GOLD and BANKS FRAUD AND FINES ‘Insiders’ Know the Plan Is in Motion – This Will Blow Up the Gold Price...

..With Transcript Below  

Feb 14, 2025 #Gold #GoldRevaluation #BRICS

Gold is making major moves, and behind the scenes, the system is shifting. Is the U.S. preparing to revalue gold to tackle its $36 trillion debt crisis? Are we seeing the biggest gold repatriation in history? And why is gold flowing from London to the U.S. at record levels? Andy Schectman, President of Miles Franklin Precious Metals, breaks down the gold revaluation rumors, BRICS’ gold-backed settlement plans, China’s aggressive gold buying, and the stress signals in the paper gold markets that could change everything. Key Points:

• Gold revaluation: Is the U.S. about to mark gold to market?
• Why is gold moving from London to the U.S.?
• BRICS and the global move toward a gold-backed system
• China’s accelerating gold accumulation—what’s their endgame?
• Paper gold market stress—could a COMEX default be next?
• Will gold finally break out—or will governments intervene?

00:00 Introduction 01:10 Gold Revaluation Explained 02:29 Expert Insights with Andy Schechtman 04:32 Global Gold Market Dynamics 10:52 Repatriation and Accumulation of Gold 28:13 Paper Gold System Breakdown 31:39 Bank Failures and Gold Revaluation 32:33 Global Gold Demand and Supply Issues 33:59 China and BRICS Nations' Gold Strategies 42:32 US Debt Crisis and Gold Revaluation 47:30 Gold as a Safe Haven Investment 48:07 Future of Gold Prices 59:06 Conclusion #Gold #GoldRevaluation #BRICS #DebtCrisis #ChinaGold #Silver #Bitcoin #GoldPrice #EconomicCollapse #Comex #KitcoNews #AndySchectman #FederalReserve #CBDC #MarketCrash #PreciousMetals #SoundMoney #GoldStandard #CentralBanks #DollarCollapse #GoldMining #GoldInvesting

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hey everyone welcome back to Kiko news I'm Jeremy saffron well there are rumors that the Trump Administration is exploring some creative and potentially

0:07

controversial ideas to tackle the massive debt spiral the US is looking at now one involves revaluing the country's

0:14

gold reserves gold that's currently valued at a mere $42 per ounce on the government's books when in reality it's

0:20

worth nearly $800 billion at today's market prices but what does this actually mean for the global gold market

0:27

and gold prices is this uh smart Financial strategy or just Creative Accounting here to break it all down is

0:33

Andy sheckman Andy of course is the president and owner of Miles Franklin precious medals he has three decades of

0:39

experience in The preal Meta sector and is very well regarded expert on monetary history political economy and also Andy

0:46

a fan favorite here at Kito news great to have you back great to be here Jeremy thanks for having me brother appreciate

0:53

yeah of course you know Andy we got so much to get into we were talking off camera it's just a new day of news it

0:59

comes at us quick and this new Administration is looking at a $36 trillion uh crumbling climbing debt

1:06

problem and another debt ceiling stalemate coming up and now we hear this talk about a potential gold revaluation

Gold Revaluation Explained

1:14

I mean some of these rumors are connected to uh what US Treasury Scott bessent treasury secretary rather had to

1:20

say at the start of February he was heard from in the Oval Office we have a clip let's listen to it

1:27

here yes sir this is very exciting we're going to stand this thing up

1:33

within the next 12 months we are going to uh monetize the asset side of the US

1:40

balance sheet for the American people we are going to uh put the assets to work

1:47

and I think uh it's going to be very exciting we're going to study best practices that's done around the world

1:52

there'll be a combination of liquid assets assets that we have in this

1:57

country as we work work to bring them uh out for the American people all right

2:04

you heard it there I mean some say this translates to the US Treasury revaluing the 8,000 plus tons of gold to Market to

2:11

Market Value uh which would be normal worldwide of course hundreds of billions of dollars to the balance sheet that

2:17

would bring we know that the US Treasury currently values it about $42 totaling $1 billion on the books current market

2:24

rates at about 800 billion if we look at $2,900 gold talk to us Andy first why

Expert Insights with Andy Schechtman

2:30

does a Fed no longer hold gold but certificates and why does a treasury have it and remind us again why it's

2:36

priced at $42 an ounce yeah well I mean the gold is supposed to be there the certificates

2:42

could be redeemed for gold at any time uh you know and and of course it hasn't

2:49

been audited since 1956 I believe doesn't Inspire much in the way of

2:55

confidence whatsoever and you know I found uh Scot pason's comments um very

3:03

interesting because if you take a a look at the balance sheet of of the US

3:08

government it's it's somewhat nauseating if you will um roughly five trillion in

3:14

assets of which the largest over 40% being student debt can't monetize that

3:21

the second largest would be military the bases and the guns and the bullets you're not going to monetize that land

3:28

is number three suppose you could but when you think about gold which is held to your point at 4222 an ounce and in

3:36

the rest of the world $35 an ounce in what is called universally on central

3:42

bank balance sheets can't make this up Jeremy the gold revaluation account that's the name of it the gold

3:48

revaluation account and you know having the head of the Dutch national bank for

3:54

the last two years be screaming that we should revalue Gold members of the bundis bank doing the same thing closer

4:00

to home Senator Cynthia Lumis from Wyoming who advocated for revaluing the

4:05

gold that the Federal Reserve is supposedly holding on behalf of the treasury to a level sufficient enough to

4:11

provide liquidity to buy Bitcoin for the Strategic Bitcoin account and of course

4:16

one of my favorites the lady I just interviewed with Judy Shelton is advocating for issuing treasuries pegged

4:23

to Gold uh and redeemable in gold and so a lot of these things are coming together there's a lot more that we can

4:29

talk about about this but for many many years gold was an afterthought in this

Global Gold Market Dynamics

4:36

country and it's not until just recently like now uh that you're beginning to

4:41

hear about it in fact most of my career Jeremy the Federal Reserve or excuse me the United States was a a net exporter

4:48

of gold and since November I wonder if that November is ironic that that coincide with the election We are

4:55

Becoming have become net importers of gold and well a lot more to this that

5:00

we'll talk about but the bottom line is is that um gold has kind of been usurped for

