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Feb. 18, 2025 - Health Ranger - Mike Adams

01:04:12

Andy Schectman joins Mike Adams to reveal Trump’s historic GOLD MOVES...

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	All right.
	Welcome, everybody, to today's Emergency Global Gold Scarcity interview with our favorite guest on this subject, Andy Schechtman.
	And you won't see me.
	I don't have video today because I'm not in the studio.
	But we can see Andy, who's much more interesting to look at anyway.
	So thank you, Andy, for joining me today.
	Yeah, I don't know about that, Mike.
	But it's great to be here.
	It's always an honor to be here.
	I follow everything you do and always excited to come back and chat with you.
	So thanks for having me.
	It's an honor to have you on.
	And I will say that not only were you ahead of the curve by years on alerting people to what was happening with the formation of BRICS, and I want to ask you about that since Trump is obviously trying to sort of separate Russia from China.
	We'll talk about that.
	You're also ahead of the curve.
	You must do a ton of research every day.
	You're ahead of the curve of understanding what's happening with this gold and silver situation.
	And let me start with this.
	I'll hand it over to you.
	Clearly, the tariffs are just a cover story.
	So take it from there.
	What would you say is happening?
	First of all, thank you for the kind words.
	And I do.
	I spend, you know, in high school, I hated studying, like all kids do.
	I wanted to go play baseball and hang out with girls.
	As I've gotten into this profession, the last four years in particular, I've been doing this for 35, but the last four years speaking publicly and doing it this way on shows like your own, not only is it a necessity to be well-informed, but I enjoy it, and I do.
	I spend two, three hours a day, every day, reading, scouring the planet, looking for information, and trying to connect the dots.
	And so what I'm going to say...
	At the beginning of this is that, look, I'm not sure what the endgame is.
	But this approach that we're going to talk about, what's happening on COMEX and the LBMA, what's happening with gold repatriation, a scramble, if you will, by the most well-informed traders in the world to accumulate gold, is something very different.
	And it actually seems more heavily focused on American interests.
	But very different than anything I've ever seen.
	You know, over the last several years, I was fond of saying it's too stupid to be stupid, that there are things that are being done by the previous administration that seem to drive or push us towards an intentional collapse of the dollar.
	That might be what we're seeing right here, too, mind you.
	But the difference is that the Biden administration, who was weakening the dollar, had no clear replacement plan.
	Aside from a digital dollar, we talked a lot about the number two in charge at the White House in terms of economic policy, Lael Brainard, who helped design the CBDC while working at the Boston Fed with MIT. That was the path that it seemed we were following, a path of destroying the dollar, resetting the system, and issuing this surveillance state digital CBDC, which we seem to be moving away from.
	Now, I would still argue...
	Trump is the master of reorganization.
	He understands when a company needs to file bankruptcy.
	He arguably understands that's the fate that we have in front of us.
	I'm not saying it's not, but his plan, what I see when putting these together, seem to be far more focused on American Yeah, so look, the bottom line is, Mike, I don't know how this all plays out, but something big is happening.
	And we'll jump into that.
	And, you know, it centers around revaluing the price of gold.
	And I'll just say right out, that is where I'm hedging.
	But let's go back to the beginning and see if I can connect all of the dots.
	And stop me if you have questions.
	Well, yeah, but hold on.
	Let me stop you at revaluing the price of gold because I think the last time...
	There was any official valuation, wasn't it, like $47 or something crazy like that?
	$42.22.
	Okay, $42.
	And in the United States, that is.
	Now, all throughout Europe, it's valued at $35 an ounce.
	That's the old Bretton Woods price.
	And I guess they revalued it here in the United States shortly after Nixon closed the gold window in 1971, and it went from $35 and kept moving, revalued by the market.
	Then I'm sorry to interrupt, but let me ask you two questions about this, because if they were to revalue gold at current market price, you know, mark to market, right?
	Explain to us what that would do in terms of helping Trump balance the budget or free up assets or what have you.
	But also, there's this other conversation about possibly...
	Partially backing the dollar with gold.
	And that would value it at a much, much higher price if that were to happen.
	So please talk about these two scenarios, if you would.
	And they're not exclusive of each other.
	Like, one could happen first, and then the other one could happen.
	But what do you think?
	Absolutely.
	This is Judy Shelton's book, A Good is Gold.
	I interviewed her not too long ago.
	She was Trump's selection in 2016 to run the Federal Reserve, although not confirmed.
	She advocates for issuing 50-year treasuries backed by gold.
	In fact, maybe even shorter-duration treasuries backed by gold, deliverable at the end of the period, with stable coins issued off of them.
	And she has told me that she believes that Trump will issue them July 4th, 2026. The 250th year anniversary that they've discussed this a lot.
	And quite frankly, I wouldn't be surprised if she is his nominee again to run the Federal Reserve or at least be on the Board of Governors.
	So look, to your first question, Mike, revaluing gold would not magically erase the debt, but it would make the country's balance sheet look a lot stronger.
	It would provide financial flexibility.
	It would boost investor confidence.
	And if done the right way, it could be a key part.
	Or a part of a bigger plan to stabilize the economy, move away from constant relying on debt to keep things running, to incentivize demand for our Treasury market, which has been, you know, as we know, waning, to say the least, as much of the countries who have financed our debt have stopped doing so and instead are purchasing gold, which, as we remember, in 2019...
	The ruling by the Bank of International Settlements reclassified gold as the only other Tier 1 reserve asset next to U.S. Treasuries.
	Many of these countries have chosen gold because it has doubled the performance of the 10-year Treasury for 25 years, carries no inflation or default risk, and cannot be sanctioned.
	And it has no counterparty risk.
	I really want to underscore that.
	It does not rely upon someone else.
	To make good on their obligations.
	No counterparty risk is a big deal.
	So let's talk about what's happened recently.
	My whole career, Mike, everyone always said that the gold is flowing from the West to the East.
	I mean, I've been doing this 35 years, and that was always the statement that the United States is a net exporter of gold, and everything gets sent to China where it never comes back.
	Since November...
	Right?
