Transcription
Alexander Kobikov, an adviser to Vladimir Putin, recently made a bold claim. "Right now, America is trying to change the rules in the gold and cryptocurrency markets. Remember how much debt they have? $35 trillion. The US, just as it did in the 1930s and 1970s, will solve its financial problems at the expense of the entire world, driving everyone where into the cryptocurrency cloud."
The US, burdened by a staggering $35 trillion debt, is scheming to rewrite the rules of the crypto and gold markets. His assertion: Washington aims to erode trust in the dollar, shift its debt into a so-called crypto cloud through stable coins, devalue it, and reset the global financial system at the world's expense.
So, is this a credible warning, a geopolitical jab, or something entirely different? Joining me today to unpack all this and more, please welcome back Eie Tucker of the Tucker Letter. Eie, always good to be with you. Talk to me about this this talking point that I just brought up here. I mean, uh, do you agree with Putin's advisor? Could this possibly be the scheme that the US is up to?
"Maybe. I mean, it's kind of a big series of events and you never really know what people are doing. And the thing what I'm realizing writing the Tucker letter is that most people are just completely bamboozled by everything that happens because they they they just have zero ability to ever even indulge learning about anything. I mean, and people make these strange claims like uh you know that are that are like multifaceted that probably have nothing to do with us. I mean, this type of claim is probably some geopolitical jockeying, you know, that's going on behind the scenes that like we have no idea about. And it really doesn't matter. I mean I mean a lot of times I'll get these bizarre uh complaint emails about these like you know odd things people think are going to happen and I'm just thinking like what do you what do you really care? I mean you know I mean the I silver's running right. I mean you know I've been trying to find all my silver. It's impossible. Like it just takes up way too much space. And you think about it and you're just like, you sit here and stare at a stack of silver and you're thinking like, yeah, I mean, I don't know what they're going to do with the with 35 trillion in debt. My prediction is it'll double. My prediction is it'll be 70 trillion and the system will get bigger. The system's going to keep getting bigger and that's probably a pretty good bet, you know, and if that happens, I want myself to get bigger as well. I mean, you know, not my waistline, but I mean, you know, my asset pile should grow with that because otherwise I'm going to go backwards. And so that's kind of my thinking is like, why don't I just get on the boat that's right in front of me and go, you know, I mean, if the if the Russian, you know, kind of power structure and the US power structure have this like bizarre war behind the scenes. I mean, obviously that affects us, but I mean, like, you know, there's a lot of moving parts there, you know, and sometimes, you know, you look at something like, you know, I wrote a book about gold that I'm not sure really anybody read, you know, because the gold's tripled since it was out and people seem like that's enough."
"People read it."
"I think I thought so, but I get these weird emails that I'm like, what? Did you not read the book? You know, I mean, it doesn't make any I mean, the thing tripled, you know, like like what did you do? You read the book and you did something else. Like, what do you I don't understand what happened. you know, they they read the book and they bought a mining stock. I it doesn't make any sense to me. My point is, yeah, you you you you and I and people like watching this and people kind of like that are that are, you know, people that file a tax return sort of like regular people sometimes you you cannot overthink this stuff. I mean, like Bitcoin, you know, is probably going to go higher. you know that that's the thing that you're seeing is that the price of gold right now there's like $25 trillion of the gold in the world and there's like 24 or5 trillion worth of Bitcoin and I don't think you need to get crazy with the math just be like look I mean there's a lot of money in this there's like too much money floating around all over the place in the world and like Bitcoin's probably going to go up gold's already gone up you know like it's it's some of this stuff is pretty easy."
"There's a few points there you I need to dissect. So, uh, one, you just made me remember this awful headline I saw on Business Insider. Just side note, the headline was, and I tweeted like, "How dumb is this headline?" Is why is gold so expensive now? And I don't know, there's like a hundred reasons that this title just makes no sense. But um getting back to the system getting bigger and bigger and the debt ballooning, I guess the question is is this is is this in like your children's lifetime, Evie? And two, there has to be a point like how there has to be a point where it pops."
"We'll get right back to the interview, but this is an important moment to ask yourself when the next crisis hits, will you be properly positioned or wish you prepared earlier? I've spent over two decades reporting on global economic shifts and what's happening now is unprecedented. In moments like this, timely decisions are critical. That's why we've put together the private wealth playbook. It's a free guide showing you how to use gold and silver strategically for protection, privacy, and long-term performance. Click below or visit dannyreport.com to download it now so you can move forward with clarity and confidence. Now, back to the show."
