to what the cost of production is.
So in other words, I don't know the price of cotton.
I don't trade cotton.
But whatever it is, if you're buying it for less than it costs to produce it, it's a buy.
So silver actually on aggregate, meaning the whole, you take all the primary silver miners and lump them together Their average price is still around $28,000.
So you're in the silver business almost at the same cost as some of the best silver miners in the world.
So that's the first thing.
You're making a slight profit.
But the other way and the most important way, and this was a hard one to get through to the general public, not with you, Mike.
You've thought it this way for years because I've listened to a lot of your podcasts.
But what is silver relative to the amount of funding money that's been printed over the last 50 years, especially within the last four years?
And the answer is, if you go back to the time when Warren Buffett It bought in like 98, 99.
Silver on an inflation-adjusted basis was the lowest price it's ever been.
And the price was somewhat under $5.
It was for, I don't know the exact price.
I'll call it $4.50 for talking purposes.
Now $4.50 is a lot bigger number than $0.22 that it was during the Great Depression.
You know, you've got to multiply 22 by 20 to get to $4.50.
But yet inflation adjusted, it was lower than it's ever been because 22 cents bought a lot more in 1930 than 450 did in 1998.
I know you follow in all this, Mike, but this will be my argument.
There's been so much money printed, Mike, since the Buffett purchase that on an aggregate basis, inflation adjusted silver is about the same price.
A little higher, but not a lot.
So if you want to look at it on the true cost of how much funding money is.
Yeah, the number 31 is bigger than the number 25.
I urged everybody publicly over and over and over again, and for my private work as well, anytime you can buy silver under 25 this time, meaning this next bull run, you're going to be very, very happy.
And I think the days of $25 silver are over.
I really do.
Yeah, I completely agree.
I don't think we're going to see $25 silver.
But that's the idea.
So is it cheap?
And, you know, right now, I mean, it's 11 years at a nominal price.
I mean, you know, we all, anyone that says the silver market for very long knows that 50 is kind of the cutoff.
It hit it in 2011, almost.
It did hit it in 1980.
And that's a nominal number.
I mean, 50 bucks in 1980 bought you one heck of a lot more.
I mean, the money supply, let me say one more thing.
I did a, Jim Rickards just did an article about $27,000.
And he does it the same way I do, because it's very simple to figure out the paper price of gold.
You take the amount of paper, that's your paper price, divided by the amount of gold, that's the amount of gold the Treasury has, and you get a dollar per ounce.
So you put dollars on the numerator, gold on the denominator, and you divide it.
So if you did that in about 2000, you would have M0, base money, I don't believe in debt, Gold is a physical commodity, just like a piece of paper.
So you take the paper money, divided by the gold, and you come out, and at the time, at 2,000, it was 2,500 pounds.
Today, it's, as Jim Rickards pointed out, he does it with M1, 27,000.
If you do it with base money, it's about 20,000.
So it's gone up, we'll just use round numbers, tenfold.
So $5 silver adjusted for that tenfold increase in base money is $50.
So if you're buying it at $32, what are you doing?
In terms of reality, you're buying it pretty darn cheap.
Again, it's hard to overcome the mental idea that, well, wait a minute, $32 is a bigger number than $25.
And yeah, it is.
But in reality of this...
This matrix that we're in, this make-believe phenomena that's basically suppressed the world in so many ways.
I mean, I'm a believer, and this is my take, and I've written about it and studied about it and lectured about it.
But when you corrupt the money, you corrupt everything top down because we all rely on it.
For our interactions between everybody.
So it starts to corrupt the political system, the financial system, the education system, the health system, the water supply, the food production.
Everything gets corrupted.
For the basis of profit and trying to basically chisel the other guy.
Now, I'm not saying all businesses do that.
But it becomes more and more pervasive throughout the society as the deterioration accelerates.
And we're there.
We're in the last bump that we're going to get before this whole thing realigns.
I won't say reset because I don't know what's going to happen in the future.
But I know that Mother Nature has the...
The upper hand.
And this is an inevitable, unpredictable in time situation that no one's going to get out of.
I like the Ayn Rand quote that you can ignore reality, but you cannot ignore the consequences of ignoring reality.
Yeah, great, great quote.
And I think people are really seeing this now, whereas a few years ago, a lot of what you were talking about, or even what I was saying was just theoretical, like, you know, beware, this is coming.
Now, people get a new bill from their insurance company, and it's a 300% increase.
Auto insurance, boat insurance, health insurance, home insurance, business insurance.
Insurance companies are pulling out because the risk is just too high.
Like in California, hundreds of thousands of policies are being canceled.
And then there's food inflation on top of that.
Cost of living has gone up substantially.
People are seeing the dollar just eroded at a pace that they never could have imagined.
While the White House tells them there's no inflation, yet The purchasing power of the dollars they're sitting on is just deteriorating by the month.
So it's no longer theoretical, is it?
It's not.
No, the run to gold began about two years ago, and I was bold enough to say it, and I think a lot of people understood it, certainly.
