Hey, guys. Raf here from the End game investor and I’m here with my friend Phil of the Bitter draft today. Together we are the bitter endgame draft. And this is episode number something of that show. Phil, you make your introduction now. Hi, Rafi, how you doing? I’m doing very, very well. Things are going, things are going great. I am in talks. I don’t, I don’t want to overplay this. I am in talks with somebody tangentially, not very important, tangentially related to the, the incoming administration. He’s, he’s somewhat of a muckety muck. Now. I’m, he doesn’t understand gold as money, even though he actually sells gold.

He shills gold on, on, on YouTube videos and stuff. As an inflation hedge, not as money. Yeah, as an inflation hedge. You know, he’s doing, oh, you should buy Birch gold. But I’m trying, I’m trying to push him a little further and say, no, you’re doing the right thing here. But this other stuff you do because he does other videos and he does other interviews and stuff where he’s, he’s, you know, he’s just in the matrix. He’s just talking about the Fed, you know, Pal, pal needs to do this and Trump needs to get rid of Powell and take over the Fed.

I’m like, you know, you’re not, you’re not understanding this exactly. It doesn’t matter who’s then sitting in that chair. It is a Ponzi scheme. It’s going to grow exponentially until it blows up. So I’m trying to get him and I’m like the most. He has a big audience. He is a big audience. So I am trying to get him to say, you need to tell everybody right now the most important thing they need to do is stack some silver because this thing’s going to blow up. And I’m, but he’s, you know, it’s, it’s a slow process and he’s not an Austrian school economy.

He’s a liberty minded individual, but he’s not an Austrian economist. So this is, this is a process. I’m in talks. I’m trying to get them to, to understand our show. If we can, if we can, if we can get like someone, I mean even he doesn’t know, Elon Musk. But if we can like get it up the chain to where like Elon Musk is saying, hey, everybody should stack silver. I mean, we’re talking about avoiding the worst of the end game here. Yeah, yeah. Well, you’re, you’re A big thinker on that. I’m not really a big.

I’m more of like, you know, hide in a hole kind of guy. And doing this whole thing was very against my instincts, but, you know, here I am. That. Yeah, we were, we were discussing what we feel about the elections as two non MAGA people. We’re not, we’re not like huge Trump supporters or anything. We’re not really into the guy. But what I think I can safely say we are both into is the terror of what would happen to the United States and by extension, the entire planet had, you know, Harris been elected. And that was genuinely a terrifying prospect.

And I hope, for the first time since I understood that the endgame was coming, I hope and I pray that, that Trump has just a few months to set some of the most dire crimes or dire situations in order before everything collapses. You know, clean up, clean up the fda, clean up, maybe the CIA, that’s maybe asking too much. But Health and Human Services, Health and Human Services crap in our food. I mean, there’s so, there’s so many things that RFK can attack that, that I just, I’m having fever dreams about it. And it’s just, it’s so exciting.

Just the, just the, just, just the experience of being hopeful for the first time since, since, like 2019, where all I was hoping for was the end game. And then 2020 came and then, you know, life turned into hell and, you know, then it got easier in 2022 and 2023, and now it’s like, okay, I can handle this. It’s just like I have nothing to hope for except for the destruction of everything. But now, now I think that we have something, some little thing to hope for. We had two options. Either we were going to go into the end game with complete totalitarianism, evil, or we’re going to go into the end game with a little bit of mutual respect for each other and a little bit of common sense and a little bit of repentance as a nation, as a world.

I think, I hope that we’re headed into the second. A little flame of hope, but mostly just relief. Just relief. I’m the same. I, I was absolutely terrified of a Harris administration because, you know, I’m, I’m, I’m not worried about theft. You know, if, if Marv and Harry from Home Alone, the Wet bandits from Home Alone come and try to ransack my house, like, they’re not going to get anything. They’re not getting anything at all. Hello? Yeah, the little jerk is armed, but if the state, you know, if the state spends six, like, let’s say the end game starts, and then the state spends six months telling everybody, the hoarders and the stackers, the reason there’s no food in the store is because of the stackers.

