(0:00 - 0:59) The recent October crypto crash erased $19 billion in value in 24 hours, liquidating 1.6 million traders, exposing the fragility of digital finance, of reliance on an asset that has no inherent value. Regulated crypto products were halted, with withdrawals frozen, while the crash was attributed to market manipulation, with BlackRock buying crypto at a discount post-crash, facilitated by an unregulated market. Fiat currencies have always failed. Throughout history, there have been no exceptions, and crypto is essentially a fiat currency. Its value is whatever the market says it is, as cryptocurrencies are not based upon an actual physical asset, such as gold. Crypto ETFs are marketed as innovation, but in fact act as a digital cage, transferring control to financial institutions, while investors lose direct ownership. (1:00 - 1:30) Financial advisors are conditioned to promote digital assets, normalising high-risk investments through regulatory compliance, benefiting institutions over individuals. And the US stablecoin takeover is a scam, designed to move investors' money into government and private coffers. And all of this is being done for the same reasons that markets throughout history have been manipulated, to move your money into the pockets of the wealthy and powerful. (1:31 - 1:59) But you can protect yourself. In fact, you can even profit. In this, Part 2 of our 2025 Third Quarter Financial Update, I am joined by Adrian Spitters, a personal financial consultant who correctly predicted the stock market crashes of 2000 and 2008, and Bryce Wade of New World Precious Metals, to reveal how the investing public is being scammed, and what you can do to profit from the coming planned economic collapse. (2:09 - 7:55) Adam, thank you very much for all that fantastic information you gave us in Part 1 of this interview. Now we're going to move into Part 2, where we're going to be talking about digital currencies. And Adrian, once again, you're up. Thanks, Will. The new financial prison is how digital control is replacing the economic freedom. In this segment, I will be discussing how the October 2025 crypto crash exposed the fragility of digital finance and why gold remains the ultimate test of value. I will explain how crypto exchange traded funds marketed as innovation are, in fact, a digital cage that returns control to major financial institutions. We will look at how global stablecoins led by the United States Federal Reserve are extending programmable digital money across the world, reshaping how access and use, sorry, reshaping how people access their wealth. I will connect this to the launch of Trump's USD1 coin and the rise of gold-backed digital dollar, showing how these moves confirmed long-standing warnings about centralised control of money. Finally, I will explain how this marks the beginning of a gold reset and the creation of two financial systems, one ruled by digital control and another grounded in tangible wealth like gold and silver. Okay. Crypto crash, the crash that happened last Friday, is central control and the return of gold. The October 25th crypto crash erased $19 billion in value within 24 hours and liquidated over 1.6 million traders. What was sold as financial freedom revealed itself as a centralised programmable system benefiting insiders while punishing retail investors. Regulated crypto products were halted, the withdrawal, and withdrawals frozen, providing a digital wealth that, sorry, proving that digital wealth is only as strong as the institutions controlling it. Meanwhile, the central banks worldwide are accelerating the role of programmable currencies that contract, restrict, or freeze transactions. As the digital control grid expands, gold is quietly reclaiming its role as a foundation of real wealth. Unlike crypto or digital currency, gold cannot be hacked, frozen, or erased. It remains the ultimate store of value when the financial system failed. It's interesting that there was a massive, massive short on Friday that resulted in that person doing the short making roughly $200 million on that trade. The collapse of Bitcoin was over Friday and Saturday. Then at the end of what had bottomed out, we saw BlackRock coming in, buying massive amounts of crypto. The reason they're doing that is because they run cryptocurrency ETS right now. It has all the hallmarks of market manipulation, but because the crypto market is totally unregulated, there are no regulators can go after them and prove it. BlackRock tends to operate above the law or seems to operate above the law. That was a manufactured crash to give institutions like BlackRock an opportunity to buy at a deep discount, and somebody made a lot of money on that short. That's a very good point that you're bringing up there, Adrian. I've never had any desire to invest in crypto myself because I've always looked at it as going, well, it's almost like a fiat currency. It's only value is what people say it is. It doesn't have any inherent value behind it. I've always felt that a crash was inevitable. The other thing I hadn't even thought of and that you've just pointed out is that it also, because it's unregulated, because it has no inherent value, it makes it very easy to manipulate. Very easily. Peter and I wrote a white paper called Last Asset Standing, which we did a show on the whole crypto thing. It is being designed as a means of controlling people. Right now, we're seeing that the governments and the institutions are pushing crypto, and yet the institutions themselves are buying up gold. They want us to be entrapped in the crypto, and this is exactly how they're going to move wealth from weak hands, you, to their hands. They're going to create artificial crashes along the way. Your asset is not safe in cryptocurrency. Well, I've never been a big crypto enthusiast, even though you could have made oodles and oodles of money if you were on the rise in the fall. You could have done it multiple times. We hit $20,000, it came back down to $1,000, it went up to $100,000, it came back down and went back up. A lot of volatility there. The big thing for me, because I look at things a little bit more historically than just raw investment potential, is that all of the money that went into that didn't go into other places in the economy. It didn't go into assets, it didn't go into equities, it didn't go into bonds, it didn't go into what we typically know as the traditional economy. Because of that, that's a lot of wealth that was just effectively static, not doing anything. Now, the same argument can be made for gold, because it's more or less a static asset, but gold is still a central place in the economy, as I've just illustrated in the first portion. The necessity for having something that is real and physical... We used to joke, South Park literally made an episode about this saying, give us all this internet money. (7:56 - 10:51) Well, we literally now have internet money. This is what cryptocurrency is with a little bit of extra steps, but it's effectively internet money. If you take all of the money that went into crypto, at times it's been over a trillion dollars. Well, what if that trillion dollars had gone into real assets or the real economy? What would it have done? What kind of jobs would have been made? Now, there's people that have jobs in crypto, but if you're just holding onto crypto and it went up in value, and you sold, and you got the money, and now you go do something with the money. I think the important thing that I'm driving at here is that when you have an economy, any economy, there's things that are happening in that economy. You want them to be valuable, prosperous things for the people in that economy. But if you have a portion of the wealth in that economy just going off into space and just not doing anything, and then it gets devalued, which is what they might try to do with the U.S. debt, who knows? Adrian will probably comment more on that. But you have a whole bunch of wealth that's not doing anything useful. Why I think gold is and continues to play a central role in how the economy functions is that it is a guaranteed store of wealth that can't be zeroed out. It can't go to zero because it is physical, it is a thing, and it is exchangeable for other things in the economy. This is, I think, one of the things that I'll be talking about next year, is the idea of sound money and getting back to what that idea actually is. The other