I think some people thought, no, that's David Morgan again.
We've heard that guy.
But I said, look, the smart money is going to be the first in.
And the first clue that we're in the final phase is that gold and the dollar will go up together.
And a lot of my peer group will say, oh, no, they're opposites.
Gold goes up when the dollar goes down.
Not at the end.
Because at the end, there's a liquidity squeeze.
People still need dollars.
A lot of people betting on it.
We're betting that they'll get cost of living allowance that will be commensurate with the true inflation rate.
It doesn't happen.
So unless you are the guy owning...
I mean, even if you're a landowner and have a lot of nice rentals and you're one of the best landlords on the planet, I mean, there's restrictions in a lot of areas where you cannot increase the rent beyond a certain level in a certain timeframe.
So in other words, the government controls your private property as far as what you can do with it.
The point being is that inflation in a high inflation and sometimes a hyperinflationary modality does not Bail you out.
It might help you pay off your loan with cheaper dollars, but what if those cheaper dollars still cost you eight hours of labor and you don't get any increase in your costs?
And unfortunately, it hurts almost everyone.
It even hurts the ultra-rich.
Well, what do you mean?
Because things go out of business, like some luxury items, for example, that I don't know.
I'm not a gourmet anything, but a certain chocolate or something that, you know, goes out of business and you can't buy it anymore.
You want to?
Oh, it's my favorite.
Well, goodbye.
They're not making enough profit to stay in business, right?
So it's the worst of all worlds in a way, and it's insidious because it continues again and again and again.
And, you know, you hear the government say, well, it's only up this much this month, and that's down from last month.
Yeah, but all that to that point in time was additive.
Right.
You hear them say things like, oh, inflation is slowing.
And the average American thinks, well, that must mean prices are going down.
No.
It means they're still going up.
Just this month's price increase wasn't as large as last month's price increase.
That's what that means.
But people don't get it.
They don't.
And I'm glad you said it.
I mean, you couldn't say it any better.
And this is what people...
But you know what?
Even if they don't understand it or they think it's going down because the way they frame it, when they go to the grocery store and they see a jar of peanut butter, it's up another...
You know, whatever, 30 cents or 40 cents or whatever, they get it.
Nothing gets into their consciousness more than filling up their automobile or buying groceries or going out to the restaurant.
I mean, a lot of these fast food restaurants are cutting stores all over the place and some are just filing bankruptcy.
Saying, we're done.
And who would think you'd be paying $11 at McDonald's?
I'm not a McDonald's guy, believe me.
But nonetheless, somebody told me, and I believe him, and I think I had crappy meals like $11 or something.
I mean, it's just insane.
And yet, this is the reality.
Yeah, that's crazy.
It's sad, but it's not unexpected.
I mean, you and I have been talking about it for a long time.
And just to back you up, you know, it was kind of theoretical six months or a year ago, and now it's here, and no one can deny it.
So let's talk about the price increase that happened from Friday and over this recent weekend.
To what do you attribute this particular increase?
And let me just say that we've known that a lot of the gold purchases over the last, let's say, eight months or more have been happening from central banks.
Like China, it's said now that in the first quarter of this year that they...
They dumped, essentially, or allowed to expire $53 billion worth of government U.S. Treasury debt.
But they rolled that into gold.
So instead of buying treasuries now, they're buying gold, and that explains a lot of the gold demand, and other countries are doing the same thing.
To what do you attribute this silver demand right now?
Well...
A couple things.
One is, and this is hard to wrap your mind around, even for me, retail is pretty much dead.
A lot of people in retail are selling back because they bought it, you know, 25 or 24, but the The premiums were astronomical, so their true net cost was like 29 or 30.
Now they've broken even and they're tired of silver.
So the wholesalers are actually loaded up with silver and gold right now.
So that doesn't make much sense with these higher prices.
It's pretty much futures-driven and the following.
One is that India has imported so much silver for their new solar farm.
Now, Mike, are you sitting down with your seatbelt on?
Yeah.
This solar farm is going to be five times larger than the city of Paris.
Whoa.
Think of how much silver that's going to use.
Yes.
So that's one of them.
The other one is...
The intricacies of the market.
So when these people sell back to the wholesalers, the wholesalers buy it back, usually at spots, sometimes under spot.
But when you're talking in the realm that they deal in, and they have a credit line of, let's make up a big number, 100 million, okay?
And they're buying back 25 million here and 10 million there and 5 million there.
They've got a carrying cost.
It's called interest.
And what's the interest payment these days?
Well, 5% on an annual basis.
So now they've got inventory that's costing them to hold, and the market's flat or very, very weak.
So they're not turning it around and selling it back in the retail market.
So they're hedged, so they're not losing on the price going down.
But the market's going up and up and up.
And now they're paying 5%.
They've got all this silver that they had to borrow on their credit line, which is a normal way they do business.
So what do they do?
Well, they buy back their short.
They get rid of it.
They say, the heck with this.
I'm done.
