B (4:53)

Well, gold is really a barometer on the entire economic system. And anyone that knows the difference between a barometer, a thermometer knows that you use a barometer to forecast the future and give you really good signals about, you know, conditions weather wise. So if you get a big drop in the level of mercury and the bronner says storm and you're an airman or you are a sailor, you're going to look out there and you're going to say, you know what, I'm not taking that, I'm not following flight plan. You know, there's the weather's too bad or I'm not going coming into harbor. So 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. And of course guys like me as you've listened to me, I've been pounding that drum for a long time. And thanks for the compliment because I try to give it a realistic picture, not a sensationalized, fear mongering, end of the world type of a rant. Because we go in cycles. I mean, ecclesiastes, nothing new under the sun. Basically we go in cycles, we ebb and flow. And the ebb and flow in the monetary picture is 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. That's a very broad brush look at the monetary cycle, but it's accurate in, in a lot of dimensions because we go from money we could trust and we trust each other and we thrive to the opposite. So we're in a cycle right now where we're coming to the end of the great empire known as the Anglo American empire, the United States and Great Britain for the most part, in a system created after World War II under Bretton Woods. And we went off of our promise to back the United States dollar with coal. And that stopped about 52 years ago on April 15, 1971. And from that part point in time until now, we've lost probably 80% of the purchase power of the United States dollar. And the mandate for the central bank is to maintain integrity in the monetary realm. Which means that a dollar today should buy what a dollar did. You know, 1913, when the Central bank was out. Obviously it does not. So that's what we are. It's not the end of the world. And what we get is a financial readjustment. We get to reprice things more accurately relative to, let's say, the reality of the goods and services and labor production of people, people at large. It's been distorted. The problem with the system is that it distorts it so bad at the end where we are that you have like the billionaire class, the middle class has been kind of wiped out. There's still some middle class, but we get basically a two class society between those that, that own it and everybody else. And those are the setup for a revolution. Not necessarily one with muskets and you know, gunpowder, but a cultural revolution. Something along the lines of what we saw in the 60s with the civil rights. But this is worldwide. This is not just the United States. Although we have the money power more than any other country, it also is worldwide. So it's a very interesting time to be alive. And it's really an opportunity in a way. Because if the Phoenix arises on a more ethical, trustworthy and level playing field for everyone. We could certainly see probably prosperity like we've never seen before. On the other hand, if the bankers contain the system under their maximum control, which is what they want, then we could be looking at some bleak years.

A (9:10)

So when you consider, I've always, you know, it's not a secret that we used to, you know, joke that because I'm based in Canada, but I very, very close to, like, I follow what's going on in the US have for years very closely. You know, it's the old story of when the U. S. Sneezes, Canada catches a coal. But there's, there's. So it's a reflection that Canada is often a reflection of what's going on in the US we're at the effect of it. We're at the effect of it right now. We continue to be at the effect of it with Trump and his tariffs, etc. But, I mean, that's a. But back to what you just said earlier, which is this is a global thing. I mean, you opened up a lot of different threads we could pull on. But I want to go back. First off, you know, we talk about 71 and I'm, I think you said 71, which was the disconnect from US or from gold as a connection to US dollars, that US backed $. Is that correct?

B (10:03)

Absolutely. And the year's correct. 71.

A (10:07)

Okay, so then we come ahead and then was, was it fair to say that 2007, 2008, when that kind of the great financial crisis as it's referred to, was that the next real big change in monetary policy, when all of a sudden we had these M1, M2, quantitative easing, all of these terms that we weren't familiar with so much, they became almost mainstream terminology. But that was the big. What was, was that another shift, big shift in how our monetary policy operates?

B (10:38)

Absolutely. People forget that a true free market, a true capitalist system guarantees you the right to succeed, but it also guarantees the right to fail. And true free market capitalism, if you make a product and the market doesn't like it, guess what? You're out of business. You failed. The people voted with their Canadian dollars or their US Dollars. I don't want to buy his product. And that's how the system has basically no bias. The market itself determines what's wanted, what's needed, what's coveted and what is shunned. However, when we got to the 2008 crisis, rather than let the market clear and take out all of the banks, all of the phony baloney mortgages, all of these people that were qualified, that didn't qualify and let the system reset with a new price mechanism based upon the cash in the system. People that couldn't afford their payments get reworked or whatever. So the system had the opportunity to basically go down, hit a bottom and come back up, cleanse itself and restart. But that's not what happened. Now we have the authority figures that are that demand that we don't suffer, that we will print our way out of it. Big daddy's going to take care of it. You scraped your knee and let me take care of it. Well, it's more than a knee scrape. But we pretended that we could fix it. And from that point till now, all we've done is basically paper over the problem. You cannot solve a debt problem with more debt. But we have tried to do that, that and it's actually worked for quite some time. In fact longer than I expected. But now we're having to pay the piper. So rather than let the market cleanse itself, determine the winners and the losers, get through that painful period of perhaps a year or so and come back stronger than ever and rebuild from a good foundation, we pretended everything was okay when it wasn't, we started to reward failure. And you can't reward failure in a true free market. You're actually asking for bigger problems. And that's where we are. So we're in a setup right now where gold, again coming back to your original question is telling us in very loud terms that things aren't right ahead and you need safety. And gold has been a harbor of safety for financial problems, basically for the history of the monetary system.

