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July 31, 2025 - Health Ranger - Mike Adams
01:12:53
Andy Schectman warns that Trump is going to COLLAPSE the dollar...
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Welcome, everyone, to today's interview.
I have an amazing guest for you, Andy Sheckman from Miles Franklin.
He's the CEO of Miles Franklin.
He's got a brand new show and channel on YouTube.
He's got a brand new studio, a new co-host, etc.
Now, I'm not on camera today, folks, because I'm not in my studio, but don't worry, Andy's studio makes up for both of us.
Welcome, Andy.
Thanks for joining me.
I love your studio.
Thank you, buddy.
I appreciate it.
It's wonderful to be here.
Yeah, I do too.
And it was one thing doing it out of my basement in Minnesota, and then we moved to Florida in my office.
But, you know, three dogs and craziness going on around me all the time and doorbells ringing.
And it was just nice to, you know, step it up a little bit and build a studio.
And we did.
We hired Michelle McCorey to run our media division.
And it's funny, we did our first video together.
And I was reading some of the comments.
And someone said, Michelle, great first video and great first guest.
So I'm already, you know, I'm second, but that's okay.
That's why I brought her on.
She's fantastic.
And we'll have to have you on or come on your show with her.
And I think she won't disappoint.
She's a wealth of knowledge.
Yeah, that's worth pointing out.
Michelle McCorey, I mean, I've grown to respect her incredible depth of knowledge about financial markets, about crypto, about privacy, all these things.
She is one of the most well-informed people in the whole industry.
Totally.
And, you know, I learned that when I did my first interview with her maybe five, four or five years ago, she knew everything about everything that I was talking about.
And I was blown away by that.
And she'll make comments to me, like, if I'm going to have someone on who's just written a book, I will read their book before I have them on and know everything about them.
And that makes a big difference when you're having a conversation because what she prides herself on is respectful pushback.
So she'll say to me, listen, I agree with what you're saying.
But for those that may not, what about this?
And what about that?
And makes you think and she keeps you on your toes.
So we're excited to have her.
I appreciate you bringing that up.
And yeah, the new digs is great.
And it's nice to be out of the house, really, and actually have a place to go to now.
So that's good.
It's good to be here more than anything, Mike.
You're amongst the best in this entire industry.
I try and follow everything you put out, although it's too much to follow because you put out a lot, but I try and catch almost everything.
And you're doing a great job.
And it's an honor to be here, as always.
Well, I'm honored to have you on.
And let me just back up for the audience here.
I first became aware of your analysis several years ago.
Maybe it was five, six years ago.
I forgot exactly.
But you were the very first person to be talking about BRICS and how BRICS was a legitimate threat to dollar dominance.
And when you were saying this, Andy, initially, and I say this with respect, but you were laughed at, right?
I mean, but then you have been proven so right again and again and again that now even Trump and his people are saying BRICS is essentially a threat.
And in this tariff war and the sanction war that's underway, which we'll talk about in more detail, it's obvious.
It's obvious that the BRICS nations are choosing BRICS, not choosing to capitulate to the dollar.
Can you talk about that?
A thousand percent they are.
There's no question.
And, you know, there are some things happening right now, Mike, and you might have to stop me along the way.
I have a bad habit of rambling, but I think is bigger news than anything that I've covered to this point.
You know, one of the pushbacks, Mike, about BRICS is that they're not big enough.
That, yes, they're legitimate when you're talking two of the three largest nuclear arsenals and China and Russia.
And, you know, they're big, right?
And India, they're big.
They're legitimate, but they can't compete with the West.
I disagree with that.
And so if we look at, for example, they had, when we last talked, probably, I'm thinking that it would have been, I don't remember when we last talked about the bridge, but BRICS, but they had something called BRICS-MBridge.
And Embridge was a cross-border technology that allows them to trade with one another free from SWIFT interference.
And it was developed between China, Hong Kong, Thailand, and the UAE.
And Saudi Arabia became a fifth partner at the end, a fifth formal partner.
And all of this was developed through the innovation hub of the BIS.
And the BIS at the Bank of International Settlement, which is the biggest bank in the world, a Western bank.
And I believe what they did amounted to espionage right out of a James Bond film where at the 12th hour, right before their big meeting in Russia, they pulled out and said, look, we can't be part of any technology that allows the Western sanctions to be escaped through this technology.
In other words, they're saying countries that are sanctioned, we can't allow them to use this technology.
It's as if they just realized for the very first time that Russia was the R in BRICS after four years of developing this with these countries.
So everything's kind of gone dark.
And if we look at what's happened to people.
I just want to be clear and add that it was designed to delay BRICS.
And it did.
It did delay.
It did.
It did.
And so then about a month ago, we find that it's now called the Renimbi Cross-Border Payment System or the Bridge.
I got some great stuff for you, Mike.
So you won't even have to, you can interject all you want, but I can show you what I think is happening here.
So the Bridge technology has just been, they came out and said we have connected, that being China, 11 countries in Southeast Asia.
They're called ASEAN, Asian countries.
Is there that unit, that Asian unit?
These are the countries in Southeast Asia and five Middle Eastern countries.
We've connected them to the new bridge technology and they represent 38% of global GDP currently.
The technology is free from SWIFT interference and it's cross-border payment of local central bank digital currencies.
So the Bank of China can trade Yuan to Saudi Arabia for oil and then Saudi Arabia.
I'll tell you what they can do next.
I'm going to stop right there for a moment.
So anyways, this settles in seven seconds.
Typically, it takes three to five days with the currency switches back and forth, three to five days to complete a transaction with SWIFT from border to border in other parts of the world, seven seconds with a 98% reduction in fees and no SWIFT interference.
So they got these countries signed up.
And then, so something happened that I don't think I've heard anybody but me mention.
And I've been screaming about this for the past month.
And that is that in a meeting that Sergei Lavrov, the Russian foreign minister, just had, he said something very interesting.
He said the BRICS technology, which is, or the new bridge technology, which is not compliant or not compatible with the dollar, the pound, or the Euro, okay, dollar, pound, euro, out.
It's going to be opened to other countries of the world.
And so he's opening up the technology to the rest of the world minus the pound, the dollar, and the euro.
Now, immediately after realizing that this just came after the integration of the Asianic countries and the five Middle Eastern countries, I'm thinking, Belt Road, the Belt Road is what got me interested in all of this.
Belt Road is 75% of human population, 50% of global GDP right now.
And the Shanghai Cooperation Organization and the Eurasian Economic Union, these are two organizations that in and of themselves represent about 65% of human population and north of 40% of global GDP.
And the president of Belarus is saying these two organizations need to meld with bricks.
If you stop right there and you look at the Belt Road, the SCO, the Eurasian Economic Union, and the 11 Asian countries and the five Middle Eastern countries, you're talking 90% of human population that will be able to use this system.
Now, that in and of itself is cool.
Let's connect some more dots.
I'm sorry.
Before we go there, I just want to make sure, even though my audience is very sophisticated, I just want to lay down the implications of this.
It means that the U.S. would have no tariff leverage, for one, none, over any of these countries.
