Hello everyone. This is Chris Martinson at Peak Prosperity here with another edition of Off the Cuff,

your series for understanding what's going on in the world today. Very special guest, good friend of mine.

Mike Maloney of Gold,Silver.com, practically needs no introduction. Author of The Great Gold and Silver Rush of the 21st Century, an updated version.

We're going to talk about this. We're going to talk about how safe are your assets. We're going to talk about the state of the world and where we are in this story. So, hey, Mike, welcome to the program. Good to see you. Thanks. It's great being here. You know, I do want to commend you for the job that you've done of alerting the public over the past

couple of years to what is going on. So thank you very much for what you've done.

Thank you. And likewise, I'll return the favor because I quote your stuff all the time,

the difference between money and currency, talking about the great

wealth transfer as a centerpiece of how I think about the world, and I build stuff off of that

all the time. So thank you for all of your work doing that, because the hidden secrets of money,

extraordinary, everybody should watch it, of course. Do people still watch that?

Oh, yes. The episode four is, I think, at about 11 million views now. And that's the one that describes how currency is created. But there is a mistake in there. And we can't correct it

without losing 11 million views off of our channel. And the mistake is, we went with the textbook creation

of bank credit, how bank credit dollars, which are not money, how they get created, and the

fractional reserve. You deposit currency and they loan out 90%, keep 10 on debt, doesn't really exist.

You bring a house to the bank and you say, I need to borrow some currency to buy this house.

And the bank looks at the collateral.

They look at you.

If your credit history is good, if you're borrowing a million dollars, the bank

types a million dollars into existence, puts it in your account, they don't loan you anything

that exists already. And then you pay the seller, that currency is out in circulation, but you've

promised to pay $2 million back over a 30-year period. When you pay the

principal back, those dollars meet the debt on the balance sheet and annihilate each other like

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