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The Real Money Show
China Silver Surge : Signals More To Come
Welcome to the Real Money Show, the number 18778 Silver, the website, guildhallwealth.com. Thank you so much for joining us today. My name is Jeremy Wiseman. I'm joined by colleague Nick Bataligan, and Jerry's away this week, feeling a little under the weather, which is something that's happening a lot right now at this season. But Nick, we've got a lot going on in the gold and silver market. Specifically, Central Bank buying. Is it over? I don't think so. I don't think so. Think again. There's going to be a lot of information on that today. I also want to get into Scott Besant. This is Trump's latest pick for Treasury Secretary, and there's a lot of back and forth in the in the ex sphere. And just amongst analysts, is he a is he a deep state shill, or is he a deep state disruptor? We're going to we're going to look into Scott Besant. Also, another great article that we came across is Sound Money in America. Could it happen? One state is proposing gold and silver backed currency. And of course, later on in the show, I want to try to get to some natural fancy color diamond segment why this may be the best time to buy. But first, Nick, as you know, last week, Goldman Sachs and Bank of America were both forecasting for gold to get to $3,000 next year. And interestingly, one of the first times that we've heard about this from any major bank since the entire time that I've been working here is Bank of America also forecast that the gold silver ratio would fall. What did you make of that when you first heard that? Yeah, I mean, typically speaking, major banks, news, they don't want to broadcast gold. They don't want to broadcast silver. They want to keep it hidden, right? So for these big banks to come out and start making their predictions, their projections and why not, it's definitely a good thing for gold. But I mean, lowering that gold to silver ratio, that's good news for silver. It's huge news for silver. And of course, you know, this past week, we saw a pullback in gold starting last Friday. It's mostly, according to the gold analysts, it's mostly having to do with covering the short positions for the December contract, which expires December 24th. And so there's been this big pullback to get onto the right side of this trade because, you know, in a sort of nothing can stop what's coming. Everybody knows the gold in silver markets going to continue to rise. And if central banks, sorry, if banks are just simply saying, look, it's going to go to 3,000, they want to get onto the right side of the trade. So it's been a great opportunity for those who wanted to get in at lower prices. But in terms of this, this gold to silver ratio, you know, right now when you get pullbacks, that ratio tends to widen. So we're, we're up to 87 to one. But when, when Bank of America was discussing it, it was around 81. So if that ratio were to come down to 70 to one or 60 to one, you would see silver trading very close to $50 in short order. So I think that that's tremendous news for silver holders. And if you liked that, keep, keep listening because there's some really crazy stuff happening in the silver market, the number one, eight, seven, seven, eight silver, the website guildhallwealth.com. And if you want to hold physical gold and silver in a registered account, this may be a perfect time to get involved because we have a new promotion. Get your free gold. That's right. We're going to offer a gram of gold for every $15,000 US invested up to 10 grams. Now each gram is worth about $100 and growing in value. I think it's doubled the since the first time we originally offered at this sort of promotion. But it's a great rebate. You get, we send it to you directly. So you'll have those grams, whether you want to keep them, hand them out as gifts. It's a great, great gift to receive as part of your gold and silver holdings. And I like the fact that it just sort of drum, just kind of emphasizes the fact that you've invested in real product. You've bought actual physical gold and silver in your registered account. So call us about that to hold physical gold and silver in your registered account, the number one, eight, seven, seven, seven, eight, silver and the website guildhallwealth.com. So one of the biggest pieces of news this week was Nick was that China put $1.5 billion investment into a deep water port in Peru. Now we all know that Peru is, I think, the largest producer of silver in the world. And maybe there's, maybe there's a connection there. Maybe there isn't, right? Except for the fact that 2,600 tons of silver concentrate was loaded onto a vessel at this new Peru port this Monday, and the shipment marks the first by Gensu logistics group from the Chaunce, the Chaunce Port and is among the earliest since the port became operational. So you've got to think that 2,600 tons of silver concentrate going from Peru to Shanghai is going to highlight some key reasons for investors to pay attention to the silver demand, at least the silver demand growing in China. Don't you think? Yeah, for sure. I mean, big things for silver are definitely coming. This is a big step. So we want to look at what, why are they buying silver? Why are they bypassing all of the regular markets to just go after actual physical silver straight from the mines? And you've got to be looking at the rising industrial demand, of course, the things that they're building there, electronics, solar panels, all sorts of manufacturing that goes on, and all of the things that silver