The BRICS Plans For Proposed Gold Backed Unit | Arcadia Economics

I think we’re coming to a point now where the unit and Enbridge are about to merge, and there’s a lot of details to that that we can go into bit by bit. And it’s transformational. It’s paradigm shift in international finance and economics. Right. It’s a generational event. Well, hello there, my friends. Chris Marcus here with you for Arcadia Economics and quite excited about today’s show because as you may have heard in some of the shows we’ve done in the past couple of weeks, I’ve been talking about and citing some articles about what is known as the unit, which we’re now getting increasing reports of this being discussed by some of the key figures in the BRICS, the new development bank, and reportedly by Putin as well.

And I had mentioned a couple of times that there was someone who told me about this a few months ago, and fortunately, we’re joined by that person today, who is Matt Riley from Eagle Ford Bullion. That is ef bullion. And great to have Matt on here, although, first of all, Matt, welcome on in. And how are you, my friend? I’m doing great, Chris. It’s truly an honor to be with you and get to talk to your audience and just share some information. Yeah. Well, I think there’s going to be a lot of people who will be interested to hear what you have to say.

Although one thing I wanted to mention before we get started is that someone that I know you were familiar with, because we did have some unfortunate news this past weekend, as Ted Butler of Butler research has unfortunately passed away. I had found out about a week or two earlier that he was not doing too well, and he did pass away over the weekend. And obviously someone that has brought a lot of attention to silver, the trading on the comex, and really dedicated his career to this. I was fortunate to have the pleasure to interview Ted a couple of times.

It was one of the chapters of the book I did recently, and certainly someone that a lot of people knew in the silver community. And just sad news to hear that he passed away. And, Matt, I know that you were familiar with Ted as well, and anything that you’d like to add there before we hop into today’s show? Certainly, you know, it’s just a reminder that we all stand on the shoulders of those who have gone before us. Right. And I’ve learned so much from you, your guests. I’ve been listening to you for four years now, and I’ve read everything that Ted’s put out.

Just kind of a ferocious consumer of information and he’s put out great stuff for longer than I’ve been alive. Quite frankly, he will be missed. But it’s a reminder, you know, next man up, we have to keep carrying the torch, make him proud, and keep doing the good work. Well, I think that’s well said. And again, prayers and warm energy to Ted’s family and certainly everyone who knew him. And with that said, like you mentioned, I think certainly, hopefully he was proud that there’s a lot of people that noticed what he did. He was a big influence in me ending up doing a show about silver that has led other people to become interested in silver and gold as well.

And, Matt, let’s dig in. And perhaps to start, maybe you could tell people just a quick bit about your background and how you started coming across what you’ve been seeing about the unit and project Enbridge and some of the things that you think the BRICs are moving forward at this current time. Yeah, you know, background. Im just a curious mind. And thats led to and kind of stems from a 20 year career in military intelligence, but retired from that now and, you know, in spring, say, January 2020, I think a lot of people kind of had a shock moment wake up, right, where you start reconsidering what’s true and what’s not and meaning of life, blah, blah, blah, things like that.

But I found you as a source of information at that time, and I just say now, thank you so much for what you do, the guests you have on. It’s been a tremendous learning process for me, but that sparked curiosity. And I’ve studied economics. I have a degree in economics and all that sort of stuff. But hey, so does AOC, right? So that’s not really anything to hang your hat on, really. Just be curious. So I started digging into every sorts of information I could find. And you quickly find that the bis kind of runs everything, or at least they like to give the impression that they do if you dig deep enough.

And which led to project Enbridge and studying on that, reading on it, um, learning everything I can, and then coming to find unit, you know, the unit white paper’s been out at the unitfoundation.org for almost a year now and finding that understanding who’s behind it and how Sergey glass been plugging it and talking about it. You know that. Yeah, that white paper. It was just that white paper when you went to the website previously until about, you know, three months ago, they updated it. But I highly encourage everyone, please just go read the paper. It’s ten pages, you know, it can be a little bit academic at times, but the frequently asked questions section is also very helpful and explanatory.