A (13:17)

It's hard to imagine how the general public, it seems, and this is a global, you know, you talked about earlier, I mean the game has changed globally. So we look at, and we look across and around the world. There isn't a country that isn't struggling with similar issues, whether they be. Immigration is always a big one, seems to be really out there. But certainly when we look at economic, what do you call it, Many countries or most countries seem to be on the verge of some kind of economic recession or economic. Economic downturn. Significantly we're seeing the. This goes back a little bit to the individuals who created the problem. And I'll point to government and, or bankers, the general public, that the less informed are crossing their fingers that those same people that caused the problem are going to fix the problem. But most people don't understand how the problem got created and what caused it. In the first place. So they go back to, okay, well, the banks and the government have got to fix this problem, which we. We know is not happening. So as a matter of fact, it's. It seems to be getting worse in terms of the politics and what's unfolding and, and the geopolitical. On a macro, you know, you got east against West. That seems to be escalating more and more. Whether we go to, you know, whether Russia and Ukraine, you know, crank it up and NATO, all the things China. I mean, there's so much going on. People don't seem to be asking the question of, how do I survive this? Like, how do we get through this? And I'm talking about the general populace. So you. I mean, you were talking about a lot of these issues so many years ago, David. And again, is. I was paying attention a little, but I was in my life, I was doing my life. Business was good, things were good. It wasn't for my close friend, we wouldn't have started looking at gold and silver. We bought it just because we trusted that guidance, but we didn't really understand why. And when he spoke, it was like, yeah, okay, a little bit of tinfoil hat, a little bit of conspiracy theory. So we didn't really. But a lot of this stuff is just coming to fruition, and it keeps escalating. So you started producing, you know, you produced the Morgan Report. You started doing that how many years ago now? Quite a number of years ago.

B (15:35)

Yeah, about 1999. It's been like 25, 26 years.

A (15:40)

And what was the goal of that? And you still produce the Morgan Report. What's the goal of that report?

B (15:47)

My mission statement is to teach and empower people to understand the benefits of an honest financial or monetary system. Because the main lesson here is that you cannot get something for nothing. I mean, you teach your kids, your grandkids, your associates that, you know, you gotta work for it. You don't nothing. You know, Nana doesn't rain from heaven. You got to go out. And yet the whole system is based on that lie. Because the banking elite, the money masters, do get something. They're able to create what we call money with the click of a mouse. And so they're getting basically the control mechanism for all of humanity, really, because everybody needs money to live, more or less. They control that, and they basically produce it for basically very little cost. And yet it imposes their authority, the money power, over our labor. Because really, when you get down to it, what are we getting money for? We're getting it for our creativity, be it a manual labor or intellectual labor or combination thereof. And we should be able to save our value, our labor for future years if we choose to. But if you save it in their currency, you're going to come out a loser. And that's kind of the main message. If you save it in real money, you're going to at least break even with those hours you put in 10 years ago. 10 years from that time till now. The value of your labor is going to maintain itself under gold and silver, whereas under a paper system or debt system you're probably going to lose. Depends on how fast the inflation's going, but you know, half of the value.

A (17:35)

Well, I think, and people are starting to wake up to the fact that inflation by far, and it always has, but it seems to have been managed or not so bad that people weren't catching on. They're really catching on now that there's no chance of their salaries, their wages are, are keeping up with the rate of the cost of living. And as much as we talk about technology and the deflationary impact of certain technology, the things that we need to live on, like food, fuel as just an example, shelter, those costs are not coming down. And there's, and there's certainly no future that says they're going to come down where they'll actually be more manageable in terms of the income that most people are generating. So when you look at what we're talking about today, I want to just say is that the biggest light I think we have to shine on it, on what's going on economically, is that in order to actually, I don't want to use the cliche of not only survive but thrive, but really to really survive what's unfolding right before our very eyes, we're in the middle of it, is first you have to have the awareness that it's happening and then you have to ask yourself, well, how do I stay ahead of this curve when all I've got is a job and I'm making a little bit of money and I can barely pay my bills. We have to say, well, how do we, how do we survive this? How do we hedge on this? Precious metals, gold and silver are one of the ways that we can actually stay ahead of what's unfolding right now. When you look at what's happening in the past, let's say 90 days where silver and gold are hitting all time highs, what's the message that, what is it saying to you? Are we really that close to the inevitable breakdown of Fiat currency, the decoupling. Is there a chance that us will lose reserve currency status? I don't think so. People talk about it and going E, that's a bit of a stretch, but there's going to be, even if that was to be in the future state, there's going to be a lot of pain between now and then. And how do we protect ourselves? But how do you, when you look at gold and silver right now, David, what are you seeing unfold that it's happening so quickly right now that the big escalation is on and it doesn't seem like I'm sure there'll be a pullback, but holy cow, it's just on a tear.