5:08

Central Bank financial instruments and it looks like things are starting to somewhat come full circle in an

5:15

environment where the treasuries have really lost a good deal of their luster

5:20

and much of the world over the last few years has chosen to let those treasuries that they were accumulating to finance

5:27

our debt roll off their balance sheet and replace them with gold because after all gold is the only other tier one

5:34

Reserve asset as reclassified by the BS bis in um BS there's a Freudian slip for

5:40

you a bis in 2019 as the world's only other tier one Reserve asset alongside

5:46

of us treasuries it's doubled the performance of the 10-year treasury gold

5:51

has over the last 25 years and maybe most importantly carries no default risk

5:56

no inflation risk and no sanction risk so yeah I think we're beginning to see gold become center stage and I'd love to

6:04

continue to pull on that thread if you want about what's going on uh right now with all of the gold coming into the

6:10

country the difficulty getting it out of the lbma and all the things associated with it and maybe with what Scott bent

6:17

uh is feeling about remonetized something on the asset side of the balance sheet yeah yeah well said and

6:24

we're going to get into it all here at kco news because of course is the mainstream media has been quiet we've been talking about it and I need to get

6:30

you you know I need to get your opinion on whether or not you think that 8,000 plus tons of gold is actually there but

6:36

before we do I want to go back to the revaluing of it because the US government hasn't allowed the public to

6:41

benefit from gold revaluations in the past I mean in '93 Roosevelt confiscated gold before raising the price and in 71

6:48

Nixon closed a gold window why wouldn't they pull a similar move this time well it's it's it's a different

6:56

environment altogether I mean you could you could in 33 when Rosevelt confiscated gold it was a different time

7:04

and you're right he took the gold from the people and then devalued the Dollar

7:09

by 40% making gold worth $35 from 20 um

7:15

that didn't really benefit the people other than those that hung on to gold now in 71 we could argue it did benefit

7:22

some of the people in the respect that the market revalued the price of gold to

7:27

where we are now at 2900 from that moment when we closed the window at at

7:33

35 I think this time it's very different this is a time where you

7:38

have half of the world looking at Gold very differently we've already heard from Delma russof the former president

7:44

of Brazil the the uh head of the bricks new development bank that they've agreed in principle to a settlement token

7:50

called the unit which is 40% gold backed uh and 60% bricks plus currencies this

7:55

isn't for the people this is for the banks and the central banks when you talk about what the bricks are doing

8:01

with the ability for the average person or B2B it's going to be bricks pay which isn't about gold Redemption what it is

8:09

is to reestablish confidence in a system that has lost all credibility and all confidence and if the United States

8:16

wants to have any chance at retaining its status as the world Reserve or as

8:21

the center of free trade or the pillar that it holds itself on I think they

8:27

need to find a way to marry gold and blockchain technology and this goes you know this dovetails with what

8:33

zultan posar has been saying for two years now that we have entered into a system called Breton Woods 3 which would

8:40

be a system that would be identified by accumulation of Commodities and transparency and if you look at what

8:46

Elon has said recently well let's let's put the uh let's put the government spending on a blockchain well how about

8:53

put the go the gold Holdings on a blockchain and and and in talking to Judy Shelton about this and to another

8:59

one of your questions that you kind of asked me I said Judy why hasn't the gold been audited at Fort Knox you want to

9:05

talk about reestablishing confidence in the treasury market by pegging it to Gold well what about the gold that we

9:10

actually own why hasn't it been audited and she says you're right they give lame excuses it's too much money too

9:16

logistically challenged and I cry BS so did she she said just spend a few million dollars wor the United States

9:22

for goodness sake and get the get it coordinated and get it figured out it doesn't Inspire confidence that it

9:29

hasn't been audited in a very long time nor does the way we have behaved um not

9:34

only in being the stewards of the world Reserve currency but in weaponizing the dollar in the treasury market this is

9:40

all about confidence and if confidence is completely and totally lost and the

9:45

dollar in the treasury is no longer demanded to that degree well it's really going to hurt the average person on the

9:52

street so yeah while this might not directly benefit any of us except for those that have hung on to Gold through

9:58

all of this uh it will definitely benefit everyone far more than it would

10:03

affect every well let's put it another way it would affect everyone a whole heck of a lot more if globally the

10:10

dollar is no longer demanded and is usurped by some other settlement currency across the globe and I think

10:17

people will realize very very quickly the privilege it's been of being the world Reserve currency uh and if that's

10:24

taken away from us I think those effects would would would be magnified to the end degree to the other side may not

10:31

benefit everyone but that would certainly hurt all of us if we lost world Reserve currency yeah Andy you

10:37

talked a little bit about Elon there for a moment we're seeing what he's doing with the Doge group going in trying to find these balances where Money's been

10:44

spent where it isn't you brought up Fort Knox there for a second do you think the 8,000 plus tons is actually

10:51

there part of me feels it's not uh and part of me feels that's why they're

Repatriation and Accumulation of Gold

10:56

doing some of the things they're doing and I don't want to look in 2019 I started talking about the

11:03

bricks when no one else was people told me I was crazy maybe I was stupid just to say it say it out loud um

11:10

dollarization Saudi Arabia pivoting the bricks and I said it in 4,000 YouTube

11:15

videos over the last five years I feel there's something else happening right now that kind of answers that question

11:23

through the back door I mean it doesn't Inspire confidence that we haven't audited and and when guys like Ron Paul

11:29

advocated for it he was shot down does that mean it's not there I don't know I think there's an it's a 5050 bet at at

11:36

best certainly um if it were there why not just audit it it belongs to the

11:41

American people it should be held in two locations the New York fed and Fort Knox if it really is there it shouldn't be

11:49

overly burdensome to audit especially nowadays um that that certainly I think

11:55

makes people wonder um but if you look at what they're doing right now there are things pointing to massive gold

12:03

acquisition just since November um that maybe is a stop gap for that now look

12:10

there's a fine line between conspiracy and reality Jeremy and I think we're treading that line but just since

12:18

November since we have become net importers of gold rather than net

12:24

exporters United States has brought in over 125 million ounces of gold and over

12:30

45 million ounces of silver from the London vaults into the US vaults JP

12:35

Morgan is set to deliver 4 billion with a be of gold into the comex for the

12:42

February contract and blle Masters who used to run the trading desk for JP you can Google it it'll pop right up she