And I think we’re coming to a point now where the unit and Enbridge are about to merge, and there’s a lot of details to that that we can go into bit by bit. And it’s transformational, it’s paradigm shift in international finance and economics. Right. It’s a generational event. But yeah, I would start there and we’ll go into the raw source material and stuff like that, because that’s more important than what I think, or I’d say on the matter. Yes, and certainly the links for everything we share here, I’ll put in the description field below. So by all means, I would second what you said there, Matt, and encourage people to read the paper, although just for the sake of where we’re at today, for anyone who is not familiar with Enbridge or the unit, maybe you could give an overview of what we’re looking at with those two pieces and how they fit together.

Yeah, so I’ll just read a couple sections directly out of the unit white paper. You know, that way people on their drive to work don’t have to go read a ten page paper. You can just get the point right in the beginning of the abstract, it says, we introduced the fractal monetary framework, which allows global financial systems to function without directly using any national currencies for international trade and reserves. The unit is designed to serve as a convenient and stable global currency alternative within the existing financial infrastructure. It is also expected to be more resilient than any national currency to political exigencies of the day.

Important things to note further down in the paper. The unit token is not a cryptocurrency. It is not a stable coin. It gets confused a lot between it’s going to use distributed ledger technology, but it is not a permissionless blockchain where anyone can get on and conduct transactions. It is a permissioned blockchain. Very important to distinguish that kind of further down in the introduction, it tells us governance of the unit ecosystem, structured as a decentralized, autonomous organization, can be substantially enhanced by cooperation with an international governmental organization endowed with international legal personality, as governed by the current intergovernmental agreement, the 1980 Budapest Convention.

Such an IO may act as a custodian for the decentralized, autonomous organization that underpins the unit ecosystem. This is where it gets into political decisions. This isn’t something that the writers of the white paper are going to decide. Heads of state level decisions about who will oversee and implement such a system. Let’s see, other important things to note. The unit as a whole, if you take 100% of the basket, is 40% gold and 60% other currencies with no currency taking up greater than 30% of the basket. So that’s one. No single currency can dominate gold as the determining value of a unit, and so that no currency essentially becomes the new international reserve currency, that gold is the reserve.

It’s clear that several BRICS nations, long before, even before BRICs existed, have been preparing for this moment, particularly China. You can look at their books and what they publish as far as their gold reserves and ensure their official gold reserves that they report have been growing substantially over the last 18 months. But I could point to a half dozen credible sources that would indicate their gold holdings between the state foreign exchange held and in their hell with their population easily exceeds 20,000 tons, probably pushing closer to the 30 to 35,000 ton mark with what’s held by their population and what’s held by the big four banks, other state banks, things like that.

They’ve been preparing for this moment, and I think it’s pretty indisputable now. Is it called unit? Is it called whatever it’s called? Unit as a framework, is going to be the foreign exchange mechanism that’s implemented. And all this ties back to Enbridge, which has been running longer, quite frankly, because when you read through the unit white paper, it talks about, you know, fractal design and node infrastructure. And as soon as you read that, if you’ve been reading Enbridge documents like I have since 2001, it immediately points to Enbridge. That is the structure. Now you can make an argument one way or another, like how much did the creators of unit and the white paper know about Enbridge and things like that? Ultimately, it doesn’t matter, because through Sergey Golaziev and obviously President Putin, it’s now on the table.

Pepe has been writing about it, other sources have been kind of hinting at it, and now it’s out in the open. That unit is on the table. Well, when these finance ministers get together, or BRICS, and this working group gets to talking about how they’re going to implement a new monetary system, what does PBOC bring to the table? They’re going to bring Enbridge because that’s their baby. Well, Enbridge, you know, it’s run out of the Bis innovation hub in Hong Kong. The BiS would love to say it’s theirs. It is not. Ultimately, it started as cooperation between Thailand and Hong Kong it was project entheon in Thailand and Project Lion Rock in Hong Kong getting together and then the PBOC getting involved and then bringing in the central bank of UAE, which is an interesting choice of central banks to bring in that we can get to in a minute.

