➡ The article discusses the gold and bitcoin markets. Officially, China has the sixth largest amount of gold, but unofficially, it’s believed to have more than the US. The price of gold has increased significantly compared to the S&P 500 and NASDAQ since 2000. The article also discusses the volatility of bitcoin, with some believing it’s related to the de-dollarization and central bank gold buying. The number of individuals owning at least one bitcoin is decreasing, suggesting that institutions are buying more. The article suggests that this could be a strategy to control the supply and drive up the price.

➡ The speaker discusses the volatility of Bitcoin and the risks of investing in it, emphasizing that it requires good market timing, which most people lack. He mentions his strategy of dollar-cost averaging and his commitment to hold Bitcoin even if its value drops to zero. He also talks about the potential changes in the economy and the increasing demand for physical assets like gold and silver, which he believes are more reliable investments. He warns against trusting digital tokens and ETFs, and stresses the importance of owning physical assets.

➡ The demand for physical silver is increasing, driving up its price. This is due to factors like large purchases and a shortage in physical supply. Despite the rising prices, it’s still possible to sell silver, but the process is becoming more complex due to rapidly changing prices and delayed payments from wholesalers. The current situation is not a result of market manipulation, but rather a culmination of years of market dynamics and increased use of silver in various industries.

➡ The discussion revolves around the value of investing in physical metals like silver and gold, especially in the long term. The speaker mentions the success of their initiative, Wolf Pack, which allows for savings on purchases of 90% US silver. They emphasize the importance of having a trusted dealer for transactions and predict that despite potential market fluctuations, silver and gold will always maintain liquidity. The speaker also mentions the possibility of institutions pushing a supply squeeze before individuals do, and the potential for using metals as a form of currency.

➡ Wise Wolf Gold and Silver, along with DavidKnight Gold, offer great deals on gold and silver. Despite the decrease in prices due to the Trump mania last year, these precious metals are expected to gain value in the coming year. This is a good time to buy gold and silver with your money, especially with the guidance of Tony Arderburn from Wise Wolf.

Tony, how you doing? Good to have you on. It’s good to see you, David. I was just going to talk about how private payrolls, you know, they always look at jobs created and the thing that is dominating this now is the government, because the government just keeps hiring more people regardless of anything. But private payrolls are contracting. And it’s especially small businesses because again, when they look at this, they understand a lot of this is the tariff stuff. But when we look at the forecast coming in the next year, as I was saying, silver is really the story right now, and you’ve mentioned many times, and we all remember when the Hunt brothers tried to corner the silver market.

This is the fastest that silver has gone up since that happened. But this time it’s not based on manipulation. It’s actually lagging reality that’s there. You know, there’s been this deficit, as you’ve pointed out many times, a deficit of silver being used for industrial purposes as well as for things like jewelry, but especially industrial purposes. They’ve been using more silver than they’ve been mining for many years now. And so there’s this huge deficit that is there. And, and then the thing that seemed to kick it into high gear, two things this year, I guess, was what happened in India where they realized that it was undervalued.

And so as part of this religious holiday where they go out and accumulate usually gold, this time they went out and got silver and created a big deficit with that. But there was also a disruption when people thought that Trump’s tariffs were going to be applied to silver. So there was a huge amount of silver that transferred into the US to try to preempt that tariff charge. And then a huge outflow from London in the other direction into India. And they wound up with not having much physical stuff to be able to supply people. So it is really changing now.

And what’s your take on it? What are you seeing there? At Wise Wolf, you’re right. The tipping point was the black swan event of the, the unknown of the Trump tariffs when he took office. And if you recall, it’s not that long ago. That’s right. You and I had that interview right before the election of 2024. And we’re talking about what happens if there’s a Harris win, what happens if Trump win. You want to do the scenarios. Remember, there was the big crypto boom, you know, after the election of Trump, and gold and silver went on sale.

You had that had that cartoon gold and silver on sale at the end of the year. And, and they Were, and you and I knew, I think instinctually that this is temporary because when the uncertain, all the uncertainties hit the market, the fear of the uncertainty, the doubt, and then you threw in the tariffs that started this cascading event. You can, you can couple that with countries like Russia putting silver on their balance sheet as a strategic reserve asset. I thought that was huge. And it was, it didn’t get a lot of coverage or play, but the same thing, you know, the, the word rupee for the Indian currency comes from rupiah, which means silver.

So they have a long history of seeing silver as money. This has always been an underlying issue. The Hunt family got people to go out and buy physical silver along with themselves and they drove the price up until they were, until they were bankrupted by the deep state, in my opinion, and the powers that be for showing the weakness in the dollar, that 45 years of a lull and the difference now. And you’re absolutely right, David, it’s not coming from people here, especially in the west. People like the, the average citizen is not going out like they were in the 1970s and buying silver and you know, driving that, the scarcity up.

