DavidKnight_01-15-2026.timecode

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[01:07.120 --> 01:10.800]  All right, welcome back and joining us now is Tony Ardaban. I apologize for
[01:11.680 --> 01:18.640]  losing track of the time. We haven't lost track of Tony, but it might appear like that to the
[01:18.640 --> 01:23.360]  audience because it's been a while since Tony's been on. He took some time off for the Christmas
[01:23.360 --> 01:27.600]  holidays and things like that to try to get caught up. It's been a chaotic time, of course,
[01:27.600 --> 01:32.320]  in the metals market. Things have been moving incredibly quickly and I don't know how you do
[01:32.320 --> 01:37.840]  it, Tony. You take the time to come on at all, but it's great to have you back and we're really
[01:37.840 --> 01:42.960]  anxious to talk to you with all the things that have been happening. We're now up over $4,600.
[01:43.920 --> 01:49.680]  Gold has gone high. We had well over $80 for silver. I don't know what the exact price is
[01:49.680 --> 01:55.280]  of silver. I don't follow this stuff on a day-to-day basis, but you do. It's really crazy times,
[01:55.280 --> 02:00.880]  isn't it? This last week we just had both of them get a shot in the arm again from Trump
[02:01.520 --> 02:07.040]  because he wants to be the dictator of the dollar. He wants to be the one who's going to set this.
[02:07.760 --> 02:13.200]  You have to look at this and I can understand why the markets and why Wall Street investors
[02:13.200 --> 02:17.120]  and anything would be scared of this. Just take a look at what he did with tariffs. It doesn't
[02:17.120 --> 02:21.200]  matter what you think about tariffs. It doesn't matter what you think about interest rates.
[02:21.920 --> 02:25.360]  Trump is going to be setting, if he's going to be the one setting interest rates, they're
[02:25.360 --> 02:28.960]  going to be varying based on what he had for breakfast this morning. It's going to be crazy,
[02:28.960 --> 02:36.400]  right? Well, the uncertainty is certainly the underlying driver of these prices that
[02:36.400 --> 02:41.440]  you can go with the traditional market forces, David, as I was saying off air.
[02:41.440 --> 02:48.080]  I think, and I started to notice this in the last quarter of 2025 and towards December,
[02:48.080 --> 02:53.440]  I just said I'm taking the rest of the month off of my shows and appearances. I got to focus on
[02:53.440 --> 03:00.320]  my business because so many people were selling silver because it was reaching new all-time highs
[03:00.320 --> 03:07.920]  in every week and something else was happening, new price drive. I've seen this accumulate over
[03:07.920 --> 03:13.920]  the last 30, 45 days and I'm just convinced now that we're in some sort of fourth dimensional
[03:13.920 --> 03:20.560]  warfare between governments. I think silver is in a key playing role in the currency wars that are
[03:20.560 --> 03:27.440]  going on right now. I remember when Russia put silver as a strategic reserve asset,
[03:28.160 --> 03:32.640]  that story really stuck out with me and I've talked about it on your show, I talked about it
[03:32.640 --> 03:37.040]  on my show. Many times I thought this should get a lot more coverage than it's getting. I don't
[03:37.040 --> 03:42.640]  think people really understood what that meant. That was the first time that a major government,
[03:42.640 --> 03:48.240]  especially in nuclear power, is saying we're signaling that this is a monetary asset for us
[03:48.240 --> 03:54.720]  again. Silver used to have that same standing, especially in countries like China in the early
[03:54.800 --> 04:00.880]  20th century and from centuries before that. As you pointed out many times, the very word that
[04:00.880 --> 04:06.560]  is used for the Indian currency comes from silver. That's the root word.
[04:06.560 --> 04:12.160]  That's right. Wasn't that the case with the dollar as well? There was another currency that
[04:12.160 --> 04:18.800]  was that way as well, the word for silver. The dollar, it was based off a German silver coin.
[04:18.800 --> 04:24.160]  Yeah, the dollar. T-H-A-L-E-R, right? Yeah, dollar, yeah.
[04:24.160 --> 04:30.720]  So it went from dollar to dollar. So yeah, really, I mean, silver because of the lower value was
[04:30.720 --> 04:36.560]  really kind of the everyman's currency that they were passing around. The gold was there as a store
[04:36.560 --> 04:39.760]  of wealth, of sovereign wealth and that type of thing, which is what we're seeing with the
[04:39.760 --> 04:46.080]  central banks. But we've also seen a massive amount of individual purchasing, the shortage
[04:46.080 --> 04:50.400]  that we talked about before what happened in India. Every year they have as part of their
[04:50.400 --> 04:55.600]  religious observations, they will accumulate wealth or whatever. Typically they would get gold,
[04:55.600 --> 04:59.520]  but one guy said, hey, you need to get silver this year. So everybody was buying silver, created a big
[05:00.800 --> 05:04.800]  shortage in terms of distribution. And there's something else happening with silver that I
[05:04.800 --> 05:11.760]  thought was kind of interesting. And that was sent to me by, listen, the guy put out three videos
[05:11.840 --> 05:17.200]  yesterday and there were a lot of assertions that were made in it. And it wasn't possible for me to
[05:17.200 --> 05:23.520]  verify what he was saying in terms of commodity trades and amounts. He said, this is not anything
[05:23.520 --> 05:28.960]  that's concealed. This is not a theory. These are actual trades that have been made by JP Morgan.
[05:29.520 --> 05:34.240]  And he said, if you look at this, he said, he totaled it up on these various exchanges,
[05:34.240 --> 05:40.480]  that they were short 4.2 billion ounces of silver. And so what he was saying was,
[05:40.480 --> 05:45.680]  this is about to go vertical. And I can't verify if that's true. I sent it to you.
[05:45.680 --> 05:49.520]  And I know there was a lot of information there. And he was referring to a lot of things that
[05:50.320 --> 05:55.520]  is very hard for us to get access to. But what do you think about that? I mean,
[05:55.520 --> 05:58.400]  as you said, it's kind of fourth dimensional warfare that's going on now.
[05:59.280 --> 06:05.920]  But that's something that we've talked about for years. The role that JP Morgan has played in
[06:05.920 --> 06:13.040]  silver has a lot of history. There's some shadowy things that have gone on there and some
[06:13.040 --> 06:18.560]  things that are suspect and criminal. I mean, they've been convicted of shorting the silver
[06:18.560 --> 06:24.880]  market of the fraud, really. I mean, if you want to put it in that way. And they had paid a steep
[06:24.880 --> 06:32.640]  fine for it. And I want to say it was more than once. If you go into their history, they're the
[06:32.640 --> 06:39.920]  largest holder of physical silver, supposedly, in the world, private holder, other than governments.
[06:40.480 --> 06:44.720]  And that's been that way for a very long time. You got to remember, you go back to the 70s and
[06:44.720 --> 06:50.080]  you had the Hunt family and they cornered the silver market. And I coined the term deep stated.
[06:50.080 --> 06:57.600]  I thought that they were just basically taken out to the woodshed and punished for exposing
[06:57.600 --> 07:03.280]  weakness of the dollar in the late 1970s, early 80s. And nobody touched silver again.
