Transcription
Hello everybody, and welcome into Commodity Culture, where we break down commodities markets, sound money principles, and geopolitics, all with the goal of making you a better investor in the commodities sector. My name is Jesse Day, and today is November 19th, 2025. And I'm thrilled to welcome Eric Young to the show, who goes by King Kong 98 on X, where he discusses geopolitical and economic effects on precious metals and commodities.
Eric is breaking massive news that one of his trusted sources has revealed a major central bank has purchased over a billion ounces of physical silver. When we add this to the Saudi central bank's recent purchase of the SLV ETF, Russia stacking silver as a strategic asset, and the metal being officially declared a critical mineral by the US administration, are we about to witness a parabolic rise in the silver price? Eric also provides the latest insights into China's new yuan payment system that will compete with SWIFT, how the BRICS nations are changing the game when it comes to the gold market, continuing inventory stress at the LBMA when it comes to silver, and so much more. So, strap yourselves in for my conversation with Eric Young.
Eric Young, great to have you back on Commodity Culture. I want to kick the conversation off with silver and the potential for central banks to start stacking it. Last time you were on the show, we discussed the Saudi central bank taking a stake in the SLV ETF. Now, you've reported recently on X that one of your sources revealed an unnamed central bank that bought more than a billion ounces of physical silver. I know they said not to reveal which central bank or the exact amount, but is there any additional light you could shed on this story? And do you expect central banks to start stacking physical silver in larger numbers ahead?
>> So, absolutely, Jesse. You know, to kick it off, I just want to say that I would love to reveal the, you know, actual central bank or whichever country that is buying physical silver, um, potentially as collateral, um, on top of the physical gold that they're buying. Uh, other than India, we all know that India is doing it, and like you said, Saudi Arabia did it with, uh, SLV. So, would love to reveal that, but if I do it, then I won't get any more information from my sources, right? They told me explicitly not to reveal it. But anyway, like, when I heard the story, I thought it was, um, pretty astounding because it's not like a small country that is doing it. It's actually a heavy hitter that is doing it. And then the person who revealed this to me is very connected, um, you know, with bankers in, uh, Switzerland, etc. I, I'm not going to go further than that. And they have sources and they know, um, you know, when these central banks are making a move. For example, I reported from the same source, by the way, that South Korea bought around, um, 50 metric tons of gold from the SGE.
>> Okay. Like a, like a, around, around two, three weeks ago, when Cambodia bought around the same amount. Okay. So this time, you know, we're talking about silver. And the person who revealed this to me also said that, well, you know, the reason why the heavy hitters are beginning to look at silver and buying silver as a potential collateral on top of gold for the future, you know, monetary system, global monetary system that they're trying to implement, is because India is doing it. India, I, I don't know if you read the reports, but it ramped up its silver buying by 50% this year compared to last year. So it's pretty impressive. We all know that. And, um, India announced that it's going to, um, allow its citizens to use up to 10 kilograms of silver as collateral within their banking system. So that's again, uh, very impressive because, as we all know, silver has been kicked out of the global monetary system almost 100 years ago. So now we're seeing like initial steps of getting physical silver back into the banking system. Now, um, the way I see it, Jesse, is that a lot of the Global South countries might be physical silver rich, but they are not physical gold rich. Okay. So they mine a lot of silver, but they might not be mining a lot of gold. So it does make sense for the BRICS plus for China, Russia, and India to, um, potentially use physical silver as collateral on top of physical gold, just to widen, you know, the, the breadth of, um, their collateral, their system, uh, down the road.
>> That makes a lot of sense. And in fact, Russia had already reported that they were adding silver to a strategic reserve along with platinum and palladium, I believe. Um, so it looks like they're headed in that direction. And another topic we discussed on this show and also on the BRICS Media channel last time we chatted is silver inventories at the LBMA and how they've been under extreme pressure. Now, last time we talked, you said the LBMA silver vaults were essentially empty and they were scrambling to get a hold of physical metal to settle contracts. Where do we stand today when it comes to silver inventory levels at the LBMA from what you're seeing?