concept that occurs to me here is that when we're talking about these various assets, we've got gold, which is a tangible asset, has its own inherent value. It is a physical thing of which there is a limited supply. And then we look at cryptocurrencies, which are not a physical thing, which have no inherent value, which potentially could have a limitless supply. It seems to me, and I'm not a financial expert, so I'm going to ask you guys for your comments on this, but these non-tangible assets appear to be far more vulnerable to manipulation by those who have billions and hundreds of billions of dollars to work with. Because sure, they can manipulate the precious metals market, but they can't change the amount of precious metals that actually exist. Unless you mine it out of the ground or pull it out of the water, or we find an asteroid that has a lot of gold. Sure, we're always mining more of it, but that's a very, very slow trickle into the supply that is already there. Whereas with a cryptocurrency, well, you could issue an unlimited amount of it tomorrow. You have such huge pools of money now that those pools of money can manipulate any market. They're at the scale right now where nothing is untouchable, and they can drive the markets just by the buying and selling and knowing firsthand what's about to happen or they don't know what's going to happen. (10:51 - 12:14) This whole Bitcoin thing, the theory is now that those with the money knew that Trump was going to go after China with new tariffs. That was a trigger that then triggered the sell-off on the Bitcoin, allowing that person who made a massive short to make that money. They already set the conditions to benefit from it. There's no way you're going to put a $200 million short on a market unless you knew something is coming around the corner. That's a lot of money to throw at something. They knew something was happening, and it was a trigger. There's a collaboration between the government and maybe BlackRock and some other institutions that all knew it was coming, and it was a setup. If they can do it, this proves that they can do it. This is going to happen over and over again. Now, one of the things I wanted to just go back on on what Bryce is saying is the financialization of assets, and everything is chasing digital assets and or these bubbles, which are just thin air, basically. The money has been driven away from the real economy. We don't have real production anymore. Real production is in the tank. What we're seeing is all this wealth creation is all digital. It's all bubble on top of bubble. (12:15 - 14:49) We are in the endgame where real assets are not getting their attention. If you're looking at the stock market right now, we're again seeing the AI sector representing roughly 50% of the weight of the US stock market. A lot of it is driven by ETFs where people, when they invest in the stock market through an ETF, $0.50 of their dollar goes into seven overvalued stocks. The rest of the market is not getting their fair share of stock or fair share of cash. What you're seeing is that you've got commodities. We're at the beginning of a major commodity supercycle. Even though precious metals have done exceptionally well, the underlying miners have not really picked up on that because the money is going to the overpriced stocks in the index versus where the real value is. Gold stocks should be flying right now. Silver stocks should be flying right now, but they're not. Commodity prices are still like commodity stocks are underperforming the underlying assets that they're mining because the money is chasing the wrong assets. I think that will change, though. I attend VRIC, which is the Vancouver Resource Investment Conference that happens every January, usually in Vancouver. There's a lot of really good speakers. Andy Schectman, Douglas Macgregor last year, Rick Rule is a regular there. They have all of these experts from all over the industry. Robert Kiyosaki was there last year. There was a whole bunch of predictions and talk about what's happening in mining. Why is there not a huge move into mining stocks? Commodities are going up, and we all see it. What typically happens is there are cycles of commodities, what's called the commodity supercycle. I just want to preload this a little bit. What is basically showing is this. This is basically what a supercycle looks like. There are times that the commodity prices go really high, and it usually follows wars because that's what you need commodities for, is building stuff to get blown up. You have to replace a whole bunch of stuff. There's all sorts of demand in commodities right now because there's all sorts of industrialisation happening all over the world. The reason I'm showing this is because the move into commodities when there are other things happening in the economy is what is predicated on mining. You have to be able to pull it out of the ground to be able to use it in industry. (14:51 - 16:47) China has the monopoly on this, which I'll go into in the next segment. I wanted to highlight this because we're seeing this across all commodities. Mining is a really important aspect of this. Mining is among the most capital-intensive things that you can do with your capital because you might not get a pick in the ground for a decade. You might have to spend billions of dollars in all sorts of regulation, HR, talking to people, politics, lobbying, and all sorts of nonsense before you actually get into the ground. Once you set up the mine, it literally is printing money out of the ground because you sell the asset that comes out of the ground. The thing that's happening now is there is a move, especially in the West, to get off its reliance on China for Rare Earth as an example, which I'll go into in the next round. We're seeing these red dots, these peaks as we're going up. Then we got the blue ones at the bottom, which are where it's bottoming out. What people are always asking is if you say, look at that first blue dot as it moves up to the US Civil War, the first red dot. We see this pattern throughout where we're seeing a peak, and then a trough, and a peak, and then a trough. What I've noticed about investors in any market, no matter what it is, every time we're pushing up towards the peak, people are going, well, is this the top? Is this where we're going to end up? Then it drops, and they feel like, oh, yeah, it was good. It was great that it bottomed out when I bailed out when I did. Then it shoots back up again. What has occurred to me looking at this chart is that the way to predict is not to be looking at the peaks, but to be looking at where it bottoms out. Because these bottoms out, where you're seeing these blue marks, that's very predictable. You can almost map them out as to where they're going to be. Then once you see that bottoming, now, you buy in, and you just stay in there while it rockets upwards. (16:48 - 18:12) There's a chart that I don't have access to right now. It's called the Kondratieff chart, where it shows that interest rates move in 60-year cycles. 1980 was the end of a 30-year upcycle during the 65 to 80, 15 years. That was a 15-year cycle where interest rates went up. But during that period, interest rates went up, came down, went up, came down, went up, that zigzag pattern. You think, oh, interest rates peaked. No, and then they went down. Then they went back up again until 1980, when Volcker basically killed inflation. Then interest rates started going down as a 40-year decline of interest rates. 