The reason there’s food is because the hoarders, that it’s their fault. You know, they get everyone all riled up. And then the police come and knock. I mean, in the social administration, in a socialist government, the police come and knock on your door. They take you, they take you outside in the handcuff. You put you on the street, and then they dismantle your house brick by brick, looking for the gold. And then they take a backhoe and go through your property digging up your only man safe because they have a mechanical backhoe and there’s not, there is not a single thing you can do about it.

And your neighbors probably are the ones who drop the dime on you because, you know, if you think your neighbors won’t turn you out, like, should have dispelled that immediately. You know, if things get hectic and in a pinch, like you’re, you know, you can’t rely on them. So the. And then, you know, not to mention they can, the state can request all my bank records and they can find out, you know, who I bought metals from. They can go to those companies and find out exactly what I bought. And then they can take me into a dark room and, you know, in this socialist government, so they can take me to dark room and they can torture my wife in front of me until I tell them where all the gold is.

Where is the gold? And there’s nothing, you know, there’s. There and it’s all with the sanction of the state. So, you know, it’s, it’s a million times worse than theft, than some thieves. It’s a million times worse than some petty thieves, even worse than, like, things like cartels, because there literally is just no recourse. The state is just this machine that’s just there to destroy you. And the only thing you can do is try and run away. So we, we die. And I. That was a very real possibility. I mean, Harris was already saying, going to do price controls.

We’re going to start taxing unrealized gains. I mean, gold price going up. We’re, we’re going to, we’re going to control, we’re going to, we’re going to censor social media. She’s saying that like, what once, once you get, once you attack freedom of speech. Everything goes. Everything. Yes. So that was, I mean, that was, it was just worst case scenario. And I was just, I, my, my plan had. Harris. One was to make one final video saying, however deep you buried everything, bury it twice as deep. And then I was going to shut down my channel. Really? And you didn’t tell me that? Yeah, Harrison want.

Yeah, yeah, I was going. Yeah, absolutely. I was going to make a final thing and then I was probably going to like, rearrange some things and make things even more hard to get at. I mean, I cried. I probably would have cried and thrown up. It’s hard to describe the, the, the, the terror and the fear of, of the blue team winning at this point, knowing where we’re going. Look at it, look at any communist, socialist, whatever, fascist. Those are all the left wing, you know, totalitarian states. I mean, that’s, that’s what it would have been and we would have to move quickly, too.

So thank God we dodged that bullet. And what I’m hearing. Oh, sorry, what you’re hearing what, What I’m hearing from the incoming Trump administration is, is great. I like what I’m hearing. Yeah, hearing. Okay, fine, we’re hearing. But we need, we need to, like, there’s like these, these political machinations going on With Mitch McConnell initiating a Senate leadership race now, and Rick Scott is apparently the good guy, or as good as they come, which is, I guess, my senator in Florida. And then there’s the, there’s the neocons, which is John Cornine and this other guy, which we don’t want.

And like, we need like, like the red team or whoever Trump’s team is. We really need, we need to put the pieces in place now before he’s in office, in order to have a chance of anything real getting done here. I mean. Okay, so there’s two things I wanted to say. First of all, about Trump. Like, you know, when I was, when I was back in 2012, when I woke up, it wasn’t really in 2011 when I woke up and I understood libertarianism and I found Ron Paul. Right. That’s a whole thing. And I was, I was really into Ron Paul.

I changed my party affiliation from Independent to Republican so I could vote for him in the primary. And, you know, I made calls for his campaign. Like, I was really into Ron Paul, but in retrospect, to expect America to elect somebody like him, it’s not going to happen. So what’s the best that can really happen here is that somebody like Trump who represents the, I guess, the most crass. And base instincts of the decent American guy who doesn’t really know much, but he has decent instincts and leans towards liberty and makes a lot of mistakes and bashes things along the way and has a really vulgar attitude.

But you can’t help but be okay with the guy. And that’s who I expect the best of Americans can elect as a polity. And that’s what we have now. Okay? So I hope he surrounds himself with good people, which he has, and then, you know, you hope that the other team is outplayed by him this time. The way I see it now, and I’ve been trying to square the circle here of, okay, so Trump was not directly but indirectly responsible for the COVID tyranny. He was, there’s no denying that. How do I forgive him for that and give him another chance and not just, oh, this is just another part of the deep state and he’s controlled opposition.