[07:03.280 --> 07:09.200]  There was a time when Warren Buffett supposedly was into some physical silver, but he has that
[07:09.200 --> 07:14.000]  pet rock theory. He doesn't do anything. I think he held some for a while and then dumped it. So
[07:14.000 --> 07:20.640]  nobody through the 80s and 90s and 2000s has picked up the mantle of silver. But JP Morgan
[07:21.600 --> 07:25.440]  was one of those entities that started accumulating. And I imagine that they have
[07:25.440 --> 07:29.120]  a lot of analysts who are looking at this as where does the fiat dollar go?
[07:29.920 --> 07:34.960]  What is silver's uses for? All the factors that would drive it up. And I think they've been,
[07:34.960 --> 07:41.760]  and again, they were convicted of suppressing the silver price while they were buying.
[07:43.600 --> 07:47.360]  And that doesn't register with a lot of people. A lot of people think of stock fraud
[07:47.360 --> 07:51.520]  as a pump and dump where they're just going to inflate the price, drive people in it,
[07:51.520 --> 07:55.120]  and then sell off. That's not what they did. This has been a long-term play.
[07:55.680 --> 08:00.400]  And I'd love to see if I didn't have enough time to verify some of the things you sent me yesterday,
[08:00.400 --> 08:04.000]  but it does make sense that they- Yeah, I didn't get that to you till really
[08:04.000 --> 08:08.880]  late and there was a lot there. The guy goes, it's about a half hour video and he's got two
[08:08.880 --> 08:13.520]  or three of them that he put up. But yeah, it is a complicated situation. Of course,
[08:13.520 --> 08:17.760]  there's always been this tension between gold and silver and go back to William Jennings Bryant and
[08:17.760 --> 08:25.680]  his cross of gold speech and that type of thing. But yeah, we live in very strange times here.
[08:25.680 --> 08:31.680]  And of course, we're talking about how Trump portrays this stuff. He just told the Detroit
[08:31.680 --> 08:40.320]  Economic Club that inflation is defeated. Nobody believes that but him. He is such a bold-faced
[08:40.320 --> 08:45.200]  liar that he will say that kind of stuff. They probably go into stores, they can get that
[08:45.200 --> 08:49.600]  banner that George W. Bush just had of the mission accomplished. We wouldn't get that back over the
[08:51.760 --> 08:59.920]  just right in inflation, mission accomplished. Yeah, and we had evidence of that. Everybody was
[08:59.920 --> 09:04.320]  scared to death of what he was going to do when he started coming after Jerome Powell.
[09:04.320 --> 09:08.720]  And that was one of the reasons I said, when we're talking about this thing in the fall,
[09:08.720 --> 09:14.000]  and you would see JP Morgan, all these different large banks, Goldman Sachs,
[09:14.320 --> 09:18.320]  they come up with Bank of America, they've got their analysts to say, well, we think gold is
[09:18.320 --> 09:23.200]  going to be here at this point in the first quarter or the second quarter, the first half or this.
[09:23.200 --> 09:28.160]  We see that kind of stuff all the time from them. And they constantly kept revising it up. And it's
[09:28.160 --> 09:32.880]  like, well, we just passed that already. Look at this stuff in the fall. And I said, it's really
[09:32.880 --> 09:42.560]  going to really step up because Jerome Powell is going to be ending his term. But Trump doesn't
[09:42.560 --> 09:48.160]  even want to wait for that. He is so eager to play games with interest rates and quantitative
[09:48.160 --> 09:53.920]  easing. I mean, he is chomping at the bit. And so much so that he's going to take the risk.
[09:54.880 --> 09:58.400]  What risk? I mean, his supporters are going to support him no matter what he does.
[09:58.400 --> 10:03.440]  But so much so that he wants to come after with criminal charges, come after
[10:03.440 --> 10:07.360]  Jerome Powell and get rid of him like he did Lisa Cook. Isn't that interesting? I think that's a
[10:07.360 --> 10:12.240]  big tell as to what his economic policies are going to be right out the gate. He's going to
[10:12.240 --> 10:18.000]  do everything he can to push every button to have easy money. And that's going to make inflation
[10:18.000 --> 10:24.800]  roar. He's going to pour a lot of gasoline on the fire. He's an agent of chaos. Yeah, he is.
[10:24.800 --> 10:30.720]  And the Federal Reserve is a criminal entity, just not really maybe for the building of an
[10:30.720 --> 10:38.000]  extra wing. I think it's for the entire scope of what they've done to our currency, to our world.
[10:38.000 --> 10:43.040]  I mean, the very reality and the fabric of America has been ripped apart by the Central
[10:43.040 --> 10:49.760]  Bank. But don't mention that. It is very telling. And certainly he has a lot that he can say,
[10:49.760 --> 10:55.200]  how can you justify two and a half billion dollars, not even to build? I mean, this is
[10:55.200 --> 11:00.320]  not foundation costs or grading costs. This is just decorations, right? They're going to
[11:00.320 --> 11:06.320]  remodel it with two and a half billion dollars of decorations for these existing buildings.
[11:06.320 --> 11:11.280]  That's outrageous. But I said, so he's going to audit that, but he's not going to audit the
[11:11.280 --> 11:17.360]  Fed itself. He's not going to audit Fort Knox's gold. Let's focus on this other thing over here
[11:17.360 --> 11:24.880]  that really doesn't matter except as an indication of the corruption and just the raw power that the
[11:24.880 --> 11:31.680]  Federal Reserve has. It's absolutely astounding. I mean, and people are following this like this
[11:31.760 --> 11:36.480]  is a good thing. And I think it's just chaos for the sake of chaos's sake. And the whole thing
[11:36.480 --> 11:44.640]  that's pushing all of this, you know, the drive and prices is the movement out of like safe haven,
[11:44.640 --> 11:48.240]  traditional markets where people played and, you know, there's long-term paper markets.
[11:48.240 --> 11:53.600]  Hey, it's Ben Ferguson. And I want you to pause what you're doing for just one minute. And I want
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[12:12.800 --> 12:19.920]  doesn't know if they'll eat, if they'll have a chance to learn or if there's any hope at all.
[12:19.920 --> 12:26.240]  And while we're all busy, life keeps moving forward, but that child is waiting. This is
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[13:17.760 --> 13:33.040]  This is fear. And again, it's governments that are involved. And people might think I enjoy
[13:34.160 --> 13:38.560]  where we are in the silver prize. I think it should have taken a little bit longer. These
[13:39.280 --> 13:45.280]  massive hikes that we've seen that are really unprecedented since the 1970s. And this won't,
[13:45.280 --> 13:50.640]  I don't believe this will end like the 1970s, David. I don't think that if silver went from
[13:50.640 --> 13:59.040]  $52 to $2 in 1980, that's not going to happen. It's not going to happen. There might be some
[13:59.040 --> 14:03.200]  pullback and there probably will be both in gold and silver and there's profit taking that could
[14:03.200 --> 14:10.880]  go on. But I think we're pushing new boundaries and price discovery every single day. And this is
[14:11.840 --> 14:16.640]  a reflection of the weakness of the dollar, the weakness of the fiat system, the massive,
[14:16.640 --> 14:23.360]  the systemic malignancy of worldwide debt, the global debt that is really, I mean, it's bankruptcy
[14:23.360 --> 14:29.120]  on paper for pretty much the entire world if you look at debt to GDP. And we've been talking about
[14:29.120 --> 14:38.240]  that for a long time and it's only accelerating, but there's an underlying, I think, story going on
[14:38.240 --> 14:43.440]  with silver because of the governments that I think are starting to realize that these strategic
[14:43.440 --> 14:48.800]  assets and especially silver, gold, things like that, they're reaching for the physical bullion
[14:48.800 --> 14:55.120]  and all the paper markets, those days are gone. And thank God. I mean, I remember in February of
[14:55.120 --> 15:00.880]  21, David, they did the Wall Street bets and they did the whole the Reddit people and they
[15:00.960 --> 15:08.320]  did buy silver and people were sold out of physical silver all around the country.
