00:00:00.000you cannot hold it you don't own it central banks have been buying gold like crazy value
00:00:08.400your wealth in ounces versus depreciating currencies welcome to the real money show
00:00:18.240my name is jeremy wiseman as always i'm joined by jerry karaya how are you doing jerry very good
00:00:23.280jeremy how are you i'm doing i'm doing very very well through the summer already that summer's
00:00:27.600already moving very, very quickly. It's great to be back here at Rebel News. And we want to try to
00:00:34.740just talk a lot more bigger picture, but there's some other information about a recent executive
00:00:43.840order that we want to get into and how that could relate to the US debt as it's fast approaching
00:00:50.08040 trillion and what it can mean for trying to pay back the debt. But Jerry, look, we see
00:00:57.580gold has had a really good run in the last year silver's had a great run in the last year a lot
00:01:04.420of people are concerned because it it really moved quickly at the beginning of this year and has
00:01:10.560pulled back and there's a lot of questions about where it's going to go from here and i think
00:01:14.700ultimately we want to look at the big big picture because all the fundamentals are in play for much
00:01:20.480higher prices and i think that when we start to connect the dots of all of the developments around
00:01:26.080the world, you start to get very excited about where the market's headed. And for me, you look
00:01:31.480back on the beginning of the year, and it felt like great proof of concept. You know it can get
00:01:36.780there, but you want it to get there in a bit of a more controlled manner, right? So speaking of
00:01:43.540connecting some development dots, why don't we start there? There's some great new stuff that's
00:01:49.100developed i think the biggest one is we're recording today on the 23rd and tomorrow in
00:01:56.020china is supposed to be a big day i don't know if it's going to affect the market so much
00:02:00.620but it is supposed to be a big day for the metals market tell us a little bit about that
00:02:04.860so china officially is come uh officially coming up uh july 24th is officially through the shanghai
00:02:11.500gold exchange uh eliminating paper gold trading now this is very significant for the precious
00:02:17.760metals industry and sectors and exchanges around the world, especially when it comes down to
00:02:23.860pricing, because elimination of paper means elimination of a lot of supply. And remember
00:02:29.580that China's market is the number one gold producer as well as markets. And they're obviously
00:02:36.480a part of the BRICS nation. So we're seeing a lot of changes happening with the BRICS revolving
00:02:42.540around pricing and this is expanding the pricing away from the hegemony and the the pinpointed
00:02:48.780control of just london in new york two places that do no mining whatsoever uh relenting this
00:02:54.900this control or having to share or compete with different prices so when we talk about paper what
00:03:01.640would that be that would be the fictitious ounces we know that those are just fractional there are
00:03:07.500so many x amount of paper ounces for one ounce available approximately 100 gold ounces in paper
00:03:14.420form versus one physical ounce available and for silver it's about 400 to one 400 paper versus for
00:03:21.020every one ounce so that's fractional metals and we also have to focus in at home fractional reserve
00:03:27.880currencies and fractional reserve banking that's a big issue so this is a huge um a turning point
00:03:34.180or a huge development as india has announced some new rails we're using that term a lot
00:03:39.160rails and bridges that all come all um i guess complement the competition in pricing not just
00:03:47.780in the u.s but internationally and eventually all come into common ground because as gresham's law
00:03:53.600states the good money or the good pricing will eventually chase out or deem irrelevant the bad
00:04:00.100Yeah, I think there's two elements to this story in China. The first is that I like the idea that what the government is trying to say is this isn't an investment. This is an asset. An investment has counterparty risk. An investment you're counting on that counterparty to do a beneficial job for you. Things can go sideways very quickly. Gold has never dropped to zero. Silver's never dropped to zero.
00:04:28.780Although silver, I don't know what they're doing with the paper trading there.
00:04:32.660But the idea of holding an asset versus an investment, I think this is highlighting that.
00:04:39.500On the other side, and we can get into that a little bit more, the idea of investment versus asset, because that's a big, big part of it.
