Gold/Silver Become “Unobtainium” (Uncut) 02-26-2025

Endgame: Gold/Silver Become “Unobtainium” | Phil Low

When the in-game really hits, gold and silver are both going to go unobtainium, and they’re probably going to go unobtainium in short order. This is Kaiser Johnson with Liberty in Finance, and these are the Miles Franklin Weekly Specials for February 17th through February 24th, 2025, while supplies last. Right now, you can swap any uncirculated one-ounce gold coin or one-ounce card and bar for an MS62 $20 Liberty with no extra premium whatsoever.

Just ship us your gold coins or bars and exchange them for pre-$33 gold MS62 $20 Liberties at no extra cost. Call us for details. Welcome back to Liberty in Finance.

We’re glad to have a returning guest today who is an advocate for educating ordinary people like you and me on things of monetary and financial importance that will be affecting our lives and our survival through the end times going forward. He’s a friend of Rafi Farber’s, and that’s how we found out about Philip Lowe, known as Phil Lowe. He’s the author and founder of The Bitter Draft.

He’s here with us this Tuesday, February 25th, 2025. Phil, thanks for coming back on Liberty in Finance. Hey, Dunigan.

Good to see you again. Always great to have you here, and I appreciate your mission to educate ordinary people on the basic concepts that they get spun so much. So much of our financial lives are filtered through elite and forces at the top of the food chain that things can be so opaque.

It’s difficult for people to understand which direction things are going, and actually what actions we should take to take good care of business for ourselves, our families, and our children and grandchildren, and our country, etc. You’ve suggested a few topics today, and I’d love to get into them. One of them will be probably a little bit provocative with our audience, because there is some concern on the part of many of our viewers and subscribers that we’re subject to an unjust system in that sound money, which we were promised by our constitution, for example, and which I just had the pleasure of speaking with Dr. Judy Shelton, the former economic advisor to Donald Trump, about the importance of sound money, that the contrast to that of fiat currency, the current U.S. dollar, as it’s called, is basically robbing us blind, and the way that it’s being managed by the Fed, etc., with a target of inflation, etc., etc.

You show us in their discussion today, I mean, I think that’s your proposal, is that the mathematics of fiat currency is kind of a… We’re doomed to be affected by it, unless we take protective actions to protect ourselves and our families, but it doesn’t necessarily, in your view, if I understand, have to have a series of Dr. Evils up there at the top controlling it, because the mathematics themselves, perhaps, will be your point, is what’s got us set up here. So can you get us into how you see the dollar, and perhaps all fiat currencies, as a Ponzi scheme, why you say that, and what you think that is the implication for people, and how they take care of themselves? Absolutely. So I do want to preface by saying that a shadowy cabal probably started the Ponzi scheme, but there doesn’t need to be a lot of active management currently.

There’s not a lot of puppet masters doing this to all our lives during the Ponzi scheme. Once a Ponzi scheme gets started, it’s pretty much self-driving, and I will share my screen now to demonstrate how the dollar is a Ponzi, and how a Ponzi scheme like this works. So we have the Federal Reserve here, and we have Kaiser Bank, a bank I have picked out at random.

Wait, wait, wait. Rick Rule always said, he said, Dunnigan, if you start printing Dunnigans in the basement and passing them off as currency, you’ll probably go to prison. But he says, but the Fed does that all the time.

They’re printing dollars all the time and passing them off as money. So go ahead. Yes.

Oh, we’re going to get into that. Don’t worry. And we’re going to set, we’re going to simplify this model and just have a single interest rate of 10%.

And so the Joe Six-Pack used to have gold. And then in 1933, the Federal Reserve seized all the gold. So they used to have gold as their assets.

The Federal Reserve seized the gold and moved it over here, and they printed $100 in their liabilities. Now, and I do want to preface, I do want to say to the viewer, I’m going to make this as absolutely entertaining as I can. However, this is a spreadsheet.

So I do beg your patience as I get through it. But it’s very important to explain how the dollar Ponzi system works. So the Federal Reserve, the U.S. government seized all the gold, put it in Fort Knox and generated notes off of that gold.

And they said, this, these $100 represents this gold. And here you go, Joe Six-Pack. You may have, you may have these notes.

So they went to the, they went to banks, the Federal Reserve went to the banks. They said, look, we do not want people to actually withdraw this gold. So we need, we need, we need to keep them chasing dollars.

We need everyone to be chasing dollars no matter what. So we’re going to engage in a fractional reserve banking system. So let’s, let’s go into how a fractional reserve banking system works.

And I also want to give a huge shout out to John Titus of Best Evidence, because he is the one who explained this to me on his YouTube channel and personally as well. So a big thank you to him. And go watch his channel as well for more, much more in-depth explanation.