[15:08.880 --> 15:12.640]  And they were trying to get the price to move by buying out the physical silver and people
[15:12.640 --> 15:17.360]  went and bought physical silver out of shops. And one of my shop is that way and we sold out.
[15:18.240 --> 15:23.600]  And the next day the price went down and that's because they did because they sold off these
[15:23.600 --> 15:28.000]  paper markets that they used to be able to control the price. They sold off 1.5 times
[15:28.000 --> 15:34.080]  the annual supply in one day and just sold, hit sell, sell, sell. And it dumped that price
[15:34.080 --> 15:38.560]  down. So the spot actually went down. But if you went in to go buy silver the next day,
[15:38.560 --> 15:44.240]  you couldn't get any. And I thought, this is broken. This can't last. This is a complete
[15:44.240 --> 15:51.520]  exposure of what that market was. Well, we're not there anymore. And you can't go back. You
[15:51.520 --> 15:57.520]  go to the beginning of the year when we talked about the Black Swan event, really with unintended
[15:57.520 --> 16:04.720]  consequences was just the threat of tariffs and not giving clarification on whether gold or silver
[16:05.520 --> 16:11.680]  or commodities would be tariffed if they entered into the country. And that alone
[16:11.680 --> 16:18.160]  started clearing out vaults and contracts were called. It's a cascading event. It needed to
[16:18.160 --> 16:24.320]  happen. But that was the unintended consequence. Without that, we don't have $4,600 gold on our
[16:24.320 --> 16:29.280]  way to $5,000. We don't have that. If you remember last year, we hit an all-time high
[16:29.920 --> 16:34.480]  over 30 plus times. I think almost every time I come on the air with you, there'll be a new
[16:34.480 --> 16:40.960]  all-time high. So it was really unprecedented. It's uncharted waters and nothing really
[16:41.680 --> 16:48.160]  in history lines up to what we're watching exactly. I don't think it even rhymes.
[16:48.960 --> 16:54.080]  Well, yeah. It was a very different time. If you go back and you look at the 1980s,
[16:55.600 --> 17:00.720]  what was happening to that in terms of gold and silver, that was the shock that was sent
[17:00.720 --> 17:06.560]  through the system because of the energy, because of OPEC and the oil shortage and embargo and
[17:06.560 --> 17:11.360]  things like that. That set off a wave of inflation. And we saw that in the interest rates. And so
[17:11.360 --> 17:17.600]  just in this last week, to underscore that, the fact that Trump is talking about the
[17:17.600 --> 17:24.560]  confiscatory interest rates on credit cards, well, that's there because they got rid of the
[17:24.560 --> 17:31.040]  caps on usury. It wasn't a federal cap, as I point out this week. It was a state law. And this is a
[17:31.040 --> 17:38.720]  tradition that had gone back to the 1500s in English and American tradition that you would
[17:38.720 --> 17:42.960]  not charge more than 6% or 8%. It would be illegal. That would be considered to be usury,
[17:42.960 --> 17:46.880]  loan sharking, that type of thing. But because we had such rapid inflation,
[17:48.080 --> 17:52.720]  first the Supreme Court and then the Congress. And the Supreme Court in 1978, then the Congress
[17:52.720 --> 18:02.160]  in 1980 did things to essentially get rid of the state usury laws. And so now Trump wants to do
[18:02.160 --> 18:07.760]  just a one year moratorium on these ridiculous rates that they're able to charge people. It's
[18:07.760 --> 18:12.080]  the most amazing thing, but it really does show the character of the banking system, Tony. When
[18:12.080 --> 18:16.080]  you see how they come back and they say, well, if you cut the interest rates that were allowed
[18:16.080 --> 18:20.240]  to charge poor people who can't pay off their balance, that would hurt the poor people.
[18:21.040 --> 18:25.760]  That would restrict their credit. It's like, how does that hurt the poor people if they're not
[18:25.760 --> 18:32.880]  allowed to go into debt to you for 20 to 30% a year? I mean, it's a, oh, and of course it would
[18:32.880 --> 18:37.200]  hurt us as well. But yeah, it would hurt you, but it would not hurt the poor people. That's all
[18:37.200 --> 18:41.760]  almost like saying, sorry, you're not going to be able to drink your paycheck or pour it into the
[18:41.760 --> 18:46.880]  casino slot machine. You know, we're going to prohibit that, but it truly is exploitive.
[18:46.880 --> 18:53.840]  And it's been there for a long time. And so what I thought was interesting was that Trump's got,
[18:53.840 --> 19:01.360]  first of all, Scott Bessent was confronted at one of these economic clubs about that and said,
[19:01.360 --> 19:06.400]  you're starting to sound like Elizabeth Warren. And then Trump called Elizabeth Warren. And so
[19:06.400 --> 19:13.680]  on economic issues, we've got the, Trump is Elizabeth Warren. On issues of war and peace,
[19:13.680 --> 19:19.920]  we've got Lindsey Graham. That's kind of where his advisors are, right? We're supposed to believe
[19:19.920 --> 19:24.480]  that he's the peace president and he's a Republican, and yet he's looking at Elizabeth Warren and Lindsey
[19:24.480 --> 19:28.960]  Graham. They are his influences. But when you look at the, when you talk about paper silver,
[19:28.960 --> 19:35.120]  paper gold, we're talking about the stuff on the Shanghai Stock Gold Exchange, which is SLV for
[19:35.120 --> 19:39.920]  silver and GLD for gold. This has been the way that a lot of people who are typically in the stock
[19:39.920 --> 19:45.280]  market would just move things over into silver or gold. But I noticed what you talked about was
[19:45.280 --> 19:52.720]  something that was far more broken than what I saw. I just saw, you know, I guess back in 2018 or
[19:52.720 --> 19:59.760]  19, I saw that when gold was moving, the paper gold was going in a different direction or staying
[19:59.760 --> 20:04.640]  still, you know, it wasn't tied to the spot market. And I thought, why is that? And I started looking
[20:04.640 --> 20:09.120]  into it. And then I realized I wasn't really getting gold when I bought paper gold, when I
[20:09.120 --> 20:14.400]  bought GLD or whatever. And that's really the issue. And I think it's something that we need to
[20:15.600 --> 20:20.880]  be concerned about. As you see Tether going in and saying they're going to tokenize gold
[20:21.760 --> 20:28.000]  into the, into their stable coins, right? It's not clear how that's going to work out. I mean,
[20:28.000 --> 20:32.560]  who audits that to see if they've really got the gold there? Just that's the issue with the Shanghai
[20:32.560 --> 20:36.640]  gold exchange and silver exchange. Do they really have the gold and silver or are they
[20:36.640 --> 20:42.320]  saying that they've got it and then trading paper contracts for it? It may not be tokenized because
[20:42.320 --> 20:49.040]  it's not on the blockchain, but it is still securitized just like the phony mortgages in 2008,
[20:49.040 --> 20:57.280]  right? That's right. And the beautiful thing that happened in 1974, we were, because of Gerald Ford
[20:57.280 --> 21:03.120]  taking over after Nixon resigned, we got the ability to own gold again. It was legal after
[21:03.120 --> 21:10.240]  FDR from 1933 to 1974. It was FDR that made it illegal for you to own gold. You couldn't,
[21:10.240 --> 21:15.600]  I remember listening to Robert Kiyosaki who was coming back from Vietnam as a Marine and he'd
[21:15.600 --> 21:20.000]  smuggled in a Krugerrand that he bought just after we went off the gold standard.