The PBOC runs that show they use the BIS to the extent that the BIS is useful to them and to the extent that it provides international legitimacy, it brings in, it provides a coordinating mechanism for observing members, particularly from the west. And they’re not hiding what they’re doing. They’re pretty open. The Fed knows this, the IMF knows it, the ECB knows what’s going on at Enbridge, and they know exactly where the PVOC is going with it, but it scares the shit out of them, and rightly so, because it’s going to take their punch bowl away. In the meantime, they’re just trying to develop a parallel system that hopefully they can get at least the g seven and western world to buy into so that not everybody goes on Enbridge and keep fiat dollar system alive.

But, yeah, sorry, I feel like I’m rambling a little bit, but I kick it over to you to what kind of follow up questions or where do you want to go with the details of Enbridge or the unit? Yeah, well, I thought it would be good to do a little bit of a recap and put some of the developments. And I say that in the sense that I think it was January or February when you and I first talked. It was before the prices of gold and silver had been moving up. Obviously, we’ve seen the Pepe Escobar reports since then and a few of those I’ll pull up.

And I think it’ll be helpful for people to see that this isn’t just you saying it now. Now we’re seeing this reported and reportedly Putin being involved and aware of this as well. Although before we get to that, I remember one of the things I asked you back then was, do you think this is something that if it does transition as you expect, that that would be able to occur with gold staying in the same pricing environment? And I believe we probably right around a little above or below $2,000 gold at that time. And you felt that based on what they’re doing and the magnitude and size of what they’re doing, that that’s finally going to have to move it.

I say this in the sense that obviously gold and silver we’ve had, people have been following this for a while. We hear different events and wonder if that’s when things start to change. Yet you felt that it would require a higher price, and we’ve seen part of that. Would you say that you think this is what really has been driving the rally that we’ve seen over these past three, four months now? Yes, it is. Without a doubt. They need a higher gold price to provide liquidity to a new financial system. The trillions in us treasuries that back the current international monetary system need to be replaced with something as a reserve asset.

And then they’re going to put gold on the yield curve just like Judy Shelton has talked about for years. And recently you see reports about, she’s mentioning issuing a 50 year us bond at 2% or something like that, payable in gold. Well, that’s the direction brics are going. And just like in the seventies when oil quadrupled, they did that Kissinger and shake, Imani and OPEC, they did that to back the dollar because it went off the gold standard in 71. So how do you back us treasuries? And, you know, for anybody watching, you know, I’m a poor man’s Luke Groman, you know, just go read and listen to whatever he said, because that’s where I’ve gotten it from.

As far as an understanding of the last four years. Anyway, I would strongly recommend an interview he did, and I think it was March of 22 with Grant Williams. If you want a history lesson rundown, that’s the most condensed version. I think that’s very usable as a background for understanding what happened to oil in the seventies as far as backing the financial system. Well, now they need to do that with gold again, and they need to make the gold market big enough to support the liquidity requirements of international trade. That doesn’t happen at $2,000 gold. Yeah, and we have seen that so far.

And Matt, I am going to pull up a few of the articles that we’ve been referencing here. Was one that, again, you were the one who shared this, and I thank you for that. And I think a lot of people who’ve seen it now also appreciate that you shared it. This was from Pepe Escobar. And it was interesting because again, we’ve heard Sergei Glaziev give many speeches and published in several papers websites where he talks a lot about gold. What’s less clear is how much influence does he have in making the decisions here? Although what was interesting about this one, he has a lot of influence.

And perhaps you could explain what you know about his role. And maybe even before we dig into a few of the notes here. Yeah. So Sergey Glasiev is an influential russian politician. Right. We look at him through an economic lens because of his role currently, but he’s been in the state Duma twice. I think he’s been a politician. He’s run for president against Putin in 2004 and obviously lost, but he got some percentage of the vote. But he’s an economist by trade, and while he’s run against Putin, he is in the inner circle, and he has Putin’s ear closely.

He was actually, at one time, considered as a potential for running the central bank of Russia before Elvira Nebula was selected as the role. But his disdain for the Central bank of Russia and their policymakers can’t be hidden, really, and some of his writings. But if you look back at any of the interviews he did, especially throughout 2023, you’ll hear him refer to, you know, we’ve tested this, you know, concept or this academic proposal, and we found that it’s resilient. It will actually strengthen as more weight is placed on it. He’s talking about the unit concept, and eventually, you know, I think in an interview in October of last year, he starts calling it that.