But a basic, the way this basically works is Joe Six-Pack now has this $100 in cash. And Joe Six-Pack says, you know what? I don’t feel comfortable having this much cash on me. So I’m going to go to a bank.

So Joe Six-Pack says, hey, Kaiser Bank. Oh, by the way, the, the tiki here, these represent the physical paper notes. That’s all that this little tiki note is here.

So Joe Six-Pack goes to Kaiser Bank and it says, Kaiser Bank, I would like to deposit $100. So they put in $100 that Kaiser Bank now has on its asset side. And Kaiser Bank now generates $100 in demand deposits.

Joe Six-Pack now has $100 in demand deposits in their checking account at Kaiser Bank. Everything good so far. Nothing, nothing screwy, nothing’s wrong.

Now, suddenly, Phil Lowe, I decide, you know what? I’m going to make a widget factory and I’m going to sell widgets to the people. And I’m going to make a profit doing that. But to do this, I need a loan.

So I go to Kaiser Bank and I say, Kaiser Bank, I would like to borrow $1,000. And Kaiser Bank says, sure, we’d love to loan you $1,000. Now, the astute among you will say, but Phil, Kaiser Bank only has $100 to loan out.

And I will say, welcome to fractional reserve banking, dear viewer. So Kaiser Bank will generate out of thin air $900 and have only backed by $100. So they will, I will be loaned $1,000.

And of course, they are charging 10% interest. So I now owe $1,100. Kaiser Bank has the opposite.

They have the mirror image on their balance sheet. So they have $1,100 as they treat the loan as already being repaid. So they just take the loan that I owe them and they just treat it as totally repaid.

And that’s an asset on their balance sheet. That’s a thing they own is this loan that I have not yet repaid, but that they treat as repaid. And the $1,000 of liabilities is the $1,000 in my checking account.

Still, at this point, it’s a little suspicious, but nothing crazy has happened yet. So I’m going to take $1,000 and I’m going to buy, I’m going to buy things from Joe Sixpack. I’m going to hire Joe Sixpack to work for me, to work in my factory, to make widgets, right? So let’s just say for the sake of simplicity, I’m going to spend every penny.

So I’m going to, this is going to go to zero and this is going to go to $1,100. Still nothing too crazy has happened yet. But, and I am going to sell $1,100 worth of widgets.

I’m going to, my company’s a big success. I’m able to pay back the loan. So I now have $1,100.

My liabilities are $1,100. I say, you know what Joe? Oh, and the bank, this actually transfers here as well. So we’re gonna set that to zero and we’re gonna set that to 100, 1,100.

So I’m going to say, you know what, Kaiser Bank, thank you for loaning me the money. It was very successful and now I’m going to pay it off. Boom, boom, the loan is paid off.

And you can see this when a loan is paid off, it is like matter and anti-matter meeting. It disappears off of my balance sheet and it disappears off of Kaiser Bank’s ballot sheet. So it is as if this loan never happened.

That’s what happens when a loan is paid off. Now I say to myself, I say, Self, that was a very successful enterprise you just ran. Let’s do it again.

Let’s build another widget factory and sell another widget. So I’m going to borrow another $1,000. So I get $1,000 in cash, $1,100 in liabilities because the 10% interest rate.

Kaiser Bank marks that. They just mark it out of thin air. They create that money.

Now, now, now you can see the problem done again. I owe $1,100. In this entire universe, there is only $1,000.

I cannot pay this loan back. There is nothing I can do. I can hire all the Joe Sixpacks.

I can sell as many widgets. You know, after hiring them, I can sell all the widgets to them. I can only end up with $1,100.

I must default on this loan. This money does not exist. I must default on it.

So when I default on it, let’s say, so to explain how the default works, let’s say I hire the people because I don’t, I don’t realize there’s not enough money in the system yet. So I go and I hire the people again, just like I did before. I pay Joe Sixpack, you know, $1,000.

And then I say, oh, no, I’m going to, I cannot, they don’t want to buy my widgets anymore. I’m defaulting. So I just, I just walk away from the loan.

So I say, you know what? I’m just defaulting. Can’t pay you back. Sorry.

You look like a swell guy, but you’re on your own. Boom, boom. And this moves over to Joe Sixpack.

Now Joe Sixpack is sitting on $1,000 of bank credit with no loans outstanding, but there is only $100 of physical cash available. Do you know what that is, Dunigan? That looks like a run on the bank about to happen. That is a, that is a recipe for a bank run.

That is exactly right. So there are $1,000 in bank credit and only $100 sitting there and there is no debt to pay off. So people are sitting there with, well, why do I have this bank credit when this bank only has $100 in it? They have guaranteed a bank run when this happens.