	And it's interesting because Trump didn't take office until January, but he won in November.
	And before I say that, look, when gold was revalued Tier 1 in 2019, two years before that, we saw the Bundesbank make a very public declaration after a few years of trying to get their gold.
	They put an article in the Wall Street Journal, give us back our damn gold, is more or less what they said.
	And then shortly after that, within a few weeks, the central banks of Poland, Hungary, the Czech National Bank, the Dutch National Bank, the Bank of Hungary, the Bank of Turkey, all of these banks that give us back our gold, too, from the Bank of England and the New York Fed, which always has given direct access to the LBMA in London and the COMEX in New York.
	And at the same time, they started buying gold.
	That next year, 2018...
	After six years of being net sellers since 2011, when the price started falling, they all started getting their gold back home in their own possession and then buying in 2018. Those same banks who repatriated their gold bought more gold as a group than they did in the 60 years previously combined, and those numbers were doubled the following year.
	And then miraculously, gold was reclassified Tier 1, the only other Tier 1 asset next to Treasuries.
	That they didn't know, they being the central banks, all part of this club, I believe, is silly.
	They knew.
	They were told, get your gold, start buying it, things are coming.
	Now, I would argue the same thing has been going on all along.
	The central banks have been buying gold at a level no one has ever seen before.
	But when we look at what's happened since November, Trump wins.
	And he hasn't taken office yet, but since November, the United States has become...
	Wait, what do you mean he hasn't taken office yet?
	Pardon me?
	What do you mean he hasn't taken office yet?
	I meant in November.
	He's taken office in January.
	Sorry.
	But in November, when he won the election, hadn't taken office until January, the United States becomes a net importer of gold.
	In other words, he started talking to his people, I would say.
	Yes.
	The news started to get around, start bringing home.
	The gold.
	Now, the theory is all around tariffs, as you said at the onset.
	That's not the case, as you said at the onset.
	We'll get into that.
	But since November, between 12 and 13 million ounces of gold and between 40 and 50 million ounces of silver have moved from London to the United States vaults based on this perceived threat of tariffs.
	Now, as far as silver goes, he'll never tariff silver.
	Never.
	Because we're in a structural deficit.
	80% of the silver that we need for manufacturing, we import.
	Not going to happen.
	And I don't think he'll tear off gold either.
	But if he told the world what I believe his real intentions are, they wouldn't release it so easily.
	This is just a game of back and forth.
	It's called exchange for physical, where the contracts in New York are very fungible, and they can be exchanged to London for money.
	And London sends the gold to the United States.
	It's a back-and-forth game between these banks.
	So since November, we've become net importers and have imported between 12 and 13 million ounces of gold and between somewhere in the neighborhood of 40 to 50 million ounces of silver since November.
	JP Morgan, as an example.
	For the February contract is set to deliver $4 billion worth of gold.
	It would be one of the largest shipments ever in the history of the COMEX market.
	And JP Morgan, Mike, their former head trader on their gold desk, Blythe Masters, has publicly said, and you can find it on YouTube, that JP Morgan does not purchase for the bank itself, always for a customer.
	Who's got $4 billion to buy gold?
	Yeah, good question.
	You start to wonder.
	And when we talk about just how big this deal is, when we talk about the February contract, 59,296 hundred-ounce gold contracts stood for delivery on the February gold contract.
	That far surpasses the previous record of 47,132 contracts.
	In other words, 12,164 contracts more, over a million two ounces.
	Of gold, more than that, than the largest ever happened in February.
	That's 5,929,600 ounces of gold.
	Try multiplying that times 2,900, where we are basically at spot, and your calculator will say E. It doesn't even know how big that is.
	It's so big.
	So my point is, that's the largest ever standing for delivery on a contract ever in the history of the COMEX market.
	For the February contract, 47,132 was the previous, 59,296 in February.
	And then for silver, 13,735,000 ounces stood for delivery in February.
	These are numbers that the COMEX market has never seen before.
	Okay, so now, I mean, we can do the math on this.
	We can figure this out, right?
	We just need a bigger...
	But we can figure it out.
	But the overall picture that you're painting here is, and I'll be the one to say this, not you.
	This is my opinion.
	I think the Bank of England has over-loaned out too much gold and it doesn't have it.
	So we're talking about fractional gold reserves, but fraud.
	Like, fraud, because they claim to have the gold.
	They made loans on the gold.
	They didn't have it.
	People are demanding delivery.
	The Bank of England, in particular, and some other organizations, it looks to me, Andy, like they're going to default on delivering the gold.
	And right now, there's a panic to borrow gold.
	You know, the monthly interest rates for borrowing gold are skyrocketing beyond belief.
	Yes, they are.
	Just says, well, we don't have the gold.
	Well, we could argue they already have defaulted.
	I mean, the delivery time on the London market is T plus one, meaning trade is T, trade day, plus one, the settlement day.
	So you do the trade on Monday.
	One is Tuesday.
	That's the settlement day.
	You're supposed to get your gold on Wednesday.
	They're running between six and eight weeks for delivery.
	So it's T plus eight weeks.
	That's the default, as far as I'm concerned.
	Yeah, the metal's not there.
	To paint a picture, it's easier to see it with silver than with gold.
	But it's just almost as egregious with gold.
	But with silver, they have 800 million ounces of silver in the London vaults.
	800 million.
	Of which, they tell us, 500 million belong to the ETFs.
	So that leaves a float of 300 million ounces.
	They claim, on final settlement numbers, to trade 2. 9 million ounces on average of silver per day.
	In essence, the entire float every single day.
	However, they say that those numbers, excuse me, 290 million ounces of silver per day, the entire float.
	They also say that those numbers are at least 10 times understated because they only post the final settlement numbers, not all of the trades that are happening throughout the day.
	So that, in essence, would be...
	2.9 billion ounces of silver per day.
	That's three and a half times annual global mine supply every single day, of which 90-plus percent of those contracts are naked short, meaning nothing standing behind the short contract but the bank's checkbook.
	Those Western banks are short between 4 and 6 billion ounces of silver with a bean, and you hear me say between.