>> So, this is a very good question, right? We all know that the, um, COMEX has been has been shipping physical silver to the LBMA. So, you know, approximately, uh, 50, 75 metric tons. And China, uh, through my sources, I'm aware that, um, potentially, you know, I'm going to use that say that in quotation marks, right? Because we don't have an official source, but through my contacts, tell me the ICBC, which is the Industrial Commercial Bank of China, uh, which is also an LBMA member and an LBMA clearing member, uh, helped out, uh, the other LBMA members such as JP Morgan and leased approximately 15 metric tons of silver to the LBMA. Now, I also heard that not all the silver actually went to the LBMA in London. Some of them just directly went to India, like let's say 25 tons. So, you know, safely speaking, um, I think over the last, uh, month since the crisis that we, that you mentioned, I think LBMA probably got like 75 to 100 metric tons of silver. But according to guys like, uh, David Jensen, I mean, like that silver is already spoken for. So, what I, what, what he means by that, and what I mean by this, is that whatever silver that the LBMA is getting from the COMEX and also the lease ones from China, which is minimal, like I said, probably probably around 25 tons to London, already immediately got shipped out to, uh, customers who were, who are standing for physical delivery. So, if you ask me, Jesse, what's the actual free float, uh, at the LBMA of COMEX silver, I'd say it's zero, just like I'm just reiterating what David Jensen said, zero. They don't have a free float.
>> Very interesting. I want to highlight something you wrote on X yesterday. You said, "In 2022, a bunch of people told me that it will take 50 years for gold to reach $4,000 and silver to reach $50 because China, Russia, and the rest of BRICS are a bunch of savages who can't manage to implement an alternative system to the USD and US bonds." Uh, which is a very good point because that was a big part of the discussion around BRICS. The narrative was these countries don't trust each other. They can never work together. So they're never going to be able to come together to create an alternate payment system. But here we are, over both of the price levels that you mentioned in your tweet. How much has BRICS and their strategy to move away from the US dollar and Treasuries driven the price action in gold and silver markets in your view, and how much of an impact do you expect them to have moving forward?
>> First of all, guys like George Gman and, uh, Brent Johnson are still saying the same thing. They said, you know what you just read, um, back in 2022, and today they're saying the same thing. They're saying that whatever the BRICS is doing, whatever China is doing, whatever Russia is doing, there's no hope of success, right? But the fact is, Jesse, I believe that at least 75% of the move in the past two years was driven by exactly what I wrote, which is the, um, you know, China, Russia, and the BRICS countries dollarizing and, you know, started accumulating physical gold, um, as a potential collateral, as a replacement to US Treasury bonds, bills, and notes. Okay. Okay. As a matter of fact, I don't know if you read my X, um, in real time, right? But I just went, I just attended a cocktail party, a dinner party at the Hong Kong Jockey Club, and I was, um, talking to a lot of the, uh, mainstream media, financial media people. And, um, surprisingly, when we talked about US, um, treasury collateral, the ladies asked me, they said, "Isn't that, you know, isn't the US using US debt as collateral very risky right now, given that the US, you know, government is on the edge of bankruptcy?" It's a very good point, and the person who said it is not like, um, it's not a nobody. Let's put it that way. I don't want to name anybody, right? But I agree 100%. And I think, um, you know, funny thing is this, Jesse, also, guess how long US Treasury bonds, bills, and notes have been collateral in the global system in terms of number of years?
>> Would it have started post?
>> Take a wild guess.
>> I, I would just say post-World War II.
>> Okay. So let's, let's just, you know, be generous, give it a 100 years, right? 100 years.
>> How long has gold and silver been collateral in human history?
>> 5,000 years, something like that.
>> Exactly. So, which, like, you know, I'm going to ask you, right? Is the US Treasury bonds, post, and notes an anomaly in human history, uh, as collateral, or is gold and silver an anomaly as collateral in human history? Which, which fund is at normal? Let's put it that way.