"I I don't know because because that's what people want to believe. You know, I'm I I increasingly am convinced people have got to have a a Santa Claus style explanation for everything. Like they have to have this binary thing that's really simple. Like if you put an advertisement that says the whole entire world's going to collapse on January 10th, click this button and give me $500 and I'll tell you how to profit from it. people do that and it doesn't make any sense because like you wouldn't profit at all. I mean you would be wiped out. So like you okay so so everybody wants this but it's not usually the way that it works. I mean typically things evolve into the next system. I mean you you like you know you it's like you had you know German money collapse evolves into the ne everything is kind of like evolving into the next thing and what you want to do is you want to like flow along with it. I mean it's like people get like we got to defend this kind. I'm like, what do you mean we got to defend this? I mean, you know, look, you came into the world around, you know, 1970, let's say. And, you know, it's pretty obvious what's happened since then. Every eight years, the the size of the federal debt has doubled. So, every if if you had eight-year presidents all the way up, basically every eight-year president since 70, the debts doubled. So, when it was, you know, one trillion, when it when Reagan saw one trillion, people were like, "We're doomed, you you know, but then it went to two trillion and then it went to four and then it went to eight and now it's 36 or something. It's going to go to 70. I mean, and everybody's like, "No, it can't happen. You know, we're going to go back to like trading, you know, shovels for for bread or something." I mean, forget about it. Like, maybe. But, but I think it's more likely that they've realized they have figured out that the trick is to make people feel distracted by making them feel rich. And that's what happens. That's the power ball effect. What happens is is that if I can make you feel like there's hope that you're going to have some big money event in the future somewhere or something, you know, I listen to people in New York on the subway talking about this Power Ball. It's so dumb. They all like, I'm going to what if I win this thing or whatever. Okay, great. I mean, you you you'll be dead because everybody that wins the lottery ends up like incarcerated or like with a bunch of face tattoos or like having some huge problem, right? You have you ever read these stories? It's crazy. So, you you do not want to win the Power Ball. It's like the worst thing that could ever happen to you. Meanwhile, this person on the subway could have just bought like $20 worth of a gold ETF for 20 to 20 years, right? Because, you know, and and had like done pretty well, right? But that's not good enough. That's not good enough. I need a collapse prediction of the entire world. There's going to be an EMP attack, you know, and that's what people want to know about. And it's like, I don't know. I don't really think this way because I I think there's probably going to be people profiting and surviving, you know, for the next 40 years doing something and I want to be one of them. That's like my mindset, you know."
"Okay. Um, you mentioned silver before. I'm excited to talk about it because obviously we know gold gets all the attention, but now one major bank TD Security says silver's momentum could ultimately push prices to record highs above 50 bucks an ounce. This was in a research note from their senior commodity strategy. He says he warned investors actually that silver appears to be entering the endgame of the current cycle as demand now driven by renewed investor interest eats away at the last drags of above ground stockpile. So he's warning about"
"Wow. Okay."
"Probably."
"I mean but but here's the thing. I I know this is going to sound weird, but I'm actually I actually don't like silver. I mean it like I was I spent a lot of time this weekend. I've been hunting around for the silver, right? I haven't even found all of it yet. You can't even store this stuff. It's too much. Like, you forget where you put it. You know, I've sold houses and I'm convinced there's like, you know, thousand ounce bar left like in the basement and stuff. I mean, it's like you can't even store all the stuff. Now, what I don't understand is that the the price really is is almost back to where it was, you know, in like the summer of 2011 pretty much, right? So like you know 14 years ago right now like this month or whatever uh you know you were at a time where we we thought surely it's going to go over 50. You know I think everybody sort of knows that when it breaks over 50 it's going to lurch higher you know and it's going to come back you know and test 50 and then probably go to 100. But the thing is is that you're like who really cares? I mean 41 to 100 like what is really the big deal? I mean you you know you you have like we were talking about flying taxi stocks in the newsletter just for fun by the way. It's not like you know something we're really working on but you know these things go like 10 10x or whatever and you're like but you get these silver people who are like totally bananas over silver and it's only going to like what are you going to get a double off that and then you can't even I mean you you know I'll have like three or 4 hundred pounds of silver. It's like you can't even put this stuff anywhere, you know? But anyway, it's worth having some, right? Because people I've been in that market for a long time. And I'm telling you that basically commodity finance is what kept that market down. And so that's breaking down right now. Like that's what's breaking down is the ability to move prices around."
"And we're seeing a good run in a lot of the silver miners, Evie."
"There's not many. Yeah. I mean, it's like you can own them all. you know, you can you can have like, you know, on on your fingers, you can have all of them, you know, it's like there's not that many and they're tiny and they're run by the same people. And so I just I think you play this, you know, you play it because it's here, but like you don't get carried away. I mean, I was telling my my kids that about like when I got interested in silver and gold and I just what I did so people can understand this because I think people they just think that like I I'm rich or something from like birth or but I mean I was I was like buying a little bit of I'm looking at the dates of all this stuff that I was buying. I just would go and buy like one gold coin for you know $650 or something in a month or whatever. This is like 20 plus years ago. I mean, there wasn't any like I'm going to get rich or something like that. I was just like, you know, I I sort of have been struggling. I don't want to struggle again, right? So, like I think people have to like really analyze their thinking. I mean, they say they're going to buy like 10 ounces of silver and they're going to like retire or something. It's like probably not. Probably not."