[21:20.560 --> 21:26.080]  But you mentioned something earlier that I think, and this is why I brought that up,
[21:26.080 --> 21:32.880]  that we can own gold and they may be making a play on that eventually. We have to be vigilant
[21:32.880 --> 21:36.800]  on that. I mean, I think you mentioned Tether and some of these stable coins and how do they
[21:36.800 --> 21:40.800]  back this up? And people ask me about gold standards and all the rest, but we already
[21:40.800 --> 21:46.720]  really have one. And that's because we're outside, when you and I have a gold or silver coin or an
[21:46.720 --> 21:51.920]  ounce of bullion or a bar and it's recognizable, we're outside of the system. We're our own bank.
[21:51.920 --> 21:57.440]  Same thing with Bitcoin. Millions of Americans are unbankable and you have these predatory
[21:57.440 --> 22:01.760]  institutions that you mentioned and they're all fruit of the poisonous tree. We got this
[22:01.760 --> 22:07.440]  financial system that we have post-1971 when all bets are off, when you have a fake currency,
[22:07.440 --> 22:12.720]  it tends to create these type of entities that prey on the lower economic strata.
[22:12.720 --> 22:18.000]  You just can't get out of that cycle. I mean, it hasn't been that long ago. I had to use some of
[22:18.000 --> 22:24.080]  those things. When I was between ventures and stuff, I had to get small loans, weekly loans,
[22:24.080 --> 22:31.520]  stuff like that. And it hasn't been that long ago. The reality I live in today is a lot different
[22:31.520 --> 22:36.960]  than it was 10 years ago. So I had to use some of those things and they're awful and they're hard
[22:36.960 --> 22:42.400]  to get out of. So they keep those people in a cycle. It is a trap. It's the same thing that
[22:42.400 --> 22:46.720]  Trump says a one-year moratorium on this. Well, you see that kind of stuff all the time.
[22:47.600 --> 22:51.440]  Move your credit card balance over to everything. You won't pay any interest for a year or whatever.
[22:51.440 --> 22:56.240]  Then it shoots up higher, much higher than where you are right now. And so that kind of stuff,
[22:57.040 --> 23:03.520]  what Trump is proposing is just rearranging the deck chairs on the Titanic. And it's not something
[23:03.520 --> 23:08.560]  that's going to work out for the benefit of consumers, just like his 50-year home mortgage
[23:08.560 --> 23:13.360]  is going to work out for the benefit of consumers. That would be a horrible thing to get involved in.
[23:15.360 --> 23:20.640]  Price controls. We know the price controls don't work. This is the 70s all over again,
[23:20.640 --> 23:26.320]  but just worse. I mean, just on every scale, the corruption, the amount of bureaucracy,
[23:26.320 --> 23:36.320]  everything in between is amplified. A true prosperity would cure a lot of these ills,
[23:36.320 --> 23:40.400]  and a real free market would cure a lot. But this is crony capitalism. This is what happens
[23:40.400 --> 23:44.880]  when all these things, these entities that are tied to the central bank and everybody waiting
[23:44.880 --> 23:49.200]  for unbated breath and what the Fed's going to do with interest rates, instead of just worrying
[23:49.200 --> 23:54.160]  about economic outcomes and building infrastructure, economic infrastructure, all the stuff that should
[23:54.160 --> 23:59.760]  be going on. And that's why the new hundred dollar bill is a one-ounce silver eagle.
[23:59.760 --> 24:04.080]  My friend Charlie Robinson sent me an amendment to that yesterday. I thought that's about right.
[24:04.080 --> 24:06.640]  That's good. I like that. The new hundred dollar bill, yeah.
[24:08.320 --> 24:15.840]  Everything that Trump is doing is a gimmick. Affordability is the big issue. That is the
[24:15.840 --> 24:21.600]  elephant in the room as far as these elections are going. And 92% of people who have jobs,
[24:21.600 --> 24:25.040]  we're not talking about people who are unemployed, 92% of people who have jobs said that they're
[24:25.040 --> 24:30.240]  struggling, according to a recent poll. So when you look at affordability, and Trump comes in,
[24:30.240 --> 24:38.480]  he wants to play some financial games to help you to get a house, he says. But if inflation is
[24:38.480 --> 24:43.280]  eating into people and taxes and all these different predatory things that we've got in
[24:43.280 --> 24:48.080]  terms of mandated insurance and this and that, all of that is there and all the government
[24:48.080 --> 24:53.840]  regulations that are raising the price of things and killing industry and killing manufacturing.
[24:53.840 --> 24:59.920]  When you look at all those regulations, if those are there and the society is fundamentally sick
[24:59.920 --> 25:03.840]  and getting poorer, there isn't any kind of financial game that you're going to play that's
[25:03.840 --> 25:08.240]  going to help anybody. I mean, it's just something that kind of a sugar high that he's hoping people
[25:08.240 --> 25:13.600]  won't realize until after they voted for it. I saw this article, Tony. I thought this was
[25:13.600 --> 25:20.400]  interesting. The Egyptian army holds billions in secret cash as the country misses a debt deadline.
[25:21.120 --> 25:24.880]  They've got all this money in the Egyptian army and the Egyptian government says, wait a minute,
[25:24.880 --> 25:28.880]  we've got to make a debt payment to the IMF. And they said, well, we're not telling you where the
[25:28.880 --> 25:36.640]  money is. All the money that Trump is funneling over to the Pentagon, and he loves to brag about
[25:36.640 --> 25:42.720]  his tax increase as if people fill in the blank and they think, well, he's going to use this
[25:42.720 --> 25:46.400]  tariff revenue to get rid of the income tax. No, that's not going to happen. He's going to use it
[25:46.400 --> 25:50.400]  to pay down the debt. No, that's not going to happen. He says, I'll give it back to you as a
[25:50.400 --> 25:56.640]  check. That's not going to happen either. He's talking about, let's increase the new record
[25:56.640 --> 26:00.240]  defense budget. We just went over a trillion dollars for the first time. Let's make it one
[26:00.240 --> 26:05.680]  and a half trillion. Yeah. So we were flush with cash now. It's amazing, but when you watch them,
[26:05.680 --> 26:11.360]  you can start to see the lines of how this guy bankrupted six casinos, can't you?
[26:11.760 --> 26:18.240]  Well, it has the hallmark of everything that is short-term. Everything is short. This isn't
[26:18.240 --> 26:24.080]  long-term planning, again, not building financial infrastructure, not incentivizing the free market.