Now, right now, just a couple of days ago, Trump said in 10 days, we're going to put secondary tariffs on any country that purchases energy from Russia.
That includes China, that includes India, Turkey, even the EU, etc.
Trump just announced pretty big new tariffs on India, which is, you know, hey, we're the United States.
Let's punish all our allies.
Right.
So I think it's 25% on India.
And China has already said, go pound sand.
We're not going to stop buying energy from Russia.
And then Russia just announced we are immune to Western sanctions.
We don't care.
We've already got workarounds.
So, I mean, Andy, isn't the U.S. just losing its grip over being able to influence and dictate the terms to the world?
Yes, and I think they're going to destroy the dollar purposely, which I will get to.
But yes, they are.
And that would be the opposite thing you'd want to do after the last four years of literal brain-dead foreign policy, irresponsible fiscal and monetary policy, to go around and to use the stick instead of the carrot.
It's the wrong thing.
Now, I would vote for Trump again.
God bless him.
Because what he wants to do, I think needs to be done.
And I'm going to try and connect all of the dots.
You stop me at any point.
This is about a 10-minute weaving through.
And I think you'll say, I mean, I'm like, oh, my goodness.
Could this really be what they're doing?
But you say he wants to destroy the dollar, but that's to save the debt system.
That's correct.
That's exactly right.
So, first of all, if we look at what I just mentioned about all of these countries having the ability to trade local currencies over this new bridge in seven seconds with the Swift not even knowing about it, it's not compatible.
Well, that's pretty impressive.
Now, at the same time, the Shanghai Gold Exchange comes out and says we are now going to, in an effort to help internationalize the Yuan, we are going to open a network of multi-jurisdictional gold vaults, starting with Hong Kong,
which is completed, the second one, which is under construction right now in Saudi Arabia, and then a series of vaults throughout the Belt Road Initiative and throughout Asia, Africa, and eventually South America.
These vaults will be multi-jurisdictional.
Think of us of Venezuela and trying to get their gold back from the Bank of England.
No, we don't feel like giving it to you.
Goodbye.
The problem of having all of the gold in one jurisdiction, it gives too much power.
So, all right, so China comes out and says, we have now immediately, as of today, made, and this is about a month ago, yuan convertible into gold immediately on the Shanghai Metals Exchange, deliverable if you want, in Hong Kong, soon to be Saudi Arabia, and then the rest of these exchanges.
In other words, you don't have to take your digital yuan and convert it to dollars first to buy gold as you would have in the past.
So now, Saudi Arabia will sell their oil to China for yuan that goes over the over-the-bridge technology in seven seconds, no swift interference, 98% reduction in fees.
And if they wish, they can immediately either exchange it all for gold and leave it within the system, the vaulting system, or say, you know what, we'll stand for delivery.
Pretty soon, it will be in Saudi Arabia.
All of the Middle Eastern nations will have this same capability.
You're seeing exchanges pop up in Moscow, in St. Petersburg.
You're seeing them pop up in Singapore.
You're seeing vaults that are being built.
The BRICS new vault, they'll all be connected to this new skeletal system where we trade over the bridge technology in CBDC.
We settle in balances in gold.
The gold is not representing a new currency.
It's representing the treasury bond.
It's backing the currency because it is deliverable.
Okay, hold on.
So every time you say a big chunk like that, I'm going to need to restate it in a different way, if you don't mind.
But please, mass decentralization of the physical ownership of Gold, the vaults that are going to be in BRICS participant nations inside those vaults, there will be allocated gold that is owned by the different BRICS members.
And when there is a trade imbalance in oil or commodities or whatever, that trade imbalance can be settled by just shifting the ownership of the gold without moving the gold.
Is that correct?
It's correct, but the only caveat being they're going to do it through the belt road as well.
So all of the belt road, 150-plus countries, they're not all going to have vaults, but there'll be a bunch throughout the system.
These are all aligned with the bricks, but not part of it, which makes it even bigger.
So you got all of these countries that are being industrialized that will be able to move their goods from the ground to the market.
They'll build roads and bridges and maritime channels.
They'll build vaults.
They'll build oil refineries and all of this stuff, they will sell it through the system over the bridge network, and they can be paid in other currencies or in gold for their rare earths or for their oil or for their copper.
I mean, it just presents so many vast opportunities where the cash part of it, the settling is not in dollars anymore, being local currencies, and the reserve part of it's no longer in treasuries, but in commodities.
Okay, but Andy, I'm sorry to interrupt, but tell me about what mechanism prevents any one player in this system from mass counterfeiting its own currency, you know, printing its own currency, and then using that to flood the system and acquire all the gold from the other participants.
Because I would think that, and again, that's a fair question, but I would think you would have to keep your monetary house in order in order to do trade.
In other words, in order to do, if you are hyperinflating your currency, it would rear its head pretty darn quick.
And you would have to, no one would want to trade with you.
No one would take your currency.
There has to be, what this brings in is it brings in monetary restraint.
That if I'm going to trade with you, you're going to have to keep your monetary house in order.
And if I hold your currency, I have the right to sell it and buy, have to sell back to you, potentially, in order to get the funds to buy.
And that's an agreement made.
We'll always take our currency back.
That was part of the Embridge theory.
But I guess the point of it is, is it doesn't work if countries are destroying the value of the currency.
No one will trade with them.
They'll only want gold.
They won't take the currency part of it.
So I think in and of itself, it's kind of like eBay.
When you buy an eBay, you have to pay quickly and you have to ship quickly at the other side.
And if either one don't work, well, no one's going to trade with you.
You get a bad review.
Don't trade with them.
They're bad.
Their currency sucks.
Don't do it.
So anyways, but importantly, the current SWIFT system is dominated by the control of the United States, one country with one currency that is mass counterfeiting its currency and effectively ripping off the entire planet.
And everyone, that's correct.
And everyone kept their gold at the Bank of England and the New York Fed, two centralized locations.
So you're right.
All of that is true.
All right.
So now we get to a point where they say, well, we're going to, you know, this is what we're going to do.
I believe that the BRICS, they had talked about the unit currency, which is the exact same thing.
I believe they're waiting out Trump because of all the threats and tariffs.
And instead, the Chinese are building the infrastructure.
They're building the rails or the skeletal system, which are the multi-jurisdictional vaults.
They already have an operational bridge system.
They're signing on members.
They signed on 38% of GDP already.
They're introducing it to the Belt Road.
I'm going to tell you something in a minute, which will validate that.
And they're expanding it so that when, if in a year or two, they want to roll in, in place of the digital yuan and all these other digital currencies, the common settlement currency, not the common BRICS currency, but a common settlement currency, which the former president of Brazil,
Delma Russoff, who is the head of the BRICS New Development Bank a year ago, said, we've agreed in principle to this new unit token, 60% BRICS plus currencies, 40% gold, deliverable of bond requests in a series of multi-jurisdictional vaults.
This is the unit ecosystem that China is building out under the guise of internationalizing the yuan and internationalizing the reach of the Shanghai Metals Exchange.
So in essence, they're building the rails by which the currencies will trade and the gold will settle.
So, okay, all of that being the case, so that's all great.
We find out it's going to be open to other currencies.