So let’s rewind a bit because the bank, the bank, the bank is not entirely stupid. They understand these kinds of things. So we’re going to, we’re going to rewind just a little bit to where I had the loan still outstanding.

So the bank says, Kaiser bank says, you know what? We need to keep this, we need to keep this going. Otherwise we’re going to have a bank run. So they’re going to go to my good friend, Mario and Echo, and they’re going to say, Mario, would you like $1,000 loan? And Mario says, well, yes, I would.

So they’re going to do the same thing. They’re going to loan $1,100 or $1,000 to Mario and they’re going to charge $1,100. And you know what? They’re going to do the same thing.

Joe Sixpack is starving out here. This guy is, uh, you know, uh, the, the, the people, the people have been, uh, they had their $100 sucked out of them by the widgets. And so they also need to go in and get into debt.

The bank is going to loan out to three people and mark $3,000 of liabilities. Oops. There we go.

And it’s the same as before. Now I’m going to do the same thing before where I, I hire Joe Sixpack and then I get my widgets. Boom, boom.

So I’m going to get $1,100. Oops. Same thing with Mario.

He’s going to open up a separate widget factory and do the same thing. And now we can pay off our loans. Oh, and this Joe Sixpack goes down $200.

So we’re both going to pay off our loans. But now Joe Sixpack is even more in the hole than they were before. This before, and this, this goes away.

Sorry. Now there is. Now there is $1,100 in assets in the bank side, but in only $800 in liabilities.

So now instead of $1,000 and $1,100, like I had before, now there’s only $800. So we’re, we’re even in a worse place than we were before. The more credit Kaiser Bank loans out, the worse this situation gets.

Now there are things that the bank can do to extend, they can never, they can never make fake money real, but there are things they can do to extend the Ponzi scheme. One thing they can do is lower the interest rate. So if they lower it to 5%, now when you borrow, if I was to borrow $1,000, I would only mark on my liability side $1,050.

So that slows down and they would, they would do the same thing here. $1,050 and $1,000 in liabilities. That slows down the rate of this, of this, you know, sucking the, sucking the money out of, out of the population, but they can never stop it.

Even, even with an interest rate of zero for the, for the people on the street, if the, if the federal funds rate is zero for the people on the street, there’s still a positive interest rate. Now let’s, and there’s one other thing they can do. Sorry, so they can set, they can set interest rates.

The other thing the federal reserve can do is helicopter money. So they can say, you know what? We just want to give, we just want to give Joe Sixpack some money. So we’re just going to go boom.

We’re just going to double the amount of dollars in the world. Oh, let’s put a ticky mark there. And, you know, we’re going to have a stimulus package where we just mail everybody a check for some money.

Oh, that’s another $100. Sorry, because the bank, the bank has $100 in physical assets and Joe Sixpack has $100 in physical assets. Now what that does, if you’ll notice, they have devalued, they’ve cut the value of the dollar and a half because they’ve printed twice the amount of federal reserve notes, right? So they’ve cut the dollar in half because the same amount of gold is representing now is represented by twice as many dollars.

So that is, that is what, that is extremely what we call inflationary. But it is, it is one way they can keep the system going again in the, until the currency. Once this number gets to a certain level, people dump the currency in a hyperinflation.

But that is another strategy they have. Now, one other thing they have is what’s called bank reserves. And I’m going to get into this real quick.

So let’s say Michael Pinto, actually, let’s change it. Let’s change it. Someone more high wheeling.

So we’re going to go Robert Kiyosaki. So Robert Kiyosaki, he wants to borrow. He’s like, I’m, I’m a, I’m a freewheeling, fast living kind of guy who loves debt.

It’s one of my favorite things in the world. I’m going to borrow $10,000 and the bank is happy to oblige. So do, do, do, do.

And he owes. We’re going to keep, we’re going to keep the interest rate at 10% just for, just for the sake of simplicity. So the bank records $1,000 or $10,000, $11,000 on the liability side, on his liability side.

And the bank is the opposite. Okay. And of course, Robert Kiyosaki goes out and he buys Wagyu, Wagyu Beef Farm and all the other assets.

So we’re going to move that over to Joe Six Pack, because he’s paying them for all the employment. And he goes, oh, you know what? My Wagyu Beef Farm and my cryptocurrency investment didn’t pay off at all. I’m completely bankrupt.

Geez, sorry, Kaiser Bank. I lost every penny. Now Kaiser Bank says, oh my goodness, what have we done? There is not, there is no possible way we can loan out.

Joe Six Pack will not borrow enough money to cover this. Phil Lowe and Mario Neko are not going to cover this. We just Silicon Valley banked ourselves.

We loaned out way too much money to too many whales who couldn’t pay us back. We are in big trouble. We’re going bankrupt right now.