I don’t want, I don’t want to go into that mindset. I want hope, okay? And maybe I’m wrong about it, but I don’t want to live like as if every little hope in my life or every little hope in my political life or whatever you want to call it is, is really controlled opposition. It’s all just, you know, it’s all just a play. I’m not going to think like that, all right? I just, I refuse to. And you could call that a weakness, you call that a strength, whatever side you might be on. So the, the way that I forgive him is that I hope that his loss in 2020, whether it was manipulated or not, was a punishment for what he did to us or didn’t fight for us well enough.

Right. For his, his, his Covid crimes. And now that he, now that he’s redeemed himself and he almost was assassinated twice and he seems like a much more focused man. Hopefully he can pull through now. I pray for him. I really do. I pray for the man. And one quote, one quote that I, that I heard, I think I told you this when we were chatting when it was, it’s a, it’s a hilarious, very accurate quote somebody said to me in synagogue, in shul, it’s like somebody said Trump turned out to be just as important as he always thought he always was.

It’s, it’s, it’s just amazing. And I wanted to share this with you. My, my, my, my wife was looking at, at statistics of red haired presidents or orange hair gingy presidents. Right. So who did she find? They’re, they’re Actually, the best, the best presidents. Right, right. It’s Thomas Jefferson, red hair. George Washington had a red tinge when he was younger. Martin Van Buren, who is actually Murray Rothbard’s favorite U.S. president because he didn’t do anything. Andrew Jackson, who destroyed the central bank. John F. Kennedy had a red tinge. He was probably the best Democratic president we had, aside from Andrew Jackson and, and Trump.

I mean, these are the, these are the people that you want. I’m not saying it means anything, but it’s a, you know, God puts in these hints here and there and, and you know, Asav, who is, you know, Jacob’s brother, who’s represented by America and Jewish thought, he’s his best when he’s, when he’s fully red. You know, he’s described as a red haired man and he’s not entirely bad. So I, I hope that Trump fulfills his, his, his role here, whatever it might be. I do as well. Now, I do want to caution. There’s a lot of people, especially on the liberty side, who are thinking, oh, good times are here, Trump’s gonna be president and good times are here again that yet the end game is still, it’s on its inevitable march towards us in a accelerating pace.

And you know, I was, I was, I have some liberty minded, I have a lot of liberty minded friends who are not, you know, Austrian school economists. And so they’re really into like things like crypto. And I was, you know, I push really hard, you know, I make the logical arguments, I sit down with them, I talk to them. Like some people, I convince some people, I don’t. I had a couple people on the fence, you know, they said, oh, you know, I got some Ethereum and I got some crypto. I’m like, look, you gotta, you gotta get out of those and get into metals.

And I was making the argument and I was, you know, saying, look how metal’s going up and stuff. And then, you know, I wouldn’t, I wouldn’t even say, I wouldn’t even try to get them out of their crypto. Just tell them you can keep the crypto. Keep it. Yeah, I mean there’s, there’s a, there’s a chance we could be wrong. I mean it, I don’t know, I don’t know how, I can’t describe how we were wrong. Maybe we are, because we don’t know everything. Maybe we’re wrong about something. But you don’t have to, you don’t have to tell them to get out of crypto.

Just like have Some gold and silver. That’s all. So I, you know, so, so Trump wins and then, you know, bitcoin and stocks go absolutely ballistic and then gold and silver sell off. And I’m like, oh, my God. Whatever chance, whatever progress I was making is done. Like, I’m, they’re, they’re not interested now because Ethereum, I think, you know, ethereum went up 10, 15, 20% or something. So did bitcoin, so did all the stocks. And I was, everyone’s just like, oh, good times, you’re here again. What they missed was the sell off in the bond market, which is just terr.

