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Sept. 4, 2024 - Health Ranger - Mike Adams
56:44
Andy Schectman joins Mike Adams for emergency update: Turkey to join BRICS...
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All right, welcome everyone.
Mike Adams here with brighttown.com, coming to you from my home studio on an emergency interview with Andy Sheckman from Miles Franklin.
That's why I have no video here, but he has video.
And with the stock market, I don't know, plunge and big news about Turkey and bricks and so on, I invited Andy to come on for an emergency interview.
So welcome, Andy. Mike, it's great to be here, bud.
Thanks for the invite.
I'm a big fan of what you're doing, and it's an honor to be here.
Well, look, let me just say, I'm absolutely honored to have you on.
You're doing incredible work.
You're educating people all over.
I mean, you do a lot of interviews.
You're very busy. You've got one right after this, too.
But you're also, I think you must spend hours a day staying up with all the latest news.
And let me give you credit where it's due.
You were the first person to talk about the rise of the BRICS system and how de-dollarization would accelerate.
Now everybody's talking about it.
But two years ago, it was only you, Andy.
You nailed it. I appreciate that very much.
Yeah, somehow I was able to stumble across all of the crumbs that have been laid at our feet.
And I don't think you need to be particularly astute to see them, but to put them together is a little bit different because in and of themselves, each and every one of these crumbs, I guess you could say, are significant for sure.
But when you put them together and try and fashion a cookie back into, you know, the crumbs into a cookie, it starts to I think, become much more significant.
And if I'm lucky in anything, it was the ability to take all of those crumbs and figure out a way to put them together in a coherent manner.
And that is kind of scary, actually, because when I started talking about this stuff, no one was.
As you mentioned, I was kind of out on a limb doing it.
And the fact that it's happened at the speed at which it's accelerating, Mike, it's concerning as a father, mostly, of three kids.
You know, I wonder what kind of world my My kids are growing up in.
So, yeah, it's a labor of love for sure.
I do spend about two, three hours a day every day.
And if I miss a day, I feel like I've lost a week.
So it is a labor of love, but something that I try and keep up on.
And thank you for the kind words.
Well, you deserve credit, and you've helped educate a lot of people about this.
Now, we've just seen news.
Of course, I've been talking about Operation Sandman for a couple of years also, and just to brief our audience, that's a plan, at least a rumored plan from some of my sources, that Many countries, I've heard different numbers, let's just call it a hundred, around the world plan to dump dollars in a coordinated fashion.
Now, we might be looking at kind of a spread out Operation Sandman situation.
If not the sudden version, because Turkey just announced they want to join BRICS. So Turkey being a NATO country that does tremendous trade with the West.
And Andy, before you respond, I just interviewed Colonel Douglas McGregor a few hours ago, and I asked him, will Turkey stay in NATO? And he said, I don't think so.
Wow, right? So what's your reaction?
Yeah, I mean, I think they're choosing sides.
We're seeing a lot of that. Look, Turkey asked to join the European Union and they were turned down.
And I think that gave them a greater incentive to be the first NATO member to request membership in the BRICS block.
And, you know, it's no coincidence that they're a massive purchaser of gold as well with all of the The discussion about the new unit settlement token, gold will be a centerpiece for it.
But when we talk about BRICS, yeah, it's a huge deal that we're beginning to see countries like Turkey, who are a Western ally and a NATO member, in my opinion, throw their hat in the ring and begin the The choosing of sides.
And a lot of countries are going to have to make that very difficult decision as the West continues to alienate themselves through weaponization of the Treasury and the dollar and the Western system.
And I think a lot of countries will find safety in numbers with this growing block.
Last we heard, Mike, 59 countries have formally applied on top of the ones that are already there.
Turkey being one of those 59, I think we'll see in the big meeting in October that number will be much bigger and much more significant.
One of the interesting things is that they won't tell us who those 59 countries are.
And so are there other countries that are G7 Western friendly, so to speak, that have thrown their hats into the ring?
I guess we'll find out. But Turkey is the first one that has been validated.
So it's a big deal. Yeah, absolutely.
I think it's as big a deal as Saudi Arabia announcing that they would sell oil in currencies other than the dollar.
A hundred percent.
A hundred percent. Yeah, go ahead.
No, it is.
And because these are all Western allies, and when you start to make these types of decisions, I think what it also does is it incentivizes and It gives a little bit of courage, if you will, to the other countries that are wavering.
You know, there's been talk about Mexico.
There's been talk about even Japan.
There's been talk about Australia, about New Zealand.
Now, these are all just rumors.
Jim Willey has mentioned several of them.
I don't know them to be true, but certainly I think as one starts to join the, you know, throw their hat into the ring, you'll start to see others as well as this Western system begins to crumble underneath its own weight.
Let's talk about the crumbling.
And one way I think of what's actually happening, especially now with Turkey's announcement, is that the number of Western trading partners that will only use the dollar or primarily use the dollar amongst themselves, that number is shrinking.
And I think what this means is it's almost like a global currency embargo against the West.
Yeah. Yeah. 100%.
I mean, look, the system, as Putin said recently in a meeting, I think in St.
Petersburg, he said, look, the Bretton Woods system is dead.
And now the United States is, you know, the dollar is backed by nothing but the faith and credit of the United States.
And when you talk about, first of all, the credit, We're a country that is $35 trillion in debt nearly, which doesn't take into account the nearly $160 or $70 trillion in unfunded liabilities like Medicare and Medicaid and Social Security, government and military pensions.
We're creating $100,000 of debt every second, five, six, seven, and keep on going.