I’m seeing massive amounts of silver flow through, you know, shops like mine. A lot of places can’t even buy anymore because the price has risen so high and the liquidity is dried up. However, the demand continues. But David, the demand is going to institutions. There are some, you know, there’s some smart people right now that are just, you know, dollar cost averaging or they’re realizing that this is not, this isn’t like a market or a bull market that we’ve seen before. This isn’t the top of the market. We’re in price discovery at this point because we have 45 years of manipulation based off of paper that didn’t again, it’s always been called out.

This doesn’t exist. You know, there’s 250 ounces traded on paper for every one ounce that exists in a vault in theory. And now we’re starting to see all of this stuff and it’s, it’s not just one thing, but it’s multiple things. The, the big takeaway from all this, as somebody on the ground, I mean we go to before Thanksgiving holiday, you know, just under $50. And then I, I come back that Monday through the weekend and we’re almost, we almost break $60 an ounce. Yeah, yeah. It’s massive move. It’s because the physical demand in this, in this era of history that we’re in because of the lack of trust.

Because, you know, the institutions in this fourth turning are starting to, you know, the, the trust diminishes, the need for physical rises. And that’s all across the board, everywhere. Not just gold, but now silver. And now we’re in price discovery. I don’t know where this ends up, but it’s. Again, the demand is coming from institutional, multinational, and again, places like India where it’s culturally sought after. Yeah, yeah, I like this headline from Jim Quinn. Got gold, got milk campaign. That’s a T shirt. You should have got gold. And he’s talking about. You’re talking about, is there any gold backing up this paper anywhere? You know, we began the year by this innuendo.

Oh, we’re going to go audit Fort Knox and everything. Notice how that died. Did somebody whisper in Trump’s ear that there’s not really anything there? We don’t have anywhere near as much as you think we do. And at the same time that’s happening, what he’s writing about is something that you’ve been talking about for quite some time, and that is that China has been concealing the amount of gold they have. They have a lot more gold than they’re actually letting onto. So I think we have much less than we pretend that we have. China has much less than they’re telling everybody that they’ve got.

That’s kind of the way I see this thing breaking out. What do you think? Absolutely. Issue with China. You have to unpack that logic. Why did they, after George W. Bush gave them most favored trading nation status on December 11, 2001, we know what happened afterwards. Even that was the. That was the final blow to the American heartland manufacturing. We lost one in three manufacturing jobs in about 55,000 factories. Those metrics are all there for you to go back and look at through history. But what China did is they started secretly buying. They were buying off the books.

They didn’t want to raise a lot of alarms because back then, the beginning of the century, you and I both know what gold was at $300 an ounce. They were just accumulating. Michael Saylor’s talked a lot about this on the bitcoin side. He’s like the first nation that actually turns their printing press on and starts using fiat currency to buy. Bitcoin is going to win. And that’s in the bitcoin game theory of nation state buying of bitcoin. But that really is what happened with gold and China. They started using their currency and they started using the trade deficits that we were giving them this massive transfer of wealth, you know, the trillions and trillions of dollars.

They started stacking up gold. And let’s not forget China is a net importer of gold. A lot of times when exploration happens in China and there’s new mines that are found, they nationalize them. Kiyosaki who wrote rich dad, poor dad found that out. He had a, he found a major, you know, gold vein and had investors and everything. And then when he went to renew the lease, the Chinese government took the lease. They have 60, 000 gold mines estimated and I don’t know how much gold they have. We supposedly have about 8, 500 tons in the u.

S. That’s like, you know, about half of that’s supposed to be at Fort now because I don’t, I don’t know if it’s there or not. But that’s about what we’re supposed to have. They, they are probably on parity or have more gold than us. According to several journalists and people that I followed through kitco. Yeah, so it’s a question mark. But they’ve been buying secretly, Dave, and that’s a strategic move in this century I think. And knowing what, because they plan for the long term. So knowing what happens to the dollar is, you know, in those simulations and now we’re seeing, you know, de dollarization rapidly.

Well, that’s what they did with rare earths. I mean they, they did that quietly and you know, cornered the market really on rare earths by buying an American company that had cornered the market. But yeah, the figures that you’re talking about here in this article from Jim Quinn, he says officially China has the sixth largest amount of gold at 2,280 tons and the US supposedly has 8,133. Unofficially, China’s reserves are at least 5,000 tons and some estimates put it at higher than what the US has at 8,000 tons. So you know, they’re only declaring anywhere from a half to a quarter of the gold that they have out there, which is kind of interesting.