I mean, that was just terrifying. It’s like the Titanic is making contact with the iceberg and everyone’s on the deck just, you know, you know, just, you know, blowing the, blowing the paper snakes and drinking champagne. Yeah, it’s just terrifying. And you just, you’re just not. I mean, people are just going to wait until the ice water is at their ankles before they start panicking. And it just, it blows my mind. Like how, how many crashes do, does history need before people, like, pay attention to what has happened in the past? Yeah. But anyway, so my, my warning, and I’m making, I’m making a video on my next video is going to be on this Sunday in the election.

My warning is Trump will be the end game president. I think the reason we had a Great Depression is not because of the financial panic in 1929. It’s because of Roosevelt’s reaction to the financial panic. You know, government taking over everything, confiscating all the gold, not letting the market recalibrate itself is what caused the Great Depression and the starvation stuff. This, this, even though it’s a, even though it’s a gigantic, excuse me, financial panic, it doesn’t have to be anything more than a big financial panic. That’s. You just say, oh, I’m suddenly broke, I need to go find a job.

Somebody has gold, they’ll say, okay, this person has a sewing machine they need and we can’t buy pants anymore. This person has a sewing machine, they can start making pants. I’m going to up, I’m going to loan them some money so they can upgrade their sewing machine to start making pants. They’re going to make, they’re going to buy a second sewing machine, hire the unemployed person, and we’re going to get this going again. You, if you stop that and then we have pants, then we have pants again and everyone’s fine. Everyone’s good for pants. Pants, like shorts, but longer.

If you interrupt and Trump is a very free market guy, which I like in many ways, and he’s saying all the right things. We’ll see what happens in the cry because I’m gonna, we can get into this in a minute. The crisis is gonna hit and then, you know, people are going to start trying to persuade him other ways. But if he sticks to the free market, you know, you just, you just have the nasty crash and then you start rebuilding and people prosper again and you get to a level of prosperity, you know, you were at way higher than before when they, when the Fed was bleaching and sucking the life out of, out of the economy.

You end up with true prosperity, trading honest money. It’s gonna be great. You know what makes me even more excited? More just, I guess the fantasy that I have that excites me even more than what Trump could possibly do in the, in the few months that he has before the end game hits, which for me is, is, is burned the hell out of the pharma industrial complex. They’re, they’re like, they’re, they’re at the, the most visible, corrupt, disgusting pinnacle of this evil. From all I can see. These guys, like all these guys are filled with murderous rage.

I mean, I mean to look at Trump’s videos, I mean what he’s saying right now, he is clearly a man on a, on a real mission. Yes, but he’s still in control of himself. He’s not shooting wildly, you can see. No, he’s not even focused rage. He’s, he’s acting a lot more calm than I, then I’m used to seeing him. If I was Bill Gates, I’d be more terrified of that than, than wild, wild yelling Trump. So what? Yeah, you know, RFK Elon. I mean all these people are, are great. They’re, they’re really well set to, to, to move him in a liberty minded direction.

So, and to dismantle and to dismantle and more importantly to punish the tyrants who have abused us these past few years. So, so my, I had a, I was thinking about the Comax. We had a conversation last month and I was thinking about the comex and what’s going on there. And I was thinking about the Hunt brothers and I said, and I was thinking what, what did the Hunt brothers do? What were they essentially doing? They were attempting to redeem the silver. And how do you attack when somebody’s, when somebody’s print, like in, like in our example, you just put up when somebody’s printing more notes and they don’t actually have the metal underneath it.

How do you attack that? You say you redeem. You say, here are my notes. No, I don’t want more interest rates. I want the actual metal itself. I want the money. And if they give it to you and you walk away, and they walk away and everything’s fine, then you say, okay, well, they’re trustworthy. They’re fine. Then you can have it back. Yeah, you can come back and invest again. If they won’t give it to you, then that means they don’t have it. So the Hunt Brothers were attacking that. And people are saying, oh, they were speculating.

They were. Whatever. They were greedy. They were manipulating. No, they were. They were just attacking what they saw was a positive. Trying to clear house. Yes, they were trying to clear the house and force. And what their plan was, we’ll redeem it all. They give us, you know, they only have 10 of what they said they had. So they give us that 10%, they fail the rest, and then, you know, silver skyrockets, and we’re the only people that have any silver, and we make our fortunes. And the government. The government intervened because they’re like, you’re going to crash.