B (19:52)

Yeah. The market is signaling many things. I mean, I'm a student of the markets and not just the precious metals markets, although I focus most of my time on that sector, but the general equity market, the bond market, the debt markets, currencies, all of it. And what we see at the final stage of the, what we can refer to as the end game before this whole system that's based on a lie, we can get something for nothing as long as we're the bankers and government protects us. It gives us that monopoly. Once that starts coming to an end, which it is, then you get what I call the acceleration phase. I wrote a piece recently about the Rubicon. Crossing the Rubicon when silver broke through the $50 level. That's been the nominal high, not in real terms or inflation adjusted terms, but a nominal number 5, 0. And once we broke through that, I see it as crossing the Rubicon. We've gone over that place where we can't look back. We only go forward and we're getting near the end of where this fiat Ponzi scheme gets called out for what it is. We've got to come back to a system that hopefully is more trustworthy and helpful to society at large. Now, the bankers don't want to give up their power and the politicians certainly don't want to give up their power and they're in alignment to keep the system as it is. Or, and actually this is what's taking place to adjust the system to some type of new methodology such as a central bank digital currency. You maintain control and give the illusion that things are going to be better. And this massive debt that's a worldwide problem has been taken care of. And all we have to do is hit the reset button, get a universal basic income. Everybody's taken care of, because after all, let's not be sovereign individuals that take care of ourselves. Let's let Big Daddy or Big Brother do it for us. And this is kind of that victim mentality that's been pervasive throughout the United States and other parts of the world, that somehow or other someone owes you living, which is really the exact opposite of rugged individualism, which means that we get to determine our own destiny. So there's been a psychological warfare going on between what we would call the idealism of a capitalistic system where the market itself determines our well being, for something more along the lines of what's now called a technocratic system, where the algorithms and the computers and the authorities know what's best for us and we submit to that authority. So it's definitely one of the most interesting times as far as looking at not only our individualism, perhaps our individual countries, but more or less what we determine to be our future going forward. And right now it favors the banks, they seldom lose, but yet we never really know. And what we do know is if there's enough people that say, okay, I've had enough, we're not, you know, we're not going to participate, we're going to opt out. Instead of the great Reset, it's a great reject and people reject the new system. Look, your fiat failed and you think you could fool me into an electronic fiat. It's going to be better get lost. So it doesn't take a majority to overturn a, a system, a way of life, going to the Revolutionary War or France with the Sagna or the Weimar Republic. And it's not always monetary problems. It could be anything. I read several books of course, but you know, the collapse of complex societies gives a good overview of how collapses happen. And it's not always monetary, although often it is. It could be weather, it could be crop failure, it could be invasion by a warring party. The point I want to make is this. 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. I love the expression chance favors the prepared mind. If you prepare yourself mentally that okay, this could happen, you actually could ride through the storm a little easier than if you are dependent on, let's say, groupthink, that the propaganda press will pour out incessantly, but as long as you're got the latest iPhone, everything's going to be okay.

A (24:41)

When you talk about CBDCs, you know of course what they're talking about here in Canada, they've already kind of started that. Not to the extent the UK has. They haven't made it mandatory, but they're certainly talking about digital IDs and the convenience of digital IDs and you know, without going down the rabbit hole of where that is going to lead to. I think ultimately it just sets everybody up for central bank digital currencies and then that ultimate control that they seem to want to have. What's your thoughts? Do you think the, the digital ID is just that first step? That's how I see it. What's your thoughts on that exactly?

B (25:16)

They, the bankers want to have, you may say, the authority figures, I mean the, the money masters in the political class basically go hand in hand. The political class is out there in front where you see them on tv. People think they have a lot of power actually. They're, they're ruled by their puppet masters. But regardless, the idea is that, well, we've got to get rid of the illegal aliens that have come into this country and the only way to do that is to recognize everybody. So we need a digital ID so we know who's who in the zoo and the people that belong in our zoo get sent back home or whatever the case may be. But really it's a ruse. It's a ruse for taking on everyone, everywhere at all times to able to basically program them into the new system. Which means you're going to have, as I said earlier, ubi, universal basic income for many people and you're going to be taxed at the point of sale. You're going to be told how many calories you can eat. You're going to be told what your carbon footprint looks like. Yes, basically you are in a prison without walls, but it's a prison in your mind and most people are going to accept it because one, they don't know any better. Two, it sounds good to get something for nothing because now we're playing their game, you know, I just have to stay home and get. But what it does is it makes a two class society of society of oligarchs, the very, very top and the plebs everywhere else. In other words, it's a feudalistic system where you have the king and his court and that's the very, very few at the top and everyone else is a peasant in the field. As a metaphor.

A (27:02)

Yeah. It's interesting is when I look at what is happening because there's all those individuals that go, you know, I'm not seeing it. I think you're full of shit. And I always look at it and I go, okay, well there's possibilities and then there's probabilities. Out of those possibilities and those probabilities, you look at it and you go, okay, what's the downside? So I look and one of the things I had to shift my thinking around was I quit looking at, in our case, gold and silver, even Bitcoin for that matter, because I own Bitcoin as well. I looked at it not as an investment. I looked at it more as I'm exchanging fiat currency for something else. You know, I'm not. It's just an exchange of currency and an exchange of currency in the precious metals. In the, in the case of, of gold and silver, it's okay. I don't want to hold it in my bank account because I know it's disappearing in my bank account. I also know it's at risk in my bank account because it just is. That's what happens in the banking systems. So I looked at it and I go, well, what's the downside? You know, even if it's a, a 50, 50 chance, there's no downside to it for me. That's how I looked at it. You know, why not exchange it? There's no downside to doing that. So that's how I kind of got in my brain where then of course, as things unfold, you start to get more confident and you're just going, no, this is really unfolding in front of us. We can see it happening. One of the questions that comes up often, though, when we talk about gold and silver, you get the skeptics going, yeah, well, what are you going to do? You're going to all of a sudden try and pay for your, you know, your groceries with a chunk of gold. How do you respond to that? Like, so if we go into the CBDC world, which we seem to be going in that direction, what, where does gold or silver play into that? Where does physical metal as any. If you, if I've got physical metals, what am I doing? If we're doing cbdc?