And the Federal Reserve says, no, no, no, no, no, no, no, no, no, no. Don’t do that. Don’t do that.

You’re going to start a cascade. So here’s what we will do. Oh, when Robert Kiyosaki, when he goes bankrupt, he walks away.

So the assets disappear and they are left with the liabilities, which Joe Six Pack has. Right. Okay.

So they say, no, no, no, no. Federal Reserve says, stop, stop, stop. We will buy your liabilities.

We’ll buy the bad assets. Sorry. We will buy the bad assets.

So they still have the assets here that now become a liability. We will buy that. We will buy that mortgage that are all the mortgages that he cannot pay.

And we will give you reserves. So boom. So they buy that.

This is Robert Kiyosaki’s unpaid debt. And they generate $1,100 in reserves. I’ll put a little R there.

What the reserve is, is a promise for a dollar. It’s like the X-ray negative of a dollar. So it’s called bank reserves.

Banks have them on their balance sheet. The banks treat it as money. But what it really is, is just the ghost of bad debt.

So they put that on their balance sheet. And then they just give $1,100 in reserves to Kaiser Bank. And now you have assets again, or Kaiser Bank has assets again, and continue making loans.

They no longer have that problem where they had an asset go bad. And they were left with the liabilities. So that, in essence, is how the Ponzi scheme works.

And it is, if you noticed, a couple things you’ll notice. One thing is, there’s not a lot of control. The only thing the Federal Reserve does, it can lower interest rates to keep this thing going.

And it can helicopter some money out. And it can buy bad debt. That’s really all it can do.

There’s not a lot of puppet mastery. They’re not manipulating the people over here, except by offering them loans at lower interest rates. Now, the, oops, okay, I could stop sharing the screen here.

Now, the important thing, this is a demonstrable Ponzi scheme. And you can actually see how the Kaiser Bank sucks the wealth out of the people. Because the wealth is constantly drained out of the system and into Kaiser Bank.

It’s just sitting there like a black hole, or that creature in Star Wars that Luke Skywalker falls into. It’s just like a pit, where everything just sucks in and nothing can get out. There’s no one really, once, a Ponzi scheme takes some skill to get going.

If you go back to, originally, Charles Ponzi, right? He did have to get on a soapbox and say, I got this wonderful new system that’s, I have this black box theory, and it’s gonna generate all this wealth. You just give me your money, and I’ll get you the real estate in Louisiana, or whatever it was that was the carrot of his Ponzi. I’m gonna generate lots of returns for you.

Once the Ponzi gets going, he actually didn’t have to do very much, because the people that were in the Ponzi started telling all their friends. And the same thing with Bernie Madoff, right? Bernie Madoff, his whole shtick was he, people would come to him, he got word out that he was generating these returns that seemed a little better than the market. So people would come to him and they’d say, oh, Mr. Madoff, my friend here says that you can generate returns, these specific returns, I’d like to invest my money with you.

And Bernie Madoff would always say, this is what he would always do, he would go, you know what? I already have a good list of clients. Tell you what, give me your business card, I’ll think about it. But honestly, I’m very happy with where I am right now.

So, maybe, I’ll think about it. And he kind of brushed him off. Now, he would always take them, he would always call them in a couple of days, say, you know what? I decided I will take you after all.

But he would always pretend, he would always let them sweat and stew for a few days. So they felt extremely grateful once they got in. But he didn’t have to do any, beyond that, he didn’t have to do anything.

He never advertised. The victims of the Ponzi’s were the ones who were the biggest propagators of the Ponzi. So, the little old lady was sitting, talking to friends like, oh, Mr. Madoff, he’s generating 13% returns.

You know, rain or shine. And people say, 13% in this economy? Amazing, how can you get me in touch with this guy, right? So, the Ponzi feeds itself. And there’s a big difference.

There are billionaires sitting at the top of our economy. And they are benefiting from it. They are benefiting from sitting close to the money printer, basically.

It’s called the Cantillon effect. But that doesn’t mean they’re actively managing this, they’re really just kind of sitting there. They’re like the black hole or the Kaiser Bank.

They’re just kind of sitting there and just letting the wealth fall into their black hole. And the real fighting, the fighting among the elite is just jockeying for position to get close to the money printer. There’s really no one controlling it except to hit the print button.

All they need to do is hit the print button on the money and this Ponzi scheme keeps going. Until we get into the hyperinflationary scenario. This is the conclusion of what I’m trying to say here.

Once this Ponzi blows, we’re not going to immediately move directly into another Ponzi scheme. It is impossible. A blown Ponzi is a blown Ponzi.