And it gets lost in the sauce, kind of, because it’s just in a sentence format. If you read it, you know, the people. He didn’t highlight that, you know, big u, big and big I. Big T like unit as not just a word in a sentence, but a concept and something that’s much larger than it would portray. So he’s been referring to this for a while, and he’s been talking to Putin about it, and it’s been part of the russian plan for at least a year. And they used to, in the first iterations of the concept, he wanted to have a basket of commodities and a basket of currencies all linked together.

They’ve obviously kept a basket of currencies, but when you try to put a basket of commodities in there, it’s too open to manipulation from the kind of financial anchor side. How many different grades of oil are there, much less wheat or different values of copper in different places, because the logistics of moving it. So he eventually simplified it to just gold as the 40% portion of the commodities. It’s always been the best money because it’s not useful for much else. That’s part of what makes it great money. But now he’s in the position of the minister of economics and integration for the Eurasian Economic Union, and he is probably the principal advisor who is the go between between Putin and other Brics counterparts.

The Central bank of Russia and Nebula and other counterparts are obviously involved in these BrIcs ministerial meetings. But Gladyev is really the player at the table, from the russian side at least, pushing, pushing the progress toward gold. And I will pull up. There was actually an interesting quote from him in this article we had here here by Glasiev. I’ve been following the development of unit for more than a year, can confirm that it offers a timely, feasible solution. And he mentions new Development bank and BRICs plus shall embrace the concept of unit and help it to become the pinnacle of the new emerging global financial infrastructure.

And again he mentions how it is anchored by physical gold and Brics plus currencies, as we mentioned before. And Matt, something else that I thought was important to highlight in this article we have here, that is May 13. So just about a month ago, and I thought this was an important one. And again, it’s from Pepe Escobar. Now comes the clincher. The unit has already received backing by the BRICS Business Council and is on the agenda at the crucial ministerial meeting in Russia next month. This means the unit has all it takes to be on the table as a serious subject discussed by BRICS plus and eventually be adopted as early as 2025.

So again, I say this as confirmation, not just you saying it, but here we have this being reported and anything you could say about the current stage that things are at and what may come from some of these meetings that are upcoming in the next couple of months. Yeah, some, you know, I like to distinguish between what I know and what I think, and this is just informed opinion, but, you know, there’s all the hubbub last October, before the previous South Africa Joburg meeting with BRICS, you know, new currency, new currency, new currency, and, you know, people going back and forth saying it’ll never happen.

And, you know, a lot of confusion, but it’s got to be planned. Things don’t move ever. Nothing ever moves as fast as you think it’s going to move. But especially at the nation state level and beyond that, the international finance level, these things take a lot of time to plan. Unit and Enbridge were really both effectively mature by last October. But you have to have heads of state get together and say, yes, go forth, you have my permission. And they all did that last October, and they came out of that with a mandate for their financial ministers to get together, and they’ve been doing that intensely ever since then.

And this is what you see, meeting after meeting, continuing to refine the legal and governance side there has to be very clear lines delineated for how foreign exchange works. What’s the technology requirements for the system, who controls what and where are the lines and how do we change rules, how do we admit new members? All that has to be figured out and that’s what they’ve been hammering out for the last year. So now by the Kazan summit in October, I think they will be ready to say, yes. Good job, finance ministers. You figured out the problem that we set out for you a year ago.

We have a solution and we’re going to implement it. And they don’t implement it the day that they say yes, go forth and conquer. It’s going to be January 2025 or in phased approaches right around wasn’t built today, that sort of thing. So I think that’s what you’ll see in October at the Kazan summit is you will see an official announcement of some version of a distributed ledger, technology backed sovereign monetary system that allows nations to use their own currencies within their own borders and even outside their own borders with the permission of the central bank where they can maintain whatever capital controls that they want.

Obviously there’s pluses and minuses to that, but essentially they have sovereign control of it and the technology is done. Enbridge has already set, you know, you saw the minimum viable product get announced, but they’ve been doing transactions on it for the first half of this year. They did the pilot back in 2022. And they, the four central banks that are part of that really went through that. This whole process that you see happening with the BRICS finance ministers, the four participants and even some of their observing participants have already done this. They did it in 2022 and 2023.

