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March 18, 2025 - Health Ranger - Mike Adams
33:59
David Morgan joins Mike Adams to talk about Shift from Fiat Currencies to Commodity-Backed Currencie
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All right.
Welcome, everybody.
Mike Adams here.
I'm off camera today, but who's on camera and with us is the silver legend himself, David Morgan, the silver guru, as he's known.
Welcome, David Morgan.
It's just an honor to have you on here today.
Well, Mike, it's always a privilege to be with you, so thank you very much for asking me back.
Well, it's just...
I honor you so much, and I've learned so much from you over the years.
Let me just give out your website, themorganreport.com, and you've got some free reports and things to get people started there.
But give us the big-picture overview right now.
You're an expert in silver, but you also talk about gold.
What just happened with the draining of the Bank of England and the mass panic of getting gold in hand in New York?
What was that all about?
It's really a two- or three-part story.
I mean, you know, I have pretty good contacts worldwide.
And so what initially started, some will say differently, but what really started was there was a proposed tariff that would take place.
And this upset some of the metals' heads.
And they decided that they would move metal from the LBMA, which is pretty much a physical supply entity, into the COMEX, which is primarily a paper market 99% of the time.
And to make certain that metal, real metal, physical metal, got moved in time prior to a potential tariff, metal started flowing out of the LBMA in the COMEX.
Well, as that was starting to happen, a couple things took place.
One is There's an arbitrage that would develop between the paper market and the London market.
And if you ship physical from London to New York, you actually captured a small spread.
And when you get a spread, a small arbitrage that something sells for a dollar in place A, and it sells for a dollar and five cents in place B, you can capture that five cents by...
The arbitrage, the difference between the two markets.
But it also is cost.
There's cost to move metal across the edge.
Yeah, and gold is heavy to put on airplanes.
I mean, that's what they were doing was flying it.
Yeah, and so if you have enough of it, that 5%, you know, you might capture 3 or 2.5 cents.
Well, you're talking, you know, multiple millions or, you know, hundreds of thousands, and it's the price of something that's 2,900 per unit per ounce.
It's worth doing it.
So that also moved metal out.
Well, now that those two things were taking place, a third one arrived.
And the third one was that people that were never thinking of taking their metal out of the LBMA started to find out that the metal deliveries were being moved backwards and backwards and backwards instead of meeting the contract requirement of basically a week or so.
It turned into two and four.
Possibly up to eight weeks.
And so that caused a lot of people or entities or nation states or hedge funds, sovereign wealth funds, etc., to say, wait a minute.
If there's taking this long to get metal from the London market into the New York market, I'm getting in line now because I want to make sure that my metal is safe or I really own it or it's in a jurisdiction I trust.
So some of that metal has gone in the COMEX for storage purposes for Sovereign Wealth Fund, for example.
Because when you're talking that kind of metal quantity, some of these countries really don't have the vault space or know what to do with it.
So they trust an LBMA or the COMEX warehouses to store it for them.
I think for the most part, what's reported in COMEX is legit.
There's people in my peer group that disagree with that.
I don't.
Serial numbers are there.
They're stamped.
You get a medallion, which is a certificate.
You know, I think what physically is in the facilities is very, very close to the actual truth.
However, having said that, Mike, I've got to go one step further.
I do believe that that medallion or that certificate that says I own 5,000 ounces of silver is used twice.
I think that that certificate could have the silver resting in Delaware, for example, but also be counted in the SLV.
So in other words, yeah, that medal's there, but it's in Delaware.
That's what it shows in the COMEX warehouse receipts.
But it's also...
On the books of owned metal in the SLV to back it up.
Hopefully made that clear.
Okay, yeah.
So you're talking about the rehypothecation of metals, which has been a big topic here, that it's been over-loaned out on paper or oversold on paper.
And now that so many people are demanding physical, which is all that really counts at the end of the day.
Everybody's in a panic because it's like a game of musical chairs and there just aren't enough chairs for all the people who have a piece of paper that says they own the gold.
Exactly.
And silver's actually been drained as much or more, really, than gold has.
I mean, gold always gets kind of, you know, center seat and, you know, it's the most talked about.
But the amount of silver that's moved out of the LBMA is substantial as well.
So does this...
I'm sorry to interrupt.
But I have one question.
Backing up to the very beginning of what you said in all this, you mentioned tariffs.
But I don't recall any threat of any tariff on gold ever.
Is that just something that people suspect might happen?
Yeah, it was conjecture as well.