But you know, when you look at what is happening with silver, it is skyrocketing. And even if you just look at gold in this article he points out the price of gold. If you look at what has happened with gold versus what has happened with the S&P 500 and NASDAQ since 2000, since January 2000. So over 25 year period, NASDAQ’s gone up 5.7%, the S&P 500 has gone up 4.7%. And gold has gone up 14.7%. So it’s gone up about three times as much as the other two, which are around five, you know, by a factor of five, I should say.

So it is pretty amazing. And then when you look at crypto, we’re seeing so much stuff about is crypto going to collapse now and so forth. We’ve got the CEO of BlackRock, Rat Fink is out there saying that, he’s now saying that bitcoin is a fear trade. And so he’s kind of walking some of this stuff back. What do you think is going to happen with that, with bitcoin? Well, I think bitcoin is still related to where we are on de dollarization and central bank gold buying, believe it or not. I mean it is. There is a correlation here.

And I think that Larry Fink, if you go back and look at his statements, especially to the World Economic Forum in Davos and saying the bitcoin is going to go to 700,000 BlackRock taking the first Bitcoin ETF. Yeah, I do think that there is a, a shakeout right now. I think that’s happening with, and I’ve talked about this with Travis. I think this is happening with gold, silver and bitcoin. The price metrics are different with, you know, the, the silver issue is institutions are hungry, they’re buying it. There’s a limited amount of supply so it’s driving the price up.

Same thing with, with gold. The physical demand for gold’s driving the price up because as institutions are buying, that’s in a real time price metric. However, with bitcoin it’s a little different because you had a, you had an all time high in October, about127,000. A lot of the old wallets started to liquidate and sell off. And I, and there was some trigger point there where it drove, you know, bitcoin back into the, into the low 80s. And I think we’re above 90 right now. That’s funny. We talk about, we hear the phrase old money. You know, you’re talking about old wallets.

Old wallet. Yeah, old wallets. The, the old holders, the Hodlers, they sold, there was a big chunk of them that sold off and wallets that hadn’t been active in a very long time. And I think because we’re in an accumulation phase again, the, the amount of individuals who hold just one bitcoin around the world is about 850,000 and that’s shrinking. So there’s, in this moment in time, there’s going to be less people in the future that can hold at least one bitcoin because institutions are, are buying that up. I think the price will reset again on bitcoin, probably sometime after the first of the year by design.

And I think they’re going to use Bitcoin. It’s related, David. It’s related to the, to the stablecoin system as an off ramp for a store of value in the digitized fear. But that’s all theory. And, and right now, I mean, there’s all, that’s all price theory. But you’re, you’re right. I mean, this, it’s the, the market. Trump’s been great for gold because of the uncertainty. Yeah. If, if markets were more certain right now, if there hadn’t been the, we go reverse engineer this. If there hadn’t been the black swan event of the tariff threat, if you don’t have that cascading event, then you don’t see these prices in metals.

It takes a lot longer to get there. I knew we would eventually get there, but right now it’s just price discovery because of the unknown. So none of this is about a healthy place that’s not in a healthy economy. We’re not in, there’s, there’s too much unknown. Especially those numbers in small business are about tariffs. They’re about lack of supply, lack of liquidity. And, and we look at volatility in the markets and everything. Why wouldn’t there be volatility? Look at what he’s doing to global trade. Whatever the system is that you want, you need to have a plan on how to get there and it needs to be done orderly.

It’s kind of like the Afghan pullout that they decide they’re going to stay there forever and then they can’t do it. So then they have to have a panicked pullout. Well, that’s what’s happening with Trump and his tariffs. He’s got a plan that’s not tenable and he’s constantly adjusting it and it’s wreaking havoc on everybody. But, you know, going back to the bitcoin thing, the plan from the very beginning, and I’ve talked to Adrian today and a lot, a lot of people talking about said, yeah, bitcoin’s been hijacked. It was meant as a currency exchange and that’s why, you know, people used it to buy pizza.

But then it got hijacked and became a tradable gamble asset. And that’s when people like Larry Fink got in just a few years ago. He Reminded people that he was saying that it was the cryptocurrencies were all about illicit activities that, you know, as if using cash or even a bank like HSBC had nothing to do with the drug trade. Right? I mean HSBC was a money launderer for the Sinaloa cartel and many terrorist organisms. And they got caught doing that and fined for doing that many times. But they put it all on bitcoin. And so he said he didn’t think that it was going to be that big because it was simply about illicit money laundering and things like that.