00:04:56.280The other part of it, very quick, is that, and you mentioned it briefly, is the competition. I think competition is a very good thing. It's going to either force other exchanges and platforms like the COMEX into being more transparent.
00:05:17.020Or they run the risk of becoming irrelevant.
00:05:20.020Because as you said with Gresham's Law, the idea is going to be, well, if I can get better pricing and I know that they have the product, I'm going to move over there.
00:05:27.480I don't need to deal with the distortions being caused by paper.
00:05:30.680Absolutely. And this is a big development because if we look to China, they've been in the news for a few other headlines this week through Goldman Sachs revealing that China exceeded the amount of gold acquisition that they were reporting about by five times.
00:05:47.260So this is very important to understand what they're acquiring. They're acquiring something that they call high quality liquid assets and talking about, you know, paper and investments and financialization. This is a transition away from the old economy of over financialization over to an asset based economy, an asset built economy.
00:06:08.880And as we see China accumulating assets, their assets are being accumulated in ounces as opposed to financials denominated in depreciating currency.
00:06:19.980That has to be the trend going forward that currencies will be continued to become devalued as time progresses.
00:06:27.080And this is also in line with the Genius Act failing to come out with the rules as to what collateral is and what is going to back these stable coins.
00:06:40.140As we see, there is a common denominator here of assets, monetary assets, collateral, and backing things up.
00:06:46.880These rules are very important because they tie in and it will eventually tie into a trend that we will continue to follow and share about the U.S. Treasury and their debts.
00:06:55.260Yeah, I think backing assets and understanding assets. We see banks, central banks are acquiring gold. It's a high quality liquid asset. They're accumulating assets, not investments. And the idea is that when there's uncertainty, gold provides that certainty. And the central banks are looking for that certainty.
00:07:14.440And it feels like whatever your worldview is, and we don't know specifically what the worldview of these central banks are, that gold is going to win on either direction.
00:07:26.020If you think it's going to hell in a handbasket, you want to have physical gold.
00:07:30.060It provides certainty when there is no certainty.
00:07:33.040And maybe it feels for some people that things are way too up in the air or the changing of the tide, the fourth turning or whatever it is.
00:07:42.040I want to own physical assets like gold to protect against that and keep me sheltered from that storm.
00:07:48.840Or it's are we moving towards a potential financial system where there is more transparency, there is more balance?
00:07:58.900I would put bringing industrialization back to North America as part of that, balancing the tide.
00:08:05.720And if there's going to be something like that, and this is a segue by the way, then how do you handle the debts? How do you get to a place where the playing field is level? And I feel that when you're looking at all these developments, even the fact that China's implementing this and just built an exchange or a platform, a trading platform that was tested in Hong Kong recently, backed by Shanghai, backed by the government and other major banks.
00:08:35.720as part of that competition but you don't build these things if you think the price is going to
00:08:42.860zero absolutely or if you think the price is going nowhere there's any risk there's no point to do it
00:08:47.900if you don't see a future in it the fact that they see a future in it says this thing's only
00:08:53.800getting started i think like what we saw in january is an example to come back to biggest
00:08:58.560head fake i think many people are going to realize in three four years that this was the beginning
00:09:04.940not the end no yes getting back to the debts though because that was my segue um we're there
00:09:12.360we're seg'd so how does the u.s handle the debts you want to get to a place where no one's cheating
00:09:18.540etc etc so we have an executive order here because the why are we talking about this because
00:09:25.560the assumption is that the way to get rid of the debt is you're going to print your way out of it
00:09:30.520Or you're going to inflate your way out of it. And, you know, building up the economy might mitigate that a little bit. Lowering energy prices may mitigate that a little bit so that the everyday person isn't feeling it as bad. But you're still going to pay it back with dollars that are worth less.
00:09:49.040So that's the key for whatever you hear day to day. Like what were you saying in the office about yesterday the chances of a rate hike were like 10% and now they're 9%. What is it?