What does it cover?
Very vague.
In the vagueness, we'll just be very safe and we'll start moving some metal.
I see.
And then the arbitrage and everything else, as I outlined, took place.
So it kind of compounded, as I said, step one, two, and three.
Okay.
And then it became, uh-oh, now it's almost like a bank run on gold.
It's like, well, how much is there?
And then, of course, interjecting and all that was, we're going to audit the Fort Knox Gold.
And many people that aren't as adept at our community as you are and your listeners is that...
Not all the gold is in Fort Knox.
The United States has 261 million ounces of gold on their books, and 141 million ounces of that is in Fort Knox.
Well, where's the rest of it?
Well, the New York Fed, there's some in Denver, there's some in the Mint, and you add it all up, it comes out to the proper amount.
So if you're really going to do an audit, you've got to do all of them simultaneously.
You don't want somebody shipping metal out of the New York Fed into Fort Knox and looking at it.
Yep, it's all there.
And then, you know, six months later, you ship it out of Fort Knox, move it into the New York Fed.
Yep, it's all there.
I'm trying to be a little funny, but stuff like that does happen.
Well, absolutely.
I mean, Elon Musk was talking about maybe live streaming a walkthrough of Fort Knox.
And, you know, to you and I, David, that doesn't count for anything.
You have to do an assay of the bars and the serial numbers and tracking.
I mean, it can't be a Hollywood set.
No.
And the other thing that I emphasize, and not too many analysts that I know of have said this, location doesn't prove ownership.
Good point.
I mean, look, all the metal that was at the LBMA, I mean, you could walk in there and say, oh, this is a London gold.
You know, it's all sitting in London and kind of like, you know, if you're not thinking deeply, say, oh, yeah, it's all London.
It must be London gold.
But no.
A lot of that gold belonged to Abu Dhabi, a sovereign wealth fund in Asia, somebody in Hong Kong that's wealthy.
I mean, there's all kinds.
So you could put it all in Fort Knox, and does that prove it's Fort Knox gold?
No.
It shows the location of Fort Knox, but unless you go to a real audit and you look in the books and you say, who's who in the zoo?
And this person owns it called the United States Treasury.
And that's the only entity for each bar that you serial number an assay.
Now you know.
But unless you go that deep, you're not really going to know.
You might see the location that it matches.
So what?
And this is really important, Mike, because I'm sure you agree, because this purportedly is wealth of the United States American citizens.
And this is really the foundational...
Money system, even though we've detached from it, it's still there.
It's sort of like, I call it the money of last resort.
And if we really do have the largest, unencumbered, freestanding gold supply in the world, and everything falls apart in the fiat realm, we're still in pretty good shape.
But, on the other hand, if all we have is an IOU, or we swapped it out or sent it to, you know, the Rothschilds Bank or something, That's not a good thing.
Right.
Well, it's really interesting to me that I think what's happening in terms of history unfolding is that there is a shift away from fiat currencies and a shift into commodities or commodity-backed currencies or settlement systems,
such as the BRICS system, or maybe eventually a gold-backed new dollar or a partially gold-backed dollar or something like that, or even state currencies that are backed partially by gold.
Texas is always talking about something like that.
But I did a podcast recently.
I just sent you the link.
I know you'll really enjoy hearing it.
I just want to run this by you.
My theory is that AI and robotics is only going to accelerate this move towards commodities-backed currencies for the following reason.
Because until now, throughout history, all transactions in dollars, let's say, were trading for something that was a product of human cognition or human labor.
One way or another.
Human cognition or human labor is behind everything you buy, whether it's a car or a piece of software or food.
It's all human cognition and human labor.
Now, human labor can be amplified with tractors and combustion engines, etc., but there's still a human involved driving that tractor.
But with the rise of AI and AI cognition now exceeding any one person's cognition, and that can be replicated quickly to do all the cognitive tasks like engineering.
Math, physics, chemistry.
And then coming in the next couple of years, even beginning this year, AI labor or robot labor that becomes a fraction of the cost of human labor.
It's being said that these very capable warehouse robots will cost about $2 an hour versus way over $20 an hour for a human who often doesn't show up and do the job, right?
So my point, David, I'd love your reaction to this.
I know this is a brief version here, is that as GDP goes, well, I'm sorry, as more and more people use AI to do tasks that used to cost dollars, like I would pay an attorney to do something, hundreds of dollars.
Now I can type it into my computer and the AI gives me the same letter, the same, or, you know, gets me out of a parking ticket, whatever.