B (28:55)

Yeah, well, that's a great question. First of all, there are ways to use gold. Now with the modern technologies. For example, there are digital currencies that you can use gold by the grain or the ground. In fact, here in town where I live, there's a guy that's a friend of mine, and it's a long story, but it came up, I was talking about, how do you do this? And I suggested that you have like a depository and then you have a debit card. So it's. The debit card is backed by your gold and silver, the storing of all. And now when I swipe my debit card at Walmart, the merchants doesn't know anything other than it goes through the normal banking system. But on the back end, I'm actually paying in silver. That's the closing price on the LVMA that day. So there's no what minute did you swipe it? No, we all agreed on the terms, which are the close of the LBMA every day. That's the price you're going to get when you swipe your card during the day. So it fixes it at that price, it takes out that amount of silver and it pays the bank in fiat. So that's a good way to do it. It's transparent to everybody. 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. So what I love about it is I could deposit silver and gold into this account, use it as required. But if there's a bank failure and I have two sides of the account, I've got precious metals on one side and fiat on the other. Because when I deposited silver at, you know, 32 bucks and the price was 25, I really didn't want to spend the silver, so I spent the fiat. But it all's taken care of in a monthly statement. If you got a gain or a loss or whatever it is, and it works beautifully. The problem is that the bank really doesn't want many new accounts. But going back to my statement, I lost it for a second, was if there's a bank failure and 80% is the precious metals and I lost 20% in fiat, I'm still in great shape because that metal is in a vault with my name on. And even if the system is, let's say, stymied for a couple days, a couple weeks, my life savings is more or less intact. Whereas if you're in a regular banking system and there's a bank closure and it's all in fiat, good luck.

A (31:28)

I guess there's a part of it too short of the ubi. I mean, if we go to CBDC and we assuming that it's not all ubi, I guess arguably if I walk up to the bank with some gold or silver and exchange it, they would credit my account perhaps for that digital currency, assuming. But I don't know. Do you have any insights into that, David?

B (31:51)

Well, I think your insights is as valid as mine. We really don't know. But gold and silver are never going to go away. In my estimation, especially silver, you can't run a society without it. So there'll be some mechanism to either digitize it and hopefully there'll be competing currencies. I mean, right now in the United States, there's 12 to 14 states that at one level or another have different taxing ideas about precious metals. And in some states at law, you can use gold and silver, any transaction whatsoever as long as both parties agree. Now, that doesn't work too, on the corporate world, outside the example, I just gave you this debit card, but in the real world, I could go to a mom and pop restaurant and probably spend my silver or a, you know, farmer's market or something that's independently owned that are going to corporate America and put that, you know, gold coin on the counter and say, you know, want to buy something from Walmart? That's not going to work. Now, if a system starts to degrade more and more, you could get to a point where not necessarily a Walmart, but more corporate type of facilities would start to come around and think, maybe it's legal for us to do it. How do we do it? You know, and then of course, going back to the example I gave, best way to do it is buy a bookkeeping entry and settle the physical metal every, you know, three months or something. You don't want to haul around a bunch of gold and silver all over town every day for transactions. You just want to make a bookkeeping entry. And then, you know, you could settle if you want it, on physical, you know, like once a year, once every six months, whatever. But it is a system that could work in today's world without too much friction, but yet it's something that you're not going to hear any politician.

A (33:48)

So when you're looking at, you know, especially for new investors or somebody who's maybe listening to this and going, gosh, I should be paying attention to what's going on in the gold and silver world. I think, you know, I, you know, the message I try and put out there is, you know, we've got a changing, a dramatically changing world, global macro, big changes. Banks are, you know, central banks around the world are loading up on gold, I think, and silver and ultimately the, I don't know, we'll call it cultural, the polarity, the divisiveness. There's so much happening in the world and we're now seemingly, I don't know of any place. I mean, you got a dictatorship, but are we really being governed by government or are we being governed by NGOs that are playing whatever games they're playing in the background. And we don't know, we just know that it's. We don't know for sure. We make assumptions and maybe you would know a lot more for sures than I do. But we look at what's going on in the world and I just say okay, because I'm a business guy, I'm 67 years old, I've got a daughter and a couple of grandkids. I want to make sure I'm looking after them. I own real estate. So when I look at my portfolio overall I'm going, where am I, where what is my hedge? How am I staying ahead of the inflation that is in fact happening or the collapse if you will, the devaluation of fiat currencies. Either way, I want to hedge and I want to stay. So somebody who's listening to this that doesn't own gold and silver, we're at all time highs. What the heck are we. Is it still a good time to buy gold and silver? You know, or in the real estate world? I say boom cycles cover a lot of real estate investors. Mistakes and slump cycles are when they pay for those mistakes. Where are we in this cycle do you think of gold and silver and is it still okay to kind of add to a portfolio right now at these prices? It is.