[26:24.080 --> 26:28.480]  We're not doing any of that. This is crony capitalism. And you see the breakdown of
[26:28.480 --> 26:35.840]  institutions. You just mentioned the Egyptian army and the hoarding of cash. By the way,
[26:36.480 --> 26:43.120]  keeping it from the IMF, which was born out of Breton Woods in 1944. This was the old economic
[26:43.120 --> 26:47.680]  world order that is coming to an end. There's the new institutions are being born, new factions
[26:47.680 --> 26:52.960]  are being born. That's a key indicator. Hey, it's Ben Ferguson, and I want you to pause what
[26:52.960 --> 26:58.720]  you're doing for just one minute. And I want you to hear about Alejandra. She lives in a remote
[26:58.720 --> 27:05.440]  community with very few resources and little to no healthcare. So when Alejandra gets sick,
[27:05.440 --> 27:12.320]  her parents have no real options, no doctors in their community, and no money for real medical
[27:12.320 --> 27:18.240]  care. By the third day, her body was shutting down. She woke up and just long enough to tell
[27:18.240 --> 27:26.240]  her mom, I can't take the pain anymore. I can't keep going. Her parents drove hours to find a
[27:26.240 --> 27:32.160]  doctor who tried everything, but she needed a private hospital. And that was impossible
[27:32.160 --> 27:38.000]  for her family to afford. And that is when Compassion International stepped in. Now,
[27:38.000 --> 27:45.120]  through compassion, Alejandra was treated and against all odds, she survived. She lived because
[27:45.120 --> 27:50.960]  someone just like you took action. Right now, unfortunately, there are children just like
[27:50.960 --> 27:57.520]  Alejandra who won't survive unless someone like you steps in. Compassion International partners
[27:57.520 --> 28:04.320]  with local churches, providing children with the support that they need, critical medical care,
[28:04.320 --> 28:12.800]  plus food, education, and the hope of the gospel, all in Jesus' name. So help a child just like
[28:12.800 --> 28:19.040]  Alejandra today. You can visit Compassion.com. That's Compassion.com.
[28:27.520 --> 28:53.840]  Especially since we, you know, we went off the petro dollar. I mean,
[28:54.640 --> 28:59.920]  it wasn't an official thing. We just lost it, right? In 2024, that agreement pretty much
[28:59.920 --> 29:05.520]  lapsed. And people have been asking me, is Venezuela about repropping up the petro dollar? Like, no,
[29:05.520 --> 29:09.840]  I don't think that it is. We're going in a completely different direction. And maybe they
[29:09.840 --> 29:13.840]  don't even know where they're going. But it's the, you know, the digital currency, certainly on the
[29:13.840 --> 29:18.640]  rise, the off-ramps from the stable coins and all that. We could, we could, we'll be talking about
[29:18.640 --> 29:24.400]  that in the months and years to come. No, that's institutional breakdown is what you're watching
[29:24.400 --> 29:30.000]  with the Egyptian issue. And I think that's going to start happening more and more where, you know,
[29:30.000 --> 29:35.920]  the hoarding of cash, the hoarding of commodities, because the bracing for impact, what comes next?
[29:35.920 --> 29:43.600]  We don't have trust and the trust is diminishing. And trusting us as far as, you know, being the
[29:43.600 --> 29:49.440]  world's reserve currency in this, you know, the stable country that we were perceived to be is
[29:50.800 --> 29:54.880]  completely off the table. Everything is coming unraveled because we're here at the end of this
[29:54.880 --> 30:00.320]  fourth turning and she saw a clip. I can't remember the woman's name. We've seen her on this Ukraine
[30:00.320 --> 30:04.880]  thing several times. She's notable because she's one of the youngest people in terms of leadership.
[30:04.880 --> 30:10.480]  I mean, we have this gerontocracy now, you know, ruled by really old people. She's in like her 30s,
[30:10.480 --> 30:17.200]  I think. And she came out and she's been the spokesperson for the EU in terms of Ukraine and
[30:17.200 --> 30:21.600]  things like that. She came out, she said, well, I think when we look at what's going on, we just
[30:21.600 --> 30:29.280]  need to have a drink. This is her remedy. It's so bad. I think the only way we can cope with this
[30:29.280 --> 30:34.000]  is just to get drunk and drop out of reality. And I think that's a harbinger of what's coming.
[30:34.480 --> 30:41.040]  I think that about sums it up. When they've reached, they've run out of, you know, run out
[30:41.040 --> 30:47.120]  of tools, whatever's in their tool bag, they've run out of. And, you know, I think you'll see that
[30:47.120 --> 30:50.720]  a lot more where just people just shrug because that's what we don't talk about.
[30:51.920 --> 30:56.400]  The elephant in the room, we don't talk about the debt anymore. Nobody really talks. You get like
[30:56.400 --> 31:01.760]  one kind, you get Thomas Massey. We'll talk about it, but you don't get, this is not even
[31:02.400 --> 31:06.080]  talked about by the so-called conservative movement. I think that you covered that well
[31:06.080 --> 31:12.160]  this week. Conservatism is dead. Modern conservatism. This isn't Russell Kirk.
[31:12.720 --> 31:18.160]  This isn't Pat Buchanan. This isn't any of those. There's no intellectual heft behind any of this.
[31:18.160 --> 31:24.560]  This is group think, cultish behavior and parroting, you know, headlines and things that are
[31:25.200 --> 31:29.840]  void of any sort of thought. And it's really sad to watch because that's the camp that I came out
[31:29.920 --> 31:35.440]  of. You know, I mean, I'm more of a traditional, you know, Edmund Burke or something type of.
[31:35.440 --> 31:39.120]  Yeah. No, it's not any principles. They're just trying to conserve the status quo. The status
[31:39.120 --> 31:45.680]  quo is given to us by the liberals who seek to destroy us economically and in terms of liberty
[31:45.680 --> 31:51.440]  and the rest of this stuff. But you've talked so much about the massive debt that we have that all
[31:51.440 --> 31:56.960]  these different countries have. I mean, it's just a sea of debt. And so it was kind of interesting.
[31:57.040 --> 32:04.000]  Van Eck, and this is an article off of Kitco, Van Eck analysts looked at this and said, well,
[32:04.000 --> 32:08.240]  you know, let's take a look. You know, what if we were to go back to gold as a standard? What
[32:08.240 --> 32:13.760]  would be the price of gold? It says if gold were to back M zero, that is the base money,
[32:14.560 --> 32:22.320]  it would need to trade at $39,000 per ounce. If gold were to back M2, which is broad money. And
[32:22.320 --> 32:28.080]  in terms of that, we're talking about, you know, M2 is things like including savings deposits,
[32:28.080 --> 32:34.080]  money market funds and things like that. M zero is really just kind of cash that is issued by the
[32:34.080 --> 32:41.040]  government. So if it were to go to broad money M2, it would need to trade at $184,000 per ounce.
[32:41.840 --> 32:48.560]  The price of gold in order to cover the outstanding debt that these people have put together,
[32:48.560 --> 32:53.280]  the money liabilities in a scenario where the only thing you got left is gold. And of course,
[32:53.280 --> 32:57.520]  the central banks have been accumulating gold as if it was going to be the only thing that was left.
[32:57.520 --> 33:03.680]  It's going to be what they have in terms of making a case for their legitimacy or making a case for
[33:03.680 --> 33:07.680]  their new financial system. They're going to need to have gold. That's why they're all racing to get
[33:07.680 --> 33:13.920]  it. And this massive debt that we have, just a sovereign debt in all these different countries,
[33:13.920 --> 33:19.600]  not even including the consumer debt that is there. It's truly amazing.