And so dollars didn't exchange hands for that.
Or I buy a robot, and then that robot changes the oil on my car.
That robot paints my house.
So dollars are not needed in any of those transactions any longer, which means that GDP is no longer a measure of the quality of life that people are getting when they're using AI cognition and AI robots.
And thus, dollars themselves...
Fall in demand domestically because people don't need dollars to get things done.
So that's part of my theory of why AI will lead to gold and silver because it's the only thing that will have value as currency is just printed and not really that desired.
But what do you think about all that?
Well, I think you're right about the trend.
And I'm a deep thinker, so I'd have to think about a little deeper, but it did stir a couple of thoughts.
One is the documentary that we finished filming and we're editing now called Silver Sunrise.
It's at silversunrise.tv.
You can see some trailers from G. Edward Griffin and some of the people that were interviewed for the movie.
But it brings up those very questions like, what is the future of money?
Do you even need money?
Are we moving into a Star Trek society?
And these are very important questions.
And what I look at in the film, I try to hit harder that it's different, I think, than almost any documentary on money that I've watched.
And that is the spiritual side of money.
What's, you know, this attachment where it's such a control mechanism and causes so much hardship and heartache for so many people because they don't have enough or they've got to work two jobs and they're stressed out or they get divorced because the main
I'm trying to look deeper at that.
And of course, what you bring up with AI is, as a lot of these human Dependent functions go away and we take them almost for granted and there's no money exchange.
What does that do?
And I think, and this purportedly came from Einstein, you know, he feared a day when that the technology exceeded the human capacity to be empathetic, something like that.
I didn't get it quite right.
When the technology exceeded our humanity.
And I worry about that.
And that's one of the reasons I made this film.
So I don't mean to go too much on a tangent.
I agree the trend is there.
Where it will end?
Will we go to gold and silver?
I think that exchange of labor or exchange of intellectual property, we really do intrinsically want value for value.
And I think that having said that, if you let the AI determine monetary function from all of history without any bias, it would come to that conclusion.
Problem being is that I'm biased.
So perhaps I'm not being as objective.
Well, but but.
Well, I just got the...
The fast roll of five and six.
I haven't had time to look at it.
I'll look at it this weekend, Mike.
But I think once that's there, then he starts filling in the stuff.
So it's basically like the cuts of the interview with questions we asked.
And then he has to fill it in with, you know, background material, of course, with fair use.
Right.
Some of the movies that have really inspired me, like the movie I Am.
Which talks about, like, I am responsible.
I am part of the problem.
Am I going to own that I am?
There's several others that talk about money and, you know, what it means.
And shift, maybe, of being too greedy to get any more in line with what you need.
And happiness is not determined on the amount of dollars, but more about what you give than what you get.
All these type of things.
I don't want to drone on too much.
But a lot of that's filler because...
One of the main premises of the movie that got my juices flowing, so to speak, is this guy Harold Katzvella.
And he does a film clip that hopefully will be in the movie, the documentary.
And he's speaking at a BASES conference in London, I believe.
And he talks about when the scientists taught apes to use money.
And they taught them within a few weeks.
And after they learned...
What happened just a few weeks after was the boys, the male apes, started to cheat and steal on each other.
And it wasn't like much after that that the females started to process themselves.
And this was something the biologists had no idea would take place.
Wow.
So they decided to take the money away from the apes.
And as repeating Harold Katzville said, bad idea.
Because when the biologists went into the cage to take the money away and stop the experiment, they beat them up.
They didn't want to give up the money.
Wow.
So then he goes on to say, this is a gaming addiction.
This is, I think he even said satanic type of situation.
I might be exaggerating here, Mike.
I'll try to be truthful.
But he did say gaming addiction and that they don't want to give up this gaming addiction.
And he goes, the whole idea is scarcity.
We don't have enough.
I got to hoard it.
I've got to hold on to it.
I'm never going to get enough.
And I'm not enough.
And all these things that revolve around this idea of quote-unquote money.
And what he talks about later is we need a shift of consciousness.
We need to know that there is enough for everybody.
The universe is infinite.
We have enough for everyone.
There's enough for, like in the movie Thrive, Foster Gamble's in the movie, as an aside, that there is enough for everyone to thrive.
But we need to have a consciousness shift that we know that and that we are enough.
And you teach our kids when they go to school or the indoctrination camps that you're enough.
You don't have to be anything specific.
You as a human being are worthy in and of yourself.
That type of thing.