40 plus 15 is 55, roughly 60-year cycle. Now, we're in a long-term cycle. They're saying interest rates have bottomed out. No, we have the government manipulating the data to show interest rates coming down, but we have continued inflation. We're probably on a 30-year upcycle, just like the super cycle of commodities. We're on a 30-plus-year cycle where things are not going to peak for another 25, 30 years on the interest rate cycle. These are long-term wave cycles, and the commodities follow that. That's proving my point. I'm no financial expert, but knowing what I know now, looking at that chart and what you've just explained, Adrian, I can look back about two years ago, when we had interest rates at a quarter of a percent. (18:13 - 18:22) Well, how the heck are you going to get any lower than that? Very obviously, that's the bottom. Now, as you say, we're going up. Will, you know my secret now. (18:24 - 19:10) All right, well, there you go. I've been following the interest rate cycle and predicting everything. You've hit the bottom. That's the time to buy in and just ride it because it's going to keep going for decades. Every market call I made has been based on that, on the cycle. I'm sorry, I just gave your secret away. Well, nobody's got the wherewithal to remember or follow that. It's been tried and true to follow that cycle. Yes, and it's where it might be obvious even to me when we're looking at the interest rates when we hit that quarter of a percent, which was just ridiculous. There's other markets where it's not so obvious, where it takes an expert like you to say, OK, that's the bottom. We bottomed out. Now it's going to go up. You can't time the bottom. It might bounce for a while before it starts going up. But you know that you've hit bottom. (19:10 - 20:08) You haven't really pinpoint when the up cycle really starts. And we've seen that a bit during where interest rates were at zero for quite some time. Right. So, you know, the trend is there. What you can't predict is the timing of the exact turnaround point. But when the timing always becomes difficult. Pardon? But when it starts to turn around, you've been through that period of, yes, you can't predict the timing. You don't know when it's going to start. But when it starts to turn, OK, you know, because you've had this bottomed out period. Now it's going up. It's time to buy in because it's going to keep going for a long time. Yes, it peaks and drops, but it's going to keep going upwards. Yeah. And all the noise that you hear in the news, all that is just noise because the trend is set based on the cycles. Right. The conditions are set for these things to happen. And then everything we hear about is just noise to either mask it or enhance it. OK, so I'm going to ask you to continue now with your presentation on electronic funds. (20:09 - 21:09) Financial advisors will are being educated on to promoting digital ETFs as a good thing. Crypto ETFs, the digital cage, the sky, the skies of innovation. Crypto ETFs are being sold as financial innovation, but they are really a new layer of centralised control by placing digital assets inside custodial structures managed by institutions. Investors lose direct ownership and become digital renters. Advisors are being conditioned to promote digital diversification while regulators, media and fund manufacturers work in unison to normalise tokenised finance. These products tie into the four quadrillion derivatives system that transfers a risk from institutions to individuals. This is not about innovation. It is about containment through compliance. True financial freedom lies in holding tangible assets like gold, silver and income producing real estate that exists outside the digital control. (21:10 - 27:03) The ETF flood. Now, what is really happening is we've already started seeing the push that the institutions are buying up gold and silver, real assets, while they're pushing for digital. The reason banks, for example, don't want you to own gold or don't want to sell you gold is it's a one time trading, one time trade, and you're going to sit on it and not generate any revenue for them at all. They don't want you to be buying into that. Morgan Stanley, that you pointed out, Bryce, where they put 20% into gold, it's actually a digital piece of paper. They're going to physically hold the gold and then they leverage it into their ETFs or into their portfolio. Those portfolios aren't necessarily owning the physical, but they're charging management fees on that gold allocation within their portfolio. Now they can start generating reoccurring revenue on that gold portion. Instead of selling it directly to you in their managed portfolios, they'll put gold, but they're earning a fee. The same thing with these ETFs. Unless you're buying a gold ETF or a precious metals ETF, they're not going to want to be interested in recommending a hard asset. They're going to want to recommend a paper asset that they can generate reoccurring revenue. The whole push with the digital assets is that it's another revenue stream for them. By pushing everybody into crypto, by pushing them into ETFs, that's a big revenue stream. Now, the Canadian regulators are approving ETFs in Canada that carry the same ETFs, the same digital assets. We are being taught through our compliance everything that this is a good thing, and this is how we manage it, and this is what you recommend. We're being taught by the industry to sell assets that are high risk, and we're normalising it, or the industry is normalising it. Advisors are being told, this is what you should sell, and how you should sell it. Basically, we're looking at the commercial paper crisis all over again. Yeah. The industry is normalising it, and they're using advisors, and then they're using compliance to make it legitimate, and then the advisors feel comfortable in recommending something that is extremely risky. Wow. The advisor goes along with, I got to be compliant, I got to stay, I got to do what the regulators want me to do, and I can sell an ETF because everybody wants ETFs, everyone wants crypto, but here's a way I can now sell crypto because as a financial advisor, you don't make money selling Bitcoin, but people buy themselves through their wallets. Through an ETF, now you can monetise crypto. Now the advisor and the institutions get paid. It's all being done on purpose because when it all crashes, the people who have the most money walk away with more, and the little people lose all their money. Yeah. Basically, the industry now is being trained to sell it. You're going to see a major, major push because they want us to own digital assets because at the end, the end game still is CBDCs, whether it's going to be through stablecoin, controlled by corporate entities, or a government-controlled CBDC. The big push is that everybody has to own digital assets because they want to take away that physical control of all your assets. I think you've just nailed another general rule for us here, Adrian, and I'm thinking back now to the excellent book that was written back in the 1800s, what was the extraordinary popular delusions and the madness of crowds? One of the examples in there was the tulip craze in Holland hundreds of years ago, where people were buying up these tulips and selling their houses to buy a single bulb. What you're just talking about here and what we've seen in the past, it seems to me there's this general rule now that if the asset has no tangible value, and everybody's pushing it, that is the last thing you want to buy. Exactly, exactly. When the shoeshine boy tells you that you should buy XYZ back in the 30s, or I just had a prospect waiver because their chiropractor told her that they've made 25-30% a year for the last five years. I asked, well, what is he invested in? Well, AI stock. I said, there's your answer. They're buying air, they're buying hype and hope. I've been through that. I saw that in 2000, when I basically got all my clients out of .com mutual funds because they were overpriced, and most of the companies had no valuations. The price to earning ratio was zero, or infinity actually, and I saw the writing on the wall. I moved everybody into precious metals, mutual funds, gold funds, financials at the time. In 2020, late 2021, the market crashed 50% while financials and precious metals were up 30%. That's an 80% spread. I've seen this before. There's always a story of some person who made out like a bandit on this, and what they don't understand is that person was the lucky one who got in and out before it crashed, and everybody else is going to lose their money. Yep. Exactly. Here's an interesting slide. Global stable coin takeover. Fed's bid for $8 billion of citizens' money. Catherine Austin Fitz warns that the Federal Reserve, led by the New York Fed, in coordination with the US Treasury, is tendering for $8 billion global citizens through dollar-backed stable coins. (27:03 - 28:06) She calls it a hostile takeover of the world's payment system designed to absorb global finance into a single programmable US-controlled network. Smartphones, digital wallets are all entry points bypassing local banks and national currencies while channelling global liquidity into US Treasuries. What is being sold as innovation is actually consolidation. The Fed and the Treasury are positioning themselves as the