People say, oh, we’re broke. That was a big mistake, we shouldn’t have done that. Some laws get passed where we pretend that we’re never going to get into another Ponzi ever again.

And it’s a few generations until something like that ever gets going again. There is no more wealth to extract. The wealth has been extracted when the Ponzi blows because everyone’s broke.

So a lot of people are saying, oh, they’re going to run us into this new system where we’re going to have a CBDC or we’re going to have total government control of your very thoughts. And we’re never going to get out of this. That’s not true.

This is a Ponzi scheme. And when it blows, we will be free, but we will be very, very poor as a people. Well, I wanted to just leverage a couple of the things that you just said to maybe perhaps provide some challenges.

When you say that there doesn’t need to be someone actively doing evil at the top in order to keep a Ponzi scheme going, part of what you described in Bernie Madoff’s MO was this continual deception of people to represent that there is something here when there is nothing there, or to continue to give this illusion of scarcity or that sort of thing. Well, I was just in my interview with Dr. Judy Shelton yesterday. We were talking about the layers of deception and hiding of the truth that go on, even behind our meetings at the Fed, et cetera, talking about, should we tell people that a 2% inflation target is really going to take away 2% of the value of their savings and their earnings on an ongoing basis? And we also had leaked tapes from the FDIC meeting saying, look, there’s going to be runs on the bank, but we probably shouldn’t let this out or else there’ll be unintended consequences.

We should only inform those who are in need to know on the inside of the system, but not those who are the users of the system, that sort of thing. So there are sins of commission and sins of omission when there absolutely is evidence of withholding of the truth from making sure that ordinary Joe six-packs don’t learn the truth. That in itself, that action in itself of deception, I see as a grave evil.

Another one is, you mentioned about when a Ponzi scheme blows and everyone’s bankrupt, all the users or the victims, that is, have nothing left, that it takes a while for the momentum to be rebuilt in a new system to emerge. However, we’ve seen this cycle of crisis and response, crisis and response play out several, several times throughout history and even in recent history where suddenly a really bad thing happens and then there’s the next day or the next week or the next month, there’s 2000 pages of legislation that are already well-baked and we have to pass the bill so we can see what’s in it to get this stuff moved in place. So the notion that it’s going to take a long time for forces of gravity to reassemble a new universe of another scheme at the death of an old one seems to fly in the face of the pattern that we’ve seen that usually the response system is already prepared in elaborate detail before the crisis comes that ushers in the population being willing to take it on.

So anyway, just some counterpoints there that may, you know, when Rafi, our mutual friend, talks about surviving and thriving in the end game, some people accuse him and myself of being overly optimistic that thinking through proper preparedness to alleviate some of our family’s suffering through those hard times will come out somehow in a really good position, that kind of thing. But I like to believe optimistically if it’s warranted. So may I address that point? Please go ahead.

Okay, so every time up to this point, we’ve still been on the inflationary system and the inflationary system does feed itself. It does buy the politicians. You’re right about that.

So the politicians are there with the next stack of legislation, you know, the next Dodd-Frank Act or whatever. What I’m talking about is the actual end game. It is the death of the dollar.

And then the power is gone. The system can no longer feed itself. The black hole, you know, collapses in on its… A black hole collapses in on itself into nothingness, I guess.

And you are absolutely right. There is a petty level of dishonesty at every step of this. You know, there’s people… And it’s cowardice too, right? The FDIC doesn’t want to admit that they cannot possibly bail everybody out because their entire thing, as we are, we are the agency that will bail everybody out.

But they can’t do it. So they’re not going to. They’re going to be cowards.

But my point is there’s no real mastermind at the very top who is brilliantly orchestrating all this. This is just a Ponzi. And the people at the top are just… They’re just kind of elbowing each other out of the way so they can gorge themselves at the money printer.

That’s what the fight’s about. That’s when the elites are fighting, that’s what they’re fighting about. Just get out of my way.

I’m trying to get into the money printer. All right. Well, I’m going to put my vote in the camp of when evil becomes widespread and organized, that there’s a prince of evil who’s actually ahead of it.

And it may be higher on the food chain or lower, depending which way you look at it, than we’re talking about. But another thing you’ve talked about is the… And this is something that I get asked. I just got asked this yesterday is how does an end game play out? Are we heading towards a deflationary depression that goes on for a long, long time? Are we heading towards a hyperinflationary event or stagflationary event? And either way, what is door A or door B? What does life look like in either of those scenarios? You had proposed a way of looking at that, that what savings and investment would look like upon return to a gold standard.

And I guess if you could talk about that within the context of what Rafi refers to as the end game. Absolutely. So we are probably heading into a hyperinflationary event followed by a gold revaluation, if this is done quickly.