[33:20.960 --> 33:26.400]  It really reminds me, and I know people have done a lot of these analysis on what would it look like
[33:26.400 --> 33:32.160]  if we go back to a gold standard? When I first went on the air and I was on conservative talk
[33:32.160 --> 33:39.200]  radio in Dallas, there was a host there that argued that we couldn't go back to a gold standard.
[33:39.280 --> 33:44.080]  There's not enough gold. And I thought, well, no, no, no. I'm like, you got it backwards.
[33:45.040 --> 33:49.600]  Of course, there's enough gold. But they were saying, we have trillions of dollars. You
[33:49.600 --> 33:55.920]  couldn't make that into gold. And I thought, well, I guess that's modern conservative think.
[33:57.680 --> 34:04.480]  Infinite prints and other things. No, you'd have to be, if you have a limited supply of money,
[34:04.480 --> 34:09.600]  which is the way that you're supposed to have it. With sound money, you have a limited supply,
[34:09.600 --> 34:14.560]  which makes it valuable. You have to be fiscally responsible, which means you have to have some
[34:14.560 --> 34:19.920]  measure of sanity. You can't just do anything you want and build anything you want and bomb
[34:19.920 --> 34:25.200]  anything you want. You have to have, so it's the root of everything that's falling apart for us
[34:26.000 --> 34:31.440]  is fake money. Because you can just paper over everything until you can't. And I think that's
[34:31.440 --> 34:36.960]  why we're reaching end game where the institutions are coming apart and trust is completely diminished.
[34:36.960 --> 34:42.080]  The amount of corruption that we see is unprecedented. I mean, all this stuff that
[34:42.080 --> 34:47.600]  is systemic in everything we do, but it's worldwide folks. I mean, it's global. It's not just here in
[34:47.600 --> 34:54.720]  the US, all these central banks, it's a sad reality watch. And for them to, I mean, people
[34:54.720 --> 35:00.800]  will float this idea about gold standard. Well, we already have one. It's ourselves. And these
[35:00.800 --> 35:06.640]  governments are, you don't want the government involved with your gold, in my opinion, because
[35:06.640 --> 35:12.720]  look at what happened in 1933. I like the free market. Let the free market decide. You can have
[35:12.720 --> 35:18.400]  your fiat currencies. I mean, I would love it if we had a consensus in this country about fiscal
[35:18.400 --> 35:23.200]  responsibility and the evils of central banking and all the rest of that. But we're not anywhere
[35:23.200 --> 35:26.640]  near there. And if they would just take that and then they make it into a gold standard,
[35:26.720 --> 35:31.120]  it's not good for us. Yeah, your gold might go up and you're told to sell it or whatever it is.
[35:31.120 --> 35:36.000]  I just don't, I don't subscribe to that. Yeah, that's right. To that theory.
[35:36.000 --> 35:38.560]  I got a couple of questions for you from listeners here.
[35:39.120 --> 35:44.240]  Hey, it's Ben Ferguson. And I want to be honest with you for a second about how an act of
[35:44.240 --> 35:50.400]  compassion really feels. A couple of years ago, I made the choice to partner with an amazing
[35:50.400 --> 35:56.960]  organization called Compassion International. Why? Because I wanted to sponsor a child in need.
[35:56.960 --> 36:03.920]  It was a nice idea. Sure. But I had no idea just how much that simple act would change my life as
[36:03.920 --> 36:10.640]  well. I sponsored Nadia and got to watch her life change right in front of my eyes, going from
[36:10.640 --> 36:16.880]  starving literally alone on the streets to getting the healthcare and education she needs to reach
[36:16.960 --> 36:23.760]  her God given full potential. I got to be a part of that change and the light of that compassion
[36:23.760 --> 36:30.480]  not only illuminates in her, it illuminates now in me. That is the power of compassion.
[36:30.480 --> 36:37.440]  The light of Christ shines on all of us. Feel it for yourself and change literally a child's
[36:37.440 --> 36:43.200]  life, change the world. And you also change yourself. You can sponsor a child today.
[36:43.200 --> 36:50.880]  Visit compassion.com. That's compassion.com. Here's golf legend John Daley. Hell yeah,
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[37:12.400 --> 37:21.440]  Modo.us for more details. Modo casino, America's social casino. Hatchcar61 said, excellent that
[37:21.440 --> 37:26.240]  Tony's back. Can you please ask him why Wolfpack packages are taking longer to be delivered?
[37:28.560 --> 37:35.120]  Well, that's something on it. Well, my crew, and by the way, I have just great people
[37:35.120 --> 37:38.720]  and I look around sometimes like, how did all these people show up? I have all these,
[37:38.720 --> 37:46.640]  I have wonderful people and we ship everything out of Missouri. It has been a really efficient
[37:46.640 --> 37:53.200]  last 30 days. I know my crew is doing a great job. I think the mail is something that if you're going
[37:53.200 --> 37:59.520]  USPS, some packages do or UPS. That's an interesting question. You can always mail into the crew. I
[37:59.520 --> 38:06.800]  want to check your tracking number. Most of the time we're in real time. Like if your card gets
[38:06.800 --> 38:11.120]  charged, like on a Monday, most of the time, like on a Wednesday, you've already got a tracking
[38:11.120 --> 38:15.280]  number. So I don't know, I'd have to look at that. Well, I know things are changing in terms of
[38:15.280 --> 38:21.440]  shipping and we've used a service called Sendal and they just kicked us off. Karen is saying,
[38:21.440 --> 38:24.240]  what? What is going on? Did they go out of business? No, they didn't go out of business
[38:24.880 --> 38:28.560]  and she's asking them questions and they won't respond to her. And it's like, I don't know,
[38:28.560 --> 38:34.480]  we've been debanked in the past. We now have been de-shipped. I don't know what's going on with it,
[38:34.480 --> 38:39.200]  but we can still take stuff down to the post office and put it through. But there's some crazy
[38:39.200 --> 38:44.080]  things going on and Amazon has just said they're not going to use the postal system anymore. So
[38:44.080 --> 38:49.600]  that's going to be a big hit for the postal system, just like it was for UPS when they
[38:49.600 --> 38:52.960]  didn't have that business. And so, you know, there's a lot of things that are happening
[38:52.960 --> 38:58.080]  right now on the shipping side of it as well. It really is. And I, but I think it's all things,
[38:58.080 --> 39:03.600]  David. So many companies that I used to rely on for service and other things, I just, you don't
[39:03.600 --> 39:10.320]  get that same competency. And I ask other entrepreneurs and other people and they say,
[39:10.320 --> 39:18.000]  no, this is real. You're not going insane. It's just not the same. And, you know, even UPS,
[39:18.720 --> 39:26.320]  we have issues. It's funny because the girls who run my Branson shop, who do all the packing,
[39:26.320 --> 39:32.320]  they're used to run a UPS store. And I asked her, I said, so when we put in a claim with UPS,
[39:32.320 --> 39:36.320]  have we ever gotten the package back? Because we lose, when we lose a package for Wolfpack,
[39:36.320 --> 39:41.920]  I just replace it. So I just eat it. Like I don't ever get it back. And so it's funny. I'm like,
[39:41.920 --> 39:46.720]  have we ever gotten one back on a claim? She said, no. I'm like, so we just put it in just
[39:46.720 --> 39:52.160]  for the record. We put it in, you know, we never get that back. And used to, there would be a lot
[39:52.160 --> 39:58.320]  more of an investigation process. And now I just think that's, that's everywhere. So at least
[39:58.320 --> 40:02.640]  Wise Wolf, we've still got, you can get a whole, people call all the time and I answer the phone.