>> Given that we know the timeframe, right? So, so, like, you know, we're just going back to normal. That's what I'm saying. We're going back to using physical gold and potentially physical silver as collateral because it makes sense, Jesse. There's no counterparty risk. You're using an asset that that has zero counterparty risk as collateral for liquidity.
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Yeah, I want to circle back to the LBMA for a second because I realize there's going to be people jumping on me for not following up with you on there being zero, your, your estimate that there's zero free float, uh, silver at the LBMA. When will we start to see the implications of that, and what could the implications be? Could we see a parabolic move in the silver price? I mean, we've already moved very far, very fast. It's interesting that when I post interviews focused on silver, I still get people in the comments saying, "I've been waiting forever for silver to to go up." And I'm just thinking, it just did. It just exploded up to $54. What do you, what are you looking for here? But as we sit here today, with this inventory stress at the LBMA, what, what do you think the implications could be? Do you think it, it could have a big impact on the silver price moving forward?
>> Well, you know what, the, uh, the December, December front month contract, like COMEX silver contract, you know, um, silver prices right now, $52.13, right now I'm looking at it real time.
>> So, today it went up like a $1.60. So whoever is telling you silver is not moving up, are they what's wrong with them? Because it's like you said, it's moving up at a super high speed right now. Even the spot price, I'm looking at the spot price right now, is $52.29, like $52.1729, uh, bid and ask, right? So, like, I don't agree with that statement. I think silver is making a lot of headway. And given the fact that we talked off camera that reverse repo is now sitting at almost zero, that, like, you know, Japan is increasing, jacking up its interest rate, so that, you know, um, that, uh, yen carry trade is no longer applicable. There's no more freebie money from Japan, right?
>> Yeah.
>> The liquidity is not, um, at its highest, let's say. Um, the fact that gold and silver rebounded so quickly and so strongly is telling us that the physical gold and silver liquidity, um, contraction is actually at a more dire level compared to the US dollar liquidity contraction. So, I look at, Jesse, you know, I don't know if you, any of your guests look at things like this, right, in this manner, but I look at US dollars, gold, and silver in comparison. So, I, I use the word relativity because that's what it is, right? Everything is relative. So, a lot of people say, well, you know, US dollar liquidity is contracting, so everything is going to fall in terms of price, right? Yes, but what if the underlying commodity, um, you know, the source, like I said, the free flow at the LBMA is almost zero or zero, right? What if the underlying, uh, liquid, uh, commodity liquidity is actually contracting faster than the US dollar liquidity? What happens then? We see what we see now, right, Jesse, which is everything is falling, but gold and silver is actually going up.
>> Yeah, some great points. I want to continue on with the conversation about BRICS now, because Vince Lansancy recently reported that China's CIPS, a yuan payment network and alternative to the SWIFT system, has expanded to institutions in around 185 countries. Obviously, we are not seeing anything about this on the news in the mainstream financial press for obvious reasons. How closely are you following that story and, and are there any additional details you could share with us?
>> Well, I think that's good news. That's in line with what we're seeing with the Shanghai Gold Exchange. So, the last time I went on your show, I shared with your audience that the Shanghai Gold Exchange is setting up offshore vaults of like for physical gold, right? Potentially silver down the road. So, if you're Saudi Arabia, you're Russia, you're India, down in the future, you're going to have a Shanghai Gold Exchange vault in your backyard that you can, uh, take your warrant and withdraw physical gold from the SGE vault. Okay. So that's the collateral part. What Vince is talking about, what you are talking about, and what Kathleen Tyson is talking about, um, in terms of the CIPS, that's the currency, like, of the equation. So, remember, I don't know if I explained this to your audience on your show, right? When you have a repo agreement, you have the collateral link and then you have the currency link. What I mean by that is the two banks, they, they are entering into a repo agreement, right? Sorry, not reverse repo, repo. Okay, repo agreement. So, you have that, you know, in this, in the past, they used US Treasuries, but now they want to use gold in, in the case of China and Russia and the BRICS, right? So, the piece of physical gold or the gold contract, the warrant, is the collateral, and then you would, you know, basically, um, get access to fiat currency, all of that, right? So that's the currency link. So, what I'm seeing is that, um, with China pushing this initiative, um, it's actually getting ready for the entire system to get up and running. Okay, because now they have like announced that they're going to set up the, uh, collateral leg through the SGE, and they are pushing forward with the currency link. So, it does make sense that they're doing that now because the collateral link is already, uh, initiated in Hong Kong through the SGE gold vault.