12:48

said long ago JP Morgan does not buy gold for themselves it's for customers now I ask you what customers got four

12:56

billion in their back pocket to buy gold with let that one sink in for a minute and there are many other things related to

13:03

JP Morgan I might add just one more you know they paid a $920 million fine for

13:09

manipulating the metals market and always chafed my rear end that they were allowed to continue to to be allowed to

13:15

be the custodian of the world's largest silver trust SLV I mean that just didn't make any sense to me they they paid a $

13:22

920 million doll fine the largest fine ever handed out by the justice department at that point and yet their

13:28

trading desk made a billion dollars that year slap on the wrist you walk away 80 million up and you still get control of

13:34

the ETFs HSBC Bank always controll GLD but guess what just happened recently oh

13:41

that's right JP Morgan Now controls GLD so you have black rock and JP Morgan

13:47

holding SLV and GLD and when people have asked me over the years do you think gold will be confiscated I said no I

13:54

don't I think if they wanted to take the gold if they wanted to have the Lion Share of it all they would need to do is

14:00

say uh let's take the ETFs now nobody except the Insiders can pull gold out of

14:07

the ETFs and I'll mention about that when I'm done I know I'm kind of going a little further ahead of script here but

14:13

it's important and so um the Insiders are the only ones that can take metal

14:18

out of the ETFs you and I can't so if indeed they were to close those two

14:24

accounts be sitting on this massive stockpile of gold where right now in the two vaults that JP Morgan owns one in

14:31

London one in New York they possess more gold than over half of the dang G20 countries because of this custodianship

14:38

they could close those programs uh look the world in the face and say what we

14:44

didn't break any laws or infringe any civil liberties we have the right to do this we're closing the fund the money

14:49

that people had invested in gold is now in their money market accounts Monday morning they're free to go buy physical

14:55

gold and silver it would give them the ability to have their cake and eat it too now am I extrapolating yes uh is is

15:02

is do I know that this would happen no but it's a little bit uncanny and along those same lines since gold has been on

15:09

this wild tear right it's a little weird that 16 tons have come out of GLD just

15:16

recently fallen out in other words the conventional wisdom is well it's a

15:21

strong dollar it's high interest traits it's profit taking I call BS again it's

15:27

the Insiders redeem their shares for the physical metal and pulling it out to

15:33

have strategic control of it before whatever happens happens so you put it all together a tier one asset the

15:40

massive repatriation net importers four billion from JP Morgan 12 uh you know

15:47

all of these these millions of ounces pouring in to to of gold into the New

15:52

York uh um comx Market all of this stuff happening JP controll and G and SLV I

16:00

mean under the guise of tariffs now he's not going to tariff silver he won't it's

16:05

a structural deficit it will blow up our industry is he going to tariff gold or is he just saying that to get it all

16:12

home quietly under the guys of potential tariffs playing this the spread between

16:18

London and New York profit or is it something much bigger is it what Scott

16:23

pent is talking about to monetize the balance sheet is what Judy Shelton is talking about to issue Treasury is

16:29

colored to Gold well if the gold isn't there how do you get it oh I know here

16:34

it is and so I would simply say everything inside of me is screaming

16:40

yeah this is all hell of a lot bigger than just Trump tariffs and you know it almost seems like it's connected too I

16:46

mean to your point some on X have even floated the idea that the US government has a plan to you know as you mentioned

16:52

repe repatriate physical gold you know audit the physical gold monetize us physical gold use via these us treasury

16:59

gold bonds connect the dots for us Andy what does it all point to here it all

17:05

points to revaluing the price of gold which is held in the gold revaluation account every th000

17:11

$4,000 increase in the price of gold gives the treasury General general account $1 trillion free and clear

17:18

president Trump would tell scapa scent tell Jerome Powell to revalue the gold please doesn't even require um

17:26

Congressional approval it's it's in his prerogative to do so uh it would allow

17:32

treasuries which are losing demand to once again be perhaps in demand it would

17:38

Inspire confidence it would Inspire transparency especially if if put on a

17:44

blockchain like Elon is talking about it would give us the ability to start to pay down our debt at the same time what

17:52

is rising gold due to the dollar oh it weakens the dollar the dollar Falls in

17:58

in comparison to a rising dollar that's what Trump wants and so look I I think

18:04

that it it's an option my mentor Richard Russell used to say the FED has but two

18:10

options this was 15 20 years ago and they're way more indebted than they were then he said they have two options but

18:16

but to inflate or default well maybe option number three would be to revalue the price of gold which indeed would

18:22

inflate the dollar but would get us on a pathway perhaps to to reign in the

18:29

confidence that stands behind our treasury market would give us the ability to start to pay down now you

18:35

want to take it way out into the stratosphere but in a world where Bitcoin is $100,000 Jeremy I remember

18:42

2017 it was $400 in a world where Bitcoin is $100,000 just what if just

18:47

what if I'm just saying for what if what if they made gold 140,000 bucks just

18:53

like that and they say we will pay $140,000 to any Sovereign Nation who wishes to deliver their gold to the New

19:00

York fed or or to Fort Knox and we'll pay it now I'm not saying they're going

19:06

to but if they did the $36 trillion debt would be completely wiped out are they

19:11

going to do it probably not but my point is even at $10,000 an ounce as guys like

19:17

Jim Sinclair have said hey you got James Rickard who's been on your show before he says $24,000 ounce is his number you

19:24

put gold at 24,000 that means you just gave Six Trillion do free and clear to

19:30

the treasury general account to work its way out of this debt burden to inspire confidence to Peg it to the to the

19:37

treasures and Judy Shelton said to me Andy you know I was very close with Trump in his first Administration I he

19:43

she was the the treasur or the Federal Reserve nominee for Trump wasn't confirmed but she said um that they

19:50

discussed issuing these treasuries long and hard and says it is her belief and I

19:56

believe she'll be on the on the Federal Reserve board this time around but it is her belief that he will issue treasuries

20:03

backed by gold on July 4th 2026 the 250th year anniversary she told me that

20:09

she told me she believes Fort Knox will be audited and she told me not in so many words but more or less agreed that