That's a trillion dollars every hundred days.
That's A feat that took 200 years to do the first time.
And so when we talk about credit, we're broke.
We're at 123 or 4% of debt to GDP. And I remember back in the day, if you're over 100%, you're a banana republic.
But at least we have, you know, fair elections and a judicial system, which isn't too feared.
Wait a second. Wait a second.
Let me think about that for a minute.
I'll come back to that.
But when you talk about the faith and credit of this country, we're broke, we're insolvent, and we have done much to anger the world.
That's the faith. And when you talk about faith, you know, election integrity and judicial system and open borders and wokeness and nuclear family and the breakdown of society, the way that it has, is not lost on the rest of the world.
So when you talk about a system that is based upon nothing but Faith and credit, we're running short on both.
And so I think, yes, there are many countries that are only taking dollars.
The hegemony might be dead, but the supremacy isn't.
But that number, which was upper 70% in terms of percentage of assets in U.S. dollars, It's got to be down into the mid-50s now and falling.
In fact, gold just surpassed the European Union currency for the first time ever as the number two most held asset in central bank balance sheets.
So the Western system is on the way out.
There's no question about it.
And it's by our own doing.
And I think long overdue by most of the world's opinion.
I want to help people understand the mechanisms here, but by the way, I need to update your number.
You mentioned unfunded liabilities, and that number now is $219 trillion, by the way.
That's from the U.S. debt clock right now.
Wow. Right.
Because, like you, I remember it being $160 trillion, $170 trillion.
Now it's $219 trillion.
I guess when you add $100,000 per second, that seems to add up quickly.
Well, it's unpayable.
It's utterly insane.
And what's going to happen is, if you think about all the people that have to collect Pension payments or Medicare benefits or various retirement benefits of any kind that are denominated in dollars based on the full faith and credit of the U.S. federal government, that's all going to get nullified at some point.
I mean, you and I don't know when, and we're not making an official prediction of when, but at some point, isn't it just...
Worthless like every other failed currency.
Yeah, and maybe even more relevant or important is the lack of demand in U.S. Treasuries for much of the same reason.
We're distorting the value through inflation.
We've proven we will weaponize it if we're not aligned ideologically.
And when you realize that you have less people willing to take our dollars and less people willing to take U.S. Treasuries, the fact that the government has trillions of dollars worth of bonds which are maturing this year and next, you have to ask yourself where does that come from?
Who's going to finance our Our irresponsible, insatiable debt-spending binge, we continue to spend like we're drunken sailors, and yet the creditors who have allowed us to live well beyond our means for a very long time, I think, are looking in a different direction.
Even when you talk about gold, over the last 25 years, it's averaged 9.9% compounding with no counterparty risk, which bubbles the performance of the 10-year treasury, which can be taken from you.
When you realize it was revalued, a tier one asset, and when you realize it will be part of a new system called the unit, which we can talk about if you'd like, the drive for all of these countries to de-dollarize and to sell treasuries, to de-treasurize, if that were a word, and accumulate assets, as Zoltan Pozar says, he or she who has the commodities wins.
This is no longer about promises from a paper tiger.
This is no longer promises from a broken, insolvent country who has chosen to weaponize the The world reserve currency and the treasury market.
Instead, it is about gold, which has immutable wealth with no counterparty liability.
It is a very bad trend for the US to find themselves in the midst of.
And quite frankly, I think it is just beginning.
I don't think we've seen anything yet.
I completely agree with you.
And when you say that gold has no counterparty risk, I really want to underscore that for the audience.
So, folks, when you hold assets in a bank, You have to trust that the bank is going to be solvent and is going to give you your assets when you request them, which often does not happen.
There can be bank bail-ins and bank holidays, right?
So gold in your hands means there's no counterparty risk.
You're not reliant on anybody else.
Even a pension benefit check, that has counterparty risk with whoever's paying the pensions.
Now, but you mentioned the unit, and I want to ask you to talk about the unit, and let me preface that by saying Yeah.
financial oblivion.
And the history of reserve currencies, the British pound sterling, the currencies from France and Portugal before that, whatever, all throughout the last six centuries have always been currencies that a government could print.
The unit under bricks will be the first global settlement currency that cannot be counterfeited by any one nation.
And it's backed partially by gold, or at least that's the rumor.
So can you speak to the significance of that, why it's actually history unfolding?
Yeah. Yeah, it's a very big deal.
It's a huge deal.
The unit is a, first of all, let's talk about Project Enbridge.
I've been talking about Project Enbridge for about a year now.
It is a cross-border payment system, Mike, that was developed between China, Hong Kong, Thailand, and the United Arab Emirates.
And it allows countries to trade central bank digital currencies amongst themselves.
Now, if we go back to the end of August last year, when the meeting in Johannesburg took place, A lot of people thought, because James Rickards said that they might come out with a common settlement currency.
A lot of people were bummed out about that when they didn't.
But what they said is, we will conduct business for the next year in our local currencies, and we will task the finance ministers to go back to the drawing board, present their findings in Russia here in October of 2024.
And so we've seen a lot of that.
We've seen, you know, Russia trading with India in ruble and rupee.
Brazil and paying in digital yuan, which is convertible into gold immediately on the Shanghai Gold Exchange, which is the only other Tier 1 asset, gold.
We've seen all of these countries trading with one another in their local currencies.
So that's point number one.
Enbridge will allow countries to continue to do that back and forth with one another, free from any Western...
Intermediary bank interruption.
In other words, outside the SWIFT system.
Can't be sanctioned.