[40:02.640 --> 40:07.520]  And why wouldn't I? I mean, it's kind of like what you're talking about. We've seen this
[40:07.520 --> 40:11.200]  everywhere. It's a Cory Doctorow, the science fiction writer. It's kind of a rude term,
[40:11.200 --> 40:16.240]  but he calls it in shitification. That's really what's happening to everything. It's not just the
[40:16.240 --> 40:21.360]  software stuff and not just things online, but it's just everything. Things have gotten so
[40:21.360 --> 40:27.120]  complicated that nothing is working anymore. Like it seems like AP rumble seat says, I'd like to,
[40:27.360 --> 40:32.320]  I would trust Tony, but can you talk about flexibility to sell if you might need to,
[40:32.880 --> 40:37.920]  is that at all viable? I don't know much about metal investments. He says,
[40:39.760 --> 40:43.680]  I mean, we're, we're buying. I don't think this is a great time to sell.
[40:44.320 --> 40:48.000]  I mean, honestly, because you're not, you need to wait for things to stabilize. And
[40:48.800 --> 40:53.200]  because of the, the whip sawing that's gone back and forth, my buying rates,
[40:53.760 --> 40:58.960]  you know, I'm at 85% of spot on anything over an ounce of silver. And people that,
[40:58.960 --> 41:05.440]  why would you be that way? It's because of the, there's no end buyers. And David, I,
[41:05.440 --> 41:11.360]  I won't name the institutions. I'm three weeks from getting paid for a very, very large orders
[41:11.360 --> 41:16.240]  that have been with wholesalers, three weeks. That means that I had to take it out. People sold me
[41:16.240 --> 41:20.880]  stuff. I sold it to the trading floor. Trading floor hasn't paid me. And that's because they're
[41:20.880 --> 41:26.320]  backed up and, you know, this bottleneck everywhere. So I've had to make tough
[41:26.320 --> 41:30.400]  decisions on, you know, what I'm actually percentages I'm buying for. Now, if you're
[41:30.400 --> 41:34.320]  a Wolfpack member of your David Knight listener, just call me. We can do something a little bit
[41:34.320 --> 41:39.440]  different, but the majority of times for like physical walk-in shops. And by the way,
[41:39.440 --> 41:44.560]  it hasn't slowed much down. I mean, I just, I just may able to, I have a little bit more flexibility.
[41:44.560 --> 41:49.920]  I have to go sell stuff to the refiners or whatever, but you know, we don't have in this
[41:49.920 --> 41:56.480]  market. And what's funny is do you see rising prices, but limited retail buyers. And the
[41:56.480 --> 42:01.360]  reason this is because institutions are buying folks. Yeah. Institutions. That's right. And
[42:01.360 --> 42:06.400]  that's not, it's not, I mean, we had that last year. I remember that, that video, we talked about
[42:06.400 --> 42:11.120]  it at that point in time, there was a, a silver show, like a golden silver show, like you have
[42:11.120 --> 42:15.360]  gun shows and things. And, and this guy goes around and he talks to all the different dealers
[42:15.360 --> 42:21.520]  and I said, yeah, you know, silver, everybody wants to sell silver, but you know, the
[42:21.520 --> 42:25.200]  institutional buyers are getting everything and the price is going up and they're just,
[42:25.200 --> 42:30.240]  you know, the, the people off the street are coming in and they're not buying silver,
[42:30.240 --> 42:34.160]  but it's, it's all institutional in terms of buying. It's institutional. Yeah. Maybe they
[42:34.160 --> 42:41.040]  know something and maybe, well, the other thing is institutional, but more importantly, more than
[42:41.040 --> 42:46.560]  market forces, I think it's governmental. Yeah. Yeah. Well, and it's the chaos and volatility that
[42:46.560 --> 42:50.800]  we see everywhere. And you know, it's not just the tariffs that have created that kind of an issue.
[42:51.680 --> 42:56.400]  It is something that's happening through every type of business. Wally Walrus says
[42:56.400 --> 43:02.080]  gold got Gaddafi killed. Yeah, it did. That's absolutely right. We got the emails from Hillary
[43:02.080 --> 43:07.200]  Clinton talking about that and, you know, how they can't have him set up another standard in
[43:07.200 --> 43:13.040]  competition to the kind of Fiat system that they had in Europe. The banks don't want that.
[43:13.040 --> 43:18.640]  So yeah, that was peak Fiat. You know, that was peak Fiat was with, with Gaddafi and what happened,
[43:18.640 --> 43:25.760]  he wanted to do a African back gold back currency there, you know, and the interesting is the hunt
[43:25.760 --> 43:31.040]  family used to own the oil rights in Libya. And then there was that, you know, coup d'etat and
[43:31.040 --> 43:36.160]  the revolution. You got a Colonel Gaddafi, you know, never, never graduated being a Colonel.
[43:37.360 --> 43:41.280]  Right. They're the epicenter of a lot of things, weren't they? They were the epicenter of that too.
[43:41.280 --> 43:46.560]  We have a speak Fiat. If you go back to 2009, interesting metric, you know, after the great
[43:46.560 --> 43:55.040]  financial crisis, central bank buying of gold was almost at zero. And they would just relied on the
[43:55.040 --> 44:00.080]  dollar. I mean, market holdings were dollars. The world transacted in dollars. And that's the
[44:00.080 --> 44:05.200]  way it was until that. And that was a watershed moment. And central banks started buying gold.
[44:05.200 --> 44:10.080]  And now everything is just a race, not only for gold, but I think, you know, minerals,
[44:11.680 --> 44:15.840]  you know, silver, copper, all these other things that are going on, things that make the,
[44:15.840 --> 44:21.520]  that actually society runs off of and, and away from the Fiat system, they know what's going on.
[44:21.520 --> 44:26.160]  And that's the central banks are there. They're sick. The institutions are signaling to you folks
[44:26.160 --> 44:32.560]  what the future is. Yeah, that's right. Absolutely. Well, uh, gold in terms of the,
[44:32.560 --> 44:36.960]  you know, things that we have any control over is one of the few things that we can do, I think, to
[44:36.960 --> 44:43.600]  actually try to, um, um, move against this tide of chaos, you know, is the one thing that has
[44:43.600 --> 44:50.720]  basically retained its value. Um, and, uh, again, we look to God for our real provision, but, uh,
[44:50.720 --> 44:54.720]  in terms of things that we have control over that we should do something about,
[44:55.280 --> 45:00.720]  that is one of the few things that we can do to, um, kind of guard against and hedge against this
[45:00.720 --> 45:05.840]  kind of chaos and volatility that is deliberate as being put out there. It's not just stupidity.
[45:05.840 --> 45:10.400]  It is deliberate what is being done out there. Uh, and so I really do appreciate what you do,
[45:10.400 --> 45:15.920]  Tony worked with you for many years and, um, and what you do is you provide a way for people to
[45:16.480 --> 45:21.760]  get into that on a small, regular basis with Wolfpack. That is a really important thing.
