$38 Trillion and Counting: Bipartisan Debt Slavery

All right, folks, welcome back and joining us today rather than on a Thursday is Tony Ardeman of Wisewolf Gold And of course if you go to Davidnight dot Gold, that'll take you to Wisewolf and let him know that you came through us. Tony switched days because it has been so hectic. The golf market, like everything else, is one of the first places, I guess where some of the deliberate chaos that is being sown into the global economy is showing up in the financial markets, and so

Well, first of all, good to see you again, David, And yeah, sorry I hadn't been able to make it on my usual Thursdays.

My schedule is all over the place, and I think.

If you're watching the metals markets, you know why. And it's really just trying to figure out what's next.

I mean, there's a.

On one side, you this avalanche of supply and some of the big wholesalers stop buying. On the other side, we've got a supply deficit and people can't source products, and you know, the trades are two or three weeks out, so it is a it is a.

Really interesting thing.

It's a really interesting time to be in the gold and silver business. So I've been having to stay pretty nimble and but luckily for us, we did a little bit of pre planning for this, so we had inventory covered for wolf pack and other things, and I've just been I think the key thing that I've been able to do is be mobile. So I've been back and forth between Missouri and Texas and taking inventory there, bringing inventory from there to liquidate.

So just staying on top of that.

It's a It has definitely increased my travel time, but I'm thankful for it.

There's a lot going on.

Well, you know, I don't know how it affected you, but I talked about this yesterday the day before about what happened was so and basically, from what I understand, the markets in London couldn't fill the silver orders for people. Part of it was because of an Indian religious festival. They weren't accumulating excrement like wech earlier we at the Boop Festival, but this was about collecting wealth and so typically they would collect gold. This year, a lot of

Did you see that happening, I bet you, and I've followed that story.

I'm following the other there's you know, stories in that periphery about billion supplies and paperback silver that I've been watching closely. We've discussed the nation state involvement in a key emulating silver, and I think that is what's putting the pressure on paper silver to and it's exposing paper silver for everything that they've done for the past many decades.

Yeah, I reme the catalyst.

I think Russia putting silver as a strategic reserve asset was really important and whatever pressure that is. And I think China is calling the bluff of London too. I think there's some behind the scenes stuff going on with these, you know, the bullion houses and the contracts. I think that the Nation states are getting involved now and I think that's why we're seeing them break.

Yeah. I showed the one chart and It was really kind of crazy. They had the actual spot price of silver and they are gold, and then they had what the ETF prices were, and they were two separate lines, you know, one of them. Then they crossed at one point that they actually got the same for just one point when they crossed. But you know, sometimes it was much higher than the actual price is over sometimes as

Yeah, and none of the shenanigans have taken place, None of the papers selloffs have happened like they had back in February of twenty twenty one. None of that's taken place. So the price suppression game, they just may not be able to do it anymore, at least not on the level that has been done in the past. So I would keep watching these stories unravel about contract exposure and what's actually on the books and then what can be delivered.

Yeah, speaking of physical You've talked about this quite a bit, the urban mining of gold and silver, and there was a long article from the New York Times talking about the diamond market there and people taking their jewelry in there to take advantage of the higher prices for gold and silver. Of course, they were not looking at long term things. One lady brought in her jewelry and made like four or five thousand dollars off it. She's going

No, I think it's all the above.

And people are urban gold mining, and there's people coming into both of my shops and Dennis and Branson, and we're buying a lot of scrap jewelry, old coins, things that you know, we can always melt. And with the prices that the way they are, it's worth people going out and looking and finding and turning things in and maybe even getting back the jewelry price they paid for it if they bought it many many years ago.

They can get all that back at least in dollars.

So we're seeing that at a really good pace, and I think that's only going to continue. But there's also mass profit taking in some sectors, and of course, you know there's some psychological stuff going on with the pullback, and you and I were laughing off air, it's like gold dropped from forty three hundred plus dollars an ounce down to close to four thousand dollars an ounce, and it was like, oh, that's the worst drop it's had.

And this is the you know, gold got wiped out.

And I'm like, it's over four thousand dollars an ounce, it's gonna be fine. It's a forty one to twenty right now as we speak. So I think a lot of that's profit taking and you'll see that too.

Silver was interesting.