00:10:05.240Yeah. So just very quickly, last week, the US CPI inflation data came out lower than expected, actually the lowest in six years, shocking everybody. So the odds of a rate hike dropped to about 8%, some say 8%, some say 12%. I'm going to say 12% the chances of a rate hike. That was about seven days ago, the 14th. It's the 23rd today.
00:10:27.920And then today, there was a bomb. So the Houthis struck the Saudis, and then oil went briefly over $100. So we're being whipsawed. And now the chances of a rate hike has jumped from 12% up to 80%. So Canadians, trade investors, savers, we don't know where to go.
00:10:46.820We are all being tossed to and fro with expectations. And the takeaway, I guess, is we cannot be confused by these probabilities and these futile predictions. We look at the trends like the Chinese and what's being built in the US and these executive orders. These are trends that are very relevant and they do tie into us here at home.
00:11:08.300It gives us solace and it helps us to neutralize all of these noise events and helps us to neutralize them with the neutral asset like gold and silver.
00:11:19.140Right, which is funny because we're about to jump into some speculation.
00:11:27.540No, but the reason is because when you think about these debts, how are you going to get rid of it?
00:11:31.220You're either going to write it off as complete losses or you're going to inflate it away and grow, but you're not going to grow your way out of that.
00:11:40.320So talk to us about this executive order so we can get to work here.
00:11:44.220Yeah. So there was an executive order signed by Donald Trump back last year. It was March 2025, the executive order on fraud. The U.S. Treasury screened since then more than 885 million payments, total $2.77 trillion, and that's in one year.
00:12:02.060So that was the government accountability offices. They found that approximately $500 billion of taxpayers' money were being lost annually. So every single presidential term, that's four years. So we could do the math. This is trillions of dollars on our backs, based off of the backs of the taxpayers or the depositors' money.
00:12:22.520Remember, every time you deposit funds here in Canada into the bank account, the government can use a fraction of your deposits as their collateral to fund whatever they would like to fund.
00:12:33.500Did you hear about them lowering that fraction, by the way?
00:12:36.540It's actually zero in the States, and it's some type of low.
00:12:40.960I thought it was like 15% here or something, and they're lowering it now.
00:12:43.600That was way – it's been lowered, a lot lower than that.
00:12:46.420But a lot of that stuff went to Medicaid. A lot of the stuff went to PPP loan activity, government contract, home health care, hospice, health care fund, but you name it. They're creating these offices that are supposed to steward wealth for the betterment of society, but it's actually feeding and lining their pockets.
00:13:05.620It's a lot of money laundering, and we don't know where the money is, but this executive order is going down those rabbit holes to find out what money was illegal, and approximately 4,000 payments amounting to $100 million were impounded, so they blocked.
00:13:25.580That is something that the U.S. president had the power with the U.S. Constitution to block payments.
00:13:32.020If he found Congress slated taxpayer funds to go to fund something unethical or something that is not in the best interest of the U.S., he has the power to block the payments.
00:13:45.320He actually said he was going to do that back in 2015.
00:13:48.460And the fact that he's doing it now, it's definitely speaking volumes to me.