So the other day, I'm watching a video, and let me give you the name of this guy.
Watching a video just a couple of days ago, and his name is Andre Mikhailishin, M-I-K-H-A-I-L-I-S-H-I-N, Mikhailishin.
He is the chairman and founder of Bricks Pay.
Now, I've talked a lot about Bricks Pay.
Bricks Pay, think of it as B2B.
Think of it as retail, B2B, customer to business, business to customer, small bank to small bank.
Again, free from SWIFT interference.
He made a comment.
He was very upfront saying, we're not trying to create a revolution.
We'd love to be part of the dollar system, but they won't let us.
We're sanctioned.
And so, you know, this is not, we're opening it up to other countries, but the West, we can't, you know, coordinate with Visa and this and that because of it.
So, you know, this will just be for BRICS countries and non-BRICS countries, just not the West.
But he said some really, really, really, really interesting things that I want to mention to you.
The first thing he said, he says, we're currently in meetings in China to develop BRICPAY technology throughout the Belt Road.
75% of human population, 50% of global GDP.
What are they doing with the BRICS bridge?
Industrializing it through the Belt Road from central bank to central bank.
This is one step below.
He said, in the future, BRICS Pay and BRICS Bridge will be combined.
Interesting.
It's a retail, non-non, it's service open to non-BRICS countries, B2B or bank to bank, also for retail.
But then he also said something else, just as an aside.
He said, you know, this is an aside because I'm going to switch to the U.S. now and tell you what I think they're doing to combat this and where we're ultimately going with gold.
But you can Stop me at any point.
He says, You know, the reason, Mike, that I left my company in Minneapolis, even though I moved to Florida, where I've had a satellite office for going on 20 years, my oldest friend in the world runs it in Del Rey.
And I left my corporate office in Minnesota because it's the only state in America that regulates what is a federally non-regulated industry.
We're held to a higher standard.
Most of the industry won't sell into Minnesota because of the regulations.
You have to be licensed, bonded, and background checked annually, including myself.
And so I take all the classes, right?
And I know all this stuff, but I've never heard what I'm about to tell you.
And I've been on three or four shows and asked, do you know what this is?
No one does.
So no Googling.
All right.
Here's what was asked of Andre.
And the lady says, Andre, well, you're working with all of these countries.
They're terrorists out there.
How do you know that your funding or your rails of the BRICS pay system, think of it as like a Visa card almost, for all currencies?
It's just seamless.
How do you know that it won't be funding terrorist operations?
He says, well, you know, you're right.
We are opening this up to other countries.
And so we are very sensitive to compliance of other countries.
And so our software is compliant with KYC and AML.
Now, do you know what those two terms mean?
KYC and AML?
Know your customer and anti-money laundering.
Correct.
And that's what we're all aware of, right?
And have you ever gone to a bank and they say, Mike, you're taking out $1,000.
What do you plan on doing with that money?
And you want to say, none of your darn business, but everyone's been saying that, right?
He then goes on.
Now, keep this in mind.
He says, our software is compliant with KYC, AML, and KYT.
And I stop it and I rewind it.
I'm like, what did he just say?
KYT.
Now think of what they say to you.
What are you going to do with that money, Mike?
None of your business, Ms. Teller.
KYT means know your transactions.
He goes back and says it is KYT compliant as well.
Know your transactions.
So I believe, as an aside from all of this, that the banks have been told for a while now, ask them what they're going to do with it.
If they volunteer it, write it down.
If they push back, ignore it.
If they say something that frightens you, fill out a suspicious activity report for them.
Kind of gently moving into this direction.
But when we talk about the benefits of ease of these stablecoins, which I'm going to get deep into in a moment, bear in mind, I would venture 100% that they have KYT technology in it.
So not only will we be told this is much more convenient and quick, and instead of a check clearing in five days, this will be like Venmo clear just like that.
But they're going to know who you are, where the money came from, and what you are buying.
So if you want to go out and buy stuff that you don't want people to know about, whether it be firearms, which are legal, or precious metals, which are legal, or whatever it is you want to own that you want anonymity, and you might want to think about that as to where we are moving down the road and how fast the integration, you know, my podcast is little by little that I've been doing.
Well, the little by little, just from five years ago, the concept of stablecoins to where it is now.
And I'm going to get into why we're here and why I think they're doing this and what's going to happen with gold.
So, okay.
So, okay.
Yep.
This is critical.
And I wanted to go there with you anyway, because the Genius Act has passed.
It has been signed into law.
And it allows the government to authorize and surveil bank-issued stable coins as long as they are backed by purchases of U.S. treasuries.
And Andy, you probably have heard me say that you're an idiot if you buy stable coins backed by debt in the dollar because the debt is only backed by the full faith and credit of a government that is bankrupt and morally bankrupt.
No, it's unstable.
It's mentally unstable coins is what they are.
You'd have to be an idiot to buy them or hold them.
Now, I can understand buying them and using them for a transaction and you get rid of them in 30 minutes.
But if you're going to buy and hold something, it should be gold and silver or platinum.
Right.
And so many of the people who think they're leaving the legacy system are actually supporting it by buying the stable coins throughout the ecosystem.
And, you know, so you're going to see American Express start to issue them, and you're going to see all of these other banks issue them for ease and transaction and speed and all of this stuff.
And they will all be backed by treasuries.
So here is why I think they're doing it.
Obviously, we have $28 trillion in debt that comes due in three years, right?
We take in $15 trillion in tax revenue in three years.
That math doesn't work, but how about the $3 trillion in deficit spending each year at least?
They just raised the debt ceiling to $5 trillion.
So $3 trillion a year in deficit spending, that adds another $9 trillion.
So that means 28 becomes 37, but you take in 15.
So you're about a third of the way there.
Where does the money come from?
And when you look at countries like China and Saudi Arabia and Russia and India and Japan, they're all shedding treasuries.
China has now gone to number three ahead or behind Great Britain, who's number two.
So you have two massively indebted countries buying each other's debt.
It's like two drunk guys leaning against each other so they don't fall down.
It's the silliest thing ever.
At the same time, you know, you look at like last year as an example, the difference between holding gold and a treasury.
10-year treasury was up 4.5% last year.
Gold was up 40%.
This year, halfway through the year, the 10 and a half treasury, 10-year treasury is up 2.5%, half of 5% or 2.2%, half of 4.5%.
But the dollar is down 11%.
So you're net 8.5% down while gold's up 35%, which plus the net down 11%, you're up 55% in gold versus a 10-year treasury.
Doesn't make much sense.
You go back 25 years, it's doubled its performance.
But Andy, I'm one of the few people who's actually done the math on this.
And there's no way that they're going to be able to sell enough stablecoins to people to cover any significant portion of the Treasury debt.
See, but here's where I think I've put a spin on it for you, my man.
And let me tell you my take on it.
All right.
So here's my spin.
First of all, the Treasury, all of the stable coin debt or backing by treasuries will go just to the front end of the curve up to two years.
That will be enough just for the front end, right?
So, you do your 90-day, your six-month, your one-year, your two-year treasuries will all be funded to keep the engine going on the front end.
Now, the back end, this is the problem.