But he says my thought process has always evolved. You and I have talked about it. Especially you have talked about the fact that, that why would you set up an ETF for Bitcoin? Right. Bitcoin is already a digital token, a digital asset. And it is infinitely subdivisible and tradable, just like an etf. You know, when they tokenize a real asset, that’s the argument that they make. We’re going to be able to subdivide it infinitely and immediately transfer it and it’s going to be without any national borders or anything. Well, bitcoin is already there, so why do that? And it was clearly, I thought a pump and dump scheme.

And I think everything that rat fink at blackrock is doing is really a pump and dump. So now he’s out there calling it the asset of fear. What do you read into that now? Is it time for him to take his profits and move on? In my opinion, it’s not that time yet. But you’re right about this, is this is about the accumulation and cornering the supply of bitcoin is again, there’s less and less individuals own at least one bitcoin. If you look at the population of the earth, that’s a small amount of people less than what is it, there’s more millionaires on earth and own at least twelve hundred dollars in bitcoin.

So what drives the price there again is institutions. And they, they did, they, they hijacked it in a way, especially with the ETFs, with the amount of investment that they hold and they manage for, for boomers that are not going to go by, most of them aren’t going to have their own wallet. They’re not going to be sovereign, not going to store it and have cold storage or their own keys. They’re gonna, they might want to dabble in it. So they get in through one of these products and it allows BlackRock and other big companies to control that supply.

And it’s going to create scarcity, you know, the price. And I think the individuals out there just, you know, looking into bitcoin is less and less, but institutions grow more and more. It’s, it’s the same thing. It really is on the same timeline as what’s going on with gold and silver. But because of the supply issue with bitcoin, the way it’s different and the way it’s digitized, it’s not really driving the price yet. I think the, I think it’s all about taking finite assets in a fiat world away from individuals and on the lower economic strata or the mid economic strata and putting it into the hands of the giant players.

That’s my opinion. I think that’s going on. Gold, silver, bitcoin, across the board right now. Yeah, I agree. Yeah, of course, you know, it’s the hijacking and making it into an asset rather than a currency to trade. And then the second step I think was this ETF thing that’s out there. But he had an interesting quote. He said, if you bought bitcoin for a trade, it is a very volatile asset. And that’s why I’ve said many times I’m too old to ride roller coasters. I’m too old for bitcoin. But he says you’re going to have to be really good market timing, which most people aren’t.

And somebody like Rat Fink doesn’t have to time the market. He can make the market, he can manipulate the market. You know, so you always, he’s like the, if this is a casino, he’s like the house that’s there. And most of the time people run casinos don’t go bankrupt like Donald Trump. They know what they’re doing. So you got to be careful with that type of thing. I think it doesn’t make you a genius to, to be an insider and be able to pull the lever what makes the economy go back backwards, forwards or sideways. And you, you know, you’re not, you’re not gifted with some special powers.

You just have insider influence. And I, I think that’s, you know, timing the market. Doing all that with bitcoin, I would never be able to do that. I dollar cost average, I buy a little bit and I’m going to hold and I, I, you know, I’ve put that into my business model. So I will ride bitcoin to zero. If it goes to zero, then I’m going to ride it to zero. I don’t think it’s going there, but that’s a commitment I’ve already made. And same thing with, you know, I might be wrong on metals. I don’t see how I would be given history and the fact that they’re going to.

As soon as they get this new Fed chair, I mean, I think all bets are off. I think this is the last run of. Oh yeah, current dollar system as we know it. I think going into 2026 and then we got four years left before 2030. I think this, the printer. The amount of liquidity that’s going to be created, David, is going to be unprecedented and it’s only going to continue to reflect over in these, these prices. I mean, silver’s up 88% over the dollar in the last 12 months. Wow, that’s amazing. 88%. And I think we’re just getting started.

I really don’t think that we’re at the, you know, there’s always going to be a pullback in times, David. But I, given the, the metrics of what I’m watching now, and this is just being a dealer in two states and you know, I’m, I’m not a big company, but we do enough business nationally to make a dent. And I can promise you it’s not what, it’s not like any other model that I’ve ever seen since I’ve been in business. And I continue to see the price rise and this flow outwards to wholesalers and then it’s going onwards.

Like there’s a physical demand is slipping away from regular people going up the ladder to institutions. Yeah, I remember when we were talking about, there was a clip on YouTube and we talked about it and this guy went to like a small precious metals show, you know, kind of like a gun show if you see. And people set up their tables and they got, they bring some stuff here to buy and to sell. And they were saying, we can’t get enough silver, you know, and it’s all being taken. And this is, you know, early summer. It’s all being taken by these institutions.

And yet he says all the average people coming in here, they’re having to sell their silver. And he said then I really feel like, you know, that’s a, it doesn’t make any sense, but they don’t have the money. They have to liquidate. But position. But they were all saying that. He went around and talked to all these different dealers and said, yeah, nobody here is buying silver, but it’s tremendous demand elsewhere. Same thing that you were seeing that. And you know, so this, this Kitco article, they got a guy who Used to be in the mining industry.