B (35:47)

We go in cycles and I'm been commented on many, many times for making this statement that 90% of the move comes in the last 10% of the time. And that's true of most markets. I mean you look at the stock market and there was an acceleration phase. You go into the NASDAQ back in 2000, there was a huge move into the dot com sector which most of it was overblown and over promised. And Tom, it went down just as fast as it went up. So we're in that part of the market now where people are questioning everything we've talked about for the last half hour or so and they look out and they say, well, is it a good idea to buy at a an all time high? And the answer is yes. The reason being is this isn't resolved yet and there's no upside resistance. In other words, when you get in an acceleration phase, people don't believe it. They climb the wall of worry. Well, gold can't go up four more days in a row. Can't. It's got it correct. Four more days in a row it's up. Well, gold's got a pause here somewhere. Goes up four more days in a row. So we're in that phase of disbelief. So the people that bought early probably aren't adding, although they could. And the people that are late to the party only think they're late based on psychology but not reality. The reality is that the market has to come back to stability. Gold and silver are telling us that barometer is correct and we've got to weather the storm and how do we do it? And if on a cash basis you want real money and so there will be more money coming into the sector and we'll see that big move. You go back to 1980 as an example, 1979, January silver was $6 the ounce. January 1980, one year later, silver was a $50 a ounce. It went up 850% in about eight months. So we really got something like, I think it was like 89% of the move in like 7% of the time. So you know, the idea is that this is the easiest money to be made, but it also takes more intestinal fortitude to say, oh man, I'm buying that apartment building at an all time high. Not realizing that that's the only apartment in town and you're going to be able to raise the rent, you know, three times over the next two years. I mean, that's probably not a great analogy, but it's hard to buy it at the top because wait a minute, I know better. I know I should buy low. There's times you should. But in these instances where you in the, let's say, going toward what I call the panic manic phase where people say I'm sick and tired of going down to one of your groceries there in Canada in Vancouver, and dang it, these apples are up another 30% from two months ago. I'm going to fricking buy some silver because I can't take it anymore. They are killing me. And so I've got to do something. And that psychology starts to emanate. The inflation psychology is more, not about how much money they've printed, although that's the cause. It's the repercussion of once that, let's say wake up call becomes more and more noted by the general population, they you cannot turn it off. You could actually get back to where there's no inflation, which is almost impossible to do. But people's psychology is things are going to cost more. Next month I'm going to buy all, you know, I'm going to hoard, you know, cans of tuna and I'm going to buy some silver or whatever the psychology is it shifts and they get panicked. And what's the way out of the panic? Well, what's worked for thousands of years of precious metals. And that's hard to turn off once it becomes readily known that, hey, this works. The silver works for me. Oh, yeah, maybe it only goes up six days in a row and then it corrects a little bit. Oh, I knew it was going to come down. It does it for two days and it keeps going up. So we're in a system that the metals are screaming at us. We are in the last phase of the currency experiment that we've tried so many times. The problem is we never really had it on the scale where it was a worldwide phenomena based on the reserve currency of the United States and a full faith and credit of the United States, which means the labor force backing up the currency of the United States. The problem is we don't have the labor force and productive capacity to back up the dollar. We have to borrow into the future for money. We don't have to get things. We don't need to try and tell the world that everything's going to be okay when we're actually living on basically borrowed time.

A (40:47)

And that statement right there, we're living on borrowed time. I mean, that just on its own should be a wake up for anybody who's questioning, you know, should I look into this further? Yes, is the answer to that question. There's a couple things that showed up for you as you were speaking, David. One is which you know, from six bucks to 50, you know, in eight months. I don't remember what year you said that was.

B (41:06)

Was it is late 70s, 79 to 1980.

A (41:10)

Yeah. So but when you think about that, and we talk about where we see gold or silver today at 50 bucks, 54 bucks, whatever the number is today specifically. But when you, when you make it relative to the late 70s, that $6 versus the 50, I mean, really, is there, I mean, other than the number, when you look at buying power, is there a real big difference between 6 and 50? So we look at 50 and it looks like such a big much. Looks like a much bigger number. But when you actually look at the value of that 50, it probably equates more to the 6 bucks back in the late 70s. Just a random thought process. I don't know if I'm on point with that kind of a thought process or not.

B (41:50)

You absolutely are. If we go back to 1980 and gold peaked at 8:50, January 21, 1980, and you looked at what the Austrians call the base Money or true money supply, you actually to go back on a 100% gold standard, you needed at the currency supply at that time, eight, $400 gold. And yet we had $800 gold. So we had a two to one cover clock, coverability at that time. To do that again, where we could go back on the base money supply being covered by gold, we need $20,000 gold. So, you know, you go from, you know, let's round it up to $1,000 gold, even though it was 400, but let's go to 500, but now it's 20,000. So you're looking at what? Well, thousand would be 20 times, so 40 times. So we've depreciated that dollar by multiplying it by 40 from 1980 till now. So it's worth 1 40th in purchase.

A (43:02)

And I think we have to look at what's going on globally. I mean, we know that central banks around the world are loading up and that's certainly an indication that something is amiss. And we can look at it and say politics and, you know, they want to depart from the US and get from underneath that control. We did see, I just saw a recent chart where I think for the first time maybe in history, where more gold than Treasuries, they just, that graph showed those lines crossed. I mean, that's a huge. To me, I'm going, I'm not that smart. And I'm looking at this going, there's trouble in the hood right there. I mean, that in itself is such a huge statement that they're getting out of China for sure and others are getting out of the US Dollar. That whole BRICS conversation, in spite of Trump's rhetoric going out of the bricks, they're all coming back now. They're all changing their mind. They're not going to be doing that thing anymore. And I've gone, yeah, okay. No, I don't think you're right about that, Mr. Trump. But having said that, there's maybe some degree of truth. That's how I read that chart, though. I'm going, that is not good news. How do you see it?

