4.6 • 2.4K Ratings
🗓️ 17 February 2025
⏱️ 82 minutes
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0:00.0 | Good morning, everybody. Welcome to your Sunday morning philosophy fest. It is the 16th. Yeah, 16th of February, 2024. And let's get straight to your comments. Hey, Steph, how long do you think it will take for Bitcoin to be the default currency? |
0:21.6 | Well, it did take a bit of a step that way just over the last couple of days. |
0:30.1 | I don't know if you know this. Let me just go and get the facts here. but in the Bank of England is not doing very well when it comes to delivering |
0:52.0 | their gold. |
0:56.0 | So they're supposed to be able to give up their gold within 14 days, but that's not happening. |
1:05.5 | So this is from goldbroker.com. |
1:09.6 | A few days ago, one of the world's largest refineries |
1:12.0 | informed its customers that the London warehouses were empty |
1:14.6 | and that the London gold market was dry of liquidity. |
1:18.6 | Confirmation last Wednesday, the Bank of England published the information |
1:21.1 | that it would be able to deliver the gold currently awaiting delivery |
1:23.6 | only in four to eight weeks. |
1:25.8 | So this is based upon the tariffs on imports, the Trump's |
1:31.4 | tariffs on imports. Many investors see this as an increase in the value or the price of precious |
1:37.5 | metals. Since the announcement of Trump's victory, the comics has been facing exceptionally high |
1:44.4 | gold delivery demands. This required a veritable airlift to transfer 393 tons of gold |
1:49.4 | from the LBMA's London warehouse to the comics vaults in New York, bringing the New York gold stocks |
1:55.5 | up to 926 tons. This movement emptied the, quote, liquidity available in gold in the Bank of England's |
2:02.3 | faults. For years, Andrew McGuire has been pointing out that the official rules of the exchange for |
2:08.3 | physical EFP between the Comex and the London bullion market required delivery within 14 days. |
2:14.2 | He even gave a presentation on this subject in the House of Commons, thus challenging the |
2:17.7 | government. |
... |
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