One more real quick one, Mike.
You want to see that film clip.
All you need to do is go to themorganreport.com forward slash monkey, M-O-N-K-E-Y.
Even though it's a study of apes, my webmaster used the word monkey, so go to TheMorganCorp.com forward slash monkey.
You will see that.
I think it's a three-minute clip.
I think if you see it for the first time, it's going to kick you back in your seat because a lot of that resonates with, oh my goodness, what are we doing to ourselves?
That's really extraordinary.
It just shows you, too, I think our audience would resonate with this idea that...
Artificial scarcity has been placed upon humanity as a means of control.
And so, artificial scarcity in money, which is really interesting, leads to my next question.
Whereas the government can print unlimited currency, but we have scarcity and we have to give more currency to them, even though they can print all they want.
But then secondly, scarcity in energy, scarcity in knowledge, that's censorship.
And scarcity in technology, that's suppression of technology, seizing patents, etc., including patents of free energy technology that could set humanity free and offer, you know, decentralized freedom.
But getting to money, I'm proposing that we call the Trump administration the audit administration because now they're auditing, you know, through Doge, right?
Auditing USAID, finding out that even the EPA, Lee Zeldin as head of EPA, Just did a bombshell interview, I think it was Fox News yesterday, saying that we found out that EPA was used as a giant slush fund front to funnel billions of dollars to these pop-up nonprofits that were just funneling money to who knows where,
all under the guise of climate, which was just a cover story.
And the same thing was happening with USAID.
So, David, your response to this, now that the audits have begun...
It's turning up that everything, the whole government operation of money printing has been a massive criminal money laundering operation.
Yeah, it's not surprising to me.
I mean, I've said for years, especially on some interviews, I don't do it on all of them, it's basically we have a criminal enterprise running the global financial system.
I mean, you know, I'm a big proponent of the movie Network as kind of a metaphor for what really happens.
And in that movie, if you haven't seen it, you can type it in.
There's some clips on YouTube.
And basically, this well-known news reporter says there is no USA.
There is no South America.
There is no China.
All there is is 3M, AT&T, Dow Chemical, DuPont.
And he names all the multinational corporations.
And there's a lot of truth in that.
That, you know, the Chinese don't want to go to war with us.
They want to get back to making money.
And this is something that is kind of overlooked.
And I've said it many times that, you know, whether you're in a communist system or a socialist system or a republic or democracy or whatever slant you have in your political class, the bankers don't care.
As long as they're in control of the issuance of money.
They don't care what political strife you are.
They're still in control.
And this is something that's hard to get across to some people.
I actually interviewed Dr. Shiva fairly early on.
I know you spoke with him a couple times.
I listened to their last interview a couple, twice.
I listened to it twice.
And I don't disagree with his swarm idea, but I tried to point out the pyramid from the Thrive movie.
About government is the lowest rung on the pyramid.
What's above that?
Multinational corporations.
What's above that?
Commercial banks.
What's above that?
International money center banks.
What's above that?
The Bankers Bank, Bank for International Settlements.
What's above that?
The big I. And I'm not going to go there because it can get very distorted at that level.
But you get my point.
And most people are just really upset with my...
You know, that pyramid when they think about it because they want to believe that Team Red or Team Blue is going to solve their problems.
Maybe they'll make them better and maybe we'll get to a government that actually works for the people like intended originally.
I don't rule that out.
What I'm trying to convey is you need to put your faith in a higher power and not in man, even as good as Trump may or may not turn out to be.
We still have to rely on something.
And that comes from within ourselves, basically, from my belief system.
So my point is that we've got the whole system upside down, Mike.
And a lot of good is going to come from this audit.
But yet, I think the main point doesn't need to be missed.
And that is, we need to be reliant on each other, trust each other.
Yes, the political class can still exist, but let's size it to properly meet and serve us, which was the original intent.
We'll come back to a system that we can all believe in and trust.
Well, I completely agree with you, and there's a lot of wisdom in what you just said, and I would simply add that I don't think government should be in the business of creating currency at all.
Not at all.
Not at all.
Yeah, I mean, we the people would be so much better off to have an honest currency backed by gold, like, exchangeable for gold.
Through some mechanism, and I know there are some people working on this with various privacy crypto projects and so on, but without the power of the government getting behind something, it'll probably never be widespread use.
And the government, of course, has abused this power and has used it to enslave us and to confiscate the product of our labor, which is a form of slavery.
Do you think that Trump is serious about ending the IRS?