20:15

gold will be revalued to a much higher level to do this now if it really was going to be in 2026 you have to have all

20:22

the pieces in place before you say here's our new gold back treasury um the

20:28

these pieces you know you look at all the dots you look at all the facts jery and and I mean in and of himself they're

20:35

all pretty significant put them together and like man could this be the picture that I'm seeing could it be maybe I'm

20:42

stupid enough or maybe I'm on to something to say it out loud my feeling

20:47

is that they are planning something much bigger for gold than we are all letting on have been L on to believe that it's

20:53

just repatriating it to take advantage of the spread between London and New York or to backfill in case of for these

21:00

naked contracts that need to have gold backing if if th they're those that stand for delivery no I think it's way

21:06

deeper than that Jeremy I think there's something in store for gold which is what the only other tier one Reserve

21:13

asset in the world that all the central banks are buying hand over fist it would benefit them all all of the central

21:20

banks and maybe that's what the plan has been all along not sure but uh why else

21:25

would the most powerful Bank on the planet the most power the bis reclassify gold as the world's only other tier one

21:32

I'll let your listeners think about that and decide for themselves for me there's a plan in motion that the Insiders the

21:38

central banks have known about for a long time yeah we're just finding out as it as it progresses yeah they're

21:44

starting to front run it and they have been as to your point a very long time and you know let's go back here for a moment because we touched about it just

21:51

briefly but you were obviously seeing these countries rush to repatriate their gold uh that is on top of mass amounts

21:59

of gold moving from London to us we had somebody on to kind of talk about this but I'm curious about your opinion give us the latest moves here what are you

22:05

seeing on the ground in terms of repatriation yeah and

22:10

gold movement squeeze yeah well it started in

22:17

201 17 I mean you could go back to 2012 the bundis bank said give us back our damn gold it took five years by 2017

22:24

they were Furious and you saw articles in the Wall Street Journal give us back our gold we did shortly after that the

22:32

um Bank of Hungary turkey Poland Austria the Czech National Bank the Dutch

22:37

national bank they all repatriated their gold from the New York fed and the bank of England in the past just in the past

22:44

very short period of time I will ramble off just some names and this would just be a a quick Google search Germany

22:52

Austria Slovakia Argentina the Netherlands Saudi Arabia Hungary Belgium Egypt senagal Romania Nigeria Poland

22:58

Ghana India turkey s Serbia France Venezuela Algeria Cameroon South Africa

23:03

Czechoslovakia and others they all brought their gold back from the New York fed and the bank of England the New

23:09

York fed and the bank of England have been holding everyone's gold to give access to the lbma and the comx the B

23:16

the Bank of India just brought back a 100 metric tons and hold nearly all of the gold that they've been leaving at uh

23:23

the bank of England and so this is about I don't trust you anymore this is about

23:29

uh if gold really is revalued and they do know what's coming and the bis like

23:35

when you look at what what these Banks did in 2017 all bringing back their gold 2018 those same banks that I mentioned

23:41

Hungary turkey Poland Czech Dutch Austria they all had been net sellers of

23:47

gold leading up to that moment in 2018 those Banks bought more as a group than they did in the 60 years previously

23:53

combined 2019 that number was doubled and then somehow miraculously the bis said by the way guys Gold's tier one are

24:00

you telling me that they weren't told this was coming and it's the exact same thing we're seeing now something is

24:06

happening when you see the the London bullion medals Association which is a

24:11

t+1 market I make my trade that's t plus one is a day to settle and I get my

24:17

medal it's now t plus 6 to8 weeks really where's my damn medal t plus 8 weeks

24:23

wasn't what I signed up for that's basically a default everyone is rushing to get their stuff as it's as if there

24:30

is an acceleration of a realization that things are about to happen by the people on the inside central banks have known

24:37

this for a very very long time and maybe now that Trump is in office you know the

24:42

the previous administration allowed medals to be suppressed I don't care what people say let's just get it out

24:48

there for the longest period of time gold and silver have been manipulated and suppressed the evidence is

24:54

overwhelming and they allowed it to happen and what has happened is that the the brics Nations largely many of them

25:01

have become coordinated sophisticated motivated and wealthy and they're playing we're playing right into their

25:08

hand over the last several years by allowing the suppressed price to be delivered the delivery option off of the

25:14

the the the the comex and the lbma something people rarely countries or big

25:20

institutions rarely exploited it was a cash settle it was a it was a

25:25

speculation it was hedging risk it wasn't standing for delivery and now they're all standing for delivery and

25:32

doing so in I mean look around the world China says that they didn't buy gold for six months and then started doing it

25:39

again since November yet that's nonsense the import export numbers uh busted them

25:44

and said nah we see in fact there are articles saying they've been buying 10 times as much they're flying all around

25:50

Latin America in particular Peru all around South America and buying up Doran concentrate right from the miners I I've

25:57

validated this myself and talking to several of the mining Executives and yeah they're buying the the crudely

26:03

refined dor and the concentrate sludge sending it back to China and

26:08

disintermediating the market but if the people's Liberation Army buys gold not the pboc they don't have any obligation

26:15

to report it to to the IMF if they buy gold that's sludge or concentrate that's

26:20

not 999 pure that being the pboc they don't need to report that if a proxy

26:26

bank or a sovereign wealth fund does it they don't need to report it and it's it's not just China Saudi Arabia got

26:31

busted too no we didn't findy it really what's the import export number saying here you did sorry we must have made a

26:37

mistake we're seeing it everywhere and it's to the same degree why hasn't the US shown how much gold we have if we

26:45

know that ultimately we're going to move towards some sort of revaluation or Revision in the price of gold which is

26:51

held in the gold revaluation account you can't make it up it would do no one any

26:56

service to tell the world how aggressively they are accumulating gold

27:02

so to me it's not just the massive accumulation it's the repatriation to

27:08

your point that is vital to understanding this that you know Jean new house Chan new and how some I know I

27:15

hope I didn't butcher his name but he's done a great job in showing over the last few years how all of the Western

27:21

European banks have been importing gold but their gold to GDP ratio is almost

27:26

identical across every one of the countries as if they too know something is coming and are planning for a gold

27:32

revaluation after all the head of the Dutch national bank and many members of the bundus bank have been screaming