	The LBMA is an over-the-counter market.
	It's not an exchange like the COMEX. So there's far less in the way of transparency and regulation.
	But every one of those contracts has a delivery side to it.
	And if everyone stood for delivery, there is a huge problem.
	Now, there are rumors out there that I can't substantiate that the American banks are actually net long.
	It's the European banks that are net short.
	Now, I can't substantiate that.
	But if that's the case...
	They're setting up to blow up the Bank of England in a very, very big way because on gold, they're trading about two to two and a half times annual global mine supply every single day, of which 90% is naked short.
	So all of these people standing for delivery, yeah, we're just really backed up with delivery time right now.
	So six to eight weeks.
	I know it says T plus one, but we're actually more like a T plus 56. That's a problem.
	Andy, so what you're saying is actually very consistent with what I believe Trump is doing.
	I think Trump is at war with the city of London and the Bank of England, and he's clearly about to throw Western Europe to the wolves in trying to befriend Russia.
	Do a deal with Russia, have peace with Russia, and try to peel off Russia from China.
	I think, and I want your reaction on this, I think Trump is going to end the sanctions on Russia.
	He's going to unfreeze the $300 billion of Russian funds, or at least he's going to try to.
	He'll have to strong arm a bunch of European lunatics in order to make that happen.
	I think Trump wants to do trade and deals with Russia.
	He wants to lower the price of energy in order to...
	Boost the U.S. economy and also decrease the energy revenues for Russia.
	He'll make Russia the friend and then he'll try to turn Russia and the world against China, which is the far bigger threat like geopolitically, technology, AI, all that stuff.
	What do you make of that analysis?
	I think it's plausible.
	I see the logic in it.
	I don't know how close Xi Jinping and Putin have become.
	Yeah, I don't either.
	I think that would be the beginning of the right thing to do.
	Look, the BRICS nations became a thing largely because of the way that they were treated by the West, the strong-arming, the sanctions, and I think going after them with a stick is...
	Is not the answer.
	In fact, saying that they're going to impose 100% tariffs on them is not the answer.
	And that's not a tariff.
	That's a sanction.
	I agree.
	So yes, I would be all for it.
	If the BRICS broke up, fine.
	I'd be all for it.
	If we had a world that was safer for our kids to grow up in, and this path that we have been led down over the last four years was...
	A very frightening one.
	If you have children and grandchildren and the world that they were growing up in, God help us, had the previous administration won.
	And thank God for Trump.
	I mean, look, he has reignited what it means to be an American.
	I mean, I come from nothing, Mike.
	And my family started this company 35 years ago in an office the size of a closet.
	We are a byproduct of meritocracy.
	We are a byproduct of outworking the competition.
	And I'm all for what he's doing.
	Well, see, I think Biden really wanted to destroy the dollar and destroy America.
	Trump is trying to save the dollar, clearly.
	Is it too far gone?
	I don't know.
	But let me mention this.
	So talks between Russia and the U.S. are going to happen in Saudi Arabia, pretty much a neutral place.
	That's a big deal.
	And I also want to...
	I just want to mention, because I didn't give you credit of your company, milesfranklin.com.
	I want to mention your website, milesfranklin.com, and also just ask people how they can reach you if they're interested in gold and silver.
	Can you give that information?
	Yeah, the best way to do it is to send us an email at info at milesfranklin.com.
	And although you're always very quick to point out, and I respect this about you to the nth degree that...
	We're not paying you anything and you aren't sponsoring us or vice versa.
	I'm honored to be on your show, period.
	And for those who do want information, our price list at info at milesfranklin.com and just put Mike Adams sent me just so we know where you came from.
	Our price list will be as good or probably better than every company in America.
	And there's a million reasons why I don't post them online.
	But send us an email and we will, with no obligation, whether it be questions you've heard on this show or just want the price list or any other questions you have, send it to you with no obligation.
	Info at milesfranklin.com.
	Appreciate that.
	I think that's wise.
	Yeah, that's kind of like a VIP price list.
	And let me mention, too, in an honest assessment, coming out of, you know, gold goes up when there's more insecurity in the world, when there's more war.
	When there's more chaos, if Trump and Russia sign a peace deal, I would expect on that day, gold would go down substantially on that day.
	Now, it's going to bounce around.
	The long-term trend is up, up, up, obviously, in dollars, which dollars keep losing value.
	But isn't it true that, you know, we don't hope for war.
	I hope there's peace with Russia.
	And if gold drops $50 that day, I'm thrilled.
	You know what I mean?
	I completely do know what you mean, and I'd be thrilled as well.
	I mean, I could argue gold is not an inflation trade.
	It's an uncertainty trade.
	And you could certainly say that the uncertainty poking the bear the way that we have has certainly led to a lot of that.
	But it's also, you know, like I was saying, it's great to see change.
	I've done two interviews with Cash Patel, smartest guy I've ever talked to.
	You're right up there, Mike, but this guy's a genius, and he looks right through your soul.
	What better guy to bring into the FBI? I mean, and the electoral system, the judicial system, the healthcare system, everything that we've all really been bummed out about as Americans, as people who grew up when we did in the 70s and 80s, you look at the world and say, what the hell's happened to my great country that...
	Gave me so many opportunities.
	And to see that stuff come back is heartwarming and inspiring.
	And I kind of likened it to the Shawshank Redemption where Andy Dufresne had to crawl through two miles of crap to get to the other side.
	And I think we still have to do that from a monetary and fiscal standpoint.
	So no matter how euphoric we all feel about reestablishing our culture and getting, you know, civility and law and order back and...
	These types of things, which are quite important, we have been led down a path and more or less crossed a Rubicon that's very difficult to come back from, and that is crossing the 100% debt to GDP level nearly at 125. I don't know that a country's ever come back from 130. And we're right there.
	They either hyperinflate or outright default.
	We have been creating $100,000 worth of debt per second, 24-7, a trillion dollars every 100 days.
	And Doge had just came out and said, look, you know, we probably will be lucky to do a trillion in savings, not the two we had aspired to.
	But the thing of it is, is that you have to stop spending.