And he just keeps repeating over and over again, physical is king is what he’s saying and how, you know, this ebb and flow with the tariff concern and the demand in India. He doesn’t mention the point that you made, which I think is very important, which is Russia putting that in as part of their central bank. But again, it’s physical. It’s not having something that is a digital token of a digital asset even. I mean, as bad as paper gold and paper silver, kind of a tokenized version gold, that you have to trust. The Shanghai Gold Exchange, to me, the very name itself makes it kind of absurd to think that I could trust these people gonna get my, my money shanghaied.

If I want to own gold or silver, I don’t want to put it in that type of thing. But the, the ETFs that people get into, you know, they are so crazy to get into ETFs. It’s not just gold and silver. It’s even worse when they put it into to bitcoin. But really, physical is king because that’s the only way that you know that you really got it. We’ve got a couple of questions here. Tony, you’ve always been extremely good about pointing out and, you know, stating on the show. It’s like you feel bitcoin is a more speculative asset.

It’s more akin to a typical stock in the sense of, well, you know, the market is very volatile. It can go up and go down and there’s no real way of telling what it’s going to do. You provide people the abilities like if you want bitcoin, I’ll sell it to you. I’m not necessarily all in on it myself. I’m more of a gold and silver guy and I’ve always appreciated that. Gold and silver are proven throughout history. Bitcoin, to me, as always, again, it’s had. People have gotten mega wealthy off of bitcoin, but in the same way that people sometimes pick winning stocks and the market goes crazy.

So to me, that’s always been something that’s there. It’s like every other cryptocurrency. It’s just, it’s again a speculative thing. You can put money in if you have money to burn. To me, it’s one of those things like if you’ve got the extra cash and you want to fool around with it, that’s fine, but there’s no telling what it’s going to do. There’s no guarantee you’re going to make money. There’s no guarantee you’re not going to lose it all. It’s just another speculative asset. Whereas gold and silver are, you know, proven throughout history. They’ve always been money and are likely to always be money unless someone, you know, brain wipes everyone on the planet.

So, you know, buying shares in some corporation that’s in Shanghai. Yeah. Promising you that they really do have gold and silver. I mean that, that gets us back to the whole fiat currency. Yeah, there really is gold in Fort Knox. We promise. So sure about that? We know JP Morgan just moved their gold desk. They’re moving it to Shanghai. Maybe they need to, they need to verify, be closer to the source because that’s where everything’s, and especially in that market is flowing and. No, you’re right, Travis. It’s, it’s theory. I think bitcoin, because of we’re in a digitized age and that’s.

I think that blockchain technology is really important. And I’ve been in the space for, since 2016. It is speculative, it is volatile. But bitcoin’s unique though, in the sense that there is no company. It’s not, it’s not. You can make, make an ETF and you can do all the rest, but the network is still decentralized. And so the theory is, in a world of infinite fiat, it’s this finite, you know, digitized asset, if you want to call it that. And those two ideas are clashing. And to me, I’m always going to go with what is scarce.

And especially if the network continues to make inroads and there’s more adoption over time, it may not go parabolic the way that it has in the past. You know, when I was by, I bought my first Bitcoin at 400. I wish I’d kept it. I didn’t. I put it through my machines. I’ve said that many times on shows. I was just servicing customers. So looking at how far we’ve gone from buying, you know, 400 Bitcoin in 2016 to 127,000 in October, I just think it’s a long term. We have to wait and see where. As opposed to gold and silver.

Physical, physical gold and silver with no counterparty risk, you know, holding on like here, this. I decided like just for me. I’m a dealer. I’m trying to, to get it for my savings. I’m trying to get one ounce a day. If I can do that, if I can afford it, if I can, you know, buy it from, you know, a bulk buy or something. But Yesterday I just took home a Morgan silver dollar. You know, that’s what I saw here on my counter. And I brought it back to my, my loft. I just said I’m going to get one ounce a day if I can and put that away.

And I might start doing some post on that like what type of ounces I’m buying or you know, the history of that coin. But to see if I can dollar cost average. That we’ll see. I might not. If silver continues to do what it’s doing, I might not be able to afford it. I’m gonna have to do half ouncers or, you know, free 1965. So there’s a lot of the physical demand is I think is what’s driving the price. And I think we’re just getting started. Yeah, there’s a couple of comments about that as well. Marky Mark says for silver to break its record in real terms, it would have to reach $197 to exceed its 1980 record of $50 an ounce.