27:37

about this it's coming in my opinion and it's a perfect way to offset liabilities

27:44

in an era of massive debt accumulation fiscal and monetary irresponsibility and

27:49

suppressed interest rates that created all these problems this is one way a much more uh benign way out of the

27:56

problem or at least the beginnings of fixing the problem than outright default or hyperinflation yeah yeah well said

28:03

and lots to unpack I want to get into China I want to get into India's lease rates because you're crazy right now but

28:09

before we do that you brought up you know the derivatives and what have you when we look at the spread in this in

Paper Gold System Breakdown

28:14

the you know this so-called kind of crunch that's happening now is the paper gold system breaking down I mean Banks

28:20

use derivatives to suppress gold prices for decades but is this finally starting to unravel that's what it looks like I mean

28:27

let's talk talk the lbma for a moment I mentioned they're a t+1 settlement but now they're t plus 8 weeks a that that's

28:34

not right but let's just look at Silver it's the easiest to understand the lbma has 800 million ounces of silver in

28:41

their vaults of which they tell us that the ETFs like SLV has has 500 of those 800 million

28:49

ounces so that leaves 300 million ounces available call it the float the float is 300 million now the lbma will tell you

28:56

that they trade2 200 90 million ounces per day every day the entire float every day however they also will tell you that

29:05

those numbers are at least 10 times undervalued because they own under reported because they only report the

29:12

final settlement numbers at the end of the day not all the trades that went in to get it there so if they're 10 times

29:19

understated that means they're trading 2.9 billion ounces of silver per day off

29:24

of a 300 million ounce float that's three and a half times annual Global Mine Supply per day of which 90 plus% of

29:33

those contracts are paper naked paper nothing standing behind it on comc

29:39

Silver is is is reh hypothecated and gold re hypothecated meaning um everyone

29:46

owns this one contract but I sell it to to 20 people the same

29:51

one No One's Gonna know right yeah that's like Bernie maid off until someone says no I'm GNA stand for

29:57

delivery now that's the theory behind the rush to get all this stuff back that's one of the theories well we got naked contracts if people stand for

30:04

delivery we're screwed what do we do let's get to gold here before the the tariffs are enacted well that's one of

30:09

the covers or one of the stories that I don't particularly believe but that's just it we are seeing deliveries to give

30:16

you an example of what I mean by deliveries like I said uh at the onset

30:21

you're talking the biggest deliveries that we have ever seen in the history of the comex market 50

30:29

9,296 contracts stood for delivery on the February gold contract at 100 ounces

30:35

a piece the previous record was in June 2020 47,1 32 that's

30:42

12,134 contracts at 100 ounces a piece more stood for delivery this February

30:48

than the largest delivery in the history of the colax market now that's

30:54

5,929 600 ounces hm where did that come from who's got that kind of money uh is

31:02

it maybe the government could it be they're bringing all this gold him JP Morgan delivering four billion in Gold

31:09

not to them to a customer who's the customer I mean and so these questions should be asked a lot more but in my

31:16

opinion there's something much bigger behind it now you want to blow up the price of gold and maybe that is what

31:23

they want to do uh after all that would devalue the dollar that would immediately reliquify the the treasury

31:30

general account expose the fractional scam that is either one of these

31:36

exchanges and watch what happens to the price of gold have a delivery failure by one of the big commercial Banks like

Bank Failures and Gold Revaluation

31:42

Bank of America who Ted Butler God Rest us whole said before he died that they had over a billion ounces short in in

31:49

paper on the OTC market and over 40 million ounces short in Gold could it be something like that were to happen to

31:56

trigger this daisy chain look there's a lot of fact out there a lot of what I've just told you is fact

32:02

connecting the dots well that's the supposition that's the should I take that leap of faith I'm not saying I'm

32:09

right I'm not saying this is going to happen but what I am saying is that they're putting themselves in position to blow up this paper scheme they're

32:16

putting themselves in position to revalue Gold to repatriate it to become

32:21

a net importer these are things that never happened never and all of a sudden like that since November it's like

32:28

someone flipped this the switch and there's a different script that everyone is going off of Jeremy yeah and is

Global Gold Demand and Supply Issues

32:34

fascinating to watch because as you mentioned and we've been talking about it you know we also have these major delays across the globe when it comes to

32:40

getting your hands on physical gold the wait time in the Bank of England is now around two months we saw several Chinese Banks saying that we've sold out their

32:46

gold products after that surge in demand and then I think we got these latest reports too out of South Korea their

32:52

mint has temporarily suspended sales of gold bars noting signs of widespread tightness across the markets so I mean

33:00

you just kind of explained what's going on here possibly government's for uh front running this but if that's the

33:05

case who's winning the race well I mean you could argue for the

33:11

last several years that it's been China and the bricks Nations who have certainly gotten out to a massive head

33:17

start and maybe that's why you're seeing such enormous amounts I mean Trump doesn't do anything small now does he

33:23

and maybe that's why you're seeing such an enormous race since November I mean

33:28

if they took a look and said' do you understand what Trump was talking about the bricks and losing the world Reserve

33:33

status on his campaign Trail and said this would be worse than any lost War he's right and he saw what they were

33:39

doing and maybe that's why he brought in Scott bent whose largest holding is gold and maybe that's why since November not

33:46

since he took office but since November the Insiders were alerted and

33:51

start repatriating their gold I mean it's a we have a long way to catch up but I would argue that they to in my

33:58

mind look the Chinese are the largest producers of gold in the world pretty dang close to the largest producers of

China and BRICS Nations' Gold Strategies

34:04

silver also it's arguable or first or second they've been they're they're net

34:09

importers of both uh they they they hardly sell an ounce ever they became net importers of silver recently they

34:16

were net exporters they're flying around the world buying Dora in concentrate they're buying up with their Belt Road

34:22

initiative all of the countries that they're associating with are MCH massively resourcer and underdeveloped

34:28

so they helped them build roads and bridges and Maritime channels and railroads and Gold and Silver Mines and

34:33

refineries for a piece of it and industrialize their countries and bring those resources to the market they get a

34:40

piece of it they understand you see the difference is the Chinese think in terms of decades we think in terms of days and