And it's important to note a couple things about Enbridge.
Number one, the dollar is not compatible with Enbridge.
The United States is not part of Enbridge.
And Saudi Arabia just became a full participant.
Wow. In Enbridge. So you have the four countries who developed it, Saudi Arabia being the fifth full participant.
You have, as a backing partner, the BIS and 20 or 30 observant countries that are watching how this all unfolds.
Saudi Arabia being the big one.
Okay, so that's laying the foundation for Enbridge.
And one of the things that I mentioned over the last year quite frequently is that, to me, oil and gold have been re-monetized across the globe, as an example.
Iran awarded China a huge deal to modernize their biggest airport for a few billion dollars.
They're paying for it in oil.
And the first trade that was done cross-border between UAE and China and digital yuan was for gold and the other for oil, both between these two countries using CBDCs over the platform, the Umbridge platform.
To me, gold and oil are replacing or becoming more valuable than the currencies that are used to buy them.
So that lays the foundation.
Hold on, Andy. Let me... I'm sorry to interrupt.
Let me ask you something along those lines.
So when there are international settlements and there are imbalances, trade imbalances, because some countries export more than they import, are those balances, even when they're using the Enbridge system, when there are imbalances to be settled, are some of those settlements going to be happening in gold or oil or other?
Yeah, so this will be the unit.
And this is what I believe will be the unit.
So we will trade. If I'm one country and you're another country, Mike, you and I keep trading back and forth between our currencies and maybe you have enough of mine and I have enough of yours or there's an imbalance and I really want to buy from you, but I don't want any more of your currency.
That's where the unit comes in.
And this is really a big deal because so many people are saying, well, they'll never be a common currency.
They can't trust each other, India and China, and they won't trust each other.
Well, My first point was, who the hell trusts us anymore?
But by the same token, you know, that is somewhat of a valid point.
And I think they are working to get to a point where they could issue a common currency.
But this is a common settlement currency, which is different.
So let me explain. There was a meeting in Novigrad that coincided with the G7 meeting in Italy.
And, of course, the crown prince of Saudi Arabia was invited.
He said, I'm busy, guys.
Thanks. I'm gonna have to decline, but he sent his finance ministers to the meeting in Novigrad where I don't know how many 150 plus countries were in attendance.
And we find out that 59 countries have formally applied.
That was one of the things we found out.
But the biggest thing we found out was a meeting on the sidelines, two meetings, Between Sergey Glazyev, and by the way, Sergey is the reason for the last three, almost three plus years, I've been talking about the BRICS having ultimately a currency that will be backed by a basket of commodities and a basket of currencies of the BRICS plus nations.
And, you know... Leading up to that moment, the fact that gold was reclassified Tier 1, it just became obvious to me that gold was going to be a big part of that.
So here we are a few months ago, this meeting, or a month ago, and this meeting happens, and Delma Rousseff comes out and says, I had a meeting.
Delma Rousseff, the former president of Brazil and the head of the BRICS New Development Bank, she is the chief operating officer of the New Development Bank, And she came out and she said, look, I had two meetings on the sideline with Glazyev and Putin, and in principle, we have agreed to a new settlement currency called the unit.
And the unit will be traded over Project Enbridge.
And the unit will be a basket of 60% BRICS plus currencies, with no more than 30% of any one currency dominating the basket, and a basket solely of 40% gold kilo bars to be delivered upon request.
Now, this is where it gets very interesting.
Now, you know, you got, you have, this part I'm going to mention is kind of supposition because you have the BIS behind this as well.
And if you remember in 2017, in the midst of a six-year drawdown in gold, Bitcoin's taken off, no one's doing anything.
The Bundesbank made a big deal about bringing back their gold.
And I've talked with you about this maybe in our very first conversation.
And shortly after the German Bundesbank said, give us back our gold, you had Hungary, Turkey, Austria, Poland, the Czech National Bank, yet all of these Eastern European countries say, we want our gold back too.
This was within just a few months of Germany requesting it.
And then the next year in 2018, those banks which had been net sellers of gold went on a buying spree to the magnitude of combined their purchases in 2018 was more than they did cumulatively in the 60 years previously combined.
The next year, 2019, that number is up 100%.
And then somehow by coincidence, the BIS said, oh, by the way, guys, gold is now tier one.
You know the BIS said to these banks, listen, we're going to value as part of the Basel III deal.
Gold's going to be revalued.
Start buying it. Bring it home.
Okay. So that's how they operate.
Now let's look at what's happened here.
The BIS is behind it.
A simple Google search came up with Germany, Austria, Slovakia, Argentina, the Netherlands, Saudi Arabia, which was just a few weeks ago, along with Egypt and a handful of African countries, Hungary, Belgium, Egypt, Senegal, Romania, Nigeria, Poland, Ghana,
India, Turkey, France, Serbia, Venezuela, Algeria, Cameroon, South Africa, Czechoslovakia, and others have all repatriated their gold We're good to go.
But one and a half times the amount of gold they bought all of last year, which is a record year in the first four months of this year, sent it all home, plus 100 metric tons they've held at the Bank of England since 1991.
And we've seen a dozen plus banks all bring their gold back from central banks from the New York Fed.
So these people, these countries would rather have access to it instead of Allowing the Bank of England and the New York Fed to make it easy to trade on these Western platforms.
Now, the easy answer is...
I'm sorry? Let me add in also, I think they observe what the Western banks, the European banks, did to Russia's assets.
That's why. Outright theft, right?
Venezuela, where Bank of England didn't give them back their gold.