So I think, and it's a pretty studied view.
You know I know the market.
I think that's what's probably taking place last Friday.
Some of these guys said, I can't take the pain anymore.
Interest to do the math.
Okay, I'm going to take this loss, but I know my loss.
If I hold it further and silver goes to, you know, 33, we're even in worse shape.
Let's just bite the bullet, get the heck out.
We're still in business.
We've been there before.
We got a really bad quarter and we're moving on.
I really think that was part of it.
Wow.
Okay.
So that leads me then to a related question.
Isn't most silver ore processed in China?
Yeah, a lot of ore gets shipped into India and China, and yeah, that's just a fact.
I mean, they don't have the EPA type of regulations we have here, and it's just cheaper.
I mean, I know a lot of the South American mines go to India or China.
I'm not sure how many U.S. mines do.
I mean, we still have smelters here, but not many.
But no, China does a lot, yeah.
Okay, so if China is looking to really accumulate more precious metals...
Then, wouldn't it make sense for them to just buy a lot of ore, process it, and in essence, keep it?
Or, you know, to sell it?
Yeah, well, the way the smelting industry works, regardless of jurisdiction, is they get paid in metals.
They don't want fiat.
I mean, there are some that probably take it.
So normally, when I process...
You know, 10 tons of ore.
And depending on how clean it is and the energy used, the smelter nets say 2%.
They take it in metal.
So then they sell it into the market.
Usually they don't keep it on the shelf or whatever.
But in China's case, of course they keep it on the shelf.
So, yeah, it's a way to accumulate.
Remember, China, every ounce of gold that's mined in China stays in China.
And all the smelting they do in China stays in China.
In other words, what their yield is, or 2% or 3%, whatever it happens to be.
And then on top of that, they buy all the time.
So, you know, I put one of my jokes up on my Twitter today, and it shows, you know, like a volleyball net.
It shows America throwing dollar bundles at China.
Excuse me, gold bars at China.
And China throwing bundles of dollars back at China.
Right.
But that seems like a really smart play on China's part, right, to just keep stacking metal and get out of treasuries.
But, you know, I was just doing some rough math on that.
If China continues to dump, let's say, $50 billion worth of U.S. treasuries every quarter, it seems like it's only three years away or something close to that before China holds no U.S. treasuries.
Yeah, I think that's the goal.
Yeah.
I mean, I know anybody that accumulates or distributes.
I mean, the way the markets work, some people don't know.
But the way you buy is you call it accumulation if you're in size.
I mean, I'm not talking a retail investor with an E-Trade account.
I'm talking, you know, a Wall Street house, a huge hedge fund, that type of thing.
So you accumulate because the reason is if you buy...
You know, this amount of stock, it won't tell you to drive the price to the roof.
But if you buy a little bit, and a little bit more, and a little bit more, and a little bit more, you don't move the market.
And it's the same way when you sell.
You don't want to sell it all at once, so you put the price to the floor.
So you have to sell off a little bit, a little bit, a little bit.
The best marketers I know, I shouldn't say that, the best marketers The best traders I've ever met are Chinese.
And I say that without prejudice.
I was born in San Francisco.
And they, in Chinatown, they got their act together when it comes to buying.
And that's how they've done it.
They've never bought such a huge amount that really moved the market.
And they just keep accumulating.
I don't think they ever bought this.
I think that there's going to be a day where the BRICS aren't necessarily gold tied, but their new currency is going to be thought of as being And it won't be where you can convert it, but they've got the most gold and the most stability in the market.
Okay, really good point there, what you just mentioned.
Let me bring in what Russian President Putin recently said after meeting with Xi in China.
He announced that the two countries now have 90% of their trade between each other is carried out using their own national currencies.
So only 10% is the dollar or something else.
And it seems to me like this is an interim solution until they get to a BRICS currency, in which case I would guess maybe 99% of their trades would be either in BRICS or national currencies.
But what were your thoughts?
I'm sure you saw that news, but when they say 90% of our trade is now in the ruble and the yuan, what does that make you?
What comes to your mind?
Well, I'm going to have to.
I'm going to answer, and I'm very happy you asked the question.
I would have probably had a different answer had I not listened to an interview with Jim Rickards this morning.
And, in fact, I wrote him a letter, an email thanking him for his insights.
And he actually got it from someone else and gave the guy credit.
I can't go second generation.
But here it goes.
He says, you know, it works okay to go, you know, rupees to yuan.
But really, you know, it's almost a barter.
You know, I've got all this yuan, but I can just spend yuan.
So how much stuff in China do I really want?
But when you have a currency like the U.S. dollar, it's good anywhere in the world for anything.
That's quote unquote money.
And so what he was saying is, you know, you can only trade for so many rupees, but when it becomes the BRICS currency, now it's good for the, you know, what is it, six BRICS plus all the ones that are coming in, like Saudi Arabia.
And now you've got a huge marketplace where they all accept the single currency.
And that makes it very valuable because you can buy from anybody for anything you want.