So Enbridge is ready to go. And the nodes exist. They are co located with gold storage at the Dubai Multi Commodities Center, Shanghai Free Trade Zone, Hong Kong, Thailand. I think you’ll see when it comes in the Mumbai Commodity Exchange MCX. And they’re all going to integrate. And unit is just the foreign exchange mechanism that’s going to be plugged in there. You can see in the Enbridge literature. And at a recent conference about a month ago, Benedictine Nolans, who’s the head of the BIS innovation hub in Hong Kong, she talks about the process of how transactions happen on it and an off exchange effects mechanism.

That’s unit. That’s how they’re going to set FX in a stable way that isn’t linked to the dollar. They’re already doing transactions on Enbridge. Like I said, it’s just a matter of denomination, how are you going to denominate the transactions? Yeah. And also in that notice that we saw from the BIS last week highlighted here, that did have the saudi central bank joining Enbridge. Also, I know you mentioned you had some other thoughts on the United Arab Emirates. Obviously, they’re one of the four banks that are already involved. Also interesting, considering they did that large oil deal with India last year that did not include any dollar involvement.

And was there something else you wanted to add or touch on with the UAE? Yeah. So if you’re the PBOC and Hong Kong and Thailand, why do you go out and include the central bank of the UAE? I mean, seems random, but it’s obviously not. That is the largest physical gold trading center outside of London and Shanghai. 25% roughly. If you take the DMCC’s, the Dubai multi commodity centers stats, roughly 25% of the world physical gold transactions happen there. It is also geopolitically the most neutral state in the Middle east and best positioned to bridge the link.

Why do you think China was involved in the rapprochement between Iran and Saudi Arabia? If the petrodollar recycling in the us treasuries is going to end, you need to assuage the Saudis that Iran isn’t going to continue to be a problem for them. You don’t see the Houthis attacking them anymore. You don’t see a lot of cross border activity from Iraq and Syria and attacks against Saudi Arabia from that angle anymore. The UAE plays a part in that. And China’s rapprochement between Iran and Saudi Arabia. So they’ve been positioning themselves, the central bank, the UAE to be essentially the London of the Middle east in gold trade, financial innovation.

Where did all the russian money run to in February of 2022, when stuff started getting frozen? It went to primarily Dubai. It’s also the best avenue. There’s a tremendous amount of trade between Dubai or the UAE and India. It’s the easiest way for India to be incorporated into an Enbridge unit framework until they have their own nodes set up in Mumbai. That’s why you see central bank swap agreements and cooperation agreements being signed between the UAE and India. That’s India’s path into the BRICS financial system currently, so that they don’t have to rely on the renminbi or yuan or any chinese involvement effectively, because that’s a non starter for India.

Okay. And one other thing we have here, but this was interesting. This was the first Pepe article and he mentions, as it stands, a priority for unit conceptualizers is to inform the general public about the new system. Now, I don’t think they’re meaning that in terms of that you’re going to have citizens going around using this. This is going to be at the nation level, and if so, what do you think they’re getting at and why think they’re focused on getting general public awareness right now? The writers of the unit white paper, they’re just true believers.

Honestly, that’s my opinion, that they want to see gold monetized. They want to see a financial system that is independent from politics, and they express that, you know, verbatim in the white paper. I think there needs to be a distinction made between all the information you see on the unit website as far as investing in it and kind of getting in on the ground floor and that sort of thing. I don’t know what the unit website or any private use of the unit will become. You know, it’ll be different in different jurisdictions, for sure. Some jurisdictions will likely have at least partial, if not complete, convertibility of currency into gold for domestic citizens, depending on levels of freedom.

Right. That exists there. But no central bank, no international organization like the BIS or anything like that is relying on the creators of the unit website and the white paper for anything. It’s out of their hands at this point. The central banks are going to do what they want with the concept, and they’re going to dictate what level of direct involvement their citizens can have. So I would be cautious of any kind of direct investment in the unit website. Not to. They’ve done a great job, you know, not to knock what they’re doing. I just. I don’t know that that’s the best way to prepare for what’s coming.

