Good morning is now is Tony Arterburn of Wise Wolf Gold, and he has set up David Knight.

Not Gold.

That'll take you there.

And I imagine Tony, as I said before, is super busy right now because gold is in all the headlines,

like we've never seen it before because they're seeing new all-time highs and it benefited yesterday. It seems to be very comfortable

in the 3100 range, doesn't it, Tony? Thank you for joining us. It's great to be back, David. Yes,

you know, if you look at the metrics, the dollars lost 40% of its purchasing power against gold in the last

year alone. Wow. These are historic times. $3,100 an ounce gold, and it surpassed that. It went into the

mid-3100s a couple days ago. And that's the key thing, even more important than the price of gold

versus dollar, and that is the

purchasing power of the dollar. And if it goes down by 40%, that's really the true value of the

gold, isn't it? That's right. I mean, that's what I try to teach is that when you're watching gold

go up, it's not getting more valuable. It's the dollars losing purchasing power against it because it's a monetary metal.

And I think that's the key to all of this is the dollar is losing its purchasing power, it's losing its reserve status, more and more it's being dumped by central banks around the world and then you add in this chaos

which is this is from an economic standpoint david i and it's funny i feel like you know one of the

you see those uh shows from the 70s or so where a kid gets caught smoking cigarettes and the

the the father would be like well here's have a whole pack of cigarettes, you know, so it gets sick or something.

And I feel like, that's what I wanted tariffs, you know, for the last 20 years.

I've been reading about economic nationalism.

I was an outlier.

I ran for Congress on this.

And, you know, I looked at all the history of it and I, you know, give talks about it. And now that it's happening, it's happening in such a funhouse mirror version of what I was talking about that has nothing to do with, this isn't going to goose the economy.

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