	Trump won't touch Medicare or Medicaid.
	He won't touch Social Security.
	The spending is an issue.
	The Congressional Budget Office said, even with a balanced budget, the interest on the debt alone by 2031 would encompass 100% of tax receipts, that and Medicare and Medicaid and Social Security, the mandatory entitlements that are off balance sheet, which would mean, how can a country like ours retain its power of being the military superpower of the world when military spending is discretional?
	And it's not mandatory.
	And so we have to borrow that.
	Even if he cuts off a trillion plus, he still is going to have a trillion per year in deficit spending.
	You come in at 36, you leave at 40, 41. It's very difficult unless we make those very difficult decisions.
	Now, there are things that they can do, which we're going to talk about in a moment, which will help that considerably.
	But the bottom line is that from a monetary standpoint and years of fiscal irresponsibility at zero-bound interest rates have created some big hurdles.
	That we have to get very creative in order to get past.
	But there is reason to be optimistic.
	God willing, he puts these things in place that give us the ability for our kids to look at their future with hope and with optimism.
	And for that, father of three kids, that makes me happy.
	Yeah, indeed.
	I have a sense of optimism for the first time in many years, even though we're still facing a really big...
	It's a massive financial problem.
	So let's talk about that.
	So what Elon Musk and Doge are doing, we're all thrilled about it.
	It's all mind-blowing how much waste and fraud has been found in USAID. And Elon wants to now do a live streaming walkthrough of Fort Knox to see if the gold is really there.
	That would be interesting.
	But it's still just rearranging the deck chairs on the Titanic, the numbers that they're talking about.
	You've got to start talking trillions, right, to get this spending under control.
	Trump just proposed cutting military spending in half.
	So we could say roughly that could save half a trillion a year.
	And then you talked about the issuance of long-term 50-year treasuries redeemable in gold.
	Well, I believe that plan is also part of the so-called Mar-a-Lago Accord.
	And I believe that Trump is going to use tariffs to try to strong-arm other countries into converting their 10-year treasuries into 50-year treasuries, right?
	And then that could drastically reduce the debt service cost annually, paying out on lower interest rate 50-year treasuries.
	So in that way, he could reduce possibly, I'm just guessing, another half a trillion.
	But even cutting those two things, that's still only a trillion dollars a year.
	If you end the IRS, which we're all cheering for, well, then, you know, you lose about $3 trillion or so in revenue, which I still think is great because I think taxation is theft.
	So what, I mean, you can't touch social, like you said.
	You can't touch Medicare, like you said.
	You can't touch federal pensions.
	Is it the only way out of this to effectively, you know, hyperinflate, devalue the currency and pay it off with devalued dollars at some point?
	Well, that's the path that they've always chosen, and even revaluing gold would kind of lead us down that path.
	But to your point, we have over $28 trillion in U.S. government bonds that mature by 2028 in three years.
	So we're taking in under $5 trillion a year in tax revenue.
	For three years, that's $15 if you're lucky, a little less.
	And we need to come up with $28 just to cover the bonds.
	That are maturing.
	That doesn't take into account the next three years' worth of deficit spending.
	At the same time, foreign demand for U.S. Treasuries is declining.
	That means the Fed has to intervene at some point.
	That's why Marco Rubio came out and said within five years the U.S. may not even have the ability to impose sanctions anymore due to reduced dollar dominance.
	But what we see happening with the rapid repayment Repatriation of gold suggests a strategic shift towards something else, like monetization.
	Before I mention that, I just want to mention one other piece to this puzzle.
	So, you know, I always found it grotesque that J.P. Morgan, who paid the largest fine the Justice Department ever issued out at that point a couple years ago, $920 million.
	For manipulating the metals market was allowed to continue to be the custodian of the world's largest silver trust, SLV. They and BlackRock.
	Never made sense to me.
	That year, in fact, they were fined $920 million.
	Their desk, the traded metals, made a billion.
	So they walk away up $80 million, have a little slap on the wrist, but they're still allowed to be the custodian of the largest silver trust in the world, along with other ETFs.
	Well, somewhere not too...
	Far from November.
	I don't know exactly when it happened, when we started becoming a net importer.
	Ironically enough, J.P. Morgan took over from HSBC Bank, J.P. and BlackRock, as custodians of GLD. Now you have GLD and SLV, two of the largest stockpiles of metal in the world, held by...
	JP Morgan.
	JP Morgan in two vaults, one in London and one in New York, hold more gold than the majority of the G20 countries.
	Now it belongs to the ETFs, but people have asked me forever, you know, like Roosevelt confiscated gold there and then devalued the dollar by 40%, making gold worth 40% more just like that.
	This has happened before.
	So let's just get that out there, this concept of gold revaluation.
	And by the way, how many people know this little tidbit?
	Gold on every balance sheet across the globe for central banks.
	The name of the account that it's held in?
	Can't make it up.
	The gold revaluation account.
	That's the name of it on the central bank balance sheet, including our own central bank balance sheet.
	So now J.P. Morgan is the custodian of these two massive funds, and it's interesting because as, remember, J.P. Morgan is set to deliver $4 billion in gold to the COMEX. One of the largest deliveries ever.
	So they're very active in this.
	This is for the February contract.
	But one of the things we've heard a lot about, and this is the media, you know, I have some very well-read friends that just read the wrong stuff, and they're completely misled and misdirected by the mainstream.
	And the mainstream's narrative is usually very wrong, as it is here, where we've seen 16 tons of gold exit GLD. As the price of gold has been climbing and climbing and climbing and climbing.
	Now, the conventional wisdom, if you're watching CNBC is, well, these are ETF outflows because of...
	Stronger interest rates, stronger dollar, profit-taking, playing the Trump trade and NVIDIA and Bitcoin and Apple.
	No, that's not what it is.
	That's what they want you to believe because the public would never want to hold something like gold, right?
	Well, instead, what it is is if you look at the GLD prospectus or SLD, You cannot pull the medal out.
	You have to be an authorized participant who funded the basket to begin with.
	Big, big players, huge players, who have the ability to withdraw it in copiously large amounts.