34:46

that's a problem they have been very methodical in their accumulation and in

34:52

their production and and you know their numbers stood at 12200 tons half of my career and everyone said I call BS

34:59

that's not true they never update their numbers everyone always said you can't believe the numbers that they say they

35:04

have way more if you just take the 3 to 500 metric tons a year since 2000 that they've been mining they have more way

35:11

more than we do Alistair McLoud one of the smartest dudes I've ever met two years ago said they have 38,000 metric

35:18

tons 20 by the state and 18 by the people probably a whole hell of a lot more now so China's way out in front but

35:25

it seems if I'm see this correctly that moves are being made if you will Jeremy

35:31

to yeah narrow that Gap by the United States and he stay on the East there for a second too because obviously we've

35:37

been talking about how China has been the top consumer on the gold front but now we're learning that they also have

35:43

you know ISS ures that'll be allowed to buy gold for the first time which could unlock billions of dollars of investment

35:50

uh talk about bricks Nations what are the latest developments you're paying attention to right now are there more

35:55

gold connections that you're watching f here well your point to China the the uh

36:01

their insurance industry is allowing to put 1% of their $4.3 trillion insurance

36:06

industry which is 43 billion into gold Investments I mean that's that's not chump change um we just saw Indonesia

36:14

become a full member of the bricks which is has the largest uh inground horde of

36:20

nickel on the planet their president wudo has called for an OPEC style cartel

36:25

of rare Earths over 25 countries or so have formally applied look what happened

36:30

to the bricks a few months ago is right out of a James Bond movie Jeremy and they're pissed off and they're not going

36:36

to be as forthright and open about what they're going to do now you know for

36:42

four years the the bis um um Innovation

36:49

Hub had said that um yeah we're going to help develop embridge with um China Hong

36:57

Kong Thailand the United barab Emirates all all um uh you know mo most of which

37:04

which are are in the are in the bricks and for four years they worked on developing it and embridge is the

37:11

crossborder payment system that's operational and and it's mostly Chinese

37:16

um technology but it it enables countries to trade Central Bank

37:22

digital currencies across the bridge unaffected by Swift uh it would

37:28

allow them to have uh full autonomy of trading with one another without having to go through the Swift intermediary

37:34

system without having the risk of sanctions in fact there were two trades done in 2023 both of them using digital

37:41

Yuan with United Arab Emirates one buying gold one buying oil it works um

37:47

and then as I mentioned Del marusa came out not in the meeting in Kazan but the one before that in um novag and and she

37:55

said look I had a meeting on the sideline uh with Putin and um what's his name uh his name I let me

38:04

just have it uh Sergey glazov who is the architect of all this and said uh We've

38:10

agreed in principle to a new settlement currency traded over embridge called um

38:16

the the unit not a common currency but a settlement currency 40% gold back

38:21

60% um bricks plus countries and then at the 12th hour right at the meeting

38:27

basically in um in in Kazan the big one well the bis comes out this named

38:35

um Augustus Carston's the the general director who's on his way out he says

38:41

you know the bis has decided we can't be a part of any project where one of the

38:46

members is being sanctioned by the West really Augustus so you're telling me

38:51

over the last four years you didn't realize that Russia was the RN bricks so they more or less developed the techn

38:57

ology got them to the finish line and then said nope we're out and pulled out yeah which is really dirty and that's a

39:04

western institution and uh I think it crystallized their distrust in the west

39:14

I think it will crystallize more countries a rallying cry wanting to join the bricks and they've changed the name

39:20

of it from mbridge to the bridge and they'll continue to dollarize trade in

39:26

local currencies and set any any um um imbalances in Gold until they come out

39:33

with a formal settlement settlement currency not a a a full currency but a trade settlement

39:40

currency so yes I think there's a lot happening with the bricks 25 or so

39:45

countries have formally applied we'll find out more as time goes on but I don't blame them for being mum is the

39:51

word not only with what happened with bis but also with you know the new White

39:57

House Administration I think it's better for them just to kind of fade off a little bit see what's happening and let

40:03

things happen a little bit more quietly yeah yeah that that makes sense I mean what does it mean for the us at the end

40:10

of the day because at the start of this year Fitch warned that even with a republican controlled government the US

40:15

debt sealing debate is far from being resolved I think the ratings agency is skeptical that Congress will reach a

40:21

quick agreement and as part of the 2023 budget deal the debt ceiling was temporarily lifted until January 1 first

40:27

of 2025 but that means lawmakers will have to revisit the issue this year to avoid a potential default while the US

40:34

Treasury still has months of flexibility the clock is ticking here Andy to your point Fitch downgraded the US R uh

40:41

credit rating back in 2023 after this debt sealing standoff uh said that if it expects further delays maybe it could be

40:48

the same let's talk about this how disruptive is this debt and this ceiling I mean what are we going to do here next

40:55

no one talks about the real problem you know I mean a debt 36 trillion that

41:01

sucks how about 99 trillion in unfunded liabilities in Medicare Part B 22 in

41:07

part D 77 in Social Security military and government pensions I mean you're talking 200

41:14

trillion and you know Jeremy most people if they work a lifetime will have made a

41:19

million dollars they probably don't save it but million is a number that is now achievable if you work hard and for a

41:27

long period of time you'll make a million bucks probably or darn close to it if you have a job and and and go work

41:32

till retirement um so it doesn't sound like a lot trillion but let's just frame it for

41:39

reference a trillion seconds ago was 31,6 188 years ago so if you made a

41:44

machine that printed dollars every second uh one two three without stopping

41:49

to reload ink or change paper it would take nearly 32,000 years to print one trillion so we're nearly 200 trillion in

41:56

debt how about the fact that over the next um three years by 2028 28 trillion

42:05

28 trillion in US government bonds will mature now you mentioned that doesn't

42:10

even take into account the one or two trillion doll deficit spending each year where we have to print more bonds just

42:16

to get ahead and a lot of these bonds that's why they're maturing by 2028 are short term that's what what Janet did

42:23

she transferred everything to the front end of the of the bond yield of the the bond market so you have all of this

42:29

short-term debt that is coming due in in 2028 and all of this you look at the

US Debt Crisis and Gold Revaluation

42:34

Congressional budget office a nonpartisan group in Washington says by

42:40

2031 uh 100% of tax revenue would go to pay just the interest on the debt and

42:45

mandatory entitlement spending that he won't touch and it's all off balance sheet like Medicare like Social Security