So you're no longer like in a, you know, a currency like the rupee and you got to buy something from India because that's what's on your balance sheet.
You've got a BRICS that's accepted in Argentina.
So you make a trade with India for rupee, turn it into the BRICS currency.
Now you can spend it in Argentina, Saudi Arabia, China, South Africa.
You name it.
And this is very very powerful.
And then he went on to say that You would see that the dollar will stay in place because it's really to the advantage of the BRICS to see the dollar remain because the dollar is going to go down relative to gold.
And the U.S. is probably so unaware for a while that they see what's happening and it's losing value against the BRICS because it's really against gold.
And so the U.S. buys gold, which weakens the balance sheet because it's telling the world that, uh-oh, dollars aren't worth much.
We better buy some gold.
So it got to be very interesting.
I would definitely recommend that our listeners find the latest Jim Rickard's interview.
I don't know if there's a title to it or not, but...
Okay, well, let me ask.
Maybe I'm missing this, but what's the key insight that Rickards stated beyond the obvious?
Because I thought it's obvious to everybody that, of course, BRICS currency is going to be a universal settlement currency among all the participants.
Is there something I missed?
No, you didn't miss anything.
You just asked a really good question.
The key insight was forget CBDCs.
Oh, okay, okay.
And I'm not sure I agree with them.
I'd have to think about it a little more than I already have.
But it certainly did make sense that when this comes out, and if it comes out, look, I mean, this is, you know, kind of theoretical still at this point.
But the idea being that, you know, forget your CBDC. And if you think about it, who in their right mind would go to a CBDC anyway?
If you've got fiat that's failed, then you're going to put up with an electronic failure to supersede it.
Who's going to jump on that?
Right.
Yeah, give me the digital version of getting screwed by my government and bank.
Yeah.
Exactly.
Well, do you suppose that Could American companies at some point, any idea whether they could participate in a BRICS system?
Like, suppose if I wanted to buy, you know, herb exports or agricultural exports from India, and India is in the BRICS system, do you suppose that American companies would be able to do that, or do you think the U.S. government will come in and say that that's illegal to trade in BRICS currencies?
Well, it's a great question, and I think it will happen.
And I think your little Amazon credits, which I don't have, I buy from Amazon still.
Sorry, folks.
I'm just too lazy to go other places.
But you can get, you know, you can get these pseudo tokens from Amazon.
You know, Amazon and other places.
And I think that they will, at some point, be able to be exchanged at some ratio for BRICS. And then if you get in the battle where the government says you can't, then you get, you know, the sharp lawyers on both sides and say, wait a minute, we're private enterprise.
And we were dealing with China under NAFTA. And you put up these rules about, you know, China being in the whatever it was.
I forget the term.
It might help me out.
But It was like a free trade thing, so China didn't have to obey the EPA stuff because they were an up-and-comer.
I forget the term.
There was a term for it.
So basically, you use the law against the U.S. Not that it's against, it's just the law.
Okay, well, here's the law.
We're obeying the law.
You can't change it now because they have a free trade zone or whatever.
I forget the term.
And we're allowed to do that, you know, to help China out, blah, blah, blah, blah.
So it would be a very interesting case.
Now, not to say that, you know, they use the big club and say, well, wait a minute.
It's a national security issue and you lose.
But it wouldn't surprise me at all that you see it happen.
And we're entering a brave new world.
And where this next monetary system is, How and where it takes place is just, it's a mind boggler because it's something I've looked at my whole life.
And of course, you know what I want.
I want integrity, honesty, sincerity, and an equal playing field for everybody on the planet.
And I want these banksters to leave us alone and let us have a free market.
But just because that's what I want certainly doesn't mean that's what we'll get.
But we may be getting closer to that than I had thought maybe, you know, three, four months ago where I was pretty much convincing myself that some type of CBDC was going, was almost inevitable.
And then if we could jump ahead to, you know, Cuba, basically all the banks fail and the ATMs got run on instantly.
And now they're an island, so it's a perfect experiment for the Weffers to put in a UBI. We're so sorry you can't get any of your money out of our bank.
So now we're going to give you a UBI. So I may have jumped ahead too fast, but it's a battle going on, Mike.
I mean, it's like, who's going to win this thing?
And you've got the BRICS coming up.
You've got the Weffers playing with Cuba.
You've got people saying, this inflation's out of hand.
What do I do?
You've got the gold and silver markets moving like they have in a long time.
It's accelerating.
I'm real glad you actually went in this direction.
Two things on this.
We are seeing more arguments from national leaders.
I think this was out of Europe a couple days ago that someone suggested that because of the rise of AI systems replacing human workers, therefore we need to introduce a UBI. So AI is being used as the excuse.
And then over the weekend, I saw an interview where Ed Dowd was reaffirming the fact that the Western governments need crisis after crisis after crisis to have excuses to inject liquidity directly into the zombie economy. I saw an interview where Ed Dowd was reaffirming the For example, COVID, and they could just hand out billions of dollars to companies and individuals and here go spend on this debit card, essentially, government issued credit cards.