	My feeling is that this is a far deeper shift in the whole financial system, and the big players are cashing out through share redemption before potential exposure to this.
	And what do I mean by scheme?
	Let's use SLV as an example.
	SLV right now has a short position in it of, what is the number?
	Right now has a short position of 953 million ounces of silver.
	You are actually allowed to naked short these ETFs, which is the dumbest thing ever.
	It's as dumb as a mud wall.
	So just a couple of points on this.
	The borrowing fees to borrow the shares to short SLV have gone from 0.5% a few weeks ago to 12% in just a few weeks.
	A 24-fold increase.
	Not good if you want to short this or to buy back your shares.
	And the number of shares that were available to do so were at $10 million a few weeks ago.
	They're now at $10,000.
	That's a 99.9% reduction.
	953 million out short position.
	This is setting up for a historic short squeeze.
	And again, you know, how much of that is the European traders that are involved in this?
	I don't know.
	But the rumor is that the U.S. banks have gone net long to, as you were saying, go to war with the Bank of England.
	This would be a way to certainly do it.
	So things are rapidly changing.
	And then we look at the last piece of the puzzle.
	And as you mentioned, you know, Judy, she wants to issue 50-year treasuries redeemable in gold.
	And I talked with her about the fact that...
	Fort Knox hadn't been audited.
	She says it's the dumbest thing ever.
	She said they say it costs too much money and logistically challenged.
	And she said, well, the United States, for goodness sake, just spend the money and do it.
	Well, now it appears as though they're doing it.
	I asked her, I said, Judy, do you know its goal is held in the revaluation account?
	That's the name of it.
	Will it be revalued?
	And in a very roundabout way, quite articulate, she said yes, that she believed that it would.
	Be revalued to a much higher level.
	And then we get to Scott Percent, whose largest holding is of gold, who just recently said we're going to monetize the asset side of the balance sheet.
	Wait a minute.
	Percent, I'm sorry, but his largest personal holding is gold, correct?
	Yes.
	Like, he himself holds.
	As a personal investor.
	Right.
	And he said, we're going to monetize the asset side of the government balance sheet.
	Well, if you look at it.
	We have about $5 trillion in assets backing $200 trillion in liabilities, both on and off balance sheet.
	The largest asset is student debt, about 40-plus percent.
	Not going to monetize that.
	The second largest asset is military.
	Bases, bullets, guns, etc.
	Not going to monetize that.
	You could monetize land.
	But how about gold held in the revaluation account?
	Wasn't it Senator Loomis, Cynthia Loomis from Wyoming, who advocated for revaluing the gold, held in the gold revaluation account?
	Yes.
	In order to fund the strategic Bitcoin account?
	We've heard it from the head of the Dutch National Bank and members of the Bundesbank for the last three years.
	Let's revalue the gold held in the revaluation account to offset our liabilities with this asset that's still valued at the Bretton Woods number.
	You put it all together, Mike, and everything that you look at, I look at, tier one, net importer, Massive, massive, massive deliveries.
	JP Morgan taking over custodianship of GLD, already custodian of SLV. Massive delivery delays of eight weeks coming out of London.
	Scott Bessent talking about monetizing the balance sheet.
	Judy Shelton talking about issuing 50-year treasuries backed by gold.
	And Trump shaking things up because we are at a point where we're in a debt spiral.
	Things need to happen.
	And I think the Trump tariff ruse is specifically engineered so that the countries would relinquish the gold without saying, well, wait a second.
	You know, if we don't ever get it back, there's going to be a problem here.
	He's doing it as a cover for his real intention.
	And that would be my guess, because these are things that are so far outside of anything anyone's ever seen in COMEX or the LBMA. An outlier is an easy, very Doesn't do it justice.
	This is a four feet of snow in my backyard here in Delray Beach in July.
	Doesn't happen.
	It's an outlier.
	And so I'm saying, while I don't know how it all plays out, they're setting up for something much bigger than just tariffs.
	All right, Andy.
	Outstanding analysis.
	You've laid out this trail of more than crumbs, data points that clearly begin to paint a picture that Trump wants the gold in the U.S. He wants it there for a purpose.
	He's clearly trying to save the dollar or something, you know, maybe a parallel currency, maybe a new dollar backed by gold or something like that.
	Whatever is happening is truly historic, and clearly it's designed to weaken bricks, to bring those countries back to the dollar, to try to make dollar trade...
	The global standard, again, because that has taken a big hit over the last few years as countries like Russia and China and India and Turkey have been trading in their own native currencies, not using the dollar very much, and Saudi Arabia as well in some cases.
	So let me ask you this, Andy.
	For the people listening, if you understand what's about to happen, if you are on the right side of this historic announcement or change, And I think being on the right side probably means owning physical gold.
	Then you're going to be extremely happy.
	What happens if you're on the wrong side of this and you don't know this is coming and all your savings are in dollars or treasuries?
	What happens to those people?
	Well, he wants a weaker dollar.
	And by letting gold go much, much higher, in essence, you're weakening the dollar.
	So the dollar will lose ground.
	Inflation will accelerate.
	We're at that point where there is no easy way out of this.
	And I would say if governments and central banks are hoarding gold the way they are, what does it really tell you about the future of fiat currencies?
	I think that should be front and center.
	I think the bottom line is simply this, that the most well-informed traders in the world are scrambling and scurrying to get a hold of physical metal in their own possession.
	No counterparty risk.
	I think that should be front and center as well.
	You do not see them...
	Running to gather other assets.
	It's a rush to gather this.
	And I would say, on top of that, when you look at the insider selling in terms of the market, it's six to one selling versus buying.
	The insiders are selling.
	All of the metrics that we would use to gauge if a market is overvalued are screaming the market's overvalued.
	So I would say now is the time to focus less on the Trump risk on trade, focus less on return on your money and more.
	Return of your money.
	That's the most important thing right now because people will get caught up in this euphoria and largely rightfully so, but it will lead them down the wrong path in terms of their own personal finances.
	I would distance myself from traditional assets if I had a big profit in any of the Magnificent Seven or in anything that is traditional or even crypto.