B (44:16)

Well, I see it as a seminal event. I've said this before and I think it bears repeating. What happened with the sanctions on Russia was probably the biggest coupa in the financial sphere in probably the last century. Because war, no war. Right or no right or wrong, you don't mess with the money system. And when the sanctions came in, the United States said, we are freezing your 300 billion in United States debt. We own it. And not only do we own it, we can give it to the Ukrainians if we choose to. So that's basically stealing. It's for nigging on your word. And so what did that do? Well, it really put a light bulb over everybody else in the world saying, well, wait a minute, if we aren't politically correct in the eyes of the United States, what if they freeze our funds? I think I'll go to something I can trust, like, let's work for 5,000 years. I'm selling this US debt and I'm buying gold. And that's why I said the role, the run to gold has begun two years ago because two years ago the smartest money, the bankers were moving out of treasuries and into gold. And now we see the curve you just mentioned where 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. And it's really saying that we don't have far to go. Again, going back to the barometer, the waves are starting to hit the shore and if you can't see it by now, you better take a look pretty quickly because there aren't many safe harbors left. And there's nothing magic about gold other than how it's worked in the past and the trust in it. Because if you cannot trust the government to live beyond, you know, live within its means or make good honest promises and you don't trust it, which is where we're at. Who do you trust? Well, you trust something outside of the system, something that doesn't have counterparty risk, as I said. And that's what the bankers are banking on. So we could go toward a CBDC and it fails miserably and they're still in good shape. Why? Because they still own the gold. So you could go back on a gold coin standard out loud. Not that we ever would, but in the absolute worst case, let's say you could go back because the bank still owned the majority of the gold. And we could go back to something that's always worked in the past. I mean, when Sir Isaac Newton was knighted to become sir, it wasn't because of his Newtonian physics, which everyone believes is because the bank of England was in huge disarray and you're having massive problems like we are now. And to solve that problem, he put them back on a gold standard because it brought everything back in stability.

A (47:15)

They united it as we kind of. I want to fade. You've been really generous with your time, David. I appreciate it a lot. I want to know a little bit more about what you've got going on because, and I wanted where to go with this. So first off, I do want to know, you've been doing this a long time, but what got you on the path of looking at what's unfolding in the world and going, yeah, something's not right here. And then you go on this journey of research and looking behind, lifting, you know, what's behind the curtain kind of conversations and you start to see just how messed up monetary policy is getting government. You study, you, you, you were part of a, I think a documentary called the Four Horsemen and you've got another one coming out or has it been released? Silver Sunrise, I think it's called, it's.

B (48:02)

The 22nd of October, just next week.

A (48:05)

Next week. Oh, congratulations. I look forward to it. And then, so what got you on? And then you had the book called the Silver Manifesto, correct?

B (48:15)

Right, yes.

A (48:17)

So you got lots out there, you got Morgan Reports, Silver Manifesto, you've got an upcoming documentary, you're out there, you're passionate about this as you've been kind of your life's work. How did you get on this journey, David?

B (48:29)

Well, I think the real beginning happened when I was 11 year old kid and the coin has changed from silver coins to what I call Johnson slugs. I mean after the Kennedy assassination, Kennedy had proposed with Executive Order 11101, I believe it is. I have to look at, I think that's correct. And he was taking the money power away from the Federal Reserve System and giving it to the United States treasury. And they were printing currency that said United States Note at the top instead of Federal Reserve Note. And they were circulating side by side with the Federal Reserve System. And many, many, many people say it was going to be silver back, which is incorrect. It was not and I'll stake my reputation on that. I discovered it wasn't. G. Ed Griffin, who wrote Creature from Jackal island, said it isn't. Probably one of the best researchers out there, James Corbett, also proved it wasn't silver back, but it was treasury back. Well, he was assassinated. And what happened? The first executive order that was taken down under the Johnson administration was that executive order that Kennedy had put in. So the bankers were back in power and you could prove this. It's, it's, it's well known among the monetary enthusiast or students of monetary history. So there have been attempts to put the money power back into, let's say the public utility in other words, where banks exist for the good of the people rather than banks exist for control of the people. And that's kind of part of what this, my documentary is all about.

A (50:12)

So when you was, did your, were your parents entrepreneurial in spirit? Where did they support you on this as a young man kind of figuring this stuff out? Were they, were they going, okay, so we got a weird kid or were they like, oh no, you gotta keep going down this path? How did they, how did they look at their young son going down this path of a little bit of craziness? I'm sure it landed that way.

B (50:37)

Respected my ability to be authentic in my purpose, why I was here, what my duty is, what my calling, and a bit of fear. Like, holy crap, you are taking a bite into, you know, the big picture, man. You're taking on the global bankers. I mean, I don't think my dad necessarily thought of it in those terms.

A (50:55)

Yeah.

B (50:55)

But he understood that this wasn't like, you know, coming up with the best sailboat that ever existed or, you know, the best race car that ever existed. I'm taking on a problem that is the money powers control over humanity and I want to make that wrong. Right. So he was, I would say proud and fearful at the same time. Like, do you really know who you're fighting, David? This is like Goliath on steroids. But he supported it because he knew I was passionate about it and it meant something with real purpose and meaning for me. And when people understand where I'm coming from, like the, you know, mission statement to teach and empower people to understand the benefits of anonymousness, I mean, that's what we want, we don't want to be lied to. I mean, it's a confidence game, A con artist is a confidence man or what, they gain your confidence and you could trust them, but the system can't be trusted because it's bogus. It's built on a lie. And a lie never lasts forever. And now we're coming to terms with that. And many people after the great reset, however that looks, will do the one handed clap and they'll go, oh my goodness. It was so obvious. These crazies like Morgan were telling us for the last 40 years that we were going to reach this day of reckoning. And I thought he was a nut job the whole time.