And that they need another COVID or they need another war or Ed Dowd even said maybe they'll fake little green men or something.
They just need a bigger emergency to just jam more money into the system.
So that puts us in a very precarious situation, doesn't it?
Oh, absolutely.
And it's undecided.
It really is.
I mean, these elitists probably have their plan, but that doesn't mean they can implement it across the board.
Right.
People, we all have like a survival instinct.
And we also, in my opinion, have a financial survival instinct.
That's why the black market always exists.
No matter what the penalties are, you always get what's called a black market, which is usually really a free market, where people interact and don't hurt each other and get what they want.
Look, I've got some of the last remaining super chocolate I referred to earlier, and you want it so bad.
I'll tell you what, I'm charging you X amount of gold for it because I want the gold and you want the chocolate.
Deal?
Deal.
But of course, it's illegal.
You can't do that.
That chocolate's outlawed, whatever.
But that's why it always exists, because people crave not only freedom, but freedom of expression.
And one freedom of expression is to be able to buy what the heck you want.
Yeah, yeah, absolutely.
And well, then that brings me to my crypto question here.
So you talked earlier about BRICS and even like Amazon tokens or gift cards.
What if there's a situation where there's liquidity between crypto and Bitcoin being, you know, accepted with ETFs now?
Bitcoin going, in essence, mainstream or institutional.
What if there's liquidity between Bitcoin and BRICS? As a business owner myself, I would love to spend Bitcoin, get BRICS tokens, and use BRICS tokens to buy raw materials from countries all over the world.
I mean, or just spend fiat.
Yeah, I think that's the big picture.
I think that the crypto world is here to stay.
There's still a lot of them that will basically go away, just like the dot-com bubble.
But a lot of them are viable.
And I think the overall big, big picture is they'll be what I'll call a Web 3 clearinghouse.
Yeah.
And that means that they'll accept darn near anything.
I mean, the only time I went in my world travel is often, I don't know if it's bragging, but it's a fact.
And every time, you know, I've gone to wherever, China or Europe or whatever, you know, I get to the international airport and I turn my euros back into USD or whatever.
The only time I left a country I couldn't exchange for anything was Mongolia.
Right.
When I left Mongolia and had whatever they called their notes, I forget.
No bank will take those babies.
But it would be the same thing, I think, with a universal exchange that might be run by an eye, for crying out loud.
You typed in your wallet address with whatever, Amazon, Bitcoin, Ethereum, your gold account, your whatever.
And exchange it for, you name it, the BRICS currency, the USD, precious metal, a certain crypto, a gift card, air miles.
I mean, I think that's what's going to happen.
Well, David, it seems to me like we're actually – this is an amazing red pill moment for humanity because I think we're moving into an era where the preferred currencies to be used by people and businesses and even governments around the world will be currencies that cannot be artificially created, counterfeited by it seems to me like we're actually – this is an amazing red pill moment
So is it possible that this whole era of what we've lived in our whole lives, the Federal Reserve printing money, the U.S. weaponizing the dollar, using its dollar hegemony globally as a bludgeon against other countries, effectively looting using its dollar hegemony globally as a bludgeon against other countries, effectively looting purchasing power stealing from the workers.
Is it possible that that era is coming to an end?
Well, that's my life's work and life's dream, and it is possible.
You bet.
It may not be exactly the way, you know, I've never had the, here's the natural plan, it must be like this.
I'm way too open-minded for that or for me to even think I know that much.
But I certainly know what integrity is, I know what fairness is, and I know what an equitable system looks like.
And you've outlined, and I think it is possible.
In fact, I was thinking about this just over the weekend, that one of the hardest things to do in the market is to call a top.
Because when you're at the top, there's so much momentum that got you there.
Everybody believes that the real estate market only goes up or that the stock market always grows.
If you hold long-term, it's only going to make you money.
And these tops are very difficult because the consciousness is so entrenched with the trend that's been around for a long time, usually.
That it's hard to see it's peaked and it's coming the other way.
And I was thinking about it this weekend, you know, this weffer system, this one you just outlined so well, maybe it's top, maybe.
And, you know, one of the best precursors to indicate that that's the way it really is, is the gold market.
The gold market is a barometer.
It's not a thermometer.
The gold market says storm ahead.
It doesn't say storm a week from Tuesday.
And the way the gold market's moving, as we outlined earlier, silver backing it up now, confirming it.
Is saying, you know, there's a storm ahead, a storm in a good way for us, but I feel sorry for the people that never got the message.
But honestly, you know, you and I and Alex and all these people out there in what I call the freedom, patriot, honest money, whatever term you want to use, I don't care.
People that have told the others about what happens in a corrupt debt-based monetary system Well, even the...
Well, Trump is now saying that if he is, you know, reelected for a third time, technically, back into the White House, that he's going to put massive new sanctions on China.
Now, Biden just laid out all kinds of new tariffs on China, a hundred percent tariff on electric vehicles, for example.