So if Scott Besson and Donald Trump say, look, okay, we made a big mistake over the last 100 years. We’re going back to a gold standard. Here’s the number of notes we have.

Here’s the amount of gold we have. It’s now redeemable. Bam, we’re going back to the 1890s.

After the initial crash, we can get into very prosperous times. And I wanted to talk about what savings and investment look like on a gold standard. And the important thing to understand here is that savings is not investment.

If you read a macroeconomic textbook, if you go take macro 101 at any university, your textbook is going to say savings equals investment. That is not true. And there’s a big difference between savings and investment.

So to think about this, let’s go to a desert island. So I want the viewer to imagine they are shipwrecked on a desert island and they’re sitting there and there’s a bush with tons of berries. And every night, there’s a beautiful sunset.

So during your day, you can do two things. You can go and collect berries so that you may eat and survive. Or you can consume leisure, which is sitting on the desert island and watching the beautiful sunset.

Almost paradistical, almost like paradise, right? But you sit there and you say, you know what? I might, you know, after a few days pass, you realize there’s no ships, there’s no airplanes. You say, I might be here a while. I better start building a house.

And to build a house, I’m going to need an axe. And I’ll build an axe out of stone. So you spend the next day, but to get the axe, you realize I’m going to have to give up picking berries.

So what I’m going to do today is I’m going to pick berries late into the night. I’m going to skip the sunset that I usually watch. I’m going to pick berries late into the night.

I’m going to get this big pile of berries. And then the next day, I’m going to work on my axe. Now, those berries are savings.

You have saved those berries. You’ve quite literally saved the berries. You’ve collected them.

You’ve put them here, but you have not eaten them. You have saved them. Now, you don’t have to invest them yet.

You could, the next day you could wake up. You say, you know what? I just want to spend the day on the beach eating berries and watching the sun do its full course. So that would not be investing.

Now you’re just consuming your berries the next day that you saved. To invest the berries, you have to spend that time not engaged in leisure. You have to go get a stick.

You have to go find a rock. You have to clink the rock against another rock to make it into a rough, roughly a stone axe shape. And then you have to find a way, you find some vines to try and tie it to the woods so you can make an axe.

And those berries are keeping you nourished throughout that time. So the savings is delaying. Savings is just delaying present consumption for future consumption.

So when you’ve delayed the present consumption and saved the berries, you have saved, and then you have used those savings to invest. Now, this is just trapped on a desert island. There is nothing more, this is kind of ironic.

There is nothing more useless than gold if you are by yourself on a desert island, right? It’s too soft to make anything out of. You can maybe make jewelry out of it, but there’s no one to look at it besides yourself, and there’s nobody to trade with. So you can’t use it as money.

So when you’re by yourself, gold is the single most useless element in the universe that you could think of. But when you have a market, when you have multiple people, you have a market. And when you have a market, you have a money, and gold being one of the best monies, you are allowed to save in money.

Markets allow people to save in money. So instead of saving the berries directly, you can save gold and use that gold to purchase money. Now, in this inflationary system, what they are doing is, they’re forcing us to contribute into false investments.

When we bury gold in our backyard, we are saving that gold, but we are not investing it. The Ponzi scheme, the dollar Ponzi scheme is trying to suck that gold out into these false investments so that the people closer to the money printer can get the benefit of the money itself without having to actually contribute the money. So when you think of someone like a prepper, preppers are actually saving indirect goods, right? So if somebody’s like, I’m worried that the gas stations aren’t gonna work, so I’m gonna stack some gas.

I’m worried the electricity is not gonna work. I’m gonna put solar panels on my house. I’m worried the markets might shut down, so I’m gonna stack food, right? What you are doing is you are saving indirect consumer goods.

Stackers are saving in the money good. So they’re thinking, I will use these money goods to trade. And I don’t have a preference.

I think a little bit of stacking, a little bit of prepping is both good in both ways. I think some people maybe are overdoing it on the prepping side. However, I could always be wrong, in which case that will be a very painful lesson for me and not for the people who have prepped.

So on an honest money system, if you think about what happened in the 1890s, workers would go and work the day. They’d get their wage in silver and gold, and they would take it home and they would just keep it, right? The standard blue collar or lower white collar worker was not involved in the stock market. They did not have large stock portfolios.

They just had savings. They had literal physical savings in precious metals. And sometimes they would save it in a bank and sometimes they would save it at home, you know, a good mix.

Investing in an honest gold standard, investing is a tool for experienced participants in specific projects. So if you have a cousin who says, you know, I want to open a bakery or a butcher shop, we, you know, give me some of your money now and I’ll give you, you know, I’ll pay you back with interest or I’ll give you a cut of the profits or you can come work for me in the butcher shop, whatever, right? That’s an investment. But you wouldn’t, most people will not invest in these, you know, a large 401k with a broad stock and bond portfolio in markets that they have no experience in whatsoever.

