The Everyday Millionaire Podcast: “Gold as a Barometer of Crisis”

Guest: David Morgan | Host: Patrick Francey
Episode 231 | October 28, 2025

Episode Overview

In this thought-provoking episode, Patrick Francey sits down with renowned precious metals expert, author, and economist David Morgan to discuss why gold serves as a barometer of economic turmoil, how the global monetary system is rapidly shifting, and what individuals can do to protect their wealth in uncertain times. The conversation covers the historical cycles of sound money and fiat collapse, the lessons of recent financial crises, the rise of CBDCs (Central Bank Digital Currencies), and practical strategies for navigating what Morgan calls the “endgame” of the current financial system.

Key Discussion Points & Insights

1. Gold as a Barometer of the Economic System

• David Morgan explains gold’s unique position as an early warning system for upcoming economic storms.
  • “Gold is really a barometer on the entire economic system… It’s giving us an indication that it’s not smooth sailing ahead, that we have problems in the economic system at large and they're pretty significant.” — David Morgan (04:53)
• The cyclical nature of monetary systems: from prosperity to fiat distortion, ending in collapse and a return to sound money.

2. Recent Monetary Shifts and the Crisis of Fiat Currency

• Historical context: The 1971 severing of the US dollar from gold (Bretton Woods’ end) and the resulting loss of dollar purchasing power.
  • “From that point in time until now, we’ve lost probably 80% of the purchasing power of the United States dollar.” — David Morgan (06:54)
• 2007-2008 financial crisis: Instead of letting the system cleanse itself, authorities “papered over the problem,” rewarding failure and compounding risk (10:38).
  • “You cannot solve a debt problem with more debt. But we have tried to do that... Now we’re having to pay the piper.” — David Morgan (11:33)
• Central banks’ current moves (including record gold buying) signal major structural risks in the monetary system.

3. The Individual’s Dilemma: Awareness and Action

• The majority of people lack awareness or trust politicians/bankers who created the problem to fix it, which is misguided.
• “People are starting to wake up to the fact that inflation by far… there’s no chance their salaries or wages are keeping up with the rate of the cost of living.” — Patrick Francey (17:35)

4. Why Own Gold and Silver Now?

• Acceleration phase: Morgan describes a pivotal inflection where the flaws of fiat money become impossible to ignore.
  • Anecdote of silver’s breakout: “Once we broke through [$50], I see it as crossing the Rubicon… We only go forward and we're getting near the end of where this fiat Ponzi scheme gets called out for what it is.” — David Morgan (20:21)
• On the digital future (CBDCs): Control mechanisms are being implemented under the guise of convenience, with potential to create a “prison without walls.”
  • “You are in a prison without walls, but it’s a prison in your mind and most people are going to accept it because… it sounds good to get something for nothing.” — David Morgan (25:16)
• Framing gold and silver: Not just investments, but a currency exchange, a hedge, and protection against systemic risk.

5. Practical Realities: Using Gold & Silver in a Digitized Economy

• Techniques for using precious metals in transactions, including debit cards linked to vault holdings and digital gold currency platforms.
  • “The only one that really knows that I’m spending silver in the marketplace is me and the contract I have with the entity that set up this program.” — David Morgan (29:49)
• As systems degrade, alternatives may become more widespread, with some states in the US already allowing gold/silver for transactions.

6. Timing and Investing at All-Time Highs

• Most of the upside in precious metals comes in the last phase of the bull run—90% of the move in 10% of the time.
  • “Is it a good idea to buy at an all-time high? And the answer is yes. The reason being is this isn’t resolved yet and there’s no upside resistance.” — David Morgan (36:10)
• Psychological barriers, herd mentality, and the eventual shift when the mainstream catches on.

7. Central Banks, Geopolitics, and the Global Stage

• Central banks crossing over from treasuries to gold: a “seminal event.”
  • “The largest holdings for asset stability is now not the United States debt market, but gold itself, which has no counterparty risk, is trusted worldwide and has been for centuries.” — David Morgan (45:30)
• Sanctions on Russia’s reserves acted as a catalyst, prompting many nations to re-evaluate faith in US treasuries and seek “something I can trust.”

8. Personal Journey, Mindset, and Mission

• Morgan’s origin story began with curiosity about the disappearance of silver coins in childhood.
• Themes of integrity, critical thinking, and the moral decay linked to flawed money systems.
  • “The system can’t be trusted because it’s bogus. It’s built on a lie, and a lie never lasts forever.” — David Morgan (51:11)
• The role of education, philosophy, and personal responsibility in navigating change.

Notable Quotes & Memorable Moments

• David Morgan on cycles:
  • “We ebb and flow… In the monetary picture it’s sound money, prosperity, distortion, work to paper only and fiat failure. The unethical system fails back on a sound money system and we get prosperity again.” (06:05)
• On inflation and salaries:
  • “There’s no chance that their salaries, their wages, are keeping up with the rate of the cost of living.” — Patrick Francey (17:37)
• On the rise of digital ID and CBDCs:
  • “It’s a ruse for taking on everyone, everywhere at all times to… basically program them into the new system. You are in a prison without walls.” — David Morgan (25:36)
• On the psychology of bull markets:
  • “It’s hard to buy at the top because… I know I should buy low. There’s times you should. But in these instances, we’re going toward what I call the panic manic phase.” — David Morgan (38:09)
• On the coming global transition:
  • “We are hitting a time where there’s going to be massive changes, probably on a global scale. And you need to prepare for that mentally… Chance favors the prepared mind.” — David Morgan (23:41)
• On generational leadership after collapse:
  • “There’ll be people that are 10, 12, 13, 14 years old right now that will come from the ashes… and rise up and start with a clean, you know, blackboard.” — David Morgan (65:18)

Timestamps for Key Segments

• [04:53] Gold as an “economic barometer” and cyclical monetary collapse
• [10:38] 2008 crisis and “papering over” the system’s failures
• [13:17] Why the general public remains unaware and trusts the wrong people
• [17:35] Inflation’s real impact versus technological deflation
• [19:52] The “acceleration phase,” endgame, and gold’s Rubicon moment
• [24:41] The risks and realities of CBDCs and digital IDs
• [28:55] Can gold/silver be used if CBDCs take over?
• [35:47] Should new investors buy at all-time highs?
• [43:02] Central banks’ shift from Treasuries to gold and US sanctions backlash
• [47:15] David Morgan’s personal story and what drives his mission
• [56:19] The limits of reaching the oblivious and the need for integrity
• [65:18] Resilience, adaptation, and the upcoming “hero class”

Final Thoughts

This episode is a sweeping, urgent reminder of the turbulent financial waters ahead, rooted in deep history but highly relevant for today’s everyday investor. David Morgan’s measured, non-alarmist approach makes a convincing case that “chance favors the prepared mind” and that building awareness, critical thinking, and practical hedges (like precious metals) are not just smart, but essential strategies for an uncertain future.

Recommended for: Anyone questioning the value of gold, concerned about inflation, or seeking clarity amidst exponential change.

Guest Resources:

• The Morgan Report
• The Silver Manifesto (book)
• Documentary: Silver Sunrise (premiering October 22, 2025)

Host: Patrick Francey — The Everyday Millionaire Podcast