Right. Yeah, that’s what I, I’ve long said that. Yeah. As far as adjusting that $52.50 in 1980 to adjust that in $2025 purchasing power, it’s about right by $250. Somewhere in there. We don’t, don’t quite know. Yes. But I, but I think we’re just getting started because it’s only a fraction of the real demand that could be once people, I think the average person, when they start saying, well I, you know, I got to get in on this silver thing. We’ve seen this in the last few years. I’ve talked about it on your show where there’s been some, some quiet larger purchases that have gone out in, in my, like, not my, just my business, but people that I know and across the board especially.

There was a Texas billionaire who put in an order about three years ago for, I think it was like, you know, half a billion dollars or something. And it took dealers all over the country to fill that order. Like it wasn’t, it wasn’t like an easy thing because the physical supply is so short. And I think another thing that’s happening right now, just a little inside baseball, you look at some of these big wholesalers, it’s taking dealers weeks to get paid. So like if you sell me something and I, the closer I can get to spot, if I can’t sell it to an individual, if I want to sell it to a wholesaler, I might not get paid for a while.

So the cash flow is kinking Up. So you’re seeing it’s again, it’s this, this perfect storm where there’s a big demand, price is going up, people are selling, and then the liquidity for it dries up. It’s remarkable to see the price staying where it is based off of that. And so that brings us a couple of questions that are here. Radisbrough. Thank you for the tip. He says, will we be realistically able to sell silver if it goes past $100 an ounce or will we just have to sit on it? He asked, what do you think? It’s a great question.

Yeah. Every day I’m having to adjust my buying prices and I’ve never been in this territory before and I. It’s not about me. Like I’m not making more money, but I had to drop the percentages based off of the speed because I’m. I don’t have unlimited capital. I mean, I’m not BlackRock and I’m not the US government or, or Jerome Pal. I just can’t like go to the printing press and make more dollars. I have a finite amount of them that I can use for liquidity. So we look at that every single day. And that’s. It’s actually, it’s really good for if you know me, like, if you’re a listener to the show and you want to get in on some silver maybe just a little bit.

We’ve got stuff at spot. Like I’m. I’m able to sell right now a bunch of items just at spot. So whatever spots trading for, you know, you can always get through. Davidnight Gold and am I doing an infomercial? I’m just like, that is. That is huge. That’s never happened before. We’ve always had premiums placed and a lot of items still do. But there’s a whole bunch of stuff right now that we’ve got that we can just do and trade at spot. And I think that’s the upside to what’s happening right now for the average consumer that wants to get some physical silver and that there’s a lot more deals in the market.

I do think no matter what the price goes to, you’re always going to be able to sell your silver. Okay. I wouldn’t worry about that. It’s just you may not get, you know, used to. Back when silver was 15 an ounce. David, I’ll give you 95 a spot. On a hundred ounce bar, I might make 3%. You know, especially if there’s no buyers, like on a retail side, I’d sell it to a wholesaler. Well, right now I’m having to buy at 85 and I don’t want to. There’s not. The wholesaler is going to take three weeks to pay me, so I have to sell it to a refiner.

So it’s just, there’s. Well, what you’re kind of dealing with is what, you know, people who live in countries who have hyperinflation, it’s kind of what they have to deal with. You know, I go out and I buy something and, you know, all of a sudden now, you know, the value of it goes up or, you know, it’s constantly trying to adjust to these rapidly changing volatile prices. And yet what we’re really seeing here is not hyperinflation of silver, not hyperinflation of gold. We’re seeing hyper deflation of the dollar in a sense. Yes. And we’re gonna see a lot more of that because all of the things that are there that are making the dollar lose value are all accelerating, especially under Trump.

And so it’s really living in a combination of hyper deflation, hyperinflation, hyper. So you got a job that I don’t envy. It must be very difficult to do that. We still have some more questions and comments for you as well, Tony. Mr. Palm 1011 says question. When silver hit the highs in 1980, did they stop all orders except sell orders to drive the price down? Yeah. What happened that, that all went down like it was going way up in 1979 and then in March of 1980, boom, it hits and. Well, do you remember what the mechanism with that was? I mean, was that how did they put on the brakes? What I, what I think a part of that, if I’m correct in my history, was there was this, there was this stoppage of the hunts being able to, they, they halted their trading and then they made them liquefy.

They, they dumped that silver that they had been hoarding and then they warehoused all over the place. They were having to put, they put that back on the market. It was a swift sell off. And it happened this, this, I think, perfect storm. Well, it was, it was planned. They put that into motion, I think because it was exposing the weakness of the dollar. Same thing on a less, a dramatic, you know, less dramatic push was gold at the same time. Because remember it was 800, I remember in, in 1980 and then, and then collapsed, same thing.