world's central payment processors. Gold remains the only real defence standing outside of the digital control grid and preserving true financial independence. What's really happening is what Catherine Austin Fitts, I just happened to catch this episode going, wow, she made a great point. What they're going to do is they're going to basically use the payment systems, use Apple Pay. I don't know what Android is called, but they're going to use all the digital payment systems as a gateway to payment for every person on Earth, bypassing the banks. This is where Trump and stablecoin is coming into play. (28:06 - 29:00) They're going to capture all the payments and all the other systems are now going to be fighting for it, even CBDCs. This is a play against CBDCs. It's a method of control. If we take a look at that and we combine it with, say, Iceland, which has had digital IDs now for years, where you can't even borrow a book from the library without your digital ID, and you combine that with what you've just talked about, and they put those two things together. It's not even going to be a matter of whether or not you opted into a CBDC system. You're going to be forced into it. It doesn't matter whether it's stablecoin or CBDCs. CBDCs are controlled by the government. They're going to control your buying and spending, but the corporations have the same attitude. The only difference is they're the ones lobbying the governments to do it for them. Now, they control themselves. The end result is going to be the same, total control of your spending habits. (29:01 - 29:09) Well, buy gold. Buy gold, buy gold, exactly. Buy gold, because then you have an actual asset that has real value. (29:10 - 30:41) Yep. Trump USD1 coin confirms Catherine Austin Fitts' warning. The launch of Trump's USD1 coin confirms Catherine Austin Fitts' warning of a global financial takeover. Co-owned by President Trump and his family, the USD1 stablecoin privatises the money supply by converting public debt into private profit. Within three months of its circulation, of its introduction, its circulation passed $2.2 billion, directly linking national debt growth to investor returns. Under the Genius Act, private issuers now access Treasury markets without Federal Reserve oversight, merging public debt with digital currency. The shift fulfils its tender offer for humanity. Centralised global finance under US control, while nations lose sovereignty, insiders profit from rising debt, and the only real protection lies in tangible wealth, as gold, silver, and real assets are beyond digital reach. Right now, USD1 represents about 10% of the stablecoin market. I don't know what percentage Trump owns, but every single transaction, the conglomerate gets a percentage on the transaction. So Trump is going to make a phenomenal amount of money on this trade. Right, because what they're doing is they're taking those percentages off of each transaction. (30:42 - 31:22) They're turning it into a tangible asset, gold, while the asset itself, the coin, has no real value. And so this is how they're turning all of these transactions that have no value behind them into a physical asset for them. And here's the thing. They're forcing governments, companies around the world, to buy US Treasuries. So this is, right now, the first stage is forcing stablecoin holders to own US Treasuries. It's forcing them to buy Treasuries, whether they want to or not, because they need to for the stablecoin. (31:23 - 33:46) It's now bringing money back to the US to prop up the Treasuries. So it's actually filling out two agendas. It's funnelling people into digital assets, but it's also propping up the Treasury, US Treasuries, right? But the next move is going to be backing it by gold. And that's something that's coming. And my next slide, I'll address that, or my next two slides, I'll address that. So basically, they are basically doing a hostile takeover of the monetary system or the transaction system. And Trump and his backers and corporate entities in the stablecoin side are going to be making massive, massive profits. And it doesn't matter which way interest rates go. They're going to make money both ways. Right. Because they make money on the transaction. Every single transaction. Yes. You're right. The US dollar stablecoin may be the bridge to a gold reset. With US debt above $37 trillion and interest costs nearing $1 trillion a year, policymakers are running out of options. Gold revaluation through digital rails could restore solvency optics without declaring a default. The US Treasury still values its gold at $42 per ounce. Repricing it to market levels could instantly strengthen the federal balance sheet. All that Trump needs to do is to introduce legislation requiring stablecoins to be backed by physical gold. That single act will merge digital money with tangible value and re-anchor the US dollar to real assets. Those, again, who hold physical gold and other tangible assets would stand on the right side of history as America needs a modern gold-backed financial reset. Now, there are a number of people who have made a number of predictions about what the repricing of gold might look like and that it is coming. First of all, if they revalue gold, and when Peter and I did this article, just the fact of revaluing the $42 on the books to market, and at that time, gold was priced at $33333 US, it would cover 2.35% of the debt. It would improve the debt. It doesn't wipe out the debt. It just shows that they're on the books having more assets to cover the amount of debt they have. (33:46 - 34:32) Then there was talk that there was going to be at least a $20,000 per ounce gold revaluation. I think that was, oh, I can't remember the name now, but George Gammon mentioned the guy. He's a good friend of his. $20 an ounce was possible. Then you had--. 20,000 an ounce, you said, is what you meant? 20,000 an ounce, yeah. Then I can't remember if it was Rick Rule or another prominent gold guy talking about that gold would be valued at $50,000 an ounce. If they revalued gold at $50,000 an ounce, that would cover 35% of the debt. That was Andy Schectman. (34:33 - 36:39) Andy Schectman, but he was actually reiterating what somebody else said. It wasn't Andy who made that prediction. It was somebody else that a number of people were talking about, but it wasn't Andy himself. He did a presentation about it. He did that too, yes. $50,000, that covers 35% of the debt. This is now Peter Schiff said, and I think, Bryce, you said somebody else was also mentioning, maybe it was because two years ago, Peter Schiff made a prediction that gold is going to be repriced at $100,000 an ounce. That covers 70% of the US debt. Now, I haven't gone beyond that, but if gold gets repriced at, if 100,000 covers at 70%, $150,000 right now for gold would basically equal the amount of debt. The US now has, because gold is now a tier one asset, and they have what's called a revaluation account. If they decide, let's drive it to in stages, and they're going to wipe out the debt, the debt's still there, but now they have assets to cover the debts. Yes. This is where I want to weigh in, because we've discussed this in past updates, the possibility that they would revalue gold, and it was a possibility. Now, I'm not going to ask either of you gentlemen to make a prediction here, because it might not be within the rules for you to do that, but I'm just a journalist, so I'm going to say exactly what I'm seeing here. What we just discussed with this stablecoin, and how they've created this system to continually filter more and more gold into the treasury, into their hands, and given, as you've already said, the trouble they have with the debt, and reaching the point where they're having trouble servicing that debt, I would say looking at this, this says to me, they are going to revalue it. There is no ifs and buts. I'm convinced. They have to, because why else would they be doing this? Why else would the US be buying up records amounts of gold, and we know they've done that, and now they've gone a start farther, and they've created a system that's going to continue filtering in more gold. (36:40 - 37:08) Of course, they've got enough of it, they'll revalue it, and their debt is covered. What they're doing right now, they're waiting to accumulate enough gold at lower prices, and I think, and Bryce can concur, that they are artificially trying to keep gold prices down. I