Middle East tensions, market chaos, and gold's BREAKOUT moment! | SPONSOR

Summary

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Rebel News Podcast | Real Money Show

Episode Title: Middle East tensions, market chaos, and gold's BREAKOUT moment!
Date: April 11, 2026
Hosts: Jeremy Wiseman and Jerry Coraya (Guildhall Wealth)

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Episode Overview

This episode dives into global financial uncertainty triggered by Middle East tensions, volatile markets, and a surge in gold prices. Jeremy and Jerry explore the systemic risks of “paper” assets versus physical precious metals, the role of central bank behavior, and the increasing challenges investors face in an environment fraught with liquidity concerns. The episode argues for gold as the essential foundation for protecting wealth, sovereignty, and generational security amid both crisis and prosperity.

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Key Discussion Points & Insights

1. The Landscape of Uncertainty: Middle East Conflict & Market Anxiety

• Ongoing Middle East tensions and their ripple effects on global markets.
• Mixed narratives: some forecast doom and monetary collapse, others hope for peace and prosperity.
• Canada’s own political uncertainty adds to a climate where “positioning” is critical, not prediction.

“Everyone seems to have an answer. They know what the outcome's going to be. Some people are negative... Others are very positive about... prosperity and growth.” — Jeremy [00:43]

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2. Gold’s Unique Role: Certainty Amid Chaos

• Central banks globally are buying vast amounts of gold, decoupling from volatile currencies.
• Historical correlations—such as oil and the Canadian dollar—have broken down.
• Institutions, even giants like Goldman Sachs, are allocating more to gold due to market volatility.

“Gold is that certainty that people need, countries need, even companies.” — Jerry [02:02]

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3. Liquidity Mismatch & Redemption Crunch

• Over $14 billion in redemptions from private funds last week; only $7 billion met, remaining requests blocked, signaling a “bank run” dynamic.
• Turkey’s recent gold sales illustrate that in crisis, even nations liquidate the most accessible asset: gold.
• System-wide theme of deleveraging and a move away from speculative assets toward hard, liquid collateral.

“As soon as confidence cracks... they want to take their money out, bottom line.” — Jerry [04:51]

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4. Physical vs. “Investment” Gold: Counterparty Risk

• Essential distinction between investment accounts (with counterparty risk and possible redemption freezes) and physical bullion (direct, universal ownership).
• With physical gold/silver outside banking structures, there’s true sovereignty and global liquidity.
• Paper vs physical: 200 paper ounces per physical gold ounce; 300-400 for silver, exacerbating the risk of “not being the last one out.”

“There’s a difference between investing and ownership. When you own physical bullion... it's yours, it’s universal, it's private. You can take it anywhere around the world and you can sell it to multiple dealers.” — Jeremy [08:10]

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5. Guildhall Wealth’s Physical Ownership Structures

• Three ways: take home, secure storage at an accredited vault, or within registered retirement accounts.
• Fully allocated, fully segregated holdings, “outside of the banking system,” preserving clients’ sovereignty.
• Flexibility allows for generational transfers and direct ownership within retirement vehicles.

“This is key, this helps keep your own sovereignty... This makes sure that you have no counterparty risk.” — Jerry [10:42]

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6. System Risk: Digital Vulnerabilities & ‘ICE9 Events’

• Recent client concerns over cyberattacks; security of manual, broker-assisted, fully physical systems.
• Digital bank balances are just “ones and zeros,” and can be locked or restricted; physical metals can’t be “hacked.”
• Systemic risk demonstrated by central funds freezing redemptions and even large institutions (e.g., BlackRock) injecting own capital to meet demands.

“You can't hack physical.” — Jerry [13:06]

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7. The Money Printing Imperative: Gold as Hedge

• Gold is up over 900% in 20 years despite multiple global crises: wars, recessions, monetary expansion.
• This growth isn’t about speculation, but asset protection: “you can't control outcomes, but you can control where you store your wealth.”
• In both inflationary and “blue sky” conditions, gold responds positively due to relentless currency printing.