And so once this system does get up and rolling, do you see it as a potential direct competitor to the SWIFT payment system? And will this be a system, do you think, that is going to be reserved for BRICS member countries or countries that are friendly to China? Or do you think this is a payment system that they'll roll out worldwide and and open to anyone?
>> I think it'll be open to anyone. That's why people like Judy Shelton is talking about 50-year gold bonds. Because you need to have, you need to have access to gold or at least a tie-in with physical gold to be admitted to the system that we're talking about. Now, the only issue that I have with the 50-year gold bond is that it is a deferred gold payment. I mean, this, it's in the name, right? It means that you buy it, you don't get the gold back until 50 years later, right? So, the fact is that I don't know if the BRICS countries are going to be, uh, happy with the West trying to plug this into the system because I imagine whatever the BRICS countries are using is not like a deferred 50-year gold IOU, like what the US is proposing.
What is going on in your view with this so-called soft nationalization of gold in Indonesia? I'm seeing reports the government there is imposing stringent taxes on gold leaving the country. Do you have any insights on that? And do you expect that we could potentially see more of this moving forward? Obviously, we're seeing, um, export restrictions on rare earths, supposedly on silver as well, coming out of China moving forward. Um, do, do you expect this to be a world of resource nationalization, more export controls, and, and if so, how do you think that gold will fit into the picture, and just your thoughts on, on what's happening in Indonesia right now?
>> So, I read more into that and I heard, and again, unconfirmed as of right now, is that, uh, Indonesia is thinking of like taxing, so unrefined gold that is leaving the country. So, Indonesia, what it wants to do is to, um, you know, set up its own refining center, like smelters and refining within Indonesia. And that makes sense, right? You want to, you know, tax the unrefined gold so that the stuff gets refined locally, and then once it's refined locally, then, you know, maybe they have like a, on, like, like the SGE, right? They have like a system where if you have like a permit, then you don't get taxed when it leaves the country, right? So, I think it's really smart of Indonesia to, um, you know, do this. And, um, I don't know if you know, Jesse, but like the US, uh, USGS, US government recently finalized silver to be a, um, you know, strategic mineral. Right.
>> Right.
>> So, it's possible that the US does the same thing for silver. It's difficult for gold for the US because, um, you know, the US dollar is the global reserve currency, and it's initially spun off from gold, right? We all know that the, um, you know, Nixon, Nixon shock in the, in 1971 when they closed the gold window. So, I think the US, in terms of gold, will drag its feet as long as possible in terms of like, uh, any sort of like, uh, export control on gold. But for silver, frankly, I can see it happening very soon because China already did it. China already announced that on January 1st, it is going to start export controls on physical silver. There you have it.
>> Yeah. And I'd love to follow up on on China. Is there any other recent news coming out of the country regarding the gold and silver sector that you think stackers and investors should be watching right now?