When silver broke its new all time high last week or so, we had people coming in and trying to sell me everything that was silver, and the refiners, all major refiners that I know I haven't found one yet, stopped. They stopped buying any scrap silver. They said, we just can't do it. We're we're too busy. So at any price they would not buy it, and not that it's not worth anything.

And I'm still buying.

I just had to lower my prices of what I buy it for and I'm just stacking it in the back until they can melt it.

So the last part of that story out of India, it was a guy that had been in business for three decades or so and his company was the largest silver refiner there in India. Couldn't find any silver. They were completely out of it. It amazing.

Yeah, it's interesting.

There's certain things that the refiners here, like in Dallas, stopped buying, and.

Gold has never been an issue.

They're buying the goal, but they would go all over the place on silver. So there's such a it's such a mixed bag with that market and understanding silver and understanding the supply issue and what people want and how.

You can get liquidity.

But I think right now that's been there's some cooling off and prices have.

Dipped below that fifty dollars mark.

So this is like one of those I think a good time just to get into silver. It's like it'd pulled back. So I'm ordering right now, like I'm pushing the buy button on a whole bunch of products that I put into a wolf pack. So every day that I'm watching a little bit of red, that's fine. I did the same thing with gold. When gold went to four thousand, I said, okay, I owed some inventory, so I bought five ounces. It's it's fun whenever these prices go down. I'm a buyer, you know. So a lot of people.

Remember a year ago when you know, Trump won the election and gold took a dive and I said, it's just on sale because none of the fundamentals have really changed. I mean, just take a look at this last week, just the last day or so. Here's the debt clock. This is the thing. I remember Thomas Massey bought a whole bunch of these national debt clocks that are constantly, you know, flipping around and going up, and he handed

And I mean you look at I read a lot of the Kitko analysts and some of the people that they bring on, and you'll talk about things like, oh, well, the trade tensions have lessened with China, so it's a good time, and you'll see a little pullback in price.

But again, big picture fundamentals, the.

Dollar, the dedollarization, the issue with our debt, and you mentioned the thirty eight trillion you know metrics on that where we were one trillion dollars the last time silver had another had its all time ISO in.

Forty five years.

We've added thirty seven trillion dollars in debt and that's only going to.

Accelerate them eight thirty eight now, yeah, it's thirty eight now, so I can't keep track of it. That's right.

Now we've added this massive amount of debt, and not to mention the unfunded liabilities, and then you have the geopolitical risk of the foreign policy and the trip wires that we have all over the world. Now that the metrics and why you would want to be outside of this system are there, I mean, for the first time, central banks now own more gold than they do US treasuries and it's only a matter of time before central banks hold more gold than they do US dollars.

It's only a matter of time.

It's not that it's not going to happen, because right now it's the dollars number one as a Tier one asset via the Bank of International Settlements. The number two used to be the euro and it got supplanted by gold last year.

Yeah, so when to get.

I think when he gets up in the mid five thousands or something, that'll be uh, you know, it'll be the number one, the tier one asset. You know, it's kind of interesting to when we talk about this debt. The federal debt rose by trillion dollars in a little over two months, which is the fastest rate of growth outside of the pandemic. And of course when did that happen during the pandemic. That was Trump and he wanted to get Massy out because Massy opposed him on that.

Right, Well, that's what he said. He used to call himself the King of debt.

Yeah, that's what he called himself, and I just called himself the king.

So yeah, used to be.

But he's defecating on all of us, isn't he with his fiscal policy. It's not just a protest.

Well, I mean he'll maybe we'll go to the last time when he needed a bail out. He got Wilburgh Ross and the Ross Childs to come in, and maybe that's what we're doing now, except we're doing it with the entire nation. Maybe that's why case, that's what the Federal Reserve is.

Yeah, I mean that's why Scott Besson is there because he broke the Bank of England with sorrows. So yeah, they can break the Federal Reserve with this. I'm sure both of them would love to do that. There was an interesting article on Meanses and said, so what happens when gold? You know, when's the next gold bubble burst? And they went back and they looked at four previous times.

I think so too. And that's a great point to bring up.

You know, you remember twenty and eleven and Ben Bernanki came out and said, oh hey, we won't do that with tarp funds and everything we've bailed out the big banks scepter two thousand and eight, two thousand and nine, and so about twenty eleven, gold hit over nineteen hundred dollars an ounce and silver hit fifty, so it didn't break its.

All time high at that time.