“If there’s a crisis, they print. And if things are good, it’s usually because of that printing press...” — Jerry [17:54]

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8. Interest Rates, Dollar Weakness & Precious Metals Outlook

• US Federal Reserve faces dilemma: high rates (for inflation/oil) or cutting for liquidity.
• Recent trends: institutions expect rate cuts, which are bullish for precious metals.
• Gold and silver currently acting as liquidity tools more than as “crisis hedges” but are positioned for upward moves as central banks continue purchasing.

“All of these projections still remain... because these institutions understand the next move is to cut interest rates.” — Jerry [21:55]

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9. Repatriation & Classic Gold Stories: Central Bank Moves

• Examples: France repatriated $13B worth of gold, using proceeds to buy back physical metal.
• Central banks like Czech Republic (36 months), China, and more continue buying; Poland plans to increase holdings.
• Such moves represent sovereignty protection and loss of confidence in fiat systems.

“[France] took their profits... to purchase the physical gold from Switzerland to bring it home. So what does that tell us?... The currencies are going to depreciate rapidly.” — Jerry [25:19]

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10. The Silver Angle: Industrial Demand and Prospects

• If growth resumes (peace scenario), silver’s industrial uses mean surging demand.
• Chronic 6-year silver supply deficits; potential floor under prices to curb manipulation.
• Bank of America and others predicting outsized silver returns.

“Silver is an industrial metal... The demand on silver is going to be immense. It already is.” — Jeremy [27:00]

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11. Gold & Silver as the ‘Measuring Stick’

• Precious metals aren’t valued by price, but act as the real “ruler” for other assets—a mindset shift is needed.
• Current low investor participation means both metals remain undervalued; the next “printing cycle” could compress the move higher dramatically.

“Gold and silver are the ruler, they are the measuring stick... There’s room to grow... before we even get to a price discovery place.” — Jeremy [28:31]

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Notable Quotes

• “If you cannot hold it, you don’t own it.” — Jerry [00:03]
• “Central banks have been buying gold like crazy.” — Jeremy [00:05]
• “You can’t hack physical.” — Jerry [13:06]
• “All currencies are moving down versus the ounces.” — Jerry [26:04]
• “You can print as much money as you want, but you can’t print gold.” — Jeremy [30:03]

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Timestamps for Key Segments

• 00:16 – 01:49: Opening, uncertainty in Middle East, why talk precious metals now?
• 01:49 – 03:03: Central bank gold buying, decoupling, and correlations breaking.
• 03:03 – 05:42: Private fund redemptions, liquidity mismatch, and why gold is liquid.
• 06:03 – 09:10: Counterparty risk, physical vs. investment gold/silver, universality of bullion.
• 10:00 – 12:34: Registered accounts, generational wealth transfers, sovereignty.
• 13:06 – 15:36: Banking system dangers, “ICE9 events,” and frozen funds.
• 15:36 – 17:41: 20-year track record of gold/silver vs. crises; asset vs. investment.
• 17:41 – 20:14: The coming of more money printing, Fed rate dilemma, implications for metals.
• 21:46 – 23:37: Institutional forecasts: $10K–$20K gold, $500+ silver, what triggers those scenarios.
• 24:25 – 26:10: France/central bank repatriations; why true physical is what matters.
• 27:00 – 29:01: Silver demand, price discovery, and the measuring stick concept.
• 29:02 – End: Gold/silver undervaluation, strategy for the money-printing era.

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Tone and Language

• Direct, candid, sometimes urgent (“You can't hack physical;” “You don’t want to be the last one to get out”)
• Analytical but with practical advice
• Empathetic to audience anxieties, encouraging action and self-sovereignty

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Final Takeaways

• Gold and silver aren’t just investments; they’re safeguards against a treacherous, increasingly digitized and volatile financial system.
• Physical bullion held outside the banking system is the ultimate “redemption” in a world where counterparty risk reigns.
• The next crisis or wave of monetary expansion (money printing) could make current price levels seem quaint; acting to secure physical holdings is a protective, strategic move.