is critical for economic growth. The other is this idea of supply chains. We saw this with COVID. They want to make it simpler for themselves. They don't want to depend on the product going through the regular channels and the delays that could happen there. So it's a huge investment. I mean, if you think about 1.5 billion, just so that you can get your hands on more silver, that is a great case for silver. And if you think about its strategic resource role beyond just industrial use, you're looking at it for the sustainable energy, all of the new technological innovations, and also its use as money. And I think that's really the key for the investment opportunity, which is it does signal a major growing demand, if not just on the industrial side. And I think that one can only take away that if there's a limited amount of silver and it's in deficit, by the way, less comes out of the ground than is used every year, that these moves by China can only signal that the demand is only going to continue to grow from here. Why wouldn't you want to be involved in that? Yeah, exactly. I mean, the less there is, the more money it costs, the more it's valuable. Yeah, and I think that being able to get it on the cheap is even better for them. And I just think for major investors and any investor in the silver market, if you're looking for a reason to hold silver, this would be a major one. You go, oh my gosh, they're taking this much delivery of physical product. And that's just one country. And by the way, you know, since also China doesn't export any silver, they'll only import it. And anything they refine, they're not exporting either. So they're keeping it. They're keeping it all. And so if the demand is just going to continue to grow from this industrial side, and this we're just talking about one country, it's only going to get harder and harder to get. And it's just a matter of time before the price absolutely explodes. So if you want to get involved in the silver market, you want to give us a call at one eight seven seven eight silver, the website guildhallwealth.com. And the best way to do that would be in a registered account where it's fully allocated. That means that you get the serial numbers of the bars that you purchased. And it's allocated in in the account. It's your own sub account at the vault. No one else can touch that product. There's no counterparty risk. It's like, it's it's literally like being your own central bank. And then you even have the ability to go and personally audit the holding. I've got a lot of lift accounts who are taking delivery of the product as part of their lift payments. And this just again, emphasizes the fact that this is what you can do when you have real money in your RSP, not to mention the fact that both gold and silver are up something like over 30% this year. They've had massive massive moves, even with the recent pullbacks. They're we're still majorly up on the year. And I think that that's an indicator for where we're headed going forward. In the next segment, we want to talk about some central bank buying. We also want to talk about sound money in America. Could it really happen? Well, there's one state that is proposing gold and silver backed currencies. And that is a very interesting article coming out of kickco. So we'll want to get to that as well. The number one eight seven seven eight silver, the website guildhallwealth.com more to come on the real money show on 640 Toronto. Welcome back to the real money show, the number one eight seven seven eight silver in the website guildhallwealth.com. I've got with me right now, Paul Wiseman, president of Guildhall Wealth. And we want to talk a little bit about natural fancy colored diamonds. But very quickly, first, Paul, I want to talk to you about the precious metals market just in terms of inventory availability. What are you seeing right now as the prices came down? Did product become more available all of a sudden? Yeah, this product out there. But what we're seeing is a shortage of, for example, 10 ounce RCM silver bars, always been in demand. People want them. There's not a lot around. We have them. Also, we have the Asahi 10 ounce silver bars. Great product. The one ounce is great. The 10 ounce. And I've just brought in the 100 ounce Asahi silver bar, which I love to death because it comes in a box packaged with bar number on it. Beautifully, beautiful product. They bought out Johnson Matthew. They also bought out all the equipment from Republic in Miami. And they're manufacturing an incredible product the same with the gold. I'm going to start bringing in the Asahi gold. The, you know, the name Asahi puts people off. I don't know why because it's a Japanese name, I guess. But it puts people off because in Canada, we know Royal Canadian Mint. Right. In anywhere in the world, everybody knows Swiss gold, silver, whether it's Pam, Falcambi. They know those products in the States. There's a lot of other mines. Asahi is a really good product. And we can bring this product in cheaper than whether we're selling RCM or whether we're selling PAM Silver bars on a dear silver bars. We can do a better price. Yeah. So it's one of these LBMA approved London Bullion Market Association brands that happens to be Japanese, also American and Canadian. It's a trilateral brand. And they also just happen to have lower premiums. And they're the design on the bars are also quite crisp. So they've done a great job with the bars. The look of the bars, you know, when I put it up against a hundred ounce bar against an RCM bar, I would pick the Asahi bar all the