If we owe $37 trillion in three years, but only take in $15 trillion, how do we do it?
Well, we print.
We're going to destroy the dollar.
We'll continue to print.
We'll continue to print.
But when you do that, what happens to interest rates?
You can't sell a 10-year treasury or a 30-year at 4% when your inflation is running 11 or 12.
And, you know, CPI says 2.5% or 3%.
John Williams of Shadowstat says add 8 to that.
That's how they used to measure it prior to the Reagan administration.
So you had 11% inflation.
What if it really goes higher?
You know, they lie about the CPI and all this stuff, but they're going to realize, look, they're printing.
They're going to destroy the dollar.
There's no way they can do this.
So the rates have to be way higher in order to track demand to sell Treasury debt, right?
So you're right.
It's not enough just for the stable coins.
So what do they do?
Luke Roman says they're going to anesthetize the 10-year Treasury and kind of make it irrelevant.
Judy Shelton comes on my show six months ago, says they're going to peg gold to the treasury market, to the back end of it.
Start with the 50-year duration and then go to the 30, 20, and maybe 10.
But here's where it gets interesting.
So since November, we've imported that we know of north of $100 billion in gold and silver, that we know of.
And I say that we know of because I believe the Treasury is behind a lot of this through the Exchange Stabilization Fund.
Scott Besent, the self-proclaimed gold bug who said he wanted to monetize the balance sheet of the U.S. government asset base, which is only $5 trillion, $1.5 trillion nearly or 40 plus percent of it is student debt.
The next biggest is military.
Those won't be monetized.
You could do some with national parks, I guess, which is three.
But I believe he was talking about gold.
And he did this in February.
And I think someone said, Scott, shut up.
What are you doing?
You shouldn't be saying this yet.
We're still importing it all.
And we become net importers of gold for the first time ever.
Massive, massive, hugest deliveries ever, month over, month over, month, biggest delivery in gold ever on the May contract, $8.5 billion that we know of.
And I say that we know of because by proxy bank like Citibank or JP or Goldman buying directly from other places around the globe, like Singapore or Switzerland or wherever it may be, taking it in directly, not through Comex.
My guess is they've been buying a lot more than this, but that's a guess.
What we know of has been over $100 billion.
And we don't know who it is.
That's why I think it's the Treasury using the Exchange Stabilization Fund under the guise of national security.
We can't tell anyone.
Just like the Kennedy files, we can't know this stuff.
So they're keeping it quiet.
You're right.
You're right.
There's no question.
This is not just some family fund or some hedge fund doing this.
Right.
So, all right.
Now, on the balance sheet, U.S. Treasury holds 260 or 80 million ounces of gold that is valued at 42.22 an ounce.
It's held in an account called the gold revaluation account.
You can't make that up.
When Roosevelt revalued gold in 33, he confiscated it, paid everyone 20, 67 off a $20 face value coin.
$0.67 when nickels are when eggs are a dozen for a nickel.
It's a lot of money.
And he devalued the dollar by 40%, making gold 35 bucks.
Nixon did it when he closed the gold window in 71 at 35.
He devalued the dollar next year by 7%, made gold 38.
And at the next year to 42.22.
In each case, the dollar gets devalued.
And this plays into my thinking, but that's where it sits on the balance sheet today.
If he marked it to market, and by the way, the Treasury Secretary would just tell the head of the Federal Reserve, mark it to market now, and bang, that's what it is.
We'll pay whatever.
We will pay the market price if people want to deliver their gold to the Treasury.
But the gold we are holding right now, we are valuing it at the market price of 33, whatever.
And that would add $800 billion to the Treasury.
And the way that works is, in essence, the Treasury takes gold certificates and sells them to the Fed.
The Fed creates the money out of thin air, which devalues the dollar, all the inflation, and buys, gives that to the Treasury, free and clear.
The gold is held by the Fed, but they don't have claim on the gold, just the cash value of it.
The gold belongs to the American people.
Wait, wait, wait, wait.
Let me stop you right there.
Because this is one of the questions I have, because a lot of this looks like a gold swindle to me.
It looks like an international banker.
It's not a gold swindle.
But doesn't the Fed hold the claim to the gold at that point?
Only the cash value of the gold, the fiat value, not the gold itself.
Really?
Yes.
And that is the key to it.
They do not hold claim to the gold.
They hold it in custody as collateral.
They do not hold claim to it, only the cash value of it.
Okay, so wait, so basically then, this is the generation of more Treasury IOUs to the Fed.
Yes.
And it's a way to devalue the dollar and revalue gold.
So if there are people out there, well, who's been buying all the gold?
The central banks, right?
So they're not going to mind if gold gets revalued at all.
But at least marking it to market has no impact.
But what if they mark it much higher?
Now, James Rickards, who's a pretty smart guy who's run simulated war games for the CIA, financial war games, he says 24,000 they're going to revalue it to.
Others say 15,000.
One is taking M1 and the other is taking M2 and dividing it into the gold stash that hasn't been audited.
But he says at 24,000 an ounce, as crazy as that sounds, the Fed would give the Treasury $6 trillion free and clear.
Now that $6 trillion would massively devalue the dollar, which is what, because here's where I think I'm going to connect the dots for you.
They want to devalue the dollar, right?
You devalue the dollar, you get a bunch of inflation, and he gets on TV and says, we need to do this for our kids and our grandkids.
We've messed up and there's no way that we can, well, let me connect the dots first and then I'll go there.
So they devalue the dollar.
The treasury gets $6 trillion.
They can start paying down debt.
Judy Shelton says they're going to issue.
She said, Andy, July 4th, 2026 is a huge day for President Trump.
Remember, for all of you who don't know by now, Judy was his Trump's Treasury, I mean, Fed nominee in 2016.
She wasn't confirmed due to partisan policy, but she probably is in the running for this next Fed chair.
Regardless, she said he told me flat out, he told me, and she's been tweeting this again recently, that on July 4th, 2026, he will issue Treasuries redeemable in gold.
Now, the front end is being controlled by the issuance of stable coins, keeping the engine running.
The back end, the 10-year gets anesthetized.
The back end, which would be the 50-year, the new one, 30 and 20, will be redeemable in gold.
And guys like Luke Grohman says, I think they're going to let gold go to 7,000 or 8,000 and then revalue it to a higher number.
Let's say they revalued it to 24,000 or whatever number it is.
The reason that they would do this, and the reason I believe Judy is right, and the reason I think they're going to destroy the dollar, what does Trump want to do?
He wants to bring back manufacturing.
Manufacturing, if you run, if you're the world reserve currency, there's something called Triffin's dilemma.
You'll always have trade imbalances, period.
So tariffing these countries, really, you have to wonder, because these countries have accepted dollars and then put balances in excess in treasuries, we've had low asset prices.
We've had low interest rates and high asset prices, low price goods, and low interest rates.
It's been a benefit to this country.
And if we push away from that, do we really want to do that?
Now, you're going to have high interest rates, high-priced goods, and low-price assets in a higher interest rate environment.
So the point of it is that being the World Reserve currency, Triffin's dilemma says the world cannot get enough dollars for all of the trade they need to do just through our trading alone.