>> I think what, what stackers should be watching is the, uh, Shanghai Gold Exchange and Shanghai Futures Exchange silver vault numbers. The last time I checked, it's down to 1,400 metric tons, and that's a very low number. That's like, you know, normally China, you know, the two vaults combined have around 3,000 metric tons or more. So, we're less than half, and it's draining. You know, some bad, like, maybe they have a bad week of a lot of drain, you know, they lose, uh, several hundred tons a week. So, we're talking about like, how much free float do they have? Maybe less than a thousand metric tons of physical silver at the SGE and SHF. So, I think China is the place to watch. And, you know, you got to see if China is helping the LBMA, which I doubt at this point. And, uh, also, you know, I would watch the COMEX because we're heading into the December front end delivery month, as you're aware, Jesse, right? And once we get into December, and by the way, they can start taking delivery at the end of November. Doesn't need to be December, okay? That's how it works. And so, like, at the end of, uh, November, if all of a sudden you have a spike in, uh, physical delivery at the, at the COMEX, then you got to ask yourself this question: Are the players in the US keeping the physical silver themselves, or are they shipping it to London to help the LBMA? That's what we got to look at every day.
And do you have any thoughts on the current trade war that seems to be brewing between the US and China? There's also been a lot of talk about this eventually devolving into a full-on hot war, potentially over Taiwan. Um, we've heard talk from a lot of US government officials that, you know, the US needs to really prepare for a potential war with China. Um, things have have gotten a little heated here and there when it comes to exchanges between the two countries. Seems that things are always on again, off again. But there's been several situations where the Trump administration has come out and publicly declared, we've reached a deal over this or that, and then the Chinese officials come out and say, we never discussed that. We have not come to any agreement. Seems to be a very confusing situation. But I wonder what your take is and if you could actually see it, um, eventually becoming a boots-on-the-ground kinetic conflict.
>> I think China's strategy is to, um, engage with the US but not to be aggressive towards the US. So, what I mean by that is that, um, you know, for example, the, um, you know, the SGE vaults offshore, that is setting up the, uh, you know, ships, the competitive, uh, system to SWIFT, they, they're going ahead and setting all that stuff up. Okay, just so that, let's say, if Uncle Sam goes on a rage binge all of a sudden and, uh, sanctions China, China and its trading partners have has an an alternative system in place that they can use. That's what I see happening in terms of trade. I think they're taking it on a case-by-case basis. It's not me saying it, Jesse. It's the Chinese government saying it. It's a dynamic situation. It really depends on, uh, what's coming from the American side as to what China will do.
>> Yeah. And, and, and is this a matter of, you know, two different systems of governance? Because when we look at so-called Western democracies, the main issue is the cycle that the politicians have to actually try to implement changes is very short. In the case of a president, you get a four-year term, potentially eight, maybe not. Um, and so a lot of these politicians have extraordinarily short-term thinking in the West, where they're just concerned with getting elected, doing what they want to do when they're in power, and by the time they're out of power, all the things they promised, if it doesn't materialize, it doesn't really matter either. Whereas from the Chinese side, you have the opportunity for more strategic long-term thinking. Are we seeing kind of a battle of those two systems play out right now?
>> Well, absolutely. And the fact that China, I think, sees through the Western banking cartel because it has been working with the Western banking cartel for the last couple of decades. So, it knows that the, well, I mean, like, obviously they do, right? That this whole US Treasury system, this whole US statute system is to essentially fleece the rest of the world of its resources, of its, you know, whatever US dollar trade, uh, you know, um, uh, positive bonds, or like, uh, you know, whatever trade surplus, basically, that they have to be recycled back into US Treasuries, US debt to fund the US government, right? Um, this fixed banner. So, I think the Chinese see that. Especially, Jesse, have you checked the latest US government debt level? We're at almost, uh, $39 trillion. I mean, by, by the first quarter of 2026, I think they're going to be at $40 trillion of debt. Think about that. It's pretty insane, the speed, right, of them adding on new debts.
>> And you mentioned earlier that the yen carry trade is now dead, as we see spiking interest rates in Japan. The 30-year bond, I believe, rising to the highest yield in its history, the 10-year, um, at levels not seen since 2008, I believe. What are your thoughts there with what's happening to Japan, a country that has an over 250% debt to GDP as well? I've spoken to some people who say that that country could be the first domino to fall in terms of a worldwide monetary or economic collapse. Do you think Japan could, could end up being the canary in the coal mine here?