time. Are we going to be offering the hundred ounce Asahi bars in the registered accounts? Yeah, registered accounts. We're going to put those in. We've always had them in. But before that, they never used to put the bar number on. Right. And, you know, we made a lot of requests. And now they're putting bar numbers on. So which it suits us so we can put it into the depository. We can put it into the registered accounts. As I said, it comes in a beautiful package box, which is going to stop it from, you know, changing color because they do the silver definitely. It's eventually tarnishes because it's real. And of course, if you want to hold physical gold and physical silver. So if you want to buy the silver Asahi bars in your registered account, it'll it'll have a slightly lower premium to the Royal Canadian Mint or no? Yeah, I'll be eventually it's going to catch up because people are going to be jumping on it. But for now, if you wanted to save a little bit, you could go with it. You're going to save a little bit when you go with this product. Okay. So and again, you know, if you're going to put it in a registered account and you're putting in $15,000 for every $15,000 US, you're going to get a gram of gold. You beat me to the punch on Oh, okay. You know, but again, up to $150,000, if you have an RSP, this is, you know, we started this 10 years ago when gold was trading at $1,000. It's almost three times the price. So obviously, we used to give it away on $5,000 than $10,000. Now it's 15. I hope it's going to be a gram on 25,000. It will happen. And I'd like to see it happen. I mean, there's, I don't think there's a doubt that the prices are headed much, much higher. I have noticed, for example, this week when, in the last couple of weeks, when speaking to people, there's a lot of people out there who aren't quite sure where the price of the metals could be headed. And you know, all you have to do is look at the amount of debt out there and the amount of cash that's been printed. And you know that gold has to catch up to it because gold is a measuring tool. It's ounces. An ounce of gold in Canada is an ounce of gold in France. It's an ounce of gold in India and in Africa. And it's, what does this product buy you? And if it's not buying you what it should be buying you, either that thing is overvalued or gold is undervalued. And I would say right now when we're looking at stock markets, it's a bit of both. And if we're looking at real estate, it's probably a bit of both. With the selection of Trump to be president. I mean, you know, the stock market has gone silly. I mean, it's moved up. Crypto has moved up. You know, people are making money. What goes up comes down. And what has suffered in the last month is silver and gold. And it's not, let me give you an example. You know, things are tight. People's mortgages are coming due that, you know, they've dropped at maybe a half a percent, three quarters of a percent, which doesn't do anything for anybody. It's not going to help you. Actually, yeah, apparently, most people are waiting for a drop to three percent to start buying houses again. Yeah, I have a friend who's a trustee in bankruptcy. And he's been saying to me, you know, it's starting to get where people pull homes for, you know, a million five. And today, the homes are worth a million one or a million two forget the hype with the real estate. You know, when they say everything is going through the roof, interest rates are still high. You're still paying a lot of money. If you started off, you've got a six or seven percent mortgage. You know, you're in the hole. You rob him from Peter to pay Paul. Your credit cards are maxed. You line the credits max. It's tough. We normally see, you know, people bringing back product or selling product to us. It's been very quiet. We haven't been buying back, you know, one time last October, I remember a year ago, you know, millions of dollars with people were bringing back in gold and silver. I don't know what happened, but you know, people were selling today. The price of silver dropped down last week. Nobody brought back product. Yeah, it's paper. It was a little bit. It was a paper. I mean, in actual fact, people, the smart people were buying on a dip. But we've made available. I don't know whether we're going to talk about it. Our loaning on financial collateral, on physical, gold and silver, where we're lending money. We'll talk about that in the next segment. For now, you know, you're talking about things being overvalued, Paul. And when you think about, you know, 1987, there was a major crash savings and loan in 1999, the dot com bubble burst. In 2008, you had the subprime crisis. It seems like every decade, something is happening, and there's a major calamity in the markets. And it certainly feels like we're headed towards that right now. Although I have to give the mainstream credit and the central bank's credit, they've done a good job of tamping down the ability for people to understand what's going on with the plumbing of these systems. It's going to come out of nowhere. And one of the things that people can do to protect themselves against these sorts of crashes that are inevitable, they seem to happen every decade, is to hold an asset that doesn't care if those things happen. And one of those is a natural, fancy color diamond. Correct. And last month, I was fortunate enough to buy a parcel of some diamonds from somebody that was needed money desperately. And luxury items, luxury goods from COVID and just after COVID haven't popped back. They haven't come back like the markets have