Okay. Now in terms of where we are now and conceivably the thing being fully implemented, to what degree is there a chance as they’re moving things forward, they come up with a different arrangement or plan, or that they’re not. Maybe there’s some probability that they’re not ultimately successful in implementing the plan? Or do you see this almost as this is going through as stated in that white paper, or to what degree do you see the possibility for things to change or just maybe not get executed as ideally hoped for? There’s going to be a tectonic shift in the global financial system.

To what degree the IMF or World bank or bis or any vested players can subvert it. I don’t think there’s much chance, because it’s. It’s kind of like, you know, you take a shot at the king, you better not miss. They’re taking the shot. It’s happening. So they’re going to put everything they can into it. And ultimately, there’s no way for the western financial system to stop it short of cyber attacks, subterfuge, kinetic attacks. Unfortunately, that could very likely happen, because that is the only way for the IMF backed system to get a wedge in this.

But I’m pretty hopeful that that’s not going to happen. If you’re asked for a percentage, I would put it over 90% that brics is going with unit and bridge, some form or fashion, it’s going to happen. Now, the BIS wants to divert that, at least within the g seven and as broad an area as they possibly can, the IMF. And BIS wants to divert all this to Project Agora. You know, while their name is on Project Enbridge, they don’t control it. Project Agora is effectively a carbon copy of it where is just done within the IMF system.

And they can still use leverage against the third world commodity and labor producing countries to effectively enslave them, as has been done for over 50 years. So it will depend on how well China and BrICs, writ large, can give the poorer nations a way out. And that’s what you see them doing. For example, Ethiopia. Why was Ethiopia admitted to BriCs? I think it’s a test bed case for defaulting on World Bank, IMF and Paris Club loans, at least in some form or fashion. That’s what you saw happening at the end of 2023, essentially ethiopian financial authorities telling the Paris Club to pound sand, renegotiate with us.

Well, the Paris club is not accustomed to dealing with anybody that has any leverage against them. They’ll extend loans, but they will never mark down a cent. And Ethiopia is saying, you need to mark some of this down. And Paris club says, now, I don’t think we need to. Well, China already has. So you see the IMF and Paris club very pissed at China because they broke ranks from the creditor cartel and they’re giving Ethiopia, next will be Egypt and then Turkey, and, you know, go down the list. They’re giving countries a way out of IMF servitude.

So I don’t think. I mean, that’s why you see so many coups happening all over the world right now. IMF, CIA, you know, you name it, you know, pick your three letter agency and organization, doing everything they can, fighting tooth and nail to control dictators or leaders of nations, to keep them from going with the BRICS financial system and keep them in the IMF debt servitude system. Ultimately, I don’t think it works, short of, God forbid, world war three. And even then, ultimately, I don’t think that would work either. Yeah. Yes. And unfortunately, the way things are progressing, not making the world war three outcome again, you hope that’s still a long shot, although certainly when you look at some of the things we see unfolding on a daily basis, it is a bit concerning.

But back to the unit here, two more questions that will run by you today. Before wrapping up, I wanted to go through this paragraph. This was from Pepe’s more recent article where they put a little further details on it. So I’ll read some of the highlights of here and then we can get your comment. Highlight of the recent meeting in St. Petersburg, Putin stated that the BRICS are working on their own payment infrastructure, independent from pressure sanctions by the collective west. At a special meeting with Dilmo Rousseff, president of BrIcS New Development bank, they did talk in detail about the bank’s development and the unit which was first revealed by Sputnik.

And I would challenge that, I think, Matt, you first revealed it. Maybe you don’t have the audience the same as Sputnik. Who am I? Yeah, again, so I’ll dispute that sentence there. But anyway, we see here the 40% gold, 60% BRICS currencies. Day after meeting Putin, President Dilma had an even more crucial meeting with Sergei Glasia. And then this was interesting. Glaziev, who previously provided the academic backing to the unit, explained the details to President Dilma. They were both extremely pleased. A beaming Rousseff revealed that she had already discussed the unit with Putin. It was agreed there will be a special conference in Shanghai in September.

So again, I bring that up as just further confirmation. It’s not just a couple dudes in Russia who are sitting around in the basement talking about this, but the things that you’ve been telling me about for months. We’re seeing some confirmation here. Yeah, I’m really curious about that conference in September in Shanghai. The russian side, through Pepe and Lavrov and all the various russian interlocutors are putting out their side of the story and what they want to happen. Right. But China does things much quieter, and that’s why you see Enbridge at the state that it’s in without a whole lot of saber rattling from China.