But Trump is going to do that even more and Trump says he's going to use the dollar to sanction even more countries around the world.
And when I heard that, I'm thinking, wow, Trump is living in the 1980s.
I think this era of just weaponizing the dollar with sanctions, I don't think the rest of the world cares.
I mean, they're just going to use bricks.
I agree.
I mean, it's very short-sighted and, you know, it shows his inability to understand how a real free world, free market works.
And that is the market to determine the price.
And the worst thing that ever happened, in my opinion, in modern times in the monetary system, is to do what you've already said three or four times, and that is for you not...
United States to weaponize the dollar and tell Russia that that $300 billion you have doesn't work anymore.
Right.
I mean, what could be more stupid than that?
I mean, money is, the way we define it now, is still Sankerson.
Regardless of your dispute with your neighbor, if you owe money, you have to make good on that.
And now, when that happened, what does India think?
What does China think?
What does Brazil think?
What are they going to do to us if we do something that's politically upsetting the United States?
Are they going to cut off our U.S. reserves?
I mean, it's the stupidest thing that they've ever done.
And so now you're seeing a counterforce to that, you might say, and that's this BRICS currency, which has been talked and talked and talked and talked about.
But now it looks like it's coming on board.
And where that's going to end up, we're talking about.
We don't know, but it certainly could Usurp the dollar at some point, and the dollar becomes worth even less than it is now, and kind of a subset, and then near the end, the dollar may remain for a lot longer than I suspected a few years back, but nonetheless, it becomes the Mongolian currency.
Let's talk about state-level currencies now, because this is where silver and gold, I think, really enter the picture, having physical metals.
So I recently interviewed a Russian author of The Five Stages of Collapse.
It's Dmitry Orlov.
I don't know if you're familiar with any of his.
Oh, yeah.
You bet I am.
Okay, great.
Very smart man.
Really insightful.
Lived in the U.S. for many years.
We've had correspondence.
Not much lately.
Go ahead.
Okay, great.
Oh, as a side note, He gave me permission, just as you gave me permission, to use your material for training our AI system, so I want to thank you for that.
We've already downloaded all your videos, and they've all been transcribed, and we're processing your transcriptions, by the way.
So if you want all your transcriptions, for whatever reason, I can send you a zip file.
But we even have an AI system that cleans up the spoken word, by the way.
So if you want, like...
AI edited, cleaned up, spoken transcriptions of all your videos.
I've got that.
Wow.
Yeah, I'll take it.
You bet.
Okay.
All right.
Yeah, I'll send you a link.
But anyway, Dmitry Orlov also gave us permission to use all his books.
So we're going to be coming out with an AI model at brighttown.ai, free, non-commercial, no charge, that will have expertise in assets and precious metals and economics and so on.
That's coming out this year, and your material will be used to influence the model substantially.
But with that said, at the state level, one of the things that Dmitry Orlov predicted, because he studied, of course, the collapse of the Soviet Union in 91, what happened there economically, the breakup, he says that the United States of America will suffer a default.
On its debt and the dollar, treasuries won't be purchased by anybody except ourselves at some point.
You know, the Fed will print money to buy more treasuries, which I think is already happening.
But that states are then going to be Once again, the non-United States and each state is going to have to come up with a currency solution.
And it occurred to me, and this is what I want to run past you, that anybody who holds gold and silver at that time is probably going to be able to physically trade in gold and silver to your state in exchange for very generous amounts of the new state currency because the states will be desperate to back the currency with metals.
What do you think about that?
Well, I think it's quite viable.
And it's really what's interesting about all these states that are basically reaffirming the Constitution.
I mean, in a way, I guess slightly irked because we really don't need it because it's already, as Ron Paul would say, on the books.
Because in the Constitution, no state can take anything but gold and silver or payment of a debt.
And I always joked about this to people in the know, such as yourself, to call up the tax assessor for my community here and plead this.
Oh, Mr.
Assessor, I... I'm very, very upset.
I think I've frauded you.
I have paid my property tax with this script put out by a private banking cartel.
I didn't pay you in gold and silver.
Am I going to go to jail?
Now, I think you probably caught that.
Most people go over their heads, but basically, I have a debt that the county wants me to pay for property taxes, and by law, I'm supposed to pay it in gold or silver, but of course, they take federal reserve notes.
If you try to pay it in gold or silver, I don't know what the heck you're talking about.
But the point is to reaffirm it's not anything wrong, and it revivifies and strengthens the fact that you can use gold and silver for any transaction as long as both parties agree.
Utah was one of the first to do it.
I was there when the government signed it.
And yeah, I think you're exactly right that this is where we're going to go.
I think you're going to go back to states' rights.
And you're going to see that implemented.
And it'll be a lot easier to have a depository like Texas proposed, put your gold and silver in there, and then digitize it, probably on a debit card, but it could be in a currency as well, or both.
And away you go.
And it only takes one.
You know, I hate to use the analogy of the NFL or the NBA, but it's a good analogy.