think gold and silver would have been a lot higher if they weren't manipulating it right now, but they want to be able to scoop it up as much as possible and drive as much of that competition into stablecoin or into crypto. (37:09 - 37:39) Yeah, and if we saw the amount of money that's in the ETFs and futures, and we actually went into the physical, the actual price would be much higher, because the ETFs, especially, are sold at like 400 to 1 paper to real, as we've reiterated as well. That's what keeps the price down. They're creating fiat gold by just writing paper on, for one ounce of gold, it's 400, and for one ounce of silver, is that 400 now? Yeah, well, I've seen it between like 380, like 420, 440, something like that. (37:39 - 38:00) And silver's even worse, and silver's even worse, right? So without that manipulation, gold and silver would be dramatically higher. It's artificially lower so that they can accumulate as much as they can, especially now that there's an actual push. That's why they're driving all the competition into digital assets, because anybody that's buying physical is competition to them. (38:01 - 38:19) Right, and especially China right now is legitimate competition to this US dollar hegemony that we've been living under for our entire lives, and much before we were born. And so what we're really getting to, and I was going to talk about this next, is the idea of sound money. And so Judy Shelton, which I'm going to cover, is talking. (38:20 - 38:28) So I'll just step back for a second. So in all assets, sorry, in all currencies throughout history, they've all died. Every single one. (38:28 - 39:02) The only ones that are alive right now are the ones that are alive right now, because they're alive right now, right? But the way that currencies typically end is either hyperinflation or default. A default means like you can't pay your debts, and now you default, and then the currency explodes. Where hyperinflation is, you print more and more and more and more money, and the currency itself becomes worthless, right? So what they're talking about doing with the US is reattaching gold to the currency, to re... what was the term that she used? Re... I can't remember the term. (39:02 - 39:12) I'll find it for the next section. But effectively... Rehypothesize? That was the technical term. There is another one that I was looking for, but it doesn't matter. (39:12 - 39:42) Whatever, they're trying to improve the confidence in the currency itself by connecting it to gold, right? So there's default, there is hyperinflation, and now there is potentially reconnecting the price of the currency to gold, which I'll overview in the next segment. And this next slide, I'll basically talk about that. I just want to interject while we're still on this topic, because what this says to me, and it's not just the US, it's been buying up huge amounts of gold. (39:42 - 40:07) Russia, China, they've all been buying up massive amounts of gold in recent years. So when the US decides that they want to revalue it, they're not going to get any pushback from the other superpowers, they're all going to go along with it, because it makes all of them rich, solve all of their problems. And if that's the case, then I can look at something like $50 an ounce silver, $4,200 an ounce gold, and instead of asking, you know, has it peaked? I'm looking at it going, it's cheap. (40:07 - 40:34) That's a bargain, buy it now before they revalue it. And it's $20,000, $30,000 an ounce gold, or $150, $200 an ounce silver. Well, every time there's been one of these bull runs, the new floor is like a couple times higher than the original price, right? So when it started $250 gold in like 2000, it ended at like $1,100 or $1,200 or whatever it was after that whole thing ended. (40:34 - 41:02) Well, that's still a 6X effectively, or it was $250, let's call it a 4 or 5X. That new floor was much, much higher, right? So if the new floor was at, let's call it, you know, $2,000 for the sake of argument during this bull run, right? What would the next one be at, you know, four or five times? Well, that'd be like $10,000 new floor. That means that the new high would be somewhere above that, right? That's just using the past as a potential barometer of what could be happening in the future. (41:02 - 41:25) So these numbers that we're talking about where they might seem insane because we have what's called recency bias and confirmation bias. So we look behind us and say, well, that's probably what it's going to look like in the future. Well, if it does look like what's happened in the past, in the future, well, we're going to see a multiple increase in the price of precious metals because that's what's historically happened during the bull run. (41:25 - 41:40) And then it falls back down to a new floor. And so the people that got in early, man, they are really loving it right now, because this is like kind of the promise of gold and silver that the silver stackers have been talking about for years is that there's something big coming. It's coming soon. (41:40 - 42:05) Like, you know, Peter Schiff, because we mentioned Peter Schiff, like he's kind of in some, the idea of a gold bug is kind of a derogatory term. Oh, you like gold so much, do you? Well, you know, gold's been one of the best performing assets this century, and especially it's outperformed everything in the last year because it's up 50% basically, right? And so when you're talking from his perspective, like he's basically saying, I've been telling you for years that this is what you should be doing. I told you so. (42:06 - 42:42) But now we're getting to the point where it's, you can't avoid the question that says, what is happening and what am I going to do about it, right? How am I going to protect myself? And what does the world look like when these things that have been predicted for a couple of years now actually happen? Because now we're living through them. As I mentioned in the first segment about the silver squeeze, right, the silver stockers have been predicting this for years because they did the math and said, there's not enough for everybody and demand is going to go up and supply isn't. Well, that must mean prices are going to go up, right? Yeah, and talk about reasons he buys. (42:43 - 43:04) Our industry has been always telling us that precious metals and gold, you can buy stocks, but it's always high risk, high rise, high risk. And they always downplay owning too much of it, that a client would have to be having extremely high risk profile to be investing in those assets. But right now where we are in the world today, those aren't high risk assets anymore. (43:04 - 43:19) They are where the wealth is going to be. And the industry, the regulators are in a way misguiding their advisors through compliance, what they should be buying. And you got to remember that the industry relies on stocks and bonds. (43:19 - 43:38) That's where they want their advisors focussing on, not on owning precious metals. So you're always going to get pushback from your bank-owned brokerage firm, from your banker, et cetera, because they think that you should be owning stocks and bonds, not precious metals. Only because in their mind, their training is that's a risky investment. (43:38 - 43:49) And that's backed up by compliance. This is my last slide. The debt trap behind stablecoin fostering a global divide. (43:50 - 44:19) America's debt spiral is now systemic with liabilities soaring past $37 trillion. Interest costs devour federal revenue, forcing even more borrowing and monetary expansion. Russia's foreign minister, Sergey Lavrov, recently warned that Washington may move debt into the cloud by converting U.S. treasuries into stablecoins, a digital reset that could obliterate pension savings and insurance assets across the West. (44:19 - 44:36) This is not an innovation. This is a trap. By merging debt with programmable finance, the United States risks fracturing global alliances, eroding sovereignty, and accelerating the concentration of wealth into institutional hands. (44:36 - 45:08) And also in one of the videos I saw him, he's saying that the next move would be that the U.S. would, that stablecoins would be backed by gold and that would be the trigger for a global reset. So even, I mean, Russia is buying up gold because they're backing their currency with gold, but they're not going along with the stablecoin thing. It's just, they're