So they have to sell their currency to buy our currency, which means ours goes up, theirs goes down.
This is why we send them our manufacturing.
It hollows out your manufacturing because you can send it all to Taiwan and to Hong Kong and to China and to Vietnam.
By the way, Vietnam just joined the BRICS and they'll manufacture it for pennies on the dollar.
This is why you have a trade imbalance.
So in any case, that's, you know, how do you continue to get, how do you bring back your manufacturing?
Well, the first thing you need to do is have a massively devalued dollar, which helps in selling your product to the world.
That's what Trump just said.
He just came out and said, in fact, you're going to like how I connect this, Mike, I promise.
He just came out and he said, what did he say?
He said, which kind of confirms all of this.
He said, strong dollar.
He says, Trump said today, he liked a strong dollar, but you make a hell of a lot more money with the weaker one.
So when we have a strong dollar, one thing happens.
It sounds good, but you don't do any tourism.
You can't sell tractors.
You can't sell trucks.
You can't sell anything.
He said manufacturers would be the first to benefit from a falling dollar.
Japan and China fought for weaker currencies for decades and were able to dominate markets over the years.
Now, it doesn't sound good, but you make a hell of a lot more money with the weaker dollar.
So the dollar gets weakened.
Yeah, go ahead.
Yes.
No, Andy, sorry.
I've got a stack of questions.
Before you continue, I've got to throw these at you.
So number one, Donald Trump has always accused China of currency manipulation for striving to achieve a joint.
Right.
So that's what Trump is doing now is admitted a currency manipulation.
Second point is I don't believe that you can reindustrialize America for several reasons.
But one of these important reasons is that the entire Eastern power grid, the JPL power grid, is already maxed out.
They've announced they can't have any more data centers and that if you build anything that requires a lot of electricity, you have to build your own power plant.
And you've got big tech companies actually contracting with nuclear power companies to build nuke plants.
The problem is, and I looked into this in great detail, and Trump announced 10 AP1000 Westinghouse nuclear power plants, right?
And I'm going to pull a Michelle McCorry on you here with the pushback question.
Those nuclear power plants take 19 to 20 years to permit and build.
So sometime in the year 2044, we might have enough power to begin reindustrializing sectors of our economy.
Would it take long if your administration greenlighted the permitting?
The permitting, you could save about four years off of that if you fast track the permitting.
But you can't make the construction go any more quickly for a number of reasons.
And furthermore, Andy, the uranium that we get for our nuclear power plants comes from where?
Russia.
We are buying uranium from Russia while tariffing all the countries that buy energy from Russia.
But then we depend on Russia for our energy for the nuke plants that will only exist 15 years, 20 years in the future.
So this plan to reindustrialize America seems to me like it's a fantasy.
Well, it may have challenges, and I'm not discounting that.
But I do think it's one that is a worthy fight.
And maybe he has plans for that.
Maybe it's going back to coal and opening up the shale and the Bakken and all.
Who knows?
And to your point, maybe they'll start digging here again in the mothballed uranium mines here in the United States, which haven't been permitted, and they mothballed and reopen it all.
True.
I mean, that would be the smart thing to do.
Well, you have to.
I mean, you would have to.
But the only way that you can even begin to do that would be to have a much weaker dollar and low interest rates.
How do you get to low interest rates?
Because they're going to see that we have to print in order to pay just the $28 trillion in debt that comes due.
So you got the stable coins greasing the wheels on the short end.
You peg gold at the long end, redeemability in gold, and now you have zero borrowing costs.
You have a zero coupon bond that is redeemable in gold instead of a high level of interest rate to compensate for the inflation.
Okay, but Andy, this is one of the questions I was asking you in a voice message.
I'm sorry to interrupt.
I apologize.
No, that's okay.
But if I'm Saudi Arabia, and why would I buy a 50-year bond from the Treasury redeemable in gold if I could just buy gold?
Some nations won't.
Many other nations will.
I mean, I think that's what they think.
They're hoping that the redeemability in gold will be enough to reinstill confidence.
Some nations won't.
You're right.
You could argue we're so far down the path that many nations won't, and they'll just buy gold.
The reason that they would say others will is because of the rails of the treasury system, because it's so liquid that it enables things to, you know, the whole reason people invest in treasuries now is because it's the most liquid and deepest market on the planet.
So when you talk about the plans that they're making, that could very well thwart it.
That's why it has to happen sooner than later, in my opinion.
Okay, I agree with you.
Treasuries are the most liquid debt instrument on the planet, but gold being, as you have often said, recognized as a tier one asset and now being recognized by all the BRICS participants with the distributed vaults and so on, seems to me like gold is universally liquid and not subject to sanctions.
So again, I'm some other country out there.
Why would I buy treasuries instead of just buying gold if the treasuries don't really pay me any earnings on the gold and I have to wait 50 years to get the gold?
Well, and I have to trust the U.S. She said that they would issue shorter denominated bonds after the 50, shorter duration.
But I mean, think about it.
I mean, the hubris that the United States has, Mike, I mean, Trump says this stuff right now.
We're going to tariff you and watch out.
And I mean, it's getting to the point where what you're talking about will happen.
But if we don't change it, I believe this is his plan to change that mentality, that they don't want to be the world reserve currency anymore, that they look at it as a penalty rather than a benefit at this stage of the game.
That's why they're tariffing all of our allies.
Because I think they want to push back against it.
But in order to continue, I think that they would still, because you don't have to trust us any longer.
And if we continue to destroy our dollar, the coupon being redeemability in gold will just make the value of that bond go higher and higher and higher.
And you can trade it freely, just like any tradable security.
But the only reason that I think that they would even think this way is that they got the stable coins keeping the engine running, and then they put a zero coupon bond on the long end and maybe ultimately go down to 10 year, redeemable in gold at a way higher level.
That zero coupon allows you and the devalued dollar to actually think of bringing back your manufacturing, reindustrializing and selling your products to the globe at a much lower price because the dollar is massively devalued and the debt in order to build all this stuff is at a zero coupon, albeit redeemable in gold, at a much, much higher price.
It enables you, in essence, to continue the game and maybe grow your way out of this problem.
Because when you have the amount of debt that we have and the inflation that will ensue with it, the only way out, as Richard Russell used to say, is to inflate or default.
I think they've chosen option three, a soft default on the dollar in order to attempt to reinstill confidence in a treasury market that will allow them to bring back manufacturing.
I get what you're saying about the energy.
That's a valid point.
But maybe they're thinking they have ways around that.
That's an angle I'm going to have to look at.
But they think, hey, we can bring it back at zero borrowing costs in a devalued dollar, which will spur demand for U.S. exports right away.
And that we can do this without interest rates back into the treasury going high enough to blow up the entire system.
So I will tell you, because I've looked into this a lot too, that one possible solution is what's called the SMRs, the small modular reactors.
The thing is that technology has been kept under wraps mostly to power military bases and so on.
They don't want the civilian sector to have access to that technology.
Even though the fuel for it lasts eight years.
So you only have to swap out your fuel rods every eight years, and it can power neighborhoods.
It could power a data center and so on.