[45:21.760 --> 45:27.200]  Of course you can handle large, uh, transactions one way or the other, but the idea that people
[45:27.200 --> 45:31.600]  can save gradually and you make that service available, that is really a valuable service
[45:31.600 --> 45:36.640]  for people to be able to gradually save into that, whatever they can put aside, uh, for the
[45:36.640 --> 45:41.360]  rainy day. Cause folks, there's a storm on the way, big storm. They like to talk about that.
[45:42.080 --> 45:48.480]  We've still got some time to dollar cost averages. Somebody emailed me yesterday and said that they'll
[45:48.480 --> 45:54.320]  come back to Wolfpack when prices go down. I thought, I don't know. It reminded me of that
[45:54.320 --> 46:02.480]  meme of the skeleton sitting at the computer, you know, like I don't know when prices are
[46:02.480 --> 46:07.120]  going to come down. I'm sure, you know, this is, and I don't know how you do your job because I
[46:07.120 --> 46:11.680]  don't know how you, you know, how do you, when it's this volatile, you know, how do you understand
[46:12.480 --> 46:17.760]  where things are going? It's got to really be difficult. I got a good team. I have a good team
[46:17.840 --> 46:23.600]  and, um, you know, we did a lot of planning for this. I think we just, it, it accelerated and
[46:23.600 --> 46:28.720]  went past. So I wasn't fully prepared. That's why I had to take December and part of January off.
[46:28.720 --> 46:32.960]  It's just been, well, that's what we talk about. Yeah. That's what we're talking about. We talk
[46:32.960 --> 46:37.680]  about hyperinflation and how, you know, prices are constantly changing in Germany or Zimbabwe
[46:37.680 --> 46:43.280]  or whatever. And, uh, you know, it's just total chaos like that. And yet, you know, what you're
[46:43.280 --> 46:47.680]  living with things are changing so quickly in gold and silver. It's like having to do business
[46:47.680 --> 46:52.480]  in a hyperinflation environment. Yes. What you're looking at. Yeah. I imagine then like you amplify
[46:52.480 --> 46:58.000]  it over, you know, your shops and then you got, you know, the direct sales and you got Wolfpack
[46:58.000 --> 47:02.640]  and he's trying to constantly keep up with, you know, are you making, you can, you keep the lights
[47:02.640 --> 47:07.840]  on, you know, because you have so many price fluctuations and we've been pretty lucky, um,
[47:07.840 --> 47:12.320]  because the deals that I needed walked in when they do, you know, like, oh, I need the supply.
[47:12.320 --> 47:18.560]  I get the supply, you know, so, uh, we're, we're, we're okay. Um, and I'm glad that we're built the
[47:18.560 --> 47:23.920]  way we, I'm glad I'm not over leveraged David. I'm glad I had that instinct to go do things,
[47:23.920 --> 47:28.720]  hoard things or do things, you know, or, or become a different kind of type of company,
[47:28.720 --> 47:33.040]  you know, like, uh, you know, I just know my limitations and what we were built to do. And
[47:33.040 --> 47:41.040]  Wise Wolf is, uh, was designed to be more closer to the earth to regular people. Um, you know,
[47:41.120 --> 47:45.360]  we're, we're never, we're not going to be this giant conglomerate. I don't want that for the,
[47:45.360 --> 47:51.040]  for my company. I just, I think the size of we are is perfect. Um, to serve, we can serve nationally,
[47:51.040 --> 47:56.000]  we can serve locally and, um, uh, you know, and keep up with prices and that's where we're,
[47:56.000 --> 48:00.480]  we're at right now. But, um, yeah, it's been an interesting time. I, I look forward to our talks
[48:00.480 --> 48:04.160]  weekly. I want to make sure that we're doing this weekly again. It's, I think it's good for both of
[48:04.160 --> 48:10.400]  us. So we just kind of, uh, been great talking to you. Yeah. It's been a while. And, um, and
[48:10.400 --> 48:13.680]  tomorrow we're going to have, uh, Gerald Slinty. It's been a while since we've talked to Gerald
[48:13.680 --> 48:17.280]  Slinty as well. He's going to be on with us tomorrow. I can't wait for that. We'll get his
[48:17.280 --> 48:24.160]  trends and predictions for 2026. Let's see which war he wants to focus on the most. He's got,
[48:24.160 --> 48:28.880]  it's like a smorgasbord there, you know, every day it's another war for Trump. It's crazy,
[48:28.880 --> 48:33.680]  but, uh, thank you so much, Tony for coming on. And again, uh, you can go to David Nighteye Gold
[48:33.680 --> 48:37.680]  and that will take you to Wise Wolf Gold, Tony Hardeman. That'll let him know that you're coming
[48:37.680 --> 48:42.480]  from Austin. So thank you, Tony, for what you do. It's been a great, uh, been a great year this
[48:42.480 --> 48:46.400]  year. And, uh, I know that it's going to be a great year for gold and silver this next year as
[48:46.400 --> 48:51.520]  well. Um, I, again, you know, when you look at, like you said, it's not going to be like 1980
[48:51.520 --> 48:57.280]  because 1980, the price of gold and silver was really a response to the shock of inflation from
[48:57.280 --> 49:02.800]  OPEC. And once that tapered down and they got that under control, then gold and silver went back down.
[49:02.800 --> 49:07.120]  But when we look in the horizon, what we're seeing here with this is completely different.
[49:07.120 --> 49:12.880]  We have so many different trends and they're not external, they're internal. And you got all of
[49:12.880 --> 49:18.080]  these different things coming together all at once. It really is like a perfect storm. It's like three
[49:18.080 --> 49:23.760]  storms for him. I guess that was one thing. What was it? The, uh, the QAnon people, the storm is
[49:23.760 --> 49:29.360]  coming. Well, they're right. Not in the way that they meant it though. Uh, but it is a storm that
[49:29.360 --> 49:35.040]  is coming through and it is a bipartisan storm that's been building up off the coast for a very
[49:35.040 --> 49:39.840]  long time and been building up in Washington for a very long time. So thank you again, Tony.
[49:39.840 --> 49:43.360]  Appreciate it. David Knight, that goal will take you to Tony. Thank you, Tony. Uh, we're
[49:43.360 --> 49:45.280]  going to take a quick break folks. We'll be right back.
[49:56.080 --> 49:56.880]  The common man.
[49:57.280 --> 50:03.200]  They created common core to dumb down our children. They created common past to track and control us.
[50:03.200 --> 50:10.000]  Their commons project to make sure the commoners own nothing and the communist future.
[50:10.800 --> 50:18.240]  They see the common man as simple, unsophisticated, ordinary. But each of us has worth and dignity
[50:18.960 --> 50:23.440]  but each of us has worth and dignity created in the image of God.
[50:25.600 --> 50:29.280]  That is what we have in common. That is what they want to take away.
[50:30.080 --> 50:36.160]  Their most powerful weapons are isolation, deception, intimidation. They desire to know
[50:36.160 --> 50:43.280]  everything about us while they hide everything from us. It's time to turn that around and expose
[50:43.280 --> 50:48.160]  what they want to hide. Please share the information and links you'll find
[50:48.160 --> 50:52.400]  at the David Knight show.com. Thank you for listening. Thank you for sharing.
[50:58.240 --> 51:04.400]  If you can't support us financially, please keep us in your prayers. The David Knight show.com.
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