A (52:17)

Yeah. But you know, it's interesting is that some people definitely thought that. I know for myself, I just never took the time to dig deeper, but I didn't think in that space. I, I personally Was kind of going, I, it all makes sense to me, but I wasn't doing the research back then that I'm doing now. But I mean, the Internet opened up a whole different world. And then you add AI to it most recently. But you think about, like I'm thinking about going back four years, 30 years, 20 years when you were doing this work. I mean, you're almost going to the library, digging this shit up because there's, it's not like you're googling stuff back then, right? Like, so you're.

B (52:55)

Oh no, it was extremely hard. Sorry if I interrupted. I mean, one of the first things I did on my own dime was to print out a two page piece of paper and mail it out to what we would call now influencers, explaining that the Federal Reserve was a private corporation and what these problems would lead to in the future. And I saw inflation ahead and I did that probably in my 20s. And I got a nice letter from the Postmaster General telling me to cease and desist because. No, yes, because of this. I forget if you use the word propaganda, but basically, you know, misinformation, which is absolutely incorrect. It wasn't anything, you know, nothing but the truth, the whole truth. So helping God is what it was. But they didn't want to, you know, they don't want these dissidents, you know, these truth tellers out there. So no, I've come on a long journey and you know, going back to one of the earlier questions, you know, the currency got me started, but I started to look into it on my own, under my own power. Yeah, Law, libraries, libraries, no Internet, talking to people. And I start to get into reading some of the hard money advocates of the day. Looking at von Mises early on, the Austrian school. And then I started to hear about these lecture circuits that were done at investment conferences about what we used to call the honest money move. And I heard a few of those lectures on tape. It inspired me to go even further. And that was kind of what put me into the position of that's what I want to do for my living. That's what I want to do. I want to stand up, I want to write, I want to speak about these problems and what the solutions could be. And if we don't pay attention, we're going to have a decreasing lifestyle, not an increasing lifestyle. And what we need is something that's a level playing field. We need a fair system for everyone, not a bifurcated society run by a ruling class. As I said earlier, going to a feudal system. Now where the technocracy is used as a collar around the working class to basically control them sufficiently for the ends of the ruling class. And of course that's something that's really difficult for me to stomach. So I'm fighting it the best I can. And I think, you know, I've been rewarded from the aspect of people like you that willing to give me their time to give me a platform, spread the word and let people make up their own mind. I've never told anyone you must this, that or the other thing. One of the things that I think is much needed in our society, meaning not just North America, but globally, is the ability to think on your own and have critical thinking. When one of the students of Von Mises came to him and he said, you know, I love you, I honor you, I want to learn from you. You didn't give him a big book on economics. Give him a book on logic. Because if you use logic, a lot of these arguments go away. Unfortunately, we don't teach logic anywhere. You know, if I was ruler, I'd put logic in every high school. So you could use critical thinking to determine if that person is full of it or not. And that would actually get rid of a lot of these problems because people make poor choices based on emotion rather than on reason.

A (56:19)

There's a part of it, I know this is more of a philosophical kind of question, David, but when you consider that, you know, there's a phrase and I'm not necessarily going to hit it, but it's like God helps those who help themselves. There is a part of it there where you put the message out there and there are just those individuals who are oblivious to what's going on. They count on mainstream media and can you imagine, I mean, I don't know what it's in, in the U.S. you're, I think there's finally some news about, you know, gold and silver hitting all time highs. But it's not like overpowering, you know, mainstream media in any way, shape or form. Canada doesn't, you know, our government owns, owns zero gold. How's that? And you know, I think they sold it all in 2015 somewhere along that line. And so people are just, they're oblivious to it and they're just on their way to, they're just doing their life, tick tocking through life. So my, I guess my point is, is that at some level you put the message out there, you want people to understand, but there's just going to be those individuals who are not going to do that. And you can't force the river. Like so the world you live in, to a similar degree, the world I live and especially being a podcaster and doing the research that I do and, and my own area of interest and of course the research that I do, I'm in it. Like I. Not to the degree you are, but I'm pretty in it. So I'm really watching what's unfolding global macro, trying not to get totally bummed out by it because it's all depressing and overwhelming at times. But there are people there that are just. Now none of what you're talking about is happening. So I'm looking at it going, is it just the world that I live in? Like, am I delusional? Like, I even question myself sometimes. I don't know where you're eye on that. I mean, you've probably sat up and gone, am I crazy? Like, is it just me? I'm losing my mind. Like, how do you deal with that? And there's like that phys philosophical part of it where, dude, I, you know, it's there for your taking. You're going to either, I don't know, you're either going to take action and move forward or not. I guess I don't know where I'm going with that question, but is that really a question, David? I don't know. You found what I'm talking about there?