You will just, if you want to save, you will simply save. You don’t need to invest. And if you want to invest, you’ll find specific projects that you want to invest in.

You will not participate in the broader stock market itself. There will be people who do that, but the average person, there’s no need to, you can save without investing. Yeah, it’s interesting when people talk about savings and real money, it’s a way of capturing part of your life back.

It’s storing it up for the future. It’s some of your life that you gave up to create some value of one kind or another. And you can save it for a need or for necessity, either for yourself or for anyone else, your descendants or whomever you else may choose to give it to for the future.

So it’s like a little time capsule. It’s capturing part of your time and effort and carrying it with you into the future. And proper money can do that indefinitely, can carry that, that can store that for you.

Whereas the fiat currency that you’ve already told us why it’s a risky place to keep your nest egg, you know, is always a depreciating asset. So looking forward again then to this end game where we may find ourselves on a gold standard, how does that frame that up exactly for people that they will be able to, how they’ll be able to do savings or how they’ll be able to do investing? You’re saying investing may happen on a smaller, on a smaller, more direct or immediate scale rather than in these large and distant markets? Yeah, if you were to talk to your great grandparents, if you could, you know, go back and talk to them, they would never say, oh yeah, let’s just go down to Wall Street and, you know, throw it all into the stock market winds and see what happens. They were extremely prudent people.

And we are extremely prudent people too. We are just, we are confronted with an inflationary system where things that should be smart look stupid and things that should be stupid look like brilliant investment strategies. So when confronted with those incentives, we behave in ways that we should not behave.

On an honest monetary system, you know, people will engage in thrift and prudence and they will not waste their money. Yeah, that’s another thing about the concern of money. There’s even been talk about in China where they have expiring currency.

So people don’t realize in our country that with the depreciation, with the official policy of 2% inflation, which the Fed says they can’t attain, they’re only up 3.6 or almost 4% destruction of value, that it is a depreciating currency. If you leave your savings, your nest egg in currency or in bank accounts, it will disappear in terms of its power, its purchasing power. Whereas if people had true sound money, gold, for example, they could choose to wait till the right opportunity presented itself.

And they’d be very reluctant to part with that. Absolutely. Feeling like compelled to try to keep ahead of this inflationary theft that’s happening of their value.

I gotta find some place to get a better return, a better yield than the destruction of my value that I can feel in my bones is happening because every time I try to go buy groceries or medical care or whatever, I’m losing more and more by waiting. So I gotta quick beat that curve by… So it forces people to be more speculative than they should have to. They shouldn’t have to at all.

They should be able to just buy their time and make those decisions freely. You talked about also when the end game hits and everyone who doubted the stackers starts to feel left out and wants to rush in, that they maybe find themselves crowded out because there’s just not gonna be enough to go around or you tell us, but you said copper might be another avenue for people to look at at that time. Can you elaborate on that? Yes.

So copper is actually the primordial money. It is the first metal money of mankind. Before that, they were using seashells and other weird things, right? Copper is the first… When they first heated up the rocks and this stuff melted out and they said, hey, we can shape this into things we want.

It was copper and copper became the first money. Now, copper is still a money. However, it is not a precious metal because it’s far, far too abundant.

So it’s not monetarily dense. So for people that are stacking right now, it doesn’t really make a lot of sense to stack copper. I mean, maybe if you want a little bit of copper to buy a sandwich in the end game, that’s fine.

But it takes up so much space because it’s monetarily just not very dense at all that it doesn’t make any sense for somebody now who can afford gold and silver to stack copper. However, when the end game really hits, gold and silver are both going to go unobtainium and they’re probably gonna go unobtainium in short order. And so you’re going to get, everyone that’s ever advised your friends, hey, you might wanna stack a little silver and gold or your family, right? And they all said, oh, you’re a kook.

I know you’ve had it done again. I’ve had it too. I’ve had family members that say I’m a kook, I’m a nut, I’m a crackpot.

I have no idea what I’m talking about. And those people are going to suddenly be realized that they are wrong and their investments are fake. As I said before, as I explained before, the investments are not real.

The savings are not real. So they’re going to rush to you. They’ll say, Phil, what do I do? Or Dunningan, what do I do? And you wanna help them, but gold is literally unobtainium.

You cannot find it anywhere. You’re gonna have to sell your house to get a little bit of it. So what can you tell the people to do? And I would advise the viewers to tell your friends and family to look for copper in any form.

So copper pipes, copper pots and pans, you know, copper coins and copper bars are more efficient because they’re standardized. It’s a standardized weight and it has it printed on it. You probably won’t be able to find that in any large quantities.