42:53

he won't touch it he's already said as much so how does the United States retain Supremacy not only financially

43:00

but militarily when everything like military spending which is discretional will have to be borrowed we are well

43:07

past the the Rubicon if you will of doing anything conventional so maybe

43:14

that is why they're thinking of revaluing gold because you can inflate as they always do you can default I

43:21

talked about finding a villain over the last several years and in the current Administration W that villain would have

43:26

shown itself I think in the brics nations in XI jingping in Putin in OPEC in ditching the dollar and the madness

43:33

that we saw the last four years so maybe this reinstalls our culture and some confidence in the system this new

43:39

Administration doesn't really address at all the fiscal and monetary problems in

43:44

fact they're they're going to continue to grow so what is the option that's why I keep coming back to revaluing Gold of

43:51

being the the most benign option I think it it wouldn't surprise me one bit at all to see that happen but you're right

43:58

the debt problem is something that must be addressed I look at it as Andy duin

44:03

crawling through the two mile tube of crap in the Sha Shank Redemption to get to the other side there is reason to be

44:10

optimistic look all of what Trump is trying to do and if I'm right planning on doing um I think ultimately makes

44:19

this a better country for our kids and our grandkids but it um it you still got

44:24

that tube to crawl through when you have mess with the world Reserve currency suppressed interest rates and created

44:30

all of these distortions misallocations of resources and capital and and and

44:36

incentivize massive indebtedness you got a tube of crap to crawl through to get to the other side there's no way around

44:42

it I think that is something that people need to understand that yes we should be optimistic for what lies ahead many

44:50

years ahead perhaps but in order to get to that benefit we have to suffer with a

44:56

little bit bit of short-term pain and I'm concerned about it I think most people should um but I will say this you

45:03

look at what the smartest most well-informed not just well-funded most

45:08

well-informed traders in the globe are doing and they're gobbling up all of the world's Commodities and in particular

45:13

right now gold and silver so don't do as I say do what the central Bankers are doing and if anything they know the

45:20

script just like they front ran the re the tier one revision just like they

45:25

always front run the information Paul Pelosi you tell him he's that good of an investor or did he front run some

45:31

information he knew the people inside front run and that's what the central Bankers are doing right now that's the

45:38

Playbook if you ask me yeah yeah I'm glad to get back in the gold conversation it'll kind of wrap us up

45:43

here where do you see the gold price at the end of the year and I know it's crazy but the end of the decade and I

45:48

know they they're two different timelines but I was reading this post on X from Luke groman and we'll show it

45:54

here it says quote as impressive as the rally in gold is the market value of Us

45:59

official gold is only holding back 9% of foreign held Us's now we have to get to

46:05

20% 6,300 just to get back to their 1989 levels when the US unipolar moment began

46:12

a 40% $12,600 just to get back to the LT

46:17

average let's watch what are your thoughts on these targets that's exactly what I'm saying I mean Luke is one of

46:22

the smartest guys on the planet yeah uh no question the dude is outrageously brilliant and in essence what he's

46:29

saying is gold would need to be 12,600 to get to that well and you know

46:34

James Rickard says 24,000 James Sinclair said 10,000 now these are all numbers that would require some form of a

46:41

revaluation if we just looked at history as an example the last 25 years gold has averaged

46:47

99.9% per year on average it was up 30% um last year it's up way over that

46:54

just in the few months so to to put a number on it would be nothing other than

47:00

guessing because there's so many things that could change that an easy answer would be 10% higher that's what it's

47:06

average on par on average for 30 years but I have a feeling something big is

47:12

happening and I will tell you in 35 years of doing this Jeremy I've never seen anything like what's happening

47:18

right now never ever so my guess would be higher than people think possible and I will tell you in 35 years when I

47:25

started in this industry the Dow Jones was 2,100 and the Nik was about

Gold as a Safe Haven Investment

47:31

30,000 and you know I went to a Conference in 1990 as a 20-year-old

47:37

starting this company with my father and guy says uh Gold's going to go I mean

47:42

the Dow Jones going to go to 10,000 he was literally booed and laughed off the stage and and it went four times that

47:49

high at the same time Japan uh back then um owned and the N was about 40,000 they

47:55

owned Rockefeller Center Pebble Beach Golf Courses casinos in Vegas ski resorts in Colorado anything with an

48:02

engine or a motherboard they made better they were taking over the world and it just recently let let's look at it right

Future of Gold Prices

48:08

now but I know it just recently for the first time in 35 years came back to

48:14

where it was when I when I was in this industry right now it's 39,000 so here

48:20

we are 35 years later and it's just back to where it was when I started in this

48:26

industry took a whole generation to get that high so what I'm getting at is that

48:31

markets will always fall far farther than anyone ever thinks possible to the downside and they'll always go higher

48:38

than anyone thinks possible to the downside I will tell you this most of my career gold was probably

48:45

$400 or less if you would have told me we'd be knocking on the door of 3,000 and the and the public you hear them no

48:52

neither do I they're sleeping the public in this country has been Mis Ed into

48:57

shiny things on the risk on trade in Nvidia and Bitcoin and apple and has completely missed this rally to 3,000 to

49:05

where the product inventory you can ask the operations at kcko they'll tell you the product inventory that they're

49:12

holding that were're holding that all the main Distributors are holding they're drowning in right now because the Public's asleep and if you would

49:19

have told me that was happening I would have said you're out of your damn mind I'll bet you anything now you put it in conjunction with the biggest scramble at

49:26

the upper Levels by the central banks to accumulate metal and and repatriate it

49:31

it's the greatest contrarian indicator I've ever seen and you ask legendary investors like Rick rule Rick how' you

49:38

make the most money he'd say buying when no one else was and this is as

49:43

contrarian as anything I've ever seen now there are people buying the people that know the Playbook but the retail

49:50

investor they're missing this one Jeremy they're missing it completely and totally so do you think it's

49:57

higher than people are prepared to accept and when it gets to that level they'll say gez did we miss this looks

50:04

like we missed it and you could say a lot of people said the same thing about Bitcoin you know I'm not I'm not opining