looking at self-preservation primarily. (45:08 - 45:19) And so is China, right? So now it's the brick nations is now fighting Trump and stablecoin. Yes, but we saw that coming. We've been seeing that coming for years. (45:21 - 45:45) Well, and this is the financial battle, if you will, right? Because empires don't function unless you can create transactions and you can fund your empirical escapades. And so what China is trying to do is trying to create their own sphere of influence so that they can effectively do the same thing. Now, nobody trusts China for obvious reasons. (45:46 - 46:17) So they had to use gold as a settlement currency because nobody wants their, like the yuan, which is their currency, is heavily manipulated by the state. So we talk about all the manipulation that happens with the U.S. dollar, but that's through back channels, that's through private individuals and hedge funds and all sorts of different other mechanisms that isn't the state directing it directly, right? In China, the state literally says, this is the price because it's centrally controlled. And so nobody wants to be in a situation where the government of another country can dictate transactions. (46:17 - 46:26) So they basically said, no, we'll deal with gold, but we don't want to deal with your currency. We can trade currencies, but we want settlement in gold. And this is the structure that they've created. (46:26 - 46:44) And so you couple all of these things together, right? And we're talking, when I said earlier that there is a sea change happening and how the global economy functions, I'm not exaggerating. Like we're now seeing the mechanics of what this could potentially look like. So Adrian's talking about tokens. (46:45 - 47:07) I'm talking about the movement of metal and the supply and demand aspect. But there's also the exchange methodology of the SEO, or I can never remember the name of their, the structure that they set up to compete with the SWIFT system. So if the SWIFT system gets replaced, well, what is- Isn't that Enbridge? Enbridge is something different. (47:08 - 47:14) No, it's something different. It's not the Chinese one. Maybe I should just figure this out right now so I don't look ridiculous. (47:15 - 47:33) While you're doing that, then let me insert this comment. Because once again, what I'm hearing here, and we've been talking about the BRICS nations pushing back against the US dollar for a long time now. But what comes out of that is it doesn't matter who wins that war if you have gold, because both sides benefit from an increase in the value of gold. (47:33 - 47:40) Exactly. And I want to add to that, as a Canadian, we do not have any gold backing anymore. Carney sold all our gold. (47:41 - 47:59) So if this revaluation happens, even at $20,000 an ounce, we are hooped in Canada because our dollar is tied to the US dollar. It's going to collapse the dollar, and it's going to collapse Canada. And for Canadians to get out of this mess, you need to own a lot of gold. (47:59 - 48:04) Yes. That's your only saving. I mean, you can have a house. (48:04 - 48:17) It's not going to be worth as much because when the dollar goes down, yeah, relative to the dollar, it's going to be worth more. So we're going to see inflation in housing prices in that regard. But you need a lot more dollars to buy that same house. (48:17 - 48:42) So your house is going to devalue relative to the dollar, even though it's still an asset that is going to retain more value. So in a way, it's going to retain more value in purchasing power relative to a dollar, but it's still going to be a declining asset in real terms in purchasing power. But gold is going to go up in multitudes compared to your home, compared to your currency, your bank account, compared to stocks, bonds, everything else. (48:42 - 48:55) Gold is going to be the one asset that's going to basically preserve a big chunk of your wealth. Yeah, so it is the Shanghai Gold Exchange that they're doing that with. It's through the SCO, which is the Shanghai Cooperative Organisation. (48:55 - 49:24) So it's basically the mechanism that they're using to back up the BRICS things. There's an article that I read about this because the first transaction was completed sometime in the summer in the last couple of months. And so this process is now active, but it's not fully rolled out. (49:24 - 49:41) It's basically in its effectively beta phase. They're testing it right now. Okay, so everything that I've been presenting so far today are articles that Peter and I have been writing in the last couple of months on topical things. (49:42 - 50:25) And if you want to be on top of what we see coming and what we're writing about, we have a newsletter called the Merrick Spitters Reset Report, and we will be publishing almost daily on new articles. And to get that report, all you have to do is scan this QR code. And the bonus is that when you scan this QR code and sign up for our newsletter, you're going to get a direct link to download a digital copy of our number one international bestselling book, It Starts With Gold, and a white paper called Last Asset Standing on the development of crypto and why it's a digital trap and why it's a Trojan horse. (50:25 - 50:35) And with that, Bryce. Yeah, thank you. So the big thing that I wanted to get across in this segment is the idea of sound money. (50:35 - 50:50) So we talked a little in the last segment that there's like kind of a financial reset coming for the US dollar. Now that could be stable coins, that could be gold-backed currency. We don't exactly know what it is, but there's a lady named Judy Shelton, Warren's a big fan of hers. (50:51 - 51:07) And she has been an advisor to the Trump administration for some time. She's talked about this idea of sound money. Well, what is sound money? Sound money in definition terms is, the technical points for it is, where is it here? I just had it one sec. (51:08 - 51:27) Core features, so stable value, money purchasing power remains stable, limited supply cannot be printed at will, like so it's hard money. Market-based anchor, so historically tied to gold and other scarce assets. Monetary discipline forces governments to live within their means, obviously something they don't do right now with all the printing of money here and abroad. (51:29 - 51:53) And the transparency and trust, so the value of money is visible, verifiable and dependent on faith in, not dependent on faith in bureaucrats. So in short, sound money constrains political discretion and monetary affairs, aligning currency with real enduring value. Now, the reason I'm bringing this up is because Trump himself and Judy Shelton have basically said that July 4th, 2026 is when this restart, whatever they're planning to do is when they're going to roll it out. (51:53 - 52:08) So it's the 250th year of America's independence. So July 4th, 2026 is 250 years that the country's been around. So this is when they're hard reset of whatever they're planning to do is they're going to roll out. (52:08 - 52:29) And so what they're talking about is a couple of different things. So they're potentially going to back US treasuries with gold, right? So this is the idea of sound money where you use a hard assets to reconnect the price, so the value of money to a hard asset. And like this is not beyond the pale because Russia's actually already done this. (52:29 - 52:44) A couple of years ago now, they created a exchange rate for rubles to gold. One ounce of gold is like 5,000 rubles or something like that. Now I have no idea what that is now because gold's like $4,000 US and like it's like a one to $100 to rubles. (52:44 - 53:09) But just as a kind of a side quest here for your viewers, I have a client that told me that when she grew up in Kiev, there was a guy in her town that just went around town and bought up all of the gold that he could use his hands on. You got gold, give your rubles. You got gold, give your rubles, right? And when they were doing that, this was near the end of the USSR. (53:09 - 53:29) So when the USSR fell and you could do international exchange, he had a whole bunch of gold that was now worth in the 1990s far more than the rubles that he paid for it. So he became a millionaire overnight because he bought an asset that was not getting real value in it because it was a closed, centrally controlled system. And now in the open market, there was like, hey, this is worth a lot