That meeting and all the meetings that are taking place this year and bridge is being talked about just as much, if not more than the unit, and they’re going to come to this conclusion. So let me just screen share with you for a second here. And this is out of the October 2023, kind of the final Enbridge paper, right? But they have several going back to 2021. This is the fractal network that you see described in the top left multicolors there. What’s it exciting? If you want to happen? I think it’s a good thing personally, for various reasons.

But those are central banks with commercial bank nodes surrounding them. And that is the fractal network that’s described in the unit white paper. It’s already done. It already has nodes in multiple countries co located with gold vaults ready to go. So in China, this is their baby. So I would be hard pressed to believe that at the end of the day, when that meeting happens in Shanghai and all the other meetings this year, that this isn’t the technical and financial infrastructure that’s used to implement a unit foreign exchange plan. Yeah. So it’s important to realize with a couple notes here about Enbridge, a country does not have to have a CBDC to integrate.

It’s all organized on ISO 20022 messaging standards. That means that if they wanted to, they could integrate swift into this, they could integrate pretty much anything. SIPs, the chinese messaging system, FPS, the russian messaging system, just got a note. The Gulf Cooperation Council has a system, AfAQ, but I don’t even know what it stands for. But essentially it’s a real time growth settlement messaging system. Those can all integrate with Enbridge. They’re not recreating the wheel on the vast majority of this. It’s plug and play. It’s just a matter of what the denomination of the currency is that’s in the exchange and then what countries with net surpluses do with their surpluses.

Are they going to recycle it into us treasuries? No, they’re going to recycle it into gold and that’s what they’re going to store in. Well, it does seem like it is now getting pretty advanced as we see things moved along here. And Matt, if you could stop your share there. I had one last thing that I would like to pull up and get your comment, because something that if people have seen it, could be a bit confusing. You had an interesting response when we talked on the phone last week, but we’ve also had comments in the past two years from Foreign Minister Sergei Lavrov.

And this was at the Brics meeting last August. And question term common account is being mentioned increasingly often and they’re asking if he can say anything about that here. He says, nobody is talking about a common currency. Again this last August. At this point, all attention is focused on mutual trade, economic projects and investments, which is interesting, because if you go back to last January and hear what he was saying, self respecting countries are well aware of what is at stake. See, the incompetence of the masters of the current international monetary system want to create their own mechanisms, and we need to think about creating our own currencies within the framework of a brick of the BRICS.

So, a little contradictory, but I thought you phrased it well, how people might want to read this comment in particular here, where he said, nobody is talking about it. Yeah. So they’re not talking about common currencies. Every nation will still use its own sovereign currency. They’re talking about a common settlement unit for cross border trade, a new peg for FX, which is gold in the system. But it’s also important to note, Sergey Lavrov, from everything that I can tell, is a very competent foreign minister. But he is the foreign minister. He doesn’t have, you know, we all have 24 hours in a day.

He is not ultimately the expert in the financial system that is going to make this happen. When they have the BRICS financial minister meetings, he’s not there. That’s not his job. He wouldn’t have time to be good at his job if he was trying to be a financial minister also. So when he speaks, he is very informed, obviously, especially on the russian side and their priorities. But if he uses the wrong language or vocabulary or imprecise to the current time and what the plan is, it’s not shocking. He’s the foreign minister. He is not the economic minister or the head of the central bank or anything like that.

So keep that in mind. When you hear something from Sergey Lavrov, it’s politics. He’s foreign minister. It’s like asking the CEO of, or maybe the CFO of Toyota to describe the, say, the engineering of their solid state batteries. Like, he can probably give you a rough overview and a sketch, but he’s not going to accurately describe the inner workings of how that’s all going to work. So just keep that in mind and what his job title is and what he does when he speaks. Okay? And perhaps at some times, maybe not going out of his way to give the clearest picture.