So I think that was, that was a push with the powers that be and the interest rates being driven to the teens to contract the money Supply the dollar system and the sell off, that was forced, there was a forced liquidation then nobody picked that, that back up. I mean no one, no one ever did what the hunts did. And that’s not what’s happening now. There’s no one cornering the market. This is literally just 45 years of manipulation falling apart. Yeah. With that one, what they could do is basically cause it to crash and then just wipe, make them liquefy and wipe the blood off of the dashboard and resell the car.

Right. Yep. It flooded the system and right now that’s what’s driving the price is the unknown. And the paper, you can’t paper over it anymore. And the new exchanges that are opening up and then the governmental demands and even, even China is putting silver. This is a, the technological asset that silver is the monetary asset. You know, all that stuff for, for electrical and solar and everything else. It’s, it’s, it is all the things are happening at once. I don’t think that we’re at the top of a market. This is my opinion and not investment advice.

And I remember when you were saying, you know, all the silver they send, for example, all these smart bombs and stuff like that that they’re doing, you know, that’s just, that’s not recoverable. You can’t get the nanoparticles that it’s blown into. But you know, just constantly consuming silver in those regards. And this guy who was talking about it said yeah, we peaked like back in 2015 or 16 at 900 million ounces a year. And he goes, and now it’s just a tiny fraction of that. Even if you look at recycling and urban mining and all the rest of the stuff, it’s a teeny tiny fraction of that.

The mines are only producing about 200 million and less than that with the recycling stuff that’s out there. So yeah, Mr. Palm again says thanks Tony, keep sending my monthly package. Love my constitutional money. So he’s a Wolf Pack subscriber as well. Yeah. And the real. We appreciate you. Yeah. Any those, those constituents. We have constitutional Wolf over on Wolf Pack and I put that together at the beginning of this year. It’s been successful because we’re able to pass on a lot of savings. A lot of the, we buy a lot more 90% US silver than I’ve ever bought before.

And it’s just a way to, to pass on some of those savings and you can, you know, again, dollar cost average and put that away. This is all long term stuff. I mean we’re not, I’M not in a speculative business. I think a lot of this is just long term against the dollar. You can’t lose long term. And look at it took 45 years for silver to hit its all time high. And there was a lot of, a lot of manipulation in between. You can’t do that anymore. I think a lot of those bets are off, especially as they, these nation states.

I always point back to that, to that press release by Russia and I said, this is going to move things like we haven’t seen before in the past. I think I was right. Yeah, you’re right. That was a big push. It’s not one individual, it’s not the Hunt brothers out there, it’s not one country and it’s not one financial system. I mean you got competing countries, competing financial systems that everybody’s trying to set up here. And it is a response to a long standing fraud that’s been out there. That’s where I think history rhymes. You know, you’re pointing out that the Hunt brothers and others were looking at the fraud of the, of the dollar and Bretton woods too and all the rest of that stuff.

But this is broad based, so many different aspects that are out there. And that’s why I think it is, you know, a pretty, pretty safe place to be right now. We’ve got the real Octo Spook says Morgan silver dollars are 90% silver, 10% copper. Before it can be useful, the copper must be removed. And I guess that’s if you’re trying to melt down the silver to use it for technology and what have you. Whereas if you know it’s 90% silver, 10% copper, you’re just accounting for that as a form of money. Real Octo Spook says silver rounds 99.999999% silver can be used for anything immediately.

And he also says gold has never lost value. Government attempted to make gold too cheap. But there was always a real market, jewelers, for example, to sell to. So yeah, that’s right. Physical metals, there’s always a market for them. As a general rule. I see some people say, you know, well, I’ve got all my investment is in skills. When everything goes down, you know, I’ve got skills. I don’t need gold or silver. And that’s great. You know, if you’ve got skills, that’s the first thing you need. Food, water, shelter, skills. Those are what you need in the immediate aftermath of some kind of scenario.

But eventually you want something that can store value for you. You can’t always Engage in a one to one paired trademark. When it comes to goods and services we’re talking about difference between income and wealth. Right. And between making money and, and then preserving it in terms that’s what money is for is to preserve what you have earned and built so and have that standard of trade. Well those are all the questions and comments for Tony unless we get some last minute under the wire. Anything else you want to tell us about what’s going on at Wise Wolf as we come into the end of the year there any just want to mention again into the year we’re.

It’s been, it’s been such a crazy time. My mind has been so occupied just finding ways to offload or find liquidity and I’m not used to this timeline that I’m on where it’s taking so long. So a lot of things have just been put on the back burner for sales or other specials that I normally would have run. But I think the most important thing that if you’re in contact with us, if you are going to get it, get into some metals and get some physical delivery. We’ve got things that are some really great deals because they’re closer to spot especially on silver.