You’re going to crash our Ponzi scheme here, buddy. So you can’t. You know, they. They disallowed redemption, and they prevented the Hunt Brothers from buying. I think they said they could only sell. They could only. They had to sell, and basically, they had to sell whatever shares they had for just a mere pittance of what. Of what they bought it for, and it ruined the Hunt Brothers and kept the. The government Ponzi scheme going. So hold that thought. I got this bathroom real quick. We’re gonna edit this part. I have a perfect meme. So one of the things the Hunt Brothers episode aftermath was the COMEX severely limited who could.

Which they made. They made this giant bureaucratic process of making it almost impossible for normal people to get access to the physical delivery of the metal, which I have personal experience. Yeah, yeah, you have personal. And that wall is there on purpose. It’s like it’s there to make to, you know, limit who can get it. You can participate in the comex, but you cannot actually demand physical redemption. And the people. You can. You have, like, two, three million dollars in capital. Yeah, okay. They’re. They’re limiting it to the mucky mucks. And they’re basically limited to the, you know, a cartel of banks.

There’s a cartel of banks participating in this. They’re the main. They’re the main drivers, and they’re limiting it because, you know, the Hunt brothers couldn’t. They had, they had a couple million dollars. They couldn’t get it out either. But they, and they, they limit how much can be withdrawn at a time. And that prevents, that prevents a run on the comex. They’re trying to prevent the run. You can’t just show up with tons of met, tons of notes and say, you know, I want, I want these. I want the metal. You can do a little bit that keeps the.

That makes it look healthy. And it’s like a, you know, fraction reserve. It’s fractional banking of any other sort. Right. And. Oh, wait, on that note, I think just hold that for a second. Okay. Is it. Is it Craig Hemke or. It could be Craig Hempke. If somebody works with Sprott, he points out that a lot of the deliveries are just one big bank, one bullying bank to another bullion bank. They’re just exchanging warrants back and forth every month. Yeah. Whether. Whether this is like cahoots or one is trying to, like, squeeze more dollars out of the other one.

Could be both. I mean, I don’t know. But most of the deliveries are just bullion bank to bullion bank house accounts. Yeah. I believe it’s a cartel. And I’ll go into what I think is happening. So once they limited the ability of the public in general to attack the pile of silver or gold in the comex, that opened up the ability to print a lot more notes than currently exist for the metals that currently exist. Right. And so what I think is happening is they short. You know, everyone says, oh, the bullion banks are shorting. And, you know, they’re, you know, the, the slam hap.

What is slam hammer? Mr. Slammy? I’ve heard people call all kinds of things, you know, the price slams down. What I, what I think the game is that they play is they take a massive short position. The bully banks take a massive short position, and then they, they print a bunch of futures contracts. And the. If you go Back to Econ 101, right. What are, what are the ways the price can go down of a good? It can be a decrease in demand or an increase in supply. Either of those two will cause the price of a good to go down.

They don’t really have a lot of control over the demand for gold, but the bullion banks can create a lot of gold in quotes by printing a bunch of futures contracts. That increases the notional future. The amount of notional gold in the Future. And so with an increase in supply that shifts it. Right. Because people say, oh, there’s a lot more gold than I thought there was. I guess, you know, I guess it’s not, you know, the marginal value of gold is going to be a lot less than I thought it was. So that, that lowers the price.

And then, you know, they cash in the short and then they pay off the futures contract either with the profits of the short or what I think they are doing. I think they’re doing this win or lose, but they might just be doing it when they lose. The bet is you, because you printed that future contract. You owe a certain amount of gold to the person holding a future contract when it matures. What you can do if you are unscrupulous is sell another few, make another futures contract, sell it on the open market and then use those proceeds to pay off.

Yeah, that’s, that’s what a Ponzi scheme is. You use the new money to pay I’m old interest. Yeah, exactly right. And what I think they’re doing is, I think, I think they’re doing this every time. And because there’s a fundamental law of economics which is money today is worth more than money tomorrow. So they always must sell more futures contracts than they have to pay off the current redemption. So it must grow exponentially. And your graph that you’ve shown, you can put it here right now, shows an exponential growth in the amount of futures contracts being generated.