come back. You think, you know, with a stock market skyrocketing, people would be going out and saying, Oh, I want to buy diamonds and invest in diamonds. They haven't done that. But they've kind of held their own. And I think they're ready to break out. And I said, I bought a parcel. There's a mixture of different diamonds from a blue green, 0.25 to pinks, small pinks, half carat, 0.29s, 0.27s. I bought some yellows, 118 fancy vivid internally flawless, beautiful oval stone. You know, I think when it comes to the the pink diamond specifically, I've seen a couple of major second tier wholesale retailers, the prices on the Argos went absolutely crazy. They really sort of jacked up the prices in a way. And I guess that's a reflection of the fact that there's no more Argos to get. Well, let me tell you something. We went to three weeks ago, to a thing called ground crew, which is from one of our associates, they put on every year of wine tasting for over 100 different suppliers. But I have an auction for the Toronto General Hospital. They raise millions and millions of dollars this year. They raised all types of money. We donated actually one of our diamond rings, which went on auction at Tiffany's, the same ring was selling for $49,000. At auction, it actually sold at $30,000, which was still a really good price, especially when you think they're bidding it up. But normally, we would sell the same ring at $17,000 over to our regular customers. But for charity, people bid $30,000. So it was definitely worth $30,000. And again, at Tiffany's, it was $48,000, $49,000, with not a stone that wasn't as well cut, color, everything. But they can get away with that in retail stores. We're a second tier wholesaler. So you're not paying $50,000 for a stone that we sell for $20,000. Yeah. And I think that with regard to the color diamond market, you're right. You know, through COVID, everything's shut down, there's no need to wear jewelry. So, you know, the markets did definitely slowed down for several reasons. I think that right now, the market is sort of working as well, working its way through the lab-grown diamonds, because that whole thing blew itself out. You're going to see it's blown itself out. And that's going to get resolved quite soon as well. And so the market, you know, markets move beyond these things. And I think, you know, the 70s high inflation, you moved into the 80s, right? So after a recession, you're, you know, as things start to get better, as things improve for the middle class, I think you're going to start to see the color diamonds really get going again like they did between 2005 through 2014. And so I really think that right now is a great time to be getting involved because it's counterintuitive. Okay. What do you got? We're recording today Black Friday. Yeah. I want to make it a yellow Friday. Okay. I've got two incredible stones. One is a 1.12 carat fancy, intense yellow radiant car internally flawless, stunning. This stone we're selling, including sales tax for $24,000. And on top of that, we're giving you a set of diamond stud earrings. So the wife can wear the earrings or the girlfriend can wear the earrings and you can either take the diamond, make it into a ring or a pendant, or you can just put it away and hold on to it. We also have a little bigger stone. It's a 1.22 fancy, intense yellow is a cushion car. Beautiful stone color is incredible. Again, we're doing this one for $25,000. That's tax in sales tax in, including a set of beautiful diamond studs. And if you think about a setting on something like that is probably going to run you maybe between two and four thousand depending on what kind of diamonds you want to put into it and how much flash you want. You know, as an engagement ring or a 25 year anniversary or a 10 year anniversary, this is really going to be something special. First of all, you're going to always stand out with a yellow diamond versus a white diamond. And as well, you know, you do see some synthetic lab-grown pieces around town, yours is still going to stand out against that. And the best part is, is there is a secondary market to it, whereas with synthetics, there's no, there's no secondary market at all. There's no market whatsoever. And these are and what's more, I just wanted to add Paul that what's more with something like a colored diamond, a natural fancy color diamond, you know, white diamonds are not rare. They're a luxury item. You can buy the same Louis Vuitton wallet in any, in any store around the world that's a luxury item, but it's not rare. And most white diamonds are going to be the exact same thing. But with the colored diamond, that is generational wealth. When you think about Paul very quickly, what those diamonds sold for 20 years ago, I mean, what was a, what was a yellow intense diamond like the selling for 30 years ago? Yeah, so you can see it's, it's going to keep up with inflation. It's perfect for generational wealth. What we need to do is we'll always get people to come in. As I said, I bought a parcel of different diamonds. If you just want to put one away, I've got a business that I've got a beautiful diamond, the rarest car, one of the rarest cars, blue-green, but it's only a quarter cara. It's stunning. It's very rare. But you're buying rarity, you're not buying something, you know, we can make it into a beautiful ring and put two, three, four halos round it and make it into something. Build it up. Looks like a Stanley Cup ring, you know. But, you know, when you're buying something that's rare, it can only go up in value over a period. It's not day