So that was that was a metric people were putting their moving funds into physical gold and silver. It was driving those prices up, and Ben Berneki said, we won't do that again. We have everything stabilized. The markets are, you know, are going.

To be sorry. We caused the Great Depression finally, but we won't do it again.

Yes, we won't. We did, we did nineteen twenty nine. We won't do this again. And you're right. It's a different world now.

And I don't think they are going to pull a rabbit out of their hat, but it won't be the Fiat rabbit. I think that they're going to do something. I think they're going to reprice everything. This is a there's going to be a great devaluation and a revaluation in some way. I don't have all the answers to that. I'm just this is what I'm reading in between. I think part of commodities, gold silver, maybe even bitcoin, and it'll have a lot to do with the digitization of our currency.

David.

I think it'll have something to do with the stable coin, the public private partnership thing that they're doing. Yes, again, I don't have all the answers to that, but it won't be a fiat.

Rabbit are going to do something. It will be a magic trick.

Yeah, it'll agree. I think it's going to be something about the stable coin, and I think they'll even as they're doing now, they're putting in real estate and gold and too tether and some of these other ones holding that as well, so they'll be able to pivot and use some of those things and try to give a reality to what will essentially be a fiat. But that's

I agree, it's very important to have something outside of this system. And counterparty risk is another issue. And if you've got lack of trust, that loss of trust that's happened, and this happens. You know, we're in a fourth turning, so you're talking about institutional turnover and the end of certain old institutions and the beginning is with new ones.

Perhaps, so trust is a factor.

And you hold that I have a I was on a podcast last night.

I was showing them.

I was like, I have a one ounce gold eagle here on my desk and we bought here at the shop and Dennison and this is mine, right, that's no, there's no I don't have to worry about what's on a ledger. I don't have to worry about uh, you know, if the chairman of the board of that company is embezzling or whatever I own is right, and I know what I know what that's worth. So that that's the

One of the thing that's been going through the financial press this last week was the concern about several companies that make car loans and a lot of people can't pay back their car loans now because they're underwater and financial things are getting difficult and they can't sell it because the cars appreciate so quickly. And so there's even been a lot of articles coming out of the UK

Well, everything thrives off of debt and then eventually you have to somebody has to get paid back.

That's right, you know, that's the problem.

With having an economy that's built off of cheap liquidity, and we've been building that for a while now. That's how they measure the metrics in that so called health of the economy is lending in liquidity and so at some level though, you have to pay it back.

That's what happened in two thousand and eight.

In two thousand and nine, prices because there was so much Fiat floating around. Prices went up because people bought cheap goods from overseas and whatever, and the consumption went up, costs went up, and you had then eventually had to make a decision whether you're going to put gas in your car or pay your mortgage. And people put gas in the car because it was four dollars a gallon at one point, and that caused a cascading effect of defaults.

Real estate crisis that's on the horizon.

Or whether it's just a consumer debt issue with not with you know, defaults coming in through the system.

Those kind of things can set off a firestorm.

And as volatile as everything is, I mean, one day we'll wake up, we're going to go put one hundred percent tariffs on China in the markets tank, you know, like this is not something that we've been through before, like that we're we also do that. And you've got the weaponization of the of the Fiat dollar system worldwide and the deolarization happening rapidly. So you're like loss of

And I think, well, and again if you look Loot what Scott Bessant, did you know this outrageous thing that they're doing with Argentina Because they're more concerned about Argentina than they are America and the harm that Trump is inflicted on them with his temper tariffs, they decide that they're going to do currency swaps and they're going to stabilize the Argentine peso and those things didn't do anything. So again, their magic weapon, you know, the almighty dollar

I think that's pretty apparent we've gone through.

I mean, this is the second time he's ran the economy, and I don't understand why we're not promoting free markets and liberty. And if you wanted to actually make the United States economy strong, you start incentivizing people to build things, to put.

Capital investments in.

You know, you would start talking about eliminating certain regulations or the tax code in general. You would go after that. But we never do any of those things. And that's really to tell that's right. If you wanted to put the United States is the most competitive nation in the world and get people from all over the planet to build things here and make things here and put their capital here, you just eliminate stuff like the corporate income tax.

That'd be a great way to start.

And you could do that, you know, with it because you have a Republican Senate and have a Republican House, and you've got the presidency. If you're really serious, you could do that. And that's all theory, I know.