So you’re probably gonna have to go with weird things like copper wire. However, copper in any form is money. And so they’re going to have to, and what I would say, tell them to rush out with their currency because they’re gonna be dumping their currency anyway.

This is a hyperinflationary event we’re talking about. I’m gonna say rush out. You know, Home Depot might still be technically open.

You know, they’re gonna be looting the store, but rush out and grab copper. So go, you know, get as much copper wire as you can from Home Depot and try and check it out. And, you know, ignore the lumber because people are gonna be trying to, when a currency is getting dumped, people are literally trying to buy anything.

But if you can focus on copper, you can actually get your hands on some money. Now it’s not gonna be a lot. I’m thinking if you, let’s say you have $10,000 right now, you might only, in the end game, you might only be able to get a couple hundred dollars worth of copper in today’s dollar pricing.

But a couple hundred dollars of money is the difference between eating and not eating in a hyperinflationary crash. That way you don’t have to, you know, sell your precious, you know, sell your Lamborghini, sell your, you know, sell your personal aircraft, sell all your other stuff. You can actually have, you know, food.

Food on the table. So that’s what I recommend everyone go to. And like I said, it’s not gonna, it’s definitely not gonna make you rich at that point.

This is just about, it will, it will absolutely stop the hemorrhaging. So you will, your monetary bleed will stop if you can get what you want into copper. But again, it’s, and the market’s gonna figure this out really soon too because copper is also gonna skyrocket and probably become unobtainium at the very end as well.

But there is so much copper out there and it’s in so many different shapes that you probably can get some. I’m thinking, I’m just spitballing advice I can give to people. I’m thinking you could probably get some copper and that will, that will save, that will save what’s left of your, of your purchasing power.

And an exceptionally useful way of storing copper might be in some form that has an intrinsic utility as well. You mentioned, you mentioned wire or pipes or that sort of thing. Absolutely as well.

Those are kind of intrinsic utility as well. When I was in my engineering career working at a factory which lost its connection as we were upgrading the factory computers back to the mothership, the data center, we couldn’t figure it out. We thought it was our fault for having uploaded new software into the end of the factory computers until we found out, no, we can’t get our, our internet connection restored back to the data center.

And it turned out that three miles of telephone, like 200 conductor telephone cable had been disappeared over the night across this entire stretch of, of eight mile road in Detroit. And so somewhere there was someone who was going to be trying to, to fence that to a, to a smelter quickly and get that, get the copper out of that. But that was a time when, so it’s a challenge because people have found that, that houses that are unattended, if they own rental properties can be subject to pilfering for copper, that sort of thing.

So it’s a good thing to, it may be more plentiful than silver, but it may, you may still have to find a way to secure it if you do possess some at that time. So I also add the alloys will work too. So bronze will work as well.

If it has copper in it, again, it’s not as efficient. It’s better to have a copper coin or a copper bar. If you’re trying to do monetary trades with it, but an alloy, an alloy, you can say it has copper in it and it will have value and it will be tradable.

Well, if anyone watching this would like to have a more compact way of storing value, we’d be happy to help out here at Liberty and Finance. You can call us at 888-81-Liberty and we can get you something much smaller than copper. But it’s, you’re right, the ubiquitousness of copper will make it much more readily accessible for most people in a pinch.

And that phenomenon you described of everyone trying to dump their currency once the population wakes up is I believe in Austrian economics referred to as the crack-up boom, is it? Yes, that is the crack-up boom. Oh, what a flurry of healthy economic activity. And you can almost bet that that’s what we’re going to be being told about by the talking heads is that, wow, GDP will, yeah, GDP will rocket up, you know, hundreds of percents a day.

I mean, it’s going to look, you know, that for the bookworms that do that fake macroeconomic stuff, it’s going to be paradise. As the economy is flaming out, yeah, that’s what you’ll see. I feel for people who’d like to get not only the education, but entertainment of the way that you bring these concepts down and make them accessible.

Where can they follow your work? Sure, I am on Rumble at The Bitter Draft, and you can email me at thebitterdraft at gmail.com. I am on X at The Bitter Draft, and I do have a YouTube backup channel on The Bitter Draft, but I do not respond to comments on YouTube because I’m trying to promote Rumble because it’s a bastion of free speech. And that’s draft spelled D-R-A-N-U-G-H-T. Yes, yes.

All right, we’ll put a link in the description of this video. Folks, if you want to take a look at Phil’s work, that’s where you’ll find the link. And Phil Lowe, founder of The Bitter Draft, thank you for joining us again here on Liberty & Finance.

Thank you, Donegan. It’s a pleasure. or one ounce carded bar for an MS62 $20 Liberty with no extra premium whatsoever.

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