They're a copycat lease.
If something works and works really well, then a bunch of other teams will do the same thing.
But it's always that first innovator that has to take place.
And honestly, Mike, I thought it was going to be Texas, because even Utah has got a system that works fairly well.
But no one's really done it, in my estimation, the simplest way, which is deposit it.
It's private property.
You get a statement, and now it's digitized.
You put it on a debit card, and away you go.
Well, I am aware of several projects in Texas that are not well known that are working on this, and also lawmakers in Texas behind the scenes are actively getting ready for the collapse of the dollar.
So I would imagine a similar thing is happening in places like Florida and California.
Idaho.
They're all over.
In fact, I need to do a podcast with one of the authorities.
It's not Citizens for Sound Money.
It's a group like that.
And I know the originator.
And it's been on my back burner.
I've got to just make the time and do an interview because he's got all the details.
I don't.
I've got the big picture.
But he can tell you state by state which states are that far advanced and which states just took away the sales tax on the metals.
But he knows it, again...
To the nth degree, and I don't.
And I need to make a podcast so we can get that out for everybody's benefit.
Yeah, we do.
And I hope you don't mind me keeping you, but just a follow-up question then, because part of my show, Decentralized TV, we interviewed one of the founders of Load, Load One, which is, you know, they've developed this really advanced technology, as you know,
to tokenize and digitize physical deposits of silver and gold and to make it Universally mobile in a Web3 format, something way beyond normal cryptocurrency.
But isn't it possible that maybe a state would even license their technology at some point or want to do something or bring them in as consultants and say, hey, how did you build this?
I think that, as you were saying about all the people you know in Texas, I think it'll come from the free market.
It'll come from a private company organization and that the state will implement it.
I really believe that.
I was going to say that before you mentioned what you did.
That's usually how things work.
Usually, you know, once you get a committee agreement, Usually you don't have the innovator, that guy that gets the idea, you know, like Jobs with Apple, you know.
I mean, Jobs didn't know how to build an iPhone, for crying out loud, but he had the vision, and he knew how to hire the right people, and he knew what he wanted.
He was very specific about what it could do.
And at the beginning, it really didn't do that much.
I mean, it made a phone call and could put music on and stuff, but now look what it can do.
So I think that's a good metaphor for what we're going to see.
I think it'll be something that's already implemented, and then somebody either licenses it or adopts it or buys it out, maybe.
I don't know.
But I think you're on the right track.
Yeah, because it seems to me that the right combination here for the future, you know, Money, the utility of money, requires digital applications, right?
So we can transfer it globally instantly or near instantly within a few minutes, let's say, if there's a blockchain involved.
But it needs to be backed by physical.
So there's this hybrid approach, you know, because it's hard to physically send silver to somebody in another country, let's say.
But digitizing it is very tricky.
And there aren't that many organizations that have done a good job with that load being one of them.
And I think even they didn't realize how difficult it was going to be when they first started doing it.
But launching something like Bitcoin is easy these days.
It wasn't easy when it first happened.
But today, no brainer.
Launching something that is backed by physical and audited with physical, where the coins and tokens can only be minted when a certain number of grams of physical metal are brought in and audited and confirmed in a vault, that's a totally different story.
That's difficult.
It is.
I mean, the difference between load and some of these others is we have a true monetary system based on precious metal.
The other ones are ledger entries that go back to fiat.
Really, in those systems, mostly you can get out of more fiat.
Some you can't exchange, but when you exchange, you're basically making a coin dealer transaction where your fiat gets converted to a coin and then the coin gets mailed to you.
Right.
Whereas the load system is basically what I keep mentioning is like a warehouse with a receipt and you have the receipt to do exchange for your metal back to you or to be able to use it in the system.
And you're right.
I mean, there's so many advantages to having it in a digital form is one, you know, theft, cumbersomeness.
I mean, you know, silver's, I mean, as one of my compadres says, Silver is so cheap, you get too much for your money.
That's funny.
Yeah.
It's like, you know, put $400 in silver in your pocket.
I mean, if you had that much silver in the Old West, you'd own half the town.
That's true.
Well, let me mention the website for those who are wondering what we're talking about.
Load.
It's L-O-D-E. And I think you can go to loadwallet.com.
Is that the right site?
Well, there may be.
It's load.one is one of the sites.
Right.
Load.one.
And there's a load pay, but I'm not sure of the address.
Okay.
Alright, that's worth checking out.
Frankly, I would have been experimenting with Lode a lot more, but I got totally distracted by this AI project for the last six months.
But Lode is on my list to really dig into, especially with what's happening internationally.
But last thing to ask you though, tell us about themorganreport.com and what you offer there and how people can benefit from your information.
Well, thank you.
I'm running a special right now.
It's kind of an experiment.
But what I'm doing is I'm giving a half-hour consultation to anyone that signs up for the premium service.
And it's for free and it isn't.
I mean, first you have to sign up, so you have to be of goodwill.