trading. You're not going to, you know, buy it today and say, can I sell it tomorrow? We're doing a couple of the diamonds, as I said, tax in. You're beating this already for 13%. So you're getting a great price. Plus a set of studs, it's worth probably another $3,000 to $3,500. They're not synthetics. They're real diamonds studs. It's the holiday season. It's time to consider value, long-term wealth, long-term value, not throw away value. It's not a time to be wasting money. So this is the type of thing that you can look at for the long-term and for generational wealth, the number, 1-8-7-7-8-sover, the website guildhallwealth.com. Give us a call, go to the website and set up an appointment to look at these diamonds in person because they're truly beautiful and special, especially when you can see them with your own eyes. So give us a call and we look forward to meeting you in person to showing you some of these exquisite stones. We'll be right back on the Real Money Show on 640 Toronto. Welcome back to the Real Money Show, the number 1-8-7-7-8-sover and the website guildhallwealth.com. I'd like to welcome Nick back to the show and we're going to be talking about central banks. And often on the show, we've talked about becoming your own central bank and owning physical gold and silver. You can do it in a vault. You can buy it, take it home. Of course, we love that too. You can also put it into your registered account where it's fully allocated. You get your serial numbers, fully segregated. The product is separated from all other holdings at the vault and it is the best way, unencumbered, to own precious metals in your portfolio. Especially since there's all these investments where you don't own anything, it's just paper. You still have counterparty risk. If you're going to invest in gold, you might as well own it and not have the counterparty risk like central banks. And of course, now we have this great promo. No reason not to get involved in the market. And that is for every 15,000 U.S. invested in a registered account, RSP, TFSA, Lyra, Liff, Riff, you're going to get a gram of gold as your inflation rebate. Nick, let's talk about central banks. We got news this week that the Czech Republic central bank aims to double its gold reserve to 100 metric tons within three years. So I guess they have 50 metric tons now. They basically want to add another 50. Now they say it's to reduce volatility. They say that they need an asset with zero correlation to stocks. That asset is gold. What do you make of another central bank looking to add tremendously to their holdings? Yeah, central banks in general, but these specific European central banks, Poland, Czech Republic, they've seen it all before. They've been there. They've seen war. They've had their freedoms taken away. They've had their financial crisis and for them to revert back to gold. They say gold is a relic, but if it's a relic, why are they going back to it? Yeah, you've got to think that these central banks at the end of the day, and we've got a story here with China buying more gold. And we don't know if it's going straight to their central bank, but you've got to think they're not buying it because they think the price is going down. They're buying it geopolitically because they're either de-dollarizing or they're buying it because they don't want counterparty risk, and they're buying it for that sovereignty, and they know it's going up. And they don't want to advertise that, do they, because that would mean that they're buying it at higher prices. Yeah, they want it cheap, and they're buying the physical. They're not buying the paper, they're buying the physical. That's right. Yeah, definitely. Good point. And then as well, you just think about the fact of what they may have paid, imagine what they paid five six, eight years ago, like China and Russia, because they've been doing this for a long time. They've already increased the value of those holdings tremendously, and now they're still acquiring more. So it's quite amazing in that respect. Actually, speaking of that, just one other thing, because we just mentioned Russia, Russia this week banned gold scrap exports. What does that mean? It means that anything coming out of jewelry, anything coming out of machinery, anything coming out of anything, the recycling side of it, they do not want to export that for someone else to take the gold out and reap the benefits. They're saying, no, no, no, no. We want to keep every single ounce possible in our country. We will refine it and do what we want with it. I thought that was a very interesting tidbit. Another clue, just all these little clues around the world about reasons to have more gold. And someone's looking at it saying, I don't want that scrap is not garbage to us. And I feel like they know that the supply is going to run out soon. And that's why they want every little bit they can, right? Because there's going to be a time where you're not going to be able to get it, but they'll have it. Yeah, I mean, they're not going to be able to get it because the price is too high or they've already accumulated it and they're good. So I agree. I think they're way ahead of the they're way ahead of Joe public, for sure. All these central banks are most people in the public don't even notice. They don't even know. But you know, we're just talking about central banks. And of course, you know, something an entity that has to work with the central bank is the Treasury Department. And Trump has nominated Scott Bessent to be the Treasury Secretary. And I've heard a lot of gold analysts kind of take