"Um I was going to say, what do you mean? I thought you were a trust fund baby this whole time."
"Yeah, I wish. I mean, I always like I was telling I was telling I was telling a friend of mine the other day I had this fraternity brother that married a daughter of a billionaire. I was always jealous, but you know, this guy ended up being like a total alcoholic slug, you know, and and part of it was because like it's really complicated to be married to the daughter of a billionaire. And you never really you never really fully appreciate that until you're older. So like, you know, yeah, I mean, I wish I was like a a trust fund baby or something, but I guess like not really because I've had a really fun life so far, you know, and like now I'm in midlife, which is even more fun because you're like starting to you really think about stuff. But but you having a fun life is much better than like winning the power bowl."
"Um okay, let's wrap with gold here. I know you like gold. C uh China's central bank bought two tons of gold in August. Obviously, demand is slowing here. I guess my question is we know a lot of the gold rally was driven and is driven by central bank buying. What happens if if China just stops buying gold? What happens to the rally in gold? Are you still bullish?"
"I I think unfortunately we've sort of like made this run temporarily. This is probably a pretty good run. Like I mean I think there's there's a little bit of like a readjustment of some things going on. So now you get up here at like you know 3600 and you're like okay so you could have a 10% move is 4 grand. It sounds like a big number, but when you start thinking about it, you're like, we we've had a lot of move now. And the move normally is in advance of the thing, right? Remember like in the past that you know, like in in 2008, gold hit a thousand in March, but then it came down and then they had the crisis, right? So like it's like it moved before the crisis. I mean, it tends to move in advance of things changing. And so probably what's going to happen is a bunch of change of the Fed, a bunch of change in policy, bunch of change in kind of how things flow. And then we'll look back and we'll say, "Oh, that's why gold was in advance moving up to, you know, 3600 bucks." And if you don't have any, right? Like what's the thing to do if you don't have any? I mean, when's the best time to plant an oak tree? Like either today or, you know, yesterday. I mean, it's not like wait for it, right? So that like you know if you don't have any you got to have like a percentage that that's the way to look at it right like if you have like a small percentage gold that's that takes all the guessing out of the price thing."
"I just want to go off this tangent side note um not because I did the interview but yes because I did the interview with Mitch Vexler on property tax. I hope you watched an EE went viral. Uh I know you live in Florida uh Florida house to begin work on property tax overhaul. Basically, the premise of my interview with Mitch Beexler is that uh property taxes are unconstitutional. We're paying way too much. It's a whole Ponzi scheme and he's trying to bring down the system. Now, this whole property tax revolt is spreading. U any thoughts on property tax from you as someone who I know pays a lot in them in the state of Florida?"
"Yeah, I mean, I have a place in New York, too, so I pay, you know, so I mean, I'm a I'm an avid taxpayer. Um, I just the thing is is that um I like when you get the bill for the property tax, it's called a trim notice. Most people know this and you look at where the money goes, you know, it's like it's so funny because you don't use any of that stuff, you know? It's like the you try to go to your local library and it's like filled with homeless people, you know? It's like it's just it's so to me like nobody ever asks questions in a bull market, right? So now we're in a stalled market in Florida. So if you know what's happened, like everything sort of got hammered. the prices are all stuck or down. The flood maps all got changed on the west coast of Florida and so nobody will give you any insurance. Not that I want any insurance, but basically I'm saying most people are stuck. And now they're saying, "Oh, wait a minute. You know, I'm paying all this money in property taxes. I don't like it." So, so it's funny to me. I I think it's like actually something that makes me laugh that nobody cares in a bull market and then all of a sudden, you know, if the party stops, everybody's like pointing fingers and wants to know why this and why that. But I tell you what, it's not the worst idea to question these things. Like now you say, "Wait a minute. I mean, where is all that money going?" And what you figure out is that most of the time it's going to like 3,000 useless employees that you know sit in the county building and do absolutely nothing. And I think we've just overlooked that for a long time. And so maybe it is time to look at that."
"A lot of big changes happening in Florida."
"By the way, the Tucker Letter is a lean organization. So we don't have we have a little part-time help here and there. People tech stuff and everything, but I mean we don't have any useless slugs sitting around. And that's why, you know, we have such low prices. I mean, it's funny how you decide how you spend your money, right? Whereas, like when you just mail the money to the, you know, mortgage company who then mails the money to the county, it's like it just disappears."
"Yep. Always good catching up with you, Eie. Appreciate it. You can get the Tucker letter. Um, any final words of advice?"
"Ebtucker. Ebtucker.com."
"There you go. Etucker.com. All right. Stay well, my friend. We'll see you soon."
"See you. And thank you all for watching. We'll have more content coming your way. Be sure to stay tuned to the Dingle Cambon Show. Subscribe to our channel. As always, you can reach out to my colleagues at ITM Trading. There's a link below in the description um so you could book a free strategy session to get started on your gold and silver journey. That's it for me. We'll see you soon. [Music]"