	Take profit.
	It is not a four-letter word.
	Leave your initial principle if that's what you want.
	Put some profit.
	Take it off the table.
	Put it in real money.
	Because these traders that are doing this with gold and silver are not just the most well-funded, they're the most well-informed traders on the planet.
	And they don't just do things like this for the hell of it, Mike.
	They're doing it because they know what the ultimate outcome is.
	And one other point to your point about BRICS, you know, here again, I don't know if he's going to him and saying, look, I respect your right to want to continue to forge other relationships.
	Even though he's saying the bricks are dead, by revaluing gold, you do play right into the hand of all of the countries that have been accumulating gold the way that they have.
	So it's not as easy in black and white as you would think, but I think what that would also entail would be perhaps more cooperation between these countries.
	I guess, look.
	All I can say is this, and that's why I said it at the onset.
	I can't see past the wall.
	I don't know how it all plays out.
	I will just simply say this.
	This is a once-in-a-generation move to get on the right side of the trade because everything I see right now is screaming.
	You need to have gold and silver in your own physical possession.
	And I think the way that they get around confiscating gold that Roosevelt did to have enough gold to back the Treasury market with and to usher in a new system.
	Remember, every $4,000 increase in the price of gold gives the Treasury General account $1 trillion free and clear.
	And the unit settlement token that Del Marussoff, the former president of Brazil and the head of the New Development Bank, came out and told us they've agreed in principle to a 40% gold backing of their new unit token.
	Well, that's what the Swiss franc was, 40%.
	That's how guys are getting to $12,000 per ounce of gold, by taking M1, the amount in M1, and dividing it into the number of ounces held at Fort Knox, and you get about $12,000 an ounce of gold.
	Is that crazy?
	Not really.
	I mean, it wouldn't even require that much in the way of congressional approval.
	Trump, tell Scott, tell Jerome Powell to revalue gold and bang.
	It's revalued.
	And we just tell every country on the planet, you want to sell us your gold for $12,000?
	Deliver it to the Treasury.
	And it's done.
	That is the price if that's what they're willing to pay.
	And if we did get to a level like that, it would never come back down because it's pegged to a new system.
	Yeah, that's 100% backing there.
	That would be 40%.
	Oh, that would be 40%.
	You take a M1 number and do the 40% of it divided into the ounces, you get 12,000.
	Ah, okay.
	So 100% would be more like 25K or something like that.
	Yeah, it would be.
	But, you know, look, if they wanted to push it up to 145,000 an ounce in a world where Bitcoin is 100,000, why is that so crazy?
	I'm not saying they're going to, but if they did, it would render our balance sheet completely and totally.
	Neutral from assets and liabilities.
	Then you get to the Mar-a-Lago Accord.
	And if I read that correctly, what he's telling many of the countries of the world is if you want our protection, you're going to take 50-year treasuries with zero coupon.
	And you are going to then, if there's Article 5 from NATO, will be there to protect you.
	If your ships are being attacked in the middle of the Red Sea, will be there to protect you.
	If not, you're on your own.
	And that's his way of, I think, paying down.
	Just leveling gold up to a level high enough to offset your liabilities doesn't get rid of the liabilities until you sell it.
	Well, I think he's looking for other ways, including cost savings and spending cuts on top of charging for protection, kind of like a fee, if you will, for the U.S. Navy patrolling the seas.
	And that's his way of paying down the debt, amongst others, like the Bitcoin account and whatnot.
	But interesting times, to say the least, man.
	Isn't that the truth?
	Let me state, though, too, as a disclaimer, I haven't included this to our audience, what Andy and I are talking about here.
	We are not your investment advisors, right?
	So do your own research, make your own decisions, and understand that we're talking about...
	Events that have never happened in the history of this nation, the signs are pointing in this direction.
	Neither one of us are certain how this is going to go because we don't have the high-level classification clearance.
	But somebody knows.
	And I tend to think, Andy, that really wealthy people know because, Andy, you and I both know a lot of wealthy people.
	Just from the business that we're in, right?
	Influence and metals and everything.
	And every wealthy person that I know is accumulating more metal.
	And they're not accumulating dollars.
	They're dumping dollars and buying metal.
	And you figure, well, these people probably became billionaires by getting things right when it comes to money, right?
	And that's what they're doing.
	Yeah, I'd agree.
	It's the volume.
	One of the very interesting contrarian indicators, Mike, and I believe a lot in contrarian indicators, they seem to always point in the correct direction more often than not, is that the majority of the public, the majority, is chasing the shiny objects while the most informed money in the world is doing the opposite.
	And to your point, The volume in this industry is way down.
	Therefore, premiums are the lowest I've ever seen ever in my career, yet the number of very large, very, very large orders that we're doing is higher than ever.
	So the volume is the same or close to it in terms of sales, dollar value, but the number of sales is way, way off because most people don't see what's coming.
	And you're right.
	Some of the more sophisticated people who are Maybe run in circles where they're getting more information, at least maybe more fair information, are moving to that degree.
	They're less concerned about profit and more concerned about preservation, return of their money rather than return on it.
	And let's just be fair, gold has done very well.
	It was up 30% last year.
	It's up quite a bit.
	It's up 30% in just a couple of months right now.
	So it's moving in the right direction.
	But most people don't notice it because instant gratification in this country over the last half a dozen years is not fast enough.
	But for the very knowledgeable investor, I think they do see what's coming to a degree there's concern permeating throughout the monetary system.
	But the average person, unfortunately, can't get out of the way of what they don't see coming.
	So, yes.
	It's more about, and that's why I focus on when I say these people are the most well-informed.
	This is all about who knows the playbook, and I think these folks do.
	So I agree with that.
	I remember in 2022 when Russia first attacked eastern Ukraine, that was the first time gold went over 2,000.
	It hit 2050, I believe, the next day.
	And now it's almost 3,000.
	We're almost at a 50% gain in dollars since that war began, which wasn't...
	I mean, three years, let's say, right?
	Three years, roughly.
	Almost exactly three years ago.
	So that's one thing.