50:10

on bitcoin I'm just simply saying it can run away really fast and and by the

50:16

looks of it things are setting up for that to happen now I'm not saying it's gonna but I will tell you everything I

50:22

see would certainly be the steps that I would see happen in order for it to to

50:28

jettison and I want it to be very clearly understood when I talk about gold and silver to me it's wealth it's

50:35

not an investment it's been wealth for 5,000 years through two world wars German hyperinflation the Great

50:40

Depression every pandemic and everything the world's thrown at it and through all of that 5,000 years later what do we see

50:47

well it's now the only other tier one asset in the central banks can't get a hold of it fast enough or bring it home

50:53

fast enough and they're not doing that with anything else including Bitcoin do what they're doing don't listen to the

51:00

noise that's the best advice I could give someone not from me but from what the Insiders are doing and they always

51:07

know the Playbook and they always position before the people figure it out even the people who are very very well-

51:15

read on the mainstream Financial mainstream they're just most of them reading the wrong stuff and are being

51:20

misdirected into the wrong place and allowing the central banks to pickpocket

51:26

all the available uh institutional size bars up above that'll bleed its way down

51:33

here and very quickly what is a massive overhang in Supply just like that disappears seen it many times but the

51:40

backdrop we see right now is 10 times anything I've ever seen yeah and that's where the generational wealth happens

51:46

too and to your point I mean before I let you go here Andy we're just give you the whole thesis there I mean you know

51:51

Central bank's front running and they have been for an entire year now we have this squeeze why is the retail Market

51:56

not coming in is it just because the it's too high of an entry point I mean I always get asked covering this topic

52:02

they always say things like okay you're talking about a shortage but if demand is so high why isn't the price moving up faster we're up 15% year to date and

52:10

it's you know the middle of February it's moving up and it's moved up continuously but we have a whole

52:16

generation of investors where that ain't sexy right you're supposed to instant gratification not fast enough Jeremy I

52:23

need it faster now yesterday and if if you don't make triple digit gains in a

52:28

period of a couple weeks well that's that's that's stupid I'll just create my own meme coin or I'll buy a crypto or or

52:34

look at Nvidia and and that that has created fomo and it's a dopamine rush

52:41

really when you're making all that money and you figure you're a genius look what happened in Nvidia when when uh the AI

52:48

program from China came out fell 20% in a week or in a day rather you don't see that with gold what you basically see is

52:55

that you have a whole well and I guess there's one other point with that too at least right now and that is that you

53:02

know I mean 2021 2022 2023 was insane business-wise and it's still good right

53:09

now but the public is not part of it largely and after what we live through

53:14

in the last four years I was very vocal I come from nothing man nothing my dad

53:19

is middle name is Miles and his best friend who lent US 60 Grand to start this business in an office the size of a

53:26

closet before the internet his middle name was Franklin were the least likely cast of

53:31

characters to have ever succeeded I outworked people in athletics in in um

53:39

in finance in business always have and and no one gave me anything and when we

53:45

went to this world away from Merit Merit from merit-based um uh qualities to

53:51

lifestyle based and all of the problems with the judicial system the electoral system the immigration the lawlessness

53:57

in the cities this wokeness this craziness I mean I looked at it and with

54:03

disdain far more disdain than anything I saw fiscal and and monetary related and I was very vocal about it and I think a

54:10

lot of people deep down felt the same way and you get Trump in who's quickly

54:15

reestablishing the ideals of what it has always meant the meritocracy and and and

54:21

and you know I've done two interviews with cash Patel might be the smartest dude I've ever met in my life he looks right through your soul when he looks at

54:28

you you'll reestablish credibility in in the FBI in the Justice Department with

54:33

immigration with elections he wants to do the digital ID all of these things people are thrilled yeah we're getting

54:40

our culture back and you know what Hope Springs Eternal let's go out and buy this is going to keep going let's go

54:45

let's buy tech let's buy Apple let's buy Nvidia Bitcoin he's the Bitcoin president everyone is buying the risk on

54:53

trade and it's interesting that the most knowledgeable investors in the world are buying gold that being the central banks

55:01

so it's misdirection it's the Art of War sunso misdirect your opponent win the

55:07

battle without throwing a punch that's what's happening right now so I don't know why they're missing it and I'll

55:13

tell you it if it weren't for naked shorting on comx and the lbma prices be

55:18

a whole hell of a lot higher and and we don't know what the real price is maybe we'll find out but um those who are are

55:26

saying gold didn't do anything I will remind them that over the last 30 years it has out 25 years for sure it has

55:33

outpaced every single traditional investment on the planet it has averaged 99.9% per year it's up about

55:41

900% and it's beaten the S&P 500 with dividends reinvested it's doubled the

55:46

10-year treasury but it's the tortoise not the herin no one noticed the tortoise the whole way until the finish

55:53

line and um maybe there were a couple commentators like me saying look at the damn tortoise why don't you see in the

55:58

tortoise he's over there all they see is the hair running by and and I think in

56:03

the end um that will bear truth my

56:09

mentor Richard Russell said if you make 7% per year you're a rock star you will go down as a legendary investor That

56:17

ain't cool anymore that ain't sexy but in the end what goes around comes around

56:22

and I think that what Richard said will will will be proven to be true this is an anomaly in terms of um historical

56:31

context of markets things don't move like this and people have ignored gold because it just isn't sexy enough yeah

56:38

well we'll see about the next moves over the next few months here Eddie checkman is the president and owner of Miles

56:43

precious metals uh thank you so much Andy so much to think about and again we got 5,000 years of this medal we got

56:49

some history to look back at yeah man I mean if we're comparing it to to to just

56:54

about anything else there's there's really nothing else that has stood the test of time and and has not only

57:00

retained its purchasing power but here we are 5,000 years later and the most knowledgeable investors in the world are

57:07

still scrambling for it it has to mean something yeah well said thanks Andy appreciate it we'll get you on soon okay

57:13

pleasure is mine I always love coming on your show and I hope you and everyone else out there stay as well but thanks

57:18

for having me on thanks bro appreciate it as always uh what do you think about all this leave a comment below and be

57:23

sure to hit the Subscribe button I'm Jeremy saffron for us here at K news thanks for watching we'll see you soon

57:37

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