Right, right. So that's the easy answer, right?
That's the easy one. And that probably is partially right.
You know, if you don't hold it, you don't own it.
And we've taken $5 billion in Russian assets and used it to buy weapons to give to the Ukraine.
That's a line you don't come back from, man.
You're supposed to be impartial as a reserve currency.
And the European Union taking the interest of the $280 billion in Russian assets and providing a loan to the Ukraine backed by that.
This is a line you don't come back from.
And especially when Janet can say to CNN, listen, we're okay with Xi and Putin being buddies in bricks.
Well, thank you very much, Madam Secretary.
But if Xi gives one penny to Putin for the war machine, we will sanction his banks, his companies in Beijing itself.
Never mind the $260 billion that we've given with no congressional oversight and the F-16s and the Stinger missiles and all of this stuff, because we're the world reserve currency.
That's the easy answer.
Yes, but Andy, let me add the—I'm sorry to interrupt.
No, that's good. You can't see me because I'm not shooting video.
But it was also the reasoning of the West saying, we didn't steal Russia's $280 billion.
We just made it illiquid.
It is a liquidity freeze, which is, in this modern world, the same thing as theft.
If you can't move it, you don't own it.
It's theft, and that's exactly right.
And especially coming from a country who invaded Iraq 20 years ago, and we're still there.
We went there for weapons of mass destruction.
Sorry we didn't find any.
We toppled your country, installed a new regime, sanctioning 14-year banks right now, and they don't even have immediate access to the $90 billion in oil revenue they made last year that's held at the New York And so the world looks at us largely as being hypocritical, much of the Southern Hemisphere.
Pirates. I think the West has become pirates.
Of course. Just pillaging all the assets that they can steal.
Well, yeah. Where did Hussein's gold go?
Where did Gaddafi's gold go?
Where did the $12 billion in gold that Ukraine sold?
Where did all that go?
And so, yes, I would agree with all of that.
And I hate to say it because...
Mike, I mean, I'm a patriot, man.
I'm the most unlikely person to have achieved the level of success I did.
Yeah, I work hard, but I've been doing this for 34 years.
I'm a 34-year overnight success.
And it took a long time, and I owe my life to this country for everything it gave me, for all of the opportunities.
And it kills me to see what's happening.
Yeah, me too. But along the pirate line, the U.S., I think the State Department just stole Maduro's jet.
Yeah, they did. They did.
Because it was obtained illegally.
And how many times has the U.S. or European countries under pressure from the U.S. stolen, like, oil tankers from Russia or other countries?
Like, oh, this is our ship now.
Well, and that's the point.
That type of...
is growing very old on the rest of the world, who is becoming motivated, sophisticated, coordinated, and wealthy.
Now, they never were back in the day.
They were mostly third world.
But so what you're saying is a large portion, I believe, of the reason that they've all repatriated their gold.
But digging deeper, as I often try and do, I read the white paper on the unit where I saw something incredibly interesting.
And that was that the unit will be comprised, as I said, of 60% BRICS plus currencies.
And as a side note to that, I did an interview with Vince Lancey, very smart, very smart dude.
And he says it is his belief that China and Russia will do the best they can to back even loosely Their currencies with gold, so it comprises the majority, getting up to that 30% backing of the currencies comprised in the BRICS. Now, that's supposition, but nonetheless, 60% basket of currency, 40% gold in kilo bar, deliverable on demand, but here's the interesting part.
The gold and the currency will be taken out of circulation when they mint these new tokens that will be traded over Enbridge.
And these tokens, the unit tokens, the gold and the currency is put into escrow accounts.
Wow. Within the borders of the countries that possess them, an independently and continuously audited third party to maintain the integrity of the system.
So all of those countries who are bringing back their gold, and think of the way the BIS operates.
All of these countries are bringing it home.
The easy answer is weaponization and no longer trusting the West.
But maybe the BIS said, hey guys, bring your stuff home.
It's going to be part of the new system.
And it will be gold-backed and the unit token will be minted and audited within your own border.
You don't need to send it to Beijing.
You don't need to send it to Moscow.
And like the U.S. Federal Reserve, there is not one entity ruling the roost.
So when you look at all the countries bringing their gold back, now it makes sense that, hey, they're going to be part of the unit settlement token.
Absolutely. And that's your question about us having too much of each other's currency.
Well, I'll tell you what.
I'll buy your stuff, Mike, and this time I'll pay it in the unit.
And you can even stand for delivery if you want in the gold.
So let's do a little bit of math here to understand this, because this is a key point, I think, for history, to understand why no one country can counterfeit these units.
So you said 40% backed by gold, 60% backed by a basket of currencies.
No one currency can comprise more than 30% of that 60%, which means that there's 18% maximum influence over the whole pool by any one country's currency.
So, in other words, no one country can just counterfeit like crazy, and if they start hyperinflating their own currency, they'll create all kinds of other domestic problems anyway, and they might be disinvited from...
Well, hang on. Let me stop you for one second.
Remember, Enbridge says you're all going to maintain your own...
Monetary autonomy. You're all going to take care of your own ecosystem and don't worry about the dollar and having to convert to dollars first to transact business.
You will trade with one another in your local currencies, which means everyone is going to want to do their very best to maintain integrity of their local system.
Right. Now, so Enbridge is going to trade not only the unit, but also local currencies.
So there'll be a lot of back and forth with local currencies.
Right. And then the unit to settle things like energy or trade imbalances or any of those other things.
So also then to explain to the audience, but I mean, the point I was trying to make there is that 30% and 60% is just 18%.