>> It's very possible. I mean, like, a lot of people have been saying, uh, you know, the end of the, uh, yen carry trade spells the end of cheap liquidity in the Western world. And, um, I mean, need I say more? Seeing that in action right now, we're seeing that every day, right? Since the Japanese let the, uh, their rates go up. So, I think, um, potentially. But, um, what will probably happen, Jesse, is that, um, there will be a liquidity squeeze at some point, and the US government will have to step in to probably print more money, like last time, like every single time, you know, like probably have to start the QE again. If they don't like the word QE, they will use, they will invent some other word to describe it, but I, I bet you they'll do it. So, that's long story short, simple answer. I think the US government, the Fed will reinitiate QE. That's it. And soon.
>> Yeah, I think I, I agree with you there as well. In terms of the US dollar's reserve currency status, how do you see that unfolding? You know, a lot of people believe that, uh, Trump and Scott Bessent actually want to lower the value of the US dollar. Um, but its reserve currency status, how, how long has it been now? It's, it's, it's been there since the post-World War II. All reserve currencies eventually change hands, but we're in a situation, as you noted, with Nixon taking the dollar off of gold backing in '71, where we're in a worldwide fiat currency experiment. So, with the dollar potentially set to lose its reserve currency status, it's not like there's another currency like the Swiss Frank or something like that that's going to pick up and become the new reserve currency. It looks like that role will belong to gold at some point. Would you concur with that? And how quickly could you see that happening? Because obviously these events can often take longer to play out than most people think.
>> I'm gonna say this, Jesse. Henry Kissinger said this, well, he said it many times, uh, during his lifetime. Henry Kissinger said, "To be an enemy of America is dangerous, but to be a friend of America is fatal." Okay. So, that I think like, paints, paints the perfect picture of what I'm going to say for what I'm going to say next, which is, if I were the US, and I have a quotation marks, world reserve currency at its last legs, I would milk my allies as much as possible before the ship goes down in flames. So, that would be what the Europeans, Japan, Australia, and Canada. Okay. So, I think that's what they're doing now because those countries are not doing what the BRICS countries or China and Russia, you know, Singapore, whatever, right? Like, you know, the countries that are not really direct, uh, direct vassals of the US, right? They, they are, you know, those countries are looking at gold and silver as collateral, um, you know, in replacement of US Treasuries. But then you have the, um, you know, friends of America who are stuck with US Treasuries. So, to answer your question, I think, um, you know, like Washington D.C., I think they do have plans that they want to implement, but they always seem to fall back on kicking the can down the road because of exactly what you just said earlier in the program, Jesse, because they have like limited terms in office. You see what I'm saying? So, they might have like grand plans when they step in, but they quickly realize that the best they can do is to buy maybe a couple more years and kick the can down the road, which is exactly what I'm seeing with the Trump admin right now.
And one other question, kind of extending into how this is all going to play out for a lot of societies that are on the side of not necessarily looking at gold as a new reserve asset in replacing US Treasury bills. Um, we're seeing obviously massive government debt and deficits, inflation on the rise, the cost of living getting unmanageable for your average citizen. At, at what point does this boiling cauldron potentially spill over into civil unrest? I've heard talks about civil war in places like the UK. Are you watching any of that? And, and if this whole fiat system comes down and the US dollar's reserve currency system comes down, um, what do you think the implications will be for, for society in these countries?
>> You know what's funny? I think it'll take a while because they talk, they already talking about UBI, which is universal basic income, right? So, if they, that's again, they're kicking the can down the road, right? So, you're talking about, um, just Mad Max, like the entire society ripping apart, civil war, etc. I think maybe it will eventually get there, but the process of getting there is going to be kicking the can down the road with stuff like UBI. So, in my opinion, it'll take a while before we even get there.