two sides to the story. Some think he's a deep stater because he worked with Soros. And I guess that that that's a logical, logical leap to make. And others think he's great because they're looking at what he's done, right? They're judging him by his actions, not necessarily by his words or by his associations. And I wanted to give my my take on on this because I did some research and you know, yes, he worked with George Soros back in the early 90s, when people like Jim Rogers worked with him. And in fact, he worked very closely with Jim Rogers, who understands commodities. So if you were tutored by Jim Rogers, I can only imagine what your what your thoughts are on the commodity markets and your understanding about things that he teaches, which is the cycles of you need commodities. You've got to get those out. And he talks about the cycles of commodities and equities. He also worked with Stanley Druckenmiller. And anyone who's followed him or listened to our show for the last couple of years, is he's constantly been talking about precious metals. In fact, he's been investing in them for the last couple of years. I don't know if he's buying actual physical, but he's definitely investing in the gold market and has been very positive on gold. Peter Spina of gold seek quoted percent, saying who said recently, I think we're in a long term bull market in gold, we're seeing reserve accumulation by central banks, which is something we just discussed. I follow it closely, he said, it's my biggest position. Even I was surprised when Poland said that they want to take their gold reserves to 20%. His thoughts, again, according to a gold telegraph, is he's described banking since the 2008 financial crisis, central banking as a failure, arguing that central bankers have effectively become central planners. And I think in our discussions, by the way, I think we have to make a distinction between central banks like European Central Bank, Canadian Central Bank, American Central Bank versus other central banks, which seem to be preparing for a new financial system. And in 2022, Scott Basent's key square capital firm bet on gold. They anticipated, for reasons of this, they anticipated USD decline, the Bank of Japan's policy shift signaling global easing changes. They saw that China and Russia was going to reduce their USD reliance, again, de-dollarization. And that gold was a hedge against these shifting tides. So if you ask me, I would say this guy under this guy gets it. This guy completely understands where we are at in the changes in the market and the changes in the global dynamics with regards to the financial system. So I'm, you know, look, we always have to be, is he going to be nominated? Is someone else going to be sub-doubt? How long will he be there? What kind of blowback is he going to? We have to watch for all those things, of course. But on its surface, I certainly wouldn't just cast him off as some deep stater, just because he had some affiliation with George Soros. And I would say George Soros of the 90s, not George Soros of the 2000s and beyond, which seems to be a very different guy that that we've come to associate with the name. The number one, eight, seven, seven, eight, silver, the website guildhallwealth.com. If you want to get involved in the physical gold and physical silver market, we are more than happy to assist you with that. And if you want to own physical gold and silver in a registered account, this is the best time because you're going to get a rebate of one gram of gold for every 15,000 US invested. So you get to have this asset that you can hand out as gifts, last minute gifts. Trust me, that is a great last minute gift. We can talk about that in the next segment. And, or just hold on to it because it's just going to continue to go up in value. And if you're listening to all of the reasons why we've been discussing, then you would want to keep that on hand. Again, the number one, eight, seven, seven, eight, silver, the website guildhallwealth.com more to come on the real money show on 640 Toronto. Welcome back to the real money show, the number one, eight, seven, seven, eight, silver, and the website guildhallwealth.com. You know, we're just talking about central bank buying and another piece, another news piece that came across. It was actually an article by Jan Newenhouse on Money Metals. And the title was Chinese central banks just secretly bought 60 tons of gold. Now, just to put that into perspective, that means that that would equal 1.929 million ounces of gold. So just shy of 2 million ounces of gold that they bought on the sly. So when you think about, you know, critical, you know, critical finances, stabilization, de-dollarization, having a seat at the table for a new monetary system, there are major reasons why these central banks are buying. But I would say that one thing that we know for sure is that part of the biggest reasons that gold has moved up over the last year and a half to two years has been central bank buying. And when I see an article like this, well, I should ask you Nick, what do you think when you see an article like this, knowing that the market's gone up for two years based on central bank buying? Yeah, I mean, to begin with, central banks won't waste their time on an asset that's air quote obsolete, right? They're not going to waste their time on something that doesn't work, something that doesn't matter, something that's a relic, right? Absolutely. And I think that these type of covert purchasing, they signify an impact to the global gold market. I think that, you know, one thing we have