Okay, so, so what you’re saying, so there’s two things I have one I think would support what you’re saying. The other, I need to hear your explanation. So you’re saying that they have to, just like a Ponzi scheme has to find new investors to pay off the old ones constantly. It just keeps getting bigger and bigger. Right. Because if you need more new investors to pay off the fewer older investors, then you need even more newer, newer investors to pay off the middle level layer. And then it just keeps going. So if they need, if on bets that they lose, you’re saying they need to sell more futures contracts now to pay off the bets that they lose.

And then they’re going to have to pay off those futures contracts that they sell with even newer futures contracts. So you’re saying that we’re talking about a trending higher open interest in open silver, open gold or silver contracts. It’s not happening in silver as far as I know. I could be wrong and then I’ll check the graph, but it’s definitely, it is happening in gold. There is a generally trending higher open interest and gold futures contracts since let’s say 1970, 1982. After the bubble. Right after the hundreds. So how do you explain the fact that in 2020 open interest was about 800,000 contracts and it was real, it was, it was going from about like, like maybe 400 to 800,000 in about a year I think in 2019, 2020.

And there was like this huge peak and then it just crashed in 2020 and it’s still trending higher again. But how do you explain the short term crashes and open interest give. If, if, if your theory is, is holds water. If, if they won the bet, they can use the profits from the bet to pay off most of the open interest. Okay. So they don’t have to generate more futures contracts. You’re saying periodically they win. Yeah, periodically they lower, they, they, they get rid of some of their, their cards. Right. They can’t get rid of all of them.

They can’t. They. You can’t. Yeah, you’ll, you’ll. It looks, it’s so, you know, Ponzi are so tempting, especially in the early days. You’re like, oh, it’s free money and I’ll just pay, I’ll pay it back next time. You know, it’s very, very tempting. But once you start it. Yeah, you can’t, you’ll never, you’ll never get to the leprechaun at the end of the rainbow. Okay, so this, this is, this is, this might be getting at a point. I’m not sure if you can answer this, but I want, I, but I do want you to look into it.

Because of the monetary minds, you’re, you know, the top of what I respect. Well, thank you. So I’m, I’ve never fully understood why was it that just prior to the whole COVID lockdowns and the end of the world as we know it, why was it that in 2019 and early 2020, open interest in gold was heading to like 800,000 contracts? What the hell was causing all of that open interest? Yeah, I, I don’t know. I mean, I, you know, I don’t know. Yeah, I didn’t think you’d be able to answer it, but I think I’d have to look into it.

I mean, it might be related. It might be related to, to your theory here. I can’t really get, I can’t really dig deeper than that, but I think you’re on to something and I think it’s related is what I’m saying. Yeah, maybe yeah. Maybe they were betting like maybe if that had. If they had. If gold price had spiked when all that open interest had opened, like maybe we would have already hit some sort of massive crash in crisis. I don’t know. Maybe they won the bet because you have this really strange thing going on. This was before COVID right? It was as it was starting, but before the lockdowns.

Right, Right. Open interest was heading like basically vertical into 800,000 contracts. And right now it’s like 550,000, but 800,000 all time high. It was like a parabolic top. It was just. What did it coincided with the apocalypse then? No, no, no. It continued after that. I think it was after the apocalypse. After the. After the apocalypse, open interest in gold particularly just kept going higher and higher and higher and higher until that day or that week. Those two weeks in March 2020 when the lockdowns happened. And then gold and then everything crashed and down from like 1800 something to 1450.

Right. And that’s when the. That’s when the gold miners went to like all time lows and. And all the gold bugs were totally freaking out and. And gold relatives to come out of these went to an all time high. It was that time. That’s weird. So gold got to be some relationship between the. The all time high open interest and what was going on. I just can’t figure out how it was. Yeah, I don’t know. That’s. And it’s coincidence. That coincides with the COVID printing too. Yeah, it does. Yeah. That’s wild. I. I have nothing off the top of my head.