I think Lockheed Martin and other defense contractors have that tech, but I don't know if they're going to let that loose because of the risk of terrorists stealing fuel and making dirty bombs and things like that.
But let me ask you a different question before you continue.
And this is a brilliant analysis you have here.
It's apparent to me that if this happens, especially the gold revaluation, then the middle class is gone.
You're going to have mass poverty of those who don't own gold.
And then those who do own gold will be incredibly wealthy beyond their wildest dreams.
Is that your assessment as well?
Yeah, maybe that even goes along with universal basic income for a while.
I mean, look, I think we've messed up so bad the opportunity of being the World Reserve currency.
You know, even as going back to right before 2000, in the late 90s, we had a surplus and we were revered and we were trusted and people wanted to own our debt and we weren't fostering wars and paying for wars all around the world and involved in wars everywhere.
And we weren't seeing the idiocy between the left and the right and the divisiveness and the lawlessness and the election interference and all the stuff that we've had to go through and the order problems and all of this stuff.
I don't know of another way.
Look, short of this happening, we're going to get to a point, to your point, where why would I even want to hold treasuries, period?
And there is no way that stablecoins in and of themselves can fund, and I agree, there's no way they can fund the whole thing.
The question becomes, how do you sell your debt to bring back manufacturing if that's what you, you mean, look, we can't leave all of our pharmaceuticals and our microchips and our military components and our aircraft, everything that we need, we can't leave it over there anymore.
It has to come back.
How do you do it without rates going to the moon and blowing up the entire system and just resetting?
Well, that is always an option.
And that is the great reset, the Operation Sandman that you were the first one.
And I always give you credit, always.
Mike Adams, smartest guy ever told me Operation Sandman.
I always say, well, maybe that's what it is.
Maybe they're tariffing our friends and saying, you know what?
Either this works or it all blows up and it's on them.
They're the ones who dump the dollars in the treasuries.
We can blame it on them and reset the system.
We have a villain.
But otherwise, this is the only option you can ever think of to keep rates low on the back end of the market while greasing the front end with the stable coins and have any shot at a low interest rate and a devalued dollar to bring back manufacturing to spur demand, lose the reserve status, but still be the rails of the global financial system with gold-backed treasuries ultimately.
I don't see another way.
Maybe you do.
Let's you and I do some of the math on this together.
So by my estimates, you know, the entire crypto market's only about $3 trillion globally.
If Trump is able to convince enough suckers to buy a trillion dollars of stable coins backed by treasuries, that's a big success.
So I'm going to say $1 trillion in stable coins.
Okay.
Then you said with the gold revaluation, let's say it's $24,000 per ounce.
That frees up, or that creates about $6 trillion, you said, correct?
So it's about $1 trillion per $4,000 valuation of gold.
Is that the right ratio?
Yep.
Yep.
All right.
So that gives us about $7 trillion.
And then countries buying the, let's say, the longer term 10 and up to 50 year bonds redeemable in gold.
It seems to me like Trump would have to find buyers or Besent or whoever would have to find about $20 trillion of buyers of the Asian law.
Judy did say that it would be her belief that the market would issue stablecoins off of the gold-backed treasuries as well.
Again, buying more treasuries.
So, I mean, the whole thing, it's a Ponzi scheme.
There's no question about it.
But the idea is through massively devaluing the dollar as well to pay off the debt with inflated dollars.
And you're right.
It's going to kill the lower and middle class people.
No question about it.
But what other way can you do it?
We're so far, you know, we're at 125% of debt to GDP at the 37 trillion, but that doesn't take into account the unfunded liabilities of Medicare and Medicaid and Social Security alone.
That's almost 200 trillion combined.
And so there's never been a country to cross 130 without defaulting or hyperinflating.
And Japan is there.
And I guess the jury is still out what they're going to end up doing.
But I can simply tell you that we're way over 200% with when you add in the unfunded liabilities.
Oh, absolutely.
Trillion seconds ago was 31,688 years ago.
What are our options?
Either we blow up and reset the whole system and blame them for doing it.
And maybe the tariffs and the prodding and the, you know, you do this or else, those aren't tariffs.
Those are sanctions.
Maybe that's it.
But Trump is very clearly working to maintain dollar hegemony.
He said so recently that he's not going to let the BRICS nations become the world currency.
And there's a quote from Trump.
I'm sure you've heard it, where he says, losing dollar dominance is like losing a major world war.
And he's also threatened an extra 10% tariff on all BRICS participants, which doesn't seem to stop any of them, by the way.
Well, maybe he's saying all of that stuff, think the art of war, the art of misdirection.
He's saying that stuff to incentivize all of these countries to join together.
And the tariffs, those aren't tariffs.
They're sanctions.
Tariffs are used to support your manufacturing.
And they're not talking about a common currency, not for a long time.
They're talking a common settlement currency.
And that's why, you know, if you even take a step back and let's say they don't even use the unit, they just use local CBDCs, make sure that all of their monetary systems are kept in check and settling in balances in gold, free from swift interference, it gives them the immunity from that.
At some point, they roll in their common settlement currency, that being the unit, which would make the ecosystem a little tighter.
But here again, these rails are being opened up to the non-BRICS nations.
That's the part he's missing.
The non-BRICS nations, you're talking the Belt Road and all of the other countries united with the BRICS.
And if all of this business is done through non-SWIFT channels, how will the SWIFT even know or the U.S. even know what's being done?
Settled in gold and trading in a manner that isn't SWIFT compatible or Euro compatible or pound compatible.
So the point of it is, is that, yes, if we're just looking at the BRICS, it's a little bit more myopic.
But if you're talking opening it up to all of these other nations and you too can trade with us and settle in gold outside the Swift in seven seconds, how much of that will start to grow?
And then what if they wait Trump out?
And God forbid we have a re-emergence of the previous administration in a different outfit and they go back to doing the same stupid things or those kinds of things.
And then boom, they just jump in and issue the unit and do all of these things.
The rails will already be built.
All I'm simply saying is this.
I don't know how this all plays out, but I see all of these things that are linear in progression, the massive influx of metals, all of the talk from Besant to Judy Shelton to Trump saying on Easter Sunday, he who has the gold makes the rules.
Well, where did that come from?
I look at all of these pieces and what the BRICS are doing and opening up to the non-BRICS nations and the BRICS pay opening up to the Belt Road along with the BRICS Bridge.
At some point, these things connect.
And when they do, it's too strong to break apart.
I think your analysis is spot on, Andy.
And I have to thank you for being the very first to even bring this to my attention.
I think most of what I've learned about BRICS was from listening to you.
And my only contention here is that I think this effort by Trump will not succeed.
I mean, it's going to be a good try.
You know, you're going to get partway there, a few trillion here, a few trillion there.
But I think we're too deep in debt.
And I think my guess is that when the BRICS settlement system is well functioning, then you're going to see nations just absolutely abandoning U.S. debt and showing no interest in it.
And I want to mention this too, Andy.
The United States of America has lost its moral high ground.
I just interviewed Congressman Dennis Kucinich about this a couple of days ago.
When you lose the moral high ground, then you lose the faith of the countries in trusting that America will always do the right thing.