So that really limits the ability of any one country to try to override the system with counterfeit currency, which is what the U.S. has done.
But then if I'm India, or let's say if I'm Russia and I'm buying tractors from India and I'm No, let's go the other way around.
Let's say I'm Russia, I'm selling energy to India.
And India's paying in rupees.
But if I'm Russia, there's only so many rupees I want.
Because I don't want to buy, maybe there's not other great stuff I want to buy from India, but I would love to take units that I could spend with China to get electronics or rare earth minerals.
As part of Russia's weapons systems, right?
Yes, or I can take those rupees, and I don't want any more of them, and if I'm going to make a new unit token, I can put those rupees in the basket of the BRICS plus currency.
So there's a release valve, if you will, on the other side there.
Right. So, but then also, to create new tokens, if I'm one of these countries, if I'm Russia, I also have to come up with 40% gold.
And it's deliverable in kilobar form.
Right. So that means there's no way to fake this system.
No. So it's uncounterfeitable, if that's a term.
That's right. And by their very nature of being cooperative, where not any one country holds the presidency, for more than a year it rotates, or even their corollary organizations, the Shanghai Cooperation Organization, there is no mandate in Every country is there because they want to be voluntarily finding strength and unity in numbers and doing things the right way.
So they are all incentivized to keep their fiscal and monetary house in order and to accumulate lots of gold.
And that's the way it should be.
It's kind of like doing stuff on eBay.
You know, you screw someone on eBay and they say, don't ever trust this guy again.
Or in my business, there's something called the certified exchange.
If a dealer doesn't pay, that dealer will never ever see the light again from any one of the 3,000 dealers on the CCE exchange.
And so it's about being honorable and doing things the right way, honoring your word and honoring the integrity of your ecosystem that is now part of a bigger deal.
But it's not a common currency.
We're not beholden to a central bank or to the Chinese or the Russians.
Everyone is doing this voluntarily, and it's ultimately gold, which is the only other tier one asset in the world, next to U.S. dollars and treasuries, and it's these countries that now must be managed appropriately in order to be really demanded within the unit ecosystems.
And let me add this, and correct me if I'm wrong, but I've also read the Unit and Enbridge white papers, and as I understand it, this is a distributed but permissioned blockchain system.
So it's not that anybody can set up a node and start rocking nodes and try to overthrow with compute power and try to hack the system.
The nodes are distributed, like Bitcoin nodes, let's say, but they're only run by participants who have permission to run those nodes.
Is that correct? That is correct.
And think about now the biggest participant, Saudi Arabia, the world's largest producer of oil in the world, who turned down a meeting to the G7 and instead went to Novigrad, is now a full member of Enbridge.
And so this is a big deal.
And if you think about it, you know, If they were to ratify this, there's supposedly a meeting.
Dilma Rousseff said, in principle, we've agreed to this, and we're going to have a meeting in September in China to ratify it.
And if indeed it is ratified and rolled out in October, what is the need?
Here's your Project Sandman.
Here's the moment that I've talked about, even before I knew what Sandman was, where every country in the world, and largely because of you, and I always give you credit for that, but because...
If every country in the world's had to own dollars for 50 years, stockpile them, giving us this synthetic demand, this exorbitant privilege of being the World Reserve, if every country's had to hold them for 50 years and all of a sudden they don't, and you have a new settlement currency, and you have, instead of buying treasuries, which you can buy gold, which has doubled its performance for 25 years but lacks that counterparty risk, Of central bank confiscation based upon ideology.
And so in every sense of the word, it makes sense to de-dollarize.
And I'm very fond of the term logarithmic decay.
And this is again, Project Sandman.
Little by little by little by little by little by little they have all been de-dollarizing.
Little by little by little by little they've all been accumulating commodities.
And little by little by little, they've all been selling treasuries.
Until, bang! That one moment, maybe it's in October, where the Operation Sandman, they call it the night of the switch.
That's when it happens, because they've all...
We've done enough to not cut off their nose to spite their face by doing things methodically, slowly, using the Western suppression of the commodity markets against us by standing for massive delivery.
We can talk about that too. The monster deliveries we've seen off of COMEX and the LBMA recently, they're draining our system using our overvalued dollars and selling treasuries and replacing it with commodities.
To me, the concept of Sandman, it's so logical.
And in particular, when you realize our lead economic advisor, Jared Bernstein, advocates for losing the World Reserve status.
And, you know, everyone always said the Fed can inflate.
They can default. I say option three, find a villain.
And that villain is Xi Jinping and Putin and OPEC. They did it to us.
And now the rest of this country, who you know as well as I do, is naive enough to believe something like that, that we were innocent in all of this.
They would then gladly accept Lael Brainard, the number two economic advisor, her CBDC, which she developed when she was at the Boston Fed with MIT and just ran point recently for FedNow.
She is a modern monetary theorist, as is Jared Bernstein, and they advocate for losing the reserve status.
So is it too stupid to be stupid, or could we actually be purposely trying to make this happen by our foolishness here and our foolishness there?
The FBI just arrested and the DOJ just charged a former staffer of New York Governor Kathy Hochul, accusing this woman who appears to be a Chinese national, accusing her of being essentially, I don't know if spy is the right word, but violating the foreign influence of FARA, as it's called, on behalf of China.
In other words, working for China in the United States as part of the government.
Now, there's no question that China has influenced a lot of various offices.
I can think of a former California senator that was practically a Chinese spy herself.
But China has been very clever in this to avoid being accused of weaponizing the selling off of U.S. debt.