	The other thing that really shocked me, I read an article that said that if you take all the available gold in the world, that is, all the gold that's ever been mined, and you divide it by all the people, the total global population, turns out that there's about one ounce of gold per person on the planet.
	Yeah, I saw that the other day as well.
	Right?
	So I'm just thinking to our audience, if you own more than one ounce of gold, You're ahead of the average of the entire population.
	And if you own 10 ounces of gold, you start really moving up rapidly.
	And Andy, let me ask you what you think about this.
	People ask me, how much gold should I own?
	Or how much gold should I get before I start investing in crypto or speculation or whatever?
	And I say, well, look, I'm not your financial advisor.
	But what I suggest to family and friends is if you have the money.
	Own an ounce of gold for every month that you plan to live.
	Because no matter what happens in the world, in the markets, if you have an ounce of gold, you can buy food, you can have shelter, clothing, whatever.
	For an ounce of gold per month, you can get by.
	It's funny you say that.
	The first conference I went to in Switzerland in 1990. There was a man who was retiring from a Swiss bank.
	I think it was called the Mercky Bauman was the name of the bank.
	And the man was very interesting.
	And he said, you know, during my career, I bought one ounce of gold a month or one ounce of gold a week.
	I think it was a month.
	Maybe it was a week.
	I was 20 years old then.
	And he said, now that I'm retiring, I will sell one ounce of gold a week or one ounce of gold a month.
	I don't remember if it was week or month.
	He said, you will never see me begging for food or sleeping on a park bench.
	And that's exactly right.
	I mean, that is certainly one way to look at it.
	I look at gold as wealth that has outlived two world wars, German hyperinflation, the Great Depression.
	I look at it as wealth, not an investment.
	And there's no question that I think we are heading back to a period of time, Mike, where gold will be re-injected into a system.
	And I've said for years, even on your show, and I still believe there will be a marriage between blockchain technology...
	And gold to inspire immutability.
	You heard what Elon just said.
	He said, let's put all of the government spending on a blockchain.
	Oh, yeah, 100%.
	Gold holdings on there and inspire confidence.
	The treasuries, the stable coins, all of these things in order to inspire confidence and immutability.
	That's the road that we have to go down.
	So, yeah, I think it's never been more important to own gold, not to become wealthy, but because it is wealth.
	And the smartest money in the world is moving in that direction.
	And that's the thing about it.
	For that gentleman who would sell an ounce a week to fund his retirement, it's there when you need it.
	Not just for emergency, for opportunities or for being your own bank or your own annuity.
	And if not, there are very few things you can leave for your kids that will be wealth in the year 3000, long after the bill in your billfold right now.
	Is hanging from a frame in the Smithsonian as an example of what used to be money.
	So I've never been more bullish on the reasons to own gold.
	And aside from that, let's just remember, it was reclassified by the most powerful bank in the world as the only other tier one reserve asset on the planet.
	There is something in store for gold.
	Whatever it is, however it plays out, you can see.
	That Trump understands that this is the key and that the previous administration, for allowing the commercial banks to continue to suppress the price of gold, which maybe he's putting a kibosh on.
	Maybe this really is blowing up the LBMA. Maybe it is.
	But that that played right into the hands of the countries who have been sophisticated, coordinated, and motivated enough to stand for delivery.
	To drain the global exchanges.
	I don't know if we have maybe rectified that with these countries and they'll start to backpedal and come away from it or not.
	But I do like the fact that we don't have to be the antagonist always and have everyone around the globe no longer want to do business with this country.
	This is one of the main questions I want to ask you, and we're actually about to run out of time here, amazingly.
	Give us the latest update on BRICS because I believe that Trump is now, you know, he's a strategist.
	He's a dealmaker.
	Clearly, he's going to try to dismantle BRICS. There has been, I think, at least one setback on BRICS or a delay, let's say.
	How is that shaping up right now, BRICS versus Trump?
	Well, you know, I don't think the BRICS want to be open about things anymore.
	They spent four years building Enbridge with the BIS Innovation Hub.
	And at the 12th hour in Kazan, when they're doing their meeting, the Enbridge is operational.
	And this was what Delmarusov said, we will issue the unit over Enbridge.
	And at the 12th hour, the Bank of International Settlements, which is a Western institution, said, no, we can't be involved with something like this with a country.
	That is being sanctioned by the West.
	It's if they just realize that Russia's the iron bricks and pulled out.
	So that is the setback.
	They've changed the name to Bridge.
	But we just saw the other day that Indonesia just became a full member of BRICS. So they're still moving in that direction.
	Indonesia has the largest nickel fields in the world.
	Their president, Wadudu, has called for an OPEC-style cartel of rare earth metals.
	Another 25 or so countries have fully applied to be full members.
	They have eight or nine new observational members.
	They are still moving, and if I had to guess, they will continue to strike deals in local currencies using gold to settle any imbalances and still move forward because, look, Trump won't be in office forever.
	Maybe they are able to, he is able to slow down the progression, but until we get our spending in order, until we prove to the world that we can once again be trusted, That there's rationale for holding our treasuries and for holding our dollars and selling us their goods and services in dollars.
	They will continue to de-dollarize.
	I just think it will not be...
	Because one of the things that really struck me, Mike, was that when they came out with their...
	During the meeting in Kazan, they came out with a recap, more or less saying that they wanted to integrate into the Western system.
	They wanted to be part of the IMF. They wanted to be part of the BIS. They even wanted to be part of the WHO and the United Nations.
	I was shocked by all of that.
	They said, we don't want to fully assimilate.
	We want to assimilate and change the system.
	We want a reworking of the system to integrate fairness amongst us all, not just be...
	You know, Western-centric.
	And then the BIS did this.
	To me, it's espionage.
	It's right out of a James Bond movie.
	And so I don't think it will be in their vested interest.
	To be straight with Trump or anyone else, they'll continue to do it in a much more cloaked way.
	But I would not bank on this being the end of the BRICS. Quite to the contrary, they are growing still.
	In size, in scope, in GDP, in military might, in resources, and in shipping lanes.