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For more detail, listen to the full episode or contact Guildhall Wealth to learn how to own physical gold and silver securely and directly.

Transcript

[A]

If you cannot hold it, you don't own it.

[B]

Central banks have been buying gold like crazy.

[A]

Value your wealth in ounces versus depreciating currencies.

[B]

Welcome to the Real Money show. My name is Jeremy Wiseman. I'm joined by Jerry Coraya. And it's been a week of uncertainty, Jerry. There's a lot of uncertainty regarding the conflict in the Middle East. Peace talks are on their way. We'll see what the outcome is politically in Canada. There's a lot of frustration and again a lot of uncertainty overall. And I feel like this is a good thing to talk about with in terms of precious metals because we don't predict the future at Guild hall wealth, but we certainly help people position for it. And let's talk about all of the things that are uncertain. Of course, along the way here we'll discuss connecting the dots of things that we are seeing. For instance, redemptions in private, private funds as well as central banks continue to acquire physical gold. And we'll give you a story on that. But let's get back to this idea of uncertainty. You know, Jerry, there's a lot of different narratives out there. A lot of, you know, everyone seems to have an answer. They know what the outcome's going to be. Some people are negative about the, about the outcome, that there's going to be a lot of money printing. The stock market's going to crash, very, very gray sky. Others are very positive about the future. They think this is, we're on the verge of the Middle east peace and that could mean prosperity and growth. What's, what's been your feedback throughout the week and also what's your take with regard to how gold should be navigating these type of waters?

[A]

Yeah, I think it's very important to know the role of gold and the why. I think when we see the trend of following the central banks around the world, around the globe, continually buying gold, the important reserve that is decoupled away from currencies that are uncertain, Certain correlations have totally broken down. The Canadian dollar used to be a commodity driven currency. Now that oil goes up, the Canadian dollar is going down. Bonds as well doesn't offer that diversification any longer. Which is why even institutions like Goldman Sachs have allocated a position into gold for their clients. Things have changed rapidly. And in this change of dynamic, gold is that fundamental. Gold is that foundation where things change and uncertainty abounds. Gold is that certainty that people need, countries need, even companies. Major corpse, you mentioned redemptions and we're gonna get into that. I think That's a huge one. You want to have access to your funds. And ultimately that's what gold and silver, physically owned, unencumbered, outside of the banking system provides to everyone.

[B]

Well, let's talk about that in terms of redemptions because we're gonna, we're covering a lot of topics here. Over the past week we had over $14 billion in private funds looking to get redemptions. About 7 billion were honored and there were a lot of capital controls. Effectively there was a lot of, you know, blocking of people getting their money back. And I'm sure I saw another one today. I'm sure there's going to be more redemption requests coming on board because it starts to feel like a bank run. I do wonder if there's a correlation between the Iran conflict and these redemptions as well. Like who is redeeming? Why are they redeeming? Do they, you know, what do they know? Do they know something or are they responding to emotion? And I think ultimately, you know, gold doesn't necessarily depend on an outcome, but we are seeing these redemptions. So how does that play into precious metals? I noticed Turkey was selling gold. So gold is liquid versus equities. Yes, sometimes.

[A]

So it is that the bottom line, It's a liquidity mismatch. There is lack of liquidity. And when they're, when the system begins to crack, the oil that started to spike, we had oil spikes, we had margin tightening, margin rates rising, lease rates rising. It is overall a theme of deleveraging anything that was used as speculative financials. And a lot of this over speculation is being dried out. So as funds are looking to sell assets, you're going towards the liquid. So people are looking to, you know, institutions are selling like Turkey, look to sell, look to the most liquid asset class, which is gold, to raise some funds. But overall they're continually buying, they have said that they're going to buy into the next few months. So nothing has changed. It's a move away from paper and into hard assets as collateral. As far as this, these redemptions go, who would have thought, who would have thought that these institutions like Goldman Sachs, we have Morgan Stanley, before it was, you know, private or smaller regional banks that had the issue last year. But now we have moved into the goose egg, the golden goose eggs. Nothing could go wrong with these institutions. But no, as soon as confidence cracks and the sentiment or confidence dries up, they want to take their money out, bottom line.