Well, that's a tough one.
I'll take him at his word.
I think he probably is.
I mean, right now, it's so convoluted.
I mean, if you look at my bookshelves and you multiply that about fourfold, that's about the IRS code.
They don't know what's in it.
You don't know what's in it.
No one knows what's in it.
I mean, they know certain sections and all this, but I'm saying in totality, no one can cover all that.
Maybe AI.
The point is that it'd be very simple to cut the IRS completely out of the pattern.
And make a VAT at point of sale.
So if you're buying a Volkswagen like I drive, your sales tax or your point of sale tax, your VAT is, make up a number, 2.5%.
But if you buy a Lamborghini, since that's a luxury item, it's 10%.
But at least in that case, you have a choice that, you know, if I want the Lamborghini, I'm willing to pay the extra, you know, fee.
But at least there is some...
Free will involved in the transaction, whereas now it's not.
You know, it's basically if you make this much, send in this check.
Of course, there's a lot of stuff that goes around that.
I'm simplifying it, of course.
But I think it'd be a lot simpler.
Would it be fair?
I don't know.
I mean, you know, the question about slavery always comes up.
You know, if they tax one half of your income, are you a half a slave?
You know, when do you become a slave?
Do they tax you at 1%?
Is it 50%?
Is it 75%?
Well, it's three-fifths, according to an old Supreme Court decision.
That's exactly right.
But the real question in all of this, though, is, I mean, Trump, he's not proposing a national retail sales tax.
No, no, I know.
He's proposing tariffs to replace it, which isn't, the math doesn't actually add up on that.
So it means the rest of it's got to come from printing currency.
So I think...
This is my opinion.
I think that Trump is going to just print away the debt and just print the money to run the government, which is going to, of course, cause devaluation of the currency.
It's going to cause gold to go higher defined in dollars and silver as well, but also groceries and everything.
So get ready, folks, right?
Yeah.
Yeah, I wasn't trying to imply that Trump proposed that at all.
It's just the way...
You know, it could be done.
It's an example.
But I think you're right.
I think we're in, you know, a trend in motion continues until it actually stops.
The trend in motion, since we cut the gold tie in August 15th, 71, until now, the trend has been that the dollar's worth less, worth less, and it becomes worthless at some point.
And I think that trend has not changed, nor it will.
And usually at the end, it accelerates.
And if you look at the money supply, how it keeps doubling every fewer years, we're on an acceleration phase, which means exactly what you said, Mike, where the destination is pretty clear.
Now, what happens after that's what's really important because, again, as you and I both stated earlier, we want the free market, the people themselves, to determine what is a value-based money system.
And that's what works outside of government intervention.
And really, that task was given to the Treasury, which was usurped by the Federal Reserve in Christmas Eve, 1913.
So will we get back to that or not?
I don't know.
I certainly would like to think so.
That's the purpose of my life, basically, is to restore freedom and the power of money to the people.
That's why I'm alive.
I mean, I feel that's my duty and my calling.
But outside of who I am or what I do, that's a key to a truly free society.
And without freedom, we really don't have anything.
You can have all the gold in the world.
You can have all the farmland.
You can have warehouses full of freeze-dried food.
But if you don't have freedom, it really isn't worth it much.
It's funny you say that because I just did a podcast on that very point.
I said...
Some people complain to me and say, stop talking about politics.
Just focus on food and health.
And I did a whole podcast explaining you can't talk about food and health without talking about freedom, which is political.
Because if you don't have freedom, then you're going to starve and you're going to be forced to take interventions or jabs against your will.
You've got to have freedom first.
Only from that does abundance even have a chance.
Correct.
All right, David.
Well, thank you so much for this interview.
And I want to give out your website again, themorganreport.com.
And just want to encourage our audience, if you add a slash monkey after the end of that, not shock the monkey, but slash the monkey, slash monkey, then you can watch the video, the astonishing video called What Happens When You Teach Monkeys to Use Money?
And it's not good.
So thank you, David, for joining me today.
It's been a pleasure.
My pleasure, Mike.
Thank you.
All right.
Take care.
And thank you all for watching today.
Mike Adams here on Brighteon.com.
And you can check out more of my articles at naturalnews.com.
Take care.
Take care.
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So get ready and help support us, healthrangerstore.com and rangerdeals.com.
I'm Mike Adams, the Health Ranger.
Thank you for your support.
God bless each and every one of you.
God bless America.
And join me in praying for peace and praying for the restoration of our constitutional republic.
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