B (58:34)

Yeah, I do. I was in, in France with one of my subscribers. Very wealthy guy. He lived in Paris and had a great business and we're getting out of the tax. He goes, well, how do you do it? Do what? He goes, know what you know and know what you've known for so long. Keep a smile on your face. And I said, well, because first of all, I have the utmost optimism for humanity at large that we are spiritual beings and that good does triumph over evil and that, you know, I take money out of the equation of my thinking when I start to interface with others. It is a manifestation of the problem. But the problem really is more or less what is our integrity level on a global scale or an individual scale. You know, there's a Rod Serling Twilight Zone episode where for one day everyone has to tell the whole truth and nothing but. And the film ends with Khrushchev shaking Kennedy's hand and then the clip ends. But just the idea that we really could be straight up with each other everywhere for one day, you know, but we're in a system where if you could counterfeit the currency, that moral degradations becomes pervasive. Through the whole society. So the moral structure starts to break down because if it's okay for the president to lie about it or the Federal Reserve to lie about it, well, that's okay for me to, you know, take the pen from the office or whatever. In other words, the moral structure starts to be throughout the society where, well, if it's okay for them to cheat, it's okay for me to cheat. And then you get the inflation thing and it starts to build. Because the plumber used to charge, you know, 60 bucks an hour, but now when he comes to consult with me, my consulting fee's gone up 30%. So now he says, well, I gotta charge 30% because now, you know, I gotta keep up with what Morgan's charging me. Well, I'll make it 40% just to buffer it a little bit because, you know, 30% now make mine 40. And then the guy that goes to the plumber says, holy crap, man, plumbing's up 40%. Well, I'm in the lumber business, you know, I'm going to mark up my product by at least four, you know. So it just kind of builds on itself, and it comes from lack of integrity throughout the system. Because if you don't know what a dollar is tomorrow, then what do you do to mitigate the problem of its purchasing power? And when that starts to accelerate, which it's doing now, you'll see the metals take off what you're doing now, which usually portends, as I said earlier, we're not far away from that final finale where we get a blow off, move in the metals, and then what do we do this time? You go into paper. You take that $10,000 gold, converted Canadian dollars, and buy a house that's overinflated. It's going to be very difficult to exit. It may be difficult, difficult to exit if the system is still an unknown, a uncertainty. What do I buy with this? And the idea could be, and usually is, there'll be something that's undervalued. It could be the stock market, it could be the real estate market. It could be land, it could be a business. We're not there yet, but we need to prepare for the idea that the system is untrustworthy. So you have to have something you can trust. It doesn't have to be gold and silver, although that's the easiest to talk about. It could be re educating yourself or doing your passion or starting a business or, you know, having a side gig or whatever you really, you know, satisfies you. Because if there were A let's say 50% degradation in the ordinary citizen's lifestyle. In other words, just take your supermarket and take all the premium items like the upper scale jams and jellies and pickles and, you know, whatever. Gone. Because they just can't sell them if people can't afford them. So you got a simpler life. Doesn't mean you don't have a life. In fact, you might be a little more grateful than we are. Now we're in the final phases of the overproduction, overabundance, taking everything for granted type of mentality into what's called the fourth turning, which you probably heard of and many of your viewers I'm sure have. Yeah, where we get a reset. The reset I think is where we have to come back. As purportedly Einstein said. I don't know if he did or not, but he dreaded the day when our technology exceeded our humanity and we're certainly there now. So we need to get off our phones and get back into our hearts. I start looking at each other with meaning and purpose.

A (63:33)

I love that. I could not agree more. I have to say that as I'm looking at and watching the politics, you know, certainly when we look at what's happening, UK is frightening. Australia, it's frightening. You know, we look at Canada, you know, part of that whole Commonwealth and I'm going, you know, what goes on over there is, is destined for Canada in my world. That's how I see it. And it does frighten me a little bit. Not so much for me but, you know, certainly for my grandchildren. I do have concerns. I, I'm optimistic as I can be. It. I'm. I like you, I believe that we'll come out of this, but there's going to be a lot of discomfort and a lot of challenges. I think in the coming years that people are going to have to deal with. Maybe that will make us all better, I don't know. But it's, it is a little bit frightening to go into not knowing and having. We don't even know what the rules of the game are anymore, you know, because it's all changed. I, in my world, in the way I see it, politics are not what politics once were. You know, the, the our government, our MPS, or in our case our Prime Minister, etc. They used to have a respect for the general public. There was some fear around it because they were, you know, I need to get voted in, I need to listen to these people. And now it just seems inconsequential. Like all we are is I often think that the people are actually an annoyance to the politicians. That's how I see it. Like we're an inconvenience that they have to deal with and they're getting tired of it. And so that part of me is like, I'm gonna add a. It makes me a little bit nervous.

B (65:18)

I agree. I mean, but we will see, as it says in the fourth turning the hero class, there'll be people that are 10, 12, 13, 14 years old right now that will come from the ashes, so to speak, as a metaphor. Yeah. And rise up and start with a clean, you know, blackboard. Put chalk to blackboard and say, look, let's keep it simple. Here's what we're going to do.

A (65:41)

That's a really good point.

B (65:42)

Yeah, we will. We will get through it.

A (65:44)

I appreciate your time and thanks very much, David, for what you've shared, and I really do appreciate it. Great conversation. I hope we can do it again real soon.

B (65:55)

I'm here for you.

A (65:58)

Ladies and gentlemen. Thank you for listening. If you found value in the podcast, please take the time to rate and review and share with others. Share with your friends. Friends as it is my goal to always improve and to provide the highest value for you, the listener. If you have any comments, suggestions or questions you'd like answered, please email me@ceoraincanada.com that's ceorseincanada.com I look forward to hearing from you. And until next time, Patrick O.