[B]

And again these, the idea of sentiment is outcome driven and to find out that your, your funds aren't available would you have that issue if you're holding investment precious metal products versus having physical gold and silver products, could you have the same issues in, in that market?

[A]

That's such an important question I think and people need to understand that what Guildhall does, it's a one to one ownership. You're owning physical bullion, gold and silver outside of the banking system, but in your name you have title ownership of these bars. Unfortunately for the system and people that thought they had exposure to gold and had this wealth insurance that you're looking for liquidity, they quickly realized that there are, there are also derivatives. Many financials and financial instruments in gold are overly printed. The gold, the physical gold to paper ratio is about for one every one ounce. There's about 200 paper ounces available so, or printed. So they're way off. And as far as silver is concerned, there's about 3 to 400 paper ounces for every 1 ounce of silver. So you don't want to be the last one to try to get out of that system. Gold and silver, you don't have that issue. Remember, gold is the largest market in the world, which is what makes it so, so special. Bearing the largest market cap in the world. And silver as well. It's a large market battling for about two or three spot on the, on the market cap. But you have the liquidity and that's what it comes down to.

[B]

Yeah, I think that the key thing here is that if you're invested with a company, a fund for instance, and you're asking for liquidity, there's a counterparty risk and they have the ability to say no redemptions, we need the funds. And they, they hold the cards and they say listen, that's the risk that you took on with physical gold. I'm talking physical, not an investment. It's a universal asset. It's a very homogeneous asset. You can take it anywhere around the world and sell it anywhere. You know, people that have purchased product at a company across the country come to our offices and sell it to us. Right. They might buy from anywhere around the country, around the world. And if it's LBMA approved product you can liquidate it. And if it's not with Gildall, maybe it's with someone else. The point is that it's universal and you can take it anywhere versus there are investments where if you've bought it with a particular company it, you have to buy it and sell it with them. If it's a pool account, you're buying and selling it with them. You can't take delivery from that or you, you know, if you do, it's a arduous process absolutely to do that. So we have to be, we want to create a distinction here or help people understand that there's a difference between investing and ownership. When you own physical bullion, that's yours, it's universal, it's private. You're keeping your sovereignty. You can take it anywhere around the world and you can sell it to multiple, multiple dealers versus when it's an investment, you're bringing on counterparty risk. And we're not saying that that's a bad thing. There's reasons why you would do that. Maybe to keep liquid, maybe you want to trade it, maybe you don't want to pay those costs to get into an asset and own it.

[A]

Fair.

[B]

You know, I explain it as, hey, well, do you want to rent or buy?

[A]

That's right, right.

[B]

If you want to rent, then you don't have to come up with a down payment. So there can be lots of reasons and lots of good reasons to have investments in the gold and silver area. But I think the, the core foundation should be physical. That is universal, that you can take and sell anywhere. Of course, it's very liquid with Guildhall as well. And with Guildhall, we offer three ways to own physical gold and silver. You can buy it direct, take it home, you'll self store it, you'll, you'll have lots of options in terms of selling down the road. You can store it with us at LBMA and IROC approved accredited facility. Now it's ciroc, I think, and it's fully secured, fully insured, you can easily liquidate the product or buy more product on a phone call. Whether you're in Canada or on vacation or somewhere else in the world, maybe you've decided to move. We have got lots of clients in different parts of the world now that call us up to, to sell some product here and there. And we can also offer it within a registered account and with that fully allocated, fully segregated. This is the key for all, for both, it's held in a vault facility outside the banking system. This is key, this helps keep your own sovereignty. Yes. This makes sure that you have no counterparty risk. This is very important when you don't know what outcomes are. This is a situation you can control and, and we do that in registered accounts. A tfsa, rsp, lira, Lyft, riff. You hold the physical gold and silver. It's in the vault allocated to you. You can go and visit your Product, you can deregister it and take delivery, which we have clients do, you know, they don't need their RIF money. So they say, hey, I'll take the physical product or what I like. They take out the RIF withdraw or lift withdraw and they put it into their tfsa.