>> Yeah. And in my home country of Canada, I don't think they'll ever be a civil war because people will just do whatever the government says, and that will be that. Um, vote for the Liberals again. I mean, it doesn't matter who's in power, guys. Uh, but final thought, real quick. Uh, speaking of Canada, they have zero stated gold reserves. Are they just completely insane? Totally out of touch? I mean, there must be people behind the scenes at the government and central bank who realize that this is ridiculous. Um, what, what do you think the strategy is there? Do you think they actually have gold and they're not publicly stating it? Do you think they're just ignorant, or, or what, what do you make of that?
>> So, I got to ask you a question, right? I have a lot of Canadian friends, and they tell me that you had a prime minister called Stephen Harper.
>> Yes.
>> And, uh, when he left office, he left $1.9 billion Canadian dollars in surplus. Pretty amazing, right? Like, for Canada to have universal, you know, health, health, um, insurance for all Canadians, but he managed to actually leave a surplus when he left office. Now, I heard my understanding is that, uh, Trudeau was the replacement for Stephen Harper, right? Like, Canadians elected Trudeau, Trudeau's Liberal Party to take power from the Conservatives, right? Like, what the heck were Canadians thinking? Let me ask you that question. It looks like the Conservatives did a very good job, in my opinion, if you look at it from a, from an economic perspective.
>> Yeah. I, I think that ultimately.
>> Yeah. Ultimately, it's a matter of political ideology in that whoever was behind the scenes orchestrating whatever media campaign or whatever influence they were having on society. Canada is now extraordinarily left-leaning. I, I would say in many parts of the country, to the extreme, like a Stalin-Lenin level of leftism. And, um, they're also extraordinarily captured by the media. I mean, the way that Justin Trudeau got reelected during COVID was by going on TV and screaming about how he was going to punish everybody who didn't take the vaccine. That's literally the platform he ran on, and he got elected. So, then you have to ask yourself, maybe the politicians aren't the problem. Maybe it's the people, which is why I fled that country and currently live in the former Yugoslavian Republic. So, um, that, that, that's the best answer I can come up with. People are just so captured, and, um, they worship, they worship their envi, the environment, and somehow we've got to stop oil production. They worship the idea of, you know, equality for all, no matter what. I mean, I, I could go on and on about Canada. Um, but yeah, I, I think it's the people that are the real issue there.
>> Okay. Yeah, it makes sense. But I, I think, um, if you ask me, Canada, I think, uh, if it comes to shove, it will, um, it will increase taxes, profits taxes for the various different miners within Canada, because a lot of miners mine in Canada, high-grade gold and silver mines, right? So, I think it, it'll just do that. Like, I mean, right now, I don't know how much they tax. If they tax 20%, it'll check out to 30%. So, whatever, you know, they might even go like, um, you know, 10% of all the gold that you mine have to go to the, uh, you know, Bank of Canada. There you have it. Right. So, that might be like, I don't, God, I hope they're not listening to this show because they get ideas from me. Right. But like, but like, uh, but like, yeah, they might actually do that. Right. And, uh, you know, if anything, um, I think Canada has a lot of resources, and, um, you know, my understanding is that Canada imported an enormous amount of immigrants in the last five years. Okay. So, I hope those immigrants like to live outdoors, like, uh, you know, mining, because that's where the jobs are going to be going forward.
>> Yeah.
>> Yeah. So, that's it. That's it. That makes a lot of sense.
>> Yeah.
>> Well, thank you so much, Eric. I greatly appreciate the conversation as always. Tell us about your account on X at KingpKong98 and what it is you talk about there.
>> Yeah. So, my account on X is, uh, KingpKong9888, and I talk about everything about gold, silver, the miners, uh, LBMA, COMEX, the SGE, which is the Shanghai Gold Exchange, um, you know, China, the US, geopolitics, and I post, uh, multiple times a day. So, if anybody's interested, they can go on X and find me.
>> I'll put the link in the description below. Highly recommend people give you a follow. You break a lot of news, um, and you dive deep into a lot of aspects of the gold and silver market that I think people who watch this show would greatly benefit from. So, go and give Eric a follow on X. Thank you so much, brother, for coming back on the show. It's been a blast.
>> Thank you, Jesse. It's a pleasure.
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