And you just alluded to it.
China has been allowing treasuries to expire rather than dumping them, which could be considered an attack.
But they allow them to expire, and instead of renewing more treasuries, they just buy gold with it instead.
Brilliant, actually. And they were at one point almost $3 trillion.
They're just over $700 billion, so it is a slow roll.
But that's how they do things.
If I admire one thing about this whole ecosystem that they've put together is just how methodical and plotted they are.
You know, people in this country, maybe largely because of the rise of crypto, you know, Richard Russell was a mentor of mine.
He said, you make 7% a year, you're a rock star.
Now everyone needs instant gratification right now and it's got to be 50 or 100%.
And if it's not immediate, well, it's just dismiss it as being a nothing burger.
And that's why a lot of people have dismissed this slow roll of bricks, which is almost 18 years old right now, by the way, and accelerating, of course.
But you're right. And I admire the fact of how they think big.
They think in terms of decades.
We think in terms of minutes.
And they have been slowly, slowly, not...
When you realize, like in terms of gold, the LBMA admits to trading, they admit to trading roughly 20 million ounces of gold, just under 20 million ounces of gold per day.
What?
20 million, but they say that those numbers, and they admit to the numbers being 10 times understated because they only post the end settlement numbers.
That means they're trading 200 million ounces of gold.
Wait a minute.
Let me just make sure I'm giving you the right number.
I think... Hang on. I am right here.
I'm not giving you the exact right numbers.
It's 100...
I know in silver they trade...
They trade 290 million ounces a day.
They admit to it, but they say that's 10 times that.
So they're trading 2.9 billion ounces of silver per day every day.
That's three and a half times annual global mine supply.
Yeah, that seems insane, but it's all paper trades, right?
This is why they're draining the exchanges.
And in gold, the LBMA estimates 17 million ounces per day.
This translates to total daily volume of 170 million ounces because it's 10 times understated, of which 90% or 153 million of the 170 million is spot trading of physical gold as promissory immediate ownership contracts.
So you have them trading 3 billion ounces of silver per day in London and 170 million ounces of gold per day, of which 90% of it is paper promises.
Well, this is exactly how they are beating us.
And check this out. In gold, so far in the second quarter, 10.6 million ounces, or 329.2 tons, has been drawn down from London and off of COMEX. Just last week, in the first day of the August delivery, 28% of the registered category, those are the bars that are backing what is available, backing the contracts, was delivered.
That worked out to 4,142 contracts.
So if you take 4,142 442 contracts times 100, which is the weight of a gold contract.
414,200 ounces.
Call it times 2,500 bucks.
You're at 1,035,500,000.
That was in the first day.
A billion dollars worth of gold was taken off of COMEX. And in the past...
Well, that's probably the biggest I've seen and I can remember.
I would say at least the last two or three years, it's the biggest one-day delivery that I can ever remember seeing.
But this all points to a physical squeeze that is historic that eventually...
There's not enough gold to fulfill all the paper.
No, and it's these countries that are doing it.
It's the sovereign wealth funds, and largely through the OTC market in London, the over-the-counter, which is opaque, and it's one-to-one.
It's not off of an exchange, and so it's much less regulated and much less transparent.
So you get sovereign wealth funds who will come in on behalf of the Chinese government and say, yeah, I'll stand for delivery for $500 million in gold, thanks.
And in silver, The silver deliveries are- Andy, Andy, before I forget though, tell our audience, because your company, Miles Franklin, offers gold and silver.
And helps people get squared away.
And this is not a sponsored interview, just to be clear, but I know you have a special kind of a VIP price sheet that people can only get via email.
How do people get that from you?
Send us an email at info at milesfranklin.com and our prices will be as good or better than anywhere in America.
Ask us any questions.
Direct it to me if you'd like.
Any questions you've heard here or Anything else you want to talk about, IRAs or anything, and we will send it to you with no obligation at all.
And just ask for the price list if you want.
Okay, so that's info at milesfranklin.com.
And even though this isn't a sponsorship, just to let us know you came from this video would be very helpful, and we will immediately get back to you with whatever you're requesting.
If you want to be contacted, put a phone number, but we will not be undersold.
And following the same...
In silver deliveries, we have seen, for the...
August delivery, or maybe it's the September delivery, I'm not sure, but COMEX had 3,830 silver contracts yesterday or the day before, so that would be September, I think, stood for delivery.
That's 19,150,000 ounces that stood for delivery.
I mean, who's got that kind of bread?
I don't know.
And why are they taking it off the exchanges?
Who's got the transport trucks for that?
Silver's heavy, you know?
I mean... You know what it's like to move cases of silver around because you're in the business.
I mean, you've got to have a forklift and pallets.
It's crazy. If you take 19,150 times 500, that's nine...
1,575,000 ounces.
And so divide that by 16, you're at 59,000, take that back, 598,437 pounds.
So you're talking a lot of weight.
That is a boatload of silver.
You've got to have dump trucks to load that.
Just as a side note, I did an interview with a guy named Sean Kunkun, who's a fantastic dude, and he's the CEO of Dolly Varden Silver.
And he said, Andy, it's crazy.
He said, China is flying all around Latin America.
They're going directly to the miners, and they're buying up all of the Dore and silver concentrate unrefined, shipping it home to China and refining it.
It doesn't come off of an exchange that way.
It's transparent. It doesn't have effect on the price.
And they're paying double what the West will pay for it.
How many people know they're the second largest producer of silver in the world?
So these countries are saying, screw the dollar, and they're using commodities in favor of treasuries and dollars and traditional ways of doing things as the Western media lulls everyone into a slumber.