I’d have to look into it. I mean it. It might be related to what I’m thinking is happening. Okay. So I mean I just. I just started. If you can research this and figure something out. Even like. Even like the skeleton of a theory here. Yeah. It’s been bugging me for years and I can’t figure it out. So anyway, back to this real quick. So what I think if. If all that I said is true, it turns out it’s true. And I could. I. I always. You know, I reserve the right to be wrong and you know.

You know, don’t. Don’t kill me. If it turns out I am wrong and all these guys were very honest businessmen and. No, but there were no tricks in the comex. Get out of here, Phil. When the end game starts hitting, there will be all these banks. They’re. They’re. Because they’re in a cartel. They are all generating. They’re all getting juice out of the dollars. And there. There has to be a. There has to be a pie, like your hotdaughter.com thing. There must be a pile of gold in the center of the table so that they can write the notes off of it.

You have to have something there to be able to write the increasing exponential notes and say, no, no, no, just leave the gold here. I’ll give you more notes and more interest. So the. Because they can still get juice out of the system, they’re. They are all content to leave the gold there. Once the end game hits and they can’t squeeze juice out of the dollars, there’s no more juice to be had. This. The. The lemon’s dry. They’re all gonna kind of grab for the gold at the same time. And they’re, you know, whoever gets. I’m assuming it could be JP Morgan, someone’s gonna grab it, yank it off the table, and the COMEX is going to shutter.

It’s gonna be like Nickelmageddon, but with gold. And the comics is going to shutter. They’re just going to say, well, halt all trades. We sorry, guys. There are way too many notes. We made a mistake. Something’s wrong. There’s way too many notes. We don’t have any gold to redeem it, and JP Morgan just ran off with what gold we did have, so we’re shutting down. If this happens late in the end game, it doesn’t really matter if it happens early. Let’s say it happens tomorrow. Spot price will go in a. Because the COMEX is used to help determine spot.

Right. So if part of the calculation that determines spot shuts down when you go, when you log on to whatever website, you say, what’s the spot price of gold today? It’s going to say not available. You’re going to mean. You’re going to say what, that. What do you mean, not available? Every physical dealer in the world is going to halt trading on gold. They’re going to say, I don’t. I don’t know what the dollar price. There is no dollar. The link between the two has been severed. I don’t know what the current price, the current dollar price of gold is, so I can’t sell it.

The only way you would be able to get gold out of a merchant at that time would be to say, look, when it comes back on, it’s going to be something like $10,000. So I’ll give you $15,000 to cover it. And he might even say, no then. Right? You’re going to have to Offer. You’re going to have to offer dollars to cover the worst possible case scenario that’s going on in that guy’s head right now. And it’s not going to be a good, you know, it’s not gonna. It’s not gonna be a generous offer. He’s going to want a lot of dollars just to cover whatever the worst case scenario is in his mind.

And when the COMEX does come back on, remember, the notes for gold have been increasing the, the supply of gold for, you know, 500 times or something. When 499 of those 500 notes blow away in the wind, the supply of gold crashes back to what the real. The real supply of the physical gold is. And there will be zeros being added to the spot price of gold when it ever. Whenever it comes back online, the comex, you know, says, okay, okay, okay, throw those away. This is how much gold we have left. Whatever little bit it is.

This is what the. Our new spot price of gold is. And there will be many zeros added to that. Okay. So, Phil, I got, I got the chart here. It says we’re at 3.097 owners per ounce. Okay. The thing is, interestingly, in 2020, it reached a hot. Let me go to the long term chart here. Gold charts R Us. We have owners per ounce. Right. You see here the black. Yeah. So we hit a high. Looks like. I’m looking here. It looks like it’s like 43, 44 owners per ounce of gold, meaning the amount of people that have futures contracts relative to the amount of gold that actually exists in the comex.

Right. So we’re actually at near, near near lows here. We’re only at 3.097. And historically it’s, it’s. It’s pretty low. Oh. So there’s only. There’s only 3 ounces of gold for every real gold paper. There’s only. There’s only one ounce of gold for every three contract for every three ounces of notional. Oh, that changes my. That changes my theory quite a bit then. I thought there was a lot more notion. People were saying there was way more notional gold than there was physical gold. So it’s about, it’s about. There’s 33 coverage. Yeah. Okay. I mean, that’s still triples.