I can’t really do that with gold. Gold is a lot faster to, to get liquid on than silver right now. So we’re able to pass on some things that at spot and I think that’s a, that’s a, that’s a deal that may never come back. And I, I will add I think all of my analysis over the years. I think I got something backwards where I always thought that the, the dealers would be those who could, could seek supply and that is very important. But I always looked at it. There was going to be a run by individuals first and then institutions and I got that backwards.

I think the institutions are pushing what’s happening now and there are some, you know, in other countries like India where individuals are buying but here in the West I think it’s institutions that are pushing it first and pushing the supply squeeze and then I think the next evolution of this will be individuals. I don’t think you’ll ever have to worry about that question about what happens if silver hits $100 or plus an ounce. I’m going to be able to get liquid. I think you’ll be able to get liquid even if you’re just doing trading like item for item.

Like you could use it as money. Yeah, I don’t think, I don’t think it’s ever going to be Illiquid. It’s just it, as far as the old paradigm, you just got to have a trusted dealer that, that you can do business with in that, in that scenario. So a lot of interesting things happening and not all of it’s bad. I think some of it’s really good for those who’ve held silver for a very long time and I still think these prices are cheap compared to the damage that’s been done to the dollar and what’s, and what’s next.

Yeah, I agree, I agree. I think all bets are off. David, as far as what happens to the money printer after going into 2026, if you want a prediction, it’s, it’s going to go burn. Yeah. Trump’s going to do everything he can to pedal to the metal on lowering interest rates and printing money and all the rest of this stuff. Once he gets his new Fed chair in there, it’s gonna be crazy. So, yeah, I absolutely agree. We live as the Chinese curse says. May you live in interesting times. Well, we’re living in an interesting time right now and you’re having to deal with the hyperinflation of gold and silver and the deflation of the fiat currency at the same time.

Tony, I don’t envy you at all. I know you’re very busy so thank you for coming on. Really do appreciate it. And again folks, if you go to davidknight.go that will take you to Tony Arderman and as we’ve been saying here, you can buy and sell gold and silver. He can help you with your IRA and he can also set up a metal IRA and especially something that is unique to Tony which is the wolf pack where you can dollar cost average this stuff out gradually save your money and get it into gold and silver. With wolf pack, you pick the tier that you’re in and, and of course you don’t have to.

You can change that at any point in time. You can even go in and do wolf pack on a one off as he’s pointed out in the past. So we do appreciate that kind of flexibility that’s there a lot. Great customer service from Tony. Appreciate it. And the shop in Denison is incredibly nice. As I said. My wife and son and I got to stop in, check out the shop, see Tony for a bit. It’s very nice shop. If you’re in the area, go check it out. I never, I never did. You sent me that picture.

I totally forgot. We got on the road and then everything. Our son got to take a picture with Tony. I’ll have to send it to you. Things got crazy. We found a puppy on the road as we were. Well, we found a couple with puppies. We adopted the puppy. Things, things got busy. So, Tony, in your bank, do you have gold all over the place like Donald Trump in his oval office? That’s not really my taste. Yeah, we have a bank and I love the location. I’m glad that Travis was able to come by and his wife got to see the baby boy.

So it’s happy for that. We have a nice family place. I don’t have any gold plated anything. I don’t have any. I have not, I have not wasted one ounce of capital for any sort of aesthetic. Yeah, it’s, it’s all based off of functionality. So. And I think we’re going to need every ounce of that functionality here in the next few years. So ready for it? Trump is all about wasting assets, I think. But you’re not going to find a solid gold toilet at Wise Wolf Gold and Silver. But you will find some excellent deals there and at DavidKnight Gold.

Yes. Thank you very much again. DavidKnight Gold will take you to Tony Arterman’s Wise Wolf Gold. Thank you, Tony. Appreciate you coming on. We’re going to take a quick break and we’re going to hear from you Con Cornelius, yet again because I really do think that gold and silver are still on sale. I mean, not as much as it was last year with the Trump mania, but I think they’re still on sale. I think. And when you look at one bank after the other, they’re all looking at pretty big appreciation this next year. And I haven’t even when they’re making their cases, most of them are not even really talking about Trump’s Federal Reserve pick and what he’s going to do with that.

So I think there’s a lot that’s still there in the mix. Thank you, Tony. Appreciate it. You, Dave. That’s right, boys and girls, there’s a post election sale on silver and gold. Trump euphoria has caused a disaster nip in silver and gold. It’s time to buy some medals with fiat dollars before they come to their cents is go to David Knight Gold to get in touch with the Wise Wolf himself, Tony Arderburn. He knows where to look to find silver and gold. York beyond.
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