[A]

Beautiful.

[B]

Which is pretty amazing. They can do that. Or they take it out and they. I've had clients talk about taking the product out and giving it to their grandkids.

[A]

Yes.

[B]

So now we've got generational wealth and

[A]

sell what you would like to sell as opposed to a riff in another institution away from Guildhall. You would have to liquidate to get that cash withdrawal. That's the only option that you have. Whereas with us you can take the cash if you'd like. Option one or option two. A very unique thing is take the physical out in kind and we help you with the entire process. But I think, Jeremy, going back to the whole redemption and this in the topic, I think the key takeaway is what we've noticed in the trend is there's more and more institutions. All of these institutions over the last two weeks, there's, there's a number of them, you know, about seven or eight institutions, major ones. And it seems like every single day it's a domino effect, a cascade of people looking to take their money out of the banking system. We've seen that before during the convoy where a lot of people had their. Was worried about getting their bank accounts frozen. But when we talk about keeping your metal, your physical bullion outside of the banking system, what does that mean? It's really about undigitizing your wealth. As Jim Rickards pointed out years ago, he mentioned one of the biggest concerns and things that we need to hedge against is potential hacks, potential freezing of accounts. People were looking to get, you know, unbank before getting debank or vice versa.

[B]

Yeah, I had a client asked me today, we had a great meeting and he said, well, let me ask you, if they, you know what if they hacked into your computer system, could they buy and sell my metals? Right. I said no, because it's, it's fully allocated in the vault. This is a fully manual system and it's broker assisted. The computer has no effect on it. We're not trading in ones and zeros. It's fully physical and we're dealing in the physical realm. I mean, yes, there's emails or whatnot, but it's all, it's all purely physical,

[A]

all of the purchases.

[B]

You can't hack physical.

[A]

Absolutely not. It's sitting there on the floor. There is no freezing of those accounts. If the lights go out after a while and once the lights go back on and the power goes back on, your bullying will be there. As opposed to banks not singling any bank out. But it's all digital. It's ones and zeros. You've tried to take out more than $10,000 cash out of your bank. You can't get it because the numbers that you see there are just digital. As Jeremy mentioned, ones and zeros, binary code. So it's all digital. By holding physical, you are decoupling and I guess decentralizing your wealth away from that system that is illiquid, that is over leveraged in that we're seeing the cascading of events now. The big issue with those funds is that they promised liquidity but they've built it on illiquid loans. A lot of private capital that are that is trying to be redeemed when too many people want out at the same time. Jim Rickards mentions as well that would be called an ICE9 event. We've seen the CME lockdown. They can just freeze your funds and that's exactly what's been going on. Imagine that you try to take your money out and they say nope, come back in two to three days years. And we are seeing the likes of blackrock having to inject their own funds. They had to actually inject 400 million of its own money to meet these demands. These a clientele looking for their money right now while the cascade is happening. The bottom line is with this liquidity mismatch, when the liquidity dries up, which is the case around the world with Turkey selling, it dries up in the credit markets and the playbook is always the same and gold reacts either way. You need more intervention. More currency printing is on the way. The helicopter money is around the corner. The Federal Reserve will need to cut interest rates sooner than later. Actually I say they had to cut yesterday.

[B]

Well, even Scott Besant came out and said interest rates should be lower.