00:13:53.380but this is moving towards oversight following where the money went and it does bleed into
00:14:00.180canada you know when you're using things like fraud when you're using things like terrorism
00:14:04.480and these big words that are give a country jurisdiction to go and check out banking records
00:14:11.380anywhere this can bring a lot of things into let's stay with the debt you know i'm speculating
00:14:15.900let's stay with the debt so so this was really interesting to us because you you start to look
00:14:21.840at this and you're seeing in the states, they are going after fraud. First, there was Doge and
00:14:26.580they're going after, you see the stuff in Minnesota, California, you see that they are
00:14:33.020going after fraud. So here's the question. If the fraud amounts to, and you see them stopping
00:14:39.180payments to different states, but if the fraud is starting to amount up to trillions, do you think
00:14:45.100that there's a potential here where they could effectively, in a way, write off a punch of the
00:14:52.460debt to say, look, we're not going to pay interest on trillions of dollars that we just discovered
00:14:57.340were fraudulent. I think that's the case. A lot of Canadians and a lot of gold and silver advocates
00:15:02.840thought that July 4th, we were going to see the Independence Day gold-backed gold standard being
00:15:10.440re-implemented or re-instituted or unsuspended but looking at the debts and understanding what's
00:15:17.520happening i find it very they do have the ability to wipe out the debt to answer the question they
00:15:22.180do have that ability um to erase the debt but gold being honest money being divisible durable
00:15:30.200recognizable scarce and and and intrinsic these are these are the these are the facets or what
00:15:39.100Aristotle says these are five tenets of what makes money. It's honest money. Honest money
00:15:43.900cannot and should not back dishonest, unlawful debts. So we have to figure out what debts
00:15:50.460should not be on the backs of the taxpayers' dollars. Is it $39 trillion? Because right now,
00:15:55.060the US federal debt totals $39.4 trillion. We just blasted through 39. US annual interest expense
00:16:02.000on that debt reached a record of $1.35 trillion. I just want to interrupt you there because what
00:16:06.980you said there was important you're you're you're alluding to if you want to get to a new system
00:16:14.180that could be backed by gold and we're looking at you know tether backing their coins with stable
00:16:20.060coin with with gold um acquiring a lot of gold in in their portfolio um that to get to that level
00:16:28.480you need to make sure that you're not paying through you're not paying fraudulent payments
00:16:34.660still. In other words, you want to start with a clean slate. When we were first discussing this
00:16:39.700topic, though, we were asking ourselves, what does this mean for the price of gold?
00:16:46.720Let's say they found $5 trillion in fraud that they could effectively wipe out and say,
00:16:53.860well, we're not going to pay interest on that. You're still at $35 trillion. It's not like
00:16:58.400they're going to find half of it's gone right very true so where does the price of gold go in that
00:17:05.240in that system so be prior to the gold price suspension in 1971 the u.s was was one of the
00:17:12.880most prosperous nations between 1940 to 1971 whatever the debt was x amount of that debt
00:17:19.100which is x 30 of that debt had to be gold knowing that the debt now is 39 trillion gold only
00:17:26.380represents three percent of the 39 trillion so we could just do math right because scott besant said
00:17:31.620they have a trillion worth of gold they have a trillion worth of gold with a chuckle is it there
00:17:37.680is it not it's there to speculate but if they do have a trillion dollars worth of gold there is a
00:17:43.120way through the treasury with their gold revaluation account to actually revalue the gold but if you
00:17:49.140can erase five trillion as you said of gold or 10 trillion or is it 20 trillion we know what number
00:17:54.320we have to revalue to. So if we have to revalue to match 30% of $39 trillion in debt, we have to
00:18:00.620multiply that gold price, which is now up to 10 times. So $40,000 gold price, do we have to go
00:18:07.700there or just a 20% like your down payment for a house? What we're talking about here is collateral.
00:18:13.860This is an asset, a monetary asset that has to be brought back into the fray. And it will be
00:18:19.000In other words, it removes crazy prices expectations. So when you hear people talking about $40,000 gold, well, if you erase a lot of the fraud, maybe you're not having to revalue it that much higher.
00:18:37.000What about deflation? What if they manage to get the debt under control? What if they lower interest rates for six months, get it down to 1%, readjust all the interest payments, lock those in, get the economy going, lower energy prices, everything starts to cook?
00:18:57.680What would happen if you started to experience deflation?
00:19:01.500Or is that pretty much off the table when you do have this amount of debt and there's no clear way out of it?
00:20:56.400Because it's about who loses least. And when something is naturally finite, you can make
00:21:03.980houses. You can only add to the gold supply by about, what is it, 1.75% a year, which is
00:21:12.380interesting. That would be a great inflationary number.
00:21:14.420But at the end of the day, having an asset and building wealth is much different than investments. And in our opinion, it's important to have an insurance policy. If you have life insurance, you have car insurance, you have home insurance, and all of these things, you hope it doesn't pay off.