more. (53:30 - 54:03) And so this idea of central control versus market control of assets, so like the open market or the free market versus a centrally controlled structure is vastly different. And so if you have price controls on an asset, the actual value of that asset is obviously much higher because you have to put a price control on it, right? And so sound money, the whole idea of sound money, and I'll bring up my screen for a second so everybody can go and listen to this interview with Judy Shelton. So this is what Judy Shelton looks like, right? And Michelle Makori, who is gonna pick over here, here. (54:03 - 54:27) So Michelle Makori on the left, Judy Shelton on the right here. And so this is Miles Franklin Media. So Miles Franklin is the, Andy Schectman's outfit in the US, one of the major people in our industry that is on like, he's literally one of the tip of the spears for looking into the future and saying, this is what I see coming, here's the evidence, here's what's happening, here's why it's happening, here's what I think is gonna happen, blah, blah, blah, blah. (54:27 - 54:54) He is one of the main people that I look to for, Andy, what's gonna happen? And he's recently talked about, you know, the COMEX blowing up and all of this, the problems that I overviewed today. He's one of the main people that was saying for the last few months, there is something coming and this is what it will probably look like. And now we're here and this is what's happening, right? And so the reason I'm overviewing this and specifically this interview is because she talks about, it talks about at length some of the things that could potentially happen. (54:54 - 55:56) And one of the big things is that the backing of the US Treasury with gold reconnects, and I still couldn't figure out the word that I was trying to use for this, but it basically gives credence, it reinvigorates belief and trust in the US dollar so that it doesn't blow up, it doesn't default, and they don't have to hyperinflate it away. And so this third option of a currency going back into sound money principles, which is what Judy Shelton has been talking about for years, this is one of the potential things that is gonna happen next year, right? And so if we're going down the line that we think we are, where gold is gonna be repriced to some higher level than it is now, one of the reasons that we're seeing a massive increase in the price of gold this year is because everybody's noticing, everybody's gotten told, and they're running out of like the below ground supply or the supply that is the easy, the lowest hanging fruit has already been bought. So now they're going into, well, what's available? Give me what you got, you give me what you got. (55:56 - 56:20) And like I said earlier, I've had clients tell me, hey, I can't get any, like I went to my local shop, I can't get any, right? This is one of the reasons that people call us, hey, do you got any gold and silver? Well, yes, we do. So you can still call us for gold and silver for now. But the reason I'm bringing all this up is that whatever happens next, right? Good, bad, ugly, or otherwise, gold and silver is going to be a very important part of life. (56:20 - 56:43) It's just going to be very important, right? You want to make sure that you have a portion of your portfolio, 10, 20, 30, 40, 50%, whatever the number is. Like there's some people that have put their entire life savings in with us because they're like, I know what's happening, I feel confident about this, I just want to be safe, and I see my net worth draining away with inflation and the devaluation of the currency and all this sort of stuff. I just want to be safe, and I know gold is safe. (56:44 - 56:50) That's the idea that should be in everybody's head. Gold, safety. Silver, more speculative, but more upside. (56:50 - 57:44) But we're talking about, like I've been mentioning, a sea change in how everything functions, how everything interacts, and the powers that be are making moves, right? If somebody comes to you and says, hey, do what I tell you, but I'm going to do something different, do you really going to believe them? But if they come to you and say, hey, you should do what I'm doing because this is what I'm doing and this is why, well, there's a lot more trust there. Like I'm going to be buying as much precious metals as I can possibly do right now because of all the things that are happening right now because it's become abundantly clear that the time is running out, right? There are certain points in a bull run where it's not as good to buy because you're so far from where you were that you could be at the peak, right? And this happened in 1929, right? If you bought at the top of the stock market in 1929, it took 20 years for you to get back to even, and then you'll get into profit again if you didn't sell. And a lot of people did sell. (57:44 - 57:59) Yeah. Right, can I interject? Can I interject? It took you 65 years to get back into your purchasing power. Yes, in dollar value, it took 20 years for the market to get back, but because of inflation, you really didn't get back for 65 years. (57:59 - 58:28) Correct, exactly. And so inflation is a hidden tax, right? And one of the ways, one of the few ways that you can avoid this, and this is why hypernet, super high net worth individuals, nation states are doing this, is because they know, and this is why the reason that we have inflation, right? Because if you have a whole bunch of debt that is created, you want a little bit of inflation so that next year, it's actually cheaper for you because you're the one issuing the debt because you want to pay that debt off supposedly. But even if you, whatever, let's not go down that rabbit hole. (58:28 - 59:20) But anyways, the point that I'm making is that the opportunity and the positioning of everybody's portfolio, now everybody should be questioning, how am I positioned? Like, what is my portfolio? So when you talk to Adrian about what your portfolio is, you're going to ask, how much am I in bonds? How much am I in equities and alternatives and real estate and gold and silver, right? These are all percentages, right? And one of the ideas in times past is that you had a percentage of your portfolio into precious metals to make sure that if everything else got wiped out, gold and silver would be going up because that's what happens when everything gets wiped out, right? So no matter what happens, good, bad, ugly, or otherwise, you're going to be okay. And now we're to the situation as Adrian has been overviewing, that gold and silver are going to be such an important factor in your portfolio. It should be much higher than 10 or 20%, we feel. (59:21 - 59:25) Now, you can make your discretion. This is not financial advice. Talk to Adrian if you want financial advice. (59:26 - 59:50) But when you see all of these things, happening around the world, right? And you look and say, well, what's going to happen to me and my family? How do I protect myself? Where am I going to go? What am I going to do? These are very important questions. There's a lot of people that you're talking about your life savings, right? And if people have registered accounts, they're locked in with the government, you only have so many options. We're lucky that we can work with Questrade to help people back up their savings with precious metals if they're in registered accounts. (59:50 - 1:00:10) But it's much better that you have access to the capital. And one of the things that we offer that's kind of unique is that you can loan against your holdings and capitalise. So if you need to get fiat currency at any time in the future, at any time, you can be like, yeah, we'll give you money for that at will and at call, which you can't really do with a lot of investments, as Adrian will tell you. (1:00:11 - 1:00:25) And so the kind of thing that I'm trying to get across here is the sound money principles that they're talking about. Whatever is coming next is going to happen soon, right? Because they're talking about it, doing whatever this is next year. They've been doing in the background. (1:00:26 - 1:00:53) So like there's FedNow, which is a digital currency infrastructure system. They rolled that out last year. There's been other instances all across the world, like so China, the Shanghai Cooperative Organisation using the Shanghai Gold Exchange to make a settlement currency that settles in gold or a settlement