[A]

Exactly. So ultimately more money printing is on the currency printing is on the way. And that's why this matters to myself and the staff on Guild Hall. We want you to get in touch to find out how you can own physical precious metals the right way outside of the banking system. And it's all broker assisted. There's no buying and selling without your help. Without our help. We will be there for you to talk about the market and help you make the best decision on how to allocate with a balanced approach.

[B]

And I think, Jerry, beyond the illiquid, illiquid liquid, let's just say liquidity issues, beyond the liquidity issues, you have a lot of uncertainty right now with the conflict in the Middle east, the political situation here in Canada. And I think people are emotionally heightened right now. And I just want to remind our audience that gold is up over 900% in the last 20 years. And in the last 20 years we've, we have seen while gold has risen. There was a 10 year bull market in gold where we saw a conflict in Afghanistan, a conflict in Iraq, we had the subprime crisis, we had quantitative easing and gold went from about $300 an ounce to upwards of $1,900 an ounce. Then between 2012, 13 to today, we've seen the everything bubble. We've seen low interest rates, negative interest rates. We've seen continued money printing. We saw a pandemic that led to, in Canada, the highest money printing per per capita of any country. And the, and the printing presses have just continued. And now we have another conflict. And again, we don't know what these outcomes are going to be. But through all of that, gold is up over 900%, silver's up over 700%. And these aren't investments, these are assets. Because you can't control outcomes, but you can control where you store your wealth. And clearly over the last 20 years, the trend is your friend. Now the question here, Jerry, for the future, whether it's gray sky or blue sky, which I'd like to move towards, okay, let's talk about some of the blue sky and, and, and the effects on silver. But where are we at today? If prices are up 900 or the value of gold is up 900% over the last 20 years, what kind of room is there to run moving forward regardless of outcome, good or bad?

[A]

Yeah, well, either way, I think you pointed out what's certain is that gold acts as your hedge and acts as a perform a performer when you position correctly in gold physically. And another thing that is certain is the printing press. It's the same playbook they're going to do in good times or in bad times. If there's a crisis, they print. And if things are good, it's usually because of that printing press providing extra stimulus into every single market. So where are we headed? One thing's for certain, the US Federal Reserve, which has the world's reserve currency and everything is still priced in US dollars, all rests upon their shoulders and laps. Right now the responsibility is Theirs, they are caught between a rock and a hard place, between keeping rates higher for longer because of higher oil or cutting interest rates. And all of these institutions right now that we mentioned before, they require liquidity. And when that occurs, they're going to be slashing interest rates. I think this evening they're going to be announcing the federal deficit. And depending on that number, there is a projection of bringing back the forecasts and projections for further rate cuts. Remember, at the beginning of the conflict, all of these Fed members reduced their expectations for interest rate cuts, which is super bullish for precious metals, by the way. It weakens the currency.

[B]

There was definitely a counterintuitive reaction. Why do you think that was? Well, in the metals market.

[A]

Well, when you have the oil price, then the narrative is inflationary. When you have higher oil, that means it's inflationary. The Federal Reserve has to get off their high horse and start and get to work, which means keeping rates higher for longer, which is pushing the US dollar up. And gold and silver as a trade is negatively correlated to the US is to the US dollar. So right now, if you're newer to the market, silver and gold are not acting like this crisis hedge. I mean, it's coming to, it's coming to life right now. It's acting like what it truly is, though. It's the deepest, most liquid market in the world. And when uncertainty abounds, when, when countries need liquidity and they need funds to, to get by, they have to unfortunately sell their gold positions and repatriate, get that gold back into your possession. And that's another trend that we're seeing, is repatriating. Get positioned in that goal.