00:21:38.020You hope it doesn't pay out. You hope you don't need it. And you know what? I have a lot of gold. I hope I never have to sell it. I really do. I hope I don't have to sell it. And I've always thought that the only reason I would sell it is because it's either a really desperate thing, like you really need the money, or it's a really positive thing. Something great is happening and this is worth taking that shot with.
00:21:59.880But generally speaking, I find that personally, and I hope if I could give anyone a takeaway, is that buying gold, if it's just one ounce, should feel really good to be adding wealth to your portfolio.
00:22:17.500It's not about I'm buying gold because I hope it goes to 8,000 or I hope it goes to 10 or 40, whatever.
00:22:24.620It's about I'm building wealth for the future.
00:22:28.400it's been around for 2 000 years it's going to be here for another 2 000 years it's something you
00:22:34.380can pass on through generation and that they can appreciate it and maybe fondly yeah hey my dad
00:22:40.640gave me this my mom gave me this you know we have clients who speak about products that they received
00:22:46.300or their experiences with gold and silver through their parents and it's always like the best phone
00:22:51.820calls we have you know when you you say yes you you got an education through it as well and i know
00:22:57.700for for myself again with with my son giving gold has been the best and i remember we gave an ounce
00:23:05.340uh sorry not an ounce it was a 10 gram bar to his cousin when she was born man that's that's gone up
00:23:12.180nicely we didn't do an investment we didn't give cash would have been worthless yeah okay it would
00:23:16.560have been spent. Oh, maybe put it into an RESP, which is great. Don't get me wrong. We have gold
00:23:22.820in the RESP too. You can do that as well. I just think you're building wealth, not thinking about
00:23:29.300the investment and building wealth over time in a world where gold has gone up over 700% in the
00:23:36.140last 20 years. Now, it's not really gone up. What's happened is that the Canadian dollar
00:23:39.900has fallen against gold gold does nothing i think that in this current economy i don't see a
00:23:48.340situation where all of a sudden the dollar gets stronger and so i think right now you have two
00:23:54.640major reasons to be holding it yes building wealth and hedging yep uncertainty and the
00:24:01.460collapse of the dollar and that's and i'll keep going but i'll stop that's the certainty and
00:24:06.040That's what we have seen over the past 15 to 20 years is that all the major currencies are declining versus the purchasing power or the power of gold.
00:24:14.880All currencies are losing their purchasing power and will continue to dwindle because the average fiat currency lasts for about 50 to 70 years.
00:24:23.220And that term fiat is Latin for let it be so.
00:24:25.780This power of your paper currency gets its power or influence because of decree.
00:24:33.140I say it's worth $10 because I say so.
00:24:36.040But that doesn't last. It never lasts throughout the years. And it's our duty and our honor to help people like yourselves to convert out of paper currencies, especially for the RESPs, for the kids, for generational wealth builders, to get out of fiat currency and into something tangible, something that institutional wealth is moving heavily into physical precious metals.
00:24:57.420central banks continue to buy the world gold council surveys 90 of these institutions smart
00:25:04.880money central banks and institutions why are you buying why are you holding gold they're buying it
00:25:09.840for crisis protection currency protection and a long-term store of value if these are things that
00:25:14.760you're looking for finding it in and financials and things that are denominated your stocks your
00:25:21.280REIT portfolio, your paper ETF instruments, they're all denominated in paper currencies.