	And this can be something that they just continue to do, but keep things closer to the vest.
	It's interesting how quiet it is about it, but it's not over.
	Extraordinary what Secretary Rubio said about all of this, right?
	In five years, that's right.
	Yeah, it's going to be a multipolar world.
	He's saying that.
	And the U.S. can't just maintain this dollar dominance and military dominance over the entire world.
	We can't be the world's police.
	And he implied the dollar can't be the only dominant currency in the world, and we can't just sanction our way into global power.
	To hear the Secretary of State saying those things is astonishing, but true.
	Well, it's honesty.
	And even Trump said it on the campaign trail, that we're losing the world reserve currency, which would be worse than losing any war.
	But, you know, how can you make people want to take a currency that is being inflated away?
	We lie about the inflation numbers.
	Inflation's 11%, not the three that they tell us, ask John Williams of ShadowStats.
	And if you're on the wrong side of the U.S. agenda, like Trump said, we are going to put 100% tariffs on you guys if you keep doing this.
	That is not a tariff.
	That's more sanctioning.
	A tariff is put in place to protect your domestic manufacturing, which we don't have.
	And if he really does want to onshore all this and bring back the manufacturing, you're looking at the Great Depression.
	Because just the cost of bringing all that back, building the facilities, getting them modernized, teaching people and paying the salaries to people in the United States, you're looking at a massive, massive increase in prices and the supply chains will just crumble.
	They won't be as big and robust in a globalized world as they have been in a world that is more...
	Dollar-centric protectionist.
	It's going to be an interesting bumpy ride, and I don't think the BRICS have given up their aspirations, but what I do think is that they realize that they've got to keep a lot of this information closer to the vest and worry less about the West and more about themselves.
	But you're right.
	This is a whole different administration than the previous, and I think there is an amount of respect and patriotage that you have to pay.
	To Trump administration to not get on the wrong side.
	So it's going to be straddling.
	It's going to be less transparent, more opaque.
	But I do not believe that they have abandoned whatsoever their desire to continue to de-dollarize and build the BRICS ecosystem.
	They'll just do it in a different way.
	Yeah, well, exciting times ahead, that's for sure.
	And I want to give out your website one more time, milesfranklin.com, and the email address, I think you said info.milesfranklin.
	Yep, that's the best way to get prices or questions.
	And please put Mike Adams sent me just so that we are able, or you saw me on the Mike Adams show, just so that we are able to keep in our own records where all of this came from.
	And you have my word that we will do all we can to offer your listeners the best price, the best service.
	All of our brokers are very, very knowledgeable.
	Most of them had careers on Wall Street, private equity, Wharton School of Business, etc.
	I've known most of them my entire life outside of business, and I'm honored that they all work for us, as I am honored to be here.
	And, you know, the Chinese curse, may you live in interesting times.
	There's reason to be optimistic, but I'm telling you, I have a feeling, at least as far as the price of gold and silver is concerned, This may be the most exciting year for people who hold metal than anything we've ever seen.
	And the last four years have been crazy.
	Well, I've said, Andy, people ask me if I'm optimistic or pessimistic about the future.
	And I've said I'm very optimistic for people who own gold.
	And I'm very pessimistic for those who don't.
	I mean, this is going to redefine who is wealthy, I believe.
	If you have gold, you're the new wealthy or maybe the old wealthy that made it across the chasm.
	If you don't own gold, you're the new impoverished because you're sitting on dollars that won't buy anything.
	Well, and the worst thing you can do is think you own gold by having it all in GLD and SLV, which, in my opinion, will be the way for them to scoop up the lion's share of all that gold and silver held by the criminal cartel bank that has been the one to suppress it for all of these years, who paid the largest fine the Justice Department ever handed out.
	For suppressing the price of gold and silver, and they can look the world in the face and say, we didn't make it illegal.
	We didn't activate eminent domain.
	The prospectus gives us the right to do it.
	If you're in one of those funds, get out.
	Stop paying the 40 basis point management fee or thereabouts and buy the real thing in your own possession.
	Get out of the way of the great taking.
	Get out of the way of what's coming in traditional assets and hold assets.
	In your own physical possession, the way that the central banks are scurrying to do themselves.
	Yep.
	Well said.
	All right.
	Well, Andy, brilliant as usual.
	Thank you for your analysis.
	Thank you for your time today.
	And we'll do this again at some point.
	I hope so.
	Yeah, probably soon.
	It would be more honored to be on your show.
	I know I've said that, but it's true.
	There are very few people like you in this industry who see things as clearly as you do.
	So it is an honor just to be here.
	And I will look forward to picking up where we left off, and we'll see how things play out.
	But if Judy Shelton is right, and he's going to issue those treasuries by July 4th, 2026, we got about 15, 16, 17 months or whatever.
	Before things change for good, what's it going to look like between now and then?
	I have a feeling very interesting.
	Until next time, I look forward to picking up where we left off.
	If gold does go to $25,000 an ounce, I'll send you a few ounces that I'll be happy to let go of in exchange for $25,000.
	You can say you heard it here first.
	And I think, to be honest with you, it's going to go higher than anyone thinks possible.
	I really do believe that.
	Not to entice you to go get wealthy, but so that you understand that this system of a fiat currency that's lost confidence, the only way they get that back is to reinstill confidence through transparency and immutability, and that is exactly what this would be, but it has to be at a higher level, and it's ironic, or is it?
	Coincidental that it's held in the gold revaluation account.
	I would argue it's a little bit more than coincidental.
	It's a plan.
	They know where it's going.
	They know what they're going to do.
	And we're watching it in real time right in front of us.
	Exactly.
	All right.
	Andy Sheckman, everybody, from milesfranklin.com.
	And the email he gave out is info at milesfranklin.com.
	So thank you all for watching today.
	I'm Mike Adams here of Brighteon.com.
	This is not a sponsored show, as Andy said.
	He doesn't pay me.
	I don't pay him.
	We're just helping you with information, and your dogs love the show as well.
	So thank you, Andy.
	Thank you for joining me, and take care.
	You too, Mike.
	Thanks.
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