This is the little by little by little, the logarithmic decay that leads up to the Operation Sandman, where they have adequately de-dollarized, de-treasurized, and bought all the commodities at the Western stupid price that they could.
In fact, China's been having on the Shanghai Exchange silver price at four bucks an ounce higher than the West for the last several months to incentivize the traders who can buy in the West and deliver in Shanghai.
They're trying all they can to siphon Using jujitsu, our leverage against them by taking everything off the table that they can from soft commodities to hard until that moment where no one will sell them at those prices anymore.
They see the value of being pre-positioned with gold and silver, clearly, because they're offering a premium in order to acquire it.
Now, what all of this says to me, Andy, is that when the musical chairs stop for the Western financial system, Any nation, and frankly any individual, that's not holding gold and silver is going to be royally reamed.
Yeah. Is what it looks like.
And I think the thing to understand is if you look at the motivation behind all of these countries, they're not investing, and neither should you all.
This is not about investing.
Gold and silver go back to biblical times.
They've been wealth that has outlived everything the world's ever thrown at them.
And when you look at price, you're easily misdirected.
And they know this. It's called painting the tape.
They can paint the tape all they want.
They can suppress the price, manipulate the price.
Manipulate rhetoric, make everyone think that gold and silver are archaic relics of the past, and it allows all of these banks to reposition and to do so because they view it as wealth.
They view it not as an investment.
They're not trying to get wealthy.
It is wealth.
And that's when you see the most sophisticated and well-informed traders.
Think the way the BIS operates.
I'm telling you, the BIS told all of these countries, bring your gold home.
Before anyone ever announced the unit, that it would be 40% gold held within the own borders.
Just like they did in 2017, said buy gold and bring it home before it was announced the only other tier one asset.
This is how the BIS operates.
They tell the big boys and girls before they let the rest of us know what's happening, allowing them to quietly, methodically reposition, not rocking the boat, not letting any purchase get too big, not letting any price swing to get too big.
And then you see even Representative Mooney from West Virginia petition the Fed through the Freedom of Information Act, I think, and I don't know if he's gotten it yet.
Who have we been delivering all of their gold?
Who's been requesting all of their gold?
And they don't want to tell us because it just goes to show the West losing their grip little by little.
And it's a big deal, Mike.
To me, it's a huge deal.
And again, these are all the crumbs.
Now, do I know that this is all going to happen?
No, I don't. But you put the crumbs together and it looks pretty darn convincing that this is indeed At least on the table for a potential how it all plays out moment.
Well, there are a couple things that we do know with certainty.
Like, number one, we know that dollars will lose value because the government will keep...
Well, the Treasury... I'm sorry.
The Fed, at the order of the Treasury, will continue to print dollars.
So we know the value will fall over time.
That's absolutely guaranteed.
You know, they're not taking...
Dollars off the table.
They're printing dollars like crazy.
So that's guaranteed. Secondly, we know, like you said, gold and silver throughout history, they have held value.
And I'm teaching Bible scripture right now in terms of nutrition and superfoods, and there's gold mentioned all over the Bible, which means gold had value even then.
It's in the Old Testament.
I think over 400 times it was mentioned.
Yeah! Even God was like, to the ancient Israelites, like, if you are wicked and selfish and greedy, I'll take away all your treasures, including your gold and your cinnamon.
And I'm like, well, cinnamon's very affordable now, but gold has held value over all these years because of the scarcity.
So gold will survive the rise and fall of civilizations, the collapse of empires.
And the U.S. empire is now in, I would consider it to be, an accelerating end-stage, collapse-stage scenario, if you know anything about history.
That's just, it saddens me, Andy.
It's awful, Mike. It breaks my heart.
I got three young kids, man, and it kills me.
It truly does. And I see it every day and ask myself, how can this stuff be happening?
But... What you just said, I want to kind of wrap it all up with a very interesting thing, what you just said, and I'll put an exclamation point on it.
There's a man named Adam Glopinski, and Adam Glopinski is the head of the Polish National Bank.
And they've been buying gold on pace with China, and they were, I think, the largest purchaser last year and on pace to be close to it this year.
Poland, I want to read you something Adam Glopinski said, and I want your people to think about this.
What you just said, think about it in that context.
And he said that holding gold is a matter of financial security and stability.
Now get this, Mike. Gold will retain its value even when someone cuts off the power to the global financial system, destroying traditional assets based on electric accounting records.
Of course, we do not assume that this will happen, but as the saying goes, forewarned is always ensured, and the central bank is required to be prepared for even the most unfavorable circumstances.
That is why we see a special place for gold in our foreign exchange management process.
Cuts off the power of the global financial system destroying traditional assets based on electronic accounting records.
Well, I mean, how many times have we heard recently about that type of situation happening?
And when the Nikkei collapsed, is it ironic that all of the platforms across the U.S., like Robinhood and Fidelity and Vanguard and Schwab, they were all inoperable.
Sorry, we're down. There's a problem, a bug or whatever.
It becomes very interesting when you hear a head of a central bank say that.
Now, is it a crumb?
Is he clearing his conscience?
Is he sending out a message to people to pay attention?
So we told you that this could happen.
I'm not saying it is, but I think it's very almost eerie to hear him say that.
I watched a movie. I don't watch many movies because I'm so darn busy, but I watched one a few months ago with my wife on a rainy day here in Florida.
And at the end of it, I'm like, geez, that was a scary movie.
And my wife said, do you know that the Obama's produced it?