to keep into consideration here is their bypassing traditional reporting, which is very interesting because it means that they're trying to keep a lid on the price at the same time. They don't want to buy it at higher prices. So when you see something like this, you go, okay, they're, they're still quietly accumulating and they're trying to do it without raising the price and raising suspicion. It's one of these things they want to have everything prepared for when the price goes in my mind that the price goes crazy. So I think it indicates rising demand. I think it continues to indicate geopolitical economic risk, the search for sovereignty, and of course, the store value. I mean, these central banks aren't buying stocks. They're not investing in stocks. They're actually going out and buying these physical assets that have been around for thousands of years. Now, we're talking about a change of the economic world. And one thing that we saw this week was that Texas has proposed gold and silver-backed currencies to compete with fiat money. That's fantastic. It's fantastic. And if you want to hold some physical gold and silver, it's one eight seven seven eight silver, the website guildhallwell.com. Okay, so this came out through kickco. A Texas lawmaker has introduced bills to create gold and silver-backed transactional currencies providing an alternate to fiat money. These currencies are going to be backed 100% by gold and silver as far as the proposal is concerned held in the Texas bullion depository. It would be legal tender in Texas for debts and daily transactions. The proposed system aims to restore sound money, shield users from the purchasing power, erosion of fiat currencies, and challenge the Federal Reserve's monetary monopoly. A parallel initiative involves blockchain-based gold-backed tokens, which could encourage cryptocurrency adoption while simplifying gold's use in everyday life. I mean, this is amazing stuff. Why do you think this would be good for gold and silver now? Increased demand. Gold and silver for daily transactions. That's great. It's a safe haven appeal. It's a safe asset, something that you can hold on to protect your wealth. It's challenging the fiat money system. It's the fiat monopoly. Blockchain integration is great at different alternatives to what's going on now and it's preserving your wealth. Yeah, I think as all our listeners know, we're big fans of Judy Shelton on the show and it's something that she has reminded me that when you have money, it should be something that the value lasts forever, that you can make economic decisions based on the fact that you don't have to worry that it's changing. The whole scam of accepting 2% inflation or a loss of 2% purchasing power every year, if you believe that's the number, is robbery and this puts that back into the hands of the people and why shouldn't the dollar continue to grow in value at best? I think the idea is at some point the gold price stabilizes, but it's very much undervalued right now. I'm just looking big picture here in terms of if you'd back a currency with gold, you kind of like the idea of you know, when it was $35 an ounce, it didn't change and it didn't have to change because there should have been no inflation. The US cheated because they printed money, but if you go into the 19th century, there was no printing of the money except for civil war, but then they took the green backs out. So the idea here is you shouldn't have inflation, right, or slow, slow inflation over a long period of time and gold would get you to that point. Right now, I would say we're in the revaluing stage. Gold has to be revalued against all the currencies, against the debt and some of those things that are overvalued have to come back down to a normal value. And I think what's beautiful about gold as well and silver is that there is an end price. There's an end price. If you're revaluing it against your currency that's been printed ad nauseam, there is a price at which you say, okay, now it's at its maximum purchasing power in that currency. So there's no promise here of it going to forever. It's no, okay, it could go to seven, 10, you know, in realistically, it could go to 27,000, but that's assuming that things don't come off in value as well or that debts get, you know, that not all the debts get paid, that kind of thing. So I think we're in for a long term bull market, as Scott Bessent has said. And I think with that, you know, we'll wrap it up for a week on the show. If you've missed a show, please catch us on our YouTube channel, please catch us on rumble. We post a lot on X. It's a great place to catch up on all of the things that are happening throughout the world in the gold and silver market. And we're very excited about what we're going to see from here. And if you've, if you've been sitting on the sidelines, watching this pullback, you got to get in when the price is down, it's a lower risk with higher reward opportunity. And if your takeaway from the show is, I get it, this was a blip in time, and we're still in a major bull market, you should be excited to the number one eight seven seven eight silver, the website guildhallwealth.com. Thank you for everyone for listening. And we can't wait to speak to you next week here on The Real Money Show on 640 Toronto. The preceding was a paid commercial program. Unless otherwise identified, the guests on the program are employees of or otherwise represent the advertiser. The opinions expressed therein are those of the advertiser and do not necessarily reflect the views and policies of chorus entertainment.