00:25:28.000And this is how we secure wealth in uncertain times. You want to be able to know that it's
00:25:33.000there. And as Mark Twain once said, people are more concerned about the return of their money
00:25:38.060than the return on their money. And with gold and silver, you're going to get both because
00:25:41.520going back to the top of the show, going back to January, it was speculation that drove up the
00:25:46.260markets gold and silver to all-time highs we will head there and when things get so uncertain and we
00:25:51.720get the phone calls to field and it's our honor to do that as well pick up the phone we'll spend
00:25:55.900half an hour to 45 minutes with you to determine to clarify your why why did you why do we own
00:26:02.440physical gold and silver outside the digital banking system is this still the right place
00:26:07.520for us we'll we'll connect the dots and take a zoom out it's very important to take a macro
00:26:13.420picture of the super cycles and we are still jeremy within the third major super cycle going
00:26:20.540back 50 years precious metals both gold and silver have experienced two from 1970 to 1980
00:26:26.840and from 2000 to 2010 both average gold 1400 percent and silver 2200 percent average in those
00:26:35.600first two cycles that lasted 10 years each the third cycle that we are currently in began in
00:26:41.0202016. So we still have a few months, maybe a year before we see the culmination of the next
00:26:47.120third cycle that we are currently in. But during those first two cycles in 70 and in 2000s,
00:26:54.080we did have 50% pullbacks, which is what we just went through. So when we know these cycles that
00:27:00.860do happen, it's a healthy flush out. We're flushing away all the excess speculative paper
00:27:06.640margin fractions that created artificial supply and speculation we're cleansing that out and
00:27:13.700we're regrouped we are resetting and repositioning for a mighty move in the market because what's
00:27:20.360holding gold and silver back is futile iran and interest rates two things that we just talked
00:27:25.880about last week they had a the the fed funds uh tool of fed rate hikes had the chances of a rate
00:27:34.840hike at 12 that was eight days ago a week later now it's 80 we're being whipsawed left and right
00:27:41.840this is how the market's been moving sideways over the past seven months held back by oil in
00:27:47.180iran when these things move to the sideline and we move away from oil dependency on the u.s and
00:27:52.880moving away from oil markets having power over the monetary policy goodness and and war having
00:27:59.640a power over the monetary policy and going back to a neutral asset like gold, that's when you'll
00:28:05.560see the room that Warsh has to take for his promises of bringing rates down. That was his
00:28:12.740job, bringing credibility back to the dollar and prices will stabilize. So rest assured, we are in
00:28:19.100a sure asset, a certain asset class and where the smart money is definitely piling and you don't
00:28:24.780want to miss what is to come because I'm super excited for those who are hanging on. If you have
00:28:29.200to sell, you have to sell. And unfortunately, in Canada, people are broke, you know, retail is
00:28:34.180slowing down. And in Canada, we have to find the few exits. And this is one definitely one exit
00:28:39.220you do have to take advantage of. So what we do at Guildhall is we help people to hold physical
00:28:44.700assets to accumulate those assets. And one of the ways that we work with clients is to hold it in
00:28:50.740registered accounts. So in the registered account, clients can hold it directly. It's fully allocated
00:28:56.940and segregated. So it's held in a vault facility outside the banking system. Clients have access
00:29:02.360to go and personally audit their holdings. So it goes with our motto, if you can't hold it,
00:29:07.120you don't own it. And so you can go and test that system. If you want it to deregister,
00:29:12.220so maybe there might be withholding taxes applied, etc. But you can take delivery of
00:29:17.660the product as well. If you decided, you know what, in this situation, it works for me,
00:29:22.140i can take the product at this point so we walk you through it we'll help you through it we can
00:29:27.980talk all different strategies as well uh we've been in the business i've been in the business
00:29:32.040for over 20 years jerry's been in for close to that as well so if you want to get involved in
00:29:37.380holding physical gold in your portfolio we didn't get to too much silver today we'll get to that the
00:29:43.620next time on the real money show but we want to thank you for joining us and we can't wait to
00:29:47.620speak to you soon here on The Real Money Show.
00:29:57.700Catch The Real Money Show here on Rebel News, Saturdays at 1 p.m. If you've missed an episode,
00:30:02.960you can also catch The Real Money Show on our YouTube channel at Guildhall Wealth or follow
00:30:07.660us on Spotify and follow us on Twitter as well. The number again, 1-877-8-SILVER, the website,
00:30:14.820guildhallwealth.com learn how to have physical gold and silver in your portfolio and we look