I'm like, what? This is a movie about the grid and the internet going down.
And it's frightening.
I don't know what it's called. End of the world.
I forgot the name of that.
And so you keep hearing about this.
I'm not saying that's going to happen.
I'm not throwing that in there to frighten anyone.
But he did just say this.
And the fact that he says it to me is a little bit eerie, if you will.
Yeah, well, absolutely.
And I know we've got to wrap this up, and I thank you for your time.
What's the email address, again, where people can get the VIP price list?
Info at milesfranklin.com.
And I saw me on Mike Adams' show.
Any questions, none are out of bounds.
You want just the price list.
If you want to be contacted, put your phone number down.
And again, I will say it, and I'm not trying to You know, to be trite or anything.
I'm a big, big admirer of you.
And I think what you do is amazing.
And you're one of the guys that I go to for information.
And I just am very thankful to be here.
And I will come back whenever you'd have me.
It's just good to be part of what you're doing.
So thank you. And to all of you out there, it's an honor to work with you.
If you have any questions directed towards me, please send them and say, this is for Andy.
And I will do my best to reply to each and every one of them.
Absolutely. Just to clarify to the audience, I don't get paid when you purchase gold from Miles Franklin, but it helps make sure that Andy picks up the phone when I call for an emergency interview.
I would anyway, Mike.
I appreciate you jumping in last minute here because of what's happening.
Well, that's my pleasure, man.
And that tells me I'm doing something right to be noticed by a guy of your prestige.
Well, you're my go-to guy on all of this.
So let's stay in touch.
I know you have another interview to jump to.
And keep me posted on any big things that you see happening.
We'll get you back on whenever it's necessary.
I will leave you with one last big item that I saw, and I bet you saw this, too.
Yesterday, I saw a video where Kamala Harris just promised that she'll use tax dollars for reparations when she becomes president.
I mean, you just can't make it up anymore.
That, along with giving free loans, interest-free loans to undocumented immigrants, and they never have to pay back unless they sell their house, only in the great state of California.
You just can't make it up.
So, you know, as the Chinese curse says, Mike, may you live in interesting times.
These are indeed interesting. And with the big BRICS meeting in October and the election in November, please, if you ever want to pick up where we left off, color me interested and know that I'll be here and we'll look forward to see what kind of curveballs the world's thrown at us.
But until then, I hope you and everyone else stays well.
And again, thank you very much for having me.
All right. Thank you, Andy.
And stand by while I wrap this up.
But thank all of you for watching.
Mike Adams here, brighteon.com.
Sorry, I don't have video for you right now.
This is from my home studio, but Andy does.
And Andy looks good enough for both of us.
So thank you, Andy, for broadcasting video.
Okay. Again, milesfranklin.com is Andy's website and info at milesfranklin.com is the email address.
Thank you all for joining me today.
Stay safe and take care.
God bless. All right, this is Mike Adams here.
We're going to talk about all these different forms of gold and silver today.
Let me give you my website, too.
Some of these companies that offer these are sponsors, and we disclose the links and the sponsors and the discount codes at rangerdeals.com.
So here you can see, like, here's the Prepper Bar sponsor.
Here's our Lab Verified Goldbacks.
Sponsor or affiliate.
And then if you scroll down, this is our Treasure Island Coins and Precious Metals company.
And let's start over here with this pile of silver spoons and stuff.
And yes, you could trade these in some kind of Barter situation, but it's not a format that is easy to know how much it's worth.
Next to that, we have so-called junk silver coins here.
These happen to be dimes.
This is also called constitutional silver.
But this is another form of silver that can be very popular.
You can get these from our sponsor here, which is the Treasure Island Coins and Precious Metals Company.
Then you've got silver bars here.
So this is.999 silver bar.
I don't know, that's a pretty big chunk of silver right there.
It's a way to store bulk silver.
So not such a great form for everyday commerce.
Next, we go to silver coins.
So these are one-ounce silver rounds.
They're quite beautiful and easily recognizable.
These are available from different mints all over the world.
If you want to get these coins, also, you can go to the Treasure Island Coins and Precious Metals Company.
They are a sponsor of ours, and you can check their prices in real time.
They've got them available. Insured, discreet delivery straight to your door.
Now, then the next one, this is the newest one.
These are the prepper bars right here.
So these are designed to where you can just break off a chunk like this.
So it's divisible, right?
And these Prepper Bars come in this format.
It's a plastic case with a very nice design of the eagles on one side and then on the back it tells you how many ounces.
And so this is available now at PrepperBar.com and you use discount code RANGER. And you'll save 10% off of these bars.
They also are selling gold bars in the same way where you can break them off and make them highly divisible.
So this is useful in a collapse scenario or a barter or a farmer's market, local commerce type of scenario where you need to break down the metal and you need to make it into some kind of recognizable, divisible amount.
That's a good way to do that.
Alright, now, moving on, then we have gold coins over here.
Obviously, these gold coins are worth, you know, a couple thousand dollars each, a little bit more.
One ounce gold coins, but again, hard to break down, because how do you chop one into a thousand pieces?
The answer to that is these, gold bags.
And each one of these has one one-thousandth of an ounce of gold literally in it.
It's embedded in the bill.
And these are available at verifiedgoldbacks.com.
So goldbacks make gold divisible, tradable.
Again, if you want to know our sponsors and our sources or affiliates in this realm, go to rangerdeals.com and you can see a lot of other special deals that we have for you.
Just go to rangerdeals.com.
And you'll see what we have available for you, the discount codes we've put together.
Thank you for your support. Take care.
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