But you said he'd rather manipulate the financial markets, which tells you who's controlling him. You know, they come up with these They come up with these financial schemes and different ways to finesse things financially, rather than getting rid of the fundamental problems, which are, as you point out, regulation and things like that. That is, the government boot

I agree with that, and that's it's alarming.

That was kind of the black swan event coming out of in twenty twenty four into twenty twenty five, the thread of tariffs on commodities, and that's when I think that's when.

This whole thing started to the.

Damn broke, because you're right about last year he and how we're talking, gold and silver was on sale because we're going to have this massive crypto boom. You know, they're going to have a strategic bitcoin reserve and all this stuff that's going to happen with crypto, and you don't need that gold and silver because the markets are going to be so crazy well, they weren't. We went

It was blanking, it wasn't.

And it was just just based on his mood that morning or.

Last night or whatever. You can't depend on.

Yeah, somebody said something that got him upset. Okay, one hundred percent terraff now back on China. And so that was what all these different cattle associations were saying, one after the other, and they said, you know, we've got to have stability. We got to have stability and prices. We've got to have transparency so people know what that's going to be and we can't have this constant chaos and this whiplash back and forth. It's destroying everything, not

That's the only explanation is just creative destruction and hiding behind the guys of this is there's a plan here. There's no no, not a plan to help you anyway. And I see people struggling, That's what you know. Primarily, that's what I see right now. And I see it in the markets, and I see it in people that are selling products to me. I see it out on the street, you know, when I'm working, you know, taking stuff to the bank or anything that I'm interacting with the public.

I see what's going on. And it's not a healthy economy.

And there's more I think turmoil ahead.

That's right.

The plan is for you to trust them, because the plan is a con game, a bunch of con men. And that's why I'm very concerned about this con that is a stable coin and they're not tying it to stable things, and it's not a coin. All this stuff is just it's just one one thing after the other, one con game or the other of this there, Well, tell us a little bit about it. I know you've

Well, I think the name of the game right now is going to be a supply and speed and ability to continue to transact business. It's getting a little bit harder to do, but not impossible, and I've built my business to be able to sustain. I didn't quite plan just for this, but it's something that was akin to this, and so right now just trying to keep everything supplied

Here soon, especially if.

The geopolitically, if there's any sort of tension or break in the patterns that we're seeing right now with trade talks, or if there's anything on the horizon for any sort of tension, metals are still primed to go.

You could have some more pullback too.

But it's to me, it's not about the you know, the investment side of it. It's more of watching this and you're right you mentioned earlier about it. I think there is a number that if gold hits that it starts showing the I mean, it is showing the weakness of the dollar. But I think that that's when the like eclipse is the dollar and becomes the gold supplants the dollar once and for all is the the most

And of course you know this. Jamie demon said that this last week, well I could see gold going five to ten thousand dollars an ounce, but he said, I'm not going to buy any of it. So he's not trying to get people to buy gold or silver. But he could see that happening, and that's on the low end where you have a major disruption in the world's financial systems. But of course the major disruption in the financial system is a self inflicted wound, both by Biden

I think, yeah, so many factors, and you know, I think the big picture, and you look at all of the rest of the supposed wealth in the world, and what a fraction of a fraction the actual gold market is. We've just we've just begun same thing with bitcoin and silver. We've just begun to get the market share of this

Yeah, and you've got to be very careful, move very quickly because I mean, you know, the largest silver refiner in India can't get this whole, can't get a hold of any silver in the London. Markets are out of it. I mean, things are going to get really difficult. So it's a great way to gradually save money, put it into some asset that is not a rapidly depreciating asset.

David.

Thank you. So do you have any broadcasts? Usually on a Thursday, you've got a broadcast that's coming up, but you haven't been able to do the broadcast.

I've been able to do my show.

I've had to run best of it, and I think maybe next week we'll have a new show. But today I've got interviews as soon as I leave this show, and I've got the shop opening up, so I don't be busy.

Well, I appreciate I know how busy are. I appreciate you taking the time to come on. It's always great talking to you. Love your insights. Tony Ardeman of Wisewolf Gold and you can get to Tony if you go to Davidknight dot Cold, then'll let him know that you came through us. Thank you so much to me. Appreciate it all right, Take care the common Man. They created common Core, dumbed down our children. They created common Past Track and Control us their Commons project to make sure