And you could wonder if that’s some semantics where he says, we’re not working on a common currency. And in either case, that’s helpful to people as they’re seeing some of these statements, which I’m sure we’ll be seeing more of in the months and years ahead. And with that said, Matt, I think that covers what I have. Anything else that perhaps we didn’t touch on that you still feel people should know or that you wanted to add to what we have here today? Not really. You know, I’ve got plenty of opinions on all sorts of things, but ultimately, I just want to share information and sources so that people can come to their own conclusions.

And if they’re listening to you, they’re on the right trail, essentially. It’s not like trying to go out and convince a normie to stop listening to Bloomberg for financial world developments. That’s all I would say is they’re on the right course listening to you, people like you and Vince and Rafi and all the guests that you have on, I really appreciate what you do, and I know a lot of your audience does also. Well, that’s kind of you to say that. And thank you, and certainly I appreciate that there are people like you out there that I can have these conversations with, and certainly it’s been a lot of fun ever since we had that call a couple of months ago and then seeing some of these things come out.

So I thought, yeah, I could have gave you this spill a year ago, but, I mean, people have to see it develop before they’ll believe it. You know, it’s the thing about a paradigm shift, it’s hard to get on board with or understand until it’s already kind of, well, in motion. Yeah. And I mean, certainly you think about some of the gold and silver bugs from who have been thinking and studying these things since back in the eighties. My wake up was in 2009, so I couldn’t imagine tacking another 30 years beyond that. But, yeah, when you see something that is a long process in nature, then we’ve wondered, well, at some point, do foreign nations grow tired of the arrangement? Now we’re, we’re seeing that happen.

So it’s. And they have the means, you know. You know, it was, Tina, no alternative in the past, but at this point, there is an alternative, and they have the military and economic power to implement it while maintaining their defenses. Well, Matt, perhaps just the last thing could you mention where people can find you on Twitter so that if they f bullion is Twitter page, really, you know, it’s mostly business, but I kind of get into everything on there. I sell silver wholesale. I make. That’s why I see a press and all kinds of different stuff in here I make silver bullion, five and ten ounce bars primarily, and sell wholesale to retail customers.

I used to do some direct retail, but it really wasn’t worth the time as kind of a one man, one and a half man shop. So I just sell wholesale. You can find stuff at, let’s see, DSS coin and bullion on whatnot or us coin and jewelry out of Houston online. Rob Kings used to carry our stuff at gold Silver Pros. Yeah, right now I’ve got DM’s open. We’ll see what happens as far as traffic on that. But if anybody’s interested in custom, I have a couple custom customers that I make bullion for under their own brand capable of doing that.

But yeah, I appreciate your time, man. Well, I appreciate the research you’re doing and also that you’re active in the silver industry and certainly if anyone has things on the wholesale level, by all means contact Matt. You can do that through Twitter and hopefully at least we’ll give people a good length to follow some of these things unfold and perhaps we’ll maybe sometime sooner than later be needing to update this conversation as things develop. But appreciate everything you’re tracking and following along, making some time today and just thanks for doing that. We’ll look forward to picking it up again soon.

All right, thanks for talking, Chris. God bless you, man. Well, thank you to Matt for today’s episode. Sure hope you enjoyed that and thanks to everyone watching at home. Hope you found it helpful and certainly something I’ve been looking forward to doing and bringing him on for a while has obviously a lot of interesting insight that he adds there. So hope you enjoyed that at home. And before we wrap up, would like to just thank first majestic silver who kindly brought us today’s episode. And first majestic did have some exploration results out last week at San Demas, which Keith Neumayer was pretty excited about and he mentions drilling to inferred to indicated mineral resources at Perez Santa Regina and Elia has in multiple cases returned better than expected results.

Resource expansion drilling has confirmed the Perez vein remains open to the east and west and the Sinaloa mineralized system is open down dip. And taking a quick look at some of the results you see at the Perez vein, 10.87 grams per ton gold, 1034 grams per ton silver over 7.88 meters. Over at Sinaloa Eliavane system they had the 39.28 grams per ton gold, 1900 grams per ton silver over 1.76 meters. In Santa Regina they had 13.24 grams per ton gold, 1500 grams per ton silver over 0.94 meters. And I did also record a short video where we walked through all the results here, which I will link to the end of this video.

And I’ll also put the press release in the description field below. But congratulations to first majestic on their drill results. To find out a little bit more, just click on the video that’s coming your way now.
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