[B]

Well, I mean, we can talk about that. I think, you know, price is a real driver of when people get into the market. You see more people buying at higher prices than you do through a fear factor of, oh my gosh, there's a conflict in the Middle East, I should be buying gold. You just don't see that, you know, by the microcosm of your desk. True, you just don't see that. You see, people buy when the price is high. They want to get into the market and if the price comes down, it can be disappointing. But I want to, I remind people all the time, it is like they say in real estate, it's time in the market. You know, there's been plenty of times we've bought at higher prices. And you know, if everyone is buying at higher prices, that's when we are usually making more. So we're buying it at higher prices. But it never bothers me. And I tell, I tell people who are new to the market, especially that, you know, because when you're buying into the market, you're always going to be price conscious. And I was talking to a client the other day, I said, you're not going to remember what you paid in 10 years, but you'll count how many ounces you have and what they're worth today. That's the point in 10 years. So let's, let's. So with that note, you know, that made him feel better. Let's talk about some of the positive things. Let's say that things do end up positively in with Iran, that there's, that the peace talks are successful, the, the straits open, there's prosperity, there's peace. What does that mean for the medals? Is that bad for gold? Is it positive for silver?

[A]

Great question. I think this couples into why the, why the forecasts still remain the same for major institutions. We have Michael Oliver still calling the very, you know, the 3 to $600 silver price. We still have forecasts for anywhere from 10 up to $20,000 US per ounce for gold. All of these projections still remain, and that's by the end of this year. We have two important call options, but by the end of this year that point to silver ending the year at 500 US per ounce and gold over close to 20,000 US per ounce. So the forecasts have not, have not changed. They haven't closed these positions. They're still, they're still there because why? Because these institutions understand the next move. The move is to cut interest rates. So you mentioned the situation in Iran. When that crisis subsides, whether it be a ceasefire deal or some sort of deal, oil prices will drop and the Federal Reserve will be free, free from fighting that inflation, the oil price hike. As oil drops, they are free to cut interest rates and they're going to be cutting rapidly and printing rapidly. But what this means is it's inflationary and the US Dollar could possibly hyper inflate.

[B]

And the, that's not very, very blue sky, Jerry.

[A]

It is, though. The next step to how do we solve that problem of hyperinflating that currency? You need to safeguard that currency, move away from oil, which is not collateral. And the discussion is, and it's a serious discussion of backing the US dollar with gold, backing the M2 money supply with gold, backing the debts with gold. So back to the ratio of where it once was.

[B]

So what you're saying is that if the conflict is in the Rear view mirror. Then the solutions to the monetary problems, like the current monetary setup gets back on the table and we have to then reassess where that is because it really ended in 2008. Somehow, you know, they Weekend at Bernie's, I turned it into a verb that they, that they were able to kind of kick the can. Kick the can, make it seem like this system's still alive. Printed money to back it and keep it afloat. But it's reached its, its end here and, and you've got to create a new monetary system and we don't know what that's going to look like. But with all these central banks buying gold, all roads seem to be leading there.

[A]

Absolutely. They continue to buy, consistent buying. You have Turkey selling as you know, as a result of their need for, for liquidity. But you have the Czech Republic continually buying. 36th consecutive month. You have China going into the market very deep. Uzbekistan, France just repatriated. Talk about a little bit. That's a very interesting story now when we think about taking profit. France had gold stored in the US Fed in New York. And what did they do? They wanted their gold back, so they aimed to repatriate or bring the gold back to France. What did they really own in New York? Truth be told, the gold was actually rehypothecated a number of times, which means

[B]

that speculation, we don't know for sure. But they sold what they had.

[A]

Yes, they sold their position.

[B]

Right.

[A]

And it generated roughly $13 billion in profit. And what did they do? Did they buy some other share? Did they invest somewhere else? Did they buy some land? Or did they invest in, you know, infrastructure for AI? No, they went right back into gold. They purchased their, their profits. They used their profits and proceeds to purchase the physical gold from Switzerland to bring it home. So what does that tell us? They took their profits from this, this paper instrument? I'm going to say it on clear, it was a paper instrument that was in the Federal Reserve because their need to get the collateral back within their reserves was of the utmost important. Understanding that the currencies are going to depreciate rapidly. Doesn't matter which currency you're in. All currencies are moving down versus the ounces.