And we've lost the moral high ground by doing things like funding bombs that are killing children in the Middle East.
And also, we've lost the moral high ground by being part of this effort to seize $300 billion from Russia in Western European banks, which is just outright highway robbery, looting of Russia's money.
When you do those two things, you break the faith that once existed in your system.
You know, post-World War II, America could do no wrong.
We were the heroes of the world in the eyes of everybody.
We would always do the right thing.
We would oppose war crimes and genocide in Africa and machete slaughters happening between tribes.
We would oppose that.
Those days are over.
And now people look at America from outside the country and they're disgusted by what America has become.
So I don't think faith is easily restored in this degree.
And you know something, Mike?
I totally agree with you, man.
I really do.
And I'm not just saying that.
I've spent the last five years saying this stuff and everything was, we're in trouble and we're screwing up and our actions are too stupid to be stupid.
And then Trump came on board and there was so much enthusiasm.
Even though I don't agree with everything he does, I'm thank God he's here.
And I'm trying to find a shred of positivity and hope in a message that's been anti-positive for a long time.
And I turned off a lot of people probably.
So I'm saying, okay, fine.
Let's take Trump at his face value.
He wants to do this stuff.
I got three kids and my youngest is 18.
And I'm thinking, you know, I'm sad for the entire Biden administration.
I would cry inside and thinking, I can only imagine how tough it is for my kids to make their mark in life in this environment, in this administration, in this way of thinking where meritocracy is thrown out the window for lifestyle and all of this nonsense, this wokeism and all of this hard work that I excelled at by outworking people, whether it be in athletics or in business.
That doesn't matter.
What do you like to do behind the scenes?
That's all that matters.
It drove me nuts.
So I figured, okay, I'm going to take them at face value.
If we don't bring manufacturing back, we're dead.
If we don't address the debt system, we're dead.
And so I'm thinking maybe, just maybe with all this talk about reshoring gold and seeing it with my own eyes and revaluing gold and backing treasuries and an administration that might just know where we are and we're in trouble and might just take unconventional steps, I'm hoping.
And maybe hopism is foolishness.
But I agree with everything you've said.
And I guess I wouldn't be, if we're on a roulette table, I mean, I might put it red, black, 50-50.
Maybe it's not even that much.
But I do think I give him credit for, I'm hoping that this is what he's trying to do.
Because short of that, Mike, I don't see, to your point, any way that we don't lose everything that we've grown accustomed to by losing the World Reserve status, by having it massively dumped, by seeing that Operation Sandman moment.
And if Operation Sandman happened, just like I said to you four or five years ago in that first interview, and I said it where we're trying, I said the actions of the Biden administration is too stupid to be stupid.
They are forcing the world to dump dollars in treasuries with their actions, their mismanagement of the reserve currency, their monetary and fiscal stupidity, their wokeism, the open borders, the election, everything.
They're trying to do this.
And if it happens, that rush of dumping is a tsunami of inflation that hits our shores.
Interest rates spike to the moon to compensate for the hyperinflation.
Stocks, bonds, real estate, the banks that hold everyone's money and the insurance companies that hold everyone's life, bang, are gone.
Just like that.
And they did it to us.
I mean, that's the only other way I see out.
And Richard Russell used to say, hyperinflate or default.
There is no other way.
Number three was to find a villain.
Number four here is a soft default on the dollar in an effort to keep the game going.
I guess we'll see where it ultimately falls.
But this is why I love talking to you.
There are very few people who are as bright and educated on this stuff as you because I'm trying for once to be, instead of being someone who talks about the pitfalls of where we are, a shred of optimism.
Because a lot of people really do believe President Trump's motivation is pure.
And I get a lot of people saying, you know, I wish you would just focus on a little bit of optimism.
So I'm trying to find it, but I don't know that, I mean, if this is what he's trying to do, it has a shred of possibility of working.
Okay, and the more uphill battle than I think.
I am very optimistic about stacking gold.
So if you remember, if you were going to tell, if you were going to put something in a time capsule that's opened up in 10 years and it says, 10 years from today, what does the United States look like?
What does your time capsule say?
I think there is no United States.
In 10 years, I don't think we have a United States of America.
I don't think we have a functioning system as it currently exists.
And sorry, I have a little bandwidth glitch here right now.
And we're about to wrap this up anyway.
And I really appreciate your time here today, Andy.
But I just want to say that where you and I urge people to consider is the fact that gold and silver are your life raft through any of this.
Whether you listening, whether you agree or disagree with our assessments or Trump's plan or Bescent or anything, It's very clear that gold and silver are your life raft through all of this because, Andy, as you say, if Trump is willing to sacrifice the dollar in order to save the debt market, that means he's willing to sacrifice the savings, the dollar savings of most Americans, most middle-class Americans.
That's where their savings are kept, is in dollars.
Whereas it's the wealthy that are involved in the debt market.
It's the large players typically.
So this is bailing out the rich by sacrificing the middle class and the poor.
And the only way to not be made poor is to have medals, in my opinion.
And I'm serious about that.
And Andy, that's why I'm so grateful to have you on.
Can you tell us about milesfranklin.com?
Because you offer gold and silver solutions for people connect.
We do.
And so we publish a semi-weekly price sheet that if you send us an email at info at milesfranklin.com and request it, the prices in and of themselves should be as good or better than anywhere in America, much better than the prices on our website.
And we do it for a myriad of reasons.
I don't want to go through the 50 reasons why I don't post the prices.
We allow small purchases on the website.
You want the special prices, no matter how much you want to buy.
Send us an email.
Say you heard me on this show.
And I always, it's important to say Mike and I have respect for one another.
I don't pay him anything, although if he were ever taking sponsors, I would, but I don't.
He's never asked me to do that.
This is about information.
So, but I like to know where it's coming from.
It's very important to me.
Say you saw us on the Mike Adams show.
Request our price sheet.
Any questions you have and anything you've heard here, or even as far as precious metals, IRAs, or anything, info I-N-F-O-MilesFranklin.com.
Now, if you get our price sheet, which isn't updated every day, and you find stuff cheaper elsewhere, let us know.
More often than not, we are able to offer the best prices in America.
Sometimes we can't.
Most of the times we can.
We've never had a customer complaint in 35 years and north of 12 billion in sales.
And we are in the only state in America, my corporate entity in Minnesota, that requires licensing, bonding, and background checks.
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And knowing that it came from Mike Adams' show, I promise you you will be given white glove service and an attempt to give you the best prices in North America right from there.
And Andy, thank you for that.
Let me repeat, the email address is info at milesfranklin.com.
Just request the price sheet, the special VIP price sheet.
And Andy, I want to say to people, silver has gone up tremendously this year.
So has gold.
It's never, in my opinion, it's never too late to buy gold and silver.
And as proof of that, I bought a bunch of silver at $30 spot a few months ago.
And I also bought silver this morning at 38, whatever it is right now.
See, I'm not sitting here saying, oh, it's too high.
I can't buy anymore.
No, I am constantly stacking and vaulting metals because I know that's the only way to survive this.
And obviously, that's my opinion.
But I feel the same way too.