That would still triple the price of gold. If you go here. Let’s go back to the five year. Five year chart. Yeah. You see here what happened in 2020. We were at about eight or nine maybe in 2020. And then all of a Sudden all this gold like flowed into America from everywhere and we got down to two and now we’re at three. So if you, if you’re right, the price of gold still has to triple. Right. But what I think is going to happen is as we head closer and closer to the end game, people are going to get more and more banks are getting more and more interested in gold futures contracts and open interest is going to go higher and higher and higher as the bullion banks that store the gold are going to sell more and more contracts to try to keep the price down.

And so if, if the number of, if open interest has been growing exponentially as you said for gold. Dan, has physical gold been also growing exponentially in the COMEX? No, it didn’t until 2020 when suddenly it just like poured in. Okay, so a bunch of physical gold went into the COMEX at that time in 20. Yeah. And an incredible amount. Incredible amount, yeah, about 30 million. Here’s a question. Do we, when they say the physical gold went in, do we know for a fact that the physical gold went in or did they just say the physical gold? What do we know for a fact? You’re getting me into a Cartesian okay here.

I don’t know. All right, so there may be, if my theory, if my theory is correct, I was expecting much more notional gold than actual physical gold. I mean, a lot more. So if the physical gold is actually there and it’s only three to one, then I’m probably wrong. But you know, look, I, I don’t think you are, because it’s not just that. It’s every other commodity where the, the notional amount of commodity on the futures contract doesn’t exist either. Yeah, I know. They, I don’t remember. They, they, they started redeeming the nickel and then a bunch of nickel turned out to be bags of rocks in the comex.

So yeah, that could happen with gold too. That could definitely happen with gold. It could, it could easily happen with tungsten. Like there could be a lot of gold in comex that’s actually like gold plated tungsten. Gold plated tungsten, yeah. So that, that could absolutely be the truth. So assuming I’m right, which I again just theory take it for what it’s worth, when the COMEX crashes, that, that should, it would, if it crashes early, that will be a, definitely be a catalyst for the end game. If the end game’s already going and like people are already trying to, you know, if people are already wallpapering their, their house with dollar Bills and the comex breaks.

It’s not going to affect too much, but if it happens early, that would be a catalyst, I would definitely say. Yeah, well, we will see what happens. Do some. Do some investigation as to what into what happened in 2020. I’d like to hear your take on it because it’s. It’s wild what happened there. And I, I’ve. I’ve. I’ve looked into it and I’ve talked. I’ve looked into spreads and contango and backward Asian during 2020. What the hell is going on? I can’t figure it out. But something. Something very big happened in 2020 with the gold supply and with open interest was connected to it.

And I don’t know what it was. Yeah, well, I’ll have to think about it. I will. Okay. You will think about it, though. My initial reaction is that because the dollar is a note for gold, to keep the spot price of gold from exploding higher as people rush to. During the COVID print, the dollar went vertical. So to keep the. To keep people from dumping their currency and rushing off to get gold right away, they had to increase the supply of gold on the comex. So now what you’re so. But that, that was before the lockdowns.

In the months before the lockdowns, we were going into a high of 800,000 contracts. And then as the lockdowns happened, the open interest just like plummeted from 800,000 to like 400,000 in a few weeks. Really? So the gold drained out? Yeah. No, no. The. The gold flowed in. What happened was physical gold. Assuming it’s real. Okay. Physical gold flowed into New York from Switzerland, I think, And. And open injuries at the same time. Collapsed in by about 50% in like two, three weeks. I will investigate this. Let me think about this one. You’re right. That is a mystery.

That is. I’m looking. I’m looking forward to your video on this. I’ll give you all the resources you need. Okay, I’ll dig in. All right. All right. Do we want to cover the third topic or is this enough? This is enough. I gotta. I gotta get moving with dinner. All right. All right, cool. Ravi. God bless Trump, God bless America. And hoping for. For less totalitarian times ahead. Very hopeful and scared. Yeah, leave it on that one. I’m the same. I have nothing to add on that. Yeah. All right. Have a good week.
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