[B]

It's basically a replay of 1971 and Charles de Gaulle France said, we want our gold back. And they said, well, we'll give you our dollars. And then they turned around and said, okay, we're going to have to take those dollars and buy the gold with it. So, you know, how else can you Speculate other than to say that for whatever reason they couldn't deliver the gold to France and they were forced to, to give them the cash. And then, and then France didn't just say, okay, we'll take the cash and divest it. They actually bought the metal back. And I think that that's a huge sign. I mean, we know Poland wants to increase, we know the central banks are continuing to buy gold. That's, you know, fantastic. It says a lot about, they see where the future's going. Maybe part of it is protecting their own sovereignty, knowing that, hey, there's a lot of chaos, a lot of counterparty risk out there. You know, we talked about the wealth funds, they're feeling that too. If you own gold, you're outside the system, you have your own wealth, you're sovereign, you can now have a seat at the table to help make those decisions. And I think it's very key. They're the smartest people in the world, you don't have to like them. I get that there are a lot of them are governmental and we can all take issue with government, but at the end of the day they understand what's happening to the monetary system and they see the forest for the trees. And I think it's important for us to follow that lead as well. On the silver side. I know we didn't get too much today on the silver side, but ultimately, if there is a good outcome from peace talks and you have growth and prosperity, Silver is an industrial metal. And ultimately what that means is you're going to need. The demand on silver is going to be immense. It already is. Six years of deficits, critical mineral list. They're talking about putting a floor under the pricing, which would be helpful for any sort of manipulation that could be occurring in the market and help us get to true price discovery. And I think as well, I know we've got just a few seconds left here, Jerry, but in terms of where prices are going, we're not yet in a price discovery place. You know, people are trying to figure out what the price of gold and silver should be in dollars.

[A]

Right?

[B]

They don't understand that gold and silver are the ruler, they are the measuring stick. Once they can figure out, well, how many ounces of gold should it take to buy that?

[A]

Right.

[B]

Is it an ounce of gold to buy a suit? Because I can tell you a Brunello Cuccinelli suit is not five grand. It's more than that. Okay, so you can start to say, okay, there's room to run here. When you start to see it as the measuring tool and not the price, not the other way around. So I think there's room to grow there before we even get to a price discovery place.

[A]

Right.

[B]

30 seconds.

[A]

The participation is still down. Silver and gold are very much undervalued. And understanding when they start printing and cranking up the printing press, the money system cracks, the paper system cracks and the flow out of the riskier assets will flow into a finite market of gold and silver. A very small market in silver in fact, which is the reason why bank of America is calling, you know, 2 to 3:50 for silver this year, focusing primarily on the silver to gold ratio. So we use these metrics because unfortunately the measuring sticks are broken, inflation measurements are broken, we don't know what the currency supply is. But you get control of your money when you take your money outside of the banking system, you maintain that control and the access, the sovereignty and you decouple your wealth away from the whipsaws of the day to day conflicts. Conflicts come and go, but your gold and silver will remain the same. Same for yourself and the future generations to come.

[B]

Yeah, you, you, you can print as much money as you want, but you can't print gold. Ultimately, gold is a safe haven. It's got great performance and a long way to go. So if you want to own physical gold and physical silver, contact Guildhall Wealth. We'll show you how to get involved in the market. Whether you want to take it home or store it, or even put it as part of your retirement portfolio. That does it for another edition of the Real Money Show. Thank you so much for joining us. Can't wait to speak to you soon. Catch the Real Money show here on Rebel News Saturdays at 1:00pm if you've missed an episode, you can also catch the Real Money show on our YouTube channel at Guildhall wealth or follow us on Spotify and follow us on Twitter as well. The number again, 1-8778-silver. The website guildhallwealth.com. learn how to have physical gold and silver in your portfolio and we look forward to speaking with you soon.