Mike, there are very few assets in the world that are being accumulated by the most sophisticated, well-informed, wealthiest traders on the planet, the central banks and whoever's draining the exchanges.
At the same time, you know, when you look at it in terms of dollar-inflated or inflation-adjusted prices, we're so far below where we should be.
And the market's been suppressed for a long time.
And you can look at the strain we're seeing on the LBMA and the COMEX, massive strain where lease rates for one month in silver up to 8% and platinum, 30%.
I've never seen those ever.
That's incredible.
And the exchange for physical, or excuse me, the delivery delay out of London, it's supposed to be T plus one.
T is the trade day plus one to settle.
The bar should be moving to you after the third day.
They're at eight weeks now because the Bank of England says we have a shortage of manpower and trucks.
One last point on silver, and I'll wrap this up.
The LBMA right now has 155 million ounce float.
That's what's available backing the contracts.
It's the smallest amount of silver they've ever had since they kept records.
It's 140-year exchange.
And that 155 million ounces is less than one day's trading.
They trade about 190 million ounces every day.
However, they admit, and there was a survey done by all the bullion banks that worked with them a few years ago, where they said that the settlement numbers, the final settlement numbers are one-tenth the amount of trades during the day.
They only post the final numbers, which would mean if you're trading 190 million ounces settlement, but you trade 10 times more than that throughout the day, that's 1.9 billion ounces of silver trading against 155 million.
That's three and a half times the annual global mine supply, almost 15 times the float.
You wonder why they're at T plus eight weeks in platinum right now?
I'm going to read you one.
I don't even know if I can do it.
Can I put my glasses on?
If I have one, if I can find it.
If not, I'll forget it.
I'm sorry.
While you look for that, Andy, look at it.
I got it.
Okay, go ahead.
Here's the one thing I'm going to read, and then I'm done, and I'll take any questions and say goodbye.
This is from a man named, here it is right here.
This is a man's name is Bruce Ike Mizu, I-K-E-M-I-Z-U, formerly head of Chinese bank ICBC's Tokyo Precious Metals Desk, and now head of the Japan Bullion Market Association.
It's like the COLMEX in Japan.
He says the market may already be broken.
He says London appears to have virtually no physical platinum available for delivery.
It seems that there really is no platinum in loco, meaning location, London or Zurich.
Yet they continue trading nearly 3 million ounces per day of London promissory note cash contracts for immediate platinum ownership and delivery.
Something is about to break.
He says paying a 30% interest to borrow the metal makes it reasonable to consider just buying it outright.
He says, I cannot recall a time when lease rates rose this sharply.
He says behind the banks are the actual users who borrow from them.
The mining companies, the recyclers, the jewelry manufacturers, and the industrial users.
Here at the last piece right here, the revelation of the frailty of the London platinum paper market can knock off on other London metals, such as silver, that are also traded as levered cash contract promissory notes, thus lifting the veil on one of the biggest market frauds in history.
And as a side note, silver is now seeing a concurrent surge in its one-month lease rate to a 7% to 7%.
I've never seen it 7%.
For a one-month lease rate, you pay 7% to cover a contract if you're naked.
It's just, this is showing the ends of the system.
Yeah, it's clear.
Silver is going to go into a delivery default.
That's what he's more or less getting at.
Yes, that's right.
Platinum two, real close to it.
Well, and I wanted to add this just to underscore what you're saying.
So remember that Trump and the tech giants announced a trillion-dollar investment in data centers in Texas.
And there are other announcements involving other countries, including Japan, for massive data centers in other states like Arizona.
Well, every one of these data centers relies extremely heavily on silver.
Silver is used in the components, in the connectors, in the electronics, and, of course, also copper, which Trump just slapped another 50% tariff on.
Andy, just to prove to you how much, look, half the secret to my success is that I build for the future.
We started construction earlier this year in January, I believe, on our new laboratory that also doubles as a data center and our new studio building, which is massive when it opens up.
I'll invite you out.
You'll love it.
Well, my team was saying, well, how much electricity do you want to put in this lab building?
And I said, we want 800 amps.
800 amps.
What are you powering a whole like condo complex?
I'm like, nope, I want the infrastructure.
I want the copper, the aluminum.
I want the circuit breakers.
I should send you a picture, Andy.
This thing is outfitted like it's powering hospitals or something.
And I said, because I know all of this stuff is going to double and triple in price.
And I want it in the ground right now where the only way somebody can take it from me is with a backhoe.
And that's what we did, Andy.
We spent a fortune.
We built infrastructure that I can plug in a data center or mass spec laboratory equipment or a robot testing facility or whatever.
And there's no way I could afford it now.
Just even now, less than six months later, I couldn't buy that stuff and you can't get the components because of the trade wars.
So, Andy, my point is these data centers are going to require so much silver that the default of silver delivery is going to be even more exacerbated when they try to build the data centers.
Maybe that's who's bringing back all the silver.
We've seen record deliveries in silver every month, too.
So, you know, maybe it's the industrials who's saying, if we don't do this or whoever is going behind Trump saying this is what needs to be done now, maybe that's why we're seeing all this stuff being brought back.
Let's just try and find a sliver of hope.
Because the one thing about silver is this, it's called inelastic, meaning if there's 12, 15 bucks of silver in this, well, if silver goes to 300 and that turns to $100 of silver in this or $80 of silver or whatever, who cares?
The phone is still a $1,500 phone.
Big deal.
So yes, it goes up.
It costs more, but you need it to make it work.
And it's in such small amounts.
Let's just hope that maybe they realize that they need it.
And that's why you're seeing on the May contract, it was the largest, second largest silver delivery in the history of the Comex.
Who's standing for it?
Where is it all going?
Most of it's leaving the exchange.
Really?
Well, if it's leaving, well, where is it going to?
Defense manufacturers and AI data centers.
And by the way, I'm now remembering my 800 amps.
That's not even right.
I think that was our starting point.
We went even bigger than that.
I think we went 1600, and that's at 240 volts too.
So anyway, the bottom line is- Love to have you as a guest.
I had Bill in the studio last week.
That was a great time.
I know you got to run, but I just want to say to everybody listening, in my opinion, if you don't own gold and silver, you will be impoverished.
I mean, that's, or unless you own like a copper mine or oil wells or something based on commodities, right?
But if you hold dollars, I think you're going to be wiped out.
Now, do your own research.
I'm not your investment advisor, obviously, but I say really look seriously into gold and silver.
Email Andy Shackman, info at milesfranklin.com.
Get a price list.
I don't earn anything off of that.
This is not a paid endorsement or anything.
This is just a conversation among two people who are trying to figure it out.
So thank you, Andy.
Mike, you're the best, brother.
And I'm always psyched to come on.
And we're going to have you on.
And I look forward to picking up where we left off.
But God bless you and your family and everyone listening.
Thanks for having me.
And I can't wait to do it again.
And until then, please, please, please stay well.
Okay.
You too, Andy.
Thank you so much.
Stay connected for just a minute.
And thank all of you for watching.
I'm sorry I couldn't be on camera today, but Andy made up for both of us.
And I got to thank Andy for his time and analysis.
You can find more of our interviews at Brighteon.com.
And thank you for listening.
Take care.
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