Andy Schectman, president and CEO of Miles Franklin, has been joining us weekly the last three years. Central to our discussions have been gold reemerging on the world stage and the BRICS developing a new reserve currency to rival the U.S. dollar. Now it's getting real. Russia recently pre-announced that at the August summit, BRICS will be announcing a gold-backed currency.
  • 00:00 The speaker discusses witnessing significant changes in the country and a belief in upcoming major shifts.
  • 00:29 The video features 2023 American Silver Eagles at a discounted price.
  • 01:27 The guest, Andy Schectman, CEO of Miles Franklin precious metals, joins the show for a market update.
  • 03:16 Andy discusses the rise of the East in positioning themselves to protect against the impact of the US dollar’s instability.
  • 08:01 Andy emphasizes the importance of focusing on distributed Ledger technology or blockchain and gold as a means to legitimize a new financial system.
  • 08:15 Andy reiterates his belief in the possibility of a gold-backed BRICS currency, considering the actions of central banks and sophisticated private investors accumulating gold.
  • 13:20 Andy discusses the potential consolidation of BRICS, the Shanghai Cooperation Organization, and the Eurasian Economic Union, forming a significant and powerful economic force.
  • 15:11 The speaker expresses concerns about the dysfunction in the United States, including financial, political, and social issues.
  • 19:16 Andy advises on diversifying assets, considering the risk of staying in the US dollar and investing in the current stock and bond markets.
  • 22:31 The speaker highlights the use of reverse repo markets to finance the short-term debt and emphasizes the destructive consequences of deficit financing through money issuance.

Article By:

Warren Moore

Citations and References

Andy Schectman, president and CEO of Miles Franklin