And after my half-hour one-on-one or one with you and your wife or you and your business partner or You know, I do with a business even.
And you get the reports, which means you get the current one and you can go back in the archives and look at like the last three months and see how accurate we've been and what we've done.
And you decide, you know what?
I don't want it.
You keep the consultation and you get your money back.
So it's a money back guarantee.
So it's something I'm trying because a lot of people are new and they've done what we've already talked about.
They are concerned enough to take action now.
Yeah.
And they want to take the right action.
And the best way to take action is to have a sit down and give them, you know, my maximum service to them to help them.
I mean, there's some people that really don't belong in any of these penny stocks.
I'm not a penny stock guy.
Yeah, I have a few of them.
And I research them and I believe in them.
But if you want to make good, solid money, this is what you do.
And I tell them how to do it, when to do it, and all that.
And then, you know, Sometimes I want to know where to buy, where to store, who do I buy from, all that kind of stuff, and they can ask me, Don, you're anything, and I'll answer it.
Well, that's very generous on your part.
I mean, that's your, you know, a lifetime of experience and wisdom in this space and helping people avoid mistakes is worth more than the full price of the membership.
Yeah, I've crossed paths with a lot of people, as you all know, Mike.
And I mean, some of them are coaches, and I won't go into their details, but they're fairly significant in their own realm.
And then they buy because, you know, they heard the pitch.
And I'm not a coin dealer.
You know that.
And so they buy from their local dealer or whatever.
And three out of four times, like, oh, I made this rookie mistake.
I wish I would have talked to you.
I know you would have taken my call.
And all that, and it got me to thinking, you know, Why not?
You know, because it builds rapport and it usually builds a relationship and you're more apt to keep a client.
I'm not really interested in, you know, how many letters I sell.
I'm more interested in how much I can help.
And I think people know that about me that have ever met me.
And this is something that just really makes me feel good.
Because the more people we have that come on board, the more power we have.
Because money is power.
And if you really want to change the world, change your purchasing habits.
I mean, if we all quit buying...
You know, X, Y, Z, GMO fruit.
Pick a fruit, I don't know.
And we stopped buying it.
Believe me, that market would change.
There's nothing more powerful than the power of voting with your quote-unquote dollars.
So anyway, I'm slightly off track, but I really think it gives people assurance that, hey, I get to sit down.
Half hour goes by pretty quick.
And so far, so good.
I haven't, anyways, oh my goodness, I wish I had wasted my time.
I've got the opposite.
Most people are, wow, thank you, thank you, thank you.
You really are going to help us, and we appreciate it.
That's great to hear.
I'm sure you're going to meet a lot of really amazing people.
And one of the comments I often get from guests like you that I have on the show is that our audience are some of the best people to talk to.
So I just want to encourage our audience to check out your site, sign up, themorganreport.com.
If you join the membership there, then you're going to get that half-hour consulting.
And I also want to just, full disclaimer, this is not a paid interview.
You're not paying me to do this interview.
I always reach out to you, David, because you have expertise.
You know what's going on.
You have a lot of wisdom.
And no one can interpret these events like you can.
So that's why I value you and your time.
Thank you so much.
Well, thanks for having me.
I really appreciate it.
You're very welcome.
Have a wonderful rest of your day, and thank you for taking the time to join me.
And again, for those listening, the website is themorganreport.com.
I'm Mike Adams, of course, from brighteon.com, and if you want to check out our free AI language models that are downloadable, and they already beat chat GPT on real-world questions like how many genders are there, you can go to brighteon.ai.
So thank you for listening, and God bless you all.
Take care.
We've got several high-demand products that are finally back in stock at our online store, healthrangerstore.com.
Let me show a few of these.
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Check that out.
Golden milk.
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We've also got laundry detergent back in stock.
And that's not going to last very long because, of course, we have laundry detergent that has no synthetic fragrances, no harsh chemicals, and yet it still works.
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So it won't last long.
I think we only have fewer than 1,000 units in stock.
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I'm telling you, the supply chains are difficult to work with these days.
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If you go to healthrangerstore.com, you'll see some of what we have, like this collagen peptide chocolate coconut drink mix.
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Just go to our store, healthrangerstore.com, check them out, and remember that every purchase helps support our efforts to bring you intriguing interviews and information as well as helping us build the infrastructure of human freedom through the free tools like Brighteon.ai and Brighteon.io free tools that we're giving back to you in order to exercise your free speech and preserve human knowledge through our AI language model projects that are non-commercial free of charge open source those
are available at Brighteon.ai And all of it is funded by your support of our store, healthrangerstore.com.
I'm Mike Adams of Health Ranger.
Thank you for your support.
Take care.
A global reset is coming.
And that's why I've recorded a new nine-hour audio book.
It's called The Global Reset Survival Guide.
You can download it for free by subscribing to the naturalnews.com email newsletter, which is also free.
I'll describe how the monetary system fails.
I also cover emergency medicine and first aid and what to buy to help you avoid infections.
So download this guide.
It's free.
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