structure that settles in gold is a sea change, right? There's massive changes happening. (1:00:53 - 1:01:09) And so the people that are wise to this game that have been on the fence about this, well, you've got all the world, the reasoning and evidence at your fingertips now to be like, hey, there's a change to be made. And other people are doing this. Other advanced investors. (1:01:09 - 1:01:37) And now when you have like Morgan Stanley talking about this, that came out last month and gold is up 10% from the time of that article. And so where does the top, where is the top? We're not really trying to think about, maybe I shouldn't say that. I think the important factor to think about right now is how are you going to preserve what you have, right? People that are older, people that are retiring, people that are still trying to build their wealth like me. (1:01:37 - 1:01:55) I'm still trying to build my wealth, but I also don't want to get wiped out. Like I don't, I look at the economy right now and I don't see a lot of light at the end of the tunnel. I see a lot of problems, right? And so if there's one thing that I can see that it's big light, big like beaming spotlight of amazing here, invest over here, which is gold and silver. (1:01:55 - 1:02:24) Well, why would, why would I do anything else at this point with all of this uncertainty, right? Why would I do anything else when it is so clear from the Bank of International Settlements, the central banks to the commercial banks, to Donald Trump, to China, to nation states, India, South Korea, literally everybody on the planet that is close to the knowledge about how the economy functions are all saying now gold and silver is where I got to put some of my money. So I don't want to put my money anywhere else. And so there's this old saying that you put your money where your mouth is. (1:02:24 - 1:02:38) I'm going to buy a whole bunch of gold and silver at the end of this month when I get paid, because I get paid once a month. So I think it's really important for everybody, especially if you are holding on to property that you don't want to lose. Well, you should put some money into gold and silver just in case. (1:02:39 - 1:02:51) Right. And this is kind of one of the big things that happens in times like this is there's movement of money from one asset class to another. So Rick Rule, as I mentioned before, he comes from the banking industry. (1:02:51 - 1:03:05) Right. And so the way that he looks at investment from for what he said publicly, and I've talked to him a couple of times now as well. He basically says that I look at things that are undervalued and then I sell them at fair or overvalued and move that money into something else. (1:03:05 - 1:03:09) Sometimes that's businesses. Sometimes that's commodities. Sometimes that's mining. (1:03:09 - 1:03:20) Sometimes that's real estate. Sometimes that's whatever. But you have to look at every asset class and every vertical and every investment that you make as what is good, fair or over or undervalue for this particular asset. (1:03:20 - 1:03:38) Right. And so right now and for many years previous to right now, we've seen an undervalue of gold relative to the amount of demand and relative to the amount of supply. And so if we're looking for what is fair value for gold and very value for silver, well, we don't really know yet, but it's definitely not overvalued because everybody's buying everything that they get their hands on. (1:03:39 - 1:03:58) So it's definitely not overvalued yet. And so when we actually see the peak of that market, as I showed with that graph, it could be significantly higher than what it is now. But we're not going to know until we really hit that inflexion point of there's no more supply because that's when the bids come off to the OK, I'll give you whatever for that. (1:03:59 - 1:04:15) And if the article that I that I showed earlier is true and China is actually offering, you know, 130 dollars almost for an ounce of silver, which is just ludicrous. If that's if that's happening this week, you know, we could wake up where silver is a triple digit and it's doubled in price overnight. That is not impossible. (1:04:15 - 1:04:24) Whereas if you would ask me this a month ago, two months ago, five months and six months ago. Yeah, I would say there's no way that would happen. That's way beyond the pale. (1:04:24 - 1:04:46) But now because of all of the the increasingly volatile things that are happening in the economy. Well, we're seeing a lot of movement into one of the most one of the most reliable, oldest, safest assets possible. Everybody that is in finance that knows history of finance to some degree, because there's other people that kind of ignore this. (1:04:46 - 1:04:59) But the people that are honest with history, there's times to get in and there's time to get out. Like one of one of the ideas of investing and Adrian will probably reiterate this, too, is you have to know when to fold them. Yeah, like it's OK to get in. (1:04:59 - 1:05:06) But you have to know when to get out, too. Right. And I think one of the times that we're living in right now is it's time to get into gold. (1:05:06 - 1:05:25) And it's not a time to get out. That's what I saw in 2000 when I saw the tech.com bubbles being nothing but a hype sham went into real assets. At the time, I didn't have access to precious metals directly, but I bought into pools, mutual funds that were precious metals. (1:05:26 - 1:05:38) And that turned out to be a very, very good trade. Saw the same thing happen in 2008 when the real estate market was in a massive bubble. I saw that, I called it, moved all my clients out of stocks into bonds. (1:05:39 - 1:05:54) And, you know, my clients did very, very well. So there are times to fold them. And what I'm seeing is you need to start putting up more gold and more silver in your portfolio as protection. (1:05:54 - 1:06:05) I'm not saying get out of stocks, get out of bonds, or get out of real estate and go 100% into gold. But I'm starting to push a higher weighting into precious metals as an overall diversified portfolio. Right. (1:06:05 - 1:06:35) Just to finish out this part two, gentlemen, I want to add my own comment because I've thought of a way of better expressing what I was talking about earlier when I was talking about electronic funds, digital currencies, as a basically a fiat currency which had no inherent value as opposed to gold and the shortage of gold and how that's going to drive prices up because there's only just so much of it. I think the other way to look at it is to put it the other way around. The value of those digital currencies can evaporate overnight because it has no real value. (1:06:35 - 1:06:48) It's just numbers in a computer. Nobody is ever, we've been mining gold and silver now and building up that inventory of gold and silver. Nobody's ever going to take it and put it back in the ground. (1:06:50 - 1:07:04) It can't disappear. And so that makes it the most stable investment because it's not going anywhere. There's a great saying with real estate that buy real estate because God's not making it anymore. (1:07:05 - 1:07:09) Well, same thing applies. Even more so. Yeah. (1:07:09 - 1:07:28) Because you're still building houses, you're still building condos, you're still building things on that real estate. So there is a sort of change in value of that asset, whereas gold is gold. Yeah, you can make a ring out of it and charge more for it because it's a nice, beautiful ring, but it's the raw asset that is fixed. (1:07:29 - 1:07:51) But if we do see, as I believe we're going to, a major population crash in the coming decades. Oh, there are. And I don't know whether they're legit, but there are a number of videos coming out of China now talking about massive... And cities are getting empty, that the amount of population, there is, you know, the one child policy, they're not replacing themselves. (1:07:51 - 1:08:02) So the population is shrinking dramatically. And once super busy cities are empty, airports are relatively empty. So there's something going on in China that we're not being told. (1:08:03 - 1:08:12) But I think it's going to happen globally. We're going to see this major population crash. And when it does, the value of real estate has to crash with it because supply and demand. (1:08:13 - 1:08:19) And I'm going to address that in the next segment on why 2030? Why that's such a hard deadline.